Can I retire? What are common traits of those that cannot retire? Retirement Planning

Рет қаралды 894,787

Күн бұрын

4 practices I see in people not ready to retire. Financial Independence Retire Early. Retirement Planning. Can I retire.
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@sarawilliam696 4 күн бұрын

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

@PatrickFitzgerald-cx6io 4 күн бұрын

Things are a bit strange right now. Inflation is making the dollar weaker for buying things like basic needs, but it's getting stronger against other stuff. So, stuff like stocks, houses and precious metals aren't doing so great because folks are putting their money into banks for safety but I'm worried about my retirement savings losing value fast.

@brucemichelle5689. 4 күн бұрын

Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $400k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.

@foden700 4 күн бұрын

Thanks for replying, You seem to know much, How did you go about it and can you recommend an advisor like yours?

@brucemichelle5689. 4 күн бұрын

‘’Marisa Michelle Litwinsky” just check her out. It's possible to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.

@foden700 4 күн бұрын

I appreciate this tip. It was easy to find your coach's webpage by looking up her name online, She seems proficient considering her resume.

@Dr.SandraLee. 2 ай бұрын

I'm 48, sad to say I made terrible money decisions growing up which I'm presently paying for, been dedicating every waking hours towards my retirement and I'd really love to retire to Portugal with at least $3million by, the market up and down is not helping at all.

@MaryamMahboub 2 ай бұрын

I feel your pain, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $130k in passive diversified safe-haven assets, Up 200k so far and pretty sure I'm ready for whatever comes.

@Dr.SandraLee. 2 ай бұрын

How can one find a verifiable expert advisor ? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

@MaryamMahboub 2 ай бұрын

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

@Dr.SandraLee. 2 ай бұрын

I usually don't do well with online recommendations, but this Lisa Ann Moberly advisor seem to know her stuff, just went through her website and I booked an appointment.

@timtorkelson7201 Ай бұрын

Don’t feel like Lone Ranger on stupid or lack of moves! I’ll be ok, however had I played my cards differently I’d be retired! Definitely have my Son on the train track after pounding it for 5 yrs…401K & Roth calculators are great easy to understand tools

@oldtymer9106 Жыл бұрын

Don't retire if; 1) you have multiple credit cards with large balances on them. 2) Car/truck loans. 3) Mortgage payments. 4) You have no budget in place.

@boswellwhanau 2 күн бұрын

The mortgage is the big one. Get that paid off and you’ve got an asset that could potentially fund your retirement if you needed to sell it off. Get ridecof mortgage payments as soon as you can and that’s probably your largest outgoing bill removed from your monthly payments.

@gingerkilkus 10 ай бұрын

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

@lowcostfresh2266 10 ай бұрын

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

@TomD226 10 ай бұрын

@@lowcostfresh2266 I’m in dire need of guidance so i can salvage my portfolio due to the massive dips and come up with better strategies. How can I reach this advisor?

@darnellcapriccioso 10 ай бұрын

@@lowcostfresh2266 Hi Mate, please how can i reach this CFA of yours?

@lowcostfresh2266 10 ай бұрын

@@darnellcapriccioso My consultant is Laurel Dell Sroufe I found her on a CNN interview where he was featured and reached out to her afterwards. she has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven't regretted doing so.

@lowcostfresh2266 10 ай бұрын

@@darnellcapricciosoMy consultant is Laurel Dell Sroufe I found her on a CNN interview where he was featured and reached out to her afterwards. she has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven't regretted doing so.

@shirleys765 4 ай бұрын

I retired at 61 and am now 64. I pay my credit card off monthly. I bought a brand new car a little over a year ago and paid cash. I also don't have a mortgage. I have never lived above my means. Thanks so much for this video. Make me feel good.

@alexsteven.m6414 11 ай бұрын

I would be retiring or working less in 5 years, and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.

@edelineguillet2121 11 ай бұрын

At this moment, it is crucial for individuals to prioritize investing in alternative streams of income that are not reliant on the government, particularly with the existing worldwide economic crisis. Investing in stocks, gold, silver, and digital currencies can still be profitable during this period. Therefore, it is advisable to explore these investment options to secure one's financial future.

@bernisejedeon5888 11 ай бұрын

@@edelineguillet2121 Your money is stagnant when you save, I will advise you buy stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance of a broker or financial advisor.

@valeriepierre9778 11 ай бұрын

@@bernisejedeon5888 Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.

@bernisejedeon5888 11 ай бұрын

@@valeriepierre9778 Julia Ann Finnicum”is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@fresnaygermain8180 11 ай бұрын

@@bernisejedeon5888 Thanks for sharing this.I just looked her up on the web and your advisor looks advanced and experienced. I will write her an e-mail shortly.

@user-xp6sc6su9c 6 ай бұрын

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My Husband and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

@graywilliams_77. 6 ай бұрын

This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha...

@Greggsberdard Жыл бұрын

Great video Joe. Another factor to add: Do they spend a lot of time planning their financial future? I'm curious if people who went through the financial crisis in 2008 had an easier time than me right now. The stock market is making me really worried because I've lost over $ 27,000 in just this month and I'm not making as much money as I used to. This is making me concerned that I might not have enough money saved up for my retirement since I can't add to my savings.

@donaldblake9719 Жыл бұрын

stop gambling

@jamesrecknor6752 6 ай бұрын

SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM

@VictorBiggerstaff 16 күн бұрын

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

@crystalcassandra5597 16 күн бұрын

Could you recommend one?

@VictorBiggerstaff 16 күн бұрын

The advisor that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name, She's established.

@fashionbiz8658 10 ай бұрын

Interesting video. However, considering that I will be turning 55 in October, I have limited time for Fin. market exploration. I am seeking ideas and suggestions on which investments to acquire in order to prepare for retirement. This is particularly important given the potential threat of inflation. My goal is to accumulate at least $5 million by the time I reach 65.

@carterdesigns8985 10 ай бұрын

I completely agree with you! Having an investment adviser is definitely the way to go, especially for people who are nearing retirement. I've actually been working with a coach for a while now because I personally don't have the in-depth knowledge or mental strength to handle these market conditions on my own. Before, my portfolio used to fluctuate a lot, but over the past couple of years, I've been consistently growing my profits. It's gone from $500k to $1.4 million!

@carterdesigns8985 10 ай бұрын

Oh, my advisor is actually pretty well-known! It made it much easier for me to get in touch with her. Her name is 'Sharon Kay Hanna', and she has a web presence, so you can easily find more information about her by doing a quick search.

@jeffrosati2570 4 ай бұрын

SCAM ALERT!!!!

@ervinboeckers3451 4 ай бұрын

Keep 4 to 5 years cash. Rest invest in a S&P 500 ETF or a growth ETF. If market goes down you have the cash to live on. You also maximize your return with rest of your portfolio.

@absurdnerd7624 2 ай бұрын

@@jeffrosati2570 an yet you did not down vote any of the scammer's comments.

@Patriciacraig599 10 ай бұрын

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.

@Robertgriffinne 10 ай бұрын

@tommychestnut5335 10 ай бұрын

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

@Alejandracamacho357 10 ай бұрын

@@tommychestnut5335 I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.

@instinctively_awesome8283 10 ай бұрын

@@tommychestnut5335 please how can i find the lady you mentioned'?

@tommychestnut5335 10 ай бұрын

@@instinctively_awesome8283 Most likely, you can find her basic information online; you are welcome to do further study.

@powerseostrategy 4 ай бұрын

I'm 55 and never owned a credit card, no car payments. I own my home outright and can survive easily on $1500/month.

@charleswenn6088 10 күн бұрын

I retired at 55, with no debt. It's been 18 months, and I thank God all the time for helping me get to this point.

@wpujones 5 күн бұрын

Where do you live?

@charleswenn6088 5 күн бұрын

@@wpujones in the southern thumb of Michigan

@powerseostrategy 5 күн бұрын

@@wpujones Nevada by Carson City

@IrenaDolinsek 10 ай бұрын

The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.

@simonbad 10 ай бұрын

The key to big returns is not big moving stocks. It's managing risk in relationship 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.

@AstaKristjan 10 ай бұрын

@@simonbad Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.

@Erinmills98 10 ай бұрын

@@AstaKristjan Who is your financial coach, do you mind hooking me up?

@AstaKristjan 10 ай бұрын

@@Erinmills98 The coach I use is actually quite known, Jennifer Puckett Hunter, she has a wide presence on the web, so you can just search her.

@Erinmills98 10 ай бұрын

@@AstaKristjan She really seem to know her stuff. I found her online-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her.

@ClementRusso2 8 ай бұрын

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

@phoenixmode6909 7 ай бұрын

Millions? Really? 1.4 mil is less favorable than the multi millions your mom amassed? Okie dokie then. Unrealistic for someone who has been living in the mid/low income bracket all her life. And not sue to overspending or not working. So, not all of us have the ability to save or invest. But thanks for sharing.

@antonnohr 6 ай бұрын

It's unfortunate that many lack this information. I understand why people might panic. The lack of knowledge can be a significant obstacle. Personally, I've been generating over $33k passively through investments with an advisor, requiring minimal effort. Regardless of economic conditions, skilled wealth managers consistently yield returns.

@AlexanderDanielley 6 ай бұрын

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

@simpleman5688 6 ай бұрын

Both are blessed, as are you.

@jamesrecknor6752 6 ай бұрын

SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM

@Farmwald853 6 ай бұрын

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

@SallyW414 6 ай бұрын

Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?

@LagerthaJackson 6 ай бұрын

Well, I suggest you make a diversification plan because it's been harder to build a good portfolio that stays afloat since COVID. Personally, I garner knowledge from a brokerage Adviser whom I work with, and I've actually made over $350K with their help since February. Very effective defensive strategies are used to protect my portfolio and make profits despite the ups and downs.

@Fahima9Tazin 6 ай бұрын

@@LagerthaJackson I find this intriguing. Could you please provide me with the means to get in touch with your Adviser? I am concerned about my dwindling portfolio.

@Fahima9Tazin 6 ай бұрын

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

@westhavenor9513 6 ай бұрын

I don't think too much growth is one of our problems, quite the contrary

@Rachelschneider03 Жыл бұрын

In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The ownership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second quarter of 2020, it dropped from 68 to 65.

@ReidCoffman1 Жыл бұрын

Because they are used to bull markets, most people find it difficult to handle a decline, but if you know where to search and how to get around, you can make a sizable profit. It depends on how you plan to enter and leave.

@MariusNatt Жыл бұрын

@@AshtonGrace My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.

@MariusNatt Жыл бұрын

@@AshtonGrace I just copied and pasted Maria Teresa Tyler’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.

@mysongdownload Жыл бұрын

Obvious planned thread with Q and A

@glendacastillo6504 Жыл бұрын

You can retire if you don't have too many children, a high mortgage, car payment, or high credit card. I don't have a million dollars or 401k. What I have is 2 lifetime health insurance, 2 lifetime retirement from military and VA. 😂

@bobbytheblade2550 4 ай бұрын

We planned to retire in our 50's and began growing net worth in our mid-20's, Eliminating debt was a priority, The formula was simple: live beneath our means, save/invest. We became debt free in our 40's and fully retired in our 50's. We mostly kept quiet until retirement after raising 5 kids - all offered the opportunity for college. People were shocked. Today, we're pushing age 60 - fully retired and loving the life of security and abundance.

@RafaelGriggs 4 ай бұрын

As an investing enthusiast, I've kept aside a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being propaganda. Is this a good time to buy stocks, or do I wait for the crash?

@tightwad Ай бұрын

Law of diminishing returns at best in stocks. My crystal ball sucks but I know when a balloon is severely overinflated. 🎈

@richardspenard2663 11 ай бұрын

My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.

@JerrellHulme-kn8ue 11 ай бұрын

It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advsor.

@cyclone411 3 ай бұрын

I gave up on the idea of retirement when I was hit with a surprise divorce at age 58. Because I had to take out a new 30 year mortgage, and now carry both a car payment and the credit card balances I accumulated in the process of setting up an independent household (since the mortgage didn't leave enough equity to carry the other obligations). So, I have three of your 4 categories and the mortgage is impossible to resolve and the other two will also take some years to resolve. I will keep working as long as I can - which honestly is probably better for me mentally anyway.

@KatyMccullars 6 ай бұрын

According to the New York Times, the average savings of a couple reaching retirement is $110k I’m closing in on my retirement and I’m under pressure to grow my reserve of $330k, despite the fact the capital gains you can make on growth stocks far outweigh dividend yields, and even in downtrends folks still pull off 6-7figures gains in months. surely the risk is much greater, but I’d love to know how.

@MargaretMargaretKarjala 6 ай бұрын

I see no other way to maneuver, profit and steer off losses in this present market except with the aid of a coach.

@mark75700 6 ай бұрын

there're tons of avenues to capitalize on in a downtrend to make substantial gains, but these opportunities and trades are successfully carried out by pros.

@MargaretMargaretKarjala 6 ай бұрын

Thanks a lot! i got all i needed to know about returns on investment plans

@shirleneunglesbee1423 Жыл бұрын

Great video. We are all seeking for financial independence and a better way of life. This is not difficult to achieve with savvy investing, a frugal lifestyle, and cautious budgeting. I'm glad I learned early on to work hard for financial independence. As Warren Buffet said, he has seen this happen many times in his life. Not an investor, My husband and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock.

@glenbert1396 Жыл бұрын

Most people do not understand the power of compound interest or are just impatient. However, for the average Joe, I think it's better to invest in the S&P 500 and wait, which is reliable, albeit extremely long: many years, or just use an investment advisor and speed up your wealth creation. Most people underestimate the power of the latter.

@baileymclean8186 Жыл бұрын

@@glenbert1396 I agree with you. I started investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money with an investment advisor and in seven months raised almost $873,000.

@kansasmile Жыл бұрын

@@baileymclean8186 Any chance you can recommend who you work with for those of us who want to make the right plays now and be better positioned for a healthy retirement?

@baileymclean8186 Жыл бұрын

@@kansasmile Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "JILL MARIE CARROLL" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.

@kevoreilly6557 7 күн бұрын

All scammers

@brucesmith9144 Жыл бұрын

The most admirable quality I have seen of people heading towards retirement is that they mention sacrificing and living within their means. The earlier in life one learns this lesson the better it is.

@roshall8401 Жыл бұрын

You are so correct

@jesus.christis.lord.foreve899 11 ай бұрын

credit cards are the devil and the devil needs to vo back to his own home and leave all us alone . I help all I can to escape from his traps & kick him out to see the people rejoice at no monthly bills !!! (throwing $ in the trash = to the wolves) They have ao much more spenfing $ now. Yeah. It's awesome. : ) Getting rid of crazy expenditures = $200 att phone $250 plus cable That's thousands of $ yearly for their wishes instead of a stupid unnecessary bill

@thomaschew2191 9 ай бұрын

The sooner one starts to live below their means the better, but it is never too late to start. You might not totally fix past mistakes, but you can improve things a lot.

@br5380 8 ай бұрын

If you're single, when you die what you owe isn't anyone you care abouts' problem.

@AUstinnesc 11 ай бұрын

Planning retirement has never been this confusing! First SVB, then Signature bank and now First republic, these are all the signs of yet another 2008 market crash and recession 2.0, so my question is do I still save in the United States dollar, or could this be a good time to buy stocks? So I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here,

@corrySledd 11 ай бұрын

@@CLARA22123 true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.

@Aziz__0 11 ай бұрын

@@corrySledd Do you mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.

@corrySledd 11 ай бұрын

@@Aziz__0 I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with "NICOLE DESIREE SIMON" for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.

@Aziz__0 11 ай бұрын

@@corrySledd Thanks a lot for this. I really needed the recommendation, and I would love to move my funds from an existing mutual fund. I'll check her.

@lanceviott9885 8 ай бұрын

What value will gold have if the economy is absolutely tanked? Gold is not valuable because it's pretty to look at.

@Mr-sweeny 2 ай бұрын

I'm hoping to retire next year at 55. My goal next year is to be more serious and consistent with my investments I've been investing since I was 22. 2024 is going to be more serous for me investing consistently for the long term. starting to save for a house down payment. I want to invest more than $105k, but I'm not sure on how to mitigate risk.

@Nernst96 2 ай бұрын

Best thing you can do to derisk is diversify.

@PatrickLloyd- 2 ай бұрын

Its unclear which stocks and sectors will lead the market in the next uptrend. It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.

@PhilipDunk 2 ай бұрын

Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert

@hankmarks69 2 ай бұрын

Being heavily liquid, I'd rather not reinvent the wheel. Since this strategy works for you, how can I contact your advisor?

@PhilipDunk 2 ай бұрын

Her name is Amber Dawn Brummit can't divulge much. Most likely, the internet should have her basic info, you can research if you like

@TheFishdoctor1952 10 ай бұрын

If you are not disciplined with money, you cannot retire. Great video. These 4 common things are common sense which many people lack.

@stevensmiddlemass2072 11 ай бұрын

What is the possibility of making decent returns for short term investing? I've been reading success stories of people that make a total return of upto $75,000 monthly profit from their investments and I'd really love to know how to go about investing to make huge 5figure returns monthly.

@stevensmiddlemass2072 11 ай бұрын

who is your financial coach, do you mind hooking me up?

@stevensmiddlemass2072 11 ай бұрын

I just looked her up and her strength is very attractive, I will definitely write to her soon. Thanks.

@royhobbs785 Жыл бұрын

I'm 72 and my mortgage is paid, I have no credit card debt and owe about 4K on two cars that will be paid off by 1/24. I keep them in tip top shape by following the maintenance standards that my mechanic tells me. For the past 10 years I have allocated 3-4K in home repairs per year. It's important to not let the condition of your home get away from you.

@rabidconservative5431 10 күн бұрын

I turn 62 in one week. My family is not particularly known for longevity. No credit cards. I got a modest inheritance a couple of years ago that can pay off my mortgage and car payment, leaving me to survive on my modest 401K earnings and a decent SS payment. I live in a rural area with a low cost of living. I've crunched the numbers and they are tight but positive and would improve when I become eligible for medicare at 65. Management changes at the corporate level making my work life miserable have me itching to retire. But... I keep telling myself soon, soon, but not today.

@LunosG 3 ай бұрын

*I'M 50 YEARS AND I RETIRED AT 47. I WAS ABLE TO DO THIS BECAUSE I UNDERSTAND FOUR PRINCIPLES OF FINANCIAL PLANNING SUCCESSE THINK LONG TERM WITH GOALS AND INVESTING. SPEND LESS THAN YOU EARN. MAINTAIN LIQUIDITY(AN EMERGENCY SAVINGS) MINIMIZE THE USE OF DEPT*

@AmandaTkac 3 ай бұрын

Real fact I had a business preposition that turned out to be a mess due to that I feel into huge debt with words I realized I needed an investment expert. Like a pro to give me better guide on how to a begin a successful investment. I'm also open to good recommendations

@DennisJames-nl6jr 3 ай бұрын

Amazing to see here who invested with Mrs Ava Harry too, I also trade with her I get to earn biweekly trading income of by $45k pioneered

@Johnwhite46888 3 ай бұрын

Ava Harry's concept is key in beating all odds to excel in the form of online commodity,Her management team is quite impressive so far! With $5k I have made a profit of over $50k

@JerryCampbell-xb4nk 3 ай бұрын

My first investment with Ava trading platform gave me a profit of over $15,000 ever since then she have been managing my portfolio so well.

@KenDike-mz6rk 3 ай бұрын

@SheilaYilmas 6 ай бұрын

The current downturn in the market and the surge in inflation are causing me concern regarding my retirement plans. Despite these obstacles, I recognize that investing is a prolonged endeavor, and I'm maintaining my concentration on the future.

@ScottRich9 6 ай бұрын

Generating significant proceeds, especially during a bear market, requires the implementation of sophisticated actions, which are most effectively carried out by experienced connoisseurs in the market.

@OlgaRusov 6 ай бұрын

That's quite remarkable! I could certainly benefit from the knowledge and guidance of such guides.

@MarioRo1 6 ай бұрын

Stacey appears to be really knowledgeable. Her resume, educational history, and qualifications were all quite good when I found her internet page. She will act in my best interests because she is a fiduciary. I thus scheduled a session with her.

@johnscott2746 Ай бұрын

Scam thread! Please be aware!

@kingsboy1828 8 ай бұрын

Retire when there is something meaningful to retire to......

@bobdole7701 25 күн бұрын

Quit working is something special...

@ronl2463 2 күн бұрын

I lived with a budget for 50+ years so I don’t have to worry about my spending in retirement and after that long your spending becomes habit and you have to force yourself to spend on a “luxury”. Still have more money after 6 years of retirement than I started with and everything is paid for. Life’s good!

@kevin7151 Жыл бұрын

Excellent video and I agree on what was put forward. I retired at 57. My wife and I saved and invested early allowing me to exit the workforce when I did. House is paid off, kids college tuitions fully funded, have two late model cars fully paid off, travel extensively and do not foresake anything we need. We are not special and believe most people can do this with the appropriate level of planning and discipline. The key message I would communicate to others is don't delay retirement if you have the financial wherewithal to do so. Too often I have seen many people delay retirement and then experience health issues which constrain the very things they wanted to do post-retirement. Moreover, the most significant benefit of retirement for me is that I know longer have to deal with people I do not want to. That has proved to be the ultimate blessing.

@paulcastillo4587 8 ай бұрын

Agree with not having to deal with people. Retire sooner, live simple and low stress. I’m targeting 57 as well

@kevin7151 8 ай бұрын

@@paulcastillo4587 good for you Paul. Sounds like you made a right number of decisions over the long term that led to a successful outcome. Best to you and your family.

@stevenholt5484 8 ай бұрын

This man knows what he is talking about and I hope that everyone watching this really LISTENS to him. Well done sir, and thank you!

@dannyknapp515 4 ай бұрын

Very well said and I’m glad that I follow these guidelines . No debt at 59 now and cruising toward retirement 👍

@robb2069 Жыл бұрын

Best retirement information I have ever heard! Thank you!!

@mimicotom Жыл бұрын

I retired at 57 with a large mortgage and $40k in credit card debt. I sold my house in a large NA city, moved an hour away, bought a house for less than half, paid everyone off, and banked the rest. My advice: if you are waiting to be out of debt before you retire; you never will retire. Your day-to-day expenses will be lower when you retire. No more restaurant meals, no commuting to work, no more clothes to buy. BTW...my pensions are $60k/year. No worries here.

@irishjoe5868 11 ай бұрын

Thank you...good reply. I agree with the credit card debt flag but it is unrealistic for everyone to be mortgage free when they retire. I can't tell you how many people I knew who put off retiring only to pass away working their butt off chasing the "perfect time" to retire. Retiring means downsizing for most. Do it as soon as you think you are able. Tomorrow is promised to no one.

@Michael-Joseph123 7 ай бұрын

People retire debt free, I know I did.

@edcouto3711 Ай бұрын

@@irishjoe5868 Thank-you i needed to hear that

@aperson2020 Жыл бұрын

1. Credit card debt. Agreed. 2. Car payment. Depends. It may be their last car. If so. Ok. 3. Mortgage. If its low interest and low payment. Ok. 4. Budget. Most important. And a budget on a piece of paper is not enough. It should be a spread, managed daily and monthly. And should have controls. And you should be within budget. Else no point. 5. Healthcare plan. 6. Long term care. 7. A will or living trust. Thanks for the video. ❤❤❤

@joekuhnlovesretirement Жыл бұрын

Great content additions. Thanks.

@roshall8401 Жыл бұрын

Health care is the killer

@Michael-Joseph123 7 ай бұрын

Why is a mortgage ok if interest is low, I am semi retired, work part time, not out of need, but to keep busy, I prefer not to have a mortgage, I have been in my house long enough that one of my SS check can pay my property taxes for the year, and have a few hundred dollars left over.

@sammyday3341 6 күн бұрын

Thank you very much for your great presentation and advice, especially your concern about behavior regarding having a credit card balance.

@daveb2280 11 ай бұрын

Medical insurance and health costs are a problem for many retirees. I retired at 47. I was only able to that once I realized I qualified for 100% disability from the VA which includes free medical care. I only have $150K in savings but I have over $10K a month coming in tax-free from pensions (and I still have one more pension and SSI to collect). I still have a large disposable income and have my car paid off and never carry cc debt. My monthly budget (including a low interest mortgage) is $2,500. I'll be 55 in a few months. My best advice to anyone wanting to retire is to do the actual math. Math will determine when and if you can retire.

@stephendibari5010 Жыл бұрын

Words of wisdom. I’ve carried CC debt for many years. Was debt free in 2018 and ran up cards again until paid off half in June 2022 and then finally all paid off in Jan 2023. Embarrassing to say how much debt it was nTurned 59 last month and can’t retire until at least 62 but projected to be 64 1/2. Definitely a behavioral issue, wanting stuff “now”, living above my means and running a CC balance month after month. Thank god I have north of $430k in my TSP, a pension that will pay about $5500 a month gross by end of 2029, and SS and can now begin to save money over next 5 years until I retire debt free. Have a mortgage but my biggest obstacle way getting rid of CC Debt and that behavior is in the rear view mirror!!

@cathycooper7933 Жыл бұрын

I agree 100%… One thing I did when I was working out if I could retire was that I looked back at what I had been spending, and how I had been spending it for the previous 2 years… Then I looked at my projected income to see if that would cover my costs plus plus… I wanted money for my go-go years and my slow-go years and then what’s left will be fine for my no-go years… Great sense as always Joe..

@Tex9Down Жыл бұрын

Love your videos, they are right on!

@LovelyBreakingWaves-gu2cv Ай бұрын

This was very very useful !!! Thanks !!!

@laurabodycombe7998 6 ай бұрын

But, sometimes retirement gets thrust upon you. At the age of 61 I was called into my new boss’s office and told “we are going in a different direction “. Meaning we want someone younger and cheaper in your position. I tried to find another similar job and had two interviews. But neither resulted in an offer. Guess my gray hair didn’t impress them. So I’m retired now and doing fine.

@westhavenor9513 6 ай бұрын

Same thing happened to me this year at age 59. I was going to wait until 62 to retire so I could collect early SS, but things changed. I've been eliminating my hobby interests that are expensive, like cars and motorcycles. Focusing on gardening, which I love, and buying used books to read at the Goodwill. Best of luck to you--enjoy!

@laurabodycombe7998 6 ай бұрын

@@westhavenor9513 The other thing that bugs me about this, is that my company did hire a young woman to take over my position. She only lasted a year.

@derekduartelightingdesign2704 Жыл бұрын

The mortgage question is more complicated. We are retiring as renters in a high cost of living locate and buying in a low cost of living area near family. Rent and utilities were 3000/mo; mortgage, taxes, and utilities are now 1700/mo with 50% down. Life is much easier.

@chacod.hastiin3775 Ай бұрын

Good points to think about.

@user-ej7xs2zd7x 13 сағат бұрын

Retirement is all about freedom! However, it is your health that dictates how much freedom that you are going to have! True! Paying off your debts before you retire is important! During my final year of work we bought a new roof and furnace with money that we had set aside! Also purchased a new car that will be paid off in four years! My feeling was that it will be the last car, roof and furnace that I will ever own!

@da7heaven Жыл бұрын

Great video. Before I retired, we paid off all credit cards and right after I retired, we sold my commuter hybrid to Carvana for a couple thousand more than I owed on it. The only thing we chose not to do was pay off the mortgage. We have 2.75% and we're choosing not to deplete our investments. We relocated a number of times over the years and had bad market timing with price dips, so never got to the point of paying off a house. We also put 5 kids through college, which definitely diverted potential mortgage payoff funds.

@TheDutchman58 Жыл бұрын

We decided to take out a mortgage 8 years ago to get a steal of a place on a beautiful lake. 65 now and still have mtg but the enjoyment of living here is priceless. Planning to retire this year and will still be paying my mtg but can handle it. If need be will sell, other places on the lake are up 70% at least.

@wilber504 3 ай бұрын

Dave Ramsey course set us right, and enabled us to retire comfortably, and within our means. You are.sending the correct message. Prep is essential.

@RickEpperson 6 ай бұрын

Actually great advice. I had never watched your channel but will now for sure.

@joekuhnlovesretirement 6 ай бұрын

Welcome aboard!

@RickEpperson 6 ай бұрын

Thanks@@joekuhnlovesretirement

@randyb8771 Жыл бұрын

great advice... currently taking a gap year or two to unwind and refocus my quality of life... seems I hit all four of the red flags though I walk the fine line on the rationale you mentioned for each. While others tend to focus on what you need when you retire, equally important to understand what you should not be (in the way of financial habits)... While I considered these things from a general behavioral perspective I've not thought about them as a retirement planning gauge... will keep this in mind as continue on my path forward. Thanks!!

@karenhardie1132 11 ай бұрын

It depends on your health if you can work. Medicare isn't until 65. Health insurance is a huge issue.

@RedStarGlow Ай бұрын

This is the biggest wildcard in my early retirement budget. The other stuff is easier to predict or control.

@alainsoltura Жыл бұрын

Great video as always Joe. Thank you for your perspective.

@ponypetedm 2 ай бұрын

I retired at 46 and you are spot on.

@tonyvincent9753 7 ай бұрын

I agree with all of this. We've been retired for 5 years now and have had no mortgage, credit card debt, car payments for several years before retiring. One of the biggest moves, however, was reducing our property tax burden from 15 thousand $ annually to 15 hundred $. We left NJ and moved to rural NC. That's a huge chunk of change per month. You develop new interests and no longer need NYC and all the entertainment that goes along with living in that mecca.

@ramfan2004 Жыл бұрын

Thanks for your words of wisdom. I am 60 and have been an automotive tech for 40 yrs. My body is getting tired! Your advice is spot on! 7 months left on the car loan, doubled up on mortgage payments, whittling out the credit cards. I am hoping to retire at 62, but health insurance is my only obstacle. I might have to last until 65. Your videos have given me guidance and are allowing me to look forward to my retirement years.

@dacianbonta2840 Жыл бұрын

Obamacare ftw

@PH-md8xp Жыл бұрын

Yes, take a close look at ACA, with the current subsidies under the secure act, it is very affordable. No need to work till 65 if you don’t want or have to.

@ivanvarykino8202 Жыл бұрын

If your mtg balance and the rate is low, doubling up might be more self pain than you need to cause yourself. Good to get it paid off. But you may be better served to just make your regular payment and add the extra to a high interest savings account. I'm getting 3.7% at Capitol One. And have a cd of over 5%. My mtg is paid and no other debt. Best of luck and sounds like you'll get there. Having a plan and determination is huge!

@Hawkeye2001 Жыл бұрын

I retired at 63, health care thru the ObamaCare system. There is a maximum amount of "adjusted gross income" allowed. It was a very "do-able" amount for us, and that was my last reason for working. I'm almost 5 years in now, and am so very happy to be done with the crazy work world.

@nickbrown6457 Жыл бұрын

Healthcare is not even a consideration in the rest of the developed world, as it's all free (or more accurately, has already been paid for over your working life).

@GeorgeW.-zk8ry 7 ай бұрын

Good list and I agree! Thx for your thoughts- cheers

@joekuhnlovesretirement 7 ай бұрын

Thanks for watching!

@LivingGoodAlaska 25 күн бұрын

Great advice

@JobyJoby-iw2wr 6 ай бұрын

Dang! I'm doing everything wrong! My health is horrible, two car loans, no mortgage (paid for mobile home, rental lot), no savings, home repair loan balance, balances on five credit cards and a FICO score of 750. Defined Benefit pension and Social Security for income. And, I'm doing better than ALL of my neighbors and family members. 82 yo neighbor who continues to work, recently had his nearly new pickup truck repossessed. My greatest current concern? Completely dysfunctional Medical System billing department. DEI is FAIL and highly stressful.

@gregsalter Ай бұрын

Wait, you’re talking about what appears to be a lifetime of decisions… but you’re blaming it on DEI???

@JobyJoby-iw2wr Ай бұрын

@@gregsalter DEI overwhelms the medical industry. Most people won't be able to retire due to DEI....

@gregsalter Ай бұрын

@@JobyJoby-iw2wr Wow, that's... that's a heck of a stretch. But if you really want to blame DEI on your financial situation... go for it.

@laurijohnson7754 8 ай бұрын

We retired with a car loan, nothing else. We drive our cars until the wheels fall off. It has not been a problem at all.

@joekuhnlovesretirement 8 ай бұрын

Well done

@itguru2037 2 ай бұрын

Very good advice. I’m 56 and hoping to retire at 62. Have to pay off my mortgage before then. 😢

@SophiaNow 2 ай бұрын

I appreciate the balance in your video, it’s concise with enough explanation to illustrate your points. Limited skills in money management aren’t always a factor for some folks struggling financially; the best-made plans can go awry. One tool to support recovery might be to use zero-balance budgeting. Psychologically it can be much more effective than traditional budgeting because it offers more potential for choice which can give a bit of a sense of having some control which can be powerfully motivating.

@InterviewInterrogations 4 ай бұрын

The guy took 7 minutes to say “avoid debt”

@jayholiday256 Жыл бұрын

Nailed it Joe. I do all that stuff. We have some one time expenses getting ready for retirement, but otherwise, expenses are low. No mortgage car payments or credit card balances. I’m a mechanical engineer like you

@OnCashFlow 10 ай бұрын

Excellent video, Joe. These are great examples of what people should be aware of before they think about retirement.

@georgegarner5331 Жыл бұрын

Good video Joe....these are very real issues to that need to be addressed.

@jodylarson4697 Жыл бұрын

For me, expense tracking is key. This is not the same as a budget. With expense tracking, I know what I'm spending on average over the past 6 to 12 months in each category (food, electricity, gasoline, etc.), and this helps me see where I'm at in terms of cash flow. It also shows where I am spending too much (restaurant meals, for example) and where I could make adjustments.

@PH-md8xp Жыл бұрын

@jodylarson4697 Totally agree. I’ve been using quicken for decades to track every transaction coming in and going out across all my accounts, it gives me a comprehensive overview of everything related to my finances and I make adjustments when I see that I might be spending a little too much in one area or another.

@andersnielsen6044 Жыл бұрын

Why do you need a tracker.. It is your own life - and you know exactly what you are doing, also with your money. A tracker does NOT affect that.

@howellwong11 Жыл бұрын

A budget is just a reference to me on paper to help my mind tracking expense.

@donaldlyons17 Жыл бұрын

@@andersnielsen6044 WHAT SOME PEOPLE DON"T EVEN KNOW HOW MUCH MONEY THEY HAVE EACH MORNING!!!! FOR SOME OF US TRACKING AND BUDGETING IS NOT NESESSARY FOR OTHERS THEY CAN'T GO WITHOUT IT!!! People are just too different to expect them to all need or not need something..... just not that simple.

@andersnielsen6044 Жыл бұрын

@@donaldlyons17 You are right. Some are responsible and accountable adult human beings - Some is just not.

@alansewell7810 Жыл бұрын

Thanks for the wise and very practical information. People should also bear in mind that you can be forced into involuntary retirement at any time, such as a recession when you're laid off and every other company in your industry is dumping its people, when opportunities for re-employment are nil. Or, you could be incapacitated by injury or chronic illness. It's prudent to pay off your mortgage, autos, and credit cards as early as you can, and to live in as low-cost an area as you comfortably can, in case you have to weather an economic or physically incapaciting storm that could knock you out of the labor force for the rest of your life. I retired from full-time work in 2005 at 46, as did many of my colleagues, when our industrial economy was relocated overseas. Because I had prepared well for it in my 30s and early 40s I did not need to seek re-employment, which anyway was impossible from 2008 to about 2015 when the economy was decaying. Those days of economic turmoil will come again, we just don't know when. It is prudent to organize your life so that you can survive them if they come tomorrow. If they don't, you will have still have financial peace of mind.

@markoberhaus1414 Жыл бұрын

Yep, 2 years from retirement and I need to work on a budget. All the others I am on track. Thanks for the insights.

@joycelyn3619 Жыл бұрын

This was VERY helpful

@crewmax4240 Жыл бұрын

This is an excellent video for me, although I've been retired 4 or 5 years. I've been wondering what our financial health and habits look like to a professional. We're not taking cruises, but, we are very comfortable. I work to keep our budget recorded on paper in an accessible bag for my wife so she knows where everything comes from and goes if and when I conk out. Thanks for your info.

@bernie9728 7 ай бұрын

The only thing you have to do to retire is quit working. The definition of retire is litterally "no longer working". I retired at 62 because that's the age I could start taking back my Social Security. Been retired now for over 7 years and I now live a life of endless weekends, endless holidays and endless vacation days. It doesn't get any better than that.

@joekuhnlovesretirement 7 ай бұрын

You got it right

@cerkutube 8 ай бұрын

On the verge of retirement..your vlog was very useful to check and plan..Thanks ❤

@davidmorgan3328 Ай бұрын

63 yrs old living in Australia and retired when I was 61 and was a financial planner for 30 years and when people asked me how much do I need for retirement? Rather than do all the calculations I learned that life throws you curve balls which can stop you contributing towards retirement. so in the end I would say ‘I have never had anyone say I have to much money but have heard lots and lots say I don’t have enough. So be mindfully aware that this day will come and put away what you can today because that retirement day will arrive. Money doesn’t make you happy or healthy but it gives you choices and if you don’t have the money then there is no choice. I also totally agree with Joe’s comment, simplify your life and get rid of all debts. I have 2 credit cards and use them all the time but I clear the balance every single month, no questions asked and did that during my working career. Personally I think retirement is the wrong word as life doesn’t stop its doing things that you want to do but without being financially rewarded. Thanks for sharing Joe.😊

@user-ty2uz4gb7v 9 ай бұрын

You've got to retire your debt before you retire yourself

@joekuhnlovesretirement 9 ай бұрын

It’s a great idea

@martyi398 Жыл бұрын

Definitely agree with the credit card balances as being bad behavior, although I just can’t get on board with no mortgage or car loans, I’ve been averaging 9% on my investments over the last 15 years and have a small mortgage at 2.39% and a car loan at 2.99% We have plenty of excess monthly cash reserves and emergency funds in place, not counting the strong portfolio balances, we’re just not motivated to pay them off, they’re actually part of our monthly expense budget we’re doing great!

@giuliadellapi4800 Жыл бұрын

Exact same situation with us. CC debt is evil, but controlled debt (good mtg rate and lease/loan rates) within a budget, that should have been well thought out before flipping the switch, are fine with us and doing fine...

@kevinh5349 Жыл бұрын

Yeah, like every vid out there, this one size fits all 'advice' has to be weighed against your personal situation. Whatever, take what you can use and leave the rest.

@gatorhawk1324 Жыл бұрын

That’s if you stay in Your house for entirety of your mortgage term I.e 30 years, otherwise you have paid bulk of the interest in the first 10 years of the loan.

@IamGroot786 Жыл бұрын

I think he's referring to the behavior of trading in and buying a new car every few years, which's completely not smart. You're constantly under water and having a never ending monthly payment that could be going into an IRA or retirement account instead.

@rjones2000r Жыл бұрын

I agree with financing a car because they now cost 30K-50K. I would rather keep that money invested so at the end of 4-5 years making payments I still have my money and then some. I've learned you need money to make money

@simpleman5688 6 ай бұрын

Thanks. We only have medical on credit card. We’re ok. Not having a mortgage is the best thing for sure!

@deenugent473 3 ай бұрын

My wife and I are planning to retire at 62, and from your 4 list of things, I can check it all OFF (meaning no debts from anything). We knew this but thanks for the confirmation Joe!

@audreyhuggins8822 8 ай бұрын

Some friends of mine use to make fun of me for working a "real job" (working for L.A. County) while they travelled the world because you only live once. Well, I have it good now while they are struggling at not so great jobs with no benefits, nothing saved, and can't even afford having Internet service!

@joekuhnlovesretirement 8 ай бұрын

Decisions matter.

@Davidstowe872 Күн бұрын

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

@Jamesbrown1126 Күн бұрын

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

@Greghilton3 Күн бұрын

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

@SteveEstrada-js9nu Күн бұрын

this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

@Greghilton3 Күн бұрын

I've shuffled through a few advisors in the past, but settled with “Amber Dawn Brummit” her service is exemplary. I'd suggest you research her further on your browser, sure you'll find her basic info.

@SteveEstrada-js9nu Күн бұрын

very much appreciated, your response suggests a person of benevolence.. just inputted her full name on my browser, and came across her site, top-notch qualifications! she seems well-qualified

@frances4773 7 ай бұрын

Thx for the real talk

@isharymer8347 5 ай бұрын

finally someone that assured me I'm ready

@kjisnot 11 ай бұрын

We were free and clear of all loans a few years before considering retirement. We always made a habit of paying credit cards in full, never carried a balance. The subject I never really hear discussed is how lives can go seriously sideways as we retire and get old. It pays to have financial stability and not have to worry about a house payment. Cancer, heart problems, dementia, etc, happen. A lot of bad stuff can happen without notice. I think it makes a huge financial and emotional benefit to eliminate debt other than typical monthly needs. Plus downsizing and getting rid of needless clutter helps make life simple for older people.

@kirnpu 7 ай бұрын

I've been retired for 3 years now and living on a modest amount. It's working fine but it's CRUCIAL not to carry debt.

@GrnXnham Жыл бұрын

Agree 100%. Retired 3 months ago with zero debt. We know a few other people who retired and ran out of money in a relatively short period of time simply because they could not control their spending. Bottom line: If you are the type of person who always has to keep up with the Joneses, you are probably going to struggle in retirement.

@miamivicefanatic9736 3 ай бұрын

I think impulsive behavior is a big red flag. Buying without thinking about if they really need it. Driving recklessly without thinking about the consequences. Starting to use addictive substances. These are all preventable obstacles that can hinder a successful retirement.

@pauls7363 2 ай бұрын

I wholeheartedly agree with you. I retired at 55. Paid off my mortgage with a tax free lump sum. Pay off my credit card each month and budget for my routine and retirement pleasures such as trips abroad and golf club membership. I am now 64. Don’t leave retirement too late as you will inevitable get health problems sooner or later.

@PB-oj6jd Жыл бұрын

Joe , those are some astute observations. Especially the cc balances. If you cannot control your expenses your retirement ship will be sunk.

@danielnelson2820 Жыл бұрын

49 and paying extra on the mortgage. Maxing my Roth and mortgage will be payed off in 5 years. I want zero debt the day I retire. The mortgage is the last of my debt. All of these were great advice. None of the things you mentioned were offensive.

@axelpremiss4322 11 ай бұрын

I’m retired, cars (2) paid off…so these two vehicles are supposed to last me the rest of my life? I can never replace them? Dang…

@robertrodriguez3614 Жыл бұрын

Thanks for the great content. I’m retiring in July and have regret or apprehension. I’m enjoying the process.

@rnt45t1 Жыл бұрын

You can enjoy your life, or work until you die.

@joekuhnlovesretirement Жыл бұрын

Exactly

@jimvaillencourt5731 Жыл бұрын

Hey Joe. Not offended, but for my situation, I disagree. A budget is of utmost importance, and while I've paid down quite a bit of my debt, I still violate the other 3 'traits'. Do I have a ton of money? No. But I have a cash reserve, a military pension, some investment income and about $4k in social security. So we live comfortably. But at 63, I needed to quit my very stressful job. I believe retirement is an individual decision. My situation is not ideal, but the debt will get paid off eventually, and it works for us. Thanks for all your insights. I do enjoy your videos and have learned alot.

@joekuhnlovesretirement Жыл бұрын

Just red flags not a verdict

@velox731 Жыл бұрын

Very valuable and straightforward information. People need to hear it this way.

@RetiredLovingIt Жыл бұрын

Good points! Retirement definitely needs to be planned for. There’s nothing like being debt free!

@person.X. Жыл бұрын

No4 is the problem one for me. I have always gotten away with it as I am pretty frugal. It has also been difficult as my life does not have a regular pattern of repeating the same income and expenditure every month. However not budgeting is going to be too risky in retirement so I will have to get my act together.

@tmusa2002 Жыл бұрын

I agree on all counts, Joe. Call me old fashioned! I wouldn’t dream of retiring with a house, car, or CC payment. 🥳 You’ll sleep better at night. As far as budgeting… You’re not ready for adulting if you don’t keep a budget. It’s an eye opening experience-keeping it in your head is not the same as a zero balanced budget.

@ordinaryhuman5645 Жыл бұрын

I've usually considered the budget to be more of a beginner financial strategy, and certainly not a prerequisite for adulting. The anti-budget along with automating as much as possible has served me pretty well.

@mikeykpe6123 Жыл бұрын

As you know from your experience, people I know hate writing out a yearly budget to get a picture of where they are spending and if there is any danger signals. Most don't wanna know. I feel convicted to look at my spending as one day, hard times might come around here in Australia, and my friends from North America, Canada, Britain etc...