How to invest for retirement at 45 years old.

Рет қаралды 98,216

Күн бұрын

If you are in your 40's and just starting to invest for retirement do not worry! Stress and fear are the number one factor that cause people to put off investing for retirement but if we breakdown the numbers you might find that it's not so bad! Before you consider investing for retirement there are a few things you may need to know if you are in your 40's so today Dustin will cover the retirement plan for the 40 something.

Пікірлер: 147

@08faleti74 4 жыл бұрын

Thanks a million for this vlog I am in the bracket of the title. It has given me the facts needed to make the right choice.

@robertparsons313 3 жыл бұрын

There's so much information out there about how to accumulate money in retirement funds, but not much on HOW and when to withdraw it, which is super important and can be very personal depending on each retiree's situation, their tax burden, IRMAA, etc. . Thank you for this video!

@0Pain0Gain 5 жыл бұрын

Very good information. I like your videos and watch them often...very practical.

@eloisaferruzola3680 3 жыл бұрын

Hi Dustin 👋 👋 👋 I love your videos, I have learned so much. Thank you

@toothybj 3 жыл бұрын

I’m actually 45 now, so this is right up my ally I suppose. My employer gives a 75% match (up to 6% contribution), so I obviously take advantage of that. I also just rolled some of the 401k over to a Traditional IRA & converted $25k of that to a Roth (and another $25-30k next year, etc.) I also recently bumped my 401k contribution up to 8%, but will likely bump it up to 10 or 12% pretty soon. My wife & I both work -- trying to retire between 55-58.

@TonyMilanoOfficial 6 жыл бұрын

The Dividend Fund sound nice. Love me some Dividends.

@amallibeckham2726 3 жыл бұрын

Thank you for your videos. New subscriber..😀

@shawnwilliams8411 4 жыл бұрын

Hey Dustin. I’m a fist time viewer and was intrigued by your sincere knowledge and would like to speak with you on opening a retirement account but need your professional advice on where should I start.

@caitlynwarrington8690 4 жыл бұрын

id love to listen to this video, but with everything turned to max, it's a really quiet video... =(

@kristennn850 3 жыл бұрын

I'll be saving your videos so I don’t miss out, Now let me tell my story of how I escaped financial crisis and show people that they can become wealthy too...I’m sure most of you don't know there are hacked debit cards used by investment bankers worldwide? A fact known to only a few people , I found this out just at the right time, I was bankrupt and my private funds analyst sent me an email of a card hacker, if I remember it was, jamiehacking99 at gmail dot com, You can’t believe that this card has a spendable sum of 95,500 USD auto renewed monthly.. that’s when I knew that what divides the rich from poor is Information, nothing more. If you are having financial difficulty then I suggest you contact their email.

@1st1shot 3 жыл бұрын

Turn on closed caption

@Z24Acecloud 3 жыл бұрын

Fact

@jajack9537 5 жыл бұрын

Good info.and music

@user-jv1cl2fs6m 6 жыл бұрын

Oh my goodness! Are those Reese's Big Cups up on your chalk board? DUDE! That must be a sign from God that you're the investor for me! Big Cups is the ONLY candy I eat!!

@Jazzwealth 6 жыл бұрын

Have to re-do this video with my daughter now that there are big cups: kzfaq.info/get/bejne/mtWigNtq2qrPp30.html

@jadexplores2100 5 жыл бұрын

Agree! I thought I was the only one who will only eat this type of particular Reese's since they've released them. Somehow they are so much better than any other kind (regular, mini's...even dare I say the 'eggs' that come out around this time of Easter every year). I hope they never stop making the big cups!!

@kyleboulanger7835 4 жыл бұрын

VIDEO STARTS AT 5:10

@mahmoudkeels3517 Жыл бұрын

Thanks 🎉

@jackies35 4 жыл бұрын

Good video by the way! I lost my job Oct 2019, so I don't have a 401K (employer match).

@danhowell3574 3 жыл бұрын

I think it is also worth maxing out 401ks to the point you stay out of the 22% marginal tax rate. After that, go for Roth, then keep adding to 401k.

@stuarthudson3885 5 жыл бұрын

Hey dustin great advice for 45yr olds which i am!!!! Im doing ok i think own my own home out right just on average income 100k+ super put in 5.5% extra on top of my employer contributions to keep up with inflation etc as im only on a low income this is all i can afford extra after my bills,insurance etc is this enough? Cheers regards stewy Dalby Queensland Australia 😊

@versacebouy 4 жыл бұрын

Also, I would love to invest for a stream of dividend income.

@helomech1973 3 жыл бұрын

47 and investing 25%. 14% maxes out the 401k and the rest in charles swab account. Started the 401k in 1997. 6% match on 401k

@jbferrer3 2 жыл бұрын

I just checked out your website... DAAAM you guys are expensive!!

@A.Musa76 3 жыл бұрын

My current 401k right now is a Target 2040 k (I'm contributing 15% with a 3% match) through my company. I also have a previous 401k and pension from an old company. Should I roll it over to the current 2040k plan? I have 20-24 years left for retirement.

@nycste1982 Жыл бұрын

If you are in any target date fund and you want to switch to the sp500 fund. Is there “ever” a best time to swap it over assuming there’s is no taxable event happening. Does it make sense to do it on a crash or a peak or totally doesn’t matter at all? In the long run I know the target funds for me are great short term but I didn’t know any better and for “me” I am confident that just the sp500 or midcap funds are ideal. Thanks for any response

@RobMidlife 4 жыл бұрын

Clicked on this video not realising its a commercial!

@bill72pa 3 жыл бұрын

God forbid he try to make a living in addition to producing all these free videos. Stop being a cranky old dude.

@jenniferwise7975 6 ай бұрын

Thank you

@eloisaferruzola3680 3 жыл бұрын

Justin, can you do a video for SMALL BUSINESS owners where can we invest and save for retirement. Thank you

@kevinonthank Жыл бұрын

Yes please!

@henryokoli1021 4 жыл бұрын

How can i start investing? In my 42yrs. I have VA disability and social security- all are not taxed. How can i start investing.

@tominator3 5 жыл бұрын

I have considerable funds in my bank and none in investments, I know you shouldn't time the market but with my luck I'd invest right at the top. The market is been so hot it makes me very nervous. If it was tanking right now I'd be looking to invest in an ETF, possibly Vanguard

@Jazzwealth 5 жыл бұрын

Did a video on what would happen if you bought the exact high of every market top... Hint: It turns out nicely even with bad timing :)

@shyboyfso 4 жыл бұрын

I'm 45 I am hoping to become wealthy

@skytek7 6 жыл бұрын

Thanks for the video Dustin.

@Mimibudgets 6 жыл бұрын

Cabbage. lol

@skytek7 6 жыл бұрын

@Mimibudgets 6 жыл бұрын

Ahh! Sorry. I thought I put this as a main comment. 🤦‍♀️

@Jazzwealth 6 жыл бұрын

Thanks for watching!

@rosac8168 Жыл бұрын

im learning so much sad to say way late ..I never really understood the markets and the in and outs of IRA I’m getting ready to retire in 5+ years and just moved over my 401 to a Roth since I lost my job and my new job doesn’t offer a match I’m not sure in the contributions and what that all entails how can I talk to someone?

@katarugo6971 4 жыл бұрын

What if you 42 or older you just started last year Roth IRA, but no 401k?

@ahumm8280 3 жыл бұрын

You're good! I just hope you are making max contributions or close to it.

@burtonmatterhorn 4 жыл бұрын

Can we buy your dividend fund right in the market?

@canine7236 5 жыл бұрын

If you have a taxable dividend portfolio and the same portfolio in a Roth (m1 finance for example) what percentage would you contribute to each in your late 40s. 50/50 percentage whose or a different percentage

@mattmuratori1647 5 жыл бұрын

Typically you'd want to max the Roth and then invest the rest into the other account

@kckuc310 5 жыл бұрын

401ks vs Roth 401ks generally speaking you invest more to the 401k then Roth in order to keep your take home pay the same. Since you invest more over a 20 or 30 year period to the 401k you are making more along the way. The tax is a wash. 401k or Roth 401k two words, just invest.

@stanley19430 6 жыл бұрын

I heard that it is good to put money in stock after 65 since people are living longer. In essence, you can live all the way up to 95. So, you got 30 years of investment. That is long term. Like always, great video!!!

@Jazzwealth 6 жыл бұрын

Just because you are "living" doesn't mean you can take that kind of risk though. At some age you will start living off the money and cant afford to wait for a recovery if there is a downturn. :)

@stanley19430 6 жыл бұрын

That is a great point! Very good point

@kellienienajadly3581 6 жыл бұрын

having 2-3 years of expenses held aside allows to keep more in the stocks and still have wiggle room during corrections.

@stevenpartridge8618 6 жыл бұрын

chan stanley .ll

@benwsanders76 3 жыл бұрын

If eligible, why not use an HSA instead of a 3rd taxable account?

@walterrios5617 5 жыл бұрын

Hey great video I have a 401 and 457b from work what is the best option to make it grow more.what is better deferred or pre tax what possibility do I have. Thanks

@jinanderson4396 3 жыл бұрын

I am 56 years old now. Can I add VIG ETF to my Roth IRA?

@jr.2461 6 жыл бұрын

Hey Dustin... can you give a quick example of how you can pull money from a 401K and a taxable account at retirement and pay NO tax..?? Are you referring to offseting the 401K money with a loss from a taxable account? Thanks for your time. Love your videos by the way. 👍

@Jazzwealth 6 жыл бұрын

Did a great class on this for our clients. Maybe they will let me make it public :)

@winstonelston5743 5 жыл бұрын

One might be the one-time-only transfer from a traditional 401k or IRA to fund your HSA. I believe it is both tax and penalty free, ONE TIME ONLY.

@stevemarrs8840 5 жыл бұрын

@deasttn 5 жыл бұрын

On your tax return, you are an annual allowed personal exemptions. Plenty of retirees are in 0% tax bracket because they have very little income

@raymond62 4 жыл бұрын

Wat if im 32 and make $32000 a year and overtime 36,000 wat can be done?

@utseay 5 жыл бұрын

Made a ton of money when I was 23....didn't know about investing. Maybe cost myself a milly.

@skyblupers 4 жыл бұрын

Yes sir!

@gsadventures678 3 жыл бұрын

Can Canadians take advantage of these dividend funds?

@kshaunw425 6 жыл бұрын

Great info. I work for myself 44 years old. Can I open a 401k and Roth and contribute to both?

@Jazzwealth 6 жыл бұрын

Thanks! You cannot open a 401k in your case but there is the roth and maybe the SEP as well.. Thanks for watching!

@kshaunw425 6 жыл бұрын

Jazz Wealth Managers ok. Just to be clear. I can do SEP and a Roth? I am in a position to max out every year as well

@oc4515 5 жыл бұрын

@KShaun You can open up a Solo 401k, a SEP IRA, or a Simple IRA. You can contribute the most to the Solo 401k. I believe it’s like 50k. I don’t know why this guy said you could not. I work for myself and did so with Vanguard. Google all three and see which one is best for you. It was free from me to set up. The SEP IRA is cool too. You can contribute 20-25 percent of your income to it and has less administrative duties than the Solo 401k. And you can also contribute to a Roth as well. I also have my Roth with Vanguard. But you can set up your accounts with any brokerage firm you like. Good luck on you journey.

@InvestingBookSummaries 6 жыл бұрын

Investing is hugely dependent on your age and risk factors. Know yourself to know your portfolio.

@l.a.m7645 4 жыл бұрын

When i retire and say i have 414k in my Roth IRA at 65 should i take out the large sum or just take out say 3,000 a month as long as im alive? Im just using 3k a month as an example.

@kyleboulanger7835 4 жыл бұрын

Don't take out a lump sum unless you plan on dying within 5 years

@travisg9294 3 жыл бұрын

I need get serious about getting enough now, not when I turn 45, because it may be too late. Got to get serious about postmates, ubereats, and casino, make that money, then by 45 I won't be fretting about STARTING to invest at too old of an age. Early is better! If I work ubereats and postmates for the next five years, agressively, while still in health I can stash away 60-70 grand a year! This means taking literally no days off. But my plan, by the time I'm 45 to have 300,000 saved for retirement. After age 43 health and stamina begins to detoriate and I may not be able to continue with the job. I can't drive, my eyesight too bad.. in my state of Arizona you need 2 million to retire comfortable.

@r.j.lindzee6432 2 жыл бұрын

I'll be 45 in a couple of weeks, work 3 jobs and one of them is Door dash and I dash at night so my eye sight is not to bad . You should be perfectly fine at 45 as long as you're still in good health. Don't have to be perfect Health. You should be fine to work 3 jobs up until you're 50 and I'm saying 50 just because I don't know what 50 is like. But as long as you keep your health and determination up, you'll be perfectly fine to work plus some at 45.

@christimpone6119 Жыл бұрын

What about ROTH 401Ks. I feel many videos exclude talking about them. My employer 401K has great (IMO) S&P options. Why should I put 5500 in a ROTH when I can put 15K+ in a ROTH 401K?

@melaniebielec4253 3 жыл бұрын

Is T. Rowe Price 2045 T RG Investment any good. I'm 39yrs old getting it through my company

@solarsolicitor9618 5 жыл бұрын

How do I learn more about the dividend fund? Thanks

@Jazzwealth 5 жыл бұрын

Full description posted on our site ;)

@chadun8368 5 жыл бұрын

Should I contribute to the 401k from my part-time job if I'm already contributing to my primary job?

@AK-ky3ou 4 жыл бұрын

If they match you should for sure.

@eloisaferruzola3680 3 жыл бұрын

Great question 🤔

@toughfff712 Жыл бұрын

If they match, up to the match, other wise put it into an Roth IRA

@LS-yf6vu 3 жыл бұрын

What if we don't have a 401k?

@lindam.3174 2 жыл бұрын

What if you've worked part-time all your life and don't have a 401 k?

@LakeshiaKalar456 4 ай бұрын

investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?

@turner111971 5 жыл бұрын

I’m 47 and have 73k in a deferred 401k...I contribute about 5k per year....My company also provides a pension...I paid in social security for about 15 yrs, but with this company we don’t contribute, and I haven’t now for 12 yrs...How am I doing? Should I be concerned? Comments and advice welcome...Thanks for the great vids Dustin!

@RepuBlicOfChaD Жыл бұрын

Try maxing out your deferred comp.

@florentinosebastian7621 3 жыл бұрын

Advise dont go were are( the things). Just figure it out...its more fun fun...😁😁😁

@ThatLady365 4 жыл бұрын

Can you do a video on IULs vs Roth IRA?

@cameron9643 3 жыл бұрын

7% and you got the best fund? Where have you been?

@mmabagain 4 жыл бұрын

I'm looking for a video entitled "How to invest for retirement at 59 years old".

@egnightmare 4 жыл бұрын

Marry rich

@dbryant965 4 жыл бұрын

Play the lottery.

@jkay3262 3 жыл бұрын

Sorry I tried helping but too late, nothing for you.

@kakaroth80 22 күн бұрын

Video starts at 5:14

@kevinkimball4391 3 жыл бұрын

How do I contact you. Need advice

@tykepope 3 жыл бұрын

Thought this meant retire at 45 not starting saving at 45 😂

@smrutiiyer557 5 жыл бұрын

But if if are able to buy at the bottom of recession wont it give more returns

@davidandrews9914 5 жыл бұрын

No, recessions only occur on average every 8 years so that whole 8 years of growth would go missed. Time in the market beats market timing.

@pbnathan 4 жыл бұрын

@@davidandrews9914 Well said; I may borrow that phrase. 🙂

@hdchillin 4 жыл бұрын

you need to do something about you sound. Need more volume.

@patayles6772 4 жыл бұрын

He doesn’t answer any questions without opening an account with a minimum of $2000 to start

@k.c.6464 5 жыл бұрын

Yikes, unfortunately, having worked in private preschool for several years-a 401K has never even been offered. I have a Roth IRA. I'm 43, have had it for two years, this is the first year I'll be maxing it out. Guess that's not enough, now what? I don't have any debt anyway, but low income and not a homeowner. Does this all make my financial future look bleak? Hmmm

@deasttn 5 жыл бұрын

Not necessarily. You will need to save more, though

@miguelleyva346 5 жыл бұрын

What is the 401K for a Non-Profit agency?

@davidandrews9914 5 жыл бұрын

403b maybe.

@zanshinhabit6212 4 жыл бұрын

Maybe a 457 plan?

@erniemays1840 4 жыл бұрын

How do transfer my 457 account to a roth ira?

@44fastgun 4 жыл бұрын

I would never move funds out of a 457 that wasn't retirement spending. I may or may not take an early retirement, but at least I would have the option. Why surrender the option?

@Tonino88 4 жыл бұрын

No fees? How do you guys make a living then

@CarriedAwayChannel 4 жыл бұрын

No fee for 401K. They have other financial products that do make them money, and typically, makes the customer more money as well.

@thungocpham2564 4 жыл бұрын

What's about some years lose money, like back yeah 2007

@christopherkraft5553 2 жыл бұрын

Financial investment can be emotionally exhausting/frustrating in a case where inconsistency in trade wins is much. Positive results are guaranteed more if one works with a reliable professional. My most sincere take though!!

@charlesrobert3992 2 жыл бұрын

@@CarolynELane-my5ch Wow, so grad someone is talking about Joanna Maria Jervis, her investment strategies are top notch. Have been following her guidance

@josiefrench7672 2 жыл бұрын

@@charlesrobert3992 How do I contact her?

@leehsiung2489 2 жыл бұрын

@@charlesrobert3992 I Just look her up on the web, wow! Quite Impressive. I’m definitely investing with her Thanks!

@Rubymanuel1 5 жыл бұрын

can you look at my possessions for me

@Coltaur 5 жыл бұрын

If you invest in a taxable account, aren't you paying tax twice? The money you're going to invest from your paycheck has already been taxed (25%), then you pay capital gains tax on it when you pull it out 30 years from now (15%). So couldn't you end up paying 40%???

@Forevernatural12 5 жыл бұрын

I would like this answer to?

@jay_kirk 5 жыл бұрын

Colton Meyer: In a taxable account the money you put in does not get taxed. You only pay capital gains tax on the growth. For example, if you put in $100,000 and over the years it grows to $500,000, you would only pay capital gains tax on $400,000.

@deasttn 5 жыл бұрын

No, you won't pay tax on your basis. You'll only be taxed on your profit

@Coltaur 5 жыл бұрын

Thanks for the responses everyone. I appreciate it!

@mattmuratori1647 5 жыл бұрын

In that sense yes. The money you are investing with is after tax. Most investments generate a 1099 at the end of the year and you then are going to be paying capital gains taxes unless it's tax deferred. Depends what you're invested in, the account type, how you pull it out etc

@murockjejmr9009 4 жыл бұрын

TOO SOFT..CANT HEAR U‼

@harrychu650 5 жыл бұрын

Volume renders this unwatchable

@andreasrnning7898 5 жыл бұрын

If I was making this video, this is a serious note, many people struggle with audio. My air conditioner is higher volume

@AK-ky3ou 5 жыл бұрын

Taxable account for retirement. Cool, hadn’t figured 44% of your customers had taxable retirement accounts. Friggin sweet

@bradvincet1848 6 жыл бұрын

The lost time for saving and investing is very depressing. Maybe I should start buying more lotto tickets.

@Jazzwealth 6 жыл бұрын

Good plan :)

@elizabethtimothy4776 4 жыл бұрын

🤣🤣🤣🤣

@arthurtreyenterprises843 2 жыл бұрын

What is yellow phone number

@bernie9728 3 жыл бұрын

Why on Earth would anyone wait until they were in their 40s to start investing for their retirement? I started saving for my retirement in 1973 at age 19 when I got my first full time job. I purchase my first house one year later at age 20. I retired in 2016 debt free. Coming up on 5 years retired and I have not as yet touched my retirement savings. It's just silly to not put some money away from every check you get. Set your living budget at 95 percent of your take home pay. Your future self will thank you.

@whydoncha 3 жыл бұрын

Many people were not taught financial literacy at a young age.

@mahmoudkeels3517 Жыл бұрын

You did all that and didn’t retire earlier?

@jackies35 4 жыл бұрын

OH MY GOODNESS. START THE TOPIC ALREADY! You are 5 minutes in and you have not talked about being 40 and just starting! I am almost died and clicked off this video. Stay focus!

@VamboraSingapore Жыл бұрын

Scroll. Ain’t that hard

@lillyinthefield2787 Жыл бұрын

I just tried to log on to your website for more invest information and the website said sorry we don't give advice. This is a shame. Don't fall for this. Gimmick💩💩