@WintWealthYT .. please explain the calculation of 26x and 35x in details. I mean is the figure that's coming is a FIRE number at 40 or a number which one must have at age of 60.

@@abhishekbera5157 Whenever you achieve this number, You are financially independent. The earlier you achieve, the Earlier you Retire.

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.

Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..

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

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

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Amber Kay Wright” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

You are right.!

That is why I had to start forex trading 2months ago and l now am making benefits from it.!

My first investment with Wonghuatrades gave me profit of over $80,000 Us dollar....

And I can even say she is the sincere broker I know....

O' Yes I'm a living testimony of Wonghuatrades

In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.

True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.

This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

“Angela Lynn Schilling’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

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.

Specially IT jobs 😢

Plus insecurity of jobs - these guys say you will have lots of salary but we are not sure. Not all junior people will go to VP or director

What kind of comment is this? Complete Nincompoop

You are right sir, but the thing is they'll be more pissed once they retire early in their 50s as they won't have anything to do. When one achieves financial independence, they can keep their job but at the same time be stress free, as if they don't like their job they can quit or do something else, but doing nothing once you have financial issues taken care of feels dumb.

That's not true it gives them power to choose

Can u please tell me the name of the book.

@@ARTYIDEASWITHPREETI Let’s Talk Money -Monika Halan

@@hilly_billy9531 Thanks

Try to save 50% and more from your salary and avoid taking personal loans, product loans and incase needed home loan make sure the EMI is less than 15% of your salary and that EMI should not hinder your monthly savings of 50% and more. Invest your monthly savings of 50% and more in Mutual funds, ETF's, Bonds save FD deposits and Health insurance (for atleast 75 lakhs and more). You will become fearless and be able to take the best smart decision in your life.

Excellent

No one is denying that its tough, but the problem is that people don't start at all by giving this very excuse and end up increasing their expenses. Even if one is not able to put aside 40% from the very onset, atleast starting with a small amount and keeping at it helps inculcate the habit. I myself only reached 30% I think by the time I was close to 30, having started in my early 20s with just 5000 a month. Also, regarding all the savings being used, its important to bucketize the investments so that one knows which is the bucket one can dip into in times of need or to fulfil a goal. Investing without goals in mind is never gonna help.

I completely agree with you. However we can attempt to save & create side income to get out of the middleclass trap

Try to save 50% and more from your salary and avoid taking personal loans, product loans and incase needed home loan make sure the EMI is less than 15% of your salary and that EMI should not hinder your monthly savings of 50% and more. Invest your monthly savings of 50% and more in Mutual funds, ETF's, Bonds save FD deposits and Health insurance (for atleast 75 lakhs and more). You will become fearless and be able to take the best smart decision in your life.

@akshaypai2096 Most of the people in this decade are not interested in saving money, once they get a good job or wealth opportunity. In 2024, people in their 20s and 30s try to look like millionaires, and only aspire to get high paying jobs, and think of saving money as a form of wasted youthful days (i.e. if you haven't spent all your money and enjoyed life, then you have wasted your younger life), which is wrong as people can enjoy their life even in 50's, 60's and in 70's.

depends on your expenses but most people retire with less a million in retirement assets. you can seek advise from a certified advisor

thankfully googled Karen Lynne Chess and was able to schedule a call session with her, she seems very professional with over two decades of experience

Invest at least 15 % of your total net worth in physical gold. It is the best hedge against inflation.

If you are going to retire in India and live by Indian standards YES !!!

Depends on where you retire. If you chose to retire in India or use India as your hub, you are in the top 1%. Have a personal driver, travel comfortably, get access to cheap but excellent healthcare. You can live on earnings from 20% of your savings as well as social security benefits and invest remaining in Equities in US or India. Only thing is first come and live here for three months and see whether India is your cup of tea. Do not choose a tier1 city instead select cities like Kochi, Goa, Rishikesh, Varkala etc which are provincial but has quite a laid back culture but with access to good facilities. Other countries you can look for are countries like Philippines, Thailand, Vietnam [which is another great location], SriLanka etc. Or just hop from country to country in South east Asia.

It is a foolish point. Annuities give guranteed income that you cannot lose. Annuties also give you a gurantee that no one will steal your money. Having too much cash means that people will ask for their share of inheritence or even kill you for your money. There are a lot of benefits on annuities.

@@ppen8359 I think she was more pointing to the companies that are managing your annuities and not annuities as an investment. The insurance companies, lesser said the better. Most of us know that insurance companies have no business to be in the investment business because it is not in the best interest of the investor. I can trust them on my insurance, not investment.

Eloquent matlab?😢

Indeed, it's quite a sum. I've been retired for three years now, and I'm only 46.

​@@EricaWaters-lr6zw Nice...even bots retire now😂😂😂😂

Oh ho ha ha hi hi.

Why? Here I am at 58, wondering if I should work till 65. I really don't know why I would stop working, though I have made enough money to last till my grand children's life (as long as both my kids have not more than 2 kids each)... If I stopped working, I feel I'll start rusting. Work is something that gives meaning to my existence (more than money)... Being employable is about staying relevant. if you aren't relevant - you are out. Unlike in Govt, where even irrelevant people are tolerated, private sector can't afford irrelevant people. So, keep your skill up to date - or find something else you can do. As someone who started in computer industry way back in 1980s, I have kept up with the tech trends, earned my management chops along the way, today part of C-Suite... If you are not able to put your years to good use - then indeed you will be forced to retire earlier.

Y is it difficult?

I felt the same especially for fast changing industries like Infotech. I've seen a lot of personnel being laid off for various reasons and when it comes to people in 40s & 50s, there aren't as many positions which map to one's profile and pay as much. This is where she rightly emphasized about skillset, basically one should be seen as a capable leader giving a good overall return for the higher salary.

​@@neokarma5736it's not just about skill my dear. There is nothing so exclusive that you can bring in a huge HR world like India. So it's more to do about age/package/industry/wave etc. if a layoff comes, you are one of highest paid on the floor. Count on it they will get rid of you. Your time was different coz MNC would fire US/UK/EU staff to save...bt now Indians have started feeling heat coz no more ppl left to fire onshore. I don't see a single 50 yo in my whole company. It's 500+ staff MNC ofc and same is mostly everywhere.

@@007_Sun_Tzu If by your 50s you are not having the skills to be in a executive position, where you decide the direction the company will take, then you are right - you may lose your job. If you have such skills in such critical positions - then only reason you will lose the job is because company itself collapses. Otherwise if company keeps running, you will be needed to run it.. Most people don't get to such positions , because top of the pyramid is very narrow and the skills needed to be there aren't hard skills - it is soft skills of managing large teams or markets.. If you have such skill in a steady state company, you won't lose your job till you decide to leave.

In my opinion, IRA is a valuable strategy for retirement planning, providing growth and tax advantages. While the market is promising, expert guidance is essential for portfolio management.

I learnt this when I got disabled from an accident, I had to reach out to a financial planner who devised a plan for me to live off dividends from my investments. Other than Disability Cheque, I earn enough from home and live comfortably with her help.

If I Die before you I have been maintaining a similar diary from last 30 years and now I am 69

Hey Muskan, agreed and suggestion taken. We'll definitely try to highlight more female investor journeys.

And your comment made our day (:

Risk of volatility, debt is fixed moreover