Perfect topic. I'm 3 years in retirement @57, did a good job in the accumulation phase with net worth of $3M+. The problem is I haven't spent any of it despite knowing I have no concerns of running out of money. Some minimalist traits that helped me save are not easily cast aside. I sense I'll be dead and gone with plenty of money left behind, but that was never a goal.
I have a feeling I’m going to be in your boat too. I’m 52 and have $3mil socked away. I hope to retire as soon as next year. But I’ve been in a frugal savings mindset my whole life. That transition without feeling anxiety is going to be tough.
Excellent video. I'm 63 and single with $2.3 million saved ($1.3 in Roth IRA). I bought a t-shirt for $80 last week. Today, I have five more t-shirts arriving. They cost $54/each. I grew up very poor (no toilet, shower/tub, bathroom until I was 10). I plan to move to Los Angeles in two years. It looks like I'll have to spend $1.5 million for a home. I'm trying to spend. p.s. I retired at 48.
Stacy Lynn Staples" is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look her up.
I just turned 48 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $350k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 5 years, my FA has consistently restructured and diversified my portfolio and expenses, resulting in over $1 million in gains. While it might not seem like a huge amount, retirement now feels within reach.
My CFA, Judith Lynn Staufer, is a renowned figure in her field. I recommend researching her name online; you’ll find all her credentials and everything you need to work with a reliable professional. With many years of experience, she is a valuable resource for anyone looking to navigate the financial market.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Absolutely! Wealth is made in bear markets. We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q2 taxable divs this year was $17,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.
''Amy Desiree Irish'' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
It's true that many people underestimate the importance of advisers until their own feelings burn them out. A few summers ago, following an ongoing divorce, I needed a significant push to keep my company afloat. I looked for licensed advisors and found someone with outstanding qualifications. She has contributed to my reserve increasing from $275k to $850k regardless of inflation.
Jennifer Lea Jenson is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I just 30 this year and have just under $40k in my own 401k and another $10k between my other retirement accounts. My wife has about $41k in her retirement accounts (she is not currently working). I currently make close to $63k a year. I only do 5% though to my 401k for the company match and another 10% of my income is split between an HSA and a ROTH IRA
I have $295,588.25 in my Fidelity retirement account. I cranked my contributions up to 35% and I do all the investing on my own. Fidelity just holds my ETFs/stocks. I made that change earlier this year. I'm hoping to end the rat race by 60 but it's looking more like 63-ish. I want to have $1.5M and bring in about $60k in dividends each year. Pedal to the floor! Thanks for the video. Great content.
I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
As a new investor it's always great to hear from a person who has gone through all the difficult times and come ahead of it. What are some strategies i can employ to be successful?
As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I'm guided by “Annette Christine Conte” an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
Then, should those of us who are over 50 but have less than a million worry? I worry that I'm getting close to retirement because I only have $500k in my Roth and I have no idea how to build it.
A few years ago, I found myself in a similar situation. I had anxiety all the time. My worry vanished after I made the decision to begin working with a financial counselor and began to get large monthly profits.
Well, that's also my answer, even though I'm not retired. I've been relying on a fiduciary to handle my portfolio for the past seven years because, as a contractor, I don't have much time to research assets. I have expanded my portfolio by up to 300% and been able to navigate market volatility with greater effectiveness thanks to this method. You could think about taking a similar tack.
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Just a recommendation to look into: As soon as you can possibly take Social Security, take it and invest all of it. (Provided you can still work and have a job 401k plan of sorts). This way you are "extra investing" with the SS money while still working. If you can work for at least another 7-8 years then you'll be set. The other main key is you'll be able to live off significantly less if you have zero debt. No mortgage allows you to live off just the monlthy interest of the 500k. Again, just a recommendation, I assumed a lot info about you and your lifestyle/where you're at.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around $300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’COLLEEN ROSE MCCAFFERY” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Rachel Sarah parrish is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.{
I'm 42 with $997k in my 401k. I started working full time right out of high school. I'm still with the same company. I've been in their 401k plan since I was 18. I contribute 10% and get a 4.75% company match. Compound interest is you best friend. The sooner you start, the better off you are.
As a 59 year-old I tend to avoid these videos as I know I am Waaay behind, but my Mantra is "I'm at where I'm at and I will do my best in the now" I got all my debts paid off 2 years ago, have a 6 month emergency fund, and am up to 15% invested in IRA./401k per month right now. In 18 months I will be through helping my daughter with college and can throw even more $$ at retirement.
@@dustyrhodes2717 I understand the logic but my parents paid for my college and I am only contributing a portion of my Daughters, something I do as a matter of principle.
I know this may sound harsh but your college-aged daughter has a lot more time than you do to build her retirement savings. It's worth considering focusing on beefing up the funds that you will need to survive on for the next 30 or so years. It would be a hard conversation but with time your daughter would understand.
@@lailas.3205 I understand the logic but my lack of retimrement is my issue, not my Daughters. I would like to provide for her what my parents did for me a debt free start to life after college. And I am contributing quite a bit to retirement right now and will increase my savings when she graduates in a year
Bought my first home at 53. 😏 Literally not the smartest apple in the bucket. It took me decades to figure out my career. Hindsight thank God I didnt get student loans. I worked low paying jobs(more than 2 sometimes)until I was around 40. I graduated from community College at 39 finally found a decent paying job at 40. Ive currently been there 13.5 years. Found Ramsey 5 years ago and ive been debt free since then. I purchased a home 15 months ago and now I'm focused on paying it off. I work overtime to get it done faster. I have CD, 401k and regular savings. Yet I will probably be working til Im in my 70's. 😏 I pray for strength, great health and right state of mind. 🙏🏿
Economics have been sounding off on just how bad they think the next downturn might be. I need ideas and advice on what investments to make to set myself up for retirement
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. hence I will suggest you get yourself a PRO, someone that can provide you with entry and exit points.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
’'Jenienne Miniter Fagan’’ is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Have the same degrees and retired at 60 - start saving 15% now and your 50 year old self will thank you! I did not get serious with 15% until about age 30. Hit $1mil nest egg at about 55. About 1/3 was contributions (me and employer), the rest, growth. Never had any debt other than a mortgage. (Actually did have about $10K school loans but paid those off in a couple years.)
Good on you! Now keep your debt down and rack up the savings now. It will amaze you how much it will compound to when you are my age. Compounding works!
Congrats, I did that once and the feeling was wonderful, it's nice to have cash stacking up everywhere once your hard earned money isn't going to your debt masters.
good for you! start saving as much as you can allow yourself in your retirement investments. I’m doing good but I also wish I sacrificed even more at your age
I bought my house at your age have a pension,multiple retirement accounts,multiple cars and am on track to make six figures in a few years I turned 28 on the 18th. No college by the way and I’m gonna out earn 99 percent of you.
The problem we have is because Most people always taught that " you only need a good job to become rich. These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the appropriate method and assets, some investors will still outperform others. As an investor, you should already know that nothing surpasses experience, and that is final. Personally, I had to seek advice from a stock specialist, which allowed me to build my account by over $35k, extract my profit just before the correction, and now I'm purchasing again.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I have about ($190k) liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at stocks instead?
Yes, housing crash is coming. If you're thinking about investments to earn huge income while maintaining the ability to access your money and safety, so you don't get caught in a market decline, a financial planner can come in handy
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Seeing the struggles of those in their 60s and 70s is truly eye opening. It's a stark reminder of the importance of taking charge of our financial futures, regardless of our age
It's never too late to make a change. despite health challenges forcing me to consider retirement at 56, I committed to smart investing. Fast forward two years, and I've saved $1 million, closing in on my $2 million retirement goal by age 60. It's a journey of resilience and determination
you are lucky to have turned things around as timely as you did. But hey, better late than never, right? I'm in my 30s and feeling the pressure to catch up
I credit my research that led me to Emily ava milligan, a top fund manager, rather than luck. 300K to this amount was not coincidence. time to buckle down and get serious
our journeys share similarities. Following my divorce settlement that left me with $215k, I entrusted an investment to a skilled fund manager. In just two years, that decision turned my returns into $1.1 million. i’m eyeing a countryside retreat for retirement
After quickly copying and pasting her name into my browser, her website popped up immediately. It's rare to stumble upon such tangible examples for reference. Thanks for sharing
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
My wife and i have been busting our butts with the 15% just like they said and we make decent money in my opinion and our employeers really just dont match 💩. 401k match is 2% If what they say is true then we are never going to retire
Correct. My employer only matches 2% also but I’m putting 25% of my paycheck towards 401k but I’ll consider 30% soon and I’ve only been at my current employer for 6 months so I’ll also consider somewhere else if the money is good and 401k contributions are also better
@@gabrielj.negrontroche4188you're doing great man its a process and you'll get there! Some companies like mine don't match at all, so 2% is better than nothing! It at least covers any 401k fees.
I think it's about prioritizing whatever you can invest. I probably spent $2,000 on crap every month in my 20s and told myself that I didn't have enough to invest in retirement.. Boy I wish I did something instead of nothing back then.
Agreed, a better approach would be starting with a smaller percent, then include salary increases and gradually increasing contribution. But the example George uses is less complicated for a quick run through as he is doing. But the numbers end up the same or similar, using conservative salary increase, and ending up at 15-25% contrib in 60's.
@avisharma1006 After taxes in my 20s, I barely made 2400/mo, best u could do was 200 each month to save. I did better later, but the vast majority of people will never have the income to really start this, one thing never really talked about.
I'm in my 20s investing exactly 625 a month. However, many people my age have loads of debt, wasteful spending, and no aspirations of sustaining their own lives. You get out what you put in
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
Thanks for the video. I finally established a way to increase my net income per month. My 2024 goal is to pay off the house by Sept 2024 (8 years total into a 30 year @ 4%). I have no debt other than mortgage. My 401k, HSA, IRA and emergency funds get maxed out. The mortgage is my last piece of debt left. I don't have any school loan or CC debt. I've made a lot of sacrifices over the years. I'm almost at the debt free finish line.
Facing your medicine can be difficult. However, with commitment, you'll ultimately reach a highly satisfying place. It's all about the actions you're willing to take.
Your financial journey is truly inspiring, and I'm currently striving to achieve the goals you've reached. Could you please share some tips to help others learn and navigate their own paths to financial success? Your insights would be invaluable.
I'm left struck with thousands of dollars disappearing from my 401k due to soaring inflation, and my concern is where to safeguard and grow remaining cash about $500k+ for the next 2-3 years at no risk, my goal is to retire early and afford my lifestyle after retirement.
True. I’ve been investing in the money market for 11 years now, last 5 years with the help of a financial planner. Throughout these years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1m roi as of today. My best so far
My 401k is doing great. This inflation is not hurting the rich nor stock market. You need to see a financial advisor if you are loosing money in the stock market.
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
I work with *Jennifer Leigh Hickman* as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings to about $1M over time?
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
I’m 29 and only have $40k in my 401k, but if you add together my other retirement accounts (IRA, Roth IRA, HSA) I just crossed the $100k mark. Gotta beat that average 💪
Age 29 and only have 40k in 401k? You’re doing good and you’re on your way, as long as you keep contributing and don’t withdraw from it until retirement. I started contributing to retirement at age 30 in 1992. I’m age 62 now and my investments total a little over 600,000, and I contributed peanuts the first ten years. Thankfully I have a military pension so I don’t need to touch that now. Keep up the good work.
I feel so blessed to have had a dad who taught me the importance of investing and the power of compound interest. #1 rule was to put materialistic items and toys on the back burner for the 1st 10 years of my career and invest every single dollar I could. Well I did! From the age of 23 and now today, I'm 36... I have a Roth 401k balance of $355,000!!! And as a bonus, all of these dollars are after tax because I convert my company's contributions at the end of the year, every year. With an annual average of 10% growth just investing $1,000 a month till the age of 56 I am projected to have 3 million in Tax Free Money people!!! If you are in your early 20s I cannot express enough how important is to put away the things I mentioned in rule #1.
There seems to be skepticism amongst investors regarding the Federal Reserve's plan to continue increasing interest rates until inflation is stabilized. As for myself, I find myself at a crossroads, uncertain whether to invest $150,000 into my stock portfolio. I'm seeking advice on the best strategy to capitalize on this current market.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
I know a beautiful man with a mild learning disability, who worked for a grocery until he died recently unexpectedly in his late 50’s with a wife and daughter. All of his siblings have advanced degrees in high-power professions but this humble man lived a humble life and put back for retirement from day one and had a life insurance policy. Everyone was surprised how he left everything beautifully set up for his wife and child financially. They will be fine. The power of compounding and saving is a wonderful thing to harness for your family.
I only did the 4% match for the first 10 years of work. Then did about 10% for a few. Now I’m doing 27%. I love watching it grow. I now have $210k at age 41.
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject ..... Thanks to Joyce Wooldridge the lady you recommended.....
My so called target retirement fund in 401k had absolutely terrible return compared to sp500. I moved all to sp500 but biggest regret of my life I didn't do it sooner..What else is best way for me to invest 200k for solid cashflow?
you need a certified financial planner straight up! personally, I invest in ETF's and also love investing in individual stocks. yes it’s riskier but am comfortable in my financial environment
You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Well, I chose *Sharon Lynne Hart* as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification. You should look her up
My company contributes 8% even if you dont contribute at all, so been doing 16% for 11 years. My balance is at around 243k right now, and I'm 34! Now focusing on baby step 2 and paying off debt!
@@WRBWRXWGN thanks! I recently reduced my contributions to zero, but work still does 8% so I can focus on consumer debt. Hoping to tackle four or five credit cards this year and 5k of student loans left
@victorblas3483 Is it Roth? Remember match beats Roth, Roth beats traditional. So if they give 8% regardless it isn’t considered match. If it’s a Roth with great options stick with it! But if it’s traditional I would switch your contributions to a Roth.
We are 60+ years old, both had to retire early due to severe medical conditions. I never thought we would be millionaires but the calculation of our net worth has proven me wrong. If you max out the 401K contributions it can be hard to get used to at first but after a short time you will realize that you do not miss the money. Think about the big purchases that require monthly payments, extravagant vacations, going out to eat more than you cook at home, every purchase that is not in your monthly budget. Do you want the ability to retire when you need or want to and enjoy the retirement or do you want to create your future retirement based on owning an expensive car or going on an extravagant vacation. Don't assume you will be capable of working until the age of 65, plan your future by making smart decisions with your money, you never know when the day will come when you can no longer work.
But have you lived? No snark, I just don't see the point of scrimping all you life and then you just spend all that on medical bills. It doesn't seem like living to me.
I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.
It's impressive how much you saved during your working years, a feat not many achieve in a lifetime. Now that you're retired and rely on your investments, it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.
Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Sadly, this entire video is based upon whether or not you invested $625.00 / month starting at age 25. Now I'm sure there are some folks out there who were able to do that. I am not one of those folks. And I feel that there are millions of others like me, who started with less money and perhaps a bit later than that.
This entire video assumes that you have wealthy parents who pay for your college and set you up with a cushy high income job in your 20's. If you're working at McDonalds or hell even starting a white collar career in your 20's this video is pure fantasy. If you have college loans you have to pay yourself and then have children it's downright hilarious, or crushingly depressing. And if like me you have a chronic illness that wiped out your savings it makes you feel like giving up. All these calculations assume you never have children, never become long-term unemployed, never have loans to pay, and never get sick. Insanity unless you're from a rich family.
@@darinherrick9224 Facts, my adoptive parents are both doctors and didn’t get out of debt until they were in their late 30s and had their own practices. I did it in my late 20s, but had a substantial structured settlement from multiple class action lawsuits which propelled me to success, otherwise I’d still be 34 today working a regular job, barely making it. You need luck, something most unfortunately don’t have.
@@darinherrick9224 You are absolutely correct. I've been working jobs since the age of 10 and now getting close to 60. I started saving as much as I could in my early 20's, lived within my means, been laid of from jobs twice and overcame cancer. So much of life is financial luck.
Keep on that path and you’ll be set! I didn’t start until I was 28 and I have a half million now in my mid 40s. That with a paid off house makes a comfortable retirement very likely.
@@tracyaf6084 I just turned 28 years old last week with just over 5k in retirement savings in my Traditional 401k. I started last year as well and only save 6% with my company match. What should I do differently or add to my portfolio the way you did since you started at that age as well to get where your at? If you could of done it differently what would that be? I want to start my savings journey the right way this year and save more.
You will be so glad you did this! I started saving when I was young (now 64)... I'm in OK shape but I should have saved even more so don't underestimate your contributions.... NOTHING is going to get cheaper in the future :) The important thing is that your paying attention to this now... BRAVO!
Age 29, $160k in my 401K. I contribute 7%, my company matches 7% for 14%. Also just opened a ROTH IRA in addition this year and will be maxing that out @ 7k annually from now on.
@@glasshalffull2930 It's a large variety of mutual funds and ETFs. Approximately 30 funds weighted towards aggressive growth for now since I'm in my twenties.
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
Yes, you are right. it's been a brisk tailwind for investors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financial advisor.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with 'MICHELE KATHERINE SINGH' for the last five years or so, and her returns have been pretty much amazing.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am 60 years old, recently retired, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Colleen Janie Towe who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I enjoyed this content. Although I have been watching less yt and doing more research. My retirement contributions are not making my 401k any better, should I buy popular index funds in a brokerage account, is this a better alternative to outperform and rebuild my retirement?
My suggestion to any investor old or new is to always learn to do your own research and don’t just go buying stocks without proper considerations. Most of what is pumped out by the media is what most TH-cam ‘fin-entertainers’ churn out to you as fear uncertainty and doubt.
Agreed. That and reading some basic principles laid out in books like The Intelligent Investor by Benjamin Graham. There are also good TH-camrs out there like Felix, Graham Stephan, Humphrey Yang and a few others, but generally you are right.
Its unclear which stocks and sectors will lead the market in the next uptrend. Stay away from the stock market if you do not have guidance from a plannner and investment strategist. My finances have been in order since I got a wealth planner like Monica with a 600 B AUM working for me.
Who is thismonica you speak about? I have also been searching for a fin-adv who can direct us on where the economy is headed new year. I don’t live in a big city.
When I watch these "how much should you have by age" videos, it really does drop my spirits. Sadly, I'm one of the people who ignored the entire concept of retirement investing until I was 40( I know...incredibly foolhardy) and I'm 53 now. Although I am ahead of the 'average'(must be the median number he's displaying) for my age, by about 100k, I feel like I'll never catch up to where I SHOULD be had I just delayed buying crap and newer cars every few years that I didn't even need. Stupid, I know. Now I live lean, work an extra PT job to pay down the mortgage faster, and sock away 51% with the company match, but it's kind of too late to get to where I should be. That being said, I refuse to give up and will keep throwing everything I can at it, plus pay my house down quickly, but I can understand how some people might feel like there's no hope if they started late and don't make a large income. I mention it frequently to the young people I work with at both jobs, just how incredibly important it is to start investing young, as time is your financial super-power. I hope some of them listen and not do what I did.
Reading your post gives true meaning to the phrase that comparison is the thief of joy. Age 53 with 200k in retirement is a great position to be in. Sure it could be more; you were footloose along the way, but 200k is where the compounding will help along the way. I’m 62 with 600k in retirement; if you keep contributing and don’t touch that money, you should have more than 600k at my age. I worked at Fidelity my last 5 years in the workforce and I took many calls from people in their 60’s 70’s even 80’s who had nothing saved. Some had 10, 20, maybe 30k, it was sad. You are clearly not one of those callers. Keep working, but have a beer and celebrate; stop comparing yourself to Warren Buffet.
@@ewanfraser You did not want to listen to some of those calls. These people were old and could no longer work. They would ask me to check to see if they had a 401k. After searching, when I told them they did not, and how come they were calling us, they said they knew they did not contribute, they were just calling companies like Fidelity and Vanguard to see if some company that they used to work for put aside money for them. I remember one old lady crying and asking me: “What am I supposed to do, I have no money” I could only apologize, I had no other answer. Some had a 401k, took it out early and would call back 20 years later expecting something. I had a nurse call me during COVID, when the market was tanking. She said she was getting ready to retire, had not checked her 403B in an awhile and wanted to know the balance. It was around $30,000. When I told her, there was dead silence. Then she said: “That’s it? After 30 years looking after patients, that’s all I have?” She cried so hard that morning, I could not end the call, I had to wait until she composed herself. I will never forget that call. Trust me, the suffering is real for those who don’t prepare themselves for old age in America. No one is coming to rescue you. Keep up the good work.
You have $100k more in your retirement than most people your age even with a much later start than you would have liked. That’s something to be proud of. Thank you for sharing your wisdom with the young people in your life. Warren Buffet says once you hit $300k you are halfway to a million. So retiring a millionaire is not out of reach. Don’t be discouraged. You can’t change the past but you did change your future.
I'm 40 years old and have $50k in retirement funds. I have $43k less than the median. I can't save more because I make very little. My expenses are cut as much as they can be. I do have an emergency fund and a little bit of savings for like car repairs but I'll be working until I die no matter what I do.
I had zero financial education or role models growing up. My parents never invested so I never did either until I was 30 and after talking with an old coworker about how important it is. Thank goodness for that. Now 10 years later I still feel way behind, but contribute nearly 30% between my 401k and Roth IRA in order to hopefully catch up somewhat. Even today, it’s amazing to me how many other coworkers still don’t invest or participate in the 401k.
I got incredibly lucky when one of my grandpa's friends helped me set up my 401k and talked me into dumping 25% into my 401k with a 3% employer match. I let it go for 10 years and finally figured out how to change it 😂😂
Born in 1954. People relied on company pensions and social security for retirement back then. Company pensions are gone and replaced with 401Ks or TSP's. I started a mutual fund in my late 30's, $50 a month then to $100. It was all I could afford back then. Nobody talked about retirement. I retired from the Navy at 50% of base pay, now they have TSP. Then I retired from Customs and Border Protection after 17 years, at age 59. CBP had TSP and I started to get serious about retirement at about age 50. Paid off my only house to free up my cash flow. Collecting 50% VA disability and Social Security and two pensions, Navy and CBP, grossing $80K per year. I have two IRA's ($500K), but I don't draw from them yet. Being retired military takes care of medical needs. No debt. Doing way better than I thought I ever would.
’d rather you just start new positions in ETFs with future income and build that. I will advice you get yourself a financial advisor that can provide you with entry and exit points on the share/etf you focus on.
What are your thoughts on moving from individual stocks to ETF? That would mean selling and taking a loss on some stocks I want a balanced portfolio, with growth investments, safe investments, and also a focus on dividends to gain up to $20K monthly
a good number of people discredit the effectiveness of financial advisors/experts, but over the past 10years, I’ve had one consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but my portfolio can stand the test of time
@@kaylawood9053 ‘Marisol Cordova’. is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Im 41, parents taught me Ramsey principles when I was in college. I've had to prepare for an early retirement because of Type 1 Diabetes diagnosis when i was 11. Lets face it, I'm not going to see 70. I will be lucky to make it to social security age. I am planning on a retirement at 55, if not sooner. This is possible because I (and my spouse) have been following the baby steps for many, many years. These average numbers are very sad. Money guys did a podcast on this subject around the new year as well that is worth a listen.
Seeing those numbers, I'm grateful that my job of 9+ years has a mandatory pension. With how lacking my financial literacy was until recently, I'm not sure that I would've contributed anything or been as far along as I am right now. I still have some debt that I'm paying off but I'm making consistent progress for where I am in life.
My wife and i (mid 30s) just did our net worth calculation and were astonished to find out that combined we're net worth millionaires, with ~450k in retirement/investments. Years of driving 20+ year old cars with multiple shades of paint (or as i called it, "custom" paint jobs) and knocking out $170k in student loans literally paid off. To people going through the struggle, take it step by (non trademark) baby step. You'll get through it. Its worth it.
I'm 51. Wife is 58. All we have is $1,000 in savings and live pay check to pay check. Only debt is the mortgage, $760 a month. No pension, no 401K, no investments, no retirement of any kind. I have lots of health issues, but work delivery apps full time, which aren't providing near what they used to. Wife is self employed, works 60+ hours a week. I have an old Associate's Degree in Business, which is obsolete. We are barely keeping our heads above water. No car payments. No cell phone bill. No student loans. No medical debt. No credit cards. We don't eat out. Never take vacations. Don't buy gifts for anyone on holidays and birthdays. Receive food assistance and free health care and still barely surviving, much less saving for retirement. I'll be working until I die if I can't get things turned around and soon. We have a major income crisis.l
I'm 51 as well, and your situation hits close to home. It's tough out here. its not easy turning things around when you're in your 50s with little savings. I'm not an expert but maybe exploring online courses or certifications could help update your skills and open up new job possibilities. Hang in there
Your resilience is truly commendable, and I can relate to the challenges you're facing. Two years ago in a similar situation. I sought guidance from Emily Ava Milligan, a highly recommended personal advisor. With an initial $300k, her approach in stocks and real estate delivered an impressive 15% increase within the first year. Last year her portfolio adjustments led to an additional 50% growth, almost doubling my initial investment. For anyone considering a secure retirement, I wholeheartedly recommend Emily for professional advice
I can't imagine how tough this must be. Maybe creating a detailed financial plan and setting small goals could help. And don't hesitate to seek professional advice. You're not alone in this journey
@@KelleyPerkins Ive been in a similar spot a few years ago and sought advice from Emily, a recommendation from colleagues. My initial amount was close to yours, emily's insights in stocks and real estate led to substantial growth. Considering the situation, he should get financial guidance it will be beneficial no matter the situation. Professional advice, like Emily's, can be a valuable asset in securing your financial future. Wishing you the best on your journey towards financial well being. People usually think they waited too long to start financial planning. Bur rarely do people start their financial planning early
@@MichaelKeaton-np4fl I’m open to network with Emily, I’m looking her page up now I messaged twice i hope i get a response then schedule a call for later, any more leads? followed the first result when i looked her up
As a soon retiree, keeping my 401k on course after a rocky 2023 was my top priority, but I have been reading of lnvestors making up to 250k ROI in this current market, and it’s overwhelming. any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
The best course of action in the current market is to work with an investment advisor, especially for near-retirees. I've been working with a coach for a year now, primarily because I lack the depth of knowledge and mental toughness to handle these recurrent market conditions, even though I've already made over $320K in profits. It's evident that there are more aspects of the market that average people are unaware of than investment advisors are.
Dividend investing is most effective when approached with a long-term perspective. While dividends can provide immediate income, the true power lies in the compounding effect over many years. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas..
I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
29yo - 10k 401k, 30k in one roth and another 30 in another roth. 20k in first house fund. No debt never had debt. Biggest improvement i can make is getting a better job (47k a year currently) Once i get that contribute more to my own investments and savings.
Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject! Thanks to Mylah Evander the lady you recommended...
Mylah was interviewed on CNBC Television. You can use something else, for me the strategy works hence my result. She provides entry and exit points for the securities I focus on.
👍👍Great advice, George!! My husband and I are in our 50's and we retired 3 yrs ago. We started saving for retirement (401k) 35 years ago right after we got married. We started the Ramsey FPU plan 17 years ago and we now facilitate the class. It's been a real blessing to see the things God does by changing lives with the FPU couples! We are totally debt-free and we are now millionaires. 🎉🎉Any body can do this plan...it's pretty simple... just don't live beyond your means and If your outgo exceeds your income, then your upkeep will be your downfall. God is good...All the time. Live like no one else, so that later you can live and GIVE like no one else. That's the best part of all of this, you get to GIVE more. *Proverbs 3:5-6
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective consider financial advisory for informed buying and selling decisions.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Blaming any president for shrinkflation, rising rents and stagnant wages is the simple approach. Corporate greed, plain and simple, is the reason for all of the above. Corporations and investment funds are buying up rental properties across the country. Corporate America is taking record profits and handing it to their executives in large bonuses and quarterly earnings instead of paying their employees a livable wage. Our system is broken
I want to invest roughly $70,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stock?
It's crucial to have a well thought-out strategy and not make impulsive moved based on short-term market fluctuations. Patience and a long-term perspective are keys. you should consider a market expert to guide you
That's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2 years+
One of my goals is to employ the service of one this year. I've seen some off LinkedIn but wasn't able to get a response. Could you recommend who it is you work with?
Marisa Michelle Litwinsky is licensed fiduciary I use, just research the name you will fine necessary details to work with a correspondence to set-up an appointment
This recommendation came at right time, thanks very much I appreciate it, curiously inputted her full name on my browser and find her remarkably, have already set up an appointment hoping for a response
Opposite in this study. high income earners can still only add like 22,500 a year. If he removed them the average would actually go up. high income earner create individual accounts for outside control and better options at investing. Many 401ks are not very good from an option standpoint and only are only good for the matching.
Lots of amazing stories. Not everyone’s road is roses. Divorced ten years ago. Financially buried me. Never too late. Refocused on getting debt free and investing in 401k, mutual funds, invested in a rental property also. Found a good woman and we enjoy life. Call it balling on a budget. We don’t cheat ourselves but watch the money and invest every extra dollar. Now at 58 were well on track to retire comfortably at 65. Focus my friends and u can move mountains. It’s all about having options. Great video.
We are in our late 40s with $900k in 401ks, house almost paid off. We maxed out retirement investments in our 20s and it has quintupled. We have 3 pensions (military and civilian) so we decided to decrease investing to 5%. Air Force paid for our Master degrees. Focused on padding our brokerage account and piling cash to retire in a few years. Thank you to Jesus!
I am a little bit ahead which is perfect. I see some huge balances below but please remember… experiencing life is very important. Having a huge savings on your death bed with no meaningful relationships, experiences, and influences is extremely depressing. We will all become dust, a huge retirement account doesn’t change that.
It’s not all about have a big pile of cash on your deathbed. It’s more of enjoying your retirement years and then leaving a legacy behind to loved ones.
@@benb586 I don’t disagree, but in my industry which is in finance and death, I see this. People obsessing over insane amount of resources that they don’t get a chance to enjoy and I watch their kids blow it. Those kids wanted memories, but Dad or Mom were penny pinching or working every little bit. When the kids finally got it they spend it fast. Trust helps govern spending, but it also creates animosity. All I say is have a balance approach. Have a goal set and break down how you can live on it and enjoy retirement with good health and good family life.
I’m 32 and have 125k in my 401k. Started it when I was 21 years old. Very glad I did. But I only have like $2,000 in my emergency fund so I really need to do better there.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
She goes by '‘Nicole Desiree Simon’ I suggest you look her up online. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
Glad I started my 401k last year at 25. So far I put 8% plus 6% company match. Hope I can retire a millionaire. Will contribute 20% total later on. Just saving for a house atm.
Right on track! I’m 34 and starting investing 10% at age 24 and I already have a good chunk of money in my 401K. Once my kids are out of daycare and my house is paid off I’m throwing even more money at it!
I only have about 36k in my TSP account at age 39. I’ve made huge strides over the last year and a half and have learned a lot. Hoping I can catch up somewhat fast. House will be paid off in next year or two.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
Building a good investment portfolio is more complex so I would recommend you seek Brian Nelson support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams..
We are 75, retired at 60. Bought our retirement house, 850sf, 2/2/2 c. 6 yrs ago. Paid $500k cash, which we obtained by selling to our married daughter 50% equity in the house she grew up in. At our permanent demise she and her hubby obtain the remaining equity. Other two kids get our little house. All written up in our will. EZ PZ
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the adviser that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
I've shuffled through a few advisors in the past, but settled with Annette Christine Conte her service is exemplary. I'd suggest you research her further on your browser, sure you'll find her basic info.
very much appreciated, your response suggests a person of benevolence.. just inputted her full name on my browser, and came across her site, top-notch qualifications! she seems well-qualified
I'm 39. However, for my retirement I'm using three different accounts: 401k, Roth IRA, and a Roth 401k with the army reserves. When added together my retirement accounts add up to roughly $110,000. I guess that's not too bad since i reality didn't start investing until I was like 32. Now, if i add my brokerage account then I'm over the $131,000 i should be at.😊
@@jolanahoward he said in your 40s not exactly at 40. I was going off the 30s chart. I have 10 years in my 40s to hit that mark. Actually I think he said 45 I should have $460k (attention to detail my friend). Will I hit that mark. Eh. I dunno with the way the markets act. But I shouldn't be too far off by then.
36 years old, only have $8,500 currently in my 401k at my current job, but I do have about $26,000 in an IRA that was rolled over from 2 previous jobs. I also have about $20,000 in I Bonds which I treat as retirement money. Was left to me by my Grandma in 2005. At the time my Dad put the money in I Bonds, prob not the best thing, but prob wasnt the worst either. Big thing I feel for my is I have no student loan debt.
Turned 30 this year. $174k in retirement accounts. Wife and I will bring in total of $150k this year. Only debt is mortgage (at 2.75%!!) Think we're on a decent path.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
Yvette Ruta Musto' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@@GeorgestraitStriat However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
Im 25 years old just paid off my mortgage and have 135k in retirement and i make 85k to 95k a year as a factory worker, working about 60 hours a week for 6 years. I plan on retirement around 50 years old
I've been adding to my 401k every year, so basically my paychecks have been getting smaller since I add higher percentage to the 401k than my raise percentage. Right now contributing about 15.5%, plus company match, which seems to be 3.4%. I'm 52, and my 401k balance is $268,655.43. According to Vanguard, my fund is well funded, but I'm not going to stop increasing the amount I put in.
Pause investing now to pay debt off. Not investing in retirement (temporarily) pushed me to be debt-free faster because I hated missing out on the most precious resource; time.
You got this, man. You're going strong! I did the same thing you did, but unfortunately started at age 40(yeah, I know...stupid) . Every raise(+ an additional 1-3% each year) for the last 10 years has gone directly to increasing the 401k Roth contributions to the point that I'm capped now(happened last year). I'm almost where you are balance-wise, but I lost SO much time being irresponsible and should be WAY farther ahead than I am. I'm hoping that, if I keep throwing everything I can at it, the progress will still allow me to retire reasonably comfortable with a paid-for home. Fingers crossed.
@@jasonmoquinI have been at my current job as a full time employee for 11 years, so I actually started my 401k when I was 41. @dr_pinna543 Not sure I would want to do that since I am contributing well, paying my mortgage, and still saving money. I have 5 close to 6 months in my emergency fund.
It depends what the interest rate on his debt is. It doesn't make sense to stop contributing to retirement for awhile in order to get rid of a low interest debt (low is in 3% and under). @@dr_pinna543
Dude....don't listen to these money guys. Where are all these 50 yo millionaires? What george and other present is a flawed representation of reality. So many people don't spend on BS, don't go to starbucks and still can't put 600$ on the side every month, ALL THE TIME, for 20 years. I checked the data, less than 15% of 50yo people have a 1M net worth..so obviously something is wrong with that these guys show in their videos.
At this point, someone in their 20s making $50k is going to have a pretty difficult time saving 15% in most areas. Cost of living these days is going to have them strapped. Also, I’m behind in my 40s. But rapidly catching up.
Wow! I am 52 years old and have 250,000 into my 401k. However I had changed 5 jobs and save and invested in my previous jobs! All together ,I actually have over 450,000 not including my mortgage 😊
We hit just EDM at 53/49 with our retirement - we started in our mid-30s putting 15% of our gross and if you add our house we are getting close to 2m. Been following Dave's plan since 2005, we have been debt free since 2009. Thanks for sharing!!! Keep up the GREAT work! -Matt in TEXAS
Why are you using a 10% rate of return when projecting out that far into the future? What about inflation? You should be using 5-7% to put it in terms of today's dollars. By not doing that you give people a false sense of security.
Perfect topic. I'm 3 years in retirement @57, did a good job in the accumulation phase with net worth of $3M+. The problem is I haven't spent any of it despite knowing I have no concerns of running out of money. Some minimalist traits that helped me save are not easily cast aside. I sense I'll be dead and gone with plenty of money left behind, but that was never a goal.
I have a feeling I’m going to be in your boat too. I’m 52 and have $3mil socked away. I hope to retire as soon as next year. But I’ve been in a frugal savings mindset my whole life. That transition without feeling anxiety is going to be tough.
Excellent video. I'm 63 and single with $2.3 million saved ($1.3 in Roth IRA). I bought a t-shirt for $80 last week. Today, I have five more t-shirts arriving. They cost $54/each. I grew up very poor (no toilet, shower/tub, bathroom until I was 10). I plan to move to Los Angeles in two years. It looks like I'll have to spend $1.5 million for a home. I'm trying to spend. p.s. I retired at 48.
I'm glad I found this conversation. I recently settled a lawsuit and would like to talk to your coach about investing for my retirement.
Stacy Lynn Staples" is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look her up.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
I just turned 48 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $350k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 5 years, my FA has consistently restructured and diversified my portfolio and expenses, resulting in over $1 million in gains. While it might not seem like a huge amount, retirement now feels within reach.
Hello, I'm interested in trying this out. Who is your FA, I'm gasping for breath. Have been doing things myself but it's clearly not working
My CFA, Judith Lynn Staufer, is a renowned figure in her field. I recommend researching her name online; you’ll find all her credentials and everything you need to work with a reliable professional. With many years of experience, she is a valuable resource for anyone looking to navigate the financial market.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Your allocation looks solid. Consider dollar-cost averaging & dividend reinvestment. I suggest you consult with a financial advisor for guidance.
Absolutely! Wealth is made in bear markets. We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q2 taxable divs this year was $17,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.
Well it seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved.
''Amy Desiree Irish'' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
It's true that many people underestimate the importance of advisers until their own feelings burn them out. A few summers ago, following an ongoing divorce, I needed a significant push to keep my company afloat. I looked for licensed advisors and found someone with outstanding qualifications. She has contributed to my reserve increasing from $275k to $850k regardless of inflation.
Jennifer Lea Jenson is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
@@Camila.Gomes1REPORTED! SCAMMER!‼️🚨🚨
I just 30 this year and have just under $40k in my own 401k and another $10k between my other retirement accounts. My wife has about $41k in her retirement accounts (she is not currently working). I currently make close to $63k a year. I only do 5% though to my 401k for the company match and another 10% of my income is split between an HSA and a ROTH IRA
I have $295,588.25 in my Fidelity retirement account. I cranked my contributions up to 35% and I do all the investing on my own. Fidelity just holds my ETFs/stocks. I made that change earlier this year. I'm hoping to end the rat race by 60 but it's looking more like 63-ish. I want to have $1.5M and bring in about $60k in dividends each year. Pedal to the floor! Thanks for the video. Great content.
I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
As a new investor it's always great to hear from a person who has gone through all the difficult times and come ahead of it. What are some strategies i can employ to be successful?
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Watch the great taking by david webb. Your money is not going to be there for you.
As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
I'm guided by “Annette Christine Conte” an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
Annette Christine Conte is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Then, should those of us who are over 50 but have less than a million worry? I worry that I'm getting close to retirement because I only have $500k in my Roth and I have no idea how to build it.
A few years ago, I found myself in a similar situation. I had anxiety all the time. My worry vanished after I made the decision to begin working with a financial counselor and began to get large monthly profits.
Well, that's also my answer, even though I'm not retired. I've been relying on a fiduciary to handle my portfolio for the past seven years because, as a contractor, I don't have much time to research assets. I have expanded my portfolio by up to 300% and been able to navigate market volatility with greater effectiveness thanks to this method. You could think about taking a similar tack.
This sounds very incredible. Could you recommend who you work with please
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Just a recommendation to look into:
As soon as you can possibly take Social Security, take it and invest all of it. (Provided you can still work and have a job 401k plan of sorts). This way you are "extra investing" with the SS money while still working. If you can work for at least another 7-8 years then you'll be set.
The other main key is you'll be able to live off significantly less if you have zero debt. No mortgage allows you to live off just the monlthy interest of the 500k.
Again, just a recommendation, I assumed a lot info about you and your lifestyle/where you're at.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around $300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’COLLEEN ROSE MCCAFFERY” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Rachel Sarah parrish is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.{
I'm 42 with $997k in my 401k. I started working full time right out of high school. I'm still with the same company. I've been in their 401k plan since I was 18. I contribute 10% and get a 4.75% company match. Compound interest is you best friend. The sooner you start, the better off you are.
Financial stud.
Roughly were i was at your age. 750k home equity and 1.4M in 401k/IRA, 47 y/o
@@gbb82 Thank you 👍
@@teddyruxpin7876 excellent work my friend.
You are killin' it!
As a 59 year-old I tend to avoid these videos as I know I am Waaay behind, but my Mantra is "I'm at where I'm at and I will do my best in the now" I got all my debts paid off 2 years ago, have a 6 month emergency fund, and am up to 15% invested in IRA./401k per month right now. In 18 months I will be through helping my daughter with college and can throw even more $$ at retirement.
Nice to help your daughter but if you are really behind be careful.
@@dustyrhodes2717 I understand the logic but my parents paid for my college and I am only contributing a portion of my Daughters, something I do as a matter of principle.
I know this may sound harsh but your college-aged daughter has a lot more time than you do to build her retirement savings. It's worth considering focusing on beefing up the funds that you will need to survive on for the next 30 or so years. It would be a hard conversation but with time your daughter would understand.
@@lailas.3205 I understand the logic but my lack of retimrement is my issue, not my Daughters. I would like to provide for her what my parents did for me a debt free start to life after college. And I am contributing quite a bit to retirement right now and will increase my savings when she graduates in a year
Bought my first home at 53. 😏 Literally not the smartest apple in the bucket. It took me decades to figure out my career. Hindsight thank God I didnt get student loans. I worked low paying jobs(more than 2 sometimes)until I was around 40. I graduated from community College at 39 finally found a decent paying job at 40. Ive currently been there 13.5 years. Found Ramsey 5 years ago and ive been debt free since then. I purchased a home 15 months ago and now I'm focused on paying it off. I work overtime to get it done faster. I have CD, 401k and regular savings. Yet I will probably be working til Im in my 70's. 😏 I pray for strength, great health and right state of mind. 🙏🏿
you have an awesome story. best of luck to you and i hope that you'll be able to accomplish all that you set out to do.
Thx for sharing
Economics have been sounding off on just how bad they think the next downturn might be. I need ideas and advice on what investments to make to set myself up for retirement
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. hence I will suggest you get yourself a PRO, someone that can provide you with entry and exit points.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
Please can you leave the info of your investment advisor here? I’m in dire need for one.
’'Jenienne Miniter Fagan’’ is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment
Thank you for this amazing tip. I just looked up Jenienne, wrote her explaining my financial market goals and scheduled a call
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I’m 24 years old, I have a bachelor’s degree and an MBA, I have a paid-for car, and I just became debt-free on Thursday the 18th of January.
Have the same degrees and retired at 60 - start saving 15% now and your 50 year old self will thank you! I did not get serious with 15% until about age 30. Hit $1mil nest egg at about 55. About 1/3 was contributions (me and employer), the rest, growth. Never had any debt other than a mortgage. (Actually did have about $10K school loans but paid those off in a couple years.)
Good on you! Now keep your debt down and rack up the savings now. It will amaze you how much it will compound to when you are my age. Compounding works!
Congrats, I did that once and the feeling was wonderful, it's nice to have cash stacking up everywhere once your hard earned money isn't going to your debt masters.
good for you! start saving as much as you can allow yourself in your retirement investments. I’m doing good but I also wish I sacrificed even more at your age
I bought my house at your age have a pension,multiple retirement accounts,multiple cars and am on track to make six figures in a few years I turned 28 on the 18th. No college by the way and I’m gonna out earn 99 percent of you.
This is amazing. “Wealth has no shortcuts, there’re ways to attain it.”
l made better decisions that grew my finances (over 1M in 2yrs) with heIp of my financiaI pIanner. Got my 3rd house Iast month, and will retire soon.
Elizabeth Greenhunts
Get to her with her name..
Kudos.
Many needs this info. Good stuff.
The problem we have is because Most people always taught that " you only need a good job to become rich. These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than
money saved, when you invest it gives
you the opportunity to increase your
financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
The wisest thing that should be on
everyone mind currently should be to
invest in different streams of income
that doesn't depend on government
paycheck, especially with the current
economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the appropriate method and assets, some investors will still outperform others. As an investor, you should already know that nothing surpasses experience, and that is final. Personally, I had to seek advice from a stock specialist, which allowed me to build my account by over $35k, extract my profit just before the correction, and now I'm purchasing again.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
consider investment planning, learning from a well experienced advisor is invaluable
Could you possibly recommend a CFA you've consulted with?
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I have about ($190k) liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at stocks instead?
Yes, housing crash is coming. If you're thinking about investments to earn huge income while maintaining the ability to access your money and safety, so you don't get caught in a market decline, a financial planner can come in handy
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
This is exactly how i wish to get my finances coordinated ahead or retirement. Can I get access to your advisor?
She's “Sonya Lee Mitchell'. I choose to delegate my excesses to her because of her expertise. I suggest you look her up.
Sonya Lee Mitchell is her name. She works for Empower Financial Services.
Seeing the struggles of those in their 60s and 70s is truly eye opening. It's a stark reminder of the importance of taking charge of our financial futures, regardless of our age
It's never too late to make a change. despite health challenges forcing me to consider retirement at 56, I committed to smart investing. Fast forward two years, and I've saved $1 million, closing in on my $2 million retirement goal by age 60. It's a journey of resilience and determination
you are lucky to have turned things around as timely as you did. But hey, better late than never, right? I'm in my 30s and feeling the pressure to catch up
I credit my research that led me to Emily ava milligan, a top fund manager, rather than luck. 300K to this amount was not coincidence. time to buckle down and get serious
our journeys share similarities. Following my divorce settlement that left me with $215k, I entrusted an investment to a skilled fund manager. In just two years, that decision turned my returns into $1.1 million. i’m eyeing a countryside retreat for retirement
After quickly copying and pasting her name into my browser, her website popped up immediately. It's rare to stumble upon such tangible examples for reference. Thanks for sharing
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
These numbers suggest a lot of people are not going to be prepared for retirement. Not even close....
My wife and i have been busting our butts with the 15% just like they said and we make decent money in my opinion and our employeers really just dont match 💩. 401k match is 2%
If what they say is true then we are never going to retire
Correct. My employer only matches 2% also but I’m putting 25% of my paycheck towards 401k but I’ll consider 30% soon and I’ve only been at my current employer for 6 months so I’ll also consider somewhere else if the money is good and 401k contributions are also better
Yep
@@gabrielj.negrontroche4188you're doing great man its a process and you'll get there! Some companies like mine don't match at all, so 2% is better than nothing! It at least covers any 401k fees.
@@gabrielj.negrontroche4188I don’t have any match so count yourself lucky
I think most people in their 20s could not afford to invest 625$/mo. I know that I would have struggled to invest more than 200$/mo
I think it's about prioritizing whatever you can invest. I probably spent $2,000 on crap every month in my 20s and told myself that I didn't have enough to invest in retirement.. Boy I wish I did something instead of nothing back then.
Agreed, a better approach would be starting with a smaller percent, then include salary increases and gradually increasing contribution. But the example George uses is less complicated for a quick run through as he is doing. But the numbers end up the same or similar, using conservative salary increase, and ending up at 15-25% contrib in 60's.
@avisharma1006 After taxes in my 20s, I barely made 2400/mo, best u could do was 200 each month to save. I did better later, but the vast majority of people will never have the income to really start this, one thing never really talked about.
Exactly! I was well aware of this even in my twenties but despite my best efforts to make a higher salary, it didn't happen until my 50s. @@agtsmith87
I'm in my 20s investing exactly 625 a month. However, many people my age have loads of debt, wasteful spending, and no aspirations of sustaining their own lives. You get out what you put in
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@claircourtway That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@FernandoBowen-78 My advisor is VICTORIA CARMEN SANTAELLA;
You can look her up online
Nah I Can't say I can relate, VICTORIA CARMEN SANTAELLA charge is one-off and pretty reasonable when compared to what I benefit in returns.
Thanks for the video. I finally established a way to increase my net income per month. My 2024 goal is to pay off the house by Sept 2024 (8 years total into a 30 year @ 4%). I have no debt other than mortgage. My
401k, HSA, IRA and emergency funds get maxed out. The mortgage is my last piece of debt left. I don't have any school loan or CC debt. I've made a lot of sacrifices over the years. I'm almost at the debt free finish line.
Congratulations on taking the steps necessary to get yourself out of the financial bind you were in.
Facing your medicine can be difficult. However, with commitment, you'll ultimately reach a highly satisfying place. It's all about the actions you're willing to take.
Your financial journey is truly inspiring, and I'm currently striving to achieve the goals you've reached. Could you please share some tips to help others learn and navigate their own paths to financial success? Your insights would be invaluable.
Samuel Peter Descovich that's whom I work with
SAMUEL PETER DESCOVICH
GOOGLE the name
I'm left struck with thousands of dollars disappearing from my 401k due to soaring inflation, and my concern is where to safeguard and grow remaining cash about $500k+ for the next 2-3 years at no risk, my goal is to retire early and afford my lifestyle after retirement.
True. I’ve been investing in the money market for 11 years now, last 5 years with the help of a financial planner. Throughout these years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1m roi as of today. My best so far
"Jill Marie Carroll" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
My 401k is doing great. This inflation is not hurting the rich nor stock market. You need to see a financial advisor if you are loosing money in the stock market.
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
I work with *Jennifer Leigh Hickman* as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
VOO and chill.
Jennifer Leigh Hickman and anyone who recommends “her” is a scammer
The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings to about $1M over time?
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
impressive gains! how can I get your advlsor please, if you dont mind me asking? I could really use a help as of now
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I’m 29 and only have $40k in my 401k, but if you add together my other retirement accounts (IRA, Roth IRA, HSA) I just crossed the $100k mark. Gotta beat that average 💪
Age 29 and only have 40k in 401k? You’re doing good and you’re on your way, as long as you keep contributing and don’t withdraw from it until retirement. I started contributing to retirement at age 30 in 1992. I’m age 62 now and my investments total a little over 600,000, and I contributed peanuts the first ten years. Thankfully I have a military pension so I don’t need to touch that now. Keep up the good work.
Good on you! I did the same in my 20s. Now I'm in my 50s and amazed by how much it compounded! Keep at it!
When did you start maxing Roth?
You are killing it, keep at it!
@@TartarianTopG I opened my Roth at 18, but was only able to max it out in the last two years. Before that I would just contribute what I could
I feel so blessed to have had a dad who taught me the importance of investing and the power of compound interest. #1 rule was to put materialistic items and toys on the back burner for the 1st 10 years of my career and invest every single dollar I could. Well I did! From the age of 23 and now today, I'm 36... I have a Roth 401k balance of $355,000!!! And as a bonus, all of these dollars are after tax because I convert my company's contributions at the end of the year, every year. With an annual average of 10% growth just investing $1,000 a month till the age of 56 I am projected to have 3 million in Tax Free Money people!!! If you are in your early 20s I cannot express enough how important is to put away the things I mentioned in rule #1.
There seems to be skepticism amongst investors regarding the Federal Reserve's plan to continue increasing interest rates until inflation is stabilized. As for myself, I find myself at a crossroads, uncertain whether to invest $150,000 into my stock portfolio. I'm seeking advice on the best strategy to capitalize on this current market.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
I know a beautiful man with a mild learning disability, who worked for a grocery until he died recently unexpectedly in his late 50’s with a wife and daughter. All of his siblings have advanced degrees in high-power professions but this humble man lived a humble life and put back for retirement from day one and had a life insurance policy. Everyone was surprised how he left everything beautifully set up for his wife and child financially. They will be fine. The power of compounding and saving is a wonderful thing to harness for your family.
Everyone likes this!
What I get from that is retire early and spend some of that money to enjoy life along the way.
Smart for him setting everything else up though.
I only did the 4% match for the first 10 years of work. Then did about 10% for a few. Now I’m doing 27%. I love watching it grow. I now have $210k at age 41.
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Melissa Jean Talingdan is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject ..... Thanks to Joyce Wooldridge the lady you recommended.....
*SHE'S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME*
Expt Joyce
My so called target retirement fund in 401k had absolutely terrible return compared to sp500. I moved all to sp500 but biggest regret of my life I didn't do it sooner..What else is best way for me to invest 200k for solid cashflow?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of 5%.
you need a certified financial planner straight up! personally, I invest in ETF's and also love investing in individual stocks. yes it’s riskier but am comfortable in my financial environment
You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Well, I chose *Sharon Lynne Hart* as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification. You should look her up
My company contributes 8% even if you dont contribute at all, so been doing 16% for 11 years. My balance is at around 243k right now, and I'm 34! Now focusing on baby step 2 and paying off debt!
That’s a good deal!
@@tonypreston7278 we also get a bonus 2.5% salary bonus each year contributed if the company is profitable which it usually is.
Solid, dude! Keep up the good work.
@@WRBWRXWGN thanks! I recently reduced my contributions to zero, but work still does 8% so I can focus on consumer debt. Hoping to tackle four or five credit cards this year and 5k of student loans left
@victorblas3483 Is it Roth? Remember match beats Roth, Roth beats traditional. So if they give 8% regardless it isn’t considered match. If it’s a Roth with great options stick with it! But if it’s traditional I would switch your contributions to a Roth.
We are 60+ years old, both had to retire early due to severe medical conditions. I never thought we would be millionaires but the calculation of our net worth has proven me wrong. If you max out the 401K contributions it can be hard to get used to at first but after a short time you will realize that you do not miss the money. Think about the big purchases that require monthly payments, extravagant vacations, going out to eat more than you cook at home, every purchase that is not in your monthly budget. Do you want the ability to retire when you need or want to and enjoy the retirement or do you want to create your future retirement based on owning an expensive car or going on an extravagant vacation. Don't assume you will be capable of working until the age of 65, plan your future by making smart decisions with your money, you never know when the day will come when you can no longer work.
Well said!
But have you lived? No snark, I just don't see the point of scrimping all you life and then you just spend all that on medical bills. It doesn't seem like living to me.
I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.
It's impressive how much you saved during your working years, a feat not many achieve in a lifetime. Now that you're retired and rely on your investments, it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.
Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Rachel Sarah Parrish is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Sadly, this entire video is based upon whether or not you invested $625.00 / month starting at age 25. Now I'm sure there are some folks out there who were able to do that. I am not one of those folks. And I feel that there are millions of others like me, who started with less money and perhaps a bit later than that.
This entire video assumes that you have wealthy parents who pay for your college and set you up with a cushy high income job in your 20's. If you're working at McDonalds or hell even starting a white collar career in your 20's this video is pure fantasy. If you have college loans you have to pay yourself and then have children it's downright hilarious, or crushingly depressing.
And if like me you have a chronic illness that wiped out your savings it makes you feel like giving up.
All these calculations assume you never have children, never become long-term unemployed, never have loans to pay, and never get sick. Insanity unless you're from a rich family.
@@darinherrick9224 Facts, my adoptive parents are both doctors and didn’t get out of debt until they were in their late 30s and had their own practices.
I did it in my late 20s, but had a substantial structured settlement from multiple class action lawsuits which propelled me to success, otherwise I’d still be 34 today working a regular job, barely making it.
You need luck, something most unfortunately don’t have.
@@darinherrick9224 You are absolutely correct. I've been working jobs since the age of 10 and now getting close to 60. I started saving as much as I could in my early 20's, lived within my means, been laid of from jobs twice and overcame cancer. So much of life is financial luck.
Just follow these guys. Don't buy expensive cars or trucks. Also never stop trying to make more money
I am 25 years old with just over 5k in retirement savings, I just started last year. I saved 15%
Keep on that path and you’ll be set! I didn’t start until I was 28 and I have a half million now in my mid 40s. That with a paid off house makes a comfortable retirement very likely.
Good on you bud!
@@tracyaf6084 I just turned 28 years old last week with just over 5k in retirement savings in my Traditional 401k. I started last year as well and only save 6% with my company match. What should I do differently or add to my portfolio the way you did since you started at that age as well to get where your at? If you could of done it differently what would that be? I want to start my savings journey the right way this year and save more.
You will be so glad you did this! I started saving when I was young (now 64)... I'm in OK shape but I should have
saved even more so don't underestimate your contributions.... NOTHING is going to get cheaper in the future :) The
important thing is that your paying attention to this now... BRAVO!
Age 29, $160k in my 401K. I contribute 7%, my company matches 7% for 14%.
Also just opened a ROTH IRA in addition this year and will be maxing that out @ 7k annually from now on.
Abt the same 170k age 29 but I get a pension that’s about 800$ a month.
How much do you make?
@@NWI_Steel Started off at 50k, stayed with the same company since I was 21, now at $125k.
What is the 401K invested in?
@@glasshalffull2930 It's a large variety of mutual funds and ETFs.
Approximately 30 funds weighted towards aggressive growth for now since I'm in my twenties.
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
Yes, you are right. it's been a brisk tailwind for investors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financial advisor.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with 'MICHELE KATHERINE SINGH' for the last five years or so, and her returns have been pretty much amazing.
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am 60 years old, recently retired, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Colleen Janie Towe who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Bruh
I enjoyed this content. Although I have been watching less yt and doing more research. My retirement contributions are not making my 401k any better, should I buy popular index funds in a brokerage account, is this a better alternative to outperform and rebuild my retirement?
My suggestion to any investor old or new is to always learn to do your own research and don’t just go buying stocks without proper considerations. Most of what is pumped out by the media is what most TH-cam ‘fin-entertainers’ churn out to you as fear uncertainty and doubt.
Agreed. That and reading some basic principles laid out in books like The Intelligent Investor by Benjamin Graham. There are also good TH-camrs out there like Felix, Graham Stephan, Humphrey Yang and a few others, but generally you are right.
Its unclear which stocks and sectors will lead the market in the next uptrend. Stay away from the stock market if you do not have guidance from a plannner and investment strategist. My finances have been in order since I got a wealth planner like Monica with a 600 B AUM working for me.
Who is thismonica you speak about? I have also been searching for a fin-adv who can direct us on where the economy is headed new year. I don’t live in a big city.
monica mary strigle...consult w/ this lady no upfront fees.
When I watch these "how much should you have by age" videos, it really does drop my spirits. Sadly, I'm one of the people who ignored the entire concept of retirement investing until I was 40( I know...incredibly foolhardy) and I'm 53 now. Although I am ahead of the 'average'(must be the median number he's displaying) for my age, by about 100k, I feel like I'll never catch up to where I SHOULD be had I just delayed buying crap and newer cars every few years that I didn't even need. Stupid, I know. Now I live lean, work an extra PT job to pay down the mortgage faster, and sock away 51% with the company match, but it's kind of too late to get to where I should be. That being said, I refuse to give up and will keep throwing everything I can at it, plus pay my house down quickly, but I can understand how some people might feel like there's no hope if they started late and don't make a large income. I mention it frequently to the young people I work with at both jobs, just how incredibly important it is to start investing young, as time is your financial super-power. I hope some of them listen and not do what I did.
Reading your post gives true meaning to the phrase that comparison is the thief of joy. Age 53 with 200k in retirement is a great position to be in. Sure it could be more; you were footloose along the way, but 200k is where the compounding will help along the way. I’m 62 with 600k in retirement; if you keep contributing and don’t touch that money, you should have more than 600k at my age. I worked at Fidelity my last 5 years in the workforce and I took many calls from people in their 60’s 70’s even 80’s who had nothing saved. Some had 10, 20, maybe 30k, it was sad. You are clearly not one of those callers. Keep working, but have a beer and celebrate; stop comparing yourself to Warren Buffet.
@@gbb82why were they calling Fidelity with nothing saved? Were they trying to start at the end of the race?
@@ewanfraser You did not want to listen to some of those calls. These people were old and could no longer work. They would ask me to check to see if they had a 401k. After searching, when I told them they did not, and how come they were calling us, they said they knew they did not contribute, they were just calling companies like Fidelity and Vanguard to see if some company that they used to work for put aside money for them. I remember one old lady crying and asking me: “What am I supposed to do, I have no money” I could only apologize, I had no other answer. Some had a 401k, took it out early and would call back 20 years later expecting something. I had a nurse call me during COVID, when the market was tanking. She said she was getting ready to retire, had not checked her 403B in an awhile and wanted to know the balance. It was around $30,000. When I told her, there was dead silence. Then she said: “That’s it? After 30 years looking after patients, that’s all I have?” She cried so hard that morning, I could not end the call, I had to wait until she composed herself. I will never forget that call.
Trust me, the suffering is real for those who don’t prepare themselves for old age in America. No one is coming to rescue you. Keep up the good work.
You have $100k more in your retirement than most people your age even with a much later start than you would have liked. That’s something to be proud of. Thank you for sharing your wisdom with the young people in your life. Warren Buffet says once you hit $300k you are halfway to a million. So retiring a millionaire is not out of reach. Don’t be discouraged. You can’t change the past but you did change your future.
I'm 40 years old and have $50k in retirement funds. I have $43k less than the median. I can't save more because I make very little. My expenses are cut as much as they can be. I do have an emergency fund and a little bit of savings for like car repairs but I'll be working until I die no matter what I do.
I had zero financial education or role models growing up. My parents never invested so I never did either until I was 30 and after talking with an old coworker about how important it is. Thank goodness for that. Now 10 years later I still feel way behind, but contribute nearly 30% between my 401k and Roth IRA in order to hopefully catch up somewhat. Even today, it’s amazing to me how many other coworkers still don’t invest or participate in the 401k.
How do you do this without hitting contribution caps
I got incredibly lucky when one of my grandpa's friends helped me set up my 401k and talked me into dumping 25% into my 401k with a 3% employer match. I let it go for 10 years and finally figured out how to change it 😂😂
Born in 1954. People relied on company pensions and social security for retirement back then. Company pensions are gone and replaced with 401Ks or TSP's. I started a mutual fund in my late 30's, $50 a month then to $100. It was all I could afford back then. Nobody talked about retirement. I retired from the Navy at 50% of base pay, now they have TSP. Then I retired from Customs and Border Protection after 17 years, at age 59. CBP had TSP and I started to get serious about retirement at about age 50. Paid off my only house to free up my cash flow. Collecting 50% VA disability and Social Security and two pensions, Navy and CBP, grossing $80K per year. I have two IRA's ($500K), but I don't draw from them yet. Being retired military takes care of medical needs. No debt. Doing way better than I thought I ever would.
’d rather you just start new positions in ETFs with future income and build that. I will advice you get yourself a financial advisor that can provide you with entry and exit points on the share/etf you focus on.
What are your thoughts on moving from individual stocks to ETF? That would mean selling and taking a loss on some stocks I want a balanced portfolio, with growth investments, safe investments, and also a focus on dividends to gain up to $20K monthly
a good number of people discredit the effectiveness of financial advisors/experts, but over the past 10years, I’ve had one consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but my portfolio can stand the test of time
I've been looking to switch, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
@@kaylawood9053 ‘Marisol Cordova’. is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Im 41, parents taught me Ramsey principles when I was in college. I've had to prepare for an early retirement because of Type 1 Diabetes diagnosis when i was 11. Lets face it, I'm not going to see 70. I will be lucky to make it to social security age. I am planning on a retirement at 55, if not sooner. This is possible because I (and my spouse) have been following the baby steps for many, many years. These average numbers are very sad. Money guys did a podcast on this subject around the new year as well that is worth a listen.
I pray that you to be able to see beyond 80
Seeing those numbers, I'm grateful that my job of 9+ years has a mandatory pension. With how lacking my financial literacy was until recently, I'm not sure that I would've contributed anything or been as far along as I am right now. I still have some debt that I'm paying off but I'm making consistent progress for where I am in life.
My wife and i (mid 30s) just did our net worth calculation and were astonished to find out that combined we're net worth millionaires, with ~450k in retirement/investments. Years of driving 20+ year old cars with multiple shades of paint (or as i called it, "custom" paint jobs) and knocking out $170k in student loans literally paid off. To people going through the struggle, take it step by (non trademark) baby step. You'll get through it. Its worth it.
I'm 51. Wife is 58. All we have is $1,000 in savings and live pay check to pay check. Only debt is the mortgage, $760 a month. No pension, no 401K, no investments, no retirement of any kind. I have lots of health issues, but work delivery apps full time, which aren't providing near what they used to. Wife is self employed, works 60+ hours a week. I have an old Associate's Degree in Business, which is obsolete. We are barely keeping our heads above water. No car payments. No cell phone bill. No student loans. No medical debt. No credit cards. We don't eat out. Never take vacations. Don't buy gifts for anyone on holidays and birthdays. Receive food assistance and free health care and still barely surviving, much less saving for retirement. I'll be working until I die if I can't get things turned around and soon. We have a major income crisis.l
I'm 51 as well, and your situation hits close to home. It's tough out here. its not easy turning things around when you're in your 50s with little savings. I'm not an expert but maybe exploring online courses or certifications could help update your skills and open up new job possibilities. Hang in there
Your resilience is truly commendable, and I can relate to the challenges you're facing. Two years ago in a similar situation. I sought guidance from Emily Ava Milligan, a highly recommended personal advisor. With an initial $300k, her approach in stocks and real estate delivered an impressive 15% increase within the first year. Last year her portfolio adjustments led to an additional 50% growth, almost doubling my initial investment. For anyone considering a secure retirement, I wholeheartedly recommend Emily for professional advice
I can't imagine how tough this must be. Maybe creating a detailed financial plan and setting small goals could help. And don't hesitate to seek professional advice. You're not alone in this journey
@@KelleyPerkins Ive been in a similar spot a few years ago and sought advice from Emily, a recommendation from colleagues. My initial amount was close to yours, emily's insights in stocks and real estate led to substantial growth.
Considering the situation, he should get financial guidance it will be beneficial no matter the situation. Professional advice, like Emily's, can be a valuable asset in securing your financial future. Wishing you the best on your journey towards financial well being. People usually think they waited too long to start financial planning. Bur rarely do people start their financial planning early
@@MichaelKeaton-np4fl I’m open to network with Emily, I’m looking her page up now I messaged twice i hope i get a response then schedule a call for later, any more leads? followed the first result when i looked her up
As a soon retiree, keeping my 401k on course after a rocky 2023 was my top priority, but I have been reading of lnvestors making up to 250k ROI in this current market, and it’s overwhelming. any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
The best course of action in the current market is to work with an investment advisor, especially for near-retirees. I've been working with a coach for a year now, primarily because I lack the depth of knowledge and mental toughness to handle these recurrent market conditions, even though I've already made over $320K in profits. It's evident that there are more aspects of the market that average people are unaware of than investment advisors are.
that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
*Natalie Marie Gentry* You can easily look her up she has years of financial experience
Dividend investing is most effective when approached with a long-term perspective. While dividends can provide immediate income, the true power lies in the compounding effect over many years. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas..
I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
impressive gains! how can I get your advlsor please, if you dont mind me asking? I could really use a help as of now
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
FXIAX and relax
29yo - 10k 401k, 30k in one roth and another 30 in another roth. 20k in first house fund. No debt never had debt. Biggest improvement i can make is getting a better job (47k a year currently) Once i get that contribute more to my own investments and savings.
Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject! Thanks to Mylah Evander the lady you recommended...
Everyone needs a different stream of income, such as where one can invest some parts of his or her monthly income.
That woman has changed my life for good. I attended Mylah's class a couple of weeks ago and she's awesome when it comes to guidance...
*SHE'S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME*
*EXPERT MYLAH*
Mylah was interviewed on CNBC Television. You can use something else, for me the strategy works hence my result. She provides entry and exit points for the securities I focus on.
👍👍Great advice, George!! My husband and I are in our 50's and we retired 3 yrs ago. We started saving for retirement (401k) 35 years ago right after we got married. We started the Ramsey FPU plan 17 years ago and we now facilitate the class. It's been a real blessing to see the things God does by changing lives with the FPU couples! We are totally debt-free and we are now millionaires. 🎉🎉Any body can do this plan...it's pretty simple... just don't live beyond your means and If your outgo exceeds your income, then your upkeep will be your downfall. God is good...All the time.
Live like no one else, so that later you can live and GIVE like no one else. That's the best part of all of this, you get to GIVE more. *Proverbs 3:5-6
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective consider financial advisory for informed buying and selling decisions.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Blaming any president for shrinkflation, rising rents and stagnant wages is the simple approach. Corporate greed, plain and simple, is the reason for all of the above. Corporations and investment funds are buying up rental properties across the country. Corporate America is taking record profits and handing it to their executives in large bonuses and quarterly earnings instead of paying their employees a livable wage. Our system is broken
Age 52 - $2.6M in all retirement accounts combined. No debt. No mortgage. House value is $2M.
That’s goals right there.. well done 👏🏻 2M house paid off is crazyyyy
@@spdog3344 We paid it off last summer. Paid off the last $900K of it in 30 months. It was every extra penny we had.
Great Job! Age 44. $2.8M. Two paid off houses worth $2.3M.
@@boredoreos Daaang!! Nice work!!
Noice
I want to invest roughly $70,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stock?
It's crucial to have a well thought-out strategy and not make impulsive moved based on short-term market fluctuations. Patience and a long-term perspective are keys. you should consider a market expert to guide you
That's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2 years+
One of my goals is to employ the service of one this year. I've seen some off LinkedIn but wasn't able to get a response. Could you recommend who it is you work with?
Marisa Michelle Litwinsky is licensed fiduciary I use, just research the name you will fine necessary details to work with a correspondence to set-up an appointment
This recommendation came at right time, thanks very much I appreciate it, curiously inputted her full name on my browser and find her remarkably, have already set up an appointment hoping for a response
Averages are skewed by high earners. Probably should have used medians
THANK YOU!!! I was coming on here to say the exact same thing, but you beat me to it.
Opposite in this study. high income earners can still only add like 22,500 a year. If he removed them the average would actually go up. high income earner create individual accounts for outside control and better options at investing. Many 401ks are not very good from an option standpoint and only are only good for the matching.
Lots of amazing stories. Not everyone’s road is roses. Divorced ten years ago. Financially buried me. Never too late. Refocused on getting debt free and investing in 401k, mutual funds, invested in a rental property also. Found a good woman and we enjoy life. Call it balling on a budget. We don’t cheat ourselves but watch the money and invest every extra dollar. Now at 58 were well on track to retire comfortably at 65. Focus my friends and u can move mountains. It’s all about having options. Great video.
We are in our late 40s with $900k in 401ks, house almost paid off. We maxed out retirement investments in our 20s and it has quintupled. We have 3 pensions (military and civilian) so we decided to decrease investing to 5%. Air Force paid for our Master degrees. Focused on padding our brokerage account and piling cash to retire in a few years. Thank you to Jesus!
Time to give like no one else according to Dave. I take Paypal or Venmo.
@omnimoeish LOL! :D
I am a little bit ahead which is perfect. I see some huge balances below but please remember… experiencing life is very important. Having a huge savings on your death bed with no meaningful relationships, experiences, and influences is extremely depressing. We will all become dust, a huge retirement account doesn’t change that.
It’s not all about have a big pile of cash on your deathbed. It’s more of enjoying your retirement years and then leaving a legacy behind to loved ones.
@@benb586 I don’t disagree, but in my industry which is in finance and death, I see this. People obsessing over insane amount of resources that they don’t get a chance to enjoy and I watch their kids blow it. Those kids wanted memories, but Dad or Mom were penny pinching or working every little bit. When the kids finally got it they spend it fast. Trust helps govern spending, but it also creates animosity. All I say is have a balance approach. Have a goal set and break down how you can live on it and enjoy retirement with good health and good family life.
My job doesn't offer a 401k, however they do offer a Pension and a 457B (roth and traditional options). So i dabble in all 3. 18% total.
I’m 32 and have 125k in my 401k. Started it when I was 21 years old. Very glad I did. But I only have like $2,000 in my emergency fund so I really need to do better there.
Just turned 29 and I have $75,000 in retirement. My wife has $30,000 so together, we just passed $100,000. Pretty thrilled about that 🎉🎉🎉
Just turned 44, definitely behind but I have been saving since my 20’s, just not enough. Time to ramp it up, thanks for breaking it down like this!
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing! I'd suggest you consider financial advisory at this point in time, remember you are in for the long haul
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
She goes by '‘Nicole Desiree Simon’ I suggest you look her up online. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
I’m 24 and contribute 9% plus my company match. I have $32k in just my 401k
Glad I started my 401k last year at 25. So far I put 8% plus 6% company match. Hope I can retire a millionaire. Will contribute 20% total later on. Just saving for a house atm.
Right on track! I’m 34 and starting investing 10% at age 24 and I already have a good chunk of money in my 401K. Once my kids are out of daycare and my house is paid off I’m throwing even more money at it!
I only have about 36k in my TSP account at age 39. I’ve made huge strides over the last year and a half and have learned a lot. Hoping I can catch up somewhat fast. House will be paid off in next year or two.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
Building a good investment portfolio is more complex so I would recommend you seek Brian Nelson support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams..
I’m 41 and have about 430k in retirement. Loved the video. Good luck to everyone
We are 75, retired at 60. Bought our retirement house, 850sf, 2/2/2 c. 6 yrs ago. Paid $500k cash, which we obtained by selling to our married daughter 50% equity in the house she grew up in. At our permanent demise she and her hubby obtain the remaining equity. Other two kids get our little house. All written up in our will. EZ PZ
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends my best suggestion is to consider advisory management.
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the adviser that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
I've shuffled through a few advisors in the past, but settled with Annette Christine Conte her service is exemplary. I'd suggest you research her further on your browser, sure you'll find her basic info.
very much appreciated, your response suggests a person of benevolence.. just inputted her full name on my browser, and came across her site, top-notch qualifications! she seems well-qualified
I'm 39. However, for my retirement I'm using three different accounts: 401k, Roth IRA, and a Roth 401k with the army reserves. When added together my retirement accounts add up to roughly $110,000. I guess that's not too bad since i reality didn't start investing until I was like 32. Now, if i add my brokerage account then I'm over the $131,000 i should be at.😊
@@jolanahoward he said in your 40s not exactly at 40. I was going off the 30s chart. I have 10 years in my 40s to hit that mark. Actually I think he said 45 I should have $460k (attention to detail my friend). Will I hit that mark. Eh. I dunno with the way the markets act. But I shouldn't be too far off by then.
36 years old, only have $8,500 currently in my 401k at my current job, but I do have about $26,000 in an IRA that was rolled over from 2 previous jobs. I also have about $20,000 in I Bonds which I treat as retirement money. Was left to me by my Grandma in 2005. At the time my Dad put the money in I Bonds, prob not the best thing, but prob wasnt the worst either. Big thing I feel for my is I have no student loan debt.
Pump those numbers up since you don't have a student loan.
Check your bonds rate. They maybe extremely low. Consider cashing them and put into a Roth IRA
@@nickcarozza9785 Bonds are currently getting 4.96% They were getting over 10.5% back in October 2022
I’m 28 years old with $115000 invested, $40,000 in 3-4% student loans, saving 48% of my after-tax income!
Turned 30 this year. $174k in retirement accounts. Wife and I will bring in total of $150k this year. Only debt is mortgage (at 2.75%!!) Think we're on a decent path.
Keep up the good work, dude!
@@christams8863 appreciate it!
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
Yvette Ruta Musto' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I’m 25, have $19700 in my 401k. Unfortunately, I’m on pause due to working on Baby step 2. Best of luck everyone!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@@GeorgestraitStriat However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@GeorgestraitStriat Clementina Abate Russo is her name
Lookup with her name on the webpage.
@@GeorgestraitStriat You are welcome .
Im 25 years old just paid off my mortgage and have 135k in retirement and i make 85k to 95k a year as a factory worker, working about 60 hours a week for 6 years. I plan on retirement around 50 years old
I will probably pass away at work. There won't be any money when I get from 40 to 65. Social security will be gone, 401 won't be enough.
The truth is he is using the "Average" 401k balance when in reality he should be using "median" which is way lower numbers
Average or median doesn’t really matter as those people are basically screwed.
I've been adding to my 401k every year, so basically my paychecks have been getting smaller since I add higher percentage to the 401k than my raise percentage. Right now contributing about 15.5%, plus company match, which seems to be 3.4%. I'm 52, and my 401k balance is $268,655.43. According to Vanguard, my fund is well funded, but I'm not going to stop increasing the amount I put in.
Pause investing now to pay debt off. Not investing in retirement (temporarily) pushed me to be debt-free faster because I hated missing out on the most precious resource; time.
You got this, man. You're going strong! I did the same thing you did, but unfortunately started at age 40(yeah, I know...stupid) . Every raise(+ an additional 1-3% each year) for the last 10 years has gone directly to increasing the 401k Roth contributions to the point that I'm capped now(happened last year). I'm almost where you are balance-wise, but I lost SO much time being irresponsible and should be WAY farther ahead than I am. I'm hoping that, if I keep throwing everything I can at it, the progress will still allow me to retire reasonably comfortable with a paid-for home. Fingers crossed.
@@jasonmoquinI have been at my current job as a full time employee for 11 years, so I actually started my 401k when I was 41.
@dr_pinna543 Not sure I would want to do that since I am contributing well, paying my mortgage, and still saving money. I have 5 close to 6 months in my emergency fund.
It depends what the interest rate on his debt is. It doesn't make sense to stop contributing to retirement for awhile in order to get rid of a low interest debt (low is in 3% and under). @@dr_pinna543
I’m broke dawg, I’m broke. Got your book though, so I’m intellectually wealthy. Keep it up George!
Dude....don't listen to these money guys. Where are all these 50 yo millionaires? What george and other present is a flawed representation of reality. So many people don't spend on BS, don't go to starbucks and still can't put 600$ on the side every month, ALL THE TIME, for 20 years. I checked the data, less than 15% of 50yo people have a 1M net worth..so obviously something is wrong with that these guys show in their videos.
At this point, someone in their 20s making $50k is going to have a pretty difficult time saving 15% in most areas. Cost of living these days is going to have them strapped.
Also, I’m behind in my 40s. But rapidly catching up.
Wow! I am 52 years old and have 250,000 into my 401k.
However I had changed 5 jobs and save and invested in my previous jobs!
All together ,I actually have over 450,000 not including my mortgage 😊
We hit just EDM at 53/49 with our retirement - we started in our mid-30s putting 15% of our gross and if you add our house we are getting close to 2m. Been following Dave's plan since 2005, we have been debt free since 2009. Thanks for sharing!!! Keep up the GREAT work! -Matt in TEXAS
EDM?
There are a *lot* of people who don't have a 401K. Gig workers, self employed, small business etc.
They have other, similar options
Just invest in $voo...
Can confirm. I myself don't have even 5K . . . let alone 401K. ( o.o)
yes but you can open a Roth Ira with 7k annual max contribution. Which is 583$ a month. Stop making excuses.
They can do a solo 401k or Roth IRA if their employer doesn’t have a 401k, so no reason to not invest
Why are you using a 10% rate of return when projecting out that far into the future? What about inflation? You should be using 5-7% to put it in terms of today's dollars. By not doing that you give people a false sense of security.
Way behind. 70 and 401k disappeared on 911. Working full time now and playing catch up.