I believe this channel provides solid content on interesting topics. One day he may have as many subscribers as you do!

Agreed. It's about expectation versus reality- if we expect monte carlo to indicate or be more meaningful than it is, we may end up in trouble. It's useful directionally, but does not provide the turn by turn directions most of us seek (and need) in order to succeed over time.

Hey joe! Cool seeing you in the comments! I watch you all the time!

For my part, I would never touch an annuity. However, drawdown mix plus fixed term would proceed. In this approach, you can profit from predictable income and returns on equity.

My girlfriend in Ecuador rented out her house for $500 a year. It had multiple gardens, a spacious living area, two bedrooms, and additional room for storage or crafting.

I'm lucky. My health insurance is not paid for. All I do is visit the VA hospital.

This is a great way to put it. In fact, with your permission I would love to borrow this statement. Excellently said. It's all about expectations versus reality.

Dividend investing can provide a reliable income stream in retirement, helping you cover expenses without dipping into your principal.

Roth IRAs are excellent for retirement due to their tax-free growth and withdrawals, especially if you expect to be in a higher tax bracket in the future."

As you get closer to retirement, adjusting your asset allocation to include more bonds can reduce risk and provide more stable returns.

Sorry - just added them to the description of the video - but here they are: Resources referenced in the video: Income Labs - incomelaboratory.com/ Everydollar - www.ramseysolutions.com/ramseyplus/everydollar RPI Spreadsheet Calculator - docs.google.com/spreadsheets/d/1rjDmswOlsNvuaOHNqGAcEemQZlVZSlsFmxVE550KPiU/edit?usp=sharing Better Portfolio Risk Measures - kzfaq.info/sun/PLNUMTwkQgp0-TC1PpAx7XP_ZlEKHKaI6L

Likening themselves to doctors, that was rich 😂

I think there's no reason to hire an advisor during the accumulation phase of the journey - at that point the primary focus should be on savings behavior (maximizing savings rate). Once one is entering the retirement risk zone (5 years before retirement, first 5 years in retirement), crafting retirement income and having a portfolio allocation both from a tax perspective and investment perspective is crucial. the portfolio allocation should SUPPORT the income one needs, not the other way around. To that end, begin by planning what income one will need from the portfolio, and then create a portfolio that supports that. From there, understand the loss recovery rule - that it takes longer to recover from losses (a 10% loss requires 11.1% gain, 30% loss requires 42.8% gain). The financial services industry has been a race to the bottom (in terms of advisor competency) because they are trying to compete with free online brokerage. As a result, the educational and experiential standards of investment advisors has dropped dramatically, unironically leading to worse client outcomes and therefore skepticism about working with an advisor. I cannot fault anyone for that. When it comes to quantifying the fee an advisor charges for investment management, I believe it is broken into 4 parts: 1) Time saved 2) Mistakes avoided 3) Tax saved 4) Portfolio downside protection. As I said in the video, there are all sorts of areas in our life where we choose (or choose not to) pay for expert advice. The best CPA's, lawyers, surgeons (whatever profession) charge a premium rate because they provide the best outcomes. No one has to work with that CPA/Surgeon/Lawyer. But if they want to, they can investigate, interview, and make a decision about what kind of care they want in each field. My case is the same for financial advice. People can investigate, interview, and ultimately make their own decision about who or whether they want to partner with someone. Some will, some won't. I'm simply out here to educate and increase awareness of the complexity of the endeavor, because that is my core belief. To each their own :). Thanks for the kind comment and the support of the channel!

:S