One thing I learned is that giving up is never an option, the mistakes I made took me to where I am today. I never thought that trading forex from the comfort of my home could solve and satisfy me financially, but I given all the credit to @carlos_1uptrades on instergram who helped me changed my life Through forex trading
A lot of people are not financially stable this period and it's not easy, I always advise people, don't just waste your stimulus checks or salary, invest it in something that will yield more, even if it is a part of it. We can't keep relying on a paycheck that is already half-spent before we even receive it, there are investment opportunities that have helped a lot of people especially in the financial market. Having different streams of income is essential in this pandemic, especially now most of us have to earn and work from home. I've made impressive progress so far this year and it has helped me sort out a lot of bills and I do that through a registered investment company. You can get in touch with the manager via Instagram @nicholas__fxtrade he will guide you properly.
Hey Guys! Had a lot of messages over the past 1 months regarding starting out in Trading ,Where to start, who to learn from,what to do, what to avoid, amongst many other similar questions.I definitely know the struggle trying to figure out where to start. I work with Mr Nicholas Myron who has taught me how to capitalize on the stock market trends and his trading signals and strategies have actually proven to bring out best results with his knowledge and experience from stock trading, I'm always grateful because it has actually been helpful to me financially. Mr. Nicholas. who help me in the trading with his winning streak strategies. Reach him via ,Instagram @nicholas__fxtrade he also gives the best advice on anything concerning trading.
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.
For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $875k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
As a new investor it's always great to hear from a person who has gone through all the difficult times and come ahead of it. What are some strategies i can employ to be successful?
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 62 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
A financial advisor could really help you re-adjust and identify blindspots that you yourself do not notice, like mine did in advising me during COVID on how the pandemic will shape things, and I made it out big and still make up to at least 20k in dividend per month.
A 401(k) can be a valuable retirement planning tool, but its effectiveness depends on various factors, including individual financial goals, investment options, and employer matching contributions.
I have been advised on that. Finding one who understands what I want and can work with me to achieve it is very important to me. Do you have any recommendations?
Money is very important no one wants to leave the money making business. for me, As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
I'm still at a crossroads deciding if to liquidate my $338k stock portfolio. With Roth IRA, the money you are contributing has already been taxed. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, Not sure how much to contribute.
Yes, you are right. it's been a brisk tailwind for investors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financial advisor.
“Sonya Lee Mitchell” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
I recently adjusted my Roth IRA to 50% in SCHD, 25% in SCHX, and 25% in SCHG. For my Roth 401k, I went with 70% in Vanguard's S&P 500 Index, 20% in the Vanguard Growth Index, and 10% in the Vanguard International Index. My goal is to grow my $350k to over $1 million within the next three years.
80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.
Why is everyone concerned about out living their money? You need to scale back if you need to and get in some dividend paying instruments, don't ever touch your principle, that's financial suicide.
Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$3.3m Less than 3 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Kudos to my advisor.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years,but I've stuck with *MONICA AYAKO VOS* for about four years now, and her performance has been consistently impressive.
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. I retired with about $650k in my 401k.
People don't really know this, 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
I completely agree; I am 66 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, i didn't achieve all this on my own, i did it with the help of a Financial advisor. Just do your due diligence to identify a fiduciary one and the rest is history
Do your due diligence, and be on the lookout for one with strategies to help your portfolio maintain an unwavering and progressive growth. " Marisol cordova * is responsible for my portfolio success, and I believe she has the qualifications & expertise to meet your goals.
This is useful information; I copied her full name and pasted it into my browser; her website popped up immediately and her qualifications are excellent; thanks for sharing
I live off dividends and it can definitely improve your wealth if you reinvest them to buy more shares, creating a snowball effect that allows your investments to compound over time. It's one of the most passive and effective ways to build an income stream. Steady growth can be truly inspiring! Seeking best possible ways to grow $500k into $1m+ before retirement in 5 years
Your allocation seems well-diversified. To take it to the next level, explore dollar-cost averaging and dividend reinvestment. However, it's essential to consult with a financial advisor to create a tailored plan aligned with your unique goals, risk tolerance, and retirement timeline.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation
Amy Desiree Irish is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800k
My CFA ’Amy Desiree Irish’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
As an investing enthusiast, I've kept aside a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being propaganda. Is this a good time to buy stocks, or do I wait for the crash?
The stock market can appear as a bewildering cauldron of fake news for new investors. I would advise using a CFP, giving him/her 2/3, and then investing the 1/3 on your own, but only if you have time to track stocks and educate yourself.
@@RodericksCurrys The issue is people have the "I want to do it myself mentality" but are not equipped enough for a crash and, hence get burnt. Ideally, advisors are reps for investing jobs, and at the first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
@@PaulsByarses Congrats! The market to me is like a lucrative chess game, incredibly difficult to outperform, it's all about understanding how the world moves, its history, and psychology... mind disclosing info about your CFP? I'm quite curious.
@@AuerbachsPettises The beauty of MARGARET MOLLI ALVEY approach is her dual focus: while aggressively pursuing profit opportunities, she's equally tenacious about shielding investors from potential pitfalls. It's a balance few can achieve.
While your 401k and IRA account would likely continue to grow even after you stop contributing to it, that growth might be limited by the Market, your personal plans and also other factors. For this I see need for annuities. I still will like to know how to compound $2m and above in retirement without holding cash.
Bond and other fixed income asset if properly managed could produce the yield needed to provide solid income for retirement. The importance of a continuous wealth accumulation and ensuring financial stability is why boomers turn to advisors in retirement planning.
It is very important to be proactive and also consider diversifying assets to manage risk especially in uncertain economic times. The ability to identify and mitigate potential risk on my assets is the reason I delegate my day-to-day investment activities to trusted advisor ever since I had a major step down amidst rona-outbreak in 2019. Now I am close to retirement and my goal of $1m retirement funds even after other investment is 95% sure.
It is important to consider a financial planner early, before the last year of retirement. I am currently working with a financial planner called Jason Herman Pierce. I really appreciate his cutting edge financial strategies. It really works for me. His vast knowledge of international market and tax implications allow us to moderately diversify my investment portfolios, minimize tax liabilities and access new markets with potential high returns. And I am two year from retirement and my financial goals is secured.
Please how can I get in touch with the advisor guiding you. I am close to retiring and I didn't make proper planning and investment for retirement. Thinking about now scares me. I have to start somewhere. It is better late than never.
@@HarperScott-pk6uk His name is Jason Herman Pierce. You can google him via your search engin to get information about him. I am sure you will be fine.
Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as stock, EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
“LAURELYN GROSS POHLMEIER ’’ 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.
My spouse and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
Hello! Sharon Lee Peoples is my consultant. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online.
My retirement account has gone down by 13.7% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.
If you want to rebuild your retirement by yourself, without the help of a partner, I will tell you it is near impossible. Even NewRetirement and co can’t do the job of an FA with expertise, a large following/client base and experience. Vet and hire one and begin to develop a rapport.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
A minimum of 10%of your income can generate a greater value depending on your age and salary level you just need to calculate it so you can see the difference
One may ask how can I even calculate this to get to the exact interest level I actually was at that same state but thanks to a Bianca Harley Doran a professional who guided me through the process
Sincerely if one can even increase the percentage is still for the best .my percentage as at that time was 30% I was so pleased because I had listened to Bianca Harley Doran,she is actually doing a very good job. currently the Interest is still paying .
After investing from my salary of 350k for 4 years, I've only made about 8% total, or 2% per year, which my friends say is very low. My employer 401k of $220K returns about 4%. What would you advice to do with my portfolio for improved returns?
@PapiChulo-t1s The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.
@PapiChulo-t1s The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, Financial Consultants are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded massively in ROI, summing up to 7-figures as of today.
@PapiChulo-t1sMy dear husband passed away in 2021, and I have around $400K from his life insurance just sitting in a bank account, earning nothing. I was advised to invest it through an advisor, and in just six months, I achieved over 80% capital growth, not including dividends. Highly recommended!
@PapiChulo-t1sThe key is diversification. Personally, I delegate my day-to-day investing to a license advisor, cos my job doesn't permit the time to analyze stocks myself and thankfully, my portfolio has now 5X in 5 years, just about 10% shy of $1m. Stay positive friends.
The key is diversification. Personally, I delegate my day-to-day investing to a license advisor, cos my job doesn't permit the time to analyze stocks myself and thankfully, my portfolio has now 5X in 5 years, just about 10% shy of $1m. Stay positive friends.
A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can take advantage of compound interest and potentially grow your retirement savings overtime?
That is exactly the reason I stopped trusting the financial advice of TH-camrs; in the long run, I only end up with a jumbled collection of stocks and bonds. Whereas all I needed to earn over $350k in less than two years was guidance from a true market expert.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I am currently working abroad, but I will be returning to my home country in the near future. I am a landlord. I invested in a property at the age of 22. The value has skyrocketed and is being rented. I will live off the rental income I receive and live with my elderly parents for the time being. At 60 I can withdraw from my retirement (401(k)). Have savings and be eligible for an Australian pension at age 63. In the future, I may downsize, sell the property and buy a cheaper property and add the money left over from the sale to savings. Lots of options for me. The way I see it, if you have a million dollars at any point, it would be enough to build a portfolio that would pay you between 50,000 and 70,000 in dividend income.
I've been saying the same thing for years as you get older time gains value and money loses value. I retired at 62 and moved to the Philippines after recovering from a workplace injury. No stress, no rent/mortgage/debt, it's cheap to live here, eat healthier and the wife here treats me like gold. It's not just about saving. To optimize financial results, individuals may seek the guidance of a qualified financial advisor who can provide personalized advice and strategies to minimize expenses and maximize income.
@@Americanpatriot723 I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "JILL MARIE CARROLL" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
@@Ammo-Hoarder This is useful information; I copied her full name and pasted it into my browser; her website popped up immediately and her qualifications are excellent; thanks for sharing.
A couple of years ago I considered getting into a Roth IRA and 401k without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. A few years down in, I truly cannot stress enough how helpful experts in this field are! Great video brother.
I found out that investing is not rocket science. Jonas Herman is the brain behind my success. I've gotten into a plethora of assets with $43k spread across stocks (index funds) for the short term etfFs, and Roth Ira for the long term. Now I sit back, and just reinvest at intervals while I handle my other businesses.
People often mistake hubris for actual knowledge in the finance sector and I don't even blame them because there's an influx of false info on the internet today. Unfortunately, it hampers rational decision making. He is one of the bright ones, providing me with a great deal. Indepth investment strategies are just one of the many components.
Before I retired, my 401k had a match and a Roth option. That was a good investment for me. I also maxed out my regular Roth and I’m happy with that investment too.
That is great! However, I advise people never to forget the diversification principle, make sure to diversify your investments so that when another is down, the other will be up. You can do so by getting an experienced specialist whose platform has diverse investment choices to choose from. By doing this, you give little room for regrets and perhaps gain more.
@frederick higson Funny enough, I can honestly relate. I don't know if I am permitted to drop this here, but do run a check on Sandra Yvonne Webster or Sandra .Y. Webster Finance. Was in the news alot in 2020.
My $2m retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 22 years of working hard.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
I must admit that she seems to be extremely knowledgeable, so thank you for sharing. I looked through her resume after seeing her website, and it was rather remarkable.
If your work doesn't match your 401k, open an IRA and give yourself better options. A 401k usually has limited options. The match is what makes it better.
IRA has a low annual limit though. Not that you shouldn’t have one but you won’t end up with more than like $1M which will probably just be like a nice house and some walking around money one day
They need to teach this stuff in high school. People don’t know how to manage money and that knowledge should be sacred. It’s not because we live in a classist society.
I am in my mid 40s, haven't begun my retirement plan and want my financial portfolio to be set to where I no longer have to worry about having enough financially. I am looking for your help please.
Buying stocks might seem easy, but picking the right one without a solid plan is tough. I've been trying to grow my $100K portfolio, but the tricky part is not having clear plans for when to buy and sell. Any tips on this would really help.
@WaynePhilip89 I agree. From my own experience with an investment advisor, I've got $1 million in a diverse portfolio that's growing fast. It's not just about having money for stocks; you need to know your stuff, stay determined, and be resilient.
@WaynePhilip89 VICTORIA CARMEN SANTAELLA is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Get an index fund, like the S&P 500, which is basically a collection of the 500 largest caped U.S stocks. That way you don't have to figure out what stocks to put your money in and then you have a diversified portfolio. Lastly, Don't try to time the market, that's probably one of the worst things you can do, and is how a lot of people get killed in the stock market. Instead invest your money in an index fund and let it sit the next 5 to 10 years without touching your initial contribution and you should see your 100k portfolio grow at a decent rate of around 8 to 10 percent a year.
One of the most briIIiant investing advice i have ever gotten on youtube came from watching an interview with Julianne Iwersen Niemann on CNBC. Indeed, A solid investment strategy is like a well-planted tree-it can withstand storms and still grow strong
That's great advice! Julianne Iwersen Niemann's perspective on investments as a long-term growth strategy, much like a well-planted tree, is a solid analogy. A good investment strategy should be resilient enough to endure market fluctuations while still growing over time. It's essential to have a strong plan that balances risk and reward, much like cultivating a tree that thrives even in tough conditions. Working with a seasoned expert like Julianne can help ensure your financial decisions lead to sustainable growth.
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 40+ years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
As a soon retiree, keeping my 401k on course is my top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner or be working with one
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
Who is the coach that provides guidance for you? I urgently require assistance; my stock portfolio is stagnating, and I need investment advice for retirement.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@@stephenpotter21 I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
Interesting video I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sonya Lee Mitchell’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
To achieve a secure retirement, aiming to save at least 15% of your income in a 401(k) is advisable. Online tools can assist in calculating the best savings strategy for you, considering factors like age and income. Consistently saving this percentage can help build your retirement fund effectively, thanks to the benefits of compound interest.
For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $875k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@@ChrisDERUNNER That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
“Cynthia Alexandra Jackson” a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Market declines, soaring inflation, a significant increase in interest rates by the Fed, and rising Treasury yields all point to additional losses for portfolios this quarter. How can I profit from the present market turbulence? I'm still debating whether to sell my $125k ETF/Growth Stock portfolio.
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a coach or other professional for advice.
@@geraldantonio3160 Yes, I have been in touch with a coach ever since the outbreak. Today, investing in hot stocks is quite easy; the difficult part is deciding when to buy and sell. With an initial starting reserve of $80k, my adviser chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@patriciamartin10 Stacie Kristal Weber, my financial advisor, is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field.
The thing that led me down this path of videos is exactly what this guy is going through. Once I dug in to my 401k I found out I had far better options than the safe option the company had chosen for me.
Most people don't realize that there are other options. At my previous job I told people about other options and literally no one knew that those other investments existed. People's returns went up big time.
If your 401K has bad funds or not enough, or perhaps the fees are too high and there is no match, switching to a ROTH IRA and using broadly diversified low cost index funds would be the best option.
As an investing enthusiast, I've kept aside a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being propaganda. Is this a good time to buy stocks, or do I wait for the crash?
As for whether now is a good time to buy stocks or wait for a crash, it's important to remember that trying to time the market can be quite challenging. Instead of trying to predict market movements, consider focusing on a long-term investment strategy that meets your financial goals and risk tolerance. The dollar-cost averaging method, which involves investing a fixed amount of money on a regular basis, can also help mitigate the effects of market volatility. Ultimately, the decision to purchase stocks should be based on your personal financial situation and long-term investment plan
I learned this lesson the hard way! Do your own homework. It’s a lot of work but you’ll be so much better for it. Don’t rely on anyone else for something as important as finances!
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
How to retire by 40. Step One: Get a high income skill that pays according to your skills not per hour. Step Two: Cut your expenses and live below your means. Step Three: Save and invest most of your money. Shoot for saving 20-50% of your income if possible. But if you can only do 10% then do that. Step Four: Grow your knowledge so that you can do better in personal finance and investing.Step five:Get a Financial advisor(obviously) Step six: Let time work for you. Start as early as possible, every year makes a huge difference. "The best time to start investing is yesterday, the second best is today."
@@robertthurmond8161 well i have two advices1) Read The Millionaire Next Door byThomas J Stephen. 2) Use a professional investment strategist/ Financial adviser. you can use mine i found her on a webinar on the F.I.R.E movement, you can look her up, her name is Lucy Maria Koss
I’m doing well so far, approaching retirement with around $800k in savings. Shifting from wealth accumulation to spending can be daunting, especially with high inflation. After maximizing contributions to my tax-advantaged retirement accounts, what should be my next step?
In my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
We had a very limited 401k. The funds always under performed in their categories. So many complained they changed the company and allowed to select our own Funds and ETFs..
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my 1m portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my money goals?
Generally speaking, a good number of people discredit the effectiveness of financial advisors in planning for retirement, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
She goes by ‘’Kristin Amber Landis" I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Come on man, you can’t be this dumb if you’re already saving this well… If your portfolio tanks completely enough for over 5ish years causing your retirement to completely be derailed then SHTF and we got bigger issues. You’re gonna be okay just keep them contribs going.
@@Nepthu Im 36 been contributing to my current plan for 12 years. I earn decent money but nothing crazy. From the start of the year mine is up 10% for the year, that is 15k in my account. That certainly is worth the hype.
@@Nepthu Like Ramsey says, increase in value doesn't go up diagonally. It curves up and end up 20X, or more if you consistently keep up with your contribution and with a good investment. Time is your friend. Just put your money in the index fund that your company offers. You don't need to put it in other investment options like Ramsey says. In your IRA, you have more options in the type of investments you can choose.
He was probably invested in a target date fund. Unless you’re self-employed, a traditional 401k is your best bet because its contribution limit is higher than an IRA. But it’s tough when your company’s plan doesn’t offer many good mutual funds in which to invest.
Well, I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered and I don't know where to go here out of devastation.
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.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalised guidance and help you make informed investment decisions.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring soon and I might need some management on my much larger portfolio. Don't want to take any chances.
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
We experienced the peak of our era, and now it is gone. Recession is tanking everything including 401K. My retirement equities portfolio of $750K is in the reds. I keep losing because of inflation. This world will fall to the corrupt rulers in the same way that Rome did. I'm sorry if you're thinking about retiring and you're worried that your pension won't be enough to meet the rising cost of living. Horrible foreign policies everywhere, bad regulatory policy, bad fiscal policy, and bad energy policy.
For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.
I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
A NICE VIDEO, EVERYONE NEEDS MORE THAN THEIR BASIC INCOME TO BE FINANCIALLY SECURED. THE BEST THING TO DO WITH YOUR MONEY IS TO INVEST IT BECAUSE MONEY LEFT IN THE BANK ALWAYS END UP BEEN USED ONE WAY OR THE OTHER WITH NO RETURNS. I USED TO BE A VICTIM OF SUCH, NOT ANYMORE. I INVESTED AND MAKE STEADY PROFITS.
The pandemic has taught everyone the importance of having multiple stream of income, unfortunately having a nice paying job doesn't mean you are financial free or secured.
Investment is that tiny line that separates the rich from the poor. The wise from others. I can proudly say I am wise man today because I can provide for my family through my investments.
Ever since I stopped working with my former employer, I have been surviving through my investment with Joanna, am so glad I invested when I did, months ago I was able to raise money to start up my own firm.
It's an ok example I think, all he really had to say is that the 401K is the legal framework for it, but the options inside of whatever investment you want is where it gets fun.
@@kbanghart Do you really think that the guy calling in would understand your use of the language if he didn't understand what difference between 401k and the individual investment was? I think not.
I recently viewed an impressive video that prompted me to reflect on my experience with a financial adviser recommended by a colleague. I started investing with less than $100,000, and within just two months, my portfolio grew to $234,800. I reinvested a significant portion of my profits, which has led to consistent earnings over the past year. Recently, I also purchased my second home at the beginning of summer.
Hi, I’ve had to explore additional sources of income after being retrenched, and managing my trading and investments is challenging with a new baby at home. I'm wondering if I should take a break from the market to focus on other priorities or try to engage whenever I have free time. Is trading best approached as a continuous process, or is it wise to step back for a while? Thank you!
@@MicheleTheodore-p9n If you don't have access to an expert like Maria Christine Jouclas, it’s unwise to quit your job to focus on trading. Evaluate your options and seek advice from trustworthy sources before making such a significant decision. Using advanced AI tools or automated trading systems can help manage your investments while you keep your job. Based on my experience, Maria is reliable and knowledgeable in the complexities of trading.
As a passive investor, is it wise to buy market tracking index funds and ETFs from companies like Blackrock, Vanguard and State Street, even when they're at all time highs? i want to invest around 600k for retirement
These funds offer diversification, low fees, and long-term growth potential. Given the significant amount you plan to invest, consulting with a financial advisor can provide personalized guidance tailored to your specific situation and retirement goals.
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
True, but when will the fund expenses outweigh the tax benefits? Taxes are at 15% for most people-there’s not 401k in the world with more than 15% in fees.
You decide to what fund you want your retirement money to go. Company/organization 401 do have benefits, even if they don' match your amount. For example, if you are sued, your retirement funds are protected in the company plans, so they stay safe. There are other perks, too.
It is better if you invest that same amount in your IRA, max it out each year and then put the rest into your 401k. IRA accounts have more options in different type of investments that 401k don't offer. Also, if you change jobs, you don't have to move your money from the IRA account but you might have to with your 401k to an IRA, or to your company that you changed to. If you change jobs more than once, then you have to move it once again. So, in that case, just move it to your IRA Account each time you change jobs.
@@1flash3571 If you change jobs you do NOT have to move your money. My portfolio is proof of that. And the choices under company plans have been more than adequate for me. In the end it's a decision the investor/worker has to decide.
Here in Canada you contribute to the 'Canadian pension plan' by default as an employee. You're guaranteed to lose money on your investment. Don't assume the government should ever do a good job of investing or getting those returns back to you (his suggestion about perhaps getting a guaranteed 4%)
We have Social Security in the US, and it SUCKS!! I wish we could have an option not to contribute to it and put money in something else. Employee pays in 6.2% of income and the employer pays 6.2% of income, so that’s 12.4% of income that goes in Social Security. I make 90k a year at the age of 30, so the contributions are $12k a year almost.. but yet when I retire at the age of 65, assuming that I keep on making 90k a year for the next 35 years, I would only get $4k a month!!! And when I die, all of that contributions are gone. What a ripoff!
I don't do any government "savings" that tells me to defer my taxes for later .. and where I can't get my funds unless I meet a certain criteria of rules, whereby I then have to go to my HR and explain to them why I want the money ... and where it's due IMMEDIATELY on no longer being with the company. I pay my taxes upfront and I move it to other places. Just a personal decision. I refuse to justify why I want my funds.
Exactly!!!! Pay your taxes now.... on the seed, do not pay taxes on the harvest after you have spent 30 years building a nest egg. Taxes are the lowest they have been in 30 years. The deficit is going to be 30 trillion when the stimulus is done. Where do you think Uncle Sam is going to get all this money? They only have one bank...... and that's taxes. Most economists agree that taxes have to go up. There are many more factors involved as well, but something to think about.
Government savings plans and pensions are just another way for the government to control people. If you take money out of your savings plan for a reason the government doesn't approve of, they penalize you. If you leave your government job, you don't get a pension.
That's too bad. While you are so focused on rebelling against any rules or restrictions because you want to treat your retirement savings as a free-access fun money account, you have sacrificed any matching on your contributions you could have received. And if you change jobs you have a valuable opportunity to roll a 401(k) into a self-directed IRA. The great thing about a Roth IRA is you do have access to your contribution money in the case of a dire emergency. But if you manage your money properly you should have an emergency savings account for the car/house repairs etc that always happen.
This is a Great video, Everyone needs more than there basic salary to be financially secured. The best thing to do with your money is to invest. Money left in savings always end up used with no returns ..
I think the pandemic has taught people the importance of multiple stream of income, unfortunately having a job doesn't mean financial freedom or security
The global pandemic shut many financial institutions from functioning thereby rendering most people jobless & investors lost more than they ever thought of losing.
I put some money in a Section 457 account (kind of a public-sector version of a 401(k)), and it enabled me to retire two years earlier. My defined-benefit retirement plan is my primary source of retirement income, and it's pretty decent since I put in 41 years of service with the same employer. No complaints here, for sure.
@@Brussardjnr I'm not sure about 401(k) plans. But with Section 457s as mine was, they can either remain where they are or if one goes to another job where they have 457 plans AND they accept a transfer from the previous one, they can move with you.
For some perspective here, after reading these comments; Australia has a "Superannuation". By law, the employer has to deposit 9% of each paycheck into your "Super". It's yours, you can self manage it, or give it to a finance company to manage it. You can invest in stocks, real estate, whatever. Self managed supers are effectively trusts, and you can purchase your home and leave it in a self-managed super.
I don’t think that that was what the caller was trying to achieve. He just didn’t select the right option when signing up and he also doesn’t know what a 401K is and how it works. He just needed some guidance to figure it out. We all do. He wasn’t trying to deviate himself from Daves plan but merely understand what to do and what he was doing wrong. Some people want to stick to the plan but just don’t understand the fundamentals. He’ll learn.
Its definitely good to contribute to both a roth ira and a 401k. Specially if ur company matches ur contribution. And having roth ira also gives u tax free growth. Its best to contribute to both as early as u can
There's one piece you're missing from this equation. Most 401(k) plans have an investment window or selection of funds to choose from. It is the fiduciary responsibility for the plan sponsor to provide not only funds that preform well, but also do not cost too much. (The fund can preform well but if the fees are high, it can take away from your gain.) Some 401(k) plans allow for you to select funds outside that window but sometimes there is a separate fee involved. Let's also talk about the cookie jar or the record keeper. The record keeper holds the assets and in most cases will do the administration. Once again if the fees are high on that side, it creates an expensive 401k. Make sure your business is benchmarking those fees against their peer group. Lastly, service is very important too. If the advisor is not coming in and giving education to the employees there is a problem. In most cases he or she can not make an investment choice for you, but they can point you in the right direction. Making a recommendation to go into 4 funds is tricky. You first have to see the time horizon and risk tolerance of the investor.
the doge I fully understand that but if you look at and consider the consumer price index and inflation index adjustment they apply to it on an annual basis as well as the fact that you are being forced to pay in it essentially acts as an annual 2-4% “guaranteed” growth vehicle as the caller was alluding to. I am not supporting it in anyway but rather pointing out that this “brilliant” government option is precisely why anyone with two brains cells would never want to give their hard earned money to the government to “invest” for them.
They've been doing a perfectly fine job with Social Security, the main issues have been that people are living longer and that they're depending upon it more. Social Security was never intended to be a 100% retirement, it was meant to be a portion of retirement. The real problem, tends to be the lack of pensions and the failure of people to plan for replacing the money. The shortfalls are more or less trivial to solve, just increase the ceiling on the tax and increase the retirement age by some portion of any increased life expectancy.
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Most people don't understand most things. The 401k is about as easy as it gets. Excellent program, people are just so impatient and expect to become millionaires overnight. You don't loose money until you sell at a lose.
@@csick11 Gotta disagree, spent a year with a company with no match, my CFP choose the investments, walked away a year later with $44k to roll over to my IRA. So I lowered my taxable income and I added a nice chunk to my future retirement. A match is like dessert, putting your money in the 401k is the meal.
@@JohnDoe-gc1kt We're all limited to $19k per year to divert to a 401k account. An extra $6k if you're over 50yo. If HrhSophia diverted $25k in one year with a $19k increase, then 43% return was achieved. May have been from the March 2020 to now stock mkt improvement, because that is an incredible return
@@jjohnson5014 im a financial advisor no need for you to explain. Have you actually looked at 401k contributions? I have and I can tell you most people don't make enough to contribute enough to comfortably retire. 401k benefits high earners. 19k isn't much for someone who makes 100k but for someone who makes 40k its nearly half their salary BEFORE taxes.
How come Dave is willing to recognize that 4-12% is a huge difference but won’t recognize that the fees on mutual funds will cost you a huge difference?
@@alinatamashevich3354 personally I don`t invest in mutual funds, the closest thing to that in my portfolio is the wealthsimple robo-advisor, it functions similarly to a mutual fund, but with way lower fees, and you can choose a socially responsible fund, which I think is awesome
Dave is not a feducary. The rub is he always tries to sell his smart investor pros. He gets his cut ( not saying he shouldn't). Low cost index is where it's at. Like the money guy show says , jack bogle , jl Collins ECT
It's so sad that there are so many people out there who don't understand the financial tools available to them, especially when they can be supremely helpful, once you understand how to use each one. Understanding how each one works can literally change your life that you're living, or planning to live.
@@younggandlegit1 The key is to understand early starting with basic math in 1st grade. I had a savings account since 2nd grade and a Schwab brokerage account investing since 10th grade. Never any debt or financial issues.
@@Muthurtucker When I grew up it was common for kids to have a savings account. It was call a Christmas passbook savings account or something like that. It was free to open. I was working through high school wanting to invest my money and asked my dad. He opened a custodial brokerage account for me since I was under 18 and responsible. I’m sure he would not have done this if I had your attitude.
It surprises me that many people even at an old age still don't know anything about retirement. Why even give anyone or investment your money if you have no idea what they're doing with it?
With the wealth of free information available now, with just a little effort people can become informed investers. Not sure how to explain why a person would not consider financial education, but many don't invest in there knowledge.
John Smith I was fortunate on two fronts: I grew up listening to people talk about pensions and 401Ks and my job had written information about 401Ks so I could read all about the plan. Recently they began offering webinars that explained about my 401K, its tax benefits and how new legislation affects it. It was really helpful but the presenters could not give advice as to which funds to pick or other financial advice.
The high majority of people do not understand retirement investing, financial literacy. Simply because public school does not teach it. Govt does not want it. They want you to keep working till you can't anymore. They want as many payroll tax dollars as they can get. Sad but true. Life is short invest in yourself. It is up to you. 🍻 Cheers
@@rondellschuyler7074 and with public schools, you have taxpayers who complain about it because they only want their tax dollars to fund basic classes in public schools. They consider financial management to be extras. Not all of them, but son.
My wife does payroll for lla large corporation, and you might be shocked, probably very disappointed in the number of blue collar workers who have no idea what their options are or mean, even if they are shown. My wife also did training for a few years. And sorry to pick on mainly blue collar, but that's where a lot, probably most of it is from.
For any Canadian's digging Dave's info here is a translation. A 401(K) is similar to the Canadian RRSP (registered retirement saving plan). With an RRSP a limited amount of money each year can be put in this "cookie jar, eh" and that amount is deducted from current taxable income. If you make much more than $100K that is a 42% immediate albeit temporary return. The investment growth (stocks, bonds, mutual funds etc) within the RRSP is sheltered from tax until it is removed. When funds are withdrawn the money is taxed at the current rate which varies given the person's annual income. The money is meant to be withdrawn after retirement when it will draw the least tax as the person likely will be in a lower tax bracket. I am sure I will be corrected if I have not got the comparison right. I believe a ROTH IRA is similar to the Canadian TSFA (tax free savings account) but I will leave that for another time.
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
@@Petroguest-i4g Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@Countstep0099 I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with "NICOLE DESIREE SIMON" for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
@@2024Red-j5t I just looked up "NICOLE DESIREE SIMON" online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
If you get no company match on a 401k, it's better to use an IRA/Roth. You generally get more choices and lower fees with an IRA/Roth. Once you use up the IRA limit, then use the 401k if you have more to save for retirement.
Works for some people, but if your income goes over about 66K (single) then pretax IRA eligibility starts getting phased out. There are income limits for Roth IRA too but it's something like $139-140K MAGI this year.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Bestjudy001 However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
Overall and Most valuable retirement advice is to invest in assets. ETFs and real estate is the reason for my robust portfolio and investment size, I make over €57k after compounding profits. My goal is to build a solid financial statement before 60.
Selling calls and puts and adding more and more money to your account is something that should be taught in school. I wish I knew how to trade stocks 10 years ago, really. But real estate and this strategy is how I have actually become wealthy.
The thing is; I know people who got wealthy by trading stocks and I know many others who lost everything on bad investments. It's the risks involved for me, I can't handle it emotionally.
Nice of you to recommend such a reliable broker. Elizabeth Warren Shaw is an Elizabeth Warren Shaw is a very accomplished trader with several qualifications to her name and ultimately, bragging rights.
As a beginner, I couldn't bear the risk of trading myself so I let the renowned Elizabeth Warren Shaw trade on my behalf because of her profound knowledge and successful track record. It wasn't a bad idea after all because it has been very profitable for me. Her Cell;+1(3.2.1)5.7.6-5.6.6.9
@@jamesmorgan852 Options Trading is the cheat code for having a successful financial life, trading with the right account manager or software would free you
Without a match, a 401k would drop way down on my list of priorities. Below maxing out a Roth and probably below my individual brokerage account even. I max out my employer match and move on to other ventures.
Slim567 Wrong. The MATCH is what matters the most. There is no other investment that can net you 50% or 100% guaranteed returns which is what a match is. Even if you whatever you invested in has zero or even negative gains you still get 50% or 100% of what you contribute. Nothing beats that. Always contribute up to the match first no matter what.
I have a 401k with no matching. I put in 10% each check and get paid weekly. I completely understand this guy. It sucks but it’s better then nothing. I work self employed with other jobs as well. 5-6-20
John Smith I also have an IRA that I put $25 a week into. I know it’s not much. I am paying off all my credit cards right now. I am hoping to have that done by next month. 5-6-20
@@jdm9499 If you have to option to do a roth vs traditional 401k go for the roth. Roth contributions go in after taxes and when you retire and pull the money out you will not pay taxes on that money.
My company offers a 401(k), Roth IRA & a Roth 401(k), all with a company match of 4%. I had been contributing 10% to my 401(k), but since we paid off all our debt I raised that to 15%.
Even a no match still do it ,BUT first look at what options of mutual funds they have if nothing good then do not do it .What it does lowers your taxable income if you leave you take it put it in a IRA that you did research on .
If there is no match there is no reason to have a company 401(k) vs. a regular IRA. With an IRA you can buy many of the same funds for much lower fees, it's worth it to hold your nose and pay the fees for the 401(k) if you get a good match. I put 6% in my 401(k) and my company gives me an 8% match. I pay $5/quarter in fees to Fidelity and the funds themselves have their own management fees baked in. So, for me it's worth it but if I were to change jobs tomorrow and I didn't have a match at the new place I'd roll it over to an IRA.
@John Smith I think you're missing a couple of details. An IRA is not the same thing as a Roth IRA. IRAs have similar contribution limits to 401(k)s. IRAs, like 401(k)s, have contributions made with pre-tax dollars. Roth IRAs get contributions with post-tax dollars.
@@sharknado523 I don't know that I'd really call a $6k limit similar to $19.5. It can be even less than $6k, depending on your income. There's also Roth 401(k)s as well. They're both useful tools and how you best use them depends on your circumstance.
Great stocks and I just bought in on them, but I'm interested in making a short-term profit, let's say turn a $150K to $ 500K in 6 months, I'd appreciate tips on how what stocks to buy to make this much profit.
RETIREMENT QUESTION!!!!! HELP!!!! My wife has a 401K ROTH. Her employer matches her contributions into the ROTH account and on her paystub it say the employer match is PRETAX. When do we pay the taxes on the employer match (assuming it has to be after tax for ROTH)?
My teacher 403B sucked. All the investments I could choose from were terrible making 10% ten year returns. There are many other funds out there that make much better returns. My husband in his Deferred Comp had great fidelity funds to choose from making 15% and some more. They don't tell anyone about this when they start their investments. This is why you hear from so many that the stock market doesn't work. It's because they were sitting for years in terrible funds.
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 10 years.I'm retiring at the end of this month at 45, while my wife will retire next year at 40. We currently have 1.7 million in out tax deferred savings..so I don't actually agree with this
@@harleycartley3138 Certainly I do but I can’t just leave her info here, just google her yourself, her full name is Lucy Maria Koss, she has a website and everything so you can reach her from there
A 401k, Roth IRA, and your current home shouldn't be the only retirement plan you have. Max out your 401K and Roth IRA, pay off that mortgage, while investing into a diversified portfolio.
@@John-xf7ft Putting your money into a mix of diverse investment types that acts to spread investment risk and minimize volatility. A "Don't put all your eggs into one basket" kind of principle.
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What if there is no smart vestor Pro in your area is there a way to call them or chat online
One thing I learned is that giving up is never an option, the mistakes I made took me to where I am today. I never thought that trading forex from the comfort of my home could solve and satisfy me financially, but I given all the credit to @carlos_1uptrades on instergram who helped me changed my life Through forex trading
A lot of people are not financially stable this period and it's not easy, I always advise people, don't just waste your stimulus checks or salary, invest it in something that will yield more, even if it is a part of it. We can't keep relying on a paycheck that is already half-spent before we even receive it, there are investment opportunities that have helped a lot of people especially in the financial market. Having different streams of income is essential in this pandemic, especially now most of us have to earn and work from home. I've made impressive progress so far this year and it has helped me sort out a lot of bills and I do that through a registered investment company. You can get in touch with the manager via Instagram @nicholas__fxtrade he will guide you properly.
Hey Guys! Had a lot of messages over the past 1 months regarding starting out in Trading ,Where to start, who to learn from,what to do, what to avoid, amongst many other similar questions.I definitely know the struggle trying to figure out where to start. I work with Mr Nicholas Myron who has taught me how to capitalize on the stock market trends and his trading signals and strategies have actually proven to bring out best results with his knowledge and experience from stock trading, I'm always grateful because it has actually been helpful to me financially. Mr. Nicholas. who help me in the trading with his winning streak strategies. Reach him via ,Instagram @nicholas__fxtrade he also gives the best advice on anything concerning trading.
How much is charged for this service?
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.
For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $875k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
As a new investor it's always great to hear from a person who has gone through all the difficult times and come ahead of it. What are some strategies i can employ to be successful?
She's known as “Rebecca Nassar Dunne”. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 62 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Your allocation looks solid. Consider dollar-cost averaging & dividend reinvestment. I suggest you consult with a financial advisor for guidance.
A financial advisor could really help you re-adjust and identify blindspots that you yourself do not notice, like mine did in advising me during COVID on how the pandemic will shape things, and I made it out big and still make up to at least 20k in dividend per month.
Wow, that's incredible. Could you recommend who you work with? I really could use some help at this moment please.
Amy Desiree Irish is the licensed advisor I use. Just search the name. You’ll find necessary details to work with to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
A 401(k) can be a valuable retirement planning tool, but its effectiveness depends on various factors, including individual financial goals, investment options, and employer matching contributions.
That's true. My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured
I have been advised on that. Finding one who understands what I want and can work with me to achieve it is very important to me. Do you have any recommendations?
My CFA, JOSEPH NICK CAHILL, is a renowned
figure in his line of work. I recommend researching his credentials further online
I searched for his full name online, found his page, and sent an email to schedule a meeting. Hopefully, he responds soon. Thank you
Money is very important no one wants to leave the money making business. for me, As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
I'm still at a crossroads deciding if to liquidate my $338k stock portfolio. With Roth IRA, the money you are contributing has already been taxed. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, Not sure how much to contribute.
Yes, you are right. it's been a brisk tailwind for investors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financial advisor.
Please can you leave the info of your lnvestment advisor here? I’m in dire need for one.
“Sonya Lee Mitchell” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
I recently adjusted my Roth IRA to 50% in SCHD, 25% in SCHX, and 25% in SCHG. For my Roth 401k, I went with 70% in Vanguard's S&P 500 Index, 20% in the Vanguard Growth Index, and 10% in the Vanguard International Index. My goal is to grow my $350k to over $1 million within the next three years.
80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.
Why is everyone concerned about out living their money? You need to scale back if you need to and get in some dividend paying instruments, don't ever touch your principle, that's financial suicide.
Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$3.3m Less than 3 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Kudos to my advisor.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years,but I've stuck with *MONICA AYAKO VOS* for about four years now, and her performance has been consistently impressive.
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. I retired with about $650k in my 401k.
People don't really know this, 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
I completely agree; I am 66 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, i didn't achieve all this on my own, i did it with the help of a Financial advisor. Just do your due diligence to identify a fiduciary one and the rest is history
this is exactly how i wish to get my finances coordinated ahead or retirement. Can you recommend the financial advisor you used to get ahead?
Do your due diligence, and be on the lookout for one with strategies to help your portfolio maintain an unwavering and progressive growth. " Marisol cordova * is responsible for my portfolio success, and I believe she has the qualifications & expertise to meet your goals.
This is useful information; I copied her full name and pasted it into my browser; her website popped up immediately and her qualifications are excellent; thanks for sharing
I live off dividends and it can definitely improve your wealth if you reinvest them to buy more shares, creating a snowball effect that allows your investments to compound over time. It's one of the most passive and effective ways to build an income stream. Steady growth can be truly inspiring! Seeking best possible ways to grow $500k into $1m+ before retirement in 5 years
Your allocation seems well-diversified. To take it to the next level, explore dollar-cost averaging and dividend reinvestment. However, it's essential to consult with a financial advisor to create a tailored plan aligned with your unique goals, risk tolerance, and retirement timeline.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation
Amy Desiree Irish is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800k
Mind if I ask you to recommend this particular coach you using their service?
My CFA ’Amy Desiree Irish’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
As an investing enthusiast, I've kept aside a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being propaganda. Is this a good time to buy stocks, or do I wait for the crash?
The stock market can appear as a bewildering cauldron of fake news for new investors. I would advise using a CFP, giving him/her 2/3, and then investing the 1/3 on your own, but only if you have time to track stocks and educate yourself.
@@RodericksCurrys The issue is people have the "I want to do it myself mentality" but are not equipped enough for a crash and, hence get burnt. Ideally, advisors are reps for investing jobs, and at the first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
@@PaulsByarses Congrats! The market to me is like a lucrative chess game, incredibly difficult to outperform, it's all about understanding how the world moves, its history, and psychology... mind disclosing info about your CFP? I'm quite curious.
@@AuerbachsPettises The beauty of MARGARET MOLLI ALVEY approach is her dual focus: while aggressively pursuing profit opportunities, she's equally tenacious about shielding investors from potential pitfalls. It's a balance few can achieve.
@@PaulsByarses I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you.
While your 401k and IRA account would likely continue to grow even after you stop contributing to it, that growth might be limited by the Market, your personal plans and also other factors. For this I see need for annuities. I still will like to know how to compound $2m and above in retirement without holding cash.
Bond and other fixed income asset if properly managed could produce the yield needed to provide solid income for retirement. The importance of a continuous wealth accumulation and ensuring financial stability is why boomers turn to advisors in retirement planning.
It is very important to be proactive and also consider diversifying assets to manage risk especially in uncertain economic times. The ability to identify and mitigate potential risk on my assets is the reason I delegate my day-to-day investment activities to trusted advisor ever since I had a major step down amidst rona-outbreak in 2019. Now I am close to retirement and my goal of $1m retirement funds even after other investment is 95% sure.
It is important to consider a financial planner early, before the last year of retirement. I am currently working with a financial planner called Jason Herman Pierce. I really appreciate his cutting edge financial strategies. It really works for me. His vast knowledge of international market and tax implications allow us to moderately diversify my investment portfolios, minimize tax liabilities and access new markets with potential high returns. And I am two year from retirement and my financial goals is secured.
Please how can I get in touch with the advisor guiding you. I am close to retiring and I didn't make proper planning and investment for retirement. Thinking about now scares me. I have to start somewhere. It is better late than never.
@@HarperScott-pk6uk
His name is Jason Herman Pierce. You can google him via your search engin to get information about him. I am sure you will be fine.
Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as stock, EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE
consider investment planning, learning from a well experienced advisor is invaluable
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
You seem to know the market better than we do, so that makes great sense. Who is the guide?
“LAURELYN GROSS POHLMEIER ’’ 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 sent her an email and i hope she responds soon. Thanks
My spouse and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well..
My advisor is Sharon Lee Peoples. You can look her up online..
Hello! Sharon Lee Peoples is my consultant. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online.
Her name is “Sonya Lee Mitchell” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
My retirement account has gone down by 13.7% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.
If you want to rebuild your retirement by yourself, without the help of a partner, I will tell you it is near impossible. Even NewRetirement and co can’t do the job of an FA with expertise, a large following/client base and experience. Vet and hire one and begin to develop a rapport.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
How can one get to interview advisors? And what questions should you ask?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
A minimum of 10%of your income can generate a greater value depending on your age and salary level you just need to calculate it so you can see the difference
One may ask how can I even calculate this to get to the exact interest level I actually was at that same state but thanks to a Bianca Harley Doran a professional who guided me through the process
I was very fortunate to take the same process and after my plan was completed I was satisfied with the interest flow I got it is a good trial
Sincerely if one can even increase the percentage is still for the best .my percentage as at that time was 30% I was so pleased because I had listened to Bianca Harley Doran,she is actually doing a very good job. currently the Interest is still paying .
Retirement plan is a vital thing and should as well be taken into much consideration,this is a wow
Wow thanks so much for this good news and referrals I will contact her @Bianca Harley Doran for more explanation.
After investing from my salary of 350k for 4 years, I've only made about 8% total, or 2% per year, which my friends say is very low. My employer 401k of $220K returns about 4%. What would you advice to do with my portfolio for improved returns?
@PapiChulo-t1s The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.
@PapiChulo-t1s The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, Financial Consultants are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded massively in ROI, summing up to 7-figures as of today.
@PapiChulo-t1sMy dear husband passed away in 2021, and I have around $400K from his life insurance just sitting in a bank account, earning nothing. I was advised to invest it through an advisor, and in just six months, I achieved over 80% capital growth, not including dividends. Highly recommended!
@PapiChulo-t1sThe key is diversification. Personally, I delegate my day-to-day investing to a license advisor, cos my job doesn't permit the time to analyze stocks myself and thankfully, my portfolio has now 5X in 5 years, just about 10% shy of $1m. Stay positive friends.
The key is diversification. Personally, I delegate my day-to-day investing to a license advisor, cos my job doesn't permit the time to analyze stocks myself and thankfully, my portfolio has now 5X in 5 years, just about 10% shy of $1m. Stay positive friends.
A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can take advantage of compound interest and potentially grow your retirement savings overtime?
In times like this it is better to seek help from a professional as such key decisions are better guided by experts with market experience.
That is exactly the reason I stopped trusting the financial advice of TH-camrs; in the long run, I only end up with a jumbled collection of stocks and bonds. Whereas all I needed to earn over $350k in less than two years was guidance from a true market expert.
That's a very impressive return, You must have a good idea of stocks. How did you go about it?
Annette Christine Conte is the licensed advisor I use. Just search the name. You’d find necessary details on the web to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I am currently working abroad, but I will be returning to my home country in the near future. I am a landlord. I invested in a property at the age of 22. The value has skyrocketed and is being rented. I will live off the rental income I receive and live with my elderly parents for the time being. At 60 I can withdraw from my retirement (401(k)). Have savings and be eligible for an Australian pension at age 63. In the future, I may downsize, sell the property and buy a cheaper property and add the money left over from the sale to savings. Lots of options for me. The way I see it, if you have a million dollars at any point, it would be enough to build a portfolio that would pay you between 50,000 and 70,000 in dividend income.
I've been saying the same thing for years as you get older time gains value and money loses value. I retired at 62 and moved to the Philippines after recovering from a workplace injury. No stress, no rent/mortgage/debt, it's cheap to live here, eat healthier and the wife here treats me like gold. It's not just about saving. To optimize financial results, individuals may seek the guidance of a qualified financial advisor who can provide personalized advice and strategies to minimize expenses and maximize income.
@@Americanpatriot723 I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
@@Ammo-Hoarder This is exactly how i wish to get my finances coordinated ahead or retirement. Can I get access to your advisor?
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "JILL MARIE CARROLL" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
@@Ammo-Hoarder This is useful information; I copied her full name and pasted it into my browser; her website popped up immediately and her qualifications are excellent; thanks for sharing.
A couple of years ago I considered getting into a Roth IRA and 401k without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. A few years down in, I truly cannot stress enough how helpful experts in this field are! Great video brother.
I found out that investing is not rocket science. Jonas Herman is the brain behind my success. I've gotten into a plethora of assets with $43k spread across stocks (index funds) for the short term etfFs, and Roth Ira for the long term. Now I sit back, and just reinvest at intervals while I handle my other businesses.
Sounds like I need help so bad. To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward.
People often mistake hubris for actual knowledge in the finance sector and I don't even blame them because there's an influx of false info on the internet today. Unfortunately, it hampers rational decision making. He is one of the bright ones, providing me with a great deal. Indepth investment strategies are just one of the many components.
I just clocked 48 and I'm hoping that it's not too late for me. Can you introduce me to him?
Hermanw jonas that’s his gmail okay
Before I retired, my 401k had a match and a Roth option. That was a good investment for me. I also maxed out my regular Roth and I’m happy with that investment too.
That is great! However, I advise people never to forget the diversification principle, make sure to diversify your investments so that when another is down, the other will be up. You can do so by getting an experienced specialist whose platform has diverse investment choices to choose from. By doing this, you give little room for regrets and perhaps gain more.
@frederick higson Funny enough, I can honestly relate. I don't know if I am permitted to drop this here, but do run a check on Sandra Yvonne Webster or Sandra .Y. Webster Finance. Was in the news alot in 2020.
@@kathleenstoner.n7499omg PLEASE help me I will give you anything what do you want my bank info? Email and password? 😂😂😂😂😂😂
My $2m retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 22 years of working hard.
Do you plan on retiring before 59?
That is what determines it for me. I switched to cash flowing assets because I wanted to retire early
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
I must admit that she seems to be extremely knowledgeable, so thank you for sharing. I looked through her resume after seeing her website, and it was rather remarkable.
You can start at any time, but it works best if you factor it into your financial planning as early as possible.
That’s the best way to ensure a safe, secure and fun retirement.
It is never too early or too late to start retirement planning.
The fun part is why it makes sense to pay attention to the serious and perhaps boring part.
Take the chance to invest in a 401(k) or similar account if your employer offers that option.
Remember, if the company offers an employer match and you don't sign up, you're just giving away free money.
If your work doesn't match your 401k, open an IRA and give yourself better options. A 401k usually has limited options. The match is what makes it better.
I agree, match was fantastic for me.
IRA has a low annual limit though. Not that you shouldn’t have one but you won’t end up with more than like $1M which will probably just be like a nice house and some walking around money one day
The match is free money
@@FallicIdol Unless there's a vesting schedule. Then there's an opportunity cost with that money.
@WorldFlex 401K offers tax advantages with higher limits
They need to teach this stuff in high school. People don’t know how to manage money and that knowledge should be sacred. It’s not because we live in a classist society.
They intentionally don’t teach it, otherwise nobody works at McDonald’s or Walmart
It depends on where you go to school.
Many years ago the school district I attended actually taught a course they called civics. It included this.
@@sowhat6025 Umm...don't be stupid. You make it sound as if it is a conspiracy to keep people unaware....
Nothing is stopping parents from being parents and raising their own kids.
I am in my mid 40s, haven't begun my retirement plan and want my financial portfolio to be set to where I no longer have to worry about having enough financially. I am looking for your help please.
You don't really need much help, all you need is the assistance of a financial advisor.
@@arthurhughes6232 I totally agree with you. Get yourself a good financial manager and that is it, you are good to go.
If you are looking to begin your retirement, we have the best recommendation for you. Same one we used in setting up our retirement account.
I recommend my financial portfolio manager to you.
Her name is *Leticia Zavala Perkins* .
Buying stocks might seem easy, but picking the right one without a solid plan is tough. I've been trying to grow my $100K portfolio, but the tricky part is not having clear plans for when to buy and sell. Any tips on this would really help.
@WaynePhilip89 I agree. From my own experience with an investment advisor, I've got $1 million in a diverse portfolio that's growing fast. It's not just about having money for stocks; you need to know your stuff, stay determined, and be resilient.
@WaynePhilip89 VICTORIA CARMEN SANTAELLA is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Get an index fund, like the S&P 500, which is basically a collection of the 500 largest caped U.S stocks. That way you don't have to figure out what stocks to put your money in and then you have a diversified portfolio. Lastly, Don't try to time the market, that's probably one of the worst things you can do, and is how a lot of people get killed in the stock market. Instead invest your money in an index fund and let it sit the next 5 to 10 years without touching your initial contribution and you should see your 100k portfolio grow at a decent rate of around 8 to 10 percent a year.
One of the most briIIiant investing advice i have ever gotten on youtube came from watching an interview with Julianne Iwersen Niemann on CNBC. Indeed, A solid investment strategy is like a well-planted tree-it can withstand storms and still grow strong
That's great advice! Julianne Iwersen Niemann's perspective on investments as a long-term growth strategy, much like a well-planted tree, is a solid analogy. A good investment strategy should be resilient enough to endure market fluctuations while still growing over time. It's essential to have a strong plan that balances risk and reward, much like cultivating a tree that thrives even in tough conditions. Working with a seasoned expert like Julianne can help ensure your financial decisions lead to sustainable growth.
Mind if I ask you recommend this particular professional you use their service? i need all the guidance I can get.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 40+ years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
As a soon retiree, keeping my 401k on course is my top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner or be working with one
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
Who is the coach that provides guidance for you? I urgently require assistance; my stock portfolio is stagnating, and I need investment advice for retirement.
*Marissa Lyn Babula* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
If you don’t want to give a pension, the least you can do is match 401k contributions.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@@stephenpotter21 I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
My advisor's name is KAITLIN ROSE STERNBERG, and she has years of experience in the financial market.
Why does this comment match the comment above? A lot of fucking scam artists in these comments.
Interesting video I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
I’ve been worried sick about the current state of my portfolio, who is your advisor?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sonya Lee Mitchell’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thank you so much, this is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon.
I select mutual funds that are indexed (low turnover, low fees, and usually beat 'actively managed' funds)
and also REAL ESTATE investment if the 401k offers it. They do really well, mostly. Just need to check their history of returns as with anything.
To achieve a secure retirement, aiming to save at least 15% of your income in a 401(k) is advisable. Online tools can assist in calculating the best savings strategy for you, considering factors like age and income. Consistently saving this percentage can help build your retirement fund effectively, thanks to the benefits of compound interest.
For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $875k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@@ChrisDERUNNER That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
@@EricLamptey-v1p *Cynthia Alexandra Jackson*
“Cynthia Alexandra Jackson” a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Market declines, soaring inflation, a significant increase in interest rates by the Fed, and rising Treasury yields all point to additional losses for portfolios this quarter. How can I profit from the present market turbulence? I'm still debating whether to sell my $125k ETF/Growth Stock portfolio.
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a coach or other professional for advice.
@@geraldantonio3160 Yes, I have been in touch with a coach ever since the outbreak. Today, investing in hot stocks is quite easy; the difficult part is deciding when to buy and sell. With an initial starting reserve of $80k, my adviser chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@patriciamartin10 Stacie Kristal Weber, my financial advisor, is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field.
The thing that led me down this path of videos is exactly what this guy is going through. Once I dug in to my 401k I found out I had far better options than the safe option the company had chosen for me.
Most people don't realize that there are other options. At my previous job I told people about other options and literally no one knew that those other investments existed. People's returns went up big time.
What other options?
Yes what other options
@@ramonruiz9126 large cap growth stocks, dividend growth stocks, reits etc
@@Kinosis79 can you explain more?
If your 401K has bad funds or not enough, or perhaps the fees are too high and there is no match, switching to a ROTH IRA and using broadly diversified low cost index funds would be the best option.
No dude. Roth ira has a low yearly cap. You need them both and max them out
@@sampson7941 so you saying you only working for the rest of your life just to max out both retirement accounts? Sounds miserable 😂
As an investing enthusiast, I've kept aside a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being propaganda. Is this a good time to buy stocks, or do I wait for the crash?
As for whether now is a good time to buy stocks or wait for a crash, it's important to remember that trying to time the market can be quite challenging. Instead of trying to predict market movements, consider focusing on a long-term investment strategy that meets your financial goals and risk tolerance. The dollar-cost averaging method, which involves investing a fixed amount of money on a regular basis, can also help mitigate the effects of market volatility. Ultimately, the decision to purchase stocks should be based on your personal financial situation and long-term investment plan
Never buy at the top
I learned this lesson the hard way! Do your own homework. It’s a lot of work but you’ll be so much better for it. Don’t rely on anyone else for something as important as finances!
Well said
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Nobody consistently will make 30%. At best, you can get 5-6% div yields from Verizon or AT&T.
How to retire by 40. Step One: Get a high income skill that pays according to your skills not per hour. Step Two: Cut your expenses and live below your means. Step Three: Save and invest most of your money. Shoot for saving 20-50% of your income if possible. But if you can only do 10% then do that. Step Four: Grow your knowledge so that you can do better in personal finance and investing.Step five:Get a Financial advisor(obviously) Step six: Let time work for you. Start as early as possible, every year makes a huge difference. "The best time to start investing is yesterday, the second best is today."
impressive. I myself am pretty much focused on building my dividend portfolio.. it's pretty slow but i'm in for the ride!!
I took a trade this morning and I literally said "this is not trading like a spoiled brat lol
hi i'm new to this please any advice for a retiree who would like to make huge ROI from a business?
@@robertthurmond8161 well i have two advices1) Read The Millionaire Next Door byThomas J Stephen. 2) Use a professional investment strategist/ Financial adviser. you can use mine i found her on a webinar on the F.I.R.E movement, you can look her up, her name is Lucy Maria Koss
Marry me?
I’m doing well so far, approaching retirement with around $800k in savings. Shifting from wealth accumulation to spending can be daunting, especially with high inflation. After maximizing contributions to my tax-advantaged retirement accounts, what should be my next step?
In my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
Could you possibly recommend a CFA you've consulted with?
Her name is Rebecca Nassar Dunne can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
We had a very limited 401k. The funds always under performed in their categories. So many complained they changed the company and allowed to select our own Funds and ETFs..
Yes, the plan provider was chiseling you guys, most likely with the employer’s consent and possibly with their complicity.
Most people spend more time planning their vacations than they do planning and understanding their finances. This guy if most people.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my 1m portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my money goals?
remember you are in for the long haul, keep contributing! however I'd consider financial advisory at this point of economic uncertainty
Generally speaking, a good number of people discredit the effectiveness of financial advisors in planning for retirement, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
She goes by ‘’Kristin Amber Landis" I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Come on man, you can’t be this dumb if you’re already saving this well… If your portfolio tanks completely enough for over 5ish years causing your retirement to completely be derailed then SHTF and we got bigger issues. You’re gonna be okay just keep them contribs going.
3:11 that's important to remember, because a 401k isn't the investment it houses the investment!
@Austin Duke I agree!
same for IRA, 529, 403B, Roth, and believe it or not HSA.
It's amazing how people are so clueless about 401k and compound interest. Compound interest is like magic.
I've been doing it, but it doesn't seem to live up to the hype unless you start with a decent amount of money.
@@Nepthu Yep, time is your friend
@@Nepthu Im 36 been contributing to my current plan for 12 years. I earn decent money but nothing crazy. From the start of the year mine is up 10% for the year, that is 15k in my account. That certainly is worth the hype.
@@Nepthu Like Ramsey says, increase in value doesn't go up diagonally. It curves up and end up 20X, or more if you consistently keep up with your contribution and with a good investment. Time is your friend. Just put your money in the index fund that your company offers. You don't need to put it in other investment options like Ramsey says. In your IRA, you have more options in the type of investments you can choose.
Albert Einstein called compound interest the 8th wonder of the world. A little amount of money becomes a lot over time.
Dave thanks for explaining what I’m looking for in my “cookie jar”, makes total sense. God bless the work u do
He was probably invested in a target date fund. Unless you’re self-employed, a traditional 401k is your best bet because its contribution limit is higher than an IRA. But it’s tough when your company’s plan doesn’t offer many good mutual funds in which to invest.
Well, I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered and I don't know where to go here out of devastation.
@JerryDavis-gu6ww What did you invest in? Who is the advisor that guides you? more info on this if you don't mind.
@JerryDavis-gu6ww Thanks for this. Found her and looked through her credentials before contacting her. Once again many thanks.
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.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalised guidance and help you make informed investment decisions.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring soon and I might need some management on my much larger portfolio. Don't want to take any chances.
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
We experienced the peak of our era, and now it is gone. Recession is tanking everything including 401K. My retirement equities portfolio of $750K is in the reds. I keep losing because of inflation. This world will fall to the corrupt rulers in the same way that Rome did. I'm sorry if you're thinking about retiring and you're worried that your pension won't be enough to meet the rising cost of living. Horrible foreign policies everywhere, bad regulatory policy, bad fiscal policy, and bad energy policy.
For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.
I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000
Mind if I ask you to recommend this particular coach you using their service?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
A NICE VIDEO, EVERYONE NEEDS MORE THAN THEIR BASIC INCOME TO BE FINANCIALLY SECURED. THE BEST THING TO DO WITH YOUR MONEY IS TO INVEST IT BECAUSE MONEY LEFT IN THE BANK ALWAYS END UP BEEN USED ONE WAY OR THE OTHER WITH NO RETURNS. I USED TO BE A VICTIM OF SUCH, NOT ANYMORE. I INVESTED AND MAKE STEADY PROFITS.
The pandemic has taught everyone the importance of having multiple stream of income, unfortunately having a nice paying job doesn't mean you are financial free or secured.
Investment is that tiny line that separates the rich from the poor. The wise from others. I can proudly say I am wise man today because I can provide for my family through my investments.
Ever since I stopped working with my former employer, I have been surviving through my investment with Joanna, am so glad I invested when I did, months ago I was able to raise money to start up my own firm.
You know things are bad when Dave has to break out the cookie jar scenario.
It's an ok example I think, all he really had to say is that the 401K is the legal framework for it, but the options inside of whatever investment you want is where it gets fun.
@@kbanghart Do you really think that the guy calling in would understand your use of the language if he didn't understand what difference between 401k and the individual investment was? I think not.
@@1flash3571 I think he could.
@@kbanghart he said that at first but the gentleman didn't seem to understand. Then he used the cookie analogy to simplify it.
@@kbanghart he doesn't understand investments. It's obvious by the lead question he asked.
I recently viewed an impressive video that prompted me to reflect on my experience with a financial adviser recommended by a colleague. I started investing with less than $100,000, and within just two months, my portfolio grew to $234,800. I reinvested a significant portion of my profits, which has led to consistent earnings over the past year. Recently, I also purchased my second home at the beginning of summer.
Hi, I’ve had to explore additional sources of income after being retrenched, and managing my trading and investments is challenging with a new baby at home. I'm wondering if I should take a break from the market to focus on other priorities or try to engage whenever I have free time. Is trading best approached as a continuous process, or is it wise to step back for a while? Thank you!
@@MicheleTheodore-p9n
If you don't have access to an expert like Maria Christine Jouclas, it’s unwise to quit your job to focus on trading. Evaluate your options and seek advice from trustworthy sources before making such a significant decision. Using advanced AI tools or automated trading systems can help manage your investments while you keep your job. Based on my experience, Maria is reliable and knowledgeable in the complexities of trading.
@@BertramGilbert-d4z I would appreciate that very much. Thank you for your consideration.
@@MicheleTheodore-p9n The name to reference is Maria Christine Jouclas.
@@MicheleTheodore-p9n Search for her name on the page.
I hate biting into a mutual fund and finding out those are raisins and not chocolate chips.
As a passive investor, is it wise to buy market tracking index funds and ETFs from companies like Blackrock, Vanguard and State Street, even when they're at all time highs? i want to invest around 600k for retirement
These funds offer diversification, low fees, and long-term growth potential. Given the significant amount you plan to invest, consulting with a financial advisor can provide personalized guidance tailored to your specific situation and retirement goals.
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
pls how can I reach this expert, I need some investment guidance
Victoria Louisa Saylor is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Wow, her track record looks really good from what I found online.i just filled the form and scheduled for a call. Thanks to you
if there is no match and the fund expenses outweigh the tax benefits, then you should invest outside of your company's 401k
True, but when will the fund expenses outweigh the tax benefits? Taxes are at 15% for most people-there’s not 401k in the world with more than 15% in fees.
You decide to what fund you want your retirement money to go. Company/organization 401 do have benefits, even if they don' match your amount. For example, if you are sued, your retirement funds are protected in the company plans, so they stay safe. There are other perks, too.
It is better if you invest that same amount in your IRA, max it out each year and then put the rest into your 401k. IRA accounts have more options in different type of investments that 401k don't offer. Also, if you change jobs, you don't have to move your money from the IRA account but you might have to with your 401k to an IRA, or to your company that you changed to. If you change jobs more than once, then you have to move it once again. So, in that case, just move it to your IRA Account each time you change jobs.
@@1flash3571 If you change jobs you do NOT have to move your money. My portfolio is proof of that. And the choices under company plans have been more than adequate for me. In the end it's a decision the investor/worker has to decide.
I work for an union and my company matches 6% I feel pretty lucky
My company matches 10%
@@SlimPeas23 I never herd of that where you work?
@@mikehurt3290 my company has a pension
UPS teamsters pension
Mine also does 10%, maybe we work for the same company. ;-)
Here in Canada you contribute to the 'Canadian pension plan' by default as an employee.
You're guaranteed to lose money on your investment.
Don't assume the government should ever do a good job of investing or getting those returns back to you (his suggestion about perhaps getting a guaranteed 4%)
JMAC LIVES agreed. This guy is so financially clueless.
We have Social Security in the US, and it SUCKS!! I wish we could have an option not to contribute to it and put money in something else. Employee pays in 6.2% of income and the employer pays 6.2% of income, so that’s 12.4% of income that goes in Social Security. I make 90k a year at the age of 30, so the contributions are $12k a year almost.. but yet when I retire at the age of 65, assuming that I keep on making 90k a year for the next 35 years, I would only get $4k a month!!! And when I die, all of that contributions are gone. What a ripoff!
The government cannot do a anything better than private enterprise can. ANYTHING!!
I don't do any government "savings" that tells me to defer my taxes for later .. and where I can't get my funds unless I meet a certain criteria of rules, whereby I then have to go to my HR and explain to them why I want the money ... and where it's due IMMEDIATELY on no longer being with the company. I pay my taxes upfront and I move it to other places. Just a personal decision. I refuse to justify why I want my funds.
Exactly!!!! Pay your taxes now.... on the seed, do not pay taxes on the harvest after you have spent 30 years building a nest egg. Taxes are the lowest they have been in 30 years. The deficit is going to be 30 trillion when the stimulus is done. Where do you think Uncle Sam is going to get all this money? They only have one bank...... and that's taxes. Most economists agree that taxes have to go up. There are many more factors involved as well, but something to think about.
Bar and Bell Home Fitness I agree! It’s your money!!!!
Government savings plans and pensions are just another way for the government to control people. If you take money out of your savings plan for a reason the government doesn't approve of, they penalize you. If you leave your government job, you don't get a pension.
That's too bad. While you are so focused on rebelling against any rules or restrictions because you want to treat your retirement savings as a free-access fun money account, you have sacrificed any matching on your contributions you could have received. And if you change jobs you have a valuable opportunity to roll a 401(k) into a self-directed IRA.
The great thing about a Roth IRA is you do have access to your contribution money in the case of a dire emergency. But if you manage your money properly you should have an emergency savings account for the car/house repairs etc that always happen.
This is a Great video, Everyone needs more than there basic salary to be financially secured. The best thing to do with your money is to invest. Money left in savings always end up used with no returns ..
I think the pandemic has taught people the importance of multiple stream of income, unfortunately having a job doesn't mean financial freedom or security
The global pandemic shut many financial institutions from functioning thereby rendering most people jobless & investors lost more than they ever thought of losing.
I've been in the shadows for long now i want to know how to invest.
who would you endorse ?
Vivian Klaine Morgan
I put some money in a Section 457 account (kind of a public-sector version of a 401(k)), and it enabled me to retire two years earlier. My defined-benefit retirement plan is my primary source of retirement income, and it's pretty decent since I put in 41 years of service with the same employer. No complaints here, for sure.
As a complete beginner my question is what happens to the 401k once you leave that job.
@@Brussardjnr I'm not sure about 401(k) plans. But with Section 457s as mine was, they can either remain where they are or if one goes to another job where they have 457 plans AND they accept a transfer from the previous one, they can move with you.
For some perspective here, after reading these comments; Australia has a "Superannuation". By law, the employer has to deposit 9% of each paycheck into your "Super". It's yours, you can self manage it, or give it to a finance company to manage it. You can invest in stocks, real estate, whatever. Self managed supers are effectively trusts, and you can purchase your home and leave it in a self-managed super.
It’s 10% now, and you can salary sacrifice more from your pre tax pay to add to your super.
@@janeeden919and employer will pay one dollar into your super for every dollar you put in super. The limit is 20000 dollars collectively in a year
I love when callers think they can get Dave to deviate from his plan. It's a plan for a reason and it works!
I don’t think that that was what the caller was trying to achieve. He just didn’t select the right option when signing up and he also doesn’t know what a 401K is and how it works. He just needed some guidance to figure it out. We all do. He wasn’t trying to deviate himself from Daves plan but merely understand what to do and what he was doing wrong. Some people want to stick to the plan but just don’t understand the fundamentals. He’ll learn.
Mr. Ramsey thankyou for using the analogy of the cookies that made it easy to understand (for me anyway)
Its definitely good to contribute to both a roth ira and a 401k. Specially if ur company matches ur contribution. And having roth ira also gives u tax free growth. Its best to contribute to both as early as u can
Elsis Castro especially*
r8wells lol yes!
Agree. I have put in 401k when I was young. Now, I am living comfortably after retirement. No stress no worries.
Everyone: Investing is complicated
Dave: COOKIES
Investing is complicated
Dave: Mutual fund let the experts handle it
Warren Buffett: Index funds beat most investing managers
Me: Suncor xd
There's one piece you're missing from this equation. Most 401(k) plans have an investment window or selection of funds to choose from. It is the fiduciary responsibility for the plan sponsor to provide not only funds that preform well, but also do not cost too much. (The fund can preform well but if the fees are high, it can take away from your gain.) Some 401(k) plans allow for you to select funds outside that window but sometimes there is a separate fee involved. Let's also talk about the cookie jar or the record keeper. The record keeper holds the assets and in most cases will do the administration. Once again if the fees are high on that side, it creates an expensive 401k. Make sure your business is benchmarking those fees against their peer group. Lastly, service is very important too. If the advisor is not coming in and giving education to the employees there is a problem. In most cases he or she can not make an investment choice for you, but they can point you in the right direction. Making a recommendation to go into 4 funds is tricky. You first have to see the time horizon and risk tolerance of the investor.
TJ Minc
It's up to the company you work for.
Caller has no idea what he’s talking about. Poor guy needs to read a book.
Actually, most people don’t know anything about their own investments.
SAB FAN That’s just scary
Also has nothing to do with reading a book. Alot of people just don't know the stuff and or can't find the right people to guide them.
A Simple Path to Wealth
At least he's trying to learn. Never too late
0:51 - This does exist... it's called Social Security and we all know how well the government has managed that over the years.
Isaac N Amen.
Social security is not an investment vehicle. Average social security pay is paid to keep you from starving with 12k average annually
the doge I fully understand that but if you look at and consider the consumer price index and inflation index adjustment they apply to it on an annual basis as well as the fact that you are being forced to pay in it essentially acts as an annual 2-4% “guaranteed” growth vehicle as the caller was alluding to. I am not supporting it in anyway but rather pointing out that this “brilliant” government option is precisely why anyone with two brains cells would never want to give their hard earned money to the government to “invest” for them.
@@MrTmenzo Almost $18K is average, Husband, wife and kids, $70K/yr (retired early with adopted kids)
They've been doing a perfectly fine job with Social Security, the main issues have been that people are living longer and that they're depending upon it more. Social Security was never intended to be a 100% retirement, it was meant to be a portion of retirement.
The real problem, tends to be the lack of pensions and the failure of people to plan for replacing the money.
The shortfalls are more or less trivial to solve, just increase the ceiling on the tax and increase the retirement age by some portion of any increased life expectancy.
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Hope you don't mind if I ask you to recommend this particular professional you use their service?
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Most people don't understand most things. The 401k is about as easy as it gets. Excellent program, people are just so impatient and expect to become millionaires overnight. You don't loose money until you sell at a lose.
If your 401k doesn't match its a waste time putting money into that
@@csick11 Gotta disagree, spent a year with a company with no match, my CFP choose the investments, walked away a year later with $44k to roll over to my IRA. So I lowered my taxable income and I added a nice chunk to my future retirement. A match is like dessert, putting your money in the 401k is the meal.
@@hrhsophiathefirst4060 you must be a high earner.
@@JohnDoe-gc1kt We're all limited to $19k per year to divert to a 401k account. An extra $6k if you're over 50yo. If HrhSophia diverted $25k in one year with a $19k increase, then 43% return was achieved. May have been from the March 2020 to now stock mkt improvement, because that is an incredible return
@@jjohnson5014 im a financial advisor no need for you to explain. Have you actually looked at 401k contributions? I have and I can tell you most people don't make enough to contribute enough to comfortably retire. 401k benefits high earners. 19k isn't much for someone who makes 100k but for someone who makes 40k its nearly half their salary BEFORE taxes.
How come Dave is willing to recognize that 4-12% is a huge difference but won’t recognize that the fees on mutual funds will cost you a huge difference?
Why would you invest in those funds?
@@alinatamashevich3354 personally I don`t invest in mutual funds, the closest thing to that in my portfolio is the wealthsimple robo-advisor, it functions similarly to a mutual fund, but with way lower fees, and you can choose a socially responsible fund, which I think is awesome
@@kathryntubridypakenham2743 Good luck with that.
@@alinatamashevich3354 Thanks, its doing well so far :)
Dave is not a feducary. The rub is he always tries to sell his smart investor pros. He gets his cut ( not saying he shouldn't).
Low cost index is where it's at. Like the money guy show says , jack bogle , jl Collins ECT
It's so sad that there are so many people out there who don't understand the financial tools available to them, especially when they can be supremely helpful, once you understand how to use each one. Understanding how each one works can literally change your life that you're living, or planning to live.
If my 4th grade niece can check out and read a 4th grade level personal finance book from the school library adults have no excuse.
Including you ,You once didn’t understand either so shut up
@@younggandlegit1
The key is to understand early starting with basic math in 1st grade.
I had a savings account since 2nd grade and a Schwab brokerage account investing since 10th grade.
Never any debt or financial issues.
@@blackworldtraveler3711 bet you had parents that facilitated those things, if only I had been GIVEN such PRIVILEGE. You knob.
@@Muthurtucker
When I grew up it was common for kids to have a savings account. It was call a Christmas passbook savings account or something like that. It was free to open.
I was working through high school wanting to invest my money and asked my dad. He opened a custodial brokerage account for me since I was under 18 and responsible.
I’m sure he would not have done this if I had your attitude.
It surprises me that many people even at an old age still don't know anything about retirement. Why even give anyone or investment your money if you have no idea what they're doing with it?
With the wealth of free information available now, with just a little effort people can become informed investers. Not sure how to explain why a person would not consider financial education, but many don't invest in there knowledge.
John Smith I was fortunate on two fronts: I grew up listening to people talk about pensions and 401Ks and my job had written information about 401Ks so I could read all about the plan. Recently they began offering webinars that explained about my 401K, its tax benefits and how new legislation affects it. It was really helpful but the presenters could not give advice as to which funds to pick or other financial advice.
The high majority of people do not understand retirement investing, financial literacy. Simply because public school does not teach it. Govt does not want it. They want you to keep working till you can't anymore. They want as many payroll tax dollars as they can get. Sad but true. Life is short invest in yourself. It is up to you. 🍻 Cheers
@@rondellschuyler7074 and with public schools, you have taxpayers who complain about it because they only want their tax dollars to fund basic classes in public schools. They consider financial management to be extras. Not all of them, but son.
My wife does payroll for lla large corporation, and you might be shocked, probably very disappointed in the number of blue collar workers who have no idea what their options are or mean, even if they are shown. My wife also did training for a few years. And sorry to pick on mainly blue collar, but that's where a lot, probably most of it is from.
For any Canadian's digging Dave's info here is a translation. A 401(K) is similar to the Canadian RRSP (registered retirement saving plan). With an RRSP a limited amount of money each year can be put in this "cookie jar, eh" and that amount is deducted from current taxable income. If you make much more than $100K that is a 42% immediate albeit temporary return.
The investment growth (stocks, bonds, mutual funds etc) within the RRSP is sheltered from tax until it is removed. When funds are withdrawn the money is taxed at the current rate which varies given the person's annual income. The money is meant to be withdrawn after retirement when it will draw the least tax as the person likely will be in a lower tax bracket. I am sure I will be corrected if I have not got the comparison right.
I believe a ROTH IRA is similar to the Canadian TSFA (tax free savings account) but I will leave that for another time.
Only thing here in U.S. is many thing the 401k is a checkbook/savings account.
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
@@Petroguest-i4g Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@2024Red-j5t wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
@@Countstep0099 I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with "NICOLE DESIREE SIMON" for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
@@2024Red-j5t I just looked up "NICOLE DESIREE SIMON" online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
"The heart of a teacher" is a line I've heard Dave say a time or two and it's the reason I'm still watching his content.
I’m gonna sell my car to buy cookies now. Thanks Dave!
park the cookies in the cookie jar with the cookie monster in charge...
If you get no company match on a 401k, it's better to use an IRA/Roth. You generally get more choices and lower fees with an IRA/Roth. Once you use up the IRA limit, then use the 401k if you have more to save for retirement.
Works for some people, but if your income goes over about 66K (single) then pretax IRA eligibility starts getting phased out. There are income limits for Roth IRA too but it's something like $139-140K MAGI this year.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Bestjudy001 However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@Kendrawebb-m2f Oh I would love that. thank you.
@@Bestjudy001 Suzanne Gladys Xander is her name .
Lookup with her name on the webpage.
Overall and Most valuable retirement advice is to invest in assets. ETFs and real estate is the reason for my robust portfolio and investment size, I make over €57k after compounding profits. My goal is to build a solid financial statement before 60.
Selling calls and puts and adding more and more money to your account is something that should be taught in school. I wish I knew how to trade stocks 10 years ago, really. But real estate and this strategy is how I have actually become wealthy.
The thing is; I know people who got wealthy by trading stocks and I know many others who lost everything on bad investments. It's the risks involved for me, I can't handle it emotionally.
Nice of you to recommend such a reliable broker. Elizabeth Warren Shaw is an Elizabeth Warren Shaw is a very accomplished trader with several qualifications to her name and ultimately, bragging rights.
As a beginner, I couldn't bear the risk of trading myself so I let the renowned Elizabeth Warren Shaw trade on my behalf because of her profound knowledge and successful track record. It wasn't a bad idea after all because it has been very profitable for me.
Her Cell;+1(3.2.1)5.7.6-5.6.6.9
@@jamesmorgan852 Options Trading is the cheat code for having a successful financial life, trading with the right account manager or software would free you
Without a match, a 401k would drop way down on my list of priorities. Below maxing out a Roth and probably below my individual brokerage account even. I max out my employer match and move on to other ventures.
Yeah, because who want to pay less at tax time?
I’m glad he asked this question, this is my situation as we speak. Dealing with the 1st question.
Does your company’s plan not offer any good mutual funds to invest in? If that’s the case, you should open an IRA on your own.
Matches shouldn’t matter people should look at the performance of the investment options if that if they options are not good than open an IRA.
Trang Nguyen when it comes to mutual funds, I’m clueless.
Trang Nguyen ok thank you
Slim567 Wrong. The MATCH is what matters the most. There is no other investment that can net you 50% or 100% guaranteed returns which is what a match is. Even if you whatever you invested in has zero or even negative gains you still get 50% or 100% of what you contribute. Nothing beats that. Always contribute up to the match first no matter what.
Always good to know the difference between the account type and the investment itself!
I have a 401k with no matching. I put in 10% each check and get paid weekly. I completely understand this guy. It sucks but it’s better then nothing. I work self employed with other jobs as well.
5-6-20
John Smith I also have an IRA that I put $25 a week into. I know it’s not much. I am paying off all my credit cards right now. I am hoping to have that done by next month.
5-6-20
@@AmericanPride1234 I would suggest you stop 401k until they decide to match. Invest that 10% plus the $25 a week into a Roth IRA
The S&P was up over 31% in 2019.
If there is no 401k match, just use a Roth IRA..... There is no benefit to a 401k with no match, unless your Roth is maxed out...
@Joe Hammond Its generally not, Roth IRA is almost always better in the long term. Most 401ks are not Roth.
@@jdm9499 If you have to option to do a roth vs traditional 401k go for the roth. Roth contributions go in after taxes and when you retire and pull the money out you will not pay taxes on that money.
@Joe Hammond 401k is tax deferred where a Roth IRA grows tax free . Roth is definitely better than a no match 401k
@@jdm9499 Roth will grow (compound interest) tax free, better than a non match 401k
My company offers a 401(k), Roth IRA & a Roth 401(k), all with a company match of 4%.
I had been contributing 10% to my 401(k), but since we paid off all our debt I raised that to 15%.
Even a no match still do it ,BUT first look at what options of mutual funds they have if nothing good then do not do it .What it does lowers your taxable income if you leave you take it put it in a IRA that you did research on .
If there is no match there is no reason to have a company 401(k) vs. a regular IRA. With an IRA you can buy many of the same funds for much lower fees, it's worth it to hold your nose and pay the fees for the 401(k) if you get a good match.
I put 6% in my 401(k) and my company gives me an 8% match. I pay $5/quarter in fees to Fidelity and the funds themselves have their own management fees baked in. So, for me it's worth it but if I were to change jobs tomorrow and I didn't have a match at the new place I'd roll it over to an IRA.
@John Smith I think you're missing a couple of details. An IRA is not the same thing as a Roth IRA. IRAs have similar contribution limits to 401(k)s. IRAs, like 401(k)s, have contributions made with pre-tax dollars. Roth IRAs get contributions with post-tax dollars.
@@sharknado523 I don't know that I'd really call a $6k limit similar to $19.5. It can be even less than $6k, depending on your income. There's also Roth 401(k)s as well. They're both useful tools and how you best use them depends on your circumstance.
Great stocks and I just bought in on them, but I'm interested in making a short-term profit, let's say turn a $150K to $ 500K in 6 months, I'd appreciate tips on how what stocks to buy to make this much profit.
@usmansaad526 That sounds great and how do I connect with her?
@RonaldOlson2 Okay I just found her website and left a message for her. thanks.
Dave still pushing that 10-12 percent returns. Sounds great where do I sign up for his class?
Actually over time the S&P 500 has provided returns a little over 10% annually.
RETIREMENT QUESTION!!!!! HELP!!!!
My wife has a 401K ROTH. Her employer matches her contributions into the ROTH account and on her paystub it say the employer match is PRETAX. When do we pay the taxes on the employer match (assuming it has to be after tax for ROTH)?
My teacher 403B sucked. All the investments I could choose from were terrible making 10% ten year returns. There are many other funds out there that make much better returns. My husband in his Deferred Comp had great fidelity funds to choose from making 15% and some more. They don't tell anyone about this when they start their investments. This is why you hear from so many that the stock market doesn't work. It's because they were sitting for years in terrible funds.
He almost slipped and said an Insurance policy. Which I agree with...
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 10 years.I'm retiring at the end of this month at 45, while my wife will retire next year at 40. We currently have 1.7 million in out tax deferred savings..so I don't actually agree with this
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?
@@harleycartley3138 Certainly I do but I can’t just leave her info here, just google her yourself, her full name is Lucy Maria Koss, she has a website and everything so you can reach her from there
impressive
i just reached her. thanks for the info
A 401k, Roth IRA, and your current home shouldn't be the only retirement plan you have. Max out your 401K and Roth IRA, pay off that mortgage, while investing into a diversified portfolio.
Can you elaborate please thank you
@@John-xf7ft which part was confusing? Ill help.
@@JohnDoe-gc1kt Whats a diversified portfolio? Im a freshman in college learning ab this btw
Not sure why you say that since it's what I used. It's possible to have a diversified mix in your retirement accounts.
@@John-xf7ft Putting your money into a mix of diverse investment types that acts to spread investment risk and minimize volatility. A "Don't put all your eggs into one basket" kind of principle.