There are all kinds of people with $6 million. Some are single, some are married, some made a low salary but saved and invested tons, some blew through a huge salary and barely saved, some are used to spending $300K a year, some live on $50K a year. You also have to look at where their money is - $6 million in an IRA is entirely different from $6 million in a brokerage account.
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $3M during the recent dip, highlighting that there's more to the market than we average folks know.
How do I get involved in this? I am excited to take part because I genuinely want to build a stable financial future. Who is the main inspiration behind your accomplishments?
I’ve had a hard time finding a financial advisor who doesn’t want to manage a big chunk of my portfolio, even living in a major metro area. I largely self-manage and prefer a fee-only relationship.
Pretty good overall, but all this crap about household income when more and more people are living on their own and not supporting other adults nor collaborating with them in finances is not keeping up with the times. I've been my own household for 30 years. No loving wife, no loving girlfriend no kids whatever. I did reasonably well for myself in pay, however I was always compared to the household with 1.8 or 2.5 earners whatever the damn formula is. Now I'm in my 60s and living with my father who had a great career very intelligent and has a great retirement income. There are two of us living in this house. That doesn't do squat to change what I deal with for income nor expenses.
With 6 mln I would invest 100% in high quality dividend paying stocks and generate a cautious 4% dividend yield = 240,000 $ gross per year. And then spend that and never be a net seller of your stocks i.e. keep that nest egg. The dividends will - unlike bond coupons - increase over time and thus fight inflation. And the value of your portfolio will also increase roughly with inflation - unlike bonds which destroy purchasing power.
Such a nice video. I follow this advice. I’m fortunate. I feel like I don’t need to take a lot of market risk at this point and just invest for security. I already have enough. I just don’t need to take a great deal of risk at this point.
Thanks, Azul. What bonds would you buy? Does Vanguard have a good option? All your videos are so helpful, thanks for your time. 😀 PS. Your audio is really low -25.6Db (according to TH-cam)
I generally agree with your bond allocation based on years of living expenses. Recently though it seems like bonds and equities have both been moving down?
but you can also absorb market fluctuations with much higher results over time since there's plenty of cushion in the portfolio ya? SS will cover most of our expenses too.
@@spinnetti the keyword is 'fluctuations', while one can't predict the market. But a fixed income FDIC insured investment means less risk .. at 6M, you can easily live with that without ever touching the principal
I have more than that saved and am using 4% rule with a balanced portfolio to generate my retirement income. And it would be easy for me to spend much more than that income (more $ on travel) if I could. To each his own!
Hi Azul, You cover all the right issue with one exception; a happy life involves also a focus on the spiritual. While counter to the consumerist culture we live in (which you so well critic at times), this focus will inevitably positively affect all aspects of life; whether 22 years old or 65! Keep up the good work!
I was told I was over-saving 20 years ago... unlikely to stop now lol... Hardest part of retirement by far will be to do something with purpose. Few years away, and have no idea yet.
The problem is trying to rebalance a portfolio without paying a ton of Capital Gains taxes when you're invested in non-registered accounts with a 100% stock allocation prior to retirement.
Hi Azul. I'm a follower of your channel. You have great content and genuine Person. Question, why do you always advocate for early retirement, which i actually agree with but you seem to be still working as a You Tuber? That entails quite a bit of Weekly Hours with some financial benefit? ( A Job/Working )
Good advice...Have gone through every one of those steps....before retirement I used a spreadsheet to track expenditures (and still do). Developing an HSA fund was good as can be used to buffer out of pocket health funds through the fund growth or past expenditures that did not take advantage of while workong back to start of HSA. Roth conversions within lower tax brackets has also been a focus since retirement.
I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good stock recommendation on great performing stocks or Crypto will be appreciated..
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach?? and How can i reach her, if you don't mind me asking?
*I really appreciate your clear and simple breakdown on financial pitfalls! I lost so much money on stock market but now making around $18k to $21k every week trading different stocks and cryptos*
You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them. People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
There are all kinds of people with $6 million. Some are single, some are married, some made a low salary but saved and invested tons, some blew through a huge salary and barely saved, some are used to spending $300K a year, some live on $50K a year. You also have to look at where their money is - $6 million in an IRA is entirely different from $6 million in a brokerage account.
Die with Zero is a great book and helped us develop an approach to providing funds to our children and grandchildren.
health is always number 1. you aint nothing without your health. if you are retired, you have time to take care of your body.
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $3M during the recent dip, highlighting that there's more to the market than we average folks know.
How do I get involved in this? I am excited to take part because I genuinely want to build a stable financial future. Who is the main inspiration behind your accomplishments?
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
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.
Toss $1.5M in a 20 year tips ladder yielding $100k per year and put the rest in the S&P.
Thank you Azul, love your work, my daughter is in school to become financial advisor. I love finances,/economy fields.
A few national emergencies & forest fires requiring the government to debase the currency & it's now worth $60 thou.
put it all on red and get 12 million!!!!
Good advice.
I’ve had a hard time finding a financial advisor who doesn’t want to manage a big chunk of my portfolio, even living in a major metro area. I largely self-manage and prefer a fee-only relationship.
Bottom feeders.
Pretty good overall, but all this crap about household income when more and more people are living on their own and not supporting other adults nor collaborating with them in finances is not keeping up with the times. I've been my own household for 30 years. No loving wife, no loving girlfriend no kids whatever. I did reasonably well for myself in pay, however I was always compared to the household with 1.8 or 2.5 earners whatever the damn formula is. Now I'm in my 60s and living with my father who had a great career very intelligent and has a great retirement income. There are two of us living in this house. That doesn't do squat to change what I deal with for income nor expenses.
With 6 mln I would invest 100% in high quality dividend paying stocks and generate a cautious 4% dividend yield = 240,000 $ gross per year. And then spend that and never be a net seller of your stocks i.e. keep that nest egg. The dividends will - unlike bond coupons - increase over time and thus fight inflation. And the value of your portfolio will also increase roughly with inflation - unlike bonds which destroy purchasing power.
Like Ford and GM? Xerox? Kodak? Even “high quality” stocks get pulverized from time to time. Treasuries paying 5% might be a better bet. Imo.
Such a nice video. I follow this advice. I’m fortunate. I feel like I don’t need to take a lot of market risk at this point and just invest for security. I already have enough. I just don’t need to take a great deal of risk at this point.
It's so easy to go from a saver to spender mentality 😢😂
Thanks, Azul. What bonds would you buy? Does Vanguard have a good option? All your videos are so helpful, thanks for your time. 😀 PS. Your audio is really low -25.6Db (according to TH-cam)
I generally agree with your bond allocation based on years of living expenses. Recently though it seems like bonds and equities have both been moving down?
Bonds can also lose money. That happened during the 2022 bear market.
High yield saving accounts are safer bets.
you can easily live off the interest from 6M, no need to risk it in the stock market or wait for retirement
but you can also absorb market fluctuations with much higher results over time since there's plenty of cushion in the portfolio ya? SS will cover most of our expenses too.
@@spinnetti the keyword is 'fluctuations', while one can't predict the market. But a fixed income FDIC insured investment means less risk .. at 6M, you can easily live with that without ever touching the principal
I have more than that saved and am using 4% rule with a balanced portfolio to generate my retirement income. And it would be easy for me to spend much more than that income (more $ on travel) if I could. To each his own!
Is the $6M networth or liquid assets alone ?
I assume it is everything but real estate
if you care about financial freedom do yourself a favor and read The Censored Guide to Wealth
My new worth (pre-taxed gains) is more than 1/2 of that. I mostly live off interest from $1M in stocks. No social security yet.
Hi Azul, You cover all the right issue with one exception; a happy life involves also a focus on the spiritual. While counter to the consumerist culture we live in (which you so well critic at times), this focus will inevitably positively affect all aspects of life; whether 22 years old or 65! Keep up the good work!
I have a very happy life and am not in the least bit "spiritual" (whatever that means)
I was told I was over-saving 20 years ago... unlikely to stop now lol... Hardest part of retirement by far will be to do something with purpose. Few years away, and have no idea yet.
Pickle ball is a blast
The problem is trying to rebalance a portfolio without paying a ton of Capital Gains taxes when you're invested in non-registered accounts with a 100% stock allocation prior to retirement.
what's a non-registered account?
@@spinnetti Oh, I guess I'm using Canadian terminology. Anything investment account that isn't tax-sheltered.
Hi Azul. I'm a follower of your channel. You have great content and genuine Person. Question, why do you always advocate for early retirement, which i actually agree with but you seem to be still working as a You Tuber? That entails quite a bit of Weekly Hours with some financial benefit? ( A Job/Working )
Thank you for the great advice in a not so normal circumstance. Keep up the great work!
New to Azul? Like and subscribe, you will be glad you did.
Low volume
Good advice...Have gone through every one of those steps....before retirement I used a spreadsheet to track expenditures (and still do). Developing an HSA fund was good as can be used to buffer out of pocket health funds through the fund growth or past expenditures that did not take advantage of while workong back to start of HSA. Roth conversions within lower tax brackets has also been a focus since retirement.
I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good stock recommendation on great performing stocks or Crypto will be appreciated..
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach?? and How can i reach her, if you don't mind me asking?
look up her name on the web for her website.
*I really appreciate your clear and simple breakdown on financial pitfalls! I lost so much money on stock market but now making around $18k to $21k every week trading different stocks and cryptos*
You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them. People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
* Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude to Mr Boris Wertz*
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still believe in God
Good day all👍🏻 from Switzerland 🇨🇭. What way can I get to him exactly ?