Protect Yourself From Running Out of Money in Retirement

Рет қаралды 311,696

Күн бұрын

If you are worried about running out of money during retirement, you are not alone. There are things outside your control that will impact your retirement funds. However, the more important things to worry about fall under your control and, with some discipline and knowledge, you can protect yourself against the external risks.
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This video is NOT sponsored.
The Retirement Nerds is the no-cost educational platform and serves to offer information around Medicare, Social Security, Financial Planning, and Estate Planning.
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Send me a message!
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Erik@TheRetirementNerds.com
⏰ TIME CODES ⏰
0:00 Rules of Thumb Problem
7:40 External Factors Outside Your Control
8:19 Longevity Risk
10:08 Investment Risk
10:59 Sequence of Returns
26:45 Inflation Risk
31:47 Rise in Taxes
35:14 Summary of External Factors
37:08 Internal Factors Within Your Control
39:24 Live for the Future - Fear
43:47 Overspending - Lack of Discipline
46:24 Adult Children - Love
51:17 Structure of Income - Knowledge
51:34 Ripple Effects of Decisions - Knowledge
53:52 What You Can Do to Prepare
56:19 Now and Later vs Multi-stream
58:07 Stocks
1:02:28 Now and Later Bond Ladders
1:05:14 Fixed Index Annuity
1:07:27 Fixed Rate Annuity
1:09:16 Bond Fund Portfolios
1:12:09 Pension-Like Annuity
1:15:11 Annuity Riders
1:16:47 Multi-Stream Bond Ladders
1:18:10 Dividend Stocks
1:20:47 REITs
1:22:49 Selling Stocks at a Loss
1:25:44 Asset Allocation Drift
1:29:39 Getting Help
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#90daysfromretirement #retirementplanning #financialfreedom
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Disclosure:
This podcast is intended for informational purposes only, and is not a substitute for personal advice from Capita. This is not a recommendation, offer, or solicitation to buy or sell any security. Past performance is not indicative of future results. There can be no assurance that investment objectives will be achieved.
Different types of investments involve varying degrees of risk, including the loss of money invested. Therefore it should not be assumed that future performance of any specific investment or investment strategy, including the investments or investment strategies recommended or proposed by Capita will be profitable. Further, Capita does not provide legal or tax advice. Please consult with your legal or tax professional for advice prior to implementing any strategies discussed during this podcast.
Certain information discussed during this podcast is based upon forward-looking statements, information and opinions, including descriptions of anticipated market changes and expectations of future activity. Capita believes that such statements, information and opinions are based upon reasonable estimates and assumptions. However, forward-looking statements, information and opinions are inherently uncertain and actual events or results may differ materially from those reflected in the forward-looking statements. Therefore, undue reliance should not be placed on such forward-looking statements, information, and opinions. Registration with the SEC does not imply a certain level of skill or training.

Пікірлер: 429

@GoodwalkSpoiled 5 ай бұрын

Regarding withdrawal rates and the fear of running out of money, these planners all fail to realize that seniors don't need to spend very much $ to be happy. The planners are too young to understand. Life is not linear. Nor are physical and mental health. Everyone 70+ is on borrowed time. Just being healthy is 90% of fulfillment. The rest is being mentally alert. If you're healthy and have your wits about you, life after 70 is just fine. Having excess $ doesn't mean a thing, except to greedy heirs. The financial industry paints a ridiculous picture of wealth, security and contentment in old age. In reality, nobody > 70 is trying to impress anyone, or compete - unless they're nuts. Older folk want health and a sense of purpose. Beyond that it's superfluous.

@Theretirementnerds 5 ай бұрын

Not sure how far you were able to make it. Keep watching though 😊 Zacc addresses this. Thank you for watching!

@douglasrandall6737 5 ай бұрын

Right you are. We have enough.

@georgesand6958 5 ай бұрын

I caught a nasty skin infection at 40, though, & really wasn't able to find anything to help until we had more $, from my husband's social security ( he's still working). I wasted good years because of lousy, clueless doctors, & an insurance company & former employer who couldn't care less. Clindamycin helps, IF they prescribe it, but the heartburn is unbearable. All this is to say that events can happen ( I also have misophonia, which is often VERY painful), that become shockingly expensive, & I still don't have a cure ( to a painful, contagious skin disease, & hair loss).

@teribeefplate 5 ай бұрын

A healthy 70 or 80yr old doesn't need a lot of money... That is until your health deteriorates, for any reason. If you need to pay for care or help of any kind... All of a sudden life becomes very expensive.

@ethanmurray2203 4 ай бұрын

All of that is true, but if you cant pay your rent or mortgage, or even property tax, life is hard. If you have to eat cat food, because you ran out of money. It's a real problem

@stemikger 3 ай бұрын

I'm 59 and turning 60 this June. I got laid off with a bunch of other people at my firm. I was a little down (for about a day) because I was one of those people who did the right thing over the last 30 years. I'm now retired and love it. I say that because over those 30 years I was a personal finance junkie and listened to all my financial mentors (John Bogle, Warren Buffett, David Bach, sometimes Dave Ramsey and now J.L. Collins) and this guy is the best new financial expert I have seen in years). It's nice to see these younger guys helping the new generation. Bravo, Bravo, Bravo and so well done!

@Theretirementnerds 3 ай бұрын

This is such a nice thing to say! Thank you so much for watching and sharing this comment. Really appreciate you!

@zacccall9897 3 ай бұрын

Such an amazing and thoughtful comment. Those are some big names and you probably stretched a bit with putting us in even the same paragraph, but hey, I will take it. Again, super kind and it means a lot. We sure try hard! 😀

@hilarygibson3150 3 ай бұрын

Snap, 60 in June. Retired nearly 5 years now and I find it blissful. I still enjoy not commuting!

@joselabiosa8892 Ай бұрын

@gauravipal9518 13 күн бұрын

Retired at 56 to take care of my Dad who had Alzheimer's. Been retired for 3 years. No regrets. My Dad passed away but I don't plan to go back to the workforce because I don't miss the toxicity at work. Of course this was only possible because i lived beneath my means and saved/invested at high rate during my earning years. Also a habit of living frugally means i need a lower nest egg to afford that lifestyle in retirement.

@markbernhardt6281 5 ай бұрын

About kids... Always place the mask on yourself before helping others.

@rayzerot 5 ай бұрын

True true true true true true One of the gifts my wife and I want to give our son is setting it up so he'll never having to worry about us financially when we get old. It's a gift our parents didn't give us so we hope he'll appreciate it

@maureenogorman8740 3 ай бұрын

Well put !!!

@asage5801 4 ай бұрын

This guy is one of the best ive listened to.

@Theretirementnerds 4 ай бұрын

Zacc is amazing! Thank you so much for watching and leaving such a nice comment!

@amytherese8402 5 ай бұрын

I'm 46 and had to pay for my own car and insurance at 16 and worked all through high school and college. In my experience, people around me who didn't have responsibility instilled lack motivation to work as kids and struggle to take care of themselves as adults.

@Theretirementnerds 5 ай бұрын

Learning that responsibility is important. Want to clarify... I have been PAYING my cell phone bill since high school, just on my mom's plan. Now... my wife and I are on our own plan and my mom actually joined our plan :) Circle of life with cell phones. Appreciate you watching and sharing your thoughts!

@jameskelly9243 4 ай бұрын

It was a lot cheaper to live when you were 16.

@timsans1170 4 ай бұрын

@@jameskelly9243 When I was 16 I charged $4 to mow the neighbors ½ acre AND THEY ALL COMPLAINED! It's all relative Jimmy

@globalfamily8172 4 ай бұрын

@@jameskelly9243 In some ways yes - we didn't have computers, cell phones, subscriptions and the price of homes were reasonable. Interest rates were much higher though in the 80s. We also did not buy new cars until after we had a home. Finally, medical insurance was affordable.

@StopMakingEveryoneDumb 4 ай бұрын

@@jameskelly9243 , there were also less opportunities and minimum wage was $4. Play the hand you're dealt. I can tell you're one who gives excuses and doesn't get results. IDGAF. It's your life so do what you want, but don't dissuade others from being financially wise.

@teams3345 4 ай бұрын

I find it hard to spend in retirement. Our house and cars are all paid for. It is so hard to spend after saving on all these years.

@Theretirementnerds 4 ай бұрын

It's such a difficult shift from save, save, save our entire life to spend, spend, spend. From past comments, seems like you are in a good spot and have planned well over your life.

@mundie33 4 ай бұрын

This is called the decumulation paradox and it’s a phenomenon well known to economists.

@-AdamC3O46...---- 3 ай бұрын

This is relatable

@lfrost6718 10 күн бұрын

Loved the video and truly understand the math. Your smiles of not understanding living on Ramen and beans was amazingly disturbing. I lived without running water and sewer for 6 months yearly for 5 years (frozen pipes) and I didn't move because it meant I could save more money. My rent was reduced. Now so many young people talk about not being able to make it when they are spending money on cable (we were lucky to get 3 channels) cell phones (many of us had party lines) hair cuts (only got a professional one on special occasions) fans were our air conditioner's and feet and buses our transportation. I'm 68 so its not that long ago and much of the world still lives this way. On top of that we supplemented one parents final years. A penny saved is a penny earned. Yet, we're doing our very best to spend it now!

@CaedenV 4 ай бұрын

Dude! This is the 3rd of these videos I have watched, and they are gold! And wile these videos are long, they don't feel long. They could absolutely be longer and I wouldn't mind at all!

@Theretirementnerds 4 ай бұрын

So glad they are helpful! A couple new videos coming soon 😉

@markm4242 4 ай бұрын

@@Theretirementnerds This is the 1st video in the series and I am very impressed. In 1 hour so many topics were talked about, all of which were of interest to me. The depth of each topic was amazing with how much was presented in an hour or so and how easy to understand even by this minimal financial knowledge person. The best part. We have all heard the financial planing hucksters on the radio, especially on Sunday mornings. I cannot reach for the dial changer fast enough when happening across them because they are one sales pitch after another at every turn. In this video no mention of any services was even made till the last minute or so of the video and then it was very soft basically the website addresses for further info. Love it. Thanks and Keep it up.

@Theretirementnerds 4 ай бұрын

@markm4242 this comment represents everything we're trying to accomplish. Thank you for spending time with us and taking the time to write this. Means a lot to us!

@fixedincome008 3 ай бұрын

I love them too. I listen to them while I’m doing chores or getting ready for work.

@MikeDavis-zg2ud 2 ай бұрын

retirement felt like a distant dream, but its becoming a reality for me and I don't know if I'm ready, 62, Ive saved up a decent amount but not sure if its enough, its a weird spot to be

@Theretirementnerds 2 ай бұрын

The psychological effects of saving for so long and then needing to draw that down can be significant!

@PeterParkar-nk6dw 2 ай бұрын

that fear of running out of money is a constant worry

@RobertNoppers 2 ай бұрын

I retired at 50 with little savings in my Roth and 401k and worried about surviving retirement. Now, less than a year later, I've just hit my first $1 million

@MarjorieRyanJoy 2 ай бұрын

that feeling you get just when your luck comes last minute

@br34dh34d 2 ай бұрын

@@RobertNoppers how exactly did you make that million

@chuchiyang7031 3 ай бұрын

Amazing! THANKYOU guys. So tired of fake gurus. Thank you soo much. It is refreshing the KZfaq ai is now feeding me something real

@WallaceDunn 4 ай бұрын

End of life medical expenses will deplete savings quickly. Leaving the surviving spouse living on SS alone.

@user-zq5hw3qj2i Ай бұрын

I outlived my wife. She died at 51........so, i guess no spouse to struggle on social security.

@davidfolts5893 5 ай бұрын

Thanks for these long-form KZfaq videos, Ninety Days From Retirement! Thanks also to Zacc, as well!! You are the dynamic duo of financial KZfaq videos, even without a souped-up 1966 Lincoln.😀

@Theretirementnerds 5 ай бұрын

Thank you David! Zacc is so smart and fun to learn from.

@davidfolts5893 5 ай бұрын

@@Theretirementnerds Positively!

@FlagstaffChief 5 ай бұрын

“Tolerance vs. Capacity” for risk. An excellent observation. 22:42

@Theretirementnerds 5 ай бұрын

Thabk you David!

@JimmyTheGreek2000 3 ай бұрын

00:00:00 - Rules of Thumb Problem 00:07:40 - External Factors Outside Your Control 00:08:19 - Longevity Risk 00:10:08 - Investment Risk 00:10:59 - Sequence of Returns 00:26:45 - Inflation Risk 00:31:47 - Rise in federal and state tTaxes 00:35:14 - Summary of External Factors 00:37:08 - Internal Factors Within Your Control 00:39:24 - Live for the Future - Fear 00:43:47 - Overspending - Lack of Discipline 00:46:24 - Adult Children - Love 00:51:17 - Structure of Income - Knowledge 00:51:34 - Ripple Effects of Decisions - Knowledge 00:53:52 - What You Can Do to Prepare 00:56:19 - Now and Later vs Multi-stream 00:58:07 - Common Stocks 01:02:28 - Now and Later Bond Ladders 01:05:14 - Fixed Index Annuity 01:07:27 - Fixed Rate Annuity 01:09:16 - Bond Fund Portfolios 01:12:09 - Pension-Like Annuity 01:15:11 - Annuity Riders 01:16:47 - Multi-Stream Bond Ladders 01:18:10 - Dividend Stocks 01:20:47 - REITs (Real Investment trusts) 01:22:49 - Selling Stocks at a Loss 01:25:44 - Asset Allocation Drift 01:29:39 - Getting Help

@G.Farr4 2 ай бұрын

And time stamps? THANK YOU!

@debbiedavis943 3 ай бұрын

Great video. You and Zac explain things really clearly. As a retiree, I think one thing Zac might have added to his list of how to protect your retirement would be to do everything possible to stay as healthy as possible by paying attention to diet/exercise and other self care.

@Theretirementnerds 3 ай бұрын

Thank you for watching Debbie! Great point!!

@fixedincome008 3 ай бұрын

I’m one of the DIY people you all have mentioned and I made it to the very end of this video and will replay the whole thing. Thank you so much for all these insights. And I highly appreciate your guest as I have watched all the videos where he is in it. 😊

@Theretirementnerds 3 ай бұрын

Zacc is amazing! Thank you for spending some time with us!

@christiekerns1109 5 ай бұрын

LOVED every min of this video! I am in my 50's and every bit of this info is extremely useful for me and my husband. You guys are TERRIFIC and i hope to see more! Thank you so much! ❤️❤️❤️

@Theretirementnerds 5 ай бұрын

So glad this is helpful!! Thank you so much for watching!

@dwalker6868 4 ай бұрын

This young man is awesome. I truly understood. Thank you.

@Theretirementnerds 4 ай бұрын

Zacc is the best!

@dandydan999 3 ай бұрын

1. Health insurance and health costs are the biggest unknown in retirement I dont think enough was discussed on this topic and how it should be planned for in retirement

@jessicacisneros2133 2 ай бұрын

This is my whole business. I do Medicare but mostly retirement planning to PLAN for that cost with blue collar and public workers.

@indydawson 2 ай бұрын

While it is true that a health catastrophe could place a serious strain on your retirement funds. There is plenty of statistical evidence to support an educated guess about planning for such contingencies.

@Belthazar44 4 ай бұрын

Zach is one of the few FA who has the ability to succinctly explain topics while not being an alarmist. He and his team put on an excellent presentation covering a merrid of topics, although the SS segment was truncated. I highly recommend people give it a watch👍

@Theretirementnerds 4 ай бұрын

Thank you for such kind words! He is amazing and we love having him on for these conversations

@hogroamer260 3 ай бұрын

This was a great discussion. The "multi year tax plan" is spot on. Converting even a million dollars is tough, not exceeding the 24% bracket, even $100k per year, the account builds back over the course of the year. Almost needs to be $200k. My tip, convert after a correction to get the most moved over in any particular year.

@SpookyEng1 3 ай бұрын

Good advice and saves taxes on an equal number of shares

@BadApana 5 ай бұрын

Thank you for affirming the DIYers.

@RajivKataria 19 күн бұрын

This is really great! I have watched some of your other videos on social security and taxes as well. Over the last six months I have been watching KZfaq videos, reading relevant material, projecting stuff using off the shelf software, and talking to supposedly knowledgeable financial planners (from reputable companies) - no one has provided a comprehensive approach (breadth and depth) to retirement planning as you guys have (and I have substantial financial experience). Thank you!

@Theretirementnerds 19 күн бұрын

Thank you so much for spending time with us! So glad it is helpful!

@suracharawirojratana8723 21 күн бұрын

Thank you to DAVE RAMSEY for helping me getting out to debt and be financially independent 🙏🙏🙏

@sherrylewis6932 3 ай бұрын

Excellent! Thank you so much!

@sonja8942 2 ай бұрын

This is why I’m a dividend investor. No complicated math, I simply reinvest half of all the dividends received and I will not run out of money as I have been doing this for 7 years and I now have more than what I started with.

@Renee847 2 ай бұрын

I need to do that! Can you tell me where to start?

@sonja8942 2 ай бұрын

@@Renee847 just start buying high monthly paying ETFs that you like and be sure to reinvest at least half into the same ETF or a new high paying one and keep it up. You’ll build up your dividend amount each month and the more different positions you hold the safer you will be. If you don’t like price decay in one or two of your choices just sell and move to another. Give it time and it will work!

@brianruff1133 23 күн бұрын

You miss out on some of the best growth stocks doing this though.

@deanrotering879 9 күн бұрын

@@brianruff1133 he also misses out on the much bigger risk of growth stocks

@SK-qt1rm 2 ай бұрын

Here’s a story: I found out that my dad cashed out a huge chunk of his investments to fund for a new house while waiting for their old house to sell. (He was born in 1938). He was so proud that he didn’t have a loan on anything. The old house sold within 6 months of their move. I can’t remember how, but about two years later, I found out that they paid around $50,000 in taxes. They had an independent tax person that didn’t discourage them from doing it. They could’ve maybe paid $5-10k in fees and interest for the 6 months difference. They lost $40k- $45k within maybe 5 years of his retirement. BTW, old house sold for similar price as the new.

@APeeKay 5 ай бұрын

Loved this video and this whole series. Learning a lot on how to systematically think about managing money, withdrawals, etc. during retirement.

@Theretirementnerds 5 ай бұрын

So glad it has been helpful! Thank you for watching!

@janestopmiller3804 3 ай бұрын

Your last comment was spot on. You do such a great job explaining these strategies. This is better information than I have ever heard before. Thanks for these videos!

@Theretirementnerds 3 ай бұрын

Thank you so much for watching and taking the time to leave such a nice comment! We appreciate you!

@lcas2891 5 ай бұрын

Thank you for this info. It is nice to have a more balanced viewpoint on the subject and not the doom and gloom I've seen others post. this is my first day of retirement. After watching this I am happy to have confirmation of my plan to "lay low" and keep spending down in the coming year.

@Theretirementnerds 5 ай бұрын

So glad it was helpful for you! 🙂 congratulations on Day 1 of retirement!

@vanbrendle 5 ай бұрын

Excellent conversation which I found great value in. Thank you!

@Theretirementnerds 5 ай бұрын

So glad it was helpful! Thank you for tuning in!

@lidarman2 9 күн бұрын

I'm in a pre-retirement glide slope and this is gold.

@Theretirementnerds 9 күн бұрын

So glad it was helpful!

@zanylady8508 20 күн бұрын

This was incredibly helpful to me and answered so many of my questions. Can’t thank you enough.

@Theretirementnerds 20 күн бұрын

Thank you for watching!!

@dmjh932 5 ай бұрын

Longevity is abused by most financial advisors. It simply scares people for no good reason. There's a reason insurance companies win more than they lose. It's called actuarial tables and playing the odds. How you invest and how you go about preserving your wealth depends on so many variables. The most important in retirement is your amount of debt, if any, versus your cost of living. Always have a budget and live within it. I've been retired (so to speak) for 10 years. My wife and I live easily off our SS. We have a net worth of a few hundred thousand dollars. However, we've yet to need really any of it. Why? We live without debt and within our means. It helps that we live in the Mid West where the cost of living is lower than many areas of the country.

@Theretirementnerds 5 ай бұрын

Thank you for sharing your perspective and experience. Not sure how much you were able to watch, but I think in general, we agree with you. Living within means is vital. If someone can't do that, hard to ever have enough

@dmjh932 5 ай бұрын

@@Theretirementnerds I watched the entire video. But I have never understood why somebody would remain living in a section of the country where the cost of living is extremely high. I realize there are exceptions. However, I'm convinced that most could move if they really tried. I would never live in a state where I had to struggle to get by year in and year out. You might have to make some concessions. But it's worth it. Now that's good financial advice.

@Theretirementnerds 5 ай бұрын

@dmjh932 can definitely understand that perspective. From my personal experience, if I tried to convince my wife to move away from her family for an extended period of time, I'd be sleeping on the couch for the rest of my life 😬. And, once retirement becomes a reality, trying to convince her to move away from our kids would be equally challenging. Hopefully, our kids will choose to live in a lower cost-of-living part of the country 🙏 Definitely agree with your logic!

@Quinu12 5 ай бұрын

@@dmjh932 The main reason for not moving is starting over socially. The older you are, the harder it is. The dynamic has certainly changed over the centuries, but imagine telling an ancient native American they had to leave their tribe and go to another tribe just because they are old and it's cheaper for them to live with another tribe.

@dmjh932 5 ай бұрын

@@Theretirementnerds Understand. However, during our 55 plus years of marriage we never allowed our family or our children to influence our financial decisions. I worked for some years in radio broadcasting. In media employment a person often must move while hoping to improve their lives. We lived in small and medium towns as well as a large metropolitan city. Once we even chose to live for almost two years in a major Old Order Amish settlement in mid Missouri. No utilities. No plumbing. No telephone and no running water. Our children had to take a horse and buggy to school. We started each day by hand milking 15 Holstein cows. Now in hindsight, I don't want to imply that these were great choices. But they were ours. But I do know many people think of family, friends and children before riding off into the sunset. More often than not. It's not where you live that brings about struggle. It's the choices you make.

@gahippie2017 5 ай бұрын

Excellent content!!! Happy 2024!!

@Theretirementnerds 5 ай бұрын

Thank you so much!!

@games4music 3 ай бұрын

Thank you! Host & guest great 👍

@Theretirementnerds 3 ай бұрын

Thank you!

@kevinsteward1 4 ай бұрын

Loving this series - eloquent and simplistic in understanding

@Theretirementnerds 4 ай бұрын

Thank you so much, Kevin! New episode dropping Sunday!

@Tradeya 16 күн бұрын

Thank you for sharing your knowledge. Great episode, watched the entire thing.

@Theretirementnerds 16 күн бұрын

Thank you so much for spending time with us! So glad it was helpful

@candierven9663 Ай бұрын

Great video - glad to see the "realness" in the convo. Thanks, guys!

@Theretirementnerds Ай бұрын

Appreciate you watching!

@pgpc6448 4 ай бұрын

All facts here in this video. 🙏 I’m 67 later this year and this is all I think about. Thinking minimalist, nesting, what do I really need at this point b4 retirement, when to retire is a gamble as well. Thank God, as a single woman I can afford my mortgage to own my own home is security at this time. ATM, my financial advisor is the person I talk with more than anyone else!

@Theretirementnerds 4 ай бұрын

Thank you for spending time with us!

@user-cf1tm6fx4w 5 ай бұрын

This is great. The detailed "toy" examples of all of the math are so incredibly helpful.

@Theretirementnerds 5 ай бұрын

So glad this is helpful! Thank you for spending some time with us!

@stevegrantham1711 3 күн бұрын

Very thorough and helpful!

@Theretirementnerds 3 күн бұрын

Thank you so much for tuning in!

@marleybeem6537 5 ай бұрын

Excellent - lively, informative, empowering

@Theretirementnerds 5 ай бұрын

Thank you for spending some time with us!

@Banthah 4 ай бұрын

Love this video. Not seen your content before, gotta say this was excellent, and I have subbed. Nice to see something fairly generic that covers all people in all countries. Being from the UK, when I see specific content on things we don’t have here, like IRAs, then obviously I don’t watch. But this video is just good sound general advice that anyone can benefit from. Good stuff!

@Theretirementnerds 4 ай бұрын

Appreciate you watching! Glad you found us 🙂

@patoises 5 ай бұрын

wow thanks, so many lightbulb moments for me, this helps so much as I prepare for retirement in a few years time

@Theretirementnerds 5 ай бұрын

So glad it was helpful! Thank you for spending time with us!

@paulanderson2464 3 ай бұрын

Outstanding how well you put this together ! There's so much good information packed into this presentation, I found myself having to play it multiple times. This is the second vid I've watched and both are just fabulously insightful. Yeah, I used to listen to Dave Ramsey... even bought tickets to bring some of my cash strapped culinary colleagues to one of his live events... I had plenty of room to stretch out. I quickly grew out of debt and haven't looked back. This video provided me with the idea that there's multiple financial avenues available. It makes me realize the old saying is true... "There's more than one way to get to California". It just depends on how much time you have to get there, what risks you're willing to take along the way, and your comfort requirements. PS I hope you can splice in an interview the 106 year old for a cameo or sound bite.

@Theretirementnerds 3 ай бұрын

Thank you so much for saying this Paul! You are too kind! Check this video of her out! kzfaq.info/get/bejne/etKCo7eU3K3RZas.html

@hermes8258 2 ай бұрын

It's like listening to the Odyssey or Man of LaMancha. It will take listening several times and testing oneself on content to get all of it - the sign of useful content. I will listen the second time take notes.

@eugeniahutiu 4 ай бұрын

Thank you!

@Theretirementnerds 4 ай бұрын

Of course! Thank you for spending time with us!

@Ubiquitous_1 4 ай бұрын

1st time on your channel and this was super helpful. Will be tuning into more.

@Theretirementnerds 4 ай бұрын

So glad you found us! Thank you for spending some time with us!

@Iamdunne3 5 ай бұрын

Thank you for sharing this knowledge and trying to educate

@Theretirementnerds 5 ай бұрын

Thank you for watching 🙂

@janetkenny4861 Ай бұрын

You both are so compassionate with how people may feel in all of these scenarios, it isn’t just about numbers, it is about people’s lives and well being. It is clear you want people to live their best lives and money shouldn’t cause anxiety. 🙏😉

@Theretirementnerds Ай бұрын

Thank you for sharing this!

@joghog 5 ай бұрын

This is the second guest appearance that I've watched with Zacc Call. Both were relatively long, but he makes the information so easy to understand & listen to....makes it entertaining (not exactly the correct descriptive word, but you know what I mean), 😄 & the time goes by pretty fast. Also, I want to see the 106 years young lady on here one day. ❤

@Theretirementnerds 5 ай бұрын

Zacc has a gift, for sure! We are making an update to this because we've been able to spend a lot more time with her over the past year, but here is the video we did with her when she was 105 🙂 kzfaq.info/get/bejne/athjaLeLv8mWeXk.html

@joghog 5 ай бұрын

@@Theretirementnerds I wanna grow up to be her! ♥️

@mundie33 4 ай бұрын

Very well rounded overview. Time and time again peace of mind and guarantees come up as the most important thing to retirees. They are fortunate to live and retire in this current rate environment. Hes the only YT advisor I’ve seen talk so comprehensively

@Theretirementnerds 4 ай бұрын

Thank you so much for spending time with us and writing such a nice comment!

@eduardooramaeddie4006 5 ай бұрын

Hello 👋 thank you for your Guest on retirement money 💰 thank you

@Theretirementnerds 5 ай бұрын

Of course! Thank you Eddie! Zacc is very sharp!

@eduardooramaeddie4006 5 ай бұрын

@@Theretirementnerds great 👍

@greggis3691 3 ай бұрын

I plan to retire this year, and this post was extremely helpful. Thank you!

@Theretirementnerds 3 ай бұрын

So glad it was helpful! Thank you for spending some time with us!

@pamela7211 3 ай бұрын

Very informative! Thank you!

@Theretirementnerds 3 ай бұрын

Thank you, Pamela!

@sammyalabamy111 3 ай бұрын

Awesome....Dave Ramsey

@igorkot5895 4 ай бұрын

love it!

@WilliamMartinez-vq2bn 3 ай бұрын

The best advice iv ever gotten about how to live in retirement came from the poorest people in the comment section of many yuptube videos thanks for the video!!!!

@thecurtisfamily3810 Ай бұрын

I’m impressed you comment to everyone. New to the channel.

@Theretirementnerds Ай бұрын

We try to 🙂 some slip through or are trying to start fights. We try to avoid those.

@jrluster 4 ай бұрын

The probability of heads or tails is always 50 50. Love the talk and great information. Thank you.

@Theretirementnerds 4 ай бұрын

Thank you for watching! Yes, on 1 flip, probability is always zero. But on multiple flips, the probability of 1 of the outcomes is greater than 50. For example, if you flip a coin twice, the probability of flipping heads just once out of the two flips is 75% Hope that helps! Appreciate you spending time with us!

@user-gx6lf3oq8u Ай бұрын

your show is excellent. I learned a lot.

@Theretirementnerds Ай бұрын

Thank you for spending time with us!

@sandrakaylindsay952 4 ай бұрын

Thank you for this video. It was very informative and I really appreciated the discussion on asset allocation drift.

@Theretirementnerds 4 ай бұрын

Thank you for watching! It was a long one 🙂

@daylemunn1334 5 ай бұрын

I enjoyed this so much!

@Theretirementnerds 5 ай бұрын

Thank you so much for spending time with us!

@michaelmiddleton3311 3 ай бұрын

Housel's book was great! "Die with Zero" was also great. Preaching to your choir. Thanks guys!

@Theretirementnerds 3 ай бұрын

Thank you, Michael!

@youdqtube 3 ай бұрын

Great job, as always, gents!

@Theretirementnerds 3 ай бұрын

Thank you so much!

@freedomlife3623 3 ай бұрын

Personally I believe in moderation, don’t believe in living on beans just to save for retirement. We travelled during our working years, enjoyed life as much as we can. Key is figure out how much you need to save and invest that amount in portfolio first, then you can spend the rest guilt free. Also work hard to earn as much as you can without breaking your back or burn you out. It’s a balance act for sure.

@inspectorjohnson11 3 ай бұрын

myself I tried to create enough wealth that my children and grand children may reap the rewards. I would hope that is most people's goals

@billsorensen6873 2 ай бұрын

Push education and responsibility when they are young. Raise kids who stand on their own financially. Then you don't need as much in retirement. Worked well for us.

@kellanhills1972 Ай бұрын

I think giving my kids and grandkids money they didn’t earn or deserve is a useless thing and can be detrimental. Make your own way. Paid for my kids education otherwise they expect nothing

@TheBryanmauro 12 күн бұрын

What about my grandkids, got any money for them. ;)

@rosemarykingpate7832 8 күн бұрын

Except for those of us without any kids. 😁

@cgong415 4 ай бұрын

This is a great talk, I learned a lot from this talk.

@Theretirementnerds 4 ай бұрын

Thank you for spending time with us!

@youtubesurfer478 5 ай бұрын

Thank you for this informative video. I would add catastrophic medical incidents(s) is a risk as well. And for some people, even if health and nutrition are within their control, some conditions are surprises doled out by the universe outside of their control.

@Theretirementnerds 5 ай бұрын

100% great point to add!

@adamgriffith768 4 ай бұрын

Imo I usually don't consider insurable risks to be that risky. You can insure away risk of long term care, and medical risk. It may not be extremely cheap to insure away these risks, but it's worth it imo for the security, especially if you're the bread winner.

@timsans1170 4 ай бұрын

@@adamgriffith768 It's Extraordinarily Expensive!

@joselabiosa8892 Ай бұрын

As always, great content and very useful. I've been retired now into my 3rd year now a practitioner of time segmentation/bucket approach. I was surprised the financial advisor missed the opportunity to talk about the role and utility of buffer assets that are independent from the markets. Specifically, having a cushion of liquid cash you can tap for emergencies during market downturns. Specifically, emergency savings, reverse mortgage and cash value of life insurance. And the biggest challenge now is restructuring of the portfolio to endure stagflation and a falling dollar by diversifying portfolio in order to bring income from stable foreign countries including developed and emerging market economies.

@WEABRNC 5 ай бұрын

Great content!!!

@Theretirementnerds 5 ай бұрын

Thank you so much!!

@joefullam 5 ай бұрын

Regarding inflation, on the flip side, with most retirement planning calculators (and planners) confuse inflation rate versus a retirees personal inflation rate. My personal inflation rate is very different in retirement as I have no mortgage, no kids, one car, etc.

@SpookyEng1 3 ай бұрын

Knowing your own expenses and accurate forecasting is the key (and suitable “safe assets for Market downturns).

@lvega5606 21 күн бұрын

This is one of the best financial planning / investme t videos I've seen so far on youtube. Im in banking, and know quite a bit, but I even learned a couple things.

@Theretirementnerds 21 күн бұрын

Thank you so much! 🙏

@irpain8617 Ай бұрын

Delayed SS till I turned 68 and wife reached her full SS. I look at SS as insurance against running out of money in old age. Live modesty and still able to help our kids.

@2023Red 5 ай бұрын

I am that 75 year old man who you might refer to as not being able to take out 4% from SPY. Today is Christmas Day and the last 365 days SPY is up 25%. Dave Ramsey was being cautious with his 8% figure. My rule is to withdraw the profit already baked in. Example for a $400,000 portfolio on Christmas Day 2022 is to sell then withdraw that 25% tomorrow. That is $100,000 in cash into my checking account. At zero risk I might add because it is profit taking. It is simply basic math, do not count your chickens until they are hatched. In this case, I have 100,000 chicks to hatch. By the way, it very difficult to beat the market.

@Theretirementnerds 5 ай бұрын

Thank you for watching and sharing your insights!

@SpookyEng1 3 ай бұрын

What do you do when SPY drops 30% and stays there for 5 years?

@2023Red 3 ай бұрын

@@SpookyEng1 SPY down 30% for five years? Show me that data? You are smoking your breakfast. No empirical data at all. My suggestion for you to consider is do better than your post to me. Just ignorant!

@Cassandra-..- Ай бұрын

Oh, my eyes started to glaze over at about the 1 hr mark. This is the point with the financial advisor where I want to talk biochemistry or immunology and give them a reciprocal headache about what I know, lol. So glad you asked for examples - it makes all the difference to someone struggling to understand concepts AND terms at the same time.

@carywinn3391 3 ай бұрын

Brilliant discussion.

@Theretirementnerds 3 ай бұрын

Thank you!!

@clarkprice7833 5 ай бұрын

Great video! Thanks to both of you for taking the time to discuss this very important topic. As a 75 year old retiree, I found the discussion very understandable and useful.

@Theretirementnerds 5 ай бұрын

Knowing this was helpful for you makes us both so happy. Thank you for watching and taking the time to brighten our day with this comment.

@claudia-vp1kd Ай бұрын

The analogy of the casino is also true, you can play and expect to win at some point, but for that, you need a good amount of money to continue playing until you are whole again

@christopherplessinger4664 4 ай бұрын

This guy speaks to something that's been hard to deal with: dealing with the swings of the market

@Theretirementnerds 4 ай бұрын

100% and the takeaway we hope is not "try and time the market." That's been basically impossible. It's more along the lines of structure investments so that, when the market is down, you are taking money from assets that are not stocks that happen to be down 🙂 Thank you for spending time with us!

@roughster1615 10 күн бұрын

Wow, what a great video! Thank you for sharing all of this insight! And yes, I watched it to the end. Sprinklers aren’t as complicated as this ;)

@Theretirementnerds 10 күн бұрын

Haha! Sprinklers are my nemesis

@jakepapa6516 Ай бұрын

This was absolutely AMAZING. "If you've made it this far, you're probably pretty DIY," i loled.

@Theretirementnerds Ай бұрын

🙂 glad you made it that far haha

@jennellrogers9007 5 ай бұрын

With the immediate annuity you really would need to consider your age when purchasing the annuity. Also for people who would need Medicaid for long term care nursing home expense the annuity would disqualify them

@DS-ql3ou 3 ай бұрын

Great hair! No kidding this episode makes me think about some things I don’t normally think about, like optimizing types of dollars withdrawn and their corresponding tax brackets.

@Theretirementnerds 3 ай бұрын

Passed this comment on to Zacc so he knows his hair was looking good that day :) Thank you for spending some time with us!

@jamesgardner7312 3 ай бұрын

Great content

@Theretirementnerds 3 ай бұрын

Thank you James!

@johnbirman5840 4 ай бұрын

A Really good explanation of Sequence of Return Risk. I’ll give you a Real world example. When I retired in early 2022, I began to prepare in 2021. Capital gains were taken in early 2022 while the Markets were still high as lower income once retiring was lower, hence eliminating much of those Capital gain taxes. Going into mainly Cash type instruments, Risk was lowered to zero re: market fluctuations, while earning about 4-5%. I ‘ve stayed in this for a full 2 years. Portfolio has a Total Return Of 11-12% with an additional 5+% for 2024. My old Balanced portfolio is still down after a full 2 years about 8%. To catch up to the Cash position it will this year need to rise about 24%. This does not include any withdrawals over now 3 years. Cash type investments (T-Bills/CDs/ M.Ms) are normally less advantageous than a Balanced approach. But it has been for the past 2 years. By the by a straight S&P portfolio would have to rise about 12% this year to also match. Capital preservation with no risk to capital AND a 5% annual return to boot in early retirement is a no brainer to me - for now. Cheers.

@Theretirementnerds 4 ай бұрын

Thank you for watching and sharing your experience!

@ChandlerDavidBlake 2 ай бұрын

Don’t apologize for the long form conversation. Loved every minute and super helpful in affirming what I thought and introducing additional thoughts for me to consider. Question for Zacc- assuming I were to retire at 52 with 1.5M in an individual (aggressive) stock account and .5M in 401k and Roth IRA, in a now-and-later approach, how does placing money in a money market fit in? My thought is to take a chunk of money, say 3-4 years cost of living, and place it in a money market, earning 2-3%. Harvest stock earnings, maxing out the 0% capital gains tax amount to live off during up years, and live off the money market during down years. This allows the 401k and IRA to continue growing for a decade (likely quadrupling to 2M with the aggressive investments), allows the individual account to grow 5+% in addition to the harvesting during average return years, and allows me to ride out any 3-4 year dip in the market without a need to sell stocks at a loss. Thoughts?

@indydawson 2 ай бұрын

I’m 71, my wife is 48. My portfolio reflects decisions based on her age more than mine. I loved this video. I do and don’t do most of the things mentioned. I do take money from my most aggressive investments and slowly feed them into my more conservative investments. Understand, my more conservative investments are aggressive for a 71 year old male. The one thing I don’t engage in is a preservation of capital strategy. I grow my net worth. One of the things I’ve accomplished is my spending varies from 40% to 50% of my income. Soon that will change once my wife qualifies for Social Security. I will then supplement my retirement income with the passive income from my non-tax protected account while continuing to grow our Roth.

@Theretirementnerds 2 ай бұрын

Sounds like you have a strategy that's working! Thank you for spending time with us!

@LikeitnowLoveitlater 5 ай бұрын

This was an amazing and comprehensive discussion for starting key information for financial education. Thank you!

@Theretirementnerds 5 ай бұрын

So glad it was helpful! Thank you for spending some time with us!!

@johnurban7333 23 күн бұрын

Great video. At the 1 hour mark what percentage would be good for the growth and what percentage for the near term

@thebigredfish 3 ай бұрын

Man, this guy always looks like the nerd from a movie where he gets contacts, drops the register of his voice, and turns into Ryan gosling. Great information. Thanks!

@Theretirementnerds 3 ай бұрын

Hey, any comparison to Ryan Gosling is a win in our book. Zacc is a handsome nerd for sure 🤓 Thank you for watching!

@tz55lj 5 ай бұрын

War Chest - great analogy

@Theretirementnerds 5 ай бұрын

Thank you for spending time with us, Todd!

@krihanek117 4 ай бұрын

With the portfolio he describes at 1h24m you re-balance yearly and when you re-balance you sell to cash that you will withdraw through the next year. You do not sell stocks and bonds every month, only when you re-balance.

@hogroamer260 3 ай бұрын

Although I keep a year to year and a half of expenses liquid, it could be argued that staying fully invested and selling each month for a "paycheck" is just reverse dollar cost averaging.

@hummerchine 4 ай бұрын

If you have dollar-cost averaged into the market your entire career, then why is it a “mistake” to dollar-cost average out during retirement?

@tadrenaline 5 ай бұрын

Honestly great video that cuts through a lot of the noise. If you do a follow up video like the Roth vs traditional one, I think the most controversial opinion was the selling stocks at a loss section which I'm still grasping to understand. To me it just seems like a form of market timing and seems to go against a lot of conventional advice such as the 4% rule study that is assuming a regular withdrawal. While not overly common, stocks can stay down for much longer than 3-5 years which Zacc addressed earlier in the video, but what do you do when your "war chest" runs out even if you funded 5 years and all you have left are stocks at a loss?

@Theretirementnerds 5 ай бұрын

Thank you so much for watching! The biggest thing there is for those with automatic withdrawals taking from all asset classes, even when the market drops. If someone can have a portfolio where there are lower-volatilty assets to pull from during down periods and then, during positive times, re-balance to where stocks are sold at a gain and those dollars are moved to replenish lower-volatility assets, that's the ideal. Not everyone is structured this way, so we get that we're not covering everyone's personal situation, but the hope is that people can see this and start thinking about how to protect themselves against the 10 risks mentioned. If we do a follow up Q&A, this one will make it in there 🙂 Appreciate you!

@Laura-kb5sr 5 ай бұрын

@@Theretirementnerds Isn't this still timing the market?

@RandomJane104 Ай бұрын

I'm 50 and still on my dad's phone plan. I use to reimburse him but he didn't deposit the checks so I stopped sending them. He's 80 and having to take out more money than he needs due to RMD. It isn't like he's struggling to pay the bills. So I figure it just means slightly less inheritance.

@jacquie212 4 ай бұрын

I am planning to retire at 62. The idea being if there are any issues with the market being down I would hope to delay retirement by 2-3 years to mitigate. Alternatively if I can 2-3 years of cash then maybe just count the pennies for a couple of years. If I have to I will go live somewhere cheap for a couple of years while there is a low chance of health concerns and traveling to see family is easy. Basically I generally hear on your videos that being dynamic and flexible is key.

@Theretirementnerds 4 ай бұрын

Flexibility is a big asset that's hard to quantify :)

@CaedenV 4 ай бұрын

I think that a lot of this is taken care of by looking at time horizons and different investment types. If stocks are down and I am liquidating a bucket of CDs and bonds then it isn't going to affect me to pull that cash out because it isn't the stocks that are being sold. It is the same idea of having different tax buckets to pull from and using different vehicles like a normal brokerage acct, 401k, Roth, and HSA accounts. The different accounts give you the options to do what is best in the moment regardless of what is or isn't most efficient in your younger years from a tax perspective. Efficiency, optimization, flexibility, and time horizons all work with and against each other. Getting your head around that really opens up your complexity.... But also helps with protecting yourself and your assets.

@Theretirementnerds 4 ай бұрын

Very well said!

@user-fv6ke8vv2z 4 ай бұрын

Never married / no kids / but what I do need is - Comfort / Convenience / A part time lover / … it’s all about income and affordability , and some common sense 🤣