Tim Tremblay of Tremblay Financial Services Discusses Interest Rates
Jason 0 Comments Career after Retirement Retirement Planning
[Music] higher interest rates may be bad for financing a home but there is a silver lining the most challenging part of investing and retirement planning has always been balancing asset growth with asset protection to protect assets we typically need to lower Market risk and to achieve growth we need to increase risk now with higher interest rates we can actually do both there are solutions positioned in ways we haven't seen before joining me to talk about this is my guest Tim trembl with tremble Financial Services in Santa Barbara California uh Tim let's start out with these strategies how do these things work well you know it's it's interesting I had a client come in and talk to me about this investment that's in the market but there's no risk on the downside and I said you know that doesn't sound right you better bring that in so I can take a look at it so he brought in a fixed indexed annuity with Life USA and as I looked at it I thought this is a great idea they're using call options to get Market driven returns with no risk on the downside and that was almost 26 years ago and since that day we've been using fixed indexed annuities as the foundation for our asset allocation for our clients at Tremblay financial and it's real simple how it works it's with a call option there are two types of options puts in calls the option Market is a huge Market you have options on stocks on Futures on indices and what the financial services companies the insurance companies are doing they're just looking at a call option on the market and so with this investment it can only go sideways or up never down and what I like to do when I show my clients how this works is is look at the worst 10-year period that we've seen in the market since the Great Depression we call it the L decade and that would be 2000 to 2010 if you got into the S&P 500 Blue Chip stocks at the at the beginning of that decade in 2000 we were at a record high the dots had just brought us up there and then over the next 3 years we saw the Melt down to the Dooms we saw 911 Afghanistan Iraq if you had $100,000 in Blue Chip stocks at that time three years later you'd have 51,000 and then over the next four years we saw the market go up very nicely fueled by collateralized mortgage obligations which had a risk that we really weren't aware of at that time and we saw the market go back to a record high just a little higher than where we were in 2000 and of course the Great Recession took place at that time we saw if you had a $100,000 in Blue Chip stocks in 2008 a year later you lost 60% of your portfolio small caps NASDAQ other indices and and positions were even more dramatic and then it came back but at the end of that 10-year period from 2000 to 2010 in Blue Chip stocks you would have been down down 20% now with fixed indexed we are very grateful to have that as a foundation for our clients those first three years as we saw a 50% decline you didn't lose a dime and then you don't have to make up losses with a fixed index and as the market moved up over the next four years our call options took us to a 40% profit 2008 then of course when the Great Recession hit you saw the markets decline dramatically we stayed at that 40% profit through the rest of that decade so as you look at all the other asset classes during the worst 10 years that we've seen since the Great Depression the fixed indexed annuity was the best performing asset that we had and we can use the word safe with it and you know Scott I think that's what I like to show folks if you show folks how the markets have done when when things are going great just about anything is going to look good but how does your investment look when you're going through one of the most difficult times that we've had since the Great Depression so is this a good time to consider maybe refinancing an existing annuity you know it it absolutely is Scott when we look at at where these fixed index annuities have gone over the past 25 years there's been dramatic changes those early life USA policies in order to get the profits that you had with those Investments you had to annuitize over 10 years that's no longer the case the liquidity was 5% per a 5-year period and you had to hold it for 10 so you didn't have the liquidity today we have fiveyear 7year 10year in fixed index annuities and you don't have to annuitize they contracts they're they're much better we have a whole wide range of indices that we can choose from from your participation with higher interest rates will be better today than what we've seen in the past so to answer your question today is the best time that we've seen in the past 25 years to be looking at fixed indexed annuities and and if you're out of surrender with an old annuity it might be a variable annuity and you've heard a lot of bad press on variable annuities uh they have management fees from the insurance company the underlying mutual funds have management fees you have risk a principle with the variable annuities so that isn't for all people and you have to understand there's a risk the fixed annuities based on interest rates we haven't seen a decent interest rate in 15 years and we've just seen short-term rates come up long-term rates we have this inverted yield curve are still not looking good for us so the fixed indexed annuity continues to be in our opinion one of the best or the best place for your safe money in your asset allocation and it's important to look at what you have now in the annuity Arena and seeing if we can improve that and put you in a much better position and for someone considering the purchase of a fixed index annuity what question should they be asking well it's important that you understand that it's a long-term investment most of them are longer term uh the shorter term ones won't give us quite the return that you will see with the longer term fixed index you have to understand the liquidity that you have with those fix fixed indexed annuities and then it's important to look at how can you get your return what kind of index is going to be available to you as an investor and and the company that you're working with is so important it's not just the return but the service that you receive from these insurance companies is so important so there's a number of different aspects that are very important for investors to look at as they begin their Journey with a fixed index or continue it in a better way uh and it's something we take a lot of pride in at tremble Financial we're going to help our clients not only have the asset allocation to get them where they want to be in in retirement but when you look at each of the individual Investments That We're choosing for that asset allocation we're going to find the very best one for you that's Tim tremble in Santa Barbara California thanks for watching retirement News [Music] online
Read MoreWhy Some Retirees Succeed and Others Live in Worry – 5 Retirement Truths
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
I want to share one of the most valuable pieces of retirement advice that I've ever heard if you're thinking about your retirement and you're wondering if you're doing the right thing or think that you should be doing something different or if you're just worried about all the things going on right now whether it's the economy or the markets or the value of your accounts be sure to watch this video because I'm going to share the retirement truths that every retiree goes through and it's these things right here we're going to cover today and every retiree goes through it and it they experience this in retirement so it's going to go over this and then also what to expect in retirement and then how to give yourself the best chances of maintaining your lifestyle in retirement as well now the negative of these retirement truths that we're going to look at is that many of them lead to increased uncertainty or worry about your retirement one of our goals though as we're thinking about it is really the opposite of uncertainty or worry in retirement it really should be more about confidence right the next years really all the way up until you pass away wait these are the the magic ears these could be the best years of your life and I know that because there's an actual study a research study uh proving this so let me pull that up really quick and show you the results and I'll link to it below people were asked to score their life satisfaction from zero to ten where 10 is the best possible life and then zero is the worst possible life and this is really just the average score by age and I thought it was encouraging to see that life satisfaction tends to increase as you can see as we get older and then it tends to Trail off as we get older but really the area the the period of time we want to focus on is that this is the magic time and we know this to be true as well because we've helped hundreds of pre-retirees move into retirement with confidence and excitement and these were the people who were coming to us that were feeling somewhat unsure or not 100 confident with their money plan and our firm streamline Financial has been around for 24 years and we've made it through quite a few bad Market periods with our clients and by the way if I haven't met you yet I'm Dave zoller and I own streamline Financial with Tim and Luke and Sean and if you're working with an advisor now that's mainly focused on investments and investment planning but doesn't talk about these key retirement strategies like the tax efficient withdrawal planning and income planning or just tax reduction overall feel free to reach out to us through the website now we don't always have time but I'll get back to you either way so let's get into this first truth in retirement it will be common to have that thought of maybe I should be be making a change or should I be doing something different it'll be normal to feel this way in retirement especially when you see the news or you're listening to friends talk about their finances there's this feeling or this thought of really making us doubt our current plan which causes some people to make more emotional decisions instead of making smart financial decisions and a good way to avoid this is really to avoid this feeling is by having an understanding of your plan which really leads to more confidence with what you're doing and having a plan for both the good times and also the bad Mark of times so that you know that you're prepared for either one of those and I'll give you some ways to achieve this coming up in this video now on to the second thing that comes up in retirement that we just have to be prepared for is we need to expect bear markets right you've most likely lived through a lot of them already and really in retirement though they feel a little bit different usually worse but because of the frequency creating a plan with bear markets in mind and really big Corrections built into the plan is a smart thing to do that way you don't have to worry when they eventually come now if you're not sure how to model out these various what-if scenarios or bad Market scenarios for your plan then you may want to talk to a cfp or check out my favorite retirement income planner below this video you should see a link to it it's one of the best consumer facing planners that I've seen and it doesn't cost thousands of dollars like the ones that we use for our clients the next thing to bring up is for pre-retirees who are close to stopping their wage especially if that's during bad markets they may think should I work a little bit longer maybe just one more year to kind of make it through this this difficult period we actually had a client call us up about five months ago and uh no she was five months into retirement and she said something like it seems like so much bad news is out there and what's going on with the markets I'm wondering if I it would have been better if I should have just kept working so we reviewed her plan and because we built in to her plan this expectation of bad markets everything looked great and and really the only reason to keep working would be if she really enjoyed this sort of work that she was doing and it brought her some some purpose but she didn't so it was great it was great confirmation that she was still on the right track so if this sounds like you take a look at another video I recorded I'm gonna either link on this screen or it'll be below and it gives a few real examples of what working an extra year might look like in a financial plan the next thing to know is that no one really knows what's going to happen next it seems like everybody has a prediction on TV or YouTube or at the dinner table with family or with friends and no one really knows what is definitely going to happen we know this uh in a logical way because you know there's that saying if you put 10 economists in the room together and they come up they need to come up with a conclusion they'll come up with 12 of different answers when they walk out knowing that it's important to prepare your investment plan for that four economic Seasons that we may go through in the future since we don't know which one we're going to go through next so just as as an example you've seen it before the four economic seasons are higher than expected economic growth or lower than expected economic growth and then higher than expected inflation or lower than expected inflation and there's asset classes that can do well in each one of those now again we don't know which way we're headed but having asset classes and each one of those potential Seasons that could be beneficial now that's just my opinion and really it's for all of this talk to your own Financial professionals before doing anything like this now on to the next one which really has more to do with human psychology than investment strategy and then after that I'll share the the really the most helpful piece of advice that I've heard related to retirement planning but if you'd like this so far please click on the the like button and and maybe this video can help somebody else going through the same things that that you're looking forward to so the next truth is in retirement we may have a tendency to compare ourselves to others the grass is always greener on the other side of the fence really throughout life that's we've got that tendency to compare it to others but it can harm us in retirement too if we do a video on this channel that mentions a dollar amount as an example we don't want that to really make you feel better or feel worse about your current situation because you know we help high net worth families at streamline Financial we sometimes mention big numbers but we don't want it to be about the numbers we really want to communicate just the principles and the strategies that can can really be applied to to anybody's finances and there's always going to be people with more than us and then there's always going to be people with less than us and the one who wins is the one who's content and at peace most at peace with their current situation you know that saying if I want to be able to practice being content with a little and I want to be able to practice being content with a lot and and you know healthy competition that's okay but comparing ourselves to someone else because uh you know if it causes us a feel of lack or less than that can hurt our retirement plans because that leads really back to that first point that we talked about in uh in this list of feeling like we should be doing something different for example if we see a guy on the internet and he's investing a certain way or he's deciding he's changing up his entire strategy um because of what's happening with the economy then that may cause us to feel like we should be doing something different and then start to increase the emotional level of uh of our decision making instead of staying to strictly logical or financial levels but again it's a normal feeling to feel that worry or fear or anxiety um with what's happening during during current periods but one of the most helpful pieces of advice that I've heard that we can apply to retirement planning is really the difference between those two words fear and anxiety knowing the difference between those two is actually very very helpful as we're planning retirement and talking about money that is if we want to feel better about what we're doing right now when we think about fear and anxiety we might think of them as being the same thing but actually they're completely different things and let me just pull up these two definitions if I can really quickly fear is a caution over a real and present danger and then anxiety is a worry over an imagined future danger now fear if we've got something right in front of us then it's obviously a very helpful tool for us as humans anxiety though is not always a helpful tool as as we're trying to process things partly because these anxieties there's nothing we can do to control or influence them you may have seen this drawing from Carl Richards before about things that matter and then things I can control here's a place to focus and then another way to look at it is we actually sent this to clients not too long ago on a video of what you can't control and what you can control so we can't control the markets and inflation and what they're doing with interest rates or what's happening in the news or the world or tax laws or the elections but a lot of these things actually do relate to things that we can control for instance you know markets are inflation or interest rates your portfolio allocation you can control that you can control when to pay taxes when it's related to in investing you know as we're talking about Roth conversions or the the costs the tax cost tax drag on some of the portfolio and not to get too nerdy about these things but two of the biggest things that we've seen is this idea of not controlling the news but what we can control is news consumption we've seen a big shift with uh some people who instead of someone who wants to consume the news they switch from TV news to reading news where you have a little bit more control of what's coming at you versus TV is just the next thing is coming at you if you know what I mean I don't know if that's if I if I'm explaining that the right way but back to the this video all the things that we mentioned before earlier here um a lot of these can be anxiety-inducing things as well right the severity of a bear Market or not being able to predict what's going to happen next in the world or comparing ourselves and doubting our plan or thinking that we don't have as much as as we wish we had when it comes to to money or the you know what if this happens and what if this happens how is that going to impact my plan and that can lead that sort of thinking can lead to paralysis and really no action being taken but what if you had a plan that was built in to show those different what-if scenarios so instead of the unknown future danger you're able to get more concrete scenarios in the plan as a result that's what I would recommend once you get get it out in the open then it becomes a lot less scary we both know that so either find a great certified financial planner who can show you that and show you the what-if scenarios or check out the the DIY planner or a different planner that helps you put in those what-if scenarios as well so it becomes less scary so don't forget anxiety is it can be the thief of Dreams it takes you away from enjoying the the present moment and it stops you from even taking the right action to make things better in the future because it really just makes you only focused on on the negative as you're you're moving through life that video that I mentioned earlier is called why delaying retirement might not be a good idea if you're pre-retirement and you're thinking you want to work a little bit longer because of what's going on take a look at that one coming up next or below and then I'll see you in the next video take care foreign [Music]
Read MoreLPL Financial: A Wealth of Options
Jason 0 Comments Retire Wealthy
Your business is as unique as you are. That's why we design customized solutions for advisors and enterprises and offer a range of business models that meet your specific needs, discover a wealth of options at LPL.
Read MoreHow To Retire At 30 Living Off Investments
Jason 0 Comments Retire Wealthy Retirement Planning
in order to live off of
your investments completely. And I know that the title of this video may sound crazy about retiring by 30, and there are a lot of people
out there selling a pipe dream of you can retire by 30
as long as you invest in this course, or go buy real estate and while that may work for some people I'm not here to sell you guys a course or to pitch you on any
kind of product like that. What we're going to
simply talk about here is how much money you need to have invested in order to live off of your investments and essentially not have
to work to earn your money. And believe it or not, there's
actually countless people out there who have in fact
retired as early as 30 years old, by following this exact strategy
that I'm going to outline. So if this idea of retiring early and not having to work for your money is something that interests you. What I want to ask you
guys to do is go ahead and drop a like on this
video just show your support.
I really do appreciate
that as it helps out with the algorithm and allows this video to get shared with more people. But what we're going to look
at in particular in this video is something called the 4% rule, and that essentially
shows you just how much money you need to have set aside, in order to live
off of your investments. Now you can in fact live off of different types of investments like real estate or the stock market for
example or a business that's providing income for you. But what we're going to use in this video as an example is a passive
stock market investment, and we'll show you exactly
how much money you need to have invested in order
to live off of that income. So the goal here with this
strategy is to simply invest your money and have a large
amount of money invested and then you would
essentially be living off of the interest income or
the growth of that money without touching the principle.
And as I'm sure you guys can imagine if you're not touching the principle or your initial investment, then your money could
foreseeably last forever. Now, the sooner you're able to retire is all based on how much
money you're able to save up and how little money you are
spending each and every month, and there's actually a
whole movement of people that are following this
exact strategy, and it's something out there called FIRE, and FIRE stands for financial
independence retire early. And there's a lot of
people who are doing blogs and videos and all kinds of
stuff about this concept, and there are countless
examples out there, of people who have retired
as early as 30 or even less. By following these strategies. Alright guys so there's
basically three steps you have to follow in order to do this, and as I'm sure you can imagine, step number one is to be frugal or to spend as little money as possible, because ultimately what
you're looking to do is save and invest enough
money that the interest or the dividends, or
whatever the growth is pays for your monthly living expenses.
And as I'm sure you guys can guess if your monthly expenses
are $6,000 versus $3,000, you're going to need a
lot more money invested to cover those expenses. So being frugal and saving
as much money as possible is actually going to serve
two different purposes here. Well, number one, the
less that you're living on the more of your paycheck
you're able to save up, and the more of your paycheck
you're able to save up, the more you're able to
contribute to that freedom fund, which will eventually be paying for all of your living expenses. And then second of all by spending as little money as possible
every single month, you actually don't need
to save up as much money to potentially live off of the interest or the growth of your money.
And we're going to go over
those exact numbers right now. Alright guys so step number two
that you have to follow here is going to be a tough one, but that is going to be saving 50 to 70% of your take home income and again, if you're looking to
retire by 30 years old, let's say you want to work from 20 to 30, and then not work for
the rest of your life, you're going to have to take
some drastic actions here.
And that is why you need to live off of a microscopic amount of money. And that's why step number
one is so important, by cutting down as much as possible on those monthly expenses. So people who are trying to do this, you're not going to see
them driving brand new cars, you're not going to see
them going on vacations, they're probably going to be,
you know, eating canned beans and doing campfires in the
backyard as summer entertainment. Not that there's anything wrong with that, but they are literally spending
as little money as possible, because they're focusing
on the long term picture of what they are trying to do. So people who are following
this FIRE movement are often aiming to save 30
times their annual expenses, and that will allow them to
withdraw about 4% per year without basically touching that principle and that is where that
4% rule comes into play.
And that is basically where you're able to draw from an account about 4% per year, and over a long period of
time based on the growth of that account and those investments, it shouldn't be chipping
away at the principle which should in theory
give you unlimited money. So what you're aiming
to do here is to lower your monthly expenses as much as possible.
Figure out what it costs
you to live per year, multiply that by 30, and then
save up that amount of money by saving 50 to 70% of your
paycheck every single week or month, or however often
you are getting paid. Alright so now the question
you guys have been waiting for, just how much money do
you need to have saved up and invested to live off of that money following the 4% rule. Well if your annual expenses
are $20,000 per year, they would recommend having 30 times that amount of money saved and
invested, so $600,000. If your annual expenses were $35,000, that number becomes 1.05 million. If you're somebody
spending $50,000 per year on your living expenses
you would need to have $1.5 million saved and invested,
and for the final figure here, if you spent $100,000 per
year on cars and housing and food and all of that,
you would need to have about $3 million to successfully
follow this strategy.
So I'm sure this goes without saying guys, the best way to follow the strategy and to reach that retirement as quickly as possible is going to be
to keep your monthly expenses as low as possible. And just to put it in
perspective for you guys, every additional $100
that you spend per month, if you follow this is
an additional $36,000 you need to have set
aside in that freedom fund to support that $100 of monthly spending. So if you're serious
about this and you want to retire at 30, or even younger, you are spending literally as little money as humanly possible. Alright so the final step
to following this strategy is going to be passively
investing in the stock market. So most people following this strategy are actually following
the Warren Buffett style of passively investing in index funds. And if you're not familiar,
index funds are basically a way for you to have diversified
exposure to the stock market. Where you're not essentially
picking what stocks are going to outperform,
you're just passively owning the entire market.
So people following this strategy are not out there trying
to beat the market, they are not stock
traders or stock pickers they simply passively invest
in these low fee index funds, one of the most popular ones being VOO or the vanguard 500 fund. And essentially what you are doing, is buying a small piece of the 500 largest publicly traded companies out there, and all the different
dividends those companies pay are all collectively put together, and then you earn a quarterly
dividend from that ETF.
And over the last hundred
years or so the stock market, on average, has returned
about eight to 10% per year. So if you were only drawing
4% from that account, based on historical data, you should never be
touching that principle over a long period of time. And that is how you would
be able to live off of 30 times your annual income, if you save that money and invest it. Now that being said that
is the perfect segue into the sponsor for this
video which is Webull. So if you guys are
interested in getting started with investing in the stock market, this is a totally commission
free broker out there, meaning you're not paying
any fees to please trades with them and you can
purchase the Vanguard 500 ETF that we're talking about in this video right on that Webull platform, and not only that, they're
willing to give you up to two completely free stocks just for opening up an account with them. Number one, if you open the account, you're going to get a free
stock worth up to $250, and then when you fund the account, you'll get an additional
stock worth up to 1000.
So if you do the math there, that is two completely free stocks worth up to $1,250. Now I am affiliated with Webull, so I do earn a commission in the process if you use my link, but
if you guys are interested in grabbing two completely free stocks that is going to be down
in the description below. So finally, the last
thing I want to do here is to put all of this together, and go through a real
example of how you could in fact follow this strategy and even retire by 30.
Now again, this is going to
require some very drastic saving because essentially you're trying to work for about 10 years of your life and then not have to work
for the rest of your life. So most people will never
be able to accomplish this, because of the amount of
sacrifice that is required, with that being said, let's go ahead and run
through the numbers now. So let's say you're earning
a salary of $75,000 per year from your job, and ideally,
you don't have any, you know school loans,
student loans, medical bills, or anything like that. So you haven't gotten
sucked into the consumerism and you don't have like a brand new car so your expenses are as low as possible.
And I know this sounds like
you know theoretical situation, but this was actually
about the same situation I was in, when I graduated
college I was 20 years old, now I was making about $68,000, so a little bit less, but I had no debts, I had no car payment,
and so I was somebody who could have potentially
followed this strategy. So after you pay your
taxes, your take home pay is going to be around $56,250. Now we know already in
order to pull this off, you need to save 50 to
70% of that take home pay in order to actually build up enough money to live off of that income. So we're going to assume
you are saving 70% of that take home pay. So you would need to live off of 30% of that post tax income, which
amounts to just over $16,000, or around $1400 per month.
Now, is that possible? It absolutely is. Is it easy? Absolutely not, you're certainly not going to be going out to the
bar and buying beers or going out to dinner,
you're probably going to be living in a tiny apartment driving an old car and eating at home for breakfast, lunch, and dinner. But if that type of
sacrifice is worth it to you for the long term picture, it is something you may
be willing to do yourself. So each year you would
be saving and investing a staggering amount of money, which is 70% of your take home pay
or just over a $39,000. And that is how you would
be able to pull this off, and assuming you kept that
cost of living the same at around $16,000, just over 16,000. your freedom number, or 30
times your annual expenses, would be just over $506,000. So, how long would it take
you to save up that money? Let's go ahead and answer that now.
Well if you took that
$39,375 per year of money that you are saving and
invested in the stock market, earning 8% return, and
as we said, historically, it's an eight to 10% so we're going to go on the conservative side, well in 10 years at 8%
return career you would have $570,408.40, meaning you could then, if you kept those living
expenses the same, following that 4% rule, not have to work for your
money past that point.
And just to circle back
guys what this really comes down to is the level
of sacrifice involved. Are you really willing to live
off of about $1400 per month, or do you want to have vacations and going out to get dinner
and things like that? So it's not people who are doing this that are out there traveling and dining it's people that are living
as frugal as possible and finding enjoyment
in other areas of life other than just, you know,
spending money on dining and things like that. Now, is this a strategy I
would personally follow? Probably not because I
am one of those people that enjoys traveling, I enjoy dining, and I do spend a little bit
more than the average person, so my freedom number would be
multiple millions of dollars, but instead I follow the
strategy of earning as much as possible and saving a
lot of that earned money, and then eventually allowing
that to supplement my income by having that interest
or the growth of my money paying for a lot of
those things that I want.
And believe it or not,
guys, there are honestly countless people out
there that have followed this exact strategy and
retired at 30 or less. One of the most well known people being Mr. Money Mustache, he has a whole blog where he documented this whole journey of becoming financially
independent and retiring early with both him and his wife. So I'm going to link up his blog down in the description below
as well as a couple of other stories about
people who have followed this exact strategy and
retired at 30 or less. So that's going to wrap
up this video guys, thanks so much for watching. If you're new to this channel, make sure you subscribe and
hit that bell for notifications so you don't miss future videos, and I hope to see you in the next one..
Gold IRA rollover – Satori Traders
Jason 0 Comments Retire Wealthy Why Gold IRA
a gold ira rollover can protect your retirement savings from today's rising inflation americans are being assured that inflation is transitory but prices keep going up from 1963 to 1980 silver prices increased by 2700 percent and the price of gold increased by 1600 percent savvy individuals are recognizing that today's inflation could significantly reduce the value of their retirement savings they are concerned that inflation will make their desired retirement unaffordable so what's the solution how can americans protect and secure their retirement savings from the ravages of inflation the taxpayer relief act of 1997 provides one answer to that question this law allows investors to hold physical precious metals inside their ira accounts money in existing retirement savings accounts can be moved into physical precious metals using a gold ira rollover in fact all of these account types are eligible for a rollover or transfer keep these important ira facts in mind investors may have more than one ira open opening a gold ira does not affect existing retirement accounts investors are allowed to move funds from one tax advantaged account to another without penalty and only one rollover or transfer per year is permitted when funds are transferred from an existing ira to a precious metals ira the transaction must be completed within 60 days to avoid tax consequences there's a simple four-step process for opening a precious metals ira one open a self-directed ira account with an irs approved trustee two fund the account three choose a custodian to hold the physical precious metals and four pick which medals to hold in the account the account can be funded with either a rollover or a transfer there are two options for funding a new account in a rollover funds are wired from the current account trustee to the trustee for the new account in a transfer funds are first distributed to the investor and the investor then deposits all or some of the distribution into the gold ira account these tax rules apply to precious metals iras only irs approved metals can be held that means silver gold platinum and palladium distributions can be taken in cash or physical metal distributions are treated as ordinary income at the investor's tax rate and precious metals held inside an ira are not subject to the 28 tax rate for collectibles to protect and preserve your retirement savings with a gold ira rollover click the link below
Read MoreWhat Do You Do With Yourself After Retirement? – Dr. Devi Shetty with Sadhguru
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
Devi Shetty: Sadhguru, I am constantly torn between my senior colleagues, who are extremely skilled surgeons. Sadhguru, the… on the heart there are some procedures, which are done by very few people on this planet. I’ll give an example – I do an operation called pulmonary endarterectomy that’s the blood clots from the leg goes to the lung arteries and it clogs up all the arteries. So twenty… twenty-five years ago there was no cure for this. And once you are diagnosed, you are destined to die within a year. Today people who are on home oxygen for two years, three years you do the operation they can go back to skydiving or they can go to scuba diving. That’s the transformative effect but there are only fifty surgeons less than fifty surgeons in this world who can operate. And like this we have some of my colleagues who are extremely gifted surgeons. They are in their fifties now. And some of them are constantly talking about retirement.
Especially one surgeon he is a extremely gifted surgeon who can fix any damaged valve. He is single, he has no other commitments every other day he talks about going to Banaras or somewhere and retire and I keep telling him that God didn’t create him to retire and meditate. He has to be fixing all these problems So he gives me extension every six months Guruji. So at the end of six months the usual rigmarole starts, he talks about retirement and everybody is depressed in the hospital. So how do you deal with this kind of people? Sadhguru: You must you must give him a one year sabbatical with me Yes, because the need or the idea of retirement enters anybody’s mind because of the monotony of what they’re doing, whatever it may be.
Somebody else may think it's a great thing but in your experience somewhere it's becoming monotonous or stagnant. Stagnation is one thing that human intelligence and human system cannot take. And most of the ailments are because of stagnation stagnation of life. They may be… they may be getting their you know once in three years promotion. They may be making little more money. All these things may be happening but somewhere experientially there’s a stagnation, which could be a major cause for many of the complex ailments that people manufacture within their systems.
The more complex they get you try to create more talented surgeons. I am saying we are manufacturing the problems, we are trying to manufacture a solution. I think as we offer solutions people who have adl… already gotten into problems, they need solutions. But it's very important that we teach people how not to create these problems, so that instead of fifty, you have to produce five thousand expert surgeons to attend to all these people who are on self-help to illness. So I would say a surgeon who is who has a certain competence and who has worked through his life, if he wants to explore something of his own nature, that will be the greatest thing to do because he is not a man without commitment nor competence.
When competence and commitment is there, you should not run him through the rig ram role (rigmarole?) and destroy that possibility. It’s important that he explores something of his own nature, which will make him We don't know what he’ll come up with. You cannot even estimate what he may come up with. I think a sabbatical is good. He may come up with something that you have not thought possible. Devi Shetty: I will… I will convey your message Sadhguru. I am sure he is watching this program.
Read MoreWealth Transfer Prophecy Part 2. (The Wealth of the Wicked will be Given to the Righteous)
Jason 0 Comments Retire Wealthy
The Wealth of the Wicked will
be Given to the Righteous Wealth Transfer Prophecy, Part 2. This is the second part of the wealth transfer
prophecy, as we mentioned in the first video, God will use certain cryptocurrencies as
instruments to transfer wealth to his people. The first currencies that will be used in this phase
are Luna Classic, Shiba Inu, and Bitcoin. LUNC will rise first, and then SHIB, during the process
BTC will fall and rise a couple of times as well. This will allow God's people to place limit
orders, to buy BTC when the price falls to almost $1 per Bitcoin. LUNC, SHIB, and BTC will
be the first ones to provide opportunities, due to the rises and falls these coins
will have. The prices to sell the coins in the sell limit orders, are the prophetic
prices made known by God through His prophets, as well as by His people who received visions
and dreams, granted by the outpouring of His Holy Spirit.
Once the first phase is
finished, and after receiving profits, the prophecies point to buy the XRP and XLM
coins, which will definitely be one of the best investments to make, this is because
in the future XRP will be backed by gold, and XLM by silver. We should also point out, that
the prophetic word emphasizes the need to invest in real estate, agricultural land, goods,
properties, houses, buildings, facilities, etc, because in the future there will come
a time known as crypto winter, a period in which the entire global financial system,
including cryptocurrencies, will be down. In other words, prices will fall to the
ground, whose values will be too low, to be able to buy the necessary food,
which will be extremely expensive. Once the crypto winter time is over, God will
cause a large group of cryptocurrencies to rise in price greatly, and they will reach a very high
value in the future. This is why God reveals to his children that when the cryptocurrencies
fall in value, whose prices will be very low during the crypto winter time, then, it will be
the right time to buy certain cryptocurrencies, whose values will be multiplied greatly in
the future.
At the moment, we do not know yet, how many weeks, or months the coming future crypto
winter period will last. For this reason, it is essential to acquire agricultural fields and real
estate, one to produce food, and the other as a means to preserve profits. We remind you that all
the links you will need to learn, key information, prophetic prices, details, etc, will be in
the description of the video. God bless you..
Your Tell-All Guide to Saving for Retirement
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
I'm Britt, the co-founder of Dow Janes, and
every single week I have someone asked me how they can start saving for retirement
or how much they need or if it's too late to start saving. Today, I'm going to share my
top tips for starting to save for retirement. And don't worry; it's easier than you think.
If you want more ideas for saving, investing, and making the most of your money,
don't forget to hit the subscribe button and the bell so you don't miss any new
videos. And if you liked this video, definitely give it a thumbs up.
All right. So, there are some misconceptions about retirement saving that I want to address.
First, one thing people often ask us is how much do I need for retirement? What's the magic number?
And the truth is it varies widely.
It depends on where you want to live or what lifestyle you
want to have or when you want to retire. Are you trying to retire at 40 or at 70?0.
If you take anything away from today, I want you to just start saving 20% of your pre-tax
income for your retirement, and you'll be fine. To learn more though, keep listening.
Okay. So how do you start saving for retirement? What you do is you follow the roadmap
steps. You make sure you're doing things in the right order. So we have a whole nother video
on the roadmap steps, but just to recap, the first thing you want to do is make sure
you're spending less than you make each month.
The second thing is to pay off any
high-interest rate debt you have, which is anything with an interest rate over 7%, then
you want to build up an emergency fund.
And then once you have those three things in place,
you're ready to start saving for retirement. So, to do that, you're going to find your monthly
savings number. You can use a simple retirement calculator to figure out how much you want to have
in retirement. I'll link to one in the description below. What you'll do is you'll add in your
current savings, anything you've already saved for retirement already, anything you expect to get
from social security, and then you'll adjust the savings amount to see exactly how much you need
to save each month to be on track, to meet your retirement goals. It's a super easy calculator,
you just enter the numbers. It'll spit out exactly what you need to do, and that number, that savings
amount, that's going to be your monthly goal.
So, if you don't already have an account,
you'll open up a retirement account, and that's where you'll begin to transfer that
savings amount to that account each month.
Where should you save your money? There are
different types of retirement accounts.
So, if your employer offers matching, then you'll
want to open a 401(k) or 403(b). In addition, you can open a Roth IRA or a traditional IRA.
IRA stands for Individual Retirement Account. If you're self-employed, you can also open a SEP
IRA. So for the Roth traditional or SEP IRAs, you can open those at any brokerage places
like Vanguard, Charles Schwab, Fidelity, or with a robo-advisor like Wealthfront or
Betterment. Any of those places offer retirement accounts. So, it's super easy to get started.
Then if your employer offers 401(k) matching, you definitely want to advantage of that.
So, what is 401(k) matching? It's when you save money for your retirement and your company
contributes the same amount that you save. They'll often match up to a certain amount
or a certain percentage of your salary.
So, if your company matches 4% of your
salary and you make $5,000 per month, you could contribute $200 per month towards your
retirement, and your company would contribute an additional $200 per month.
So you basically get
$200 in retirement money for free each month.
It's a way for companies to incentivize
their employees to save for retirement. So, if your employer offers this, definitely take
advantage of it. It's the easiest free money out there. And make sure you're contributing the
maximum amount that they're willing to match.
Okay. The next thing you'll do, if your employer
doesn't offer matching, or if you're, um, if you've already maxed that out, the next thing
you want to do is max out your contribution to your Roth or your traditional IRA. So, each year,
the IRS limits the amount that you're allowed to contribute. In 2021, the amount is $6,000.
If you're over 50, you have an extra bonus. You can contribute $7,000. So, try to contribute the
maximum amount to those accounts each year. So, max out your 401(k) to where your company matches
max out your Roth or your traditional IRA. If you're self-employed, you could also contribute to
your SEP IRA. If you're a great saver and you're saving more than those amounts, you can open
your own brokerage account.
So, a non-retirement account, and save the money there. You can use
that money for whatever you want, but you can know that you're saving that for retirement.
Once you've saved the money in those accounts, what you're going to do is invest that savings. So
for the easiest and simplest way to get invested, you'll invest in target date funds. These
are pre-made portfolios that allocate your money to a mix of stocks and bonds that
are appropriate based on your age.
If you want to invest in index funds yourself,
or if you're picking a fund that your employer offers, then you can use these rules of thumb.
Generally, you want your portfolio to be invested in the percentage of stocks that is equal to
120 minus your age.
So if you're 20 or younger, you want to have 100% of your portfolio
in stocks. If you're 30, you want 90% in stocks, for example. And just a quick
note that if you invest in target date funds, that will do that for you. The allocation
changes the allocation of stocks and bonds changes over time as you get older.
One quick thing to know is that you actually don't need to take your money, your
retirement money, out the year that you retire. You can leave it invested while you're in
retirement and just take out what you need, which means you actually have more time
than you think for your money to grow.
So, hopefully that gives you some peace of mind.
If you're getting started later in the game, if you're wondering how much you should be
saving in retirement savings each month, we have a couple of rules of thumb for you.
And
the bottom line is the sooner you start saving for retirement, the less you actually have to save,
because if you start sooner and you invest that money, it will grow and it will grow over a longer
period of time. If you're starting later in life, you have to save more because it has less
time to grow. So, if you're in your twenties, you can save 15% of your pre-tax income each
month and you'll be set. If you're starting in your thirties, you want to save 20% of your
pre-tax income. If you don't have anything saved and you're just starting to save for retirement in
your forties or your fifties, you'll need to save even more since you're starting later and your
money has less time to grow. If this is you, watch out for our next video on how to start saving
for retirement if you're in your fifties.
All right, the sooner you start saving for
retirement, the easier it is.
So, here's a recap of the steps: One, follow our wealth building
roadmap, so you know what to do in what order. Two, find your monthly savings. Number three, open
a retirement account. Four, take advantage of free money. Five, max out your contributions. Six,
invest your retirement savings, and seven, contribute to your retirement savings each
month. If you want to learn more about how to build your wealth and invest your retirement
savings, then definitely check out our webinar, Think Like an Investor. The link's in the comment
below.
All right. Thanks for watching..
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