It's empowering to know that planning isn't just about numbers but also about envisioning the kind of life I want to lead. Thank you for demystifying financial planning and making it feel accessible. This talk is a nudge for me to start taking active steps towards my future financial wellbeing. ❤

@financialrevolution1056

11 күн бұрын

Very much how my spouse and I felt after watching this. It’s the nudge we needed to start really thinking about our financial future.

To have a comfortable, secure and fun retirement, you need to build the financial cushion that will fund it all.

@theresaquiera7412

13 күн бұрын

The fun part is why it makes sense to pay attention to the serious and perhaps boring part while planning how you’ll get there.

@EricBrittonSilvado

13 күн бұрын

Retirement planning is a multistep process that evolves over time.

@durhammiller8817

13 күн бұрын

According to Timothy Eric Meek, As you save that money, you have to invest it to enable it to grow.

@rosannaconstil571

13 күн бұрын

Then you need to look at the types of retirement accounts that can help you raise the money to fund your future.

@christianrode8316

13 күн бұрын

How can i reach 'Timothy Eric Meek' please

I amassed a certain amount and I retired fully at 40. I don't have a ton, but enough to work with. Now at 51 I have seen the world and looking to downsize my house to a smaller townhouse or condo and enjoy what is left :) I roughly looked at my numbers but I handle my own finances and have done pretty okay. So not stressing about it too much. It is what is it :) . I don't have a pension, just some savings, a property and wherever SS ends up giving me

@financialrevolution1056

9 күн бұрын

I love how you first figured out what 'enough' means to you, then figured out the amount needed to support it! I’m inspired to take action in figuring out my own financial future. 👍

@sarahjohnstone9041

2 күн бұрын

Out of interest, what do you spend your time doing?

Extremely well delivered! Insightful, practical, and to the point! 💡👏

The only retirement I'm going to get is retiring to my room for the night so I can get up early for work the next day

@xdlpx

13 күн бұрын

No creo

@Azel247

13 күн бұрын

@@xdlpx gracias por tu confianza

I've been circling around the idea of retirement planning without really knowing how to approach it or how much I actually need to save for a comfortable life later on. Your discussion on balancing sufficiency with excess has given me a clearer vision on what 'enough' might look like for me. Thank you!

@sarahjohnstone9041

11 күн бұрын

Talk to a financial planner or coach? A second pair of eyes and accountability is worth a huge amount if it helps you to get everything in place!

@financialrevolution1056

11 күн бұрын

Great point @@sarahjohnstone9041 and certainly something that my spouse and I are now looking into!

Retirement is fast becoming as unrealistic as home ownership.

@rodolfowu4659

Сағат бұрын

Scary. In this Talk, this is materialized when he mentions that the 3.5k/month considers no significant housing expenses...

From experience, the hardest part of building up the million is the first 100k. Once you get to the first 100k, each subsequent 100k is much easier and faster because of the compounding effect. The way I got to the 100k was to break it up into 5 years and set myself a goal to save 20k each year. To many even that may be difficult, but it is doable if you are on a reasonable income and are willing to cut back on luxuries for five years.

@Gus-jm7de

2 күн бұрын

I completely agree! Breaking big goals into smaller, manageable steps is a smart strategy. It’s all about staying disciplined and making consistent efforts.

I love using the 4% Rule to calculate how much you need in retirement. It's simple, easy to understand, and quite the game changer for retirement.

@chucalissa9231

14 күн бұрын

Please share ? I like to know

@StayPositive050

14 күн бұрын

In your first year of retirement you can spend 4% of your retirement savings. Thereafter you can raise that by inflation. So $1M produces $40k the first year.

@dominic8218

14 күн бұрын

@@StayPositive050like this and is the basis of my own retirement. Like the 375 rule also as this includes an assumed tax rate 👍🏻 Just need to ensure I die before 85! 😂

@glennet9613

14 күн бұрын

Australian superannuation funds have a minimum withdrawal rate of 4% of the annual balance up to age 65 increasing by 1% a year every additional ten years of age. For example a 76 year old has to take at least 6% of the EOY balance.

@dominic8218

14 күн бұрын

@@glennet9613 in the UK, so didn’t realise the rules there. Appreciate your guidance and wish you well in your own journey 👍🏻

Amyr, sua apresentação é algo que vem para chacoalhar nossa situação enquanto residentes no UK. Algo para ajudarmos criando um alicerce para atingirmos o objetivo de £1.3 M. Fácil? Jamais. Porém possível, se começar no momento certo. Muito obrigado e parabéns.

I wanted to have one!!! A Very hard goal to accomplish 🙏🙏🙏

The 375 ignores the state pension, so you need less. Also factor for a 25% drop in expenses after 75. So this reduces what you need to save. How much do you need to pass on to children, if not much then you can eat into the capital and so reducing the amount needed to save. A good message that you need to save and in the most tax efficient way. But the figures quoted are excessive in my opinion. He is a finance person who will make a percentage on what you save so it's in his interest to get you to save more. I'm not saying don't save well into a pension but look deeper into this field to get a more realistic figure

@ivangohome

15 күн бұрын

he is promoting his planning firm using TED. smart.

I'm not sure but I just made a big batch of Chocolate Brownies.

The key to his planning that few even understand or plan for is Taxes! Taxes will eat your 401k and yes your SS will and can get taxed up to 85%. Taxes are the issue most everyone that not 70 now will have to face as a real issue beyond anything they have ever had to pay or deal with in this lifetime.

@SecondWindWorkshop

Күн бұрын

Just to be clear...Social Security isn't taxed at an 85% tax rate. Depending on the income calculation up to 85% of your Social Security benefit may be taxable. The tax rate you actually pay would be based on wherever you fall on the current progressive tax scheme. Nobody pays an 85% tax rate in the current scheme.

Learn a lot, Thank you prof

Very insightful 👍👍👍

£3500 with no rent or mortgage to pay? That's pretty darned comfortable!

@StayPositive050

14 күн бұрын

Make sure you’re including inflation. $3500 today will not be enough 20 years hence.

@rgraph

14 күн бұрын

@@StayPositive050 I'm not so sure. In 2004 - 20 years ago - I earnt just above 3500 per month. At the time it was a great wage. It still is today 20 years on. Maybe not *as* great, but still great!

@Azel247

13 күн бұрын

@@StayPositive050 The 4% rule, which this 375 rule is based on, adjusts for inflation. The ideal is you can take 4% out in your first year, and in the 2nd year you take 4% x inflation out the next year, and so on

@sarahjohnstone9041

11 күн бұрын

This talk was in London, so for a comfortable life for a couple, it doesn't sound ridiculous..

@OneAndOnlyMe

2 күн бұрын

Outside of expensive metro areas, like London, you can have a comfortable life on just £2,000 a month (if you outright own your home).Some people may not even need that much if their homes are small and use less energy, and if they don't own a car, etc.

What retirement?

Learn something from this lecture

Where does the 375 come from?

@Dheinamar

14 күн бұрын

30 years = 360 months + 4% margin on top

Read... Engineer your retirement. It's the book you need.

Good for improving english listening

Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them

@PaulaAdrian721

14 күн бұрын

People prefer to spend money on liabilities, Rather than investing in assets and be very profitable

@KathyJvanest

14 күн бұрын

Saving and investing wisely while prioritizing necessities and a few small luxuries in relation to one's total assets is a great approach. It helps ensure financial stability and I my for the enjoyment of life's little pleasures without compromising long-term financial goals. It's all about finding a balance that works for you!

@DaniCharney

14 күн бұрын

Thank you Angela Christine Derle for $60,000👍🏻. There are so many opportunities to make money here on KZread but most people don’t know. Thank you for continuing updates I'm favoured, $60,000 every two weeks ! I can now give back to the locals in my community and also support God's work and the church. God bless America

@BgRecords-od5yp

14 күн бұрын

Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.

@DaniCharney

14 күн бұрын

Thanks to my co-worker (Alex) who suggested Ms Angela Christine Derle

Does anyone else not really wanna know the answer to the question in the videos title? I'm guessing it's really subjective and almost none of us will ever have enough to retire with confidence

@wildfoodietours6702

14 күн бұрын

A simple way to figure out how much you need is to use the 4% Rule where you figure out your annual expenses and multiply that by 25. So if your annual expenses are $30k and you multiply that by 25, you get $750k where you can withdraw 4% of that each and every year pretty much to eternity (though it was originally made for a 30 year retirement). Just lower your annual expenses and be flexible, then you can retire much earlier and truly design your life.

Do it the other way. Divide your 401k by 375 and add to it your expected SS benefits. Then subtract say 1000 per person a month for medical expenses.

@onlyanaconda1947

5 сағат бұрын

That's an interesting thought process, and it's easy to discuss with friends over a beer and get people motivated to think about this stuff. 👍

👏🏻

Why 375? Sounds quite high - other financial advisers recommend 250-even while preserving the original sum in the portfolio … thx

@Gus-jm7de

5 сағат бұрын

If I want to withdraw £50,000 a year from my retirement savings, and that's 4% of my total savings, I can use a multiplier instead of dividing. The reciprocal of 4% is 25 (1 / 0.04 = 25). So, £50,000 times 25 equals £1,250,000. I think he calls it a rule of thumb, the 'Rule of 375', for monthly withdrawals. It's simple and considers a rough 20% tax, which is practical since I think about spending after taxes.

Haha retirement. I'll be lucky to live to see retirement at the rate they are pushing it back. And savings? My government is trying it's best to make sure i don't have any.

@sarahjohnstone9041

11 күн бұрын

I hear this all the time. State pension is only a portion of the income for most people, it's not a mandated retirement age - private pensions are accessible from quite a bit earlier!

skip to 9:30

what a fact

375 is 3.2% WR not 4%

@Gus-jm7de

5 сағат бұрын

Imagine you want to withdraw £50,000 each year from your retirement savings, and this amount represents 4% of your total savings. Instead of dividing, you can use a multiplier. The reciprocal of 4% (which is 0.04) is 25 (1 / 0.04 = 25). So, when you multiply £50,000 by 25, you get £1,250,000. The 'Rule of 375' seems to use the same idea but for monthly withdrawals and it also roughly considers a 20% tax.

We won't be able to retire lol

Lmao I laughed out loud at the title. Nice joke

Another formula, another same lecturers on saving, planning, thinking. Yet no one has done a talk on retirement planning for those who wish not to leave much (or to try to spend it all - as much as possible (or with as little savings left as possible). 1,312,500 will leave you with a lot of money left for others or those you leave behind ... :) Who has the formula where we can aim to spend it all (of course hard to predict how long one lives).

@onlyanaconda1947

3 күн бұрын

It's quite a challenge because so much depends on how your investments perform and how long you live.

@williamshelley3323

3 күн бұрын

The book, Die With Zero is an excellent read on this topic

@gnoekus

3 күн бұрын

@@williamshelley3323 Oh wow. Thanks for sharing!

@Gus-jm7de

2 күн бұрын

@@williamshelley3323 such a good resource, thank you!

@Gus-jm7de

2 күн бұрын

@@onlyanaconda1947 I think it’s tough to predict the exact amount you'll need because of all the moving parts in a financial plan, like investment returns, longevity, and inflation. What I took from this is that's why ongoing planning is crucial, just as the speaker suggests. Rather than a fixed formula, regular adjustments and planning help ensure you can enjoy your retirement without leaving too much behind if that's your ultimate goal.

3500 a month?.. hahahahha.. what are you spending 3500 in a month?. When you are old you only need a house and some books..

@sarahjohnstone9041

11 күн бұрын

All the cruises! And the cost of living, this talk was held in London remember..

@economicdevelopmentplannin8715

5 күн бұрын

Property taxes utilities groceries and an unlimited bus pass yearly per person is only 8k yearly per person typically Under 15k in NYC and LA. Key is to payoff your portion of housing ASAP. Everything else works out.❤

The world in which the 4% rule was working, does not exist anymore. Central banks money creation and Gov spending have led to an unstable financial system. Money creation (debt) is going exponentially, impossible to sustain. Gaining scarce assets is the only way to secure some sort of retirement income, but even that is no certainty. Better is to prepare to live on less, minimize your lifestyle needs. Happiness does not need to cost a lot.

@xdlpx

13 күн бұрын

Es mejor prevenir

He touched slightly on it (and I mean by only mentioning it by saying go talk to someone else...) but $3500 a month will get you just about nowhere in 30 years. I've talked to multiple bankers and financial people and they've all said right now if you want to retire 'comfortably' you should expect to need 5 million in the bank if you want to retire in 30 years.

$3,500 (minus your government pension / social security income) = $x,xxx * 375 = $xxx,xxx You can breath again and you are welcome.

@Gus-jm7de

5 сағат бұрын

Simples. 🙌

Spending profile over 30 years is not consistent

@Gus-jm7de

5 сағат бұрын

I agree, spending over 30 years isn't consistent. Many studies show a "retirement spending smile" effect in spending patterns. However, the speaker mentions this as a rule of thumb, so it's a good starting point to think about this important topic.

@onlyanaconda1947

5 сағат бұрын

@@Gus-jm7deJust got into a rabbit whole about retirement spending 😅 thanks for the tip and, I guess, as the speaker mentions, its a rule of thumb.

😂

I don't think that i will live that long enough, i assume.

@rui569

15 күн бұрын

Most people underestimates for how long they will live.

@vovantos

15 күн бұрын

what if you do ?

@ackimmichelo9234

14 күн бұрын

I'm rooting for you, you'll live long and a happy life❤

@Ferocious_Cat

14 күн бұрын

@@rui569 yes, always expect the unexpected.

@Ferocious_Cat

14 күн бұрын

@@vovantos I'll suffer more I guess.

I just realized that i will have to live on 567 usd a month😂😂😂😂

Hahhahahah

Buy bitcoin

Skip to 9:30 min. Self promoting lecture... bs

He speak and gestures like Obama

@Gus-jm7de

5 сағат бұрын

😂

@brenthazel

5 сағат бұрын

Good catch

i just wanna pirate loiter squad man tf is this

What a load of shite

@sarahjohnstone9041

11 күн бұрын

Why?

These rough times are EXACTLY the right times to be PROUDLY and unapologetically revolutionary.🌸☭🏴Ⓐ🏳️‍⚧️🏳️‍🌈🇵🇸🕊️