Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@YinusaSaheed
6 күн бұрын
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@johnawara9719
6 күн бұрын
@@YinusaSaheed Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. MARGARET MOLLI ALVEY, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@YinusaSaheed
6 күн бұрын
@@johnawara9719 Oh please I’d love that. Thanks!
@johnawara9719
6 күн бұрын
@@YinusaSaheed MARGARET MOLLI ALVEY , lookup with her name online.
@YinusaSaheed
6 күн бұрын
@@johnawara9719 Great , i will do that now . Thanks for sharing
@HomeVdz
2 ай бұрын
Great advice. Thanks for making this video. Don’t forget to run a spelling check on your slides before you use them though!
@dadinvestor
2 ай бұрын
Thanks for watching and the feedback!
@resolvedavid
2 ай бұрын
Helpful content thanks
@jugglematt100
12 күн бұрын
Good video . I would realy appreciate a video with information for a comfortable life style with retirement before 67 .. say retiring from an age of 60 .....year by year balances required to the age of 67 . Many of us really dont want to work until 67 years of age . Thanks
@dadinvestor
3 күн бұрын
Great suggestion! I'm keen to retire before 60 so might have to reveal my plan.
@robsalvv5853
2 ай бұрын
ASFA’s standard is a (decent, debt free, home owning, 67+yo) guide. Some commenters seem to have missed that. I totally agree that each person should audit their own financial life and prepare their own personalised budget for the retirement life that they want to live. For example, I run two motorcycles and a car… I expect to keep those in retirement, and I intend to retire at my preservation age, so I need a higher balance in the base case. This is why personalised advice is important.
@dadinvestor
2 ай бұрын
Thank you. Might have not articulated it clearly enough but yes this retirement standard is a guide. Takes you from no idea to some idea and a handy reference when you are personalising your own retirement income plans (as opposed to copying it line by line).
@CessSim
2 ай бұрын
Thanks for this video. Greatly appreciated. I think the ASFA data is a little skewed as it tends to assume a flat spend profile. I would argue your greatest spend will happen earlier in retirement than later. As you age no doubt more on health care and less on the luxuries (if that makes sense)............
@dadinvestor
2 ай бұрын
Absolutely true. Very hard to predict a flat line of spending in or outside of retirement. One interesting way I've seen to consider spending is by aligning it with investment returns - eg. If markets go up your spending goes up. Here's an article from Vanguard that talks to it advisors.vanguard.com/insights/article/show-clients-that-yes-they-can-spend-more-in-retirement
@Mambey
2 ай бұрын
At what Super balance does the aged pension cancel out?
@DiscoFang
2 ай бұрын
Nice take on this but your forgot THE fundamental factor is determining how much you'll need - Inflation. You mentioned inflation as a factor once you retire but that's not the most important issue. You need to know how much you'll need to retire on, but all the figures you gave are in today's dollars. Australia has a historical average of 4.88 percent inflation so if you need $595,000 today to have an annual income of $51,600, it's a VERY different amount you'll need in 10 or 20 years. To have the equivalent buying power of $595K after 10 years of inflation requires $958,000 to give an annual income of $83,095. In 20 years that jumps to needing $1.54 million for an annual income of $133,814. Now of course that's using the inflation rate of 4.88% which historically may have been skewed by house prices but the fundamental point is still there. To work out how much you'll need in the future you NEED to factor in the rising cost of living which is equivalent to inflation's compounding erosion of your retirement savings. Not one financial channel I've seen here does this as a fundamental.
@dadinvestor
2 ай бұрын
Yep, inflation is a factor but how fundamental it is depending on when you want to retire. If it's soon, you don't need to worry as much, but if it's far off, like 10 or 20 years, then of course inflation matters more. But then if that's all you focus on then it might overshadow other crucial factors like personal lifestyle choices, healthcare expenses, and unforeseen events which can significantly impact your retirement needs. Everything will be a different price in 20 years and then there are things you are not even spending money on today you'll need to cover and vice versa. I personally avoid mapping out my long-term plans 10-20 years ahead as none of the big financial moves I've made up to this point were able to be predicted that far in advance. Back to inflation though and to me the best way I like to take it out of the equation is to make put money into things that usually do better than inflation. Superannuation is a good example of this where money is more likely to be invested in the stock market. The Aus market has provided on average 7.9% a year in 'real returns' since 1900 so confident in it outpacing inflation and protecting wealth but of course diversification is key.
@DiscoFang
2 ай бұрын
@@dadinvestorYes super is generally outpacing inflation but the critical point is by how much? 7.9% minus inflation is 3.0%. How many people work their figures using a 3% return? The question of this video is “How much do I need to retire?” If you think taking account of inflation is an “of course” that pretty much applies to every single expense you categorised “Well, of course”. I think you could guarantee that 99% of people thinking of a figure they need for retirement have no clue how much of an impact inflation has.
@dadinvestor
2 ай бұрын
Note the figure of 7.9% is a "real return" meaning inflation was taken out already from the nominal average return rate of 11.7%, using the 3.8% inflation average since 1900 rather than the 4.88% average from 1951. Knowing what I know and working with people who retire, I can agree that barely anyone takes into account the impact of inflation, but it doesn't become an overwhelming factor until they stop holding assets that outpace the growth of inflation.
@DiscoFang
2 ай бұрын
@@dadinvestorAh real return. I’ve learned something. Thanks. And 3.8 is more in line with figures I’ve been using myself.
@Mambey
2 ай бұрын
What sort super balance cancels out the aged pension
@michael4570-o4r
2 ай бұрын
Thanks for making the video. Would be great if you could also recommend a good retirement planner/calculator to estimate the amount you would need in super to sustain your income. Moneysmart's retirement planner is a bit too simpel (e.g. it doesn't allow you to adjust your income later in life when you might not have the same expenses).
@dadinvestor
2 ай бұрын
Most of the big super funds have them build for their sites, but this one from Mercer is a good one supercalcs.com.au/ although I don't think you can adjust income at stages, but still will give you a good indication of how long money will last and what your spending could be long term.
@djdownie3
2 ай бұрын
I'm skeptical of that standard. I think they trot that out to make the super process seem functional for normal people. Truth is, nobody I know has a household income of that level and thinks it's comfortable. The average full time salary for one person is closer to 100k - and listen to the cries of how households (often with two of those salaries) are struggling with the cost of living. Studies on what retirees actually spend aren't that helpful as they spend proportionate to their income. If normal super returns work for ordinary people, then why do politicians, with very large incomes, need extra when they retire? I think a lot of Australians are in for a terrible shock in retirement, especially as the next generation comes through with no house to speak of. Reform is needed.
@dadinvestor
2 ай бұрын
No one ever thinks they have enough. We always want more. The retirees or aspiring retirees I talk to most own their own home and that + super + general savings + aged pension are a powerful combination. The first thing though is yes to have a home and if thats not something you have on the verge of retirement it can become a challenge, but not impossible, do to the systematic advantages that homeowners have in pension phase. On the specific numbers I shared from ASFA - these are just a reference point. I don't think I've personally ever had the exact same income two years in a row so would hope that other viewers can consider the fact that a guide like this isnt a prediction of the next 20 years.
@tacitdionysus3220
2 ай бұрын
The average wage is not a good measure as it is skewed by a small number of very high incomes. The median full-time income (about $65,000) is more representative. (The median is the amount that 50% of people get less and 50% of people get more.)
@djdownie3
2 ай бұрын
@@tacitdionysus3220 I'm surprised by that. I wonder if it includes welfare.
@michaelramage73
2 ай бұрын
Super is tax free.
@tacitdionysus3220
2 ай бұрын
@@djdownie3 I would probably have said the same once. I held mid to high managerial level jobs for much of my life and had no idea how modestly most peopled were paid. After retirement I did some part time jobs for interest, based on hobbies I had previously. If I had worked any of those full time they would have paid around $60K.
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