I’d be retiring or working less in 5 years, and I’m curious to know how best people split their pay: how much goes into savings, spending, or investments. I earn around $200k per year but have nothing to show for it yet.
Money advice is subjective. What works for you may not work for me. I would suggest getting rid of any unnecessary purchases, especially things that cost you monthly, or better still, consider advisory services for better planning.
Agreed. I'm quite lucky to have been exposed to finance at an early age. I started a full-time job at 19, purchased my first home at 28. Moving forward, I got laid off at 36 amid the COVID-outbreak and immediately consulted an advisor. As of today, I'm just about 10% shy of $1M after significant investments.
Personally, I take guidance from a well-spoken advisor, ''Sophia Verdekal O'neal.'' She's quite known in her field of work with over two decades of experience.
Thanks for the lead! Just searched Sophia by her full name on the internet, spotted her consulting page, and was able to schedule a call session- no sweat. She seems very professional.
@@maeudaou7347 There's never been a "good" time to have kids. I'm sure every generation said their moment in time was horrible to have kids. Every society thought it was the end of the world. It will be real bad in 30-40 years when there's not not enough kids born now to pay for entitlements. Very few people will do what this couple did. The rest stay poor and depend on Social Security.
@@matt7684 we pay into social security though. Social security is owed to them regardless of how much they have. Also even if they had children they both had great jobs. They could easily have had children and still saved up a good amount. You also don't know their story. Maybe they do have kids and just didn't want to talk about them. Or maybe they faced fertility problems. We just don't know.
@@dynamiteeinaa879 I have nothing against whether or not they have kids, Their choice. Social security recipients are getting paid by current working people. You only pay in during your working time in order to qualify. Look at the US Debt clock. SS and Medicare have massive unfunded liabilities. Doubt it will be around in 30-40 years or the age will be extended to 75. People that will hurt the most are the ones that think these entitlements will help them. Kids or not, most people will benefit from doing what this couple did.
"How much it costs to work" is the most important thing she said ... and what you need to takeaway from this. Over ten years ago I calculated it was cheaper for me to retire to the Caribbean then to continue to work in the U.S. I haven't had a 9 to 5 job since.
That’s amazing. How did you figure? What about hurricanes? Insects and humidity? I suppose many people have insects and humidity where they live and work, anyway.
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.
@@ShellyHuerta The reason I decided to work closely with a brokerage adviser ever since the market got really tense and the pressure became so much(I should be retiring in 17months) so I've had a brokerage adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
@@elegboozioma7267 How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Don't wait until you are 65 years old to enjoy life because you might not ever make it. Do whatever you can to enjoy life now, whether you have kids or not. I know so many people who died the year after they retired and even one person who died the year before retirement. He had planned for retirement by the book, had his house paid off, his investments were ready, but he was diagnosed with a rare cancer and died at the age of 64.
I think most people would if they could. With that said I agree. I’m in my mid 40’s and wife is in late 30’s. We could call it quits now but, I think I’m going to keep going as we own our own business and could work from anywhere. We already feel semi retired.
@@Aggie4life77 I think the definition of what retirement is for everyone is different. I think most of the people who do FIRE don't actually sit around and do nothing, they start doing things they love at their leisure. It also means they're still doing something sometimes to bring in an income, but they don't necessarily have to if they don't want to.
@@nicolea8205 Unfortunately, I think there are a few different factors here to consider. There is so much consumerism going on in the US and expectations that you have to follow the norm. They say we need to work until we are 65 but we don't need to. They say we need to work for a paycheck but many are able to be creative about how they make an income. No one has to do what everyone else is doing. A lot of people who do FIRE are extremely frugal, save a lot, and are extremely resourceful. If you watch the documentary called "Playing with FIRE," I believe there was a couple, both teachers, who were able to retire early around 30 years of age even though they did not make much money. It took some planning but they were able to do it.
That just happened to my neighbor. She would tell me about everything she wanted to do in about a year or two when she retires from teaching and she just found out she has stage 4 lung cancer. Sad.
1:41 - Make a plan 1:55 - limit your spending to not more than what you earn 2:51 - understand what it will cost you to maintain your lifestyle. Importantly, this appears to be a level-headed frugal couple.
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. don't think I could retire with less than $3m in income generating investments and i'm not talking 401k, maybe $2m at the very minimum. I plan to work until I'm at least 45.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving
@@DreamweaverShade-h9p 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 license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@Tsunaniis-j5l Over the following 3 months, I want to increase my reserve from $280,000 to at least $550,000. I would be grateful for any advice you can give on how to accurately predict the market and how to diversify and balance my portfolio in order to accomplish my goal.
@@MakeamericaGreatagain-h7j Have you heard of "NICOLE DESIREE SIMON? She gets featured regularly on CNBC. Everyone in my office works with her including myself. I personally use tax-deferred accounts to hold my investments. That way I avoid capital gains taxes. There are other options your advisor could brief you about.
@@Tsunaniis-j5l Thank you. I just checked her out now on the web and I've sent an email. I hope she gets back to me soon. I've been thinking of doing this for a long time now, and I've procrastinated enough already.
I retired abroad with 1/3 of what they had at the age of 39. It's easy to do if you don't have kids, or a spouse. It also helps being financially savvy, along with having a low level of comfort, expectations, and desire for extravegances. Minimalism and frugality stretch your dollars further than you could ever imagine possible.
@@orangefield2308 hell no! I have nothing to gain by a wife or kids. I was married for about 11 years (with no kids) and she spent more than we made every month. Once she left, I only had to work and save up for 5 years, until I had the opportunity to retire. A spouse and kids are a liability for men. When she decides to leave, you lose half of the empire you have worked so hard for. If you had kids and she left, you only get to see them on the weekends and have to pay more to your ex-wife each month than is required to raise a child. So tell me.....why would I want to get married and have kids?
@@orangefield2308 to each their own. I hope that if you do get married and have kids, it's worth it for you. Statistically the odds are against men because 55% of marriages end in divorce and 80% of all divorces are initiated by the wife. Personally I'd rather play Russian Roulette with 3 of the 6 chambers loaded because the odds are better.
40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Very accurate from your POV, It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your goals
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..
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.Thanks
I'm 41. I have almost 400k with no debt except the house. The difference is I have 2 kids 10 and 12. I dont think I will be able to stop working until they are 22-24. That is another 12 years. I probably would have been able to retire last year easily. In my situation they cost me 10-15 years. Not saying I would change anything, just something to consider for those who dont have children.
For me, the joy my children bring me is priceless. I would do it all over again if I could and have even more children. I grew up in a poor family of 7 kids living in government housing but despite that, I felt I had a rich childhood.
@@hanhb6047 lots of life experience in your family just due to having so many people around. There’s so many out there that wouldn’t understand what’s it’s like living with just 4 people let alone 9 haha
@@EadsB7002 bull, there's people in the FIRE movement that have done it with more than 2 kids, younger than 41 and with a bit less. It's a matter of what you want in life and how you plan on living that life, it is that simple.
You can travel out of a motorhome and live in rv parks along the way. We are doing that now. I'm sitting in the Florida keys at the moment, have a camping membership and only paying $20 a day at an rv park with full hookups and electricity. We're really not saving money though, paying for excursions for a family of 5 is not super cheap. Having the time of our lives though
I’m a dividend investor My wife and I have invested in the s&p500, both through my TSP with the government, and through Fidelity in her 401-k.Cashed out 270k from the S&P and invested with a Full service broker . Until around 4 years ago we were 100% in the s&p after over 20 years. I'm retiring at the end of this month at 62, while my wife will retire next year at 60. We currently have 2.3 million in out tax deferred savings..
@@walter.dlawson2580 Certainly I do but I can’t just leave her info here, just google her yourself, her full name is Nancy Jane Gluck, she has a website and everything so you can reach her from there..cheers
Retiring in 20 years? Due to inflation, you may need upwards of $2.6 million to maintain your existing lifestyle, with the ongoing effects of high inflation, lower forecasted stock market returns, and stagnant wages, achieving a secure early retirement could be more challenging than ever before.
An obvious way to lnvest for a recession is to buy shares in businesses that are likely to experience steady demand even in a downturn. Typically, those are consumer staples, utilities, and healthcare companies, but off course such decisions cannot be made by an average Joe, a financial advisr is important in making this decisions
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
The adviser I'm in touch with is 'Natalie Lynn Fisk, she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works hence my result. he provides entry and exit point for the securities I focus on.
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.Thanks
After being invested in the market for about 27 years, I can say that starting early is the single biggest determinant of success. Also putting your money into well diversified ETFs is important.
@@eoinMB3949 sure. Diversification should also account for the investor’s time horizon and and risk appetite. At middle age, I put 35% large cap, 15% mid-cap, 15% small cap, 20% international, and 15 % bonds. I use Vanguard’s ETFs. Within each of these buckets, I also have a mix of growth and value ETFs. It’s important to invest regularly; I put money aside every month so I dollar cost average into the market. Over time my returns have been about 11% annually. Using the rule of 72, that means the portfolio value should double every 6-7 years. Hope that helps. Good luck.
@@eoinMB3949 All you need is VTI and VXUS. Make that at least 80% of your portfolio. Put the rest into quality individual stocks that you like and use 1% or less for speculative/gambling plays.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets 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.
@rachealhubert74 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@rachealhubert74 Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
Inflation - 2.5 times as much. That means you'd need ~ $1.25 million to do the same moving forward. The math from 40 years ago is easier. Avg. home income in 1980 = $23k. Avg. home income in 2020 = $69k -- 3x as much (same ratio for any lifestyle). So multiply 1.5 at 10 years, 2 at 20 years, 2.5 at 30 years, 3 at 40 years - so by 2060, you'd need $207k per year living expense - adjust for the lifestyle planned.
$1 in 1998 is $1.98 May 5th 2021 so you'd need ~$1M to do what they did today. Don't forget that their money has more than doubled over the last 30 years while they've been LIVING OFF OF IT! Add in the fact that the last 30 years have been historically low in returns (in comparison to other 30 year studies) and it's even more apparent how doable this is if you put your head down and work for it. Life's short! Make of it what you'd like and quit making excuses!
Everyone in the comments section hating on them. They did what 99% of people can’t do and are living happy lives. It’s not that hard just budget and invest. Stop buying that 5$ coffee 12th shoe pair and 40$ steak. Do Netflix and chill save on dates buy used cars, find bar deals, lower monthly bills, find free ways to travel with credit card rewards ect.
Took me three weeks to convince my wife about this. She finally got it one year in to our marriage. A win for me. Most people are financially illiterate and it makes it a difficult thing to speak up about.
They want to portray frugality and self determination as personality flaws rather than face the fact that spending to impress others and shared self pity is keeping them working poor. Financial independence is better than outspending your pears.
The biggest mistake you can make is not reinvesting your 401k into the next step, which is a form of insurance. Even after taxes of the 401k the compound interest is MASSIVE. People don’t know how to properly and intelligently invest. It seems people only know a lot of stuff but it’s all superficial, lacking in depth knowledge and understanding of finances and how the system operates right now.
You do realize 30 years ago, 500k was a LARGE sum, Riiiiight? They were smart to invest it. It was equivalent to over a 1 million and 21 thousand dollars today in 2021.
@@1flash3571 it seems like currently they would be barely getting by, health insurance for 2 from 55 to 65 could be about 1500 a month alone. Just wondering how they actually pulled that off, no mention of health insurance.
@@rjejames28 It seems you haven't seen the video. They already said what they paid for the Health Insurance. If you don't buy useless stuff, you would be surprised how much you save.
the stocks he held in the early 90s just shot up and lived off there growth, stock splits, and dividends; he probably still a holder and makes at least 2k a month from them.
If they invested 500k 30 years ago they probably have 10,000% percent return if they choose the top brands 20 years ago.... For sure they still have 1m now and that will still generate 80k per year
I am 67, single, with 2.6 million dollars saved, and am just feeling I have enough to retire. I'll collect about $50K a year from social security when I start collecting in 2 1/2 years. I live in California, the cost of living is insanely high. I wouldn't travel to Mexico but could see spending some time in Southeast Asia.
@@oluwatobiotukelu5838 I am a psychologist. Pay is pretty good except that I was a single parent of twins and spent 9 years in court and 6 attorneys dealing with my ex. My actual spendable cash was probably less than most middle wage earners. I just kept putting 10% of my income in my 401K plus a 3% match. 30 years later, I got more than 2 million dollars.
Sounds like a great plan that you followed, despite the divorce and associated challenges. Would you be staying in California after retirement considering the cost of living?
When they were talking about almost having to re-enter the work force in 2008 they mentioned that with that decision they would have to increase their expenses like having to own an car and pay insurance. So this couple may have retired at 38 but they live such a simple lifestyle that they don't even allow themselves the ability to own a car. I'm sure that is indicative of their entire lifestyle if they can live on just 20k a year. I know they say they travel but it's to Mexico and Thailand which are very inexpensive and not very glamorous. Good for them if this works for them but I don't think most of us would be willing to live the simple life required to achieve this. I for one enjoy my creature comforts and was willing to work for them to maintain the lifestyle in NYC. It costs more than $20K a year here, more like $500K a year. It's all about the lifestyle you are willing to live I guess.
A few years ago I married a very wealthy women from NYC and she convinced me I would love it there. I hated ever minutes of NYC and now I am headed back to my rural roots. Yep no more fine dining, weekends to Bermuda but also no more noise. We all have our vision of the perfect place.
@@mtadams2009 The City isn't for everyone. When I want quiet and relaxation I go to The Hamptons. Weathered the pandemic here and stay the summer through Labor Day.
Reading the comments is amazing. It’s no wonder most people will never retire. I did a much less aggressive form of what they did, had kids, and still retired at 52.
Only 13 years later than I did WITHOUT kids. Time is the most valuable asset you have. While I'm happy that you got out before most people do, you are still 13 years too late in my opinion.
@@michaelbrown5768 people want to have kids even if that means pushing up their retirement a few years. I'm pretty sure the majority of them don't regret having children
@@kushal4956 those that have kids and put off retirement have what is called "buyers remorse". They can't change the situation for the better, so they would rather tell you that they are happy with kids to convince themselves that they did "the right thing" in life. In other words, if they can't change the outcome for the better, then be happy with what you've been dealt. It's easier to lie and virtue signal in life than it is to be honest and truthful.
Lol. A lot of us in our 50's are healthier than a lot of 20 year olds I see. A lot of young people, eating the way they do, aren't even going to live to see 50.
I retired at 43 with $300k in savings and a debt-free home & car. Enjoying life. No stress. Then I got married. I’m still working, harder than ever, supporting a family (wife works too). Almost 10 years on, I’m hopeful to retire by my 60s. 🤔
Oh dear. Sorry to hear it. Marriage and kids especially really change your financial landscape! Folks really need to take that into consideration before getting married and starting a family. And most especially if they have a good bit of wealth to begin with.
@@tellweez1951 that helped if I look back. I was cashed up and debt free, with no mortgage/rent issues from the start. What I meant was is that raising a family ain’t cheap and your savings goals are heavily reduced. The couple in the video didn’t have a family, so could retire early with the funds they had available.
@@tellweez1951 have children? Of course! It’s so rewarding raising your own children. Anyway, it was either stay single, not care for anything or raise a family. Yes, became less financially free, but I can see the light and 10 years or so from now, I shall be able to retire after raising a family. Nice.
I just turned 43, and I've decided to Invest in the financial markets, I have over $200k invested, I need tips on how to grow that to $1.5million in two years and retire at 45.
I genuinely think that the best way to make that much in the markets would be to get an Investment manager that you can copy their trades to avoid making any expensive mistakes.
@@carlaannmuldoon2358 Actually I do use an Investment manager, I found her through a Bloomberg publication sometime in august last year and she has guided me grow my Investment from $185k to now $430k.
I made less than 40k/year and I retired abroad just before my 40th birthday. If you can't do it, then you need to look at your budget. I'd be willing to bet that you have a "spending problem".
This is a bit misleading. They started with $500K but that went up to $1 million so they are not living off the initial amount. Plus they have a website that has advertising and I don’t know them “helping others retire early” means they charge for their advice. I’ve watched a couple of these Retire in my 30s TH-cam videos and all that means is that they saved enough money to retire from their current jobs so that they can pursue other means of making income.
They switched to ETF's during the start of the best market run in history. Much of their success is luck. Planning, yes. But since 2008, it's been really good for investors, especially index funds.
Much of their success is not luck. Their portfolio followed the 4 percent rule before they knew what it was and it held up through the dotcom bust and the 2008 market crash just like the study behind the 4 percent rule predicted.
Acorns is not a bad setup. I dollar cost average with it and am up 30% over 1 year. I like to pick stocks too, but I’m doing better more consistently with acorns.
He was a stock broker and restauranteur and retired with only $500K? What am I missing? Retiring early only to be frugal - doesn't seem to compute for me, especially if you enjoy your career choice or work for yourself.
That was a lot of money in 1991. I brought the house I live in for 540k. The person who owned it before me brought in 2000 for approximately 180K. Today it is worth 1.7 million dollars. That means they could have brought three of my homes in 1991 and have about 4 million worth of real estate.
$1 in 1998 is $1.98 May 5th 2021 so you'd need ~$1M to do what they did today. Don't forget that their money has more than doubled over the last 30 years while they've been LIVING OFF OF IT! Add in the fact that the last 30 years have been historically low in returns (in comparison to other 30 year studies) and it's even more apparent how doable this is if you put your head down and work for it. Life's short! Make of it what you'd like and quit making excuses!
I have studied this type of thing for years. It boils down to how little do you want to live. Sure you can go to exotic places. How do you live when you get there. I have children, two homes and stay at only the best hotels when I travel. You see, I grew up very poor. I lived with nothing for twenty years growing up. When I came of age and figured out how to make the most of life I went for it. Here's the secret. Be nimble in your career. When you think about what you do for a living and you don't like it. Move on. Doesn't mean changing professions. My daughter loves kids so she became a teacher. She went to work out of college and within 18 months was questioning her career choice. We sat down and I told her. Imagine the job you always wanted. Close your eyes and see that. Within 6 months she moved to Colorado. Today she loves what she does and is very happy. Having a good life doesn't mean how cheap can I live.
Interesting when they said the cost of working. I've thought about that before while I was working part time minimum wage. They call is a trap for a reason. Once you are in it's difficult to escape and once you're out dont get sucked back in. Hopefully, if things continue as they have been I could retire in less than a year (at 35) after years of hard work, sacrifice and suffering.
Spot on Rando. I experienced minimum wage work for a couple of years. It was horrible. What made it bearable was I was a 5 min walk to work (no travel expenses). That made a huge difference. I saved more money and it allowed me more time to apply for a higher paying job. Good luck. The key is to earn more, so look for other opportunities and use the extra funds to save for your retirement. 👍
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>
I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,
Similar to what they did, I too, have Vanguard and I'm retired, but I also have a pension from my job, I stayed there long to get it. It can be done, but people do not have the discipline to follow through, and like them, I have travelled a lot, but of course I stopped due to the pandemic, but I hope to resume my adventures. Also I still have my home. Ms. L. Churchill
It's whatever works. I didn't hear any specifics on any pensions, other income, did they retire with a paid house (I assume they did) and what they are doing about health insurance. Doing proportionally the same today, I feel is quite risky.
More power to everyone who tries to retire early. The problem is society will grind to a halt if everyone was able to stop working at 30. Everything we rely on in modern society is a result of people working for many decades to produce the products and services we all take for granted. This couple was only able to travel because dedicated engineers did not retire at 30 but instead spent decades developing aircraft. This applies to everything we have in modern life...our homes, our food, cars, computers, phones, roads, etc. People need to contribute skill sets to society for things to work and keep moving along. We can't just have everyone sitting around lounging on the beach and visiting museums.
When they “switched over” from SPY to ETFs, didn’t they have to sell SPY and pay capital gains? I am concerned I will not be able to reposition anything in my taxable accounts.
if you want to maintain your current standard of living, take your current Total Expenses and divide by 5%. That will equal your needed nest egg invested in the market to generate the income for your expenses. If you have less than the needed nest egg, you will have to: 1. Increase contributions to the nest egg. or 2. Substantially reduce your expenses.
This is my plan as well: Retire on $500k and live on Palawan, an Island in the Philippines. I have $330k already and am looking forward to this focus and running a non-profit.
@@juanshaftpatel7488 Don't you need to know more details before making a conclusion? How much my SS is? How old I am? What's the cost of my land? What my expenses are predicted to be? Will I grow my own food? Will I be in community with others sharing land costs?
@@danerose575 I'd recommend you grow your money maybe 50% - 80% aggressively on a short term and hit your goal even faster. Get a pro help. I use an imvesment advisor Monica Sullivan Javorcic; a regulated FA. She's a genius in diversification. You should check her out online.
CPI from 12/1991 to 12/2021 went up 2x. So their initial $500,000 has kept up with inflation since it was worth $1 million in 2021. This is an important lesson. Don't think from this video that you can retire today with only $500k and copy what this lovely couple did. The $500,000 they started with was in 1991 dollars. To copy what they did you would likely need $1.2 million in 2024 and be able to live off of approximately $50,000 in year 1. One more note: the S&P 500 has essentially returned 10% annualized including dividends. Inflation ran around 2.5% for those 30 years. They actually could have started with a withdrawal rate of 7% and increase that dollar amount each year by 2.5% for inflation and still end up with over $1 million after 30 years. To be successful with this strategy, you would need a stomach of steel to ride out the stock market volatility. The 97-98 volatility, the 2000-2003 bear market, the 2008-2009 bear market, the May 2010 Flash Crash, the 2020 Covid Crash and a big drawdown in 2022.
You should do a more relatable series of people at 30 working minimum wage jobs (min. $40k/year) being able to retire by 30s or 40s. That should be a fun series
Its entirely possible. It's all about limiting your spending and optimizing your finances as much as possible. It's very easy to for a couple to live comfortably for $30k a year (in many locations around the world and in the US), and then bank the rest. Investing 10K/yr over 25yrs will turn into $1M. Only 18yrs if you invest $20k/yr, and 10yrs if you can bump it up to $50k a year between a couple. If both make $40k, that's your formula right there.
@@jorasparents it's the fault of the editing. Think they wanted to portray it a certain way so they did. Sure the couple was just answering the questions.
@@jorasparents You have a false sense of reality of "retirement". The 4% rule is when you have a nest egg large enough to withstand you taking 4% out every year and it doesn't effect your nest egg because the stock market goes up an average of 4-6% adjusted for inflation
@@420blazinOG LOL this series of comments is so weird to me. So many people are replying to ME like I've said something entirely other than what I've said ... I know what the 4% rule is. You're replying to the wrong comment. Understandable, given your name. ;-) I didn't even MENTION the 4% rule. I simply said it's hard for people to retire early when they have to consider the high costs of healthcare and if they have kids to raise, etc. And if people are going to talk about how they're making it while being "retired," they should mention the money they're getting from writing books, blogs, etc., because that certainly plays a role. That's ALL I said. Yet there are so many totally off-base comments here -- you guys are replying to the wrong person. lol BLAZE ON
@@jorasparents You're missing my point completly while trying to degrade me, feel better? Those other streams of income didn't help them get to early retirement nor do they need it to continue being retired, hence the 4% rule. So none of this video is misleading because they can and, from my prospective, have lived a majority of their retirement without said streams of income. Speaking of marijuana, you should probably take a hit and chill with all that negativity and hostility that you have going on instead of bringing it online. 🤣
@@420blazinOG No, dear, you're not understanding what my original comment was. I really think you're so high, you just don't see what the difference is. Understandable. Enjoy yourself! lol If you want, you can come back and reread these comments when your mind is clearer. ;-)
No 1 lesson for happy retirement life: Considering the divorce rate of 55% and 80% of divorce is filed by women it is wise for young men to stay not married and not to take risk of divorce.
Here is some good advice from a repeat offender. Marriage is a business deal. If you marry down and things go bad you are going to pay, especially if you have kids. Never marry down, never. I have been divorced twice and been fine. Both or my wife's had good careers.
I think the most important thing they said was for their expenses to be lower than what they bring in, so their portfolio continues to grow as they live on it.
Yes didnt they sell e-books on how to retire early im sure these 2 bums were the same people. I read on the net years ago about two people selling an ebook on how to retire its these same people.
I read about them twenty years ago. They were my inspiration to massively saved and invest. You can google their names and you will find additional information.
Well I am 28 and my husband is 36 and we will be both retired by the end of this year, if someone told me 6 to 7 year ago that I'll be retiring this early I wouldn't have believed. My advice is simply invest in cryptocurrency 💪
I've been Investing in Bitcoin by myself. I'm not really happy with what's going on, just few weeks ago I lost about $4000 in a particular trade so will getting a professional solve the problem???
she mentioned "how much it costs to work", she was right, many people don't realize that the money they earn is to raise their job such as car fee, rental fee, clothes, eating-out fee, etc
I waited till I turned 65 and I had no mortgage or no debt and started drawing Social Security and Medicare my premium is cheaper than what I paid for insurance through work
To retire early and then come back and hustle to write articles, make you tube videos, and write books about how you retired early to have some decent income while you are so called, retired, is a retirement that I don’t want.
So they retired early but they ain’t got no car ? So they gotta live in a big city and take public transportation everywhere or use Uber ? They’re actually quite lucky in that neither of them had a serious illness because I’m guessing they didn’t have any health insurance until they qualified for Medicare.
@@Sydney.Knight Yeah but that doesn’t check because they said they wanted to travel the world. Saying you retired early and living off 20k a year is hardly anything to brag about !
@@savagecub You are correct that they'd need travel health insurance whenever they are traveling. I said nothing about "living" off of $20k. I said you have $20k income. If you have post-tax dollars, you can live off them without showing income. You'll always have interest/dividends/etc, but if you can keep that under $20k (for tax purposes) and then spend down post-tax dollars until you are Medicare age, you're golden.
In the very beginning it says they split their time between the US/Mexico/Thailand and that's probably how they keep their expenses so low. Great if you want to do that.
I retired just over a year ago at 61, i didn't really know for certain i i could make it but the first year has gone soo quickly and my investments have done good, i know that two years are never the same, but i look forward to a drop in the stock market now because i am disciplined enough to resist selling off and just sit back and wait for the investments to go up higher than previous total. Just a question of knowing what youve got and how you manage your investments and more so your expenditures.
Good luck to them, but I’d worry about one major unexpected hospital visit/surgery/illness, which could easily cost several years of their savings plan.
Not abroad it wouldn't. Medical insurance coverage in most other countries is very cheap to have, and out of pocket expenses are about 1/10th of that in the US.
You health goes past 50..cancer..stomach issues..all kinds of stuff can happen..believe me i know..guy next to me at hospital found he had undiagnosed prostate cancer at 57...he was planning on retiring at 60 to spend all his savings with his wife.. just like that taken away from him..has 2 years to live if that. Dont wait till you 65..thats far too late. Plan to retire at 50..everu year that is a bonus. Life is short and tht realisation sucks when something happens you.
That would be challenging, but look at the median savings rate in the US. The majority of 60yr olds would love to trade their life savings for $500k. This is just a commercial for financial literacy.
Most could not do this, but if you live frugal, no kids, etc. you can do it. But they also take a pretty good hit on social security. Not sure how they handled health insurance, maybe just lucky. I would have preferred to see them lay out their current expenses/income in some detail.
FACTS. One (of many) reasons why we chose not to have them. It was really important to us to be able to retire earlier than most and still be able to enjoy life in the process. Not knocking folks who do, hey if it’s for you, that’s great. The stress and financial burden just wasn’t for us.
Having a kids can be a blessing too.. some parents are born to have kids.. some don't deserve them. U have one life and u have to decide what makes u happy. For me kids are not worth it unless I find the right women and be financial stable.
I like the "work life" balance...That's what we do...work, live, travel and work some more....Alot of people retire older and realize that they don't have the energy for it...Which is what happens...Unless you really take care of yourself...
I retired two years ago @40. Amazingly, it took me only 3 years of consistent aggressive investing using a pro advisor to accomplish this. My diversified portfolio just returned over $220,000 in the first quarter. Get a help and hit retirement even faster. That's all it takes considering the nature of investing in this recent times.
I'd love to build a huge stock portfolio, I've set aside $450k to start investing, however, the constant ups and downs in the market keeps throwing me off, please I could really use quality tips and guidance on a safe way to go about this.
@@bartoszvanderlaak9084 I practice a subset of Algorithmic trading. I use trade signals from my investment advisor Monica Sullivan Javorcic and tbh it's been a huge relief for me. Highly diversified portfolio, mind blowing earnings and little to no engagement at all on my part.
@@rocknroll5122 Do you do this manually or you just give her your money? I have a full time job. And what does Monica Javorcic charge for her services?
@@bartoszvanderlaak9084 Nah, I don't give my money to anybody. My account only mirrors her trades in real time that's the ideal for Algo trading. The lady I just recommended is a renowned broker and knows what the heck she's doing. Check her out and get in touch if you'd need help.
If you move to another country, you can easily get by with $1k a month. That means that $500k would last you a little over 40 years! Many more if you invest 80% of it, and cash it out as you need it.
@@michaelbrown5768 yes, you could live in a 3rd world country at $1k/month. Don’t believe everything you read about people retiring on gas fumes and leading amazing lives. And one medical emergency or family emergency, and all bets are off. You need MUCH more than $1K/month at least if you plan to retire, not just survive.
@@swisstrader when your "needs" are few, your "wants" are non-existant, and your level of comfort is low, then yes, you can easily retire on $1k a month. I'm doing it now at the age of 40. People need to learn the definition of "enough" and to forgo instant gratification if they desire retirement.
@@youngster9267 I AM living and enjoying life on that budget. If I was just surviving, I could do that on $500. I get that you don't understand how far your money goes elsewhere because all you know is how much it costs where you live. Perhaps you could venture out one day and actually see what it's like to live elsewhere before you put your 2 cents in on a subject you obviously know nothing about...
They are not classically retired, living solely on savings distributions. They are energetic, people-oriented, above average intelligence, adventurous, self-employed "carpe diem" Ex-pats, authors, travel guides, financial advisors, with a website where they sell various related packages. Unless they make over a certain amount, their income is not subject to taxes in the US because of exclusions and credits. They opted for a no-debt, no-drain life, venturing way outside the cubical. The message is that we each have more choices than we tell ourselves, if we plan, budget, think creatively, and avoid consumer financial traps. For them, it took the shape of living abroad and having various income streams. Good for them. It works.
I am 32 and retired during the pandemic and made 70k in unrealized gains and plan to grow it to a million dollar or more profile CRYPTO is to future look up technology surrounding it and educate yourselves on use cases because weather you like it or not you are using it’s technology
Online investments and trading have really helped many people achieved FINANCIAL FREEDOM, although many also had losses due to lack of knowledge and self trading. I recommend Maria Martinez for anyone who wishes to make huge profits from investing.
I saw a post about Ms Maria here months ago, although i doubted but decided to give it a try. Now my family is enjoying from that decision. Thanks to Ms Maria.
I lost my job due to the Pandemic and life became very difficult for my family, until i saw a post made here about Martinez Maria's trading investment. I doubted because of scam but i reluctantly lnvested with her, and i do not regret lnvesting with her. Thank you for bringing joy to my family once again. Please lnvest with her.
The way his wife smiles at him is so sweet. She's so proud of his managing of their money. Lol so cute
I’d be retiring or working less in 5 years, and I’m curious to know how best people split their pay: how much goes into savings, spending, or investments. I earn around $200k per year but have nothing to show for it yet.
Money advice is subjective. What works for you may not work for me. I would suggest getting rid of any unnecessary purchases, especially things that cost you monthly, or better still, consider advisory services for better planning.
Agreed. I'm quite lucky to have been exposed to finance at an early age. I started a full-time job at 19, purchased my first home at 28. Moving forward, I got laid off at 36 amid the COVID-outbreak and immediately consulted an advisor. As of today, I'm just about 10% shy of $1M after significant investments.
Personally, I take guidance from a well-spoken advisor, ''Sophia Verdekal O'neal.'' She's quite known in her field of work with over two decades of experience.
Thanks for the lead! Just searched Sophia by her full name on the internet, spotted her consulting page, and was able to schedule a call session- no sweat. She seems very professional.
They never mentioned having kids. It is much easier to retire with no kids.
@@maeudaou7347 There's never been a "good" time to have kids. I'm sure every generation said their moment in time was horrible to have kids. Every society thought it was the end of the world. It will be real bad in 30-40 years when there's not not enough kids born now to pay for entitlements. Very few people will do what this couple did. The rest stay poor and depend on Social Security.
Heck if we didn’t have kids we could have retired at the age of 50. I don’t regret having kids and would do it all over again
@@matt7684 we pay into social security though. Social security is owed to them regardless of how much they have. Also even if they had children they both had great jobs. They could easily have had children and still saved up a good amount. You also don't know their story. Maybe they do have kids and just didn't want to talk about them. Or maybe they faced fertility problems. We just don't know.
@@dynamiteeinaa879 I have nothing against whether or not they have kids, Their choice. Social security recipients are getting paid by current working people. You only pay in during your working time in order to qualify. Look at the US Debt clock. SS and Medicare have massive unfunded liabilities. Doubt it will be around in 30-40 years or the age will be extended to 75. People that will hurt the most are the ones that think these entitlements will help them. Kids or not, most people will benefit from doing what this couple did.
Doesn't matter, there are lots of people who do the same WITH kids.
"How much it costs to work" is the most important thing she said ... and what you need to takeaway from this. Over ten years ago I calculated it was cheaper for me to retire to the Caribbean then to continue to work in the U.S. I haven't had a 9 to 5 job since.
That’s amazing. How did you figure? What about hurricanes? Insects and humidity? I suppose many people have insects and humidity where they live and work, anyway.
The biggest cost is your life. Someone buying your life, one hour at a time. I can not be a cog in someone else's plan.
well many city ...fire dept..law enforcement..military retire outside of US..i know of a community entirely made up of them they know its cheaper
@@johnedmunds1380 YES!
@@johnedmunds1380 So true
They unknowigly started the F.I.R.E movement in the 90's before it was a thing.
They got the idea from, your life or your money book
@@extrof Your money or your life. As in a stick-up.
@@genxx2724 yes, it's a must read
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.
@@ShellyHuerta The reason I decided to work closely with a brokerage adviser ever since the market got really tense and the pressure became so much(I should be retiring in 17months) so I've had a brokerage adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
@@elegboozioma7267 How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@@JuneTalley “Victoria Carmen Santaella’’ You can easily look her up, she has years of financial market experience.
@@elegboozioma7267 Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible.
Very inspiring. They probably don’t have any kids too. Which saved them tons of money.
Definitely no kids
@0:27-1:06 Also helps that he's got world-class focus and drive.
We know you people hate kids.
Too bad but sometimes that's just how things work out.
Kids will never break the bank.. Really not as expensive as people make them out to be.
Don't wait until you are 65 years old to enjoy life because you might not ever make it. Do whatever you can to enjoy life now, whether you have kids or not. I know so many people who died the year after they retired and even one person who died the year before retirement. He had planned for retirement by the book, had his house paid off, his investments were ready, but he was diagnosed with a rare cancer and died at the age of 64.
I think most people would if they could. With that said I agree. I’m in my mid 40’s and wife is in late 30’s. We could call it quits now but, I think I’m going to keep going as we own our own business and could work from anywhere. We already feel semi retired.
This is why America needs to change its work culture. It’s not feasible to wait till you’re all old to start living your life.
@@Aggie4life77 I think the definition of what retirement is for everyone is different. I think most of the people who do FIRE don't actually sit around and do nothing, they start doing things they love at their leisure. It also means they're still doing something sometimes to bring in an income, but they don't necessarily have to if they don't want to.
@@nicolea8205 Unfortunately, I think there are a few different factors here to consider. There is so much consumerism going on in the US and expectations that you have to follow the norm. They say we need to work until we are 65 but we don't need to. They say we need to work for a paycheck but many are able to be creative about how they make an income. No one has to do what everyone else is doing. A lot of people who do FIRE are extremely frugal, save a lot, and are extremely resourceful. If you watch the documentary called "Playing with FIRE," I believe there was a couple, both teachers, who were able to retire early around 30 years of age even though they did not make much money. It took some planning but they were able to do it.
That just happened to my neighbor. She would tell me about everything she wanted to do in about a year or two when she retires from teaching and she just found out she has stage 4 lung cancer. Sad.
1:41 - Make a plan
1:55 - limit your spending to not more than what you earn
2:51 - understand what it will cost you to maintain your lifestyle.
Importantly, this appears to be a level-headed frugal couple.
Invent a Time Machine. Go back in time. Buy a home for $30k on a $30k salary. Collect pension, SS and enjoy a 13 yr bull run on the stock market.
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. don't think I could retire with less than $3m in income generating investments and i'm not talking 401k, maybe $2m at the very minimum. I plan to work until I'm at least 45.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving
@@DreamweaverShade-h9p 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 license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@Tsunaniis-j5l Over the following 3 months, I want to increase my reserve from $280,000 to at least $550,000. I would be grateful for any advice you can give on how to accurately predict the market and how to diversify and balance my portfolio in order to accomplish my goal.
@@MakeamericaGreatagain-h7j Have you heard of "NICOLE DESIREE SIMON? She gets featured regularly on CNBC. Everyone in my office works with her including myself. I personally use tax-deferred accounts to hold my investments. That way I avoid capital gains taxes. There are other options your advisor could brief you about.
@@Tsunaniis-j5l Thank you. I just checked her out now on the web and I've sent an email. I hope she gets back to me soon. I've been thinking of doing this for a long time now, and I've procrastinated enough already.
I retired abroad with 1/3 of what they had at the age of 39. It's easy to do if you don't have kids, or a spouse. It also helps being financially savvy, along with having a low level of comfort, expectations, and desire for extravegances. Minimalism and frugality stretch your dollars further than you could ever imagine possible.
do you want wife or kids in the future?
@@orangefield2308 hell no! I have nothing to gain by a wife or kids. I was married for about 11 years (with no kids) and she spent more than we made every month. Once she left, I only had to work and save up for 5 years, until I had the opportunity to retire. A spouse and kids are a liability for men. When she decides to leave, you lose half of the empire you have worked so hard for. If you had kids and she left, you only get to see them on the weekends and have to pay more to your ex-wife each month than is required to raise a child. So tell me.....why would I want to get married and have kids?
@@michaelbrown5768 interesting, single myself, around 38, no wife and kids, I always think about it though
@@orangefield2308 to each their own. I hope that if you do get married and have kids, it's worth it for you. Statistically the odds are against men because 55% of marriages end in divorce and 80% of all divorces are initiated by the wife. Personally I'd rather play Russian Roulette with 3 of the 6 chambers loaded because the odds are better.
@@michaelbrown5768 Spot on, my friend! Same situation. Been single for 4 years now, and I have more money than ever.
40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Very accurate from your POV, It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your goals
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
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..
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.Thanks
Most importantly, the guy is a chef and whatever he did for the finance industry. If he ran out of money he could just get a job...
I'm 41. I have almost 400k with no debt except the house. The difference is I have 2 kids 10 and 12. I dont think I will be able to stop working until they are 22-24. That is another 12 years. I probably would have been able to retire last year easily. In my situation they cost me 10-15 years. Not saying I would change anything, just something to consider for those who dont have children.
Dividend stocks. Etfs and Index funds. Get your dividends to pay your expenses. $150k all it takes for most people’s end goals.
For me, the joy my children bring me is priceless. I would do it all over again if I could and have even more children. I grew up in a poor family of 7 kids living in government housing but despite that, I felt I had a rich childhood.
@@hanhb6047 lots of life experience in your family just due to having so many people around. There’s so many out there that wouldn’t understand what’s it’s like living with just 4 people let alone 9 haha
This is exactly why more people (who have ambitions of retiring early) need to really consider whether or not having kids is right for them.
@@EadsB7002 bull, there's people in the FIRE movement that have done it with more than 2 kids, younger than 41 and with a bit less. It's a matter of what you want in life and how you plan on living that life, it is that simple.
You can travel out of a motorhome and live in rv parks along the way. We are doing that now. I'm sitting in the Florida keys at the moment, have a camping membership and only paying $20 a day at an rv park with full hookups and electricity. We're really not saving money though, paying for excursions for a family of 5 is not super cheap. Having the time of our lives though
I anchored my boat just a few hundred yards offshore of that same rv park you mention…………for free.
Check out aldis for groceries and thrifting is always cool :)
The problem with RV’s is they are expensive to maintain. There is always something that goes wrong with them
@@Brehon_TalkingFinance sometimes, mine has been good for three years. Air conditioner or water heater could break in a house too
Which park? We are headed to The Keys soon. Sounds like a steal!
I’m a dividend investor My wife and I have invested in the s&p500, both through my TSP with the government, and through Fidelity in her 401-k.Cashed out 270k from the S&P and invested with a Full service broker . Until around 4 years ago we were 100% in the s&p after over 20 years. I'm retiring at the end of this month at 62, while my wife will retire next year at 60. We currently have 2.3 million in out tax deferred savings..
Wow this is really impressive...congrats on your success
you made that much from s&p500!! do you by any chance do referrals on your broker?
@@walter.dlawson2580 Certainly I do but I can’t just leave her info here, just google her yourself, her full name is Nancy Jane Gluck, she has a website and everything so you can reach her from there..cheers
Retiring in 20 years? Due to inflation, you may need upwards of $2.6 million to maintain your existing lifestyle, with the ongoing effects of high inflation, lower forecasted stock market returns, and stagnant wages, achieving a secure early retirement could be more challenging than ever before.
An obvious way to lnvest for a recession is to buy shares in businesses that are likely to experience steady demand even in a downturn. Typically, those are consumer staples, utilities, and healthcare companies, but off course such decisions cannot be made by an average Joe, a financial advisr is important in making this decisions
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
Mind if I ask you recommend this particular c0ach you use their serviice? I have trouble knowing when to buy or sell.
The adviser I'm in touch with is 'Natalie Lynn Fisk, she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works hence my result. he provides entry and exit point for the securities I focus on.
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.Thanks
I have been searching for a good broker to trade with!
Please sir how can I find one??
You guys know Mrs Elizabeth too.
I have been trading with her I invested $3000 last two weeks and I received $10,560 and I placed another trade ASAP.
+ 4 4 7 8 6 2 1 5 5 2 3 7 🇬🇧
(W""h""a""t""s""A""p""p)
I have been scammed several occasions and it really hurts
@@jamesmary7720 That is why you need an expert like Mrs Elizabeth to handle your account so that you'll stop blowing off your money
@@johnpatricia4627 How much exactly does she make of you in every trade don't mind me asking
debt free and financially free are 2 different things.
$500k was a heck of a lot in 1991!!!
$1.1 million in 2024 dollars.
$2.8 million at 6% CAGR & 30 year timeframe.
In 1990, $500k could buy 2 brand new condos (2 beds) in San Francisco Sunset district. What would be the price now?
After being invested in the market for about 27 years, I can say that starting early is the single biggest determinant of success. Also putting your money into well diversified ETFs is important.
Im only discovering this stuff now. Could you give a complete beginner some advice? Like what ETFs to invest in. Thanks
@@eoinMB3949 sure. Diversification should also account for the investor’s time horizon and and risk appetite. At middle age, I put 35% large cap, 15% mid-cap, 15% small cap, 20% international, and 15 % bonds. I use Vanguard’s ETFs. Within each of these buckets, I also have a mix of growth and value ETFs.
It’s important to invest regularly; I put money aside every month so I dollar cost average into the market. Over time my returns have been about 11% annually. Using the rule of 72, that means the portfolio value should double every 6-7 years.
Hope that helps. Good luck.
@@eoinMB3949 All you need is VTI and VXUS. Make that at least 80% of your portfolio. Put the rest into quality individual stocks that you like and use 1% or less for speculative/gambling plays.
How could any body put money into a rigged system
@@CORRIGEEN71 You just found out about the stock market 4 months ago
There is no surprise here as $500k was a ton of money 30 years ago. Piece of cake.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets 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.
@rachealhubert74 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@rachealhubert74 Alice Marie Coraggio
Lookup with her name on the webpage
@rachealhubert74 Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
$500k 30 years ago is like retiring with $3-4M today
Depends on what you view inflation to be, but if you go with CPI its more like 1.1-1.2 million in 2021 dollars
Inflation - 2.5 times as much. That means you'd need ~ $1.25 million to do the same moving forward. The math from 40 years ago is easier. Avg. home income in 1980 = $23k. Avg. home income in 2020 = $69k -- 3x as much (same ratio for any lifestyle). So multiply 1.5 at 10 years, 2 at 20 years, 2.5 at 30 years, 3 at 40 years - so by 2060, you'd need $207k per year living expense - adjust for the lifestyle planned.
$1 in 1998 is $1.98 May 5th 2021 so you'd need ~$1M to do what they did today. Don't forget that their money has more than doubled over the last 30 years while they've been LIVING OFF OF IT! Add in the fact that the last 30 years have been historically low in returns (in comparison to other 30 year studies) and it's even more apparent how doable this is if you put your head down and work for it. Life's short! Make of it what you'd like and quit making excuses!
Thank you. This video is a joke.
No it’s actually a little less than $1 million dollars in 2021. Adjusted for inflation
Everyone in the comments section hating on them. They did what 99% of people can’t do and are living happy lives. It’s not that hard just budget and invest. Stop buying that 5$ coffee 12th shoe pair and 40$ steak. Do Netflix and chill save on dates buy used cars, find bar deals, lower monthly bills, find free ways to travel with credit card rewards ect.
Took me three weeks to convince my wife about this. She finally got it one year in to our marriage. A win for me. Most people are financially illiterate and it makes it a difficult thing to speak up about.
D/M M/Y e/x/p/e/r/t b/r/o/k/e/r
F/o/r f/u/r/t/h/e/r a/s/s/i/s/t
o/n h/o/w t/o i/n/v/e/s/t
W/H/A/T/S/A/P/P
+/1/9/2/0/2/2/1/7/2/8/4
I/N/V/E/S/T IN B/T/C AND /E/T/H/...
They want to portray frugality and self determination as personality flaws rather than face the fact that spending to impress others and shared self pity is keeping them working poor. Financial independence is better than outspending your pears.
@@officialspaceefrain nice job ur a lucky guy
No sayers and haters will never see the positive outcome!
I love their story!
The biggest mistake you can make is not reinvesting your 401k into the next step, which is a form of insurance.
Even after taxes of the 401k the compound interest is MASSIVE.
People don’t know how to properly and intelligently invest. It seems people only know a lot of stuff but it’s all superficial, lacking in depth knowledge and understanding of finances and how the system operates right now.
I would like to know how they managed health care insurance cost until they hit age 65? That's a massive gamble if they went uninsured.
You do realize 30 years ago, 500k was a LARGE sum, Riiiiight? They were smart to invest it. It was equivalent to over a 1 million and 21 thousand dollars today in 2021.
@@1flash3571 it seems like currently they would be barely getting by, health insurance for 2 from 55 to 65 could be about 1500 a month alone. Just wondering how they actually pulled that off, no mention of health insurance.
@@rjejames28 It seems you haven't seen the video. They already said what they paid for the Health Insurance. If you don't buy useless stuff, you would be surprised how much you save.
@BigRec Red that's to he worst take I've heard, if you have any health issue or need a surgery for anything you could lose everything.
I’m sure ditching the rat race improved their health almost immediately.
the stocks he held in the early 90s just shot up and lived off there growth, stock splits, and dividends; he probably still a holder and makes at least 2k a month from them.
They have to be making far more than that per month, or at least have the ability to do so.
If they invested 500k 30 years ago they probably have 10,000% percent return if they choose the top brands 20 years ago....
For sure they still have 1m now and that will still generate 80k per year
I am 67, single, with 2.6 million dollars saved, and am just feeling I have enough to retire. I'll collect about $50K a year from social security when I start collecting in 2 1/2 years. I live in California, the cost of living is insanely high. I wouldn't travel to Mexico but could see spending some time in Southeast Asia.
That inspiring ! What do you do?
@@oluwatobiotukelu5838 I am a psychologist. Pay is pretty good except that I was a single parent of twins and spent 9 years in court and 6 attorneys dealing with my ex. My actual spendable cash was probably less than most middle wage earners. I just kept putting 10% of my income in my 401K plus a 3% match. 30 years later, I got more than 2 million dollars.
Sounds like a great plan that you followed, despite the divorce and associated challenges.
Would you be staying in California after retirement considering the cost of living?
That seems plenty enough even in CA as long as you own your own home.
Saving all that money just to give it away retire already you deserve it sir
When they were talking about almost having to re-enter the work force in 2008 they mentioned that with that decision they would have to increase their expenses like having to own an car and pay insurance. So this couple may have retired at 38 but they live such a simple lifestyle that they don't even allow themselves the ability to own a car. I'm sure that is indicative of their entire lifestyle if they can live on just 20k a year. I know they say they travel but it's to Mexico and Thailand which are very inexpensive and not very glamorous. Good for them if this works for them but I don't think most of us would be willing to live the simple life required to achieve this. I for one enjoy my creature comforts and was willing to work for them to maintain the lifestyle in NYC. It costs more than $20K a year here, more like $500K a year. It's all about the lifestyle you are willing to live I guess.
A few years ago I married a very wealthy women from NYC and she convinced me I would love it there. I hated ever minutes of NYC and now I am headed back to my rural roots. Yep no more fine dining, weekends to Bermuda but also no more noise. We all have our vision of the perfect place.
@@mtadams2009 The City isn't for everyone. When I want quiet and relaxation I go to The Hamptons. Weathered the pandemic here and stay the summer through Labor Day.
I am so hopeful to retire or hit Financial Freedom on 8 years
So I understand that they’re not just living on their $500,000 but they’re replacing it with dividends
Reading the comments is amazing. It’s no wonder most people will never retire. I did a much less aggressive form of what they did, had kids, and still retired at 52.
Only 13 years later than I did WITHOUT kids. Time is the most valuable asset you have. While I'm happy that you got out before most people do, you are still 13 years too late in my opinion.
@@michaelbrown5768 people want to have kids even if that means pushing up their retirement a few years. I'm pretty sure the majority of them don't regret having children
@@kushal4956 those that have kids and put off retirement have what is called "buyers remorse". They can't change the situation for the better, so they would rather tell you that they are happy with kids to convince themselves that they did "the right thing" in life. In other words, if they can't change the outcome for the better, then be happy with what you've been dealt. It's easier to lie and virtue signal in life than it is to be honest and truthful.
retiring at 52 is quite late though. I mean by then you are old and can't enjoy life much anyway.
Lol. A lot of us in our 50's are healthier than a lot of 20 year olds I see. A lot of young people, eating the way they do, aren't even going to live to see 50.
500K is a lot of money in 1991. The minimum wage is only $4.25 per hour in 1991
I retired at 43 with $300k in savings and a debt-free home & car. Enjoying life. No stress. Then I got married. I’m still working, harder than ever, supporting a family (wife works too). Almost 10 years on, I’m hopeful to retire by my 60s. 🤔
Sooo what you’re saying is don’t start a family at 43? 🤔
Oh dear. Sorry to hear it. Marriage and kids especially really change your financial landscape! Folks really need to take that into consideration before getting married and starting a family. And most especially if they have a good bit of wealth to begin with.
@@tellweez1951 that helped if I look back. I was cashed up and debt free, with no mortgage/rent issues from the start. What I meant was is that raising a family ain’t cheap and your savings goals are heavily reduced. The couple in the video didn’t have a family, so could retire early with the funds they had available.
@@josephj6521 makes sense, would you do it all over again?
@@tellweez1951 have children? Of course! It’s so rewarding raising your own children. Anyway, it was either stay single, not care for anything or raise a family. Yes, became less financially free, but I can see the light and 10 years or so from now, I shall be able to retire after raising a family. Nice.
I just turned 43, and I've decided to Invest in the financial markets, I have over $200k invested, I need tips on how to grow that to $1.5million in two years and retire at 45.
making such gains from the markets are actually possible , you just need to be dedicated and do a lot of research.
I genuinely think that the best way to make that much in the markets would be to get an Investment manager that you can copy their trades to avoid making any expensive mistakes.
@@bless9313 That actually makes sense. A simple step to avoid huge mistakes.
@@bless9313 Nice! is it worth it? have you used an Investment manager before?
@@carlaannmuldoon2358 Actually I do use an Investment manager, I found her through a Bloomberg publication sometime in august last year and she has guided me grow my Investment from $185k to now $430k.
Not everyone has extreme high paying job to retire at 30s.
If you can afford to put $2,000 to $10,000 into investing a year you are not trying.
I made less than 40k/year and I retired abroad just before my 40th birthday. If you can't do it, then you need to look at your budget. I'd be willing to bet that you have a "spending problem".
@@michaelbrown5768 exactly
@@michaelbrown5768 cigs and to much booze will prevent an early retirement almost every time.
I think you meant to say is that most people find some excuse to say why they can't retire early.
This is a bit misleading. They started with $500K but that went up to $1 million so they are not living off the initial amount. Plus they have a website that has advertising and I don’t know them “helping others retire early” means they charge for their advice. I’ve watched a couple of these Retire in my 30s TH-cam videos and all that means is that they saved enough money to retire from their current jobs so that they can pursue other means of making income.
They switched to ETF's during the start of the best market run in history. Much of their success is luck. Planning, yes. But since 2008, it's been really good for investors, especially index funds.
Much of their success is not luck. Their portfolio followed the 4 percent rule before they knew what it was and it held up through the dotcom bust and the 2008 market crash just like the study behind the 4 percent rule predicted.
you create your own luck. Much of their success is being smart enough to have a plan, and then stick to it.
True
Someone gives you some wisdom for free and you discount it cos ‘it must be luck’. You gotta check your mindset
You obviously haven't been in the stock market in the last 3 months. It's been a bloodbath lately. Hoping we hit the bottom soon...
Acorns is not a bad setup. I dollar cost average with it and am up 30% over 1 year. I like to pick stocks too, but I’m doing better more consistently with acorns.
He was a stock broker and restauranteur and retired with only $500K? What am I missing? Retiring early only to be frugal - doesn't seem to compute for me, especially if you enjoy your career choice or work for yourself.
prob they had a higher cost of living then and TAXES...dont forget about taxes
That was a lot of money in 1991. I brought the house I live in for 540k. The person who owned it before me brought in 2000 for approximately 180K. Today it is worth 1.7 million dollars. That means they could have brought three of my homes in 1991 and have about 4 million worth of real estate.
Good 4 u we just retired at 62 with 350k the key is no debt at all
$1 in 1998 is $1.98 May 5th 2021 so you'd need ~$1M to do what they did today. Don't forget that their money has more than doubled over the last 30 years while they've been LIVING OFF OF IT! Add in the fact that the last 30 years have been historically low in returns (in comparison to other 30 year studies) and it's even more apparent how doable this is if you put your head down and work for it. Life's short! Make of it what you'd like and quit making excuses!
You can do with less than 1m
You just said their money doubled and the value of a dollar halved meaning the value of their assets are the same lmao
I have studied this type of thing for years. It boils down to how little do you want to live. Sure you can go to exotic places. How do you live when you get there. I have children, two homes and stay at only the best hotels when I travel. You see, I grew up very poor. I lived with nothing for twenty years growing up. When I came of age and figured out how to make the most of life I went for it. Here's the secret. Be nimble in your career. When you think about what you do for a living and you don't like it. Move on. Doesn't mean changing professions. My daughter loves kids so she became a teacher. She went to work out of college and within 18 months was questioning her career choice. We sat down and I told her. Imagine the job you always wanted. Close your eyes and see that. Within 6 months she moved to Colorado. Today she loves what she does and is very happy. Having a good life doesn't mean how cheap can I live.
Interesting when they said the cost of working. I've thought about that before while I was working part time minimum wage. They call is a trap for a reason. Once you are in it's difficult to escape and once you're out dont get sucked back in.
Hopefully, if things continue as they have been I could retire in less than a year (at 35) after years of hard work, sacrifice and suffering.
You can do it mate 📈🎊🎉
Spot on Rando. I experienced minimum wage work for a couple of years. It was horrible. What made it bearable was I was a 5 min walk to work (no travel expenses). That made a huge difference. I saved more money and it allowed me more time to apply for a higher paying job. Good luck. The key is to earn more, so look for other opportunities and use the extra funds to save for your retirement. 👍
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>
I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,
how do I get in touch with this consultant that assist??>>>>
Thanks for these recommendations.....,,,
Did they have any kids or grandkids?
@J D lol.lol.
No
Similar to what they did, I too, have Vanguard and I'm retired, but I also have a pension from my job, I stayed there long to get it. It can be done, but people do not have the discipline to follow through, and like them, I have travelled a lot, but of course I stopped due to the pandemic, but I hope to resume my adventures. Also I still have my home.
Ms. L. Churchill
It's whatever works. I didn't hear any specifics on any pensions, other income, did they retire with a paid house (I assume they did) and what they are doing about health insurance. Doing proportionally the same today, I feel is quite risky.
Exactly
More power to everyone who tries to retire early. The problem is society will grind to a halt if everyone was able to stop working at 30. Everything we rely on in modern society is a result of people working for many decades to produce the products and services we all take for granted.
This couple was only able to travel because dedicated engineers did not retire at 30 but instead spent decades developing aircraft. This applies to everything we have in modern life...our homes, our food, cars, computers, phones, roads, etc.
People need to contribute skill sets to society for things to work and keep moving along. We can't just have everyone sitting around lounging on the beach and visiting museums.
❤❤😊…..very good point
When they “switched over” from SPY to ETFs, didn’t they have to sell SPY and pay capital gains? I am concerned I will not be able to reposition anything in my taxable accounts.
Assuming they had no other income the first 40-52k a year of capital gains is 0% then goes up to 15%
if you want to maintain your current standard of living, take your current Total Expenses and divide by 5%. That will equal your needed nest egg invested in the market to generate the income for your expenses.
If you have less than the needed nest egg, you will have to:
1. Increase contributions to the nest egg.
or
2. Substantially reduce your expenses.
Got $325,000 currently in market in growth stocks at age 32 if all goes well I hope to be retired by 40 and be able to raise a family on dividends.
Good luck 👍🏻
Keep going.
Sounds like you're shooting for that double comma club before you hit the exit button.
He could see far into the future thru those foggy glasses…freaking amazing
This is my plan as well: Retire on $500k and live on Palawan, an Island in the Philippines. I have $330k already and am looking forward to this focus and running a non-profit.
that wont be enough in 2021... inflation is 12% in the phillipines
@@juanshaftpatel7488 Don't you need to know more details before making a conclusion? How much my SS is? How old I am? What's the cost of my land? What my expenses are predicted to be? Will I grow my own food? Will I be in community with others sharing land costs?
@@danerose575 I'd recommend you grow your money maybe 50% - 80% aggressively on a short term and hit your goal even faster. Get a pro help. I use an imvesment advisor Monica Sullivan Javorcic; a regulated FA. She's a genius in diversification. You should check her out online.
Best wishes Dane!!!
Im from the Philippines. Thats 25 million in the Philippines. And that's really big money for us. And yes you can retire comfortably with that money 😃
CPI from 12/1991 to 12/2021 went up 2x. So their initial $500,000 has kept up with inflation since it was worth $1 million in 2021.
This is an important lesson. Don't think from this video that you can retire today with only $500k and copy what this lovely couple did. The $500,000 they started with was in 1991 dollars.
To copy what they did you would likely need $1.2 million in 2024 and be able to live off of approximately $50,000 in year 1.
One more note: the S&P 500 has essentially returned 10% annualized including dividends. Inflation ran around 2.5% for those 30 years. They actually could have started with a withdrawal rate of 7% and increase that dollar amount each year by 2.5% for inflation and still end up with over $1 million after 30 years.
To be successful with this strategy, you would need a stomach of steel to ride out the stock market volatility. The 97-98 volatility, the 2000-2003 bear market, the 2008-2009 bear market, the May 2010 Flash Crash, the 2020 Covid Crash and a big drawdown in 2022.
Gosh, the more I see these stories, I keep asking why am I still working! Gotta leave the workforce now.
*_This is some serious wholesome content_*
You should do a more relatable series of people at 30 working minimum wage jobs (min. $40k/year) being able to retire by 30s or 40s. That should be a fun series
There’s videos like that already on TH-cam. Search “F.I.R.E. Movement.”
Its entirely possible. It's all about limiting your spending and optimizing your finances as much as possible. It's very easy to for a couple to live comfortably for $30k a year (in many locations around the world and in the US), and then bank the rest. Investing 10K/yr over 25yrs will turn into $1M. Only 18yrs if you invest $20k/yr, and 10yrs if you can bump it up to $50k a year between a couple. If both make $40k, that's your formula right there.
Her laughter is so so so so good ❤❤❤
Also doesn't hurt that they have a travel blog and write books.
@@jorasparents it's the fault of the editing. Think they wanted to portray it a certain way so they did. Sure the couple was just answering the questions.
@@jorasparents You have a false sense of reality of "retirement". The 4% rule is when you have a nest egg large enough to withstand you taking 4% out every year and it doesn't effect your nest egg because the stock market goes up an average of 4-6% adjusted for inflation
@@420blazinOG LOL this series of comments is so weird to me. So many people are replying to ME like I've said something entirely other than what I've said ... I know what the 4% rule is. You're replying to the wrong comment. Understandable, given your name. ;-) I didn't even MENTION the 4% rule. I simply said it's hard for people to retire early when they have to consider the high costs of healthcare and if they have kids to raise, etc. And if people are going to talk about how they're making it while being "retired," they should mention the money they're getting from writing books, blogs, etc., because that certainly plays a role. That's ALL I said. Yet there are so many totally off-base comments here -- you guys are replying to the wrong person. lol BLAZE ON
@@jorasparents You're missing my point completly while trying to degrade me, feel better? Those other streams of income didn't help them get to early retirement nor do they need it to continue being retired, hence the 4% rule. So none of this video is misleading because they can and, from my prospective, have lived a majority of their retirement without said streams of income. Speaking of marijuana, you should probably take a hit and chill with all that negativity and hostility that you have going on instead of bringing it online. 🤣
@@420blazinOG No, dear, you're not understanding what my original comment was. I really think you're so high, you just don't see what the difference is. Understandable. Enjoy yourself! lol If you want, you can come back and reread these comments when your mind is clearer. ;-)
Start investing per pay check don’t leave your money in the bank high fees!
No 1 lesson for happy retirement life: Considering the divorce rate of 55% and 80% of divorce is filed by women it is wise for young men to stay not married and not to take risk of divorce.
Is the 80% real number ???? That’s really scary to be honest
It's filled by women, meaning it does not benefit women. It benefits men.
@@Liitebulb the marriage, right? I think men ultimately benefit more from marriage.
Here is some good advice from a repeat offender. Marriage is a business deal. If you marry down and things go bad you are going to pay, especially if you have kids. Never marry down, never. I have been divorced twice and been fine. Both or my wife's had good careers.
500k in 1990 is 1m now
Which is definitely sufficient for 2 person
If they invest it they will have 100k every year without the 1m getting touch
So inspiring!
I think the most important thing they said was for their expenses to be lower than what they bring in, so their portfolio continues to grow as they live on it.
$1 million in today's money. Barely outgrowing inflation at all. They didn't really retire as they make money through/work on their website.
D/M M/Y e/x/p/e/r/t b/r/o/k/e/r
F/o/r f/u/r/t/h/e/r a/s/s/i/s/t
o/n h/o/w t/o i/n/v/e/s/t
W/H/A/T/S/A/P/P
+/1/9/2/0/2/2/1/7/2/8/4
I/N/V/E/S/T IN B/T/C AND /E/T/H/....
Yes didnt they sell e-books on how to retire early im sure these 2 bums were the same people. I read on the net years ago about two people selling an ebook on how to retire its these same people.
Loved this video. Just wish it was longer
I read about them twenty years ago. They were my inspiration to massively saved and invest. You can google their names and you will find additional information.
Well I am 28 and my husband is 36 and we will be both retired by the end of this year, if someone told me 6 to 7 year ago that I'll be retiring this early I wouldn't have believed. My advice is simply invest in cryptocurrency 💪
I am really inspired
I am a bit skeptical about investing in crypto, but that's only because I still don't understand it fully
one mistake you should avoid is rushing into investing in cryptocurrency without professional guidance.
if you've got any, please shear
I've been Investing in Bitcoin by myself. I'm not really happy with what's going on, just few weeks ago I lost about $4000 in a particular trade so will getting a professional solve the problem???
I retire with nothing and live like a 👑 money keeps filling my pockets and can explain why maybe just me I'm 76
Great, until you get sick.
she mentioned "how much it costs to work", she was right, many people don't realize that the money they earn is to raise their job such as car fee, rental fee, clothes, eating-out fee, etc
I don't know how to retire until you can get access to healthcare insurance.
Everyone has access to healthcare.
I waited till I turned 65 and I had no mortgage or no debt and started drawing Social Security and Medicare my premium is cheaper than what I paid for insurance through work
Medical insurance is a big problem for most people especially when they have a prior condition.
@@highlanderozzie obviously your not in America!! Or are you one of those head in the sand/ delusional Anericans?
@@lavy1513 Everyone in America has access to healthcare. Yes, you do.
I'm happy for you. Keep enjoying yourself.
To retire early and then come back and hustle to write articles, make you tube videos, and write books about how you retired early to have some decent income while you are so called, retired, is a retirement that I don’t want.
Yes exactly!
This should have been published on CNBC Make It.
So they retired early but they ain’t got no car ? So they gotta live in a big city and take public transportation everywhere or use Uber ? They’re actually quite lucky in that neither of them had a serious illness because I’m guessing they didn’t have any health insurance until they qualified for Medicare.
If they live in states that have expanded Medicaid, and they keep their income at the $20k they mentioned, health insurance is 100% free.
@@Sydney.Knight
Yeah but that doesn’t check because they said they wanted to travel the world. Saying you retired early and living off 20k a year is hardly anything to brag about !
@@savagecub You are correct that they'd need travel health insurance whenever they are traveling. I said nothing about "living" off of $20k. I said you have $20k income. If you have post-tax dollars, you can live off them without showing income. You'll always have interest/dividends/etc, but if you can keep that under $20k (for tax purposes) and then spend down post-tax dollars until you are Medicare age, you're golden.
In the very beginning it says they split their time between the US/Mexico/Thailand and that's probably how they keep their expenses so low. Great if you want to do that.
And you're right, they probably didn't have health insurance and probably got pretty lucky in that they stayed generally healthy.
I retired just over a year ago at 61, i didn't really know for certain i i could make it but the first year has gone soo quickly and my investments have done good, i know that two years are never the same, but i look forward to a drop in the stock market now because i am disciplined enough to resist selling off and just sit back and wait for the investments to go up higher than previous total. Just a question of knowing what youve got and how you manage your investments and more so your expenditures.
Good luck to them, but I’d worry about one major unexpected hospital visit/surgery/illness, which could easily cost several years of their savings plan.
Not abroad it wouldn't. Medical insurance coverage in most other countries is very cheap to have, and out of pocket expenses are about 1/10th of that in the US.
That is the best reason to exercise and eat healthy. Doesn’t cost much money either.
This is why America isn’t for the people
I started my son's retirement account. He is 14 months soon. I want him to be taken care of, but i will also teach him how to save and then invest.
no kids? yeah, you can do anything or retire early without kids
You health goes past 50..cancer..stomach issues..all kinds of stuff can happen..believe me i know..guy next to me at hospital found he had undiagnosed prostate cancer at 57...he was planning on retiring at 60 to spend all his savings with his wife.. just like that taken away from him..has 2 years to live if that. Dont wait till you 65..thats far too late. Plan to retire at 50..everu year that is a bonus. Life is short and tht realisation sucks when something happens you.
you are not retiring with 500K in 2021
D/M M/Y e/x/p/e/r/t b/r/o/k/e/r
F/o/r f/u/r/t/h/e/r a/s/s/i/s/t
o/n h/o/w t/o i/n/v/e/s/t
W/H/A/T/S/A/P/P
+/1/9/2/0/2/2/1/7/2/8/4
I/N/V/E/S/T IN B/T/C AND /E/T/H/..
That would be challenging, but look at the median savings rate in the US. The majority of 60yr olds would love to trade their life savings for $500k.
This is just a commercial for financial literacy.
Who said that you can? Maybe I missed that in the video.
Depends on living expenses and withdrawal rate
Yes true that their 'theory' doesnt apply nowadays. Because we would have heard way more people at 38 sharing their stories on youtube or internet.
Most could not do this, but if you live frugal, no kids, etc. you can do it. But they also take a pretty good hit on social security. Not sure how they handled health insurance, maybe just lucky. I would have preferred to see them lay out their current expenses/income in some detail.
I going to assume they chose to not have kids. Children are the single biggest drain on finances.
FACTS. One (of many) reasons why we chose not to have them. It was really important to us to be able to retire earlier than most and still be able to enjoy life in the process. Not knocking folks who do, hey if it’s for you, that’s great. The stress and financial burden just wasn’t for us.
@@EadsB7002 Bu, bu , but who is going to change your Depends when you are over 90 ? ( they always say, lol).
Having a kids can be a blessing too.. some parents are born to have kids.. some don't deserve them. U have one life and u have to decide what makes u happy. For me kids are not worth it unless I find the right women and be financial stable.
They can buy like 5 houses at that time and live comfortable on rent
That's what I would have done.
Who wants to deal with Renters ?
Depends where you live
Market usually beats rental income with a lot less stress
@@miguelberetta7887 90% of them are losers.
I like the "work life" balance...That's what we do...work, live, travel and work some more....Alot of people retire older and realize that they don't have the energy for it...Which is what happens...Unless you really take care of yourself...
I retired two years ago @40. Amazingly, it took me only 3 years of consistent aggressive investing using a pro advisor to accomplish this. My diversified portfolio just returned over $220,000 in the first quarter. Get a help and hit retirement even faster. That's all it takes considering the nature of investing in this recent times.
I'd love to build a huge stock portfolio, I've set aside $450k to start investing, however, the constant ups and downs in the market keeps throwing me off, please I could really use quality tips and guidance on a safe way to go about this.
@@bartoszvanderlaak9084 I practice a subset of Algorithmic trading. I use trade signals from my investment advisor Monica Sullivan Javorcic and tbh it's been a huge relief for me. Highly diversified portfolio, mind blowing earnings and little to no engagement at all on my part.
@@rocknroll5122 Do you do this manually or you just give her your money? I have a full time job. And what does Monica Javorcic charge for her services?
@@bartoszvanderlaak9084 Nah, I don't give my money to anybody. My account only mirrors her trades in real time that's the ideal for Algo trading. The lady I just recommended is a renowned broker and knows what the heck she's doing. Check her out and get in touch if you'd need help.
@@rocknroll5122 Just found her official website so I'll drop a mail right away. Thanks a whole lot.
I Started this year (25 yrs old) unfortunately it's a bit late but never the less
$500k these days....you’re lucky if you can make it 5 years with that.
If you move to another country, you can easily get by with $1k a month. That means that $500k would last you a little over 40 years! Many more if you invest 80% of it, and cash it out as you need it.
@@michaelbrown5768 yes, you could live in a 3rd world country at $1k/month. Don’t believe everything you read about people retiring on gas fumes and leading amazing lives. And one medical emergency or family emergency, and all bets are off. You need MUCH more than $1K/month at least if you plan to retire, not just survive.
@@swisstrader when your "needs" are few, your "wants" are non-existant, and your level of comfort is low, then yes, you can easily retire on $1k a month. I'm doing it now at the age of 40. People need to learn the definition of "enough" and to forgo instant gratification if they desire retirement.
@@michaelbrown5768 That would be surviving, not living...and enjoying.
@@youngster9267 I AM living and enjoying life on that budget. If I was just surviving, I could do that on $500. I get that you don't understand how far your money goes elsewhere because all you know is how much it costs where you live. Perhaps you could venture out one day and actually see what it's like to live elsewhere before you put your 2 cents in on a subject you obviously know nothing about...
They are not classically retired, living solely on savings distributions. They are energetic, people-oriented, above average intelligence, adventurous, self-employed "carpe diem" Ex-pats, authors, travel guides, financial advisors, with a website where they sell various related packages. Unless they make over a certain amount, their income is not subject to taxes in the US because of exclusions and credits. They opted for a no-debt, no-drain life, venturing way outside the cubical. The message is that we each have more choices than we tell ourselves, if we plan, budget, think creatively, and avoid consumer financial traps. For them, it took the shape of living abroad and having various income streams. Good for them. It works.
D/M M/Y e/x/p/e/r/t b/r/o/k/e/r
F/o/r f/u/r/t/h/e/r a/s/s/i/s/t
o/n h/o/w t/o i/n/v/e/s/t
W/H/A/T/S/A/P/P
+/1/9/2/0/2/2/1/7/2/8/4
I/N/V/E/S/T IN B/T/C AND /E/T/H/...
I am 32 and retired during the pandemic and made 70k in unrealized gains and plan to grow it to a million dollar or more profile CRYPTO is to future look up technology surrounding it and educate yourselves on use cases because weather you like it or not you are using it’s technology
Crypto is the only way to retire early, there's nothing else left that will beat inflation
Is that number adjusted for inflation? If not, $500,000 in 1991 is the equivalent of $1.15 million today.
Inheriting enough to retire comfortably on was the smartest financial decision I ever made.
How did he save 25x his annual spending by 38?
Very inspirational 🥲
500 000 usd in 1990 is almost 1.000.000 usd now 😭
Online investments and trading have really helped many people achieved FINANCIAL FREEDOM, although many also had losses due to lack of knowledge and self trading. I recommend Maria Martinez for anyone who wishes to make huge profits from investing.
Feels so good to also see someone here who knows about Ms Maria's investment. My life changed for good after my investment with her.
I saw a post about Ms Maria here months ago, although i doubted but decided to give it a try. Now my family is enjoying from that decision. Thanks to Ms Maria.
I have been having losses on my trading, please someone should put me to this Ms Maria's investment.
I lost my job due to the Pandemic and life became very difficult for my family, until i saw a post made here about Martinez Maria's trading investment. I doubted because of scam but i reluctantly lnvested with her, and i do not regret lnvesting with her. Thank you for bringing joy to my family once again. Please lnvest with her.
Her investment is very popular over here in California, most of my friends invested with her and made huge profit.