Building Wealth (Ep.2) – Delayed Gratification (தமிழ்)
Jason 0 Comments Retire Wealthy
We went through the importance of "Developing Financial Knowledge" in the last episode. If you have not watched it yet, please watch that first. Today we are going to watch the second episode in the series "Building Wealth". Delayed Gratification Gratification means – We all have our own desires right? When we attain those desires, we get this great satisfaction right? That satisfaction is what is called "Gratification" in English. "Isn't attaining our desires is a good thing? Why should we delay?" – you ask. Explaining that is the purpose of this episode. If "Financial Knowledge" is the architect of building wealth, "Savings Rate" is its foundation. Our foundation will be as strong as our savings rate. We already know this from "Financial Freedom" episode. Most of us will achieve 20% savings rate easily. But to go beyond that, we need to know some strategies. Normally what we do is, we keep upgrading our lifestyle in line with our earnings. We will be with four roommates when we start working.
In 2-3 years, our salary will double. When that happens, we upgrade ourselves from 4 room mates to 1 room mate. Then in 2-3 years, we get married. Then we upgrade ourselves to a one bedroom apartment. Then in 2 years, we upgrade to a two bedroom apartment. Then after kids, we buy our own home. So depending on our career growth, we keep upgrading our lifestyle. Then expenses add up with kids, school fees and so on. It never comes down. After 40 years, we will come to a sudden realization, that we have crossed half our life time, but all that left is just our home as asset.
We start thinking about retirement and investments only after that. But by that time, we will have other responsibilities. Saving for kids college, marriage become our priorities. Just like that, our life would just pass away. Next generation will follow the same pattern as well. How can we build wealth if we live like this? Life of a US settled person is also very similar to this. But they do one more thing after 40. They sell their current home and upgrade to a bigger home. So we are keep upgrading our life style depending on our financial growth from our career. Regardless of how much we earn, we spend to match that earnings growth.
If we want to break this cycle and move to next level, there is just only one option. That is – Delayed Gratification. That is – instead of enjoying the life upgrades immediately we can postpone it to some time, and attain financial growth. Before we check out on how we can do that, a small tidbit about "Delayed Gratification". In 1960's, Stanford University conducted a psychological experiment called "Marshmallow Experiment" with kids.
Marshmallow is something that looks like a thicker version of Cotton Candy. It is white and super sweet. Kids love it. They used 3.5 to 5.5 years old kids for this experiment. What they did was, They asked a kid to stay inside a room and they put a marshmallow on a plate in front of them. They made a deal with that kid. The deal is – I will leave the room now. But will be coming back after 15 mins. If you have not eaten the marshmallow by the time I come back, you will get two marshmallows instead of one. So – the kid has two choices. There is a marshmallow right in front of kid's eyes. Instead of waiting for another marshmallow for 15 mins, the kid can eat one right now. Or wait for 15 mins and eat two marshmallows instead of one. When we hand over a fish to a cat, is it possible for the cat not to eat the fish? 7 out of 10 kids ate the marshmallow immediately. But 3 out of 10 kids controlled their temptation and waited for the second marshmallow successfully.
Stanford University did not stop their research at that. They followed these kids for 40 years to see how they are doing in their life. The kids who waited patiently settled better in their life. They did well in their college entrance exams. They did not fall addicted to any drugs. They did not have obesity issues. They used their "Self Control" capability totally to their advantage. What we learn from here is, people who have a strong mindset and who do not get distracted easily are very disciplined and they set up a goal for themselves and attain it as well. They do not think in short term. They plan for long term and achieve it successfully.
We will see this "Long Term Planning" more in detail in another episode. Coming back to our topic – "Life Upgrade" How many upgrades do we see in our adult life? We upgrade from 4 room mates to 1. We upgrade from 1 room mate to separate apartment. From 1 BR we upgrade to 2 Bedroom. From 2 Bedroom, we upgrade to own house. Even for own house, we again upgrade to a bigger home. All these are housing upgrades. Like this, We upgrade from pubic transportation to bike. From bike to car. From car to luxury car. These are upgrades in our personal vehicle. We don't do these upgrades without a reason. We do it to match our earnings. If we do not upgrade our life styles along with our earnings growth, but delay it by 2 to 3 years – what happens then? The salary rise will go directly to our savings rather than for life upgrades and will increase our savings rate.
If the savings rate increases, the foundation of "wealth building" will be super strong. Think about it. If our whole life is 80 years, Its not really a big deal to delay our upgrades for 3-5 years. We are going to attain all these anyways. Its just that we are going to do it bit later. So, we have two choices. 1. Live in the moment by upgrading our lifestyle depending on our earnings growth. Or 1. Postpone the upgrades for a while and use that savings to build a strong nest egg so that we can even pass our wealth to next generation.
The choice is ours. Now we can see the benefits that we can get out of "Delayed Gratification" at high level. We will see how we can apply this strategically in different stages of life in next episode. Thank You..
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Gold IRA Investing Guide
Jason 0 Comments Retire Wealthy Retirement Planning
unlock the door to a golden future literally imagine a retirement where you're not just building a financial portfolio but a treasure Trove of history's most enduring and valuable asset gold with a gold Ira you're not just investing in retirement you're investing in a legacy that can withstand economic downturns inflation and uncertainties that paper assets can't promise a gold Ira elevates your retirement Planning by letting you diversify with not just stocks and bonds but actual gold coins bullion or other precious metals whether you start this unique account with pre-tax or after tax dollars you'll work with a specialized custodian or broker who's experienced in handling such precious Investments and don't worry the IRS is on board allowing self-directed IRAs to include not just gold but also Silver Platinum and Palladium in a variety of approved physical forms however it's essential to note that gold IRAs come with their own set of considerations unlike traditional IRAs these specialized accounts often involve higher fees due to the costs of securely purchasing and storing these precious metals Additionally the IRS imposes annual contribution limits so plan wisely looking for more more information with a team dedicated to finding the latest news and information for gold and precious metals IRAs the retired veteran is your dice One Source to help you with your investment Journey Don't forget to check them out you can find the link below what is a gold Ira a gold Ira or individual retirement account is a specialized retirement plan allowing you to invest in physical gold that's right you can own actual tangible pieces of gold whether it's in the form of bullion or coins as part of your retirement investment and if you're more into paper than metal don't worry a gold Ira also lets you include precious metal related securities within your portfolio understanding gold Ira most of us are familiar with individual retirement accounts or IRAs these tax advantaged accounts are designed to help us set aside funds for those golden years from the more common traditional and Roth IRAs we venture into the realm of gold IAS unlike the standard Fair a gold Ira gives you the golden chance to invest directly in precious metals like gold silver platinum and Palladium one key thing to remember is that gold Ira are distinct entities and need to be held separately from your convention IRAs but what's in a name you might hear gold IAS also referred to as precious metals IAS so how do you start one you can fund these accounts with either pre-tax dollars or if you're eyeing a Roth option with post tax money what sets them apart is the unique requirement to purchase and store actual tangible precious metals this necessitates the involvement of a custodian generally a bank or brokerage to oversee the account's intricate details while traditional IRA typically house Investments like stocks or mutual funds the IRS has given a nod to those with self-directed Ira to invest in a variety of precious metal forms from minted bars and coins to a suite of gold related paper Investments such as gold Centric exchange traded funds ETFs stocks and gold mining entities dedicated precious metals mutual funds and even precious metals commodity Futures however remember that with great Sparkle comes great responsibility and sometimes higher fees the uniqueness of gold IRAs the need to buy and store those precious metals often translates to steeper account charges so if you're intrigued by the Allure of tangible assets and a diversified retirement portfolio a gold Ira might just be your Golden Goose but always weigh The Gleam against the costs and you'll find the best path for your financial Journey setting up a gold Ira setting up a gold Ira is a unique Endeavor that requires specialized handling let's embark on this golden journey together and discover the steps to set up this unique investment first and foremost your go-to traditional broker won't be of help here why gold Ira aren't just another account they're specialty accounts so if you're setting your sites on these gleaming assets you'll need a specialty custodian or firm these professionals have the expertise to manage the unique documentation reporting and tax intricacies that come with a gold Ira but don't be mistaken while the assets Shimmer differently the rules governing gold Ira are pretty much in line with traditional IRA just like any other Ira you'll need to be mindful of annual contribution caps and distribution guidelines storage Holding a gold Ira means having actual tangible gold which can't just be tucked away in your home safe or drawer the IRS mandates that these precious metals be kept in approved facilities like certain Banks or depositories another option is trusted third-party custodians skirt these rules and it'll be treated as a withdrawal with the associated tax implications types of gold Ira curious about adding some Shimmer to your nest egg but not sure what kind of gold Ira is the right fit for you don't fret just like there are multiple types of traditional IRAs gold IRAs offer variety to fit your unique Financial profile file let's uncover the types of gold IRAs that could make your retirement shine traditional gold IRAs meet the Cornerstone of gold IRAs your traditional gold Ira when you fund this account you're doing it with pre-tax dollars the magic here lies in the tax deferred growth both your contributions and any potential earnings aren't taxed until you make withdrawals during retirement Roth gold IRAs fancy paying your taxes upfront so you can enjoy your golden Fortune without strings attached later then Roth gold IAS are for you in this version you contribute money that's already been taxed while you don't get immediate tax perks the benefit comes in retirement when you can make withdrawals tax-free sep gold Ira if you're a small business owner or a self-employed individual the SCP gold Ira is tailored for you in many ways it's similar to a traditional gold Ira as taxes on contributions are deferred until you make withdrawals during retirement the bonus sairas generally allow for heftier contributions providing an attractive Avenue for high earners to stash away more for retirement but before we wrap up today's discussion we have a special gift for you to help you make informed decisions and navigate the world of precious metals investing we've put together a comprehensive gold Ira guide and the best part it's absolutely free so make sure to pick up your free gold Ira guide in the link below this valuable resource will be a great addition to your investment Journey a gold Ira is a type of self-directed individual retirement account that allows individual to hold physical gold silver platinum and Palladium as Investments within the account it works similarly to a traditional IRA and has the same sorts of tax advantages attached to it but with the added ability to hold precious metals which is often used as a hedge against inflation and economic uncertainty it is important to note that there are specific rules and regulations related to the use of gold IRAs so it's best to consult a financial advisor before making any decisions
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Is 1 Crore Enough To Retire? How to plan your retirement?
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
Hi friends, welcome to Yadnya investment academy. We are going to talk about a topic of financial planning on Friday. And today's topic is very interesting. Because this question is asked regularly on many social media channels and workshops. That people have an amount in their mind that is 1 crore rupees. We think that if we have 1 crore rupees, our life will be good. So this question remains in the mind that if I have 1 crore rupees, can I retire now? Am I financially free? I don't have any tension of retirement now. Now whatever work I am doing is extra. So that 1 crore rupees is enough. And if you have retired now and got EPF money and total is 1 crore is it enough for you? And if it is enough or not, how much can you spend in both questions, when is enough and when is not.
We will touch on all those things in this video. I will explain everything through a calculator. You can check that calculator on our website investyadnya.in as well. We cover many topics of financial planning in this session. If you want to make your own financial plan, then go to investyadnya.in website There are many products related to financial planning. There are 1 to 1 sessions as well. You can check that out. Now I am going to my website and I am sure you can see my screen. If you go to the tool and calculator, here you can see the retirement calculator.
I don't think you will get this anywhere else. Now the question is, suppose I have 1 crore rupees, is it enough for me to retire? First of all, I will be asked what is my age? I am just giving an example, 50. Suppose I am 50 years old, what is my life expectancy? It is important to know when you will be retiring. I think we should keep it around 90. I am keeping it at 90. How much is the expense now? If you are retiring and you have 1 crore rupees, how much do you want to spend? What is your monthly or annual expense? Suppose I am thinking that I have 6 lakh rupees. I have put 6 lakh rupees here. How much inflation are you assuming? How much will my expenses increase every year? If India's inflation is around 6-7%, then you can assume that. Suppose 7% inflation till the end of life. Current asset, how much money do I have? I will put 1 crore rupees here. I have 1 crore rupees here. I will put that here. How do you invest this 1 crore rupees? How much return will you be able to earn? This is a very important question.
What type of investment do you want to put? Do you want to put it in PPF? Do you want to put it in Senior Citizen Savings Scheme? Or do you want to put it in FDs? Or do you want to create a portfolio of Mutual Funds like Hybrid Equity Funds? This is very important. Let's take all the scenarios. Suppose I want to put it in FDs. I don't want to do anything special. I will get 7% return in FDs. Whatever is the post tax. Or whatever you think.
You get 7.5% but let's keep 7% for calculation. Let's keep 7.5%. Let's keep 8%. We have put it in bonds, Senior Citizen Savings Scheme. And there is some money in EPF. So, we have kept some money in equity. So, my 8% will earn 1 crore rupees corpus. Which is 1% over inflation. I have taken 7% inflation and 8% returns. I have to put these 6 fields first. If I submit this, My retirement corpus is in deficit of 1 crore. This means that I need 1 crore more to develop this scenario. If I am 50 years old and I have 6 lakhs per month. And 7% inflation. And 8% growth. I need 2 crores. 1 crore is not enough. Now, let's change the scenario. What should I do if I am not able to do it.
I can either reduce it. I don't spend Rs 50,000 per month. I can do 30,000. Then we can change the amount. We have done 36,000. And then we have put this change. So, 21 lakhs is still less. So, basically it will come to 3 lakhs. So, now our retirement corpus is only 67,000 less. So, I can spend 3 lakhs per year. If I can spend Rs 25,000 per month. And if I take 7% inflation. And 8% growth. Then 1 crore is enough in 50. If I spend 25,000. If I spend 50,000 with same scenario. Then I will need 1 crore. Now, you will say that I invest in mutual funds. I know investing well. And I think that my corpus can earn 10%. If 7% is inflation. Then I think that my corpus can earn 10% per annum. Like our approach. You must have seen many videos on retirement. If you want to understand anything. Then put it in the comment section.
If I think that I can do 10%. So, let's try it on 6% after spending 3 lakhs. So, now our corpus will be 47 lakhs. So, it means that I can spend 4 lakhs or 4.5 lakhs. So, 4.2 or 4.3. Means I can spend around Rs 35,000 per month. If I can earn 10% return. Now, you will say that I have already retired. I am 60 years old. And now tell me what is this scenario. So, in that I can spend 50,000 per month. So, in 60 years also if you are earning 10% return. Then there is a deficit of 24 lakhs. If this scenario plays. You say that I have inflation. I don't spend much. 50,000 per month. Next year, I will grow according to 5%. Then it is good. 5% inflation, 10% rate of return, 1 crore rupees. You have enough. You have just enough. So, you can spend 50,000 per month. If you are 60 years old, you will get that money for 90 years. Now, there is one more thing. Many people think that I have a pension. I have a house. He is giving rental.
Or I am getting pension. Suppose you are getting pension of Rs 10,000 per month. Means it comes more than that. But I think 10,000 per month. So, I am getting a pension of 1,20,000. And we will make it 7 again. Is there any growth of pension? It seems that 2-3% growth is there. So, let's grow it by 3%. Till when will the pension come? Will it come till 90? Will it come till life expectancy or will it come soon? Many times, for limited time, money is going to come. So, we sell those things. Rental is going to come. I have to sell that house after 10 years. So, you can put that also. So, I have to get pension till last. Till 90. So, then in 6 lakhs, 7% inflation, 1 crore, 10% and all. So, then almost I am there. Means 3 lakhs is the only deficit left. So, in this way, you can find out that the money you have, is it enough for your retirement? So, now you can change the amount.
If you have 2 crore, 3 crore or 50 lakhs, then you can change the amount. Accordingly, you can find out how much expense I will have after retirement, my work will go smoothly till life expectancy which I have planned. So, this will be very very helpful for you. So, if you like Calculator, then do share this video with everyone. I think this will be very helpful to many people in retirement planning. And from the perspective of financial freedom also. And if you want our financial plans and personalized approach, if you want to understand how to get 10% rate of return, or what all I can do after retirement, then you can go to our website and call our customer service, sales team or relationship team. You can WhatsApp or call or email. And then we will reach out to you and we will surely try to help you on those things. That is all I have. I hope, do subscribe more. Because the topics of financial planning are not going on much. So, do subscribe and like the video if you like it. Have a great time, friends.
Jai Hind..
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Spokane Fire Chief talks with KREM 2 after announcing retirement
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
For the first time since learning that Spokane fire chief, Brian Schafer will no longer lead the department. The chief is now speaking out. I sat down with him earlier today to ask him about the decision to step away and about the timing of it all, he told me the timing all came down to his pension. And when he was able to retire, Schaer said he wanted to be a firefighter from day one after a fire destroyed his family's home back in 1971 when he was just an infant.
This is actually the article that was written about that fire. But a lot of you are wondering about the timing and if it has anything to do with the new mayor, here's what Schafer told me, why make the announcement to retire. I was going to actually I made the announcement last year to retire this year. So, um so it shouldn't really be a big surprise that the people in the organization and uh the community have been aware.
My leadership has been aware and really it uh it's been a goal of mine to retire at the, the age for our pension system. Was your decision to retire? Did that have anything to do with the new mayor in town? No, no, but the keyboard warriors out there sure seem to have a number of different stories. And, um, you know, it is, it is always, uh, probably the most important time in an organization's, uh, life. When we have these transitions, it's really important to me to make sure that this period of transition is, is done pragmatically and that we don't drop anything. Is there anything that you hope to do that you weren't able to do now? Because of the requirements of your job? You know, I, I really uh I love fly fishing and um I don't take vacations because of the job. You know, it, when you're in this public servant, um position like a fire chief, you're expected to be 24 7. And I, I took that seriously. So now I have time to do, even if it's a little bit of time, a little bit of break to spend some time fishing and spend some time uh outdoors and not have to be connected to a car, a pager, a radio, telephone, you guys, all my friends and partners in the media, but I'm, I'm looking forward not to have that uh that uh Leash Schafer's last day will be on March 31st.
And until then he says he will help with the transition process of bringing in a new chief. I did ask him if that will be an internal or external hire. He told me he just doesn't know right now..
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Help Choosing Retirement Properties
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
if you're looking for a retirement property and finding it all a bit of a struggle we can help you we offer a personal service we're online but more importantly we're also on the end of a phone we have a free advice line and it's staffed by people who can actually help we've been on the same Journey you're on hundreds if not thousands of times with our clients so call us today on 01892 33 5330 and we'll help you get the answers you need.
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Who Holds The Gold In A Gold IRA?
Jason 0 Comments Retire Wealthy Why Gold IRA
who holds the gold in a gold ira a gold ira or precious metals ira is an individual retirement account in which physical gold or other approved precious metals are held in custody for the benefit of the ira account owner it functions the same as a regular ira only instead of holding paper assets it holds physical bullion coins or bars how do you hold gold in an ira are there any limitations on how i can hold physical gold 99.5 pure gold must be produced by a company that's nationally accredited must be incomplete original packaging must include the certificate of authenticity coins must be uncirculated and damage free bars must be manufactured to the exact weight what is a gold ira custodian what is a gold ira custodian a gold ira custodian offers self-directed iras that permit its clients to hold alternative assets including physical precious metals in the custody of an irs approved non-bank trustee can you own physical gold in ira you cannot own physical gold in a regular ira although you can invest in a variety of assets with exposure to gold like the stocks of gold mining companies or gold exchange traded funds etfs how does a physical gold ira work a gold ira is a self-directed individual retirement account that invests in physical gold as well as in other precious metals a gold ira often comes with higher fees than a traditional or roth ira that invests solely in stocks bonds and mutual funds for a comparison of the best gold ira companies visit https colon slash slash www.boldera401convesting.com slash gold ira company slash click link in the description below
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How to Have the Perfect Portfolio in Investment – John Bogle’s view
Jason 0 Comments Retire Wealthy Retirement Planning
But now this brings us to the main point of our discussion with you which is to get your advice for our viewers about what you consider to be the perfect portfolio now we know there's no such thing as perfect but i suspect that TIFs will play some role in this what would you say to the typical investor now today looking forward how should we be managing our wealth well let me um i tried to cover this you'd be surprised at some of the what i've done in the asset allocation chapter of my book a little bit because i've come to conclusion there's really not a very good answer and i've concluded that regular rebalancing is not terrible but not necessary i've come to conclude that it's 60%, 40% portfolio is probably the best option rather than going from 80 20 to 20 80 in a target retirement plan uh maybe right and i may be wrong on that and i find it something very individual uh and and you know and clearly i mean everybody knows this intuitively at the beginning there are no easy answers to this so i'll come to exactly what i'm doing uh but what i was what i did i got a letter from clearly a young man who was really worried about how he should be investing and what his allocation should be and he said you know the dangerous risky world out there and he didn't mention it but of course he's right you have potential nuclear war global warming much more than just potential and racial division in the country uh right now uh threats to world trade and division of wealth all over the world but most often very heavily in the us between the haves and the have-nots all those things are worth worrying about but i said to him you don't know and i don't know what's going to happen to any of them the market doesn't know nobody knows so you just have to put them out of your mind and forget it what you want to think about is how much risk you can afford and that's very much a personal thing and it has a little bit to do with whether you're investing regularly and things like that and then i said to him if it's helpful to you i'll tell you what i'm doing now i'm 88 years old and have an unusual kind of planning my estate and i said i'm 50 bonds and 50 stocks i don't happen to rebalance around that it just seems to come out that way particularly in recent years and uh it's been higher than that and been lower than that but right now i'm very comfortable at 50 50. although i spend half my time worrying that i have too much in stocks and the other half of my time worrying that i have too little in stock and i think that's the way most investors feel they don't know what the right number is and when the market's going up they say god why don't i have more stocks when it's going down so your own worst enemy in all this yes but having some stability without automatically rebalancing i don't think you need to do that and and it's very clear you know and anybody understanding economist certainly understands this that the more the less you rebalance the more you're going to have because you're always selling the better performing asset and you don't know whether it will do in the long run but i also look at it as as very importantly uh and this is this is kind of an interesting thing i think the most important thing you need to know about the performance of the stock market in the next 30 40 50 years is what is the GDP of the united states going to do corporate profits are correlated at 96 percent s p dividends are correlated at 96 percent with with the gdp of the united states the GDP doesn't grow quite as fast but not a big difference 6.7 compared to 7.5 or something like that and then they'd be nominal and uh i think so what interests me is in peter lynch's book something about wall street uh one up on wall street or something he says there's no number that could interest him less than the gdp number is it going up or down and what that is is a statement that the short term is more important than the long term and i don't believe this the short term is more important than long term and then you even get in freakonomics those wise guys they did a nice interview with me i'm heard all of it yet but i will someday um say pay no attention to the GDP well it's everything right but it's not everything today and tomorrow right you know the gdp probably rose today about two three hundred and sixty fifths of one percent or something whatever it is uh and uh we don't pay any attention to it but it all comes down to for your you know the best portfolio is are you an investor or are you a speculator and if you're going to keep changing things you were speculating because we can't know if you're going to put commodities in there the ultimate speculation it has nothing going for it no internal rate of return no dividend yield no earnings growth no interest coupon nothing except the hope largely vain probably that you can sell to somebody else for more than you paid for it how that could be even considered goals let's say an investment uh i do not know so it's i'd like to take the mystery out of it and say that the perfect portfolio first i think for a huge proportion over 90 percent certainly of the investors should be limited to marketable securities they don't need the liquidity today but and we may have you know too much marketability and that is too much sensitivity to prices as they change day by day but you want to get out of the idea that you always have to do something and uh i have said in my books and you know something happens and the federal reserve does something and the traders all at the beginning of the day i think it's going to cause the market to go down so they sell and everybody else says it has nothing to do with anything for you and when you hear news and your broker calls up and says do something just tell them my rule is don't do something just stand there and it's it's a lot of the rules that apply to the investment are not rules that apply to ordinary life right and uh so don't do something just stand there so get a rough idea of what you want to allocate your money to now i i do i'm really entirely indexed at my 50 50.
Uh although oh my and i can't give you the proportions because i don't remember them but my bonds that are in my retirement plan are bond index funds and the bonds that are in my my uh personal account are municipal vanguard missile bond short intermediate and so i'm reasonably comfortable with that so i think i'm too conservative for the average investor so i'd say the perfect portfolio and it should be well let me just mention one other issue and try a little bit differently uh blair academy i have a scholarship fund that i'm allowed to manage and i don't i don't want to spend any time on and i don't so here is exactly what i've done on the assumption that nobody will touch it for a long time and when i'm gone i mean maybe they will maybe they won't but what i did this is probably ten years ago um we say put half of it in Wellington Fund and have it balanced index fund the idea was not all on balance index fund because there could be things that happen that a manager needs to adjust to neither of them have an international component and that's fine with me that's i believe that's the better strategy so that's and they would be together 90 of the fund and then against two contingencies um just in case i put five percent in the emerging market index and i hope you're sitting down five percent in gold really yeah in the event just a five percent hedge against some kind of catastrophe now i wouldn't call that the perfect portfolio but i i mentioned only because that's one there's distinctive meaning you cannot touch it and uh at least theoretically can't touch it it's designed to be held through all extremes and so that's going to give you with the two balanced funds uh roughly 62 percent in equities that's going to be with wellington fund more corporate bonds than the index fund has i think the index is something that we should be very very careful about because it has the one of a better expression too damn much in governments right i don't think any individual would have a a bond account 70 in governments and 30 corps right maybe it should be the reverse i think that makes more sense can i prove that no i'm sorry i can't so it's looking at the long term looking at the numbers looking at cost above all there's no there's no ideal portfolio perfect portfolio that ignores cost now you know i've seen these articles saying well for example commodities no internal rate of return silly including gold except that's the if nobody's gonna nobody's looking and we have something explosive that will help and it probably shouldn't hurt you too much this portfolio actually had done rather well in the last couple of years and it's fine in the long run and uh so you know and actually it may be doing better than my own but i don't but i look at my performance because i'm so conservative right uh i look at i look at the funds yeah but it's almost all indexed and i do have wellington fund from those days with Mr Morgan and i wouldn't give that up as a sentimental matter but but i should
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Most powerful wealth mantra | Yellow Jambhala buddha mantra 108 time | Kuber Mantra to attract money
Jason 0 Comments Retire Wealthy
Om Dzambhala Dzalentraye Svaha.
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6 Retirement Essentials (Most people only prepared 2 or 3)
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
I'm planning for retirement most people focus mostly on marshaling together enough money you know Financial Resources so that they can last the distance and then maybe at the back of their heads they have some vague plan right perhaps two or three things to fill the time with a lot of the times this is stuff like travel family well unfortunately I'm gonna say that's not quite nearly enough for Preparation we ourselves have been retired for two years and going looking back on the past two years I kind of see like six essential things that if you prep for it beforehand before your retirement starts I think this can really make such a positive difference to your retirement so that's what I wanted to bring up and discuss with you guys today number one first and foremost of course we have to talk about money most people's concern is the amount of money that they have in retirement whether it will last them till the end come comfortably and allow them to afford the Hobbies like travel good food Etc but I actually think after going through the last two years building up our financial Acumen is just as important if not more so what do I mean by Financial Acumen I mean stuff like budgeting tracking projecting investing I mean if you think about it the money in your bank account can always be squandered we all know that story I think more importantly what's going to make your retirement more fireproof is having an ability to generate more money where it came from in the first place so the second essential thing that you can prepare for so that you have a wonderful retirement it's definitely the ability to be self-directing and disciplined self-direction definitely helps so much with spending your retirement days meaningfully right after all there are no more like work schedules or like demands from colleagues or bosses to help shape your days anymore you have to be the person to take charge in retirement there's a study out there actually that shows that for happily retired folks most of them actually have about 3.6 core Pursuits that's what they say and the unheably retired folks tend to have less than 3.6 corporate suits coming in at about 1.9 call Pursuits that's what the study reflected I guess it kind of just shows in retirement you really need to fill your life to the brim and keep busy with activities you love and that is a really great formula for happiness and self-direction will help you to achieve that state as well as discipline because if you think about it like discipline directly affects the state of your finances right it affects whether you stick with your retirement planning whether you keep fit and active and you get to maintain your health in retirement even whilst you're left up to your own devices even to find your cover suits if you don't have any when you're starting or in your retirement so discipline and self-direction will be like the building blocks for enjoying your life in retirement the third essential thing you might want to work on and cultivate or happy retirement is people skills right so studies and research have reflected very consistently that the main determining factor for happiness and Longevity for most of us is actually relationships Human Relationships friendships relationship with your spouse and with your family I guess if you look at most of us you know we all have a little need of work on some social skills in some aspect I mean some of us are a bit shy paper hats or graph or maybe socially anxious working on our people skills really will help us to get along and live happily with our spouse and family members and also importantly to make new friendships at whatever age we all know that making new friends gets a lot more difficult as we get older I mean I haven't heard anyone say otherwise for me personally making new friends as I get older is the biggest challenge there's this huge feeling that nothing can replace friendships with people who have known you all your life but it is also a challenge as I have chosen to exercise through Arbitrage in our retirement and we've moved away from home so those friends aren't with us in our present I find that it takes a lot of intention I have to consciously push myself to broaden my Social Circles and make the effort to get to know people on a more intimate basis I am also very happy to be able to say that it has paid off in that for the last two years in Bali I have actually made two or three new friends that I'm happy to say are kindred spirits and not just social acquaintances so that's very nice and it's a huge Comfort to our daily life here in a foreign land away from home now before we move on a big thank you to Mumu Singapore for sponsoring this video Singapore is an online trading platform for stocks ETFs and options I've been using the MooMoo mobile trading app myself for almost a year now and I think it's awesome it's fast intuitive trading US Stocks is commission free plus they give free level to data and many more 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you can definitely work on and that will benefit your retirement tremendously it's actually courage you're definitely gonna need lots of courage in retirement and I guess this isn't a skill exactly it's kind of more of a quality but in retirement you need a lot of courage to even plunge into retirement you need the courage to you know take that leap of faith to stop putting it off due to fear of the unknown feel or financial insecurities so then it's all about courage at that stage not let fear and insecurity rule your life and your decisions it is also the courage to recognize that in life at the start at the end in the middle the Domino's you need are never all nicely lined up you know at some point you just got to jump into it and then learn to cross the obstacles as they come so for retirement long term I guess the biggest issue most commonly is always money but my perspective on this is that hey budgets can always be reduced money can always be earned or recouped or whatever happens so I still think that you know it is actually beneficial to Advocate an approach whereby you get to a point where you feel that you have most of your Ducks lined up you've planned well you've prepped for it grab hold of your courage with both hands and then take the plunge people tend to think of retirement as the end but it's not it's the start of a new phase where you should be trying so many new things new Pursuits new ways to live and for each of these new adventures you're gonna need courage to take action and once you have taken the plunge you'll find the next fifth thing very very useful and that would be a mentality of resilience especially in early retirement there are a lot more decades ahead of you you know and therefore a lot more chances that they things can go wrong whether it be down to bad financial planning or perhaps an unexpected Health catastrophe or even sometimes natural disasters whatever comes I guess you will always need that strength of Will and the resilience so that you can roll with the punches and then get back up you want to know that you have the mental strength that even if things go pear-shaped you won't just give up and lose hope and certain Corner you've got to Marshall what you've got inside you go out there find Solutions perhaps if necessary you've got to go back to work but know that later on you can return to retirement and try again so the sex essential thing that I believe will benefit everyone in retirement is to cultivate an attitude of gratitude we all know life is a very long journey hopefully at least and so much of what we Chase using most of our years actually doesn't really matter in the big picture once you have taken a step back and then at that point is when you start realizing the earlier you cultivate and attitude of gratitude and that appreciation for the simple little things that are probably around you everywhere every day the happier you probably will be and it sounds silly but it's not really automatic I mean we all live and grow up and work and go to school in a society that kind of innovates us with messages that we need to reach for more have more ambition gives us you know that High definitions of success in life that we have to try to jump to reach and nobody sings the Praises of the pleasures of a simple cup of tea you know the importance of family time with your loved ones or or just the pleasure of being able to take an evening walk on the beach with your dog so I think that it's very important that somebody reminds you that you know you can not overload what you already have what you're already surrounded by growing that muscle of appreciation so that in each and every moment you are present in your own life you see all the little Joys that you're surrounded with every day and if you live life like that I think that will help you achieve contentment with just the small stuff around you and that's what majority of your life in retirement may be about is just a small stuff every day but in my own retirement here in Bali it is what makes me so grateful and so happy every day that I am surrounded by my loving husband and very interesting and independent little dog that's very very cute you know that we have very comfortable a bit simple house we have the ability to enjoy good food even if it's simple stuff from the war rooms locally we have a garden and beautiful things are growing around us every day the weather is great you know stuff is good yeah I think this is one of the most essential simple things that's often overlooked simply because it's a matter of mentality but I believe this essential quality or characteristic could make all the difference for you so these are the six essential things that I believe are very very important for you to cultivate and prepare for in the leader to actually taking the plunge into a return then I think that if you have these six strong skills and qualities going for you you will be in a position much more well placed to make the best out of your retirement however long that period may be let me know what you think of my suggestions whether you agree or if you think they suck let me know why but in any event I really appreciate you tuning in and sharing my thoughts for this week and wherever you are in the world I'm wishing you a happy Saturday evening and let's speak again next week till then you take care and bye for now
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Why is Everyone So Tired in Retirement?
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
you know after slugging it out for over 30 years in Corporate America I was exhausted when retirement arrived I really needed a break and I needed a break too so we spent the first few months in retirement really doing nothing nothing meaningful right well hanging around kind of lazy mornings turning into lazy days into lazy weeks and maybe even lazy months but we knew something had to change or we were doomed we wanted our dreams of a fulfilling retirement to become a reality so we had to make some changes so today we're going to share with you some strategies that you can try so that you're full of energy every single day and take on anything that comes your way but before we go further we'd like to introduce ourselves my name is Mark Rollins and I'm Jody Rollins and we started retirement transform not only for us but for all of you and the other 10 000 people turning 65 every day now we don't focus on anything Financial none of the aspects financially or retirement but we focus on lifestyle Health relationships and more and listen if you're new here please hit the Subscribe button and also the notification button so you'll get notified when our videos come out so let's jump into all the things that tend to make you and me tired especially in retirement okay the first thing that gets you tired too much downtime and that might just be for instance watching too much TV and I don't know if you know this or not but the average number of hours people over the age of 65 watch TV each week is 38 hours a week that's like Couch Potato syndrome it is and you have to be careful with that because it does make you tired nothing wrong with watching a Netflix series or some TV but you can't do it six or eight hours a day yeah lack of movement will really keep your body and your mind tired you have to find ways to move your body even 20 minutes a day just getting out walk 10 minutes One Direction and 10 minutes back and you will feel very different what happens if you walk seven minutes one way and four minutes back and then you have to do 10 jumping jacks oh and then all right because you're going to be late yeah but there's a scientific study multiple scientific studies that say moving 20 minutes a day can extend your life by five years who wouldn't want that exactly exactly so the first one is too much downtime the second one is poor nutrition and we know you've heard this before but please just make believe you're hearing it for the first time poor food choices fast food sweets and too much eating out or even eating late is bad for you being mindful of what your comfort food is and how much you go to it is also something to be aware of yeah I think that you know for us we're getting a lot better with nutrition and really because we're starting to really pay attention to what our ordering tells us about sleep and how we feel but also just our body when we put certain foods in our body we really pay attention to how we feel and having wine or drinks and a late dinner at night we both know we're going to have an awful night's sleep but you didn't bite on comfort food comfort food I you know I need to stay away from comfort food fried chicken Oreo cookies chocolate chip cookies that's the stuff that my mother always made for me and it was Comfort I I need to stay away from that yeah and I know I know it's hard to in retirement to stay away from wine and drinks maybe that's me but um you just be mindful of it and to give your yourself and your body a break from it is really a good feeling yeah and all of what we just talked about leads into the third uh item to make you tired which is getting poor sleep and honestly we need to do an entire video on sleep because I just looked and we really haven't spent enough time on this and the importance of getting a good night's sleep most people need seven to eight hours of good sleep in order to feel good and have high energy absolutely and you know the eating late too much alcohol just doesn't help that you a good portion of our lives in Corporate America and you as an entrepreneur entertaining clients and living that way eating late entertaining clients some wine with dinner and we knew it wasn't sustainable so what makes us think in retirement that that would be sustainable well it's funny because our last five years of work really we were probably working harder than ever before we were entertaining harder than ever before that was our normal and when we got to retirement that normal didn't work for us it really didn't so you just have to be able and to think about making some life changes and it's not easy but it's doable so we have sleep as the third one good sleep quality sleep not just time in bed right the fourth one is really lack of routines during your career you had your routines wired I know you did you had a morning routine during your career and then you were off to work and your day was planned a lot of time your schedule was filled before you even got into the office but many people enter retirement and the last thing they want to do is have a routine I know and you know we hear that a lot but we also hear from our clients when they start with a routine even a basic routine going to bed at the same time getting up at the same time and it doesn't have to be 5 a.m like me I mean you don't get up at five minutes you've got your own routine I don't sleep I do but you have a routine once they start plugging in a routine getting up at the same time every day plugging in a little bit of uh walking for 20 minutes and exercise maybe on top of that doing some meditation with a app like headspace mindfulness that really starts to kick in their energy level and makes them feel better in their retirement phase and you know I really resisted this idea of setting a regular time to go to sleep and a time to wake up in retirement and I don't know if you remember I pushed back pretty hard on Mark started at like 10 o'clock we're gonna you know go to bed at 10 o'clock or you know he wants to be in bed at 10 o'clock which really many wanted to be asleep at 10 o'clock which meant bed 9 30.
Yeah but you also weren't going to let me go to bed alone that's just a me thing right so you so you dragged along with it I did you laid there with your eyes open for an hour in the beginning well I would read or something but but oddly enough our clock kept kind of going backwards the other thing I'd say about routines is I got a call this week from one of our 25 year olds we have two 25 year old twins Jordan that lives in New York City and she said you know something mom starting Monday getting back to my routine and I found that so interesting that the self-care part of routine and sleep and waking and all of that is being ingrained in the younger generation which is great it is great so another reason that you might be tired you could have some underlying health issues that you don't know about it's so important to go to your doctor at least once a year and have things checked out because as we age things in our body change and it could be that there's something going on that's keeping you awake at night that's making you feel tired during the day so going to see your doctors on a regular basis is so important yeah there I mean there could definitely be some issues going on that need to be addressed and you know we have friends that actually have said to us we never go to the doctor because we don't want to look for trouble and I'm just not sure that that's a great way to live through this phase of your life yeah and you know in retirement if you're not exercising and you're eating and drinking more than you used to you're going to gain weight a lot of people gain weight in retirement now all of a sudden you pick up an extra 10 15 20 pounds and it's slowly so you don't notice it but that leads to diabetes so you want to get your heart checked you want to get your body checked you want to go see your doctor I recently went to the doctor and found out that I had plaque buildup on some of my arteries that's it yeah it's a scare I suppose but it also has helped get me focused on doing the right thing eating better exercise and getting good sleep yep because that you're on could be out of balance again this goes back to checking with your doctor you know if you're not sleeping and you're gaining weight and you're having trouble going to the bathroom or you're going too much you know find out why it's just not something to sweep under the rug yeah you know if you're getting up four times a night to go to the bathroom it could be as simple as you shouldn't drink water two hours before you go to bed or it could be something else or it could be a medication that you shouldn't take in the afternoon you should take in the morning or yes the important thing we're trying to get across here is see your doctor check your meds you know I was pre-diabetic seven years ago and I changed that with diet and exercise so you can actually be proactive and make some changes as well don't have your doctor just say here's some meds talk to them more about what some of the things you can do to change your lifestyle to become healthier so we hit the doctor we hit the meds let's go to the seventh thing that we came up with you know dehydration dehydration for sure will make you tired that's a no-brainer it leads to all sorts of problems poor sleep heart rate issues blood pressure problems brain damage even death you had an episode a couple of summers ago with dehydration I did I was working in the yard I was working really hard I was sweaty and I wasn't drinking water did all that work it was a hot humid day showered we got dressed to go to dinner we walked down the street to have dinner you know I don't know 500 feet and right in the beginning of the dinner basically long story short I just went down and I fainted and I had to be taken to the hospital and that was preventable it's not hard to effects you need to drink one half your body weight in ounces of water that's a minimum I weigh 160 pounds that's 80 ounces of water a day that's seven to twelve glasses of water a day it's not that hard right right it really isn't it really is and it's so so important to do that so listen it's okay to have lazy days it's okay to splurge with food and wine you know it's okay to binge watch TV but not every day not for your optimal retirement it just isn't sustainable and there's nothing worse than feeling tired all day long and you know people that say that right they get up and they say oh tired midday they're like oh my God I'm so tired yeah don't you get tired of hearing people say how tired they are yeah and maybe some people just say it but you don't have to it doesn't have to be like that right you want to try a day or even a week implementing what we shared today and see if there's any changes that play take place see how you feel you actually might like it you might find a new normal and it becomes a habit now we hoped you like these strategies and changes that we talked about today check out our next video extend your life in retirement by avoiding these four bad habits these are definite changes you need to make so watch this video to go deeper on extending your life and being healthier
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