Tag: financial success
Dave Ramsey’s Retirement Planning Advice Is Flawed: Here is How
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
Dave Ramsey is fantastic if you are needing some
simple financial help to get out of debt maybe you've been irresponsible with your money you've
racked up toxic Consumer Debt and you're looking to implement some basic strategies to eliminate
that debt and to create new habits for yourself when it comes to your money Dave has impacted
millions of people when it comes to getting out of debt when it comes to understanding money on a
very basic level uh in a better way the challenge is what has happened is Dave has helped millions
of people get out of debt and in that process he's built a lot of trust up with that people and so
then therefore they start listening to him for retirement advice for planning for the retirement
future and in this video what I'm going to do is I'm going to cover the flaw the major flaw that
is in Dave Ramsey's retirement strategies I'm not gonna argue whether he's right or wrong
about returns but I am going to point out the massive flaw that most people are missing that
he never talks about can't wait to get into it if you haven't already make sure you subscribe and
hit the Bell that way you're notified every time I launch a new video Let's Go hey what's going
on cash flow hackers it's Chris with life 180. if you've been watching this channel a while you
know how I feel about Dave Ramsey um but I want to kind of take the conversation about Dave to
a little bit of a different level in this video um here's the deal Dave is really good when it
helps you when it comes to helping you get out of debt but his advice on retirement planning
is is absolutely in my opinion atrocious one of the biggest challenges that I have about Dave and
his strategies is that he's been singing the same song for 30 years right he has not changed his
philosophies his strategies he hasn't really even changed the numbers that he uses when it comes to
retirement planning and the expectations that you should have around your entire your retirement
planning even though the economic environment has changed metamorphically right so if you
understand that there are variables that impact your money and impact what you can expect in
retirement you have to understand that there are no simple rules that Dave tries to tell you like
Dave tries to tell you to follow to execute now I will say um that you know the advice Dave gives
is like it's better than nothing like that I will say it's better than doing nothing and it's better
than what most people do but I also believe that it's it's a problem that if you follow his advice
expecting a certain result and then you get to the end of the rainbow and there's no pot of gold and
you're actually not anywhere near you where you thought you'd be that's going to be a problem once
again we're not talking about the debt elimination stuff we're talking about which by the way is a
phenomenal thing to understand that and get out of debt like so from that perspective I applaud
him now moving forward when we're talking about wealth creation that's where he falls down when
it comes to retirement planning what I did is I built a spreadsheet because I think numbers say
a million words spreadsheet you know we can go through this and what I'm going to do is I'm going
to share this so here's what I wanted to do here I wanted to take a look at a household income
of about a hundred thousand dollars in today's money I want to save 15 of that income annually
I'm going to assume an expected return of 10 per year okay so what this does is like Dave is going
to sit here and talk about the fact that you need to save money based on retirement you need to to
Target retirement account values based on your hundred thousand dollars a year of income the
challenge is Dave doesn't take into this into account when he's ever talking about it I don't
know why either I don't know why if he if he thinks people just aren't smart enough to figure
it out but to me this is just basic Financial stuff that you need to know the understanding
of you need to understand to be able to make an educated decision if you don't understand how in
inflation impacts your financial needs long term you're never going to be able to make a good
financial decision and especially that we're in this environment right now where inflation is
4.9 percent last year it was over nine percent long term since 1971 inflation has been over
four percent actually nearing four and a half percent so like from that perspective looking at
it from a long-term historical average this 4.9 inflation environment that we're in right now that
everybody's freaking out about is not even high it's just a little bit above average now a lot of
people would argue that inflation is actually way worse than what we're talking about right now
because the actual impact on the calculation of inflation uh the the impact is is much greater and
worse on individual households uh than what the calculation says because they've actually changed
the calculation over the past 40 years on how they determine the inflation numbers which to me is
Criminal on its own but here's the deal we have uh we have the hundred thousand dollars of income so
what I have over here is I have um the retirement account balance needed to live with a four percent
rule so if you don't know what the four percent rule is it's the rule of thumb that says you can
distribute four percent of your retirement account value and not run a significant risk of running
out of money during your lifetime so that is like the safe distribution calculation expectation so
what this is showing is that if you had a hundred thousand dollars of income you need 2.6 million
dollars um actually it's a hundred four thousand I didn't do it for year one if you get to year two
and um you know your real need on four percent inflation is going to be a hundred four thousand
because your cost of living with inflation going up it means you're going to need more money
it needs your hundred four thousand dollars next year with four percent inflation is gonna
feel like a hundred thousand dollars of income Fields today the challenge is household income
historically is only going up in about three percent so it's lagging actual inflation and this
is why the middle class and the poor are getting poor and there's this growing divide between the
wealthy and the middle class it's not so much other economic policies even though that has a
play with it long-term inflation is the greatest tax that is hidden to the American population and
it has a hugely negative impact uh on the middle class and lower class the most right so ultimately
this column is what I would call your freedom number your freedom number is simply the amount
of money that you need in an account to be able to retire to be able to be completely financially
free and so right now use using traditional four percent rule methodology and now I'm not taking
into account Social Security or pension or anything of that nature so if in fact you did
have a pension if in fact you want to lean on social security for any reason you'd have to look
at your calculation and reduce those off of this number and then you divide that by four percent
and that will give you uh this number so if you said let's say you had fifty four thousand dollars
of pension and social security you'd subtract that out that'd be fifty thousand divided by uh divided
by the uh four percent and that would get you what your uh Freedom number would be it would tell you
how much money you need in that account to be able to kick off passive income for you for the rest
of your life now here's the challenge as I said household income is only going up at three percent
and Dave is saying hey you need to save 15 even if we earn 10 which is by the way wildly unrealistic
right I'm showing this at at 10 and it shows you at 6.561 million here but really that's because
of the fact that it's assuming that you're going to have a 281 thousand dollar uh need for annual
income now here's the deal your income is going up at three percent per year that 283 35 years
from now because I'm assuming it's a 35 year old retiring at 65.
Dave doesn't talk about the fact
that if you earn 100 Grand right now you're going to need 281 to be able to maintain your standard
of living that's not 281 000 in today's money that's 281 000 in future money right I just did
a video the other day talking about uh inflation and the inflation crisis and ultimately how that's
going to impact you um and and how that's like the history of this inflation and and where it looks
what it looks like moving forward into the future um but this 281 by the way is assuming only
a three percent increase at a four percent historical average of inflation if we look at
it that way you're going to actually need 394 000 and if you back that out you're going to need
9 million 865 000 and the problem is all of your Social Security cost of living adjustments cost
of living increases they don't keep up with the actual rate of inflation so the need for you
to take more responsibility for your retirement planning is becoming greater and greater and
greater and as as inflation keeps going up this is a way if you think about it from a social security
perspective this is a way that the government's able to kind of save Social Security if they
can inflate the currency of four percent and devalue the currency but then only give you cost
of living adjustments at two percent that means they're recapturing that money and saving the
program simply by the way they're doing that but ultimately they're stealing that money from you
through a hidden tax the problem is Dave doesn't talk about all this and what he does is he talks
about your need for this money he talks about saving a million dollars and I got news for you
you could save three million dollars and if you get to uh retirement and you have three million
dollars but you need to live on 281 000 a year you are going to be up the creek without a paddle
you're not going to be prepared and you're not going to be in a position um you know ultimately
where you're you know going to be able to uh have a a solid situation you know that's that's
really what it comes down to you're not going to have any kind of predictable income you're not
going to have any stability uh you know and you're ultimately going to have a lot of risk especially
when it comes to Market risk sequence of return risk and and just Market volatility risk when
it comes to your retirement if you if you follow his plan you're going to be under saved when it
comes to retirement simply because you didn't give enough credibility to the impact that inflation
is going to have on your future needs because think about it this way everything I just showed
you was a 10 assumption I could show you a lot of ways that 10 is completely unrealistic especially
when you talk about actual real returns I would say six to eight percent is is the more realistic
expectation and even then there's some risk involved right so if we if we back that out what
what that would look like at even eight percent which is I think the more I guess traditional
method that most financial advisors would say you could get from a long-term perspective if
you look at eight percent you're only going to have just over four million dollars that's about
at retirement 35 years from now for a 30 year old right when you hit 65 so in that scenario you're
still looking at only accumulating about half of the money that you're going to need just to
maintain your standard of living I don't care how much you have in Social Security or pension
it's probably not going to make up that Gap and you're going to have to take a reduction in
standard of living even if you follow his advice and have no car payment and have no mortgage or
anything like that it that that doesn't matter that that's not gonna make up for the Gap that in
inflation has caused for a problem for you and so that's something that you need to consider so my
encouragement to you is to go through your plan figure out what inflation is going to do to your
retirement planning needs and if you want help with this I've got a team I've got a certified
financial planner on the team that's happy to walk through this give you a consultation walk through
your needs walk through your current plan and and give you an analysis and an evaluation on what you
need to do moving forward to reach your goals on a predictable basis one of the things I always
ask I always ask people four questions first and foremost doing what you're currently doing do you
know what rate of return your money needs to earn to be able to retire when you want and guarantee
your standard of living for the rest of your life if you don't know the answer to that question then
everything else is going to blow up you can't plan accordingly if you don't know the answer to
that question second question is if you if you don't know that number the question is do you know
how much more money you have to save to be able to retire at your desired standard of living and
be able to retire when you want and if you don't know the answer to that which most people don't
I've literally met one person in my life that actually knew those numbers ahead of time then
you start backing it out and go okay how much longer are you going to have to work if you get
to retirement age and you haven't met that and you still need to work well a lot of people they have
to work an extra decade just to make it make ends meet right people are thinking they're going to be
able to retire at 65 but they have to work till 75 or 77 or 78 it's it's really just a sad situation
but then the challenges our health a lot of times sometimes sadly unfortunately fails on us we don't
when you hit 65 there's no there's no promises there's no guarantees heck there's no guarantees
anyway but especially when you hit 65 our health starts to fail like and for most Americans most
people in this world Health starts to decline at least and there's start to be different needs our
bodies break down maybe your body isn't going to be as capable of doing the job that you did for
all those years to earn your income and so now you have to start being like even if I wanted to
keep working what is my real earning potential am I really going to keep being able to do that or
if I get sick what kind of reduction in standard of living am I going to have to take just to be
able to last the rest of my life and not run out of money right and so these are the things that
you need to consider if you haven't already like I would encourage you to really do a deep dive
because my favorite favorite quote in the world I think and it's kind of tongue-in-cheek but just
because the ostrich buries his head in the sand doesn't mean the Lion's Den or plans have changed
right this this is your problem this retirement thing is a real problem it's a it's a thing that
you need to figure out a solution to and you need to create a plan for as good as Dave is at helping
you get out of debt he's not great at helping you plan for your future um and and his his
information while it seems great because it's kind of geared towards the masses it's actually in my
opinion it's it's super detrimental to most people that are listening to them because you're going to
get to the end of the rainbow there's a going to be no pot of gold you're going to find out you got
to work longer if you're healthy enough to do so or you're going to have to reduce your standard
of living because you didn't take some of these variables into consideration so anyway hopefully
you found value in that if you did please like it share it get it out there to people subscribe
hit the Bell that way you're notified every time I launch a new video until next time have a
blessed inspirational day we'll talk soon see you
The Millionaire Mindset: Secrets to Building Wealth with Robert Kiyosaki
Jason 0 Comments Retire Wealthy
[Music] thank you welcome back to our Channel where we Empower you to build wealth and Achieve Financial Freedom today we have a special treat for you as we delve into the wisdom of one of the most renowned Financial Experts of our time Robert Kiyosaki in this video we'll be sharing his 10 essential tips for Building Wealth and attaining Financial Freedom so grab a pen and paper because you won't want to miss these valuable insights tip number one focus on cash flow according to Robert Kiyosaki the key to Financial Freedom lies in generating positive cash flow instead of solely relying on a paycheck aim to build assets that generate income and increase your cash flow over time tip number two Embrace Financial education Kiyosaki emphasizes the importance of continuously educating yourself about money and investing by expanding your financial knowledge you'll be able to make more informed decisions and seize opportunities that others may miss tip number three leverage other people's time and money Robert Kiyosaki suggests using the power of Leverage to accelerate your wealth building Journey this can involve partnering with others utilizing loans or investing in assets that have the potential for exponential growth tip number four build multiple streams of income diversifying your income sources is a crucial step towards achieving Financial Freedom Kiyosaki advises creating multiple streams of income to increase your financial stability and protect yourself from relying solely on One Source tip number five be Fearless in taking risks while caution is important Kiyosaki encourages individuals to embrace calculated risks Building Wealth often involves stepping out of your comfort zone and seizing opportunities that others might shy away from tip number six Master the art of negotiation negotiation skills play a vital role in Building Wealth according to Robert Kiyosaki learning how to negotiate effectively can help you secure better deals increase your income and save money in various aspects of your financial life number seven develop a long-term mindset Building Wealth is a marathon not a Sprint Kiyosaki emphasizes the importance of having a long-term perspective when it comes to investing in building assets patience and persistence are key in achieving lasting financial success tip number eight surround yourself with like-minded individuals your network can greatly influence your financial Journey Kiyosaki advises surrounding yourself with individuals who share similar goals and ambitions this can provide support accountability and valuable opportunities for collaboration tip number nine continuously evaluate and adjust to Achieve Financial Freedom Kiyosaki emphasizes the importance of regularly reviewing your financial situation and making necessary adjustments this involves analyzing your Investments tracking your progress and adapting your strategies accordingly tip number 10 give back and share your wealth lastly Kiyosaki encourages individuals to give back and make a positive impact on the world as you build wealth and Achieve Financial Freedom remember to share your knowledge resources and contribute to causes that align with your values there you have it Robert kiyosaki's 10 essential tips for Building Wealth and achieving Financial Freedom now it's time for you to take action and Implement these strategies in your own life remember Building Wealth is a journey that requires commitment learning and adaptability if you found this video helpful be sure to give it a thumbs up and subscribe to our channel for more valuable insights on personal finance and wealth creation and don't forget to hit the notification Bell so you never miss an update we'd love to hear from you which of these tips resonates with you the most have you already started implementing any of these strategies share your thoughts and experiences in the comments section below let's engage and learn from each other's Journeys as always thank you for watching remember wealth and Financial Freedom are within your reach stay focused stay motivated and keep working towards your goals until next time
Dave Ramsey’s Retirement Planning Advice Is Flawed: Here is How
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
Dave Ramsey is fantastic if you are needing some
simple financial help to get out of debt maybe you've been irresponsible with your money you've
racked up toxic Consumer Debt and you're looking to implement some basic strategies to eliminate
that debt and to create new habits for yourself when it comes to your money Dave has impacted
millions of people when it comes to getting out of debt when it comes to understanding money on a
very basic level uh in a better way the challenge is what has happened is Dave has helped millions
of people get out of debt and in that process he's built a lot of trust up with that people and so
then therefore they start listening to him for retirement advice for planning for the retirement
future and in this video what I'm going to do is I'm going to cover the flaw the major flaw that
is in Dave Ramsey's retirement strategies I'm not gonna argue whether he's right or wrong
about returns but I am going to point out the massive flaw that most people are missing that
he never talks about can't wait to get into it if you haven't already make sure you subscribe and
hit the Bell that way you're notified every time I launch a new video Let's Go hey what's going
on cash flow hackers it's Chris with life 180. if you've been watching this channel a while you
know how I feel about Dave Ramsey um but I want to kind of take the conversation about Dave to
a little bit of a different level in this video um here's the deal Dave is really good when it
helps you when it comes to helping you get out of debt but his advice on retirement planning
is is absolutely in my opinion atrocious one of the biggest challenges that I have about Dave and
his strategies is that he's been singing the same song for 30 years right he has not changed his
philosophies his strategies he hasn't really even changed the numbers that he uses when it comes to
retirement planning and the expectations that you should have around your entire your retirement
planning even though the economic environment has changed metamorphically right so if you
understand that there are variables that impact your money and impact what you can expect in
retirement you have to understand that there are no simple rules that Dave tries to tell you like
Dave tries to tell you to follow to execute now I will say um that you know the advice Dave gives
is like it's better than nothing like that I will say it's better than doing nothing and it's better
than what most people do but I also believe that it's it's a problem that if you follow his advice
expecting a certain result and then you get to the end of the rainbow and there's no pot of gold and
you're actually not anywhere near you where you thought you'd be that's going to be a problem once
again we're not talking about the debt elimination stuff we're talking about which by the way is a
phenomenal thing to understand that and get out of debt like so from that perspective I applaud
him now moving forward when we're talking about wealth creation that's where he falls down when
it comes to retirement planning what I did is I built a spreadsheet because I think numbers say
a million words spreadsheet you know we can go through this and what I'm going to do is I'm going
to share this so here's what I wanted to do here I wanted to take a look at a household income
of about a hundred thousand dollars in today's money I want to save 15 of that income annually
I'm going to assume an expected return of 10 per year okay so what this does is like Dave is going
to sit here and talk about the fact that you need to save money based on retirement you need to to
Target retirement account values based on your hundred thousand dollars a year of income the
challenge is Dave doesn't take into this into account when he's ever talking about it I don't
know why either I don't know why if he if he thinks people just aren't smart enough to figure
it out but to me this is just basic Financial stuff that you need to know the understanding
of you need to understand to be able to make an educated decision if you don't understand how in
inflation impacts your financial needs long term you're never going to be able to make a good
financial decision and especially that we're in this environment right now where inflation is
4.9 percent last year it was over nine percent long term since 1971 inflation has been over
four percent actually nearing four and a half percent so like from that perspective looking at
it from a long-term historical average this 4.9 inflation environment that we're in right now that
everybody's freaking out about is not even high it's just a little bit above average now a lot of
people would argue that inflation is actually way worse than what we're talking about right now
because the actual impact on the calculation of inflation uh the the impact is is much greater and
worse on individual households uh than what the calculation says because they've actually changed
the calculation over the past 40 years on how they determine the inflation numbers which to me is
Criminal on its own but here's the deal we have uh we have the hundred thousand dollars of income so
what I have over here is I have um the retirement account balance needed to live with a four percent
rule so if you don't know what the four percent rule is it's the rule of thumb that says you can
distribute four percent of your retirement account value and not run a significant risk of running
out of money during your lifetime so that is like the safe distribution calculation expectation so
what this is showing is that if you had a hundred thousand dollars of income you need 2.6 million
dollars um actually it's a hundred four thousand I didn't do it for year one if you get to year two
and um you know your real need on four percent inflation is going to be a hundred four thousand
because your cost of living with inflation going up it means you're going to need more money
it needs your hundred four thousand dollars next year with four percent inflation is gonna
feel like a hundred thousand dollars of income Fields today the challenge is household income
historically is only going up in about three percent so it's lagging actual inflation and this
is why the middle class and the poor are getting poor and there's this growing divide between the
wealthy and the middle class it's not so much other economic policies even though that has a
play with it long-term inflation is the greatest tax that is hidden to the American population and
it has a hugely negative impact uh on the middle class and lower class the most right so ultimately
this column is what I would call your freedom number your freedom number is simply the amount
of money that you need in an account to be able to retire to be able to be completely financially
free and so right now use using traditional four percent rule methodology and now I'm not taking
into account Social Security or pension or anything of that nature so if in fact you did
have a pension if in fact you want to lean on social security for any reason you'd have to look
at your calculation and reduce those off of this number and then you divide that by four percent
and that will give you uh this number so if you said let's say you had fifty four thousand dollars
of pension and social security you'd subtract that out that'd be fifty thousand divided by uh divided
by the uh four percent and that would get you what your uh Freedom number would be it would tell you
how much money you need in that account to be able to kick off passive income for you for the rest
of your life now here's the challenge as I said household income is only going up at three percent
and Dave is saying hey you need to save 15 even if we earn 10 which is by the way wildly unrealistic
right I'm showing this at at 10 and it shows you at 6.561 million here but really that's because
of the fact that it's assuming that you're going to have a 281 thousand dollar uh need for annual
income now here's the deal your income is going up at three percent per year that 283 35 years
from now because I'm assuming it's a 35 year old retiring at 65.
Dave doesn't talk about the fact
that if you earn 100 Grand right now you're going to need 281 to be able to maintain your standard
of living that's not 281 000 in today's money that's 281 000 in future money right I just did
a video the other day talking about uh inflation and the inflation crisis and ultimately how that's
going to impact you um and and how that's like the history of this inflation and and where it looks
what it looks like moving forward into the future um but this 281 by the way is assuming only
a three percent increase at a four percent historical average of inflation if we look at
it that way you're going to actually need 394 000 and if you back that out you're going to need
9 million 865 000 and the problem is all of your Social Security cost of living adjustments cost
of living increases they don't keep up with the actual rate of inflation so the need for you
to take more responsibility for your retirement planning is becoming greater and greater and
greater and as as inflation keeps going up this is a way if you think about it from a social security
perspective this is a way that the government's able to kind of save Social Security if they
can inflate the currency of four percent and devalue the currency but then only give you cost
of living adjustments at two percent that means they're recapturing that money and saving the
program simply by the way they're doing that but ultimately they're stealing that money from you
through a hidden tax the problem is Dave doesn't talk about all this and what he does is he talks
about your need for this money he talks about saving a million dollars and I got news for you
you could save three million dollars and if you get to uh retirement and you have three million
dollars but you need to live on 281 000 a year you are going to be up the creek without a paddle
you're not going to be prepared and you're not going to be in a position um you know ultimately
where you're you know going to be able to uh have a a solid situation you know that's that's
really what it comes down to you're not going to have any kind of predictable income you're not
going to have any stability uh you know and you're ultimately going to have a lot of risk especially
when it comes to Market risk sequence of return risk and and just Market volatility risk when
it comes to your retirement if you if you follow his plan you're going to be under saved when it
comes to retirement simply because you didn't give enough credibility to the impact that inflation
is going to have on your future needs because think about it this way everything I just showed
you was a 10 assumption I could show you a lot of ways that 10 is completely unrealistic especially
when you talk about actual real returns I would say six to eight percent is is the more realistic
expectation and even then there's some risk involved right so if we if we back that out what
what that would look like at even eight percent which is I think the more I guess traditional
method that most financial advisors would say you could get from a long-term perspective if
you look at eight percent you're only going to have just over four million dollars that's about
at retirement 35 years from now for a 30 year old right when you hit 65 so in that scenario you're
still looking at only accumulating about half of the money that you're going to need just to
maintain your standard of living I don't care how much you have in Social Security or pension
it's probably not going to make up that Gap and you're going to have to take a reduction in
standard of living even if you follow his advice and have no car payment and have no mortgage or
anything like that it that that doesn't matter that that's not gonna make up for the Gap that in
inflation has caused for a problem for you and so that's something that you need to consider so my
encouragement to you is to go through your plan figure out what inflation is going to do to your
retirement planning needs and if you want help with this I've got a team I've got a certified
financial planner on the team that's happy to walk through this give you a consultation walk through
your needs walk through your current plan and and give you an analysis and an evaluation on what you
need to do moving forward to reach your goals on a predictable basis one of the things I always
ask I always ask people four questions first and foremost doing what you're currently doing do you
know what rate of return your money needs to earn to be able to retire when you want and guarantee
your standard of living for the rest of your life if you don't know the answer to that question then
everything else is going to blow up you can't plan accordingly if you don't know the answer to
that question second question is if you if you don't know that number the question is do you know
how much more money you have to save to be able to retire at your desired standard of living and
be able to retire when you want and if you don't know the answer to that which most people don't
I've literally met one person in my life that actually knew those numbers ahead of time then
you start backing it out and go okay how much longer are you going to have to work if you get
to retirement age and you haven't met that and you still need to work well a lot of people they have
to work an extra decade just to make it make ends meet right people are thinking they're going to be
able to retire at 65 but they have to work till 75 or 77 or 78 it's it's really just a sad situation
but then the challenges our health a lot of times sometimes sadly unfortunately fails on us we don't
when you hit 65 there's no there's no promises there's no guarantees heck there's no guarantees
anyway but especially when you hit 65 our health starts to fail like and for most Americans most
people in this world Health starts to decline at least and there's start to be different needs our
bodies break down maybe your body isn't going to be as capable of doing the job that you did for
all those years to earn your income and so now you have to start being like even if I wanted to
keep working what is my real earning potential am I really going to keep being able to do that or
if I get sick what kind of reduction in standard of living am I going to have to take just to be
able to last the rest of my life and not run out of money right and so these are the things that
you need to consider if you haven't already like I would encourage you to really do a deep dive
because my favorite favorite quote in the world I think and it's kind of tongue-in-cheek but just
because the ostrich buries his head in the sand doesn't mean the Lion's Den or plans have changed
right this this is your problem this retirement thing is a real problem it's a it's a thing that
you need to figure out a solution to and you need to create a plan for as good as Dave is at helping
you get out of debt he's not great at helping you plan for your future um and and his his
information while it seems great because it's kind of geared towards the masses it's actually in my
opinion it's it's super detrimental to most people that are listening to them because you're going to
get to the end of the rainbow there's a going to be no pot of gold you're going to find out you got
to work longer if you're healthy enough to do so or you're going to have to reduce your standard
of living because you didn't take some of these variables into consideration so anyway hopefully
you found value in that if you did please like it share it get it out there to people subscribe
hit the Bell that way you're notified every time I launch a new video until next time have a
blessed inspirational day we'll talk soon see you
Dave Ramsey’s Retirement Planning Advice Is Flawed: Here is How
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
Dave Ramsey is fantastic if you are needing some
simple financial help to get out of debt maybe you've been irresponsible with your money you've
racked up toxic Consumer Debt and you're looking to implement some basic strategies to eliminate
that debt and to create new habits for yourself when it comes to your money Dave has impacted
millions of people when it comes to getting out of debt when it comes to understanding money on a
very basic level uh in a better way the challenge is what has happened is Dave has helped millions
of people get out of debt and in that process he's built a lot of trust up with that people and so
then therefore they start listening to him for retirement advice for planning for the retirement
future and in this video what I'm going to do is I'm going to cover the flaw the major flaw that
is in Dave Ramsey's retirement strategies I'm not gonna argue whether he's right or wrong
about returns but I am going to point out the massive flaw that most people are missing that
he never talks about can't wait to get into it if you haven't already make sure you subscribe and
hit the Bell that way you're notified every time I launch a new video Let's Go hey what's going
on cash flow hackers it's Chris with life 180. if you've been watching this channel a while you
know how I feel about Dave Ramsey um but I want to kind of take the conversation about Dave to
a little bit of a different level in this video um here's the deal Dave is really good when it
helps you when it comes to helping you get out of debt but his advice on retirement planning
is is absolutely in my opinion atrocious one of the biggest challenges that I have about Dave and
his strategies is that he's been singing the same song for 30 years right he has not changed his
philosophies his strategies he hasn't really even changed the numbers that he uses when it comes to
retirement planning and the expectations that you should have around your entire your retirement
planning even though the economic environment has changed metamorphically right so if you
understand that there are variables that impact your money and impact what you can expect in
retirement you have to understand that there are no simple rules that Dave tries to tell you like
Dave tries to tell you to follow to execute now I will say um that you know the advice Dave gives
is like it's better than nothing like that I will say it's better than doing nothing and it's better
than what most people do but I also believe that it's it's a problem that if you follow his advice
expecting a certain result and then you get to the end of the rainbow and there's no pot of gold and
you're actually not anywhere near you where you thought you'd be that's going to be a problem once
again we're not talking about the debt elimination stuff we're talking about which by the way is a
phenomenal thing to understand that and get out of debt like so from that perspective I applaud
him now moving forward when we're talking about wealth creation that's where he falls down when
it comes to retirement planning what I did is I built a spreadsheet because I think numbers say
a million words spreadsheet you know we can go through this and what I'm going to do is I'm going
to share this so here's what I wanted to do here I wanted to take a look at a household income
of about a hundred thousand dollars in today's money I want to save 15 of that income annually
I'm going to assume an expected return of 10 per year okay so what this does is like Dave is going
to sit here and talk about the fact that you need to save money based on retirement you need to to
Target retirement account values based on your hundred thousand dollars a year of income the
challenge is Dave doesn't take into this into account when he's ever talking about it I don't
know why either I don't know why if he if he thinks people just aren't smart enough to figure
it out but to me this is just basic Financial stuff that you need to know the understanding
of you need to understand to be able to make an educated decision if you don't understand how in
inflation impacts your financial needs long term you're never going to be able to make a good
financial decision and especially that we're in this environment right now where inflation is
4.9 percent last year it was over nine percent long term since 1971 inflation has been over
four percent actually nearing four and a half percent so like from that perspective looking at
it from a long-term historical average this 4.9 inflation environment that we're in right now that
everybody's freaking out about is not even high it's just a little bit above average now a lot of
people would argue that inflation is actually way worse than what we're talking about right now
because the actual impact on the calculation of inflation uh the the impact is is much greater and
worse on individual households uh than what the calculation says because they've actually changed
the calculation over the past 40 years on how they determine the inflation numbers which to me is
Criminal on its own but here's the deal we have uh we have the hundred thousand dollars of income so
what I have over here is I have um the retirement account balance needed to live with a four percent
rule so if you don't know what the four percent rule is it's the rule of thumb that says you can
distribute four percent of your retirement account value and not run a significant risk of running
out of money during your lifetime so that is like the safe distribution calculation expectation so
what this is showing is that if you had a hundred thousand dollars of income you need 2.6 million
dollars um actually it's a hundred four thousand I didn't do it for year one if you get to year two
and um you know your real need on four percent inflation is going to be a hundred four thousand
because your cost of living with inflation going up it means you're going to need more money
it needs your hundred four thousand dollars next year with four percent inflation is gonna
feel like a hundred thousand dollars of income Fields today the challenge is household income
historically is only going up in about three percent so it's lagging actual inflation and this
is why the middle class and the poor are getting poor and there's this growing divide between the
wealthy and the middle class it's not so much other economic policies even though that has a
play with it long-term inflation is the greatest tax that is hidden to the American population and
it has a hugely negative impact uh on the middle class and lower class the most right so ultimately
this column is what I would call your freedom number your freedom number is simply the amount
of money that you need in an account to be able to retire to be able to be completely financially
free and so right now use using traditional four percent rule methodology and now I'm not taking
into account Social Security or pension or anything of that nature so if in fact you did
have a pension if in fact you want to lean on social security for any reason you'd have to look
at your calculation and reduce those off of this number and then you divide that by four percent
and that will give you uh this number so if you said let's say you had fifty four thousand dollars
of pension and social security you'd subtract that out that'd be fifty thousand divided by uh divided
by the uh four percent and that would get you what your uh Freedom number would be it would tell you
how much money you need in that account to be able to kick off passive income for you for the rest
of your life now here's the challenge as I said household income is only going up at three percent
and Dave is saying hey you need to save 15 even if we earn 10 which is by the way wildly unrealistic
right I'm showing this at at 10 and it shows you at 6.561 million here but really that's because
of the fact that it's assuming that you're going to have a 281 thousand dollar uh need for annual
income now here's the deal your income is going up at three percent per year that 283 35 years
from now because I'm assuming it's a 35 year old retiring at 65.
Dave doesn't talk about the fact
that if you earn 100 Grand right now you're going to need 281 to be able to maintain your standard
of living that's not 281 000 in today's money that's 281 000 in future money right I just did
a video the other day talking about uh inflation and the inflation crisis and ultimately how that's
going to impact you um and and how that's like the history of this inflation and and where it looks
what it looks like moving forward into the future um but this 281 by the way is assuming only
a three percent increase at a four percent historical average of inflation if we look at
it that way you're going to actually need 394 000 and if you back that out you're going to need
9 million 865 000 and the problem is all of your Social Security cost of living adjustments cost
of living increases they don't keep up with the actual rate of inflation so the need for you
to take more responsibility for your retirement planning is becoming greater and greater and
greater and as as inflation keeps going up this is a way if you think about it from a social security
perspective this is a way that the government's able to kind of save Social Security if they
can inflate the currency of four percent and devalue the currency but then only give you cost
of living adjustments at two percent that means they're recapturing that money and saving the
program simply by the way they're doing that but ultimately they're stealing that money from you
through a hidden tax the problem is Dave doesn't talk about all this and what he does is he talks
about your need for this money he talks about saving a million dollars and I got news for you
you could save three million dollars and if you get to uh retirement and you have three million
dollars but you need to live on 281 000 a year you are going to be up the creek without a paddle
you're not going to be prepared and you're not going to be in a position um you know ultimately
where you're you know going to be able to uh have a a solid situation you know that's that's
really what it comes down to you're not going to have any kind of predictable income you're not
going to have any stability uh you know and you're ultimately going to have a lot of risk especially
when it comes to Market risk sequence of return risk and and just Market volatility risk when
it comes to your retirement if you if you follow his plan you're going to be under saved when it
comes to retirement simply because you didn't give enough credibility to the impact that inflation
is going to have on your future needs because think about it this way everything I just showed
you was a 10 assumption I could show you a lot of ways that 10 is completely unrealistic especially
when you talk about actual real returns I would say six to eight percent is is the more realistic
expectation and even then there's some risk involved right so if we if we back that out what
what that would look like at even eight percent which is I think the more I guess traditional
method that most financial advisors would say you could get from a long-term perspective if
you look at eight percent you're only going to have just over four million dollars that's about
at retirement 35 years from now for a 30 year old right when you hit 65 so in that scenario you're
still looking at only accumulating about half of the money that you're going to need just to
maintain your standard of living I don't care how much you have in Social Security or pension
it's probably not going to make up that Gap and you're going to have to take a reduction in
standard of living even if you follow his advice and have no car payment and have no mortgage or
anything like that it that that doesn't matter that that's not gonna make up for the Gap that in
inflation has caused for a problem for you and so that's something that you need to consider so my
encouragement to you is to go through your plan figure out what inflation is going to do to your
retirement planning needs and if you want help with this I've got a team I've got a certified
financial planner on the team that's happy to walk through this give you a consultation walk through
your needs walk through your current plan and and give you an analysis and an evaluation on what you
need to do moving forward to reach your goals on a predictable basis one of the things I always
ask I always ask people four questions first and foremost doing what you're currently doing do you
know what rate of return your money needs to earn to be able to retire when you want and guarantee
your standard of living for the rest of your life if you don't know the answer to that question then
everything else is going to blow up you can't plan accordingly if you don't know the answer to
that question second question is if you if you don't know that number the question is do you know
how much more money you have to save to be able to retire at your desired standard of living and
be able to retire when you want and if you don't know the answer to that which most people don't
I've literally met one person in my life that actually knew those numbers ahead of time then
you start backing it out and go okay how much longer are you going to have to work if you get
to retirement age and you haven't met that and you still need to work well a lot of people they have
to work an extra decade just to make it make ends meet right people are thinking they're going to be
able to retire at 65 but they have to work till 75 or 77 or 78 it's it's really just a sad situation
but then the challenges our health a lot of times sometimes sadly unfortunately fails on us we don't
when you hit 65 there's no there's no promises there's no guarantees heck there's no guarantees
anyway but especially when you hit 65 our health starts to fail like and for most Americans most
people in this world Health starts to decline at least and there's start to be different needs our
bodies break down maybe your body isn't going to be as capable of doing the job that you did for
all those years to earn your income and so now you have to start being like even if I wanted to
keep working what is my real earning potential am I really going to keep being able to do that or
if I get sick what kind of reduction in standard of living am I going to have to take just to be
able to last the rest of my life and not run out of money right and so these are the things that
you need to consider if you haven't already like I would encourage you to really do a deep dive
because my favorite favorite quote in the world I think and it's kind of tongue-in-cheek but just
because the ostrich buries his head in the sand doesn't mean the Lion's Den or plans have changed
right this this is your problem this retirement thing is a real problem it's a it's a thing that
you need to figure out a solution to and you need to create a plan for as good as Dave is at helping
you get out of debt he's not great at helping you plan for your future um and and his his
information while it seems great because it's kind of geared towards the masses it's actually in my
opinion it's it's super detrimental to most people that are listening to them because you're going to
get to the end of the rainbow there's a going to be no pot of gold you're going to find out you got
to work longer if you're healthy enough to do so or you're going to have to reduce your standard
of living because you didn't take some of these variables into consideration so anyway hopefully
you found value in that if you did please like it share it get it out there to people subscribe
hit the Bell that way you're notified every time I launch a new video until next time have a
blessed inspirational day we'll talk soon see you
Dave Ramsey’s Retirement Planning Advice Is Flawed: Here is How
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
Dave Ramsey is fantastic if you are needing some
simple financial help to get out of debt maybe you've been irresponsible with your money you've
racked up toxic Consumer Debt and you're looking to implement some basic strategies to eliminate
that debt and to create new habits for yourself when it comes to your money Dave has impacted
millions of people when it comes to getting out of debt when it comes to understanding money on a
very basic level uh in a better way the challenge is what has happened is Dave has helped millions
of people get out of debt and in that process he's built a lot of trust up with that people and so
then therefore they start listening to him for retirement advice for planning for the retirement
future and in this video what I'm going to do is I'm going to cover the flaw the major flaw that
is in Dave Ramsey's retirement strategies I'm not gonna argue whether he's right or wrong
about returns but I am going to point out the massive flaw that most people are missing that
he never talks about can't wait to get into it if you haven't already make sure you subscribe and
hit the Bell that way you're notified every time I launch a new video Let's Go hey what's going
on cash flow hackers it's Chris with life 180. if you've been watching this channel a while you
know how I feel about Dave Ramsey um but I want to kind of take the conversation about Dave to
a little bit of a different level in this video um here's the deal Dave is really good when it
helps you when it comes to helping you get out of debt but his advice on retirement planning
is is absolutely in my opinion atrocious one of the biggest challenges that I have about Dave and
his strategies is that he's been singing the same song for 30 years right he has not changed his
philosophies his strategies he hasn't really even changed the numbers that he uses when it comes to
retirement planning and the expectations that you should have around your entire your retirement
planning even though the economic environment has changed metamorphically right so if you
understand that there are variables that impact your money and impact what you can expect in
retirement you have to understand that there are no simple rules that Dave tries to tell you like
Dave tries to tell you to follow to execute now I will say um that you know the advice Dave gives
is like it's better than nothing like that I will say it's better than doing nothing and it's better
than what most people do but I also believe that it's it's a problem that if you follow his advice
expecting a certain result and then you get to the end of the rainbow and there's no pot of gold and
you're actually not anywhere near you where you thought you'd be that's going to be a problem once
again we're not talking about the debt elimination stuff we're talking about which by the way is a
phenomenal thing to understand that and get out of debt like so from that perspective I applaud
him now moving forward when we're talking about wealth creation that's where he falls down when
it comes to retirement planning what I did is I built a spreadsheet because I think numbers say
a million words spreadsheet you know we can go through this and what I'm going to do is I'm going
to share this so here's what I wanted to do here I wanted to take a look at a household income
of about a hundred thousand dollars in today's money I want to save 15 of that income annually
I'm going to assume an expected return of 10 per year okay so what this does is like Dave is going
to sit here and talk about the fact that you need to save money based on retirement you need to to
Target retirement account values based on your hundred thousand dollars a year of income the
challenge is Dave doesn't take into this into account when he's ever talking about it I don't
know why either I don't know why if he if he thinks people just aren't smart enough to figure
it out but to me this is just basic Financial stuff that you need to know the understanding
of you need to understand to be able to make an educated decision if you don't understand how in
inflation impacts your financial needs long term you're never going to be able to make a good
financial decision and especially that we're in this environment right now where inflation is
4.9 percent last year it was over nine percent long term since 1971 inflation has been over
four percent actually nearing four and a half percent so like from that perspective looking at
it from a long-term historical average this 4.9 inflation environment that we're in right now that
everybody's freaking out about is not even high it's just a little bit above average now a lot of
people would argue that inflation is actually way worse than what we're talking about right now
because the actual impact on the calculation of inflation uh the the impact is is much greater and
worse on individual households uh than what the calculation says because they've actually changed
the calculation over the past 40 years on how they determine the inflation numbers which to me is
Criminal on its own but here's the deal we have uh we have the hundred thousand dollars of income so
what I have over here is I have um the retirement account balance needed to live with a four percent
rule so if you don't know what the four percent rule is it's the rule of thumb that says you can
distribute four percent of your retirement account value and not run a significant risk of running
out of money during your lifetime so that is like the safe distribution calculation expectation so
what this is showing is that if you had a hundred thousand dollars of income you need 2.6 million
dollars um actually it's a hundred four thousand I didn't do it for year one if you get to year two
and um you know your real need on four percent inflation is going to be a hundred four thousand
because your cost of living with inflation going up it means you're going to need more money
it needs your hundred four thousand dollars next year with four percent inflation is gonna
feel like a hundred thousand dollars of income Fields today the challenge is household income
historically is only going up in about three percent so it's lagging actual inflation and this
is why the middle class and the poor are getting poor and there's this growing divide between the
wealthy and the middle class it's not so much other economic policies even though that has a
play with it long-term inflation is the greatest tax that is hidden to the American population and
it has a hugely negative impact uh on the middle class and lower class the most right so ultimately
this column is what I would call your freedom number your freedom number is simply the amount
of money that you need in an account to be able to retire to be able to be completely financially
free and so right now use using traditional four percent rule methodology and now I'm not taking
into account Social Security or pension or anything of that nature so if in fact you did
have a pension if in fact you want to lean on social security for any reason you'd have to look
at your calculation and reduce those off of this number and then you divide that by four percent
and that will give you uh this number so if you said let's say you had fifty four thousand dollars
of pension and social security you'd subtract that out that'd be fifty thousand divided by uh divided
by the uh four percent and that would get you what your uh Freedom number would be it would tell you
how much money you need in that account to be able to kick off passive income for you for the rest
of your life now here's the challenge as I said household income is only going up at three percent
and Dave is saying hey you need to save 15 even if we earn 10 which is by the way wildly unrealistic
right I'm showing this at at 10 and it shows you at 6.561 million here but really that's because
of the fact that it's assuming that you're going to have a 281 thousand dollar uh need for annual
income now here's the deal your income is going up at three percent per year that 283 35 years
from now because I'm assuming it's a 35 year old retiring at 65.
Dave doesn't talk about the fact
that if you earn 100 Grand right now you're going to need 281 to be able to maintain your standard
of living that's not 281 000 in today's money that's 281 000 in future money right I just did
a video the other day talking about uh inflation and the inflation crisis and ultimately how that's
going to impact you um and and how that's like the history of this inflation and and where it looks
what it looks like moving forward into the future um but this 281 by the way is assuming only
a three percent increase at a four percent historical average of inflation if we look at
it that way you're going to actually need 394 000 and if you back that out you're going to need
9 million 865 000 and the problem is all of your Social Security cost of living adjustments cost
of living increases they don't keep up with the actual rate of inflation so the need for you
to take more responsibility for your retirement planning is becoming greater and greater and
greater and as as inflation keeps going up this is a way if you think about it from a social security
perspective this is a way that the government's able to kind of save Social Security if they
can inflate the currency of four percent and devalue the currency but then only give you cost
of living adjustments at two percent that means they're recapturing that money and saving the
program simply by the way they're doing that but ultimately they're stealing that money from you
through a hidden tax the problem is Dave doesn't talk about all this and what he does is he talks
about your need for this money he talks about saving a million dollars and I got news for you
you could save three million dollars and if you get to uh retirement and you have three million
dollars but you need to live on 281 000 a year you are going to be up the creek without a paddle
you're not going to be prepared and you're not going to be in a position um you know ultimately
where you're you know going to be able to uh have a a solid situation you know that's that's
really what it comes down to you're not going to have any kind of predictable income you're not
going to have any stability uh you know and you're ultimately going to have a lot of risk especially
when it comes to Market risk sequence of return risk and and just Market volatility risk when
it comes to your retirement if you if you follow his plan you're going to be under saved when it
comes to retirement simply because you didn't give enough credibility to the impact that inflation
is going to have on your future needs because think about it this way everything I just showed
you was a 10 assumption I could show you a lot of ways that 10 is completely unrealistic especially
when you talk about actual real returns I would say six to eight percent is is the more realistic
expectation and even then there's some risk involved right so if we if we back that out what
what that would look like at even eight percent which is I think the more I guess traditional
method that most financial advisors would say you could get from a long-term perspective if
you look at eight percent you're only going to have just over four million dollars that's about
at retirement 35 years from now for a 30 year old right when you hit 65 so in that scenario you're
still looking at only accumulating about half of the money that you're going to need just to
maintain your standard of living I don't care how much you have in Social Security or pension
it's probably not going to make up that Gap and you're going to have to take a reduction in
standard of living even if you follow his advice and have no car payment and have no mortgage or
anything like that it that that doesn't matter that that's not gonna make up for the Gap that in
inflation has caused for a problem for you and so that's something that you need to consider so my
encouragement to you is to go through your plan figure out what inflation is going to do to your
retirement planning needs and if you want help with this I've got a team I've got a certified
financial planner on the team that's happy to walk through this give you a consultation walk through
your needs walk through your current plan and and give you an analysis and an evaluation on what you
need to do moving forward to reach your goals on a predictable basis one of the things I always
ask I always ask people four questions first and foremost doing what you're currently doing do you
know what rate of return your money needs to earn to be able to retire when you want and guarantee
your standard of living for the rest of your life if you don't know the answer to that question then
everything else is going to blow up you can't plan accordingly if you don't know the answer to
that question second question is if you if you don't know that number the question is do you know
how much more money you have to save to be able to retire at your desired standard of living and
be able to retire when you want and if you don't know the answer to that which most people don't
I've literally met one person in my life that actually knew those numbers ahead of time then
you start backing it out and go okay how much longer are you going to have to work if you get
to retirement age and you haven't met that and you still need to work well a lot of people they have
to work an extra decade just to make it make ends meet right people are thinking they're going to be
able to retire at 65 but they have to work till 75 or 77 or 78 it's it's really just a sad situation
but then the challenges our health a lot of times sometimes sadly unfortunately fails on us we don't
when you hit 65 there's no there's no promises there's no guarantees heck there's no guarantees
anyway but especially when you hit 65 our health starts to fail like and for most Americans most
people in this world Health starts to decline at least and there's start to be different needs our
bodies break down maybe your body isn't going to be as capable of doing the job that you did for
all those years to earn your income and so now you have to start being like even if I wanted to
keep working what is my real earning potential am I really going to keep being able to do that or
if I get sick what kind of reduction in standard of living am I going to have to take just to be
able to last the rest of my life and not run out of money right and so these are the things that
you need to consider if you haven't already like I would encourage you to really do a deep dive
because my favorite favorite quote in the world I think and it's kind of tongue-in-cheek but just
because the ostrich buries his head in the sand doesn't mean the Lion's Den or plans have changed
right this this is your problem this retirement thing is a real problem it's a it's a thing that
you need to figure out a solution to and you need to create a plan for as good as Dave is at helping
you get out of debt he's not great at helping you plan for your future um and and his his
information while it seems great because it's kind of geared towards the masses it's actually in my
opinion it's it's super detrimental to most people that are listening to them because you're going to
get to the end of the rainbow there's a going to be no pot of gold you're going to find out you got
to work longer if you're healthy enough to do so or you're going to have to reduce your standard
of living because you didn't take some of these variables into consideration so anyway hopefully
you found value in that if you did please like it share it get it out there to people subscribe
hit the Bell that way you're notified every time I launch a new video until next time have a
blessed inspirational day we'll talk soon see you
Top 3 Do’s and Don’ts for Building Wealth
Jason 0 Comments Retire Wealthy
[Music] welcome in coming up on today's program top three do's and don'ts for Building Wealth I hear folks say I'm good at the don'ts of Building Wealth or the dues don't they require money don't they wealth how to get it how to keep it and how to avoid the trip wires that could blow it when it comes to wealth what are you experiencing with the do's and don'ts we've had many viewers ask about that let us know what you think in the comments section you're watching what's next with money a program that holds a promise of second chances for growth and financial empowerment with wealth three critical principles and advice saving for wealth how to keep wealth what not to do when you're on your way to wealth but also when you are wealthy we're going to reference a lot of great Insight from the psychology of money book by Morgan Hansel and have a link to it in the comments section now we're talking about that top three do's and don'ts for Building Wealth here's number one you saving your way to wealth this is how to get it Building Wealth has little to do with your income or investment returns but it's got a lot to do with your saving rate Morgan talks about that savings rate wealth is the accumulated leftovers after you spend what you take in now this is actually pretty easy to control if you latch onto this idea learning to be happy with less money creates a gap between what you have and what you want it's kind of like that Gap created if you've got a growing paycheck your savings goes further and can get bigger as that income Rises but savings without a spending goal attached gives you options and flexibility now folks I want to actually repeat this this is the core idea of wealth building savings without a spending goal attached gives you options and flexibility this is the concept of saving just to save but you get time to think and set your actions and intentions on your own terms a great writer and business advisor Dan Sullivan who wrote the Strategic coach calls this a walk away fund and we've talked about this in some of our other videos this is if you've got enough savings you've had it with your job or there's something unethical happening there you can walk away and do okay and reset your career path by Saving in this manner your financial Independence grows and folks I have personally lived this flexibility gives you the ability to wait for good opportunities in your career small business and especially your Investments the hardest Financial skill is getting the goal posts to stop moving according to Morgan it gets to the classic case of more versus enough and a quick example the real estate business my wife and I started we could have kept going to develop and acquire more properties but at some point we stopped we met our goals and we paid our debts early and completely all out of rants with no outside partners yet we're still actively investing in other forms of assets and Equity markets but I had to stop and think who or what was I trying to impress if I kept making the real estate business bigger would it be other people who don't know me or don't care you know we reached a Target that was very good and it's still growing in value and wealth we did not need to move the goal posts and we didn't generating wealth is often linked to generating Envy they seem like they're on Parallel slopes on a graph in other words it's a form of social comparison and we're talking about the top three do's and don'ts for building well here's number two getting wealthy and staying wealthy this is how to keep it bottom line strive to consistently not screw up we have to hold in our minds and our attitude some combination of frugality and paranoia now this is a very unique tension but it's very profitable with frugality we live below our means with paranoia we're questioning am I doing the right thing and am I doing that right thing well but by keeping on learning and getting professional advice we can do this so getting money is one thing keeping it is another getting money requires taking risks being optimistic putting yourself out there keeping money is kind of the opposite of taking risks it requires humility back to that frugality and it requires a little bit of fear paranoia the idea that what you have made and achieved can be taken away and that some of your financial investing success and I would add real estate success you've got to admit some of this is attributable to luck the time you're in the markets or you're buying them I could list probably five examples of luck during real estate and other types of investing bottom line here past success can't be relied upon to be repeated indefinitely external events markets family needs change and we change the ability to stick around for a long time without wiping out or being forced to give up staying in the game not capitulating is financial endurance it's a key to Building Wealth powering through recessions and downturns smartly we have many videos that help you do this on our what's next with money Channel swinging for the fences and investing for home runs or grand slams can put your portfolio at risk so strive with investing to hit singles and doubles and obviously don't put all your eggs in one basket a friend of mine years ago said if you had an investment if it doubles sell half and this is really about stocks if it triples sell it all it's pretty good advice I don't always follow that some to my regret we have another set of videos they're actually too called investing in what you know where I talk about letting your winners run compounding only works if you can give assets years and years to grow Warren Buffett we've got several of his books here hasn't always been one of the richest men in the world as of this taping this guy is age 92.
Warren Buffett didn't even become a billionaire until he was 50 years old in fact this blew my mind 99 of Warren Buffett's net worth was earned after that 50th birthday I have seen this pattern and dimension of net worth growth first hand and we've got a fantastic video called net worth equals net wealth so if you're getting value from this video be sure to hit that subscribe button and the like button and share it with folks it's free and non-commercial we're talking about the top three do's and don'ts for Building Wealth and here is number three wealth what not to do this is avoiding the tripwires Warren Buffett's what not to-do list is really interesting he's not loaded with debt no he didn't panic and sell during the 15 recessions he's lived through as an active investor he does not jump into excessive Trading he's generally very tax sensitive and he pays for good advice to help you he's kept a sterling business reputation with his ethics he's not locked into one strategy world view or trend he did not use other people's money but he does use Insurance floats and we explained that in some of our videos how Berkshire Hathaway is structured he did not quit he kept going he is still going and I take great excitement from this as an investor small business owner and media influencer I can keep going you can keep going Warren Buffett and his partner Charlie Munger have stayed wealthy they had an edge and survived to stay wealthy requires that margin of safety he talks about so much reserves and to not put all of your assets at Great risk think about this concept and it comes from Morgan's psychology of money book that having cash buckets to prevent you from selling during a bear Market or a downturn if you need to pull money for your household or in retirement you take it out of the cash bucket you don't sell stocks or mutual funds when when they're under pressure or low and you might think wait a minute I'm only earning an interest rate of one or two percent on that cash actually you have avoided a loser return you've avoided much more negativity by having not to have to sell that stock at a low price you didn't sell equities at low prices so that return on that cash is higher than one or two percent now what about compounding compounding means good returns uninterrupted over long periods of time and that's what Berkshire Hathaway does now returns won't be up every year only Bernie Madoff claimed that and you know how that turned out so be sure to hit that subscribe and like button and don't forget to share new episodes of what's next with money or posted on Thursdays I'm Bretton Eiser looking to see you next time on what's next with money [Music] thank you
Read MoreWhy You Shouldn’t Chase Money – Millionaire Mindset Wealth Principle #2 – Millionaire Mindset Ep. 4
Jason 0 Comments Retire Wealthy
– Millionaire attitude wide range principle second: Believe demands, not money. Please claim it together. Believe requirements not cash. If you chase after money, it'' s. really hard to obtain money. Chase requires. It ' s very easy to generate income. Believe needs, not cash. Below'' s a little fascinating cartoon. The hundred dollar bill having a conversation with a $1 bill. The hundred buck bill stated, “” You recognize, I had a great life. Wonderful house, fast cars and trucks, fantastic trips, and expensive dining establishments. The $1 costs said, “” All I ever did was to go to church, most likely to.
church, and most likely to church.”” A hundred buck expense.
What ' s a church. Make a lot more so you can offer much more, versus everyone placing a.
couple pair bucks the damn hat.What if you could make enough adequateCash you could donate give away even more cash the whole damn church together? Believe about it.
if I put effort right into it. Can I come to be a millionaire as well? I actually wish to become,.
no, a billionaire. She stated: Can I end up being a billionaire if I strive enough and put my initiative and strive for it? As well as right here'' s what she responded, she supplied some guidance: Change your focus far from what you desire, a billion bucks, and also.
obtain deeply, intensely curious concerning what the.
world wants as well as needs. Ask on your own what you have.
the prospective to supply that is so unique and also.
engaging as well as helpful that no computer can change you, nobody might outsource you, no one can take your product and make it much better and afterwards club you into.
oblivion, not actually, after that create that.
One thing. When you come to be a master.
of two globes say, engineering and also organization,.
you can bring them with each other in such a way that will certainly present hot ideas to every other, so they can have suggestion sex and make idea.
babies that no one else has actually seen prior to. And B,.
create a competitive advantage because you can move between the worlds, speak both languages, attach the people, mash the aspects to stimulate.
fresh, innovative understanding till you awaken with the.
revelation that transforms your life. The globe doesn'' t throw a.
billion dollars at a person since the individual desires.
The globe does not care. What'' s the word? The globe provides you money in exchange for something it views to be.
of equal or better value. Something that transforms.
an aspect of the culture, remodels a familiar tale.
or introduce a new one, alters the way people.
consider the category as well as use it in daily life.There '
s no road map,.
no blueprint for this. A whole lot of individuals will.
give you a great deal of guidance and the majority of it will certainly be bad.
as well as a great deal of it will be great as well as audio, yet you will.
need to figure out exactly how it doesn'' t put on you.
because you are coming from an unanticipated angle and.
you will be doing it alone up until to you develop the.
charisma and also reliability to bring in the skill you.
require to find with you. Have guts, you will certainly require it. As well as excellent luck, you will certainly require that also.”” A round of applause. (crowd claps) That'' s one smart spouse. That basically sums all of it. That just virtually – When I read that post, I'' m like, like– It is so good. It is like, wow. Like, charm! My benefits. Envision if that ' s just how clever the other half is, Elon Musk, my goodness. There'' s a claiming behind.
Love'' s the secret. – Legislation of tourist attraction, yes? Below'' s what
the.
make your reality.”” Right? You become what you assume about. That'' s what the legislation
of. attraction speak about. – [Male] I had a roommate.
that read this publication. – Yes. – [Male] And also she thought that you simply claimed to believe as well as not do anything.
– Yes. – [Guy] As well as advantages will certainly come for her. – Yes, you just need to think.
And also not have to do anything as well as excellent things will certainly come to you. – [Guy] That'' s exactly how she discusses it. – That'' s it. You see, the number of of you have. come across Believe and also Grow Rich? The amount of have not listened to. of Believe and also Grow Rich? Go read it.
– [Man] Okay.
– Okay, by Napoleon Hillside. Notification that the title, state it with each other– Think–.
Not visualize and expand rich. Not kick back as well as do.
Not hope and expand abundant. It'' s assume. That'' s not what the publication is around.
And also there'' s a fantastic publication that I likewise like, The Millionaire Fastlane by MJ DeMarco. And there'' s so many. Assuming alone never made.
anybody rich unless their assuming materializes itself.
right into constant activity. What are the two keywords? [target market together] -.
Consistent action.What are the 2 essential words? 2 word application of. Range develops millionaires,.
size develops millionaires. What is scale? Volume. Quantity. You intend to make millions? Market millions of something. Magnitude, deepness, transection size. Market a 2 million buck thing,.
five million dollar thing, 10 million dollar point. You can likewise be a millionaire. Scale and also magnitude together.
develops billionaires. You backtrack the resource.
of millionaire cash and you will discover numerous something. To make it straightforward and short, you intend to make.
It'' s very straightforward. You'' re not making the money that you want? Look at exactly how lots of people you'' re affecting.
you deliver in a marketplace.Tough to be a millionaire doing that, yes? As a business owner, if. you ' re giving a solution, you ' re only dealing with– Unless you have a great deal of. magnitude, bill a lot of cash, then it ' s difficult to be a millionaire. You believe in regards to you offer something, you sell to countless people. Yes, that ' s just how you arrive. Retrace the source of millionaire money as well as you'' ll locate millions of something. Fail to remember the legislation of tourist attraction,.
the law of love. The regulation of what? Affection. The amount of individuals do you influence states the more lives.
you influence in an entity that you regulate in range or in size, the richer you will end up being. The law of affection. See if you have something that are influencing numerous people. You can have a lack of confidence. You will make millions. Are there individuals making millions.
that'' s an absolute jerk.Anybody solution concern. Are there individuals making. millions they ' re the nicest people you have ever met? Money does not care. Money doesn'' t have a principles. It doesn'' t have an ethical. You'' re an evildoer, I'' m. not gon na let you'have me. Or you ' re
a great person, I ' m. gon na let you have some even more.
There are some of the nicest,. kindest individuals that I understand, entirely broke. There are also individuals.
It'' s nothing to do with each other, mmkay? Prior to I go right into that, take 2 mins. The first one, as well as the.
Go.
( Calle Ocho)”” by Pitbull Shake their hand and also say.
“” thanks for sharing”” please. (Audience murmuring) So show me, simply shout out the answer a-ha minutes, what it indicates to you simply the very first 2 concepts. What it suggests for you.
[Man] I think for me, comprehending that money is a circulation- – Blood circulation [Guy] – It'' s like flow. It helps with my financial investment purchasing, say the only.
way I'' m mosting likely to generate income is if I offer it, as well as, yeah, that'' s just exactly how I recognize it.- Sometimes you assume.
concerning it with economic situation what causes economic situation recession,.
it'' s a lack of -what? A lack of circulation. You.
hear it from the government. If you wish to help the.
economic climate from the U.S. You intend to assist the economic situation,.
Currently am I saying you wear'' t. desire to save any cash? You got ta go through that stage. When you save enough, you want to spend, you want to increase, yet.
you got ta master making it. You'' re efficient it. Perhaps for some of you it'' s tough to think. Making it is actually pretty damn very easy. If you'' re really great- simply take my word, making it.
You'' re. Money comes.
Way, method harder. Go to the mike guy,.
Give Earl a round of applause. (audience applauds) Give like a one min version of it- what the heck occurred. – Hi Earl.
you desire the longer variation, I'' m doing a longer variation on the 23rd.
I inform the story of exactly how.
I made a number of money so I made a 40 million dollar realm. And afterwards I screwed up and also I lost it all. 2008 struck me even more than it.
And also really, it'' s amusing. One of those things you talked concerning- number 3, right, not worthy- it'' s amusing, I sent you an email.
as well as I was in that stage not feeling, not worthwhile- right, I mean I made a million dollars, it'' s very easy to do. In fact the funny point.
is, Dan picked me up. He stated, you don'' t have. to strike a particular level to deal with me once again. It wasn'' t a question of merit. You'' re my friend, I wish to.
assist you anyway, let'' s do this. As well as, the amusing point is.
when I ultimately chose to leave my butt, 60 days, 6 figures. Six months, 7 numbers. I report back to Dan each week.
“” hey this is what I'' m doing” and the initial pair updates were attractive, “” hey check out this, appearance.
at this, look at this”” the last pair updates, not.
You can make it. Making it is stupid simple.
as well as I'' m making a lot more sales now than I was when I was marketing. So, the sales and also advertising and marketing.
fuction? Yeah, 100 percent. But keeping it is a bitch. – [Dan] I such as that quote, “” Making it is very easy,.
maintaining it is a bitch.”” that'' s truly, you ' re writing. this down? That ' s great. [Audience Praises] Place that on Facebook. I.
like that. Tweet that. – [Announcer] Ten times your financial resources. Ten times your organization. Ten times your advertising. Ten times your life. Hit the subscribe switch now.
Dave Ramsey’s Retirement Planning Advice Is Flawed: Here is How
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
Dave Ramsey is wonderful if you are requiring some.
basic financial aid to leave financial obligation perhaps you'' ve been careless with your cash you''
ve. racked up harmful Consumer Financial debt and also you'' re looking to carry out some fundamental methods to remove.
that debt as well as to produce new behaviors for yourself when it pertains to your cash Dave has affected.
numerous people when it involves venturing out of debt when it comes to recognizing cash on a.
very standard level uh in a far better means the challenge is what has actually happened is Dave has aided millions.
of people leave financial debt and in that process he'' s built a whole lot of depend on up with that said individuals therefore.
then as a result they start listening to him for retirement advice for planning for the retirement.
future and in this video clip what I'' m going to do is I ' m going to cover the imperfection the significant flaw that.
remains in Dave Ramsey'' s retired life strategies I ' m not gon na argue whether he'' s appropriate or wrong.
concerning returns but I am mosting likely to mention the large flaw that most individuals are missing out on that.
he never ever talks regarding can'' t wait to enter into it if you sanctuary'' t already make certain you subscribe and.
hit the Bell this way you'' re informed every time I release a brand-new video clip Let'' s Go hi what ' s going. on cash money flow cyberpunks it'' s Chris with life 180. if you'' ve been viewing this channel a while you.
recognize exactly how I feel about Dave Ramsey however I desire to type of take the discussion concerning Dave to.
a bit of a different degree in this video um below'' s the bargain Dave is truly good when it. helps you when it concerns helping you get out of financial obligation yet his recommendations on retired life preparation.
is is definitely in my opinion shocking one of the greatest difficulties that I have regarding Dave and also.
his approaches is that he'' s been singing the same tune for 30 years right he has actually not changed his.
approaches his techniques he hasn'' t truly also transformed the numbers that he uses when it pertains to.
retirement planning and also the expectations that you ought to have around your whole your retirement.
preparing although the financial atmosphere has altered metamorphically right so if you.
understand that there are variables that affect your money and also influence what you can expect in.
retirement you need to recognize that there are no simple regulations that Dave tries to inform you like.
Dave tries to tell you to follow to perform currently I will certainly say that you understand the advice Dave provides.
is like it'' s much better than absolutely nothing like that I will certainly state it'' s better than not doing anything and it'' s better.
than what lots of people do yet I additionally think that it'' s it ' s an issue that if you follow his advice. expecting a particular result and after that you reach the end of the rainbow as well as there'' s no pot of gold and.
you'' re actually not anywhere near you where you believed you'' d be that ' s going to be an issue as soon as. once again we ' re not talking regarding the financial obligation elimination stuff we'' re speaking regarding which incidentally is a.
sensational thing to comprehend that as well as go out of financial debt thus from that point of view I applaud.
him currently moving on when we'' re chatting regarding wealth creation that'' s where he drops
when. it involves retirement planning what I did is I built a spread sheet since I assume numbers state.
a million words spread sheet you recognize we can go via this and what I'' m mosting likely to do is I ' m going.
to share this so below'' s what I intended to do here I wanted to take a look at a family revenue.
of about a hundred thousand dollars in today'' s money I intend to save 15 of that earnings annually.
I'' m mosting likely to presume an expected return of 10 per year all right so what this does resembles Dave is going.
to sit here as well as speak about the fact that you need to save money based on retired life you need to to.
Target pension values based on your hundred thousand bucks a year of income the.
difficulty is Dave doesn'' t take into this right into account'when he ' s ever before talking regarding'it I put on'' t. know why either I wear ' t recognize why if he if he believes people just aren ' t smart enough to number.
it out but to me this is simply basic Financial stuff that you need to know the understanding.
of you need to recognize to be able to make an educated decision if you don'' t recognize just how in.
inflation effects your monetary demands lengthy term you'' re never going to have the ability to make a great.
economic choice and also particularly that we'' re in this environment now where inflation is.
4.9 percent in 2015 it was over 9 percent long-term because 1971 inflation has actually mored than.
4 percent really nearing 4 and a fifty percent percent so like from that viewpoint looking at.
it from a long-lasting historical standard this 4.9 rising cost of living setting that we'' re in now that
. everyone ' s freaking out around is not even high it'' s just a little bit above average currently a great deal of.
people would certainly argue that rising cost of living is really way even worse than what we'' re speaking about today.
due to the fact that the real effect on the estimation of rising cost of living uh the the impact is is a lot higher as well as.
worse on specific houses uh than what the estimation claims because they'' ve in fact changed
. the computation over the previous 40 years on exactly how they identify the rising cost of living numbers which to me is.
Wrongdoer by itself yet here'' s the offer we have uh we have the hundred thousand dollars of revenue so. what I have more than here is I have um the retired life account balance required to live with a four percent.
guideline so if you wear'' t know what the 4 percent rule is it ' s the guideline that
claims you can. distribute 4 percent of your pension value as well as not run a significant risk of running.
out of money throughout your lifetime so that is like the safe distribution estimation expectation so.
what this is showing is that if you had a hundred thousand bucks of revenue you require 2.6 million.
bucks um in fact it'' s a hundred four thousand I didn'' t do it for year one if you get to year two.
as well as um you understand your real requirement on four percent inflation is mosting likely to be a hundred four thousand.
since your cost of dealing with rising cost of living going up it indicates you'' re going to require even more money. it needs your hundred 4 thousand bucks following year with four percent inflation is gon na. seem like a hundred thousand dollars of income Fields today the challenge is home income.
historically is only going up in concerning three percent so it'' s lagging actual rising cost of living and this.
is why the center class and also the bad are getting poor as well as there'' s this expanding divide between the.
well-off and also the middle course it'' s not so much other financial policies also though that has a.
have fun with it long-lasting rising cost of living is the best tax obligation that is hidden to the American populace and also.
it has a widely adverse influence uh on the middle course and lower class one of the most right so eventually.
this column is what I would certainly call your freedom number your flexibility number is just the amount.
of money that you require in an account to be able to retire to be able to be totally monetarily.
cost-free and so now make use of utilizing conventional four percent policy technique and currently I'' m not taking.
into account Social Protection or pension plan or anything of that nature so if in fact you did.
have a pension plan if actually you wish to lean on social safety and security for any factor you'' d need to look
. at your estimation and decrease those off of this number and afterwards you separate that by four percent.
which will give you uh this number so if you stated allow'' s say you had fifty 4 thousand dollars.
of pension plan and also social security you'' d subtract that out that'' d be fifty thousand divided by uh split. by the uh 4 percent which would get you what your uh Flexibility number would certainly be it would tell you.
just how much money you need in that account to be able to start passive income for you for the remainder.
of your life currently below'' s the challenge as I stated house revenue is just going up at 3 percent.
as well as Dave is saying hey you require to save 15 even if we earn 10 which is incidentally extremely unrealistic.
I'' m showing this at at 10 and it shows you at 6.561 million right here however actually that'' s because. of the truth that it ' s thinking that you'' re going to have a 281 thousand buck uh need for yearly.
revenue currently here'' s the deal your income is going up at 3 percent per year that 283 35 years.
from currently since I'' m thinking it ' s a 35 years of age
retiring at 65. Dave'doesn ' t talk about the reality. that if you make 100 Grand today you'' re mosting likely to require 281 to be able to preserve your standard.
of living that'' s not 281 000 in today ' s cash that'' s 281 000 in future cash right I simply did.
a video the other day speaking about uh rising cost of living and the inflation dilemma and also ultimately how that'' s. going to impact you um and and just how that'' s like the background of this inflation as well as and where it looks.
what it looks like relocating forward right into the future um but this 281 incidentally is presuming just.
a three percent boost at a 4 percent historical average of rising cost of living if we check out.
it that method you'' re going to in fact require 394 000 and also if you back that out you'' re going to need.
9 million 865 000 and the issue is every one of your Social Safety and security expense of living changes price.
of living boosts they wear'' t keep up with the real price of inflation so the demand for you.
to take even more responsibility for your retired life planning is becoming higher and greater and also.
higher and as as inflation maintains increasing this is a means if you consider it from a social safety.
point of view this is a way that the federal government'' s able to type of conserve Social Security if they.
can pump up the currency of four percent and decrease the value of the money but after that just offer you set you back.
of living modifications at two percent that implies they'' re recapturing that money and saving the.
program merely by the way they'' re doing that however eventually they'' re taking that cash from you.
with a covert tax obligation the trouble is Dave doesn'' t discuss all this and what he does is he talks.
regarding your need for this cash he discusses saving a million bucks and I got information for you.
you might save 3 million dollars and also if you get to uh retired life and also you have 3 million.
bucks however you need to reside on 281 000 a year you are going to be up the creek without a paddle.
you'' re not mosting likely to be prepared and also you ' re not going to be in a position um you understand eventually.
where you'' re you understand mosting likely to be able to uh have a a solid situation you recognize'that'' s that ' s. actually what it boils down to you ' re not mosting likely to have any kind of'sort of foreseeable earnings you ' re not. mosting likely to have any type of security uh you'recognize and also you ' re ultimately mosting likely to have a lot of threat specifically.
when it involves Market risk sequence of return risk and and simply Market volatility threat when.
it pertains to your retired life if you if you follow his strategy you'' re going to be under conserved when it.
pertains to retired life merely due to the fact that you didn'' t provide enough reliability to the impact that rising cost of living.
is going to have on your future requirements due to the fact that think of it this way every little thing I simply showed.
you was a 10 presumption I could reveal you a lot of methods that 10 is entirely impractical especially.
when you discuss actual genuine returns I would certainly claim six to 8 percent is is the a lot more reasonable.
assumption and also then there'' s some threat involved right so if we if we back that out what.
what that would certainly look like at even 8 percent which is I believe the more I presume traditional.
technique that a lot of financial experts would certainly claim you could obtain from a long-term perspective if.
you take a look at 8 percent you'' re just going to have just over four million dollars that'' s concerning. at retired life 35 years from currently for a 30 year old right when you struck 65 so because situation you''
re. still looking at just accumulating concerning fifty percent of the cash that you'' re going to need simply to. maintain your criterion of living I wear'' t treatment just how much you have in Social Safety and security or pension. it'' s possibly not mosting likely to make up that Gap and also you'' re mosting likely to need to take a decrease in. standard of living even if you follow his suggestions and also have no car payment and also have no home loan or.
anything like that it that that doesn'' t matter that that'' s not gon na make up for the Space that in.
inflation has caused for an issue for you therefore that'' s something that you require to consider so my.
motivation to you is to go with your plan identify what inflation is going to do to your.
retired life preparation demands and also if you desire help with this I'' ve obtained a team I ' ve obtained a certified. financial organizer on the group that'' s delighted to stroll with this give you a consultation stroll via.
your demands go through your current plan as well as and provide you an evaluation and an assessment on what you.
require to do moving onward to reach your objectives on a foreseeable basis among the things I always.
ask I always ask individuals 4 concerns initial and also leading doing what you'' re presently doing do you.
recognize what price of return your cash needs to gain to be able to retire when you desire and also assure.
your standard of living for the remainder of your life if you wear'' t know the solution to that inquiry after that.
whatever else is going to explode you can'' t plan as necessary if you put on'' t recognize the answer to. that concern second inquiry is if you if you put on'' t know that number the question is do you recognize.
just how much even more cash you have to conserve to be able to retire at your desired standard of life as well as.
have the ability to retire when you desire and also if you wear'' t know the solution to that which many people wear'' t. I ' ve actually satisfied one individual in my life that really understood those numbers in advance then.
you draw back it out as well as go fine just how much longer are you mosting likely to have to function if you obtain.
to old age and you sanctuary'' t satisfied that and you still require to function well a lot of individuals they have.
to work an added decade just to make it make ends fulfill right individuals are thinking they'' re going to be. able to retire at 65 but they need to function till 75 or 77 or 78 it'' s it ' s really simply a sad situation.
After that the difficulties our health a great deal of times often sadly unfortunately fails on us we put on'' t. when you'struck 65 there'' s no there'' s no assurances there'' s no warranties heck there ' s no warranties. anyway yet especially when you hit 65 our health and wellness begins to fall short like and for many Americans most.
people in this world Health starts to decrease at least and there'' s start to be various needs our.
bodies damage down perhaps your body isn'' t going to be as with the ability of doing the job that you provided for.
all those years to gain your earnings and also so now you have to begin being like even if I intended to.
maintain functioning what is my actual making potential am I really going to maintain having the ability to do that or.
if I get ill what type of decrease in requirement of living am I going to have to take just to be.
able to last the remainder of my life as well as not go out of money right therefore these are things that.
you require to think about if you place'' t currently like I would motivate you to actually do a deep dive.
because my preferred favored quote worldwide I assume as well as it'' s sort of tongue-in-cheek however just.
since the ostrich buries his head in the sand doesn'' t indicate the Lion ' s Den or plans have changed.
This this is your trouble this retirement thing is a real trouble it'' s a it ' s a thing that
. you require to determine a service to and you require to produce a prepare for like Dave goes to assisting.
you leave financial debt he'' s not excellent at assisting you prepare for your future and also as well as his his.
info while it seems terrific since it'' s kind of tailored in the direction of the masses it'' s really in my.
viewpoint it'' s it ' s extremely harmful to lots of people that are listening to them due to the fact that you'' re going to. obtain to the end of the rainbow there ' s a mosting likely to be no pot of gold you'' re mosting likely to figure out you obtained.
to function longer if you'' re healthy and balanced enough to do so or you'' re going to have to reduce your standard.
of living since you didn'' t take some of these variables into factor to consider so anyhow with any luck.
you found worth because if you did please like it share it get it available to people subscribe.
hit the Bell that way you'' re notified every time I introduce a new video until following time have a.
honored motivational day we'' ll talk soon see you.
Then the difficulties our health and wellness a great deal of times sometimes regretfully regrettably stops working on us we wear'' t.
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