Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
@maiadazz
5 күн бұрын
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
@Aaronduckstein49
5 күн бұрын
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
@richardhudson1243
5 күн бұрын
I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
@Aaronduckstein49
5 күн бұрын
Annette Marie Holt is the licensed advisor I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment
@EmilyMoore-n7n
5 күн бұрын
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
@Mathew-zs3nz
4 күн бұрын
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
@DhanaPayar
4 күн бұрын
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, it’s advisable you work with a financial advisor to help set up a well-structured portfolio.
@oliviathompson1846
4 күн бұрын
I agree. Based on personal experience working with a financįal advisor, I currently have $2 million in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest in, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
@Jasonshelton-
4 күн бұрын
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
@oliviathompson1846
4 күн бұрын
I work with Jessica Lee Horst as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
@Agatha.wayne0
4 күн бұрын
I searched her full name online and found her webpage. I emailed to make an appointment to talk with her; hopefully, she gets back to me.
@alexsteven.m6414
9 күн бұрын
Hello, I am due for retirement in two years, I'm a senior citizen but I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $50K per year but nothing to show for it yet.
@KatyaSantos-g4c
9 күн бұрын
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
@belobelonce35
9 күн бұрын
I think you're better off with majority investment in S&P500 and uprising equities cos they always outperform. Also speaking with an advisor can help with pointers. I've been in contact with one I reached through commentaries here, she has been really helpful.
@PremSteve-yg4de
9 күн бұрын
Hello, thanks for replying. I'm thinking of trying out an advisor, how can one reach a decent advisor like the one you use?
@belobelonce35
9 күн бұрын
Finding financial advisors like "Rebecca Nassar Dunne 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.
@MarcyLoccy
9 күн бұрын
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
@MikeDavis-zg2ud
10 күн бұрын
I retired with $600k saved, and looking back, I realize I could’ve done things differently. Not saving enough, plus the impact of inflation and sequence of returns risk, makes me worry about outliving my savings, and it’s not something I can easily ignore. Not saying it’s the only way to go, but it’s something I think about
@AlexMorgan-ti6nv
10 күн бұрын
I'm approaching retirement and having a financial advisor has been helpful. I started investing later than most, so relying on compound interest from index funds or bonds alone wasn’t enough for me. Despite that, I’ve managed to do well and am on track to retire with around $5 million
@MikeDavis-zg2ud
10 күн бұрын
I'm worried about my portfolio and could use some guidance. How can I get in touch with your manager?
@AlexMorgan-ti6nv
10 күн бұрын
I usually avoid making specific recommendations because everyone's situation is unique. However, my experience with Emily Ava Milligan has been quite positive. You might find it worthwhile to see if her approach fits your needs
@MikeDavis-zg2ud
10 күн бұрын
I looked for the name online and found her page. I emailed and made inquiries. Thanks for the help
@elviegoodman
22 күн бұрын
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
@Markphilip-r4i
22 күн бұрын
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
@Deboramichael-c1z
22 күн бұрын
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@Willi-w1q
22 күн бұрын
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
@Deboramichael-c1z
22 күн бұрын
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@Willi-w1q
22 күн бұрын
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
@tommychestnut5335
4 күн бұрын
I just turned 61 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 at least, so how best do I maximize my savings of over $500k
@Patriciacraig599
4 күн бұрын
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 advisor to help in diversifying your portfolio to spread out the risk.
@traviswes7082
4 күн бұрын
Many people often underestimate the effectiveness of a financial advisor in planning for retirement. Over the past 10 years, my financial advisor has consistently restructured and diversified my portfolio and expenses, resulting in over $3 million in gains. While it might not seem like a huge amount, retirement now feels within reach.
@jessicawesbond2312
4 күн бұрын
Impressive! I admit I'm scared about retirement as I'm approach that chapter. I need to ensure I have enough savings to survive on. My retirement account isn't doing great. Now, I need that professional rescue. Please direct me on how to reach a sound adviser
@traviswes7082
4 күн бұрын
There are a handful of professionals in the field. I've experimented with a few over the past years, but I've stuck with ‘'KATHLEEN CHERYL CONSTANTZ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
@PhilipMurray251
4 күн бұрын
Kathleen sure knows her onions in this industry, from her intimidating profile which I went through, on her web home page. I started off last year tailoring a colleague's tradin strategies but it didn't pan out well. Hopeful that Kathleen will attend to my message.
@Scottweeier846
4 күн бұрын
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Kimberly Ann Doran.
@Brucelanham845
4 күн бұрын
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
@carolynvo7802
4 күн бұрын
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
@Rodriguezpaul-9
4 күн бұрын
You trade with Kimberly Doran too? Wow that woman has been a blessing to me and my family.
@DaveCulbertson
4 күн бұрын
I'm new at this, please how can I reach her?
@AmandaStewart0908
4 күн бұрын
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.
@shea455
Ай бұрын
If you've paid off all bills - no car note, no mortgage, and no consumer debt - you can live very well on a relatively low number. When I've talked with investment advisors looking to help my portfolio, it's always an immediate turn-off when they use my income as a gauge, rather than my out-go as a gauge. For people with high income, no debt, and a reasonably frugal lifestyle, the numbers are vastly different. They should be applying the 4% rule to my out-go as a starting point. If you've had a "hockey stick" pattern for your income across your career, using income-multipliers to figure out if you're on track versus off-track will always be wrong. It's my litmus test to figure out if my advisor is thinking, versus following rules that apply poorly in some situations. Investment advisors that think of retirement as an age rather than a financial goal are equally shunned by me.
@bukboefidun9096
28 күн бұрын
We are the $100,000/ yr spenders. But even still we save 1/3rd of our SS and won't be taking RMDs until next year
@GillerHeston
25 күн бұрын
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 compound interest and potentially grow your retirement savings over time.
@rogerwheelers4322
25 күн бұрын
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
@joshbarney114
25 күн бұрын
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over $2.8million.
@FabioOdelega876
25 күн бұрын
@@joshbarney114 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
@joshbarney114
25 күн бұрын
I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@FabioOdelega876
25 күн бұрын
Excellent share, just inputted Marisa Breton Dollard on the internet, spotted her consulting page ranked top and was able to schedule a call session. I’ve seen commentaries about advisors but not one looks this phenomenal.
@amyyates8273
Ай бұрын
Happy to see you back!
@PranaWealth
Ай бұрын
Thank you, Amy! I'm excited about what I have planned for this fall!
@janemcgrath9773
23 күн бұрын
This was the easiest explanation I’ve ever seen on KZitem. Looks like I have an extra 100K and should cut back my part time work to just 2 mornings doing work that I like. The extra income assures really nice consistent travel.
@DLTJR1959
24 күн бұрын
We are FORTUNATE to have a state pension in the mix that is greater than both of our social security incomes combined. That is a tremendous blessing. We are fortunate to live in a state that is very sound financially.
@vernshird711
Ай бұрын
Nice to have you back! I created a formula that works from the ground up. To determine my approximate gross income needed in year 1 of retirement, I will do the following: Compile my total annual expenses during my final year of work. Add in a 10% to 15% buffer for incidentals and emergencies. Take that number and divide it by 0.8 to account for income taxes. The resulting number should be my approximate gross income needed for year 1. Add in a COLA for each subsequent year.
@rodrigok1220
Ай бұрын
So, my wife and I are in pretty good shape. In our early 50’s and have quite a bit saved in our 401k, my wife will receive a state pension plus allowed to be on medical plan she’s currently on if she retires at 60. The finish line is in site. Hopefully the economy doesn’t tank and change all of this.
@crimsonpearl4686
Ай бұрын
I am 62, single, no kids, great health, with currently right at 1 million saved for retirement. I have ZERO debt and plan to "retire" new fall 2025. My employer's health insurance continues in retirement for life (80% employer pays, 20% I pay). I think I am in decent shape.
@logicae4096
Ай бұрын
You are way above middle class! Healthcare alone is worth its weight in gold.
@crimsonpearl4686
Ай бұрын
@@logicae4096 I dont think so! Definitely middle class! I only earn about $85,000 a year.
@Markrtsoon
Ай бұрын
Any pension? Projected SS?
@crimsonpearl4686
29 күн бұрын
@@Markrtsoon Pension?? This is not the 1950s! Projected SS at 62 is $2100 a month, 67 is $2700 and 70 is $3600.
@philb6079
29 күн бұрын
I would say your upper middle class. Good insurance, good pay, good savings and no kids. Unless you live in a high cost of living city you're doing great. Enjoy your retirement!
@dstmarie1
12 күн бұрын
Looking at income and assets without looking at expenses is leaving out most of the picture. Getting rid of what is probably your biggest expense (Mortgage) changes these numbers significantly.
@vancoker-t6z
29 күн бұрын
So far I'm doing good, approaching retirement with about 800k in savings. Transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?
@bukki07
29 күн бұрын
in my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
@justlikekingsolomon
29 күн бұрын
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
@grapesandroses
29 күн бұрын
@@justlikekingsolomon sounds great! i've never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some guidance
@grapesandroses
29 күн бұрын
sounds great! i've never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some guidance
@justlikekingsolomon
29 күн бұрын
Ellen Geskin kettle is the licensed advisor I use. Just research the name. You’d find necessary details to work with and set up an appointment.
@ShannelleArmstrongFowler
Ай бұрын
Welcome back! Love your videos!
@PranaWealth
Ай бұрын
Thank you so much, Shannelle! It was good to take some time off after 4 years, but I'm excited about what's to come!
@BSGSV
Ай бұрын
YAAAAAAAAY, you're back!
@PranaWealth
Ай бұрын
Thank you, @BSGSV ! Needed a bit of a break. Excited about what's in store for this fall!
@berkley56
15 күн бұрын
😮😢😊@@PranaWealth
@berkley56
15 күн бұрын
@@PranaWealth😅😅
@miken7629
16 күн бұрын
Need to keep in mind that expenses don't stop rising during retirement, my expenses have doubled in the 12 years since I retired, plan on expenses rising 6% a year compounded annually during retirement, a person needs to keep growing their income during retirement.
@kelvinjohnson4
21 күн бұрын
I need 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 from my cash savings.
@Markjohnson09
21 күн бұрын
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
@KelvinWallace
21 күн бұрын
Agreed, opting for financial advise can be a wonderful resource for getting your finances in order. At first-hand, I average 4 figure/month in dividends and my overall ROI just hit $550k. I only have 30 or so stocks with more of my investments in digital assets.
@halimatanko7538
21 күн бұрын
@@KelvinWallace I'm glad I found this conversation. I recently settled a lawsuit and would like to talk to your coach about investing for my retirement.
@KelvinWallace
21 күн бұрын
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with “Marisa Breton Dollard” for years and highly recommend her. See if she meets your criteria.
@halimatanko7538
21 күн бұрын
@@KelvinWallace I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. Thanks.
@user-wf7hs2dy6i
Ай бұрын
Good to hear from you
@PranaWealth
Ай бұрын
Thank you!
@user-qr2vj6zc6s
Ай бұрын
Wouldn’t it be better to start with your current annual spending instead of current income? If you are spending below your earnings or have a significant 401k or pension contribution, current income is not relevant. I would think a better starting point would be current spending less any significant expenses that will end in the near future (mortgage if the end is near, cost of supporting children that should move out, and so on). The new starting point would need to be adjusted for taxes.
@user-qr2vj6zc6s
Ай бұрын
Welcome back. We missed you.
@PranaWealth
Ай бұрын
Thank you! Just needed a break after doing this pretty intensely for 4 years. More great stuff to come this fall!
@pglover19
Ай бұрын
Happy to see you back. Looking forward to your future videos.
@PranaWealth
Ай бұрын
Thank you so much @pglover19 ! I'm excited by what I have planned for this fall.
@kenr8823
Ай бұрын
Awesome to see a new video!! Hopefully all is will with you and yours!!
@PranaWealth
Ай бұрын
Thanks, @kenr8823 ! I'm excited about what I have planned for this fall. Thanks for the kind note!
@HettieClausenTl
Ай бұрын
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
@angieharris8015
4 күн бұрын
I'm wealthy as can be, outside of California. Inside California, I am lower middle-class LOL. Thank gosh I own a home here.
@corvette1023
Ай бұрын
Welcome back!
@PranaWealth
Ай бұрын
Thank you, @corvette1023 ! Glad to be back!
@Leonard-eb4uf
Ай бұрын
Glad see you back
@PranaWealth
Ай бұрын
Thanks, Leonard!
@D.J.60
13 күн бұрын
Im a single man at 28 living in Missouri. 30k is actually not bad for me. And that's still more than i make annually. I make more like 25k. I'm not middle class but im not doing bad financially.
@gimcrack555
27 күн бұрын
My life been a budget. Been knowing what goes in and what goes out for years. Doing good, since I been debt free since I was 36, own my home out right. I'm set, I don't have to worry about anything. The only if since my journey of life has been, will my health hold up. Well I'm 60 and in good shape and very healthy. Don't see the what if anytime soon. That what if, always can be that brick in your life. I'm not much of a worrier of those what if incidents.
@codecreateurroku6764
Ай бұрын
*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires* ...
@josemanuelmacias7968
Ай бұрын
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
@tulapradhan6882
Ай бұрын
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Jeff Clark, has been an amazing experience.
@jameslongwell5025
Ай бұрын
Hello how do you make such monthly?? I'm a born again Christian and sometimes I feel so down🤦🏽of myself because of low finance but I still believe in God
@lorenzorocco82
Ай бұрын
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Jeff Clark
@lucassilvaoliveira6064
Ай бұрын
Good day all👍🏻from Australia 🇦🇺 I have read a lot of posts that people are very happy with the financial guidance he is giving them! What way can I get to him exactly ?
@johngill2853
Ай бұрын
Great job and very interesting. But personal finance is personal. I could fit in all three categories (sections of the plane) at the same time My current spending I'm poor My income is median My savings are already putting me in the front of the plane
@PranaWealth
Ай бұрын
Sounds like an ideal combo, John! Great job!
@CalmerThanYouAre1
Ай бұрын
Not so fast... If you look at the the amount of social security income you presented alone, over 50% of retirees are living above a lower middle class lifestyle on social security income ALONE! That is an overwhelmingly positive sign and strong evidence you really don't need investment income at all to get by very well. And if you have a paid off house and no consumer debt, I'd argue the net effect is an upper middle class lifestyle. Those with investment income in addition to SS are really just enjoying additional "wants" since their needs are certainly covered on SS alone. With that in mind, your portfolio size really just needs to correspond with how inflated you want your completely discretionary lifestyle spending to be in retirement.
@hanwagu9967
Ай бұрын
huh? median ss w/spouse is $32,244/yr, so how is that above lower middle class at $49,720? In order to get the $32,244/yr ss w/spouse you would have had to have ending income of $96,500, far higher than the lower and middle middle-income range. 80% of that ending income would be $77,200. Poverty line for 2 is currently $20,440.
@remmond3769
28 күн бұрын
@@hanwagu9967did you read his post? That’s why he said over 50% of retirees. How can that be median when he’s clearly talking about people above the median? He didn’t say all retirees, he said over 50% of retirees.
@puravida5683
29 күн бұрын
It might help, if social security were not taxed upon receipt!
@jefflloyd394
20 күн бұрын
Simple and good, thank you.
@debocknolan6273
Ай бұрын
Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.
@favoursmith8501
Ай бұрын
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
@emmapriscilla6132
Ай бұрын
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
@masangogabriel3356
Ай 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.
@emmapriscilla6132
Ай бұрын
I definitely share your sentiment about these firms. Finding financial advisors like Monica Lisa Payne 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.
@masangogabriel3356
Ай бұрын
Monica has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
@verycautiousbeing
13 күн бұрын
I’ve worked hard to save about $500,000 for retirement, and now I’m ready to turn my savings into a paycheck. But how much can I afford to withdraw from savings and spend is what I don’t know. If I spend too much, I risk being left with a shortfall later in retirement. But if I spend too little, I may not enjoy the retirement I envisioned. What’s your advice on this please?
@justlikekingsolomon
13 күн бұрын
I'd highly recommend using the 4% rule, maybe you'd know just how much to spend after retirement
@beautifulpeoplealways
13 күн бұрын
stay flexible - If the market performs poorly, you may not be comfortable increasing your spending at all. If the market does well, you may be more inclined to spend more on some ''nice to haves''
@vancoker-t6z
13 күн бұрын
Personally, I used the 4% rule as a guideline, didn't follow it precisely. For greater level of confidence around portfolio longevity and ability to meet my goals, I use a well experienced advisor from Montana. In a nutshell, I'm semi-retired and only work 7.5 hours weekly since getting fully invested in the markets for 5 years now, amassing about $1.3m so far, after subsequent investments.
@everceen
13 күн бұрын
@@vancoker-t6z such an eye opener! never heard or used the 4% rule, I spend what I want and when I want, however i'm interested in supplementing my streams of income by investing, mind if i look up your advisor please?
@vancoker-t6z
13 күн бұрын
Katherine Nance Dietz is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
@edhcb9359
27 күн бұрын
I always saved 15%(plus employer match) and my wife has a government pension. Retirement is just a few years away. $2M+ 401k and $200k per year pension. This isn’t hard if you work hard.
@shannonhutchinson4084
Ай бұрын
Great video!
@PranaWealth
Ай бұрын
Glad you enjoyed it!
@Tensquaremetreworkshop
16 күн бұрын
Basing retirement costs on working income is a nonsense. Just pre-retirement is when you usually earn the most, and housing cost drop hugely (end of mortgage payments). You have bought everything you need, and are just replacing on failure. Jobs you would have farmed out before retirement you have the time to fix yourself. No life insurance (you have no dependents to protect). Kids have left home. I could go on. Personally, I was spending close to my income in the decade before retirement, I now find it difficult to spend more than half.
@Pje3ski
Ай бұрын
It all depends on what you have done to prepare. No debt, you won’t need 80%. According to my calculations lower 60% replacement ratio. You didn’t mention anything about what retirees actually spend. About 25% of retirees still have 80% of their nest egg after 20 years of retirement. They were good savers but didn’t transition to spenders.
@user-us1ft3go3m
22 күн бұрын
I can never make sense of these because I don't receive social security OR a pension. These always talk about social security. Some of us don't get that. All I have is my retirement savings. I am 57, I have 1.4 million in retirement/high yield savings accounts, make 100,000 per year, own my place with no debt. I live frugally and usually spend around 50,000 a year including taxes (super high cost of living in my area). Still, I feel insecure about retirement. I want to work at least till 62, and once I quit, no SS, no pension, no health insurance. I dunno. Am I ok?
@shilver101
18 күн бұрын
so a little confused where does the Federal Reserve get there information from and where do you get your information from ? Whose right?
@rdcwild3023
17 күн бұрын
Google says the avg monthly Canadian Pension Plan payment is just $816.52 (half of the avg U.S. equivalent Social Security monthly payment). Very sad
@hanwagu9967
Ай бұрын
Glad to see you are back, although you couldn't have shaved?🤣 There's a household definitional difference between houehold povertly line qualification for welfare assistnce and what a household of 1 or more earners earn combined. Basing middle class on net worth rather than investable assets is problematic, too, since net worth includes assets that aren't generating retirement income (e.g. your house). "Are you behind" is also not a good question if you are comparing yourself againt the median or average American, since you should be comparing against your needs rather than everyone else's.
@PranaWealth
Ай бұрын
Fair point, @hanwagu9967 . Comparison is the thief of joy. And the beard is saving me money in replacing razor cartridges! 🤣 Seriously, everything is turning grey. Probably need to get new headshots for my profile pic, too.
@hanwagu9967
Ай бұрын
@@PranaWealth 🤣
@Foster_a12
18 күн бұрын
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.
@lunaezj-e9b
18 күн бұрын
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.
@MikeCasey-z5m
18 күн бұрын
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.
@Alex_will12
18 күн бұрын
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
@MikeCasey-z5m
18 күн бұрын
Finding financial advisors like “Jessica Lee Horst” 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.
@Anderson_313
18 күн бұрын
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.
@joer1678
15 күн бұрын
Beware of scammers commenting on this video promising riches if you follow their lead
@scottH18370
28 күн бұрын
I wish you would do a retirement plan that includes military disability? I have free health care for life. I'm 58 with 90% VA disability and 858000 in my 401k. Can I retire at 59?
@rickstephan6707
Ай бұрын
Missed ya!
@PranaWealth
Ай бұрын
Thank you so much, Rick!
@Shypwreck
10 күн бұрын
I live check to check. I am planning on retiring early since it is way to expansive to live in NYC. If I dont leave soon I will be unable to afford rent in a few years. I have no IRA and little savings. I am scared for me and my family. I wish I could afford an IRA or something like it. Any advice?
@Dave-sw2dm
21 күн бұрын
In other words, If you played during your working life, you will pay by not being able to retire or retire with only the basic needs being met. For some that lived life hard that might just work out for them. Hope you enjoyed those $80,000 trucks and the toys you pulled with them.
@kevinfestner6126
24 күн бұрын
One way to address this crisis is to redistribute from those who saved to a government retirement fund and distribute to those who never saved through steep retirement asset taxes. Yea, that's the solution!
@christopherhurley8694
28 күн бұрын
I appreciate your channel and videos. But, single never married (no kids) do not a "Legacy" issue. Plus, I feel singles spend less in retirement than married couples. Plus, most singles do not need Life insurance. So, the concept singles need more seems off to me. But, I appreciate your posting this video. Great info.
@kathyt2108
20 күн бұрын
Once retired, no one needs life insurance, which is to replace lost income. If you’ve saved enough money, there is no need for it.
@iarocks44
21 күн бұрын
Maybe I missed something but it looked like you are saying that not having spousal income requires more income. While you don;t have thier income you also do not have the spending that goes along with it. I get you still need a house, car, etc. But it seems odd to assume the same level of need with a whole person not even there. The decreased medical alone should offset any loss of spousal income. Again, maybe I am not thinknig about it the right way.
@fredflintstone2234
24 күн бұрын
Do these figures assume you own a home? I’m above average in retirement accounts but own no real estate. Still rent.
@pensacola321
Ай бұрын
In The United States middle class is working class , barely above poverty. Who wants that? Remember, if you don't fly first class your kids will! Move to the other side of that curtain! Glad to see you back.
@AvitaBeckling
2 күн бұрын
you could have 15 million and if 1.00 $ is worth nothing then 15 million of them won't help you. my 401k is 489k and growing my retirement is based on selling two properties to get my final place and have an additional nest egg when I'm about 55 make about 148k annually between business/work I will be fine unless the dollar is worthless.
@mocheen4837
19 күн бұрын
Middle class come in San Francisco is $300,000.
@alter3go411
22 күн бұрын
with th median you can live like a king just about anywhere in SE Asia and as a duke in some parts of western europe
@BodaciousWench
10 күн бұрын
I guess I’m lower class then. What are my numbers?
@mattbleiler7294
28 күн бұрын
Are these numbers household or individual?
@hellodolly9879
Ай бұрын
This was too confusing.
@cato451
15 күн бұрын
Median savings is pathetic.
@rictech.
23 күн бұрын
I guess I’m flucked.
@wndowpayne
19 күн бұрын
Dont forget to factor in debt...You better have ZERO...
@PranaWealth
18 күн бұрын
Good point. Although with some of the extremely low interest rate mortgages out there from 2021 and 2022, you could make a case for keeping those.
@walkingdude8779
24 күн бұрын
The term Middle class means nothing. Technically, my household is above middle class yet I guarantee we are middle class on our take home pay. We still need to budget, measure, adjust …. I guarantee we are not sipping champagne and eating caviar.
@walkingdude8779
24 күн бұрын
We need to do away with spousal SS benefits. One person pays in should not result in 1.5X in benefits.
@kathyt2108
20 күн бұрын
@@walkingdude8779it is a safeguard for those who stay home with the kids. Very necessary.
@walkingdude8779
20 күн бұрын
@@kathyt2108 if your spouse passes you get 100% of their benefits. Why should one home get 150% of benefits and another get 100% benefits while paying the exactly the same amount. Or even another household fet double the benefit while paying twice the amount. The system is providing benefits for no contribution yet we are concerned the system will become insolvent due to overpaying benefits. Granted, I would start cutting fraudulent disability, alien nationals that didn’t pay in prior to getting benefits first. However the system needs to be x in y out and that’s it. Sorry. My health will probably prevent me from getting any benefits but that’s the deal that was made under the treat of violence by the government.
@dannyknapp515
14 күн бұрын
Everyone of these retirement videos by all the people have scammers all through it waiting to steal from you
@patdaly4107
Күн бұрын
dumb anything between 200,000 and 500,000 is middle class
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