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my kees with ketchup contributions and have all those videos the goal indeed that when cda lyceum in the most active chile plausible and new of course will be wise in all-wheel des people who links together the box that redman in description below environments and 12 is the overflow have a strategy aramis aegon reconversion mortgage it's a time rather in the morning that does not need to change the renewed hypes or rather in the morning the app more options and more flexibility in the queue the building fifty percent and king johan and new loses a sixty-two that gate and in a pure Morgens payments so do think there is a lot of humor Morgens payments you may also be able to establish a tax free stream income de social media tyme come and get to the time in this video to go nobody yourself you must le morvan my book in chernaiev i only online those managers on the fences it's how a strategy cleo public gamechanger pio in your timing have you wc my book in while volumes on the books style the holistic time and prime revolution i can also just through the amazon search online be a lame arm and your of the bin this is like rats link in the description below so learn you have my god of recommendations if you about fifty five and him net thing super terms define par des video beneficial have the runs and oh please add a comment dumbell lo domino what sterile and actually for you to see in the next episode of the financial pipelines [Music] [Applause] [ Music] [Applause] [Music]Read More
foreign [Songs] so the pandemic has actually put a dent in many individuals'' s Monetary lives influencing their capability to conserve as well as stash away money for retired life as well as the truth that more Americans are living longer as well as the possibility of Financial Security as well as retirement for several is falling brief joining me today is Tony rosieri with ruggieri Financial Team right here in Scottsdale Tony just how does longevity threat play A Component here well durability we'' re all we ' re all living longer and also the longer we live the even more the more crucial it is to make certain we'' re preparation for our retirement we often prepare for a 20 30 40 year profession however are we preparing for a 20 30 40 year retirement as well as that'' s something that people usually Forget and there are different techniques that need to be used when we'' re working we ' re gathering possessions which mindset needs to transform when we obtain closer to retired life having yourself exposed to as well much risk take a look at the recent feds as well as the elevating rate of interest as well as what it'' s done to the economy we have to relocate psychologically as well as philosophically right into a time of circulation or preservation of assets as well as most individuals forget this and as they glide right into retirement they'' re most likely taking way way too much threat just how do you consider the healthcare prices in retirement planning well we live in a pay to play nation I indicate Healthcare there'' s nothing been right that'' s nothing Rose faster than healthcare it'' s among one of the most financially rewarding areas for individuals to invest which'' s translating into greater health healthcare prices we'' re going to experience more health and wellness problems as we age and those health and wellness concerns will spend even more money and healthcare in the last five years of our life than lots of people will invest in the previous 50 to 60.
so last concern does the 4 percent rule does that make good sense now modern portfolio concept is uh it'' s difficult to convert something that was established in the 50s and also 60s to just how retirement is functioning today that 4 percent guideline Pie in the Sky things needs to be rethought and also for many of the time when we take a seat with customers we let them know that the four percent regulation is probably unrealistic today that'' s Tony ruggieri with ruggieri Financial Team in Scottsdale this is retired life Information on-line international [Songs]Read More
international [Songs] so the majority of people think of life insurance coverage as something that offers a simple survivor benefit however life insurance policy has evolved right into a tool that offers things like tax-free property build-up retirement income or lasting care currently joining me is Mindy bartnicki with POG Financial in Parma Ohio Mindy so can you tell us just how permanent life insurance has changed over the previous couple of years and some of the brand-new advantages yeah naturally well when I was maturing I assumed life insurance policy was practically a fatality advantage today there'' s a lot of points that enter into you can utilize living benefits you ever before get ill cancer cells heart assault stroke you can pull money out of the survivor benefit to pay for those things um you can spend for university with that said you can utilize it to expand your profile and have a tax-free strategy also and also all that cash you can utilize while you'' re living which is extremely essential so Mindy how can you make use of long-term life insurance policy to create tax-free revenue of course so I know every person'' s possibly listened to of a Roth IRA well there'' s a whole lot of restrictions when you utilize those you have to have the ability to you you can only place so much cash right into it annually as well as the Constraint of just how much money you can make as a family or as an individual to fund those plans so what you can do is you can use life insurance plan to be able to get that tax-free method within your profile since it'' s under the life insurance policy umbrella so the policies are a little various you can place as much money into it as you desire and the other awesome thing is you can take that money out while you'' re still living and while you'' re still working which is a lot different from a Roth where there are some constraints to just how you can take the cash out also so this kind of solves the rmd issue doesn'' t it it truly is yeah so um the majority of people believe I'' m going to place money right into a 401k or a pension plan it ' s all mosting likely to be tax deferred which is true yet after that when you go in the direction of the end of your life that'' s when the federal government starts take claims you need to take that cash out as well as it'' s going to be tired so what you can do with a life insurance coverage plan is start taking little withdrawals from your plan as well as placed into a life insurance policy you can type of avoid that minimum circulation at the end of your life Dave Ramsey always says to buy term life and also invest the remainder not to do anything else that do you think my take is term plans benefit some people yet I don'' t think that it is the end-all be-all for each individual um life insurance coverage these days are a lot a lot more flexible as well as there'' s so much diversing points you can do with it that you ought to actually educate yourself on both parts too but Term Policy is excellent for a term of time you understand a 20 three decades term if you die in that time period you'' re going to get that survivor benefit however what happens if you live longer than that term after that you'' re truly spending for something that you can'' t utilize I like having an irreversible plan as a result of the reality that there'' s cash worth you can use while you'' re living there ' s living advantages you can utilize it for retired life planning you can use it for university plant preparing the cool feature of having a cashier life insurance coverage plan you can utilize it while you'' re living so allow'' s claim you ' re a 40 year old individual you obtain a life insurance policy plan as well as you intend to purchase a residence 10 or 15 years in the future you can really draw cash out of that policy to pay for those points you can'' t do that with the term plan my guess has been Mindy bartnicki with POG Financial in Parma Ohio this is retired life News online international [Songs]Read More
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international [Songs] approach in retirement preparation is the rule of 100 it merely mentions that people must hold a portion of supplies equal to 100 minus their age so for example if you'' re age 60 40 percent of the portfolio need to be equities and also 60 percent ought to be kept in traditional or otherwise repaired rate Investments like bonds treasuries and CDs Now the problem is that a lot of these Investments now are paying following to absolutely nothing to make up several financiers Equity direct exposure may be expensive for their age there are alternatives in the forms of repaired indexed annuities and also joining me to discuss this is Teresa dilatush with new course Financial in Fayetteville Arkansas Theresa allow'' s begin discuss just how a taken care of indexed annuity actually functions set indexed annuities are a whole lot like an ascending escalator you can take gains when the index markets are up however you take no losses when the index markets decrease these items are impressive in regards to buildup their fantastic buildup tools for retirement planning they likewise can generate assured life time earnings and there'' s actually no other items that can make those promises these products also join Index market gains but their insurance coverage items not investment tools so they can'' t take losses when the index markets are down Teresa just how is this method different from a variable annuity very very various a variable annuity can take losses when the marketplaces are down a fixed item can not what regarding costs with these items fixed items have extremely reduced fees for example specific Motorcyclists can be added for around a one percent price to that Motorcyclist so if someone'' s thinking about the acquisition of a set indexed annuity what questions must they be asking uh you must be asking what'' s the rating of the firm what is the cost of the Riders exactly how does that function if you were to have a major long-term treatment event um a truly excellent conversation with your consultant is the is the ideal way to prepare and also locate out about what specific annuity you'' re looking at and also just how that can work for you and also why place'' t customers listened to about these items prior to I put on'' t understand uh I want this came up more in the discussion when we discuss retired life preparation since fixed indexed annuities are just an unbelievably safe method to be a part of your retired life portfolio my hunch has actually been Teresa de la tush with brand-new training course Financial in Fayetteville Arkansas this is retirement Information online hi there [Music]Read More
In september 2021, i published a video about our fat fire strategy in the amount of 2 8 million dollars and that video is still by far the best performing video, and it was like the 15th video i’ve ever made for this channel with less than 150 subscribers, our fat fire strategy, became the core of my youtube channel here at fireside chat and that video had a complete breakdown of our fire expenses like housing, health care and discretionary like travel, entertainment and fine dining. A lot has changed since that video was published in september 2021. We’re seeing a high inflation rate, like we’ve, never seen before, unless you’re a baby boomer who experienced high inflation in the 70s, the stock market, like the s p 500. Dow and nasdaq is down 20 25 or even 30 since the beginning of 2022. I also had a significant life event and i recently got married to my beautiful wife, whom i dated for over four years, and we’re still fine tuning our fat fire strategy to make sure that we can retire early together for uh by age 45. After doing several fat fire calculations based on our income, expenses, inflation and investment, we’re going to have to change our fat fire number from 2 8 million dollars to about 3 7 million dollars, and this is the most conservative conservative fat fire number. We came up with and we would also like to live in several locations and not just stay in one place during our retirement, which will increase our baseline expenses. If you’re brand new to my channel, my name is sai and welcome. So in this video. I’m gon na go over how we’re investing to achieve fat fire of 3 7 million dollars and how we’re, prioritizing our savings and investment based on our future expenses, so we can retire early from the 95 workforce. This is a juicy video and i hope you get a lot out of it. Also don’t forget to check out my grammarly affiliate link in the description below so the first thing we had to figure out was our fat fire number. Now we have several fire strategies like lean fire, which is for people who want to live a minimalistic lifestyle coast fire, which is for people who want to coast into normal retirement and barista fire, which is for people who want to take a part time job to Pay for health care expenses, while using their nest, eggs to pay for their retirement lifestyle, be sure to check out those videos, and i will put those links in the description below but fat. Fire is the lifestyle we want where we can truly enjoy our lives by traveling, the world and living in several locations. We don’t know what those countries are just yet, but we plan to travel overseas at least once or twice a year to do some research. So the first thing we have to do was to figure out our annual expenses. Originally, we would have been happy with just 100 000 a year in passive income using the 4 withdrawal rate. So what that means is that, with a 2 5 million dollar investment portfolio, we would withdraw 4 of that portfolio every year in the amount of one hundred thousand dollars. We would also have uh three hundred thousand dollars or ten percent of our total portfolio in cash or cds on the sideline. In case we experience a bear market, like we’re, seeing now in 2022, so we wouldn’t have to sell our stocks at a loss from our investment portfolio. Our baseline expenses will increase based on inflation, but that doesn’t mean every single expense. In our household is going to dramatically increase our mortgage payments, for example, will remain the same because they would be at a 30 year fixed mortgage rate, and another possibility is that we pay off our home completely if the mortgage rate stays above six percent for the Next 10 years, which would suck, in my opinion and, however, paying six six percent interest for our primary residence, wouldn’t be worth it anymore. If the stock market performs seven percent on average annually, even if the market performs 10 annually, the margin isn’t wide enough for us to justify to keep making mortgage payments. Then let me know in the comment section down below if you have a different, take or different approach on our strategy, i would estimate our baseline expenses between housing utilities, transportation, groceries and healthcare expenses to be anywhere around 50 and 75 000 a year based on a Three percent annual inflation rate and the only wild card we have is healthcare, and i can only imagine our healthcare expenses to continue to increase over the coming years and especially if we decide to retire in the us. We’re also going to have several properties in different states or different countries, and that will increase our basic housing expenses with our fat fire number at 3, 7 million dollars, the 4 withdrawal rate will be 148 000 a year. The 3 withdrawal rate will be around 111 000 a year if we end up not spending too much money due to a bear market or other short term catalysts. After the baseline expenses, we could spend anywhere between 36 and 61 000 a year on travel and entertainment. Keep in mind that we’re going to recalculate our fire number every year, based on our future expenses and inflation, make sure to watch the entire video, and i will show you our passive income sources and the investment strategy by the way. If you need help creating your own fire strategy, you can schedule a free one on one 20 minute financial coaching session by visiting fischer com, coaching for our fat fire strategy. We’re going to prioritize our savings and investments in this order. Cash for annual expenses like taxes – and we want to have at least 10 to 15 percent of our net worth in liquid assets. So if our net worth is a million dollars, then we want to have at least one hundred thousand dollars in cash or cash equivalent assets. The second priority is our retirement accounts like tsp pensions, iras and hsas, and i will talk more about that in a little bit. The third priority is our non retirement assets like the taxable brokerage accounts for our early retirement between the ages of 45 and 60. The fourth priority is our travel fund, entertainment and our daughter’s college fund. I also have a fire checklist that we follow and you can download for free by visiting fightcech com contact. We have our emergency fund in a completely separate savings, account that we do not touch unless it’s for emergency medical expenses or anything else that’s unexpected. Our rule is that we only use it if it’s an unexpected emergency, and i strongly encourage you to check out this video i made about the emergency fund and i will link that video in the description below just keep in mind that the differences between A rainy day fund and an emergency fund is that in a rainy day fund you need to cash right away for a blown tire, and an emergency fund is to cover your living expenses. While you’re looking for a new source of income and since we’re debt free and we have a fully funded emergency fund, we maxed out our tsp iras and hsas between my wife and i we contribute up to 50 000 a year, including our Employer matches and she has the nevada state pension fund, which is a lot different than the traditional retirement accounts like 401k or tsp. She contributes 15 of her income and her employer makes a 100 match to her personal contribution, and i can contribute up to 20 500 and another eight hundred dollars from my employer match to be exact. We contribute a total of forty, nine thousand six hundred and thirty one dollars, and we expect the contribution limits to increase over the years. We also prioritize our roth iras and since we exceed our roth ira income limits, we have to do what’s called a backdoor roth ira, and i will link that video in the description below we each contribute six thousand dollars to our traditional iras as non Deductible contributions and then we convert the six thousand dollars to our roth iras. That’s a total of twelve thousand dollars between the two of us and just keep in mind that the rules for roth iras are different like contributions, conversions and earnings. And i strongly encourage you to watch the video about the five year conversion ladder, so you have a better understanding of the roth ira conversion rules. We don’t plan to touch our roth iras until we’re in our 60s or 70s, because we want our roth ira race to grow tax free as much as possible and as long as possible. We expect to have about four million dollars total in our roth ira race. By the time we turn 60 Hsa is another investment account that we own through our employers, and i understand that not everyone is eligible to contribute to the hsa, especially if you have tricare hsa stands for health savings account and it’s completely different from the Healthcare fsa, which stands for flexible savings account and the hsa comes with triple tax advantages, so we can contribute to it in pre tax dollars, which lowers our taxable income. We can invest what we put in the hsa into an index fund like the s p, 500 index fund and the interest and earnings will grow tax free. We can also withdraw from our hsa tax free as long as as we use it for medical expenses and we keep every receipt from medical, dental and vision expenses we paid in cash, so we can get reimbursed for those expenses during our early retirement. When we turn 65, we can withdraw from our hsa for non medical expenses and only pay federal income taxes for the withdrawals. Since we file our taxes jointly, we contribute up to 7 300 a year for our family hsa. If we don’t make any withdrawals during our early retirement, we should have about two hundred and fifty thousand dollars by the time we turn 50 years old by age 65. We should have 1 2 million dollars in our hsa, with a 10 average annual rate of return between tsp state pension funds, uh roth iras and hsas. We’re contributing a total of 68 931 dollars just for the year 2022 and we’re expecting the contribution limits to increase, at least for the next few years, due to high inflation hsa’s contribution limits for 2023 is already increased from seventy. Three hundred dollars to seventy seven hundred dollars. I expect the contribution limits for iras to increase from six thousand dollars to possibly seven thousand dollars and 401k or tsp from 20 500 to possibly 21 500. We also contribute to our non retirement. Investment accounts, like the taxable brokerage accounts. We have one brokerage account that only invests in aggressive and high growth stocks. We have another brokerage account that only invests in income based stocks that pay quarterly dividends to their shareholders. We’re hoping to consistently invest 50 000. A year into these taxable brokerage accounts so that by the time we retire early in 2032, we would have at least one million dollars in our dividend: stock portfolio and another million dollars in our growth stock portfolio. If we maintain a four percent annual dividend yield in one of those accounts, we should make forty thousand dollars a year just in dividend income and keep in mind that the tax rate for dividends is also different from the federal income tax. We expect to have minimal earned income, and that puts us in that zero percent capital gains tax category based on my calculation, and if we make less than eighty four thousand dollars a year in earned income, our dividend tax rate should remain zero percent. As long as congress, doesn’t mess up mess up our tax rates, our goal is to minimize our taxes as much as possible during our early retirement. So now let’s go back to my fire checklist for a minute and we’re already saving over 60 of our income towards our retirement and non retirement accounts and whatever we have remaining usually goes to our travel and entertainment fund. And we call that our sinking funds – we’re, currently saving anywhere between 10 and 15 000 a year into our travel fund, and if we decide to travel more or our income continues to increase, then we’ll bump it up to our uh, maybe 20, To 30 000 a year, we’re also contributing to our daughter,’s. 529. It it’s projected to cover a significant amount of expenses for college tuitions. We’re not too worried about her college tuition because i already transferred my post 911 gi bill over to her and several years ago, and even if my daughter ends up not using the 529 college fund, i can change the beneficiary to my future grandkids or Even to myself, if i want to by the way you can get our free fire resources, including these spreadsheets, by visiting fischer com contact, you can also check out the fight such as shop, and i have all of my stuff on my bookshelf. At firesidechat com shopping. Now let’s talk about our income sources during our early retirement, if 2022 taught us anything and that is to diversify our income sources, so we don’t have all of our money in the stock market with 3 7 million dollars our net worth should Be anywhere between six and nine million dollars, one of our main sources of income is our dividend, and i’m gon na be very conservative here and say we’ll make anywhere between 40 and 50 000 a year in dividend income just from our taxable Brokerage account at the same time, we’re going to convert what we have in our traditional retirement accounts to our roth iras and that will trigger a taxable event right. However, since our earned income is zero because we will be retired, every 50 000 we convert from our traditional retirement accounts will be taxed at 12, as opposed to 32 percent based on our current income. So for every conversion we make from a traditional to a roth account there’s a five year waiting period before uh before we can withdraw that conversion, completely tax free from our roth ira. So what we’ll need to do is have extra cash to cover expenses during the first five years of conversion to keep our taxes at the lowest rate possible. So when we convert fifty thousand dollars in the year 2032, we will have to wait until january. First, 1st 2037 to make the 50 000 withdrawal completely tax, free and penalty free. We just need to make sure that we have enough cash or other income sources to cover between 2032 and 2037. This is a common fire strategy that early retirees use. So i strongly encourage you to check out this video about the 5 year conversion ladder. We prioritize our retirement accounts over our non retirement accounts because our retirement accounts, like the tsp pension fund, iras and hsas, are like a full back plan. If we decide not to retire early and we want to grow our tax advantage, retirement accounts as much as possible, so we can retire comfortably when we turn 60 years old, completely. Tax free and our primary focus is building our stock market and real estate portfolios. To make sure the money can last during our early retirement between the ages of 45 and 60, consistency and patience are the keys to our financial success. We’ll always invest up to the maximum contribution limits to our tsp ira and hsa and will save at least half of our income to both retirement and non retirement accounts. Whenever we experience a bear market like in 2022, we’re excited to invest in these stocks with a discount and it’s like going to a black friday sale at best buy and what’s different about this bear market is that we’re Dealing with high inflation as well, we increased our fire number because the prices we’re seeing now should be the prices we see five years from now, and i think a lot of these expenses are already priced in and we’re not going to see Much of a decline in the future, but instead there will be a slowdown in the inflation rate in 2023 and possibly into 2024. This is why budgeting is so important for everyone who is pursuing financial independence and retiring early from the 9 to 5 workforce, and if you want to know more about how to invest for your future, be sure to check out these two videos so that’s It i appreciate you watching my video don’t forget to subscribe and i hope to see you in the next video have a good one Music. YouRead More
When the Social Security Act was passed in
1935, retirement officially began at 65. And the life expectancy at the time was 58. So from the very outset, “retirement”
wasn’t exactly considered a universal experience. But over the last century as life expectancies
have climbed, the concept of retirement has become synonymous with the final chapter in
a person’s life. Then, the book “Your Money or Your Life”
came out in the 90’s and introduced a radical concept The author, Vicki Robin, proposed that by
living with extreme frugality for a few years, younger people could essentially become “retired”
long before old age. She claimed to have achieved financial independence…
in her 20’s! Today, the phenomenon of financial independence
at a young age goes by the acronym “FIRE”. It stands for “Financial Independence; Retire
Early”. And it’s no fringe movement – FIRE has been
covered by the New York Times, Market Watch, and Forbes.
And it’s got more and more millenials wondering
“could I quit my day-job too?” This isn’t about dropping out of society
or living in a cave… necessarily. FIRE practitioners work extremely hard while
living far below their means for years to amass enough savings to leave the workforce. And it doesn’t mean you’ll spend your
newfound freedom just hanging out in bowling alleys like Jeff Lebowski. Many people who manage to retire early continue
to work–but only on projects they’re passionate about. But the question remains… is it possible
to achieve through savings alone? Peter Adeney, aka “Mr. Money Mustache”,
might be considered the modern FIRE movement’s founding father. Adeney was working as a software engineer
while living dramatically below his means during his 20’s. He took his savings and paid off debt and
invested it it in stock-index funds. By 2005 and in his early-30’s, Adeney and
his wife had amassed around $600,000 and a paid-for home. He calculated he had enough to leave the work-force-permanently.
Adeney suggests that Early-Retirement is possible
through three fundamental concepts: Frugality, Investing, and the “4% Rule” of withdrawals. Let’s face it – unless you luck into a large
windfall of cash, you’ll have to save up a serious nest egg to retire. And the simplest way to do that is to slash
your lifestyle. Normally, financial advisors suggest a 10-15%
savings rate to retire at a normal age of 65 or so. Want to retire ahead of schedule? Then you’ll have to level that up. Most early-retirees adopt a 50% to 75% savings
rate… or more! It’s not uncommon for them to cut restaurants
& bars, buy cheap cars, bike to work, make do with a smaller house, and avoid luxuries
like gyms, fancy vacations, and expensive hobbies. Simply stashing cash into a bank account is
a good start. But the FIRE proponents rely on the power
of the markets to boost their savings rates. Assuming you saved your money into a general
stock-market index fund, you might expect 7-10% rate of return, based on historical
Any experienced investor will tell you that
year-to-year returns will swing wildly, maybe even crash! So that’s where the third rule comes in… A 1998 study by Trinity University concluded
that a 4% annual withdrawal rate of your money in retirement should allow you to never out-live
your money – even in a bad economy. This means that even with the dramatic ups
and downs of the stock and bond market, as long as your yearly expenses stay below 4%
of your total savings, you should be able to live off them for… well, theoretically,
forever. Put another way: you take your annual spending
needs, then multiply it by 25. That’s the amount you need to become financially
independent. By now I imagine you’re wondering what it
would take if YOU wanted to to retire early. I think it’s time to… RUN THE NUMBERS! Let’s imagine you have a household income
of $85,000, but you live way below your means and only need $35,000/yr to be happy.
According to our rule of 4%, you’ll need
$875,000 in the bank in order to be financially independent. Through extreme thrift and aggressive cost-cutting,
you’re able to save $50,000/yr, which comes to 59% of your annual income. At that rate of savings, and assuming your
stock-index funds got an average return of 7%, you’ll have hit your goal in… 12 years. A good income, frugal living, and compound
interest are a powerful wealth-building combination. You might be wondering “What if I don’t
make a ton of money? Is this realistic?” A common critique of the Early Retirement
movement is that Adeney and other leaders of the movement had high-paying jobs in medicine
or engineering. Making big bucks can certainly speed up the
process. But it’s not a requirement. Take Jillian Johnsrud. She began working towards financial independence
at age 19. Her husband served in the armed forces and
she worked in customer service and sales. Over the next 13 years they made an average
household income of $60,000, with no year over six-figures. And by 32 Jillian had saved enough to be completely
financially independent. All while raising adopted & biological children
and climbing out of $52,000 of debt. She uses her freed-up time to travel the country,
write, and raise her children.
Today she does some work as a writer and coach,
but it’s on her terms. If you think that “early retirement” is
all about lounging around and avoiding work, you’ve missed the point. Instead, it’s about taking an active step
to replace a job you hate with work you love… and often finances are the biggest hurdle. As Adeney says about the FIRE phenomenon:
“Early retirement means quitting any job you wouldn’t do for free – but then
continuing right ahead with work in something that works for you, even when you don’t
need the money.” And if you’ve already got a fulfilling job
you love– congratulations, you already have the benefits of early retirement without having
to save up for it! So whether or not you want to sprint toward
early retirement, the mindset of reducing your lifestyle, living simpler, and building
a more rewarding work-life is something we should all be aiming for. And that’s our Two Cents! If you were to retire today, what would you do with your newfound freedom? Tell us about it in the comments.
Hello, this is Dr. Chris from Pensionfriend. What is Pensionfriend? Pensionfriend is a retirement solution,
so we find for you the best investment vehicle and the best investment options. Why did we start Pensionfriend? We had a lot of customers that
we helped to buy their homes ask us: "what's next?" "How much should I say for my pension?" "How does it work in Germany, we find it very complex" and indeed it's mind boggling complex. So what did we do? We more or less took the system apart.
We built models to understand every
element, taxation wise, investment wise. How does Pensionfriend work for you? First, you can use your system to
find out how much your public pension will be and how much you need. Secondly, we will advise you on
what is the best option for you, depending on, for example, your
employment state or your age. Usually it's a private pension plan. Thirdly, we found and offer you
the low-cost private pension plan. In Germany, you find many plans
that are highly costly with big hidden cost, not ours.
Fourth, you need to make
investment decisions. And we offer you three ETF portfolios
that have the highest chance for a good pension And these portfolios I build on my experience as the head
of the public advisory arm of the World Bank, where we advise clients
with over 2 trillion in assets. Why choose Pensionfriend? low cost, the best investment choices, the best investment vehicle? It is important to prepare for the future. Our life expectancy
these days is very high. Don't hesitate. Take action. Come and talk to us. You'll find a lot of
material on our website. Good luck with your planning. This is Dr. Chris from Pensionfriend..
Are you feeling overwhelmed with the career decision and not knowing what to do next? Have you been asking friends and family, what should I do? Where should I go? And not being satisfied with the answers that they’re giving you? Have you been feeling that something’s missing? That there’s a piece of the puzzle that’s missing of why you can’t decide on where to go in your career path. I’ve been there before, 10 years of university, college and after that, not knowing what to do with all my education, with all the experience that I had, extra curricular, everything even doing well, I always felt like, what’s missing? There’s a bit of information that I’m missing here. Why can’t I figure this out? Am I not smart enough? Do I not have the guidance? Do I not have the resources? And so I’ve been there, I’ve been overwhelmed and just not knowing how to make this really important decision or not knowing what was important to me. And so, one thing, the thing that I’m sharing with you here is one thing that really helped me to move that needle, was to set aside time for thinking, time to ask the most key, the most powerful questions that got me there.
One common grievance that I hear is the notion that I’m stuck at a crossroads and I don’t know what to do. I don’t know which direction to go. I don’t know where to focus my efforts. It is completely understandable because there is a big decision to be made and it is an important decision, and for some, maybe for you, it is a scary decision. It’s a scary decision and an important decision with varied and unpredictable outcomes. So you may be feeling a little bit overwhelmed or paralyzed in asking the question, “what should I do next?” without clarity of the root of the problem. But the thing is, wisdom comes not from getting the right answers, but you were conditioned to do that since grade school, where you’re conditioned to find out the right answers.
You’re conditioned to believe that if you don’t have the answers, then where do you go from here? If you don’t have the answers, that it’s hard to figure out what the next step is. You’re conditioned to believe that through school, through parenting, through media, that you got to find the right answers. But wisdom really comes from asking the right questions. Put in the comments below. What are your go-to questions that you ask yourself regularly when considering your career path or the next step of your career path. Start by asking what are the upsides to this particular career choice? And usually you’re the expert at this one because it’s always easy to figure out the desirability of a certain action. It’s easy to know “what are the benefits for you?” What are things that you’ll find pleasurable and enjoyable going down that career path? So start with that question.
What are the upsides to that career path? Then from that question, transition to the next question of “what could go wrong” if I choose this career path. This question is usually one that you might struggle with because it’s not natural for us to think this way. It’s easy for us to think what benefits me from going down this career path. But what could go wrong? You might need a little bit of assistance.
You’re probably conditioned to be irrationally emotional or optimistic about the career path you’re choosing. This question requires a little bit of assistance because you weren’t conditioned to answer questions of that nature of what could go wrong. So seek assistance in answering this particular question and that could be simply getting feedback from someone you trust about it. Come up with answers and try and going on it on your own first. “What could go wrong in this career path,” try coming up with the answers on your own first and then get feedback from someone you trust, someone who has gone down that career path or a similar career path and ask them if this is reasonable.
If you are being overly optimistic or overly emotional about the answers to these questions and be open to that feedback. And from that last question, then transition to the next one. Ask yourself, “can I live with the downsides of this career path?” This is the most important question you could ask when choosing which path to go down. And that’s because this particular question gives you insight into the root problem and expands the number of possible solutions that are out there for you.
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