High prices for everything have severely affected my plan of retiring. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
Melissa Terri Swayne has always been my top choice. She’s widely regarded as a genius in her field and possesses extensive knowledge of financial markets. If you're looking for outstanding collaboration, I highly recommend checking her out.
I searched and located her on the web, I sent her an email, and scheduled a call; hopefully, she will reply because I want to start off the new year financially strong.
Used to work 60 plus hours every week under constant stress. Horrible for my mental and physical health. Left that career 5 years ago, now make half as much, never more than 40 hours a week, and never stressed. My quality of life is so much better despite making half what I used to. Health is everything, money is not!
That’s exactly what my dad did. Used to be a truck driver and quit. Found a job as a basic maintenance/porter, took a small pay cut but says he likes it way better, only 40 hrs week.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
The problem is the budget keeps moving, inflation is still a problem... so this applies to retirement savings and makes it harder to know how much is enough.
"About 45% of Americans will run out of money in retirement, including those who invested and diversified." So, the greatest issue might be running out of money than saving too much.
Agree. Once you reach a point where you saved 'too much' my suggestion is to stop saving for retirement using your own discretionary income. Especially when you already paid of your home. I stopped doing that a couple of years ago. Only saving for retirement via employer benefits to get the match, and reinvesting dividends. The surprising thing is it takes a lot of time to adjust. Sometimes you just have to kick yourself in the butt, spend the money and stop worrying about it. Life is too short.
I am buying more VGT, SCHD & VOO. Many of us have a boatload in the S&P500 index in ROTH, still have the bulk of my $500k retirement portfolio in VGT. In my taxable account, i try to beat my roth and i know it can be done but i am still underperforming the S&P500.
I’m taking the hybrid approach, VOO, SCHD as my foundation, with growth like MA, UNH, HD. And slow growth like O and PEP. I have a 20 year time horizon. But the best part is I still enjoy my life while I do this. Travel, and buy ONLY things I love. It’s the best combo, plus I love the small victories with receiving dividends/dividend growth/share price appreciation.
VGT is an excellent portfolio addition, but relying solely on it for retirement may not be optimal. I retired at 62, grew my portfolio to $3.4 million in little over 10 years through the help of a fiduciary and dividends now supplement my retirement income. Invest wisely, build your nest egg, and don't sell the chicken that lays the egg!
Your fiduciary seems highly competent. May I ask if you are still working with the same fiduciary, and if so, what's the best way to get their attention.
Certainly, I am still working with Stacy Lynn Staples. Having her in my corner has been a game-changer for my financial well-being. Her ability to simplify complex financial concepts and provide tailored solutions is commendable. Stacy's passion for her work shines through, making the financial planning process not only effective but also enjoyable.
Excellent share, just inputted her full name on my computer and searched online, top-notch credentials. I've seen commentaries about advisers, but not one looks this phenomenal.
The fidelity figure doesn’t take into account that your salary increases dramatically in your 30s or 40s. So when you are 40, is the salary benchmark the one at age 30 or 40?
is it bad that all 5 signs apply to me, Azul? 😂 seriously, you've helped change my mindset. actually throttling back my 401k contributions. zero-based budgeting and not sweating the little expenses so much.
We maybe saved a bit too much. We didn't short ourselves on living life in the present. And we both have, or had - I'm retired now, jobs that we liked and were low stress. We also got a late start and so knew we had to make up for lost time and that's _hard_ so we were pretty focused on building up the nest egg. All in all I'm ok with having overshot the mark a bit. Better than the opposite. I agree though many people are being sold a lot of FUD (fear, uncertainty, and doubt) by financial companies and social media in general. If you've got a broker or advisor that seems to be churning your investments and always is after you to invest more and more, if that were me I'd look around a bit. Get some other opinions.
The general theme of this channel is to retire in your 50s or early 60s at the latest. I suspect those Fidelity numbers are for those who retire at 67. What would those numbers be if you want to retire at say 50 or 55 or 60?
Maybe I need to ease up on saving so much… But isn’t the whole point to have that cushion? I’d love to know if anyone else has had to make this decision! 🤷♂💸
“When we retire”… that was our some day phrase. Well, unfortunately that will never happen now🥹. Don’t wait. Money is important, certainly, but accumulating it at the expense of putting off what truly matters is not worth it.
Except for the little segment about how much you have saved compared to your salary, these could all be signs you are broke, or that you need to make more money, or that you are realistic about you finances. Without any context most of these "signs" are meaningless. If you make minimum wage and live in Manhattan, 'someday' is the right answer for almost everything.
Only thing I “scrimped” on was auto expenses. We have had good practical cars that we kept for 12 to 20 years. I eat well from healthy restaurants and organic market foods. I love quality clothes and shoes and only buy a few because they last so long. Now I want a frivolous luxury car that I can easily afford but not in the habit. I am definitely an over saver who never had money problems. My first car was a 1964 Plymouth that I got for free in 1974 and used for 11 years. Probably it is time to get that BMW plug in? 🤔😂
Azul only looks at one side of issues. He has done a couple videos on not moving to Florida but nothing on Minnesota, NY, or California. Be very wary taking advice from this guy.
I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated.
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market..
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?
High prices for everything have severely affected my plan of retiring. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
Melissa Terri Swayne has always been my top choice. She’s widely regarded as a genius in her field and possesses extensive knowledge of financial markets. If you're looking for outstanding collaboration, I highly recommend checking her out.
I searched and located her on the web, I sent her an email, and scheduled a call; hopefully, she will reply because I want to start off the new year financially strong.
Used to work 60 plus hours every week under constant stress. Horrible for my mental and physical health. Left that career 5 years ago, now make half as much, never more than 40 hours a week, and never stressed. My quality of life is so much better despite making half what I used to. Health is everything, money is not!
That’s exactly what my dad did. Used to be a truck driver and quit. Found a job as a basic maintenance/porter, took a small pay cut but says he likes it way better, only 40 hrs week.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
pls how can I reach this expert, I need someone to help me manage my portfolio
Annette Christine Conte is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Be great if you could work in “$ for an individual/$$ for couples. “ to your vernacular. I never know if figures are for a single person or a couple.
The problem is the budget keeps moving, inflation is still a problem... so this applies to retirement savings and makes it harder to know how much is enough.
My problem is I need to have money for the last 6 months of my life and I don’t know when those 6 months are going to happen!
"About 45% of Americans will run out of money in retirement, including those who invested and diversified."
So, the greatest issue might be running out of money than saving too much.
That rule is hard for doctors who start so late in life making money, but need to stay healthy for years to catch up.
Agree. Once you reach a point where you saved 'too much' my suggestion is to stop saving for retirement using your own discretionary income. Especially when you already paid of your home. I stopped doing that a couple of years ago. Only saving for retirement via employer benefits to get the match, and reinvesting dividends.
The surprising thing is it takes a lot of time to adjust. Sometimes you just have to kick yourself in the butt, spend the money and stop worrying about it. Life is too short.
Was working 80-99 hours a week for my entire career over 33 years. 56 now and retiring in May at 57.
And you still think it was worth it?
Boy, nothing like slamming on the brakes.
Damn that's alot of hours
I am buying more VGT, SCHD & VOO. Many of us have a boatload in the S&P500 index in ROTH, still have the bulk of my $500k retirement portfolio in VGT. In my taxable account, i try to beat my roth and i know it can be done but i am still underperforming the S&P500.
I’m taking the hybrid approach, VOO, SCHD as my foundation, with growth like MA, UNH, HD. And slow growth like O and PEP. I have a 20 year time horizon. But the best part is I still enjoy my life while I do this. Travel, and buy ONLY things I love. It’s the best combo, plus I love the small victories with receiving dividends/dividend growth/share price appreciation.
VGT is an excellent portfolio addition, but relying solely on it for retirement may not be optimal. I retired at 62, grew my portfolio to $3.4 million in little over 10 years through the help of a fiduciary and dividends now supplement my retirement income. Invest wisely, build your nest egg, and don't sell the chicken that lays the egg!
Your fiduciary seems highly competent. May I ask if you are still working with the same fiduciary, and if so, what's the best way to get their attention.
Certainly, I am still working with Stacy Lynn Staples. Having her in my corner has been a game-changer for my financial well-being. Her ability to simplify complex financial concepts and provide tailored solutions is commendable. Stacy's passion for her work shines through, making the financial planning process not only effective but also enjoyable.
Excellent share, just inputted her full name on my computer and searched online, top-notch credentials. I've seen commentaries about advisers, but not one looks this phenomenal.
The fidelity figure doesn’t take into account that your salary increases dramatically in your 30s or 40s. So when you are 40, is the salary benchmark the one at age 30 or 40?
Better too much than not enough. I don't like having money worries.
I rather save too much than not having money
Is that salary before or after tax?
is it bad that all 5 signs apply to me, Azul? 😂
seriously, you've helped change my mindset. actually throttling back my 401k contributions. zero-based budgeting and not sweating the little expenses so much.
Per Fidelity, should "savings" include the value of one's home?
Happy Holidays, Azul. I enjoy your channel, thanks for your vlogs.
Thanks Dan. Happy holidays to you as well! 🎄Azul
I like this vid. Good insight and good reminder.I noticed I have been using the someday phraseology .
We maybe saved a bit too much. We didn't short ourselves on living life in the present. And we both have, or had - I'm retired now, jobs that we liked and were low stress. We also got a late start and so knew we had to make up for lost time and that's _hard_ so we were pretty focused on building up the nest egg. All in all I'm ok with having overshot the mark a bit. Better than the opposite. I agree though many people are being sold a lot of FUD (fear, uncertainty, and doubt) by financial companies and social media in general. If you've got a broker or advisor that seems to be churning your investments and always is after you to invest more and more, if that were me I'd look around a bit. Get some other opinions.
The general theme of this channel is to retire in your 50s or early 60s at the latest. I suspect those Fidelity numbers are for those who retire at 67. What would those numbers be if you want to retire at say 50 or 55 or 60?
I am 62 1/2, currently with 13.5 X my salary in retirement.
Shovel snow? Oh hell no...I pay the guy! :^)
Yes,
The answer is yes… You are definitely making too many people panic!
I've saved so much I pay someone to work out for me.
😂
Maybe I need to ease up on saving so much… But isn’t the whole point to have that cushion? I’d love to know if anyone else has had to make this decision! 🤷♂💸
“When we retire”… that was our some day phrase. Well, unfortunately that will never happen now🥹. Don’t wait. Money is important, certainly, but accumulating it at the expense of putting off what truly matters is not worth it.
Except for the little segment about how much you have saved compared to your salary, these could all be signs you are broke, or that you need to make more money, or that you are realistic about you finances.
Without any context most of these "signs" are meaningless. If you make minimum wage and live in Manhattan, 'someday' is the right answer for almost everything.
Only thing I “scrimped” on was auto expenses. We have had good practical cars that we kept for 12 to 20 years. I eat well from healthy restaurants and organic market foods. I love quality clothes and shoes and only buy a few because they last so long.
Now I want a frivolous luxury car that I can easily afford but not in the habit. I am definitely an over saver who never had money problems. My first car was a 1964 Plymouth that I got for free in 1974 and used for 11 years.
Probably it is time to get that BMW plug in? 🤔😂
No kidding about Walmart Plus delivery
Fidelity is going to make a lot of people even more depressed lol
Early Fall????? When did you do this Video?
No one is saving too much for retirement, 99.9% of us don't have enough saved.
Just because 99% don't save enough doesn't mean some are not overdoing it.
@@martinlord8837 Those very few that "over saved" can bless their children with a nice head start inheritance.
Define saved
This video doesn’t apply to 95% of American citizens. Most overspend…so don’t worry for the rest of us
Azul only looks at one side of issues. He has done a couple videos on not moving to Florida but nothing on Minnesota, NY, or California. Be very wary taking advice from this guy.
Nor does he address health care costs for a spouse or partner as a single earner
Great video!! Azul nailed it
Stop Scamming......!!!!
I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated.
As a newbie investor, it’s essential for you to have a mentor to keep you accountable.
Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market..
I don't really blame people who panic. Lack of
information can be a big hurdle. I've been
making more than $200k passively by just
investing through an advisor, and I don't have
to do much work. Inflation or no inflation, my
finances remain secure. So I really don't blame
people who panic.
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?