Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
Agreed! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
I'm 58, and my net worth is approximately $80k, under the median. I have $10k in an emergency fund, no debt, I max out my HSA, and I'm contributing 25% of my income to a 401k. I can increase that percentage each year. I know I'm behind, what can I do to catch up?
Keep up the great work! Better late than never, and your progress is something to be proud of. Stay positive, focused, and committed - you've got this!
You just said you were behind and looking for how to catch up. Max out your retirement accounts first and max your HSA as a last resort. You’re 58, so you can add more to your 401k and Roths in catch-up contributions. HSA is the icing on the cake, but 401k and Roth is the cake. Hopefully, you’re healthy and won’t have to use it as much, because it won’t be an investment vehicle till you turn 65. It's also a good idea to consult a financial advisor to get personalized advice tailored to your specific situation and goals.
I'm 45 and currently my pension is estimated to be $7,000 monthly and expected to increase over the years. And…I get to carry my insurance with me, but I have to work till I am at least 55. I also have a supplemental retirement account that I am maxing out ($23k) annually. I can pull from the account at 55 with no penalty. My goal is to start a Roth. When I was younger, I didn't understand/ appreciate it but now l'm so....grateful. I watched so many Financial Advisors/Retirees over the years who gave good advice and inspired me.
@Barnaby Barry the Average Cal-Pers pension is $35,000 - 40,000 per year. I’m not sure where you got your info from. Yes there are those careers that can give you 6 figure retirement income but obviously that’s not everyone and every career. My Wife and I are Cal-Pers Pensioners. she is at the average from the Local School District. I’m the one who Climbed the Career Ladder to walk away with a much larger Pension from 30 yrs. Of service At a SoCal Municipality. And an absolute Blessing for sure.
I will have 4 different pensions when I finally retire. I already have 2 pension and they both receive cola increase. My next two will also receive cola increases. Without having a solid plan for my future when I was 18 I managed to make the best decision for myself. I’m looking forward to the future.
Retiring end of December at age 63, Pension will be 3 k month. Not sure if I am going to take my SS, probably will wait till least 65 , maybe 67, have a pretty good HSA also. Also decent portfolio as well as decent cash saved
Retirement is more challenging now than it used to be. I've focused on saving rather than investing, and currently, I have about $400K. With inflation on the rise, I’m considering investing in stocks, but I’m not familiar with effective market strategies.
Given the current pressure to prepare for retirement, I highly recommend seeking guidance from a financial advisor. This will help you make more informed investment decisions.
I consistently recommend Rebecca Lynne Buie as my top choice. She is well-known for her expertise in financial markets and has an impressive track record. I highly endorse her services.
Appreciate the content! By the way: I have the SafePal Browser Extension Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). How can I move it to Binance?
I'd like to hear your take for those of that can take a lump sum option. For example, mine is around $275K lump sum payment, or I can get about $1400/mo, less if I take the survivor option.
Comes down to your life expectancy and what other sources of income you have. Personally I'm taking the lump sum. My pension would not have a COLA and I fear inflation will eat away at it over the years. Not that it wouldn't with a lump sum but at least I have options on how to invest/grow that.
With a Roth IRA, contributions are made with after-tax dollars, meaning you can withdraw your contributions at any time, tax-free and penalty-free. Additionally, any investment gains can also be withdrawn tax-free and penalty-free upon meeting certain conditions. I’m currently debating whether to continue contributing or to liquidate my $338k stock portfolio-I'm at a crossroads.
For the average investor, navigating investment strategies can be challenging. In reality, professionals with the right skills and knowledge often excel in this space.
In my view, the rise or fall of the U.S. dollar can have complex effects on investments. However, it’s never been easier to grow your wealth by tapping into a diverse market with the help of a top-tier portfolio advisor.
Or simply move to California and get a CALPERS pension-but you have to work 30 years-all career fields-$100K annually w COLA for life! Unless Disneyland and Hollywood closes down your good!
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Agreed! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
nice! once you hit a big milestone, the next comes easier. How can i reach him, if you don't mind me asking?
he's mostly on Telegrams, using the user-name
I'm 58, and my net worth is approximately $80k, under the median. I have $10k in an emergency fund, no debt, I max out my HSA, and I'm contributing 25% of my income to a 401k. I can increase that percentage each year. I know I'm behind, what can I do to catch up?
Keep up the great work! Better late than never, and your progress is something to be proud of. Stay positive, focused, and committed - you've got this!
Stop maxing out your Hsa Bruh! and max out your 401k and retirement accounts.
@@johnketh-n9v Why? The contributions to my HSA, the earnings and the withdrawals for qualified expenses are all tax free.
You just said you were behind and looking for how to catch up. Max out your retirement accounts first and max your HSA as a last resort. You’re 58, so you can add more to your 401k and Roths in catch-up contributions. HSA is the icing on the cake, but 401k and Roth is the cake. Hopefully, you’re healthy and won’t have to use it as much, because it won’t be an investment vehicle till you turn 65. It's also a good idea to consult a financial advisor to get personalized advice tailored to your specific situation and goals.
My employeer phased out their pension plan several years after I hired on. I am very lucky that I got it.
Thank you.
I'm 45 and currently my pension is estimated to be $7,000 monthly and expected to increase over the years. And…I get to carry my insurance with me, but I have to work till I am at least 55. I also have a supplemental retirement account that I am maxing out ($23k) annually. I can pull from the account at 55 with no penalty. My goal is to start a Roth. When I was younger, I didn't understand/ appreciate it but now l'm so....grateful. I watched so many Financial Advisors/Retirees over the years who gave good advice and inspired me.
My fed pension is 62k net, including health insurance eduction, it’s great, the pension fund is in great shape solvent for at least the next 75 years
@Barnaby Barry the Average Cal-Pers pension is $35,000 - 40,000 per year. I’m not sure where you got your info from. Yes there are those careers that can give you 6 figure retirement income but obviously that’s not everyone and every career. My Wife and I are Cal-Pers Pensioners. she is at the average from the Local School District. I’m the one who Climbed the Career Ladder to walk away with a much larger Pension from 30 yrs. Of service At a SoCal Municipality. And an absolute Blessing for sure.
I would say most private employer pensions do not have a COLA. I'm curious to see data on that.
I will have 4 different pensions when I finally retire. I already have 2 pension and they both receive cola increase. My next two will also receive cola increases. Without having a solid plan for my future when I was 18 I managed to make the best decision for myself. I’m looking forward to the future.
Collecting a police pension is 13k a month. COLA average of 3% a year. About to collect a 2nd pension but only 1k a month. Cola dependent on CPI
Retiring end of December at age 63, Pension will be 3 k month. Not sure if I am going to take my SS, probably will wait till least 65 , maybe 67, have a pretty good HSA also. Also decent portfolio as well as decent cash saved
Retirement is more challenging now than it used to be. I've focused on saving rather than investing, and currently, I have about $400K. With inflation on the rise, I’m considering investing in stocks, but I’m not familiar with effective market strategies.
Are you planning to retire before 59? That's the key factor for me. I transitioned to cash-flowing assets because I wanted to retire early.
Given the current pressure to prepare for retirement, I highly recommend seeking guidance from a financial advisor. This will help you make more informed investment decisions.
Do you have any recommendations? I’m looking for a CFP to help grow my retirement account.
I consistently recommend Rebecca Lynne Buie as my top choice. She is well-known for her expertise in financial markets and has an impressive track record. I highly endorse her services.
I looked her up online and have already sent an email. I’m eager to hear back soon.
Appreciate the content! By the way: I have the SafePal Browser Extension Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). How can I move it to Binance?
I'd like to hear your take for those of that can take a lump sum option. For example, mine is around $275K lump sum payment, or I can get about $1400/mo, less if I take the survivor option.
Comes down to your life expectancy and what other sources of income you have. Personally I'm taking the lump sum. My pension would not have a COLA and I fear inflation will eat away at it over the years. Not that it wouldn't with a lump sum but at least I have options on how to invest/grow that.
With a Roth IRA, contributions are made with after-tax dollars, meaning you can withdraw your contributions at any time, tax-free and penalty-free. Additionally, any investment gains can also be withdrawn tax-free and penalty-free upon meeting certain conditions. I’m currently debating whether to continue contributing or to liquidate my $338k stock portfolio-I'm at a crossroads.
For the average investor, navigating investment strategies can be challenging. In reality, professionals with the right skills and knowledge often excel in this space.
In my view, the rise or fall of the U.S. dollar can have complex effects on investments. However, it’s never been easier to grow your wealth by tapping into a diverse market with the help of a top-tier portfolio advisor.
Or simply move to California and get a CALPERS pension-but you have to work 30 years-all career fields-$100K annually w COLA for life! Unless Disneyland and Hollywood closes down your good!