I help people prepare financially & mentally for retirement
Hi, I'm Azul 👋
I been a financial adviser for 20+ years. I'm on a mission to help 10+ million people be thoughtful and deliberate about when they retire.
Here is why ...
At 60 years old, we likely have less than 1,000 weeks of healthy active time remaining in our lives. That is it. When this time is gone, it is gone. Likely forever.
If you love your job, great. Maybe, like Warren Buffett, you never retire. But, if you do not love your job (and I mean REALLY LOVE IT), I implore you to be thoughtful about when you retire.
Do NOT simply coast on autopilot through what may be your last 1,000 weeks of healthy active time. Have a sense of urgency. Be thoughtful. And consciously choose what you want to do.
Most of all, Do Not Waste the Youth of Your Senior Years®
⚠️ This channel is for educational purposes only. It is not investment nor financial advice. I encourage you to work with a fee only financial adviser ⚠️
Regarding Rule of 55, also check with your employer HR department since companies ARE NOT REQUIRED to offer it and many do not, in order to prevent a brain-drain. But if they do, it is much more advantageous than the 72T rules, since that IRS deal is only meant to be used on an emergency basis, and therefore is much more restrictive on how you withdraw your money. It also locks-up your capital used as 72T for 5 years I think.
56'er here, fairly early GenX. Saving the max and paying extra to get the house GONE at 62. My spreadsheets show me doing just fine even though I started only about 10 years ago. Granted, the pension will be a big help down the road.
As one of the last generation of the babyboomers, a couple months to 62 years old, i don't expect to get social security, it will be all gone. I did get to take care of my father in his last years and having to place my mother in a very good care home because of her Alzheimer's, then my dads heath care from being bed ridden for a year before he passed, just about completely wiped out not only their savings, but most of mine. I am resigned to having to work for the rest of my life.
She's nuts. I'm 64 and have been retired two years. I am living comfortably on SS and a small pension. I currently have about $640K in investments and savings and haven't touched any of it yet.
I have always wondered if the retirement account balance numbers are skewed by people having multiple 401K accounts or IRA accounts. If these numbers are from Fidelity then when they have an IRA outside of the 401K due to switching jobs a few times than this is not anywhere close to reality. I think this is misinformation by lack of real data and it is painting a Domesday outlook and/or giving false confidence to ones who are closer to $250K.
But why does "taking full advantage of the youth of your youth" have to involve spending a ton of money? The best years of my life were when I was a penny-pinching grad student living on $20K a year. I didn't live in a box, but I DID spend a lot of time seeking out ways to enjoy life that cost little to no money. And I didn't feel like I was sacrificing anything, because all my friends were also penny-pinching grad students living on $20K a year. When I graduated and started earning more money, I kept up many of the same attitudes and habits - and now I'm 46 and on the cusp of financial independence.
51. I live way beneath my means in a crime infested neighborhood. I don’t drive a fancy car. I don’t take extravagant vacations. I put 31% of my income into investments. It sucks living this way but it should pay off in the end. Unless the Dems raid my retirement, which very well could happen, I should be okay.
Lol 52 years old I took over my dad's commercial sign business 20 years ago and had viable clientele and I had to leave it all behind because we moved to the in-laws due to fires and fire insurance. I couldn't take the business with me. My husband and I went back to the regular grind and lost a ton of money went bankrupt and now we are lucky to rent from family who aren't raising the rent on us every damn year. Paycheck to paycheck. I'm privileged to have family and probably a good thing I didn't have any children. We are absolutely freaking elated that my husband works for a university and we get good health benefits. We just live simply and get our free teeth cleanings. Could be better could be worse but don't ask us to put 10% away in this climate.
Retirement funds Depends on where you’re living and what your living conditions are and so they change from person to person. However I can roughly say for North America 100k at 30, 250k at 40, 500k at 50, and 1M at 60. This is a rough estimate for a middle class person to just get by and nothing more including already owning your house and car.
When I said I was preparing for retirement from an early age, what I really should say is that I have always practiced sound money accumulation strategies, read books, watched how I spent and saved, adjusted, learned new strategies and sought out knowledge anywhere I could.
It depends on your lifestyle and how long you expect to live in retirement. a single family can have a comfortable life with $60K-$90K annual pre-tax income depending on the area. About 30-40% of that goes to housing 20-30% to other important stuff
Why, when in this video you (and Fidelity) share average health care costs, but when it comes to income and wealth, you use a median, saying this is a more fair number, yet isn’t it the few people paying a lot for health care expenses skew the health care cost averages as well? Feels like a double standard. What is the median health care cost for a retiree?
I think the oldest Generation X people are already 62. I'm not American, but why would they have 20k housing expenses once they have retired? Wouldn't they have paid off the mortgage by then? Also, do you really have to pay that much for healthcare?
Thanks for the mention! And couldn't agree more, enjoy the good , young years you have! Love your videos and advice you give. Keep up the amazing work.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Lourd-Bab However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
Dont let them mess with Medicare, Social Security or ACA ("Obamacare"). These were all labeled "socialism" but they are not- we work HARD for these programs. Frankly, we deserve high quality LOW COST/FREE healthcare like other Western Democracies have. Vote like your life depends on it. Because it just might (or that of your wife, daughter, sister)!
Want to retire in your 50s? One way to do it is military and/or public service. You’ll never get rich but between pensions, SS and TSP/401k style accounts…you can easily accrue enough to retire early’ish. Of course you have to deal with bureaucracy and the occasional fool whining about public employees (all while taking full advantage of the services those public employees offer) but that’s a conversation for a different time. 😂
*The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that don't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver, and digital currencies (BTC, ETH...)*
I began investing in stocks and Def earlier this year, and it is the best choice l've ever made. My portfolio is rounding up to almost a million and I have realized that when a stock makes it to the news, chances are you're quite late to the party, the idea is to get in early on blue chips before it becomes public. There are lots of life changing opportunities in the market, and maximize it.
Ready or not, I’m retiring at 62. I’m not working till I die. I won’t be prepared , but I’ll figure it out. $2k pension, $2k SS, $150k Roth, $300k 401k, $500k real estate equity on 2 paid off homes. I may sell one Nd retire at 60.
Would be interesting for someone to actually compare post ACA & pre ACA healthcare costs. There's the 1 goog hit saying the ACA didn't do anything. With interest headed to 0 & lions manely in cash, they will not earn enough to qualify for the ACA.
It might be a mistake to retire at 65 but after almost 50 years of working full time I couldn’t do it anymore. I don’t have much in way of assets or investments/savings but I have no bills and my expectations are realistic. No vacation home, no wasted money on “stuff”. I haven’t regretted my decision. There’s a lot of us without what the experts tell us we need to retire.
*I'm favoured only God knows how much I praise Him,* $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Susan Christy, you're a miracle.
