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3 Legged Stool of Retirement Planning: Social Security Plan / Pension Plan / Investment Plan

– One of the most fundamental concepts in retirement planning is the concept of the three-legged stool. We're gonna get into that in this video. (upbeat music) So what is this three-legged stool? Maybe you've heard about
it, maybe you haven't, but just go ahead and
imagine a three-legged stool. Now, for a three-legged stool to work, it's not a four-legged stool,
it's a three-legged stool, for it to work, every one of those legs has to be perfectly aligned. If you shorten one, what's gonna happen? You're gonna tip over, right? If you make one too long,
you're gonna tip over. Same thing goes for retirement planning. And what the three-legged stool is is three different things.

Leg number one is Social Security, and almost everyone has
it in the United States. There's a few pension plans
that made you opt out, but, for the most part, almost everyone has that first leg. And there's a lot of people
who don't have the other two, which makes retirement a little tricky. But the first leg is Social Security. A lot of times, people say, okay, yeah, I know about Social Security, I can take it at 62 or 66 or 70 or whenever it is. Well, yes and no, because it depends, when you should take your Social Security depends on a few different factors. And we've done some
videos on Social Security, and we're gonna go ahead
and link it up here. So if you wanna find out
when you should take it, you can go ahead and click that. But it also depends on the other two legs. The second leg is guaranteed income. And traditionally, the guaranteed
income came from pensions.

Well, as you know, not many people today have pensions. Back in the 50s and 60s and 70s pensions were very common to have. Now, they've become less and less common. Why? Because people are living too long. And because they're living so long, that's what can hurt a
pension plan, longevity. And because not many
people have a pension plan, sometimes they'll look for other forms of guaranteed income. Some people will use annuities, some people will use life insurance, some people will use some type of guaranteed CD or something like that. But they'll use that as
their guaranteed second leg. And the third and last
leg is retirement savings. So this will typically come from IRAs or 401(k)'s, or just money that you've saved up throughout your life towards retirement.

And so that leg is pretty
commonly neglected. People say, well, I've done
a really good job at saving, or I've earned a lot of money, or my interest rate is really good. And they think that that's
all they need for that leg, but that's not true. That leg is the most
important part to adjust based on where the other two legs are. So my recommendation is take a look, and you wanna make sure that your pension leg, your Social Security leg, and your retirement asset leg all match up so you have a
balanced three-legged stool.

A lot of financial advisors don't really talk about the other two because they don't really
get paid on it, right? Most financial advisors get paid on the money that they manage, so the other two are more of a burden. But to have a true retirement plan, you need to make sure
that all of those line up. And sometimes the account that earns the most in your investments is not the one that will keep the rest of your plan balanced. So my recommendation is, if you haven't looked at how all three of those legs combine, look for a financial advisor, and say I want the three-legged stool, and figure out how that fits
in to your retirement plan.

Thank you so much for watching my video. If you wanna see more, you
can click here to subscribe, or you can click right here for a video that YouTube
will think is best for you. It's their algorithm,
don't blame me for it, but I hope you enjoy..

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10 Essential Tips for Successful Retirement Planning

Hello and welcome to our channel. 
Today we will be discussing the   top 10 tips for retirement planning.
Before we get started, it's important   to note that retirement planning is a personal 
journey and what works for one person may not   work for another. It's important to take the time 
to understand your own financial goals and needs,   and to seek the advice of a financial professional 
if you have any questions or concerns.
  As always, make sure to Like and 
subscribe to the channel to stay   up-to-date on all of the latest news.
Now, without further ado, let's dive   into our top 10 tips for retirement planning:
Number 1. Start saving early. The earlier you   start saving for retirement, the more time your 
money has to grow through compound interest.

Even   if you can only save a small amount each month, 
it's important to start as early as possible. By   starting early, you may be able to retire earlier 
or have more flexibility in your retirement plans.   It's also important to increase your savings 
over time as your income and expenses change.
  Number 2. Contribute to a 401(k) or 
other employer-sponsored retirement plan.   Many employers offer 401(k) plans or 
other retirement savings plans that   allow you to contribute a portion 
of your salary on a pre-tax basis.   This means that the money you contribute to your 
401(k) is not subject to income tax at the time   of contribution, which can help you save more for 
retirement. These plans often come with employer   matching contributions, which can be an excellent 
way to boost your retirement savings.

For example,   if your employer offers a 50% match on your 401(k) 
contributions up to 6% of your salary, and you   contribute 6%, your employer will also contribute 
3% of your salary to your 401(k). It's important   to contribute enough to your 401(k) to take full 
advantage of any employer matching contributions.
  Number 3. Consider a Traditional or Roth IRA. If 
you don't have access to an employer-sponsored   retirement plan, or if you want to save more 
for retirement on top of what you're already   saving through your employer plan, you may want 
to consider opening a Traditional IRA or a Roth   IRA.

These are both individual retirement accounts 
that allow you to save and invest for retirement   on your own. A Traditional IRA allows you to 
contribute on a pre-tax basis, similar to a   401(k), but the contributions are tax-deductible. 
A Roth IRA allows you to contribute after-tax   dollars, but the money grows tax-free and 
can be withdrawn tax-free in retirement. Both   Traditional and Roth IRAs have annual contribution 
limits, so it's important to be aware of these   limits when making your contributions.
Number 4. Diversify your investments.   It's important to diversify your investments in 
order to spread out your risk and potentially   increase your chances of earning a return. This 
can be done by investing in a mix of asset classes   such as stocks, bonds, and cash. Within each 
asset class, you can also diversify by investing   in a variety of individual securities such as 
different types of stocks or bonds. For example,   you could invest in large, medium, and small 
company stocks, as well as international stocks.   This type of diversification can help reduce the 
impact of market fluctuations on your portfolio.
  Number 5.

Understand your risk tolerance. 
Different investment strategies come with   different levels of risk, and it's important to 
understand your own risk tolerance when planning   for retirement. If you're not comfortable 
with a lot of risk, you may want to focus   on more conservative investments such 
as bonds or cash. On the other hand,   if you're willing to take on more risk, you may 
want to invest a larger portion of your portfolio   in stocks. It's important to find the right 
balance for your own situation and to review   your investment strategy regularly to ensure 
it aligns with your goals and risk tolerance.
  Number 6.

Rebalance your portfolio regularly. 
As you get closer to retirement, it may be a   good idea to rebalance your portfolio to be more 
conservative. This can help reduce the potential   for loss as you near retirement and need to 
start withdrawing from your savings. Rebalancing   involves selling some of your higher-risk 
investments and buying more conservative   investments in order to bring your portfolio back 
into alignment with your desired asset allocation.   For example, if you originally had a 60/40 
asset allocation (60% stocks, 40% bonds),   but the value of your stocks has increased 
significantly, you may want to sell some   of your stocks and buy more bonds in order to 
bring your portfolio back to a 60/40 allocation.   Rebalancing should be done on a regular 
basis, such as annually or every few years,   to ensure that your portfolio stays in 
line with your goals and risk tolerance.
  Number 7.

Consider working with a financial 
advisor. A financial advisor can help you   develop a retirement plan that aligns with 
your financial goals and needs. They can help   you understand your options and make informed 
decisions about your retirement savings. They   can also help you create a financial plan that 
takes into account your current and future income,   expenses, and debt. Working with a financial 
advisor can be especially helpful if you have a   complex financial situation or if you're not sure 
where to start with your retirement planning.
  Number 8.

Plan for healthcare expenses. Healthcare 
expenses can be a significant factor in retirement   planning, especially as you age. It's important to 
consider how you will pay for healthcare expenses   in retirement, whether that be through Medicare, a 
private insurance plan, or out-of-pocket expenses.   Medicare is a government-run health 
insurance program for those 65 and older,   but it does not cover all medical expenses. You 
may need to purchase additional coverage, such   as a Medigap policy or a Medicare Advantage plan, 
to fill the gaps in coverage. It's also important   to consider the potential costs of long-term care, 
such as nursing home or assisted living expenses.
  Number 9.

Think about your lifestyle in 
retirement. It's important to consider what your   lifestyle will be like in retirement and how much 
money you will need to sustain it. Will you want   to travel or pursue hobbies? Will you need to pay 
for housing or will you have a mortgage-free home?   Understanding your retirement lifestyle can help 
you plan for the amount of money you will need to   save. It's also important to consider how long you 
expect to live in retirement and whether you will   have any sources of income besides your retirement 
savings, such as a pension or part-time work.
  Number 10. Keep an eye on your retirement 
accounts. As you get closer to retirement,   it's important to regularly check in on your 
retirement accounts and make sure they are   on track to meet your goals.

This can help 
you identify any areas that need improvement   and make any necessary adjustments to your 
retirement plan. It's also a good idea to   review your investment strategy and make sure 
it's still appropriate for your situation.   If you're working with a financial advisor, 
they can help you with this review and   make any necessary changes to your plan.
Thank you for watching. We hope these tips   have been helpful as you plan for your retirement. 
Remember to consult with a financial professional   if you have any questions or concerns.
Make sure to Like and subscribe below to   stay up to date on all of the latest 
news. We will see you next time!.

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As promised, here is the second part of The Wealth of Nations, one of the most influential books ever written about economics If you haven't watched the first part yet I'd advise you to do that now, as some of the takeaways here build on those from the previous part Let's continue where we left last time … Takeaway number 6: Accumulation and employment of capital What's the similarity between Michael and a country like the US, China or Sweden? It is that they get wealthy in the same way Allow me to introduce The Swedish Investor's "Stairway to Money" All copyrighted and original content, of course Each different step represents a category that an individual can spend money on To become wealthy a person wants to spend money on the higher steps and not the lower ones At the bottom, we have services meant for consumption These are the worst things that you can spend your money on, as you'll consume them instantly Vacations, dinners and video on demand all belong to this category The next worst thing to direct your money towards is products meant for consumption Products depreciating value from the time of purchase, but at least they're not as bad as services because you will still be able to sell them at a later stage, even though it may only be at a fraction of their original value Cars, clothes and phones belong to this category Then we have products that do not depreciate in value and that often keep their value through inflation Important entries in this category are collectibles and a house to live in And at the top, we have investments This is a very broad category indeed, and anything which is expected to generate more cash in the future than the outlay of money is today, plus a reasonable return, belongs here Therefore – starting a business, educating yourself, investing in the stock market, or renting out properties all belong here It's the same with countries If a country buys services from another country, money flows right out from it without being replaced with something else that is valuable If a country buys products from another country, at least some of the value is still preserved as products can be sold again at a later stage It is similar with a third step in our Stairway to Money A country gets rich by increasing its own productivity by starting businesses there, by educating its people so that their skill and dexterity increases, or by buying productive assets from other countries BUT …

… and this is unimportant but Neither people nor nations should be afraid of having expenses just because of this Both people and nations, if they want to acquire wealth, should focus on what they are naturally good at and then outsource the rest This is what we shall focus on next Takeaway number 7: Globalization – the shortcut to increased wealth Here we have. Michael Lewis, a 32 years old engineer He's working at a job where he's paid a base monthly salary, but he's also compensated for overtime For overtime hours, he nets approximately $30 per hour Given this, here comes a few questions for you: Should michael cook his own food? Should michael clean his own house? And, sorry now i'm getting a bit silly just to prove a point here, should michael build his own phone instead of buying one from apple? From a wealth standpoint the answer is no to all of these questions It makes sense for Michael to do what he is best at, earning money from that and then hire other people to do what they are best at for everything else that he demands Perhaps Michael can cook his own food, but it takes him about an hour to prep a single meal, which means that he does so at a cost of $30, because he could have spent that time working as an engineer Therefore, it doesn't make sense for him to do it as he can just buy a meal outside for $15 Similarly, he can clean his own house, but it takes him 2 hours to do So that's $60 for Michael, while he can hire someone to do it for $40 And as an engineer, he is capable of building his own phone, but it might take him something like 200 hours plus $200 in materials That's a $6,200 phone! Why not just go buy the latest IPhone for $1,000? If it doesn't make sense to do something at 6 times the price it doesn't make sense to do so at 2 times the price, and probably not at 1.5 times the price either It is the same with nations For nations to increase their wealth, they should be focusing on the things that they are really good at, and then hire other nations to do what they are best at For example ..

The US is obviously a leader in many different businesses, but among others, in the fast food and entertainment industry China is incredible at producing most products at very low prices And in Sweden, we are quite good at producing furniture … … sorry, I mean at making everyone else produce furniture for themselves, of course Now, should Sweden try to produce the same products that China can produce much cheaper? No. Should China compete head-to-head with Hollywood? Probably not. Should the US have everyone produce furniture for themselves? Definitely not! All these countries can be more productive, and in that increase their wealth, by simply doing what they are best at, and then trade goods with each other Also, to make another comparison between individuals and countries in their quest for wealth: Both of them will earn more by having rich neighbors or acquaintances People know that if they want to be rich, they should move where other people are rich And probably even more importantly – they should acquire rich friends It's the same with nations A country should want their neighbors and trading partners to be wealthy, because eventually that wealth will spill over to them, too Just look at this map But we've been getting this backwards for centuries now In the 18th century, Great Britain and France, probably the two wealthiest countries in Europe at that time, did everything they could to make business miserable for each other instead of cooperating They even went to war with each other! Today, let's hope that the two most important economies of our time, the US and China, don't make that same mistake Takeaway number 8: Why free trade is superior, and why governments shouldn't interfere As we talked about in the previous video – in a capitalistic society, money will naturally flow where the returns are higher and disappear from where their returns are lower In a society where the government does not interfere, two rules will guide capital – Capital is naturally employed where it can produce the greatest returns This is actually a good thing, because businesses like these are more sustainable than anything else They will employ people where there is demand and a real competitive advantage – Capital is also naturally employed in the home market, as this comes with less risk This is also good, because it creates working opportunities in the own country For these two reasons, it is totally unproductive when governments interfere with the market Just as an imaginary example: Say that we, in Sweden, would do something as silly as setting up a ban on movies created in Hollywood What would happen when such a ban is introduced? Excluding potential retaliation, it will yield higher profits for the film industry in Sweden than what would naturally be the case Therefore, more capital will be incentivized to flow to this industry But this business still isn't competitive on a global scale.

Everywhere else than in Sweden, people will still watch movies from Hollywood! Moreover – the capital in Sweden which goes towards the creation of film is capital that could have been directed towards something where Sweden is competitive on a global scale, like the previously mentioned furniture Generally, politicians must have a small dose of God Complex if they think that they are smarter than the aggregated thinking of the market when it comes to capital allocation decisions in businesses There are two examples when it might be necessary to introduce duties, bans and tariffs though: – For goods that are important for the defense or survival of the country – And when a tax is imposed even on such domestically produced goods You don't want to shift the favor to the foreign goods, at the very least Apart from that, governments should probably stay away from using duties, bans and tariffs on foreign goods They should not incentivize certain industries or disincentivize others, because the market is likely to do this very well on its own, thanks to the before mention two There are a few areas where a government is absolutely necessary for the wealth of a nation though, and that is what we shall cover in the next takeaway Takeaway number 9: What is the purpose of a government? According to Adam Smith, there are some tasks in a society that the market and private people have little or no interest in solving The four that Smith discusses are: – The defense of a country – The justice system – Some type of infrastructure – And basic education The defense of a country is absolutely necessary for its wealth to increase Interestingly enough, a country is more and more likely to be invaded the richer it is Or so it was in the old days at least ..

Consider the raids of Genghis Khan and his Mongolian savages of the much wealthiest cities of China Or how the vikings invaded many much more established societies in Europe The savages actually had the advantage at this time, as they were much more skilled fighters But that all changed with the invention of the firearms Firearms were expensive to make, and no matter how skilled an army of spears and bows were, it couldn't beat one equipped with firearms And so, the odds changed in the favor of the wealthy nations, who could afford these supreme weapons Anyways …

A nation must be able to defend itself to sustain its wealth And as this benefits everyone in a society, it does make sense that a government has the responsibility of this task Justice, is similarly an expense that benefits everyone in a society In the old days, justice was often exercised by those in power, but one can easily understand how such a system can be very corrupt It is essential that justice and power are separated. Otherwise – who should bring justice to those in command? Similarly, a justice system that is based on profits tend to be very corrupt too, so it doesn't lend itself well to the free markets It used to be like this too, everyone that wanted justice had to bring a gift to the judges As you can probably imagine, the person who brought the greatest gift tended to get a little bit more "justice" than everyone else … So to speak. Therefore, the task of bringing justice to its people should be paid for by a government But those that use the justice system often should probably pay extra for that Infrastructure, such as the most important roads and docks used for commerce of a country, is something that benefits everyone too But it doesn't invite the same conflict of interest as the justice system does, and should thereby often be held privately Infrastructure should be financed with revenue from the commerce which can be carried by means of it.

Because in this way, money will much more seldom be wasted on infrastructure projects Some infrastructure projects can be important without being profitable, but in that case they should often come with a local tax, not a national one Without some type of basic education being free and probably also mandatory, some of the country's inhabitants, those that are born into poverty, will most likely never learn how to read write or count Such inhabitants are unlikely to increase the productivity of a nation Therefore, we want to avoid that this happens A benefit such as learning to read, write and count benefits everyone and it should be one of the purposes of the government of making sure that this is done Takeaway number 10: How should a government be financed? So ..

With defense, justice, infrastructure and education, a publicly financed government seems to be the most fair and logical solution But there are many different options of financing something, and some are definitely better than others Here are 4 principles for creating good taxes: Equality Each person should contribute in proportion to his or her abilities and in proportion to the revenue which he earns under the protection of the state It is difficult to make sure that the wages, profits and rents (the three sources of income which we discussed in the previous video) are all taxed equally, but they should at the very least be taxed equally individually Certainty Time, quantity and manner of payment must always be clear This is probably the most important principle.

A little bit of uncertainty is worse than a great deal of inequality Uncertainty leads to the potential corruption of the tax gatherer Convenience Taxes should be due when the contributor is most likely to be able to pay The consumer pays whenever he consumes a service or product, and the wage earner should pay taxes as soon as he gets the wage, not at some other time when he might already have spent it all Efficiency A tax may never be more burdensome to the people than it is beneficial to the government For instance … – As few people as possible should be required for gathering the tax – A tax should never discourage industry – And the degree of visits and examinations of the people shouldn't make them feel oppressed With these 4 principles in mind, i'd like to ask you a question: Do you think that it is a good idea for a country to have a wealth tax? In other words, a tax which is in proportion to the total assets of private people. Please comment with your answer down below! Alright, that's it for Adam Smith's Wealth of Nations Here are two unusual recommendations for further watching from other channels: You can watch me doing the Navy Seal's screening test for eight hours, if you want to watch me in a lot of physical pain Or, you could watch this summary of 79 of my book summaries Cheers guys!

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The Untold Truth About Money: How to Build Wealth From Nothing.

Let this circle represent $1,000,000 This is what ten million dollars would look like This is what one hundred million dollars would look like and this is what 1 billion dollars would look like Jeff Bezos the founder of Amazon has a net worth of 117 times this number and then There's you You're probably working a job right now one that you got from the degree that you studied for in university you probably don't have much in savings your living expenses seem Ridiculously high you feel as though you're not paid enough You have credit card debt that needs taking care of maybe your student Studying for a degree that you ho can and your job that you hope can bring some good money You probably don't have any savings only a pesky student debt hanging above your head wealth getting rich That all seems like a distant dream.

How did they do it you ask yourself seeing all those millionaires billionaires Especially the ones who got there at such a young age It baffles you it makes you angry they got lucky they were born into well They cheated their way to that money doesn't make them honey as evil and you're not smart And I'm just unlucky those dreams you had of buying that mansion your favorite sports car paying off your mortgage traveling around the world They'll forever remain that way just dreams Nothing more nothing less. You come to the harsh realization. It's a rigged game It's been a rigged game from the start in you You're on the losing side of it But what if I told you you were wrong What if there was a way of getting there an actual equation to wealth a science behind the way money works What if you didn't have to abandon those dreams of paying off your parent's mortgage or traveling around the world? Would you call me a liar for saying so I promise that I'm not and by the end of this video? You'll understand there's a side to the coin that you're not being shown but I warn you the road is tough It's filled with struggle.

It's filled with ups and downs It will need swallowing some difficult roofs of the school system and society Haven't told you yet and let me be clear There are many of you who will not make it to the end of this road But for those of you that do at the end of this road lies wealth beyond what you thought you could attain at the end Of that road lies the freedom of never having to worry about money again so Are you with me? Still with me then let's not waste any more time What do you really think about money is this something you work for is it earned or is it inherited? Is it the root cause of all evil? Are you desperate to have more of it? Have you been chasing it? most of your life truth is most of what you think about money has been influenced by your upbringing and environment if you were born into a family that didn't have much money growing up then you're more inclined to believe that YouTube will not Grow up to have much money or perhaps you went on the complete opposite end and decided to make as much money as you can so that you will never be In that position again the fact that your school didn't teach you much about this subject Doesn't help things and because of this most of you are going to have false beliefs about money that aren't going to help you on This journey now stick with me here because we're gonna have to change the way you've been seeing money your whole life Hollywood has always had a habit of depicting the wealthy and rich as evil backstabbing entitled or corrupt individuals Question is have you bought into that stereotype a Recent report released by Wealth X showed that of the world's ultra wealthy those that had a net worth of 30 million or more 68 percent of them were self-made and it seems like every other study backs up this conclusion Warren Buffett self-made billionaire Howard Schultz born in poverty Oprah Winfrey born in poverty Jeff Bezos self-made billionaire Elon Musk self-made billionaire Sara Blakely self-made billionaire What is it that these people know that you'd on truth is your equation is all wrong here's the 2-dimensional equation that you've been taught money equals salary earned from a job past a certain point the prospect of getting a job Becomes the sole purpose of your education.

So what's wrong with that you ask? I'm gonna assume that if you're watching this you want to make money a lot of it and in a short amount of time as Possible if that is your goal. Then this equation for generating money will never get you there We all have a precious resource the most important resource for Hall And once it's gone There's no way of getting it back that resource is time in a standard job the amount of money you burn is Dependent on the amount of time you put into that job if you earned $20 an hour and worked 40 hours a week It would take you nearly 24 years to reach a total of 1 million dollars But that is without subtracting any taxes or any expenses that you will incur over 24 years and let's not forget that Inflation would make your 1 million dollars less valuable the reality.

Is that on a salary of $20 an hour? You can only really be a millionaire at an old age by living frugally and most of that precious Resource known as time has slipped through your fingers. You traded all that time for money and it wasn't even a substantial amount either So again you ask yourself. How is it then that there are self-made millionaires and billionaires that such young ages what makes them so different and the truth is They have a better equation than you they have a way of understanding money that you haven't quite grasped the earth Pay very close attention now stop chasing money in a capitalist society The rules of the game are as follows You are paid in proportion to the perceived value that you have and the people that perceive your value they are the market the Consumers of the economy the market is you your friends your family your neighbors Your country people complain that football players are overpaid, but for players to be paid millions There has to be a market for the football industry in the first place People have to see the value in football in the first place for them to want to spend money on matches and merchandise and if the market is a high demand for football Guess what happens to the players who are at the top of their game? They are paid generously for it It's not about how hard you work the cleaner that sweating and tiring himself out every day is paid far less than the accountant sitting behind a desk Why? because the market perceives the value of what the cleaner does to be far less than the accountant as harsh as it may sound the Cleaner can be replaced by anybody.

It isn't difficult to learn how to do his job And therefore the market will not pay him more than the accountant the guy who spent years studying numbers The guy who has saved his clients thousands on their taxes But even so we just discussed how getting a job is in the right equation to amassing a great amount of wealth in a shorter Period of time so then how can we increase or perceived value? What is it about people like Elon Musk or Jeff Bezos? That makes their perceived value so high the first step to this equation of wealth is quite simple if you want money solve problems if you take a second to digest this statement you Realize that just about all money runs from this basic premise if it solves a problem Money will be thrown at it If it's a million-dollar problem, then the solution will make you Millions If it's a billion dollar problem Then the solution will make you billions think about all the problems that our site like Amazon solves the hassle of going to a store that hassle of having to wait weeks for a delivery cheaper prices and so on not to Mention all the other companies that Amazon bones and the problems that those companies solve Jeff Bezos helped solve a billion-dollar problem and also awarded favorably for doing so If you've been chasing money, then you've been doing it all wrong It sounds almost paradoxical but if you want money It isn't money that you should be looking for you should be looking for problems and more importantly Solutions to those problems and once you found that solution make a business around it Wait, so that's it Just solve problems and money will appear so I'm gonna have to create the next Amazon for me to be rich or the next Facebook Or Google you've got to be kidding me, right? I don't even know how to code I don't even have the money to start something of that scale I don't even hold on your wants more going into old patterns of thinking start with a problem always start with a problem Listen to the market around you What are people saying they don't like? What are people saying they wish existed? What are people saying frustrates them? What do people think is incredibly inconvenient? Is that a problem that you can solve and also is a problem that is worth solving The final step of this equation to wealth is finding a scalable solution to the problem your solution needs to affect a Magnitude of people starring a restaurant that's not scalable You're constrained to the local area and the footfall of that area but a franchise now, that's more scalable Is your solution a piece of software then that means once that software has been built you can scale it Infinitely online without needing to worry about things like production or shipping costs as it's all done virtually Good luck finding infinite scale with a job, but be careful does your solution require your time to generate money Let's say you were a yoga teacher that charged $100 per hour Congratulations, you only made yourself another job disguised as a business There's only a certain amount of lessons that you can feasibly do in one day And therefore your income is time-bound, but if you created an online yoga class that ran 24/7 with lessons you only had to create once now that is scaleable scaling your solution is critical here So do not get lost on this point automation also plays an important role systems and processes will keep your business running like a smooth machine if Implemented properly if there is something in your business that you can outsource to somebody else or hire an employee to do it for you Assuming it financially makes sense for you to do So then do it tasking yourself with everything is a bad thing as much as you may think you're the best There's someone out there that can do a better job than you once you've found a solution It's your job to make sure that solution can be accessed by everyone in your market It's not about your ego and it's not about what you're passionate about.

The market doesn't care about your passions So now that you have your profitable business running with the right systems and processes in place It's time to move on and reap what you sow There are two likely paths you're going to face at this point you either Continue your business or cash in and seller This is the acquisition the moment someone buys the solution that you spent years building a business around This is Instagram being acquired by Facebook for 1 billion. This is PayPal being sold to eBay for 1.5 billion of which 165 million went straight to Elon Musk's pocket and the countless other liquidation events that happen across the world This is where all the effort that you spend into building. Your company comes to fruition And if you choose to continue running your business, well, there's a multitude of reasons for you wanting to do So maybe you love the company that you built will want to stick with your baby Maybe you think you can add more value to the company and sell it down the line for more than it's currently worth Perhaps that business runs passively in the background so you don't have to do much to keep the wheels turning Or maybe it's a combination of these three things.

Either way you did it You solved a problem that the market wanted solving and it were awarded you favorably for doing so and so now I ask you what? Was it all for anyway? For most of you it was never about the money Money is just a piece of paper a number on a screen Its value is only backed up by our belief in its value From the very start this was never about the money Paying off the mortgage buying your dream car traveling around the world never having to worry about your financial situation It's the freedom that you were looking for.

Your destination wasn't anything monetary related It was a feeling a sensation The ability to do what you want whenever you wanted without ever having to cast the thought towards can I afford this have I used? Up all my holidays for the year. How am I going to pay the rent? Will I be able to live off my pension? What dreams will I have to sacrifice? Because I can't afford to pursue them the most important lesson from this video was never about the nature of money It was about the one valuable resource that we all have the one resource We will never be able to reclaim time Is giving up a large chunk of your time towards a job that you probably don't like worth it Is your life settled on working coming home watching the telly? Sleeping waking up the next day and repeating the same cycle till you retire How many more hours of your life do you let slip through because of this pattern? Or perhaps you're fine with that reality Perhaps you have no other choice but to follow that path for the time being and if that's the case There's nothing to worry about the most you got from this video was a little entertainment and maybe a change in perspective but there are those of you that understand the other side those of you that have the desire to Never need to worry about money ever again.

And so I feel the need to remind you Stop chasing money chase problems and find the solution to those problems This is the equation through which all money is found if you desire Liberty through never needing to worry about money ever again Then let's solving problems be the meaningful struggle in your life Does it mean you'll be happy at the end of the road doesn't mean you'll feel fulfilled only you can answer that question But if your struggle is meaningful then perhaps it's worth pursuing And there is your equation to wealth Of course I missed out on a lot of intricacies in this video the topics of business money Entrepreneurship are far too vast for me to cover in a single video like this But if you do want to get started on this journey I do recommend you read the works of MJ DeMarco who heavily inspired me to create this video and it's also important to come back To an original point that I made at the start of this which is that most people will not succeed for various reasons But the most important part is failing Failing fast and moving on to the next thing and if you're out there doing something that isn't strictly related to a business But you want it to make money then asking yourself the question of what problems am I solving? Could lead you to find ways of better Monetizing whatever it is that you're doing and that also includes a job and a career if you can solve more problems and find more Solutions at your place of employment you have something that you can use to leverage a higher salary But I will end this all on the same message that I have repeated numerous times in this video Stop chasing money and start chasing solutions to problems Hey, you've arrived at the end of the video and thank you so much for watching, but don't click off just yet I do want to take the time to say thank you very much for watching to the end these things Take quite a few sleepless nights to research script film and edit So you can't imagine how much I really do appreciate your support if you genuinely Enjoyed this video then don't be shy hit the like button and if you disliked it hit the dislike Vaughn twice just to be sure And comment down below and let me know why my goal with this channel has been to create entertaining documentary style videos on business finance and life in general And if that sounds like something you'd be interested in and you'd want to tune in for more hit the subscribe on and hit that Notification belt make sure all your notifications are turned on both All of that being said, I hope you have a wonderful rest of the day as per usual.

My friends hand ahead salute You.

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When can I retire? | How much Retirement Corpus is enough?

Hello friends welcome to
yadnya investment academy. Today is friday. So today we will talk about
a financial planning topic. Today's topic is Related to retirement planning A very common question of you all that come Obviously this all knows. Retirement is a very important goal. If we talk about financial goals. Mostly it should be. Mostly when i do financial planning So many persons financial
planning i have done personally Then in that comes. Retirement is a very important goal. In which we need a lot of money Nowadays early retirement is occurring. FIRE environment talks are occurring. Financial free retire early In such things When retirement comes in goal One important thing comes How much money do I need? Tell me this much money is enough. Then I can retire. That is a normal question. For this we have already
developed an interesting calculator but that was before pay wall. Now we have removed that from pay wall because it is very useful calculator. So a retirement calculator we have made. In that with so many
permutations combinations We can get an idea This much retire corps I need.

If I reach here then I have done well. I am at least financially free. Now I have to retire. We have to work further or not. Then it is my decision. If above that. Now I am just sharing my screen. Now you will see here You will go on investyadnya website There is a section named
tracker and calculator. In this there is a retirement calculator. Open this Now here we have to fill information. Suppose i am putting age of 30. You have to retire suppose on 60. Suppose we took an
example i have to retire on 60. Life expectancy we mostly suggest We should keep 90, 95, 100. With a conservative estimate If you keep 100 then it is very
good conservative estimate.

If you want to take optimistic If you took practical then it should be 90. Suppose i am putting here 95. Fourth information is our Current annual expense When we do retirement calculation Obvious we took assumptions. One assumption is this the
expense i am doing today Suppose when i retire Then also my expenses should be like this. Means my lifestyle of now remain maintained Neither i increase nor decrease. Suppose I am spending 50k per month today. The expenses that are occurring. After retirement I will do the same expenses. After retirement expenses can reduce. It can be your house if
you are living now on rent. It can be so much rental expense. That can reduce. Now your children's expenses are so much. They will reduce at that time. Sometimes after retirement
expenses increase. Like vacation expenses mostly increases. Sometimes medical expenses increase. Some expenses have increased. Mostly as an advisor If we took a general advice then we say.

Keep the same expenses as they are now. Don't do much changes in that. Some increases some decreases. For example if we want
to do a simple calculation Then considering to current expenses Suppose my expense is 50,000 The profile we are taking has
expnses of 50,000 per month. Then it is 6 lakh rupees per year. You have to put today's expenses. You don't have to put off retirement age. That's all it will insert. Inflation number How much inflation number we have to take? 7% inflation is mostly suggested by India. If you want to be conservative
then you can take 8%. If you want to be aggressive
then you can take 5-6%. Inflation you should calculate by your own. Every year how my expenses are increasing? If you know little bit idea about that These things are increasing
according to my expenses. Edcuation expenses children's fees It increases almost 8-10% every year. Rentals mostly 10%. Landlords mostly increases rent by 10%. My personal inflation is 8, 9-10%. You take according to your. So for calculation here
I am taking 7% inflation.

Then return on investment. On the basis of return on investment. How much is my return on investment? Before retirement and after retirement. Now I am retiring at 60. At 30 I am starting investing. How much should I invest for that? How much retirement corpus I will get? The reason I am investing now. On that how much return should I expect? It depends where you are investing. If you feel I will invest
mostly in equity markets. Retirement oriented because it is very long horizon. I am of 30 years and retiring at 60 years. Horizon is of 30 years. All that I am investing I will invest mostly on equity. Then we can take 11-12%
return on investment All that we will invest now. Or we kept in equity we can take that. If you feel This house is my retirement corpus This will increase according to that. Then on real estate the return
on expectations that remains. Basically there is round inflation of 7-8%. It depends on you if you have EPFO. That is a very big retirement corpus On EPF we get around 8%. According to that you have invested here.

Overall that you are investing Or you are planning This is for retirement
and I am going to invest. What are expected returns on that? Till 60. Pre retirement is retirement on investment. Suppose it is 12%. Whole the money I will put in equity. Then you took 12% return. Then post retirement my corpse will become. How much will it grow? Suppose I retire and I get corpus of 5 crores. Then 5 crore rupees Where will I invest? Again very difficult question If you are of 30 years then in 60 years.

This is very difficult. This is a very big assumption. We have to think that mostly at 60 our risk profile decreases. We will not take much equity allocation. Suppose now we have 60-70 equity allocation That time it becomes 20-30% or 40%. I go a little bit on conservative. I say to most of the people Take percentage equal to inflation I get return same as inflation. If I want to take. Then 0.5-1% extra. We took here 8%. Means 8% of post retirement. My corpus will grow 8% after that. Inflation will remain 7%. This is planning according to that. We will discuss these points later. Therefore I am doing all these zero. We inserted these things. What we say? Our retirement age, life expectancy. Our annual expense, inflation. These all are our compulsory fields. If i sumbit this now. Sorry some value needs to be inserted.

Randomly value we are inserting. So that it can work. If i sumbit this now. Then I need retirement
corpus of 14.6 crores. If you are of 30 years and you have to do expense of 50k per month. At today's value Today's 50k offcourse will not remain same at the time of retirement. They will increase with inflation. If you have to maintain today lifestyle The 50k expenses you are doing today Same you want to do at 60. After 30 years. This is the value after 30 years. Don't be so afraid. Today 14.5 crore is very much. After 30 years the value of 14.5 That should be arounf 70-80 lakh or 1 crore I am doing guess work. It will not be more than that. Think if I have 1 crore rupees today then I will be able to do for next 35 years. 60-95 years means 35 years 35k per month That to inflation to adjust it. I will get it consistently till 95 in 95 it will become zero. If i invest lumpsum then i can invest 50 lakhs.

Considering I don't have anything. If I have 50 lakh rupees I will invest it. For 30 years they will grow by 12%. Expected pre-retirement. Then also my retirement money will be done. Monthly Sip that I have to do That is around 50,000 in this. 48,000 rupees sip i need in this. What is the meaning of step up? I will tell this in next. If you have plan in 30 years 60 years. I have to do all these things. Then you have to do monthly sip of 48,000. To retire for next 30 years. Remember this is a monthly sip. It will not increase. Every year you have to do 48k consistently. Obviously our salary will increase in years Inflation increases salary increases. Now 48,000 will seem so big But after 3-5 years You will not feel big amount. That's what I am saying. In that our step up point comes. Now you will say I don't have 48,000 to invest. It is a very big amount. From where 48,000 will come. If we are spending 50,000 Then by saving 50,000 we
can invest in retirement corpus.

That is not possible. Then in that our second comes step up sip What is the meaning of step up sip? What is annual increase in our income? Can we increase sip every year? I cannot invest 48,000 now but from next year i can increase. If you think My annual increase in income. If inflation is of 7%. With 7% income should increase If we take seven With 7% it is increasing. We considered 7% inflation. Salary is also increasing by 7%. In worst case salary is not changing. With 7% there is increase in salary. Existing investment Do you have any investment now? That you think this is my retirement income From that also it will reduce. Suppose if you have EPFO ​​corpus Suppose of 5 lakh rupees. 5 lakh rupees i inserted here. This is my EPFO ​​of 5 lakh rupees.

I will use it for retirement. On that how much return I will get on EPFO? Return are 8% Then we consider we will get 8%. It is tax free means you will get 8% Suppose i have 5 lakh rupees On that i will get 8% more. Now let's do calculation again. Now since EPFO ​​arrived. From 48 it became 46. Retirement corpus remained same. So now we have to do Sip of 46,000. We can do step up sip of 24,000. We invested 24,000 rupees this month. Every year we increase that by 7%. From annual increase in income we have to do this annual increase in sip. Today you started sip of 24,300. Next year increased 7% on that. Then again in next year increase 7% on that Compounding 7%. Increase 7% every year Till the age of 60. Then also your goal will be achieved. Then you will have 14.6 crores rupees. Considering these were our rates of returns So it is very very good. You can apply so much
permutations and combinations on this. I have little more money than 24,000. I can do upto 35,000. Can I retire early? Then can I retire at 58? On 58 it will happen at 29,000.

I have 35,000. Can I retire at 55? Now your interesting calculation will start No you need 37,000 For retirement at 55. Early retirement you can take at 37,000. If i do 37,000 per year. I invest in such investments
that give me 12% every year. 7% increase i put minimum. If you think 7% increase is less. Consider growth of salary minimum 8-10%. Why not? Consider 10%. Then in Rs 28,000 you can retire at 55. Retirement corpus also reduced. As early you retire that much less corpus you will want. Value of money comes less. At that time its value will be more. At the age of 55 we need 11.6 crores. How much lump sum funding we need? How much monthly sip
and stepup sip we need? I considered 10% annual increase. Like this If you can do so many
permutations and combinations. You can plan yourself. When can I become financially free? I think this is very interesting calculator If you like as i am a conservative investor I am not taking 12% from whole equity. Suppose we take 9%. This we keep 10. The rate of return become 9% from 12%.

Obviously both the sip's will increase. You can do calculation according to that. Which type of investor is I am? If you think here is also 9
then it will change again. These things you can do so many permutations and combinations
based on your profile. You will get so much support and understand If I invest this much money For this much time Then I can go towards a better retirement. This is how you should work on these things. You can plan early retirement. You want to spend so much or not. 50,000 will not be sufficient. I want to increase my lifestyle. Now I am spending 50,000. But at that time I want to spend 75,000. Acc to that by using
permutation and combination What are my savings now? I can plan such investments or not. Then in those things you will get
so much help from these calculator..

Do check that on our website. If you have any comment If there are complications
then visit our website. Below is our email address and
whats app number is given. All things are written below. You can email us there
if you have any query. Below there is comment section also. Must write in comment section. Hit a like if you liked the video. If you think some knowledge is added Then hit a like Have a great time ahead friends Jai Hind

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Suze Orman Gets You Ready For Retirement | Money

I am the one and only Susie Orman, and my goal is to make you as independent from financial advisors as possible, because you are never going to be powerful in life until you are powerful over your own money. And my job is to make sure you can achieve just that. So rather than asking more from your money that it can't give you, you have to ask less of your spending habits from yourself which means you have got to get rid of all credit card debt. All debt. Total debt of car loans, mortgage debt, all debt that you have has to go. So one thing that you have to look at is if you have a debt, that is your sign that you can't afford to retire. Maybe you retire from the job that you currently have, but then you have to get some side hustles or something. So my best advice to you is start living below your means but within your needs.

How do you do that? From this day forward, every time you go to make a purchase, ask yourself a question, 'Is this a want or is this a need?'. If it's a want, please don't purchase it. If it's a need, you have to buy it. It's just that simple. You know, a lot of you, when you're approaching retirement, you look at your portfolio and usually your portfolio is this: you have a 401 9k), 403 (b), a Thrift savings plan if you work for the government or whatever, it may be, the military.

And now you've retired and now normally you would then do an IRA rollover with that money. But now you're 'Oh my God, what should I do? I never invest in money before, really. I've just put money in every single month into these mutual funds. And now I don't know what to do.'. If you are going to be withdrawing money from your retirement account to pay for your everyday expenses, you have to know that you have — ready for this, everybody — at least three years of expenses in cash, earning you a high interest rate or whatever the highest interest rate is that you can get.

The rest, at this point in time, should really be diversified into high-yield dividend-paying either stocks or exchange-traded funds. If you need really short term money and you want to get a higher interest rate for very short term money, right, I don't have a problem with bills. And, you know, I myself will put a serious sum of money protected in bills because if you're investing more than $250,000, then you really have to go to a variety of banks in order to get FDIC insurance — or even credit unions. So if you have a large sum of money of $1 – $3 million that you just want liquid, then I use Treasury bills for that. I don't have a problem with that at all. And they keep rolling over but I know that they're guaranteed by the taxing authority of the United States government. If we're talking now, though, about amounts that are $250,000 or below, I think that you're far better off, right here and right now, putting the money in a high-yielding savings account.

So for smaller amounts of money, savings account. For $250,000 or above that you want liquidity and the highest interest rate, I don't have a problem with Treasury bills. You don't have the documents in place today to protect your tomorrows. You don't have a will. You don't have a living revocable trust. You don't have an advance directive and durable power of attorney for health care. And you don't have a power of attorney for finances.

You need those things not just to make sure that your assets pass freely to your beneficiaries. You need those things for you. So here you are now and your spouse has died. Who, as you get older, who's going to write your checks for you? Who's going to pay your bills for you? If you get sick, you have an incapacity, who's going to do that? So it's very important that you get the documents that are correct. Long-term care insurance, if you can afford it, will absolutely protect your little nest egg if one of you ends up in a nursing home.

One out of three of you will spend some time in a nursing home after the age of 65. So look around and if you decide to buy long-term care insurance, the perfect age to buy it is really in your 50s. But here's the key. You better know that you can afford a long-term care insurance premium because they're not cheap. From the age of when you buy it all the way until at least 84 because it makes no sense for you to purchase it. Pay for it in your 50s, in your 60s. Now here you are in your mid 70s, you can't afford it anymore and then you drop it.

You're better off just not buying it at all. Let me just put it to you bluntly. You are to stay as far away from a reverse mortgage as you possibly can. There is not one situation out there where you should be getting a reverse mortgage. A reverse mortgage is based on the interest rates that are in effect right here and now. It's based on your age. And it just makes no sense. If you own a home and you can't afford to stay in that home — with real estate prices as high as they are — you could just sell your house right now and either seriously downsize, or there is nothing wrong with renting..

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Vanguard Group founder on how to manage your 401 (k) plan








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How to Retire Solo & Smart: Retirement Planning for Single Millennials, Gen-X, and Baby Boomers

hello and welcome I'm Catherine Bowie from Pure financial advisors and thank you for joining us for this webinar on navigating retirement solo with Allison alley cfp professional Allison how are you I'm great Catherine how are you I'm doing really well and thank you for doing this for us of course well let's get into navigating a solo retirement all right we're going to talk about a few things today but first and foremost frankly whether you're single or not right planning for retirement um is important right and do you know what you would do if you were trying to build your wealth alone more people than effort more people than ever are navigating getting to retirement on their own so let's talk about what that entails first things first how do you plan to spend your retirement right you have to look and say do I have enough savings is and then is your plan on track currently 56 of single workers are confident that they're going to be able to retire comfortably have you thought about when to collect your Social Security did you remember that you might have to pay for Private health care insurance right even if you reach Medicare age there's usually additional costs associated with that have you built that into your planning to get you ready for retirement um the the numbers are actually pretty pretty staggering but a single retiree could pay anywhere close to two hundred thousand dollars over three decades in retirement for health care costs right so it can be a big expense if you aren't ready for it and have you thought about your emergency funds and your estate planning right all aspects that factor into getting ready for retirement fifty percent of U.S adults are actually single I think that's probably higher than a lot of people realize so there's a lot of people out there planning for retirement by themselves and that can have an impact on your ability to put away money for retirement sixty percent of people that have never been married actually have no retirement savings at all or any savings um 35 of people that have been married at least once have no savings so they're a little bit better off right that's still a large number of people with no savings but right people that have never been married there's a larger percentage of those so it's something to really want to you really want to factor in let's talk about retirement accounts right given the inability to save it's not that surprising that a lot of people aren't on course for retirement when we look at the different Generations right we're going to break things down by Millennials Gen X and Baby Boomers and we look at the ownership rates by generation 50 of Millennials have retirement accounts a little bit better the little bit older you get 56 of Gen X currently ages 43 to 58 I should say Millennials are currently 27 to 42.

56 percent of Gen X has retirement accounts and a little bit better a little bit older Baby Boomers currently age 59 to 77 58 of baby boomers have retirement accounts so people are making a little bit more progress the older they get which is good but the earlier the better and we're going to talk about some strategies for that when we look at average account balances by ages people currently 65 plus the average retirement account balance is approximately 87 000. ages 56 to 64. it's actually a little bit better 89 000 is the average retirement account balance but then it starts to drop off right currently people aged 45 to 54 retirement account balance on average of a little over sixty one thousand people 35 to 44 current retirement account balance is only about thirty six thousand and then 25 to 34 only about fourteen thousand dollars in on average in retirement accounts and people currently age 25 and under or under 25 I should say a very minimal amount right less than less than a couple thousand dollars so lots of work to be done here for everybody and let's get into that let's start off with Millennials so again Millennials are currently age 27 to 42 and most people in this age range are still kind of in that gearing up maybe a little bit past quite starting out but building right so there's some kind of initial things you want to pay attention to first and foremost putting a budget in place right a Target is to have savings built up of at least three times your salary and maybe not at 27 but as you get through that next decade of your 30s that being the target to get to a level where your savings is at least three times salary you want a man to make sure you're managing debt and also start to focus more heavily on retirement account funding creating a budget first and foremost right so things are kind of broken out here into needs and wants right and this is looking at a 50 30 20 strategy fifty percent of your budget focusing on those needs right housing food utilities the must pay for items right so ideally you're looking at spending no more than fifty percent of your budget on those items I'm going to skip over here to the the far right hand side because this is frankly the next most important thing um 20 of your budget going towards building emergency funds starting to build towards retirement and build towards other goals that might be a home purchase or something like that right and then that leaves the remaining 30 percent for those wants clothing dining out vacations Etc and even though that we've got this 30 in the middle right that 50 and 20 those are those are your needs right that's those are the priorities if you were to allocate 30 sent to this middle section first you probably find yourself without the excess to start funding these things right so needs first wants seconds to really get you along the right path let's talk student loans right Millennials have a lot of student loan debt um 15 million Millennials have student loan debt into I should say 15 million dollars in student loan debt by Millennials the average student loan balance is about thirty three thousand dollars so getting starting to get that reined in is going to help you start to fund retirement fund goals emergency funds Etc if you have 33 000 in loans at currently five percent if you were paying two 350 a month it's going to take you 10 years to pay off that student loan debt and the interest associated with that is going to create your total payback being 42 000 if you could accelerate that somewhat and instead of making 350 a month just bump that to 418 a month it's going to do a couple of things number one it's going to cut two years off your payback it's going to take it from 10 years to eight years and the total amount is going to be forty thousand one hundred So You're Gonna Save about two thousand dollars in interest just by accelerating those student loan payments then what you could do with that money right if you're finished paying off your student loans and you could then take that same amount 418 a month and start putting it away towards retirement towards goals Etc and you were to earn an average of six percent rate of return on those dollars over 30 years that what was a student loan payment could turn into four hundred and twenty two thousand dollars right so it's really looking at the opportunity that's lost by not trying to get those debts paid down as quickly as possible because you can turn that monthly payment into a significant Nest Egg for the future in addition there is the ability from some employers a one a new rule was passed allowing employers to give a matching contribution to your 401k based on you making student loan payments so if you were putting at least two percent of your annual salary towards student loan payments employers are now allowed to make a contribution worth up to five percent of your salary towards your 401k basically the equivalent of a company matching contribution but it doesn't even require you making 401K contributions it's based on you making student loan payments so this is a great opportunity if you are in a situation where you have student loan debt if you're making your payments and your employer offers this option it would be great to take advantage of it right because you're paying down debt but still getting funding into your 401k by your employer as one of the benefits that some employees are now able to offer so it's worth looking into see if your employer plan offers this choice in addition to that just knowing the funding limits for various retirement accounts is important right if you are working and you have an employer sponsored 401K the employee contribution limit for 2023 is 22 500.

In addition if you have the cash flow to fund an IRA or a Roth IRA the current contribution limit for 2023 was bumped up this year to sixty five hundred dollars so initial ways to start getting money set aside for retirement all right let's transition into Gen X right a little bit older Gen X workers are currently age 43 to 58 and slightly higher savings targets now right so goal being that you've got your retirement savings up to at least six percent of your current excuse me six times your current salary and again maybe not at 43 but as you're transitioning through your 40s and your 50s that being the goal of getting that savings balance up to six times you're in your annual salary you also really want to be paying attention to your emergency fund right if you haven't already built that assessing where you're at compared to your ongoing expenses you want to be really trying to focus on maxing out 401K contributions as well as trying to get as much of your employer match as they're willing to give you and then taking a look at your retirement plans and making sure that you're you're utilizing options available when we talk about emergency savings right general rule of thumb is a goal of six to 12 months of your ongoing living expenses set aside in emergency funds more than half of people don't even have three months of their expenses set aside in emergency funds right 53 percent of Gen X has less than three percent excuse me three months of their expenses set aside um and that's low right you want to be able to withstand unexpected things right if there's expenses that come up or you were to get laid off or any number of other things that might cause you to need additional funds right that's the benefit of the emergency fund so that you're not in a situation where you have no choice but to tap retirement accounts that might have a penalty associated with it things like that right that's the value of the emerge of emergency funds if you aren't in a position where you've built up adequate emergency funds different ways to do it right if you just start setting a little bit aside here's kind of what that could look like in a couple of short years if you're able to put 25 a week away you could build that up to twenty six hundred dollars over two years if you're able to do a little bit more and if you if you could get fifty dollars set aside on a weekly basis right you'd have a little over five thousand dollars in just two years you could do 75 dollars a month right you could have close to eight thousand dollars in a couple of years so little by little is going to get you to where you want to go it's just chipping away at those goals in a manageable manner all right retirement account limits so the base limits are the same but now Gen X is approaching 50 if not over 50 so there's catch-up contributions involved so same base limit on a 401K of 22 500 but people 50 and over can do an additional 7 500.

So for 2023 30 000 is the maximum 401k contribution amount Roth Ira's traditional IRAs also have an additional ketchup amount involved so again that base contribution amount is 6 500 but if you're over 50 or over you can add an additional thousand with Roth IRAs and traditional IRAs there are Income limitations involved so you want to check what you're eligible for but if you're eligible and 50 and up 7 500 for 2023 is what you could put aside into a Roth or a traditional IRA in addition you really want to pay attention to your available employer match so in this example somebody's salary here is eighty thousand dollars and their employer is willing to match 50 of their 401K contributions up to six percent of their salary which means if you were to put in six percent your employer is going to match three percent and it makes sense to try to put in at least the amount into your 401k that is going to give you the maximum match that your employer is willing to give you but here's a few examples so in the top example the employee making 80 000 is putting away four percent so that's thirty two hundred dollars annually into their 401K fifty percent is two right so the employer is going to match two percent or sixteen hundred dollars so this person's getting forty eight hundred dollars a year into their 401K keep in mind if they're 50 and over they're allowed to put up to thirty thousand of personal contributions so this is obviously well below that but at least they're getting a little bit of the company match next example this person's putting away five percent so five percent of their eighty thousand dollar salary four thousand dollar annual contribution half of that that the employer is willing to match two and a half percent gives them an additional two thousand dollars so six thousand dollars a year is going into their 401k last example down here this is how they get the maximum amount right so this person's doing six percent or forty eight hundred dollars into their 401K the employer is giving their maximum allowed match of three percent so a total of seventy two hundred dollars is what this person's getting into the 401K so again the more you're willing to do the more matching you're going to get um all of these examples are still obviously well below the maximum allowable but at a minimum you want to put into your 401k what's going to get you the maximum amount that your employer is willing to give you into the account as well otherwise you're just missing out on free money so you want to get those up um if you're finding yourself off course let's go through a little bit of math all right so in this example this person's 47 years old planning to retire in 20 years at 67.

They are anticipating that in retirement they'll have fixed income of about 55 000 so that might be their social security income or some pension income or a combination of both but they're currently spending about eighty thousand dollars so 47 today want to retire in 20 years spending 80 000 today do you have to factor in inflation to see what you're going to need in retirement 20 years from now right so in this example we took that eighty thousand dollars inflated it at three percent annual inflation assumption over 20 years and that brings the spending need at age 67 to 144 000 which means if they want to be able to spend 144 000 and they're going to have fifty five thousand dollars coming in from pension or social security or whatever the shortfall is eighty nine thousand so that's your starting point right now you can figure out well what do I need to accumulate by the time I get to age 67 so that I can comfortably withdraw this shortfall from your assets that you've accumulated okay so here's a couple scenarios scenario one this person that's 47 has already accumulated about three hundred thousand dollars in their retirement accounts but they need to get to the amount that's going to be able to provide for this shortfall in order to figure out what that is you there's something called the the rule of four percent right a safe distribution rate is widely assumed to be about four percent what that means is that if you could keep what you're pulling from your own assets to four percent of those assets or less you could be fairly confident that with a globally Diversified portfolio a reasonable rate of return over time those assets will then last you 25 to 30 years so once you've calculated your shortfall you just take that number and divide it by four percent or multiply it by 25 the math is the same so in this example this person's Target would be 2.2 million dollars by the time they're age 67.

So that's what they would need to accumulate to then be able to sustain withdrawals of 89 000 when added to their fixed income would give them the amount of income they want to live on so again back to our examples the target is 2.2 scenario one this person's got three hundred thousand dollars but they've got 20 more years to get the to the 2.2 so what they would need to start saving to get there is thirty four thousand dollars a year right so that's a big number but if you break it down it might be manageable this again is assuming a a reasonable rate of return in a diversified portfolio over time scenario number two assumes that this person also 47 20 years to retirement but they've already accumulated six hundred thousand dollars towards that goal so their savings need is significantly less eight thousand dollars a year for the next 20 years to get them to that same 2.2 and this just reinforces the benefit of starting earlier right the earlier you start the more you can put away the more manageable those savings goals become over time so again pretty straightforward example but the goal is to say hey here's how old I am here's my years to retirement map out what you're spending now what's going to be coming in so that you can calculate your shortfall again multiply that by 25 or divide by four percent same thing gives you that accumulation goal and then you can back into your additional savings need on an annual basis between now and then to get you to that targeted goal all right let's yeah I was just gonna say Catherine do we have now that it was before we move on to Baby questions I'm not that I'd give you just a couple so the first one is just when you're referring to saving a percentage of your salary are you referring to gross salary or net salary after taxes and retirement contributions gross salary and then also uh you might be getting into this in the next section section but someone has asked about uh can you talk about the death of a spouse so that's why someone is uh unfortunately single now and so resulting in a change in tax brackets and you know what affects their Roth conversion strategies yeah absolutely and we will talk a little bit about it in the baby boomer section but um yeah if you are if you were married and your spouse passed away there are a bunch of things that change right like for example the tax brackets they basically get cut in half so you hit higher tax brackets at essentially half the amount of income so the sooner you can build retirement accounts especially things like tax-free Roth accounts right once you get into retirement you'll have more flexibility on where to pull income from because if you're going to have social security income and you've built you know 401K funds you're going to be paying tax on those income streams so if you could then supplement by pulling from roths which then don't continue to increase your tax situation that's just going to give you more flexibility and choice so yeah and in addition to Social Security strategies which we will talk about in the next section um you know whether you were married and are divorced or are widowed that will also have an impact on your choices when it comes to Social Security income okay we have a couple more questions but I'm going to let you go through the next section and then we'll you'll probably answer some of them okay perfect um so next Generation Baby Boomers So currently um well and here's a quick one before we get into the ages right so one thing to do and this does sort of relate to what Catherine what you were just asking about um but whether you were always single or were married and are divorced or your spouse passed away you want to make sure that you're updating various accounts right so if you have insurance policies and retirement accounts updating beneficiaries to whoever right whether it's children or other family members or friends or whatever it may be if you did if you do have a spouse that passed away that's key to make sure that something happens to you your assets go where you want them to go I've um in addition if you were married and and are now divorced removing former spouses from bank accounts again investment accounts retirement accounts Etc and then um you know closing or updating any joint accounts that were titled whether it was jointly or community property or whatever the case may have been to your individual registration in addition we don't really talk too much about Estate Planning in this today but estate planning things like You're updating your trust updating your will right should you get divorced or have a spouse pass making sure that those documents now reflect the change in your situation and your current wishes big big things to make sure you follow up on okay so baby boomers are currently age 59 to 77 and lots of these people are either very close to retirement or obviously already in retirement and so that savings goal is even higher right 10 percent 10 10 10 times your annual salary is that Target savings goal so that you and are sure that you've got the assets needed to sustain you into retirement you are going to start paying attention to Social Security strategies really paying attention to those catch-up contributions on 401ks and IRAs that we were talking about previously as well as paying attention to your overall Investment Portfolio and your asset allocation let's talk Social Security so most people's full retirement age currently is somewhere between age 66 and 67 but you can take Social Security as early as 62 or you could delay it as late as age 70.

There's trade-offs to all of this right the longer you wait to take it the more you get but the longer you go without taking your social security income and the more dependent you might be on your own assets depending on your retirement situation in this situation or in this example delaying from taking it early at 62 to 70 gives you a 77 percent increase in your benefit right so in this example this person's full retirement age is 67 and they are entitled to a thousand dollars a month of social security income if they were to start taking it at age 62 they would only get 700 a month right so that benefit gets reduced if they were to wait all the way from 67 to 70 that benefit would go from a thousand dollars to one thousand two hundred forty dollars so it's a pretty big increase and if you look at that entire eight year waiting period it's a 77 increase um so this is something that you want to factor in to that retirement planning right looking at well what other income sources do you have what's your asset level built to and when does it make the most sense for you to take social security income and it's going to be different for everybody in addition whether you were married before and are divorced or widowed there are some options here as well so Everyone's entitled to the higher of their own Social Security based on their own earnings record or 50 percent of their spouses whichever is higher that applies even if you get divorced as long as you were married at least 10 years you are at least 62 or older you're currently unmarried and your former spouse is entitled to Social Security if you have multiple ex spouses you would collect on again either your own benefit or the highest of your ex-spouses whichever of those amounts would be higher is what you'd be entitled to on the other side here if you are a Survivor so if your spouse passed away you're actually entitled to a hundred percent of their benefit if it's higher than your own benefit um but you have to either be not remarried or you remarried post age 60.

um you have to be at least 60 because survivor benefits can actually start as early as 60 whereas spousal benefits and your own benefits can't start any earlier than 62. this over here it's or it's 50 if you are disabled and you have to be entitled to your own benefits but again if they're less than your former spouse then you'd get the higher of those two benefits here's an example of Dave who's 62 and a widow so his wife passed away his spouse passed away and couple different strategies right he could start as early as 62 and just claim those survivor benefits now and in this example he would be entitled to 1237 a month the second strategy though is that he would take those survivor benefits now until age 70 and still get that same 12 37 a month but then at his age 70 he could switch to his own benefit which had the benefit of waiting those years to get that higher amount and at age 70 his own benefit would have grown to eighteen hundred dollars a month right so just by strategizing what's available to you he's increased his monthly benefits by 50 and a 35 percent increase over his lifetime just by strategizing and understanding that he's got a couple of options here right so that's important to pay attention to okay let's talk let's talk catch-up contributions we're already talking about how how people ages 50 and up can have additional contributions to their 401K plans however there's a few additional catch-ups for people even older than that and this is a new rule so that same 7 500 catch up on the 401K applies for people 50 and above and again from ages 59 58 to 59 however there's a change now an additional allowance that was put out there starting in year 2025 people ages 60 61 62 and 63 can actually make a ten thousand dollar catch-up contribution so again you've got that base level 22.5 that you can put into your 401k if you're 50 and above you can add the additional 7 500 to give you a total of 30 000 but starting in 2025 if your age is 60 to 63 that ketchup can actually be an additional ten thousand dollars so that would make your total 401K contributions for those four years as much much as thirty two thousand five hundred and then ages 64 to 70 it goes back to that 7 500.

So if you were if you if you're finding yourself behind right in your retirement plan in your accumulation goals and you get to these ages and you were able to Max Fund not only the basic amount but these catch-up contributions in all of these different age ranges right in these first couple of years that would be sixty thousand going into your 401k the next four years that would be 130 000 going into their your 401k and then these subsequent handful of years that would be an additional 210 000 going into your 401k add all that up that's getting a reasonable rate of return we're assuming six percent those contributions over that span of time would actually equate to almost six hundred and twenty thousand dollars of additional retirement account balances right so they they're basically giving people a way to kind of really jump start or accelerate kind of in these years as people are getting closer and closer to retirement to make a much larger impact on what they're able to put away towards retirement accounts all right last thing I want to talk about is making sure that you're paying attention to your asset allocation right as you're getting older as you're getting closer to needing the money from your retirement account you really want to make sure that you've built a portfolio that can withstand Market volatility it can withstand downturns a lot of people find and in fact the studies have been done in approximately 59 of baby boomers are actually over allocated to equities or stocks right and we've kind of got this little map here showing the different kind of rates of return versus risk levels when we compare various asset class right government treasuries so t-bills t-bonds Etc are going to be the lowest risk but also the lowest return and then these things just kind of Step Up corporate bonds still fairly low risk fairly low return but a little bit higher on that risk turn scale then we get into stocks right large companies mid-sized companies small size companies the risk level goes up so does the Target so does the projected returns but if you're in close to retirement in retirement right the volatility the potential for larger downturns is going to have a bigger impact on your ability to ensure that your assets are still sustainable and that you can still have the amount you need to last for your entire retirement so again it's you always want to pay attention to your asset allocation but it becomes even more important and more vital the closer you are to needing to start withdrawing from your funds right you want to ensure you've built a portfolio that can sustain those Market downturns I think Catherine's going to tell us about our free assessment but I'll also and let me know if there's any other questions at this point just had a couple that some are kind of detailed we've gotten several questions but some are very detailed so we might have to do those offline but um one is and I believe you you talked about it I just wanted to let Elaine know that um she asked if her husband and she just split up they're 64 and 58 respectively they've been married over 10 years they're both still working he's the higher income earner and will she be able to collect his social security benefits when she turns 62.

You talked about it yeah so since they were married at least 10 years once they are divorced yes she would be entitled to frankly the same as if they were still married her own benefit or 50 of his whichever one's higher right and then uh there's another one that says they're in a long-term relationship they keep their finances separate they're 38 and 37 and they have no intention of ever getting married does this change how we should each invest for retirement uh that's definitely pretty specific so I don't know how much I could really uh give on that but I mean it sort of depends right even if they're Finance if they're never gonna get married and their finances are always going to be completely separate but do they like pay for joint goals together or like it's literally every single thing separate then you were just going to want to map out your goals individually to try to Target accumulating for those goals so it kind of depends on how separate it is right or if there's joint goals that they're accumulating towards together right that would probably have an impact also and then there was an uh one other question that I think we can get there's other questions but we'll probably have to get back to them but one was saying that in their in our slides it says that uh additional savings per year when we say additional savings per year and the name of the slide was getting off course are you talking about savings or investment savings like Investments it should be clear yeah like retirement savings so whether that's in your 401k or IRA your Roth a combination retirement savings exactly okay if you have more questions please schedule your free financial assessment with one of the experienced professionals here at pure financial advisors and they'll take a deep dive into your entire Financial picture and stress test your retirement portfolio you'll not only learn how to choose a retirement distribution plan that's right for you minimize risk and maximize return legally reduce taxes now and in retirement and maximize your Social Security you'll also learn how to protect yourself against Market volatility Rising inflation and Rising health care costs remember there's no cost no obligation this is a one-on-one comprehensive Financial assessment that's tailored especially for you to get your questions answered we would just like to thank you so much for being here thank you Allison I know there's so much information to get to so it's difficult but this is our you know we try to do these every month so that we can get specific topics and if you have other topics that you'd like to hear about please let us know that as well

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How To Retire At 30 Living Off Investments

in order to live off of
your investments completely. And I know that the title of this video may sound crazy about retiring by 30, and there are a lot of people
out there selling a pipe dream of you can retire by 30
as long as you invest in this course, or go buy real estate and while that may work for some people I'm not here to sell you guys a course or to pitch you on any
kind of product like that. What we're going to
simply talk about here is how much money you need to have invested in order to live off of your investments and essentially not have
to work to earn your money.

And believe it or not, there's
actually countless people out there who have in fact
retired as early as 30 years old, by following this exact strategy
that I'm going to outline. So if this idea of retiring early and not having to work for your money is something that interests you. What I want to ask you
guys to do is go ahead and drop a like on this
video just show your support. I really do appreciate
that as it helps out with the algorithm and allows this video to get shared with more people. But what we're going to look
at in particular in this video is something called the 4% rule, and that essentially
shows you just how much money you need to have set aside, in order to live
off of your investments. Now you can in fact live off of different types of investments like real estate or the stock market for
example or a business that's providing income for you. But what we're going to use in this video as an example is a passive
stock market investment, and we'll show you exactly
how much money you need to have invested in order
to live off of that income.

So the goal here with this
strategy is to simply invest your money and have a large
amount of money invested and then you would
essentially be living off of the interest income or
the growth of that money without touching the principle. And as I'm sure you guys can imagine if you're not touching the principle or your initial investment, then your money could
foreseeably last forever. Now, the sooner you're able to retire is all based on how much
money you're able to save up and how little money you are
spending each and every month, and there's actually a
whole movement of people that are following this
exact strategy, and it's something out there called FIRE, and FIRE stands for financial
independence retire early. And there's a lot of
people who are doing blogs and videos and all kinds of
stuff about this concept, and there are countless
examples out there, of people who have retired
as early as 30 or even less.

By following these strategies. Alright guys so there's
basically three steps you have to follow in order to do this, and as I'm sure you can imagine, step number one is to be frugal or to spend as little money as possible, because ultimately what
you're looking to do is save and invest enough
money that the interest or the dividends, or
whatever the growth is pays for your monthly living expenses.

And as I'm sure you guys can guess if your monthly expenses
are $6,000 versus $3,000, you're going to need a
lot more money invested to cover those expenses. So being frugal and saving
as much money as possible is actually going to serve
two different purposes here. Well, number one, the
less that you're living on the more of your paycheck
you're able to save up, and the more of your paycheck
you're able to save up, the more you're able to
contribute to that freedom fund, which will eventually be paying for all of your living expenses. And then second of all by spending as little money as possible
every single month, you actually don't need
to save up as much money to potentially live off of the interest or the growth of your money.

And we're going to go over
those exact numbers right now. Alright guys so step number two
that you have to follow here is going to be a tough one, but that is going to be saving 50 to 70% of your take home income and again, if you're looking to
retire by 30 years old, let's say you want to work from 20 to 30, and then not work for
the rest of your life, you're going to have to take
some drastic actions here. And that is why you need to live off of a microscopic amount of money. And that's why step number
one is so important, by cutting down as much as possible on those monthly expenses. So people who are trying to do this, you're not going to see
them driving brand new cars, you're not going to see
them going on vacations, they're probably going to be,
you know, eating canned beans and doing campfires in the
backyard as summer entertainment. Not that there's anything wrong with that, but they are literally spending
as little money as possible, because they're focusing
on the long term picture of what they are trying to do.

So people who are following
this FIRE movement are often aiming to save 30
times their annual expenses, and that will allow them to
withdraw about 4% per year without basically touching that principle and that is where that
4% rule comes into play. And that is basically where you're able to draw from an account about 4% per year, and over a long period of
time based on the growth of that account and those investments, it shouldn't be chipping
away at the principle which should in theory
give you unlimited money. So what you're aiming
to do here is to lower your monthly expenses as much as possible. Figure out what it costs
you to live per year, multiply that by 30, and then
save up that amount of money by saving 50 to 70% of your
paycheck every single week or month, or however often
you are getting paid. Alright so now the question
you guys have been waiting for, just how much money do
you need to have saved up and invested to live off of that money following the 4% rule. Well if your annual expenses
are $20,000 per year, they would recommend having 30 times that amount of money saved and
invested, so $600,000.

If your annual expenses were $35,000, that number becomes 1.05 million. If you're somebody
spending $50,000 per year on your living expenses
you would need to have $1.5 million saved and invested,
and for the final figure here, if you spent $100,000 per
year on cars and housing and food and all of that,
you would need to have about $3 million to successfully
follow this strategy. So I'm sure this goes without saying guys, the best way to follow the strategy and to reach that retirement as quickly as possible is going to be
to keep your monthly expenses as low as possible. And just to put it in
perspective for you guys, every additional $100
that you spend per month, if you follow this is
an additional $36,000 you need to have set
aside in that freedom fund to support that $100 of monthly spending. So if you're serious
about this and you want to retire at 30, or even younger, you are spending literally as little money as humanly possible. Alright so the final step
to following this strategy is going to be passively
investing in the stock market. So most people following this strategy are actually following
the Warren Buffett style of passively investing in index funds.

And if you're not familiar,
index funds are basically a way for you to have diversified
exposure to the stock market. Where you're not essentially
picking what stocks are going to outperform,
you're just passively owning the entire market. So people following this strategy are not out there trying
to beat the market, they are not stock
traders or stock pickers they simply passively invest
in these low fee index funds, one of the most popular ones being VOO or the vanguard 500 fund. And essentially what you are doing, is buying a small piece of the 500 largest publicly traded companies out there, and all the different
dividends those companies pay are all collectively put together, and then you earn a quarterly
dividend from that ETF. And over the last hundred
years or so the stock market, on average, has returned
about eight to 10% per year. So if you were only drawing
4% from that account, based on historical data, you should never be
touching that principle over a long period of time.

And that is how you would
be able to live off of 30 times your annual income, if you save that money and invest it. Now that being said that
is the perfect segue into the sponsor for this
video which is Webull. So if you guys are
interested in getting started with investing in the stock market, this is a totally commission
free broker out there, meaning you're not paying
any fees to please trades with them and you can
purchase the Vanguard 500 ETF that we're talking about in this video right on that Webull platform, and not only that, they're
willing to give you up to two completely free stocks just for opening up an account with them. Number one, if you open the account, you're going to get a free
stock worth up to $250, and then when you fund the account, you'll get an additional
stock worth up to 1000.

So if you do the math there, that is two completely free stocks worth up to $1,250. Now I am affiliated with Webull, so I do earn a commission in the process if you use my link, but
if you guys are interested in grabbing two completely free stocks that is going to be down
in the description below. So finally, the last
thing I want to do here is to put all of this together, and go through a real
example of how you could in fact follow this strategy and even retire by 30. Now again, this is going to
require some very drastic saving because essentially you're trying to work for about 10 years of your life and then not have to work
for the rest of your life. So most people will never
be able to accomplish this, because of the amount of
sacrifice that is required, with that being said, let's go ahead and run
through the numbers now. So let's say you're earning
a salary of $75,000 per year from your job, and ideally,
you don't have any, you know school loans,
student loans, medical bills, or anything like that.

So you haven't gotten
sucked into the consumerism and you don't have like a brand new car so your expenses are as low as possible. And I know this sounds like
you know theoretical situation, but this was actually
about the same situation I was in, when I graduated
college I was 20 years old, now I was making about $68,000, so a little bit less, but I had no debts, I had no car payment,
and so I was somebody who could have potentially
followed this strategy. So after you pay your
taxes, your take home pay is going to be around $56,250. Now we know already in
order to pull this off, you need to save 50 to
70% of that take home pay in order to actually build up enough money to live off of that income. So we're going to assume
you are saving 70% of that take home pay. So you would need to live off of 30% of that post tax income, which
amounts to just over $16,000, or around $1400 per month. Now, is that possible? It absolutely is.

Is it easy? Absolutely not, you're certainly not going to be going out to the
bar and buying beers or going out to dinner,
you're probably going to be living in a tiny apartment driving an old car and eating at home for breakfast, lunch, and dinner. But if that type of
sacrifice is worth it to you for the long term picture, it is something you may
be willing to do yourself. So each year you would
be saving and investing a staggering amount of money, which is 70% of your take home pay
or just over a $39,000. And that is how you would
be able to pull this off, and assuming you kept that
cost of living the same at around $16,000, just over 16,000.

Your freedom number, or 30
times your annual expenses, would be just over $506,000. So, how long would it take
you to save up that money? Let's go ahead and answer that now. Well if you took that
$39,375 per year of money that you are saving and
invested in the stock market, earning 8% return, and
as we said, historically, it's an eight to 10% so we're going to go on the conservative side, well in 10 years at 8%
return career you would have $570,408.40, meaning you could then, if you kept those living
expenses the same, following that 4% rule, not have to work for your
money past that point. And just to circle back
guys what this really comes down to is the level
of sacrifice involved. Are you really willing to live
off of about $1400 per month, or do you want to have vacations and going out to get dinner
and things like that? So it's not people who are doing this that are out there traveling and dining it's people that are living
as frugal as possible and finding enjoyment
in other areas of life other than just, you know,
spending money on dining and things like that.

Now, is this a strategy I
would personally follow? Probably not because I
am one of those people that enjoys traveling, I enjoy dining, and I do spend a little bit
more than the average person, so my freedom number would be
multiple millions of dollars, but instead I follow the
strategy of earning as much as possible and saving a
lot of that earned money, and then eventually allowing
that to supplement my income by having that interest
or the growth of my money paying for a lot of
those things that I want. And believe it or not,
guys, there are honestly countless people out
there that have followed this exact strategy and
retired at 30 or less. One of the most well known people being Mr. Money Mustache, he has a whole blog where he documented this whole journey of becoming financially
independent and retiring early with both him and his wife.

So I'm going to link up his blog down in the description below
as well as a couple of other stories about
people who have followed this exact strategy and
retired at 30 or less. So that's going to wrap
up this video guys, thanks so much for watching. If you're new to this channel, make sure you subscribe and
hit that bell for notifications so you don't miss future videos, and I hope to see you in the next one..

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401K to Gold IRA Rollover

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