This is one of the most useful channels on all of KZfaq. This is truly a life in America howto. You need your own class for high schools. Pre-package your videos with supplementary worksheets and papers with suggested questions for the class. Give it to high school classes at no cost, you would save a lot of people a ton of pain.

I watch several KZfaq videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands

As 401k is being pushed so hard by government policy in America, a video on a breakdown of that would be awesome and appreciated!

keep growing two cents

My retirement plan is to get into a bar fight with an alligator. Either I win and I never have to work again or I lose and I never have to work again.

I feel like Julia has been pregnant for 11 months.

My retirement plan is dying young.

Retirement is not an end, but a new beginning.Your dedication today will pave the way for a future filled with financial security and the freedom to pursue your passions.Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 50 and my wife 44 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income..

Honestly, I’ve learned more life skills from KZfaq channels like this than in all my years of schooling. I really wish more people would take the time to seek this information out instead of complaining about how hard life is. Keep up the great work!!!

Thinking outside the box: Retired oversea, many expat been doing it for decades.

It’s amazing to me how much money people where I live are spending on cars,home remodeling projects and other “keeping up with the joneses” types of expenses. It seems as though owning an Audi SUV or similar is not about gaining prestige, it’s more about not feeling like a loser. I’m worried that so many people are wasting money on status symbols, and are clueless about the financial reality that is going to crush them.

Whoever edits your thumbnail needs a high five.... anyways... Great video! I love watching videos about my eventual financial future. It gives me the satisfaction of planning ahead and is fun as well.

"losing our desire to earn a paycheck" okay but that's literally me after less than a full year of my first real job in my early 20s.

The one thing that $1.18M dollar retirement nest egg doesn't take into account the skyrocketing price of health care, especially drug prices. You mention how federal policy has put the burden on workers rather than on policy. While I agree that we need to take some responsibility for our own choices, isn't there a failure here in policy, too? I think you should have put out a call to address the failure of the public systems that are basically saying to workers in the USA: "Retirement is a lie. You will work until you die."

Fantastic channel. And, although the target audience appears to be younger workers, watching the videos has also taught this 60-year old financial disaster a LOT. Recommended watching, no matter what age you are.

March of last year I started watching these videos. I'm old and thought I didn't have a chance. I didn't have anything in retirement, but I had a lot of stuff around, collectibles and such. Sold most of it to the tune of about 35 grand and put it in the market. I'm at about 65 grand today and contribute monthly and don't buy crap anymore. Every cent is planned for where it is going before I get it. I'm 48 now, but I think I'll be alright in 15 years.

The less debt you get into earlier , the more retirement you get to have later

I m from very little village from India and I love two cents 😘

While I agree we should all save for retirement my biggest critique of this video is not stating the obvious: that MOST Americans are paying off thousands of dollars of debt from college, or healthcare costs, housing, ect. Most of us are living paycheck to paycheck and dont have enough in savings as it is. Most Americans couldn't afford a $1000 emergency if one came up. Thats the reality we are living in.

live in indonesia.. i sell a street food snack for living.. i think i will do it for the rest off my life.. i never need retire, i never work infact, i love what i do.. cook..

My friends in school used to make me feel bad about how I looked, then I realized they weren’t friends and started not worrying about what I’m driving and what I’m wearing.

Healthy habits help. Health is wealth.

Why you guys always talk about 6 figures... and never talk about what I can do with my 2 cents

My plan: no kids and dying young.

Man, you both really have that pre-covid times pep in your step. Great video, as always!

Im 18, I started a Roth IRA account in December and im working hard saving 80% of my paycheck trying to hit the $5,500 limit for 2018 contributions. Since December ive somehow manged to get over $3,000 in in the account so far making 20k a year. Whew. I wish i had learned more a few months earlier so I wouldn't have so little time to get the over 5 grand in the account.

Yes!! Another 2cents video!:)

I love hearing Julia speaking! Great channel, I've been binge watching your videos!

You guys did such a good job of pulling this channel together im impressed

I cant belive i am watching all this in free i could have to pay to watch this usful education thank u great couple

This video needs to go viral! This channel is the most valuable youtube channel!

The greatest power in the world is compound interest. Another great video guys. Thank you for looking over such a crucial subject.

I love the black mirror reference. That's still my favorite episode :)

save $100 a week for a year, move to mexico and be rich

This series is great! Keep up the excellent work. Thank you PBS!

You two are amazing, thanks so much for your wonderfully helpful advice. Such a friendly, straightforward presentation too!

Great advice so long as the stock market returns 7% per year for the next 30 years which is very, very doubtful. Also don't get sick, lose your full-time job (if you can find one), don't have kids and don't get divorced. But otherwise great advice! Just my two cents.

Look for low cost index funds. Don't waste you time trying to play the market.

Been following ya'll for a few months now. Love this channel! Thank you for your advice and great editing!

Hey guys I just wanted to say thanks. I started watching about a year ago and its my senior year of college. Most of my family doesn't really have much in terms of knowledge or smart past decisions and this channel has helped me feel more comfortable in my future and safer going out of high school.

Why is everyone talking about saving for retirement instead of (or in addition to) creating assets/sources of income? Saving money for 30 years is not realistic for me. Who knows what the world/the economy will be like then.... Now, creating multiple sources of income is a far better and more realistic approach for me. Travelling the world as a retired person? I've been doing that one and off as a digital nomad (27 countries so far at age 32...why wait until I'm old??). Take as an example Tim Ferris and his book (the 4 hour workweek) and Robert Kyosaki (Rich Dad Poor Dad).

Can confirm. Started investing at 35. Been at it 8 years. Through my living under my means, getting raises and investing smart with some risk, I now have 8x what I had (in a lucky/historically good market). If all goes average (I assume a 9% return), I'll have my $1.1 million in around 14 years. No inheritance, no matching 401k, not counting my modest pension. This can be done. If you make $40,000, live like you make $32,000 (which a lot of people do) and you'll have your monthly contribution. Or if you get a raise, add it to retirement instead of improving your standard of living right away.

OMG! This is like the most positive channel ever! Keep on doing the great job guys!

I love your channel! It's not just informative but you guys make it so much fun. Please do more on retirement. There is a lot to cover (Medicare, SS, IRA, 401(k), Pension) and I'm most particularly interested in when to withdraw and in which order. Thank you and happy 2021!

I'm 53 now and if I don't have health issues I think 75 would be a good age to retire. Unless there is a catastrophe, I have enough invested but I enjoy my work.

pregnancy glow and body is showing

You guys are great... keep up the good work. Education is key.. thank you for guiding folks to a better future..

This channel is awesome! Congratulations on over 150K subs! We need more practical financial lessons like these and just wish I knew them back when I was younger.

I’m one of the few millennials who’s months away from a lifetime pension.

I'm 32, work as a dental assistant in the private sector. 25k a year is the most I've grossed in a year and I've been working 10 years. I'm on the higher end for pay too being unlicensed.

You both are awesome... Every video is very insightful!!!

loveeee the channel! seriously one of my favs and so informative and useful! can you guys do a video on 401Ks (roth, traditional), how to know which one is better, or something along those lines? or maybe how we can expect the slowing economy to impact our day-to-day lives and what we can do to prepare, etc? thanks so much! forever a subscriber

So I need to pay my student debt. Save for retirement. Save for my non existent kids college....so when do I buy a house in all of this? Oh. Probably never.

i'm only 19 year old and already thinking about this.

You guys are such a pleasure to watch in every video ❤

How is the production quality so good! Keep up good work.

I like how Betty gets older her skirt becomes longer. #VeryClassy

Here is what you need to know if you want to replace your salary with the interest of your retirement savings and have nothing saved up for retirement: 40 years left: 5% of your salary compounded at 8% interest is what you need 30 years left: 10.5% of your salary compounded at 8% interest is what you need 20 years left: 25.5% of your salary compounded at 8% interest is what you need 10 years left: 80% of your salary compounded at 8% interest is what you need 8 years left: it is impossible, even saving literally 100% of your salary wouldn’t get you to retirement

I remember when this Channel only has 1k subscriber (I was lucky Iwas in the first thousand) that this channel will Grow and Grow. I love this channel! I love the animation and the video. You guys are going to be bigger soon wooo!!!

Great channel! Thanks for putting such important concepts into tangible understanding!

I guess i ma put 2 cent every week before retiring

Betty is making almost as much as the average American household. She's relatively wealthy, so she can afford to put aside 15% of her pre-tax income.

Really appreciate you guys doing these videos

I'm currently saving about 80% of my income but it gets tiring.It just feels like I'm limiting myself while I'm young so I can live comfortably when I'm old.Youth is when you should live your life to the fullest and truly enjoy your life.Being old is crappy no matter how much money you have.I think people should focus more on making sure they're debt free instead of saving millions for retirement.

Phillip doesn't look so bad with gray hair

"Either of these options is better than doing nothing or counting on winning the lottery" Half the people have left the chat*

Hi! I gotta say, I LOVE ALL YOUR VIDEOS. I'm moving to the US soon in my early 20s, and you're helping me a lot to know how to adult there.

I was already a fan, but the BTTF mention put me over the top. Keep up the great work guys.

Sad, I see the elderly working at Walmart. They still work until their 80’s.

Your channel and content are wonderful! Can I just ask one general question - when you say $50k salary, I assume you mean after taxes? Are all examples in 'Run the numbers' net income after taxes? Thanks!

Thank you so much for doing this!!!!

I love P.B.S. produced Two Cents you all and Sci show are very informative.

I'm so blessed I started saving at 21

Awesome Black Mirror Reference at the start :)

I am only 16 yet I am watching cz I love the way you guys speak! It's my dream to speak that fluently and that clearly

Loved the videos guys, keep them coming!

Im only 14 but i cant wait for retirement so i can finally stop using most of the hours a day doing something im supposed to do and just live life

Time machine becoming public in 2028. Says my time traveling friends

Congratulations to both of you for your upcoming good news.. take care..

Always learn something new......you guys are really good

Something you forgot to add into this video is inflation. There is an average inflation rate of 3.5% per year. That means that every 20 years the cost of everything doubles. That means that 40 years from now, you will not need $50k to live the way you do now, you will need $200k a year. That $1 million is in todays numbers, not 40 years from now or longer.

It is a very small percentage of people who earn 50k+ a year. So you are basically saying that most people are doomed to live their old years in poverty. If that is not an argument against the status quo I don't know what is.

I love the intro jingle so much.

Awesome video! And Julia you’re glowing!!😍

Don't forget there are much better mediums for increasing your bottom line wealth then blindly trusting the stock market Instead most experts tell you not to diversify but two become more financially educated to control your own Investments the safer bet multifamily real estate not REITs but actual Equity or preferred stake historically growing between 8 and 15% depending on deep value or cash flow Investments

Tell me how to get that 50k/yr job in the first place.

For every video that you make I only become more grateful that I live in Sweden.

You guys are an amazingly useful channel!!

So how about a more realistic scenario for many millennials only making 20,000 a year where putting money away is nearly impossible, perhaps only 20 dollars a month? Job prospects are slim, moving is impossible because of financial burdens and housing costs, student debt, insurance, and medical bills? Is retirement even POSSIBLE? I work to eat so I can work another day, repeat until I commit suicide another day.

The more i watch your show, the more unpleasant things i learn about the USA. Last time i learned you people need to pay to give birth, and now that you can't retire without thinking about savings. It's one very weird country.

I love you guys, please keep up the amazing videos!!!

I’m early!! Love your content!! Thank you, and have a great day Two Cents!!

Brilliant video as always guys, I am 21 years old and videos like these are what motivated me to start investing/saving now!. The only thing I would say is that 7.5% on a 'balanced portfolio' is ridiculously optimistic in. The sp500 has returned much less over the past 20 years (roughly 6 - 7%), and that 10% growth rate happened in the time when america was in the process of becoming the power house it is today - that growth cannot be expected for a mature economy. Furthermore, a 'balanced portfolio' would most likely include some bond and cash savings (in an attempt to reduce risk) which would further pull the CAGR down. Moreover, in today's global economy it would probably be smart to invest in different markets too (i.e UK, asia etc) who typically have a lower return rate than the SP500 - further pulling it down. I suggest a growth rate of around 3.5 - 5.5% is much more sensible and conservative. Investing $600 a month at a 4.5% growth rate would still net you 800k after 40 years so it's still not too bad :D

"... The keys to your retirement are three things you have absolutely no control over."

My fav part is when yall run the numbers! LOVe ittt

Great work guys. Keep it up. Greetings from Spain

Hey dudes! You two need to podcast as well!! 😉👉👉

For the love of me, I don't understand why so many people fall for this stuff. Retirement planning is actually EASILY doable! How? first forget what AAPR says and certainly do NOT seek a "fiduciary financial planner" if that person manages money for a fee. AARP got their numbers by taking the $40k and dividing by 3.5%. Why 3.5%? Because that's the 4% rule, reduced a bit due to bond rates being so much lower than they were when the 4% rule was "founded", so to speak. What is wrong with this? easy. Assumes your spending will grow each and every year with inflation. Is there any, ANY validity to that claim? No. In fact the evidence is beginning to be overwhelming in the other direction, that your spending will DROP as you age. Secondly, what is the average actual expenditure for retirees? Well, if we look at the BLS numbers www.bls.gov/opub/btn/volume-5/spending-patterns-of-older-americans.htm we find less than $50k, and that's AVERAGE not median. Average distorts the numbers to the high end a bit. What's the biggest expense for the AVERAGE retiree??? Guess.... HOUSING! BY far. over 33% of a retirees expenses are consumed by housing. Actual health spending doesn't even come close. Lastly, if you made the MEDIAN income over the course of your career what would your Social Security benefit be at your Full Retirement Age? Well, median household income in today's dollars has been around 60k. which means your AIME is $5k a month. You can easily figure out your PIA (which is your actual Social Security benefit at your Full Retirement Age 66 or 67 depending on when you were born). The first $926 bend point pays 90%. THus $926 times. 90 = $833. Then next amount ($5000-926) times . 32% = $1303. Add $833 to $1303 equals $2136. That is your benefit at your full retirement age. If you're married and even if your spouse didnt' work he/she will get half of that amount at his/her FRA thus another $1068 So, between you two who had MEDIAN Household income your total Social Security benefit is $3206. Which is ALMOST that $40k a year AARP was talking about. Wait two years beyond your FRA and your SS benefit increases by 16% and then your benefit is now over $44k a year. NO TAXES EITHER! Nothing fancy here folks. Just basic math. Yet for some reason EVERYONE wants to scare the hell out of EVERYONE. I dont' get it.

Very Informative! Excellent Video!

This is so true. Thank you for the great content you provide. Most Americans today do not know how to build good habits to save for retirement. As you mentioned compound interest, a good market, and time can help you tremendously for retirement and other luxuries along the way if used right. If your young this can help you even more, because you have more time to let your money grow. Thanks again for the content