I so agree! Kevin from Canada

Agreed. Jim from UK

100% agree from UK

Totally agree Rod. You nailed it!

Excellent thought process Rod. 👍🏻. My neighbour has 2 porches and I’ve yet to see him drive both at the same time!!

Glad to hear from another buckeye! comfortable retirement depends on your lifestyle...

If i was in your shoes i'd consider financial advisory, you’re only 55. I think the average life expectancy in the US is 77.5 years, but many people live well into their 80s so that $1 million has to last you all of that and the unforeseen.

I agree. Based on personal experience working with a financįal advlsor, I currently have $2m a well-diversified portfolìo that has experienced exponential growth from when i started. It's not only about having money to invest in stõcks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.

This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.

She goes by "Melissa Elise Robinson" I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

Smart!!

Factor in spending the pot down to zero by a certain date (I for one don't want to die rich). Also spend more in earlier years as spending is almost certain to decline with age.

Exactly, I agree with that. I don’t need to die with all the money for family (do not have children or wife 😂) and beside that there also go a big part to Uncle Sam ( in the Netherlands) So I only need to have enough savings till 67 and after that I got my gouvernement + work built pension.

Your second sentence is incorrect.

@@jaiden033???

@@jaiden033 yawn

Take into account a state pension.

@@adm58 State pension in the UK is a Benefit , not a right - it is NOT guaranteed in the UK. regardless of how much NI you nave paid in over 35 years. Currently, you do get it - but it isn't necessarily going to be there for folk retiring in 10-15 years. If - big if, but is is being whispered in June 2024 - the UK administration adopts the Australian means-tested system, you may find you are not eligible for the state pension at all if your assets or income exceeds a certain total. It's quite concerning.

@@East_Anglian yes, I understand the rules can change over time. For the present though, the rules are as they are. No one can take into account how the world will be decades in the future. It Looks likely that CBDCs may well be imposed, closely followed by totalitarian control of all our finances and spending. The world could be unrecognisable in 20 or 30 years.

It’s actually a hotel, The Hotel Portmeirion, near Porthmadog in Gwynedd, North Wales

@@myfyrmadocjones Oh! Thank you. Added to my travel list. How exciting.

There is a hotel there, but it’s a whole village that you can visit for the day

@KevinOLoughlin-ys5ef Ha ha! Be seeing you, as well.

Totally agree Dave. I just added my post saying something very similar. I have been appreciative of the channel but this and some other videos have felt unrelatable for me. I think this is very hard to relate to and quite unsettling. It even came across as a bit self-congratulatory. The evidence from the office of national statistics shows that the median (middle of range) retirement fund at 64yrs is £107k on top of state pension. There is significant evidence that people with moderate funds such as £250,000 can live a fulfilling retirement. For a lot of the audience the assumptions of the 4 percent rule are totally out of reach. Neil has mentioned the 4% rule in passing before and always said he would come back to it. Well we have it here. But this is flawed financial advice. The fact that you are expressing worry here confirms my evaluation. Well done Neil and Sarah if you actually are millionaires. For most people owning your own home and retiring with that sort of money is totally out of reach. Honestly something about the patronizing style was a source of entertainment but I actually find the mistakes that they have made as more interesting and bring me back..but this one ended with Neil encouraging us to get lost. Welcome back Neil.

but also the average person won’t retire early, they’ll likely retire at state pension age so will get £12k pension, and as you say the average pension pot is £100k so that could give £4K income using the 4% rule. If you’re a couple then you’d be getting £12+4 x2 so £32k, which isn’t massively off the £40k Neil discusses in the video. Ultimately if you want to do extraordinary things like retire early, you need to do extraordinary things like understand your finances and put significantly more than the average into your pension.

@@victoriavicious8815 Ok right. So we are agreed then. It is about doing "extraordinary things". But hold on... much of this Boomer "success" was funded by an era of massive house price rises. The average UK house price has risen from £1,884 in 1953 to a staggering £260,791 in 2024. So if you bought a house, you had a defined benefits pension. And you made it. Well done. But nothing extraordinary about that. How would younger people achieve the same success now if they are less able to even save for a deposit? Quite a lot of Boomer "extraordinary" wealth will be passed on to heirs. And for the rest?

The video was an “example”. It began by saying your number will be different from my number. $4000 per month was an arbitrary number that equals $1M, convenient for calculating.

@@eloisepersson939 the video is entitled "Are you prepared?" and asserted 4% draw down increasing by inflation each year as the way to be prepared with an illustration of 25 x $40,000. These topics generate a lot of debate and controversy. The fact is that most people will never achieve anything like this level of wealth (indeed only around 1 in 10 retirees currently do so). The other controversy associated with this is the source of funds. Most boomers who owned property have enjoyed unprecedented house price inflation. The average house price in UK in 1983 was £27k and in 2023 was £283K; more than a 1000% increase and very much more in the South. The channel frequently states that they sold their house and so as for many this was the main source of wealth to fund the 2GoRoam lifestyle. Is that possible for people now? Absolutely not and many cannot afford to get on the property ladder. So how will they be prepared? Unless they start saving very early and benefit from compounding (probably in late teens and early 20s) they haven't got a hope.

Great idea 👍🏻

I'll check it out Doug, sorry!

Don't buy, rent! With regards, your landlord

?

@@DavidGray-cx5zh (30,000 subscribers dreaming of slow travel)

Great idea if you hate money

well done you

@@patoises I was Very Lucky .

multiply your expected required income by 25. 25 is used as in exchange of 4%. Based on the 30year 4% retirement model.

He gave out a formula how is it showing off ?

@@richiemcb the video is misleading and at points felt like scaremongering. One critical piece of information relates to state pension income. Reviewing this video alone would scare most people into believing they need £1M to retire and if they are not near that, then they are in trouble. However most people are 1/10th of the level he is presenting - and yes sure it was 'only an example' but the example chosen was totally out of the reach of most people (see below). Do we assume they have this much in their fund based on selling their house? It also completely failed to mention state pension. For example with 30 years of NICs you can get just under £10,000 a year of state pension and with a change in Government the triple lock looks safe for the next few years at least. This will reduce the $40,000 a year expense requirement he used to illustrate by 25% Also he says that most people watching will be near or at retirement age so how can they aspire to the level of fund he actually said "you will need to retire". Fewer than 10% of people actually retire with $1M (in USA). The numbers are lower in UK - the median retirement fund is £107,300 at age 64. The evidence shows that where people have a moderate fund plus state pension they can lead a happy and comfortable life. Of far more relevance for most people is how can they earn some extra funds into retirement to supplement the cost of living. It came across as mansplaining - "our goal is world travel - what's yours?". Most people's goal is having some simple pleasures in addition to living their life. Does it all come down to the affordability of Netflix? I think we would be more appreciative of content which was real - for instance they made a huge investment in a RV (often cited as massive money pit for retirees) and how is that going? Are they going to sell it? They are presenting themselves as fairly rich early retirees. They sold their house and are following the 4% rule. But... a lot of narrative is saying 4% is too high a withdrawal rate and could lead to failure (running out of money). Please do not present the 4% rule as a known fact (as doing so constitutes financial advice). It is based on fund performance in the 1990s. Their YT channel is intended to be a source of income. I think a lot of retirees would find this inaccessible and hard to relate to. Really not sure who the target audience here is.

@@daydreamer4902The video was not misleading. He was just using 40K as a round number. Personally if I retire early, I would probably withdraw 3% from my portfolio and keep a 3 year cash emergency fund.

@@daydreamer4902what’s interesting is an ordinary relatable bloke who’s put a lot of effort into researching for himself how to optimise his life. It’s the process not the detail that’s being ‘modelled’ here. Yes some of his ideas are a bit variable regarding application but it’s how he’s demonstrating how to start thinking about it that’s useful.

My hubby taught himself over a period of 5 years prior to retirement how to self manage our SIP investments in shares. He read the Economist and the Financial Times on Thursdays in particular plus the Business and Money sections of the weekend Times newspapers. He leant what to do, and since retiring has beaten many of the top Fund Managers in terms of dividends income. He was an Engineer- and loves spreadsheets. It saves us 1-2% in management fees which makes a huge difference. If you want a 4% share dividend income from your SIP pot you actually really need to earn 6% so you can give your fund manager 1-2%.