Based on the scenario, here are my *Top Five* for this couple: #1 Don't retire in San Fransisco. #2 Don't retire and *then* have kids. #3 Don't retire at 34. #4 Don't retire when you still owe more than a third of your net worth to a mortgage. #5 Don't put all your money in bonds.

@aenorist2431

2 жыл бұрын

Didn't even get into the video yet, just curious how someone this retarded survives late stage capitalism in SF?

@williewonka6694

2 жыл бұрын

Basically, don't be stupid.

@captainsisko7629

2 жыл бұрын

and don't get married, I am sure the the husband wanted to down grade life style by his wife wouldn't let him

@nemeanlioness

2 жыл бұрын

I was shocked when he said San Francisco. duh, yeah the failed

@stefan6412

2 жыл бұрын

@@nemeanlioness They should have retired to Florida or Texas. With their Income they could live there like kings.

The second you said San Fran I knew it was doomed

"They lived in San Francisco...." You could've stopped the video right there.

@circusfreakRob

2 жыл бұрын

Right? Priorities...work an extra 10-20 years, or just move one state over and live like a king.

@choreomaniac

2 жыл бұрын

Yea. They could have retired to Mexico or SE Asia for 7 years on 70k a year and let investments compound until principle was doubled.

@justSTUMBLEDupon

2 жыл бұрын

Exactly. I mean if they wanted to live there they needed to keep working until 45

@live4yourself_

2 жыл бұрын

lol exactly

@MrAvant123

2 жыл бұрын

Like saying you must live in Chelsea in London !

I hit $5m at 50 years of age. No debt and kids are self-sufficient. I didn’t want to retire, but I did quit my job since it was high pressure and so stressful. Instead of doing nothing, I found a job that I enjoy and challenges me. I’m having more fun than I ever had and still feel productive and a net contributor to society. For me, this is the ideal solution.

@caseytanner9887

2 жыл бұрын

@walker b - Do you mind if I ask what you do for work now?

@dickritchie2596

2 жыл бұрын

Congratulations. You are luckier than most.

@jamesb95

2 жыл бұрын

I’m on the exact same trajectory as you. I’m 47. Did your 5M include your house? Just curious.

@nigelchua

2 жыл бұрын

yes and yes - congrats!

@Heatranoveryou

2 жыл бұрын

A solution to a problem you shouldnt have when retiring. Most people probably would find another job but its suppose to be for fun after youve retired not necessary.

I’m sorry, but if you can’t live on $250k of passive income a year, your living above your means, and need to cut back.

@DavidMedic447

2 жыл бұрын

100%

@sct4040

2 жыл бұрын

I can definitely live on 250k per year, even in NYC. My expenses are very low, and will only need 25k. This couple isn't very financially savy, quite embarrassing for them being both in finance.

@ralphmowery2898

2 жыл бұрын

@@sct4040 I guess that it is what you call living. I live in a small town in the south and around here you are lucky to make $ 50,000 a year when working.

@archmad

2 жыл бұрын

it;s already a mistake if you need it.

@RiverWoods111

2 жыл бұрын

They lived in San Francisco CA. The cost of living there would make living on $250K impossible. They are also probably sending the child to private school, and to be honest you would be hard-pressed to live on that amount in that city. It is ridiculous. I don't know why they are choosing to go back to work versus just moving someplace with a better standard of living.

"..... unplanned pregnancy in retirement ....." Now there's a phrase I never thought I'd ever hear.

@justme9723

2 жыл бұрын

🤣

@williewonka6694

2 жыл бұрын

Stupid people don't seem to be able to retire.

@kw9494

2 жыл бұрын

When you retire from your job or business, you should retire your Banana also. LOL.

@feliciavale4279

2 жыл бұрын

Well when you're in your 30s

@ThaGreatestAlexander

2 жыл бұрын

dude, spoilers

I read that story about the couple that had to come out of retirement because they weren't making enough anymore and they're crazy. Who in their right mind retires in the most expensive city in the entire United States? I read some of their expenses. $30K for private school for their kid? $2K a month for preschool? Look, if you don't want to retire, that's fine. But no matter how much money your nest egg brings in, you can outspend it if you decide to live like you're an NBA player!

@hwiley8141

2 жыл бұрын

Exactly. Makes no sense.

@goat2601

2 жыл бұрын

And yet they still were pretty close to making it work on a $3m nest-egg. Honestly it's just pretty validating for my own goals, couple mil invested and a paid off house in a MCOL area should be fine.

@xandercorp6175

2 жыл бұрын

With a mortgage, no less lol.

@eddiemalvin

2 жыл бұрын

If they just followed #1, they would have been fine.

@goliathonscave9834

2 жыл бұрын

With $3 Million they could have done it if they put their money in an index ETF such as SPY/VOO which averages at 14% annually over the last 10 years. The common quoted annual average for SPY/VOO is 10% but I consider that outdated. Regardless, at even a 10% annual return, they could withdraw $20,833 monthly for the first year and still have room to account for inflation and portfolio growth.

#6 TIP Don’t try to retire early in one of the most expensive cities in the WORLD with only 3 million!! Go to Utah, Oregan, Colorado, 🇨🇦, 🇨🇷. You can’t have it all.

@wwz1011

3 жыл бұрын

+10 and then add to it they are in debt for the home. Live in fly over country and a very nice home might be $200,000. Debt increases your retirement income. And you have to reinvest your earnings. You can't spend all of it. The earlier you retire, the more exposure you need to equities instead of bonds, to give you GROWTH.

@123456Ramboy

3 жыл бұрын

Live in an asian country

@KK-sg5gl

3 жыл бұрын

Or just pay off your home first and then retire?

@brandonjuber3576

3 жыл бұрын

Utah, Oregon, and Colorado aren’t as cheap as some might think. Denver, Salt Lake, and Portland are pretty damn expensive.

@sandyseibelhager7131

3 жыл бұрын

@@KK-sg5gl Yep, that's our plan.

My 5 "downsides", now that I've been retired for 3 years. 1. Have to sleep in until 8AM every day. (took a year to stop waking up at 04:00). 2. There is no need to EVER drive during rush hour or in the dark again. 3. If it's raining or snowing, stay home. 4. more time to plan and execute results in more efficient use and amplification of resources. 5. No more coworkers or bosses.

@JJ-nu8qi

2 жыл бұрын

Sounds like a weight lifted off the shoulders.

@surfingtothestars

2 жыл бұрын

retiring from the chocolate factory must have been a difficult choice

@jtstar10

2 жыл бұрын

Now, you are the Boss!! 😎 Cheers 🥂!!!

@fasteddie328

2 жыл бұрын

And no need for suits and ties, a lot less gasoline and toll charges, no gifts for bosses and co-workers....

@texasboy5117

2 жыл бұрын

When I retired 8 years ago, I got my new calendar; it has 6 Saturdays and 1 Sunday. If don't get it done today, there's tomorrow. I also lost my alarm clock. As we go out to lunch twice a week; my biggest problem is what to order. We love to travel and spend part of our income going to nice places. The only real issue is health.

First mistake is to retire in SF 🤣 find a smaller town with affordable prices and good health services, make sure you have good health insurance

@kennywesley

3 жыл бұрын

💯

@dustinreynolds1552

3 жыл бұрын

Seriously trying to retire in san Fran is crazy

@ralphmowery2898

2 жыл бұрын

I don't know what health insurance is now , being retired, However about 10 years ago it was going to be about $ 1000 a month for just me and the wife with just a medium policy. Probably much more now.

@retireAnyAge

2 жыл бұрын

exactly haha

Retirement is wonderful if you have two essentials - much to live on and much to live for. Invest wisely and get good returns.

@wilsonjudson1650

2 жыл бұрын

thank you, can you give a pointer the best investment now ? i am thinking of getting stocks or cryto

@dorissteve912

2 жыл бұрын

The key to making money in stocks is not to get scared out of them. An important key to investing is to remember that stocks are not lottery tickets.get a financial assistant

@dorissteve912

2 жыл бұрын

I currently work with Tamara Diane Hagan a financial expert i met in a seminar

@fredrickconte6270

2 жыл бұрын

I recently watched Tamara Diane Hagan on TV , such a great speaker . but have you made any profit whatsoever working with her ?

@dorissteve912

2 жыл бұрын

I have been able to make maximum profits off my trade with $40,000 and I have amassed about $190,000 in net profit In 4 weeks

I retired "debt free" at the age of 62 5 years ago. My wife retired two years later. We have yet to touch our retirement savings. We are having no problem just living on the Social Security. Seems to me like too many people don't know how money works. Sad really.

@watajob

2 жыл бұрын

Same situation as us. We're also blessed with small pensions. We're living very comfortably and still saving, too.

@calvinlim9485

2 жыл бұрын

You might want to review what RMDs would do to your income and see if it's worth it to optimize withdrawals now to take advantage of the lower tax brackets. Just because you take it out doesn't mean you have to spend it.

@toddmaek5436

2 жыл бұрын

I would like to learn from you.

@columbusmark608

2 жыл бұрын

Yup. And to think that the example in this video was an "investment banker". HA! HA! HA! HA! HA!

@free22

2 жыл бұрын

@@columbusmark608 Investment bankers always want to look like they’re investment bankers though. So it checks out.

KISS, after 1st year of retirement re-evaluate and adjust. They were very high income earners and unlikely stay retired anyways.

I am retired with about $200K a year in passive income. It’s more money than I can spend. The differences between me and the couple in this example? 1. Worked until age 66. (My full Social Security retirement age) 2. All four of my children are adults with established careers. 3. Zero debt, including paid-off home. 4. Moved from Northern California to Texas when I retired.

Excellent video. Thank you

Watched and liked, thanks!

Their biggest mistake was living in SF without paying off their house. Sorry but you will have a hard time in retirement if you don’t have a paid-off house.

@travis1240

3 жыл бұрын

I don't know. I think it's possible to do that if you factor in the mortgage into inflexible expenses. This couple clearly miscalculated on a number of things. You need to measure several times before making a cut and they cut before measuring.

@NadyaPena-01

3 жыл бұрын

@@travis1240 the thing is that if you don’t significantly reduce the cost of your housing (by paying off the house) then as inflation and cost of living goes up, your retirement money gets shorter and shorter. Housing is usually the biggest expense so cutting that down as much as possible is a great way to secure retirement. I agree that the couple made several miscalculations though.

@ariefraiser140

3 жыл бұрын

Lot's of people easily retire without a paid off house.

@NadyaPena-01

3 жыл бұрын

@@ariefraiser140 OK. And that’s why lots of people struggle in old age. You can retire anytime whether mortgage-free or not but It’s going to make things harder as expenses go up and you’re not working but still have a mortgage to pay.

@ariefraiser140

3 жыл бұрын

@@NadyaPena-01 Sure thing Nadya....I don't believe you know what you're talking about.

I retired at 53 thanks to my wife. It wouldn't have been possible without her company stock plan because it far exceeded the 401k we both have. She is six years older than me and was sick of the day to day grind but we had no clue if our savings and investments would be sufficient, we finally went to a financial management meeting and we make all decisions for a profitable Investment and prepared a plan for our early retirement. We should have done this years ago but never considered that we might ever have enough to retire early and I thank God and my wife for the ability to do investment . We are now financially stable with everything paid for and we have a good health insurance ! Don't wait time is something we have in short supply and no amount of money will buy you more.

@jamahmohammad5795

2 жыл бұрын

Starting early is the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time.

@futurnekedesin9172

2 жыл бұрын

I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.

@Soboj-oy8me

2 жыл бұрын

Profitable Investment one can do convenantly at this moment are

@Soboj-oy8me

2 жыл бұрын

: Estate : Share : Stock

@emmawelder3154

2 жыл бұрын

Forex trading is really profitable, investing in it now will be the wisest thing to do especially with the current rise in bitcoin

This Vid has been very enlightening to me . Ty a lot.

The best financial retirement advice I’ve been given. Learn about and begin following the 4% rule.

They retired before their home was fully paid?!?!

@KK-sg5gl

3 жыл бұрын

Yeah that wasn’t smart...biggest expense and you keep it around?

@erniesmith2579

2 жыл бұрын

House being fully paid is irrelevant. It’s a matter of assets and cash flow. Many people pay rent, or mortgage, in retirement. Your cash flow simply needs to accommodate the housing costs. If retiree has a fixed mortgage, it is a fairly controlled cost (with maintenance being somewhat unpredictable, and taxes higher risk).

@m777socialmedia4

2 жыл бұрын

@@erniesmith2579 it depends on where you stay, In Hong Kong and Singapore, your pre-retirement income will not be able to keep up with the increases in housing prices which have quadrupled over the past 30 years (and accordingly rental costs). If San Francisco is like that as well, unless you're lucky and savvy to invest your cash, renting on day one of early retirement is a sure way of going into bankruptcy. I have seen a few live cases.

@hwiley8141

2 жыл бұрын

@@m777socialmedia4 but they were not renting, they had a mortgage. And that should only increase slightly due to property taxes going up. Your mortgage doesnt increase just because housing in the area quadruples.

@m777socialmedia4

2 жыл бұрын

@@hwiley8141 Good point there.... I don't think floating interest rates would have hit them given the time period.

Being 60 and how to manage the sequence of returns in those early periods is what seems quite scary in the current market. The market is never a loser in a twenty year cycle, but the 2000s decade scenario scares me and could really disrupt my retirement. When you are no longer accumulating but withdrawing its hard to be anything but cautious.

@bobbygunz9254

2 жыл бұрын

I'm 50 and my husband 54 we both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Success requires market knowledge and we made a very good choice adopting a financial advisor Frances Claire Ryan.

@Natalieneptune469

2 жыл бұрын

@@bobbygunz9254 This is a good one. How can i get a hold Frances? i have a lot of interest in the financial market but the fluctuations in prices keep discouraging me

@bobbygunz9254

2 жыл бұрын

@@Natalieneptune469 Search her full name and look her up online

Great information. Thank you for your video.

very densly informative, good job!

LOL...My wife and I are spending $25k/year living a very nice lifestyle and we'll never run out of money.

@herbertjreid3rd253

3 жыл бұрын

What city do you guys live in?

@ryanp987

2 жыл бұрын

Uh you don't go on vacations I assume?

@tomj528

2 жыл бұрын

@@ryanp987 We go on at least 3 vacations per year to the Northwoods for fishing, visiting with family and friends while enjoying the peace, the quiet and the area in general. We enjoy it so much that we don't really have any desire to go anywhere else. We may buy or build a small lake cabin in the next 5 years or so but we're still mulling it over. I'm also keeping an eye out for a good deal on a van to convert to a camper van for traveling as well, but this really isn't a good time to buy a vehicle so I'm in no hurry. Vacations don't cost us much as it's just groceries and gasoline. I traveled the country as a child and we also like to watch travel programs so we've seen the world for free from the comfort of our living room. Every time someone we know returns from an overseas trip they're always exhausted and swearing "never again". Frankly, I'm not interested in climbing on a plane for a long plane ride and running myself ragged trying to "experience" multiple destinations and then another long plane ride back home.

@tomj528

2 жыл бұрын

@@ryanp987 I appreciate your perspective but there's really nothing that would draw me anywhere else in the world. Between family and friends I've seen the pictures, videos and heard all of their stories. Everywhere from Europe to Asia, Africa, South America, Cuba and even the Arctic, you name it, I've "experienced" it vicariously which is more than enough for me. Some of these "well-planned" trips often have several problems such as being hustled along, missed locations and being left off to shop for a few hours. One couple I know took a river boat cruise that was supposed to take them to Normandy to see the beaches and they ended up just being driven past on a bus. I used to think that maybe we'd enjoy going on a cruise but after seeing all of the problems there are and realizing that you're mostly sitting on a boat, eating all day it's clearly not our cup of tea. We'll take relaxing on the lake and having loons swim up to our drifting boat, seeing bears, wolves, cranes, eagles, osprey, foxes, heron and deer.

@ryanp987

2 жыл бұрын

@@tomj528 Sounds good mate, glad you are enjoying life. All the best

Back in their days (: "Early Retirement" meant retiring in your 50's, not 30's, and fully owning more than one property. IMO, Early Retirement is overrated. If you're the type of person who's productive and hard working enough to retire early, you're going to go nuts when you're retired. Focus on financial independence, so you can have the job you want -- and leave it if you want to.

@fraybart

2 жыл бұрын

So true.

@angrydragonslayer

2 жыл бұрын

I just stopped working rather than legally retiring 6 months later, i had a 70 hour week again...

@thedopplereffect00

2 жыл бұрын

@@angrydragonslayer "legally" retiring???

@angrydragonslayer

2 жыл бұрын

@@thedopplereffect00 here in sweden, being retired is a legal definition and you need to legally retire to access retirement funds

@stevesmith1512

2 жыл бұрын

You could always get good at fishing, golf, guitar, ...... choose your hobby. Playing with your grand kids.

Thanks, very helpful.

@jackykuk2458

2 жыл бұрын

Thanks for watching and commenting Don't forget to hit..... The subscribe button more info.... consultation....and advice...Text. Plus One Six eight Two Six Five One Four Nine Three One..

The ideal retirement "amount" for me would be to own a home, take it "off grid" / VPP income, and own an EV, after that, my expenses should be 30% of my portfolio income (based around the housing expenses being 30% of income), 50% would then be re-invested, and I would have 20% in "fun money" for entertainment. I could then subsidize any additional income needs by getting involved with ridesharing or other forms of "I'm bored, so let's make some income". For current market conditions, this would equate to needing $3,478,340 total and a portfolio worth $2,903,340. (Sadly, it will take roughly 61 years to get there, so I'll be able to "retire" once I'm 102 years old.)

A NICE VIDEO, EVERYONE OlNEED MORE THAN THEIR INCOME TO BE FINANCIALLY SECURED.THE BEST THING TO DO YOUR MONEY IS TOINVEST IT BECAUSE MONEY LEFT IN THE BANK ALWAYS END UP BEEN IN ONE WAY OR THE OTHER WITH NO RETURN.I USED TO BE A VICTIM OF SUCH,NOT ANYMORE.I INVENTED AND MAKE STEADY PROFIT.

@Marine40

2 жыл бұрын

The pandemic has taught everyone the importance of having multiple streams of income,unfortunately having a nice paying job don't mean you are financially free if secured.

@Marine40

2 жыл бұрын

with the consistent weekly profits I'm getting from my investment with Brenda Adams,I have no doubt I am really financially free and safe,she is the most reliable in the market now.

@jasmineadams5957

2 жыл бұрын

investments is that tiny line that separates the rich and the poor.the words from other.i can proudly say I am a wise woman to because I can provide for my family through my investments.

@jasmineadams5957

2 жыл бұрын

Ever since I stop working with my former employers,I have been surviving through my investment with Brenda adams,am so glad I invested when I did,months ago I was able to raise money to strat up my own firm.

@emmanuelosi8554

2 жыл бұрын

Brenda Adams,got you covered you don't have any needs to worry is to much.just to contact and all your worries are over your investment is safe with her.

My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.

@helenoliver4838

2 жыл бұрын

The key to big returns is not big moving stocks. It's managing risk to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.

@samuelreyes7156

2 жыл бұрын

Mine had always ended up with losses. could you help me with any tip

@danieljamal3709

2 жыл бұрын

Hello friend, I’ll recommend Vivian klaine Morgan for you, her strategies is working for me for months now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy

@samuelreyes7156

2 жыл бұрын

How do I reach her ,you got any possible means of getting more info on her services?

@danieljamal3709

2 жыл бұрын

Lookup with her name on the web, you will find everything you need to know about her service.

I didn’t see any in-depth discussion about health care insurance, in the US this is a big cost if you want to get the gold/platinum plans in the ACA and you have kids. You shared your uncle had stage 4 lung cancer, so did my mom. The cost of the chemo treatment in the US was $300k/yr. Most American’s even with $3M will easily go bankrupt if they get hit with a major illness.

Thank you 🙏

it's crazy to think that even with over 3 mill invested they still couldn't maintain a good life retiring early living in San Francisco. Gtfo of there.

*When you invest, you’re buying a day that you don’t have to work.. I pray everyone reading this becomes successful.*

@francisjason6137

2 жыл бұрын

Asset that can make you rich Bitcoin Stocks Real estate

@alyssaholt714

2 жыл бұрын

@@francisjason6137

@francisgarcia2398

2 жыл бұрын

Bitcoin is the true decentralized cryptocurrency to ever exist in the world. I'm actually new to trading in bitcoin and can say authoritatively it's an aspect of gaining financial freedom

@queendave9779

2 жыл бұрын

@@francisjason6137 Cryptocurrency is bringing different revolution in the world economy

@WilliamSmith-mp7ln

2 жыл бұрын

°°investing in crypto as a newbie was very difficult due to lack of experience which resulted in losing my fund ....but Eleanor Garcia emergence restored hope

Great video!!

Jacky you are very smart, thank you for this info

Omg…we are retiring in Portugal..and a place in Italy in 4 years….and my wife and I can live off €40k per year….and do nothing but play and travel in europe. Rule #1. Leave the usa

@deeh9563

2 жыл бұрын

I’m right behind you! Retiring at 55 cause I’m just exhausted by the grind. Ready to downsize & just live in some ease.

If you can't retire on $250k per year, you'll never retire.

It’s not your income that makes you wealthy , It’s your spending habits! I’ve learnt if you live in a non materialistic world you’ll be in a happy comfortable place, You don’t need a Rolex,panerai or Apple Watch Think about it we all have a phone that tells the time, A Gucci,Chanel bag,any bag carry’s your shit, A Ferrari Porsche any car gets you from A TO B Don’t spend your money on shit to impress people that you don’t even like, Life is not a competition! Create life memories stay humble be happy

Retire with a mortgage at 34??? Without a vasectomy??? In San Francisco???? I see three strikes…..

Just my humble suggestion, they could invest $3.3M in dividend paying stocks that pays between about 4-5% and make about $132k - 165k per year and never have to sell their principal. 😊

@mpgleisten3

2 жыл бұрын

I have the same idea but that's considered quite risky if they were elderly. One large market dip and they could get squeezed into having to sell at shares at a low price. Their fixed income, bond approach made sense for low-risk elderly people but they were still young. I think they could have tried the dividend approach considering their situation

@MikeyPaper

2 жыл бұрын

@@mpgleisten3 why would you sell your shares at a low price? do you know anything about stocks? look at what happened during the 2020 crash. Most blue chip companies rebounded and went EVEN HIGHER then they did pre March 2020. If you pick solid blue chip dividend paying stocks they usually rebound. Dont sell off your stocks just because the market dipped. Wait for the rolleroaster to end and then get off. Dont get off midway.

@mpgleisten3

2 жыл бұрын

@@MikeyPaper you clearly lack reading comprehension skills or are a very badly programmed bot

@therealbuba

2 жыл бұрын

@@mpgleisten3 if their income is coming from dividends the market prices become irrelevant, blue chip profitability is not nearly as volatile as the stock market

Thank you Jacky! This was an other great video, packed with useful information. And why did I not know that 1 in 2 Canadians will develop cancer 😲

They're thinking too conservative in a city that is overpriced ... They're not even keeping up with inflation at those rates

One of the biggest issues people frequently live in houses larger than what they need. My brother is a fine example renting a five bedroom house a few of the rooms are not used he has to pay a maid to help clean due to its ridiculous size. The house I purchased 1200 square feet three bedrooms on a half acre, people mock it for it's size. At the end of the day I like to remind those individuals is bigger than the house they "own" as they are still renting larger than what is required. icing on the cake it's paid off

@thedopplereffect00

2 жыл бұрын

"has to pay a maid" um... pretty sure he doesn't have to and is just to lazy to clean.

"They lived in San Francisco..." That pretty much tells the whole story why $250K passive income was not enough....

@mariabarker2036

2 жыл бұрын

"They lived in San Francisco...." In a house not yet paid for, and decided to have a child, to boot. Not only did they not downshift, they accelerated!

I immediately knew this was going to be Financial Samurai. Trying to retire in San Fran while spending like they did...yeesh, what a bad plan.

Increasing withdrawal rate (inflation) is heavily dependent of the person/people and their age. The younger you are, the more important as you age you don't need as much. So blanket statements like you need to up your withdrawal to match is only true in certain(important) scenarios but for non-FIRE or late-FIRE it is not.

@jackykuk2458

2 жыл бұрын

Thanks for watching and commenting Don't forget to hit..... The subscribe button more info.... consultation....and advice...Text. Plus One Six eight Two Six Five One Four Nine Three One...

I find myself in a fix right now and I need proper advise. I have a lump sum of around $600k, an inheritance, sitting in a savings account right now doing absolutely nothing at all. I wanna get something started with it but I need guidance on where and how. You seem to be doing excellent for yourself. How do i achieve this?

@brunohart9744

2 жыл бұрын

If your investing experience is less than 10 years start with 5-6 portfolio. don't bet big on any single company, learn the process first.. initially diversification is not that bad, it really worked for me in initial years. Remember that protection of capital is a must.

@franceslynn3257

2 жыл бұрын

@@brunohart9744 I can attest to this kind of investment mindset, I was never patient and due to I am an aggressive investor, lost heavily but a friend who works at fidelity investment connect me to a F.A that managed my portfolio from $97k to $225k in 5 months.

@michealjoseph3460

2 жыл бұрын

@@franceslynn3257 I have a keen interest in day trading and does this advisor/manager offer long term service for retirement?

@franceslynn3257

2 жыл бұрын

@@michealjoseph3460 She goes by the name *Jessica Meador Jones* . She offers services across various investment scheme and management i suggest you drop her a mail on her business web-page.

@militaryunit4145

2 жыл бұрын

@@franceslynn3257 That's one heck of a broker and a solid recommendation. She has been influential to the success of a lot of traders even here on KZread.

Once you have SS,40K/ IRA, +++ your saving / investment. Hopefully your have a house too. This will make you retired comfortable. The only thing concerning is the the body health.

With 3 M at 34, sell home in California and move to a low cost of living state, 250 K is crazy

Can you explain the 3rd mistake? I don’t really understand how interest rates going down affect them.

Investing is buying yourself a better future you don't have to work hard again.

@leonardwonderman3854

2 жыл бұрын

You can say that again.

@leonardwonderman3854

2 жыл бұрын

I have achieved many things in my life since I started investing.

@jasmineheidi1427

2 жыл бұрын

What kind of business, or investment would you two motivational speakers suggest to your audience?😊

@andstewart9982

2 жыл бұрын

@@jasmineheidi1427 I'm into real estate investing.

@andstewart9982

2 жыл бұрын

@@jasmineheidi1427 it let people grow their net worth by amassing more and more properties. It is a good long term investment due to appreciation.

Never withdraw all the interest and dividends. Keep reinvesting the dividends and interest in order to compensate inflation

@jackykuk2458

2 жыл бұрын

Thanks for watching and commenting Don't forget to hit..... The subscribe button more info.... consultation....and advice...Text. Plus One Six eight Two Six Five One Four Nine Three One

@FireFox-eu1hq

2 жыл бұрын

@@jackykuk2458 scam for sure

My goal is to reach 3mil, then 5mil. I will need to set up a new plan after that. Let see if PLUG, GEVO, FCEL, OPGN can get me there or not, and how soon.

I believe you can also file POA forms at your local county court house. Be sure they are notarized.

@user-zw2wf2fg7i

2 жыл бұрын

❤️❤️📥

@user-zw2wf2fg7i

2 жыл бұрын

+̇①⑥⑥⑨ ②⑤⑧ ④③⑥③

Retired with a 7 figure portfolio and Receiving about $53k in dividends. I have been in the Stock market about 20 years. Am I worried? Am I selling? Absolutely not. I have purchased growth stocks too a little at a time over the past few weeks. I am going to sit back and observe how this all plays out, adding more at a time. my investment strategy actually calms me down. Eye on the prize, stay the course!

@cristinabaker5292

3 жыл бұрын

what route did you take? how can one invest more efficiently? help. sounds like you got something going for you. I am new at investing and really want in

@zacharyblount5282

3 жыл бұрын

@donaldkrayburn7477

3 жыл бұрын

Buy Vanguard mutual funds, especially S&P 500 and some balances funds. I am retiring at 57 with government benefits including pension and medical insurance.

@dontbanmebrodontbanme5403

2 жыл бұрын

You're retired and 100% in the market? Hmmm...that seems risky. So I've got 10 years to go before I retire. Technically, I shouldn't be 100% in the market either. I should be a little less risky. However, I'm more aggressive because my wife has a super great pension and we could live off of that alone. Knowing that allows me to be more aggressive, because worst case scenario, I can wait for the market to recover. I know Jacky talks about not following rules exclusively, but if I didn't have my wife's pension (she also has a retirement account as well) as backup, I'd follow the rule where you're only supposed to have 20% of your money in the market and the rest in safe investments. What stocks are you investing in? From my understanding, the thinking is, long term, investing in the market (specifically a fund that matches the S&P 500 Index) will always give you back 10% over any 30 year block of time. However, you might go through a period of time where your money drops. When you're 38, no problem, you weren't retiring anytime soon anyway. At 68, you might have to find yourself a part time job!

@shadowninja6689

2 жыл бұрын

@@dontbanmebrodontbanme5403 Not OP, but I'm in the early to mid stages of pursuing the same strategy as OP. Bottom line is the alternates to stocks for retirement just don't look great on a long term basis. * Interest rates are so low that you're often losing money off of Bonds, or barely making any real return. Worse yet, if interest rates eventually go up the value of your bonds go down, so they're doubly bad. * Real estate is risky for all the reasons mentioned in this video, not to mention being a landlord over a bunch of tenants is a big hassle. * Crypto currencies just look like a giant bubble imo. And they have significantly more risk than the stock market since there's nothing of value backing them. And they're way too volatile to plan around a few decades of retirement in any reliable way. * Selling stocks (via the 4% rule) is risky because what if you're forced to sell in a big recession to fund your lifestyle or pay for a major expense? You'll burn through your portfolio faster. It also opens the risk of running out of money before you die. * And Cash just loses money to inflation when it sits around doing nothing. Dividend stocks in high quality businesses with a moat (or dividend focused ETFs) just look like a safer bet imo. You'll likely beat inflation via dividend raises, and if you have enough dividend stocks you won't need to sell any investment assets to pay for your lifestyle. Some stocks will eventually cut their dividends yes, but that's why people either 1) invest in dividend growth focused ETFs, or 2) invest in dozens of individual companies so that any one dividend cut won't harm you too much.

That just shows you, maintaining wealth is all about information, planning, execution and review. If master these, you are good to go

@jackykuk56

3 жыл бұрын

Thank you for watching" For help on how to grow your investment/portfolio' 💌T•e•x•t•• m•e///W•h•a•t•s•a•p•p•• +1••{2•2•5•}•7•2•6•6•1•4•2•••

@howtoadultschool

3 жыл бұрын

For sure, we all need to find a way of learning more about managing finances on a more detailed level. There's so much nuance to it that gets glossed over by general 'rules' of finance.

Retire somewhere in SE Asia. Quality of life is pretty good and $250,000 has the spending power of almost 1 million.

Bond was great at one point in time because it had a very good, decent yield but not anymore.

This couple obviously did not think through their retirement plan very well

Spend 250k a year? Do they have a Butler? 😂😂😂😂

@sct4040

2 жыл бұрын

Yeah, don't understand spending 250k per year at all.

The special levy could easily happen with a single family home; the boiler breaks, the roof needs to be repaired, you need new windows…..at least in a condo, those costs are spread over a large group of owners

@user-zw2wf2fg7i

2 жыл бұрын

❤️❤️📥

@user-zw2wf2fg7i

2 жыл бұрын

+̇①⑥⑥⑨ ②⑤⑧ ④③⑥③

But this video made me more tensed as I got more confused now about what to do (can i talk to you please as i get stressed out a lot thinking about these things)

@jackykuk56

3 жыл бұрын

Thank you for watching" For help on how to grow your investment/portfolio' 💌T•e•x•t•• m•e///W•h•a•t•s•a•p•p•• +1••{2•2•5•}•7•2•6•6•1•4•2•••....

I have no sympathy for well-off people living lavish lifestyles and complaining they don't have enough. I retired at 38 and make 80k a year and I live well without having to lift a finger.

@rinzler9171

2 жыл бұрын

And I do this while living within my means, not pushing the envelope.

So...California is a terrible place to try to retire early. Imagine that.

@jmwichert8842

2 жыл бұрын

That's why income tax is high there. They know the savvy ones will bail to a lower cost location to retire.

I can understand retiring at 50 and maybe 40, but 34. Think about how big there portfolio would have been by working 10 to 15 more years and enjoying life at the same time. 45 to 50 is still very young.

All these people that keep saying the 4% rule is no longer valid for a 30 year retirement based on one instance in time have me questioning what assumptions they're using. Are they assuming someone retiring today will face the same market conditions in year 10 or 15? If they are then they don't u derstand the 4% rule. The rule looked at starting a 30 year retirement every year throughout the early 1900s till the early 90s. Market conditions significantly worse than what we face now such as the economic meltdown of the great depression and the high inflation period of the late 60s through 70s. Much harsher economic conditions than today....And guess what? The rule still held up. The creator of the 4% rule even came out himself and stated the rule should really be the 4.5% rule assuming one adds some small market stocks to their portfolio.

@mikespangler98

2 жыл бұрын

I looked hard at the 4% rule. It failed four times, 1917, 1937, 1966, and 1967. All four times high inflation just after retirement is what finished it off. All four times cutting spending to 3.5% would have saved it. Half the time the 4% rule ends up leaving you with more than you started with. Michael Kitces blog has some great data on that.

Their solution is simple....don't stay in San Francisco. Always amazes me when people let where they live dictate their retirement as opposed to moving to where their retirement funds provide them a MUCH better life.

@zacharyneilson9220

2 жыл бұрын

If all your friends and family live in a HCOL area, the quality of life gains from retirement may be offset by losses due to being isolated from the people you love. I personally would prefer to work a bit longer and still be close to friends and family than retire earlier in a place I don’t know anyone.

@emt52889

2 жыл бұрын

They might have many friends and large family still there.

@tomm8025

2 жыл бұрын

@@emt52889 - Yeah, I hear that from a lot of people. Then you ask them, how often do you actually see your kids...."Well they're busy working....blah, blah, blah". Ends up being a few times a year, if that. People often make excuses to suffer in their self made situation. You know how the West got so populated? People left where they were for a better opportunity (not even guaranteed) for a better life. They made a long rough and potentially dangerous trek for it. They left family behind in many cases. They were smart enough to go were things could be better. In this case, they know they could have things better. You'll make friends wherever you go and old friends can visit and you can visit "home". And you WILL be able to afford it with all the extra money you have. But to sit in a bad situation and make excuses for not improving it draws little sympathy from me. What is funny, is how many of these people who suffer to be near friends and family later complain when their friends and family move on to better their lives. It's an irony I have seen often.

@tomm8025

2 жыл бұрын

@Krioque - I bought a $1M home......but I bought it 22 years ago for $160K!! 😜😜😜

@AT-lp8qg

2 жыл бұрын

@@zacharyneilson9220 That's true but they can move to close by cities that is more affordable but still within driving distance. For example, South San Jose, Morgan Hills, Richmond, Fremont, just to name a few. Since they not working anymore, commute is not a factor. Those places are still expensive af, but the cost of living can be more affordable than SF. You get bigger house for the same price, or lower price for the same size as a place in SF.

I've been following Sam and his blog for many years. I think it's hard for him to not feel productive. I have a friend like that as well. I wonder if people with that kind of personality can ever feel satisfied in early retirement.

@John-ep4in

3 жыл бұрын

It's easy to be productive outside of a career. But some people can't disassociate the 2.

@ariefraiser140

3 жыл бұрын

Sam is not representative of the average FIRE person and a number of his advice is just rediculous.

@KK-sg5gl

3 жыл бұрын

Practice mindfulness and watch your anxiety about having to keep busy melt away.

Thank you for posting this helpful video.

One could also make some lifestyle changes. I find the older I get the less I need. I have a few passions that I focus on a the rest isn't important. Don't try to keep up with the Jones' and dont buy things you dont really need, that really helps with money as well. Maybe downsize or buy a cheaper, more reliable car, refurbish, reused, all these things can help you to safe a tonne of money in the first place if money gets tight for whatever reasons. There is only so much planning you can do. The world has become a bit more fragile as of late and a lot can happen in 20 years you cant account for. If you can be financially agile and be flexible with your lifestyle choices then you have a winning recipe.

My ideal portfolio would be one that meets my financial needs for the rest of my life, I’m currently investing for retirement.

@jamesowen9384

2 жыл бұрын

Then you should probably ensure your portfolio contains the appropriate balance of growth, income, and capital preservation.

@oliveredwards2793

2 жыл бұрын

The reason more people don’t retire millionaires is because they are more focused on their short goals and enjoyments than planning for the future.

@henryjones6303

2 жыл бұрын

My stocks and crypto portfolio are enough to get me an early retirement.

@jackholley4286

2 жыл бұрын

@@henryjones6303 Good Choice buddy, It’s best you have someone on your team who understands the market and can help you identify lucrative positions to earn from. It’s easier that way.

@amberhills5296

2 жыл бұрын

Identifying great investment can be tasking

Great topic - and thanks for covering this. I'm a Financial Advisor in the Bay Area and unless someone has $10M in investments/savings, they realistically can't retire early as 34 in the Bay Area. If that couple with $3M was willing to leave the Bay Area and move to a much lower cost area of living area (think Mexico), they'd probably be okay. But in the bay area - retirement at 34 with $3M?? It's really hard to pull off

@wanderingdoc5075

3 жыл бұрын

I'm a 36yo M.D. radiologist. I have a $2MM portfolio of mostly real estate and some cash (very little paper assets). My real estate pays me $130K in net income per year. I often travel overseas and don't spent more than $50K a year. Very happy and healthy. I'm getting offers in email for $800K as a civilian radiologist. However I want to early retire in 2023 to travel the world and learn Mandarin. You think I need $10MM? 🤔

@jip230

3 жыл бұрын

@@wanderingdoc5075 before making the decision to retire, talk to a CFP(r) who can properly assess your situation and give you customized advice. The answer is likely 'no' for many of the reasons outlined in this video. Also you're leaving the workforce during prime years, your life will likely change dramatically over the next ten years and you'll probably encounter something (illness of yourself or family, sudden financial loss, natural disaster) over the next fifty years that'll likely blow you financially out of the water. Even living abroad people need a large financial nest egg and multiple sources of income. Working right now sucks, I get it - but I see too many people committing financial suicide by leaving way to early and thinking meager savings/assets will pull them through the next half century. It won't. Going back to work after being 'retired' for ten years is unlikely for many in most fields - people will have to take jobs that earn considerably less and they don't like. Being just a 'millionaire' isn't enough unless you're retiring in your 60's

@teacheschem

3 жыл бұрын

@@wanderingdoc5075 - What about a couple months of traveling and then taking that $800K?

@wanderingdoc5075

3 жыл бұрын

@@jip230 thanks for that advice. If I stay in the West I intend to be single and if I have a family I will be raising it in Taiwan which is probably three to four times cheaper than the US. Do you still think I need 10 million?

@wanderingdoc5075

3 жыл бұрын

@@teacheschem yeah I was considering something like that. I'm not the type of person to regret not becoming super rich or "wasting" 15 years of training in a high paying profession. I am more of a explore the world try different things kind of person. And once you're a doctor, you're always a doctor even if you're not working as one in my opinion. One option to be worth 6 months as a tele-radiologist or locums and take the other 6 off.

I''ll never understand why people insist on holding bonds paying 1% when they could just sell crazy far OTM puts on SPY and make 2-3%

@therealbuba

2 жыл бұрын

Because the second requires an understanding of how options work, most people who buy bonds can’t be bothered to learn.

Couple trying to retire at 34 with $250K a year BEFORE they have kids and have purchased their home and likely wanted to continue their millionaire lifestyle... in San Francisco? And their investment is heavily in bonds? LOFL! They didn't need a financial adviser, they needed a psychiatrist!

250k a year not enough for retirement, reminding me of NBA player Sprewel rejecting 7m a year contract because it would not allow him to feed a family. It is more about showing off than real financial advice for normal people.

I am able to retire or will be financially independent when 1. my passive income equals my employment income, 2.so this means I have enough money to continue investing for the rest of my live. and 3. I have no debt.

@jedpittman6739

3 жыл бұрын

*ONLY* if the passive income is growing and has a big buffer. The problem here was that the passive income seemed fine to start but then started going down! You Must Have a growing passive income stream. That is, you are only using say 80 percent of that money and then adding 20% to what you are investing!

@devotionalganangal

2 жыл бұрын

Why not use the passive income u r earning to invest more and retire a bit later so ur dividends are a bit more than current income. I would go for twice the annual income while staying in the same expense range. That way, half ur passive income can be reinvested to keep it growing while being comfortable in retirement.

@evelynsaungikar3553

2 жыл бұрын

@@devotionalganangal If you live that long! If you love your work, sure. But, putting off enjoyment, until retirement, may mean never doing those things at all.

Thank you for sharing your knowledge with us all.

Diversify diversify diversify!

@jackykuk56

3 жыл бұрын

K:i:n:d:l:y :te:x:t:+1:2:2:5: 7:2:6:6:4:1:2: W:h:a:t:s:A:p:p:

Don't talk of retirement when you still have liabilities Don't talk of retirement when you don't have a good source of generating money It will be better you invest on something that can mutiply your little cash

@brucegeorgetown2994

3 жыл бұрын

How do you think it is possible to retire without having liabilities? I definitely agree with you on the aspect of investment

@stellabrighton4323

3 жыл бұрын

How can one have a good investors

"Seeing such a large shift in the goalpost when you don't want to take more investment risk is disconcerting" -the couple said in the article. Clearly, investing in fixed income comes with its own risks... In fact, you can be almost certain you'll lose purchasing power over time.

@pfeilspitze

2 жыл бұрын

Yeah, I know too many people who only "invested" in CDs, and that means basically no asset growth.

@Robynhoodlum

2 жыл бұрын

I heard that and I stopped taking this “investor” seriously. I always subtract inflation from expected growth to get true wealth growth.

@darylfoster7944

2 жыл бұрын

Fixed income at any age is insanity, but especially when you're young. I'm 64, just retired, and have 40% of my money in Tesla. I could live to be 100. Why would I want my purchasing power to shrink year after year? Most people are clueless about investing. They don't teach it in school, and the parents don't teach their kids because the parents don't know it.

@davidbiran4572

2 жыл бұрын

@@darylfoster7944 How do you feel about 40% in Tesla now? Not arguing if Tesla is a good investment or not (though I am somewhat doubtful) but the idea of having 40% of your entire portfolio in one company seems almost foolhardy to me, especially when you are no longer earning. ( I'm retired and aged 72; the largest single investment I have is less than 25% of my portfolio, and is a fund which holds 30 different companies).

You never have enough to retire. Because if you have enough to even consider retiring, then you likely have a lifestyle that you can’t afford. Where I live, average income is $23,500 a year. People here wouldn’t know what to do with $250,000 a year.

@mariabarker2036

2 жыл бұрын

Neither did the couple in question, apparently.

All I had to hear was that they retired in San Fran, add the fact that they still had a mortgage and that was all I needed to hear.

After 7 years, $250k is still plenty of money with inflation.

@retireAnyAge

2 жыл бұрын

yes. They need to work on their lifestyle inflation.

One mistake is putting any money in an interest bearing account. That’s just losing money, so actually it’s not a safe investment. Just stick it all in a no load index fund.

@ld4974

3 жыл бұрын

"Just stick it all in a no load index fund". That's easy to advise at the top of a bull market. The market was down 48% in 2002 and 56% in 2009. That's real money when you have a million dollar portfolio. Just saying.

@cber5077

3 жыл бұрын

@@ld4974 the market took a huge hit 3/20, but if you weathered that and left the money in, you’d be way ahead by now. These funds out perform managed funds. Just buy it and close your eyes :)

@ld4974

3 жыл бұрын

@@cber5077 You are right - in theory, but losing a half a million in the market over several years is easier said than done. Good luck.

@tsuba14

3 жыл бұрын

@@ld4974 i think the context is important. if you need money in 2002, then it's difficult. if you can weather out the downs without withdrawing from the principal, then it's a different case.

@machoopichoo2

3 жыл бұрын

Totally agree...just get an ETF. Bonds suck.

San Francisco’s dirt is probably made of gold. I thought Golden Gate bridge looks golden but it looks rusty. But don’t forget to bring flowers when you visit SF Cal. SF is not just about money. It’s the weather. 😂 😆

those are strangely low returns for investments... 5% choices in the market are still extremely safe. and indeed why aim to retire in San Fran?

@jackykuk2458

2 жыл бұрын

Thanks for watching and commenting Don't forget to hit..... The subscribe button more info.... consultation....and advice...Text. Plus One Six eight Two Six Five One Four Nine Three One

Good points - spread is key. My formula - and the one I recommend - is 1/3 real estate, 1/3 fixed income (social security, pensions etc), 1/3 stocks etc. Real estate offers inflation protection, fixed income allows "aggressive" investment of fungible money and not having to draw on investments during market head winds (harmful), stocks assure a good return together that adds to your long term real estate appreciation.

@na_man7989

2 жыл бұрын

Hi quick question if you have a minute. When you said that you don’t have to draw your investments during headwinds I assume you mean your other 2 investment columns and that you just live off your fixed income during a bear market. If that’s the case then what do you do with the other 2 investment columns if this happens? Reinvest it at a lower threshold? Save it?

@meibing4912

2 жыл бұрын

@@na_man7989 Yes, get along with the fixed income stream by adjusting expenses or supplement with dipping into the real estate overhead with an additional loan if needed. The important thing is to avoid a sudden depletion of your high income stock investments. If you do a Monto Carlo simulation with no withdrawal for the two worst historical years your long term robustness - and thus your withdrawal rate - jumps significantly. On a more practical level I will only “withdraw” my stock earnings every half year and spend/invest more from that. If I go negative, I can start dipping into possible additional investments made previously and/or can adjust living expenses for the rest.

@na_man7989

2 жыл бұрын

@@meibing4912 Gotcha but one thing that doesn’t make sense is you dipping into your real estate overhead for an additional loan. From what I understand an overhead is just the expenses of maintaining a property but your dipping into it? Not sure how you do that unless your talking about the equity that you can take out on one of your houses which in a bear market would make sense if you can predict when the fall of the housing market ends and when the beginning starts which…….lol I definitely can’t😂

@ralphmowery2898

2 жыл бұрын

@@na_man7989 I do something similar. Being retired I get SS and a pension. Medicare type insurance. I have a good amount invested in mutual funds by an IRA. Like I told a man that handles the IRA at Chase , In good times I can take money from the IRA funds and eat stake, in the bad times I use my pension and SS to eat beans, but get by for a year or two while waiting on the market to come back. If you do not take out money from the market during bad times, it will come back. Just leave it alone in the bear market unless you feel like trying to time it and sell as soon as it starts to drop and buy back in as soon as it starts to go up. YOu just have to have very good nerves not to panic when you see a loss of close to half your money. Look at this year. Due to the virus the market fell way off for a couple of months ,but back better than ever now. My IRA handler calls me 4 times a year for a friendly chat. He called a week ago and told me my IRA was up 28% from this time last year. I have a certain amount I want to keep in my IRA . This year I spent about $ 30,000 out of it just to build a garage and buy an new lawn mower and still had the money I want to keep as a base . When I have to take the RMD from the IRA, I will probably keep about a year or two worth of cash in it. That way I will be able to ride out the bear market when it comes.

@na_man7989

2 жыл бұрын

Thank you for the input I’m 22 and I have a lot to think about before I make these kinds of financial decisions but every bit of information helps

The biggest issue I see is that early retired couple, both finance backgrounds, ends up planning to rely so much on very low interest passive income! They don't trust any higher risk investments??? In the last decade most ble chip stocks would have yield much better returns.

@anthonycapo1998

3 жыл бұрын

yeah seems like they mainly invested in bonds lmfao. 3 mill should def give you enough to retire anywhere in the country if invested right.

@RedScareClair

2 жыл бұрын

Jack Bogle made this point as well before he passed. Basically that its not really necessary to be super bond heavy like traditionally believed.

@bobfg3130

2 жыл бұрын

There's no guarantee that high risk investments will provide a greater income over time.

@gecko2000405

2 жыл бұрын

Yeah. Looking back that's easy to say....Especially looking at elevated P/E ratios.

@retireAnyAge

2 жыл бұрын

hindsight 20/20

The $250k passive income includes rental income. But it is unclear that those rental properties are morgage free. So, the $250k passive income may not be all going to daily spending, which everyone is assuming here. It may be going to mortgage payments. When interest rate lowers, they r squeezed at both ends -- mortgage rate in US is determined at beginning and won't drop but bond and interest from savings return will drop when interest rate drops. I guess that's what may have happened.

I'm in California and started buying LTC insurance when I turned 50 which will pay 9,000 a month. The younger you are when you start the lower the premium. A couple of years ago I also bought a LTC Annuity using 200k of my money. The carrier will indemnify me up to 7,900 a month for 8 years. So between the two I can afford a nice facility instead of one that just warehouses. I've seen a few of them and no thank you. A close friend died a number of years ago without a will. She was divorced, no kids, and I saw how difficult it was for her brother and sister (both in Canada) to settle her estate so I did my estate planning including the trust, will, medical and legal POAs etc.

They say that SP500 brings on average 10% a year, so 3 million would generate almost 300,000 dollars in passive income - that means 25,000 (dollars, right?) per month ! Really ?! I don't get it.

Retire without owning your home (mortgage free) is stupidity. Housing is your biggest cost.

@ariefraiser140

3 жыл бұрын

Lot's of people retire EASILY without paying off their home so using a blanket statement like that is silly. I would say that someone opting to grow their duversified stock portfolio at an average of 10% return per year instead of attempting to pay off a debt and placing all that extra money in a single asset like housing early at a savings of 2-3% annually is pretty damn smart.

I think this was Financial Samurai. Measure many times before attempting FIRE!

@jackykuk2458

2 жыл бұрын

Thanks for watching and commenting Don't forget to hit..... The subscribe button more info.... consultation....and advice...Text. Plus One Six eight Two Six Five One Four Nine Three One

My retirement investment tools would be a mix of... Property (Obviously not entirely owned by myself but with a few others looking to build wealth): -Family houses/townhouses/duplex -Defence Property -Student and/or Shared Housing Market: -Company stocks (either with long-term dividend potential or promising future growth) -ETFs -REITs (mainly for commercial property exposure) Other: - Bonds - Business Equity (owning small parts [5-20%] of various small to medium businesses. Even better when you make the businesses use each other) - Asset lending (E.g. buying a car and leasing it out to others) I'm not just planning this, I've already started. I've bought ETFs and Stocks as well as small business equity. Ultimately it would be great to own a farm stay and a Fiji resort too. The Fiji resort is purely a leisure asset. The farm stay would be great to live on as I could make most items a business expense rather than a personal expense, things such as personal house ("I'm not living at the farm stay, I'm merely visiting long term"), a car could be leased to me by the farm stay (also a good way of getting away with speeding, etc) and meals are all part of the "guest" experience.

If you still have a mortgage and/or student loans and/or credit card debt, you can NOT afford to retire. Get all these paid off before you ever consider retirement.

@jmwichert8842

2 жыл бұрын

CC and student loans should not be on the radar if you sitting on a seven figure portfolio. Mortgage should at least be accounted for in your planning. There may be situations where it's benefircial to have a mortgage versus making a massive withdrawal (and facing a big tax bill and penalties) from retirement accounts to pay for a house.

Love, love, love this video. I think about these things all the time (especially keeping inflation in mind). I still feel like I don't know enough and will never retire lol

@jackykuk56

3 жыл бұрын

Thank you for watching" For help on how to grow your investment/portfolio' 💌T•e•x•t•• m•e///W•h•a•t•s•a•p•p•• +1••{2•2•5•}•7•2•6•6•1•4•2•••

Actually... couldn't they have locked in a 30 year 2.5% interest rate cd...? Were they doing yearly

This couple made several mistakes that are quite obvious: 1- you are not financially independent if you have a mortgage, work until you have a paid for house 2- do not retire young in the most expensive state and city 3-keep your money in index funds not bonds. You’re 34 the market will rise dramatically over your lifetime 4-don’t retire if more than half your net worth is in your house 5-factor in inflation in your annual expenses at a rate of 3%

@user-zw2wf2fg7i

2 жыл бұрын

❤️❤️📥

@user-zw2wf2fg7i

2 жыл бұрын

+̇①⑥⑥⑨ ②⑤⑧ ④③⑥③

I like to capitalise my employment income, converting it into an income-generating asset-equivalent. If more people did this - viewed their active income as a financial asset - they would think a few times before retiring.