"You can't go back and change the beginning, but you can start where you are and change the ending." C.S. Lewis
Retirement planning in the 21st century comes with new challenges as well as new revolutionary opportunities in our rapidly changing world. The right combination of strategies and good planning can be the difference between a comfortable retirement and financially difficult retirement.
I was hoping you’d be more explicit about the potential consequences and timing. As individuals we can vote responsibly but are unlikely to change the National debt. At best we can analyze different scenarios, plan, and invest accordingly. Thank you.
Very frustrating, true. Hopefully your video and similar sources of information will help alert and educate enough "good people" to put their minds together and think up a viable solution.
Im all in with your thoughts on this debt vid. I feel im doing what needs to be done with my personal finances. I believe these vids need to be more wide spread. On every platform, keep it up.
I've felt this way for over forty years. Any twelve year old with an simple understanding of math, can understand what you're saying. The BEST I can remember, Clinton had a few years where we didn't increase the debt. You are far from the first person to speak about this. It's obviously NEVER going to change, our country and government are ... HOPELESSLY BROKEN. This is why I'm APATHETIC and have NO HOPE FOR THE FUTURE.
A mess! Talented people don't go into gov't. Only the ego maniacs go into it. There is a lack of benevolent leadership. Like climate change, we are lemmings. Unable to pull the needle out of Uncle Sam's arm. Good warning.
All of Elon's wealth is an equivalent of about 3 months of interest on the debt. If all of his wealth was applied to the debt it would be unprecevable. It would not make even a tiny dent.
You are exactly right. It’s an issue that gets lots of “air time”, but those who *can* do something simply don’t (or won’t). Sadly, I really don’t think it will ever be (properly) addressed.
So…one big problem at hand is, the democrat party is working very hard (or not working) to redefine the demographics of the United States with their promotion and importation of illegal migrants. Then, spending US citizens tax dollars on them, with the eventual goal to make these millions upon millions of illegals, legal citizens and use them to push the vote perpetually henceforth. My point is, this will almost guarantee the debt issue will only get worst as the socialist voter population gains the upper hand of this country.
Great video! I worry about this. Dont they say in the future too that the government will have to spend a lot more money on global warming prevention / electricity ? Both together will be horrible together. Global warming prevention is such a bad problem too.
WHY CANT THOSE FOLKS WHO DO NOT PAY THEIR TAXES BE HELD ACCOUNTABLE? THAT PART!!!!!! THIS IS LIKE A GIANT CREDIT CARD WITH EXUBERANT INTEREST RATES! ✝️🛐🙏🏽🥰
A big 'Amen' to this. Hard to look at my kids and grandkids and feel like what our generation has left them will be a blessing for them. We'll want to encourage all whom we know to vote accordingly this Fall.
I think that many of your viewers are financially astute enough to both understand and worry a great deal about this issue - however, the vast majority of voters in this country either don’t know or don’t care about it, which is why politicians long ago realized that running on a fiscally responsible platform was a loser and so they abandoned it. Each party proposes a different way to spend money we don’t have, either through government giveaways or tax cuts (I’m sure I don’t need to specify which party is associated with which). Of course, the United States needs to do just the opposite - raise taxes on those who can afford to pay and cut spending and giveaways. As far as I can see I don’t see a party with that approach in their platform, sad to say.
Our 11 year old son says why is it that no one is accountable for their bad decisions/actions in our government. He's right, it's not just one particular party. Look at Venezuela and other once great countries around the world that have their governments lead/deceived their people down the wrong path. Please keep our nation, USA, in your prayers, thanks🙏🏼🇺🇸👊🏽
It doesn't help that we have major policy changes every four years. Seems whichever political party is serving is busy trying to undue the previous POTUS administrations policies which wastes time and money.
We need more tax revenue from massive corporations and the uber rich.... The Uber rich want an austerity plan...that's the Republicans whole reason for being.. They keep cutting taxes and giving massive tax breaks to the Uber rich and then they complain we don't have enough money...
Spoken like a well school trained communist/facist aka uniparty/democrat. The "corporations and the uber rich" ie: the top 1% pay 45.8% of taxes in the United States. The current tax regime is theft. How much more do you think the "uber rich" should pay???? France and a few other EU countries tried this little communist tax theft regime trick and ended up with MUCH less revenue because the "uber rich" left the country. Government at ALL levels must spend MUCH less. Malfeasent government spending on every level is out of control. For example, the DOD cannot account for the loss of over 2 TRILLION dollars. The size, reach, and cost of overbloated government needs to be cut at least by 75%, probably more. Try unbiasd & honest thinking before you blather communist/facist aka uniparty/democrat talking points.
@noopy24, so for the past 12 of 16 years we have had dems in control and look at the position we (this country) is in. We the people are not living well it’s the government that’s living too well. My children and grandchildren will be paying on the debt we create today. We need a balanced budget and remind people there is NO free lunch!
I am 51 and have seriously started thinking about how/what I want my retirement to look like once I get there. This has been extremely helpful, most of the videos I've viewed focused on the financial side of retirement so this was enlightening especially the part about taking care of yourself now so you can better enjoy your life later.
Dave is very wise as far as personal debt issues. However, I've heard him tell callers to lower their 401K below company-matching funds, or even stop contributing entirely, so they can use that to pay off debt. Giving up free money is a horrible idea, and you'll regret it come retirement time. Not to mention, it's pretax. Find another way to come up with that money.
How about putting a 7% return on that early benefits and then calculate the break even point? Assuming that somebody has a nest egg to cover their living expenses for those eight years.. eg. Tax Free Muni-bonds yielding 5.5%.
@@mackman77095 Here’s a video on investing Social Security benefits. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-XSFQaLjfozk.htmlsi=M3caZJCPsr_Xw_7E
I've got so many health issues I'll be lucky/cursed to live til 70. Biggest thing I am worried about is my wife be taken care of. I'm hoping she can receive my SS.
Is the spousal benefit tied to your ex-spouse? For instance, you were a stay at home for 2 decades and your ex worked. What if they retire early or late. Does that change the spousal benefit?
Ok Dave Ramsey fan here, for the most part. But I don't know why CFP professionals feel so threatened by him. Most people with money will get a CFP or they know enough about the 4% rule to follow at first. I dont think millionaires are going to listen to a radio show host. I wouldn't follow his 8 percent advice, unless there are other factors to consider, but I actually kind of did what Dave tells his audience to do when they are young and it works. I didn't know about Dave Ramsey until I was well on my way to accumulating wealth. His steps are brutal at first (I lived it), but they are 100% spot on if you want wealth while only being middle class or lower.
I too am a Ramsey fan and have been for years. CFP's do not feel threatened by Ramsey. If that is what you think then you do not understand. As stated in the video much of Ramsey's advice is excelletnt, no dispute there. The issue is that some of the his specific advice is dead wrong and dangerous if followed. This is about him ignoring the reality of sequence of returns risk. To understand the issue this article shows you the math and expalins how he is very wrong on this issue. www.thinkadvisor.com/2023/11/13/supernerds-unite-against-dave-ramseys-8-safe-withdrawal-rate-guidance/
God bless your father. Reminds me of my pops. But, what's the risk of SSN insolvency if you defer, tho? I'm taking my benefit ASAP. How awesome would it be to decide to waive off and defer for 8 years only to have congress change SSN or it fall into insolvency. D'oh!
2 kids, will end up capping family max at age 62. Plus small state pension. They will be either of or almost school age. Plan is to stay home and take care of the kids while the much younger wife returns to work. She's going to bring in between $30,000 and $40,000 so we will be just fine.
