50% Of People Are Forced To Retire. This Rule Protects You

Рет қаралды 16,134

12 күн бұрын

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063B{TN}NE Half of All Retirees Face This BIG RISK The 5 Year Rule Protects Them

Пікірлер: 45

@tatianastarcic 8 күн бұрын

Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.

@berniceburgos- 8 күн бұрын

This is really amazing though. I'm curious as to how he did it. Was it real estate? Or he was a market enthusiast?

@tatianastarcic 8 күн бұрын

Haha. Investing enthusiast? Not really. Our family got introduced to a financial advisor about four years before my dad retired. That was what changed things. I've been using the same now and I think my retirement income would be on the right track.

@Michaelparker12 8 күн бұрын

I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

@tatianastarcic 8 күн бұрын

Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

@BridgetMiller- 8 күн 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 résumé.

@BrianW211 10 күн бұрын

Deferred gratification is the key to a financially successful retirement. When you force yourself to save and lower your standard of living to be able to save, you get two benefits: 1. You will have money when you retire. 2. You learn how to live on less, so if you end up with less for any reason, you can easily manage it.

@irenabe973 10 күн бұрын

Agism is very real in the US.

$@fractalelf7760$

@fractalelf7760 10 күн бұрын

100%. I work currently in a group where the oldest is 49 and I’m almost 59. Fortunately I look about six years younger but I can sense a bias even in a very good company culturally that supposedly embraces all.

@MidlifeCrisisManagement 9 күн бұрын

as is the trend of people raiding their 401k for dumb reasons. they regret it when they get kicked to the curb by the bean counters and can't find a job that pays anywhere remotely close.

@xlerb2286 9 күн бұрын

Agreed. I was laid off when I was in my early 50's by a (very) large corporation. It was common knowledge they wanted you out the door well before you turned 55 both because that's when certain age discrimination laws kick in and they didn't want the risk of expensive lawsuits, and also because their stock options/grant program had full immediate vesting of all grants and options when you turned 55 and that could cost the company many hundreds of thousands per employee. I landed on my feet though, I'd been planning on leaving in about 6 months anyway as I didn't like what the place had became. So I called a former coworker that was the VP of development at another company, told him I was on the market. And I had a better job (but not such good benefits) by noon. Salary was similar but the new company was a lot smaller and health insurance wasn't as good (the old company covered 100% of everything) and no stock options / grants or ESPP. So I took a financial hit.

$@fractalelf7760$

@fractalelf7760 9 күн бұрын

@@xlerb2286 Sounds like an easy class action lawsuit…

@MidlifeCrisisManagement 9 күн бұрын

it's always struck me as odd that so many people presume they'll get to work as long as they want. the 5-Year Rule is gold.

@liveandretireusa 9 күн бұрын

You're absolutely right. The assumption that one can work indefinitely is often challenged by unexpected life events or changes in the job market. The "5-Year Rule" emphasizes the importance of planning ahead and having a clear financial target to retire comfortably within a set timeframe. It's a prudent approach to ensure financial security and peace of mind as you plan for retirement. If you have more insights or experiences related to retirement planning or financial goals, I'd love to hear them!

@EdwinBoettcher 9 күн бұрын

My husband and I just run with the 4% rule to keep it simple. Save up enough that 4% of your total retirement savings would cover your expenses in retirement. As an example, $1 Million allows you to withdraw $40,000 per year (dividends on investments often pay about half of that). It's a simple rule of thumb, and we don't bother calculating things like Social Security, only what we save ourselves. We consider that as "extra" if we need it, rather than absolutely necessary.

@JeffWilliamfick 9 күн бұрын

i’ve been retired for 7 plus years and my wife has been retired for 5 plus years. So far we haven't used any of our $2.2m retirment money. We are having no problems living on just our SS. Being debt free is what makes that happen.

@RichardGeorge-pz3wm 9 күн бұрын

51 years old. I have $295k in my Fidelity retirement account. I increased my contributions to 35%. Fidelity only holds my ETFs/stocks. I made the modification earlier this year. I was aiming to finish the rat race by 60, but it seems more like 63-ish. I want to have $1.5 million and earn roughly $60k in dividends every year. Pedal to the floor! Thank you for the video. Great content.

@corrySledd 9 күн бұрын

I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.

@RichardGeorge-pz3wm 9 күн бұрын

I've experimented with a few over the past years, but I've stuck with the popularly ‘’Becky Lou Gordon” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

@corrySledd 9 күн бұрын

Thanks for this. Found her and looked through her credentials before contacting her. Once again many thanks.

@freddyhollingsworth5945 9 күн бұрын

Biggest thing I see derailing people is their spouse suddenly dies with no warning and the household retirement income is cut by 40% and or she retired at 56 and stayed on his insurance and he suddenly dies at 58 and she cant afford to pay to keep the medical insurance and has to go back to work till 65...

@crys2982 9 күн бұрын

This is how I’ve planned for retirement. The first goal is based on having to leave the workforce very early and have the basics available. Anything after that is for nice extras. Too many people assume they will be working to 70 or even older but the stats don’t support it.

@Will67267 10 күн бұрын

Once i reached my financial goal number, I retired in 3 months.

@liveandretireusa 9 күн бұрын

That's fantastic! Congratulations on achieving your financial goal and being able to retire so quickly after reaching it. If there's anything specific you'd like to discuss or if you have questions about managing your retirement or any other related topics, feel free to ask!

@pubmeatman 9 күн бұрын

I always thought I’d retire at 60. I had a physical job and I saw everyone with the same job retire in their late 50’s/early 60’s. Buy the time I was 58 1/2 I was burnt and out of there. I’m very fortunate my company had an excellent profit sharing program. That and living below my means made my retirement comfortable.

@OroborusFMA 9 күн бұрын

Multiple income streams, as passive as possible. I could lose my "real" job tomorrow and I'd still have three income streams to cover expenses.

@DanielHBuchmann 9 күн бұрын

I started investing in my 401k at 30 at 20%. Set it and forget it. 25 years later and have a decent nest egg. It can be done.

@liveandretireusa 9 күн бұрын

That's a solid strategy! Starting early and consistently contributing to your 401k over time is a proven way to build a substantial nest egg for retirement. It's a testament to the power of long-term investing and compounding returns. Your approach of "set it and forget it" reflects disciplined financial planning, which has clearly paid off well for you. It's inspiring for others looking to secure their financial future. If there's any advice you'd offer based on your experience with retirement planning or investing, it would be valuable to hear!

@DanielHBuchmann 9 күн бұрын

@@liveandretireusa I lost my job like a lot of people in 2008, and was literally digging ditches for 10 bucks an hour under the table with a wife and 2 year old at home, and it took a lot of will power not to dip into what I had saved. Same with covid, watching that balance keep dropping. But I just kept telling myself 'It's gonna bounce back', which it did, and the returns have been pretty great. I guess my only piece of advice would be, don't panic, let it ride and don't get too emotional during the peaks and valleys.

@williamread8186 9 күн бұрын

The hard way. Live in your Subaru Forester for a few years.

@ML-wo5sy 9 күн бұрын

Love all of your videos, I watch them all!

@livingworkingoutsidebox 9 күн бұрын

We are planning on slow traveling the world in 5 years once our daughter goes off to college 8:10 We are budgeting $1500 to $2500 a month staying 1-3 months months at a time in each country/ location. 😊💰👍

@L.A.6482 8 күн бұрын

Azul, what do you do when one marriage partner desperately wants to retire and spend more quality time together and the other partner says they can’t or won’t ever retire? What a disappointment because that’s what I had always envisioned for the end of my life. How do I get him to see the possibilities of a better more fulfilling future? But what if it’s not?

@brucelatham6636 9 күн бұрын

Pay off debt and put it in savings after you pay it off

@xlerb2286 9 күн бұрын

We're fortunate that we'd been saving/investing pretty heavily to make up for lost time and we maybe overshot the mark a little. When I found myself at 62 not liking what I was doing anymore we were in a financial position where I could retire. It took a little while to run through the plan and for me to decide whether it was time to retire. But a couple weeks ago I retired at 63. Not exactly way before I'd planned on retiring but it was sure nice to have that option to retire earlier than planned.

@WangOChon 9 күн бұрын

Yep, exactly what I did--every time I got a raise or a promotion, I increased my 401K contributions. After 25 years it started to add up, and both my wife and I were able to retire early. And you know what? We still drove nice cars and had nice vacations, but in moderation; for example, buy a good new car and keep it over 10 years.

@alfredyost7972 9 күн бұрын

My job is very physical. I like it but it is getting harder for me to do. I plan on retiring next year when I reach 62 years old. I do not want to get hurt and be forced into retirement with an injury. Thoughts?

@flicks28 10 күн бұрын

Many times, an international vacation can be less than a domestic vacation in the US. There are many great countries where it is very cheap to vacation too, even factoring in costs of flights.

@michaelt2974 10 күн бұрын

Impossible to accomplish for an average person

@sebbonxxsebbon6824 10 күн бұрын

Bad planning when you were young then.

@OroborusFMA 9 күн бұрын

@@sebbonxxsebbon6824 The problem is not one of planning when you consider the young are saddled with obscene tuition costs and the costs of housing and automobiles has gotten so crazy. You can't plan your way out of a broken system.

@drackkor725 4 күн бұрын

Hope to make it to my goals. Great topic.

@allenw1188 5 күн бұрын

You’re 50 30 20% rule as a joke people can’t even make their house payments with less than 50% Those rules that you’re suggesting are for rich people, not the common folk