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?

My $700k retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate Peace? I don’t want to fail after 22 years of working hard.

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

Thank you for providing such valuable information. It's exactly what I needed to hear. Both my wife and I serve as directors for our farm business, and we also own property along with our small pensions. As I approach the age of 55 and my wife is 52, we have initiated our savings journey towards retirement from the farm. Our aim is to potentially rely on rental income to support our retirement lifestyle. I would greatly appreciate it if you could organize a live session where you discuss strategies for earning passive income online and achieving a comfortable retirement, with a target goal of $1M.

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..

No matter how old you are, it's never too late to start saving.

Wow, that just changed my life. Thank you so much Dustin.

Thank you for lifting that dark cloud!! There is hope for me!

Under promise over deliver. Thank you for a realistic view in worst case type of case.

Thank you. Nice work. You are always positive 👍

I love your vibe, my man. Thanks for keeping it positive, encouraging and possible. Thumbs up, for sure! 👍🏽👍🏽👍🏽💕💕💕

You are great. Positive. Love it. Thanks!

As we age we must work smarter not harder

Thank you for thinking of us older population!! 💖💖💖

Well done! Easy to understand and implement. Thank you.

This is great information. Thanks!

Positive, upbeat, informative, and I really like your magic board :) Subbed!

Great video. Thanks Dustin 👍🏾👍🏾

The numbers are daunting. Many people do not have enough. Good information. I teach people about retirement and leaving a legacy. Unfortunately so many people start thinking about retirement very late.

THANK YOU for making this so hopeful ~ b/c A LOT of people who are 50+ feel like they just can't make it if they haven't started already ~ we're in between ~ meaning ~ we didn't start until 46 yrs and now we have a net worth of about $700K but that includes 4 rentals. But only 2 pays us ~ we're always having to evict someone. SMH

Thank you very much! Finally someone make a video explaining so clearly about this matter. God bless you my friend.

Thanks Dustin very motivating love to see the numbers makes it sink in alittle more.

Great information! Thank you for sharing! 👍

Thanks for the hope!

I started my 401(k) at age 54 around 16-months ago. Putting 10% plus a 3% match. Current balance is a little over $30k. If I can work until age 70 I'll have around $750k (assuming I increase contributions by 1% each year and get a 3% raise each year). I am a statistician, so I have very accurately run the numbers. I'm a T1 diabetic, so I know I will not have a long retirement. Have around $500k life insurance to support my wife if I die first, and never had kids. My circumstance is certainly not everyone else's.

Great job giving people hope!

A little positive spin on the situation. That's something we all can use.

I'm saving over a mil and never going to stop working out of preference. I'm already set for standard retirement. Now we need to move that age down.

Very hopeful, thanks!

I am a new subscriber. I have watched this video several times. It serves as an incentive and inspiration for me. I have begun aggressively saving toward retirement. I have deliberately not listened to people that tell me I need one or two million to retire. That seems like to high a threshold for a late bloomer like me. I love your can do attitude. It has me looking for more ways to cut expenses to put toward retirement. I have a 5 year goal in mind and a 10 year goal beyond that. I am looking forward to making these goals happen with some discipline and God's help!

Great commonsense approach, founded on realities. Good job.

Good information... I deal with people all the time that say they can't retire here in Florida...

Thank you so much for this video!

I am self-employed and no matter how much wealth I accumulate, I will never stop working. All men have to be working on something. Without work, a man shrivels up and dies.

I'm so glad I found this video!

Awesome. Thanks for including seniors like me. 👌😚 Great information

Great to learn it’s possible to retire young!

You know.... I don't know how many times I have watched you. A lot.

Good one, people always says it's too late. It's not, investment is for anyone at any age.

Thank you so much! I’m 49, waitressed my whole life & have very little saved. I just began a job w a 401k & am taking your advice. Blessings

Took a major weight off my shoulders - thank you !

Good video, i am 53 and have $300,000 saved contributing max 401k/yr.... hope to retire at 62 with $60k annual. Haven’t ran the numbers just contributions as much as I possibly can afford

Age discrimination is real, even if you are healthy and can still work, very few people want a 60 year old employee.

Thank you for this video!!

Love this Dustin!

Great video..thanks so much!!!

Good job on the video and thank you

Awesome! So encouraging keep it up man.

That was such a positive message. I'm inspired and motivated to do more. Thank you!

I really needed to see and hear this. I'm basically starting over from this point and have read a lot of the articles he was talking about. Thank you for bring me back to a hopeful place

I’m gonna turn 50 this year and this video gave me hope for a not so gloom next stage. Thank you 🥰🥰🥰

Great video. Many thanks.

Mr. Dustin, will you please make a video for people starting to save for retirement at 60. Thank you.

Excellent advice!!

I live in Texas and love making people smile. I say things to strangers that almost always make them smile. I met a lady last summer, as she was walking out of Walmart with a smock, and engaged her. She wasn't a very happy lady. She was skinny and looked like she had been beaten with a broom. I simply asked her if she was ready to take the rest of the week off. This usually gives people a reason to express their wish that it was possible. But this lady was not pleased my question and told me as much. We talked for a few minutes and it turned out she was 88 years old working at Walmart. She hated it. The rules and manipulation by management made her job difficult. I told her I thought no one should be working at 88 years old. She proceeded to tell me how her husband died 20 years earlier and left a mobile home with floors rotting. She had to work to take care of her home and working at Walmart was required. It broke my heart to hear that she had those problems and I was not in a position to help.

Very encouraging video!!!

I started late too but going to get to FI in less than 10 years hopefully.

I am glad u put that declaimer in, when u said $50,000 at 3.22, i was saying ok i am FFFFF-teh...lolololol

I am 61 and just starting my Roth make up plan, just found your channel giving me lots of hope, thank you.

Also for some additional optimism if the person delays taking social security until 70 they will get 24% additional annual income due to delaying it.

This is great!

Thank you sir!

Keep them videos coming

Thanks for the video. This all assumes you are also debt free. at retirement.

Thanks for the info 👍

Dustin, this is when you are at your best. You're not telling people what they can't do. You're teaching them what's possible. For this I thank you!

Thank you! I'm turning 50 in 2 months

Saying "ill never retire" is like saying " I'll never get divorced ", it isn't always in your control. Good video.

Please do a video starting at age 60, ( lower income and lower savings) thankyou

love your scenarios

Thank you for this! I've been a deer in headlights with taking action because it seems overwhelming at my age. Now not so much! Thanks!

Awesome content as always. I believe your going to go very far with your channel been watching a long time not sure why you dont have a larger following but im sure they will come. Im 33 cashed out my 401k about 4 years ago to help grow my business and buy some real estate both great choices and doing well but looking to start saving for retirement again separately. Can you do a video about saving for retirement in your 30s self employed? Thanks

Thanks for putting this up. Gives me hope to at least semi-retire. After some unfortunate events made far worse by even worse decisions I practically decimated my retirement. I thought I was gonna have to work for the rest of my life. I am turning 46 this year and this gives me hope to at least be able to semi-retire, even if I have to work part-time after 65-70.

It is never too late to invest. You got to do something to have some money in case you cannot work anymore. Just do your research and learn investing.50 years old is still young. Make sure if you have a house. Pay it off before you are 60 years old. Have no debt and have paid off car. No credit card debt. Be healthy and with that I think you are going to be set.

This seems challenging to do but not impossible. One option (though I understand not an option for everyone) which I have not seen discussed in most KZfaq retirement videos in general to reach enough to retire well is to relocate to a country where the dollar goes much further. I've looked into this and it's a complicated ball of wax, but also seems doable under the right circumstances. Assuming the country is favorable to retirees, social security can be collected in most, but not all other countries. Some of those countries have a tax treaty with the US (to avoid being double taxed on retirement income), others do not. Obviously there are many other general considerations to take into account, such as healthcare, infrastructure, and even language barriers for example. In many cases though, depending on the country, adding this option to the table could cut the amount needed to retire comfortably in half. I've been working for the past 35 years. Regretfully, I only just began seriously considering at retirement after receiving a significant pay increase from my employer at age 50. I'm now 51, but would still like to retire by age 60, while I'm still able bodied enough to enjoy all life has to offer. To do so I'm now contributing 15% of my after tax income to a 401 K with matching employer funds, another 15% to stock options in my employer's stock purchase plan at a 5% discount (a Fortune 500 company), and am saving $1000 each month. To do this I've also slashed my overhead by not owning a car, living in a small room for rent, and am currently evaluating ways to further economize my grocery purchases. As if all of that were not enough, whenever I have money left over (not often though) I try to make wise blue chip stock purchases instead of online shopping purchases, going out, etc. Even doing all of this now, I still don't believe I'll have enough to retire comfortably within the US by age 60, but I do believe it might still be possible to accomplish abroad.

Thank you for such inspiring and positive video 👍🏻👍🏻👍🏻, I’m in my 40s with very less savings, I was worried about future, but you encouraged me to invest. Thank you 🙏

This was such a perfect video! Average numbers & timely for those who dididn't think retirement was possible!

All my stuff is payed for and I drive a truck and only work when I want to. I can live on a 1300 dollar a month budget and I get payed to travel. I own shares in a camp grounds in Florida and in 100 acres of land. I have bared witness to the retired who don't do anything but watch TV all day and start drinking to much along with other bad habits. So I am part of that 29%, if that is what retirement is I will be working until I have to retire. Unless your Jay z I don't think it's gonna be so great. Just work alot less and keep using it, so you don't lose it is my way of thinking.

I am 50 and will retire next year.....because I have saved and invested all my working life and, more importantly, I have avoided debt my whole life except 1 home mortgage which I paid off in 7 years. Haven't even given a thought to social security.

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.

I had to start over at 40 was only making about 22k 15 years later i'm making 39k and i've managed to save about 132k. I'm on target to retire at 62 to 64 and collect social security at 70. So this video example is 100 percent right. 😊

Thanks for the video although I have no idea how did you come up with half a million return by investing around $6,500.00 per year +3% add on with 7% return for 20 years. Can you please show an excel file with 20 years break down? Thanks again.

Love the way you explained this. Hopefully 1 of those 2 decades won't be the like the 2000's decade. Thanks for thinking of us silver folks. The ad before your video showed an incompetent "dad" on his PC. It's always fun to be insulted by the next generation. ha ha

Excellent 🙏

Way to go!

This is all great! HONESTLY. But if you want REAL #'s take the $50K completely out and start at 50 with ABSOLUTELY ZERO if you want whats REALLY happening out there! But seriously, you have good stuff here.

Dustin if everyone with no hope of retiring with dignity could see these videos you put out it would change their retirement outlook completely. You are a bright light in a very dat room. Thanks

Thank you for this video. I have found the concepts of Minimalism and FIRE later in life and so much stuff that I see is aimed at high earners in their 20s and 30s. As someone who has always worked in the public sector and non-profits (with a reduction in the value of my wages in real terms since at least 2008) , grown up in the credit culture of the 1980s, plus having hardly any real understanding of finance beyond paying my bills, starting looking at this stuff age 50 can be daunting and makes me wish to have a time machine! Thank you for providing hope and some semblance of a possible plan.

My retirement plan was to pay for my son's college degree, all 5 1/2 years of it. I was a telecom tech and retired at age 58.

This is probably the best video clip I have watched. I have been reading a lot lately about working on my retirement plan and most of it felt like it was written for people in their 20s and 30s. I feel utterly motivated and the picture & purpose is clear ahead. Thank you.

The people I live around that say they will work for the rest of their life make maybe 30,000.00 a yr right now with no savings ! This isn’t even close to what is driving the age of into homelessness

Hi Dustin. I love your videos. I have learned a lot. Is it possible to make a video for the 2022 situation. The inflation is crazy high now. Can you advise on how to invest in the current situation? Thanks

Man... at 38 I was in the dark space wondering how to play catch up. This definitely was an eye opener.

I just bump mine up to 15% with 3% match in my Target fund (I'm no where close to the max limit). I still feel like I'm not putting in enough. Everyone is telling me I'm putting in allot. I have 20-24 years for retirement.

It isnt hard to retire, nor it is to live comfortably. What's hard is to be able to live comfortably and still prepare for a comfortable retirement.

Thank you

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

I am 52 years old now and was pretty much spoiled until my late thirties, didn't have to work until I was 38. When it comes to all these retirement stuffs, I am as blind as a bat. I did not saved a penny from my first 10 years of work but just started putting aside a little this last 3 years (around $15K). I don't have 401 or and of the other stuffs just my social security. My annual salary is $50K, no mortgage or rent to pay. Any advice will be greatly appreciated. Thanks in advance.

My dad got cancer and had no choice but to retire. I need to start saving.

Bounced upon this video and was very impressed with the information. What type of account are we putting away the 6481.00 into, into a bank account or a brokerage account.