I have been so addicted to saving for my entire life. I know that retirement is coming soon, but it will be hard to make the decision to retire, when I think of how much I can leave to my heirs if I keep working.
@TdaddyRed
3 ай бұрын
Same here. Add in the fear of the unknown and it’s hard to walk away from “a few more years of saving”.
@Meadowlark57
3 ай бұрын
Leaving some assets to your heirs is fine but it's not totally necessary to leave a lot. If you want to help them out, give some now while they need it most and instill in them wisdom of how to handle what they have NOW. Did you receive a large inheritance? Aren't you doing fine without receiving a large inheritance (if you didn't)? As a retired couple, we received a very small inheritance (about $20k from one side and zero from the other side), and we are doing just fine--in fact, planning to leave to our own kids a fairly large (to us) amount. But, more importantly, we spend time and money NOW with them and on them. Relationship is much more important than money if you need to choose between the two. It depends on if you want your kids to have memories of you or your money; at least, that's the way we look at it.
@thomasmoshier3920
3 ай бұрын
I hear ya, brother. My last day is next week. Financially I’m more than fine. It’s a psychological barrier that’s so hard to overcome. You’ve been in this mindset for 35 years it’s hard to flip the switch.
@9999deoxys
3 ай бұрын
@@Meadowlark57 Awesome comment that hits home to me...THANK YOU!
@xlerb2286
3 ай бұрын
Speaking as someone that watched their parents not spend money on themselves that the could have and should have let your heirs live their own lives. If it happens there's something left for them, great, wonderful. But they're neither owed nor should they expect a fat inheritance.
@vernshird711
3 ай бұрын
I plan on living to age 101. When I pass, I'll have my last SS check in one hand and a tapioca pudding cup in the other.
@69camaro19
3 ай бұрын
LOL
@proprich5586
3 ай бұрын
Timely video for me! Looking at my savings, expenses and retirement income, assuming 2% return, 3.5% inflation and 2.5% COLA. My money runs out when I’m 125. Currently 60, planning to pull the cord at 62.
@swright5690
3 ай бұрын
It’s hard to stop, isn’t it?
@etiennedegaulle3817
3 ай бұрын
Casinos (and hedge fund managers?) rely on that.
@Knightday1973A
3 ай бұрын
Good point Josh. I like your videos. I have come to the same conclusion. Why risk my investments if I'll have enough with fixed income. Less risk, less stress. I also might not be able to depend on my future self to make good judgments on the stock market in any case Thanks.
@BSinNH
3 ай бұрын
Think about almost 5% just sitting in cash (Fidelity) and you have, oh let's say $1M in a ROTH. $50K a year with no tax. Plus SS. Why not? Stop trying to grab as much growth as possible. Live within your means (IE: no debt) and you will be amazed at how little you need.
@SecondWindWorkshop
3 ай бұрын
I play with my retirement models in Excel like this from time to time. It was like watching myself in Excel. Ha ha! Retired in December at 54/51 and we've built out a long range bridge to 59 1/2 and then to 62 with very little risk...keeping the retirement funds invested 70/30, but now that we have the non-retirement bridge funds we're not risking any of it. We won the game of being able to bow out of corporate life early, so we're resisting the urge to grow the bridge money and just let it do it's job.
@BrianDriesenga
3 ай бұрын
Double click on the little box in the lower left of the formula and it will copy all the way down.
@Robw1960
3 ай бұрын
An oldie but goodie. One of your best videos ever Josh!
@gcburkett
3 ай бұрын
I think this is a re-post from when rates where lower. Should be even more then case when you can get 4-5% on a bond ladder. I don't plan to eliminate stocks but going to reduce my exposure. I have been dropping my allocation as I am getting nearer retirement.
@tshay5112
3 ай бұрын
If I had a pension and social security (or just social security) that allows me to withdraw $5000 per year from other accounts (which is 416.66 per month to cover all expenses), I will never have to worry about money in retirement. I’ll be sleeping like a newborn baby. I’ll be happy to keep that money in a very safe investment.
@scottrichardson3961
3 ай бұрын
I won the game....FIRE (Financially Independent, Retired Early) u can too if you apply common sense and don't listen to all the so-called gurus.
@mlwhite300
3 ай бұрын
If you are doing something like this why not just buy an annuity?
@markritacco270
3 ай бұрын
If you are using bonds as a starting point for the calculation, you need to figure in the coupon rate for the semi-annual interest rate as well.
@rayanderson3164
3 ай бұрын
Pension and money but waiting on 55 next year for retiree medical, pension, and 401K access. 7 months to go!
@masterlee4370
3 ай бұрын
You should have given that advice to Joe "If you won the game stop playing"
@garth217
2 ай бұрын
Or Donald
@timothykeith1367
3 ай бұрын
I've been riding a bike for the past month, not only do I not buy gasoline, but I have only spent $550 this month + plus unrealized prop tax. It changed my spending habits - for now. I have some deferred spending, but for now if it doesn't fit in my backpack I don't buy it.
@HB-yq8gy
3 ай бұрын
My wife and I are 60 y/o that's why we are claiming SS 62 y/o because she has breast cancer and my pension is affected by WEP & GPO! Then start spending down to get close to only pension, SS, house, car, cash, and minimum about in checking account.
@risingphoenixbronco5328
3 ай бұрын
Everyone seems to believe they will be the outlier. Call it American Exceptionalism. My Aunt passed at 63 after a lifetime of healthy living. Collected 3 SSA checks and million+ in assets.
@cutehumor
3 ай бұрын
I see the I’m going to live to 95 bc my dad lived that long 😂
@Robw1960
3 ай бұрын
Definitely. I’ve had 2 very healthy friends die in their 50’s.
@risingphoenixbronco5328
3 ай бұрын
@@cutehumor Very fortunate. My dad passed at 72. Grandpas at 58 and 84. Grandmamas at 92 & 98. So who knows? Really?
@TheDealHunter
3 ай бұрын
30 year TIPS are yielding 2.15. That would even be better as they will also keep up with inflation. I'd build a 30 year TIPS ladder and be done with it.
@MOREFinancialGroupLLC
3 ай бұрын
Theres some 10yr MYGA"s paying interest around 5.5% and can be structured to pay interest monthly. Just a thought. TIPS are also a great option as MYGA's don't adjust for inflation and only guarantee interest out to 10yrs
@billcarlson1730
3 ай бұрын
You understand inflation is really 9% at best don't you?
@bruced.370
3 ай бұрын
@@billcarlson1730 this is an old video, btw
@billcarlson1730
3 ай бұрын
@@bruced.370 Real inflation was 9% then and is 9% now. any investment that does not bring in at least 9% does not keep up with inflation.
@mooring10
3 ай бұрын
Interesting question I have asked myself often lately. Retired for 5 years now, trying to figure out how much to spend to die with $0. Large nest egg in IRA, so trying to plan for taxes on RMDs. My spreadsheet is a little more complex, but seems I have enough so why not pull out of the market and go to no penalty CDs with all of it?
@cutehumor
3 ай бұрын
Did you watch the debate?? It was very entertaining 😂
@bruced.370
3 ай бұрын
Did you hear Trump say " I don't know ask Brandon? Lol 🤣
@goldstandardaviation1667
3 ай бұрын
My uncle is 91. Im planning for a long life
@scottrichardson3961
3 ай бұрын
U ARE NOT your uncle lol
@markkeller9378
3 ай бұрын
Josh, you used long term treasuries at 1.5%? 20 year treasury bond os paying 4.5%? Did I misunderstand?
@JThomas4793
3 ай бұрын
This is a old video. Doesn't bother to mention it!
@barrydoty696
3 ай бұрын
@@JThomas4793Says it's it was just uploaded 2 hours ago
@sls-oe7tf
3 ай бұрын
Instead of 2%, buy an annuity and triple your income and never run out of money.
@billcarlson1730
3 ай бұрын
I have won the game. But winning more at 65 years old feels so good. Winning with VGT, SOXX and SMH. Get Some folks!
@cutehumor
3 ай бұрын
I agree. You won the game at your age. Your investing for your heirs
@MariaLarsen09
3 ай бұрын
Very nice
@MariaLarsen09
3 ай бұрын
Thanks for sharing this
@MariaLarsen09
3 ай бұрын
- this is an amazing video. More people of the younger generations need to watch this. I’m and trying to learn all this and this is the first video that’s actually helped me.
@MariaLarsen09
3 ай бұрын
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
@MariaLarsen09
3 ай бұрын
But however, Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Stocks like Nvidia stocks and of course AI stocks that will align with my risk tolerance and financial goals but it seem to be bearish right now.
@MariaLarsen09
3 ай бұрын
@ZacharyJones-xr8og YES absolutely , A lot of folks downplay the role of advisors until theyre being burnt by their own emotions. I remember couple summers back, after my lengthy setbacks, I needed a good boost to help my business stay afloat
@kevinfestner6126
3 ай бұрын
Begs the question, how do I know I've won?
@TdaddyRed
3 ай бұрын
You pay folks like Josh, I suppose, for the peace of mind.
@rayanderson3164
3 ай бұрын
Candidly, you either really know or you're never sure. I would say that if you can cover your expenses and can see that happening for at least 25 years then I think you are there. -Just my 2 cents.
@kevinfestner6126
3 ай бұрын
@@rayanderson3164 i think my retirement number is between 880,500 and 925,00. May as go for the million. Needs with insurance not considering SS, is 38000 per year.
Пікірлер: 69