Why Most Americans Retire BROKE! (The Truth Will Shock You!)

Why Most Americans Retire BROKE! (The Truth Will Shock You!) | Anthony ONeal

Рет қаралды 21,809

8 ай бұрын

On this episode of The Table with Anthony ONeal, we dive into the realm of retirement planning! AO is breaking it down with the best strategy that simplifies retirement planning, making it accessible and actionable. No matter your age or season in life, this video is your go-to resource. Get ready to streamline your retirement journey with proven advice that's designed to make the process simpler and more effective. Your future awaits, so start planning smartly today!
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Пікірлер: 145

@joycewright5386 8 ай бұрын

My first 13 years of working was basically paycheck to paycheck until my salary started to increase. Once my salary went up I continued to live on the same budget (below my means) and now I am very happily retired and debt free.

@tshombecore9516 8 ай бұрын

Good stuff I messed up helping too many people and trying to get others to put money together to purchase property

@CliveBirse 7 ай бұрын

I would be retiring or working less in 5 years, and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $90K per year but nothing to show for it yet.

@Grace.milburn 7 ай бұрын

I recommend you seek the guidance of a broker or financial advisor.

@ThomasChai05 7 ай бұрын

It's gotten especially difficult since the pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now

@mariaguerrero08 7 ай бұрын

Hi there, This got my attention, which advisor do you use and are you making more than average returns?

@ThomasChai05 7 ай бұрын

Everyone at work including myself works with the popular lady *Camille Alicia Garcia* who made news a lot in 2020 for her works. I made so much in my first six months with her, more than I ever did when I invested on my own using KZfaq.

@JackBJacobs233 7 ай бұрын

I just checked Camille up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.

@gingerkilkus 8 ай бұрын

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.

@leojack9090 8 ай бұрын

This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

@TomD226 8 ай бұрын

Its unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $187k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

@lowcostfresh2266 8 ай бұрын

@@TomD226 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.

@TomD226 8 ай бұрын

@lowcostfresh2266 Firms can be unscrupulous as they prioritise their own commission over your profitability. On the other hand, I prefer working with individual investors like Laurel Dell Sroufe, who only take a share from your profits, not your initial capital. I must say, my experience with her has been exceptional thus far.

@fadhshf 8 ай бұрын

@@lowcostfresh2266 After locating her, I composed an email and arranged a phone conversation. I'm optimistic that she will reply, and my goal is to conclude 2023 on a financially successful note.

@King_Jones_Junk_Removal 8 ай бұрын

Most Americans live paycheck to paycheck! It’s time to change the generational curse

@VerleanHurd 8 ай бұрын

Yes, because most Americans live above their means.

@eileenwatt8283 7 ай бұрын

@@VerleanHurd they live to impress with stuff bought on loan.

@VerleanHurd 7 ай бұрын

@@eileenwatt8283 Funny thing is, they live to impress people that are also broke.🤣🤣🤣🤣

@shemireyahlilly5521 8 ай бұрын

My biggest blessing was buying a brand new builld in 2008. The housing market plumeted then. My home was $158K. It's worth over 300K now. A new home at that price is unheard of now.

@afrivox 8 ай бұрын

I envy wherever you live. In NZ, even the most remove towns, you won't have any decent house on that sort of money 😢

@bonnielizarraga2430 8 ай бұрын

Good for you !!! In my area you must have at least a million for a shack Basically Marin County it’s in the bay area Northern California it’s getting hard I feel for the kids in their 20s out here. Some of them are lucky because they will inherit some help from their parents but others will probably have to leave the area.

@iati6294 Күн бұрын

I bought my home in 2008 for 87k and it’s worth 187k now.

@eliteaone 8 ай бұрын

I am soooo happy you have your own show now! We need more content like this for our community.

@michellewhite6308 8 ай бұрын

I am about 60. I’ve invested in an 8.25% compounding interest TDA for the past 20 years. I also have a pension coming as well as social security. I live below my means. I never fell for the hokey doke on giving companies my money because of peer pressure. Unless my name was on the sneakers, the bag, the jeans, I was not paying for it😮

@beverlycurtis2255 8 ай бұрын

Q: What financial platform pays 8.25% compounding interest? Advise.

@jawwaadwilson592 8 ай бұрын

@@beverlycurtis2255 I’m wondering that also

@michellewhite6308 8 ай бұрын

@@beverlycurtis2255 TDA Tax Deferred Annuity with NYC DOE

@sarahsimpson9848 8 ай бұрын

I am 42 and have 35k and growing in my 401k and I started at 26 I had low avg paying jobs 35k-40k, but I still invested in my 401k, in 2018 I took out $6,000 from my 401k to buy my house which has now over 100K in equity. I work full time, and have a small business which has helped me with outside investments but when you said someone in their 40's (that's me) should have over 100k in their 401k/retirement I don't and I probably won't have that until I am 50, but I am working on getting higher pay, and investing more to have passive income. Thank you for this reminder I have another 20+ years to 65 hopefully I am in wealthy abundance.

@Elimoore_jk67 8 ай бұрын

*I didn't become financially independent until I was in my late 40's, and I'm still in my 40's. In addition to having purchased my second home and earning money on a monthly basis through passive income, I've also achieved three out of five goals. I just hope this inspires someone to realize that it doesn't matter if you don't have any of these things yet, you can start today no matter your age. Change your future by investing! I made a rather big decision by investing in the financial market.*

@vivianstick537 8 ай бұрын

Sure, investing is essential for maintaining your financial stability, but making any kind of legitimate investment without the correct advice of a professional can result in a significant loss as well.

@UsmanTakari 8 ай бұрын

Investing in many sources of income that are independent on government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Stocks, forex, and digital currencies are still good investments at this time.

@lisabrenda3620 8 ай бұрын

It's really not easy trading this market. I read a lot of books, tried to study, watch some tutorial videos, did a little demo before funding my account and I still lost a lot. The financial market could be very tricky

@marktillburg8362 8 ай бұрын

Trading under the guidance of an expert is the best strategy for beginners.

@JacobWines 8 ай бұрын

@@marktillburg8362That's absolutely correct

@Ifeoma999 8 ай бұрын

Great stuff! ❤️‍🔥❤️‍🔥 I don’t want to work until someone tells me that I have to be a certain “Age” to do so. Especially, being an Afro woman when my ancestors been working for FREE & we still don’t have reparations. 🤷🏽‍♀️ Have you ever calculated time of working before? Here’s my wake up call! I started working early I’m in my early 50s and been working for 40 years! 😳 I’m trying to Injoy the fruits of my labor NOW! I’m not worried about the “Age” that’s an illusion to me…My beloved Mother retired at 49 yo to Injoy her fruits of labor 🕊️🙏🏾 Why should we wait until we turn “65?” 😕I want to LIVE Stressful Free!😁

@ruchellebarrett 8 ай бұрын

I like the new intro 🎶🎵

@pelenge49 8 ай бұрын

Great wake up call convo! Thanks Anthony!

@LOLZHAHANOTFUNNY 8 ай бұрын

Anthony's givin up the game ☠️💪 Love your content man thank you for being out here for us!

@steniarh7712 8 ай бұрын

Good information. Keep moving forward!

@vivianlandrum8507 8 ай бұрын

LOVE the new into. Welcome to the table.

@blkyogi999 8 ай бұрын

I needed to hear this.. thanks Brotha

@theresabell2492 8 ай бұрын

Thank u for sharing Anthony great content.❤

@theimportantthingsthatreal9842 8 ай бұрын

Many people have not counted up the cost. They will retire when they were making good money and should not have retired. Then 6 months after they retired they are now working at Walmart.

@ashleyturner4483 8 ай бұрын

I love the info on HSA and insurance. I do feel I spend to much per check. And not a lot of insurance

@mmoye8640 8 ай бұрын

Great show, Anthony! Had my brain churning and thinking about .y own situation.

@yontine 8 ай бұрын

This is some real talk right now!! It’s very common in these subdivisions where people purchase big homes and they don’t really need it cause they don’t have that many children or it’s just two people, and I keep seeing U-Haul trucks coming in my area.

@krazysexykool44 8 ай бұрын

Those same kids will leave u in a nursing home.

@VerleanHurd 8 ай бұрын

Not if you have it set up so they can only get ex amount monthly from your estate if you're living with them.

@jawwaadwilson592 8 ай бұрын

People thinking these kids today including my own who I love will do the right thing when they are older are fooling themselves

@jawwaadwilson592 8 ай бұрын

Facts

@VerleanHurd 8 ай бұрын

@@jawwaadwilson592 Not true. You can only speak for your kids. Not all kids are like that. There are some of us who proudly take care of our parents(10 years and counting).

@purainteligencia 8 ай бұрын

Maan real talk! Just spitting facts. 🔥

@TheSdcole60 8 ай бұрын

Good stuff! I needed to hear some of this. Just had my yearly review with my Edward Jones advisor and the one thing he said that stuck with me was to "balance my short term goals/needs/desires, with my long term goals/needs/desires." Balancing can be hard. I want to live my best life now and travel the world, while also making sure I'm investing for my retirement and saving for a rainy day. Adulting is hard sometimes. LOL ☺

@ednaevans2025 5 ай бұрын

That was GREAT.....Thanks

@daikaji3833 8 ай бұрын

My mortgage is under 30% but I need to tackle out of control unsecured debt from helping family

@VerleanHurd 8 ай бұрын

Family will keep you in debt if you allow it. They'll use guilt. Who cares. Saying no will save you a lot, and give you peace.

@MrTwade2006 21 күн бұрын

Someone told me years ago, NO is a complete sentence. If they fall on hard times because of something out of their control and you feel led to help then help if it doesn’t hurt you. But if they live reckless and then need their lights paid, they would have to sit in the dark. Those type of consequences make ppl more responsible. I had a very lucrative trucking company early 2000. But my ex spent like a water faucet turned on all day. When I got out of that marriage and business I had nothing left. But I promised myself I would work hard and recover. I worked 3 jobs helping my daughters get higher education one is an attorney one a therapist. But I’m totally debt free today including our home. Anything can be done by anyone but most won’t apply themselves. After I lost everything I wouldn’t take help from anyone I pressed through and it was tough for about 5 yrs. But it can be done so if what I just described to you is the person wanting money from you, tell them no. My struggle was because of my bad decisions with the resources God gave me so when I see patterns like that in ppl my answer will always be no to them. But I will feed anyone who’s hungry even if their situation is their fault but I will say no to money. Oftentimes, suffering is what changes ppl. It sure changed me.

@jawwaadwilson592 8 ай бұрын

I’m 45 but I hate to say it but I advise my kids not to have kids. It’s their choice ofcourse but I don’t want to be the primary supporter of my grandkids

@Music-yq8qc 8 ай бұрын

Or you can get a government job and have a good secure pension for life.

@dw9054 8 ай бұрын

Depends govt doesn’t have the same pensions they used to.

@deborahcouncil6616 8 ай бұрын

Yay you got a theme song ii like it nice work team

@Karenedwards832 8 ай бұрын

I’m retiring in 5 years and this was soooo good!

@lavieestbelle6068 8 ай бұрын

I love the song.

@kimbro404 8 ай бұрын

I woke up to this thought. I need more in my retirement. Help me!!

@kimbess7498 8 ай бұрын

Dude. The gym. It’s showing. Fitness in all aspects of life ✊🏾 I’m watching my elders go through this. I just relocated to a more affordable area and am currently pursuing a second income channel. There is so much psychology around this , and I refuse to repeat this pattern.

@ladeestayceejohnson806 8 ай бұрын

Talk about it young man, talk about it. I just yelled at my TV these sentiments❤💯

@mrsgoldie14 7 ай бұрын

Invest in your 401k! I’ve only been with my job for 3 years and have 17k In my 401k already . They have a 6% match and I made sure I took advantage of that!

@abahagan5938 8 ай бұрын

One of the best episodes. Thank you Brother

@cynthia8978 8 ай бұрын

Having an HSA and IRA are the best accounts a person can have for themselves. Love the info about Costco. Sam’s club is my best friend bulk purchasing saves me 100s a month. ❤

@myypca6097 8 ай бұрын

You also need to read the limitations and exclusions of your plan. Most people don't read that and then they get caught up

@merlotahawk1203 8 ай бұрын

Anthony can I be your SPECIAL PROJECT! I neeeed help. PLEASE! I am 48 in huge financial debt. I listen to your show but I don't fit the pay grades you talk about. Low income, pay my bills mostly on time, love to live but I don't want to be a burden to my children please 😔 ❤

@sharonjones3719 8 ай бұрын

Preach!!!!❤

@goldie2488 8 ай бұрын

What you are saying is great advise and should be what everyone is doing. But I think you are also able to say that partly because you are also satisfied with your current house, situation etc. but yeah hope people listen to this advise.

@kimbro404 8 ай бұрын

Happy Monday!!

@VerleanHurd 8 ай бұрын

Happy Monday to you too.

@SMOOTH1906 8 ай бұрын

That if you’re over 40 you should have over $100K in your retirement account is so true. We gotta take investing seriously my people.

@kate3519 4 ай бұрын

Its not as simple as not being a good steward over your money: my grandfather needed full time nursing care and I’m order to afford that he had to pay full price out of pocket until ALL of his income/assets were depleted so he could then qualify for Medicaid to pay for his nursing care life. So, he worked hard and had a civil service pension and had to give it to the nursing home.

@kate3519 4 ай бұрын

As someone who is not a senior, but received Medicare for over 20 years, the majority of that 4K senior spending is probably going to healthcare costs. Medicare only is not a very good health insurance. Food costs are probably higher because are these seniors living in food deserts and purchasing higher cost items because they may not be driving as much? There is a more to these statistics that are being presented in this video.

@jz28h 8 ай бұрын

Love the Jordan comment. I’ve been so heated by conversations at work “ man I own 125 shoes and I want to ask what their 401k looks like? Do you own or rent? Do you invest? I just have to tune the masses out because it’s so ignorant .

@suferiamccollum-mobley2022 8 ай бұрын

Only buy if you or anyone can make money off the marketing item like luxury watches and jewelry.

@kaylacochran6885 4 ай бұрын

Great Show! I think we as people NEED to stop making excuses. At the end of the year I’ll have all of my student loans paid off and I’ll start investing 15% in my 401k again. 🎉

@missj5564 7 ай бұрын

Cost of living is expensive. I am trying to save more to retire comfortably.

@suferiamccollum-mobley2022 8 ай бұрын

I have three retirement vehicles for my future living. I am looking for to my late 60's.

@thresapalmer8728 8 ай бұрын

I dont think 65 year olds get $$55k to live in. I know i dont and i get a pension and social security.

@topseekrit 8 ай бұрын

You dropped some deductible and HSA gems.

@zyrianaarenee453 8 ай бұрын

Tell us how

@db5444 8 ай бұрын

Where the "show notes" with the link to the study?

@annmaried541 8 ай бұрын

But not what we need. Smart.

@CynthiaLipsey 8 ай бұрын

I need HELP! I am 50 and cannot retire. I've started over twice. I have so much fear and anxiety over this.

@kimbro404 8 ай бұрын

I am not. Help!!

@aiko3423 8 ай бұрын

I've never seen an ER bill for 2k.

@lorigovi718 8 ай бұрын

I would have been further along with my retirement accounts but the market took a big dip around December of 2022. My accounts took a dive⤵️. 🤦🏻‍♀️🙄 The good thing is I have some years left to continue contributing.

@joycewright5386 8 ай бұрын

Just keep plugging along. I planned on retiring in 2008 when I lost 50% of my life savings. I kept working and saving and got it all back. Very happily retired now for 7 years. You can do it!

@lorigovi718 8 ай бұрын

@@joycewright5386 Thank you!

@jonniekiv1688 8 ай бұрын

Not in California brotha

@DescendantsofAbraham2659 8 ай бұрын

Good morning All

@firststar2 8 ай бұрын

We hear you but how? I hear lots of financial people saying this but rarely anyone tells or show you how. I mean people are not born with this know so please educate how. Thanks

@c0cochan3l29 8 ай бұрын

It’s not a curse it’s a system designed for a certain class of people

@VerleanHurd 8 ай бұрын

Stop making excuses. It starts with us. The system dont make us over spend. The system dont make us not save. The system dont make us live above our means.

@bonnielizarraga2430 8 ай бұрын

I spent money on entertainment, that means going to the movies when kids were young , definitely did not have anything designer a lot of hand me downs worked full time but after one child was in college had to spend more for the rent of his room food etc after that worked 2 jobs at one point 3 jobs ended up with cancer twice and as a self employed person it ate up my savings out of work almost 18 months I was born and raised in the Bay Area the prices here are higher then most places in the United States did not move because my mom was getting older and died before her time with cancer I hear you about saving I am saving again now that I’m working full time again but my rent eats up 70% of my income it’s tough out there I don’t talk about my husband or ex husband he died too before his time , planning is smart that’s why I listen to you but out here thousands are living in cars and vans etc not because they are on dope. But they can’t afford an apt this is called the working poor,

@Don-hc4gk 8 ай бұрын

Good Information 💯

@suferiamccollum-mobley2022 8 ай бұрын

No one wants to budget for the future.

@kate3519 4 ай бұрын

If it was so easy to earn lots of money and there is no excuse, everyone would be doing it and there would be zero poverty. And respectfully low income earners has to choose between investing and surviving.

@suferiamccollum-mobley2022 8 ай бұрын

When it comes to saving money for a rainy day season or year, most low income family members are unable to save money. The paranoid thoughts of people not want to save money in a bank account are real. Most people would rather save money in a mattress than a bank.

@vickiewilkins1579 8 ай бұрын

Preach Anthony. I have children and never brought them name brand anything. I am now retired and loving it.

@VerleanHurd 8 ай бұрын

That's nice, however, name brands don't keep you broke. Unless, you can't afford them.

@artez8888 8 ай бұрын

Yo bro do you have a twin that lives in MD⁉️ I swear I saw you or someone who looks like you at the barbershop a few days ago lol

@mrsgoldie14 7 ай бұрын

That probably was him. He lives in Maryland.

@moneymaverickstv 8 ай бұрын

❤❤

@dw9054 8 ай бұрын

I work in this space this is correct. Thank you for bringing this convo up. Don’t forget if that study doesn’t break it down by race. It’s worse for black people.

@theimportantthingsthatreal9842 8 ай бұрын

Most of these adults are stuck on stupid . Many people will still not have enough to retire with if they start investing now because they waited too long. Their priorities are all messed up.

@malachicannon4554 7 ай бұрын

A 3 year old don't even know what Jordas is.

@Oneconservativechic 8 ай бұрын

But you not struggling at all

@rodnelplantin3649 6 ай бұрын

Ri3j😊

@hudainbholai6810 8 ай бұрын

He is mad today y’all 🤣🤣🤣. “Be Quiet!”. Y’all better listen up!

@kate3519 4 ай бұрын

I usually like his content but I am out on this one. He can’t compare his situation to people today. What year did you earn 29K, 40K? Because 40K earners today NEED more money.

@suferiamccollum-mobley2022 8 ай бұрын

No, the today's youth only want the here done for them and not doing it for themselves. "Hand-it-over-to- me." Narcissist

@theimportantthingsthatreal9842 8 ай бұрын

Most of these parents are stuck on stupid.

@roolyfe 8 ай бұрын

I am going to make more money 💰 🚂 🏦 When Lyfe Happens!

@judithgrace9850 8 ай бұрын

Move to Mexico. Take nothing with you. But suitcase. Rent a furnished studio. That includes all utilities maid Deadly to sell yourstuff

@judithgrace9850 8 ай бұрын

Life insurance. Will get you eliminated.

@jennifertaylor6864 8 ай бұрын

I understand Anthony that you are passionate about what you do, but please be mindful on how you deliver the message. With kindness. I'm sure you want to reach even more people but be mindful on how you deliver the message please. You have a very helpful podcast.