Dustin, thank you for sharing! I have been a diligent passive saver/investor since 25. No pension, just 401K. I'm 52 and my wife is 56. I plan to retire at 63. You and Heritage Wealth Planning have been great KZfaq teachers!

30-50 life getting in way: YES! - Started & lost business - 3 kids (thru college) - Divorce Life smacks you pretty hard in those years!

This makes me feel better about what I’ve done. I’ve smoked the 65 group. This show the importance of starting early saving and never let up. Thanks for the data.

When you look at expected retirement age, I don't think the number goes up with each successive group because they want to work longer, I think it is more likely that they have looked at their savings and realized that the are unable to retire as early as they had hoped, and they need to re-assess. At least, that was the case for me (still working at age 66 but wishing I were retired, planing to retire at age 68).

Congrats on the 4k clients, $100MM under management, and the soon to be 100k subscribers! I've recommended you to my family and friends. So far everyone is thrilled with their experience at Jazz. Keep up the great work Dustin!

The over 50 crowd is grounded in the reality that they have to work longer because they haven’t saved enough and they have changed their expectations on how much they need in retirement for the same reason...

I was a bit behind when I hit age 55 as life got in my way so I did something drastic. Threw everything at the retirement number. Now age 61 and I've been retired for 9 months. Savings rate for the last 4 years was over 75% of my income. I have saved just as much in the past 5 years as I did in the previous 30 years working. Stock market really helped in 2019!

WOW!! I’m doing a lot better than I thought. Retiring at 63 this year. I’ve smoked your 65 group. What’s that Dave Ramsey quote? “ live like no one else so one day you can live like no one else.”

This is a worthy topic of revisiting in 2024. Super interesting stuff !

When I turned 39, we decided to move to a state with no state income tax. Now, 25 years later, that move has allowed us to save an extra $250K for retirement! Stop throwing away money.

I'm just commenting to help get the attention of KZfaq's algorithms in hopes that it will draw more people to this channel. So much good financial info that people should know and NEED to know.

This video is awesome. You seem to know what we are all thinking.

Thank you for this video. This is a good perspective for my husband and I to see where we stand. We are both in mid-50's but may need professional financial guidance...more so of how to develop passive income at our age.

If it wasn't for the cost of health insurance more people would retire earlier.

Thanks. I would really appreciate if you did a deep dive breakdown on the smaller age brackets (ie 30-35) and crunch some numbers. Love your videos thanks.

Interesting stats. Makes me feel a lot better about my situation.

I was nervous to see where I fit in and supervised how good I’m doing after seeing your data. Always enjoy the channel man, keep it up.

Thanks for the important food for thought.

Wow! This was very helpful!

Definitely an eye opener!

You dont need a lot of money when your mortgage is paid off and no other debts except recurring monthly expenses which is paid in full monthly. When there is hyperinflation, all bets are off.

thx, great information

Nice job on collecting the statistics. It helps us understand how close to “average” we are. Would the savings numbers be significantly different if you had used median values for savings instead of averages?

Fascinating stats! I love this breakdown. Helps me feel not quite so bad about where we're at. Still behind where we want to be but it's never too late to get there. Thanks so much for geeking out!

Thanks for breaking it Down Dustin great reminder how important it is to get moving, think about it while you are doing it just get started.

Thanks for this

Great info. Much appreciated.

Once again GREAT JOB!

You keep commenting the "Life gets in the way" to explain the lower savings for the above 50-60 crowd. However, in the 1970-80's, when they started out, there were no online brokers and owning and trading stock was expensive. There were no 401k's (or they were just starting up). People were depending upon defined benefit plans and social security for retirement income. Saving for retirement was not as common a practice as it is now. People did not have the incentive or mindset to save for retirement that exists today. There were not the "wealth" of opportunities for saving and investing that exist today. Life may get in the way, but I think the reasons above are a better explanation for why older customers have smaller savings.

Great video... The numbers make sense as reality sets in. Most young boys want to be an NFL football player when their 12. ;). Younger folks, for the most part, have unrealistic expectations.

This makes me feel pretty good...gosh I thought the numbers would be higher

Very interesting!

Congratulations Nice milestone

Surprisingly low. Thanks for sharing!

Are these accounts or customers is a married couple two customers and therefore one should double the income and assets?

Thanks for sharing

I am always amazed how lofty the income goals are and how little people have invested to get there. The gaps are always huge! Looked at your fee structure. Not bad at all. I see you’re not accepting new clients. Oh well. Thanks for the numbers.

FANTASTIC perspective! Great insight as always. 👌🏼

very informative. thank you.

Surprised by the numbers, much lower than I thought. Everyone needs to save more to take care of their future golden years.

Good info. I know this video came out a while ago but maybe you can do something similar this with additional info. like how much did they actually have when they started their retirement if they hit their goal?

Looking to retire at the end of this year. Lump sum pension will be $680k. I obviously would roll that into an IRA. I am 51. What’s your take on a 72t? I am looking to work P/T to keep busy and probably won’t need a 72t until around 55.

Congrats! Good job. thank you for sharing it.

As of today, I'm 52 with about $1.06M. Retirement in, I hope, when I'm 65. 🤞🏻

Love this guy, but when I went to sign up it was all e-mail communication... just wasn't willing to invest hundreds of thousands with a firm that wasn't willing to call me back. Keep the videos coming, love the insight though!

Definitely, cash flow in 40s and 50s was highest. Kids were older and had larger expenses. Upgrade home, schools, cars, etc. 55 to 65 was able to increase investments and the investments grew in larger quantities.

Wherever you find broke people, you will find car payments, fancy houses with fancy finishes in them, $1,000 i-phones, student loans that last for decades, an amazon addiction, eating out for at least 1/3rd of meals, frequent trips out of town, and lots of nice clothes and jewelry.

Sadly no question posed to the flock about what they envisioned for monthly expenses in retirement. That's where it's at and should be question #1 then the rest of the questions. I'm a customer but a stealth customer and already retired. I appreciate the tools (Right Cap :-)) and of course Dustin's/Jazz Wealth's knowledge sharing.

Love this data you compiled for us!

do we need to double these numbers if you have a spouse or is the spouse income and living cost included in your numbers.

Congrats on meeting the undermanagement mark! Yes, between 30-50 life gets in they way!!! However, I can't complain, we have been blessed. Life is on track at over 50. Thank you for what you do!

Great video. With all the metrics there is one that I think would have added great perspective. That being the average Nest Egg Assessment of their probability of meeting their target.

I'm part of this statistic. I do need to contribute more to my Roth.

Thank you!

Appreciate the data, great video !

I’m assuming this is based on a single person’s ideals for retirement in each age group? I can see how the

Is this how much they bring to you, excluding their company account, Or including?

I’m sitting at 4x my annual income at 47 and feel like I’m way behind. I’m putting 16% of my gross income into my accounts but with kids getting to leave for college I doubt I’ll ever get truly ahead and will retire a bag lady.

I'm not the average 45 yr old. I have 500k between my Roth I.R.A, Roth 401k and real Estate properties. Lol. I'm also on the pace to max out my Roth I.R.A and Roth 401k. 19,500 and 6,000. 💪🏾💪🏾💪🏾

Doing contract work I always put in 15% incase I needed it for unemployment emergencies. Divorce took half at 30, 2008 took over half, The Numb skulls Managing funds I had took a piece. Got tired of it and took it put it in an IRA where I could trade it....Done well enough to give a little less than half to Dustin to keep me from doing stupid stuff with it since I'm closing in on retirement. Dustin/crew seems to be one of the few that actually works to make money. Nothing ticked me off more than be in a 401k plan that dropped like a rock on a market move down but barely gave back a blip on a big market move up. I wish I would have done more Roth when that came about. Figured I would just pay taxes if I ever made it to retirement.

What, did you just roll,out of bed and decide to make a video?….LOL. Great video!!

Great video.

Great stats Dustin 👍 Everyone needs to start investing early 📈

Pay your self first 10%, before any other expense. Never touch it. You're all set for retirement. Fail to do this, you will regret it.

Appreciate the video. These numbers are shockingly bad. The average savings/other income by age group is pathetically low. The average desired income in retirement is totally unrealistic. As people get older, you can see the desired income trend down. I believe part of the reasoning behind that is people slowly waking up to the fact that they didn't save enough while younger and are beginning to make compromises in their potential future retirement. A lot of people are going to be working a lot longer than they think.

Loved this! Thank you!

I don't understand how people live such extravagant lives. I was married with two kids making $20,000 a year made that work. I could easily live off $20,000 in retirement with less bills. Right now I make a lot more than that and I'm saving 50 to 60% a year towards retirement. Hoping to retire around 50 and live easily, possibly travel. Going to live off dividend income, use what I need then continue to reinvest anything extra to increase the dividend income, then pass it off to my children when I die.

$100M / 4000 accounts = $25K average per account

3:52 Those figures aren't inflation-adjusted, right? Makes sense then why someone looking at retiring in 2050 would want less in retirement than someone looking at retiring in 2030.

It was extremely helpful. I'm 58 so it was interesting not only to see the numbers but also to see to what extent I blend in with my peers.

Will you share this information on the Research Site?

Truly surprised that the numbers of the over 40 and 50 are so low.

I own about 50 rentals and let me tell you what I have learned about growing old in America. Old people are the shadow welfare class. Sure there are people like me that will retire with a six figure income but I can't tell you how many of my tenants have aged out. They get on social security, government subsidized housing, food stamps and medicare based on income. No one falls through the cracks. This system is in place because of the pathetic statistic that HALF of us arrive at retirement age flat broke. I knew one old guy who was sharp as a tack. He put everything he had in a trust that paid him nothing. Then he signed up for every program available. The government housed him, feed him, gave him health care, everything. Then he authorized the trust to give each of his children the max they could give him back without paying taxes. He traveled the country having a blast while the government paid all his bills.

Great info!

Great data and a fantastic job laying it out! For the Extra Income portion, is that monthly or yearly averages?

When Dustin writes the desired income (ie second line), does that number represent what a couple thinks they'll need or for a couple would it be x2? Assuming it is in today's dollars, if a couple's amount would be double that number then it seems many of the customers really want to live large! If the numbers reflect average couple's goals then they strike me as more reasonable.

Is it the older you get the less you feel you need to survive? Or as you get older does reality sit in and you haven't saved as much? It's easy to have lofty goals when you're young it's a little harder to fulfill them goals as time goes by

I expected a bump in 40-50’a savings with inheritance. Any idea what happened? Statistically, some percentage should get inheritance in that age group right?

Thank you, Dustin we are doing good at 56 y/o surprised your numbers aren't much higher.

Love these types of videos from you guys

buy a white board -easier to read

Im guessing 50+ group is working longer and expecting less...not because they enjoy it, but because,as you get closer to retirement..they dont have what they had hoped to have saved

For upper middle income households, a knowledgeable tax advisor will help you to keep more of your earnings, so you can invest more and build wealth faster. For this group, taxes are likely your 2nd biggest household expense.

Good insights.

Well I feel great about myself. 🙂

I'm older, so i'm working towards retiring at 50, been reading about investors making as much as $120,000 on a monthly basis from just investing and i'd really love to know what strategies to apply to make this much and reach my goals quicker.

Wow, this video makes me feel great. I am way over 10 times above your average for my age. And it is not even half what I invest each year.

I'm 27, I definitely don't think I'll need 110k a year in retirement lol. (Excluding inflation). Only 19k average under 30 also?? I'd figure that people under 30 hiring a financial planner would be much more financially adept with a larger sum of money.

Awesome. Very interesting to see where I land.

wow, the avg 50+ only has $87k. I imagine the avg person seeking financial advice is higher than avg overall too. People gonna be working forever.

The 40-50 doesn't have that much more than the 30-40 group because the 40-50 was investing during the "lost decade" of 2000-2009. If you started putting more aside in 2009 you've seen almost nothing but great market returns every year.

You should redo this video yearly

Well that’s a bummer 😪

Is this only accounting for your client’s holdings within Jazz? I’m a client, but have multiple other accounts and investments. If this is only our Jazz holdings, that could greatly skew the numbers and give others a false sense of security with how much they’ve saved by whatever age, and a false idea of where they fall within their peer group.

Is that income at todays value or in retirement value?

The mean vs average is a much more realistic amount. A very small amount of people could skew the total by a lot! In the 50+ crowd, What is the mean age of clients? And I take it that all of the starting total saved amounts were obtained when they began. What if the mean amount of time that clients have been with you? Not trying to be nosy. I wonder how these same group of clients would answer those questions after a given amount of time, maybe 5 years or what ever time period that would show them how their plan is working out and if the original projections were realistic.

Are these figures for a single person or a couple?

I’m there, just can’t pull trigger ughh

34yo with 100k saved

Well, this is very interesting. These numbers seem scary to me. If you want 100K in retirement income before SS age, with 4% rule, you need 2.5mil. If you want to wait for SS and assume 30K/yr, you need 1.75 mil. if you want 50k/year, cut those numbers in half. I’m not a financial advisor, but if I had someone ask me how to derive 64k from 200k in assets, even with 30k in SS, I don’t know how I would talk to that person (or couple). These must be very difficult conversations.