I am so tired of the fear-mongering; that there is a Retirement Crisis; that we're all going to go broke, etc. Forget all that!
On this KZread channel I'l show you how to make successful retirement planning a reality, so YOU can stop stressing so much and actually enjoy this wonderful life you've been given. That's why I call this the anti-fear mongering channel because it's all fear-mongering, all the time out there and I'm sick of it.
Yes, we'll throw some sports, politics, a bit of "how-to, some prepping stuff, as well as some discussion on energy. But I do videos every day, so if you don't want to watch those, just skip 'em. No big deal!
So subscribe now and let's get started!
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I am not retirement age yet. However, non of my siblings who are retired have a million dollars. No where close. They are living there best life! California property taxes are not high if you bought your home years ago. Also, Prop 19 allows people 55+ to transfer the property tax base of their existing home to a new home anywhere in California. No state taxes on social security. They enjoy there healthcare. California is a big diverse state. You can live in big cities, really small cities or more rural areas. Not every city in California is extremely expensive. I thought I would need to leave California to financially retire. However, after really doing my budget I realize I don’t. If I retire somewhere else it will be for other personal reasons.
There is a young woman with the same video as she confuses assets with investments. She goes on about the money you spend for maintenance etc and how if you don’t sell it etc. I replied that assets don’t all increase in value. A new car is a great example as it loses 20% of value when you drive it off the lot but it is still an asset. Example you own your home worth $500k with a $100k mortgage and $100k in the bank. Your net worth is assets minus liabilities $600k minus $100k = $500k. Now you buy a $40k car and $50k kitchen remodel and put $10k toward the mortgage principal. Ignoring any increases or decreases in value your net worth is now $450k. Assets minus liability $540k minus $90k. Simple math. Your house is an asset as long as it is worth more than your mortgage. Same with the contents in the home, cars etc. they are assets. There is no discussion.
Parents are retired in California and doing fine. Able to spend time with grandson and spoil him. They have a small mortgage but it is at super low interest rate.
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Caffeine huh?, yeah that explains it...
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Thanks for your prayer!
I served on a jury for a civil case. A local low-income Mexican family won $100k in Vegas on a $5 spin on some game. They gave it all to a local financial planner to invest. They wanted to grow it for their young children’s college, and their retirement. Within 2 years it was all gone. So they sued. Hence the trial. He invested their money into Texas oil well wildcatters. Basically you give the crew $50k. They drill a well where they think they might strike oil. If they find a rich oil reserve, then it pays handsomely. Otherwise it’s a 100% loss. However, it pays great commissions to the financial planner no matter how it turns out. He is going to get 20%. So during the trial the mother and father are on the stand, crying and sobbing, telling in Spanish how their dreams were stolen by this evil man. How their sons will never go to college. Unfortunately for them, the planner documented his engagements. He explained the risks. It turned out they chose the riskiest investment option because it offered the highest return. They were gamblers. They won it via gambling. They lost it via gambling. We had no choice. We returned a verdict in favor of the defendant. We felt bad for them. And we did think that he did a horrible job and was self-serving. They were just in way over their heads.
Some have to retire earlier unfortunately… but we still complain. Lol
Like the article says, the figure does not count non-retirement brokerage accounts or real estate. It is hard to have over a million dollars just in retirement accounts.
Wow, I now feel less guilty about the stupid I have done in the past. Thanks Josh
I can't get that far into the weeds. Loner kid with family issues wanted to be famous.
He used the man way ladder
The dilution factor and proggressness of the SS benefit calculation: 1) Trying to push some of your early, lower earning years out of the top 35 years average requires a lot of work since each year gets buried in the 35 year average. 2) The SS benefit calculation is highly favorable to low and modest income earners and heavily “subsidized” by higher income earners, so while these values adjust every year, you only get credited 90% the first about $13,000 of your 35 year average income… then only 32% of your next about $67,000…. and finally, only 15% of your average income over about $80,000.
My FRA was 66 I waited till 68 and got $3140.00 on my first check that was after $ -140.00 for Medicare.
I’m 53 and high on life.
Taken aback by the annuity returns' magnitude. Having a guaranteed income at a level similar to this is intriguing because managing your own finances can be a chore and cause stress. The fact that nothing in life is certain is one problem. What happens if the provider of annuities fails? Naturally, let's assume that they are covered in this case, but is it really cast iron-most likely not?
During a market slump, you might sell your brokerage account while simultaneously buying back stocks or bonds in your retirement account. Bonds or money market funds in brokerage accounts do not necessarily result in higher taxes. My F.A. *Leah* *Alderman* *Foster* consistently devises a cunning plan that works for me.
Undoubtedly, the F.A. you mentioned has some value. I reran the scenarios after the first time, this time allowing for a 20% reduction in my retirement savings (in the event of a significant market decline). I felt reassured with my plan and my savings after doing that.
Inquiry How do I pick a financial counselor? Regarding Citibank wealth management financial services, what are your thoughts?
My 63-year-old spouse and I downsized seven years ago, and we paid off the mortgage two years ago. We are glad to be debt-free!
The one I use is always dependable and expectant; I don't really trust KZreadrs because they are just interested in topics that will profit them. If, for example, I had 100% of my stocks in my taxable brokerage and needed to take a 20% loss on the market, I would simply sell the taxable stocks and purchase stocks in my IRA the same day. For instance, I could sell $40K of taxable stocks (even if the market is down), acquire $40K of taxable stocks, and sell $40K of bonds in my IRA all on the same day. Money can be used for several purposes. Please elaborate on why that wouldn't function. She had never given me negative advice before, so please get in touch using the name that was searched if you care.
It is called “God’s Plan” Josh. You survived because the good Lord was watching over you. Cheers.
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I’m 44 and my net worth is $6m and I don’t feel wealthy
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Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Our daughter went to JMU and live right around the corner from Harrisonburg. Safe travels Josh and thanks for your videos!
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Good testimony,
Go Dawgs!
A few days ago SCOTUS overturned the 40-year old Chevron Deference case that can affect future Social Security regulations and benefits.
Josh, thanks for sharing.
Josh smoking weed n drinking alcohol as a teen?! Oh the humanity!!!! 😮😮😮😮
I and my wife own single home family rentals. we have $200,000 left on mortgages. We are now the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds. How does this work out?
Real estate is a solid investment but demands effort and lacks liquidity compared to stocks and bonds. Long-term market trends should guide decisions.
Considering the sell and invest option? It's essential to consult a reliable financial planner to ensure income projections align with your goals.
BTW Bad things don't happen to good people because there are no good people. There is no one good but God according to Jesus. There is none that are good. No not one. If we think we are good people it is our self-righteousness speaking where we have put ourselves on God's thrown. This violates at least the 1st Commandment if not also the 2nd Commandment.
Cute kid!
Josh you are very entertaining to listen too😊, you are giving me the confidence to retire early, will probably be reaching out to you next year sometime
2300$ a month plus pension
You turned to drugs and alcohol in your youth. I turned to food in my youth and now paying the price for it
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1:02:25 Taxing free speech is still a bad idea.
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My father was normal then he got the jab ,within months full blown dementia nonverbal .a few months after that he had five massive blood clots in his lungs. We were in the hospital and the first thing the doctor asked was as he had the jab?
"Jesus answered and said to him, “Most assuredly, I say to you, unless one is born again, he cannot see the kingdom of God.” " John 3:3
Josh - enjoyed listening to your story - you still managed to turn out ok. Even if we don't always see eye to eye on everything, I believe we share enough similar attitudes that keep me interested. I'm a GenX'er who grew up in a single parent household - my mom was widowed just a few weeks shy of my 7th birthday. My motivation in life was to not end up of like my father. I'm not perfect, but I'm the most successful person in my family, including all of my Pennsylvania relatives. I was an angry teen, but grew out of it and made smart decisions regarding my life, who I married, finances, and my career. To put it bluntly, I'm a choir boy compared to how I could've turned out.
Everything you mentioned was common for my crowd in the late seventies, all good now
Wow, that's sad, Josh. Glad you worked hard to make a good life for you and your family.
I felt older than I was ! Never came home and used to steal weed from my father. I think everyone is bullied at some point. Unless you’re blessed to be 6 ft. In 7th grade. Now I live in a retirement community and worry about my taxes.
My twin daughters lived in an apartment in Portland, Me when they were students at UNE. My late mother was born and raised in Millinocket. I’m a baby boomer. I feel fortunate as well to have made it this far.