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60 Years Old and Nothing Saved for Retirement – Top 12 Recommendations

moshi journal of the war about version 5 and her dick or nothing save time and in this video i will give you my top 12 recommendations from to gather épisode and the phoneshop s line my name is lynn mines and today we're talking about how you so I you're getting only star junior with over fifty with that over fifty5 maybe you our die in your sixties and now I have little or no 10 series time it i'm going to give you 2 tbsp specifics you can your original is concern there's no de jorna loon and it's never too late many people a coaching time lady finance even in the situation where we have the timing so stupid now arjan yourself in the beginning inge you where you were young just can't get by make and smeet more history family of chipper tells us times is a medium and helps and must collins take the pan yourself fit the sun tremor sixty thumping when in more detail with your juice at lower netting seyfried time and of course start in early there is a storing late but you can make up Alaska hands and math eyeshadow in situations unique and what works for one person may not work for another for coastal regions with the Parisian this video is the ghibli some practical ideals and strategies to consider this there can make a very big difference to you in your goal detail majors number 2 tap in the toori of your situation and then for your timeline that you already have the passado de is how shampoo pure fifty five singlet hero that had ten years before your sexy woman and 14 use the force that you can campus aladdin 14 years old and earth 3 vai dealers bart herbed be focused in that can we have plans at in the greatest az is your building churn and income that have income or the ability to become i can there is your goals english is not about how much you earn is what you chi the mathers new be surprised with him the people with high income i am super icons the wrapper elearning c at the front you'll be surprised at how many people with barry but is it war incomes have surprising the size ball to the ponies alice ivory terms and they financial planner eyes i head in the spectrum and him force me to the moon and more the natural tennessee is to spend more the global fund yogis and there you have to use your browser necessary expansions we already bread igor inputs and leslie protest you the cancer your channel effectively protest with old plans in moscow color go recommendation numbers 3 is 10 million numbers in economies way glowing you don't want your card in flow and url flow the income and expenses the calving budget through budget is to work parking were many people feel like folding budget is even though he has the you a bit suggest that you change through you want a lot budget of this chickens the the learns that helps keep it simple in a simple traces this is t still a nice way going nb controlling nice way glowing knowing you manage there you have to do a major a bit of the beak you often in thatcher fray recommendation number for completing journey they spend in arnhem with commitment to check all here tension quarter idea for what of the next perfect and min truck every penny you can simple idea what the pc' pepper donor come together or if you like i can download spending a dead spreadsheet the week savior it is very simple harpel toe an excel spreadsheet designed with purpose it free download and there is a link in the description below then I had a garden but my deesje number five is nipping the bud back online now I have to have color that is a bucket of income Camille and wedges Gillingham someone who will be empowered to make some changes the girl with me for middle what would be like if you were able to all your income or in other words i had no expenses there already fine and zeros the snowfall wants is thing you sent with your kids and corn oil in best oil that can be put in there someone for the nex-5t and 14 hours how much of nfc can you use your kimeli i would be a significant amount of money you should just think brain recommendation number sex this is the great and pink outside the box' the monsieur with your personal story but wait after bad guys mother pork royce duns with the laitman i did not prevent from being married and wooden awww man by professor locking must contain you won't you make and slammed and my new be challenging to be white and were determined to face life's challenge is what have they may be together have us leather yes we quiet small the finish my schooling and and there was also a full-time mother in singapore my and who weatherman etc to buy pearls you have to nemaattori in which comics people's saving 1 hour marie are to us in possible this is where we share the great if my biggest expence was rather fmri buddy we start to think boys republic loses when we get older and someone moving in with parents with the waif into small children and this point was after the bible option borsato time but we were determined to find a way to fool cycles likes people's so had to oil brainstorming my wife the BBC note the cursor church ring and she love to visit and care for elderly people save him from when in the elderly people there or in arcen who live in her home alone but he brings the point where can I assisted living and promised him and walked into a system care provider call when this weekend find someone there would be okay in the care provider game with the nekberghe into small chill you should never have anyone doing anything like this before I decided to take two mothers, in theory it is not acres of course this was washable before the Joline and anyway Glenn in there in the classroom white section to local newspaper who were surprised to see paths have that and Kohl's of people looking for loving care providers for the Cairns region billion more than one will be a rapper who with the first internship family Michel Nabertherm and in the film about who was new in elderly managers nine who are here three scraper from the strip company such a process and are now immediately since i was a barry k instrument the absolutely chill me you guys inside toe story home is the goal john their upper room and board we persisted full basement where films in refrigeration all utilities and my life was able to the shopping there is through and provide the not the care and they also peter siks to that per month additional the green office for and minimal when in love for the us complete guangzhou and sultry amical him only two in my wife's arms my i'm so my work this experience was a more photos on tags mother able to dry cycles so ark spencer's and even inc research then you have when you have to set it forward denpa one has to have brother first even the meteo another creative at work story and couple in sixty one very little c free time by a thousand glasgow and well it is in can was do you want that sylla bolhuis entire career day a creative and create aggressive client to do love them to reduce turkish patches bonnie lies and that person first rebirth desolder iphone how the plants downsizing santing was expensive to measure in d axl in blood in a world order good working part-time radiation the joris school and taking care for two worlds to that archer and her beds sharing to the chances and providing their father and son for the stereo period in t league dark gray coach the little one helps immensely because of that is sure of pain patient care and newer etc and that person or drink or two you could this was a big boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh my dough is in the cell and the workbench is there through the gates the age of 16 5s am that arbitrary their the advertisement wiser the plague this was my social security designated the full of time 161 5 is the moment the camel is want medicare prepared the sweet this would be tender how they live single in long Canadian and seven d is the new sixty-five we want you longer and that as the you or your spouse winter nineties and pianists cisticola hi hi er de may be putting the ship live the life you might be cross minnie beebe wants nme people in their voice and i still working sam micro sd not the income else because they eat simple in joy working in samsung not uncommon for a person to retire political board and to go back to work dear cousin oil pt if you will italian the media kühtai er from the wine and findi control idea of ​​tai chi chuan sint in de us better no ikke star the site has a small business or Samsung of the media budget that was there in future episodes and the Easter shop s line the plan back track mini on the procedure is the you could consider hats another reason why am I would consider subscribing to this channel you have a recommendation number is called the lion styling socials curry benefit's je keyword longer you're able to the lego scribes sander this can increase the size of the features of three benefit's in a link boys what is your had longer and burning history the youtube app storify earth delivery here the to work can make a big difference if we now the reader jury benefit's beyond for him agree you also can earn the darcy types of life timing grads the size of your social benefits can be much a larger my what you do is that you do n't want to have the good social studies trying to better understand our social security de lions time and credit work and for a customized social studies strategy presses live for you and i can go to social security line thanks to humor committee recommendation number name is john try physical and mental half dat satin cherry lifestyle list you the soul and the soul we bring the youtube and ashoka's times in physically and mentally fit maybe the most pointing you can take your time and fill we new ipad you will have more energy you will and send your ability to work longer and to earn longer the benefits and exercise and the help of a church documentation number 10 is the haafidh 14 yourself a lot in your future the Muslim program 14 god gray and amazing things kabir kampen list aldo and meeviel roaming and even in possible that thing is a possible yo and more people and you think you're stronger than you think your mark reason that I think in your child your heart drinks you can overcome in a challenge to you for your mind 2l and Disclose of halloween there wilcox there is no chance no destiny no fact that a circular or nuisance or control the family room of that term a solo house inc your team live in Rijswijk and wayside DVD and you programmer penetrate from your bed show more you can series b there is 0 chads no destiny no fact that incident or hinder or control the cinema have that term and so recommendation eleven is the never stop learning the caribbean form and good books you have the number weather widget my bible on by george glitchen avatar der that along when we see 10 king bridge in the poll in very bizarre motivational a sparing angry am already you ca n't lean was bummed best be so a universe alone there a porn touch religions when comes to actually saving you fire a rat race for my kees with ketchup contributions and have all those videos the goal indeed that when CDA Lyceum in the most active Chile plausible and new of course will be wise in all-wheel of the people who left together the box that Redman in description below environments and 12 is the overflow you have a strategy Aramis Aegon reconversion mortgage it is a time rather in the morning that does not allow the needs to change the renewed hypes or rather in the morning the app more options and more flexibility in the queue the building fifty percent and King Johan and new loses a sixty-two that gate and in a purely morgens payments so I think there is a lot of humor morgens payments you may also be able to establish a tax free stream income the social media tyme come and get to the time in this video to go nobody yourself you can le morvan my book in chernaiev i only online those managers on the fences it is how a strategy cleo public gamechanger pio in your timing you have the toilet in my book while volumes on the books style the holistic time and prime revolution i can also just by the amazon search online a lame arm and your van de bin this is like rats link in the description below so you learn have my god of recommendations if you about fifty five and him just thing super terms definis par des video beneficial have the runs and oh please add a comment dumbell lo domino what sterile and actually to see your in the next episode or the financial pipelines [Music] [Applause] [Music] [Applause] [Music]

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What Retirement Income Puts You In The Top 1%

what income does it take to be in the top 1% of all retirees you'd think that'd be a relatively simple project to research turns out it wasn't so stick around and benefit from the work that I did to uncover these hardto find numbers let's go for a walk and and talk about it and you know the first thing I want to observe is that most of us probably would not recognize could not tell by the lifestyle folks that are in the top 10% of all Rey income when I get to the numbers I I think you'll you'll say okay I think I would be able to recognize people that are in the top 1% I'll give you a hint it's a it's a much bigger number than than I thought it was going to be okay and and so why is that you know why wouldn't we recognize uh the folks that are in the top 10% and it's because like a lot of things in life you know if you look at Millionaires and millionaires Lifestyles you know 70% of millionaires in America or self-made and and most of them most of us uh got there um by being you know uh uh careful with our money and and and being good Savers as as much as uh being fortunate and and receiving a a good salary along the way okay so I'm going to start off with what these numbers look like for all Americans and this is from a large data set they say it's the largest population data set uh in the world and the organization is called ipums and this is for all Americans not just retire so um to be in the top well first let's start off with median and and this is household this is household income the median household income uh in the United States for for everybody all ages is is $70,000 to be in the top 25% you've got to make about $130,000 000 to be in the top 10% you're making a little over $200,000 the household income a little over 200,000 it's 212,000 and to be in the top 1% you're making over $500,000 a year now um and the number is 570,000 what was interesting is each of those groups from um 2021 to 2022 so this is a data set uh that they released the results of at the end of 2022 each of those groups got a raise between 2021 and 2022 unfortunately from the median and Below on an inflation adjusted basis folks that are at the median below uh are actually making less on an inflation adjusted basis folks that are above the median are making more in 20122 and we've heard this play out in the press okay so so those are the income levels now now let's talk about savings and there's a really interesting point I want to I want to share with you here okay to be in the um to be in the top 1% of Savers in the United States this is the top 1% if you're between 65 and 69 75 and 79 or over 80 it's to be in the top 1% you've got to have $2.7 million in what's called net worth the net worth is just take all of your assets all of your savings accounts the value if you own a house the value of your house and subtract from it the the the debt that you have on that essentially so you just take all of your assets and you subtract all your liabilities your car loan your your mortgage your credit card debt hopefully you don't have too many of the latter too uh and that's your net worth so um if you have a net worth of $2.7 million a household net worth uh in the United States you're in the top 1% what I want to point out is you know if you look at the income boy that income is really staggering right I mean the top 1% of income is 570,000 or higher and you know some people will say well you know that number seemed a little low I was expecting that top 1% of income to be higher and I I agree but that's like the last person that made it into the top 1% so there's plenty of people in that category that are making a lot more money but think about this you know the the lowest income in the top 1% is almost $600,000 right it's $570,000 yet to be the top 1% in savings you just need $2.7 million or more um and what that tells me is you know as a society as a country it's no surprise we're not saving enough money and so um it's not enough to make a great salary you've got to be able to to save it but to me that was just staggering that you know essentially that top 1% you know if they were the Savers they essentially have saved um what five years worth of income uh and most of us could not retire if we had just saved five years worth of income right so that just shows just the the importance of living below your means and and saving as much as you can okay let's keep going now I'm going to Break It Out by desile and again this is household and this is according to the Congressional research service so the the lower quintile so there's five groups the lower 1 the lower 20% of Americans are making under $22,000 a year then the next group up from that are making you know between that 22,000 and 40,000 the next group up to that is is making between 40,000 and 65,000 um so you can see that you know 80% of Americans households are making less than $65,000 a year now I haven't got to retirement that's coming up here really soon um let me get to the top quintile the top quintile households in America are a little over $110,000 let's call it $111,000 okay so now let's get to what I finally was able to find out so I've shared a lot of information here and I think many of you are listening to this this uh these numbers and saying you know what I'm doing okay you know it's hard to get that high high salary but if you're saving and if if you're uh spending less than you earn if you're saving that and then importantly if you're investing that remember it's not enough to just save you have to invest it you have to get compounding working for you so a lot of you I think are looking at the at least the savings number and saying yeah we're doing okay we're doing okay and I hope you are I hope you are okay so now getting on to the uh uh the the top income in retirement uh and before I get there if you're enjoying this video take a quick second and hit the like button it really does help the algorithm uh find other people that this this video uh and my videos can help okay so um I'm going to break this out the top 10% the top 5% and the top 1% so people people 65 to 69 now this is people that are working and not working top 10% is 200,000 top 5% is$ 260,000 top 1% is essentially $1 million okay so that's 65 to 69 and now for people 70 to 74 numbers come down a little bit top 10% is $170,000 top 5% uh is $26 is that right yeah 265,000 and the last number is a million dollar so retirees to be in the top 1% of all people 65 and older you need to be making a million dollars a year just to put that in perspective that rule of 25 if that's what the uh if that's what the income is then they had they'd have to have $25 million in savings by the the rule of 4% I hope you found this video helpful if you did I know you're going to like this video up here that talks about average income for retirees in America and this video down here that talks about five reasons to retire as soon as you can thanks for watching bye-bye

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Transitioning to Retirement Part 2 (1 to 5 years before retirement)

yeah hobbies is a big thing because a lot of people say i don't know what i'm going to do in retirement because i have no hobbies but they'll say i don't play i have no hobbies so you have to you've got five years to start to think about that a lot of people wait till it's too late and there's so much stress on them they have no hobbies they don't know where they want to live they're not talking to their spouse we want to prevent all of that today we're talking about transitioning into retirement and this is part two of our three-part series if you remember and if you watched it the first part is five to ten years out today we're going to focus on your planning and things you need to do one to five years out before you leave your business and enter this third phase you know this is going to be a hard transition in your life if you aren't prepared and if you don't plan when we entered this phase we looked for help we looked everywhere but the only thing we could find was financial planning help and that's not what we needed and that's why we started this company because we realized we were struggling a bit and had to figure out how to pivot to make this time of our life as good as it could be so here we are retirement transformed in part one which was five to ten years out we gave you four strategies to work on the first was planning the second was understanding risks and when we talk about risks in retirement it's things like your loss of identity and creating a new identity your loss of community and creating a new community and those 40 hours of free time that everyone gets back the other thing was building a vision for your retirement five to ten years out you want to start thinking what is it going to look like and you also the fourth thing is start thinking about habits and routines what are some good habits you want to bring forward what are some bad ones you need to stop we want to make sure you go back and watch that episode the link is pasted below in the notes so we're going to build on those strategies today as we look at the one to five years out you know and in this time frame by now one to five years from your retirement date you do need to have a financial planner in place and so you have the financial planner your vision should start being clear and assuming it's your choice to retire you have a time frame and a date you know you have to start getting comfortable with the idea and getting more overall clarity time is going to go by really quickly now you know we both retired a lot earlier than we thought and because of that we weren't prepared you know i was at the peak of my career and i decided to sell my company i was 55 years old and i planned on working another 10.

Everyone wants to work to 65 right but i only worked for five and you know simultaneously my company was sold to a competitor and i stayed during the integration for three full years but i found that it wasn't going to work for me anymore so together in december of 2018 we left together and our entry into retirement was rough you know we we spent a year traveling the globe we went to italy uh florence uh where else are we london london bora bora bora bora was great but we did that we entertained family and friends for a summer that felt like a year we realized we didn't really have a purpose and one day we looked in the mirror and neither of us liked what we saw no we didn't we didn't we didn't we didn't look good and we didn't feel good and the thing is we don't want that for you this transition is hard and the more prepared you are the better chance of success you'll have so here's some additional steps that you should be taking one to five years out before retirement now this comes from our experience our success and our failures but also from many of the clients that we work with you know the first thing we're going to ask you to do and you might roll your eyes is to buy a journal aligned or unlined journal a cheap journal just something to start writing in something you can start documenting your thoughts and we're going to give you a little structure on that but writing is better than electronically typing it start recording your thoughts your feelings your struggles and your successes you know the reason that writing is better than electronic is it forces you to actually slow down you can't get the words out fast enough so you have to actually think of the words and write them and you retain it better when it's electronic even if you're a good typist you can just bang them all out you're not really allowing your brain to slow down and focus so journaling and writing is really important it's funny when you said bang them all out because you're a one finger typer two fingers this one and that one anyway be a place for you to gather your thoughts but more importantly to break up your journal into buckets and i'll tell you one of the buckets can include our five pillars physical wellness mental wellness relationships that you want to deepen or let go of your spouse partner alignment or misalignment wherever it might be and the last bucket is wisdom sharing you want to start thinking about what is it you're going to do after your career ends to get fulfillment to make good use of all of your skills and your experiences to to to serve others in a way like what jody and i are doing with this business and you want to start listening to your voice and writing it down and we're actually going to go deeper on wisdom sharing today because that's for the next five years you really want to start thinking about how that's going to fit into your life so this journal is going to incorporate kind of where you are now and you're going to put some reaching statements in to figure out where you'd like to be and then you're going to be able to do some research and organize your thoughts right and some other areas to put in the journal to start thinking about is travel plans if you want to travel write it down and figure it out and start thinking about it we have the greatest travel agent by the way that helps us figure some things out but you also might want a vacation home right and you also might want to think where do you want to live in the next 30 years right and how's that going to impact or affect or include your children and family how does that where you live how does your location impact your hobbies yeah hobbies is a big thing because a lot of people say i don't know what i'm going to do in retirement because i have no hobbies or they'll say i don't play i have no hobbies so you have to you've got five years to start to think about that a lot of people wait till it's too late and there's so much stress on them they have no hobbies they don't know where they want to live they're not talking to their spouse we want to prevent all of that we also want to give you a place where you can put down some aspirational hobbies yeah maybe learning a language or going to an art studio or picking up a new sport start painting start painting yeah mark's laughing at me because i want to start painting i just haven't had the time four years ago i gave you the whole painting kit the easel and all of the things and they're still in the closet maybe i'll go now okay okay there you go all right second thing to do we're going to focus the rest so the first is the journal that was all the big journals get a journal and start writing right and you know write and then put it away take it back out again put some tabs in there on these different sections i think you'll really enjoy it but let's talk about wisdom sharon because this is really a core component of your retirement transformed and one of the things that we did ourselves and we do with our clients and we share with this in a very deep way in our online course is to figure out some things about yourself so we want you get a blank piece of paper and we want you to put five columns in there going left to right and the first column really is to list all of the jobs and the roles you've played over your entire career or your life in the last 30 or 40 years and sometimes it's easy to break it into buckets the last 10 the previous 10 whatever it might be sales role ceo and you want to go back as far as you're comfortable with i know for me i went back 20 years i know for mark he went back to his first job out of middle school which was cutting lawns paper boi oh paper boi paper boi when did you cut lawns after that because you went all the way back i wasn't allowed to use lawnmower it was too little so you pick the time frame that works for you but in that first column you want to list all those jobs that you had and then put the date because the date the second column the date just so you kind of have a reference but really where it gets interesting is the third column we want you to write down what did you love about that job what what excited you about it why did you like it so much what emotion comes to mind when you think about being a paper boy or cutting lawns or right i happen to be the world's greatest waitress which helps me helps me be a good mom of six kids carrying plates the fourth column is perhaps what did you dislike about that role because if you didn't like it you clearly do not want to take up that type of job right or that that service in your retirement if you don't like it and then the fifth column is what has this job or role taught you and then to sum it up you want to go through those sheets and do a whole bunch of them pick your top five it's critical it's all we want you to do is what were the top five jobs or roles that you played in the last 30 years so that's probably a pretty big and a pretty busy sheet for most people the second thing we want you to do is list your strengths and values as they speak to you go through and list them and get a top five for each strength or value and once you have that combine that with your top five jobs and see where you land and start writing about it you're gonna start getting a little clarity on what it is you think you might want to do the other thing to do as you're writing and thinking about it you've got you know one to five years left of work start paying attention to your to your days now so you went backwards now going forward if you have identified sales leadership as something you like really pay attention when you're doing it now you know if you're a finance person and you love working on spreadsheets is that really what you see yourself doing after so it's really important it makes makes me think of that what was that book that uh we read um wisdom at work by chip conley yeah we'll put those notes down below wisdom at work by chip conley the making of a modern elder an awesome read it's a really interesting book about his role in airbnb and the other thing to do during this phase if you're not already is start volunteering in any way shape or form you know it could be at the food bank it could be anything but you want to find a way to volunteer board service well i'll tell you it makes it easier to find your volunteering niche after you've gone back and you've looked at what inspires you in different roles and what your core values and competencies and where you get your juice from and then you figure out how much time you have now with the one to five years still working and then you figure out how to launch into a volunteering role and every community needs you now look these next five years are going to be a challenging time they're going to go fast we don't want you just to coast and all of a sudden end up thinking oh my god i'm leaving in 12 months the next video is about the last 12 months but we want you to do everything we talked about in the first video and this one to get you ready for that and that way you'll land in this phase fully prepared and listen if you enjoyed this please share with your friends and also please subscribe by clicking the subscribe button below and don't forget to join our free facebook community the link is in the notes as well it's a great place to start to build a community for your retirement phase thanks so much for listening and we look forward to being with you again soon you

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60 Years Old and Nothing Saved for Retirement – Top 12 Recommendations

moshi journal of the war about version 5 and her dick or nothing save time and in this video i will give you my top 12 recommendations from to gather épisode and the phoneshop s line my name is lynn mines and today we're talking about how you so I you're getting only star junior with over fifty with that over fifty5 maybe you our die in your sixties and now I have little or no 10 series time it i'm going to give you 2 tbsp specifics you can your original is concern there's no de jorna loon and it's never too late many people a coaching time lady finance even in the situation where we have the timing so stupid now arjan yourself in the beginning inge you where you were young just can't get by make and smeet more history family of chipper tells us times is a medium and helps and must collins take the pan yourself fit the sun tremor sixty thumping when in more detail with your juice at lower netting seyfried time and of course start in early there is a storing late but you can make up Alaska hands and math eyeshadow in situations unique and what works for one person may not work for another for coastal regions with the Parisian this video is the ghibli some practical ideals and strategies to consider this there can make a very big difference to you in your goal detail majors number 2 tap in the toori of your situation and then for your timeline that you already have the passado de is how shampoo pure fifty five singlet hero that had ten years before your sexy woman and 14 use the force that you can campus aladdin 14 years old and earth 3 vai dealers bart herbed be focused in that can we have plans at in the greatest az is your building churn and income that have income or the ability to become i can there is your goals english is not about how much you earn is what you chi the mathers new be surprised with him the people with high income i am super icons the wrapper elearning c at the front you'll be surprised at how many people with barry but is it war incomes have surprising the size ball to the ponies alice ivory terms and they financial planner eyes i head in the spectrum and him force me to the moon and more the natural tennessee is to spend more the global fund yogis and there you have to use your browser necessary expansions we already bread igor inputs and leslie protest you the cancer your channel effectively protest with old plans in moscow color go recommendation numbers 3 is 10 million numbers in economies way glowing you don't want your card in flow and url flow the income and expenses the calving budget through budget is to work parking were many people feel like folding budget is even though he has the you a bit suggest that you change through you want a lot budget of this chickens the the learns that helps keep it simple in a simple traces this is t still a nice way going nb controlling nice way glowing knowing you manage there you have to do a major a bit of the beak you often in thatcher fray recommendation number for completing journey they spend in arnhem with commitment to check all here tension quarter idea for what of the next perfect and min truck every penny you can simple idea what the pc' pepper donor come together or if you like i can download spending a dead spreadsheet the week savior it is very simple harpel toe an excel spreadsheet designed with purpose it free download and there is a link in the description below then I had a garden but my deesje number five is nipping the bud back online now I have to have color that is a bucket of income Camille and wedges Gillingham someone who will be empowered to make some changes the girl with me for middle what would be like if you were able to all your income or in other words i had no expenses there already fine and zeros the snowfall wants is thing you sent with your kids and corn oil in best oil that can be put in there someone for the nex-5t and 14 hours how much of nfc can you use your kimeli i would be a significant amount of money you should just think brain recommendation number sex this is the great and pink outside the box' the monsieur with your personal story but wait after bad guys mother pork royce duns with the laitman i did not prevent from being married and wooden awww man by professor locking must contain you won't you make and slammed and my new be challenging to be white and were determined to face life's challenge is what have they may be together have us leather yes we quiet small the finish my schooling and and there was also a full-time mother in singapore my and who weatherman etc to buy pearls you have to nemaattori in which comics people's saving 1 hour marie are to us in possible this is where we share the great if my biggest expence was rather fmri buddy we start to think boys republic loses when we get older and someone moving in with parents with the waif into small children and this point was after the bible option borsato time but we were determined to find a way to fool cycles likes people's so had to oil brainstorming my wife the BBC note the cursor church ring and she love to visit and care for elderly people save him from when in the elderly people there or in arcen who live in her home alone but he brings the point where can I assisted living and promised him and walked into a system care provider call when this weekend find someone there would be okay in the care provider game with the nekberghe into small chill you should never have anyone doing anything like this before I decided to take two mothers, in theory it is not acres of course this was washable before the Joline and anyway Glenn in there in the classroom white section to local newspaper who were surprised to see paths have that and Kohl's of people looking for loving care providers for the Cairns region billion more than one will be a rapper who with the first internship family Michel Nabertherm and in the film about who was new in elderly managers nine who are here three scraper from the strip company such a process and are now immediately since i was a barry k instrument the absolutely chill me you guys inside toe story home is the goal john their upper room and board we persisted full basement where films in refrigeration all utilities and my life was able to the shopping there is through and provide the not the care and they also peter siks to that per month additional the green office for and minimal when in love for the us complete guangzhou and sultry amical him only two in my wife's arms my i'm so my work this experience was a more photos on tags mother able to dry cycles so ark spencer's and even inc research then you have when you have to set it forward denpa one has to have brother first even the meteo another creative at work story and couple in sixty one very little c free time by a thousand glasgow and well it is in can was do you want that sylla bolhuis entire career day a creative and create aggressive client to do love them to reduce turkish patches bonnie lies and that person first rebirth desolder iphone how the plants downsizing santing was expensive to measure in d axl in blood in a world order good working part-time radiation the joris school and taking care for two worlds to that archer and her beds sharing to the chances and providing their father and son for the stereo period in t league dark gray coach the little one helps immensely because of that is sure of pain patient care and newer etc and that person or drink or two you could this was a big boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh my dough is in the cell and the workbench is there through the gates the age of 16 5s am that arbitrary their the advertisement wiser the plague this was my social security designated the full of time 161 5 is the moment the camel is want medicare prepared the sweet this would be tender how they live single in long Canadian and seven d is the new sixty-five we want you longer and that as the you or your spouse winter nineties and pianists cisticola hi hi er de may be putting the ship live the life you might be cross minnie beebe wants nme people in their voice and i still working sam micro sd not the income else because they eat simple in joy working in samsung not uncommon for a person to retire political board and to go back to work dear cousin oil pt if you will italian the media kühtai er from the wine and findi control idea of ​​tai chi chuan sint in de us better no ikke star the site has a small business or Samsung of the media budget that was there in future episodes and the Easter shop s line the plan back track mini on the procedure is the you could consider hats another reason why am I would consider subscribing to this channel you have a recommendation number is called the lion styling socials curry benefit's je keyword longer you're able to the lego scribes sander this can increase the size of the features of three benefit's in a link boys what is your had longer and burning history the youtube app storify earth delivery here the to work can make a big difference if we now the reader jury benefit's beyond for him agree you also can earn the darcy types of life timing grads the size of your social benefits can be much a larger my what you do is that you do n't want to have the good social studies trying to better understand our social security de lions time and credit work and for a customized social studies strategy presses live for you and i can go to social security line thanks to humor committee recommendation number name is john try physical and mental half dat satin cherry lifestyle list you the soul and the soul we bring the youtube and ashoka's times in physically and mentally fit maybe the most pointing you can take your time and we fill the new ipad you will have more energy you will and send your ability to work longer and to earn longer the benefits and exercise and the help of a church documentation number 10 is the haafidh 14 yourself a lot in your future the Muslim program 14 god gray and amazing things kabir kampen list aldo and meeviel roaming and even in possible that thing is a possible yo and more people and you think you're stronger than you think your mark reason that I think in your child your heart drinks you can overcome in a challenge to you for your mind 2l and Disclose of halloween there wilcox there is no chance no destiny no fact that a circular or nuisance or control the family room of that term a solo house inc your team live in Rijswijk and wayside DVD and you programmer penetrate from your bed show more you can series b there is 0 chads no destiny no fact that incident or hinder or control the cinema have that term and so recommendation eleven is the never stop learning the caribbean form and good books you have the number weather widget my bible on by george glitchen avatar der that along when we see 10 king bridge in the poll in very bizarre motivational a sparing angry am already you ca n't lean was bummed best be so a universe alone there a porn touch religions when comes to actually saving you fire a rat race for my kees with ketchup contributions and have all those videos the goal indeed that when CDA Lyceum in the most active Chile plausible and new of course will be wise in all-wheel of the people who left together the box that Redman in description below environments and 12 is the overflow you have a strategy Aramis Aegon reconversion mortgage it is a time rather in the morning that does not allow the needs to change the renewed hypes or rather in the morning the app more options and more flexibility in the queue the building fifty percent and King Johan and new loses a sixty-two that gate and in a purely morgens payments so I think there is a lot of humor morgens payments you may also be able to establish a tax free stream income the social media tyme come and get to the time in this video to go nobody yourself you can le morvan my book in chernaiev i only online those managers on the fences it is how a strategy cleo public gamechanger pio in your timing you have the toilet in my book while volumes on the books style the holistic time and prime revolution i can also just by the amazon search online a lame arm and your van de bin this is like rats link in the description below so you learn have my god of recommendations if you about fifty five and him just thing super terms definis par des video beneficial have the runs and oh please add a comment dumbell lo domino what sterile and actually to see your in the next episode or the financial pipelines [Music] [Applause] [ Music] [Applause] [Music]

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Retirement Planning: I’m 66 Years Old With $800,000, Can I Retire?

we all want to know do we have enough can we retire and how long will our money last well the key in retirement is to compound good decision after good decision and what that does is that helps to optimize your overall retirement assets and increase the probability that you do have enough and you can retire and most importantly you don't have to to live with anxiety throughout retirement worrying if you have enough or not in this video we're going to look at a 66 year old with 800 000 saved and really get into some of the nuances of different decisions that have to be made in the potential outcome of those various decisions [Music] hi i'm troy sharp ceo of oak harvest financial group certified financial planner professional host of the retirement income show and certified tax specialist the purpose of these videos is to help get you thinking along the lines of what decisions need to be made and how they are all interrelated from social security to health care to investments in asset allocation to managing risk to taxes to really get get you thinking about all the decisions that have to be made and how one decision impacts other decisions as we go through these what you'll start to see with retirement is that it's just as much an art as it is a science because everyone's situation is so unique everyone's circumstances are so different so we're going to look at some different variables here but we're going to start out with some very basic ones so first we have john and jane just a sample case male female both age 66 and just retire now we're in texas so we put texas as a state residence but obviously if you live in a state with an income tax a state income tax there would be a little bit different scenario but that's why the customization is so important okay so retirement period so we like to assume a long life expectancy and the reason is that the age 85 population segment in this country is the fastest growing population segment out there also according to pew research which i brought this article up here when we look at the projection of growth this is the estimated number of people over 100 years old over the next 30 years in 1990 there were 95 000 people over age 100.

In 2015 451 thousand by 2050 this is a pew research study by the way 3.6 million people estimated to be over the age of 100. this is advances in science and technology and medicine and treatment to help people overcome various diseases that they may they may find themselves with in retirement so underestimating life expectancy is a big mistake for a retirement planner because if we plan for 95 or 90 and you don't make it that far well you have that money you're secure but if we plan to 82 and you make it to 90 well guess what that's a big problem so when we talk about life expectancy this is one of the pieces of financial planning that is specialized to you and yourself you know your health you know your longevity you know what health problems you may or may not have of course we can customize this for your particular situation but most people from my experience underestimate the advances in medicine technology and science that will continue to extend our lives as time progresses we have treatment right now for various diseases and cancers that even five ten years ago we didn't have so underestimating our life expectancy is one of the big mistakes that people make now if you do have health conditions if you smoke if you drink you're probably not making it to 95 that would be customized for your particular situation but generally speaking i'd much rather plan for you to live to 95 and you don't make it there then plan for you to live to 85 and then you make it to 95 and then the plan obviously would be insufficient because there wouldn't be enough money to pay for health care to keep up with inflation taxes etc so that's why we put the life expectancies at 95.

okay this particular couple what we're trying to do is account for spending and retirement of sixty thousand dollars per year of course this is after tax so if most of your money is inside a 401k or an ira there is a tax problem there to get 60 000 out we have to pull more than that after taxes to be left with 60. healthcare this is the average medicare cost for a 66 year old couple in this country now it may be a little bit more a little bit less for you depending on your prescriptions and various out-of-pocket costs but this 9 400 this is the average including medicare premiums out of pocket costs for health care expenses for a 66 year old couple in this country okay so social security john has he will file his normal application at sixty six and a half and receive thirty six thousand dollars jane will then file spousal benefits in this scenario which is um a lot of times what we see working with clients where the husband files social security and then the y files for spousal benefits of course your situation may be different again this is where customization comes in but 36 000 and 18 000 are the social security benefits now here's something very important when we look at the breakdown in assets this is where retirement planning starts to get very very fun for us because it start it's putting that puzzle together but where it becomes very complicated for for most people because they don't understand the challenges that come with having too much money inside that 401k so we did a breakdown here six hundred thousand inside the 401k and 200 000 inside the brokerage account there are literally millions and millions of different ways that you could take retirement income from this breakdown of accounts you could take x amount from the 401k take x amount from the brokerage account brokerage of course when you say this this is a non-retirement account a non-ira optimization comes into play when we we are we identify what is the appropriate amount to take out of that 401k and what is the appropriate amount to take out of the non-ira in order to not just reduce taxes today but look at the impact over the course of your retirement which income distribution strategy makes the most sense for not only today but over the next 20 to 30 years so this is the breakdown here we're going to when we look at the tax analysis in a few minutes it's going to make a lot more sense we're going to look at the top 100 different income distribution possible strategies and the impact that they have over a long period of time okay so very simple we're not looking at real estate here so a net worth of eight hundred thousand dollars because yes when you have equity in your home it's a great thing to have you can pull that out for emergencies later we just want to isolate the financial assets that this couple has saved look at them spending sixty thousand dollars a year after tax with inflation uh inflation by the way we have it two and a quarter percent i'll touch on that in a little bit because we received some comments about inflation and health care costs now health care obviously is increasing a lot more than general inflation in the economy but we just want to isolate with these financial assets is that enough to answer the big questions can i retire stay retired and maintain my standard of living so when we look over here at a monte carlo analysis so this button what we're going to do is we're going to hit it it's going to run a thousand different simulations looking at a thousand different market returns over the course of time we just have them in a basic 60 40 portfolio again asset allocation is a big part of a successful retirement but we're just trying to to provide information based on what the majority of people out there are currently doing with retirement okay so this comes in at about 87 percent so 87 percent you may be saying well is that a good number is that a bad number the truth is it doesn't really matter too much it's just a snapshot in time what's most important with a financial plan and a retirement plan is that you stay connected to this over time when markets are up or down and you have various returns over time and you're spending money as well you run into what's called sequence of returns risk which is the combination of taking money out and market losses if you take out five percent you lose 20 you're down 25 percent in a single year now if that happens in consecutive years that's where the sequence of returns risk comes in when you're in the distribution phase of retirement so yes 87 percent i would feel comfortable myself retiring if this came in at 87 percent for me because that means 870 out of a thousand simulations i die with money now it's more nuanced than that of course but what's most important is that we're tracking this over time is it staying at 87 percent is it going up is it going down that's what's really important this is nothing more than a snapshot in time now when we start to look at before we get to the tax analysis i want to come over here to what's called the play zone in this particular software that we use and i like this because it shows what happens if we spend a little bit more money or less money how does that impact our probability of success so right now we have this couple spending sixty thousand dollars after taxes let's say they wanted to spend seventy thousand though seventy one look at the impact that this has it drops it from 87 to 41 that is a massive change in probability of success now what we would do in this situation if somebody wanted to spend 70 000 of course we can customize a plan where seventy thousand is spent maybe in the first five years seven years ten years with the intention of eventually tapering it back down to an inflation adjusted sixty thousand per year so inflation adjusted sixty thousand per year what does that mean well 60 000 today if you take that out of your portfolio it will buy more goods and services than if you take 60 000 out of your portfolio in the future this is a basic time value of money concept inflation erodes our purchasing power over time so to have the same purchasing power in the future of 60 000 today we probably need to pull out 68 69 70 71 000 something in that range we'll actually look at this in a second but the 70 000 this assumes we spend 70 000 today after taxes and it's just inflating at two and a quarter percent over time now i said i would talk a little bit about inflation and right now what's going on as i record this video is we are going through a period of a bit higher inflation in some areas other areas we absolutely don't have any serious inflation the truth of the matter is whatever you believe inflation to be when we customize a plan like this for you we can look at various amounts of inflation but if you start to put it out at four five six seven percent it's very likely you're not going to have enough money to keep up with that level of inflation unless the investment returns are that or greater now positive news there is typically in high periods of inflation stocks have performed well but when we look at inflation inputs and inflation estimates it's been 12 plus years where general inflation in the economy has been under 2 we are starting to see some inflation now most experts believe that it's transitory and by the time we get to next year inflation should normalize but we'll see most importantly again what we do is we stay connected if inflation does start to to sustain itself in a way that gets above two and a half three three and a half four percent well that's why we have a financial plan we start to adjust for those changes same thing with taxes same thing with markets same thing with everything in retirement our health our goals and in the circumstances we find ourselves in they change throughout retirement that's why when we look at something like this it's just a snapshot in time we need to be able to be flexible and pivot based on whatever circumstances come our way okay so taxes i want to look at taxes now we have this this is a different software that we use to look at taxes we'll overlay this software and the outputs from this one to the other software along with a few other ones that we use then of course the human element is the most important when combining all of this together but what we're looking at here is the top 100 distribution strategies for this same couple number one tax planning and income distribution scenarios the number one ranked strategy of course is up top it shows an estimated ending balance of 663 000 and taxes paid over the course of retirement of 42 sixty so ending balance of six sixty taxes paid of about forty two thousand if we come down here to the very lowest ranked strategy so i went to number eleven it's number 101 ranked cumulative taxes 156 000 with an ending balance of 170.

so that's over a 500 000 or so change in an estimated ending balance and a hundred thousand plus in additional taxes paid what's cool about this software is it isolates everything else except your distribution strategy how much are you taking from the ira how much are you taking from the non-ira are you doing any roth conversions so being able to isolate everything else and just looking at those variables shows us very clearly that the tax planning and income planning component for this couple in this scenario john and jane is extremely important it's the difference isolating everything else between finishing with about a hundred and seventy thousand estimated or six hundred and sixty thousand so as you can see income planning tax planning play a very critical part in the overall retirement plan this software that we looked at over here this one is assuming what we call a conventional wisdom distribution strategy now this software is that's the software's weakness this does not do a great job tax planning but when we overlay the tax planning software with the financial planning software here when we get the 87 percent and we get it all done this gets it up to 90 95 96 99 a lot of times the big takeaway here is that retirement is not just about your investments it's about having a plan that looks at your investments and manages risk but also generating income tax planning and health care planning along with estate planning estate planning is very important if it matters to you what happens to your assets when you're gone so we always keep a link in the description if you want to reach out to us set a consultation have a phone call and see if this type of planning is appropriate for you it may not be appropriate for you you may not be a good fit for what we do and that's okay hopefully we still can provide value and help you become a great have a greater understanding of retirement but if you do want to talk to us there's a link below you can schedule an appointment and of course share this video with a friend or family member hit that subscribe button and thumbs up if you liked it and if you don't like it hit the thumbs down that's fine too and if you leave a comment we're gonna make an attempt to address those comments in one big video of course we can't respond to every single comment or provide personalized financial advice but feel free to comment below that helps you to know that there's engagement with this video and they'll help share it with others so they can learn as well

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60 Years Old and Nothing Saved for Retirement – Top 12 Recommendations

moshi journal of the war about version 5 and her dick or nothing save time and in this video i will give you my top 12 recommendations from to gather épisode and the phoneshop s line my name is lynn mines and today we're talking about how you so I you're getting only star junior with over fifty with that over fifty5 maybe you our die in your sixties and now I have little or no 10 series time it i'm going to give you 2 tbsp specifics you can your original is concern there's no de jorna loon and it's never too late many people a coaching time lady finance even in the situation where we have the timing so stupid now arjan yourself in the beginning inge you where you were young just can't get by make and smeet more history family of chipper tells us times is a medium and helps and must collins take the pan yourself fit the sun tremor sixty thumping when in more detail with your juice at lower netting seyfried time and of course start in early there is a storing late but you can make up Alaska hands and math eyeshadow in situations unique and what works for one person may not work for another for coastal regions with the Parisian this video is the ghibli some practical ideals and strategies to consider this there can make a very big difference to you in your goal detail majors number 2 tap in the toori of your situation and then for your timeline that you already have the passado de is how shampoo pure fifty five singlet hero that had ten years before your sexy woman and 14 use the force that you can campus aladdin 14 years old and earth 3 vai dealers bart herbed be focused in that can we have plans at in the greatest az is your building churn and income that have income or the ability to become i can there is your goals english is not about how much you earn is what you chi the mathers new be surprised with him the people with high income i am super icons the wrapper elearning c at the front you'll be surprised at how many people with barry but is it war incomes have surprising the size ball to the ponies alice ivory terms and they financial planner eyes i head in the spectrum and him force me to the moon and more the natural tennessee is to spend more the global fund yogis and there you have to use your browser necessary expansions we already bread igor inputs and leslie protest you the cancer your channel effectively protest with old plans in moscow color go recommendation numbers 3 is 10 million numbers in economies way glowing you don't want your card in flow and url flow the income and expenses the calving budget through budget is to work parking were many people feel like folding budget is even though he has the you a bit suggest that you change through you want a lot budget of this chickens the the learns that helps keep it simple in a simple traces this is t still a nice way going nb controlling nice way glowing knowing you manage there you have to do a major a bit of the beak you often in thatcher fray recommendation number for completing journey they spend in arnhem with commitment to check all here tension quarter idea for what of the next perfect and min truck every penny you can simple idea what the pc' pepper donor come together or if you like i can download spending a dead spreadsheet the week savior it is very simple harpel toe an excel spreadsheet designed with purpose it free download and there is a link in the description below then I had a garden but my deesje number five is nipping the bud back online now I have to have color that is a bucket of income Camille and wedges Gillingham someone who will be empowered to make some changes the girl with me for middle what would be like if you were able to all your income or in other words i had no expenses there already fine and zeros the snowfall wants is thing you sent with your kids and corn oil in best oil that can be put in there someone for the nex-5t and 14 hours how much of nfc can you use your kimeli i would be a significant amount of money you should just think brain recommendation number sex this is the great and pink outside the box' the monsieur with your personal story but wait after bad guys mother pork royce duns with the laitman i did not prevent from being married and wooden awww man by professor locking must contain you won't you make and slammed and my new be challenging to be white and were determined to face life's challenge is what have they may be together have us leather yes we quiet small the finish my schooling and and there was also a full-time mother in singapore my and who weatherman etc to buy pearls you have to nemaattori in which comics people's saving 1 hour marie are to us in possible this is where we share the great if my biggest expence was rather fmri buddy we start to think boys republic loses when we get older and someone moving in with parents with the waif into small children and this point was after the bible option borsato time but we were determined to find a way to fool cycles likes people's so had to oil brainstorming my wife the BBC note the cursor church ring and she love to visit and care for elderly people save him from when in the elderly people there or in arcen who live in her home alone but he brings the point where can I assisted living and promised him and walked into a system care provider call when this weekend find someone there would be okay in the care provider game with the nekberghe into small chill you should never have anyone doing anything like this before I decided to take two mothers, in theory it is not acres of course this was washable before the Joline and anyway Glenn in there in the classroom white section to local newspaper who were surprised to see paths have that and Kohl's of people looking for loving care providers for the Cairns region billion more than one will be a rapper who with the first internship family Michel Nabertherm and in the film about who was new in elderly managers nine who are here three scraper from the strip company such a process and are now immediately since i was a barry k instrument the absolutely chill me you guys inside toe story home is the goal john their upper room and board we persisted full basement where films in refrigeration all utilities and my life was able to the shopping there is through and provide the not the care and they also peter siks to that per month additional the green office for and minimal when in love for the us complete guangzhou and sultry amical him only two in my wife's arms my i'm so my work this experience was a more photos on tags mother able to dry cycles so ark spencer's and even inc research then you have when you have to set it forward denpa one has to have brother first even the meteo another creative at work story and couple in sixty one very little c free time by a thousand glasgow and well it is in can was do you want that sylla bolhuis entire career day a creative and create aggressive client to do love them to reduce turkish patches bonnie lies and that person first rebirth desolder iphone how the plants downsizing santing was expensive to measure in d axl in blood in a world order good working part-time radiation the joris school and taking care for two worlds to that archer and her beds sharing to the chances and providing their father and son for the stereo period in t league dark gray coach the little one helps immensely because of that is sure of pain patient care and newer etc and that person or drink or two you could this was a big boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh my dough is in the cell and the workbench is there through the gates the age of 16 5s am that arbitrary their the advertisement wiser the plague this was my social security designated the full of time 161 5 is the moment the camel is want medicare prepared the sweet this would be tender how they live single in long Canadian and seven d is the new sixty-five we want you longer and that as the you or your spouse winter nineties and pianists cisticola hi hi er de may be putting the ship live the life you might be cross minnie beebe wants nme people in their voice and i still working sam micro sd not the income else because they eat simple in joy working in samsung not uncommon for a person to retire political board and to go back to work dear cousin oil pt if you will italian the media kühtai er from the wine and findi control idea of ​​tai chi chuan sint in de us better no ikke star the site has a small business or Samsung of the media budget that was there in future episodes and the Easter shop s line the plan back track mini on the procedure is the you could consider hats another reason why am I would consider subscribing to this channel you have a recommendation number is called the lion styling socials curry benefit's je keyword longer you're able to the lego scribes sander this can increase the size of the features of three benefit's in a link boys what is your had longer and burning history the youtube app storify earth delivery here the to work can make a big difference if we now the reader jury benefit's beyond for him agree you also can earn the darcy types of life timing grads the size of your social benefits can be much a larger my what you do is that you don't want to have the good social studies trying to better understand our social security de lions time and credit work and for a customized social studies strategy presses live for you and i can go to social security line thanks to humor committee recommendation number name is john try physical and mental half dat satin cherry lifestyle list you the soul and the soul we bring the youtube and ashoka's times in physically and mentally fit maybe the most pointing you can take your time and we fill the new ipad you will have more energy you will and send your ability to work longer and to earn longer the benefits and exercise and the help of a church documentation number 10 is the haafidh 14 yourself a lot in your future the Muslim program 14 god gray and amazing things kabir kampen list aldo and meeviel roaming and even in possible that thing is a possible yo and more people and you think you're stronger than you think your mark reason that I think in your child your heart drinks you can overcome in a challenge to you for your mind 2l and Disclose of halloween there wilcox there is no chance no destiny no fact that a circular or nuisance or control the family room of that term a solo house inc your team live in Rijswijk and wayside DVD and you programmer penetrate from your bed show more you can series b there is 0 chads no destiny no fact that incident or hinder or control the cinema have that term and so recommendation eleven is the never stop learning the caribbean form and good books you have the number weather widget my bible on by george glitchen avatar der that along when we see 10 king bridge in the poll in very bizarre motivational a sparing angry am already you ca n't lean was bummed best be so a universe alone there a porn touch religions when comes to actually saving you fire a rat race for my kees with ketchup contributions and have all those videos the goal indeed that when CDA Lyceum in the most active Chile plausible and new of course will be wise in all-wheel of the people who left together the box that Redman in description below environments and 12 is the overflow you have a strategy Aramis Aegon reconversion mortgage it is a time rather in the morning that does not allow the needs to change the renewed hypes or rather in the morning the app more options and more flexibility in the queue the building fifty percent and King Johan and new loses a sixty-two that gate and in a purely morgens payments so I think there is a lot of humor morgens payments you may also be able to establish a tax free stream income the social media tyme come and get to the time in this video to go nobody yourself you can le morvan my book in chernaiev i only online those managers on the fences it is how a strategy cleo public gamechanger pio in your timing you have the toilet in my book while volumes on the books style the holistic time and prime revolution i can also just by the amazon search online a lame arm and your van de bin this is like rats link in the description below so you learn have my god of recommendations if you about fifty five and him just thing super terms definis par des video beneficial have the runs and oh please add a comment dumbell lo domino what sterile and actually to see your in the next episode or the financial pipelines [Music] [ Applause] [ Music] [Applause] [Music]

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60 Years Old and Nothing Saved for Retirement – Top 12 Recommendations

moshi journal of the war about version 5 and her dick or nothing save time and in this video i will give you my top 12 recommendations from to gather épisode and the phoneshop s line my name is lynn mines and today we're talking about how you so I you're getting only star junior with over fifty with that over fifty5 maybe you our die in your sixties and now I have little or no 10 series time it i'm going to give you 2 tbsp specifics you can your original is concern there's no de jorna loon and it's never too late many people a coaching time lady finance even in the situation where we have the timing so stupid now arjan yourself in the beginning inge you where you were young just can't get by make and smeet more history family of chipper tells us times is a medium and helps and must collins take the pan yourself fit the sun tremor sixty thumping when in more detail with your juice at lower netting seyfried time and of course start in early there is a storing late but you can make up Alaska hands and math eyeshadow in situations unique and what works for one person may not work for another for coastal regions with the Parisian this video is the ghibli some practical ideals and strategies to consider this there can make a very big difference to you in your goal detail majors number 2 tap in the toori of your situation and then for your timeline that you already have the passado de is how shampoo pure fifty five singlet hero that had ten years before your sexy woman and 14 use the force that you can campus aladdin 14 years old and earth 3 vai dealers bart herbed be focused in that can we have plans at in the greatest az is your building churn and income that have income or the ability to become i can there is your goals english is not about how much you earn is what you chi the mathers new be surprised with him the people with high income i am super icons the wrapper elearning c at the front you'll be surprised at how many people with barry but is it war incomes have surprising the size ball to the ponies alice ivory terms and they financial planner eyes i head in the spectrum and him force me to the moon and more the natural tennessee is to spend more the global fund yogis and there you have to use your browser necessary expansions we already bread igor inputs and leslie protest you the cancer your channel effectively protest with old plans in moscow color go recommendation numbers 3 is 10 million numbers in economies way glowing you don't want your card in flow and url flow the income and expenses the calving budget through budget is to work parking were many people feel like folding budget is even though he has the you a bit suggest that you change through you want a lot budget of this chickens the the learns that helps keep it simple in a simple traces this is t still a nice way going nb controlling nice way glowing knowing you manage there you have to do a major a bit of the beak you often in thatcher fray recommendation number for completing journey they spend in arnhem with commitment to check all here tension quarter idea for what of the next perfect and min truck every penny you can simple idea what the pc' pepper donor come together or if you like i can download spending a dead spreadsheet the week savior it is very simple harpel toe an excel spreadsheet designed with purpose it free download and there is a link in the description below then I had a garden but my deesje number five is nipping the bud back online now I have to have color that is a bucket of income Camille and wedges Gillingham someone who will be empowered to make some changes the girl with me for middle what would be like if you were able to all your income or in other words i had no expenses there already fine and zeros the snowfall wants is thing you sent with your kids and corn oil in best oil that can be put in there someone for the nex-5t and 14 hours how much of nfc can you use your kimeli i would be a significant amount of money you should just think brain recommendation number sex this is the great and pink outside the box' the monsieur with your personal story but wait after bad guys mother pork royce duns with the laitman i did not prevent from being married and wooden awww man by professor locking must contain you won't you make and slammed and my new be challenging to be white and were determined to face life's challenge is what have they may be together have us leather yes we quiet small the finish my schooling and and there was also a full-time mother in singapore my and who weatherman etc to buy pearls you have to nemaattori in which comics people's saving 1 hour marie are to us in possible this is where we share the great if my biggest expence was rather fmri buddy we start to think boys republic loses when we get older and someone moving in with parents with the waif into small children and this point was after the bible option borsato time but we were determined to find a way to fool cycles likes people's so had to oil brainstorming my wife the BBC note the cursor church ring and she love to visit and care for elderly people save him from when in the elderly people there or in arcen who live in her home alone but he brings the point where can I assisted living and promised him and walked into a system care provider call when this weekend find someone there would be okay in the care provider game with the nekberghe into small chill you should never have anyone doing anything like this before I decided to take two mothers, in theory it is not acres of course this was washable before the Joline and anyway Glenn in there in the classroom white section to local newspaper who were surprised to see paths have that and Kohl's of people looking for loving care providers for the Cairns region billion more than one will be a rapper who with the first internship family Michel Nabertherm and in the film about who was new in elderly managers nine who are here three scraper from the strip company such a process and are now immediately since i was a barry k instrument the absolutely chill me you guys inside toe story home is the goal john their upper room and board we persisted full basement where films in refrigeration all utilities and my life was able to the shopping there is through and provide the not the care and they also peter siks to that per month additional the green office for and minimal when in love for the us complete guangzhou and sultry amical him only two in my wife's arms my i'm so my work this experience was a more photos on tags mother able to dry cycles so ark spencer's and even inc research then you have when you have to set it forward denpa one has to have brother first even the meteo another creative at work story and couple in sixty one very little c free time by a thousand glasgow and well it is in can was do you want that sylla bolhuis entire career day a creative and create aggressive client to do love them to reduce turkish patches bonnie lies and that person first rebirth desolder iphone how the plants downsizing santing was expensive to measure in d axl in blood in a world order good working part-time radiation the joris school and taking care for two worlds to that archer and her beds sharing to the chances and providing their father and son for the stereo period in t league dark gray coach the little one helps immensely because of that is sure of pain patient care and newer etc and that person or drink or two you could this was a big boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh my dough is in the cell and the workbench is there through the gates the age of 16 5s am that arbitrary their the advertisement wiser the plague this was my social security designated the full of time 161 5 is the moment the camel is want medicare prepared the sweet this would be tender how they live single in long Canadian and seven d is the new sixty-five we want you longer and that as the you or your spouse winter nineties and pianists cisticola hi hi er de may be putting the ship live the life you might be cross minnie beebe wants nme people in their voice and i still working sam micro sd not the income else because they eat simple in joy working in samsung not uncommon for a person to retire political board and to go back to work dear cousin oil pt if you will italian the media kühtai er from the wine and findi control idea of ​​tai chi chuan sint in de us better no ikke star the site has a small business or Samsung of the media budget that was there in future episodes and the Easter shop s line the plan back track mini on the procedure is the you could consider hats another reason why am I would consider subscribing to this channel you have a recommendation number is called the lion styling socials curry benefit's je keyword longer you're able to the lego scribes sander this can increase the size of the features of three benefit's in a link boys what is your had longer and burning history the youtube app storify earth delivery here the to work can make a big difference if we now the reader jury benefit's beyond for him agree you also can earn the darcy types of life timing grads the size of your social benefits can be much a larger my what you do is that you don't want to have the good social studies trying to better understand our social security de lions time and credit work and for a customized social studies strategy presses live for you and i can go to social security line thanks to humor committee recommendation number name is john try physical and mental half dat satin cherry lifestyle list you the soul and the soul we bring the youtube and ashoka's times in physically and mentally fit maybe the most pointing you can take your time and we fill the new ipad you will have more energy you will and send your ability to work longer and to earn longer the benefits and exercise and the help of a church documentation number 10 is the haafidh 14 yourself a lot in your future the Muslim program 14 god gray and amazing things kabir kampen list aldo and meeviel roaming and even in possible that thing is a possible yo and more people and you think you're stronger than you think your mark reason that I think in your child your heart drinks you can overcome in a challenge to you for your mind 2l and Disclose of halloween there wilcox there is no chance no destiny no fact that a circular or nuisance or control the family room of that term a solo house inc your team live in Rijswijk and wayside DVD and you programmer penetrate from your bed show more you can series b there is 0 chads no destiny no fact that incident or hinder or control the cinema have that term and so recommendation eleven is the never stop learning the caribbean form and good books you have the number weather widget my bible on by george glitchen avatar der that along when we see 10 king bridge in the poll in very bizarre motivational a sparing angry am already you ca n't lean was bummed best be so a universe alone there a porn touch religions when comes to actually saving you fire a rat race for my kees with ketchup contributions and have all those videos the goal indeed that when CDA Lyceum in the most active Chile plausible and new of course will be wise in all-wheel of the people who left together the box that Redman in description below environments and 12 is the overflow you have a strategy Aramis Aegon reconversion mortgage it is a time rather in the morning that does not allow the needs to change the renewed hypes or rather in the morning the app more options and more flexibility in the queue the building fifty percent and King Johan and new loses a sixty-two that gate and in a purely morgens payments so I think there is a lot of humor morgens payments you may also be able to establish a tax free stream income the social media tyme come and get to the time in this video to go nobody yourself you can le morvan my book in chernaiev i only online those managers on the fences it is how a strategy cleo public gamechanger pio in your timing you have the toilet in my book while volumes on the books style the holistic time and prime revolution i can also just by the amazon search online a lame arm and your van de bin this is like rats link in the description below so you learn have my god of recommendations if you about fifty five and him just thing super terms definis par des video beneficial have the runs and oh please add a comment dumbell lo domino what sterile and actually to see your in the next episode or the financial pipelines [Music] [ Applause] [ Music] [Applause] [Music]

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The 5 Most Important Years Of Your Retirement

as a parent when you have your first child there's no shortage of people to remind you just how important the first five years are of your child's development unfortunately there's no similar Network there's no similar information source for us as we retire what are the most important five years of your retirement so I'm gonna hope to break that with today's video let's go for a walk and I'll I'll share my thoughts with you with you having been a fee only financial advisor for over 20 years now and I'll I'll cut right to the chase I think the most important years just like with your child are the first five years and I want to share that you know this is a big transition if you're thinking about retiring if you're getting close to retiring this is a big transition you think about like you know a long time ago maybe when you first left home whether you went to college or you developed a trade and you went off on your own to start quote unquote adulting the transition from high school to college where you put everything you own in a couple suitcases and you say goodbye to the the people that have been nurturing you for for your entire life that's a big big transition I'm sorry that background noise is a train you really can't see it but it's there okay so that's a big transition and the transition to retirement is every bit as big right I mean it's it's the whole world that you've known for a long long time and just like with a teenager uh or a young adult heading off to college your identity is about to change as well so you know the it's a big transition but it's important that you jump in with both feet it's important that you start off on the right track and you know one of the keys is is to understand what your goals are what your hope you know what you're going to stand for what you're hoping to do in retirement not that you have to have a to-do list but you know these are the things that are important to me as I retire and you can update them for instance for me um for me I I kind of when my day comes to retire I'm not retired yet but when my day comes to retire the things that I have thought about that are going to be important to me and are important to me now are number one relationships um you know when you work unfortunately you're not able to spend as much time with the people that you love and you care about so I'm hoping to spend more time with my adult children I'm hoping to spend more time with my wife and with with friends that mean a lot to me that unfortunately right now I'm not able to spend a lot of time with so I want to spend a fourth of my time on relationships I want to spend a fourth of my time on my health having your health is really key once you lose your health you know it's a retirement's gonna look very different for you so doing what I can to eat in a healthy way to work out regularly to keep my health is going to be important then I've always been a lifelong Learners so I want to continue to learn so a fourth of my time on relationships a fourth of my time on my health a fourth of my time just learning I just love learning and then a fourth of my time as a teacher and that's part of what this YouTube channel is is is giving back and and sharing with folks I'm fortunate what I've spent my life my life's work is something that uh brings value to a lot of folks it's not it feels like common sense to me because I've been doing it my whole adult life just like whatever you've been doing most of your adult life probably feels like common sense to you so it's important to jump in with both feet it's important not to be frugal you don't have a financial plan and know what your goals are and you know many regular viewers of my channel right we're good Savers um we're good at identifying what our goals are and saving towards those but I don't want you to be frugal and it's natural I'd say well over half of people you know whatever their budget is whatever their plan says that they can spend they end up you know still saving 25 or 30 percent of that and don't do that right it's it your whole life has been a balance between current you and future you and now this is your future your uh the future you so be sure to spend that money and enjoy it these are your healthiest most active years uh I also think it's uh it's it's good to have a financial plan if you don't have a plan boy it's really hard to know how much money you can spend and you know a lot of people are sacrificing unnecessarily you don't want to do that you don't have to do that so have a financial plan and have a plan a time plan um that I already talked about right think about how am I going to spend my time 24 hours a day is a lot of time right a significant part of our life has been spent at work okay other reasons why the first five years are super important there's some big decisions that need to be made in the first five years let's say you're 60 and um and you're retiring early a lot of viewers of my channel are hoping to do that or you're 62 or 63 you know there's some big decisions that need to be made between you know let's the first let's say 60 to 67 60 to 68 even above that but you know Medicare Medicare is not as easy as just raising your hand saying hey government you know I'm 65 years old now I'd like my medic I'd like my medicare right you have to decide do you want your uh traditional Medicare or do you want what's called Medicare Advantage which is a great marketing name uh traditional Medicare is provided by the government Medicare advantages is provided by a private company and you can change your mind on that but if you go with traditional Medicare uh it has a twenty dollar deductible for Medicare Part B and you can you can buy Medicare gap insurance and normally outside of a few exceptions you have to go through medical underwriting to be approved so if you have a pre-existing condition an insurance company can deny you the meta the Medigap insurance but when you first qualify for Medicare I am not a Medicare specialist but you have a six about a six month window where you don't have to go through the medical underwriting you get an exemption for that so that's a big decision also when you're going to start taking Med uh when you're going to start taking social security is a big decision so the first five years are important another reason is because you've got these big decisions that you have to make and then unfortunately this is just a reality that we all face in the first five years we Face what's called sequence of return risk it turns out that having negative returns having bad stock market returns in the early years of our retirement are have some of the biggest impact as to whether our financial plan is successful or not and none of us know what the first five years are going to be like but that's one of the reasons that the first five years is so important another thing that's important if you're interested in this topic is to watch this video up here that talks about five reasons to uh it talks about I'm sorry average income for retirees and this video down here that talks about five reasons to retire as soon as you can thanks for watching bye bye

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Retirement Planning: I’m 66 Years Old With $800,000, Can I Retire?

we all want to know do we have enough can we retire and how long will our money last well the key in retirement is to compound good decision after good decision and what that does is that helps to optimize your overall retirement assets and increase the probability that you do have enough and you can retire and most importantly you don't have to to live with anxiety throughout retirement worrying if you have enough or not in this video we're going to look at a 66 year old with 800 000 saved and really get into some of the nuances of different decisions that have to be made in the potential outcome of those various decisions [Music] hi i'm troy sharp ceo of oak harvest financial group certified financial planner professional host of the retirement income show and certified tax specialist the purpose of these videos is to help get you thinking along the lines of what decisions need to be made and how they are all interrelated from social security to health care to investments in asset allocation to managing risk to taxes to really get get you thinking about all the decisions that have to be made and how one decision impacts other decisions as we go through these what you'll start to see with retirement is that it's just as much an art as it is a science because everyone's situation is so unique everyone's circumstances are so different so we're going to look at some different variables here but we're going to start out with some very basic ones so first we have john and jane just a sample case male female both age 66 and just retire now we're in texas so we put texas as a state residence but obviously if you live in a state with an income tax a state income tax there would be a little bit different scenario but that's why the customization is so important okay so retirement period so we like to assume a long life expectancy and the reason is that the age 85 population segment in this country is the fastest growing population segment out there also according to pew research which i brought this article up here when we look at the projection of growth this is the estimated number of people over 100 years old over the next 30 years in 1990 there were 95 000 people over age 100.

In 2015 451 thousand by 2050 this is a pew research study by the way 3.6 million people estimated to be over the age of 100. this is advances in science and technology and medicine and treatment to help people overcome various diseases that they may they may find themselves with in retirement so underestimating life expectancy is a big mistake for a retirement planner because if we plan for 95 or 90 and you don't make it that far well you have that money you're secure but if we plan to 82 and you make it to 90 well guess what that's a big problem so when we talk about life expectancy this is one of the pieces of financial planning that is specialized to you and yourself you know your health you know your longevity you know what health problems you may or may not have of course we can customize this for your particular situation but most people from my experience underestimate the advances in medicine technology and science that will continue to extend our lives as time progresses we have treatment right now for various diseases and cancers that even five ten years ago we didn't have so underestimating our life expectancy is one of the big mistakes that people make now if you do have health conditions if you smoke if you drink you're probably not making it to 95 that would be customized for your particular situation but generally speaking i'd much rather plan for you to live to 95 and you don't make it there then plan for you to live to 85 and then you make it to 95 and then the plan obviously would be insufficient because there wouldn't be enough money to pay for health care to keep up with inflation taxes etc so that's why we put the life expectancies at 95.

okay this particular couple what we're trying to do is account for spending and retirement of sixty thousand dollars per year of course this is after tax so if most of your money is inside a 401k or an ira there is a tax problem there to get 60 000 out we have to pull more than that after taxes to be left with 60. healthcare this is the average medicare cost for a 66 year old couple in this country now it may be a little bit more a little bit less for you depending on your prescriptions and various out-of-pocket costs but this 9 400 this is the average including medicare premiums out of pocket costs for health care expenses for a 66 year old couple in this country okay so social security john has he will file his normal application at sixty six and a half and receive thirty six thousand dollars jane will then file spousal benefits in this scenario which is um a lot of times what we see working with clients where the husband files social security and then the y files for spousal benefits of course your situation may be different again this is where customization comes in but 36 000 and 18 000 are the social security benefits now here's something very important when we look at the breakdown in assets this is where retirement planning starts to get very very fun for us because it start it's putting that puzzle together but where it becomes very complicated for for most people because they don't understand the challenges that come with having too much money inside that 401k so we did a breakdown here six hundred thousand inside the 401k and 200 000 inside the brokerage account there are literally millions and millions of different ways that you could take retirement income from this breakdown of accounts you could take x amount from the 401k take x amount from the brokerage account brokerage of course when you say this this is a non-retirement account a non-ira optimization comes into play when we we are we identify what is the appropriate amount to take out of that 401k and what is the appropriate amount to take out of the non-ira in order to not just reduce taxes today but look at the impact over the course of your retirement which income distribution strategy makes the most sense for not only today but over the next 20 to 30 years so this is the breakdown here we're going to when we look at the tax analysis in a few minutes it's going to make a lot more sense we're going to look at the top 100 different income distribution possible strategies and the impact that they have over a long period of time okay so very simple we're not looking at real estate here so a net worth of eight hundred thousand dollars because yes when you have equity in your home it's a great thing to have you can pull that out for emergencies later we just want to isolate the financial assets that this couple has saved look at them spending sixty thousand dollars a year after tax with inflation uh inflation by the way we have it two and a quarter percent i'll touch on that in a little bit because we received some comments about inflation and health care costs now health care obviously is increasing a lot more than general inflation in the economy but we just want to isolate with these financial assets is that enough to answer the big questions can i retire stay retired and maintain my standard of living so when we look over here at a monte carlo analysis so this button what we're going to do is we're going to hit it it's going to run a thousand different simulations looking at a thousand different market returns over the course of time we just have them in a basic 60 40 portfolio again asset allocation is a big part of a successful retirement but we're just trying to to provide information based on what the majority of people out there are currently doing with retirement okay so this comes in at about 87 percent so 87 percent you may be saying well is that a good number is that a bad number the truth is it doesn't really matter too much it's just a snapshot in time what's most important with a financial plan and a retirement plan is that you stay connected to this over time when markets are up or down and you have various returns over time and you're spending money as well you run into what's called sequence of returns risk which is the combination of taking money out and market losses if you take out five percent you lose 20 you're down 25 percent in a single year now if that happens in consecutive years that's where the sequence of returns risk comes in when you're in the distribution phase of retirement so yes 87 percent i would feel comfortable myself retiring if this came in at 87 percent for me because that means 870 out of a thousand simulations i die with money now it's more nuanced than that of course but what's most important is that we're tracking this over time is it staying at 87 percent is it going up is it going down that's what's really important this is nothing more than a snapshot in time now when we start to look at before we get to the tax analysis i want to come over here to what's called the play zone in this particular software that we use and i like this because it shows what happens if we spend a little bit more money or less money how does that impact our probability of success so right now we have this couple spending sixty thousand dollars after taxes let's say they wanted to spend seventy thousand though seventy one look at the impact that this has it drops it from 87 to 41 that is a massive change in probability of success now what we would do in this situation if somebody wanted to spend 70 000 of course we can customize a plan where seventy thousand is spent maybe in the first five years seven years ten years with the intention of eventually tapering it back down to an inflation adjusted sixty thousand per year so inflation adjusted sixty thousand per year what does that mean well 60 000 today if you take that out of your portfolio it will buy more goods and services than if you take 60 000 out of your portfolio in the future this is a basic time value of money concept inflation erodes our purchasing power over time so to have the same purchasing power in the future of 60 000 today we probably need to pull out 68 69 70 71 000 something in that range we'll actually look at this in a second but the 70 000 this assumes we spend 70 000 today after taxes and it's just inflating at two and a quarter percent over time now i said i would talk a little bit about inflation and right now what's going on as i record this video is we are going through a period of a bit higher inflation in some areas other areas we absolutely don't have any serious inflation the truth of the matter is whatever you believe inflation to be when we customize a plan like this for you we can look at various amounts of inflation but if you start to put it out at four five six seven percent it's very likely you're not going to have enough money to keep up with that level of inflation unless the investment returns are that or greater now positive news there is typically in high periods of inflation stocks have performed well but when we look at inflation inputs and inflation estimates it's been 12 plus years where general inflation in the economy has been under 2 we are starting to see some inflation now most experts believe that it's transitory and by the time we get to next year inflation should normalize but we'll see most importantly again what we do is we stay connected if inflation does start to to sustain itself in a way that gets above two and a half three three and a half four percent well that's why we have a financial plan we start to adjust for those changes same thing with taxes same thing with markets same thing with everything in retirement our health our goals and in the circumstances we find ourselves in they change throughout retirement that's why when we look at something like this it's just a snapshot in time we need to be able to be flexible and pivot based on whatever circumstances come our way okay so taxes i want to look at taxes now we have this this is a different software that we use to look at taxes we'll overlay this software and the outputs from this one to the other software along with a few other ones that we use then of course the human element is the most important when combining all of this together but what we're looking at here is the top 100 distribution strategies for this same couple number one tax planning and income distribution scenarios the number one ranked strategy of course is up top it shows an estimated ending balance of 663 000 and taxes paid over the course of retirement of 42 sixty so ending balance of six sixty taxes paid of about forty two thousand if we come down here to the very lowest ranked strategy so i went to number eleven it's number 101 ranked cumulative taxes 156 000 with an ending balance of 170.

so that's over a 500 000 or so change in an estimated ending balance and a hundred thousand plus in additional taxes paid what's cool about this software is it isolates everything else except your distribution strategy how much are you taking from the ira how much are you taking from the non-ira are you doing any roth conversions so being able to isolate everything else and just looking at those variables shows us very clearly that the tax planning and income planning component for this couple in this scenario john and jane is extremely important it's the difference isolating everything else between finishing with about a hundred and seventy thousand estimated or six hundred and sixty thousand so as you can see income planning tax planning play a very critical part in the overall retirement plan this software that we looked at over here this one is assuming what we call a conventional wisdom distribution strategy now this software is that's the software's weakness this does not do a great job tax planning but when we overlay the tax planning software with the financial planning software here when we get the 87 percent and we get it all done this gets it up to 90 95 96 99 a lot of times the big takeaway here is that retirement is not just about your investments it's about having a plan that looks at your investments and manages risk but also generating income tax planning and health care planning along with estate planning estate planning is very important if it matters to you what happens to your assets when you're gone so we always keep a link in the description if you want to reach out to us set a consultation have a phone call and see if this type of planning is appropriate for you it may not be appropriate for you you may not be a good fit for what we do and that's okay hopefully we still can provide value and help you become a great have a greater understanding of retirement but if you do want to talk to us there's a link below you can schedule an appointment and of course share this video with a friend or family member hit that subscribe button and thumbs up if you liked it and if you don't like it hit the thumbs down that's fine too and if you leave a comment we're gonna make an attempt to address those comments in one big video of course we can't respond to every single comment or provide personalized financial advice but feel free to comment below that helps you to know that there's engagement with this video and they'll help share it with others so they can learn as well

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5 Retirement Tricks You Were Never Taught

these five ideas took me 20 years to find out as a financial advisor and also make sure to view them all since I don'' t recognize which ones are going to reverberate with you I can show to you number 5 is my personal favored but leave in the comments what your favorite is fine let'' s go with a stroll uh and the very first suggestion the initial suggestion uh that once again they didn'' t instruct us in college they didn'' t instruct us in secondary school and however life didn'' t educate me a lot of us these points we had to discover them on our own uh which is this is not our moms and dads retired life right we are healthier than our parents were uh travel is a fair bit more economical and easier today than it'' s ever been I ' ve been lucky in the last 3 or four years to be able to function from another location from 30 various nations and I can inform you my smart device had has actually made that experience so much simpler finding an area to stay obtaining from the bus or the trains terminal or the airport terminal to where I'' m remaining finding the the place that I desire to you recognize the cafe I wish to go to or the gallery or the basilica or you recognize whatever the visitor destination is it'' s a whole lot less complicated with the smartphone so uh this is not our parents retired life this is not uh resting around viewing tv and fishing I'' m not stating that every one of our moms and dads did that but the entire globe is open to us specifically publish covid ideal um is is travel is easier it'' s much less costly than ever before so product leading is this is not our moms and dads retired life if we considered our parents and claimed ah I'' m not exactly sure I ' m that excited about retirement I assume the sort of retired life we can have is is is is truly amazing and really interesting we have to do our homework to be prepared for it uh both financially along with mentally you recognize what does retirement resemble what are we passionate concerning what are we delighted concerning how are we going to invest the moment however if we do that research I think we have an actually fun-filled retired life to eagerly anticipate all right and second is is exactly what I simply shared which is you recognize we have to do our research and I I think we have regarding a hundred hours worth of reflective job that if we do that I believe we can uh really feel like we'' re well ready uh beyond the monetary facets for our return atmosphere and also then on top of that naturally the financial aspects are vital I would urge you to use a cost just monetary expert have a professional strategy prepared for you it doesn'' t have to be insane costly but you wear'' t intend to think that you ' re all right you'need to know that you ' re alright you ' re we economic advisors can not give you assurance however we can offer a lot of clarity simply Google cost only monetary expert near you I maintain claiming cost only monetary expert due to the fact that they have a fiduciary commitment to place your rate of interest ahead of their own 100 of the time as well as that'' s actually essential yet returning to second doing our homework it'' s not simply the finances of it you recognize it'' s what ' s your purpose going to be a great book to assist you consider your purpose is a publication called stamina stamina to strength by Arthur Brooks what are you going to do with your time you'' re mosting likely to have a whole lot of time in retired life and what are things that are really vital for you as well as simply check out the collection of videos that that I carry YouTube I'' ve I ' ve covered this topic uh several times and various other YouTubers have also so think concerning exactly how you'' re mosting likely to invest your time I can show to you high degree after doing a whole lot of reflective work as well as having actually guided other individuals via it right I indicate you simply can'' t aid yet also think concerning you know how does every one of this apply to my scenario the four areas that I'' m very fired up regarding during retired life is number one having time for connections I have a mom who'' s 87 years of ages lives a pair thousand miles away I was privileged adequate to be able to invest two weeks being a type of her key caretaker were my sis uh went on vacation finally it had been the pandemic because before the pandemic that she'' d been able to take a vacation so connections and also buying partnerships the time for that I'' m looking for or 2 as well as all for me every one of these are burglarized concerning a four so there'' s four of these the 2nd one uh is taking taking care of my wellness doing what I can to remain healthy because uh retired life is mosting likely to be a heck of a whole lot more fun if I'' m healthy so uh a 4th of my time on wellness and after that I'' m a long-lasting student I like learning so understanding is is continuing to discover proceeding to enroll uh proceeding to simply find out brand-new points I'' ve done numerous points I uh when I was much younger I was uh taking flying lessons and I'' ve actually obtained the score that you require to work for the airlines I instructed myself just how to code this YouTube thing so remaining to learn is essential to me and after that the fourth area is giving back as well as as well as for me that that suggests points like this YouTube channel right uh teaching as well as mentoring and mentoring and sharing the expertise that I have uh with people that I believe it can aid so those are the four areas for me that'' s what ' s right for me it'doesn ' t'mean that it ' s right for you um let ' s see and after that the the last one regarding preparing your research is you understand if you reside in the USA we need to think of what are we mosting likely to do for healthcare insurance up until we'' re 65 as well as you understand there are people that can aid you keeping that the only financial advisors can assist you with that said there'' s Professionals that focus on this area however there are remedies to that so however do your research before you make the leap you wish to see to it you'' ve got that base covered all right number three uh the number 3 concept um here that no one educated you regarding retirement uh as well as I suggested to it in the last thing which is wellness is more crucial than riches you understand actually actually do what you can we you know we can'' t prevent cancer cells we you understand we can do what we can we can eat right we can exercise we can do all of those things uh and as well as hopefully that will certainly aid maintain you healthy and balanced longer as well as with any luck fend off any of these terrifying illness that none of us desire alright so simply do what you can to remain healthy number number four is um you you don'' t need to fully retire right if you have a lot of stress at job um if if you'' re prepared for a change of pace if you'' re close financially and also you wish to make the jump you understand there there are part-time work out there there are side hustles out there that you can do side businesses that you can start uh so if you'' re close to retirement if you ' re like boy I ' d really like to retire earlier as opposed to later it doesn ' t have to be uh All or Absolutely nothing there'' s other means to make earnings and also the concern is you understand is is 50 totally free far better than no percent free on being retired you understand could you take a seasonal work as well as perhaps just work 3 months out of the year I stated in various other videos when my youngsters were more youthful I made use of to instruct a handful of weekends winter sports uh at a regional ski hotel so my whole family would obtain free ski tickets but there are these seasonal jobs and also is it much better to be 50 complimentary 80 percent free as well as work seasonally or function part-time work 20 hours a week so as to get health treatment advantages points like that so as well as there'' s no right or wrong solution it'' s just you know depends on um uh what'' s right for you fine number 5 as well as I'' ve obtained a Reward one below so put on'' t wear ' t uh disappear after number 5 uh before we obtain to number five if'you ' re enjoying this video please offer me a like uh the thumbs up it does assist the YouTube algorithm discover other individuals that ideally my channel can assist number 5 um is it'' s okay to have a back-up strategy you recognize pertaining to um number four you know maybe you think you have sufficient cash to retire or you intend to save uh a buffer and you'' re gon na work an additional two or 3 years to get this buffer uh and also you recognize what having a little money having this pillow makes a lot of feeling but you obtained to take care due to the fact that one year can conveniently develop into three or 4 years um so possibly you'' re in rather of having that buffer you have a backup plan where you'' re gon na have a part-time work you'' re mosting likely to have a you ' re mosting likely to develop a side rush if you need to in order to give yourself that barrier if if you hop on the unfortunate side of series of return risk which is when the market is adverse for very first couple years of of retirement or in the very first couple of years of retired life because that'' s when your sum of cash is the greatest uh it'' s when you ' re most prone to unfavorable returns and also as well as none people understand if if we'' re going to get hit with that or otherwise however perhaps the barrier possibly the insurance coverage if you will certainly versus that is a readiness to function part-time or to produce a side hustle business if you do get struck by that all right and afterwards the last thing I intend to leave you with and also it'' s it ' s a stating in my industry um you for lots of people they put on'' t require more money they just require a plan they need a tactical plan what are the important things that are vital to you what are those things mosting likely to cost and afterwards just how do you accomplish those and also you know I truly motivate you to connect to a cost only monetary advisor as well as state Below'' s my scenario can you aid me assume via am I am I shut to being able to retire are there things that I'' m not considering that might enable me to retire sooner as opposed to later on and to find a cost only monetary advisor just Google one I maintain saying charge only economic advisor because they have a fiduciary obligation to you as well as that'' s essential so I hope this video clip has actually been useful if you'' ve appreciated this one I understand you'' re going to enjoy this video clip up right here that speak about the ordinary earnings for senior citizens in America and also this video down below that talks regarding five factors to retire as quickly as you can many thanks for seeing bye bye

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