---------------------------------------------------------------- *_PLEASE STOP USING Spreadsheets!_** It falls way short optimizing every retirement factor* Retirement Tool Link I reference and use and recommend -- Boldin (old name: New Retirement) Free 2 week trial. $120/yr after. You will buy this after trying (I have purchased for 5 years ). USE THIS LINK Please ---- go.boldin.com/joekuhn -------------------------------------------------------------------- *Need a CFP to create your professional retirement plan for a one time fee?* I use Neil Fortwendel (812) 471-2492. Neil created my plan. Plan updates as you wish for a smaller fee. Check Neil out on Facebook and LinkedIn. Average Cost: $3500 - includes 12 months coaching!
---------------------------------------------------------------------- *DO NOT GO IT ALONE!!!!!!!* *Money Pickle - FREE! use link to set up a FREE 45 minute dialog with a Financial Advisor* No obligation. Get answers to your specific questions. Get an expert to look at your plan. quiz.moneypickle.com/?Joe%20Kuhn&TH-cam&Direct&CTA --------------------------------------------------------------------- *Want a CFP to review/evaluate you plan for $300?* Donaldson Capital Management now provides this service to my viewers LINK: contact.dcmol.com/financial-plan-review_joe Promoter Disclosure: leandrivenreliability9-my.sharepoint.com/:b:/g/personal/josephkuhn_leandrivenreliability9_onmicrosoft_com/EYaY6c8hzaZFqEEQeUeQA8sBp0Y5cA7OIZrBA9V4-6tYQw?e=P8ieDx ----------------------------------------------------------------------- Most Popular VIDEOS *Health Insurance before Medicare* th-cam.com/video/KPs4RXOOS64/w-d-xo.html *Demo of Boldin (NewRetirement) Software* th-cam.com/video/IO-D2TCYzSA/w-d-xo.htmlsi=d5lt1JMCv9Izstt1 *You Cannot retire with these 4* th-cam.com/video/4qlCbfizoaI/w-d-xo.html *2 shocking surprises in retirement* th-cam.com/video/pCDR29HztnQ/w-d-xo.html *15 things you must let go to retire* th-cam.com/video/Hg0nvDeM1X4/w-d-xo.html *My retirement budget* th-cam.com/video/A5PCt_43Ruo/w-d-xo.html *5 early retirement regrets* th-cam.com/video/9qCbvCF2Swk/w-d-xo.html *this convinced me to retire* th-cam.com/video/cU6qG_xC5CU/w-d-xo.html *Timing of Social Security* th-cam.com/video/UMH4UM3F3Ag/w-d-xo.html *How I fill my buckets* th-cam.com/video/vKMGjb1Myv0/w-d-xo.html *How I document my retirement plan* th-cam.com/video/aYmiXTmZAms/w-d-xo.html *What I have learned from 300 retirement coaching clients* th-cam.com/video/EqZutxRckUw/w-d-xo.htmlsi=dqz8JoLrcpfgjj9t --------------------------------------------------------------------------- Looking for a FINANCIAL ADVISOR - Assets under Management or one time plan creation. I use Neil Fortwendel with Northwestern Mutual ph: 812 471 2492. ---------------------------------------------------------------------------- Video by Lean Driven Reliability LLC This video is not investment advice nor advice at all. For entertainment ONLY and reflects my personal story. Seek professional help to understand your unique situation. Affiliate Disclosure: Most of the links on this channel are affiliate links, meaning at no cost to you I earn a commission if you click through and purchase or set up a discussion. Nevertheless, I only recommend products or services that 1) I currently use or have used or 2) I believe can help the majority of people.
Good for you Joe! I’m retiring in 3 weeks and you give me a lot of ideas on finances and life, thank you. Ignore the “haters” and the “ must be nice” people. You work hard and smart- trying to scale your time, make sure these things aren’t turning into jobs, etc and deserve everything you have. Blessings to you and your family and all your endeavors!
Appreciate your openness and insight Joe. I love retirement and I also enjoy managing my own retirement. I have good tools including Boldin and Fidelity, along with a 40 year career in corporate finance. Your videos provide good real world content that I find relatable.
This now explains how you're able to have 10 years in your "bucket 1". All your income streams cause the size of the "year" to be much smaller than most. Very nice. It also explains why you're waiting longer to collect social security. This video helped me to understand more of the "why" behind some of your other decisions & paints a bigger & more comprehensive picture, so thanks for this. It puts many of your other stances in a better perspective. I imagine it may help others to think in these terms. P.S. I also just shoveled snow for two elderly neighbors today. All good. 👍
Nice: Fewer for me...1. Pension; 2. Pay (part time work as adjunct); 3. Online work (varies); 4. Royalties from writing (varies, $210 last month); 5. Interest/dividends. - I really only consider 1-3 as income. I write as a hobby and interest and dividends are reinvested. I reduced my online projects since some took too much time. After all, I am (semi) retired. 🙂
Hey Joe, thanks for your openness regarding income sources and most importantly your “why” you do these things. I have been retired 1-1/2 years, now age 58. I do admit that watching your videos did help. I’m fortunate enough to be drawing a larger pension, dividends (reinvested), will have a decent 401K and wife is still working at home full time with a fairly low stress flexible job. Will probably delay SS to age 67 and take wife’s SS at age 62. No debt of any kind. I love running, cycling, swimming, weightlifting and playing guitar. This takes up about 4 hours of my day. But I am making it a goal this year to volunteer in my community and at church. I have a lot to offer regarding finances and budgeting along with health and fitness. So trying to figure out how to share my knowledge and make it happen!
Yeah, I too shovel (snowblow) an entire block of neighbor's walk ways and a couple of driveways, I figure look I'm up, i'm out doing mine what's another 10 or so houses.Sometimes you get cookies.
When I retire, I only plan on drawing on 2 or 3 streams at any given time; however, I will have 6 in total. 1. Pension 2. 401k 3. 457b 4. Roth IRA 5. Part-time job 6. SS Pension is estimated to be $4,000/month and SS is estimated to be $2,167/month if taken at 62. I'm debt-free so any additional streams would simply be frosting on the cake.
I appreciate the openness. My channel is about trying to help teachers retire by 55 years old. You’ve earned my sub with being so transparent. You’re someone I can learn from.
You are smart, motivated, you reflect a lot, and good with people. All these skills have made you be able to do this. Unfortunately, 80% of us have zero wherewithal or motivation or desire to do all these amazing side hustles and just want to have our Social security and savings as the ONLY income we have, and some being lucky enough to have a pension. As well. And the majority of people are not smart about any of this. We are Ramsey people, so we have ZERO debt and don't buy stupid things like new cars on credit and our house is paid for, but you would be surprised how many seniors are totally stupid with money.
I was trained as an Industrial Engineer so I feel your engineering pain. I only did the job for a few years before I shifted into IT. The IE education and experience helped a lot but I'm always seeing better solutions for everything. I eventually stopped telling everyone how to do things better, unsolicited. Well almost stopped, lol. I retired in 2023 and have 6-8 streams of income, depending on how you count them. Thank you for your videos. They were a help to me, among other sources, on retiring early. I'm glad to hear TH-cam is compensating you well for the effort. Cheers!
Im one of those who’s going to say that you’re working. You are. Some of your work is turning into passive income like your videos and book sales and referrals. My take away is that in retirement one needs to set up those streams of passive income. Not everyone is going to make $50k on YT. But having a few rentals is possible if acquired over time. For me it’s our farm. We get a few photographers who want to come out and do wedding, graduation, family and quinceañera shoots. I now charge a competitive fee. It pays for my mowing which I have to do anyway.
Appreciate this level of info. Several income sources are very dependent and are generated as a result of TH-cam, which is very effective and passive. I have several different income sources that require little time- rental house, farm rent, gas royalties, and blueberry pick your own business. This didn’t just happen. I hustled years ago to get them set up.
Great information Joe! As a fellow Engineer I really understand your "fix it" mentality. Your content is the primary driver that allowed me to pull my retirement plans 2 years earlier than originally anticipated (current plan is retire this year in April). Keep up the good work, and all the help you provide to your subscribers! Happy 2025!
I think what would be helpful is to take the next step and share what your total income is projected to be along with Social Security. Then compare that with what your estimated forecasted annual expenses will be. With these two numbers, it would be interesting to know how much you will need to withdraw from your portfolio to make up the difference if any. Most of us in retirement look at the total picture in this way.
Thank you for disclosing your promoter relationship with Boldin among other businesses that you routinely promote on you channel. Consider adding a disclosure section to your channel description in case viewers miss this episode and think you are promoting these businesses conflict of interest free.
Income streams, the secret sauce to retirement! All you hear is “how much do you need to save for retirement” but without income streams that nest egg will disappear faster than you think!
Thanks for the transparency. It is possible to retire early with multiple income streams coming in that replace a full time job. For me retirement is going to be relying on my 401k, investments, social security. I will be spending down those accounts & that is it! I see so many TH-camrs expounding virtues of retiring early when they have multiple streams of income/side hustles versus what I consider a traditional retirement like mine relying solely on what I have saved. If I could have all my expenses paid from other sources & less "work" time without having to touch my 401k, investments, etc. I would retire early too!
I found this interesting. Five years ago I was like you, until my whole coaching and financial advisory initiative turned into a job despite my being early retired. So I shut it down and decided I would only coach a few people pro bono. Zero income nowadays but the gratification is compensation enough for me, and it’s no longer a job. I can do this because I do have passive income streams from paid off real estate, but I find I must resist the urge to earn money I really don’t need just because I’m providing a valuable service. It’s my way of giving back for my fortune. And, I can safely say the need out there is great. You got that one very right.
Very similar story. I mentor 4 people for free now. I don't feel bad about rescheduling and not preparing as much to ensure they get their money's worth.
I don't have a pension, no way to get "confidential contracts" :), and only 53, but so close I can taste it. Keep up the good hobbying. Another firm that produces content, more often on the personal side has (re)defined the 3Cs of retirement: Connect, Create, and Contribute (Dave Zoeller ?). I think this outlet helps you hit all 3. Ignore the yo-yos.
Joe, thanks for sharing more of your personal experiences and personal money flow. I would like to see an example in Boldin of how you determine a Roth conversion amount. Maybe simulate no earned or retirement income and how you determine a Roth Conversion amount, the. Simulate again with some SS income. To be direct, I would like to see if you are looking at Fed tax graph and IRMAA, or do you have other advice on what to look at within Boldin. Thanks for all you share!
The great part about all those income streams is that if you end up not wanting to do all of those things (like the coaching) you have a number of other income streams as fallbacks.
Great video! We had several income streams while working and saving. Had a couple of rental properties. Wife's family owned agriculture property that we leased to a farmer that generated very good but unpredictable income. Now we are retired, just sold the last of the properties, and are living on stock returns and dividends and interest from CDs and bonds. SS is waiting for my wife in a few years and I will wait until 67 to collect mine. Living on about a 2 percent withdrawal rate.
Income is probably the most daunting piece of the puzzle for me - how to go from earning a steady paycheck while working to generating enough income from my savings and investments to cover expenses. Moving from "saver" to "spender" is the biggest challenge for me. I will be thinking of a couple of ways to potentially turn something that I enjoy into a passive income, but mostly it is just getting the right mindset. So far, Boldin says go for it. I will be meeting with my planner later this month to get her opinion, but it looks like all systems go.
I think I have about 16-17 income streams. That doesn’t count SS as we are a long way from drawing it. I attribute a large part of my success to realizing in my early forties that I needed multiple income streams rather than have my life tied to a single job. I’ve also quit several side hustles in the last few years simply because the demands on my time weren’t worth the returns.
Hey Joe, this is Steven from Raleigh. This particular video I found very very interesting. I suspect there are many people out there that have developed a number of different income streams and I like the concept, and I would encourage others to leave what they do in the comments. I hope to come back to this and read all sorts of wonderful stories. Thanks for the video, Joe. Talk to you later
"According to Nicole" has a bit about a famous video "how did I pay $78 for this Tesla". They all have the same advice but they aren't rich from following their advice, they are getting (very rich) from you tube, and totally misrepresenting their success. This transparency is refreshing.
Can someone please comment on the Donaldson Capital Management engagement for reviewing your financial plan for $300. How did it go, what did you get for $300 and the name of the CFP you worked with. I'm thinking about signing up once it becomes available again.
I'm waiting for this video because I want the link to be open again. This is expected mid month. The feedback has been way over the top positive. Very intelligent DIYers are saying they discovered 4 or more gaps. Roughly 10 people have emailed me with feedback. Donaldson provides a written report after the discussion of strengths and gaps.
@@joekuhnlovesretirement Ok Joe. Was there any specific CFP name that was mentioned in the feedback? I don't want to get an entry level CFP reviewing my plan if you know what I mean. Looking forward for the link to be opened again.
Joe i believe anyone who gave it a thought would have figured out your revenue streams...which is a testament to your transparency and honesty!...we'll the last two were not so obvious..hah
Joe, in this video you mention that you use Boldin software. In another video you recommend New Retirement. I assume those are the same (company name vs. name of software)? Thanks.
Neil will only do full plan creation for a fee. Donaldson is close to plan reviews currently, but expected to open up in coming days. Closed due to overwhelming demand. I have 3 more companies I am in discussions with to handle the volume. The only thing I can suggest now is securing coaching time with Boldin (through their website). This will not be a CFP, but someone to make sure you filled out everything correctly. My 2cents... wait for Donaldson to open back up. They are getting rave reviews. Should be a week or two out. Joe
Interesting video. I was on the fence about on whether or not Joe works during retirement. After watching this video, I think it is a firm yes. 😂 Finding sponsors and getting a cut for recommending products and services, as well as timing video releases to keep the income stream uninterrupted all counts as work, even if it is monetizing a hobby or passion project. Note, there is no shame in having a retirement vision that envisions work as part of the plan; Joe should just be honest and admit it. Joe’s work denials remind me that, “the lady doth protesteth too much,” as Shakespeare would say.
I think a lot of the income streams you are talking about are passive -- so I don't think you seem too busy. I used to lead a training for World Bank country economists (macroeconomists) on how to interview...couldn't agree more about interview preparation.
So, I am having trouble finding a CPA that does retirement Tax Planning/ Roth Conversions. Should I go off of what the Goldin Roth Conversion explorer or keep looking for a CPA? I live in Greensboro North Carolina.
I use Boldin to show me the future and recommend this year's conversion to fit that plan. Before the actual conversion for any given year, I calculate manually. I believe this is an overkill, and have never seen a problem with the Boldin recommendation.
Full disclosure, I also have deferred comp, and its great, but isnt this another example of a benefit provided exclusively to people who need it the least?
Well, you are still working. That’s your choice of course. Interesting though when I first watched your videos, I was under the impression that you had fully retired & were living on retirement income. Clearly, that’s not the case
For my coming retirement, my income streams will likely be: 1. Social Security, 2 Fixed Annuity, 3. Brokerage/IRA’s, 4. “Rehoming” (for a fee) baby bird Conures (right now my birds haven’t had any babies in 2+ years…), 5. May freelance as a landscape architect- but I really just plan to re-do my yard.
Do you contribute to a Roth for you and your spouse every year? Might as well protect a bit of the compensation. Good job! Retirement is choosing what you want to do.
Joe could you do an analysis of whether there is an advantage between conversions VS contributions to a Roth when you have the option for both? Obviously I understand the issue with limits, but having some PT self employed income I’m eligible to contribute up to $16,000 per year for my wife and I(combined). That is close to my total PT income. Currently at a 10-12% bracket and basically retired. Wife on SS. Boldin is recommending only minimal Roth conversions despite having close to $1million in pretax.
Enjoyed the content and appreciate the candor. I know you're feverishly converting ira funds to roth due to rmd's, but would you consider a video on how you keep those accounts invested? Is each account 80/20 or is there a different strategy? I don't see a lot of content out there on this subject.
So, deferred comp. I get that it’s set up like the 401k, but is it an account that you must burn through in 10 years from date of retirement (kinda like an inherited 401k that needs to be withdrawn within 10 years from the year of donor’s death)?
Some DCP plans have other payout options such as lump sum, 5 or 10 year monthly payments. Or a combo of these. The funds are held in a Rabbi Trust, so pretty safe, but if the company folds then the monies could be used to pay company debt and shareholders. This is usually not a big risk for larger organizations.
Hey Joe. Good income sources. Now that you are an old man, over 59.5, are you doing anything with your IRA, such as Roth conversions, or spend down? I'm in RMD land, so I do that, and charity QCD and if there is room a RC at the end of the year.
I do that exercise each quarter. I assume zero income to get to my 10 years fixed. I assume current income for 2 years to project taxes for my Roth Conversions.
Great work but not retired…. more like self employed. Channel focus is on someone who retired from the corporate world at age 54 and now finds self employment through part time work and side hustles, as well as using the bucket strategy on savings and investments.
I knew something wasn’t as it appeared when perhaps, one year ago, you announced that your net worth had increased significantly. Very unusual for a 60 year old retired person. You’re not retired from working, only retired as an engineer. Me too, now I understand logically whats what.., good luck 🍀
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*_PLEASE STOP USING Spreadsheets!_** It falls way short optimizing every retirement factor*
Retirement Tool Link I reference and use and recommend -- Boldin (old name: New Retirement)
Free 2 week trial. $120/yr after. You will buy this after trying (I have purchased for 5 years ).
USE THIS LINK Please ---- go.boldin.com/joekuhn
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*Need a CFP to create your professional retirement plan for a one time fee?* I use Neil Fortwendel (812) 471-2492. Neil created my plan. Plan updates as you wish for a smaller fee. Check Neil out on Facebook and LinkedIn. Average Cost: $3500 - includes 12 months coaching!
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*DO NOT GO IT ALONE!!!!!!!*
*Money Pickle - FREE! use link to set up a FREE 45 minute dialog with a Financial Advisor*
No obligation. Get answers to your specific questions. Get an expert to look at your plan.
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*Want a CFP to review/evaluate you plan for $300?*
Donaldson Capital Management now provides this service to my viewers
LINK: contact.dcmol.com/financial-plan-review_joe
Promoter Disclosure: leandrivenreliability9-my.sharepoint.com/:b:/g/personal/josephkuhn_leandrivenreliability9_onmicrosoft_com/EYaY6c8hzaZFqEEQeUeQA8sBp0Y5cA7OIZrBA9V4-6tYQw?e=P8ieDx
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Most Popular VIDEOS
*Health Insurance before Medicare* th-cam.com/video/KPs4RXOOS64/w-d-xo.html
*Demo of Boldin (NewRetirement) Software* th-cam.com/video/IO-D2TCYzSA/w-d-xo.htmlsi=d5lt1JMCv9Izstt1
*You Cannot retire with these 4* th-cam.com/video/4qlCbfizoaI/w-d-xo.html
*2 shocking surprises in retirement* th-cam.com/video/pCDR29HztnQ/w-d-xo.html
*15 things you must let go to retire* th-cam.com/video/Hg0nvDeM1X4/w-d-xo.html
*My retirement budget* th-cam.com/video/A5PCt_43Ruo/w-d-xo.html
*5 early retirement regrets* th-cam.com/video/9qCbvCF2Swk/w-d-xo.html
*this convinced me to retire* th-cam.com/video/cU6qG_xC5CU/w-d-xo.html
*Timing of Social Security* th-cam.com/video/UMH4UM3F3Ag/w-d-xo.html
*How I fill my buckets* th-cam.com/video/vKMGjb1Myv0/w-d-xo.html
*How I document my retirement plan* th-cam.com/video/aYmiXTmZAms/w-d-xo.html
*What I have learned from 300 retirement coaching clients* th-cam.com/video/EqZutxRckUw/w-d-xo.htmlsi=dqz8JoLrcpfgjj9t
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Looking for a FINANCIAL ADVISOR - Assets under Management or one time plan creation. I use
Neil Fortwendel with Northwestern Mutual ph: 812 471 2492.
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Video by Lean Driven Reliability LLC
This video is not investment advice nor advice at all. For entertainment ONLY and reflects my personal story. Seek professional help to understand your unique situation.
Affiliate Disclosure: Most of the links on this channel are affiliate links, meaning at no cost to you I earn a commission if you click through and purchase or set up a discussion. Nevertheless, I only recommend products or services that 1) I currently use or have used or 2) I believe can help the majority of people.
Joe, great video! This is exactly what we need in our genre of TH-cam. The more transparency the better. Thank you my friend.
you're the role model!
@@joekuhnlovesretirementI call him the Godfather. You're not so bad yourself!
@@joekuhnlovesretirementtwo legends here!
Helping people!! Keep it up Joe!! You deserve the income you get from TH-cam - great videos!!
Good for you Joe! I’m retiring in 3 weeks and you give me a lot of ideas on finances and life, thank you.
Ignore the “haters” and the “ must be nice” people. You work hard and smart- trying to scale your time, make sure these things aren’t turning into jobs, etc and deserve everything you have.
Blessings to you and your family and all your endeavors!
Appreciate your openness and insight Joe. I love retirement and I also enjoy managing my own retirement. I have good tools including Boldin and Fidelity, along with a 40 year career in corporate finance. Your videos provide good real world content that I find relatable.
50K a year from TH-cam? Holy Cannoli, thats awesome
This now explains how you're able to have 10 years in your "bucket 1". All your income streams cause the size of the "year" to be much smaller than most. Very nice. It also explains why you're waiting longer to collect social security.
This video helped me to understand more of the "why" behind some of your other decisions & paints a bigger & more comprehensive picture, so thanks for this. It puts many of your other stances in a better perspective.
I imagine it may help others to think in these terms.
P.S. I also just shoveled snow for two elderly neighbors today. All good. 👍
Nice: Fewer for me...1. Pension; 2. Pay (part time work as adjunct); 3. Online work (varies); 4. Royalties from writing (varies, $210 last month); 5. Interest/dividends. - I really only consider 1-3 as income. I write as a hobby and interest and dividends are reinvested. I reduced my online projects since some took too much time. After all, I am (semi) retired. 🙂
Thank you for being transparent. It is inspiring.
Hey Joe, thanks for your openness regarding income sources and most importantly your “why” you do these things. I have been retired 1-1/2 years, now age 58. I do admit that watching your videos did help. I’m fortunate enough to be drawing a larger pension, dividends (reinvested), will have a decent 401K and wife is still working at home full time with a fairly low stress flexible job. Will probably delay SS to age 67 and take wife’s SS at age 62. No debt of any kind. I love running, cycling, swimming, weightlifting and playing guitar. This takes up about 4 hours of my day. But I am making it a goal this year to volunteer in my community and at church. I have a lot to offer regarding finances and budgeting along with health and fitness. So trying to figure out how to share my knowledge and make it happen!
Yeah, I too shovel (snowblow) an entire block of neighbor's walk ways and a couple of driveways, I figure look I'm up, i'm out doing mine what's another 10 or so houses.Sometimes you get cookies.
Joe, you can now do videos on how to build a side-hustle career post early retirement - that is what you have done.
When I retire, I only plan on drawing on 2 or 3 streams at any given time; however, I will have 6 in total.
1. Pension 2. 401k 3. 457b 4. Roth IRA 5. Part-time job 6. SS
Pension is estimated to be $4,000/month and SS is estimated to be $2,167/month if taken at 62. I'm debt-free so any additional streams would simply be frosting on the cake.
Joe, I certainly appreciate and enjoy your work. You helped me gain the confidence to retire earlier than I planned.
I appreciate the openness. My channel is about trying to help teachers retire by 55 years old. You’ve earned my sub with being so transparent. You’re someone I can learn from.
Thank you so much! It’s great to see how others have done it. I’m almost there. ✅
Good content Joe. Appreciate you sharing your experiences and knowledge!
You are smart, motivated, you reflect a lot, and good with people. All these skills have made you be able to do this. Unfortunately, 80% of us have zero wherewithal or motivation or desire to do all these amazing side hustles and just want to have our Social security and savings as the ONLY income we have, and some being lucky enough to have a pension. As well. And the majority of people are not smart about any of this. We are Ramsey people, so we have ZERO debt and don't buy stupid things like new cars on credit and our house is paid for, but you would be surprised how many seniors are totally stupid with money.
I was trained as an Industrial Engineer so I feel your engineering pain. I only did the job for a few years before I shifted into IT. The IE education and experience helped a lot but I'm always seeing better solutions for everything. I eventually stopped telling everyone how to do things better, unsolicited. Well almost stopped, lol. I retired in 2023 and have 6-8 streams of income, depending on how you count them. Thank you for your videos. They were a help to me, among other sources, on retiring early. I'm glad to hear TH-cam is compensating you well for the effort. Cheers!
Im one of those who’s going to say that you’re working. You are. Some of your work is turning into passive income like your videos and book sales and referrals. My take away is that in retirement one needs to set up those streams of passive income. Not everyone is going to make $50k on YT. But having a few rentals is possible if acquired over time. For me it’s our farm. We get a few photographers who want to come out and do wedding, graduation, family and quinceañera shoots. I now charge a competitive fee. It pays for my mowing which I have to do anyway.
Boldin really delivers. It gave me confidence and peace of mind going into retirement. It’s fun and easy to use, excellent for tinkering
Appreciate this level of info. Several income sources are very dependent and are generated as a result of TH-cam, which is very effective and passive. I have several different income sources that require little time- rental house, farm rent, gas royalties, and blueberry pick your own business. This didn’t just happen. I hustled years ago to get them set up.
Thank you, Joe! You gave me confidence to retire 18 months ago. Loving every minute of it!
I looked at your pic and said, dam, that guy looks just like Thomas Sowell. Then I looked at your name. He is a treasure.
Great information Joe! As a fellow Engineer I really understand your "fix it" mentality. Your content is the primary driver that allowed me to pull my retirement plans 2 years earlier than originally anticipated (current plan is retire this year in April). Keep up the good work, and all the help you provide to your subscribers! Happy 2025!
congratulations!
I think what would be helpful is to take the next step and share what your total income is projected to be along with Social Security. Then compare that with what your estimated forecasted annual expenses will be. With these two numbers, it would be interesting to know how much you will need to withdraw from your portfolio to make up the difference if any. Most of us in retirement look at the total picture in this way.
thank you for your transparency, Joe. love your content and your honesty.
Thank you for being fully transparent!
Appreciate the candor, Joe.
Thanks for sharing!!!! Love it this. Keep it coming
Thank you for sharing this part of your journey. I appreciate it!
Thank you for disclosing your promoter relationship with Boldin among other businesses that you routinely promote on you channel. Consider adding a disclosure section to your channel description in case viewers miss this episode and think you are promoting these businesses conflict of interest free.
Well done, Joe. 50k/yr from TH-cam is a dream with only 4 hrs of work a week.
Love the open-book honesty
Joe, Thanks for sharing this info. Very interesting to hear about the possibilities and dead ends too.
Income streams, the secret sauce to retirement! All you hear is “how much do you need to save for retirement” but without income streams that nest egg will disappear faster than you think!
Sound to me like your not retired!
Great video. I'm retired at 52 with 2 income sources. Pension and disability. I also have a 401k, IRA, and brokerage account that I would tap at 59.5.
Thanks for the transparency. It is possible to retire early with multiple income streams coming in that replace a full time job. For me retirement is going to be relying on my 401k, investments, social security. I will be spending down those accounts & that is it! I see so many TH-camrs expounding virtues of retiring early when they have multiple streams of income/side hustles versus what I consider a traditional retirement like mine relying solely on what I have saved. If I could have all my expenses paid from other sources & less "work" time without having to touch my 401k, investments, etc. I would retire early too!
I found this interesting. Five years ago I was like you, until my whole coaching and financial advisory initiative turned into a job despite my being early retired. So I shut it down and decided I would only coach a few people pro bono. Zero income nowadays but the gratification is compensation enough for me, and it’s no longer a job. I can do this because I do have passive income streams from paid off real estate, but I find I must resist the urge to earn money I really don’t need just because I’m providing a valuable service. It’s my way of giving back for my fortune. And, I can safely say the need out there is great. You got that one very right.
Very similar story. I mentor 4 people for free now. I don't feel bad about rescheduling and not preparing as much to ensure they get their money's worth.
I don't have a pension, no way to get "confidential contracts" :), and only 53, but so close I can taste it. Keep up the good hobbying. Another firm that produces content, more often on the personal side has (re)defined the 3Cs of retirement: Connect, Create, and Contribute (Dave Zoeller ?). I think this outlet helps you hit all 3. Ignore the yo-yos.
Thanks for sharing! You are my inspiration. 👍🏼🙏🏼
Thank you!! Good content!
Joe, thanks for sharing more of your personal experiences and personal money flow.
I would like to see an example in Boldin of how you determine a Roth conversion amount. Maybe simulate no earned or retirement income and how you determine a Roth Conversion amount, the. Simulate again with some SS income. To be direct, I would like to see if you are looking at Fed tax graph and IRMAA, or do you have other advice on what to look at within Boldin.
Thanks for all you share!
I have a few videos on this. Search Joe Kuhn taxes.
This is fantastic and super helpful!
The great part about all those income streams is that if you end up not wanting to do all of those things (like the coaching) you have a number of other income streams as fallbacks.
Great video! We had several income streams while working and saving. Had a couple of rental properties. Wife's family owned agriculture property that we leased to a farmer that generated very good but unpredictable income. Now we are retired, just sold the last of the properties, and are living on stock returns and dividends and interest from CDs and bonds. SS is waiting for my wife in a few years and I will wait until 67 to collect mine. Living on about a 2 percent withdrawal rate.
Nice work!
Income is probably the most daunting piece of the puzzle for me - how to go from earning a steady paycheck while working to generating enough income from my savings and investments to cover expenses. Moving from "saver" to "spender" is the biggest challenge for me. I will be thinking of a couple of ways to potentially turn something that I enjoy into a passive income, but mostly it is just getting the right mindset. So far, Boldin says go for it. I will be meeting with my planner later this month to get her opinion, but it looks like all systems go.
I think I have about 16-17 income streams. That doesn’t count SS as we are a long way from drawing it. I attribute a large part of my success to realizing in my early forties that I needed multiple income streams rather than have my life tied to a single job.
I’ve also quit several side hustles in the last few years simply because the demands on my time weren’t worth the returns.
Hey Joe, this is Steven from Raleigh. This particular video I found very very interesting. I suspect there are many people out there that have developed a number of different income streams and I like the concept, and I would encourage others to leave what they do in the comments. I hope to come back to this and read all sorts of wonderful stories. Thanks for the video, Joe. Talk to you later
Good idea Steven
Great content. Thank you.
"According to Nicole" has a bit about a famous video "how did I pay $78 for this Tesla". They all have the same advice but they aren't rich from following their advice, they are getting (very rich) from you tube, and totally misrepresenting their success. This transparency is refreshing.
Well, if you are not full-time, then you are pretty talented.
And here I tought you were retired! 😅 Good on you, Joe, you do you!
Can someone please comment on the Donaldson Capital Management engagement for reviewing your financial plan for $300. How did it go, what did you get for $300 and the name of the CFP you worked with. I'm thinking about signing up once it becomes available again.
I'm waiting for this video because I want the link to be open again. This is expected mid month. The feedback has been way over the top positive. Very intelligent DIYers are saying they discovered 4 or more gaps. Roughly 10 people have emailed me with feedback. Donaldson provides a written report after the discussion of strengths and gaps.
@@joekuhnlovesretirement Ok Joe. Was there any specific CFP name that was mentioned in the feedback? I don't want to get an entry level CFP reviewing my plan if you know what I mean. Looking forward for the link to be opened again.
Thank you Joe.
Joe i believe anyone who gave it a thought would have figured out your revenue streams...which is a testament to your transparency and honesty!...we'll the last two were not so obvious..hah
Joe, in this video you mention that you use Boldin software. In another video you recommend New Retirement. I assume those are the same (company name vs. name of software)? Thanks.
Boldin is the new name…same software. It is very detailed and offers the ability to look at multiple scenarios.
In September NR changed to Boldin. Use my link if interested for 2 free weeks.
Joe, Do any of the financial planners you recommend ( Neil or Donaldson) review / tweak plans in Boldin?
Neil will only do full plan creation for a fee. Donaldson is close to plan reviews currently, but expected to open up in coming days. Closed due to overwhelming demand. I have 3 more companies I am in discussions with to handle the volume. The only thing I can suggest now is securing coaching time with Boldin (through their website). This will not be a CFP, but someone to make sure you filled out everything correctly. My 2cents... wait for Donaldson to open back up. They are getting rave reviews. Should be a week or two out. Joe
Interesting video. I was on the fence about on whether or not Joe works during retirement. After watching this video, I think it is a firm yes. 😂
Finding sponsors and getting a cut for recommending products and services, as well as timing video releases to keep the income stream uninterrupted all counts as work, even if it is monetizing a hobby or passion project.
Note, there is no shame in having a retirement vision that envisions work as part of the plan; Joe should just be honest and admit it. Joe’s work denials remind me that, “the lady doth protesteth too much,” as Shakespeare would say.
Funny take on things
Thanks for the transparency
I think a lot of the income streams you are talking about are passive -- so I don't think you seem too busy. I used to lead a training for World Bank country economists (macroeconomists) on how to interview...couldn't agree more about interview preparation.
So, I am having trouble finding a CPA that does retirement Tax Planning/ Roth Conversions. Should I go off of what the Goldin Roth Conversion explorer or keep looking for a CPA? I live in Greensboro North Carolina.
I use Boldin to show me the future and recommend this year's conversion to fit that plan. Before the actual conversion for any given year, I calculate manually. I believe this is an overkill, and have never seen a problem with the Boldin recommendation.
Full disclosure, I also have deferred comp, and its great, but isnt this another example of a benefit provided exclusively to people who need it the least?
I don’t see that way. In hindsight I would have preferred to take after tax and put in brokerage account which anyone can do.
@@joekuhnlovesretirement Interesting. Why?
Joe, just curious if you included the YT streams estimates in your retirement plan. If it went away, would this significantly impact your retirement?
I figure with and without. I’m fine without. I continue to live below my means. YT is just an outlet for me to help others and keep socializing
Congrats!
Well, you are still working. That’s your choice of course. Interesting though when I first watched your videos, I was under the impression that you had fully retired & were living on retirement income. Clearly, that’s not the case
For my coming retirement, my income streams will likely be: 1. Social Security, 2 Fixed Annuity, 3. Brokerage/IRA’s, 4. “Rehoming” (for a fee) baby bird Conures (right now my birds haven’t had any babies in 2+ years…), 5. May freelance as a landscape architect- but I really just plan to re-do my yard.
Do you contribute to a Roth for you and your spouse every year? Might as well protect a bit of the compensation.
Good job!
Retirement is choosing what you want to do.
No contribution, just conversions.
Joe could you do an analysis of whether there is an advantage between conversions VS contributions to a Roth when you have the option for both? Obviously I understand the issue with limits, but having some PT self employed income I’m eligible to contribute up to $16,000 per year for my wife and I(combined). That is close to my total PT income. Currently at a 10-12% bracket and basically retired. Wife on SS.
Boldin is recommending only minimal Roth conversions despite having close to $1million in pretax.
Enjoyed the content and appreciate the candor. I know you're feverishly converting ira funds to roth due to rmd's, but would you consider a video on how you keep those accounts invested? Is each account 80/20 or is there a different strategy? I don't see a lot of content out there on this subject.
Each account is different. I have a short term bucket (10yrs) and long term bucket. B1 is all fixed. B2 is all equities. I like simple.
So, deferred comp. I get that it’s set up like the 401k, but is it an account that you must burn through in 10 years from date of retirement (kinda like an inherited 401k that needs to be withdrawn within 10 years from the year of donor’s death)?
yes. But retiring at 54 not a problem.
Some DCP plans have other payout options such as lump sum, 5 or 10 year monthly payments. Or a combo of these. The funds are held in a Rabbi Trust, so pretty safe, but if the company folds then the monies could be used to pay company debt and shareholders. This is usually not a big risk for larger organizations.
Pretty gutsy to lay it out there.
Hey Joe. Good income sources. Now that you are an old man, over 59.5, are you doing anything with your IRA, such as Roth conversions, or spend down? I'm in RMD land, so I do that, and charity QCD and if there is room a RC at the end of the year.
I'm doing significant roth conversions each year based on my Boldin software highlighting what my RMDs will be.
@@joekuhnlovesretirement Very cool. I'm doing enough to get me to the top of the 12% bracket. IRA isn't large but it all helps.
Fire = financial independence recreational employment
1. Rental income; 2. IRA; 3. Lifetime annuity; 4. Alternative investments (5% return); 5. SS; 6. Brokerage account
Thank you
If you have no income stream, how long would you survive? I think you are retired from corporate but not really retired.. nothing wrong with that btw
I do that exercise each quarter. I assume zero income to get to my 10 years fixed. I assume current income for 2 years to project taxes for my Roth Conversions.
Great work but not retired…. more like self employed. Channel focus is on someone who retired from the corporate world at age 54 and now finds self employment through part time work and side hustles, as well as using the bucket strategy on savings and investments.
Great income streams! How long will you keep it all up?
Who knows. I already stopped coaching one on one.
An intelligent successful engineer! Do you have a bitcoin?
No Bitcoin. I like stuff that is real. Invest in products I understand. Perhaps wrong, but my path.
What type/kind of engineer?
Mech
Man! That’s a lot of dough!
What about your wife's SS/IRA/Investments. They should count too. It is all one big happy family.
We're one big happy family. My investments are her investments. SS for her was a miss for me.
quite impressive but from my experience making videos and the other stuff seems like working too…
I consider it a very flexible and lucrative hobby. Recall that I made no money for 3 years making videos. Why? It was the fulfillment.
❤❤❤❤❤❤❤❤
Almost none of these sources pertain to my world
This is a repeat........
Really? I don't think so. I hinted at some, but never put it all together.
I knew something wasn’t as it appeared when perhaps, one year ago, you announced that your net worth had increased significantly. Very unusual for a 60 year old retired person. You’re not retired from working, only retired as an engineer. Me too, now I understand logically whats what.., good luck 🍀