$1m is a target number for each individual that is married and $2m for single, that’s the number I am trying to achieve. Don’t be scared with this number because it’s only a target , will you be scared if you only saved $900,000?
I retired at 52 and honestly, I wish I’d done it sooner. The 9-to-5 grind always steals your freedom for a paycheck that barely scratches the surface. My advice? If you’re in your late 30s or early 40s, start saving for FIRE now (Financial Independence, Retire Early.) And if you’re in your 50s, invest smartly and break free from relying on your job. Market trends, like the Trump Effect, have made millions for many, including me. Stay focused, stay consistent, and remember financial freedom is within reach if you make it a priority.
Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.
We started saving on our 401K in our 20's, putting 20% of our salary. The company only matches 6% & the rest was for savings. We have 2 houses in California which are both paid for. We've been retired over 10 years & we collect 2 Social Security checks, 2 company pensions from we worked for 40 years, IRA, 401K & 1 rental property. We travel globally at least every other year, mostly in Europe but we've been in Asia & South America. We just got back from an Alpine adventure for 17 days 2 months ago. We hardly cook since we are not good cooks so we buy most of the time. There are times when we go on vacations with our children & grandchildren. Life's been good for us. It's all in the planning.
Oh wow ! You definitely did the perfect planning ! That’s the retirement life that we would love to have . I think we’ll do fine with 2 social securities , 1 pension (Haven) and our 401ks. Our goal is really to travel the world while we’re still able to. We go the Manila as often as we can to visit Eileen’s parents then we do side trips in Asia . We save also for our European trips 😊. As much as possible we take our son with us . Kids now want to travel with friends more than with parents lol . So nice to hear that you have a good exciting life and you are 100% correct - it’s all in the planning !
@@HavenEileenDejesus Travel while you're younger. We're in our 70's & although we made it for 17days with constant walking all day, we were exhausted at the end of the day. We'll probably stick to a week vacations instead of a long one or maybe back to cruising.😆Good luck on your planning. I think you'll be fine with 4 income streams.
Hi! Yes it is but we deducted what we are going to receive from social security and pension . And since it will cover our expenses we really don’t need 1 million in SAVINGS to retire 😊
We got our insurance long time ago when we didn’t know anything lol 😂 It’s a custom whole life with death benefit and cash surrender value . We kept it since it’s like some sort of savings also . We can use it if we need to tap on it or we can leave it for our som when we’re gone . Win-win I guess 😊.
@@HavenEileenDejesus I had a locked in price for my life insurance for 20 years! Then my house was paid off and after that 20yrs I didn't renew cause the price was going to go up significantly : )
Oh you have term life ? We have that also and it’s ending 2027. It’s cheaper and we’re not renewing because it so expensive . But with term there is no surrender value . Will check what happens if we cancel our whole life . Thanks for your feedback !
@@HavenEileenDejesus check the value of cash value, the older you become the premium goes higher but they take the money from your cash value. It happened to my parents.
My wife and I plan to leave a sizeable inheritance to our three kids so one million is not enough. One child is also Special Needs so we're planning retirement for three with that third person expected to live an extra 50 years.
Wow, thanks for sharing your story! It’s amazing how much thought you’re putting into planning for your family. Leaving a legacy is important to us too-not just financially, but in memories and values. Everyone’s journey is so unique, and it’s inspiring to hear yours!
Thanks for your comment! It’s true that Social Security faces challenges, with projections showing it may only pay about 77-80% of benefits by 2035 if no changes are made. We don’t think it’s going to be bankrupt though . We still need to be prepared and plan ahead and stay informed about potential changes . The government though has to act as social security is a vital program to millions of Americans . 🙂
Yup! That’s what people say in the US . We’d love to retire in the Philippines but the only thing that holds us back is the easy accessibility to healthcare .
@@HavenEileenDejesus Not advisable for seniors to retire in Pinas. Healthcare sucks, specially if you plan to stay in the province. Doctors lack advance medical knowledge & hospitals are ill equipped. In the big cities, you can go to high end hospitals but you have to pay everything out of your pocket & it's expensive. Major surgery cost over a million pesos & some medications are not available.
Do you think $1 million is realistic for retirement, or is it just a scary number? Let us know your thoughts!
$1m is a target number for each individual that is married and $2m for single, that’s the number I am trying to achieve. Don’t be scared with this number because it’s only a target , will you be scared if you only saved $900,000?
I retired at 52 and honestly, I wish I’d done it sooner. The 9-to-5 grind always steals your freedom for a paycheck that barely scratches the surface. My advice? If you’re in your late 30s or early 40s, start saving for FIRE now (Financial Independence, Retire Early.) And if you’re in your 50s, invest smartly and break free from relying on your job. Market trends, like the Trump Effect, have made millions for many, including me. Stay focused, stay consistent, and remember financial freedom is within reach if you make it a priority.
Exactly My point! The 9 to 5 grind is just not worth it the stress and low payoff. What specific steps did you take to break free?
Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.
Got it! Thanks for the tip! I was curious, so I looked up Lorrie
I have 5 more years and I can’t wait!
Thank you for sharing ! That’s something the young and the soon to be retirees will benefit from . 😊
Thanks you for sharing it's help that Happy New Year all
Happy new year ! 😊
We started saving on our 401K in our 20's, putting 20% of our salary. The company only matches 6% & the rest was for savings. We have 2 houses in California which are both paid for. We've been retired over 10 years & we collect 2 Social Security checks, 2 company pensions from we worked for 40 years, IRA, 401K & 1 rental property. We travel globally at least every other year, mostly in Europe but we've been in Asia & South America. We just got back from an Alpine adventure for 17 days 2 months ago. We hardly cook since we are not good cooks so we buy most of the time. There are times when we go on vacations with our children & grandchildren. Life's been good for us. It's all in the planning.
Oh wow ! You definitely did the perfect planning ! That’s the retirement life that we would love to have . I think we’ll do fine with 2 social securities , 1 pension (Haven) and our 401ks. Our goal is really to travel the world while we’re still able to. We go the Manila as often as we can to visit Eileen’s parents then we do side trips in Asia . We save also for our European trips 😊. As much as possible we take our son with us . Kids now want to travel with friends more than with parents lol .
So nice to hear that you have a good exciting life and you are 100% correct - it’s all in the planning !
@@HavenEileenDejesus Travel while you're younger. We're in our 70's & although we made it for 17days with constant walking all day, we were exhausted at the end of the day. We'll probably stick to a week vacations instead of a long one or maybe back to cruising.😆Good luck on your planning. I think you'll be fine with 4 income streams.
Thanks for the realistic information.
Glad it was helpful!
I fully agree that planning and saving up is key to enjoying retirement. Thanks for the tips guys 😊
It really is!
Love it
the budget you enumerated when multiplied by 25 needed an amount bigger than $1M
Hi! Yes it is but we deducted what we are going to receive from social security and pension . And since it will cover our expenses we really don’t need 1 million in SAVINGS to retire 😊
Thanks for sharing. I assume you guys live in a state where pensions and social security income are not taxed?
We live in CA, which doesn’t tax Social Security but does tax pensions and other retirement income.
We're gonna have to sit down and use your budget as a starter!
Hope this helps !
I think I need more than 1 million : ) I think that when you pay off your house you no longer need life insurance also
We got our insurance long time ago when we didn’t know anything lol 😂 It’s a custom whole life with death benefit and cash surrender value . We kept it since it’s like some sort of savings also . We can use it if we need to tap on it or we can leave it for our som when we’re gone . Win-win I guess 😊.
@@HavenEileenDejesus I had a locked in price for my life insurance for 20 years! Then my house was paid off and after that 20yrs I didn't renew cause the price was going to go up significantly : )
Oh you have term life ? We have that also and it’s ending 2027. It’s cheaper and we’re not renewing because it so expensive . But with term there is no surrender value . Will check what happens if we cancel our whole life . Thanks for your feedback !
@@HavenEileenDejesus check the value of cash value, the older you become the premium goes higher but they take the money from your cash value. It happened to my parents.
My wife and I plan to leave a sizeable inheritance to our three kids so one million is not enough. One child is also Special Needs so we're planning retirement for three with that third person expected to live an extra 50 years.
Wow, thanks for sharing your story! It’s amazing how much thought you’re putting into planning for your family. Leaving a legacy is important to us too-not just financially, but in memories and values. Everyone’s journey is so unique, and it’s inspiring to hear yours!
OMG 67k?
Isn’t Social Security headed for insolvency by 2035?
Thanks for your comment! It’s true that Social Security faces challenges, with projections showing it may only pay about 77-80% of benefits by 2035 if no changes are made. We don’t think it’s going to be bankrupt though . We still need to be prepared and plan ahead and stay informed about potential changes . The government though has to act as social security is a vital program to millions of Americans . 🙂
A Million dollars?...i will retire in the Philippines... that is 250million pesos!
Yup! That’s what people say in the US . We’d love to retire in the Philippines but the only thing that holds us back is the easy accessibility to healthcare .
@@HavenEileenDejesus Not advisable for seniors to retire in Pinas. Healthcare sucks, specially if you plan to stay in the province. Doctors lack advance medical knowledge & hospitals are ill equipped. In the big cities, you can go to high end hospitals but you have to pay everything out of your pocket & it's expensive. Major surgery cost over a million pesos & some medications are not available.
Such bulshit