America is presently besieged by the hydra-headed evil combo of inflation and recession. The worst aspect about this crisis is that consumers are piling up credit card debt. Credit card debt increased by 20% in April alone, while interest rates have doubled in a year. Inflation is so severe that customers are essentially going into debt to buy basic essentials. The collapse has certainly begun.
Every day, we face a new challenge. It has become the new normal. We felt it was a catastrophe at first, but now we know it's a new normal to which we must adjust. This year will be a year of great economic suffering across the country. What initiatives can we take to earn additional revenue during the period of quantitative adjustment? I can't afford for my hard-earned $200k to fall to dust.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
When ‘Melissa Terri Swayne’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@@PatrickLloyd- I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
I don't do anything special my CFA oversees it all. I've stuck with SOPHIE LYNN CARRABUS since the pandemic, and her performance has been consistently impressive. She’s quite known in her field with over two decades of experience, simply look her up.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
The FED knows. They aren't committed to attacking inflation. They are going to continue to inflate, stocks and commodities will continue to go up with everything else. You can't just sit on cash waiting for a crash, get your money working for you, start buying in slowly and then gradually increase the pace of buying as the prices continue to drop
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Please tell me how can I connect to your advisor. My funds are being murdered by inflation, therefore I'm looking for a more profitable investing strategy to put my portfolio to work.
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 ‘’Annette Christine Conte” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Inflation and recession are caused by the Federal government spending more than it earns, because they just print more money to make up the difference. To solve inflation, reduce wasteful government spending. Your tax dollars should be spent well, not poorly.
I totally agree! It’s frustrating to see how government spending can lead to inflation, especially when they just print more money to cover the gaps. Cutting down on wasteful spending would definitely help ensure that our tax dollars are used more effectively. It’s all about being responsible with our resources.
I hear you on that! It's really important to be mindful of how government spending impacts inflation. If you're looking for more insights on managing finances or investments, consulting with a CFA could be a great way to get professional advice tailored to your situation. They can really help navigate these complex issues
I totally get what you’re saying! It’s so crucial to keep an eye on government spending and its effects on inflation. By the way, if you’re considering consulting a CFA, do you have someone in mind? I’d love to hear their name.
Nah I haven’t. 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 email shortly.
i am not surprise America is facing several financial challenges, but calling the situation "screwed" is an oversimplification. it's a fvked up situation the country as significant debt, rising inequality, and other systemic issues. it's killing our economy inside/out
the government can start somewhere like reducing inequality through progressive tax policies, improving access to education, and providing better job training for workers, if not the finance will keep going down making investors exist America stock like JP Morgan and co.
@@ClintonMathew-x1s you are right but for now, i don't have to think deep about America stock and index since i have sophie kathryn jones by my side to take care of my personal portfolio and also so don't worry Trump is here
@@MuhammadJame-l9u i just looked her up, also I have worked with a few financial advisors before now but i ultimately settled for ‘sophie kathryn jones. She is SEC regulated and licensed in US.
@@jiangjianqing2799 i also heard stories about this particular advisor, if she's that good no need of being worry what's going to happen if the economy/finance is going wild, i will check her out tomorrow.
My dad told me when I was young not to rely on Social Security, that it may or may not be there in the future so to save yourself. If it's still there at retirement, it's just a bonus.
Good on your dad. I was told the opposite by my granddad. Pensions were still going to be a thing and SS will helpwith that and to basically not worry about it. Yeah...fucking oops.
@@ryanauburn prepped? it's not a choice, you have to pay into SS if you are employed in the US. His dad has no say in what happens to his son's SS. He was smart to warn him that you shouldn't rely on SS in retirement.
The 2.5% COLA for 2025 provides a modest increase in benefits for Americans receiving Social Security and SSI payments, helping to offset the rising cost of living and inflation. This increase offers essential financial relief for vulnerable populations like retirees.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars 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.
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 ‘’Stacy Lynn Staples’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Libs have a fit if you mention trying to do away with it. I'd rather cut my losses at this point and just keep my money from this point on and invest it myself. It might be cool to make it voluntary to opt out and maybe get some tax benefits to recoup the money already put in
I'm curious, what would you do about seniors that made a poor investment choice and had no money at 65. Let them starve? Or die of cancer because they can't afford healthcare? Frankly, most people are probably not savvy enough to invest in their own over a 40 year period. And, my question is sincere, not meant to be smartass.
@@KristopherHesson i mean the same thing we should do about people before 65, if you end up homeless thats on you. you have to cut off a welfare state at some point. fact is more the goverment is involved the worst it ends up EVERY SINGLE TIME. so get them out of it, and im sure theyre would end up even less homeless at 65. plus, ss doesnt pay particularly well, and it doesnt have a maximum income that it pays out to. rich can draw from it same as the poor. so its just a straight up bad solution, thats been abused for decades
One note about car insurance: law abiding people who carry car insurance also carry "uninsured motorist". So basically you are paying the premium for the deadbeat who is going to hit you.
@@atari7001 It really is. You are legally required to have it, but insurance companies don't want to pay out if something happens?! Make it make sense.
That's part of the arguments about why illegal immigrants are a problem. If they hit you, instead of you getting financial support you need they just skip out of the country and you're out of luck...happens.
My friends and I often talked about his in high school, that we wouldn't be getting Social Security and we were paying into the older generation. 30 years later, it's comforting to know it is still the same, yet to fruition.
I came to say the same thing. Thirty years ago "they" said SS was going to be out of money in six years. On the plus side, boomers are going to start passing away. And, early on, SS was paid to widows that never paid into it but got all their husband's SS.
@@Oaky Because the funding isn’t matching the usage, yes I watched the video, and also understand that the lack of funding social security to the levels it needs is being blocked by Republicans…
@@Dogmacracy As much as i hate republicans, democrats are not much better. Theyre corporate overlords have a chokehold over them. Theyre just morally a little better, but they obviously dont even believe that since theyve been aiding the genocide in gaza.
People complain about failed audits but then want to defund the audit and oversight services, which is what crooks want us to do..."Why are we bringing in so little in tax revenue? We should defund the IRS" is the same energy as "I saw crime, so we should defund the police."
Not necessarily "more taxation" but fair taxation would help. Social security is taxed up to 168k, that means someone making 50k pays more social security than someone making 500k as a % of their income, that's bs
So I, as a millennial, have been paying my social security taxes my entire life, and the system likely will not even be in place by the time I retire. Great!
This isn't new information dude we've known all this information since before 2008 anyone who has said otherwise was lying to you kinda like the people who said going to college would get you a good job
It will still be there, it just won't pay as much as it does currently, or you will be taxed more to keep up with payouts, and you may have to file later in life or full retirement will be pushed out. It won't change until it reaches critical mass. Politicians are deathly afraid to discuss the issue or take any action because it will end their career. Elect a bunch of people who aren't concerned about being a career politician and really want to make a difference and maybe change might happen.
I think it's important to note that the only reason tax increases have to be bad is for decades we saw this issue coming and never address it. The best way to fix this is always to tackle it as early as possible.
@@theo-avl There is only one party that refuses to increase taxes and continues to give more and more tax cuts...without any real cuts in expenses. Shouldn't be hard to figure it out.
Having more people paying taxes would help the situation. Grabbing those who have lived here for years and sending them south is counter-productive. I wish more of my fellow R's would understand this.
Social security was never intended to be a retirement account, it was only intended to keep people from starving but like most things it grew into something else.
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, 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 i'm financially secure.
*TRUDY ELIZABETH STOUFFER* . .. 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.
The world is dying. All of it. Eventually, the sun will run out of fuel, expand and swallow us all, but we will most certainly destroy ourselves before then. Nothing is permanent, nothing you do here matters. You cannot add value to a sinking ship. Cute sentiment, though. Fairy tales are cute.
This is terrible personal financial advice. Reading books from the public library and giving half your income to charities is a sure way to worry about money your whole life. Here’s something better: Learn to enjoy life without constant unnecessary spending. Gain marketable skills and authority, and keep a budget. You can’t buy time, but debt and uncontrolled spending will consume your entire life.
@@SuperCoon88 You are right, that the advice given is not the best financial advice. However, his point is that money is not all that matters. Even though you can be consumed by uncontrolled spending and debt, you can also be consumed by the dollar. And there are plenty of people who laid on their death bed regretting how much time and stress they spent on the dollar. It's good to free yourself from financial stress, by budgeting properly and planning for your future. But it is just as important to simultaneously live life while you are young. What good does it do to spend 40 years becoming a multimillionaire if you can't walk or breathe by the time you're 65? What are you supposed to do with your millions besides paying for home care treatment? And then at that point, you spent your whole life preparing for death, which is just silly. You skipped out on nights out with your friends, vacations to near or far destinations, all to pay for life support for a couple more weeks to miserably lay in a bed where you can't do anything anyway. It's important to remember that moderation is the key to everything. Moderate saving, moderate future planning, but also moderate fun experiences and impulsive spending on things that make you happy.
No one is retiring in America!! We’re all saving our money and leaving by 50 to go somewhere more affordable and live modestly off of what we have saved!
That's great that you would abandon your country. There are other ways. Aside from that, Going to retire in other countries doesn't quite always workout as you hoped.😮
Okay, so I’ve got $89k sitting pretty in my emergency fund, ready to make it rain in the investment world… but should I even look at real estate? This video makes me feel like buying a house in 2025 is the equivalent of setting money on fire. Stocks seem cooler, but is it risky to put all my eggs in one basket? Someone give me the cheat code!
Many people are looking for additional income as a result of the shifting economy, and I'm thinking about investing in the stock market to accomplish my $3 million retirement target. But the recent market meltdown is worrisome.
Though I haven't taken the initiative, I have been thinking about obtaining one. Is it possible for you to suggest your advisor? I would really appreciate any help.
I think Graham actually did a video where he had a monkey pick the stocks and it made money so you can do it yourself. I have dividend stocks making about $140 a month currently and everything is doing ok. I didn't see any meltdown.
I’m fine i just learned from graham over the years. Buy stocks and use high yield savings, be tax advantaged if possible and rinse repeat. Nothing to worry about. Networth currently is 10x vs when I first started watching graham years ago!
From $37K to $65K that's the minimum range of profit return every month I think it's not a bad one for me, now I have enough to pay bills and take care of my family.
Yeah. Our country is so dedicated to the billionaire class we can’t even bring this up in current poltics. They have gotten so insanely rich due to Reagan era tax cuts and now they will never give anything back except for soulless shitty monpolistic corporate jobs.
With copytrading, you could be sipping coffee on a balcony overlooking a bustling city skyline or lounging on a pristine beach, all while your investments work for you. Picture the freedom to pursue your passions, travel the world, and create lasting memories with your loved ones, all because you took the initiative to harness the power of copytrading and build the life you've always dreamed of.
thanks for putting this out, curiously inputted Sophia Haney on the internet, spotted her consulting page no sweat, and was able to schedule a session ... she actually shows a great deal of expertise from her resumé
There are a lot of short-sighted people here who just don't understand what it takes to have a 1st world country. We are never going to get 100% out of what we put in. It's like a car. You put gas in your car to take you from A to B, but car engines are not efficient; in fact, they only get about 20% power output from all their gets put in; the rest is waste. Are you not going to drive now because of this? No, people are still driving because the ends justify the means
That's stupid. Rushing to retire means saving as little as possible and cutting off your income stream. By that logic, you can retire on 2k a month in your 20s, and live in your car for the next 50 years. Or enjoy life while working into your 50-60s and retire without downgrading your lifestyle. Those decades of saving and interest is what makes the difference.
The government "invests" SS into treasury bonds which basically means the cash is fungible and used to fund government across the board. It is not sitting in a Vanguard account waiting for you to hit retirement.
While that doesn't solve all of the problem, it does solve 70% of it and I'm kinda stunned this hasn't been done decades ago. Actually, I'm not stunned. It's a tax and no politician wants to be known as raising taxes, so it's no surprised they kicked the can down the road. I'd also add that 10% of the money should be invested in the market, specifically, the S&P 500 Index, which has always given 10% rates of return no matter what 30 year block of time you look at. We can aim for a 4% rate of return, instead of the paltry 2.4% we get now. I'd also progressively increase the tax by maybe 0.25% for every $100K you make over $300K and cap the increase at maybe a million. We could play with the numbers. Right now, it's 6.2%. I'd argue that a person bringing in a million a year can handle, I don't know, 7.5%. Again, we can fiddle with the numbers.
My family member told me since I was in College social security is a waste and he could do so much better with that money. He went on making nearly 250k a year with his business. Now he is retirement age and says I have more saved than he does. I asked what happened with your investing over the years. He said well I had to take loans against my 401k, had a divorce, and even pulled money out when the market dropped in the recession. A lot people talk but not many walk. FICA helps more than people realize.
5:31 bro's literally just fearmongering here saying there is no options. One of those options was to remove the 400k cap for paying into social security!! Anyone making less wouldnt see an increase in taxes
100% agree, but the cap is $168k, if it was ~$400k then it would become solvent. It was originally designed to have over 95% of taxable AGI pay into social security, $168k is closer to 85% of national salaries.
In high school my economics teacher told us that by the time my generation retired, social security will have run out by the time we even got there. That stayed with me ever since and it literally just meant to me that we should be taking our retirements in our own hands and the earlier the better to start planning.
I'm retired at 27, went from Grace to Grace. This video here reminds me of my transformation from a nobody to good home, honest wife and 35k biweekly and a good daughter full of ❤️
I never wanted to rely on social security when i got older... Id rather build a business that can provide my family generational wealth.. what else are we here for then to make sure our future family are more comfortable than what we were....
SS is absolutely running out. Every year it has less in the Tbill fund than the year before. Around 2031 or 2032 there will be nothing left to withdraw and there will be an across the board reduction of 23% unless they increase the retirement age or make us all pay more to fund SS. Why would you say it's not running out? You can literally check out the trust fund balance each month and see it deplete. It's absolutely depleting.
@@TheRobinGoodfellow Well, that's the thing about SS, you can't "cash out." You can claim some of what you put in. Not all "pay it forward" scenarios are Ponzi schemes. There are a lot of other differentiating factors, but some people just want to be mad and write the whole thing off instead of fixing the issue. The issue being the "ladder pullers" who removed the very support pillars that were set up for them by their parents and that they themselves benefited from. Why is SS insolvent? Because certain people gutted it and cashed it out. Why is higher education so expensive? Because certain people gutted it and cashed it out. Why have our school scores slipped? Because certain people gutted it and cashed it out. Why is healthcare unaffordable? Because certain people gutted it and cashed out.
My mom was recently told by her accountant that b/c she contributed too much money to her IRA, she had to take out a certain amount of money from her IRA when she retired, which will disqualify her from getting the social security she paid into her whole life…so criminal!
It's a ponzi scheme. As you noted it should have been earmarked accounts designated for each citizen. As it stands it's a pension system for pensioners who either overpay or underpay into their pensions. Terrible policy creation.
Not exactly. You're paid according to. adjusted earnings for inflation, taking the 35 highest-earning years of a person's career and Averaging those earnings. The SSA calculates a person's PIA by applying a formula to their AIME. The formula breaks down a person's average monthly wage into three parts: 90% of the first $1,174 of their AIME 32% of any amount over $1,174 up to $7,078 15% of any amount over $7,078.
You ignore the disability side of the program. It’s an insurance program so look at it that way; as Graham properly explained in the video. No one knows how long they can work or how long they will live. The government also sponsors investment vehicles (IRAs, 401k, etc) that you are welcome to participate in.
Only few minutes long but god damn if this video didn't come packed full of important information! It's good to know who's selling. People that have insane amounts of BTC already have their lives set up for them, they know they'll win in the long term so price fluctuations mean nothing to them. It feels nice to see that confirmed. In the future when people notice that most of the BTC is in the hands of a few, they will complain, but they are the ones to blame, because their weak hands kept selling to the rich instead of trading.......... I have managed to grow a nest egg of around 3b"tc to a decent 26B'tc in the space of a few months. Amidst this, the insights of a knowledgeable guide like that of Francine Duguay can be crucial. Her expertise in navigating the nuances of trading has been the key for Me understanding and making the most of these emerging financial trends.
Thank you for sharing your experience. She’s helped grow my reserve, despite inflation, from $87k to $246k as of today…..Her insights and daily siignals are worth following.
Francine goes deeper than just looking at surface-level trends.. she explores technical, fundamental, and sentiment analysis, offering a comprehensive perspective on the market..
I would support that. I already know I am not getting social security at all. This will be dissolved before I'm of age. So at least the tax benefit I can really benefit from and know that it won't disappear.
That’s a great idea, but age-wise I’d say whatever the social security benefit age is at the time, not 62. Maybe 65 or 67. The idea that we pay out social security benefits so that the retirees can pay property tax with it seems silly. Reduce social security benefits and reduce property taxes
Social Security is not and never was intended to be a retirement program. It was intended to be part of the three legged stool that included savings and pensions, which have become very rare. It’s primarily an insurance program that ensures a safety net for retirees, the disabled, widows and children. My own father passed away when we were kids andmy mother raised us with the help of survivor benefits. So when you contribute to Social Security, you’re actually contributing to the well-being of the entire society.
Sadly, most people don't care enough about others to appreciate that fact. They only care about their own well-being . Yeah, social security being so screwed up sucks, but reading the comments from people who rage about having to pay in, or complain about people on disability, makes me a little sick to my stomach. What do they want to do- euthanize the elderly and disabled? If people can't even dredge up the decency to accept that some individuals might lose some money so that others can survive then they really are awful. 😢
They’ve been telling us social security is going to become insolvent for several decades now and not going to be around, but it’s still there. The benefit has never been cut or reduced, but has actually been increased.
@3railmike713, I been receiving SSA since Oct. 2019 it arrives every month so far and it is kind of happy feeling receiving that extra money in the middle of each month. For me it is not that much most likely because I would have like $58.00 deducted for 36 years I worked in day job. But now that I am older it is nice to receive it. I also receive Pension from my many years of working. I been retired since 2015 so that been a while and I was able to pay for my cost of living from Pension money only. It all depends on each person situation. Great comment. Most likely why SSA will never go away is there many disable people who all depend on this source of income. To me SSA does service very needed service. That just my opinion.
My 87 mom lives on her social security check of $1240 per month plus a rental payment income from her tree farm of $500 per month. So $1740 per month. The tree farm pays her taxes, insurance, and HOA fees. She spends so little she saves money each month for a rainy day. Yes her savings grow each month. Most people could learn a bunch on cheap living from her. For example She hangs her laundry to dry in her garage. Her electric dryer is 25 years old and has been used less than ten times. She would scalp anybody who wanted to enrich the electric company by using her dryer. Bottom line she does not spend money without a fight....
She lives in 1950, got it. Modern world, hard to do that. It's a good skill to have, but people that are going out and progressing the world might not have time for this.
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I'd suggest you discuss with a proper advisor, particularly if you're new at investing or facing uncertainty. I personally have over 180 companies in my portfolio, so if few companies fail, I still have others that can hold me up.
I'm quite lucky exposed to personal finance at an early age, worked full time when I was 19, purchased first home at 32. Going forward, got laid off at 52 amid covid-outbreak, and immediately consulted an advisor to stay afloat. She’s Katherine Ann McGrath, with an extensive experience. As of today, I'm only 15% short of my $1m goal after subsequent investments. She was recommended in one of the episodes and after due research, she was the woman for the job.
@@JuneHaussmann I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Katherine Ann McGrath for years and highly recommend her. Look her up to see if she meets your criteria
Remove the cap on income that's subject to social security taxes (currently $168,600)...problem solved. There's no reason for payroll taxes to be regressive when the rest of the tax system is progressive (higher earners pay a higher percentage).
This. America gave people like Elon Musk immense, untold opportunities for wealth accumulation. It's time we make it much harder to become a half-trillionaire.
The tax cap is aligned with the cap on SSI distributions. Are you saying the distribution cap will also be increased? Or you just want more wealth redistribution?
@@monjava There's no reason the cap has to be aligned with the distributions, and there's no reason to connect a person's lifetime earnings to their SS benefit. The point is to provide financial help to those who need it, so just do that and stop with the fiction of "Okay, you paid in X dollars, so you receive Y dollars at age 65." That makes it seem like an investment vehicle, which it's not. The money paid in is long gone and it's new money that's being paid out. Another way is to get rid of the payroll tax entirely and adjust federal income tax rates/brackets to generate the necessary SS funding. The tax code does not need to be as complicated as it is.
While my wife and I already have more than enough money saved for retirement, there are many, MANY people that don't have a red cent saved, so as much as I know it's fashionable to crap on the government, I'd trust them over the average person, who simply doesn't have the discipline to save.
Ricardo that has to be one of the dumbest comments on this video. Not only is continuous and unrelenting population growth unsustainable, it's historically impossible. The assumption that population will grow forever is how we're in this mess in the first place, why we're totally screwed in basically every economic sense as a nation. It is literally the embodiment of kicking the can down the road for the next generation to handle... Eventually, it's going to get kicked off a cliff
@@ricardoconqueso How many people can America host? If it not bursting now, it will when there physically impossible to have enough people for the said "Funding base" Infinity growth in a finite world is simply not possible. No matter what anyone says.
The reality is that most people are not going to save and invest in the stock market. Most people are living paycheck to paycheck and simply don’t make enough to invest, or they’re simply not financially literate enough to invest. I didn’t really understand saving and investing and how important it is to save for retirement until I was nearly 40, and by then look at the amount that you would have to save each month to reach that goal (luckily I started saving and investing for retirement before then because I was prompted to as part of the onboarding process and I figured why not). Social security is essentially social insurance against people being broke and destitute in old age.
"I used to say, Things cost too much.' Then my teacher straightened me out on that by saying, The problem isn't that things cost too much. The problem is that you can't afford it.'" Jim Rohn
That is the largest part, with the second being average rise in cost. I usually lump that in with the first however because there is not a large difference since they're controlled by the same people.
My dad is about to retire due to medical reasons. He never saved a penny his entire career. Social security is the thing keeping him from moving in with me.
Too bad more people don't take your advice. I am fairly old and I preach to my kids to take this stuff seriously. I think you are right on that SSI benefits will still be around but younger folks paying a larger portion of their paycheck than they do now. Good work!
As a millennial since I was knee-high I’ve been told that I won’t have social security so I’ve just lived my life expecting to pay into something I’ll never receive.
That breakdown of the social security money vs you investing it yourself is exactly why I incorporated. Now I pay myself dividends and avoid paying into social security all together. I invest it myself .
You're right, It's meant to be a safety net. The only issue with it is that not everyone is paying into it equally. If we got rid of the arbitrary cap and the rich paid equally as everyone else, we wouldn't be at the point where we have to decide to cut social security benefits or postpone retirement.
While working in a corporate position I did the math and learned I would not be able to retire until I was 74 years old. 401K and Social Security are not what they used to be. I decided to go for the government sector. No more SSN payments, and I get a pension to look forward to when I retire at 100% at 62 years old. A much better situation. Government is not for everyone, but should be considered for those who were in the same situation as I was.
What math did you do? No promotions or pay increases for 30 years? What would you need in 401k at 74? And WTF is a SSN payment? You still pay into social security if you work for the government 🤦♂️
@@leok7193If any math has you retired at 74 from the start of a career please get math help. Once you're committed to a serious retirement plan many can pull it off in 10 years 15 realistically and 20 in bad cases
I’m going on record and gonna say… if I paid into this my entire life, and when I can finally be on the receiving end, and they’re like “sorry… we don’t have any” we will take to the streets, mark my words… we ride at dawn
Solution is the government shouldn’t be be allowed to use social security as a bailout for unprofitable companies or government spending when they know we have a deficit
Canada’s CPP is successfully invested in equities and fixed income plus we have been increasing our contributions above inflation. There is no fear of it running out.
Social security isn’t only giving out money to people of retirement age. It goes to disadvantaged people at younger ages of life as well when they encounter certain hardships. My Dad for instance got some social security at 17 years old after his Dad died. There’s a reason it’s called “social security” rather than “forced communal retirement account”.
We vould fix the problem with SS by lifting the income cap... problem solved. Also SS has lifted literally MILLIONS of seniors out of poverty and saved their lives. Other countries can do this but america sucks at it because we dont want to actually tax the rich enough. The jordic countries have kuch higher tax rates, less debt, and better overall outcomes in health and happiness...its almost like we should try those already successful policies instead of cutting social programs to give tax cuts to the rich
In fact, we have been screwed since 2008. When the government bailed out the too big to fail banks and forgave them pretty much of any debt incurred due to horrible management of real estate mortgages in which the banks, instead of paying off the debt that they incurred attempted to capitalize on a growing stock market while they’re unrealized losses net in the trillions.
I LOVE this video. Its so honest. Anytime you relay on anything other then your own skills, its a bad idea or at least not as reliable as you doing your own work. This has nothing to do with politics. Its just a fact.
5:06 Or we have an immediate increase in the corporate tax rate by 40% (from 21% to 30%), and that would raise the same amount of money as raising the payroll tax rate by 14% to fund Social Security. It should come out of the pockets of businesses, not the individual.
So once again, the advice is to invest consistently in broad index funds and hold long-term. It truly is the way. And may I add, the more boring the index, the better, haha. Thanks for another great video, Graham! I have watched all your stuff as I have started to build my own wealth since like 2018. I was even able to buy a house a bit ago by myself.
Yes! As a millennial, I knew I had to change my whole career path to create evergreen businesses to not be dependent on social security. I love your content, Graham! Thank you so much for your helpful insights :)
You talk about current account, but what happened to the $1 TRILLION owed by the federal government to the Social Security System that it borrowed during Reagan and following presidencies? NO one talks about that! Pay back the Social Security System what it is owed, and it will be fine! The FEDERAL budget is what needs to be cut! NOT Social Security!
"Pay back the Social Security System what it is owed, and it will be fine!" Not true, the IOU money is accounted for in the social security trust fund amount which is on track to be depleted. Certainly we can be mad that the money was "lent" at treasury rates but its not like there is missing money.
@@link10909 The number of people that believe the government "borrowed" from Social Security is exhausting. Almost as exhausting as the number of people who do not understand that SS is a pay as you go program, that the government is not/has never been saving and investing money on their behalf, and the trust fund only existed to hold on to SS revenue in excess of SS outlays and we haven't been in that situation for years.
@@link10909 It's honestly hard to even complain about only getting treasury rates once you start thinking about the implications of doing otherwise. If the surplus was instead invested in the stock market then sure we'd get better returns but you'd end up with the government owning huge chunks of publicly traded companies. Who would exercise the voting privileges for all that stock, do we really want to further incentivize politicians to make decisions that are profitable in the short term but not in the long term?
I am not counting on getting any social security. I already retired at 52 and should have enough just from my own investments. If there is any money left for SS when I am 70, I'll take it and just consider it "longevity insurance".
My older cousins told me Social Security wouldn’t be around for me to collect back in 1976. The two parties waited until the last minute in 1983 to fix it when I was in college by moving back the full retirement age. They could fix it again by doing small amounts of the same four things, or more likely they will wait again and have to do larger amounts of change. George Bush wanted to privatize part of Social Security in 2005 and it sank like a stone. Social Security isn’t a retirement plan, it’s a safety net. Many European countries have a pension that pays 75% of your income, but Social Security was only meant to be about 40% of your income and Americans being rugged individuals and pioneers, are expected to save for retirement on their own. I have saved, but I also paid into Social Security and I expect to get it. Unfortunately, a lot of people failed to save and that money is all they will have, so it looks like the coming administration of billionaires wants to cut it, and we will see how they fare at the next election if they do if there are a bunch of homeless starving grandmas on every corner
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Grace Miller.
I'm celebrating a $30k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
THis is a common 'rich person' misconception about SS payments. It is true that if what was paid into SS was invested instead, it would be more money for the investor. However the common fact that is overlooked is that our 'capitalistic' system is rigged to keep people broke and working paycheck to paycheck. So if we done away with SS and gave wage slaves a 15% raise, health care, rent, housing, food, gas....all these prices would just go up 15% and people would be worse off after they retire. Involuntarily taking SS out of people's paychecks isn't done because the government doesn't trust people with their own retirement. Its to keep out of the hands of vulture capitalists who know how much everyone has saved and how much everyone makes and sets their prices accordingly.
Invest $420 per mo @20 years old? How is that even possible when most 20 year olds can't even afford to pay for food & shelter? It's an unrealistic benchmark. Not to mention the $930 monthly @30 & $2300 monthly @40 yrs old. All of it is ridiculous.
most 20 year olds have 700 a month car payments and a 150 a month cell phone bill. Scrap that and buy a 10 year old car and get a 25 per month Boost Mobile phone and viola, most can save 420 a month.
How about a 20% decrease is salaries to government employees. Then a 20% decrease is taxes. Tell the people it's up to them to retire and good luck. Your destination and legacy should be determined by you, not the government and it's programs. Cut ebt and programs like that in half. It's ridiculous
Inflation can create an illusion of growth. Investors should be cautious with their exposure. Consult an experienced financial advlsor if you can't manage these conditions.
The economy and stocks are two different things these days, but i agree, I think it's brilliant to have a portfolio advisor for investing! The market's instability makes DIY risky. You don't need to find the next NVDA to succeed in investing. I've turned 330k into $25k in quarterly dividends using a fiduciary, a major milestone.
She goes by "Melissa Elise Robinson" 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.
Social security is a hugely successful program. It keeps tens of millions of us out of poverty and can be fixed with minor adjustments for generations to come. Unfortunately, most retirees depend on it more and more an cannot afford a reduction in payouts.
Above everything is your health. It does not matter if you make 500k a year, if you are imprisoned within your own mind with chronic pain and the fear associated with it. If you are feeling good in your body mind and spirit then be thankful for that
America is presently besieged by the hydra-headed evil combo of inflation and recession. The worst aspect about this crisis is that consumers are piling up credit card debt. Credit card debt increased by 20% in April alone, while interest rates have doubled in a year. Inflation is so severe that customers are essentially going into debt to buy basic essentials. The collapse has certainly begun.
Every day, we face a new challenge. It has become the new normal. We felt it was a catastrophe at first, but now we know it's a new normal to which we must adjust. This year will be a year of great economic suffering across the country. What initiatives can we take to earn additional revenue during the period of quantitative adjustment? I can't afford for my hard-earned $200k to fall to dust.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
Mind if I ask you to recommend this particular coach you using their service?
I can't imagine a deflationary period isn't on the horizon.
Either that or a cap to the wages of the ultra wealthy to FORCE trickle down to occur
When ‘Melissa Terri Swayne’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@@PatrickLloyd- I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
I don't do anything special my CFA oversees it all. I've stuck with SOPHIE LYNN CARRABUS since the pandemic, and her performance has been consistently impressive. She’s quite known in her field with over two decades of experience, simply 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.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
The FED knows. They aren't committed to attacking inflation. They are going to continue to inflate, stocks and commodities will continue to go up with everything else. You can't just sit on cash waiting for a crash, get your money working for you, start buying in slowly and then gradually increase the pace of buying as the prices continue to drop
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Please tell me how can I connect to your advisor. My funds are being murdered by inflation, therefore I'm looking for a more profitable investing strategy to put my portfolio to work.
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 ‘’Annette Christine Conte” 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 a Google search for her name and came across her website; thank you for sharing.
Inflation and recession are caused by the Federal government spending more than it earns, because they just print more money to make up the difference. To solve inflation, reduce wasteful government spending. Your tax dollars should be spent well, not poorly.
I totally agree! It’s frustrating to see how government spending can lead to inflation, especially when they just print more money to cover the gaps. Cutting down on wasteful spending would definitely help ensure that our tax dollars are used more effectively. It’s all about being responsible with our resources.
I hear you on that! It's really important to be mindful of how government spending impacts inflation. If you're looking for more insights on managing finances or investments, consulting with a CFA could be a great way to get professional advice tailored to your situation. They can really help navigate these complex issues
I totally get what you’re saying! It’s so crucial to keep an eye on government spending and its effects on inflation. By the way, if you’re considering consulting a CFA, do you have someone in mind? I’d love to hear their name.
Oh, nice! My CFA is Sharon Ann Meny. She's been really helpful in guiding me through my investment strategies. Have you worked with any CFAs before?
Nah I haven’t. 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 email shortly.
My Mum turns 100 this month. She’s been on benefits for 40 years. She beat the system .
More like draining it lol
So are you saying that you'd rather not have your mom have it?
Don't worry, that's by design.
government wants her to move on...
@@cujo1050 What gives you that impression?
i am not surprise America is facing several financial challenges, but calling the situation "screwed" is an oversimplification. it's a fvked up situation the country as significant debt, rising inequality, and other systemic issues. it's killing our economy inside/out
the government can start somewhere like reducing inequality through progressive tax policies, improving access to education, and providing better job training for workers, if not the finance will keep going down making investors exist America stock like JP Morgan and co.
@@ClintonMathew-x1s you are right but for now, i don't have to think deep about America stock and index since i have sophie kathryn jones by my side to take care of my personal portfolio and also so don't worry Trump is here
@@MuhammadJame-l9u i just looked her up, also I have worked with a few financial advisors before now but i ultimately settled for ‘sophie kathryn jones. She is SEC regulated and licensed in US.
@@jiangjianqing2799 i also heard stories about this particular advisor, if she's that good no need of being worry what's going to happen if the economy/finance is going wild, i will check her out tomorrow.
Well, if musk, Trump and this NASA guy are working on getting themselves to Mars…clearly they have no plans to be or stay here.
My dad told me when I was young not to rely on Social Security, that it may or may not be there in the future so to save yourself. If it's still there at retirement, it's just a bonus.
Love this.
So your Dad prepped you to pay for his retirement and to expect nothing, sounds like a typical boomer
Good on your dad. I was told the opposite by my granddad. Pensions were still going to be a thing and SS will helpwith that and to basically not worry about it. Yeah...fucking oops.
It BETTER be there since they have been taking the money from us for ALL of our working years. It's OUR money. UGH.
@@ryanauburn prepped? it's not a choice, you have to pay into SS if you are employed in the US. His dad has no say in what happens to his son's SS. He was smart to warn him that you shouldn't rely on SS in retirement.
The 2.5% COLA for 2025 provides a modest increase in benefits for Americans receiving Social Security and SSI payments, helping to offset the rising cost of living and inflation. This increase offers essential financial relief for vulnerable populations like retirees.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars 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.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
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 ‘’Stacy Lynn Staples’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I don’t count social insecurity in my retirement. Im doing my own saving
I'm saving, but I absolutely count social security. Afterall, I've been paying into it for years.
@@TheFirstRealChewy So have I, but that doesn't mean it's going to be there. And if it is, it may be just a token amount to keep the masses quiet.
They will come for your savings as well
Relying on the government to save you is the worst plan. It’s not even enough money to survive .
Saaaame!
Fun fact, if the government collected the money you pay into social security and invested it for you, you'd make WAY more money.
Yep - I cover the comparison towards the end. You'd have roughly 2-3x more money in retirement if you invested it yourself.
Libs have a fit if you mention trying to do away with it. I'd rather cut my losses at this point and just keep my money from this point on and invest it myself. It might be cool to make it voluntary to opt out and maybe get some tax benefits to recoup the money already put in
that's not a fun fact, that's a sad fact LOL
Social security is a pyramid scheme
Definition of a Ponzie Scheme. Am I wrong?
I would like to opt-out of Social Security and just invest the money myself!
Most of us would probably take that deal
I'm curious, what would you do about seniors that made a poor investment choice and had no money at 65. Let them starve? Or die of cancer because they can't afford healthcare? Frankly, most people are probably not savvy enough to invest in their own over a 40 year period. And, my question is sincere, not meant to be smartass.
@@KristopherHesson i mean the same thing we should do about people before 65, if you end up homeless thats on you. you have to cut off a welfare state at some point. fact is more the goverment is involved the worst it ends up EVERY SINGLE TIME. so get them out of it, and im sure theyre would end up even less homeless at 65.
plus, ss doesnt pay particularly well, and it doesnt have a maximum income that it pays out to. rich can draw from it same as the poor. so its just a straight up bad solution, thats been abused for decades
100% this.
Churches, who own billions of dollars tax free, should take care of the poor. (The mormon church has 250 billion dollars, FYI).
@KristopherHesson
One note about car insurance: law abiding people who carry car insurance also carry "uninsured motorist". So basically you are paying the premium for the deadbeat who is going to hit you.
Insurance is socialism. Relieving people of personal responsibility has never been an ethic.
@@atari7001 LOL NO Insurance companies are PRIVATE not government owned. You clearly voted for the worst president in history again.
@@atari7001 It really is. You are legally required to have it, but insurance companies don't want to pay out if something happens?! Make it make sense.
In NY, uninsured motorist doesn’t even cover vehicle damages just personal injury. Found out the hard way
That's part of the arguments about why illegal immigrants are a problem. If they hit you, instead of you getting financial support you need they just skip out of the country and you're out of luck...happens.
My friends and I often talked about his in high school, that we wouldn't be getting Social Security and we were paying into the older generation. 30 years later, it's comforting to know it is still the same, yet to fruition.
I came to say the same thing.
Thirty years ago "they" said SS was going to be out of money in six years.
On the plus side, boomers are going to start passing away.
And, early on, SS was paid to widows that never paid into it but got all their husband's SS.
Maybe Social Security would have enough in the fund if Republican Representatives didn’t cut funding?
Did you not listen to the video? You will receive it, but likely 75% of it. Gesh..
@@Oaky Because the funding isn’t matching the usage, yes I watched the video, and also understand that the lack of funding social security to the levels it needs is being blocked by Republicans…
@@Dogmacracy As much as i hate republicans, democrats are not much better. Theyre corporate overlords have a chokehold over them. Theyre just morally a little better, but they obviously dont even believe that since theyve been aiding the genocide in gaza.
Or, hear me out... We tell the government to manage our taxes more efficiently. Billions are just "lost" every year, more taxation isn't the answer
This is true, we have an $800bn military budget but the Pentagon and MIC In general can't even provide receipts, where's our money going exactly
People complain about failed audits but then want to defund the audit and oversight services, which is what crooks want us to do..."Why are we bringing in so little in tax revenue? We should defund the IRS" is the same energy as "I saw crime, so we should defund the police."
You're ALMOST there. You're asking thieves to be more responsible about their stealing.
Hopefully the new Department of Government Efficiency will make this happen.
Not necessarily "more taxation" but fair taxation would help. Social security is taxed up to 168k, that means someone making 50k pays more social security than someone making 500k as a % of their income, that's bs
So I, as a millennial, have been paying my social security taxes my entire life, and the system likely will not even be in place by the time I retire. Great!
This isn't new information dude we've known all this information since before 2008 anyone who has said otherwise was lying to you kinda like the people who said going to college would get you a good job
This is why you learn how to never pay taxes lol
It will continue to be there, most folks demand it, to what extent and how much you will get paid out will depend on various factors!
It will still be there, it just won't pay as much as it does currently, or you will be taxed more to keep up with payouts, and you may have to file later in life or full retirement will be pushed out. It won't change until it reaches critical mass. Politicians are deathly afraid to discuss the issue or take any action because it will end their career.
Elect a bunch of people who aren't concerned about being a career politician and really want to make a difference and maybe change might happen.
@@fromzerotohero7989 The only way to avoid FICA tax is to not work. You pay 6.2%, your employer pays 6.2%.
I think it's important to note that the only reason tax increases have to be bad is for decades we saw this issue coming and never address it. The best way to fix this is always to tackle it as early as possible.
Neither party wants to be the one to raise taxes or extend retirement age. It will happen after the latest possible chance.
@@theo-avl There is only one party that refuses to increase taxes and continues to give more and more tax cuts...without any real cuts in expenses. Shouldn't be hard to figure it out.
Hang on, I'm waiting for Elon to come back from the future with a time machine, so we can go back and make social security suck a little less.
Having more people paying taxes would help the situation. Grabbing those who have lived here for years and sending them south is counter-productive. I wish more of my fellow R's would understand this.
@@FLPhotoCatcher they've not been given permission to understand this.
Social security was never intended to be a retirement account, it was only intended to keep people from starving but like most things it grew into something else.
Mainly because incomes haven’t kept up in this country
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.
Thats when you hire someone to manage your money. You need a financial-advis0r straight up!
A good number of people discredit the effectiveness of financial advisors in exploring new markets, 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 i'm financially secure.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
*TRUDY ELIZABETH STOUFFER* . .. 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.
Thank you for this amazing tip. I just looked up, wrote her explaining my financial market goals and scheduled a call
Enjoy life, the one thing that you cannot buy is time. Invest in yourself and add value to the world and you will never have to worry about money.
The world is dying. All of it. Eventually, the sun will run out of fuel, expand and swallow us all, but we will most certainly destroy ourselves before then. Nothing is permanent, nothing you do here matters. You cannot add value to a sinking ship.
Cute sentiment, though. Fairy tales are cute.
@@Prolific_Trollbooooooooooo
@@Prolific_Trollprolific
This is terrible personal financial advice. Reading books from the public library and giving half your income to charities is a sure way to worry about money your whole life.
Here’s something better:
Learn to enjoy life without constant unnecessary spending. Gain marketable skills and authority, and keep a budget.
You can’t buy time, but debt and uncontrolled spending will consume your entire life.
@@SuperCoon88 You are right, that the advice given is not the best financial advice. However, his point is that money is not all that matters. Even though you can be consumed by uncontrolled spending and debt, you can also be consumed by the dollar. And there are plenty of people who laid on their death bed regretting how much time and stress they spent on the dollar. It's good to free yourself from financial stress, by budgeting properly and planning for your future. But it is just as important to simultaneously live life while you are young. What good does it do to spend 40 years becoming a multimillionaire if you can't walk or breathe by the time you're 65? What are you supposed to do with your millions besides paying for home care treatment? And then at that point, you spent your whole life preparing for death, which is just silly. You skipped out on nights out with your friends, vacations to near or far destinations, all to pay for life support for a couple more weeks to miserably lay in a bed where you can't do anything anyway. It's important to remember that moderation is the key to everything. Moderate saving, moderate future planning, but also moderate fun experiences and impulsive spending on things that make you happy.
No one is retiring in America!! We’re all saving our money and leaving by 50 to go somewhere more affordable and live modestly off of what we have saved!
where do you plan on going? i am always curious to hear people’s destinations
Where to brother
Belize
I'm 38 and I DREAM of the day I become an expat.
That's great that you would abandon your country. There are other ways. Aside from that, Going to retire in other countries doesn't quite always workout as you hoped.😮
Okay, so I’ve got $89k sitting pretty in my emergency fund, ready to make it rain in the investment world… but should I even look at real estate? This video makes me feel like buying a house in 2025 is the equivalent of setting money on fire. Stocks seem cooler, but is it risky to put all my eggs in one basket? Someone give me the cheat code!
Many people are looking for additional income as a result of the shifting economy, and I'm thinking about investing in the stock market to accomplish my $3 million retirement target. But the recent market meltdown is worrisome.
Most people believe that specialised knowledge may solve their problems, they can also seek advice from an expert advisor.
Though I haven't taken the initiative, I have been thinking about obtaining one. Is it possible for you to suggest your advisor? I would really appreciate any help.
Wouldn't the value of the dollar go down due to inflation if the govt collects money through tariffs? Maybe some govt backed securities?
Market meltdown?? The market is up in Q4
I think Graham actually did a video where he had a monkey pick the stocks and it made money so you can do it yourself. I have dividend stocks making about $140 a month currently and everything is doing ok. I didn't see any meltdown.
I’m fine i just learned from graham over the years. Buy stocks and use high yield savings, be tax advantaged if possible and rinse repeat. Nothing to worry about. Networth currently is 10x vs when I first started watching graham years ago!
From $37K to $65K that's the minimum range of profit return every month I think it's not a bad one for me, now I have enough to pay bills and take care of my family.
Yeah, since meeting Shellane Maxwell, I now agree that with an expert managing your portfolio, the rate of profit high, with less risk.
I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance
She's my family personal Broker and also a Broker to many families here in the United states, she is a licensed Broker.
Can't share much here, SHE’S MOSTLY ON TELEGRAMS WITH HER NAME.
@Shellanemaxwell she's verified
There’s a cap for social security. High earners don’t pay the full percentage of their income. Make the rich pay more. It’s really simple, actually.
Unfortunately we still couldn’t pay it need to pay this debt down
They also only get benefits for the amount that they pay. Scamming successful people for your benefit is not the answer
Literally this is the answer that everyone chooses to ignore. Really simple too...
Yeah. Our country is so dedicated to the billionaire class we can’t even bring this up in current poltics. They have gotten so insanely rich due to Reagan era tax cuts and now they will never give anything back except for soulless shitty monpolistic corporate jobs.
With copytrading, you could be sipping coffee on a balcony overlooking a bustling city skyline or lounging on a pristine beach, all while your investments work for you. Picture the freedom to pursue your passions, travel the world, and create lasting memories with your loved ones, all because you took the initiative to harness the power of copytrading and build the life you've always dreamed of.
Do you invest with a professional broker? I'd appreciate it if you show me how to go about it.
Use her name to quickly conduct an internet search.
SHE’S MOSTLY ON TELEGRAMS APPS WITH HER NAME.
Sophiahaney she’s verified
thanks for putting this out, curiously inputted Sophia Haney on the internet, spotted her consulting page no sweat, and was able to schedule a session ... she actually shows a great deal of expertise from her resumé
Wait, what, I'm paying for a road I never drive on? Where is this road. I want to go drive on it and get my money's worth.
:o
There are a lot of short-sighted people here who just don't understand what it takes to have a 1st world country. We are never going to get 100% out of what we put in. It's like a car. You put gas in your car to take you from A to B, but car engines are not efficient; in fact, they only get about 20% power output from all their gets put in; the rest is waste. Are you not going to drive now because of this? No, people are still driving because the ends justify the means
Retire as early as you can. Stop paying into a system that the government has no plans to pay you back.
That's stupid. Rushing to retire means saving as little as possible and cutting off your income stream.
By that logic, you can retire on 2k a month in your 20s, and live in your car for the next 50 years. Or enjoy life while working into your 50-60s and retire without downgrading your lifestyle. Those decades of saving and interest is what makes the difference.
And some people think the government can somehow afford to swing a UBI as well🙄
Thank you for helping to educate people in raising awareness for financial literacy you do really good work and I recommend your channel all the time
The government "invests" SS into treasury bonds which basically means the cash is fungible and used to fund government across the board. It is not sitting in a Vanguard account waiting for you to hit retirement.
Easy fix: Remove the Social Security tax cap.
that's one way to fix it!
While that doesn't solve all of the problem, it does solve 70% of it and I'm kinda stunned this hasn't been done decades ago. Actually, I'm not stunned. It's a tax and no politician wants to be known as raising taxes, so it's no surprised they kicked the can down the road.
I'd also add that 10% of the money should be invested in the market, specifically, the S&P 500 Index, which has always given 10% rates of return no matter what 30 year block of time you look at. We can aim for a 4% rate of return, instead of the paltry 2.4% we get now.
I'd also progressively increase the tax by maybe 0.25% for every $100K you make over $300K and cap the increase at maybe a million. We could play with the numbers. Right now, it's 6.2%. I'd argue that a person bringing in a million a year can handle, I don't know, 7.5%. Again, we can fiddle with the numbers.
@@dontbanmebrodontbanme5403 We have super-wealthy oligarchs in power. Do you think they'll allow this?
and set a max benefit!
this is the answer
XAI860F has 5x the week but that is not even uncommon for their ideas
My family member told me since I was in College social security is a waste and he could do so much better with that money. He went on making nearly 250k a year with his business. Now he is retirement age and says I have more saved than he does. I asked what happened with your investing over the years. He said well I had to take loans against my 401k, had a divorce, and even pulled money out when the market dropped in the recession. A lot people talk but not many walk. FICA helps more than people realize.
5:31 bro's literally just fearmongering here saying there is no options. One of those options was to remove the 400k cap for paying into social security!! Anyone making less wouldnt see an increase in taxes
100% agree, but the cap is $168k, if it was ~$400k then it would become solvent. It was originally designed to have over 95% of taxable AGI pay into social security, $168k is closer to 85% of national salaries.
This 1000%. There should be no cap.
This wouldn't make it solvent either. Higher earners draw more SS
In high school my economics teacher told us that by the time my generation retired, social security will have run out by the time we even got there. That stayed with me ever since and it literally just meant to me that we should be taking our retirements in our own hands and the earlier the better to start planning.
Being able to grow your retirement plan risk-free and tax-free, is two things everyone wants but unfortunately most have never been taught.
I'm retired at 27, went from Grace to Grace. This video here reminds me of my transformation from a nobody to good home, honest wife and 35k biweekly and a good daughter full of ❤️
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Yeah, 253k from Sofia Duke, looking up to acquire a new House, blessings.
Stawrted with 5,000$ and Withdrew profits
89,000$
I'm glad to write her tay I do hope she will help handle my paycheck properly☺️☺️☺️
Can I start with as low as $1,000?
I never wanted to rely on social security when i got older... Id rather build a business that can provide my family generational wealth.. what else are we here for then to make sure our future family are more comfortable than what we were....
Social Security won’t even be able to pay my taxes.
No social security is not running out... it's more complicated than that. It's taking seniors out of poverty
But experts predict it will run out by 2033, where are you seeing differently?
SS is absolutely running out. Every year it has less in the Tbill fund than the year before.
Around 2031 or 2032 there will be nothing left to withdraw and there will be an across the board reduction of 23% unless they increase the retirement age or make us all pay more to fund SS.
Why would you say it's not running out? You can literally check out the trust fund balance each month and see it deplete.
It's absolutely depleting.
12%, with employer match, of their lifetime earnings invested on their behalf would’ve been much more effective
It’s like a government Ponzi Scheme 😂
It's solvent when the younger group outnumbers the retired group
@@ricardoconqueso Like a Ponzi scheme when the suckers outnumber those who cash out?
@@TheRobinGoodfellow Well, that's the thing about SS, you can't "cash out." You can claim some of what you put in. Not all "pay it forward" scenarios are Ponzi schemes. There are a lot of other differentiating factors, but some people just want to be mad and write the whole thing off instead of fixing the issue. The issue being the "ladder pullers" who removed the very support pillars that were set up for them by their parents and that they themselves benefited from. Why is SS insolvent? Because certain people gutted it and cashed it out. Why is higher education so expensive? Because certain people gutted it and cashed it out. Why have our school scores slipped? Because certain people gutted it and cashed it out. Why is healthcare unaffordable? Because certain people gutted it and cashed out.
Bingo
My mom was recently told by her accountant that b/c she contributed too much money to her IRA, she had to take out a certain amount of money from her IRA when she retired, which will disqualify her from getting the social security she paid into her whole life…so criminal!
It's a ponzi scheme. As you noted it should have been earmarked accounts designated for each citizen. As it stands it's a pension system for pensioners who either overpay or underpay into their pensions. Terrible policy creation.
Not exactly. You're paid according to. adjusted earnings for inflation, taking the 35 highest-earning years of a person's career and Averaging those earnings. The SSA calculates a person's PIA by applying a formula to their AIME. The formula breaks down a person's average monthly wage into three parts:
90% of the first $1,174 of their AIME
32% of any amount over $1,174 up to $7,078
15% of any amount over $7,078.
@@ricardoconqueso It's not communism? Do tell!
You ignore the disability side of the program. It’s an insurance program so look at it that way; as Graham properly explained in the video. No one knows how long they can work or how long they will live. The government also sponsors investment vehicles (IRAs, 401k, etc) that you are welcome to participate in.
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Francine duguay program is widely available online..
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2:18 So they created social Security at a time when they don't even expect you to live long enough to collect Social Security.
You know, a lot of people from South America would love to come here and help solve this problem
Chile has a largely private system for retirement. It's similar to Australia's superannuation scheme.
No bull run can exist without the impressive XAI860F
Trash
There should be no property tax after the age of 62 on your primary residence.
I would support that. I already know I am not getting social security at all. This will be dissolved before I'm of age. So at least the tax benefit I can really benefit from and know that it won't disappear.
That’s a great idea, but age-wise I’d say whatever the social security benefit age is at the time, not 62. Maybe 65 or 67. The idea that we pay out social security benefits so that the retirees can pay property tax with it seems silly. Reduce social security benefits and reduce property taxes
Social Security is not and never was intended to be a retirement program. It was intended to be part of the three legged stool that included savings and pensions, which have become very rare. It’s primarily an insurance program that ensures a safety net for retirees, the disabled, widows and children. My own father passed away when we were kids andmy mother raised us with the help of survivor benefits. So when you contribute to Social Security, you’re actually contributing to the well-being of the entire society.
Sadly, most people don't care enough about others to appreciate that fact. They only care about their own well-being .
Yeah, social security being so screwed up sucks, but reading the comments from people who rage about having to pay in, or complain about people on disability, makes me a little sick to my stomach. What do they want to do- euthanize the elderly and disabled?
If people can't even dredge up the decency to accept that some individuals might lose some money so that others can survive then they really are awful. 😢
I am bullish for $XAI213K and $NEXO only!!
They’ve been telling us social security is going to become insolvent for several decades now and not going to be around, but it’s still there. The benefit has never been cut or reduced, but has actually been increased.
@3railmike713, I been receiving SSA since Oct. 2019 it arrives every month so far and it is kind of happy feeling receiving that extra money in the middle of each month. For me it is not that much most likely because I would have like $58.00 deducted for 36 years I worked in day job.
But now that I am older it is nice to receive it. I also receive Pension from my many years of working. I been retired since 2015 so that been a while and I was able to pay for my cost of living from Pension money only. It all depends on each person situation. Great comment.
Most likely why SSA will never go away is there many disable people who all depend on this source of income. To me SSA does service very needed service. That just my opinion.
adjust that by inflation and think again
My 87 mom lives on her social security check of $1240 per month plus a rental payment income from her tree farm of $500 per month. So $1740 per month. The tree farm pays her taxes, insurance, and HOA fees. She spends so little she saves money each month for a rainy day. Yes her savings grow each month. Most people could learn a bunch on cheap living from her. For example She hangs her laundry to dry in her garage. Her electric dryer is 25 years old and has been used less than ten times. She would scalp anybody who wanted to enrich the electric company by using her dryer. Bottom line she does not spend money without a fight....
She lives in 1950, got it. Modern world, hard to do that. It's a good skill to have, but people that are going out and progressing the world might not have time for this.
Your mother and I have a lot in common. Good for her, good for me.
You have 87 mothers? That’s crazy
My grandmother does that but going to visit is sooooo cold in the houses it’s colder inside than outside it feels like
The problem is that if everyone loved this way, society would collapse
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I'd suggest you discuss with a proper advisor, particularly if you're new at investing or facing uncertainty. I personally have over 180 companies in my portfolio, so if few companies fail, I still have others that can hold me up.
I'm quite lucky exposed to personal finance at an early age, worked full time when I was 19, purchased first home at 32. Going forward, got laid off at 52 amid covid-outbreak, and immediately consulted an advisor to stay afloat. She’s Katherine Ann McGrath, with an extensive experience.
As of today, I'm only 15% short of my $1m goal after subsequent investments.
She was recommended in one of the episodes and after due research, she was the woman for the job.
@@LandbergPaysinger
excellent! how did it work out for you? been on red more than 20% this year , but hoping to bounce back
@@JuneHaussmann
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Katherine Ann McGrath for years and highly recommend her. Look her up to see if she meets your criteria
@@LandbergPaysinger Thanks.
Remove the cap on income that's subject to social security taxes (currently $168,600)...problem solved. There's no reason for payroll taxes to be regressive when the rest of the tax system is progressive (higher earners pay a higher percentage).
This. America gave people like Elon Musk immense, untold opportunities for wealth accumulation. It's time we make it much harder to become a half-trillionaire.
The tax cap is aligned with the cap on SSI distributions. Are you saying the distribution cap will also be increased? Or you just want more wealth redistribution?
Taxes are already progressive, more tax never solves anything, we need to stop wasting tax payer money and there would be enough
Figure out how to save your own money Elon will never use ss why should have pay a bunch in.
@@monjava There's no reason the cap has to be aligned with the distributions, and there's no reason to connect a person's lifetime earnings to their SS benefit. The point is to provide financial help to those who need it, so just do that and stop with the fiction of "Okay, you paid in X dollars, so you receive Y dollars at age 65." That makes it seem like an investment vehicle, which it's not. The money paid in is long gone and it's new money that's being paid out. Another way is to get rid of the payroll tax entirely and adjust federal income tax rates/brackets to generate the necessary SS funding. The tax code does not need to be as complicated as it is.
I flat out don't trust the government to take care of me so I will plan accordingly. Hopefully there is a movement of the same mentality.
A lot more ppl are doing that no one depends on the government anymore .
While my wife and I already have more than enough money saved for retirement, there are many, MANY people that don't have a red cent saved, so as much as I know it's fashionable to crap on the government, I'd trust them over the average person, who simply doesn't have the discipline to save.
Who could ever predict that a pyramid scheme will start to run out of money?
It can remain solvent if the funding base is larger than the retiring group. We need more people, either via higher birth rates or immigration.
Ricardo that has to be one of the dumbest comments on this video. Not only is continuous and unrelenting population growth unsustainable, it's historically impossible. The assumption that population will grow forever is how we're in this mess in the first place, why we're totally screwed in basically every economic sense as a nation. It is literally the embodiment of kicking the can down the road for the next generation to handle... Eventually, it's going to get kicked off a cliff
@@ricardoconqueso How many people can America host? If it not bursting now, it will when there physically impossible to have enough people for the said "Funding base"
Infinity growth in a finite world is simply not possible. No matter what anyone says.
The reality is that most people are not going to save and invest in the stock market. Most people are living paycheck to paycheck and simply don’t make enough to invest, or they’re simply not financially literate enough to invest. I didn’t really understand saving and investing and how important it is to save for retirement until I was nearly 40, and by then look at the amount that you would have to save each month to reach that goal (luckily I started saving and investing for retirement before then because I was prompted to as part of the onboarding process and I figured why not). Social security is essentially social insurance against people being broke and destitute in old age.
3:18 To me it's not inflation, but corporate greed. They just want to make the same amount of profit, or more profit from their last year in business.
The show doesn't stop, until the last money drops.
"I used to say, Things cost too much.' Then my teacher straightened me out on that by saying, The problem isn't that things cost too much. The problem is that you can't afford it.'" Jim Rohn
That is the largest part, with the second being average rise in cost. I usually lump that in with the first however because there is not a large difference since they're controlled by the same people.
I know how you get rip off. Put your money in a”bank” sponsored by your favorite TH-camr.
My dad is about to retire due to medical reasons. He never saved a penny his entire career. Social security is the thing keeping him from moving in with me.
Another fun fact, you are also prob financially screwed if you followed Stephen graham’s recommendations
Too bad more people don't take your advice. I am fairly old and I preach to my kids to take this stuff seriously. I think you are right on that SSI benefits will still be around but younger folks paying a larger portion of their paycheck than they do now. Good work!
Grab a XAI860F a day keep the doctor away
What is that?
As a millennial since I was knee-high I’ve been told that I won’t have social security so I’ve just lived my life expecting to pay into something I’ll never receive.
That breakdown of the social security money vs you investing it yourself is exactly why I incorporated. Now I pay myself dividends and avoid paying into social security all together. I invest it myself .
1:42 And nobody will care more about your money than you do.
This alone is the greatest example of how our government is either corrupt, misguided, or stupid.
Graham Stephan is always behind the curve by remaining comfortably within the Overtone Window.
You're right, It's meant to be a safety net. The only issue with it is that not everyone is paying into it equally. If we got rid of the arbitrary cap and the rich paid equally as everyone else, we wouldn't be at the point where we have to decide to cut social security benefits or postpone retirement.
While working in a corporate position I did the math and learned I would not be able to retire until I was 74 years old. 401K and Social Security are not what they used to be. I decided to go for the government sector. No more SSN payments, and I get a pension to look forward to when I retire at 100% at 62 years old. A much better situation. Government is not for everyone, but should be considered for those who were in the same situation as I was.
What math did you do? No promotions or pay increases for 30 years? What would you need in 401k at 74?
And WTF is a SSN payment? You still pay into social security if you work for the government 🤦♂️
@@leok7193If any math has you retired at 74 from the start of a career please get math help. Once you're committed to a serious retirement plan many can pull it off in 10 years 15 realistically and 20 in bad cases
What advantages are there to working for the government? I am interested in doing this myself.
I’m going on record and gonna say… if I paid into this my entire life, and when I can finally be on the receiving end, and they’re like “sorry… we don’t have any” we will take to the streets, mark my words… we ride at dawn
Social Security was never meant to be your sole source of retirement funds
Yeah just meant to shake you down and steal your money and only give some back.
Seems like a great program
Solution is the government shouldn’t be be allowed to use social security as a bailout for unprofitable companies or government spending when they know we have a deficit
Took them five years to polish XAI860F at $1 it is just perfect entry
Canada’s CPP is successfully invested in equities and fixed income plus we have been increasing our contributions above inflation. There is no fear of it running out.
They already mentioned they’re increasing social security tax next year. Squeezing more money out of Americans. Thanks!
You know Trump is removing social security tax..... right??
@@xrp_millionaire You know Trump is removing the tax on social security benefits not removing social security tax..... right??
No they didn't. The rates remain 6.2% for next year. Only the cap is increasing to $176,100, which many of us do not even come close to making.
@@xrp_millionaireThat’s not what he’s proposing. He proposed that there be no taxation on social security benefits collected by seniors.
@@xrp_millionaire I know he’s trying to get rid of tax for overtime
Social security isn’t only giving out money to people of retirement age. It goes to disadvantaged people at younger ages of life as well when they encounter certain hardships. My Dad for instance got some social security at 17 years old after his Dad died.
There’s a reason it’s called “social security” rather than “forced communal retirement account”.
We vould fix the problem with SS by lifting the income cap... problem solved. Also SS has lifted literally MILLIONS of seniors out of poverty and saved their lives. Other countries can do this but america sucks at it because we dont want to actually tax the rich enough. The jordic countries have kuch higher tax rates, less debt, and better overall outcomes in health and happiness...its almost like we should try those already successful policies instead of cutting social programs to give tax cuts to the rich
In fact, we have been screwed since 2008. When the government bailed out the too big to fail banks and forgave them pretty much of any debt incurred due to horrible management of real estate mortgages in which the banks, instead of paying off the debt that they incurred attempted to capitalize on a growing stock market while they’re unrealized losses net in the trillions.
I LOVE this video. Its so honest. Anytime you relay on anything other then your own skills, its a bad idea or at least not as reliable as you doing your own work. This has nothing to do with politics. Its just a fact.
5:06 Or we have an immediate increase in the corporate tax rate by 40% (from 21% to 30%), and that would raise the same amount of money as raising the payroll tax rate by 14% to fund Social Security. It should come out of the pockets of businesses, not the individual.
I disagree.
Thankfully, as a pastor I opted out of social security. So I don't need to worry about that
So once again, the advice is to invest consistently in broad index funds and hold long-term. It truly is the way. And may I add, the more boring the index, the better, haha. Thanks for another great video, Graham! I have watched all your stuff as I have started to build my own wealth since like 2018. I was even able to buy a house a bit ago by myself.
Yes! As a millennial, I knew I had to change my whole career path to create evergreen businesses to not be dependent on social security. I love your content, Graham! Thank you so much for your helpful insights :)
Great video. I am ballsdeep for XAI860F and love your review for that as well
Think that this is just spam, then you'll never change your life to something which is worth it. Elon has a clear plan here and that's gonna unfold
lol Elon said something about this when he talked to Lex I recall
wait it's out already?
But this is no meme right?
Elon is a smart one with this, faster than anyone else
You talk about current account, but what happened to the $1 TRILLION owed by the federal government to the Social Security System that it borrowed during Reagan and following presidencies?
NO one talks about that! Pay back the Social Security System what it is owed, and it will be fine!
The FEDERAL budget is what needs to be cut! NOT Social Security!
"Pay back the Social Security System what it is owed, and it will be fine!" Not true, the IOU money is accounted for in the social security trust fund amount which is on track to be depleted. Certainly we can be mad that the money was "lent" at treasury rates but its not like there is missing money.
Let's go Elon and Vivek!
@@link10909 The number of people that believe the government "borrowed" from Social Security is exhausting. Almost as exhausting as the number of people who do not understand that SS is a pay as you go program, that the government is not/has never been saving and investing money on their behalf, and the trust fund only existed to hold on to SS revenue in excess of SS outlays and we haven't been in that situation for years.
@@link10909 It's honestly hard to even complain about only getting treasury rates once you start thinking about the implications of doing otherwise. If the surplus was instead invested in the stock market then sure we'd get better returns but you'd end up with the government owning huge chunks of publicly traded companies. Who would exercise the voting privileges for all that stock, do we really want to further incentivize politicians to make decisions that are profitable in the short term but not in the long term?
plunging birth rates played a huge role in social security insolvency. This has been actuaries concern for decades.
Been collecting the XAI860F this cycle as that has the right place in this time
I am not counting on getting any social security. I already retired at 52 and should have enough just from my own investments. If there is any money left for SS when I am 70, I'll take it and just consider it "longevity insurance".
My older cousins told me Social Security wouldn’t be around for me to collect back in 1976. The two parties waited until the last minute in 1983 to fix it when I was in college by moving back the full retirement age.
They could fix it again by doing small amounts of the same four things, or more likely they will wait again and have to do larger amounts of change.
George Bush wanted to privatize part of Social Security in 2005 and it sank like a stone. Social Security isn’t a retirement plan, it’s a safety net. Many European countries have a pension that pays 75% of your income, but Social Security was only meant to be about 40% of your income and Americans being rugged individuals and pioneers, are expected to save for retirement on their own.
I have saved, but I also paid into Social Security and I expect to get it. Unfortunately, a lot of people failed to save and that money is all they will have, so it looks like the coming administration of billionaires wants to cut it, and we will see how they fare at the next election if they do if there are a bunch of homeless starving grandmas on every corner
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Grace Miller.
I'm celebrating a $30k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me
The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Dont forget all the people receiving social security checks who never contributed who are young adults.
THis is a common 'rich person' misconception about SS payments. It is true that if what was paid into SS was invested instead, it would be more money for the investor. However the common fact that is overlooked is that our 'capitalistic' system is rigged to keep people broke and working paycheck to paycheck. So if we done away with SS and gave wage slaves a 15% raise, health care, rent, housing, food, gas....all these prices would just go up 15% and people would be worse off after they retire. Involuntarily taking SS out of people's paychecks isn't done because the government doesn't trust people with their own retirement. Its to keep out of the hands of vulture capitalists who know how much everyone has saved and how much everyone makes and sets their prices accordingly.
Exactly! People cannot afford housing now because of this exact reason!
This is a common 'ignorant person' misconception about economics. Communism doesn't work you dolt!
Bot!
Building Residual Income streams is the best way to create financial freedom.
Invest $420 per mo @20 years old? How is that even possible when most 20 year olds can't even afford to pay for food & shelter? It's an unrealistic benchmark. Not to mention the $930 monthly @30 & $2300 monthly @40 yrs old. All of it is ridiculous.
I did almost that for the last 10years and I have over 100k in my 401k. I’m 29 and I have never made more than 65k
most 20 year olds have 700 a month car payments and a 150 a month cell phone bill.
Scrap that and buy a 10 year old car and get a 25 per month Boost Mobile phone and viola, most can save 420 a month.
How about a 20% decrease is salaries to government employees. Then a 20% decrease is taxes. Tell the people it's up to them to retire and good luck. Your destination and legacy should be determined by you, not the government and it's programs. Cut ebt and programs like that in half. It's ridiculous
What is the best way for me to avoid inflation eating up my cash reserve of about 200k while investing it?
Inflation can create an illusion of growth. Investors should be cautious with their exposure. Consult an experienced financial advlsor if you can't manage these conditions.
The economy and stocks are two different things these days, but i agree, I think it's brilliant to have a portfolio advisor for investing! The market's instability makes DIY risky. You don't need to find the next NVDA to succeed in investing. I've turned 330k into $25k in quarterly dividends using a fiduciary, a major milestone.
"Kimberly Grace Flanagan" is the advlsor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
She goes by "Melissa Elise Robinson" 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.
Social security is a hugely successful program. It keeps tens of millions of us out of poverty and can be fixed with minor adjustments for generations to come. Unfortunately, most retirees depend on it more and more an cannot afford a reduction in payouts.
But it’s not guaranteed !! So it is theft. The money you put in is not there. It’s been spent
yeah, it's not for you, it is for your parents and all the freeloaders
Above everything is your health. It does not matter if you make 500k a year, if you are imprisoned within your own mind with chronic pain and the fear associated with it. If you are feeling good in your body mind and spirit then be thankful for that