BLACK FRIDAY SALE!! Code: OPTIMIZE20 Academy: ari-taublieb.mykajabi.com/early-retirement-academy Find out: - How and where you should be saving your money - When work can become optional - Run what-if scenarios - Model Roth conversions - Run healthcare analysis - so much MORE! If you’re in the academy, comment below if it’s helped you 😊
Its not "You can never have too much money" which is true, you can't have too much. The issue instead is "Your cost to have more money can be too high". Its trade off of the limited time you have left with good health versus accumulating more wealth. Trading "one more year" of accumulation versus spending.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skills and knowledge
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an expert to help in diversifying your portfolio to spread out the risk.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically taking profits just before the market correction, I'm now seizing buying opportunities once again.
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
OMG!!! You hit the nail on the head! I am single woman, 52 years old. I diligently saved! I had to work in my 40’s for my daughter and health insurance. I have a leg condition that made it difficult for me to be on my legs and a neck injury from falling in college (NO I was not drunk). To be able to function at work I needed weekly 90 minute massages and Physical Therapy is a must! It is the only way I can have any type of life. Your recommendation to this lady is spot on!!! It is worth every penny. I wish I had seen videos like this while I was in my 40’s, I would not have put all my money into my retirement accounts. I am now stuck having to wait until 55 to retire. I am counting down the days! Keep up the great videos
It seems that when people are in good health, their focus is money money money. All it takes is a life changing event to shift the focus to good health. If you lose your health, you will gladly give up the surplus of money to once again enjoy good health. Do Not Take Your Health For Granted!!!
With assisted living or nursing homes being so high now, it's hard to decide whether to dip away on splurges now vs setting a good amount for the day you can no longer live in your own home. It's almost, damned if you do, damned if you don't. You keep us well informed Ari, keep 'em coming! ❤
Do both. Check out "long term care resorts". They exist in many countries and the cost ranges from about $1000-5000/mo USD. I'm moving to SE Asia next year. I'm 67, very healthy, but want to prepare. I can move into one of these places while still healthy. They aren't what you probably picture. Beautiful grounds and anything from a small apartment to a 2 or 3 bedroom villa. They have nurses on site and medical equipment needed for emergency care. If I have to go to the hospital they will send an attendant to be with me 24/7. As my needs increase I can add services all the way up to my own 24/7 private nurse. Or create your own "nursing home". I can rent or buy a condo or house and hire a live-in housekeeper who does everything 6 days a week, including some elder care for $75-200/mo USD plus food. A live-in fully trained caregiver is $500-1000/mo. Or if single you can marry a much younger local who can take care of you, and/or manage your care. 1000's of men are doing this and some women. It seems like US women have a hard time accepting a much younger man that they would have to support would love them, but it is possible. I know 2 cases, assume many more. I've been researching for 4 years and these are the best caregivers in the world. They live with you and you're helping them a lot too so a strong bond can form because you're helping each other. And SE Asia has a culture of taking care of old family members because few have the option to live in a nursing home. Medical care can be as good as in the US with one exception... almost no waiting. In the US a person can wait months for an appointment. In Thailand, Malaysia, Vietnam and other places you can get an appointment with even a specialist in a couple hours, couple days max. Preventive care is also much better imo. In the US very few people can afford MRIs as part of a routine checkup. But in SE Asia and other areas that level of screening is very affordable. All done in one day and generally the same day specialist review results with you as needed. Some Americans fly there just for the ""health checkup packages". Health insurance there is reasonable, but does increase with age to about $500/mo after 80. Many people just pay out of pocket. $200-300k cash would probably be enough to cover multiple major issues.
Thankfully when quality of life fades and dignified living is lost, Medicare is there to keep us alive because medical science can. Prefer compassionate euthanasia? I hear Medicare Advantage is the ticket...
@hrw3mom103 There's some truth to that but probably more wishful thinking.... We get old, some of breakdown and fall apart if we stay here long enough
I retired 22 years ago at 45 without a pile of money. I loved my career, just loved the added freedom more. The pile of money thing only matters if your idea of fun is spending money. I totally understand when working a person can think of a million things to buy that would fun. IMO it's better to spend years working at a job you love, at least like. Then in retirement do whatever. To me there was no real difference in working and retirement. Happy is happy. My total spend has averaged $592.04/mo for the past 21 months. Not spending to me is fun. I like cooking for myself. For years I ate out nearly everyday. Sometimes it was fun, often the service was poor and I'd be unhappy. Just trying to decide where to eat next got to be a chore. That's all going to change for me next year when I sell my house and move to SE Asia. My spending will be about $5800/mo and $500k cash. I'm 67, still very healthy, but want to prepare for extreme old age. So I'll set up a homebase for travel, hire a driver, housekeeper/assistant to travel with me. I'll also be checking out long term care resorts.
I'm 62 and planning on retiring at 66 and am in a similar financial situation. My wife and I are also starting to take our vacations while still working. I've been seeing videos lately pointing out how much compound interest matters compared to contributions, so it's time to start spending salary and letting my accounts do their magic on their own.
My father retired at 60 with a state pension, died in his sleep unexpectedly a year later. I'm that age now. So I am really pulling back from work. Just need to make it to Medicare
I’m in poor health at age 47. Cancer runs in my family too. Sister died at age 49 of cancer. I rather be poor and in perfect health than have 3 million and have bad health. We are projected to have more than 3 million at age 55. It’s when I’m retiring with rule of 55
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.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
"Sophia Maurine Lanting" serves as my advisor, bringing extensive qualifications and experience in the financial market. Her deep understanding of portfolio diversity positions her as an industry expert. I suggest delving into her credentials for further insight. With her considerable experience, she offers valuable guidance to anyone seeking to navigate the complexities of the financial market
Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
I think one problem is the line of reaching financial independence is blurry and difficult to tell especially when you are still raising kids and have family or parents that may need help down the line and have to think about the what ifs.
Ari, can you make a video about in-plan conversions from traditional to Roth 401k? My employer's plan allows for me to be vested in both Roth and traditional, but they are reluctant to allow me to convert the traditional and pay the taxes on it. Why is that? If they won't do the conversion in-plan, is there a work around?
Been watching your videos for a while now and find great information included in them. One question I have come up with is….husband and wife both work with similar salaries. I see most of your examples use social security income projections. Let’s assume 15K per month of income is needed for expenses, 6K of which comes from SS payments and that leaves 9K to come from other sources. Your projections do not seem to include the possibility of 1 spouse significantly outliving the other, meaning their SS payment stops. How would you go about that scenario if 1 spouse passed away at 80 but the other lived well into their 90’s
So if $3MM is too much for one person, is it enough for 2? Does being a couple mean you need twice the amount saved? Or is the equation different from that?
It’s not really a fair assessment. Money unspent and invested, continues to grow. At the end, everyone should have money left on the table. If spent too early, you will not be complaining to an advisor about the regrets of not going on enough vacations. Besides, who spends money just for the sake of spending money? This mindset of, I have X so then I can spend X, is so foreign to me. If you are waiting until retirement to “live” and you consider “living” as the ability to spend money, then you have lived a sad life. Be safe out there.
She's not sick - she reportedly suffers from sciatica, which is incredibly common, and in most cases is entirely treatable. Hope she tries to get some help for that.
@@athens31415 Sciatica can be chronic, going away and returning. IMO treating it quickly is the best choice. Her continuing to work/sit will just make sciatica more of a long term risk. But she's continuing to work with sciatica makes no sense. That would drive a normal person to quit working in order to get the sciatica to go away. I assume the video made up the whole thing. Common.
@@buckwildz Lumbar radiculopathy symptoms, although similar, are not "sciatica". Central vs peripheral etiology, etc. Docs make good money identifying (and then treating) the root cause of gluteal / leg (normally posterior) pain. :). I'm not an expert in health insurance, but both are extremely common, and I'd be surprised if baseline interventions aren't covered to some extent by most insurers.
She regrets it now but if she wasn't sick she wouldn't. No one knows if we ill get sick or not. I would definitely retire earlier if I knew 100% that I would get sick, but since I don't know, i want to have $2.5 MILLY 💰💰💰💰💰 when I retire at 60 years old. Lol 😂😂😂😂😂
She's mad she has 3 million dollars and I'm mad I don't have 300 dollars pay my rent this month. We all have more in common than you think. One thing I do totally agree with her is that I don't like a downward sloping graphs either..lol.
She should retire and work on health ASAP. Diet - cut out all the ultra high-processed foods, eat organic, eat grass fed, grass finished meat, wild caught fish. Yes, more expensive but if you can afford it... You cannot put a price on health. Take up Yoga, that will probably cure your Sciatica. Join a gym and do some strength training.
So true!! I retired this year just shy of 57. I treat my health and wellness as my ‘new’ job!! I go to the gym MWF doing weights and cardio then T, Th & Sa ….I walk 4-5 miles. Eating healthy and enjoying the freedom 🎉
@@athens31415 Changing your diet will. I’m not sure why people find it better to stay in pain and rely on drugs that don’t work without even trying to change their diet.
@@silentnot4812 Oh yes --- diet will cause your bones to move in a different way so as to cure an ailment essentially from bone structure misalignment --- you probably also believe jumping off the Empire State Building will cure cancer! News flash: The Earth is round.
@@athens31415 - Stretching is VERY important to helping with Sciatica--Yoga will definitely help. I've had it. Chiropractor, stretching, sitting properly, bed change, etc. Proper body movements/posture. Time is also very important. It will take MONTHS of doing these things before pain reduces.
BLACK FRIDAY SALE!! Code: OPTIMIZE20
Academy: ari-taublieb.mykajabi.com/early-retirement-academy
Find out:
- How and where you should be saving your money
- When work can become optional
- Run what-if scenarios
- Model Roth conversions
- Run healthcare analysis
- so much MORE!
If you’re in the academy, comment below if it’s helped you 😊
Its not "You can never have too much money" which is true, you can't have too much. The issue instead is "Your cost to have more money can be too high". Its trade off of the limited time you have left with good health versus accumulating more wealth. Trading "one more year" of accumulation versus spending.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skills and knowledge
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an expert to help in diversifying your portfolio to spread out the risk.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically taking profits just before the market correction, I'm now seizing buying opportunities once again.
Consulting with a financial consultant can provide personalized insights and help align your investment strategy with your retirement goals.
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
Most people miss it but the secret to retiring comfortably is finding a way to make returns while your money works for you.
Yeah, Ari is young, and he’s insightful and approachable. Keep at it Ari! I appreciate your videos so much!
OMG!!! You hit the nail on the head! I am single woman, 52 years old. I diligently saved! I had to work in my 40’s for my daughter and health insurance. I have a leg condition that made it difficult for me to be on my legs and a neck injury from falling in college (NO I was not drunk). To be able to function at work I needed weekly 90 minute massages and Physical Therapy is a must! It is the only way I can have any type of life. Your recommendation to this lady is spot on!!! It is worth every penny. I wish I had seen videos like this while I was in my 40’s, I would not have put all my money into my retirement accounts. I am now stuck having to wait until 55 to retire. I am counting down the days! Keep up the great videos
Thank you! Wishing you the best. Hope your health improves every day.
It seems that when people are in good health, their focus is money money money. All it takes is a life changing event to shift the focus to good health. If you lose your health, you will gladly give up the surplus of money to once again enjoy good health. Do Not Take Your Health For Granted!!!
My comment was called out in the video. Wow! I spend too much time on TH-cam, but never waste a minute listening to Ari. Keep going, sir!
❤️
With assisted living or nursing homes being so high now, it's hard to decide whether to dip away on splurges now vs setting a good amount for the day you can no longer live in your own home. It's almost, damned if you do, damned if you don't. You keep us well informed Ari, keep 'em coming! ❤
Do both. Check out "long term care resorts". They exist in many countries and the cost ranges from about $1000-5000/mo USD. I'm moving to SE Asia next year. I'm 67, very healthy, but want to prepare. I can move into one of these places while still healthy. They aren't what you probably picture. Beautiful grounds and anything from a small apartment to a 2 or 3 bedroom villa. They have nurses on site and medical equipment needed for emergency care. If I have to go to the hospital they will send an attendant to be with me 24/7. As my needs increase I can add services all the way up to my own 24/7 private nurse.
Or create your own "nursing home". I can rent or buy a condo or house and hire a live-in housekeeper who does everything 6 days a week, including some elder care for $75-200/mo USD plus food. A live-in fully trained caregiver is $500-1000/mo.
Or if single you can marry a much younger local who can take care of you, and/or manage your care. 1000's of men are doing this and some women. It seems like US women have a hard time accepting a much younger man that they would have to support would love them, but it is possible. I know 2 cases, assume many more.
I've been researching for 4 years and these are the best caregivers in the world. They live with you and you're helping them a lot too so a strong bond can form because you're helping each other. And SE Asia has a culture of taking care of old family members because few have the option to live in a nursing home.
Medical care can be as good as in the US with one exception... almost no waiting. In the US a person can wait months for an appointment. In Thailand, Malaysia, Vietnam and other places you can get an appointment with even a specialist in a couple hours, couple days max.
Preventive care is also much better imo. In the US very few people can afford MRIs as part of a routine checkup. But in SE Asia and other areas that level of screening is very affordable. All done in one day and generally the same day specialist review results with you as needed. Some Americans fly there just for the ""health checkup packages".
Health insurance there is reasonable, but does increase with age to about $500/mo after 80. Many people just pay out of pocket. $200-300k cash would probably be enough to cover multiple major issues.
Thankfully when quality of life fades and dignified living is lost, Medicare is there to keep us alive because medical science can. Prefer compassionate euthanasia? I hear Medicare Advantage is the ticket...
Do you know what happens if you retire early? You have time to focus on your health! Hopefully you won’t need assisted living.
@hrw3mom103
There's some truth to that but probably more wishful thinking....
We get old, some of breakdown and fall apart if we stay here long enough
@@hrw3mom103 -I did at 54, but when you get too old to live it up, you just might need it, especially if you don't have family to check on you.
Your client is crazy. Wishing they would have retired earlier, but is still planning on working longer. How about stop next week.
I retired 22 years ago at 45 without a pile of money. I loved my career, just loved the added freedom more. The pile of money thing only matters if your idea of fun is spending money. I totally understand when working a person can think of a million things to buy that would fun. IMO it's better to spend years working at a job you love, at least like. Then in retirement do whatever.
To me there was no real difference in working and retirement. Happy is happy. My total spend has averaged $592.04/mo for the past 21 months. Not spending to me is fun. I like cooking for myself. For years I ate out nearly everyday. Sometimes it was fun, often the service was poor and I'd be unhappy. Just trying to decide where to eat next got to be a chore.
That's all going to change for me next year when I sell my house and move to SE Asia. My spending will be about $5800/mo and $500k cash. I'm 67, still very healthy, but want to prepare for extreme old age. So I'll set up a homebase for travel, hire a driver, housekeeper/assistant to travel with me. I'll also be checking out long term care resorts.
You mean discretionary spending? My health insurance is more than that.
right that wouldnt cover my property tax and home/car insurance.
Good thoughts. It’s easy to work and not think about what your $$ needs are in retirement.
Great video! Thanks for this :)
I'm 62 and planning on retiring at 66 and am in a similar financial situation. My wife and I are also starting to take our vacations while still working.
I've been seeing videos lately pointing out how much compound interest matters compared to contributions, so it's time to start spending salary and letting my accounts do their magic on their own.
My father retired at 60 with a state pension, died in his sleep unexpectedly a year later. I'm that age now. So I am really pulling back from work. Just need to make it to Medicare
You're the best Ari!
I’m in poor health at age 47. Cancer runs in my family too. Sister died at age 49 of cancer. I rather be poor and in perfect health than have 3 million and have bad health. We are projected to have more than 3 million at age 55. It’s when I’m retiring with rule of 55
Yes and eat healthy and get your blood tested every 4 months!
Cancer is survivable if you get it early enough!
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.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
"Sophia Maurine Lanting" serves as my advisor, bringing extensive qualifications and experience in the financial market. Her deep understanding of portfolio diversity positions her as an industry expert. I suggest delving into her credentials for further insight. With her considerable experience, she offers valuable guidance to anyone seeking to navigate the complexities of the financial market
Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
This is 100% correct!
I think one problem is the line of reaching financial independence is blurry and difficult to tell especially when you are still raising kids and have family or parents that may need help down the line and have to think about the what ifs.
You'd never hear that from me. If my health kills me before I can spend my money, oh well. The neices & nephews are set.
I'm with you!
I'm leaving a legacy and I'm NEVER going to worry about running out!
You reference the advisor that says they target 60-70% success and readjust. Is that what you typically do as well?
Ari, can you make a video about in-plan conversions from traditional to Roth 401k? My employer's plan allows for me to be vested in both Roth and traditional, but they are reluctant to allow me to convert the traditional and pay the taxes on it. Why is that? If they won't do the conversion in-plan, is there a work around?
Been watching your videos for a while now and find great information included in them. One question I have come up with is….husband and wife both work with similar salaries. I see most of your examples use social security income projections. Let’s assume 15K per month of income is needed for expenses, 6K of which comes from SS payments and that leaves 9K to come from other sources. Your projections do not seem to include the possibility of 1 spouse significantly outliving the other, meaning their SS payment stops. How would you go about that scenario if 1 spouse passed away at 80 but the other lived well into their 90’s
So if $3MM is too much for one person, is it enough for 2? Does being a couple mean you need twice the amount saved? Or is the equation different from that?
Thank you 52 year old man wanting to retire asap
It’s not really a fair assessment. Money unspent and invested, continues to grow. At the end, everyone should have money left on the table. If spent too early, you will not be complaining to an advisor about the regrets of not going on enough vacations. Besides, who spends money just for the sake of spending money? This mindset of, I have X so then I can spend X, is so foreign to me. If you are waiting until retirement to “live” and you consider “living” as the ability to spend money, then you have lived a sad life. Be safe out there.
She's not sick - she reportedly suffers from sciatica, which is incredibly common, and in most cases is entirely treatable. Hope she tries to get some help for that.
And just how much do you think it costs to treat sciatica for the rest of your life?
@@athens31415 I had it. I just did physical therapy and was fine in a few months.
@@athens31415 Sciatica can be chronic, going away and returning. IMO treating it quickly is the best choice. Her continuing to work/sit will just make sciatica more of a long term risk. But she's continuing to work with sciatica makes no sense. That would drive a normal person to quit working in order to get the sciatica to go away. I assume the video made up the whole thing. Common.
Insurance covers treatment of chronic sciatica, or as it is known medically, radiculopathy.
@@buckwildz Lumbar radiculopathy symptoms, although similar, are not "sciatica". Central vs peripheral etiology, etc. Docs make good money identifying (and then treating) the root cause of gluteal / leg (normally posterior) pain. :). I'm not an expert in health insurance, but both are extremely common, and I'd be surprised if baseline interventions aren't covered to some extent by most insurers.
Who wants to be the richest guy in the cemetery?
She regrets it now but if she wasn't sick she wouldn't. No one knows if we ill get sick or not. I would definitely retire earlier if I knew 100% that I would get sick, but since I don't know, i want to have $2.5 MILLY 💰💰💰💰💰 when I retire at 60 years old. Lol 😂😂😂😂😂
She's mad she has 3 million dollars and I'm mad I don't have 300 dollars pay my rent this month. We all have more in common than you think. One thing I do totally agree with her is that I don't like a downward sloping graphs either..lol.
What is a superhero account?
Brokerage
She should retire and work on health ASAP. Diet - cut out all the ultra high-processed foods, eat organic, eat grass fed, grass finished meat, wild caught fish. Yes, more expensive but if you can afford it... You cannot put a price on health. Take up Yoga, that will probably cure your Sciatica. Join a gym and do some strength training.
So true!! I retired this year just shy of 57. I treat my health and wellness as my ‘new’ job!! I go to the gym MWF doing weights and cardio then T, Th & Sa ….I walk 4-5 miles. Eating healthy and enjoying the freedom 🎉
Yoga doesn't cure Sciatica -- what TF are you even talking about? You're just a shill.
@@athens31415 Changing your diet will. I’m not sure why people find it better to stay in pain and rely on drugs that don’t work without even trying to change their diet.
@@silentnot4812 Oh yes --- diet will cause your bones to move in a different way so as to cure an ailment essentially from bone structure misalignment --- you probably also believe jumping off the Empire State Building will cure cancer! News flash: The Earth is round.
@@athens31415 - Stretching is VERY important to helping with Sciatica--Yoga will definitely help. I've had it. Chiropractor, stretching, sitting properly, bed change, etc. Proper body movements/posture. Time is also very important. It will take MONTHS of doing these things before pain reduces.
with that much money, she can afford some good surgeries to fix her sciatica.....
Good video. I dont care how much money you have saved. If you dont have your health, whats the point?
Everyone who reads this, we don't know each other and probably never will but I wish you all the best in life and all the luck in the world