What Your Net Worth SHOULD Be by Age 50

Рет қаралды 184,473

Ай бұрын

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About this episode:
Ever wonder where you stand financially for your age? In today's video, I'm digging into what your net worth should be by the time you reach the big 5-0 and sharing some tips for getting your finances back on the right track.
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@austinbar Ай бұрын

It's recommended to save at least 20% 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 20% 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.

@rogerwheelers4322 Ай бұрын

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

@joshbarney114 Ай бұрын

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

@FabioOdelega876 Ай бұрын

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

@joshbarney114 Ай бұрын

I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

@FabioOdelega876 Ай бұрын

Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.

@SeanTalkoff Ай бұрын

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

@lawrencedyke Ай бұрын

I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

@DavidCovington-st2id Ай бұрын

I don't have enough time because of my busy work to carefully review my assets and examine particular stocks. So, in order to stay ahead of the curve in the market, I have hired a fiduciary to manage my portfolio actively for the last seven years. With the help of this technique, I've been able to successfully negotiate the financial terrain and choose the right times to purchase and sell. Maybe you ought to take a similar tack.

@WillieNickell Ай бұрын

Hello Dave, How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

@DavidCovington-st2id Ай бұрын

Vivian Carol Gioia is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@WillieNickell Ай бұрын

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

@cloudyblaze7916 Ай бұрын

Should those of us with less than one million and above 50 be worried then? I have only 650k in my Roth and I don't know how to grow it and I'm worried I'm nearing retirement.

@albacus2400BC Ай бұрын

I was in this same position a couple years ago. I was always anxious. I decided to start working with a financial advisor, and I started making a lot of monthly dividends that my anxiety disappeared.

@ericmendels Ай бұрын

Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.

@mohican-jx6fx Ай бұрын

I'm actually seeking guidance for my portfolio management. Could you refer me to your advisor?

@ericmendels Ай бұрын

Sharon Lynne Hart is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

@FeelMyTruth Ай бұрын

It's become incredibly hard to retire in America. Thank you for the recommendation. I'll check her out and set up an appointment.

@annaj.osorio Ай бұрын

It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas...

@ElizabethKing-qu2ob Ай бұрын

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K

@AndersonCallaway Ай бұрын

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

@ElizabethKing-qu2ob Ай бұрын

Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.

@GarridoLuis545 Ай бұрын

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

@bryan6095 Ай бұрын

597 likes on a bot post. Crazy

@RuthEvelyn-rc3bg 20 күн бұрын

Then, should those of us over 50 with less than a million dollars worry? I worry that I'm rapidly approaching retirement with only $500k in my Roth and no idea how to grow it.

@CrystalJoy-32 20 күн бұрын

A few years ago, I found myself in a similar situation. I had anxiety all the time. My worry vanished after I made the decision to begin working with a financial counselor and began to get large monthly profits.

@Sampson-jh7yq 20 күн бұрын

Well, that's also my answer, even though I'm not retired. I've been relying on a fiduciary to handle my portfolio for the past seven years because, as a contractor, I don't have much time to research assets. I have expanded my portfolio by up to 300% and been able to navigate market volatility with greater effectiveness thanks to this method. You could think about taking a similar tack.

@alicegomez7232 20 күн бұрын

I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.

@Sampson-jh7yq 20 күн бұрын

Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.

@FrankPatrick-no8zo 20 күн бұрын

Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled

@Joegolberg1 Ай бұрын

I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

@Janipherlawsonkt8xi Ай бұрын

Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. hence I will suggest you get yourself a financial-Advisor that can provide you with entry and exit points on best stocks to buy now or put on a watchlist.

@emilydonna1 Ай бұрын

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. he's helped grow my reserve notwithstanding inflation, from $275k to $850k.

@Kevinbrian1 Ай бұрын

The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.

@Fiammanapolitani Ай бұрын

Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?

@Iburn247 Ай бұрын

Just paid my mortgage off and im 39. Feels amazing

@nathalielady2592 13 күн бұрын

Congratulations! 🎉

@andrewludwig6328 9 күн бұрын

Congrats🎉

@chrisa8203 Ай бұрын

I just passed $1m net worth 1 month after my 35th birthday. Original goal was by age 40. 🎊 🎉

@Goforth.And.Conquer Ай бұрын

Congrats! I've got the same goal of 1M by 40; hoping to beat that as well. Best of luck on the second M

@joseperez2003 Ай бұрын

I reached mine two months ago at the age of 39. Congrats 🎉

@kachrachi Ай бұрын

Wow, what's your secret? Some highlights pls. Would benefit us non Americans

@Savvynomad225 Ай бұрын

Good work. How much is liquid?

@joseperez2003 Ай бұрын

60% liquid...no secret . I was able to save money and take advantage of the real estate market in 2012...

@carloschipayala Ай бұрын

I'm 49 years old. I have been working almost consistently since I was 13. My networth is 79 dollars.

@Debbie.Burton Ай бұрын

Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!

@benitabussell5053 Ай бұрын

My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to my FA, my portolio is doing really great and im proud of the decisions i made last year.

@judynewsom1902 Ай бұрын

How? What does one do if they have a 100k$?

@EverlyndPerez Ай бұрын

I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.

@michaelhan4400 Ай бұрын

If you think networth snowballs after $100k, wait until you hit $1 million! It took me 10 years to hit a million but after less than a year im already at $1.4 million

@benitabussell5053 Ай бұрын

*Sharon Lynne Hart* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

@machinesnmetal Ай бұрын

The scam bots are strong on this channel. George, please have your team moderate as it is very disrespectful to leave these comments to the subscribers.

@Jacob-ed1bl 29 күн бұрын

It's ridiculous how many there are.

@cesarreyes809 16 күн бұрын

This is the first post that's not a scam bot. Took me a while to scroll.

@kickballjamie 3 күн бұрын

agree, thank you for pointing that out.

@VioletTorch Ай бұрын

I own a paid off home. It's not worth anywhere near $500k. It's $140k at best (low cost of living area and a small bungalow). That alone puts me at a 25% deficit according to this math. Yet, the smaller house has much lower property taxes and insurance, so my overall savings required for retirement is much lower. I'm just pointing this out because expenses are the other side of the coin to savings when it comes to retirement.

@andrewdiamond2697 Ай бұрын

I'm pretty close to this picture. I'm 59, and we are still putting 20% towards retirement and children's college, 20% towards paying down the mortgage, (20% to taxes, and 40% to monthly expenses) and I have no plans to retire early....looking to be 67 with a paid-off house and $2.5 - $3.5 million in retirement. It's a good place to be.

@Fact_Check77 Ай бұрын

I'm 44, net worth just over $1M of which 40% is my house, retirement is 30% and 30% made up of investments & assets. Had to start from scratch 9 years ago and have worked hard to catchup. My goal by age 50 (2030) is to have a net worth of $2M. Currently maxing out everything, 401K, backdoor RothIRA, HSA and ESPP.

@foxthomasfilms 9 күн бұрын

Been divorced twice. Lost everything. Turning 40 this year and starting all over. Net worth is negative at this point.

@jeromewilliams9166 Ай бұрын

We just Crossed over 1Million in our 401k!! Just a nurse and a barber. We are both 54. Two paid off cars and 11 more years on our mortgage. Net worth $800,000 . I was looking at the video because I thought WE were behind. I really wanted to know how much most people live on during retirement so that I could plan to have enough money (THE GOOSE) and live off the interest (The eggs) . I have heard $10k a month? With No debt .

@rachelcrossen8136 Ай бұрын

Do you need 10k a month to live off now?

@insure4cheap Ай бұрын

The number depends on what type of lifestyle both you and your wife would like to live after retirement. Do you want to travel more? Do you want to assist in helping your elders or children or grandkids? Do you have any causes that you want to contribute to? Do you want to move to a more upscale area? Or maybe you both may want to start a business somewhere down the line. I’m just throwing somethings out there but start having those conversations now because you both are on your way towards multi millionaire status. Way to go! 🤜🏾🤛🏾💪🏾✊🏾

@jeromewilliams9166 Ай бұрын

@@rachelcrossen8136 we have $100 k in debt now but our "living expenses" run about $6000 I really am trying to get a number in my head so that I can focus on the amount we NEED to save/invest so that we can have $10,000 to spend if we wanted to

@Faben202 Ай бұрын

How is your net worth $800k with $1M in investments? Lots of other debt? As for expenses in retirement, I’m sure the spectrum is huge with some limiting their spending to what they get in SS, and some spending tens of thousands per month. The best way to calculate is using your own expenses. With a paid off home, you can live in most places comfortably for $60k per year.

@jeromewilliams9166 Ай бұрын

@@Faben202 The way I understand "net worth" is how much we have invested liquid 1mil. minus how much debt we owe $200,000 (house and some loans) ...am I missing something? Or am I doing that part wrong?

@ifronnin Ай бұрын

You should tell Brian at The Money Guy Show that he gets an A+. He’d be proud to receive Professor Kamel’s approval.

@flboy77 Ай бұрын

This was backwards. It should have been, "You're 50 and short of where you should be... what can you do to catch up." This was a better video for a 20 year old than a 50 year old.

@CamelotRecords Ай бұрын

Exactly what I was thinking.

@atldeadhead Ай бұрын

Age 53. Wife, two kids. We’ve got a Kamel A++. A few more years to get these kids a university degree and then the wife and I are calling it a day. God willing. Live like no one else so one day you can live like no one else

@leeraymer166 Ай бұрын

Great video George. I’m 51 with a $1.4 million net worth. On baby step 6 and owe about 300K on my home on a 15 year mortgage. With extra payments we should be fully debt free in the next few years. The Ramsey baby steps helped my wife and I get to this point. We had a negative net worth through our thirties and didn’t go positive net worth until our 40’s. I max out my 401K every year and pay cash for everything. You can do this if you save diligently and stick with the baby steps.

@probuilder961 Ай бұрын

Good video. What has bothered me over the years is radio ads selling some kind of protection, touting your home as your "largest asset," which really should almost never be the case.

@Scott_Anderson Ай бұрын

Almost 50 net worth negative $108k, definitely failed. 😢 working til the day I die.

@kloz4110 Ай бұрын

You’re doing better than most probably, you’ll make it

@Bees-knees99 Ай бұрын

My husband and I were almost where you are in our late 40s and we both worked like dogs for the past 10 years - you still have time to turn this around, don’t give up!

@carolchirolas7603 Ай бұрын

Baby steps. You can do it!

@user-yb5bg8im5g Ай бұрын

go off grid. will change your entire outlook...

@JillSwords Ай бұрын

You did NOT fail. I had zero till around 58 years old. I went back to school and became a midwife. I worked like a crazy person and 10 years later I had almost 500k. Now that I'm drawing Social Security I pull out 1k a month from my investments and do great! I'm thankful I did the hard work

@MichaelToub Ай бұрын

Great Video!

@jasonbroom7147 Ай бұрын

I haven't gotten an A+ in a long time. Thanks, George! :)

@martywilliard Ай бұрын

LOL

@KurtisB Ай бұрын

Videos like these just remind me of how far behind I am.

@jillmorrison9883 Ай бұрын

Same. And I feel like shit now lol

@sillybilly9428 Ай бұрын

No time like the present to get on track! 👍

@KurtisB Ай бұрын

@@sillybilly9428 I’ve been on track, just still playing catch up lol.

@tracynorman4883 Ай бұрын

Age 59, net worth of about £36k 😢

@Darkseid300 Ай бұрын

I’m in the club also.

@sunsetkizz1 Ай бұрын

Thank You!!! ☺️ 😅

@douglasblum309 Ай бұрын

I am slightly behind, 54 and net worth is negative $15k. I flunked life.

@WoodJacob-tt4de Ай бұрын

Quite negative I can’t lie maybe due to bad decisions

@WoodJacob-tt4de Ай бұрын

I don’t fancy working for people or companies I live investments and being self established, I see works as modern day slavery.

@johnpsalm6511 Ай бұрын

Building wealth involves good habits and risks like putting money into solid investments like digital currencies,having a good financial manager is what people tend to shy away from,and it keeps hunting them in the near future after many losses, be disciplined and get certified manager, I pray that anyone reading this will be successful!!!

@WoodJacob-tt4de Ай бұрын

I do recommend Anna Dorris Arthur

@WoodJacob-tt4de Ай бұрын

The details are on the browser

@scott7521 Ай бұрын

51 and about $525,000.... ehhh. I made a LOT of mistakes. The biggest was trusting others managing my money. Do it yourself if you can.

@Qpitmaster Ай бұрын

I use the 300 rule. Take your current monthly expenses & multiply that amount by 300. The result is a rough guideline on how much money you need to save (and invest) to keep the same lifestyle you have now, during retirement.

@RomanAtwood79 Ай бұрын

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Elizabeth Wesley.

@Markchampion631 Ай бұрын

Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.

@Donnawilson736 Ай бұрын

Elizabeth Wesley strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started

@ConnorAger374 Ай бұрын

You trade with Elizabeth Wesley too? Wow that woman has been a blessing to me and my family.

@EmmettDeclan. Ай бұрын

I'm new at this, please how can I reach her?

@jeannedawson443 Ай бұрын

I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much

@dandaab2887 Ай бұрын

You’re math doesn’t add up. No one making 30K a year can afford a 200k house on a 15 year mortgage. Even with 20% down it still sucks up nearly their entire paycheck. If you want these to be realistic and relatable, drop the 15 year assumption, most people aren’t doing those.

@FighterDoc98 Ай бұрын

I did, it is doable. You'll notice one of the key pieces was that you started investing and saving with your first job, and now you are 50. The numbers would be slightly different today as the mean starting income is different. And your 'starter house' should be smaller, or rent until you can do a 15 year mortgage where the payment is less than 25% of your take home.

@LeMErin21 Ай бұрын

Your*

@amyhood6562 Ай бұрын

The video was interesting but you are correct. At one time I had a $160,000 30 year mortgage that was actually at 6% and my payments were right around $1000 a month. Obviously thats not an exact comparison but completely undoable at that salary. My first job out of college I was making low 30s my take home was around $900 every 2 weeks. I wasn’t investing and my health insurance was under $40 a month. That would mean $1375 every month to make a house payment and invest at 15% out of my monthly $1800 salary. The math is definitely not going to work. I guess I should edit to say investing and making good choices work but these made up scenarios and numbers are distracting to me because these fake numbers don’t work.

@nodsib Ай бұрын

$30k/year starting, but that was buying the house at 30, so like 8 years of working, saving and pay raises. Might have been up to $40k or higher by 30, also by 30 maybe married and two incomes of $40k = $80k, which is 100% doable

@CJ-111 Ай бұрын

I'm pretty sure that's based off two people earning and paying that in the 90s. It was more common to have shorter mortgases. It also shows a normal progression of wage rises top of that. Less realistic nowadays

@amyfeigt6715 Ай бұрын

Many of us in that age bracket had to start over from scratch & were barely getting by for some time. But it's never too late. We're about a year away from having debts paid off, then another year to save up a hefty down payment & then a plan to have that house paid off in time to retire while also rolling every penny we can into savings/investment & becoming as self-sufficient as possible. When your expenses are low, you don't need as much to live on. We have no desire to travel, etc. now, let alone when we retire, so all we'll need is just our basic necessities.

@marlenarae6830 Ай бұрын

I’m 50 and this video has made me feel very hopeless.

@jillmorrison9883 Ай бұрын

54 and same

@mimosahoney5617 Ай бұрын

🥹 same

@Goforth.And.Conquer Ай бұрын

Don't feel hopeless... The median for people at 50 is less than 250K. More than half of people age 50 have less than that.... You're not alone. And there's still time to do something. Catch up contributions to IRA's for instance...

@Trplr4life Ай бұрын

Make a plan- you still have time to retire with integrity.

@melli-yelli Ай бұрын

At 50, per social security, your full retirement age is 67, thats 17 years to do some good catching up. You’re too young to throw in the towel.

@spdog3344 Ай бұрын

32 y/o and net worth 360K. That median number is sad and it’s even more sad if you remove home equity in primary residence and look at invested assets. Hope this video inspires people!

@jpollar 16 күн бұрын

Hitting 50 this year. Proud of my younger self. Scored an A++ and will be able to retire when I'm 54.

@gma1918 9 күн бұрын

Congratulations!!

@reginaldphillips7615 9 күн бұрын

Hell yeah

@1bwm474 Ай бұрын

Always confused by these stats when I hear average net worth per person when I think it is really more important to talk about household net worth.

@Blubbha Ай бұрын

I am on +700k € with 37y and having a family of 5, age might be one parameter maybe beside family size. But good to know we are on track. Thanks!

@christophe_atx Ай бұрын

Perfect scenario described. Conveniently left out that people 50+ now probably bought a house between 2005-2007 and lost big time. Then they didn't recover for 10 years or more.

@trexasaurus5322 Ай бұрын

Womp womp

@normaelliott656 Ай бұрын

@@trexasaurus5322I

@RandomJane104 Ай бұрын

Or that their job got hit by the same recession and it took years to get another job and back to average pay. I have a B by this score and I'm miles ahead of most. Have been investing since I was 20 and have a reasonable paid off 2 bedroom condo and a reasonable paid off 2018 Mazda 3 (a year old when I bought it). Most of my clothes are thrifted. Nothing fancy. The only reason I have as good as B is because I'm frugal and I don't have kids. I think that net worth for the average single individual is not realistic. I would have had to live like a monk. Baring any more massive downturns I should at least have that net worth by 60.

@dhowto3005 Ай бұрын

Thanks!

@Alexandra11090 Ай бұрын

In my mid/late 40s. Don’t have any debt other than mortgage. But most of my worth is in my house which is a little scary to be honest. Graded well for the 40s scale. Graded ok for the 50s which I’m not there yet, but I have some work to do before I get there (and I’m getting close). So I’m working on paying off my house and putting money into my retirement. Life does get into the way as it does. I want my house to be someone I enjoy living in, so I keep paying for some improvements in my home (cash, not debt) as I’m going. Not little things, but replacing my roof, etc. Home ownership just isn’t for the weak. It’s a scary life, but we all do what we can and living without putting things on credit cards is an amazing feeling.

@lisac.6722 Ай бұрын

This is one of the best Ramsey related videos. The only missing piece is saving for college for your kids. Oh, how I wish I took that seriously as soon as the babies were born.

@TShirtAndReeboks Ай бұрын

College costs have jumped so much! I graduated 19 years ago and tuition is about 5 times more expensive than it was when I was in school!! I'm telling my kids to really consider community college for their basics so they can use their college funds to help with when they have to transfer to a more expensive school!

@probuilder961 Ай бұрын

I tell people this often. However, I've started to shy away from sheltered plans in case the kid doesn't go to college, then the $ can be used elsewhere like a home.

@savankor2656 Ай бұрын

I think I’m at an A+ scenario so I will not be selling my beanie babies

@dejue Ай бұрын

I started investing and bought a condo in 2006. I make much more than avg salary. I have the A scenario. But that is with a Huge match from my employer. I’m think 1.4 million is a little high with the Great Recession too

@damienbates Ай бұрын

Compound interest is great! Very happy I was forced to save due to the mandatory pension. Otherwise I’d be in serious trouble of a crappy retirement. I’m still renting though, kept moving so I sold the house and never bought another. Renting was affordable and really made moving for that new job easier.

@georgezm2296 Ай бұрын

Would it be wise to sell and liquidate your employer HCA stock that purchased at a 10% discount and put it in a high yield savings account currently earning 4.25%.? This stock is considered part of an emergency fund since it can be made liquid in 48hrs. TY

@ofthegirl Ай бұрын

I’m just getting started at 50 paying off debt, no savings or retirement. Working 7 days a week. So I’m a bit behind, I guess!

@MrLopez746 Ай бұрын

I’m 52 and don’t know anyone who ever had a pet rock. I think that was an early 1970s thing.

@jillmorrison9883 Ай бұрын

They are back lol. I saw some the other day

@msdishydishful Ай бұрын

I'm 52 and had one. By that time they we covered in faux fur shaped like a mouse.

@theresajohnson9497 Ай бұрын

How would you calculate this if you have a pension?

@shanep2760 Ай бұрын

Yay I'm finally above average in something!

@chocojavachip Ай бұрын

What good is your house value in your net worth calculation when you will (hopefully) live in it until you die and not ever sell it and use the money?

@MattCNormand Ай бұрын

Almost 32 with a $120,637 net worth. I didn’t really start focusing on my finances until maybe five or six years ago, so I’m a little bit behind where I feel I should be, but I know I’m much further ahead than a lot of people in my cohort. The $120k is made mostly from the $77k I have in my 401k and the approximate $40k I have in equity from my home I bought two years ago. I have a little bit of equity in my SUV and I keep some cash laying around, but because I still have an auto loan, right now I’m selling off a lot kf collectibles I’ve accumulated over the last 15 years and pumping all of my excess income into paying that off ASAP. Once I get that taken care of, my only debt will be my mortgage, so I’ll be in good shape for the future.

@sboada Күн бұрын

@GeorgeKamel How do you factor a military retirement into your retirement dollar figure?

@PsychPatric Ай бұрын

I am wondering how a 1 to 1 counselling session would be with him 😅😂 Will there be just as many jokes???

@Joegolberg1 Ай бұрын

If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.

@pete5691 Ай бұрын

If you have a low interest rate the money you pay extra to your mortgage only makes whatever that rate is. On the flip side if you instead invested that money into an account that gets even 1 percent more interest it is better to go with that.

@ThraxMan84 Ай бұрын

After watching this, I feel like I failed as an adult. I'm not quite 50, but close at 47. I am nowhere near where I should probably be right now. I can't help but feel no matter what I do at this stage in my life that it won't make a difference at retirement.

@SparkyMcGee Ай бұрын

For a married dual income couple, are these numbers for each person or the combined for the couple?

@coreynelson9727 Ай бұрын

IF you are married...the net worth would be combined.

@RC-Flight Ай бұрын

So is this a house hold net worth or each person in the homes individually net worth???

@shannonpennock7813 Ай бұрын

House hold

@RC-Flight Ай бұрын

@@shannonpennock7813 ok thanks That means my wife and I are tripple A

@KPad87 Ай бұрын

The first 25 secs sums up the whole video

@ronaldlaufer5184 Ай бұрын

No one considers where they live in this calculation. The cost of living is a big factor. My net worth would be well into the millions if I say owned my current home was in San Jose California. It's all relative to your personal situation.

@mchristian5217 Ай бұрын

We have been blessed and learned early to pay ourselves first. We averaged investing 20%+ over the years. We live a great life but well within our means. We are both within a year and a half of the 59 mark and we don’t owe anyone a dime. We’re fortunate to pay our house off in 13 years. The net worth calculator says we have a net worth of $6.5M. 😊

@July.4.1776 Ай бұрын

Not sure everyone is 100% invested in the S&P from age 20 to 50. 🤔 diversification would be some great advice.

@Robert-jd6xc 13 күн бұрын

50 with an A. Hopefully an A+ before the end of 2025. I've been blessed.

@bdk1371 Ай бұрын

I agree with the Ramsey plan. However I need to find your 10 percent investment. Vanguard from my company only gives me 7 to 8 percent.

@misspimake Ай бұрын

What would a Net Worth be for a married couple?

@missgui4400 Ай бұрын

It’s your household net worth. Married couple is considered one.

@kito1san Ай бұрын

@@missgui4400should it be double since there is now 2 person or even 1.5? He is nothing the net worth grade for 1 person.

@stephen2wheels Ай бұрын

I have an R2-D2 pez dispenser…I feel very called out, even as a 35 year old. 😂

@neolithic3 Ай бұрын

I will become a Quinqie later this year!

@Hookmeister Ай бұрын

Age 53 - I have $920,000 in my investments, two cars paid for with just under 11,000 miles each, $55,000 in checking, but where I haven’t had luck is with homes. I’ve never taken out a home equity, but most houses I’ve owned didn’t appreciate above realtor fees until the last six years. So I only have about $180,000 in home equity and it’s the only loan I have at 2.875%. I’m definitely jealous of those that have had Lady Luck in timing and location on their real estate investments.

@FriskyDingo1983 Ай бұрын

Will turn 41 next month and my wife and I are over 2 million in net worth. Still feel like were behind. The only debt we have left is the house. Wish I had started investing sooner than 30.

@janfoselli5823 Ай бұрын

Happy to say we are an A+ with $1.1 mil!

@Dami_creates Ай бұрын

I was just sitting and found myself chuckling. George Kamel is the best youtuber out there! 😂 Hilarious and educative contents.

@annmelendez1898 2 күн бұрын

Where is the information regarding the high yield savings account online.

@notreallyme425 Ай бұрын

This is for singles, wondering what it should be for couples.

@Lilione111 Ай бұрын

I’m screwed. 56yo woman, no house, working a casual almost minimum wage job, I’ll probably earn 25k this year (sometimes I work 20-25hours per week, other times I only get 8-12 hours per week), I don’t have a retirement fund because I lived overseas for most of my working life, living with family because rents are so high where I live…but living with can’t last forever. My only option for a financial plan now is the lottery. I’m joking, but I’m also very scared.

@anthonywilliams9415 Ай бұрын

Those Tickemaster fees are crazy

@user-yr7ly5vq2g Ай бұрын

I'm in the D cat...as in dumb that I didn't see this much earlier.

@melliebe6029 Ай бұрын

Is this for one person or a household? Important distinction

@JJs_playground Ай бұрын

I'm almost 50 (48) and I roughly fit the bill of this scenario. My question, can I add my company's pension plan into my net worth? Because I've read some people do add it and others say not to add it.

@Zombiebeast1995 Ай бұрын

It is not part of your net worth because it is not your money, but it can definitely count towards how much you need because you can deduct the pension from the monthly income you need. So you might only need to replace 50% of your income instead of 80% because your pension pays 30% of your income, for example.

@woodrmp1 Ай бұрын

@@Zombiebeast1995technically it is your money and there is always commuted value - the amount they would have to cut you a cheque for if you cashed out of the plan

@Zombiebeast1995 Ай бұрын

@@woodrmp1 not your money unless you take a lump sum, which is not always an option. You are just guaranteed a certain amount each month for your life, or some other options. You don’t choose how it’s invested and can’t pass down a lump sum to family

@kito1san Ай бұрын

If you watch the whole video. He has a software that adds all items of value. And yes, pension plan too.

@Zombiebeast1995 Ай бұрын

Watch the money guy show, they explain it great

@Simon-je7ko Ай бұрын

I disagree. I think it really depends on how you manage your money. If done correctly this money can last forever. Not to brag here, but if you think that you can do just 8% per year in return. Well, you are wrong. You have several factors, the money that you invest, the time invested, the risk and your age. Of course they are not going to talk about risk here. More risk, more rewards. It's really up to you.

@loritobia1056 Ай бұрын

The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?

@peterpahor8228 Ай бұрын

Think about actions you’re taking that might be harming you such as carrying over credit card debt each month.

@alpgeorge7012 Ай бұрын

@peter I agree withyou. I also think you should think about steps you can take to start. Start somewhere. Anything is better than being frozen even.

@elenab3052 Ай бұрын

In my opinion, create a budget including income and expenses, do this with a financial advisor.

@elenab3052 Ай бұрын

Plan with a pro advsor for a successful retirement.i work with an advsor and generated over 1 5 0 %

@elenab3052 Ай бұрын

In 11 mnths with guidance.

@user-yb5bg8im5g Ай бұрын

what really sux about the math--you will always owe. i am in a blue state. no debt, whatsoever, and yet in 30 years, my ins. has trippled, fees are everywhere and escalating, property taxes are are more than doubled, and the golden dome spends my money like drunken sailors on ''newcomers'' while our vets are living on the streets. leaving by the end of summer.

@thorpower1015 Ай бұрын

Yes well said

@micart79 Ай бұрын

Texas home insurance and property taxes are rising too.

@fred-ts9pb Ай бұрын

Around 30% of "our vets" are on some form of disability. Your homeless vets may be choosing to live like they do and be on some kind of disability? Our military personnel get way better benefits than most. Heck, they get 10% off at many locations which covers their sales tax. Many get their property taxes taken care of when on disability, and many draw up the $3500 a month for the supposed disability. I use to see them with signs begging for money by the VA hospital in Charleston SC. The military is the biggest welfare complex we have. The vets don't deserve anything more than anyone else. Remember most you see volunteered. Any drafted vet deserves all they can get.

@user-yb5bg8im5g Ай бұрын

@@fred-ts9pb i'm glad i don't live in your world.

@Jacob-ed1bl 29 күн бұрын

Clean up your comments section. It's absolutely ridiculous how many bots there are.

@willharris5562 Ай бұрын

Every finance KZfaqr does this video quarterly, yet I still click

@kwilliams1958 Ай бұрын

Many know more about the Pet Rock Craze than about actual financial planning. And for those that do, the cost of living has been, for the last 40 years, gone up substantially more than the rise in wages. College costs, health care premiums, insurance costs, etc., have risen at a much higher pace than wage growth. FACTS...you, George, have a lot more D and F watchers than the C-A range.

@MrScott-rb3pr Ай бұрын

How should I value a pension that will pay about $45k/year starting at age 53?

@edwardrhoads7283 Ай бұрын

If you could sell that pension to a hedge fund that would be what you would value it at.

@derekschlager5903 2 күн бұрын

net worth calculator link is incorrect, takes you to Investment calculator which is different

@keithhalteman2878 Ай бұрын

I’m 22 and by the time I’m 65 because of inflation I will need 7-8 million to live the same lifestyle as an $80,000 lifestyle now. idk how the next generation is gonna retire this is based on a 4% withdrawal rate I know Ramsey says you can do 8 percent but even if you can always count on tht 10 percent average on s&p till u pull your 8 percent your left with only 2% to combat inflation witch means your lifestyle will gradually need to decrease but if you have a 4 percent withdrawal it can actually increase over time

@Robertgriffinne Ай бұрын

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

@brianroose7734 Ай бұрын

Oh wait I have 120k in restored Mustangs!

@wulver810 6 күн бұрын

The only way I could view a vehicle as part of net worth is if you will be walking permanently or you have multiple vehicles. Same for a home, if you have one home and no backup home, your $500k home is basic now, you will have to downgrade if you sold it.

@Scott-xf5xb Ай бұрын

Got an A. Thank you Saint Jack Bogle! RIP

@leechburglights Ай бұрын

😂 0:50 We like to be called GenX

@JoeySmith101 Ай бұрын

I’m 29 and got $64,500 in net worth calc 👍

@PaulProsperInvestments Ай бұрын

A+ at 44. Hoping to double my NW by 50.

@matthewgreeley3099 Ай бұрын

I always wonder if you double these numbers if married? Its obviously a huge difference if so.

@tonym6854 Ай бұрын

For those complaining about interest rates today, I bought my first property in early 90's at 9% and had friends who bought in the 80's closer to 20% I made out very well investing in RE, 401k, IRA. And I worked my azz off