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It's interesting to see how some in the older generation are choosing to sell their homes to move into corporate-run assisted living facilities, often funded by investment banks. This decision not only affects family inheritances but also contributes to inflated housing prices. By limiting new construction, they’ve made it harder for younger generations to find affordable homes. ^^^ This is not what I really wanted to type but youtube kept censoring my comment anytime I mentioned the name of that generation. Good job youtube. Let's continue to coddle those people until they are gone....
My dad's retirement plan was "death." In reality, once he got too sick to work, he moved in with me for the rest of his life. I love him and was happy to do it, but it only worked because my husband and I both worked good jobs, and lucked into a house with crazy below-market rent.
Mine is the reverse. My sister and I still live with my parents, but we pay for almost everything. Even their vacations. We don't really mind, of course, but yeah. They had no retirement plans, and will definitely not be able to make it with just SSI.
I keep telling my kids, the greatest gift we can give them is to have enough money to never need to pay for us, so just because we have the cash to pay something doesn’t mean we can afford to so.
Many people, especially those without access to employer-sponsored retirement plans, simply don’t have enough in savings or pensions to cover their expenses when they stop working.
People are living longer than ever, which means retirement savings need to stretch further, and for many, that money just doesn’t last as long as it used to.
Healthcare expenses increase with age, and for those without substantial savings, these costs can be a significant barrier to a comfortable retirement.
Stagnant wages over the years have made it hard for many to save adequately, leaving them financially unprepared to retire when they reach traditional retirement age.
I got laid off at 55 , first time in my life. Took 6 months to find a job. I feel lucky and blessed to be working for the same money. It’s rough out there
it helps you had experience, you're just below the threshold where they can expect a decent couple more years out of someone with a proven track record of employment (plus experience and skills) whereas there's millions of new graduates every year with the same degree where 7 or more people are fighting for the exact same entry level position which requires 2 years of experience. Doesn't help either that at every level people are posting openings for jobs online (the only place they'll accept applications) which don't actually exist at all just so they can receive government subsidies. our labor market is completely upside down currently
I recently read the phrase, "We're not living longer. We're dying longer." Our lives have been extended, but that doesn't mean our working years have been extended as well. As a retired blue collar worker, I can tell you that many of us are physically wrecked and exhausted by the time we're 60.
I wonder if this is better or worse than working on a farm until you are dead (which is around 95% of recorded human history). I guess farming is healthier back in the day before fertilizers and pesticides, but it was mostly reliant on mother nature's will.
Of course. But to retire would mean shoot yrvown foot. So ideally companies (and govt) should plan for this through better career planning. It wasnt necessary before coz everybody died shortly after, but now we need the young to do the hard work, and the elder to do office work. There needs to be a guided transition, maybe at 50 not 60.
I'm in your physically wrecked boat. Years on concrete floors, manditory OT, labor intensive, suffering through repetitive motion injuries and arthritis turning you into a brick by 60. I have only stayed past 60 because the benefits and pay are great. Not going to be able to stay til 67.
@@floofdecat Before you take a combative approach and tell someone they're wrong, you should try to recognize if you're talking about the same thing they are. You're talking about life expectancy. They're talking about farming being healthier before wide spread mass use of pesticides. You're right that life expectancy is better today than it was centuries ago, however, that's due to modern medicine, not farming. They're right that modern farming's use of dangerous chemicals is more harmful than traditional farming.
I’m 58 retiring next year but the thought of retirement gives me weakness. 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 or loved ones 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.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
My CFA ‘Grace Adams Cook’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
People also have less siblings, so caring for elderly parents is often falling on only one or two peole. A society where one is expected to take care of two elderly parents, have at least 2.1 children, and still earn enough money to maintain all of that is simply nom existent.
That's true. We are about 4 brothers in my family. My mother is old and has no pension. But she is comfortable because we pull our resources together to support her. On the other hand, my wife's parents have only 2 kids. Her and her sister and she is the one doing ok, so the burden is solely on her to support them. 😢
I see too often that prople with more children are at the end the burden of 1 child, the others forget about them. Or are left behind in a retirement home, alone. To be old can be so lonely and to have children is not a guarantie we will not be alone at the end.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
I'm 62, and rising prices have derailed my retirement plans . I worry that today's economic conditions are more challenging than ever. The stock market's unpredictability, coupled with reduced income and soaring inflation, makes me anxious about having enough for retirement.
I've found working with a fiduciary advisor has been invaluable in navigating market uncertainty. Their expertise in risk management and hedging has helped me grow my retirement savings significantly to almost a million. With their guide, I've learned to diversify effectively, manage risk, adapt to changing market conditions. Their strategic approach has given me peace of mind and improved my financial outlook.
Sure! I work with Glen Howard Chester and is NY-based. Just search the name & check if he meets your requirements, You’d find necessary details to work with to set up an appointment.
Just copied and pasted his name on the web, easily spotted his consulting page and was able to schedule a call session to discuss further. Thanks for sharing
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $380k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
Finding financial advisors like Sophia Maurine Lanting who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I’m 38, finally got a good job a couple years ago right when inflation and housing went bonkers. I don’t expect to retire or own a home. I’ll just focus on work life balance and enjoy my time now. When I can’t physically work anymore…I’ll ride out into the desert.
@@BranniganCarter Honestly, at this point, I may do the same. I make more in my life now than I ever have by a substantial margin, yet a home is mostly out of reach. When I feel like I’m done, I’ll write myself a .40cal love letter.
@@CharlieKellyEsq I think you get to watch the slow crash of the economy from a front row seat then. Almost the entire economy is service-based, and these people can't afford services, so they won't spend. (Womp-womp recession noises.)
@@Knofbaththis is only a problem if you are a consumer. The answer is to take advantage of the situation and profit from it. AKA, open a retirement home, take control of the retirey's benefits, and use it to enrich yourself. Morally dubious, but they'd be homeless anyway.
People who say they will work until they die assume that they control that choice. Most people over 50 who leave their jobs were forced out. I always had top score performance reviews and regular promotions but when I got into my mid 50s my boss told me I should be planning my exit strategy. All promotions stopped and performance all of a sudden was only fair. Fortunately I’d saved so am fine but it was heart breaking since I’d devoted myself to and had pride in my work. I suggest everyone save as if they will retire at 55 - you just never know.
I agree with you 100%. I had a very smart boss tell me that my job could be obsolete at any time (this was in the late 80s). Although it too a few decades for that to happen, I planned and saved as if it could happen anytime. Because of her wise advice, when we were laid off, I was prepared. I was 59.
I am 41 and know many who are 20-30 years my senior, and so many of them were laid off before their formal retirement age. Unfortunately, many of them simply didn’t keep up their skillset (e.g. repeatedly having to ask how the car seat controls work on the car they were trying to sell), so their early retirement was….unsurprising.
^^ this is much more realistic. More and more people have been experiencing age based discrimination, and it's brutal on the entry level as well as at the later career level, but social security and other services assume you'll be working til 65, meaning 10-15 years to try and come up with income for
That's why I've modified the "joke" to be "My retirement plan is to work until i can't, and then die from dehydration or exposure to the elements" Realistic expectations make life better 🎉
I developing countries most people in rural areas work until they drop, well until they can't any longer. But that's because they work for themselves, so to speak. I guess in the west what one has to do, at least now that we can have a half decent job and save some, is exactly to assume no retirement will be there and save as much as we can. Then come retirement we retreat to those countries with lower cost of living. There seems to be no other ways. The current generation isn't saving enough to retire in the west, considering that they are not even buying and paying off their own houses
In America, most people lose their ability to work way before they are unable to perform the core tasks of a job. And it all comes down to their ability to drive. The entire country is inaccessible to people without a car, even our "walkable cities" are dangerous. Japan has some sad stories of 90 year olds being alone and neglected, but the same old person simply would not make it to 90 if they were in America.
The health system is quite horrific as well. I can't think of the right word to describe it but the contrast between having some of the best doctors and medical technology available in the world while simultaneously being equally out of reach for so many is depressing.
@@br5380that means people who pay their things get very good coverage vs those who don’t. Contrary to socialist countries where everyone gets shitty coverage.
What difference does this make when most of these people are out DRINKING anyway. Who the hell wants to be around a bunch of drunks clapping at each other.🤪👏👏👏👏whooo, you gooo run that mile! No one can run it like they can! Wooooo! They pay for that race, and They Can’t wait for that drink!🎉🎉😅😂
I think I watched a video essay on Japanese elderly doing just this. They just keep getting arrested so they are not a burden to their family. I wonder if the US prison system could accomodate this.
@@HowMoneyWorksalso i have this thought if developed nations want incease there prduction(manufacturing) why can they automate all that the are low on manpower anyway.
@@rodrigovaccari7547 so I’m a firefighter luckily on top of my pension i have a deferred comp aka roth 457 and on the side i have a fidelity dividend portfolio and a roth ira. If one fails i have the other ….i hope. Lucky to be told wise words by older firemen i work with.
I’m retired. Your story of a conservative savings profile is a common one. Any course of action involves risks. You might be avoiding market risk, but you are taking on other risks like inflation and reinvestment risk.
My wife is willing to work for another 5 years if needed. Are we in good shape? Will we be okay if I begin withdrawing from Social Security when I’m 62 and my wife is 67? Should we hire a financial planner to help us navigate this?
Certainly get a pro to look at your predicament (if you even have one, lol) A second opinion from a comprehensive financial adviser can help you look at more than just your current estimate of cash flow and needs but also longevity risk, outliving your money, tax considerations, legacy planning, healthcare costs, inflation and a myriad of other things you may not be considering when reviewing your current situation
A number of people around my age (I'm 66) are finding that companies can't get rid of them fast enough, and they can't get hired to work even though they want to, so "retirement" is not a choice for them, regardless of their financial situation.
If you're post retirement age and need to work, yet say you can't find any I call BS. Go to a McDonalds and start at 15-17 Bucks and hr. $15 hr. at 30 hrs at 52 weeks a year is $23 Grand and change. Not great at 2024 numbers, but if you are pulling SSI and Medicare and maybe some 401k or other money that 23 Large will give you almost 2 Grand a month to pay utilities and food/gasoline. It all adds up in the end, and as a Gen-X'r I have expected to work until I die.
Kind of ironic that this piece, about people retiring who can't afford it, is sponsored by a subscription meal service that they probably couldn't afford. 😄
@@Johnny-adamser Uh, what's that supposed to mean? I ain't nowhere near broke, friend, I just think it's ironic that a video about broke retirees is being sponsored by a fancy meal service that broke people can't afford.
@@hyperborean9663, Indeed. Working for the weekend. For the boomers that actually worked and saved their money/invested it, they have plenty to retire.
A morbid ideal, me and few friends are considering is taking out high life insurance on each other. When one dies the others can cash in his policy. That money would go into the survivors' retirement. None of us have any kids.
Nice idea. I have the same idea, but put it on my parents since by the time I retire, they will not longer be alive. This is how I found out some families with a lot of money use life insurance. Though this only works if you are financially stable.
Great, but you're better off (statistically) just taking those insurance costs and putting them in a savings account. Insurance companies are not charity, they actually have a margin on this.
In India one can live on 2000 $ per month. But once you are used to US way of infrastructure, you cannot survive there. I am hearing more and more are tyring Malaysia and Thailand
@@bvssrsguntur6338 if i was to go somewhere it would be Columbia. I live in Miami so it’s a 3 hour flight to get back home to see the family. And on the same time zone and i also already speak the language.
R u fking kidding me? 2 grand a month? Nahhh, better just go to Russia or other post sowiet country, 95% of old people live here on 250$ a month (owning an apartment), but u can easily rent a decent one for like 300$ more
I mean, its also possible to live on less than you make, and save and invest the rest to supplement your retirement income (probably only SSI). By watching this channel, it already means you know the virtues of spending less, saving more, and investing.
Yeah, my post retirement plan (especially with private equity buying up all the retirement homes) is to see if I can swim across the Atlantic ocean when I can no longer sustain myself.
I'd have no issue with supporting my parents into their old age if they supported me in my working years by keeping an eye on my children and investing their wealth into our futures. You know, like what my grandparents did for them. Unfortunately, they'll spend every dime and turn their pockets inside-out at my doorstep just as my kids enter high-school. Boomers.
@@JT-zw4df "investing their wealth into our futures" lol. Your parents don't owe you anything. They clothed, fed, and cared for you for 18 years or more. So you owe them.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Isn't it interesting how billionaires often brainwash people into believing that chasing money isn't the path to happiness? The truth is, while money itself might not bring happiness, it does provide security and freedom. These billionaires are securing wealth for future generations, and one thing they all have in common is that they're investors. It's crucial for people to take their financial literacy seriously and consider investing in the stock market. It really can work for you and help you build the financial future you deserve.
I was laid off at 58 from a Fortune 500 company. I had worked for them 35 years and had a decent pension coming but also savings and a paid off home. Because I had watched nearly all of my bosses face the same fate, I was prepared. Most people are so unable to control themselves and their spending, the are unprepared for the inevitable. You will lose your job, you will have to support yourself, and retirement costs more, not less than your working life. Getting sick will wipe out your savings unless you have a huge nest egg. This is reality.
Once you hit 40, you start to notice the discrimination. Companies will no longer let you bid on internal jobs. They won’t tell you that but that’s how it begins. Eventually, you will be led into a small meeting room and encouraged to take an early retirement package. That’s when you know that you’ll be laid off if you don’t take the package. Ironically, the middle manager who gave me this ultimatum was much older than me and looked like the Crypt Keeper.
They should stop eating avocado toast, drinking coffee, and pull themselves up by their bootstraps. Maybe stop getting sick so often and the medical costs won't matter. (Use their own advice)
Well said. They should have a BMW to live in as a backup. What you put out you get back. Man oh man, God got this wrong. Why can't I do what I want and still be provided for with no effort.
Man, a lot of the people who are in these dire straights used to be janitors and hospital orderlies. I want karma to exist too. But the boomers who were mocking you are the boomers who are wealthy and white enough to retire comfortably.
Ah... Boomer going in retirement and their plans is "our kids will take care of us" ... Sadly we cannot even survive on our own, we can't take care of others, being kid of old
One thing you pointed out that most people don’t realize is that if you lose your job in your 50s, it’s very unlikely you’ll get another job paying a comparable amount. I retired (by choice) at 55, but I looked at my finances very, very carefully before doing that. Surprisingly, I got a part-time job that I like, and it pays pretty good for what it is, but I’m in an in-demand field. Even so, if I’d really needed another full-time job, if I’d be able to get one (due to ageism) I would have probably taken a 30-40% salary cut.
I made employment agencies work for me when I was rarely hired after forty. I'd out reliable everyone and be last man standing (often). But I also noticed the lack of people awareness in the two large cities I worked in: Vancouver and Calgary, Canada. My employment in Calif. in my twenties was NOT like that at all. There has always seemed to be a really lack of ability (company owner good at finance, logistics, maybe sales) but a MORON in the people dept. I made it work, but it wasn't nice. Fortunately I had my health, strength, literacy, and could figure new things out fast.
“You’re watching a channel that gives weekly depressing lectures on the state of the financial system” 😂 I love the self awareness just made me a bigger fan 😭😭
8:24 "borderline political suicide" This is not borderline. Jeb Bush suggested this during a Q&A when he was on the 2016 campaign trail, the most thoroughly-funded political campaign in human history up until that point, and his entire base abandoned him.
@@ashleyconnor8891 Their LONGTERM best interests. People only care about the here and now. Most people don’t care if the country goes bankrupt in a generation as long as they can get their money now.
@@Kaiserboo1871, The boomers don't care. They are will to sell future generations into debt slavery to get their entitlements. I'm hoping that Gen X, Millennials, and Gen Z snap out of it. But it will probably take another 10 years of printing money out of thin air for the Boomers, and the inflation that comes with the money printing before that happens.
@@Kaiserboo1871why should I give a damn if my country "goes bankrupt"? Countries can't go bankrupt they have the money printer and as long as America still has its military it can keep borrowing
I become emotional whenever retirement comes to mind. I offer my heartfelt apologies to those who, after years of diligent work and saving for retirement, faced unexpected events that led to significant losses. This situation is especially harsh for retirees
Today, it’s easier to figure out how to improve your retirement savings. With inflation, you can use a professional portfolio manager to explore different markets passively. The impact of US dollar shifts on assets is complex
Even if finance isn't your strong suit, you can always bring in an expert. My $850,000 retirement fund took a nosedive in April, but I quickly called in a financial advisor. They crafted a smart plan to turn things around, and I’ve since pocketed over $250,000!
There are a few standout experts in this field. I’ve tested out a handful over the years, but June Renae Matthysse has been my top pick for the last five years. Her performance is consistently impressive, and she’s a real name to know in the industry. Check her out
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her
I'm 36 and I've been out of work so long I'm looking at homelessness as my only option. I've seen the same job reposted every week and I know for a fact that I am the only person to apply, yet nothing from them or anyone else. My final retirement might be before the new year and I will be forgotten. This is just depressing.
My parents used to tell me they are fine and that my generation is too reckless (and therefore screwed). They are now depending on me to cover their expenses because they didnt realize how bad state pensions are.And when they sometimes ask me for extra money to buy something bigger, they justify it by saying they will be leaving me something to remember them by for when they are gone(i.e. the crap they are planning to buy).
You should say, You always said that my generation was reckless with money. Well, I'm about to show you that we're not." Don't let your parents impoverish you. If they aren't concerned about your future, then they're bad parents. Let's be honest; you know it's true. They don't deserve nonessential items if they expect you to pay for them.
At this point it just became easier to not disclose my full finansial situation with them so they would only be aware of my rainy day fund but not on the likes of pension or isa. Otherwise any "no" ends up leading to some kind of drama. Its incredible when I think how I grew up getting told as a kid that we cant have everything if I asked for the odd treats or toy (and quite rightfully). :)
Don't listen to them. Don't give them your money you need to survive and raise your children so they can continue to live luxurious lives. Give them gifts and some cash if you want to but you will never get anything that they buy for themselves.
Luckily, my parents never need to ask us for money (though, since I still live with them, instead of paying rent, I pay all their bills, which is significantly less than rent in my area. The total cost is probably less than half of the typical rent for a studio. Saving for a home some day....). As such, they spend their SSI on vacations and whatever random things they buy. Any money they have left over, they give to me as "pay back", and I just add it to my savings and invest the money for them anyways. It sucks for people in situations where they feel obligated to give money to their parents, and where the parents always feel entitled to their kid's money. Its like sure, you raised me for at least 18 years, but that's not long enough to leech off of me for 30.
I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but l'll also have at least one pension, a 403 (b) and a very prolific Investment account with my Stephanie Janis Stiefel my FA. Retiring comfortably in the US these days is almost impossible.
I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
people just learned from corporations, if one company makes a mistake that their problem, if a bunch of them make a mistake its a bailout. just doing the same with people
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I work with Elisse Laparche Ewing as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Retired at 55 with $1.4M (60/40 split of stocks and bonds) liquid assets and about $300K in a paid off property/lot in Hawaii that I never built on. I'm now 57, have $1.5M liquid and am about to list the lot for $400k so I match this scenario pretty closely. Our budget since I retired was $9.2K/mo and we've spent only $8k on avg even with 6 months of global travel, a year living in Hawaii and golfing twice a week and some domestic travel. I too got similar (poor) results from my retirement planner but there was no way I would've kept working in a high stress job working 65hrs/wk average because of hypothetical scenarios and probabilities as we're highly adaptable... who in their right mind wouldn't cut back in discretionary expenses during a major recession? Besides, as long as you don't sell or do something dumb in a down market, historically they bounce back in 6 months on avg, maybe a year worst case so you just need to have about 1-2 yrs worth of cash (in a High yield MM) to live off of. At my age, worst case is I get a part-time job at Walmart or get a remote gig where I can work in my PJ's for a year to fund my discretionary spends and hobbies. My highly probable backup plan is to get travel health insurance for $500/mo for both me and my wife where we have to live abroad for 6 months and in the US for 6 months for a year or two. Already got quotes and can save $0.5 - 1k/mo in health insurance and travel abroad half the year. There are too many options to list but my advice is to retire as early as you can and be flexible. Is about financial literacy
Congrats, and spot on! I too am planning for around 55-56 retirement. The value of adding extra years early in retirement when you are most vibrant and active can't be overstated. The key is going in to retirement with a good financial planner, a good grasp of your real expense needs, and ideally having no debt over your head. And of course being able to adapt spending in cases of down markets etc. Glad you are living your best retirement life. Looking forward to joining your club!
It would be really wise to look for financial consultants such as Becky Lou Gordon who can help you with insurance, investing, making sure your retirement is well funded, discussing tax advantages, and figuring out how to have a volatility buffer for investment risk. There is a rough patch ahead of us, and getting through it will need careful personal money management.
Thanks for sharing, I just looked her up on the web because this is equality important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@@RichardGeorge-pz3wm This is bull. If course SOME people hit their FIRE targets. The point of the video is the VAST majority don't have two dimes. And anyone can get sick, or divorced, or be a victim of economics or extreme weather or an accident.. Even Mr Smug.
I hit $113k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
It’s essential for you to have a mentor to keep you accountable. Myself, I'm guided by Daniel Adams Bailey. for years and highly recommend him I focus on him. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
I know a guy who worked as little as possible, did whatever he could to stay on the taxpayers dime, work minimum to get through each month, etc. He told me recently that he is planning to retire early. I wish him a nice future but I am scared for him.
@@justinfowler2857 Interesting comment. No, I'm not the type to spend it all just for another day in misery. No fear of death. Its one of life's certainties.
@@michaeldalton8374 Highly doubt that would occur. There is nothing more dangerous than an old man who has already lived his life and has nothing to lose. Worse would be to have a whole group of them...🤔
I'm retiring as soon as I can, so-called ready or not! Besides, where are all of the opportunities for senior citizens gonna come from? They barely want to hire you now once you turn 40. Smh! 😳
I was forced to retire early, because I refused to get the mandatory Jab. It forced to me to make a complete lifestyle change, but i am now mortgage and debt free. i actually am now considered low income, but it doesn't feel like it. i am comfortable and have what I need.
Indeed. We can't afford the boomer's entitlements... who is going to tell the boomers though? They genuinely believe they actually paid for the entitlements.
@@3lanksp_ce, *Developing countries willing to exploit their own populations to acquire money. The corporations can't just waltz into a developing country without that country's government allowing them to. Lol.
Its hard to feel bad for them just having difficulty at this point while being part of a generation who had these difficulties right out the gate. Im prob just too salty as well.
When I turned 18 inflation was running 10%. If you did not have a relative in a union most jobs paid minimum wage. It seemed old people had all the good jobs. We were still hearing true horror stories of the depression. A time of no food stamps, no minimum wage, no unemployment insurance. The more things change.....
@@dennismitchell5276inflation was high, but wages were way higher (proportionally), housing was way cheaper, garanteed investments gave way better returns, etc... Also, we've had higher than 18% inflation on essentials since 2021. My grocery bill almost tripled (and yes, I keep track of it). They changed the way inflation was calculated in the late 80s and in early 2021.
@@Jet-ij9zc A three year period of inflation would have been closer to 30% back then. Some of what is relevant, but not to the degree you believe. Minimum wage could only afford a single room in the bad side of town. Guaranteed investments don't mean anything to a wage slave. I know today is bad and it is getting worse. I believe you are counting middle class figures. Many of us were not middle class. Without a union job, or equivalent management position people were pissed on. We lived paycheck to paycheck, broken down car if we were lucky. My transport was a $50.00 Yamaha 100, rain or shine. It has been many years since unemployment was a great fear. Hundreds of folk showing up for one job. It was huge to get a job at McDonald's. Different times buddy.
@@Jet-ij9zc minimum wage hasn't been raised in close to 20 years. Democrats are terrified of even forcing Republicans to vote on a ten cent raise. Back in the day minimum wage in California was the federal minimum. Now it's double federal. Neither party gives a shit.
Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Coin that will align with my risk tolerance and financial goals
Opting for an inves-tment advisr is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
*''TRUDY ELIZABETH STOUFFER’'* a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market
This pretty much means that my only option is to unalive myself while I still have life insurance. How do you save with expenses this high? I just saw a guy unironically list a 1987 single wide trailer in a cow pasture down a dirt road at 1200 a month to rent. He had seven messages in fifteen minutes.
@nicolasgirard2808Going backwards in our standard of living is not a valid solution.Cost of living needs to decrease along with corporate profits while wages rise.
I am from the Netherlands, I am 33 and I put 750 a month for my retirement (pre tax) this is standard from the government. I have been saving for my retirement when Infirst started working. It’s just done automatically
The US has Social Security. It is taken out of people's paychecks. But it is Not a retirement plan. We only put in enough for people to avoid "abject poverty". Most people have personal retirement accounts, that are invested in the Stock market. For the Boomers in the US, that actually saved/invested some of their money, they are fine.
I had to take care of my grandpa, then grandma and mom all disabled. For over 10 years. Now I'm 35 wasn't able to date during that time, I had to focus all my free time into advancing my career while my brother stayed home to do the blunt of the work. I had to support us all off my money. Thankfully I'm now good, but finding a relationship at this age isn't easy. But I'm just gonna focus on enjoying my life.
The day I found out that I wouldn't get to retire the same time as everybody else did that I was working with was a day I decided to quit trying. They got super cheap houses relatively good pay locked in social security retirement at 62. I'm 37 I guarantee they're going to make it 70 before I can get my social security. And the kicker is I did the math I'd have like 1.4 million if I were able to just invest my own money and instead of social security handling it...
I'm also 37, I hate to be the bearer of bad news, but we will not be getting SS... We are already $35 Trillion in debt. There is an additional unfunded liabilities: $30 Trillion for SS $45 Trillion for Medicare/Medicaid *We can't actually afford to pay for the boomers entitlements. Don't plan on getting SS.
I’m a millennial and I have a city job that has a pension. That’s going to help me big time to retire on top of what I’m already saving. My goal is 60 but we’ll see
I retired at 53 now, 55. I have close to a six-figure portfolio, 70% income uk 🇬🇧 stocks, blue-chip companies, the rest in growth etfs sp500 nasdaq global technology, etc. I still like the growth aspect of investing but as my grandkids would inherit all this how best does all this get best managed for better returns?
My 401k went 100% in the S&P 500 when I started working in 1989. Left 100% alone till 2007 before it went to 666. Because of my 17 years in the 500, I was able to retire this year with $683k in the 401k (and a pension and rental income). There is no other way to retire before you are 70.
Absolutely! Wealth is made in growth investing . We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q3 taxable divs this year was $18,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.
My CFA ’Amy Desiree Irish’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Yeah... I really think a BIG part of it is that when you've worked for 20 - 30 years and you know what's what it's a HELL of a lot harder for the management to screw you over or take advantage of you. You know how you get screwed over by your manager? That doesn't happen so much with us old guys... In a lot of cases it's because we've got money saved (Because times weren't always as bad as they are now.) and we're willing to tell them, "Fine. Fire me. See how that works out for you." In some cases it's because we just don't care. Once your kids have moved out your only responsibilities are to yourself. Sometimes you just don't care any more.
I mean, a recent counterpoint to that is Boeing. They forced out almost all their QC (the old timers) and a lost a ton of experienced machinists due to their internal politicking and the pandemic. They haven't reversed course...so it must not be in their best interest to do so. I'm sure theyve crunched their numbers.
I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collabrative efforts in the fund my estate planner has me invested in. I do not work.
I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
My CFA Carol Vivian Constable , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
The government extending retirement age means nothing, if companies are not willing to hire older people. Then older people are forced to retire. We’re not calling the shots, it’s American corporations calling the shots.
It means the people forced to retire early won't be able to get government benefits as soon. Extending the retirement age isn't to make people work longer, it's to reduce the amount of money the government has to pay.
"Retirement age" is a misnomer. It jist means "the age at which government starts sending you Social Security checks". You can't retire on SS payments alone even if you live in a car
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
Thats sad you really hurting. But, what about people that don't have a $1000 dollars or living pay check to pay check. And Kamala taking their tax dollars to feed illegals, Medicare and social security. And to mention $25,000 to build a home. Maybe you should give them several grand of that $680, 000 to build them a home. Vote Trump and fix the problem.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
You seem to think you can keep your job after 50. Most people get laid off. It saves the company lots of money on health insurance. It's also illegal, but nearly always impossible to prove in court.i
So many major consultants are last retirement age. I can’t believe how old all these people are I work with. I’m like why are you still working. We just had a lady literally die this week and folks from work found her at home as she didn’t show up for work.
Right now my mom and I have had to take care of her dad who is 93, who has no large amount of savings, has *dementia,* is unable to work and yet somehow still has too much money to properly be housed in a retirement home that is specialized for such patients. So, in the meantime, since someone had to care for him, Mom and I moved, I lost my job and my mom lost her job and almost all of her savings, along with her brother also losing large amounts of money, just to deal with this problem. I haven't been able to find a job that pays reasonably, let alone that will hire me. My mom, who is over 65, can barely work part time at this point. I have barely any saving at 30+ years of age. Is it really any wonder that we have no hope for our futures.
Hey, Unfortunately that suggestion you gave to put money aside and invest for retirement does not work for a lot of people once there is not enough money left at the end of the month when you got a normal job and more than two children to support. And secondly, when you loose your job , you have to cut into your savings until they are depleted before you get unemployment money (at least is what’s here in Germany) so there is no bloody way to save anything.
In the US, you only get 6mos unemployment. If you're over 50, you won't find a job and you will spend all your savings before retirement age. It is a terrible effect of inter-generational age discrimination and cultish rapacious greed. Wait until Gens XYZ get to feel the wrath of their own generation's greed. They will have nearly ZERO jobs due to AI and androids. They are feeling smug now, but they will be wiped out. Schadenfreude will be the Boomers' sadly worthless compensation.
People, a machine is Going to take Your job. It's only a matter of time. We need to be having a different discussion, like what to do When that happens!
My rich family kicked my disabled single dad (to two disabled children) out of the family company the second he got divorced. They then required due to him having money issues to take on full time care to his rich mom at 50…. Who just decided after her husband died she needed someone to replace him because she can’t do anything . That dad died. Her two rich sons with 9 bedroom homes literally turned to me , food stamps on disability about to finish law school after dad wasn’t taken care of during his chemo by anyone but me specifically … asking me to not work a job to “take care of her” so they could work a job they never let me even have . When I said “she and you guys can ask the other grandkids you have jobs to to help “ they flipped out and said that that isn’t fair
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
*Izella Annette Anderson* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I was forced to retire at 59 because I couldn't get a job after being laid off. It turned out to be a blessing. After 8 months of living life at my pace, I awoke one morning painfree for the first time since I got hurt in the Army in the 1970s. I've been getting by on my retirements. 10 years ago, I had a comfortable savings increase each year because my pensions exceeded my bills. Now, with inflation that buffer is almost nothing. I cut take out meals from twice a week to once a month now. I shop local sales and coupons as much as possible. It is going to get tough. Most of us Boomers that are now comfortable, worked a lot of 80 hour weeks to get where we are. Most of us paid off our mortgages(10% rate in those days) in our 40s. Good Luck, Rick
@@alexj-t2331 Voting does nothing, its entertainment. No choice exists, the current choice is between continued corporate control or the oligarchs themselves. Much like the illusion of freedoms between totalitarianism and authoritarianism... At least in the USA the government was captured by corporations and the rich decades ago.
My father is in his 80s and my mother died in her late 50s. My father couldn’t understand why I was concerned about/expecting her to have Life Insurance, but then I pointed out: We got rid of pensions, so life insurance is all a lot of people have left (most jobs, even the worst, usually gave me about $100k in life insurance). So now, functionally, literally the plan is death and your survivors scraping by with what’s left after that persons debts have gone after the estate.
GennX here, I’ve paid somewhere between $5000 and $7000 a year into social security since I was 18. I’m 50. $200,000 compounded at 7% is a LOT of money, and I’d better fucking get it!
You don't pay into a system. That;s not how it works. Your taxes fund the elderly people retired right now. In 40 years the taxes of those working then will fund the current retirees.
@@suzanrosner9208 the one group Putin won't piss off are the pensioners. He bends over backwards to keep them happy, even publicly backtracking new policy and apologizing to them on air on multiple occasions. Think about that.
I’ve been saving for a long time instead of investing, and right now I only have about $516k. I'm not sure how to make it grow, considering all the inflation, into something substantial that I might use for retirement. I’m just here for ideas
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds. At 66, my IRA and cash accounts are far more than I expected for my retirement. I can easily handle a worst-case 80% stock mkt crash, Thanks to my advisor.
Since this is a money channel too, as an Italian I feel personally attacked at seeing meal box subscription charging you upwards of 10$ a meal for some re-heated shit. That's airplane level food. You can afford better, cook better, and just do better. That was the saddest bit of this video, wake up guys that's robbing you AND killing you at the same time
Retired at age 53, I am in my early 60s. Because they couldn't understand the idea of not working if you don't have to, many individuals resisted me. I viewed my life in phases. In my latter years, I owe it to myself to "stop and smell the roses," even if I have worked hard to get everything I have now. My situation is that I retired and moved to Latin America. It made it possible for me to enjoy my new surroundings while escaping all the bad things that were going on in America. None of the people I've met regret retiring.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
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You should talk more about these topics.
It's interesting to see how some in the older generation are choosing to sell their homes to move into corporate-run assisted living facilities, often funded by investment banks. This decision not only affects family inheritances but also contributes to inflated housing prices. By limiting new construction, they’ve made it harder for younger generations to find affordable homes.
^^^
This is not what I really wanted to type but youtube kept censoring my comment anytime I mentioned the name of that generation. Good job youtube. Let's continue to coddle those people until they are gone....
You need a dedicated person to prune your comments cause, man, go through them and so many are those bots about advisors and whatnot, it is insane.
My dad's retirement plan was "death." In reality, once he got too sick to work, he moved in with me for the rest of his life. I love him and was happy to do it, but it only worked because my husband and I both worked good jobs, and lucked into a house with crazy below-market rent.
Admirable of you two to take him in, and fortunate indeed! May fortune continue to smile upon you 🤘
What a jerk.
Mine is the reverse. My sister and I still live with my parents, but we pay for almost everything. Even their vacations. We don't really mind, of course, but yeah. They had no retirement plans, and will definitely not be able to make it with just SSI.
@@goat9199 Am I a jerk? I didn't know that was his plan until he got sick.
I keep telling my kids, the greatest gift we can give them is to have enough money to never need to pay for us, so just because we have the cash to pay something doesn’t mean we can afford to so.
So, I guess my retirement plan is death.
Always has been 💀
Ultimately, it is for everyone.
Same
I am just going to die at like 70 if there isn't a future for retirement
Mine too
The cost of essentials like housing, healthcare, and groceries keeps rising, making it difficult for many to save enough for retirement.
Many people, especially those without access to employer-sponsored retirement plans, simply don’t have enough in savings or pensions to cover their expenses when they stop working.
People are living longer than ever, which means retirement savings need to stretch further, and for many, that money just doesn’t last as long as it used to.
From student loans to credit card debt, more retirees are carrying debt, making it challenging to manage on a fixed income.
Healthcare expenses increase with age, and for those without substantial savings, these costs can be a significant barrier to a comfortable retirement.
Stagnant wages over the years have made it hard for many to save adequately, leaving them financially unprepared to retire when they reach traditional retirement age.
I got laid off at 55 , first time in my life. Took 6 months to find a job. I feel lucky and blessed to be working for the same money. It’s rough out there
it helps you had experience, you're just below the threshold where they can expect a decent couple more years out of someone with a proven track record of employment (plus experience and skills) whereas there's millions of new graduates every year with the same degree where 7 or more people are fighting for the exact same entry level position which requires 2 years of experience. Doesn't help either that at every level people are posting openings for jobs online (the only place they'll accept applications) which don't actually exist at all just so they can receive government subsidies. our labor market is completely upside down currently
Tell that to your soon to be freeloading friends who have been telling us young people that we’re lazy
@@solarmaru49avocado toast and $6 coffee drinks
So you are working for less because of inflation
When you are laid off, don't you receive unemployment? What percentage of your original income did you receive?
I recently read the phrase, "We're not living longer. We're dying longer." Our lives have been extended, but that doesn't mean our working years have been extended as well. As a retired blue collar worker, I can tell you that many of us are physically wrecked and exhausted by the time we're 60.
I wonder if this is better or worse than working on a farm until you are dead (which is around 95% of recorded human history). I guess farming is healthier back in the day before fertilizers and pesticides, but it was mostly reliant on mother nature's will.
Of course. But to retire would mean shoot yrvown foot. So ideally companies (and govt) should plan for this through better career planning. It wasnt necessary before coz everybody died shortly after, but now we need the young to do the hard work, and the elder to do office work. There needs to be a guided transition, maybe at 50 not 60.
@@rebeltheharem7028No. you died early and many of your children died before they reached adulthood. Look up life expectancy rates rather than guessing
I'm in your physically wrecked boat. Years on concrete floors, manditory OT, labor intensive, suffering through repetitive motion injuries and arthritis turning you into a brick by 60. I have only stayed past 60 because the benefits and pay are great. Not going to be able to stay til 67.
@@floofdecat Before you take a combative approach and tell someone they're wrong, you should try to recognize if you're talking about the same thing they are. You're talking about life expectancy. They're talking about farming being healthier before wide spread mass use of pesticides.
You're right that life expectancy is better today than it was centuries ago, however, that's due to modern medicine, not farming. They're right that modern farming's use of dangerous chemicals is more harmful than traditional farming.
I’m 58 retiring next year but the thought of retirement gives me weakness. 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 or loved ones 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.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
My CFA ‘Grace Adams Cook’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
People also have less siblings, so caring for elderly parents is often falling on only one or two peole. A society where one is expected to take care of two elderly parents, have at least 2.1 children, and still earn enough money to maintain all of that is simply nom existent.
This! It's already work extended hours, no time for meeting with people, and helping aging parents on weekends.
Don't forget to also save for your retirement
I’m so glad you brought up the special fresh hell of having to care for elderly parents on top of everything else. Completely unsustainable.
That's true. We are about 4 brothers in my family. My mother is old and has no pension. But she is comfortable because we pull our resources together to support her. On the other hand, my wife's parents have only 2 kids. Her and her sister and she is the one doing ok, so the burden is solely on her to support them. 😢
I see too often that prople with more children are at the end the burden of 1 child, the others forget about them. Or are left behind in a retirement home, alone. To be old can be so lonely and to have children is not a guarantie we will not be alone at the end.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
I'm 62, and rising prices have derailed my retirement plans . I worry that today's economic conditions are more challenging than ever. The stock market's unpredictability, coupled with reduced income and soaring inflation, makes me anxious about having enough for retirement.
I've found working with a fiduciary advisor has been invaluable in navigating market uncertainty. Their expertise in risk management and hedging has helped me grow my retirement savings significantly to almost a million. With their guide, I've learned to diversify effectively, manage risk, adapt to changing market conditions. Their strategic approach has given me peace of mind and improved my financial outlook.
who you are working with? Can i get a recommendation
Sure! I work with Glen Howard Chester and is NY-based. Just search the name & check if he meets your requirements, You’d find necessary details to work with to set up an appointment.
Just copied and pasted his name on the web, easily spotted his consulting page and was able to schedule a call session to discuss further. Thanks for sharing
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $380k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
Finding financial advisors like Sophia Maurine Lanting who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks a lot for this recommendation. I just looked her up on google, and I have sent her an email. I hope she gets back to me soon.
I’m 38, finally got a good job a couple years ago right when inflation and housing went bonkers. I don’t expect to retire or own a home. I’ll just focus on work life balance and enjoy my time now. When I can’t physically work anymore…I’ll ride out into the desert.
On a horse with no name.
Yep, I have a similar “Psilocybin + Deep Forest” retirement plan
@@zachbundy7026
Inflation, so it’s a bike with no chain.
Bro that's my plan too. Me and my glizzy out by a waterfall in the mountains
@@BranniganCarter
Honestly, at this point, I may do the same. I make more in my life now than I ever have by a substantial margin, yet a home is mostly out of reach. When I feel like I’m done, I’ll write myself a .40cal love letter.
I'm here for the "weekly depressing lectures"!!! Love it.
A true HMW fan from the early days 🥲
All you have to do is plan. Thats literally all you had to do. Plan your own future.
It's not my fault or my taxes because you were irresponsible
@@CharlieKellyEsq I think you get to watch the slow crash of the economy from a front row seat then.
Almost the entire economy is service-based, and these people can't afford services, so they won't spend. (Womp-womp recession noises.)
@@Knofbaththis is only a problem if you are a consumer. The answer is to take advantage of the situation and profit from it. AKA, open a retirement home, take control of the retirey's benefits, and use it to enrich yourself. Morally dubious, but they'd be homeless anyway.
People who say they will work until they die assume that they control that choice. Most people over 50 who leave their jobs were forced out. I always had top score performance reviews and regular promotions but when I got into my mid 50s my boss told me I should be planning my exit strategy. All promotions stopped and performance all of a sudden was only fair. Fortunately I’d saved so am fine but it was heart breaking since I’d devoted myself to and had pride in my work. I suggest everyone save as if they will retire at 55 - you just never know.
I agree with you 100%. I had a very smart boss tell me that my job could be obsolete at any time (this was in the late 80s). Although it too a few decades for that to happen, I planned and saved as if it could happen anytime. Because of her wise advice, when we were laid off, I was prepared. I was 59.
I am 41 and know many who are 20-30 years my senior, and so many of them were laid off before their formal retirement age.
Unfortunately, many of them simply didn’t keep up their skillset (e.g. repeatedly having to ask how the car seat controls work on the car they were trying to sell), so their early retirement was….unsurprising.
^^ this is much more realistic. More and more people have been experiencing age based discrimination, and it's brutal on the entry level as well as at the later career level, but social security and other services assume you'll be working til 65, meaning 10-15 years to try and come up with income for
That's why I've modified the "joke" to be
"My retirement plan is to work until i can't, and then die from dehydration or exposure to the elements"
Realistic expectations make life better 🎉
I developing countries most people in rural areas work until they drop, well until they can't any longer. But that's because they work for themselves, so to speak. I guess in the west what one has to do, at least now that we can have a half decent job and save some, is exactly to assume no retirement will be there and save as much as we can. Then come retirement we retreat to those countries with lower cost of living. There seems to be no other ways. The current generation isn't saving enough to retire in the west, considering that they are not even buying and paying off their own houses
In America, most people lose their ability to work way before they are unable to perform the core tasks of a job. And it all comes down to their ability to drive. The entire country is inaccessible to people without a car, even our "walkable cities" are dangerous. Japan has some sad stories of 90 year olds being alone and neglected, but the same old person simply would not make it to 90 if they were in America.
The health system is quite horrific as well. I can't think of the right word to describe it but the contrast between having some of the best doctors and medical technology available in the world while simultaneously being equally out of reach for so many is depressing.
@@asmosisyup2557 and the fact the US spends circa twice per capita what equivalent countries do, yet tens of millions aren't covered
@@asmosisyup2557we have the best doctors because there is an economical incentive in private insurance. They get well paid.
@@br5380that means people who pay their things get very good coverage vs those who don’t. Contrary to socialist countries where everyone gets shitty coverage.
What difference does this make when most of these people are out DRINKING anyway. Who the hell wants to be around a bunch of drunks clapping at each other.🤪👏👏👏👏whooo, you gooo run that mile! No one can run it like they can! Wooooo! They pay for that race, and They Can’t wait for that drink!🎉🎉😅😂
Rob a bank at 65 and you’ll get free room and board
You'll also get a romantic partner!😃
Or buy a bunch of fertilizer on commodities and take the bank out with you.
To each their own. ¯\_(ツ)_/¯
This is the way.
I think I watched a video essay on Japanese elderly doing just this. They just keep getting arrested so they are not a burden to their family. I wonder if the US prison system could accomodate this.
@@andrewlash166 Absolutely. Particularly if its a for profit prison. They get paid based on the number of beds occupied.
The only retirement young people will have is a monthly subscription VR comatose
Damn... sign me up!
Those euthanasia booths from Futurama are starting to make more sense...
Well....... that's a depressing but possibly accurate prediction 🥺😒.......lol damn
San Junipero from Black Mirror
Woah there, Rockefeller. Dreaming a little big, aren't we?
I can retire comfortably right now as long as I die by Sunday
I think I have another month 😉
I'm late 20s and do not believe government pension will be a thing when I hit the elder stage. Instead I save and invest ever since my first wage.
that's probably the right plan to have.
Make a video on universal basic income is it a good idea btw love your videos ❤@@HowMoneyWorks
@@HowMoneyWorksalso i have this thought if developed nations want incease there prduction(manufacturing) why can they automate all that the are low on manpower anyway.
@@HowMoneyWorksI think it’s one of the spam bots that promotes trading scams
@@rodrigovaccari7547 so I’m a firefighter luckily on top of my pension i have a deferred comp aka roth 457 and on the side i have a fidelity dividend portfolio and a roth ira. If one fails i have the other ….i hope. Lucky to be told wise words by older firemen i work with.
“Why you are living on the street” - How Money Works video, 2025
Hey...how did you guess what awaits me in the future!
At least make it 2026? 💀
If that is the case move somewhere warm. Makes sleeping outside easier.
@@thomaslthomas1506Those places have the worst anti-homeless laws
We are in our 50s with nearly $3M saved, no debt and $50K annual spending. But we avoid the stock market completely.
I’m retired. Your story of a conservative savings profile is a common one. Any course of action involves risks. You might be avoiding market risk, but you are taking on other risks like inflation and reinvestment risk.
My wife is willing to work for another 5 years if needed. Are we in good shape? Will we be okay if I begin withdrawing from Social Security when I’m 62 and my wife is 67? Should we hire a financial planner to help us navigate this?
No one likes market risk, but without longer retirement, taking on risk is often a necessary evil to compensate for inflation.
Certainly get a pro to look at your predicament (if you even have one, lol) A second opinion from a comprehensive financial adviser can help you look at more than just your current estimate of cash flow and needs but also longevity risk, outliving your money, tax considerations, legacy planning, healthcare costs, inflation and a myriad of other things you may not be considering when reviewing your current situation
How does one get a comprehensive fa who isn’t looking to just make a buck from consultancy and whatnot
A number of people around my age (I'm 66) are finding that companies can't get rid of them fast enough, and they can't get hired to work even though they want to, so "retirement" is not a choice for them, regardless of their financial situation.
yet young people entering the work force are increasingly unemployable. it makes no sense!
@@jakenichols1155"Young people" from the home country are unemployable. I think you will find Rajneesh from India has no trouble finding a job.
@@grimkahn3775 only because they will take minimum wage or less for skilled work
@@impyrobotEyup.
If you're post retirement age and need to work, yet say you can't find any I call BS. Go to a McDonalds and start at 15-17 Bucks and hr. $15 hr. at 30 hrs at 52 weeks a year is $23 Grand and change. Not great at 2024 numbers, but if you are pulling SSI and Medicare and maybe some 401k or other money that 23 Large will give you almost 2 Grand a month to pay utilities and food/gasoline. It all adds up in the end, and as a Gen-X'r I have expected to work until I die.
Love the smell of economic despair in the morning. Thanks mate
Kind of ironic that this piece, about people retiring who can't afford it, is sponsored by a subscription meal service that they probably couldn't afford. 😄
Not everyone is broke like you Carl
@@Johnny-adamser just wait. not long. all paper will evaporate soon. get gold get silver
@@marsmotion
Get real.
@@Johnny-adamser Uh, what's that supposed to mean? I ain't nowhere near broke, friend, I just think it's ironic that a video about broke retirees is being sponsored by a fancy meal service that broke people can't afford.
'Brought to you by, Carls Jr.'
Its cool, we can just recycle people past 50 as soylent green.
Get this man into a position of political power!
@@HowMoneyWorkswon't happen, he's not 70
@@alncdr catch 22! Id have to reycle myself to not be a hipocritical politician!
😮
I hope I give you the shts.
Assuming that I AM financially literate just because im watching this video is a bold move
lol
I prefer the term "terrifyingly correct assumption."
Moments of suspicious coherence.
squidward wasn't joking when he said "we do this for 40 years, and then we die."
@@stagiestpizza - I don’t remember Squidward or Patrick ever having a job. Sponge Bob wasn’t afraid to work.
@@picklerix6162lol what? Squidward worked with SpongeBob every day at, the krusty krab. He was even there before SpongeBob
Why? Game's rigged, and they'd rather stop playing.
not unfair
No boomers just were a bunch of hippies smoking weed at Woodstock never worked a hard day in their life. That’s why they’re poor 🤣🤣🤣
@hyperborean9663 and we snort NO2 from a can. No difference
@@hyperborean9663, Indeed. Working for the weekend. For the boomers that actually worked and saved their money/invested it, they have plenty to retire.
Except, they're the generation that benefited the most from the rig
Love the irony of the advertisement. Like I can afford food, much less a subscription 😂
😂😂😂
Wages have been frozen adjusting for inflation from about 1975 to present. This is no surprise.
Except for the past 4 years when they’ve significantly outpaced inflation…
@@lucaspm98is this a joke? Lol inflation is up 25% over the last 4 years and pay has remained almost the same.
@@lucaspm98actually that’s incorrect. Since the 1970s the only time Americans experienced an increase in purchasing power was back around 2017.
In that same period we have seen an explosion in the labor supply and tech
@@lucaspm98uh no
A morbid ideal, me and few friends are considering is taking out high life insurance on each other. When one dies the others can cash in his policy. That money would go into the survivors' retirement. None of us have any kids.
I like 😂😂
Nice idea. I have the same idea, but put it on my parents since by the time I retire, they will not longer be alive. This is how I found out some families with a lot of money use life insurance. Though this only works if you are financially stable.
Great idea! Just be careful if you all decide to mountain climb or go on a cruise 😬
Great, but you're better off (statistically) just taking those insurance costs and putting them in a savings account. Insurance companies are not charity, they actually have a margin on this.
Then the friends start dying in misterious ways…
The option to retire in America is diminishing. Wouldn’t surprise me if i retire in a country where the US dollar has more power.
It is becoming an increasingly common option especially if you can get cheaper healthcare.
@@HowMoneyWorks the US is the right country to make money but the wrong place to spend it.
In India one can live on 2000 $ per month. But once you are used to US way of infrastructure, you cannot survive there.
I am hearing more and more are tyring Malaysia and Thailand
@@bvssrsguntur6338 if i was to go somewhere it would be Columbia. I live in Miami so it’s a 3 hour flight to get back home to see the family. And on the same time zone and i also already speak the language.
R u fking kidding me? 2 grand a month? Nahhh, better just go to Russia or other post sowiet country, 95% of old people live here on 250$ a month (owning an apartment), but u can easily rent a decent one for like 300$ more
Rename the channel to "How Depression Works".
😂
Right 🎯
“Depressed yet?” “Why you Should be Depressed.” Lol
At this point I'm just going to move to a right to die state when I hit 65... I'd rather die 'young' than to spend my 70s and 80s in abject poverty.
Exactly. There are definitely fates worse than death.
I mean, its also possible to live on less than you make, and save and invest the rest to supplement your retirement income (probably only SSI).
By watching this channel, it already means you know the virtues of spending less, saving more, and investing.
As a caregiver to an orderly relative here my advice, don’t do it
orderly?
Yeah, my post retirement plan (especially with private equity buying up all the retirement homes) is to see if I can swim across the Atlantic ocean when I can no longer sustain myself.
I'd have no issue with supporting my parents into their old age if they supported me in my working years by keeping an eye on my children and investing their wealth into our futures. You know, like what my grandparents did for them.
Unfortunately, they'll spend every dime and turn their pockets inside-out at my doorstep just as my kids enter high-school. Boomers.
@@JT-zw4dfparaphrasing the late george carlin: the generation of "gimme that, it's mine!!"
@@JT-zw4df "investing their wealth into our futures" lol. Your parents don't owe you anything. They clothed, fed, and cared for you for 18 years or more. So you owe them.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Isn't it interesting how billionaires often brainwash people into believing that chasing money isn't the path to happiness? The truth is, while money itself might not bring happiness, it does provide security and freedom. These billionaires are securing wealth for future generations, and one thing they all have in common is that they're investors. It's crucial for people to take their financial literacy seriously and consider investing in the stock market. It really can work for you and help you build the financial future you deserve.
You get rich by making credit work for you. Nobody ever got rich by saving money.
That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to get rich is Investing.
Investing and trading now will be the wisest thing to do especially with the current economic fluctuation and inflations.
Success usually comes to those who are too busy looking for it. If you're willing to do business or become an investor then you will be rich.
The digital market has been good news lately, many people in it are seeing a great return.
I was laid off at 58 from a Fortune 500 company. I had worked for them 35 years and had a decent pension coming but also savings and a paid off home. Because I had watched nearly all of my bosses face the same fate, I was prepared. Most people are so unable to control themselves and their spending, the are unprepared for the inevitable. You will lose your job, you will have to support yourself, and retirement costs more, not less than your working life. Getting sick will wipe out your savings unless you have a huge nest egg. This is reality.
Fortune 500 for 35 years doesn’t get to tell most people they spend bad.
Once you hit 40, you start to notice the discrimination. Companies will no longer let you bid on internal jobs. They won’t tell you that but that’s how it begins.
Eventually, you will be led into a small meeting room and encouraged to take an early retirement package. That’s when you know that you’ll be laid off if you don’t take the package. Ironically, the middle manager who gave me this ultimatum was much older than me and looked like the Crypt Keeper.
They should stop eating avocado toast, drinking coffee, and pull themselves up by their bootstraps. Maybe stop getting sick so often and the medical costs won't matter. (Use their own advice)
Well said. They should have a BMW to live in as a backup.
What you put out you get back. Man oh man, God got this wrong. Why can't I do what I want and still be provided for with no effort.
Man, a lot of the people who are in these dire straights used to be janitors and hospital orderlies.
I want karma to exist too. But the boomers who were mocking you are the boomers who are wealthy and white enough to retire comfortably.
😂😂
Look at this guy, with his general provider. Where you parking that Lambo, yo?
Also try to get a minimum of two to three jobs to supplement that retirement income, can’t be lazy on your asses all day folks 💀
Ah... Boomer going in retirement and their plans is "our kids will take care of us" ... Sadly we cannot even survive on our own, we can't take care of others, being kid of old
One thing you pointed out that most people don’t realize is that if you lose your job in your 50s, it’s very unlikely you’ll get another job paying a comparable amount. I retired (by choice) at 55, but I looked at my finances very, very carefully before doing that. Surprisingly, I got a part-time job that I like, and it pays pretty good for what it is, but I’m in an in-demand field. Even so, if I’d really needed another full-time job, if I’d be able to get one (due to ageism) I would have probably taken a 30-40% salary cut.
I made employment agencies work for me when I was rarely hired after forty. I'd out reliable everyone and be last man standing (often). But I also noticed the lack of people awareness in the two large cities I worked in: Vancouver and Calgary, Canada. My employment in Calif. in my twenties was NOT like that at all. There has always seemed to be a really lack of ability (company owner good at finance, logistics, maybe sales) but a MORON in the people dept. I made it work, but it wasn't nice. Fortunately I had my health, strength, literacy, and could figure new things out fast.
“You’re watching a channel that gives weekly depressing lectures on the state of the financial system” 😂 I love the self awareness just made me a bigger fan 😭😭
8:24 "borderline political suicide" This is not borderline. Jeb Bush suggested this during a Q&A when he was on the 2016 campaign trail, the most thoroughly-funded political campaign in human history up until that point, and his entire base abandoned him.
Thats a big part of the problem, people are so stupid and vote against their own best interests.
@@ashleyconnor8891 Their LONGTERM best interests.
People only care about the here and now. Most people don’t care if the country goes bankrupt in a generation as long as they can get their money now.
@@Kaiserboo1871, The boomers don't care. They are will to sell future generations into debt slavery to get their entitlements.
I'm hoping that Gen X, Millennials, and Gen Z snap out of it. But it will probably take another 10 years of printing money out of thin air for the Boomers, and the inflation that comes with the money printing before that happens.
@@Kaiserboo1871why should I give a damn if my country "goes bankrupt"? Countries can't go bankrupt they have the money printer and as long as America still has its military it can keep borrowing
Please clap
I become emotional whenever retirement comes to mind. I offer my heartfelt apologies to those who, after years of diligent work and saving for retirement, faced unexpected events that led to significant losses. This situation is especially harsh for retirees
Today, it’s easier to figure out how to improve your retirement savings. With inflation, you can use a professional portfolio manager to explore different markets passively. The impact of US dollar shifts on assets is complex
Even if finance isn't your strong suit, you can always bring in an expert. My $850,000 retirement fund took a nosedive in April, but I quickly called in a financial advisor. They crafted a smart plan to turn things around, and I’ve since pocketed over $250,000!
That’s wonderful! Do you think your advisor might be willing to speak with a stranger? I’m in serious need of proper portfolio allocation.
There are a few standout experts in this field. I’ve tested out a handful over the years, but June Renae Matthysse has been my top pick for the last five years. Her performance is consistently impressive, and she’s a real name to know in the industry. Check her out
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her
I'm 36 and I've been out of work so long I'm looking at homelessness as my only option. I've seen the same job reposted every week and I know for a fact that I am the only person to apply, yet nothing from them or anyone else. My final retirement might be before the new year and I will be forgotten. This is just depressing.
❤❤
Life Sucks.
Life ain't fair.
If your biggest problem in Life is "FINANCIAL"...
Then you're Not as "worse off" than you may think.
@@HughJass-313 It's certainly not my only "problem", just the most pressing
Must be a ghost job. The job market is bad.
Have you looked in the mirror? What do you bring to the table that the company would want you?
Pro tip: apply for more than one job.
My parents used to tell me they are fine and that my generation is too reckless (and therefore screwed). They are now depending on me to cover their expenses because they didnt realize how bad state pensions are.And when they sometimes ask me for extra money to buy something bigger, they justify it by saying they will be leaving me something to remember them by for when they are gone(i.e. the crap they are planning to buy).
You should say, You always said that my generation was reckless with money. Well, I'm about to show you that we're not." Don't let your parents impoverish you. If they aren't concerned about your future, then they're bad parents. Let's be honest; you know it's true. They don't deserve nonessential items if they expect you to pay for them.
Telling them no sometimes will actually help them.
At this point it just became easier to not disclose my full finansial situation with them so they would only be aware of my rainy day fund but not on the likes of pension or isa. Otherwise any "no" ends up leading to some kind of drama. Its incredible when I think how I grew up getting told as a kid that we cant have everything if I asked for the odd treats or toy (and quite rightfully). :)
Don't listen to them. Don't give them your money you need to survive and raise your children so they can continue to live luxurious lives. Give them gifts and some cash if you want to but you will never get anything that they buy for themselves.
Luckily, my parents never need to ask us for money (though, since I still live with them, instead of paying rent, I pay all their bills, which is significantly less than rent in my area. The total cost is probably less than half of the typical rent for a studio. Saving for a home some day....).
As such, they spend their SSI on vacations and whatever random things they buy. Any money they have left over, they give to me as "pay back", and I just add it to my savings and invest the money for them anyways.
It sucks for people in situations where they feel obligated to give money to their parents, and where the parents always feel entitled to their kid's money.
Its like sure, you raised me for at least 18 years, but that's not long enough to leech off of me for 30.
I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but l'll also have at least one pension, a 403 (b) and a very prolific Investment account with my Stephanie Janis Stiefel my FA. Retiring comfortably in the US these days is almost impossible.
I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
I plan on moving to the Philippines. Wbu?
I have a sis in Pretoria, South Africa. They have good healthcare and I plan on retiring there.
How can i reach her, if you don't mind me asking?
Please stop gentrifying countries
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
people just learned from corporations, if one company makes a mistake that their problem, if a bunch of them make a mistake its a bailout. just doing the same with people
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I work with Elisse Laparche Ewing as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
5:07 the irony of a law against age discrimination being applied only to some age categories...
Retired at 55 with $1.4M (60/40 split of stocks and bonds) liquid assets and about $300K in a paid off property/lot in Hawaii that I never built on. I'm now 57, have $1.5M liquid and am about to list the lot for $400k so I match this scenario pretty closely. Our budget since I retired was $9.2K/mo and we've spent only $8k on avg even with 6 months of global travel, a year living in Hawaii and golfing twice a week and some domestic travel. I too got similar (poor) results from my retirement planner but there was no way I would've kept working in a high stress job working 65hrs/wk average because of hypothetical scenarios and probabilities as we're highly adaptable... who in their right mind wouldn't cut back in discretionary expenses during a major recession? Besides, as long as you don't sell or do something dumb in a down market, historically they bounce back in 6 months on avg, maybe a year worst case so you just need to have about 1-2 yrs worth of cash (in a High yield MM) to live off of. At my age, worst case is I get a part-time job at Walmart or get a remote gig where I can work in my PJ's for a year to fund my discretionary spends and hobbies. My highly probable backup plan is to get travel health insurance for $500/mo for both me and my wife where we have to live abroad for 6 months and in the US for 6 months for a year or two. Already got quotes and can save $0.5 - 1k/mo in health insurance and travel abroad half the year. There are too many options to list but my advice is to retire as early as you can and be flexible. Is about financial literacy
Congrats, and spot on! I too am planning for around 55-56 retirement. The value of adding extra years early in retirement when you are most vibrant and active can't be overstated. The key is going in to retirement with a good financial planner, a good grasp of your real expense needs, and ideally having no debt over your head. And of course being able to adapt spending in cases of down markets etc. Glad you are living your best retirement life. Looking forward to joining your club!
The best guidance I have ever received. My plan is very similar to yours. I would like some advice regarding your CFA.
It would be really wise to look for financial consultants such as Becky Lou Gordon who can help you with insurance, investing, making sure your retirement is well funded, discussing tax advantages, and figuring out how to have a volatility buffer for investment risk. There is a rough patch ahead of us, and getting through it will need careful personal money management.
Thanks for sharing, I just looked her up on the web because this is equality important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@@RichardGeorge-pz3wm
This is bull. If course SOME people hit their FIRE targets. The point of the video is the VAST majority don't have two dimes.
And anyone can get sick, or divorced, or be a victim of economics or extreme weather or an accident..
Even Mr Smug.
Crab at 3:40 goes hard.
I hit $113k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
I would really love to know how much work you did put in to get to this stage.
It’s essential for you to have a mentor to keep you accountable. Myself, I'm guided by Daniel Adams Bailey. for years and highly recommend him I focus on him. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Wow! wow! please is there any way to reach he services?
Yes, I have his face book name⬇️
Daniel Adams Bailey
I know a guy who worked as little as possible, did whatever he could to stay on the taxpayers dime, work minimum to get through each month, etc. He told me recently that he is planning to retire early. I wish him a nice future but I am scared for him.
Boomer here. Paid off home and a near 7 figure retirement fund. I should be ok, but worry for my kids.
good for you
Good for you, but one illness and you could be broke and on the street.
Wait until it is taken from you with a bailin. Then you can worry about you.
@@justinfowler2857 Interesting comment. No, I'm not the type to spend it all just for another day in misery. No fear of death. Its one of life's certainties.
@@michaeldalton8374 Highly doubt that would occur. There is nothing more dangerous than an old man who has already lived his life and has nothing to lose. Worse would be to have a whole group of them...🤔
I'm retiring as soon as I can, so-called ready or not!
Besides, where are all of the opportunities for senior citizens gonna come from?
They barely want to hire you now once you turn 40. Smh! 😳
Seniors had the best opportunities since Ceasar walked the earth. Most fu**Ed it up...
Their problem..
My local Walmart, pretty sure the average age of the employees is around 65
@@cjhoward409 then you have to deal with Tim the Manager and he's no fun at all
I was forced to retire early, because I refused to get the mandatory Jab. It forced to me to make a complete lifestyle change, but i am now mortgage and debt free. i actually am now considered low income, but it doesn't feel like it. i am comfortable and have what I need.
Our entire system is unsustainable.
Indeed. We can't afford the boomer's entitlements... who is going to tell the boomers though?
They genuinely believe they actually paid for the entitlements.
This. The human race is not smart.
*built on exploiting developing countries
@@3lanksp_ce Found the communist.
@@3lanksp_ce, *Developing countries willing to exploit their own populations to acquire money.
The corporations can't just waltz into a developing country without that country's government allowing them to. Lol.
Its hard to feel bad for them just having difficulty at this point while being part of a generation who had these difficulties right out the gate. Im prob just too salty as well.
It's not hard to feel bad for them, it's when they are right next to the people that yell about how kids these days are just lazy
When I turned 18 inflation was running 10%. If you did not have a relative in a union most jobs paid minimum wage. It seemed old people had all the good jobs. We were still hearing true horror stories of the depression. A time of no food stamps, no minimum wage, no unemployment insurance. The more things change.....
@@dennismitchell5276inflation was high, but wages were way higher (proportionally), housing was way cheaper, garanteed investments gave way better returns, etc...
Also, we've had higher than 18% inflation on essentials since 2021. My grocery bill almost tripled (and yes, I keep track of it). They changed the way inflation was calculated in the late 80s and in early 2021.
@@Jet-ij9zc A three year period of inflation would have been closer to 30% back then. Some of what is relevant, but not to the degree you believe. Minimum wage could only afford a single room in the bad side of town. Guaranteed investments don't mean anything to a wage slave. I know today is bad and it is getting worse. I believe you are counting middle class figures. Many of us were not middle class. Without a union job, or equivalent management position people were pissed on. We lived paycheck to paycheck, broken down car if we were lucky. My transport was a $50.00 Yamaha 100, rain or shine. It has been many years since unemployment was a great fear. Hundreds of folk showing up for one job. It was huge to get a job at McDonald's. Different times buddy.
@@Jet-ij9zc minimum wage hasn't been raised in close to 20 years. Democrats are terrified of even forcing Republicans to vote on a ten cent raise. Back in the day minimum wage in California was the federal minimum. Now it's double federal. Neither party gives a shit.
Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Coin that will align with my risk tolerance and financial goals
While the market is promising, expert guidance is essential for effective portfolio management.
Opting for an inves-tment advisr is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
*''TRUDY ELIZABETH STOUFFER’'* a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market
Thanks, I found it. I booked a call with her on her website, her résumé seems pretty tight.
This pretty much means that my only option is to unalive myself while I still have life insurance.
How do you save with expenses this high? I just saw a guy unironically list a 1987 single wide trailer in a cow pasture down a dirt road at 1200 a month to rent. He had seven messages in fifteen minutes.
@nicolasgirard2808 yea until that becomes unsustainable
@nicolasgirard2808
Then we're back with multi generational households, something Americans balk at.
@nicolasgirard2808Going backwards in our standard of living is not a valid solution.Cost of living needs to decrease along with corporate profits while wages rise.
I am from the Netherlands, I am 33 and I put 750 a month for my retirement (pre tax) this is standard from the government. I have been saving for my retirement when Infirst started working. It’s just done automatically
The US has Social Security. It is taken out of people's paychecks.
But it is Not a retirement plan. We only put in enough for people to avoid "abject poverty".
Most people have personal retirement accounts, that are invested in the Stock market.
For the Boomers in the US, that actually saved/invested some of their money, they are fine.
@@andrewmattox1233 yeah I heard about it. The difference is in the Netherlands it is mandatory, I cannot stop it or control where it is invested in.
I had to take care of my grandpa, then grandma and mom all disabled. For over 10 years. Now I'm 35 wasn't able to date during that time, I had to focus all my free time into advancing my career while my brother stayed home to do the blunt of the work. I had to support us all off my money.
Thankfully I'm now good, but finding a relationship at this age isn't easy. But I'm just gonna focus on enjoying my life.
Don't rule out younger men. At 40, I married a man 7 years younger than I am. We've been together almost 30 years now.
@@edennis8578 glad that worked out for you. I am a man, so not looking to date younger men.
@@edennis8578 I'm a guy, not into men.
@@edennis8578 I am a straight man. Not a woman.
The day I found out that I wouldn't get to retire the same time as everybody else did that I was working with was a day I decided to quit trying.
They got super cheap houses relatively good pay locked in social security retirement at 62.
I'm 37 I guarantee they're going to make it 70 before I can get my social security.
And the kicker is I did the math I'd have like 1.4 million if I were able to just invest my own money and instead of social security handling it...
That's cute, you think your getting an SS
On top of the SS fund drying-up the market is due to implode.When it goes it’s going to make 2008 look like Christmas morning. Get out of the system.
@@calebbarnhouse496 govt can just raise FICA taxes 3% and make up for the shortfall. ppl will still work cuz they need the newest iphone lmfao
You have plenty of time to figure it out. You have another 25 years to invest at least.
I'm also 37, I hate to be the bearer of bad news, but we will not be getting SS...
We are already $35 Trillion in debt.
There is an additional unfunded liabilities:
$30 Trillion for SS
$45 Trillion for Medicare/Medicaid
*We can't actually afford to pay for the boomers entitlements.
Don't plan on getting SS.
Both my parents are retirement age… not retired. If boomers can’t retire what chance do Millennials or Gen Z? GG friends haha 😂😭
That's what they said when they were your age. It's bull
I’m a millennial and I have a city job that has a pension. That’s going to help me big time to retire on top of what I’m already saving. My goal is 60 but we’ll see
I retired at 53 now, 55. I have close to a six-figure portfolio, 70% income uk 🇬🇧 stocks, blue-chip companies, the rest in growth etfs sp500 nasdaq global technology, etc. I still like the growth aspect of investing but as my grandkids would inherit all this how best does all this get best managed for better returns?
My 401k went 100% in the S&P 500 when I started working in 1989. Left 100% alone till 2007 before it went to 666. Because of my 17 years in the 500, I was able to retire this year with $683k in the 401k (and a pension and rental income). There is no other way to retire before you are 70.
Absolutely! Wealth is made in growth investing . We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q3 taxable divs this year was $18,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
My CFA ’Amy Desiree Irish’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
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.
Thanks for this video! I almost accidentally had a good day today!
My plan is to work until I can’t and then move to Oregon just before I lose the ability to care for myself.
"More than a bucket of salt" is my newest best phrase.😂
Yeah... I really think a BIG part of it is that when you've worked for 20 - 30 years and you know what's what it's a HELL of a lot harder for the management to screw you over or take advantage of you. You know how you get screwed over by your manager? That doesn't happen so much with us old guys... In a lot of cases it's because we've got money saved (Because times weren't always as bad as they are now.) and we're willing to tell them, "Fine. Fire me. See how that works out for you." In some cases it's because we just don't care. Once your kids have moved out your only responsibilities are to yourself. Sometimes you just don't care any more.
I mean, a recent counterpoint to that is Boeing. They forced out almost all their QC (the old timers) and a lost a ton of experienced machinists due to their internal politicking and the pandemic.
They haven't reversed course...so it must not be in their best interest to do so. I'm sure theyve crunched their numbers.
I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collabrative efforts in the fund my estate planner has me invested in. I do not work.
I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
If I may ask, as in withdrew all of the money from the 401K and IRA programs? If so, what was your strategy behind that decision? Thank you.
My CFA Carol Vivian Constable , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
My dad's retirement plan was getting fired from his job two weeks after he was diagnosed with cancer.
The government extending retirement age means nothing, if companies are not willing to hire older people. Then older people are forced to retire. We’re not calling the shots, it’s American corporations calling the shots.
It means the people forced to retire early won't be able to get government benefits as soon.
Extending the retirement age isn't to make people work longer, it's to reduce the amount of money the government has to pay.
"Retirement age" is a misnomer. It jist means "the age at which government starts sending you Social Security checks". You can't retire on SS payments alone even if you live in a car
"But what can be done about this? As a society, not much unfortunately."
A spectre haunts
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
Thats sad you really hurting. But, what about people that don't have a $1000 dollars or living pay check to pay check. And Kamala taking their tax dollars to feed illegals, Medicare and social security. And to mention $25,000 to build a home. Maybe you should give them several grand of that $680, 000 to build them a home. Vote Trump and fix the problem.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
Could you possibly recommend a CFA you've consulted with?
Could you possibly recommend a CFA you've consulted with?
None of us are gonna retire, our retirement party is gonna be our funeral. Welcome to the future.
You seem to think you can keep your job after 50. Most people get laid off. It saves the company lots of money on health insurance. It's also illegal, but nearly always impossible to prove in court.i
So many major consultants are last retirement age. I can’t believe how old all these people are I work with. I’m like why are you still working. We just had a lady literally die this week and folks from work found her at home as she didn’t show up for work.
A life well lived, the one from your dead coworker lady... been missed because she didn't showed up at work
Right now my mom and I have had to take care of her dad who is 93, who has no large amount of savings, has *dementia,* is unable to work and yet somehow still has too much money to properly be housed in a retirement home that is specialized for such patients. So, in the meantime, since someone had to care for him, Mom and I moved, I lost my job and my mom lost her job and almost all of her savings, along with her brother also losing large amounts of money, just to deal with this problem. I haven't been able to find a job that pays reasonably, let alone that will hire me. My mom, who is over 65, can barely work part time at this point. I have barely any saving at 30+ years of age. Is it really any wonder that we have no hope for our futures.
10:02 im in this cycle, hoping to break this by not having kids
Hey,
Unfortunately that suggestion you gave to put money aside and invest for retirement does not work for a lot of people once there is not enough money left at the end of the month when you got a normal job and more than two children to support. And secondly, when you loose your job , you have to cut into your savings until they are depleted before you get unemployment money (at least is what’s here in Germany) so there is no bloody way to save anything.
In the US, you only get 6mos unemployment. If you're over 50, you won't find a job and you will spend all your savings before retirement age. It is a terrible effect of inter-generational age discrimination and cultish rapacious greed. Wait until Gens XYZ get to feel the wrath of their own generation's greed. They will have nearly ZERO jobs due to AI and androids. They are feeling smug now, but they will be wiped out. Schadenfreude will be the Boomers' sadly worthless compensation.
Yep. I retired after 25 years of teaching and here I am, working as a part time college instructor. I’m 61 and plan on doing this as long as I can
People, a machine is Going to take Your job. It's only a matter of time. We need to be having a different discussion, like what to do When that happens!
The rise of the machines 👀
Most of our jobs are being outsourced to other countries.
@@djbobby224
And those jobs are automated. Have you seen a Chinese factory lately? Just a bunch of machines lined up one after the other.
People do lots of things that they "can't afford". But they do it anyway...
such as eating, having a home, or requiring medical assistance
yeah, living is not mandatory, might as well give up
No, they don't.
My rich family kicked my disabled single dad (to two disabled children) out of the family company the second he got divorced. They then required due to him having money issues to take on full time care to his rich mom at 50…. Who just decided after her husband died she needed someone to replace him because she can’t do anything .
That dad died. Her two rich sons with 9 bedroom homes literally turned to me , food stamps on disability about to finish law school after dad wasn’t taken care of during his chemo by anyone but me specifically … asking me to not work a job to “take care of her” so they could work a job they never let me even have .
When I said “she and you guys can ask the other grandkids you have jobs to to help “ they flipped out and said that that isn’t fair
Thanks for my weekly existential dread. Best. Subscription. Ever.
The solution to an aging population is to study the problem until it is no longer a problem.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
@@ThomasChai05Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
*Izella Annette Anderson* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Hy, How can I reach them directly please?
Melissa Elise Robinson is the licensed fiduciary I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I was forced to retire at 59 because I couldn't get a job after being laid off. It turned out to be a blessing. After 8 months of living life at my pace, I awoke one morning painfree for the first time since I got hurt in the Army in the 1970s. I've been getting by on my retirements. 10 years ago, I had a comfortable savings increase each year because my pensions exceeded my bills. Now, with inflation that buffer is almost nothing. I cut take out meals from twice a week to once a month now. I shop local sales and coupons as much as possible. It is going to get tough. Most of us Boomers that are now comfortable, worked a lot of 80 hour weeks to get where we are. Most of us paid off our mortgages(10% rate in those days) in our 40s. Good Luck, Rick
Loved that you mentioned the funding of the research.
"the Peak Boomers Impact Study"
how did you resist calling this the PBIS out loud???? so powerful
Truth is, game was rigged from the start.
And they vote to keep it that way
No boomers were a bunch of hippie losers their entire lives. They had fantastic opportunity and they threw it all away!!completely their fault!!
@@alexj-t2331 Voting does nothing, its entertainment. No choice exists, the current choice is between continued corporate control or the oligarchs themselves. Much like the illusion of freedoms between totalitarianism and authoritarianism... At least in the USA the government was captured by corporations and the rich decades ago.
Your genetics also play a huge role in determining your intelligence, so yes life is pretty much all about luck.
My father is in his 80s and my mother died in her late 50s. My father couldn’t understand why I was concerned about/expecting her to have Life Insurance, but then I pointed out: We got rid of pensions, so life insurance is all a lot of people have left (most jobs, even the worst, usually gave me about $100k in life insurance).
So now, functionally, literally the plan is death and your survivors scraping by with what’s left after that persons debts have gone after the estate.
GennX here, I’ve paid somewhere between $5000 and $7000 a year into social security since I was 18. I’m 50. $200,000 compounded at 7% is a LOT of money, and I’d better fucking get it!
you won't
You don't pay into a system. That;s not how it works. Your taxes fund the elderly people retired right now. In 40 years the taxes of those working then will fund the current retirees.
@@LC-wv7tz that is a system, though.
@@suzanrosner9208 the one group Putin won't piss off are the pensioners. He bends over backwards to keep them happy, even publicly backtracking new policy and apologizing to them on air on multiple occasions. Think about that.
That’s why I left at 63. Get some while the getting is good.
I’ve been saving for a long time instead of investing, and right now I only have about $516k. I'm not sure how to make it grow, considering all the inflation, into something substantial that I might use for retirement. I’m just here for ideas
50% stock, 20% Bitcoin, 20% high yield CD/ bonds, 10% cash/ fully liquid stable asset
At a point like this, it's best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds.
At 66, my IRA and cash accounts are far more than I expected for my retirement. I can easily handle a worst-case 80% stock mkt crash, Thanks to my advisor.
I could really use the expertise of this advsors
*Marissa Lynn Babula* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Since this is a money channel too, as an Italian I feel personally attacked at seeing meal box subscription charging you upwards of 10$ a meal for some re-heated shit. That's airplane level food. You can afford better, cook better, and just do better.
That was the saddest bit of this video, wake up guys that's robbing you AND killing you at the same time
Retired at age 53, I am in my early 60s. Because they couldn't understand the idea of not working if you don't have to, many individuals resisted me. I viewed my life in phases. In my latter years, I owe it to myself to "stop and smell the roses," even if I have worked hard to get everything I have now. My situation is that I retired and moved to Latin America. It made it possible for me to enjoy my new surroundings while escaping all the bad things that were going on in America. None of the people I've met regret retiring.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Thank goodness the unalive capsules are almost ready.
Are they?
They're gradually being approved,Candace recently approved them @@zetaforever4953
Sarco pods all the way!
You're in for the adventure of your life. The best stories start when the hero hits rock bottom. Don't forget to stream it on TH-cam though!