🤷🏻♂️🤷🏻♂️ Not to be arrogant: These guys are all the same. Fiat currency (money these days) is always the main stay when it come to retirement. I’ve thrown this belief out the window. Why? My 63 year old neighbor died behind the wheel of his car on his driveway. Here today gone tomorrow. TIME is the true MONEY!!!!! Retire as soon as you can, even if you think you can’t afford it, just cut back on your living standard. Downsize your life. Live small and enjoy the years you have left. Today all these investment firms claim you need a Million Dollars to secure your retirement. Of course, this way they can earn their income off of your’s. When was the last time you watched a Sunrise? To me it’s worth a lot more than looking at the digits in my portfolio. Hope this advice helps a few of you who are stuck on the hamster wheel. 🏠☀️👨🌾🕯🐝🐇🐓🐄
@theretirementguyYT
Күн бұрын
Interesting! Thx for watching.
@FIRED13
Күн бұрын
While in college, I lost a friend's younger sister to cancer and a classmate's younger brother to a firearm accident at home. I also lost two high school classmates (that I know of), one right after graduation (accident on a personal grad trip) and another to suicide 5 or so years after graduation. I've lost coworkers, a parent and a younger sibling before they turned 45 to natural causes, and a coworker
@scottmartin6139
Күн бұрын
As the saying goes… we are all born to die and growing old is a privilege that is denied to many.
@Alan-lv9rw
2 күн бұрын
I retired this year at 61. My pension and SS combine to give me an annual income of $78,350. I also have a 401K and I zero debt. I think I’ll be ok. If not, I’ll get a part time job. The company where I worked adopted Six Sigma for its white collar office workers and everyone left, including me.
@2Rugrats9597
Күн бұрын
If you have zero debt and an income of $78K, there should be no reason to work unless you really want to. You will be just fine also cause you still have a 401K and SS too
@theretirementguyYT
Күн бұрын
Good stuff. Thanks for watching!
@searchersearcher8286
Күн бұрын
You will be fine, unless inflation kick in again. Inflation could reduce that income by 50% in a short ten years
@2Rugrats9597
Күн бұрын
@@searchersearcher8286 😂😂😂😂😂
@Markrtsoon
Күн бұрын
@@searchersearcher8286very polite way to state a concern.
@tonylevine2716
Күн бұрын
New subscriber. Great info! Retired vet so blessed to have pension, VA disability, and healthcare at the VA. I also take care of my body by eating right and working out. Retired as a govt contractor last Oct just shy of 56. Best decision ever! The Rule of 55 applies but I have bridge accounts to take me to 59.5 but will try not to tap into my retirement accounts even after that if I can avoid it. Plan to take Social Security at 62. God is good! 🙏🏾
@theretirementguyYT
Күн бұрын
Thanks for watching and for your service !!
@reesesha2289
Күн бұрын
Thank you for this excellent content. Planning to retire three years sooner than anticipated is critical to know in one's 40s. I'm 58. My company sold, and I lost my Executive Director job. One year later, I still can't find a job. Ageism is real and thriving. You're the first financial advisor to address this that I've heard.
@theretirementguyYT
Күн бұрын
I’m sorry to hear about the job 😢
@reesesha2289
Сағат бұрын
@@theretirementguyYT Thank you!
@joekuhnlovesretirement
Күн бұрын
Wow. I learned new things not just another spin on same concepts. Well done
@theretirementguyYT
Күн бұрын
My sons should be so kind to me! Thank you!
@cutehumor
Күн бұрын
I’ll be watching this video later Joe 😂
@scottjackson163
Күн бұрын
A person who is shackled by marriage to a spouse who has no vision or a myopic vision of perpetual financial ignorance and unexamined sameness of robotic “surviving” cannot fruitfully develop his own vision of retirement.
@theretirementguyYT
Күн бұрын
Good point. Thanks for watching!
@mbr500
Күн бұрын
Communication
@woodsparker7902
Күн бұрын
Running your own race is amazing advice. Thanks for putting together this information filled video!
@theretirementguyYT
Күн бұрын
I love running analogies, even though unfortunately my knee prevents me from running. Thanks for watching!
@Francis-r.b
15 сағат бұрын
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me.
@theretirementguyYT
15 сағат бұрын
Bien por usted! Gracias por mirar!
@johnoli2976
14 сағат бұрын
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.
@duanec.duanec.sutherland5292
14 сағат бұрын
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.
@Lorimoore-g2s
14 сағат бұрын
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.
@duanec.duanec.sutherland5292
14 сағат бұрын
i definitely share your sentiment about these firms. Finding financial advisors like Kathie Daisy Bosco 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.
@roburb73
Күн бұрын
Thankfully, I have Tricare for my family and I'm also fully covered under VA healthcare and disability compensation.
@theretirementguyYT
Күн бұрын
Thanks for your service and thanks for watching!
@mascaretllcmanager7481
20 сағат бұрын
Is Tricare accepted in the EU?
@NKUBill
Күн бұрын
Good video but I have to disagree with you on the 401k. You can definitely build retirement wealth using the 401k and a Roth account. You have to be very diligent to accomplish this...which most people are not.
@theretirementguyYT
18 сағат бұрын
You may be right. Thanks for watching!
@brianpost8827
Күн бұрын
I don't have a pension. I do however have $500000 in a 403B. Does it make sense to annuitize half of this to guarantee a monthly income and invest the rest in S&P funds and bonds ?
@theretirementguyYT
Күн бұрын
I can't answer definitively without the particulars but I believe very strongly in guaranteed income to cover needs and most wants. If you want some help deciphering. the good from the bad, shoot me an email. And ... thanks for watching!
@FIRED13
Күн бұрын
Depends on so many factors which you have not even listed. Get some help if this is the best you can do, I am dead serious.
@KayFabe87
18 сағат бұрын
Despite common myth, most people did NOT have pensions even during the heyday of pensions. The notion that "everyone" had a pension is completely apocryphal. The 401k, particularly with a company match, is an excellent retirement savings vehicle, but it should be supplemented with a personal IRA and other savings/investments as well.
@theretirementguyYT
18 сағат бұрын
Not everyone, but certainly more than now. Thanks for the feedback and for watching!
@jayanddeesretirementjourne617
15 сағат бұрын
Nobody knows how much time you have! Plan to retire in 3 years. Will be 59.
@theretirementguyYT
15 сағат бұрын
Good point. Thanks for watching!
@janetkenny4861
Күн бұрын
I locked in the long term care insurance policy when I was 58 and still in good health. If I had waited even two years, my policy would have been much more expensive as I have developed health issues. I am single and I do not want to be a burden to my children if I should need care. The peace of mind the care will be taken care of is priceless.
@theretirementguyYT
Күн бұрын
Great move! People don’t realize how quickly they can become uninsurable… Thanks for watching.
@ClaudeRacine
12 сағат бұрын
Start visualising your retirement. I love that and will give this some serious thought.
@theretirementguyYT
12 сағат бұрын
I call it "see the finish line" when I use my running examples. Thanks for watching!
@jeffdavis8811
12 сағат бұрын
I call BS on the 401k opinion. Without that option to save for my own retirement, I would have to rely on social security which is a joke. As a self employed individual, I have been able deduct my contributions during my high income years to save on taxes. I currently have over $3,000,000 in the account after 15 years. I expect that when I retire in 3 years at age 65, it will be close to $4,000,000. My total investment is about $400,000. Not a bad return! My income and tax rate will be much lower when I retire, so the taxes I pay on the 401k withdrawals will be less than if I were still working. That is how it is supposed to work and why it is a great option. Any time I listened to a financial advisor, I lost money. I finally did my homework and invested on my own and it paid off very well. It seems these days the only pensions that are available are through government jobs. Those pension plans are unsustainable. Thank God My 401k will allow for a very comfortable retirement.
@theretirementguyYT
12 сағат бұрын
Thanks for watching
@johngrubb5486
15 сағат бұрын
I was fortunate enough to work multiple careers that had pensions which translates to about $150,000 in constant dependable deposits. These pensions also are tyed to COLA. I am able to use my 401k to just pay the taxes on my deposits. I can be in low risk investments and still increase the 401k value. Long term, pulling more out of my 401k as i age as tax deductions and brackets increase.
@theretirementguyYT
15 сағат бұрын
Jeez, this is one of the better ones! Good for you and thx for watching.
@Ethan-bu2zy
Күн бұрын
Im 54 and still working until our oldest graduates Highschool. I have a military pension that more than covers my expenses along with Tricare insurance, which is good but relatively inexpensive. Planning to use my Roth and 401k as basically large emergency funds as needed and to withdraw only in the “up” years and even then less than whatever the funds did in returns for that year (if the fund earns 8%, only take maybe 6%). Planning to delay SS until FRA as well because I really shouldn’t need it.
@theretirementguyYT
Күн бұрын
Thank you for your service and thx for watching!
@punisher6659
Күн бұрын
Great video. Late 50's and the price of long term care scares me. Retiring from my job with a full pension. Will start a new job in less than a year. 28 years in Corrections is long enough. Did not take investing serious until the last 2 years but had money saved and the house will be paid for in 2 years. Question is what are some reperable long term care insurances? My dad was a disabled vet. I don't have that option. I plan to work another 11 years and start collecting Social Security at 67 but work until 69. 2 years of Full Social Security, Pension and Full time employment.
@theretirementguyYT
Күн бұрын
I’m not sure I understand your question. What are repairable long-term care policies? (by the way thank you for watching.)
@enigmathegrayman2953
Күн бұрын
I stayed in a hostel a few blocks away from Wrigley Field, it was cheap, not too far away from a White Castle Hamburger joint and I loved it, great experience
@theretirementguyYT
Күн бұрын
I haven't been to White Castle in 35 years (at 4am LOL) Now that's when I get up. Thanks for watching!
@DrMaryVision
14 сағат бұрын
Great content. I have watched dozens of these types of videos from other content creators and have learned a ton, but this was a fresh take with a few new concepts, and I appreciated the format which was succinct and clear.
@theretirementguyYT
14 сағат бұрын
WOW! That actually means a lot to me. Thank you Dr. Vision 😜
@tracyalbino-daggett4032
4 сағат бұрын
I am a 54 year old nurse. My husband and I want to retire at 60. I have a mild physical disability ( cerebral palsy) obviously never impeded my career. I investigated LTC insurance. All 7 carriers have DENIED ME because of my disability. I have no option for long-term care insurance and worry about putting us in the poor house if I need care in the future. 😢
@vickiewilkins1579
Күн бұрын
Do they sell those policies anymore? I don’t find that in the market.
@theretirementguyYT
Күн бұрын
They are sold thru advisors (like me - LOL). But seriously, please research to see if it makes sense for you.
@mascaretllcmanager7481
19 сағат бұрын
My sister and BIL had long term care policy till the company folded. they are older and sicker than me; scary.
@joseromero9933
Күн бұрын
Awesome video my man new sub
@theretirementguyYT
Күн бұрын
Thanks for watching!
@josephj7991
23 сағат бұрын
I sm thinking of getting an Annuity for stable income floor
@theretirementguyYT
18 сағат бұрын
Economists don't agree on much but universally agree that creating a stable income floor to cover your needs in retirement is a good idea. If you need help with that, let me know. I have some very strong opinions on what you should never do in this area. Thanks for watching!
@montecraig7032
10 сағат бұрын
I have lived alone for 40 years. The day I can’t take care of myself I will checkout. I refuse to ask anyone for help.
@theretirementguyYT
7 сағат бұрын
I wish you well. Thanks for watching!
@alexgere529
Күн бұрын
I was young again I would not even go to work again. Working for the rich
@theretirementguyYT
Күн бұрын
I worked for my children lol - thanks for watching!
@Swamprowdy
Күн бұрын
What? Be homeless? Start a business?
@alexgere529
21 сағат бұрын
@@Swamprowdy Own business, own boss, even with a small income
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