The 401k is good, because retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million. So it really does.
@KieferRomer
4 ай бұрын
My journey into FIRE has taught me a lot of lessons, at the top of that list is that it never pays to live above one's means. I have managed to grow a nest egg of around $600k to a decent 7 figures in the space of 14 months. Sad to say but a lot of us have poor money management skills. My 2 cents - get an advisor to keep you accountable and aid you make better decision, I find it better to pay a little bit more for peace of mind than worry about money or market trends and still get burned.
@AugustoRosario22
4 ай бұрын
I totally agree, money management is vital to early retirement, reason I prefer my day to day invt decisions being guided by a invt-coach, 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 a invt-coach for over a year and I've netted over 1.5million.
@KieferRomer
4 ай бұрын
I've been thinking of going that route, been holding on to a bunch of KZitem-commended stocks that keeps tanking and I don't know if to keep holding or just dump them, think your inv-coach could guide me with portfolio-restructuring?
@AugustoRosario22
4 ай бұрын
Sure, the inv-coach that guides me is Lisa Ann Moberly, she's popular and has quite a following, so it shouldn't be a hassle to find her, just search her.
@KieferRomer
4 ай бұрын
Thanks, I found it. I booked a call with her on her website, her résumé seems pretty tight.
@chriswb7
19 күн бұрын
@@KieferRomerYou just got played by a BOT.
@PC800Fixes
5 ай бұрын
This is the best “retirement scenario” video I’ve ever seen on KZitem. Thank you so much…very informative.
@josephcler3299
5 ай бұрын
If you're only getting a 5.31% return from your investments after using a financial adviser. That's your first problem.
@teole6364
5 ай бұрын
Exactly, if you use 700k and sell cash secure puts on SPY, you could make a lot of money. 5% is a joke
@az21bob666
3 ай бұрын
He useing worst case
@douglastarvestad186
6 ай бұрын
I love this analysis. What I like doing is using these ideas and creating my own plans using Excel. I can do all these scenarios and more. I take more control of my finances, and its enjoyable.
@amyyates8273
6 ай бұрын
This was a great analysis, thank you!
@ds5651
6 ай бұрын
Look at your monthly budget. Take 4% of your investment account each year add your SS check. Does that equal your monthly budget.
@kevindavis4860
6 ай бұрын
Great information educational! Every individual should do their own research and calculation. I appreciate the outline and how different scenarios and potential outcomes are presented. My question is around the cost of this analysis one should expect to pay just for that type of info.
@Cello69.
3 күн бұрын
I’m looking at this at 62 Monthly $1900 passive income $3200 pension #1 $390 Pension #2 $3000 investment return $1800 social security $10,290 total monthly. I have a million in my 401k. Being ultra conservative and assuming a 3.6% withdrawal.
@music-jj2pl
29 күн бұрын
Who can go back to work after 8 years of retirement? I work in software, 8 years away from my industry might as well be 800 years. just look at what AI has done in 1 year? When I retire I can never come back.
@nrivera567
Ай бұрын
I want to know where are those people retiring to? They’re planning on spending $2,200 a month? Where ? Even in SE Asia that’s very little money IMHO. Great video!
@derekp6636
Ай бұрын
all i can guess is paid for real estate in a low cost of living state....2200 a month SOUNDS like a lot to some but not if you have to pay rent etc.
@OakHarvestFinancialGroup
20 күн бұрын
Hey @nrivera567, you bring up a good point that living on that monthly amount would be tough. Would definitely require some planning and a frugal livestyle to make it work. Thanks for watching!
@cryptocurrencyqueen6426
4 ай бұрын
This is an excellent video thank you very much. What software program did you use?
@dday11
6 ай бұрын
Great video
@OakHarvestFinancialGroup
5 ай бұрын
Thank you @dday11!
@jeffs2559
6 ай бұрын
Do the plan documents need to explicitly say that the administrator allows the rule of 55?
@hownwen
6 ай бұрын
I get it but these types of videos frustrates me because theres so many different factors for different people...
@swright5690
6 ай бұрын
I feel you....every single case is different. You are not alone in your frustration.
@stk6mkt
6 ай бұрын
You are exactly right. These videos are laughable. Every situation is different.
@JethroXP
6 ай бұрын
He’s not running your numbers, he is giving you an example so you can use the same methods for evaluation on your situation. I’m not sure what is frustrating about that? Maybe hire a CFP to look at your specific situation rather than relying on generic examples on KZitem?
@M22Research
5 ай бұрын
You get it! The point of the video is to show these decisions are not always straightforward. That is, they require either using a retirement planning tool or hiring a qualified Retirement Planner to do it for you.
@TheGregWallace
5 ай бұрын
Don't let it frustrate you.....let it allow you to think of your factors and when you go and talk with someone like this guy you can figure out if it will work for you.
@chunkysalsa
6 ай бұрын
What’s the tool to run my own calculation?
@QuantumJ67
6 ай бұрын
Good info.. and very close to my own personal scenario. The biggest concern I have about retirement success is the looming Republican goal of reducing, delaying, or eliminating of social security benefits.
@SuperApostle1
6 ай бұрын
Give me a break. Is that why the vast majority of people are saying the economy would be better under Trump? My 401(k) and IRAs were much better under Trump. They averaged 22% growth EACH YEAR under Trump. Not so with Biden the last 2.5 years. Grow up. 😂
@zski1
2 ай бұрын
You do realize, the government of both parties have spent us into defecto bankruptcy? If SS & medicare are not fixed soon, unfortunately, benefits will be cut. I"ve read as high as 30%. And if that' comes true, the retirement age will have to be increased. Both parties are at fault for this. As long as the US keeps dishing out money to the world, we all will suffer. People are policy, vote for the policy, not the man/woman. Just sayin'
@DIAPERJOE
6 ай бұрын
Turn off her Amazon account and there is a 109% success rate.
@timlincoln2246
3 ай бұрын
😂😂😂
@danieldoucet8687
6 ай бұрын
You can retire for under $2000 at Goodyear Tires.
@jerrycampbell-ut9yf
5 ай бұрын
Awesome! I appreciate your viewpoint. I currently earn $600k per year. I have no home or investments, and my job is in New York because I work from home. I need to act quickly or else I'll owe the IRS thousands of dollars come tax season. What should I do?
@kito1san
3 күн бұрын
If its just 2.5 years left. Why not just wait and get through it. You have waited all your life mind as well. Unless you are told you be going out sooner, then obviously, everything is moot point.
@Steveo_00700
6 ай бұрын
You can withdraw from 401k at 55 without incurring penalties.
@SizzlerC
Ай бұрын
Really???
@billleeee
Ай бұрын
Only if it’s the 401k of the company you were working for in the year you turned 55. I think it’s called something like the “Rule of 55” for retirement, if you’re looking to Google it. Not sure if every plan is set up for that, but I believe most are. You still have to pay income taxes, but there aren’t penalties.
@davidberman-qi6ef
6 күн бұрын
The rule of 55 but only from the account from which you had with the company in the year you turned 55.
@Steveo_00700
6 күн бұрын
@@davidberman-qi6ef , Ah. Got it. Thanks.
@57054
5 ай бұрын
You can if you don't have any medical problems and you're not dependent on expensive prescription medications.
@OakHarvestFinancialGroup
5 ай бұрын
Hi @jayjohnson1169, thanks for bringing that up! This was just a generic hypothetical situation, but we definitely recommend taking into consideration any health or medical needs that you know you'll have when financial planning your retirement - that's something that we look at fully as part 4 of our Retirement Success Plan. Here's a video we did on that specifically: kzitem.info/news/bejne/x6KMvn-ua4KDn5g
@gabrielcontreras3993
Ай бұрын
These type of videos are facts and figures!?!? Common sense I think I learned f my parents. I’m 591/2 in September, probably going to retire next June when my wife does. With both pensions combined; 14k month and income properties 8,500 monthly. Plus savings and 401k and zero debt I think we are fine. Monthly expenses now 5k I’m not even counting on social security, it’s so little after 30+ years of working
@OakHarvestFinancialGroup
Ай бұрын
Hi Gabriel! Yes - these are real-life scenarios and the reality for many. Thanks for watching and sharing how things are working out for you! Take care.
@RoadRunner592
Ай бұрын
I'm only 36, but I'm single, with no kids (I have a cat), and have a net worth of $305K. I'm on track to becoming a millionaire by age 45. Only $125K of my investments are in an actual retirement account like a 401K and Roth IRA. My plan is to FIRE by 50 with having recreational employment to sort of coast until I'm 62.
@OakHarvestFinancialGroup
Ай бұрын
Hey there JP! Thanks for watching and sharing your plan.
@lauriekline8655
6 ай бұрын
What about healthcare in this example if he isn’t getting insurance from his employer he could pay upwards to $2000 a month for health insurance.
@hownwen
6 ай бұрын
Affordable healthcare act
@JustinPratt1
6 ай бұрын
Retire outside the US. For instance Spain you could live pretty well on $50k a year and health insurance would only be like $80 a month and would cover everything like dental and vision with 0 deductible or copay.
@nickv4073
6 ай бұрын
Wrong, wrong, wrong. Affordable care act will pay a huge subsidy based on $50K income for two. They would pay less than $200 a month combined.
@MrWaterbugdesign
6 ай бұрын
@@nickv4073 Keep reportable income under about $15k/yr and the cost is $0. I've had Medicaid $0 copay, $0 deductible. Best insurance I've ever had. Company that manages my insurance is a non-profit so super nice people, helpful, answer the phone quick. I funded retirement for 22 years slow flipping houses. $260k of cap gain is tax free, not reportable income. I don't even have to file state or Federal income tax.
@MrWaterbugdesign
6 ай бұрын
@@JustinPratt1 I plan to move to SE Asia next year. I can cover healthcare costs out of pocket there and they have some great hospitals. Appointments in a day or so unlike the weeks, months wait to see someone and a lot of complexity. $24k/yr is considered very rich by locals and a decent income for Americans. Plus I'm a single man and dating young beautiful fun women is plentiful and inexpensive.
@atobpe
5 ай бұрын
How can a couple live on $ 50,000 per year. And does this take into account infllation and taxes?
@howard6433
5 ай бұрын
With paid-off house and cars....easily.
@timlincoln2246
3 ай бұрын
@@howard6433I would not say it’s easy. Medicare plan costs, dental, eye care, utilities, state, county, school taxes, insurance, plus the other necessities eat that up quickly, and that’s not just in NYC or LA. I live nowhere near those places and my necessities, without saving for a car and with no mortgage, my annual expenses would be $20,000. That does not include food. The $50k will be taxed as income. So although this might work, you would live a meager existence, not enjoying your retirement and hoping your car outlives you and there are no major expenses to your home like a new roof or HVAC.
@Andrew-it7fb
Ай бұрын
My wife and I live off that now and that's with paying a mortgage. I make more than that but the extra goes to savings/retirement.
@NicholasGramazio
28 күн бұрын
@@timlincoln2246 the $50k doesn't have to be taxed if it's recovered from a Roth account or reimbursed from an invested HSA
@o.c.g.m9426
2 ай бұрын
I find that people tend to feel the need to retire way earlier than normal because they put off enjoying life for "later years." DON'T DO THAT. When young travel, explore n try new things. You might live to do it later
@OakHarvestFinancialGroup
Ай бұрын
That's a great point, @o.c.g.m9426! Thanks for watching.
@charleswells6890
6 ай бұрын
I’m 62 with 3.6 mil. I have everything paid for. Can I retire?
@daveharness70
5 ай бұрын
Goodness no! You'll need to work until 70 for sure....inflation is a harsh mistress. Then, and only then, can you go from 99.9% success rate to 100%. Glad you posted and I could help you!
@scott5966
5 ай бұрын
You are a better than most but not yet secure. The more important question is, can you live off 117,000 per annum which is a 3.25% draw from your 3.6MM. I wouldn't take more than that for a few years unless you don't have a long life expectancy. The 4% rule is usually good for a 30 year horizon and you might exceed that given your age, hence my more conservative draw rate. Once you add in SS and subtract any health care costs since you do not yet qualify for medicare, that will give you your answer. If you need more than 117K gross plus SS, than you can't retire. Sorry. The good news is you are only likely 3 to 5 years out from being in good shape provided you own your home outright or are close to doing so.
@charleswells6890
5 ай бұрын
Too late I already retired. Guess I’ll just take my chances.
@babulalsatasiya
5 ай бұрын
@@charleswells6890 You are fine, you may disclose some info about your plan... since you already made decision! $3.6M, Even if it gives 5% or 5.5% interest in last two year market, you could have made at least 180,000 to 200,000/Year without losing penny from this saving, Technically this would last forever! unless these are all pre-tax money, than technically they are not $3.6M but you can count 25% Fed and State tax if you live in CA or some high tax state. You still will be fine with even after paying that tax $1.26M Tax(Proximate 35% Tax) in next few years. still left with $2.3x, which still a lot as you are close to get your medical benefits. Enjoy your life!
@Alex-jx5bx
4 ай бұрын
You should have been retired long ago
@legendary_soup4454
6 ай бұрын
Someone needs to edit this and add the blade runner interlinked everytime he says interlinked.
@M22Research
5 ай бұрын
Correction: (20:29) The Trump Tax Cuts do not expire at the end of “2026”. They expire at the end of 2025.
@OakHarvestFinancialGroup
5 ай бұрын
Thanks @M22Research!
@firstlast1732
5 ай бұрын
If you’re expecting interest rates to be 2.5% over 30 year. You’re dreaming not happening as history has shown us
@OakHarvestFinancialGroup
5 ай бұрын
Hi @firstlast1732! Thanks for watching and weighing in with your perspective on things!
@Andrew-it7fb
Ай бұрын
The current 30 year average inflation rate is 2.28%
@firstlast1732
5 ай бұрын
Life expectancy’s are no longer increasing they are decreasing due to the horrific lifestyle and diet of the standard American
@OakHarvestFinancialGroup
5 ай бұрын
Hi @firstlast1732! Thanks for watching!
@JeremyEverett-y3e
5 ай бұрын
Back in 2014 I had a manager who retired and used IRS rule either 55T or 57T that allowed him to take early withdrawals from an IRA account that he had to deplete by 59.5 years old, and he didn't have to pay the penalty. Did that change in 2017?
@OakHarvestFinancialGroup
5 ай бұрын
Hi @user-dv2se8km7x, it’s 72t, actually! Here's a video we did on it: kzitem.info/news/bejne/0YWVl4ehk5agmqg. Thanks for watching!
@JeremyEverett-y3e
5 ай бұрын
@@OakHarvestFinancialGroup so why didn't you mention that strategy in this video for avoiding the tax penalty?
@OakHarvestFinancialGroup
5 ай бұрын
In our original video, we tried to provide a broad overview of retirement planning options applicable to a wide audience. As much as we’d like to, due to time restraints we aren’t always able to mention or delve into every specific strategy every single video. Thanks for bringing it up in the comments though - we do try to respond as much as we can with requested resources/education when we’re able. Thank you for being a part of our community!
@M22Research
5 ай бұрын
Improvement Feedback: consider testing different smart screen colors/contrasts or lighting or camera settings. At least for me, watching these videos on a large, high quality flat panel TV driven by ROKU/AppleTV/FireTV, the text/values on your smart screen are very washed out and difficult to see. BTW, I thoroughly enjoy these scenario videos and often learn something even when the assumptions do not match our situation.
@OakHarvestFinancialGroup
5 ай бұрын
Thanks for always tuning in, @M22Research. And thank you for the feedback as well. We're currently working on a better solution to show what's written/displayed on the board. Hopefully we'll get that deployed soon!
@pete955
6 ай бұрын
And I thought the UK retirement rules were complex 🤓🤯
@DillyDogSays
5 ай бұрын
How the heck do you pay for healthcare and how much is it when you retire in 50's??
@OakHarvestFinancialGroup
4 ай бұрын
Hi Richard! We actually have a couple videos on this - here are a few of them: Step 4 of the Retirement Success Plan: Health Care Planning kzitem.info/news/bejne/x6KMvn-ua4KDn5g. Your Health and Long-Term Care Planning In Retirement During a Bear Market kzitem.info/news/bejne/xmihq6Gnb3V4g5w. Hope this helps! Thanks for watching.
@wonyoo3
6 ай бұрын
Doesn't Trump tax cut ends in 2025?
@brownwhale5518
6 ай бұрын
Only if congress doesn’t extend the trump era tax rates But ask you tax advisor
@bobackerman54
6 ай бұрын
If nothing else is done they will ... if however, Trump wins the upcoming election and gets a republican house and senate i would suspect the tax cuts would be extended ...
@swright5690
6 ай бұрын
Yes. 2025 I am assuming it will expire. Roth conversions till then
@scottwilbanks9888
6 ай бұрын
I would like to see a 5% withdrawal on 1.6m for a 57 year old couple. I think that’s more realistic and have inflation set at 3.25%
@MrWaterbugdesign
6 ай бұрын
Or divorce. Seriously. Grey divorce is increasing and imo the single biggest threat to retirement. I divorced at 59 and that lowered my expenses a lot will increasing my happiness (I assume for my ex too since she asked for divorce). Planning to sell my Phoenix house in 2025 and move to SE Asia with $550k cash and $5100/mo income. $3000/mo is considered very well to do even by expats there. As a single guy being able to date all the young beautiful fun women I want, maybe marry, is priceless. Men say it makes them feel 20 years younger. They go from being invisible old toxic males to rockstars. Worth a try imo.
@scott5966
5 ай бұрын
why would you take a 5% draw rate on 1.6MM at 57. You would likely run out of money unless you both have very short life expectancies given family history. I'd be much more conservative and test run at 3.25% draw at that age and if you can survive you could consider retiring.
@kennethboehnen271
3 ай бұрын
@MrWaterbugdesign good plan. I did it.
@timlincoln2246
3 ай бұрын
What about the rule of 55? This should have great impact to those retiring between 55 and 59.5, if they have sufficient funds in their last employer 401k plan.
@OakHarvestFinancialGroup
3 ай бұрын
Great point! The Rule of 55 is an option for those looking to retire early, specifically between ages 55 and 59.5. Under this rule, if you leave your job (whether you quit, were laid off, or retired) in or after the year you turn 55, you can withdraw funds from your last employer's 401(k) plan without the usual 10% early withdrawal penalty. This can be a significant benefit for those who have sufficient funds in their 401(k) and are looking to bridge the gap until they can access other retirement accounts or Social Security benefits. It’s a useful strategy to keep in mind for anyone planning early retirement!
@teams3345
5 ай бұрын
Rule of 55 is great for early retirees.
@OakHarvestFinancialGroup
4 ай бұрын
Thanks for watching @teams3345!
@jdgolf499
6 ай бұрын
What is included in their $50,000 expenses? Is that sitting home doing nothing, or does it include non-essential, such as trips, movies, entertsinment, etc? If it includes non-essential, wouldn't you reduce spending in the early sequence of return down years, before looking at taking SS early?
@MrWaterbugdesign
6 ай бұрын
Exactly why these types of videos are pretty silly. I retired 22 years ago at 45. My average spend has been $600/mo for 15 years. That would sound horrible to most people but I've enjoyed myself. I was a software engineer and could have gone back to work at any time for high pay if I wasn't having fun on $600. Haven't taken SS yet, could today at $3080/mo but no need. There are many ways to retire. Most Americans seem to think retirement must be basically the same as when working. If you earned $200k/yr you'd need some huge budget in retirement, but if you earned $80k a much lower budget. Seems odd to me. There are endless things to enjoy that costs nothing and many hobbies can even bring in money. One thing I got into was gardening and fish ponds. Once I'd created gardens and ponds in the yards of my house I did a yard for someone else for money. But working for someone else wasn't as much fun. So I fixed up that house, sold and bought a dump of a house so I could create another garden and ponds. Found I really liked real estate, design and remodeling and that $250k cap gain was tax free. Working on house #4 now. Plan to move to SE Asia in 2025 to create a super garden and ponds. Plus all the other fun there of travel, exploring and dating beautiful young women.
@dacianbonta2840
6 ай бұрын
You can and you should. But you won't. a serf gonna serve until it can serve no more. they'll drag yo' lifeless husk outta yo' workspace, but mop it before put a new serf in there
@MrWaterbugdesign
6 ай бұрын
Correct. But many people seem to enjoy non-thinking and being a serf. I'm being serious. Being a worker in the US is a pretty sweet deal for many people. If you're in a crappy low paying job after age 30 you have seriously screwed yourself. A chunk of people take that path.
@cato451
Ай бұрын
Sure as long as you live on a budget.
@OakHarvestFinancialGroup
Ай бұрын
Hi Cato! We recommend budgeting, no matter what level you're at. Thanks for watching!
@JK-fr6hu
Ай бұрын
What’s the lowest probability % you’d consider to be safe to retire?
@OakHarvestFinancialGroup
Ай бұрын
Great question. Since everyone’s retirement is so unique, this question is difficult to answer. This is because it is based on two factors: 1) how the numbers (assets, income, expenses, longevity, etc). correlate and 2) what each retiree sees as a ‘safe’ number. Many of our clients remain on an excellent track to not run out of funds in retirement and their numbers range from low to high 80% figures. We have others who get uncomfortable if they don’t remain at a consistent 99%. Thanks for watching!
@bernaclischurchill4463
6 ай бұрын
That would probably work, if the potential of SS becoming insolvent in 2033 and the potential cuts of 23%. A newly formed Republican committee is looking at (which consists of 80% of the party, moving the FRA to 69, thus that would definitely impact a person's SS at age 62, especially if they leave the first eligible age for SS at 62 and don't move it up, when they move up the fully eligible age to 69. Thus, you would probably have to take $50 longer than is indicated to cover expenses.
@MrWaterbugdesign
6 ай бұрын
Scary. But then there is reality. I'm 67 and for 60 years I've been hearing "SS will run out". Realty is America is a very wealthy country. Republicans would love to end SS but haven't dared even approach the subject. No Republican would ever get elected again. Increasing the FRA would have no effect on people close to retirement age and certainly no effect on people already retired. In 1983 FRA was raised from 65 to 67. I was 27 years-old in 1983 and my FRA increased to only 66 and 4 mos. Current CBO option for raising FRA to 69 effects people born 1962 and 1978 raising 2 months for each year. For those born before 1978 FRA would become age 70, So anyone 62 and older is not affected. A 61 year-old FRA would increase by 2 months. Not exactly the end of the world. However, increasing FRA seems unlikely. It was only proposed by 176 Republicans as a way to fund making Trump's tax cut for the wealthy permanent. Standard politicking is to propose something that has no chance of passing so you can say you tried. If this minor tweak to SS actually got some traction in Congress the heat would be turned up and many Republicans would run for cover. SS is like every other gov program. If we can afford it and people like it then it stays. If no tweaks are made and SS runs out of funds Congress would add funding. There are many other programs that could be cut. Taxes on the wealthy could be made. Tweaking SS will take bipartisan leadership and that is many years, decades away if it ever happens.
@bernaclischurchill4463
6 ай бұрын
@@MrWaterbugdesign When asked if he would join their committee on the proposed laws extending the FRA age for SS. Trump said no. I also find it very strange that this topic was brought up during an election year, as well. Unfortunately, as time marches on, the next president coming in 2029, would be stuck with the task, whether they like it or not to do something about Social Security's insolvency. Then it would become a last ditch effort, haphazardly done, possibly with poor results, when it could have been done more effectively earlier. But we will see.
@dogegamer3288
5 ай бұрын
You can do what you want. Sure you can retire with 700k and be poor. That's a decision you'll have to make. Better to never retire, and just retire instead to meaningful work...e.g. growing your own food, running a soup kitchen, an orphanage etc.
@CallSignWhiplash
Ай бұрын
Retire abroad on half the cost in the USA 👍🏼
@OakHarvestFinancialGroup
Ай бұрын
Thanks for watching!
@stevene.874
6 ай бұрын
This video is clearly a sales pitch for their services and sadly someone out there will think they can retire under these circumstances. Very risky despite his 98 percent probability claim.
@M22Research
5 ай бұрын
Apparently you expected a small business to provide free advice simply out of the goodness of their hearts? Of course these CFP videos, no matter who does them, are sales pitches. And I, for one, have been using the many CFP channels I watch to evaluate these CFP’s to find a good match for us.
@CarrieV9
6 ай бұрын
It’s so odd that so many of these YT financial scenarios involves a non working/ never worked female spouse.
@DIAPERJOE
6 ай бұрын
It happens.
@MrWaterbugdesign
6 ай бұрын
Pretty common. I'm a 67 year-old man dating American women age 55-65 all over the US (travel is no prob). I run into 2 basic types of women. Fair number of professional or divorced well with plenty of assets. The other type did crap jobs their whole life and starting to realize their retirement is not looking good so they're looking for a lifeboat in the form of a walking ATM. Unfortunately both have issues for me. The well to do women have no intention of changing their lives. They ask me to move into their home, their lives. They want to travel and do things they want to do, the way they want. I'm a dude. I have my own life and plan. The lifeboat ladies general are in poor health. Poor financial decisions, poor health decisions, see the pattern? These ladies are more fun to date but not good long term partner material. I like being a provider but these ladies are delusional. Nearly all consider themselves financial experts and even on the first date are telling me how I should manage my money. I retired at 45. I really don't need that in my house. So I'm moving to SE Asia. Plenty of women there eager to get on my plan and not tell me how to manage my money. Younger and more beautiful too so win-win.
@M22Research
5 ай бұрын
If you’re offended by that, swap the genders. Not all families are two income.
@CarrieV9
5 ай бұрын
Not offended just an observation about the lack of scenarios presented that make the content less helpful for audiences. Plus, women are generally ignored in the personal finance space
@ItsEverythingElse
6 ай бұрын
I would not retire early if the plan was to only bring in $50k yer year!
@JustinPratt1
6 ай бұрын
I certainly would, just not stay in the US. There are places you could retire like a king on $50k a year.
@bobackerman54
6 ай бұрын
i agree with you, but if they also got a $20k pension, that means they are living significantly more comfortable lifestyle ...
@Bill-vk7fh
6 ай бұрын
If the plan works, they should retire. Expenses of 50k per year is possible.
@erikpeters2630
5 ай бұрын
I travel now and when mortgage is payed off I will live on about 40k a year in current dollars and live well. SLOW TRAVEL! One 3 month vacation in an inexpensive country a year with a few shorter ones in the States. Easy Peasy;)
@commonsenseisntcommon1776
6 ай бұрын
nope
@gobot4455
6 ай бұрын
Jesus. If I only had $700k at 57, I would be worried but then I want to earn the equivalent of $100k in 2018 when I retire in 2036.
@SuperApostle1
6 ай бұрын
What?
@fredkim01
6 ай бұрын
No. You need at least 2 millions to somewhat comfortably retire
@jimmyolsenblues
6 ай бұрын
i am 54, i have 750k , in mostly ira 100k in annunity, in nov they cut my pay 50 percent i quit. i only need to live on 2k a month because i live rurarl tennessee, now i have no medical insurance, that's bad, i asked back at my job at reduced pay for insurance. gov't contractors take a long time to get approved, so we see. But essentially I could live on 3% return. Mainly in $aapl cash secured puts may. yes risky. but i enjoy this type of math and analysis. my mortgage is only 517, we see what happens.
@MrWaterbugdesign
6 ай бұрын
I retired 22 years ago at 45. I currently live in central Phoenix, own my home. My average spend for everything has been $600/mo for the past 15 years. I've not had any investments so my reportable income has been basically $0. That qualified me for free healthcare, Medicaid $0 cost, $0 copay, $0 deductible, At 65 Medicare plus Medicaid so Part B & D paid plus $0 copay, $0 deductible. Also free smartphone and plan (LifeLine). Home internet was free for a couple years but looks to be ending now. However Tennessee isn't a Medicaid expansion state so you would have to move to a more progressive state.
@deborahb.277
5 ай бұрын
Did you consider your state health insurance options? I looked at mine and they’re reasonable.
@jimmyolsenblues
5 ай бұрын
@@deborahb.277 no i didn't thank you for your suggestion
@kungdu
6 ай бұрын
With the age and money keep working for 3 years or go work a different line a work.
@elviegoodness
Ай бұрын
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
@Markphilip-r4i
Ай бұрын
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
@OakHarvestFinancialGroup
Ай бұрын
Glad you enjoyed it Elvie!
@skepticalmechanic
5 ай бұрын
Same old crap… one video after another on this… 👎🏻👎🏻👎🏻👎🏻
@OakHarvestFinancialGroup
5 ай бұрын
We're sorry you feel that way, @skepticalmechanic! Is there anything in particular as it relates to retirement planning that you'd like to see instead? Thanks for continuing to watch one video after another :)
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