That's a wise perspective. It's important to focus on your own standards of preparation and readiness rather than comparing yourself to others. Everyone's journey and circumstances are different, so what matters most is ensuring that you are adequately prepared according to your own goals and standards.
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life .
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
As a beginner, it's essential for you to have a mentor that is verified by finra and SEC to keep you accountable. I'm guided by a widely known financial consultant Stacey Macken
That's fantastic to hear! Retiring at 57 with a pension and being debt-free sets a solid foundation for financial security and peace of mind. It must feel liberating to have reached that point. If you have any questions or need advice on managing your retirement finances, feel free to ask!
55…still working…no debt and single…will get a decent sized pension and NOT sitting on $2M, 😂. But that is the general goal. $2M in dividend stocks at an easy 3% yield provides $60K in income annually, and DGI stocks will beat inflation. It’s the whole trading years for money thing for me right now. I know Azul’s stance, but inflation worries me. And I’d really like to move to a new place, but property/homes are ridiculously priced and where I’d want to go will be more than my current house could fetch. So, I keep working…
I am retired for one more year and really enjoy the time now. I found I have more money than I am not retired. The key point is pay off everything before retirement, and then you will be rich after you are retired❤
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 determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.
You are right. I’m in my mid 50’s now, my wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with profits over the years, but at least I’m earning more. I’m making money even before retiring and my retirement funds has grown way more than it would have been with the 401k.
It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $25k passively by just investing through an advisor, and I don’t have to do much work. It doesn’t matter if the economy is crashing, great CFA will always make good returns.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about 4 years now, and her performance has been consistently impressive.
Thanks for the information!! She appears to be well-knowledgeable and accredited. I ran a Google search on her name and came across his website, thanks for sharing.
Just retired a month ago. A lot of years feeling like we weren't keeping up with the Joneses resulted in us being well ahead of the Joneses come retirement time. Well worth it.
If you don't have an emergency fund, start with that. For many years I didn't have one and after creating one my financial situation improved. The reason things improved wasn't because of the emergency fund itself, it was because of the change in habits needed in order to create the emergency fund. In order to know how much money covers 3-6 months of expenses I needed a budget. In order to save that amount I needed to live below my means and consistently do so for years.
Agree....the actual EFFORT and discipline to SAVE for the emergency fund actually CREATES the good habits that does eventually get the emergency fund created...but more importantly, it creates the mindset to SAVE and INVEST and quit WASTING money. We found THAT...was the first domino that had to fall before we FINALLY got our shit together oh so many years ago (about 30 years ago or so...).
You have to remember that a house isn't liquid unless you sell it. I would bet that the net worth of A household of people 65 to 74 one half of that net worth or maybe more of it is their paid off home. That really doesn't make them wealthy unless they sell the home. People may not be able to sell that home for what they think it is worth.
I’ve had discussions with younger guys about them wanting to take out a loan on a boat they can’t afford. They say they will never be able to afford it, so they want to enjoy it now. So many fools out there will never get to retirement.
I have 3 years until I want to retire at 67. We don't have a big retirement saved up but enough that I want personal financial advice. Can you possibly do a video on how to find and vet a legitimate financial planner who won't take advantage of you. Thanks for the great videos!
53 with $2.1 million in Roth/401K. Another $50K for emergencies. $130K mortgage @ 2.125%. I’ll probably retire at 55 unless I can cut my hours to 12/wk. Having the freedom to vacation, eat out or essentially buy anything I desire is a great feeling. The key is start EARLY!!!
Doing financially fine and could quit my job if I want to, but I am not comparing with others. Why should you, it is a personal journey/decision. More interested in stories of people that managed to start living of their investments with the lowest possible wealth and managed to get it done with a low or moderate income. These folks are a lot more interesting than the 'I am 50, earn 6 figures a year, have a couple of millions, still need to work two years because my wife likes to live on the beach and I need a nice car'.
I was literally told by someone on TH-cam that my single income household of more than $200K a year including a rental with a 7 figure net worth is not good since I am in an expensive area in CA with higher expenses than her and her husband (low cost of living area). That my husband and I are not high earners because of that.. smh.. We don't have credit card debt, no student loans, have retirement, our rental, investments, etc. We do have low interest mortgages and low interest car loan (don't want to pay it off all at once). It was still not good enough for her.. She lectured me that it is about math and claimed that we are poorer than her.. Without even having any numbers to compare!!! I don't understand haha..
She’s projecting her insecurities is all… Using money as I’m better than you or to gloat is not at all why I’m saving. Money is just a tool that gives you flexibility in life. Pat her on the back and say good for you. 🙂
Spending takes a whole different mindset than accumulating. Somewhere you realize you have "enough" and can use some of your funds to do the things you always wanted to do.
Great Video Azul, For many, if not most Americans, they are house rich and cash poor. I exclude home and other equity derived from “stuff”, and refer to this number as “Liquid” net worth. I look at my home as a place to live, and my car as transportation - not investments, as I will always need these basics. This number includes cash and cash equivalents, and my various investment accounts (stocks, bonds, etc.) I do not invest in real estate or “alternative” assets. My investments are liquid, and all earn a return. Is there a report or study that identifies this number for the age groups you discussed? Thanks
I find that stat of only 29% of american workers have an IRA not that bad a stat unless u also say they dont have a 401k.. U dont need both.. I’m hoping the 401k percent of workers is MUCH higher...
If your monthly expenses are 10-12k, no Bueno. 3-6 months... We have 3 months, cash (our burn is 10k a month). If needed, we other investments (not retirement), several years worth.
My dad had company’s pension plan and social security. In total, he received around ¥350,000 a month …. Something that he enjoyed until his passing at the age of 86 years old. He obviously had something that I will not have, company’s pension plan , like most people these days.. I watch this channel to study for my future 📚 Peace and Love from Japan 🇯🇵
I'm retired and I paid for a professional financial analysis including a Monte Carlo worse case study that showed my I'm fine until at least age 91. I also did an analysis through Fidelity with a broker that showed I'm fine under worst case, even with long term care. I have a huge emergency fund. BUT STILL I WORRY! Why? Because I was raised by Great Depression parents who taught me to fear loss above all else. Why can't I just relax?
I was laid off and working as a contractor and I am not raking social security until 67 even if my savings goes down $30000. I have $114000 in a money market $30000 in savings and $117000 in a fixed undexed annuity that will pay $12040 to me and my wife when I annuitize it at 70. The condo is worth $150000 and I gave no mortgage and no debit. I am very luck my wife who us 55 provides me eith health insurance throw her county job and works full time and she will get a pension. If I was single I would be in high stress trouble I have been very good not spending more than I make and never had an expensive car. The most expensive car I had us a ford focus. Thus us the best I was capable bod achieving. I am definitely not a genius
Yeah right! Yes some of my money when needed will get taxed but my overall tax rate is so much lower than when I used to work. And believe me, if taxes is your worries, then that mean you have quite a bit save so life should be pretty good. I have no issues with that....
CALPERS pension annually w COLA-$400 brand new condo in Thailand-pretty young gf-healthy food-gym/pool/sauna daily-walk to the 🏖️ no stress-spend my discretionary income on what I want
Wow 🤩 I’m way ahead of the game, if you live in California and own a home outright your net worth is way more than any of those medians. Just your house alone 😮
Yeah, maybe you “can’t eat” your paid-off California home, but you could sell it for say $800K and then move to Tulsa or El Paso or somewhere and buy an equivalent house for half of that Nobody says you have to stay in overpriced California
Have u noticed the utuber NEVER responds to commnents…. stop commenting on his videos.. this is my last comment.. any utuber that does not interact with the audience I have no interst in…
You are going to be gone from most channels. He has hundreds of videos with tons of comments. Not sure any channel is going to be able to respond to all comments unless they hired a staff.
@@rodrigok1220 this video has 84 comments… pretty easy to read thru and respond to some of them…. he simply puts the vidoes out and thats that.. done… i watch many channels where the person responds to comments… in fact all of them thats why I made this statement…. this is the one that does not… I want to hear his responses to the comments…. there are good comments… he wont answer to...
@@alexlee8617 yeah thats what I’m going to do I like to listen to content creators that interact with there audience.. this person does not… he puts out a video and done.. I want to see some interaction with responses to comments.. so yes… later guy… u should to.. there are some great interactive content creators out there...
I do not compare myself with peers. If others are less prepared then myself it does not mean that I’m prepared.
That's a wise perspective. It's important to focus on your own standards of preparation and readiness rather than comparing yourself to others. Everyone's journey and circumstances are different, so what matters most is ensuring that you are adequately prepared according to your own goals and standards.
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life .
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
As a beginner, it's essential for you to have a mentor that is verified by finra and SEC to keep you accountable. I'm guided by a widely known financial consultant Stacey Macken
Stacey demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
I'm from Georgia how do I go about this? I think I'm interested how can I get in touch with her
2 million and single. I retired at 57 with a pension. Makes all the difference. Not one single debt is the key too.
That's fantastic to hear! Retiring at 57 with a pension and being debt-free sets a solid foundation for financial security and peace of mind. It must feel liberating to have reached that point. If you have any questions or need advice on managing your retirement finances, feel free to ask!
55…still working…no debt and single…will get a decent sized pension and NOT sitting on $2M, 😂. But that is the general goal. $2M in dividend stocks at an easy 3% yield provides $60K in income annually, and DGI stocks will beat inflation. It’s the whole trading years for money thing for me right now. I know Azul’s stance, but inflation worries me. And I’d really like to move to a new place, but property/homes are ridiculously priced and where I’d want to go will be more than my current house could fetch. So, I keep working…
where do u live? how u spend yr time?
Comparison is the thief of joy.
Unless you're doing better😂
I am retired for one more year and really enjoy the time now. I found I have more money than I am not retired. The key point is pay off everything before retirement, and then you will be rich after you are retired❤
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 determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.
You are right. I’m in my mid 50’s now, my wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with profits over the years, but at least I’m earning more. I’m making money even before retiring and my retirement funds has grown way more than it would have been with the 401k.
It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $25k passively by just investing through an advisor, and I don’t have to do much work. It doesn’t matter if the economy is crashing, great CFA will always make good returns.
Do you mind sharing info on the adviser who assisted you? I'm 40 now and would love to grow my stocks investment portfolio and plan my retirement..
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about 4 years now, and her performance has been consistently impressive.
Thanks for the information!! She appears to be well-knowledgeable and accredited. I ran a Google search on her name and came across his website, thanks for sharing.
Just retired a month ago. A lot of years feeling like we weren't keeping up with the Joneses resulted in us being well ahead of the Joneses come retirement time. Well worth it.
I have always said to hell with the Joneses. The only person I have to impress is myself.
Just wave to the Jones from your driveway as they go to work each day!😊
For sure. That is key
This video made me feel a lot better. Thank you.
If you don't have an emergency fund, start with that. For many years I didn't have one and after creating one my financial situation improved.
The reason things improved wasn't because of the emergency fund itself, it was because of the change in habits needed in order to create the emergency fund. In order to know how much money covers 3-6 months of expenses I needed a budget. In order to save that amount I needed to live below my means and consistently do so for years.
Agree....the actual EFFORT and discipline to SAVE for the emergency fund actually CREATES the good habits that does eventually get the emergency fund created...but more importantly, it creates the mindset to SAVE and INVEST and quit WASTING money. We found THAT...was the first domino that had to fall before we FINALLY got our shit together oh so many years ago (about 30 years ago or so...).
You have to remember that a house isn't liquid unless you sell it. I would bet that the net worth of A household of people 65 to 74 one half of that net worth or maybe more of it is their paid off home. That really doesn't make them wealthy unless they sell the home. People may not be able to sell that home for what they think it is worth.
True. I can't count on the house as part of my bank account. I need a place to live, and am not going to take out a "loan" against its value.
I’ve had discussions with younger guys about them wanting to take out a loan on a boat they can’t afford. They say they will never be able to afford it, so they want to enjoy it now. So many fools out there will never get to retirement.
$40k home repair unexpected 😢, insurance not covered and needs to be now before winter hits. Emergency fund came in clutch
That's a very nice house in Mexico, made of concrete and steel; very few things can go wrong.
I have 3 years until I want to retire at 67. We don't have a big retirement saved up but enough that I want personal financial advice. Can you possibly do a video on how to find and vet a legitimate financial planner who won't take advantage of you.
Thanks for the great videos!
53 with $2.1 million in Roth/401K. Another $50K for emergencies. $130K mortgage @ 2.125%. I’ll probably retire at 55 unless I can cut my hours to 12/wk. Having the freedom to vacation, eat out or essentially buy anything I desire is a great feeling. The key is start EARLY!!!
Doing financially fine and could quit my job if I want to, but I am not comparing with others. Why should you, it is a personal journey/decision. More interested in stories of people that managed to start living of their investments with the lowest possible wealth and managed to get it done with a low or moderate income. These folks are a lot more interesting than the 'I am 50, earn 6 figures a year, have a couple of millions, still need to work two years because my wife likes to live on the beach and I need a nice car'.
335, or 355, 75 and up? My research says 355.
I was literally told by someone on TH-cam that my single income household of more than $200K a year including a rental with a 7 figure net worth is not good since I am in an expensive area in CA with higher expenses than her and her husband (low cost of living area). That my husband and I are not high earners because of that.. smh.. We don't have credit card debt, no student loans, have retirement, our rental, investments, etc. We do have low interest mortgages and low interest car loan (don't want to pay it off all at once). It was still not good enough for her.. She lectured me that it is about math and claimed that we are poorer than her.. Without even having any numbers to compare!!! I don't understand haha..
@WangOChon Thank you. I always think that we are doing worse then the people around us that we know..
She’s projecting her insecurities is all… Using money as I’m better than you or to gloat is not at all why I’m saving. Money is just a tool that gives you flexibility in life. Pat her on the back and say good for you. 🙂
@@rodrigok1220 I guess so..
54 with net worth of 2 million. Still working as not sure if I have sufficient money for retirement. Any advise？
Spending takes a whole different mindset than accumulating. Somewhere you realize you have "enough" and can use some of your funds to do the things you always wanted to do.
Great Video Azul,
For many, if not most Americans, they are house rich and cash poor.
I exclude home and other equity derived from “stuff”, and refer to this number as “Liquid” net worth. I look at my home as a place to live, and my car as transportation - not investments, as I will always need these basics.
This number includes cash and cash equivalents, and my various investment accounts (stocks, bonds, etc.) I do not invest in real estate or “alternative” assets. My investments are liquid, and all earn a return.
Is there a report or study that identifies this number for the age groups you discussed?
Thanks
Looking for long term investments that can fetch millions. If you had $250k, which one would you go with for retirement planning?
consider 3 fund portfolio using VOO, SCHG, and SPYD invest majority of investments using them
Buy a new Escalade
Charmin Toilet Paper- for when the next wave of plague tries to wipe us out. People (in USA anyway) do love to hoard toilet paper!
I find that stat of only 29% of american workers have an IRA not that bad a stat unless u also say they dont have a 401k.. U dont need both.. I’m hoping the 401k percent of workers is MUCH higher...
Agree… did they count 401k, 403b, 457 plans, etc.. I wonder if they also count those with a pension
Rainy day fund? Get it up to 10 to 12 grand. Seriously....do it.
If your monthly expenses are 10-12k, no Bueno. 3-6 months... We have 3 months, cash (our burn is 10k a month). If needed, we other investments (not retirement), several years worth.
Good itopic
My dad had company’s pension plan and social security. In total, he received around ¥350,000 a month ….
Something that he enjoyed until his passing at the age of 86 years old.
He obviously had something that I will not have, company’s pension plan , like most people these days..
I watch this channel to study for my future 📚
Peace and Love from Japan 🇯🇵
I'm retired and I paid for a professional financial analysis including a Monte Carlo worse case study that showed my I'm fine until at least age 91. I also did an analysis through Fidelity with a broker that showed I'm fine under worst case, even with long term care. I have a huge emergency fund. BUT STILL I WORRY! Why? Because I was raised by Great Depression parents who taught me to fear loss above all else. Why can't I just relax?
So many SCAM POSTS in this thread. Be careful- and REPORT THEM!
I was laid off and working as a contractor and I am not raking social security until 67 even if my savings goes down $30000.
I have $114000 in a money market $30000 in savings and $117000 in a fixed undexed annuity that will pay $12040 to me and my wife when I annuitize it at 70. The condo is worth $150000 and I gave no mortgage and no debit.
I am very luck my wife who us 55 provides me eith health insurance throw her county job and works full time and she will get a pension.
If I was single I would be in high stress trouble
I have been very good not spending more than I make and never had an expensive car. The most expensive car I had us a ford focus.
Thus us the best I was capable bod achieving. I am definitely not a genius
What about our government recklessness and those irresponsible ones who haven’t saved? Will they affect those of us who have sacrificed for decades???
Sadly, those who sacrificed for decades in order to save, will be called upon (i.e. taxed) in order to pay for those who did not.
@WangOChon Who is going to pay for the estimated 10.2 million illegal immigrants that have invaded America since 2020?
Yeah right! Yes some of my money when needed will get taxed but my overall tax rate is so much lower than when I used to work. And believe me, if taxes is your worries, then that mean you have quite a bit save so life should be pretty good. I have no issues with that....
Flawed thinking in the headline. To compare me against 80% of the population does not mean I'm doing financially well...
I applaud ppl for investing n saving given the economy👏🏿👏🏿👏🏿👏🏿💰💰💰💰
😊
CALPERS pension annually w COLA-$400 brand new condo in Thailand-pretty young gf-healthy food-gym/pool/sauna daily-walk to the 🏖️ no stress-spend my discretionary income on what I want
Yikes! You set a very low bar!
Wow 🤩 I’m way ahead of the game, if you live in California and own a home outright your net worth is way more than any of those medians. Just your house alone 😮
But you can’t eat your home.
"Own a home outright" is itself a rare thing.
Yeah...but can you afford the taxes to keep it?
Yeah, maybe you “can’t eat” your paid-off California home, but you could sell it for say $800K and then move to Tulsa or El Paso or somewhere and buy an equivalent house for half of that
Nobody says you have to stay in overpriced California
Have u noticed the utuber NEVER responds to commnents…. stop commenting on his videos.. this is my last comment.. any utuber that does not interact with the audience I have no interst in…
Bye bye....
You are going to be gone from most channels. He has hundreds of videos with tons of comments. Not sure any channel is going to be able to respond to all comments unless they hired a staff.
@@rodrigok1220 this video has 84 comments… pretty easy to read thru and respond to some of them…. he simply puts the vidoes out and thats that.. done… i watch many channels where the person responds to comments… in fact all of them thats why I made this statement…. this is the one that does not… I want to hear his responses to the comments…. there are good comments… he wont answer to...
@@alexlee8617 yeah thats what I’m going to do I like to listen to content creators that interact with there audience.. this person does not… he puts out a video and done.. I want to see some interaction with responses to comments.. so yes… later guy… u should to.. there are some great interactive content creators out there...
You are doing very well financially after you fire your financial adviser. Fire that crook! They steal YOUR money. They all are crooks.
Azul is doing very well financially selling this same old crap day in and day out.
Why so angry?
Don’t like it, don’t watch. Simple.