We experienced the peak of our era, and now it is gone. Recession is tanking everything including 401K. My retirement equities portfolio of $750K is in the reds. I keep losing because of inflation. This world will fall to the corrupt rulers in the same way that Rome did. I'm sorry if you're thinking about retiring and you're worried that your pension won't be enough to meet the rising cost of living. Horrible foreign policies everywhere, bad regulatory policy, bad fiscal policy, and bad energy policy.

@Pamela.jess.245

2 ай бұрын

For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.

@PatrickFitzgerald-cx6io

2 ай бұрын

I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?

@NicholasHarmon-ow3jl

2 ай бұрын

After the pandemic, things became extremely difficult, which is precisely when I sought a Financial advisor. I've been investing with the help of my FA for nearly 3 years and have built up a stagnant reserve of $280K to $570K in just over 24 months.

@KaurKhangura

2 ай бұрын

I’m in dire need of guidance so i can salvage my portfolio due to the massive dips and come up with better strategies. How can I reach this advisor?

@NicholasHarmon-ow3jl

2 ай бұрын

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

It's surprising to hear that retirement is so difficult given how many articles get shoved in my face about some 20-year-old who just retired. And all it took for them to do so was a modest loan of $200,000 from their parents and ownership of a New York City apartment building which they rent out for more per month than their parents paid for it thirty years ago. I asked my parents for the same thing; I'm just waiting for them to stop laughing so I can hear their answer.

@Dhumm81

2 жыл бұрын

It's easy, actually. Like the wise professor once said, all one needs to do is study, work hard, apply oneself, and have the determination, intelligence, and foresight to be born to wealthy parents. And as long as one nails that last bit, they can confidently discard all the rest.

@keropi193

2 жыл бұрын

They're laughing because you have the wrong attitude. If you just hustle, make a blog, and stop drinking lattes, you can manifest success. Personally I manifest this by voting against my own interests. That way when I become a billionaire, I won't get taxed too much.

@Astillion

2 жыл бұрын

You actually CAN retire early if you really work for it. In your 20's is unlikely, but in your 30's or 40's is certainly very attainable without getting a large loan from rich parents. I never got any money from my parents and I retired last year at 37 (my mother is still working). I simply lived far below my means, saved and invested. I am far from a millionaire, but I get by by living a frugal lifestyle. I value my time much more than money, and I've prioritized becoming free from the need to work. What's keeping a lot of people from retiring early is the belief that it can't be done. It can be done. With that said, the current system is built on exploitation, and we're not meant to figure out how to cheat the system. If everyone did what I've done, the system would collapse. Which I don't view as a bad thing.

@kaitlyn6853

2 жыл бұрын

@@keropi193 The hustle is morally wrong by taking advantage of the less advantaged.

@keropi193

2 жыл бұрын

@@kaitlyn6853 I was joking. I don't suggest anyone vote against their interests or use "become the next elon musk" as their life plan haha :)

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

@TheJackCain-84

6 ай 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.

@martingiavarini

6 ай бұрын

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

@bob.weaver72

6 ай бұрын

Mind if I ask you to recommend this particular coach you using their service?

@martingiavarini

6 ай бұрын

'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

@bob.weaver72

6 ай бұрын

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

@Danielchirs

3 күн бұрын

There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist

@doran-f6w

3 күн бұрын

I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders

@vickylarue

3 күн бұрын

Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.

@doran-f6w

3 күн бұрын

NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

@vickylarue

3 күн бұрын

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

"The poorer you are, the earlier you are likely to die." Damn, things are looking up

@duancoviero9759

2 жыл бұрын

I said the same thing 😅.

@1MarkKeller

2 жыл бұрын

Same, sadly.

@WhiteFang111

2 жыл бұрын

The poorer you are the more you are screwed.

@nasis18

2 жыл бұрын

Don't tease me with a good time.

@nasis18

2 жыл бұрын

@Russ Ingram I feel ya bro. I'm too much of a coward to do it 😅

"Poor people should just save money". Well, there goes the economy. (The economy relies on people spending money.)

@MrKongatthegates

2 жыл бұрын

Poor people bid against each other, driving up the rent. Most poor people have next to nothing but still don’t get enough pay to cover their lifestyle. Many of these people need roomates

@WilliamMcAdams

2 жыл бұрын

The economy relies on poor people spending money, so that corporate leaders have more money to throw around with their buddies in the stock market. It wouldn't be so bad, if our corporate overlords actually put money back into the system; but entirely too much gets caught up in assets, stocks, and inside trades. Every dollar you spend, X% of that dollar will *never* be in circulation again.

@jake.klusewitz

2 жыл бұрын

Really interesting point!

@truemendus

2 жыл бұрын

Rich people automatically save more money coz they cant spend as much as they generate. So there is more money saved by rich people than there will be ever money saved by the poor. After necessities the poor have nothing or less to save.

@greenearthblueskies8556

2 жыл бұрын

@@MrKongatthegates 💯

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

@martingiavarini

8 ай бұрын

Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.

@bob.weaver72

8 ай бұрын

Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.

@hermanramos7092

8 ай бұрын

That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

@bob.weaver72

8 ай бұрын

My Financial adviser is ‘’'Natalie Lynn Fisk ’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. 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

@hermanramos7092

8 ай бұрын

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

I live in Denmark. With current policies, my retirement age is 72, and the public pension that I'd get would be juuuust enough to scrape by (assuming the programme isn't gutted even more). Because of the work that I do, and my current health, I do not expect to live to be 72. I will likely be working until the day I die. Just to pull the curtain for anyone who still believes that Denmark is a fantastic and socialist nation. Social Democracy IS NOT Socialism. Capitalism is slowly chipping away at our freedoms here too. Get organized. Now.

@ama3583

2 жыл бұрын

So it's just capitalism on welfare?

@matrixfull

2 жыл бұрын

I'm not from Denmark but yea no country is perfect but if I had to choose I'd still choose to live in Denmark over most of other countriess of this planet. That being said I'm sorry to hear about your job related health concerns and you're right. Danish people too must fight to get things improved. It's not good enough. There should be lower retirement age for jobs that have higher health risks attached. There is no way that society can't afford lower retirement ages assuming that wealth that's been generated is distributed the right way. Wealth that we normal average workers generate for our company and our bosses.

@themind804

2 жыл бұрын

Thank you for saying what really needs to be said.

@themind804

2 жыл бұрын

@@matrixfull Ok, and I would not because it's notoriously racist and it thrives on exploitation of the global south (social imperialism). Of course, that's a critique of the current Danish state, which can obviously change.

@quinnrosenvold8236

2 жыл бұрын

@@themind804 Exactly. This place used to be a more humanitarian place, where we condemned the endless wars and were critical of neoliberal institutions. Now, Denmark is one of the biggest proponents of Frontex...

My Grandmother celebrated her 75th birthday in December, but she still works 3 days a week to make additional money alongside her Medicare and Social Security benefits. Edit/Update to address a few replies to my comment: My Grandmother works as a receptionist so it's nothing too physical for her and she likes the work, and she used to work full time but she just works part time. My Grandfather is 82 and has been retired for a while and he also is on Medicare and Social Security, she just likes to have extra money if they go on a trip or to give to my mom, my sister, and I if we need some. And as she has told me, the problem with retirement is you can only do so much at home before it gets boring and she gets along with the people she works with hence why she doesn't want to leave for good.

@raymundogonzalez6450

2 жыл бұрын

Welcome to uncontrolled Capitalism!! ( By the way still People think is Great!!)

@someguynamedsteve203

2 жыл бұрын

@@raymundogonzalez6450 just captialism in general

@gehtdichnixan446

2 жыл бұрын

We have to change this cruel system !

@NotShowingOff

2 жыл бұрын

@@raymundogonzalez6450 this really depends on her job

@raymundogonzalez6450

2 жыл бұрын

@@NotShowingOff the video is talking about the general Population not the exception.

I had a spinal cord injury at my job, a metal staircase in a 100 year old elementary school collapsed under me... 2 years shy of qualifying for a pension right before my 50th birthday. Because they offered workmans comp I couldn't sue them for unsafe working conditions...if a child fell they would have been able to sue for millions. I ended up getting 2 years of pay, paid out over 4 years and am still fighting disability to approve me. No one cares. If I got it in 1 lump amount I might have been able to invest in a rental property or something. I am 55, can't do shit and when I run out of money for pain management that I am paying for, I guess I get to kill myself. So much for the American dream.

@Excalibur2

Жыл бұрын

Do you get a payout instead of a pension then? Might be worth trying to invest that and look for work from home jobs. They probably won't pay great, but it's something. Eventually, they should give you disability, hopefully.

@alpeshmittal3779

Жыл бұрын

Things would get better for you don't loose hope!

@ogami1972

Жыл бұрын

Hey, you're just like me! God Bless America, right?

@nessasue5046

Жыл бұрын

You are not alone. It really sucks.

@jamesgreen5298

Жыл бұрын

Remember to make your end a messy one that is a problem for someone important. Maybe drop a manifesto and paint the steps of congress with yourself. Earn a ticket to Valhalla and send a message to the people responsible for screwing this country.

LOL! I'm 69 and found ALL your videos (and not by mistake). Retired for 13 years now with little Social Security but lucky to have Medicare. My retirement system has decreased the medical benefits drastically in the last 5 years. People today have NO IDEA how important the Unions are to THEM and I'm glad you highlighted it.

@astrataway7077

2 жыл бұрын

I've been trying to tell my entire family this for a long time. I even make myself look like an idiot by overlooking well paying jobs in favor of any job with an established strong Union. I'm in Chicago and the temp agencies have taken over in a bad way. We are the railroad hub of America, the warehouse hub and the temp agency hub. There are no workers rights in this city.

@steveng7174

2 жыл бұрын

Being a member of the Teamsters in the 80s was one of the worst experiences in my adult life. The Unions of the 21st century are a scourge to say the least. Let's start with 14 trillion in underfunded retirement accounts. Say what you will about Trump, but his policies rocked my portfolio. Comfortably retired at 62.

@dziankolack9331

2 жыл бұрын

@@steveng7174 can you elaborate on this a little bit?

@steveng7174

2 жыл бұрын

@@dziankolack9331 It goes without saying that bailing out bad actors is not equitable. So, it’s no wonder the Biden administration left any mention of a nearly $100 billion selective bailout of private union pension plans out of its “Advancing Equity Through the American Rescue Plan” report. To date, 37 multiemployer pension plans have requested between $4 million and $35 billion each, with 25 of those plans already approved to receive $6.5 billion of an estimated $97 billion in taxpayer money. These never-before in U.S. history, no-strings-attached taxpayer bailouts of private multiemployer or union pension plans are part of the American Rescue Plan-despite the fact that this decades long problem has nothing to do with COVID-19. Prior to the pandemic, multiemployer plans had accumulated $757 billion in unfunded pension promises, and were on track to collectively pay out only 42 cents on the dollar in promised benefits. Now, they’re on track to pay out even less, with taxpayers guaranteeing that 100% of whatever certain union pension plans promise will be delivered-at least through 2051. Should we address the teachers union saga?

@Excalibur2

Жыл бұрын

@@steveng7174 i can't speak for all teachers unions, but the one in my state appears to be almost entirely funded with teacher contributions, and that pension effectively replaced social security. It would be better to hammer on the gov pensions that allow people to collect multiple pensions and SS, or at least start looking to put a cap on how much they can earn.

Retirees facing financial challenges often couldn't save enough during their working years. Retirement decisions play a pivotal role. Despite my parents having similar years in civil service, my mom invested with a wealth manager, while my dad relied on his 401(k). As a result, my mom retired with approximately 3.7 million, whereas my dad retired with around 1.4 million

@Rodxmirixm

9 ай бұрын

Yes, it's true. In my mid-50s now, my wife and I were on a similar path. In the last two years, I switched to her wealth manager. While I haven't matched her long-term profits, I'm earning more. I'm making money even before retiring, and my retirement fund has grown significantly compared to relying solely on the 401(k).

@VickyAlvy

9 ай бұрын

I believe it's something I should pursue, but I've been procrastinating for a while. I'm uncertain about which firm to choose; they all seem similar to me.

@stevevalkos6308

7 ай бұрын

sure, bro

I'm in my 40s and have been told by many people that I shouldn't expect to be able to depend on Social Security when I retire. This, along with everything else that has been happening over the last 20 years makes me think that we're all totally f'ed.

@mekannatarry1929

2 жыл бұрын

Unless the fight finally begins, I'm simply waiting. :)

@doggonemess1

Жыл бұрын

@@mediabiassucks1803 No 401k - I get a state pension when I retire. Not complaining about that, as long as it doesn't go away.

@avamasquerade

Жыл бұрын

We're not fked, you're just being conditioned to accept that we are.

@dannyschwertner7785

Жыл бұрын

Yup...if you wait on the government it's a 100% chance. No calvary is coming. It's all up to the individual to make wise choices.

@dannyschwertner7785

Жыл бұрын

@@mekannatarry1929 One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. George Orwell

"It's a lot harder to leave [your job] when not only your salary, but also your retirement is on the line." Let's not forget health insurance. That's the other primary vehicle corporations use to keep people wage slaves.

@patriley2607

2 жыл бұрын

Credit debt keeps you from saving wages are kept low, and prices high as the Elites withhold food and medicine for themselves.

@Vkpz

2 жыл бұрын

Gotta love the freedom of choosing between being a working slave for the rest of your life, or dying on the streets! 🇺🇲🇺🇲

@djnightstep8066

2 жыл бұрын

I worked with an elderly old man struggling with diabetes while working full time. The reason he didn’t retire when he “could” was because his wife would loose health insurance

@donaldlyons17

2 жыл бұрын

As long as your income is higher than you expenses it seems like you could pay to change jobs.

@BoleDaPole

2 жыл бұрын

Yet most corporations champion free Healthcare, because it will transfer billions into thier pockets.

It's recommended to save at least 15% 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 15% 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. I retired with about $650k in my 401k.

@MIchaelGuzman737

Жыл бұрын

People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.

@Ammo-Hoarder

Жыл бұрын

@@MIchaelGuzman737 I completely agree; I am 66 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, i didn't achieve all this on my own, i did it with the help of a Financial advisor. Just do your due diligence to identify a fiduciary one and the rest is history.

@CynthiaByrd648

Жыл бұрын

@@Ammo-Hoarder This is exactly how i wish to get my finances coordinated ahead or retirement. Can you recommend the financial advisor you used to get ahead?

@Ammo-Hoarder

Жыл бұрын

Do your due diligence, and be on the lookout for one with strategies to help your portfolio maintain an unwavering and progressive growth. "Jill Marie Carroll" is responsible for my portfolio success, and I believe she has the qualifications & expertise to meet your goals.

@CynthiaByrd648

Жыл бұрын

@@Ammo-Hoarder This is useful information; I copied her full name and pasted it into my browser; her website popped up immediately and her qualifications are excellent; thanks for sharing.

My 63 year old mom just retired from a public sector unionized job with a pension and health insurance. This should be the norm, not a flex. (Side note, she's looking for part time work to supplement her pension.)

@didforlove

2 жыл бұрын

yeah inflation and inequality are out of controll

Interesting how only wealthy people like Mitt Romney are so determined to push Social Security back considering he's already Billionaire. Must be a case of I have mine, I don't want you to have at all?

@Praisethesunson

2 жыл бұрын

It's a case of they have the ill gotten wealth stolen from you. But you still have something left that they want to take. That sweet pot of SS money can be taken by capital funds to gamble with, if it weren't for you pesky workers demanding that money not be stolen by the already rich.

@KeepItSimpleSailor

2 жыл бұрын

Politicians work for those in power, not for the nation or it’s citizens. Sorry to sound cynical, but the global sellout by politicians of all brands have become traitors to their own national interests.

@Praisethesunson

2 жыл бұрын

@@KeepItSimpleSailor Politicians are in power. It's governmental power instead of private economic power. But it's still power.

@pickywolf2728

2 жыл бұрын

@@Praisethesunson IT IS PRIVATE CORPORATE POWER. U.S is a big corporation owned by the small rich people. Banksters like JP Morgan or Citigroup (to name just those) actually own the dollar 💵. All the U.S Presidents are wealthy. Never seen a president coming from the bottom of the shitty pyramid.

@kestutisvedegys7820

2 жыл бұрын

@@Praisethesunson Statistic shows that government is not in power 5% of population is private companies are in power and they dictate everything

My grandmother is 82, she still works in the same bakery that she’s worked in for over 30 years. She can’t retire because she won’t be able to afford her rent, and she can’t apply for affordable housing until she stops working. Even if she could apply for affordable housing right now, housing authorities in our area have waitlists that are 3-10 years long. Not a great prospect for an 82 year old woman. My mom and I are doing what we can to help her prepare, we’re looking for two bedroom apartments for her and my mother to share, but they will still have difficulty affording their rent. We’re very worried and stressed.

@last_samurai6690

Жыл бұрын

The majority of people around the world do NOT have the luxury of stopping working just because they have reached a certain age.

@bangbangfukanawa6951

Жыл бұрын

@@last_samurai6690 Right, it’s terrible. They expect us to struggle endlessly, live in debt, live paycheck to paycheck. They want us to work until we die, and for 1970s wages. It’s horrifying.

@Wanderer2035

2 ай бұрын

@@last_samurai6690that doesn’t make that okay

Your channel is really depressive and never fails to put me in a bad mood. And i love it

@thecrystalraine

Жыл бұрын

Me too :)

@AlexandraNevermind

Жыл бұрын

Yup, glutton for punishment here. Kick me, beat me, it hurts so good.

@vinayj1763

Жыл бұрын

Truth hurts 🤕

Trigger warning (suicide, overdose crisis discussion): This topic ties in deeply and brutally with the fentanyl crisis in North America, and I say that from personal experience. When you *know* you will be working in poverty and loneliness in a society eager to profit from your incarceration, make sleeping in your car the only possibly "affordable" form of housing, render the prospect of having a family a historical memory as distant and quaint as the idea of owning your own home and in a million other ways contribute to the mass throwing away of millions of people into the surplus population of homeless subhumans they now experiment with using robots to police and abuse... when these are your prospects for the future not only does the warm, numbing euphoria of fentanyl become appealing, so does the knowledge that you will die painlessly one night while passed out not knowing what happened. Any user who has had an OD and been narcanned knows exactly what is waiting for them when this addiction finally takes them and in comparison to the abusive horror show that is growing old in poverty, dying of what is essentially a medical self-euthanization honestly seems far more humane and palatable. The thing that really kills me, no pun intended, is that the rich know this. They know they've beaten us to such a humiliating extent that they have actually gotten us to remove ourselves from the population for them, like some sort of sick voluntary eugenics program. They want us dead and they have made a world in which we can't help but wanting to die, or at the very least being so desperate for some reprieve from the march towards a dark future that we know has no place for us that we will knowingly risk death just for a bit of empty pleasure in substitution for the false hope we no longer have. Of one thing I have never been more certain: hell is all on this side of the grave. Good video btw Second Thought. Great content as always comrade.

@wallaceahtone6149

2 жыл бұрын

I hope alot of alot of eyes see your post, because a whole lot of people; espeacially, young people have their head where the sun never shines! Distraction from real issues and a very shallow way seeing life are major contributors of all of this as well. I feel like Alexander Solzhenitsyn in the Gulag Archipelago (I don't think the USSR was a real communist country, BTW) when he lamented that we deserve this for our inaction and cowardly fear of the system. I have no doubt that the drug culture was implemented and promoted to dull down into a stupor the common people. If you look at who dies of fentanyl, it's primarily younger males, the same people who could stand up and say enough is enough. In the end we have to shake fear, because if we don't it's going to be a slow lingering death for us, but if we ever smarten up, we will realize there is nothing to fear, but fear itself! Thank you for this comment and I hope people think about it.

@hejiranyc

2 жыл бұрын

For fuck sake, get help. Quit obsessing over what other people have; fixate on your own situation and what you can do to improve your own circumstances. Nothing is owed to you. Your paranoid rant is tiring and boring; nobody believes this crap. There is medication to treat your delusion.

@justcommenting4981

2 жыл бұрын

Comment boost. Cruelty is the method of harvesting human misery. It's on purpose and they know.

@user-zy4wv7yx1z

2 жыл бұрын

Hard to read but very well put

@1MarkKeller

2 жыл бұрын

Couldn't have said it better, as I was thinking about posting my thought/prediction that we will see an exponential rise in suicides as more people begin to see that there isn't a light at the end of the tunnel they're in, it's more likely muzzle flashes from people giving up in disgust.

"Some of those people who depend on Social Security to live never even make it to that age" and that is the exact point. The rich and powerful don't want the "Poor" in Merica to get A-N-Y help, from anywhere, not even when THEY PAID FOR IT IN ADVANCE.

@nickthompson1812

2 жыл бұрын

Yep. That’s why there’s a cap on how much you must pay into social security per year.

@justcommenting4981

2 жыл бұрын

@@RIPKabosu2000 WE DO NOT ENDORSE VIOLENCE AGAINST PEOPLE, PROPERTY, OR REPTILIANS. WE RESPECT THE GOVERNMENT AND ESPECIALLY FBI. COINTELPRO WAS A COOL AND GOOD OPERATION.

@BagOfMagicFood

2 жыл бұрын

@@justcommenting4981 Sometimes you have to eat the rich, one way or another

@-whackd

2 жыл бұрын

They didn't pay for it. The whole system is mathematically upside down, there are just IOU's there, the expectation is that the younger (smaller in population size) generation will work their hands to the bone to pay for these selfish old parasites.

@MoireFly

2 жыл бұрын

I mean, when the social security act was passed in 1935 that would have been true too: life expectancy was just shy of 61 years; it's now almost 79 years. You might say: but much of that was surely child mortality. And that's true; but even accounting for that by looking at life-expectancy at age 10, you'd see that a 10 year old was expected to reach 67 years of age; now that's 81 years. Any way you slice it, the proportion of people in retirement in relation to those in work has increased _dramatically._ While it's fair to ask the excessively wealthy to pitch in and help pay for some of that, I'm not sure that's going to be enough to solve this imbalance - and that's if we even manage that. But it's certainly not insane to scale retirement age at least somewhat with life-expectancy so as to limit the proportion of retiree's vs. the working population. Part of the problem here is perhaps that our expectations of working life aren't compatible with old age. We tend to expect promotions and pay rises; but to make a higher retirement age more tenable, perhaps we should be looking at partial retirement; a reduction in working hours and wage, compensated by partial benefits, that gradually transition into complete retirement - but that's just not compatible with today's working culture. Whatever the case, blaming "the rich" for being stingy may be fair, but blaming them for the very slight increase in retirement age and aiming to retain the 65 year retirement age (or 67 for that matter) strikes me as being a little more questionable. If anything, retirement age should rise significantly _now._ It's hardly reasonable for today's working population to need to pay for the exceptionally wealthy (and large) baby boomer group, especially since they won't be able to have the boomer's advantages; neither when finding a great career, nor when it comes to retirement benefits. Unfortunately that would hit today's elderly poor hard, but that's due to our terrible social safety net - it shouldn't be necessary to be retired to get benefits.

I cashed out my 401(k) in early March and paid off all our debts and taxes. The part of the video that really resonates with me is that at 42 I've been to 6 funerals already of older friends and family members who never got a minute of retirement, I saw my uncle who basically was my fucking idol when I was a kid die at 60 of cancer before he really got to live his life for him and his family. I feel like I sold my future for today and I'm kinda scared. I graduated college after 9/11 and was talked out of the military by another student who was older and on the GI bill (btw I know its unlikely but damn, Chris Chaffee if you ever see this, you prob kept me from getting shot in the desert), I couldn't afford law school so I went to work in a union factory. I'm literally a third generation union member. I feel so fortunate compared to people younger then myself because I can see the difference between what my grandma made (which was like, omg a ton in 1950) compared to what my father had in benefits and pay when I was a kid (which btw he made per hour in 1980 what I made in 2011). For what its worth I have to mention that unions can do a lot, but when companies get rid of positions to save money they play the long game. When I started working in 2003 we had about 140 people on the floor, when I quit (i would have rage quit, but instead I sorta walked out and took care of my resignation letter and separation paperwork at home. I'll never step foot in that plant ever again) we had about 80-90 people and of course we produced more and took care of more and more managerial tasks over the years without the pay bump. I really feel guilty complaining but at the same time my wife and I have both worked between 50-70 hours a week since we were in our early 20s. We both make (in my case made) more then the median income for my area in western New York state, no kids and a somewhat reasonably smallish house that I bought in 2005 for 85k. I really have no idea how my friends with children manage now, I'm really worried for kids born today with the lack of attainable opportunities I've seen with my own eyes in my lifetime.

@greatesttoysevermade3693

2 жыл бұрын

Spot on! Great comment!

@I_am_somebody_1234

2 жыл бұрын

1. Yeah, most Americans nowadays fear that whatever children they bring to this world will not have a nice future because the "land of opportunities" suddenly is running short of it. 2. Im so sorry for your uncle, dying at 60-64 y/o hurts specially bad because (even though you dont actually retire at that age anymore) its like if you didnt got to be a senior citizen. 3. Even though not everyone had a good time back in the day (jim crow for example), its astonishing that many people nowadays are earning a fraction of what their grandparents earned back in the day, even with a similar job; and thanks to how retirement works, this also affects how their lives will be as soon as they cross 65.

@HughJass-jv2lt

2 жыл бұрын

🤣🤣 Crazy you were gonna join the Military. Even CRAZIER that you were somehow talked OUT of it. You are truly Blessed! ❤❤

@melelconquistador

2 жыл бұрын

let's burn it down

@SgtCarter69

2 жыл бұрын

Median income in your area is 67k$, taxes and energy bill amount to what % of that. Do you have a relatively new financed car and is it compact or more SUV like ? Just trying to understand well...my mother at 61 yo makes the same amount, just went through bankruptcy in 2016 and is saving for her retirement at 67 and a small used car...commuting by bus takes 2hrs each day so, worth it.

THANKS. Just what I needed to watch. My husband and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 52, my husband is 55. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.

@MIchaelGuzman737

Жыл бұрын

Consider financial planning.

@sommersalt88

Жыл бұрын

It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing.

@Americanpatriot723

Жыл бұрын

I completely agree; I'm 60 and recently retired with roughly 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds compared to my portfolio balance over the last three years. To be honest, the role of the invt-advisor can only be ignored, not denied. So do your homework to choose a reliable one.

@something1600

Жыл бұрын

Shut up bots and your capitalist propaganda.

@something1600

Жыл бұрын

I cannot believe that these capitalist investment scam bots are commenting on one of the biggest communist KZread channels. smh.

As someone who lives paycheck to paycheck in the service industry, it's always frustrating to hear people tell me to "just save". Save what? If I'm lucky I'll have maybe 100 dollars left by the next pay period if I deny myself anything outside of boxed Kraft Dinner and Mr Noodles to eat, don't go out, don't have a drink to socialize, and don't run into an unexpected expense. I've had savings in the past, through stark moves in my lifestyle, only to have them wiped away by emergencies every time.

Sadness achieved in late stage capitalism

@lets_see_777

2 жыл бұрын

Achievement Unlocked: Lose All Hope

@TheOnlyCaprisun

2 жыл бұрын

Achievement Unlocked: Sober up!

@AMG-BENZ-1

2 жыл бұрын

Americans have been suckered into believing capitalism was the best thing for the vast majority. Truth is that it strictly caters to the few who end up taking advantage of the system while investing in the systemic brainwashing of the average Joe.

@ti-lo5hy

2 жыл бұрын

Optimum sadness

@OrdigTroll

2 жыл бұрын

Woah woah woah, you all think these achievements are free? I'm going to need you to shell out 11.99 for the Ennui DLC.

Retirement is going to become a luxury for the ultra wealthy at least in the US.

@xxcrysad3000xx

2 жыл бұрын

The problem is by the time we're all 65+, our labor just isn't worth that much. Skillsets depreciate, cognition declines, your body slows down... Employers literally don't want old people, they consider them liabilities. To the extent they hire them at all, it's more of a charity case than a profitable hire. It's disgusting but that's the way these corporations think.

@andrewsmith8715

2 жыл бұрын

@@xxcrysad3000xx Absolutely this is why we need to ensure that social security is protected and expanded upon.

@Praisethesunson

2 жыл бұрын

@@xxcrysad3000xx Lol that's funny to say since the people who run your entire life(corporate boards, governments, etc) are all filled with octogenarians.

@RedScareClair

2 жыл бұрын

But they don't do physical labor so many of them don't actually retire

@dingfeldersmurfalot4560

2 жыл бұрын

@@xxcrysad3000xx Highly variable. People like doctors, nurses, lawyers, and psychologists and teachers can remain very good at their jobs well into their senior years. People who have to lift things are going to have a far more difficult time.

I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45.

@Harperrr.99

Жыл бұрын

Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving

@user-3456rtu

Жыл бұрын

@@Harperrr.99 A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.

@MiikeFaber

Жыл бұрын

@@user-3456rtu Over the following 3 months, I want to increase my reserve from $280,000 to at least $550,000. I would be grateful for any advice you can give on how to accurately predict the market and how to diversify and balance my portfolio in order to accomplish my goal.

@user-3456rtu

Жыл бұрын

@@MiikeFaber Sure. NICOLE DESIREE SIMON, a well-known person in her field, is my advisor. I got to know her through my wife. It's my wife that has her number, but you could further investigate her credentials and contact her yourself.

@MiikeFaber

Жыл бұрын

@@user-3456rtu Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

"It's easier to imagine the end of the world than the end of capitalism". Damn. Truer words were never spoken.

Not in this country where corporations rule we might as well call this country "THE UNITED CORPORATIONS OF AMERICA" at this point.

@raymundogonzalez6450

2 жыл бұрын

Brilliand slogan👍👏👏

@TheModdedwarfare3

2 жыл бұрын

The United like 2 Corporations of America. Actually never mind, Disney bought the other one. USA is just called Disney now.

@Cub__

2 жыл бұрын

So what's your solution to change that eh?

@18booma

2 жыл бұрын

TUCA for short. Terrible system but cool name.

@AnthonyMcqueen1987

2 жыл бұрын

@@Cub__ Ban $$$ in politics period get the corporate elite out of Washington.

As a side note, it is also pretty disgusting how companies and politicians have been talking of incentives to pull people out of retirement in order to alleviate labor shortages... Given the current demographics of rich countries this is not going to fix anything on the long term as the problem will only grow worse if we don't rethink the value of essential work completely

@marmadukescarlet7791

2 жыл бұрын

Politicians seem to have plenty of free time. Maybe they can process meat or pick fruit and vegetables. If not them, how about their parents?

@-whackd

2 жыл бұрын

The old boomer parasites want to work the young's hands to the bone and burden them with way more taxes, so they can receive welfare they didn't save for.

@ausbare140

2 жыл бұрын

If there are labour shortages why are there still unemployed people.?

@jordanmcgrory2171

2 жыл бұрын

One way to surpress wages is to increase the notional pool of "competitors" (i.e. other workers) who might take that job. That's why its such a boon to the capitalist class to drag the elderly back into the workforce.

@blackholeentry3489

2 жыл бұрын

@@ausbare140 Because most of the unemployed refuse to pick crops....like I did for decades.

I live in Canada and I never gave a lot of thought to retirement and felt pension deductions were just a necessary evil. I admit that I didn't expect to be around to collect. I am now 70 and retired 4.5 years ago. I took a slight decrease to collect my monthly Canada Pension and my company pension kicked in at the same. At age 65 my Old Age Security monthly benefit started and my `take home' is 25% more than when I was working. Living expenses are also lower since there are no work related costs. I did not expect to be this comfortable in retirement. I suppose a lot depends on which country you live in and the social benefits like universal health care and other seniors benefits.

It is so sad to see how quickly the US has become a hellhole for everyone living there. I can understand everyone who considers moving to Canada or Western / Northern Europe. Our countries and systems might not be perfect as well but, when looking at the US from an outside perspective, it is better in ANY developed country.

@maudley

2 жыл бұрын

What's even worse is we're basically being gaslit that everything is fine at the same time.

@LargeFather69

2 жыл бұрын

If only it was easy to leave smh. Only English was enforced in school, so I am a monolingual therapist rn. Trying to use the family for free language lessons. Would love to go to France or Canada if given the chance

@sparkles7111

2 жыл бұрын

nah man canada sucks ass too, everything is too fuckin expensive and we cant afford food anymore

@bobbyferg9173

2 жыл бұрын

@@LargeFather69 Is French Canada considered a better place to live than the rest of Canada? Because while it would be beneficial to learn another language, I think you can get by fine with just English in most places in Canada.

@LargeFather69

2 жыл бұрын

@@bobbyferg9173 Nah French is definitely not necessary to get into Canada, my issue is my field isn’t in demand. Bilingualism would help on an application regardless tho

It is so frustrating to me being coerced to invest a 401k when studies (limited, mind you) show that conditions I have, when combined with other co-morbidities, lead to an average lifespan between 39 and 54 years. I have tried to get that point across, but since it isn't like I have been diagnosed with a terminal illness, it is just treated as an overreaction. What, then, is my drive to kill myself with stress for savings that I will never use, and have no next of kin to pass it to? Why let the fear of poverty drive me to that desperation when it would be just as well to live my life to the best I can until I run out of money and die anyway? There's no saving the concept of retirement for me regardless unless true systematic changes occur. And like many others here, I have needed to drain my 401k during a period of unemployment twice already, just barely not disabled enough to get support. Heck, even my Mother is struggling now since she intended to work through retirement, but had to have a knee replacement. Does that get her disability support? No, because she already got to her full retirement age to claim those benefits instead. Even trying to care anymore is exhausting.

@ZachJ-0

2 жыл бұрын

I had to drain my retirement in the past year as well. 7 years of building, gone. Couldn't even get unemployment because my former employer, after having had fired me, started claiming I quit. And has now appealed the decision of approval of my unemployment benefits twice. It's been a whole year with no income at all since the pandemic assistance ended the week I applied for benefits. I've seriously considered just putting an end to it at several points through this experience. Living in this society is literally soul crushing for me. I hope you have some good fortune come your way soon friend. And for whatever it's worth, you give me a level of comfort knowing I'm not entirely alone in this.

@priyamtolani1480

2 жыл бұрын

What co morbidities do you have? If you don't mind answering

@dingfeldersmurfalot4560

2 жыл бұрын

@@SkyGravity137 The fees can be ridiculous -- especially since, for something like the S&P 500, there is no "management" to do for you. I was getting charged 30 bucks a month for my 401(k) company to do basically nothing.

@vulpixelful

2 жыл бұрын

You still get the reduction of your taxable income with a 401k, which pretty much means higher tax refunds. 401k funds are also protected if you're sued or declare bankruptcy. There are good 401k plans out there but not _nearly_ enough because employers are incentivized to get the cheapest and shittiest plans, and really a lot of the people in charge of choosing the plan are financially illiterate. Our education system sucks when it comes to _alllll_ of this.

@lightzpy8049

2 жыл бұрын

If housing and transportation wasn't an issue then your savings would be way higher and your social, economic and geographic mobility would be better, blame the housing market and high rent prices which reduce fertility rates therefore burdening the younger and younger with the ageing as they make a smaller part of the population generation by generation.

As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.

@Hudson367

8 ай бұрын

The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.

@Hazel5063

8 ай бұрын

Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know

@Scarlett34568

8 ай бұрын

I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

@Hazel5063

8 ай бұрын

I'm guided by “CATHERINE MORRISON EVANS” an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.

@Scarlett34568

8 ай бұрын

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

I’m a teen working retail and there are multiple people of retirement age who work there. It’s not even short hours, they work harder than I do. I was working around 20 hours for a while when school was online (essential worker moment) and they still worked far more than I did. Made me kind of sad.

@edhuber3557

2 жыл бұрын

I'd feel kind of guilty.

@xXEvangelXx

2 жыл бұрын

This is not at all uncommon. Country is completely fucked lmao. There is a guy in his 60's who does the carts at my job...

@huntressaddict

Жыл бұрын

more and more elderly folks are joining my retail job because they need the money and wasn't getting it from their social security. it's disheartening and solidifies my belief that this country is fucked.

@michaeladkins6

Жыл бұрын

If you get social security, you can only make so much a month or social security will tax you more. Over the limit and they take back a dollar for every three dollars. Btw, I had almost 200k from a very generous company. The recession from wall street greed took almost all of that.

@brendansherry8737

Жыл бұрын

Take it as a lesson and start saving for retirement early. If you dave 300 a month from 28 to 65 in the S&P 500 you can retire a millionaire. If you make 50k a year, which is less than the median salary but live like you make 46,400 a year you can retire a millionaire. Start early.

As my dad have continuously said (Being Syndicalist) "Frankly, it would be better if people above 60 were not allowed to vote. We are not the ones who will have to live with the consequences." He is only semi-serious, but he deplores the fact that so many middle-aged and older decide policies with immediete benefits and heavy future problems that will last for decades that the next generation has to deal with. Like capitalism.

@Jose04537

2 жыл бұрын

Well, you're supposed to close the door when you leave 🤣😅😭

@dc76384

2 жыл бұрын

Maybe authoritarian government is a better choice.

@awkwardbound569

2 жыл бұрын

@@dc76384 imagine looking at a problem like this and deciding that the government needs to be even less democratic

@tragdar

2 жыл бұрын

@@awkwardbound569 Imagine looking at all these people failing so thoroughly in their own personal lives, taking psychotropic medication, with no guidance from a capable, benevolent source, and thinking THEY are the ones who'll know precisely the needed changes. Identifying the problem is one thing, but mostly all are so far from a solution that they'd be better off letting a monkey have a go at a typewriter.

@awkwardbound569

2 жыл бұрын

@@tragdar A: most of this is irrelevant pschyobabble B: capable, benevolent sources aren't authoritarian

This has been on my mind a lot lately and makes me so angry. It’s really hard to stay motivated when you already know that you’re gonna work until you die (and likely will struggle until the end). Fuck capitalism.

@DDunc1020

2 жыл бұрын

Fuck the world

@Praisethesunson

2 жыл бұрын

Remember comrade, the emancipation of the working classes must be conquered by the working classes themselves. the struggle for the emancipation of the working classes means not a struggle for class privileges and monopolies, but for equal rights and duties, and the abolition of all class rule. That's the Marx way of saying, it's not called class struggle cause the rich make it easy on you.

@Remix2366

2 жыл бұрын

There's always a different way. Read the writing on the wall.

@lilid5016

2 жыл бұрын

It’s not capitalism’s fault

@Remix2366

2 жыл бұрын

@@lilid5016 it is

I’ve made peace with this depressing truth a few years ago. What worries me more today is if there will be a country to live in by the time I reach my elder years

Your videos make me sad. The truth hurts but I needed to hear it. Thanks for bringing me back to reality.

This one is especially disturbing to me - it’s so difficult to plan for the future at all when the present is so difficult to manage (and it’s obviously the system is trying to make it so we’re working no matter how hard we try and plan)

I work in a nursing home. A lot of people are pretty used up physically, and sometimes in other ways, by the time they are 65 or 70. That's the way it's likely going to be for me, too, even though I started working as a child. I wouldn't wish the U.S.'s morally bankrupt politicians, who will never stop working against its citizens, on anyone. Biden just appointed someone to control social security who actively opposes the program, if you were hoping to look around and spot the good guys.

@Gingersnaps_the_pumpkin_kitty

2 жыл бұрын

I know this is conspiratorial as hell but I swear the Democrats and Republicans are working together. Like from the fact that The Republican Party became this way BECAUSE it was invaded by dixiecrats (Democrats). And the fact that Joe Biden himself constantly talks about working with the Republicans but never against them. To the fact that Biden himself was quite bigoted throughout his career leading him to vote for segregation and against gay marriage. The Republicans roll back rights and the Democrats do nothing, even with full majorities, but they use it to campaign for your vote anyways. These mfs are running a con on us, I swear just the Republicans are getting too crazy for their own good.

@cegesh1459

2 жыл бұрын

France has a retiring age of 62. Fight.

@Telleryn

2 жыл бұрын

That's a big part of the problem, the people making the rules get to that age having never had to do the work that most others have, and have enjoyed better healthcare throughout their lives, so their physical health at 65 is far better than most, and they're too naive (or frankly uncaring) to know that their experience isn't normal, so they assume that those wanting to retire at 65 are just lazy when they've been chewed up by an exploitative system

@kimberlychodur3508

2 жыл бұрын

@@Telleryn I totally agree with you, especially those that have done physical labor their whole life. I would say even by the time your 60 your body can’t take the strain of 9 to 5 physical labor anymore. They also get more paid time off to recuperate which most people do not.

@dingfeldersmurfalot4560

2 жыл бұрын

@@Telleryn Dead on, IMO. You can predict people's lifespans by their zipcodes.

One thing worth adding is why this is such an important issue to feminism/gender equality. The end of retirement also means the end of being able to choose whether or not you get married and have a family. Before retirement became a normal thing for working class people, the elderly relied on their children to take care of them. This is why 'but who will take care of you when you get old?' is a favorite conservative retort to people (especially women) who choose to be child-free. It also gives the game away: their future is one without retirement, where women are expected to be perpetual, unpaid caretakers for the young and old. A world where men work until they are physically/mentally incapable of doing so. A world where women are only able to work if they have no young children or elderly adults in their home to take care of. And in a world where abortion, contraception, child care, and retirement are increasingly difficult to obtain or afford, that window will get smaller and smaller.

@patriley2607

2 жыл бұрын

THe first thing is vote out your current government. Don't vote for anyone who has been in power more than two terms. Second Arrest the guys you voted out charge them with theft give them life in prison.

I’m trying to plan for my retirement(I have none) and I understand that a recession is where many people make money. Someone I listened to on a podcast made a profit of $150K in less than a month. I'd appreciate any tips

@lathamwilfred1181

2 жыл бұрын

There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts

@alwaysbusy7230

2 жыл бұрын

. You’re right. My personal portfolio of approximately $550k took a big hit as well in April due to the crash. I quickly got in touch with a financial planner that devised a defensive strategy to protect and profit my portfolio this red season. I’ve made over $120k since then.

@isaiahsaldivar2379

2 жыл бұрын

@@alwaysbusy7230 There's a decline in my reserve. lost over 12 thousand this week alone. Can you link me up with your handler?

@alwaysbusy7230

2 жыл бұрын

@@isaiahsaldivar2379 The advisor I use is “Dawn marie gatti,” she's verifiable, so you could just search her.

@yolandagriffin2030

2 жыл бұрын

I usually would not take advises online but i curiously looked this Dawn up and scheduled a phone call with her. she seems proficient and well-grounded.

I knew when when I first started learning about economics and politics in the United States, that retirement would be impossible for my generation (younger millennial). I was in middle school and have yet to be proven wrong...

@Praisethesunson

2 жыл бұрын

It is very possible. You just have to take back the wealth your class of labor generates that the capitalist class steals from you everyday. Which requires organizing and participation in your local union. You have nothing to lose but your chains.

@chriscarlisle5676

2 жыл бұрын

Same here, I even attempted to calculate how much I needed as a minimum and as a comfortable when I grew up, and have watched as we finally reached the minimum over a quarter century past when it should have been. 😢😮‍💨

@idyllicmoon3651

2 жыл бұрын

Try anyway. Do the best you can.

@dc76384

2 жыл бұрын

You didn't even try.

@kyleparadis5840

2 жыл бұрын

I highly recommend watching the money guy show in youtube itll help

I’m a patron of this dude. And still getting used to him showing himself in videos now. 👊

Recessions are where millionaires are created, I feel for the older generation, but if you are you or middle age, you should do everything possible to double or triple your income.

@gabrieldolph508

2 жыл бұрын

I agree with you.

@gabrieldolph508

2 жыл бұрын

I overheard someone talking about how a couple made $200k during this red season but it’s risky except you’re being guided by a pro.

@gabrieldolph508

2 жыл бұрын

I overheard someone talking about how a couple made $200k during this red season but it’s risky except you’re being guided by a pro.

@samuelteddy.439

2 жыл бұрын

@@gabrieldolph508 if this is true

@samuelteddy.439

2 жыл бұрын

I will be retiring in two years and I have a goal of doing that with $1M. How can I reach out to your guide?

I started my retirement planning at age 20 in 1992. I contributed faithfully for 7 years, up to $25k, then got let go from my job, and moved to a different job without any retirement benefits, but kept my account at Fidelity. In 2008, during the stock market crash, my retirement account suddenly went to zero. Years later, someone explained that that wasn't right, that someone at the investment company literally stole my entire account right under my nose and I had no idea. So I started over. Got back up to about $30k, then the next stock market crash happened in 2019/2020, and... You can see where this is going. So, exactly how am I supposed to save for retirement when it's literally being stolen from me multiple times? Plus I have no benefits at my current job, so I pay for all healthcare costs out of pocket. My parents had over $1m in savings before they retired but Mom got scammed out of her long term care insurance so we've spent it all paying for her care. Mom is 88 with severe dementia and Dad is 85, missing 1/3 of his brain. He's been in a care facility for over 15 years already due to a cancer treatment going wrong and requiring that emergency surgery to cut out the necrosis in his brain. I'm now trying to pay $20k/MONTH care costs for them with only $6800 coming in, and this is for people who HAD savings. I have nothing, and no hope of gaining any, because see paragraph 1. The final nail in the coffin, so to speak, is student loans for my midlife career change. I was a victim of predatory lending, from a school that lied about their placement rates, and wasn't even accredited when I entered the school, because they lied about that too. Despite dozens of interviews, I never landed a job in my new field, because I graduated in the middle of the subprime mortgage crash recovery period, and my industry was construction-related. My student loan debt is already at over $250k and rising annually at 8.5% that I'm not allowed to refinance or I lose credit for the 10 years I've already paid in. My program will "forgive" that debt by adding to my tax bill as if it was income after 25 years... the year I'm "supposed" to retire, at 67. So I'm facing a $500k tax bill, with no savings, and little to no social security because the program will be gutted by the time we get to 2039. My plan is to die in debt probably living in my car, because student loan debt isn't inheritable, and I have no children, and no home anyway, which was my life's dream and why I went back to school in the first place. Suicide booths like in Futurama are starting to look more reasonable. Despite this, I foolishly hope that I can somehow find happiness in my daily life, continuing to work and live in my car because I won't be able to afford rent, let alone retirement. Whee

@AudiblePhysicsProductions

2 жыл бұрын

We have almost the exact same story other than losing a house in the 08 crash to predatory lending that I paid for by working 3 full time jobs on top of full time college and losing class credits by getting in a car wreck that paralyzed me for a year. I still haven't bounced back yet and now having to take care of my gparents and parents as their social security barely covers their medical and living expenses. No one in this country can do well without a trust in place beforehand any more. ALL economists agree on that fact. We are utterly boned. Good luck to you in the coming fall of rome.

@TheJenSolo

2 жыл бұрын

@@AudiblePhysicsProductions So sorry to hear of your struggles. Wishing us both increasing health and finances. Life is pretty unfair sometimes.

@Tia-gy1ij

2 жыл бұрын

I'm so... speechless. I'm literally crying right now... That's no life to live. That's horrible-- that's a nightmare! People need to hear your story and need to be made aware that this is a reality for so many. The way you spoke about your life about the sheer depressing reality of being used and abused by a system who just left you for dead. I'll be honest. I could not live through what you did. That is horrific. I can wish to help you I feel like you need to complain to someone! Someone might help you! But jesus christ that is a depressing reality to live. I'm sincerely so sorry. I wish there was SOMETHING I could do. If I fucking had a tenth of the money that billionaires have... A TENTH... I would be able to save your ass and make it so you could just live the rest of your life in peace. I'm so incredibly frustrated on your part.

@TheJenSolo

2 жыл бұрын

@@Tia-gy1ij You're so kind and empathetic, thank you. I don't mean to complain, I just want to share my story so that people know what's happening to real people, good people, who did everything right and are still being punished by the system. I don't have the answers, but a fair wage and universal healthcare for work that's meaningful would go a long way towards making my story less awful. Vote and make my voice heard and vote with my dollars is my path, for now. Will update you if I discover something else!

@garthqueen

Жыл бұрын

What makes you think youll be able to run a car?

If the USA would just get rid of the income cap that is paid into social security that would solve most issues. Baby boomers get annoyed when young people point out they had everything handed to them from pension,401k, a house,ability to save money as it was worth more,affordable college. Young people nothing.

@oreofudgeman

2 жыл бұрын

Because they did. They had the best possible setup for social mobility and wealth generation in american history. Blue collar america existed, and was thriving. You could comfortably support a family on a single income without ever having gone to college. They literally couldnt have had it any easier. They didnt have several "once in a lifefetime" economic recessions before they were even old enough to make their voices heard. And then they have the nerve to think everyone else is lazy after pulling the fucking ladder up.

@mikespangler98

2 жыл бұрын

Boomers Had everything just handed to them? Then why did I spend eight years in the Navy getting the money to go to college? I will agree that I was fortunate enough to have a father that set high expectations.

@mikespangler98

2 жыл бұрын

@@dannywindham3295 MMT is why we now have 9% inflation. There is no free. The Professors have to be paid, the building have to be built, equipped and maintained, and the students need to eat. Someone is paying. Inflation just hides who.

Gen Xer here. Two years after I started working for the U.S. Government, they brought us in to talk about their Thrift Savings Program. The first news they gave us was don't expect Social Security to be there when we turn 65 (for Gen X, that starts in 2030). That has shaped my retirement savings plan for my entire life.

@idyllicmoon3651

2 жыл бұрын

Ditto. I had better get my SocSec or I'm going to be one very vocal, very PISSED OFF woman. I've been paying into that most of my life. Better get it or it's gonna get ugly!!! 🤬

@TarenNauxen

2 жыл бұрын

Around 2010 I started getting those annual statements from Social Security about my retirement benefits and even back then they clearly stated "Yeah we're probably gonna be broke by 2037, don't count on us being there at all"

@margaloone7970

2 жыл бұрын

They keep calling social security an entitlement program or welfare program. We have paid into the system, they took our money and then I am concerned it will not even be there. Most people don’t have pensions. Most of us are required to pay into a retirement plan that we dont control or can even touch. The money is in the stock market and we have little control.

@HaldaneSmith

2 жыл бұрын

Social Security won't go broke but current taxes will only cover about 70% of benefits starting around 2033. Workers pay 11.1% of their salary for their entire working lives to fund Social Security and the median voter's age is 55 so voters will not allow benefits to fall. Your age when you start getting benefits, though, will likely increase.

If I ever make it to retirement age I'll most likely won't live in the USA! If things are expensive now I can't imagine in the future how outrages things would cost

@flovv9357

2 жыл бұрын

Exactly

@BigTroubleD

Жыл бұрын

Other countries are developing and getting residency is harder than before. Who knows if we’ll even be able to do this when the time comes.

Actually, life expectancy isn't increasing at all. 2014 saw the highest life expectancy in the US. Ever since then, it has dropped each year or roughly kept even. As of 2019 it was still a bit lower than 2014, and of course 2020 and 2021 it dropped due to pandemic. In short, the idea that we're "living longer each year" is an outright lie. Even before the pandemic, it wasn't true.

@edhuber3557

2 жыл бұрын

Substance abuse also relates to the slight life expectancy decline. Which socioeconomic quartile tends to shorten life by this means?

@vizerandevir6422

2 жыл бұрын

Coming out of the pandemic (if that can be said of our situation) old people's life expectancy is going up while young people's is going down... and they wonder why there's all this shade being cast on them... for literally going against that old adage that "fathers shouldn't have to bury their children" while twirling their moustaches in Boco Raton.

@SplatterInker

2 жыл бұрын

And substance abuse is usually linked to a lack of social mobility and opportunity, frustration, undealt with mental health issues because of a lack of access, undealt with physical health issues because of a lack of access etc. So, its not just a personal failing or susceptibility among the poor. Its the fact they are being expected to labour physically harder and longer, with less recouperative time, fewer resources, and little access to health care.

@edhuber3557

2 жыл бұрын

@@SplatterInker 'Not just...' but speculative supposition that it is mainly so.

@nadie8093

2 жыл бұрын

Just a side effect of being one of the fattest countries on earth

Future : 95 year old grandpa's with 3 jobs. That will be such a succes !

@Worthless1010

2 жыл бұрын

Inspiring: Grandpa still alive and kicking ass at 95! Not even three jobs can stop him! 😍

This is also why there has been an increase of american retirees moving to Mexico since the cost of living is affordable for what they are receiving from the US government in Mexico and also both permanent and temporary visa residents are entitled to the free healthcare system in Mexico as well.

@querube78

2 жыл бұрын

I'm dual citizen and in planning on college there too since top colleges cost a fraction of what they do in the US and I won't have to work and study at the same time since I've lived there and can live there for years if I sell my car.

@ericktellez7632

2 жыл бұрын

@@querube78 try and apply into UNAM or Tecnologico de Monterrey, top universities in the region.

@querube78

2 жыл бұрын

@@ericktellez7632 That's the plan. I'm okay with Guadalajara med school as a plan b though since it is accredited in the US and more aligned with what I want to study. After COVID I expect the enthusiasm to study medicine and the job positions left open by the ones that left to be just ripe for the taking. Wish me luck!

@Peppermon22

2 жыл бұрын

My husband is from the Philippines. This is his plan even if I don’t come. I’ve convinced him to work on getting a pension plan through a school district I work at. That way we can bring something in at 60.

@vydg9400

2 жыл бұрын

And that is also the reason why the native Mexicans need to kick these people out or the cost of living for them will increase. If you get paid in USD you spend in USD. Stop making other people's lives miserable. The world has had enough or you.

The amount of older folks I know who still work near full time jobs, despite being of retirement age is absolutely insane, even the current older generation isn’t allowed to retire.

@henryjohnson-ville3834

2 жыл бұрын

Yep, that's my aunt right there with painful varicose veins working night shifts on her feet with little English. She got six more years before her measly check from social security will start coming in. Amerika is a joke.

@eternalobi

2 жыл бұрын

Yeah I see a lot of 60+ folks working at construction sites that are physically demanding all the time. Union jobs though, so they have decent pensions but still that's not enough these days depending on your lifestyle.

I'm in my 60s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that made hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?..

@adenmall7596

2 жыл бұрын

You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.>>

@bsetdays6784

2 жыл бұрын

@Elliot Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K during this dip, that made it clear there's more to the market that we avg joes don't know...

@bsetdays6784

2 жыл бұрын

Top credits to “Patrice Carol Rainer” one of the best portfolio manager;s out there. she;s well known, you should look her up

@roddywoods8130

2 жыл бұрын

@@bsetdays6784 Researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.

@eneco3965

Жыл бұрын

These bots are getting better every day

My job hired me as “part time” but I work 45-50 hours a week with no benefits no retirement no PTO nothing just work more hours for less free time

@Cub__

2 жыл бұрын

That's not even part time either, sounds like a scam to me.

@ChineseKiwi

2 жыл бұрын

that is illegal.

@melindagallegan5093

2 жыл бұрын

Find another job!

@Praisethesunson

2 жыл бұрын

You need a union

@KickinRadTopHat

2 жыл бұрын

Familiarize yourself with whatever the labor laws are where you live because it sounds extremely likely that its illegal. Your boss is screwing you over and probably relies on their employees not knowing labor law to get away with it.

Politicians NEVER want to retire because their jobs are so lucrative…that is why there are so many old people holding office in their 70s and 80s. They are out of touch with ordinary people, living in their bubble of wealth. It costs so much to succeed in politics that your average person has no possibility of entering that field. Until the huge monetary stakes for the huge corporations and wealthy donors are removed from politics…it will only get worse. It is neither government for or by the people.🖤🇨🇦

I retired last week. I’m 51. Moving to Mexico next month. Not rich. But frugal. And smart.

@didforlove

2 жыл бұрын

your not smart or frugal your just running away from a collapsing system

@Don-uo5bm

2 жыл бұрын

And it’s you’re. Not your.

My Type 2 diabetic grandfather who can only see out of one eye, has been forced to work as a VAN DELIVERY DRIVER for a car shop for the past several years. I always thought they were well off, but the American retirement system is clearly not working for almost anyone.

@didforlove

2 жыл бұрын

99 percent are enslaves so the 1 percent can live like kings

And they wonder why young people tend to be "lazy" and "entitled." They do not want to work hard for those who contribute almost nothing to their well-being and whom tend to not care about them at all. Why should they care about supporting those who do not care about them?

@cardiiiiii

2 жыл бұрын

Boom right on the money

@Killzoneguy117

2 жыл бұрын

Exactly. My taxpayer money goes to support people who would otherwise spit on me. Whether for my age, or my ethnicity, or my social status. A generation which used this pandemic to enrich themselves by buying up property and pricing the rest of us out of the market. And then lording their multiple properties over us. I have no stake in the future of this country. Or this world for that matter. The only roots I have are my family and my career, and one is fleeting while the other is likely to count for less and less as the economic situation worsens for us all. I do not care anymore if my society prospers or if it burns. And I will happily throw my lot in with whoever, and I mean WHOEVER promises me a better future, however grandiose the promises may be, whatever means they may intend to take to bring me that better for future. Hope for a better future is better than nothing to me.

@evilds3261

2 жыл бұрын

@@Killzoneguy117 Those who do not question will always be lied to. Keep being curious and passionate - set your own boundaries so that it is not easy for others to manipulate you with empty promises or even empty threats.

@Killzoneguy117

2 жыл бұрын

@@evilds3261 Do not patronize me. I know exactly what politicians are. Or what their agendas are. Every politician acts first and foremost for themselves. If their interests mean first appeasing my interests, then that is good enough for me. I always thought democracy was overrated, now I see that it is unbelievably stupid. Nothing but a clever means by which the merchant-bourgeoise class could subvert power from Kings, Warriors, Nobles and Clergy, all to the detriment of everyone else while simultaneously suppressing all serious opposition to the status quo in the name of preserving itself. At least a King derived power directly from the people, and had to keep the masses on side lest he be overthrown by the nobility or murdered by his subjects. A faceless, abstract nexus of supposed institutions to whom we must all owe allegiance? Now that is much harder to overthrow, especially when those same institutions work against us all.

"making the worst choice nobody asked for" - by far one of your best lines yet, love it, and so true!

man, even in canada, if things don't change soon, I'm just screwed.

And the pandemic just made everything worse. I was 58 and had my own small business when the pandemic hit. I had some money saved for retirement, but no where near enough for a well funded retirement. With social security I could have lived in my rent controlled apartment and tried to live well. Then I lost everything with the pandemic. My business, my side job and almost lost my apartment due to not being able to pay rent. Went homeless for 9 months and subleased the apartment to get it off my back. Then hustled to get a few jobs here and there. Basically 2 wasted years of not saving, being miserable, having to resort to extremes when close to 60 and the government doing jack about it. By the time I could try and get back to work I was definitely no longer appealing to employers at 60. Now living in a recession, 60 years old and eating into said retirement savings. I work as a maid when I can. Body is tired. Body hurts. The only solution I can figure out is to leave this country. Not for any posh European flat somewhere in the countryside. Nope. To a developing country where the cost of living is affordable for me to retire now. It's a last ditch, hail Mary play to hopefully survive bdyond the early death they'd like for me in the USA. Now really, I am one of the potentially lucky ones. I have enough to keep me off the streets while I sell all my possessions and move to a foreign country where I don't speak the language and start over in my 60's. No friends, no family and still needing to be very careful with money. I won't have to work and I will not be homeless or hungry, but I will be isolated and likely grow old alone. When I look at it deeply it's going to be hard no matter what. I am not the only one facing these decisions. Anyone who was in their 50's and early 60's during the pandemic could be in this position, of being too young to retire and too old to get a decent job. Thank you for talking about some of the issues facing retirees and future retirees.

@BigTroubleD

Жыл бұрын

I’m hoping to eventually be able to do this. I think I’d rather settle for a simple life away from America in a developing country than continue in the dredge that is this BS America has planned for me.

@alxx1378

Жыл бұрын

I'm Greek 54 and that's my plan. I was lucky enough to to make a self insurance ( or private)back in 91 so now I'm waiting for some small pension when I'll be 60 and pay only 140 euro for Healthcare that allows me to spend around 20000 per year if something happens. Anyway Vietnam here I come.

@louchapman4702

Ай бұрын

😊

Ya, we are talking about a system that had a politician actually say on camera, "old people should be willing to die to support our economy." Sooo, ya... that's the dystopian world we all live in.

@acrowdofone6075

2 жыл бұрын

Yeah, I remember that. It was appalling.

It's no accident that one of the best government backed American retirement plans is military service. We're the society Heinlein warned us about in Starship Troopers.

@Falcodrin

2 жыл бұрын

That's not even a guarantee anymore. The military pension is gone now. People are still grandfathered in but new recruits just get a 401k.

@kevink1575

2 жыл бұрын

@@Falcodrin yuck

@SidewaysN

2 жыл бұрын

It wasn’t warned about, it was planned. Every form of media after the rich were put in their place, around the early 1900s, shows some outlandish dystopian vision that we’re inching towards. It’s desensitization, put it out there in an overblown way and most people either won’t react in a way that would be revolutionary or will conflate it with something like “they told the future!”. I have a long list of it taking place in at least music, television, movies, magazines, and books

@benjaminnoble2244

2 жыл бұрын

@@Falcodrin Blended Retirement System still has a pension. It's just 2% a year and dollar matching into Thrift Savings Plan up to 5% , vice the legacy 2.5% a year. It's not amazing, but you can still walk away at age 38 with lifetime health care and your mailbox money.

@Falcodrin

2 жыл бұрын

@@benjaminnoble2244 still they are asking people who make very little to pay into it now

Saving for retirement is important. Many Americans interested in buying a home in their 20s and 30s also are at the prime time to be investing for retirement, as that money has the potential to grow with returns and compound interest for decades.

@basconevinnie647

2 жыл бұрын

People in their 40s and 50s are usually reaching the peak of their earnings years, and every dollar they can earmark for their old age is important, especially if they weren’t able to save as much when they were younger.

@AyaanFarax223

2 жыл бұрын

People who have already been saving for retirement are at an advantage, as they can back off their retirement savings for a while and build up the funds for a down payment, said Karen Marie Emma, a certified financial planner. “Younger people are generally in a better position to lower retirement savings temporarily because they have so much time to make up for it,” Karen said.

@Gbdnd

2 жыл бұрын

@@AyaanFarax223 I’m 50 years old looking to diversify part of my savings say $250k into real estate but I hear it is not a good time to invest in Real estate. Can i get any idea on other options?

@AyaanFarax223

2 жыл бұрын

@@Gbdnd I have my funds well diversified by using trade signals from my investment advisor Karen Marie Emma a US registered CFA who you might have heard about or seen in the CNBC news and tbh it's been a huge relief. Highly diversified portfolio, mind blowing earnings and little to no engagement at all on my part.

@AyaanFarax223

2 жыл бұрын

@@Gbdnd You don't give out funds here. My account only mirrors her trades in real time that's the ideal for this system. The lady I just recommended is a renowned advisor and knows what the heck she's doing. Check her out and get in touch if you'd need help. Charges 10-5% of profit.

My dad just retired this year, and he doesn't believe me when I tell him I'll probably never be able to retire.

You're missing a major issue. Public pensions and social welfare for the elderly are paid out from current contributions. The baby boomer generation is massive and had few children. Then created social conditions that made those children have even less children of their own. Meaning there are not enough people to finance these systems once the boomers retire en masse. But as a bloc the baby boomers are still bigger than any single other voter bloc and can wield more political power as a group than their descendants. Pensions and retirement will be the preserve of the baby boomers with any subsequent generation being denied them and forced to shoulder the debt burden of the boomers retirement.

@chrisjones1127

2 жыл бұрын

So raise the wage cap. Make those making bank pay up.

@ToxicityAssured

2 жыл бұрын

SS was a Ponzi scheme type thing from the get go. Any system that depends on continued (forever somehow) growth to function absolutely melts down when populations shrink. I remember the first time I learned about age structure diagrams thinking how good ideas turn brutal in a generation or two if things change very much. The Boomers lucked out so much getting a lot from the hard work of those before them and after! Very right place, right time and right circumstances. Those selfish dick wads! Most people would have done the same. All animals jump on opportunities, even if short sited and self fucking.

My grandparents are celebrating their 80th this weekend. I'm glad they were able to retire. If they had been forced to continue working, it would have killed them both.

@Praisethesunson

2 жыл бұрын

They were also part of generation that would have killed the corporate board members who would try screwing them out of a pension. Which is probably a factor

@shadowpuppet8192

2 жыл бұрын

@@Praisethesunson Fair.

@ethanstump

2 жыл бұрын

@@Praisethesunson maybe we should bring that sentiment back. for self defense.

@Praisethesunson

2 жыл бұрын

@@ethanstump It works. Rember kids. The state can only punish you for crimes committed after the fact. There is literally nothing stopping the people from showing the capitalist class screwing the workers that screwing has real life consequences.

@SomethingSomethingg

2 жыл бұрын

What's ironic is that my grandfather worked until 81 and as soon as he decided to finally retire he died lol And he only worked so long because it was the only chance he could get away from my grandmother

I was fortunate enough to be among the few represented by a union, and covered by a decent, though by no means generous pension. When I apply for Social Security when I turn 70 (in four years) my retirement income will be approximately equal to what I was earning when I worked at my State job (in Connecticut). Plus, I will probably continue to work. I want to. My work is educational and gratifying (one reason I have done the work I have done). I have been a Sign Language interpreter for 40 years (32 with the State until I ‘retired’ in July of this year). My ‘Full Regular Retirement’ will start in January when I am 66 and four months. I will also continue to work for the expansion of Union membership and benefits for all workers. Bring back the numbers of union members and the tax rates that prevailed in the 1950s (two of the few things that actually WERE better in the 1950s).

@newagain9964

Жыл бұрын

Thing is - U need to retire/stop working FT. And allow another’s upward mobility. Ideally, Ppl 60+ shouldn’t be working FT.

@Andrew-zs5tc

Жыл бұрын

@@newagain9964 That sounds like a good idea but not accurate. The US economy has plenty of jobs for qualified people. We have shortages in many professions. More doctors, pilots, engineers, lawyers, accountants, and so on have retired than the number of qualified people ready to move up. Sixty is too young to encourage people to retire who want and are able to work. Keep doing what you enjoy doing. We need all the experienced people we can get.

@newagain9964

Жыл бұрын

@@Andrew-zs5tc the shortages is due to ridiculous amts of red tape and expense to become said professions, created by…the 60+ group to deliberately keep demand high and supply low.

@Andrew-zs5tc

Жыл бұрын

@@newagain9964 For doctors, I agree, for others, I do not. I have been looking for an accountant and can't find qualified candidates. Many older accountants are retiring and there are not enough at the next level to move up.

@newagain9964

Жыл бұрын

@@Andrew-zs5tc no. There’s plenty of accountants available, u just don’t like the few you’ve interviewed and/Or maybe you’re not paying enough. Or have a toxic workplace.

My other half and I have been investing under the assumption we get nothing - no SSN, no inheritance, no pensions. On our own, no high fee high risk things allowed - we're with Vanguard. We both work state government jobs with pensions - for now. The result has been that as two successful adults with relatively high paying careers in our 40s, we still live like we're in our 20s, because every spare penny goes into the index funds. It's only possible because we don't (read: can't) have kids. The obsession with saving hasn't meant we don't go out and do fun things. But it's meant we live in a modest house, drive modest cars, and generally have inexpensive hobbies. And we're debt free. I plan to retire at the expected age..... I just hope that I'll be healthy enough to enjoy it.

Most of us are too busy working to keep up with policy changes let alone organize against them. This is likely by design :/

@JorgePetraglia2009

Жыл бұрын

Logan S : it always has been and yet despite all the resistance of the rich, we the old people found ways to create benefits that the young still enjoy today.

@logans3365

Жыл бұрын

@@JorgePetraglia2009 could you explain what you mean by benefits the young are enjoying?

In Australia, there are mandatory pension contributions that are **on top** of wages. It is currently minimum 10.5% of wages, going up to 12% by 2025. Every worker gets this, even fast food workers. This is then invested by an investment company and portfolio of your choice. Iceland, the Netherlands and Denmark have similar schemes. It is more in reality the US being 50 years behind the times. Again. Ironically, as a lot of this is invested into US equities, it is Americans indirectly paying for these citizens' retirement via their stock prices and dividends.

@darksid007

2 жыл бұрын

It seems good, but what happens if there's an economic crisis? Like a depression combined with a massive inflation?

@Freerunemem

2 жыл бұрын

@@darksid007 it all comes crashing down. Lots of states in the U.S. overpromised on pensions and are now loosing alot of money because the markets stopped growing at the projected rates.

@misterjoey3384

2 жыл бұрын

@@darksid007 you hold, silly. This talking point is used to scare people into avoiding investing so you can work til you die. People retire off the stock market every day. Some in their 30s because they take the bus and eat ramen. The dumbasses who got burned by Bernie Madoff went all in when they should have diversified that way the scam would have only affected a fraction of their portfolio.

@ChineseKiwi

2 жыл бұрын

@@darksid007 Been there, done that. Australian pension fund returns have averaged 8.9% return in premixed 'high growth' portfolios the last 29 years, including a -21% drop in 2008 due to the Global Financial Crisis.

@ChineseKiwi

2 жыл бұрын

@@Freerunemem see my post. It's fine if you are looking at 35-45 year horizons. And you nominate who gets the funds when you pass away.

Just as you mention, this is happening everywhere. Even in my country where we have a social pension and Healthcare program I won't be able to retire. The pension fund is almost broke. The reality is that politicians have been stealing the money from these funds since they were created, and now because of the demographic shift we start to notice

Retirement in Switzerland for someone having worked - and paid into their social security and pension system all their working life: retirement age 64 for women, age 65 for men, all 3 official retirement plans combined offer a payout of between 70 and 80 % of the income average of the last 10 years. This, combined with the some of the lowest income taxes in mainland Europe, one of the highest standards of living in the world, one ot the highest life expectancies in the world, a society in which every 8th person is now a millionaire(!), a top-notch health care system, a gorgeous environment and activities in nature to enjoy, personal freedoms rarely afforded in any other country and one of the strongest currencies on the planet (affording its citizens the freedom to choose which country in the world they would like to move to for retirement, and 99% of the time it would be cheaper there than at home), means retirement is for most inhabitants of Switzerland literally a walk in the park. So affluent retirement CAN be achieved for a society. All a country would need to do is copy the Swiss system and its direct democracy. But since political parties will resist EVER sharing their power with their people, no countries will adopt direct democractic measures voluntarily. So more such videos like this one will be forthcoming. And more people will never gracefully retire. Go figure. I don't feel sorry for anybody that hasn't yet understood these simple, underlying dynamics and mechanisms and keeps voting for the same elitist losers and corrupt politicians in their countries, rather than demanding direct democracy.

Thanks!

"The freedom to get fleeced" -- I used to think my 401k would cover the gap for a few years until 67, but with rising health insurance premiums and housing costs, there is no way that my retirement savings will keep up. Periods of inflation just help big companies, because your wages don't keep up, but their profits do.

We used to say it was easier to imagine the end of the world than the end of capitalism. Now we say: Why not both?

@obsoleteoptics

2 жыл бұрын

The fact that we refer to the death of mankind as The End Of The World perfectly describes how and why mankind will die.

@henryjohnson-ville3834

2 жыл бұрын

Yep, wish my boi Putin starts a nuclear war so our toxic society led by greedy politicians die.

@user-sf9gs2pg1b

2 жыл бұрын

@@obsoleteoptics I’ve always interpreted it as the literal world ending, as in perhaps something hitting it hard enough or all life forms being wiped, not just the human race. But maybe that’s an atypical interpretation.

@obsoleteoptics

2 жыл бұрын

@@user-sf9gs2pg1b The half-life of enriched uranium is 4.8 billion years. When humans destroy ourselves, we will destroy all life on the planet.

@rickeybernard8156

2 жыл бұрын

@@obsoleteoptics it deserves to honestly. Too much power to people who provide no value.

I'm hoping I can keep working. My fear is not being able to work and have to slowly starve on social security. And I enjoy working. But it is brutal to know as soon as I can't produce, I'll be thrown out.

@DrSchor

Жыл бұрын

It is biology and evolution. When you can't produce, you are taking food from the productive young. Mother nature is brutal, she weeds you out. But Rejoice. The whole point of SS is not to live well, but to make sure you don't starve.

@jakekaywell5972

Жыл бұрын

@@DrSchor Ah Social-Darwinism. A repugnant fossil of the 19th century that should have stayed there.

65 as a retirement age has always sounded like a huge scam to me. I’ve been traveling in my 20s and have been absolutely exhausted during those days. Can’t imagine doing that in “retirement age”

I thought this week's video is about the Roe v Wade thing, but my guess is that you probably need to gather more data to make a nuanced take, like on the Capitol riot one.

@dcmarvelcomicfans9458

2 жыл бұрын

Yep

@SecondThought

2 жыл бұрын

Yep, these videos require a bit more prep time

@goutamboppana961

2 жыл бұрын

@@SecondThought why is it named Roe v Wade though? can you give me a quick history of that?

@ahorseofcourse7283

2 жыл бұрын

@@goutamboppana961 I can answer that: one group of people say we should row boats through rivers, others say we should wade through them, and the court stenographer was bad at spelling, and that somehow resulted in American women accidentally getting some rights. If you hit up Google you can see this fact for yourself.

@Falcodrin

2 жыл бұрын

@@goutamboppana961 court decisions are named by the involved parties. So in this case it was some party named roe going up against some party named wade.

In Germany with a debate about higher pension age permanently lurking in the shadow, the head of a large pro-buisness-lobby-group recently got the great idea to not propose a higher pension age, but instead increase the full time working weak from 40 hours to 42 hours ...

@dudono1744

2 жыл бұрын

people will have less time to buy stuff, that's dumb

@clairaragon2881

2 жыл бұрын

@@dudono1744 the money will get spent by their wives.

Here in Spain we have the same problems with retirement. This problem has to be fought together internationally!

@nadie8093

2 жыл бұрын

Expecting social security in Spain is one of the most selfish things you could do considering the country is already at 140% debt and social security is causing the deficit to be even worse

People who we see as rich are mainly those who got a big gift from parents early in their adult life. They have a massive advantage of free home or zero student debt.

@shanty6953

Жыл бұрын

And where did their parents get that? Their parents? And after that? Point is, EVENTUALLY one of their parents (most likely multiple), checked their ego their fun at the door, That parent essentially said "i will work a hard painful life, so that my kids do not have to work as hard in their lives, I WILL make the sacrifice" Wait-wait, guess what their kid said "Thank you mom and dad, i will do the exact same thing, so that my kids work less hard than i did, I will make a sacrifice" And the cycle continues, until you get to what youre observing. People nowadays- "Omg that person is my age, but theyre so rich, theyve just been handed everything. Why couldnt i have been born into a rich family?" MATE, that persons family sacrificed GENERATIONS ago, long before you were even born, the real question is, Will you sacrifice for your family? Will you accept your position in your family tree? Will you CHANGE your family tree for the better? Lastly, it all starts with you, and just as importantly, it can literally all end with you.

@personmcdudeguy

Жыл бұрын

​@@shanty6953 or maybe their parents got it from government grants from the GI bill and redlining and cheap housing. Some families are able to trace their wealth back to slavery.

Unfortunately retirement is fucked up everywhere on the planet. I live in Germany where retirement is based on solidarity system, workers pay in and retirees get paid from current contributions, not their savings. This system used to work because there were many young people for every old person, but that's not how the population is structured anymore. And an individualist system has no chance to work with the current life expectancy either, you're supposed to work for 35 years and save for 35 more years, which is ridiculous. And a transition generation gets a double burden, because I have to pay in the solidarity system but there's no chance I'll get anything but crumbs in 35 years, so I need to save for myself as well. And triple if your parents think that having kids was enough of a retirement plan and it's on you to pay their retirement from your paycheck.

I retired early at age 58. I decided I could live with less money if it gave me more time to enjoy my life. Screw those politicians who want us to work forever. Try doing a job with physical labor and tell me to work 45 years.

@Cub__

2 жыл бұрын

Good choice, Amen. Do you have a family or is it just you?

@briangarrow448

2 жыл бұрын

@@Cub__ I am fortunate enough to have great kids who have gone out of their way to help me with my retirement. I live on my son’s farm, in a grandfather’s apartment built into his new barn/shop. I have grandkids and pets just steps away from my apartment, along with home cooked meals when I want them. In return, he gets my huge collection of tools and knowledge of how to use them. It works for all of us.

@HallyVee

2 жыл бұрын

Medical insurance? That's my main concern after mortgage gone.

@Dysfunctionality15

2 жыл бұрын

I'm glad you got out of the grind. As much as I love my job, I really don't think I can do this for 45+ years.

@briangarrow448

2 жыл бұрын

@@Dysfunctionality15 My father’s best buddy at work died less than two months before he retired. That caused my dad to say “to hell with working until I cannot enjoy my life!” He retired immediately after that and got 12 years of great retirement before he passed . His attitude was you can always find a way to make ends meet. But you only get so many days on this earth. Retire as soon as you can.

Not that this has a lot to do with this but my grandmother had recently passed away at the age of 60. I remember speaking to her months before her death and she was talking to me about how she thought she'd be able to retire by now, just to find out the legal retirement age had been pushed back 5 more years (at the time of my knowledge) which I thought was absolutely egregious given she had been working even when I was a baby (I'm 22 now) and was already pretty up there in age at that time anyways...I never recalled hearing any news about the retirement age being raised, let alone it being raised by a whole 5, now almost going on 7 years. I cannot put into words the amount of rage and anger I have felt for how the U.S. treats their citizens, even moreso the poor and marginalized; I was raised to believe that there is a social safety net for the old and the unfortunate in our country...yet as I grow older, I find that is horridly not the case and it has only ever gotten worse. I know I'm not the only one that's dealt with a case like this; but to anyone out there that may have a similar experience of inequity for those you love and care about, working day and night just to have their spoils ripped away, know you are not alone.

Served my time in the US Army.. Invested in $TSLA... Gonna retire in 10 years at 50.

Human physiology means most will be forced to retire. My Mother in law went on the disability after age 65 and got a doctor to sign it off.

@Dyvon.dynamo

2 жыл бұрын

On a fixed income, with rising rents and costs of living and yet huge cuts to both disability and social security. They can't earn any more than a certain amount without fear of losing that help.

@Praisethesunson

2 жыл бұрын

@@Dyvon.dynamo But there will be plenty of fly by night old folks homes to steal that fixed income for the capitalist class.

Easier to imagine the end of the world than the end of wage slavery for the working class

@MishaFlower

2 жыл бұрын

You mean easier?

@hyperrealhank

2 жыл бұрын

@@MishaFlower yep, fixed

You have a solid point that the poor do not live as long as the rich(4:27). They do not have access to resources in order to make it past 60. Healthy food is pretty hard to come by in some areas of the country.

@justagirl7780

2 жыл бұрын

I can’t find grass fed and finished organic meat and I live 2 miles away from 2 Whole Foods 2 plum markers 1 Trader Joe’s a weekly farmers market and all the other lower end grocery stores.

@justagirl7780

2 жыл бұрын

I live in one of the highest educated cities in the country. This country as a real issue.

…at 53 now, I’m so very grateful how I’m able to be work free for a little over a decade now and still be able to live in a leafy town in the Bay Area. But as what they say health is wealth and how I wish that was my case, hence giving up my much loved inflight career. It was a blessing in my case for I was able to take care of my father with his battle with cancer and when he passed I was able to be with my mother and help her get through by taking charge of her household in order for her to continue her work that she loved until she was ready to retire at 83 yrs old over 3 years ago. We are now still enjoying our time every moment we can.

*Fighting 8.5% inflation (more like 35%) with a 1% Fed funds interest rate is like stopping a forest fire with a bucket of water. Folks prepare accordingly. Make investment in other not to depend on the government for funds*

@sherrydubay7386

2 жыл бұрын

it's best to trade on Cryptocurrency, I've been trading since the dip and I've made so much money trading.

@suzanne7285

2 жыл бұрын

They have really made a good name, please how can I contact the Charles Schwab?

@suzanne7285

2 жыл бұрын

@SAMMIT Thank you for this, Will definitely reach out to them. Thanks again 😊😊

@SCh1m3ra

2 жыл бұрын

I'm sorry, they've gone to full-on bot *trains* now? Jesus christ KZread.

@justcommenting4981

2 жыл бұрын

@@SCh1m3ra yes. I read OP and 2nd post like hmmm...stupid or bot? Scrolled and yep. Bots all the way down.

All the while our lifespans are getting shorter year by year

Tbh I’m not yet at an age to start worrying too much about retirement, but my plan has always been to die in my fifties. I had three relatives in their 90s- one died last spring- and seeing their slow decay and pain killed me. With the way I’m taking care of my body compared to them, I’ll probably reach their level of health around 70.

Never retire. A retired: tree is lumber turkey is dinner flower is trash The goal is financial independence, not quitting on life. Yes, no one wants a manual labor job after youth has passed, but those who retire & think they have won are 1 step away from death. I have lived & worked in 2 RV parks, the places elderly people go. Those with vibrant work past 70 lived longest. Those who checked out on activity were all dead by 80. We are not designed to stop contributing to life. Do so & the exit door will snatch you.

I'm already retired at 42. Not cos I'm flush but because screw the man. The system failed me, so I will only take from the system and use my time and energy to help people where I can. Right on.

@skeletontoes7692

2 жыл бұрын

Amen my friend

@nathanbriggs8753

2 жыл бұрын

How?

@melindagallegan5093

2 жыл бұрын

Are you using things like disability benefits etc?

I pulled the retirement money I *did* have (not terribly much, but not a drop in the bucket for retirement purposes) to pay off my student loans and I just finished that this week actually. I always tell the retirement planning people at work I don't care to invest since it depreciates so hard in value and also nobody my age is gonna retire when we get there.

@TheModdedwarfare3

2 жыл бұрын

My retirement plan is uprooting capatalism because it seems more possible.

@rickb3650

2 жыл бұрын

Don't listen to the salesmen pushing this scam, you are right. As all salespeople always do, they leave out the salient details when they aren't just flat out making crap up. It's much harder for you to do today, and will become ever harder as time goes buy, but the only reliable financial plan is to take every penny you can accumulate and converting it into real assets, things that actually exist. I got lucky a couple of times and made some money gambling in the so called markets (stocks and commodities), but it was all luck and I did what every financial advisor will tell you is impossible, I timed those risks and never forgot that enough is actually enough. And each time I did get lucky, I took that money and bought real things that will always be valuable regardless of what happens in the casino.

@saywhatnow57

2 жыл бұрын

@Rachel Forshee This only applies if you tried to retire during a two-year window out of like 60 years... And even then, it was like a great depression. You literally could work at Walmart for two years as a greeter to make up the difference. People complaining about that just didn't have real retirements to lose to begin with.

@18booma

2 жыл бұрын

Using your retirement fund to pay off student loans is probably a good idea, but you should still put away some savings now that it's done. Even if you don't end up using it to retire, you might end up using it for other stuff... like you did. It's just an all around good idea to have some savings if you're living in a capitalist society (like we currently are). If you want things to change and retirement funds to become redundant, then join a local workers or socialist movement and fight for the change. The rich powermongers are not going to change our society for the better, we must do it ourselves.

@fartface8918

2 жыл бұрын

@baber0015 a portfolio recovering after a crash need lage amounts of money and luck to do so and even after paying out in the best case its not a better output then just useing the money on things now like student loans

Add technological displacement, and outsourcing to the mix, and it's a party. ....for the rich.

I have no intention of retiring. I love what I do and I cannot imagine ever quitting working.