Retired at 63 and took 8% out of pretax. 401K was moved to IRA to live on and invest when markets were down. Ended up with more money now. Taking SS at 70 now and now have a perpetual IRA with over 4% in dividends alone. Plan was to spend down. Retired at the right time and got lucky on investments.
We should not have to pay school taxes if we raised our children and dont use the schools anymore. Schools always beg for money and free labor. I did my part for 50 years plus.
I like your content! I ran a Monte Carlo simulation on this recommendation and the results were: 8086 portfolios out of 10000 simulated portfolios (80.86%) survived all withdrawals. This is assuming $60,000 withdrawal every year for 30 years. Like you mentioned, you probably wouldn't take the full 60K out per year once Social Security kicks in so the survival rate would go way up!
Josh is the only you tube content creator I know that correctly points to the price of gas as the cause of inflation. Question on the long term bonds though. How are they a good deal? Is it when interest rates do fall the crappy rate on long term govt bonds right now will start looking real good?
Trump is dumber than "KaMAla" Harris. So say dozens of economists who have compared their policies, AND hundreds of republicans who have worked in government going back to Reagan.
I would never leave assets/money/investments/valuables to my spouse. She could blow my whole lifetime worth of earnings and investments on herself in a year. Never never do it.
Woah for real? I'm so excited. Maria Andersen strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started.
GREAT NWES!!started working with Maria back in April, and my financial goals have been clearer. It's like having a strategic partner for my money with a solid track record.
This is exactly my retirement strategy. We live in a cheap area of Ohio. Not zero taxes but very reasonable. My IRA is up 25% in the last 12m and I’ve paid zero taxes on that growth because I’ve taken zero distributions. I’ll take one 12k in early 2025 to pay all my bills for the year. I’ll look like I make 12k a year.
So i go to the dr for a cold. Thier office charges $400. Then the system. Ins. . Dicounts it down to $100. All smoke and mirrors. Mean while the non profits are getting rich. Ur sayin the nursing homes arnt playing that game also with medicad. They are forcing people into thier game.😢
Yeah, we think you're making it up. We know you're the only one that has the right numbers about people who died from covid or complications related to covid. Josh the expert on everything 🤔
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Thanks Josh. I will have between 5-600,000 (with zero debt and a net worth of 1.2 million) in my portfolio by this time next year. I’ve always told myself that I would take SS as soon as I could get it. But lately I’ve been thinking about spending the portfolio down and waiting until 70 to take the SS for all the very reasons that you pointed out in this excellent and informative video. Thanks for the confirmation of my thoughts. The biggest gamble that I can see with this will be the solvency of the SS program.
Better to have my beneficiaries pay the LTCG rate than to have it 100% clawed back by the government. I just don't get the moral high horse that some folks take about using the tax code to your full advantage. 90% of the US tax code is put in place to explicitly encourage/discourage social behavior, who am I to fight it :-)
I think the correct word in this case, is ABUSING the tax system. Why in the world should anyone with several hundred thousand dollars, or of course, millions of dollars, be allowed to shield that money from having to pay for their nursing home care?? Just to go on the government dole, Medicaid, instead? Makes no sense. In the end, what these people are saying is, that instead of me paying for my nursing home care, I would like the government to pay for my nursing home care so my kids can inherit my money. In essence, taxpayers will provide for the kids' inheritance. The kids' might as well go on welfare, too. Same thing.
Don't leave your standard deduction unclaimed with over Roth converting. Maybe your brokerage is kicking off the standard deduction level of income. But most people are not making that
Minnesota raises taxes when a million dollar home is built around the corner. They should have taxes raised, they can afford it. Where do all the tax dollars go in Cass County Minnesota? Dont thry have a budget in place? I have zero budget in place and any time property taxes are raised it hurts our budget!
When you include (repost) in the video title, does that mean it's been posted previously? If that's true, could you please include the original video date?
This is nonsense. You should have a cash contingency fund anyway to help you through market crashes to help with sequencing risk. When you retire you’ll be invested for maybe another 30 years. I agree you don’t want to sell the units you’ve bought in the last 2 years or so. You should sell the units in the portfolio that have been invested and seen growth such as those first purchased when you started investing. Just because you retire doesn’t mean you stop taking risk.
That’s a pretty warped way of looking at things. What you are saying is that it’s all the governments money and by keeping more of it in your pocket, others have to pay for it.
I think if u have two million dollars u should not be able to protect this and have the government(tax payers) pay for your nursing home. Period. This is one of the tax breaks for the wealthy that will probably at some point and time cause another civil war in this country, This time between the haves and the have nots.
When you tack on pensions and annuities it will knock you out of any freebies. And i havent even started with social security yet. I make so much more retired than I did working. Tax planning is so important.
Just a thought when you buy a home have you already paid taxes on what you paid for the home? Should not the evaluation of the home be tax protected. Kind of like a Roth IRA or Roth 401k? If they don’t count your estate planning to qualify for medicare that should be fixed but you should be able to protect your property value so as to not be double taxed. Again we paid taxes on our home just like our Roth and our Gaines should also not be taxed. I understand houses are treated like stocks, but at all points I am against double taxation. Our government takes way too much of our money. IMHO
When you bought your home, you didn't pay taxes on what you paid for it. What are you talking about? Plus, even if you had, it would be like stocks, you only pay taxes on the gain anyway. The gain came out of thin air as the market changed, so paying taxes on the gain would be the first time anyone has paid income taxes on the gain.
@@dougprw1110 It was a rhetorical Question so yes you are right, you got it....clapping for you. I do Question the gain on a home coming out of "thin air". My home does not turn a profit, so the way I look at it, my home goes "up in Value" out of "thin air" as you put it, is because of inflation it is because of the devaluation of the dollar. It is more like a shelter to protect myself from all the money the government prints and spends in our names. I am not with you yet on the statement that your home is a gain at least for the every day person that does not flip homes. House flippers, They actually are adding value to the home buy fixing them back up. That I would agree is a business. However I am reading that you think the value of our home come out of thin air, sounds like the government talking.....From my experience my house never gets better without my dropping money into a remodeled kitchen or a new furnace and then usually it just maintains. My house would continue to go down in value unless I put my labor and money into it over the years. I do however wish it were are you say and my home would just fix itself out of thin air. Thoughtful comments though
@@genejones7983I think that “thin air” could have been expressed better. The fact that the house goes up in value is simply supply and demand. Even if no improvements have been made , houses change value over time. Some of it is inflation but mostly it’s buyers driving the price up ( or down, sometimes). And the fact is that a married couple can exclude $500,000 worth of profit when they sell their residence so the small amount (in most cases) over that , the government wants their cut. Well, why not I guess?
@@johnscott2746 Yes that is much better said and you are correct it is not all inflation as you well state due to all kinds of factors (although my opinion is that most of it is due to that). Yes you are right buyers do drive up the price, but is that not due to the lack of homes being built and that do to inflation as well? I did some graphing of homes in my area built since the 1990's and if you graph it out the average price over time the increase is between 2.8% and 3.2%, at least in my area. I could get into why the government should not get their cut mainly because it is not their money and bureaucrats do not spend it wisely, but who am I to change that. I was in the Army and I work for the government now and see their "stewardship" of our money. You could change my mind on that if I could see the overall good the government did....but I am buried deep in it and I don't see it anywhere. So that is my well not, but all your points are valid as well. Thank you for your comment
I completely agree! Nicole Anastasia Plumlee is the licensed advisor I trust. Just look up her name, and you’ll find the details to set up an appointment.
Cmon Josh, I’d rather make 2-300k and pay taxes on it then make 65k and walk away with 45k. Ask ANYONE which situation they would rather be in. Paying taxes is a rich man’s problem.
Bitcoin is on its way to breaking records, getting closer to hitting new high prices, showing that it's gaining more value and could go even higher than we've seen before. This could mean great things for people looking to invest, suggesting now might be a good time to get involved before it jumps even higher. It's an exciting moment that could change the game in general...managed to grow a nest egg of around 2.3B'tc to a decent 27B'tc....At the heart of this evolution is Seren Wintersun, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment.
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Seren’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
Glory!!! After so much struggles I now own a new house with an influx of $155,000.00 every month God has kept to his words, my family is happy again everything is finally falling into place. God bless America.
I raised 75k and Christina Ann Tucker is to be thanked. I got my self my dream car 🚗 just last weekend, My journey with her started after my best friend came back from New York and saw me suffering in dept then told me about her and how to change my life through her. Christina A. Tucker is the kind of person one needs in his or her life! I got a home, a good wife, and a beautiful daughter. Note: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!!!
DJTs no tax on SS will change some of these assumptions. You could claim SS at 62 at the same time, take $120,000 LT cap gains tax free. Do that and/or Max out Roth conversions for the next 13 years until RMDs kick in. Even taxes on your RMDs won't be that bad if your SS isn't counted.
Any senior not voting for Trump, needs to get their head examined. 1/2 the population believes all of the lies about him(fine people hoax, inject bleach hoax, peacefully & patriotically hoax, lawfare..... ), they are prepared to vote against the best interests of the country. The constant propaganda on cnn, msnbc, cbs, nbd, abc, pbs... has been successful at imprinting these falsehoods onto their subconscious minds. Should be illegal the brainwash our people like this.
