70 to 80 percent rule. Still working and I take out close to 25 thousand out of my gross income for 401K, HSA and other insurance plus FICA and Medicare. that leaves me with about 42 in spendable income. Then I put another 10 K into my IRA and personal HSA leaving me to live on 32 K. So the 70 percent seems reasonable.
Why don't they ask someone with experience, it is not rocket science, save, invest, live within your means all your life and retire with the same thoughts. We have been retired 10 years, have a mobile home in Florida, a home in Canada both paid for and we still have saved money every year of our retirement. One secret or should I say rule, don't try to get rich quickly, buy good dividend stock, put them on drips to get more stock from the dividends, always pay yourself first and most important don't chase the market. Buy good stock, do it yourself without fees to other people through a discount broker and diversify your holdings.
I invested in people, have a little saving, and can live for now on my retirement income. I am 75, and worked from 7-70, but retired at 58 for 2 years. My retirement income is not going up as high as the COLA. I still try to save a little each month for emergencies, gifts, and any vacation, I may want to take. I was smart enough to travel on my vacations from 20-72. Life is not guaranteed, so enjoy your life, for we are going to die, and will take nothing with us. Leave behind good memories. Medicare is taking our SS COLA. I can work online to keep up with the high rent increase, or I can move to a cheaper country. I want to die, if I cannot take care of myself. No nursing home! Medicare needs to pay for out of the country retirees, for it is cheaper.
My home is my long term care pack up. being single I will sell my home. In 20 years it will be worth over 600K. more than enough to pay for 10 years of LTC,.
@@rodriguezmartin9172 You can venture in crypto or stock trading … and make money. The good thing is. You only need a broker who will help you out. I’m into that and I make good money too.
Crypto trading is investment and trading of digital currencies that can earn you good profit if you are properly guided on it, I’d recommend a broker Ms Delia Luna, she mentors me too.
Ask someone like me who has retired comfortably for 21 years. Glad you ask. I did not retire until my pension and SS equaled 80% of my take home pay. My current retirement income is 45K and my living expenses is 35K. The devil is in the details. I have no debts and am still married with an empty nest.
The focus on nursing home costs was interesting. Try home health with a home aid. Costs considerably less and your dignity is maintained. Nusing home policies are out of reach for the average person anyhow, get honest with people. Geez.
70 to 80 percent rule. Still working and I take out close to 25 thousand out of my gross income for 401K, HSA and other insurance plus FICA and Medicare. that leaves me with about 42 in spendable income. Then I put another 10 K into my IRA and personal HSA leaving me to live on 32 K. So the 70 percent seems reasonable.
Why don't they ask someone with experience, it is not rocket science, save, invest, live within your means all your life and retire with the same thoughts. We have been retired 10 years, have a mobile home in Florida, a home in Canada both paid for and we still have saved money every year of our retirement. One secret or should I say rule, don't try to get rich quickly, buy good dividend stock, put them on drips to get more stock from the dividends, always pay yourself first and most important don't chase the market. Buy good stock, do it yourself without fees to other people through a discount broker and diversify your holdings.
Retired Snowbird
You're making way too much sense...stop it.😊
You and I got a lot in common. I, too, am retired comfortably with no worries. It takes good planning , which most folks don't do.
I invested in people, have a little saving, and can live for now on my retirement income. I am 75, and worked from 7-70, but retired at 58 for 2 years. My retirement income is not going up as high as the COLA. I still try to save a little each month for emergencies, gifts, and any vacation, I may want to take. I was smart enough to travel on my vacations from 20-72. Life is not guaranteed, so enjoy your life, for we are going to die, and will take nothing with us. Leave behind good memories. Medicare is taking our SS COLA. I can work online to keep up with the high rent increase, or I can move to a cheaper country.
I want to die, if I cannot take care of myself. No nursing home! Medicare needs to pay for out of the country retirees, for it is cheaper.
My home is my long term care pack up. being single I will sell my home. In 20 years it will be worth over 600K. more than enough to pay for 10 years of LTC,.
I’m retiring next month. And I’m a bit nervous on how to keep up with my kids.
Same here mine is till next year end.
I’m the only one taking care of them. Don’t think my pension will be enough.
Oh. But you can get your hands into trading and investing in stocks and crypto. One is never to young or too old for that.
@@brandontgreen6742 Please what do you mean by trading??
@@rodriguezmartin9172 You can venture in crypto or stock trading … and make money. The good thing is. You only need a broker who will help you out. I’m into that and I make good money too.
Crypto trading is investment and trading of digital currencies that can earn you good profit if you are properly guided on it, I’d recommend a broker Ms Delia Luna, she mentors me too.
Ask someone like me who has retired comfortably for 21 years. Glad you ask. I did not retire until my pension and SS equaled 80% of my take home pay. My current retirement income is 45K and my living expenses is 35K. The devil is in the details. I have no debts and am still married with an empty nest.
Good for you! You are very blessed! Not many have the same inituition, or get the same advice. You chose to live frugal and plan correctly!
Rents are too high.
The focus on nursing home costs was interesting. Try home health with a home aid. Costs considerably less and your dignity is maintained. Nusing home policies are out of reach for the average person anyhow, get honest with people. Geez.
This guy looks like a young bill gate
If disqualified from long term care you are upacreek
Jeremy exhibited a lot more personality than usual in this video...always a cutie though.
I don't have any interest in retiring. I will leave that to others'
Life has a way of retiring you beyond your will.