Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well
NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
As a soon retiree, keeping my 401k on course is my top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within the short term but to execute such a strategy, you must be a skilled practitioner or be working with one.
@@JoeWilmoth-k2w I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.
@@BarbaraLouise-i3r How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@@MelindaMatsuda Victoria Carmen Santaella is the licensed advisor I use. Just search the name. You’ll find the necessary details to work with to set up an appointment.
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.
Not really. Approximately four years before to my dad's retirement, our family was introduced to a financial advisor. That was the catalyst for the transformation. I believe my retirement income would be on the right track because I've been using the same advisor.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I'm hesitant to make recommendations like this online so I can't drop her contact here, but you could look her up yourself and contact her if you wish. Her name is *Sharon Louise Count.*
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
My Financial adviser is ‘’'Natalie Lynn Fisk ’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
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.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.
`This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Karen Leigh Owens is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
It's pretty much what "The Millionaire Fast Lane" by MJ DeMarco teaches. It's hard to build great wealth from conventional advice.I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor. It's been almost six years now, and I'm a couple thousands shy of a million.
I think that is the problem most beginners have, particularly when they hear how some people got lucky off investing, on social media. Platforms that enable easy trading too, like Robinhood, don't make the situation any easier.
This is a pretty decent return despite the turbulent market over these past few years. Is there any chance you could recommend who your financial advisor is? I bet I could use some help. Thank you.
I have worked with a couple of financial advisors over the past few years. First started out with a guy that worked for Bridgewaters. Same wall street rippers. I then switched to an independent advisor, *Sharon Louise Count,* and, I won't even deny it, she's been really extraordinary.
If you call creating videos for which total work put in is 8 WHOLE hours versus thr rest of us doing 40 or more hours, then I would call that quite retired.
@@jdthompson5778 not really he makes a ton on RU-vid ads and affiliate programs. Plus he spends so little and paid off his house. Most of the foolish masses would feel sick to their stomach to live a very frugal life so will work 90% of their wake hours till 65 years old and think they will have their health to enjoy it thrn
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
Very true, If you're looking for help building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@helenoliver4838 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@danieljamal3709 *PRISCILLA DIANE AIVAZIAN* . look her up with her name on the internet, that’s the financial advisor I use. She’s verified and you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
You said it all. It's hard to predict the future, but one thing you can always rely upon is human GREED. Once stocks start rising again, people are going to think back and kick themselves and ask why they weren't willing to buy things at a 60-80% discount. Interesting I'm also a subscriber of *PRISCILLA DIANE AIVAZIAN* signals and if I were to rate her accuracy, I would say perfect 👌
Technically, He didn't retire. You left your old job for something better. Given the severity of the inflation and how worse it is predicted to get, retiring early might backfire. Real question will be; How to retire early and still maintain cash flow while doing minimal work, just as you did.
Practical approach; Spend only on necessities (save a whole lot), Try to invest what you can and spread them locally and internationally but of course be well informed about where you want to put your money. Made my first million this way earlier this year (got help though). Can comfortably retire at this point.
@Kentucky Funny enough, I can honestly relate. By help, I mean I got the services of a pro "Nancy Lynn Lewis", she was in the news a lot in 2018. You can check her out online for more.
I'm a very concentrated investor but sometimes there is value in adding a small new position. It isn't for diversification. Focusing on something new provides a productive distraction from overthinking what you already own. It allows you and your portfolio to breathe a little bit..
Super excited about the next bull run, I’ve increased my buying again since stocks have been on sale, but I’d really love to know how to use this recession to my advantage, I'm aware a good lot are making a fortune right now and I’d love to do the same.
@@legilooks, I have 55k in a well-diversified portfolio in stock and digital assets which have grown by 3x in the past 7 months with compounding, venturing doesn’t necessarily boil down to funds but you also have to be informed, be patient, and back it up with good guidance.>
@@charlestancred6181, CINTRA V. BEDASSIE looks her up with her name on the internet, that’s the financial advisor I use. She’s verified and you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.>
I'm glad to hear that he is a little less frugal than he used to be. It's hard to watch when people figure out how to make a ton of money, and then they don't know how to enjoy it at all. It sometimes seems like a waste.
I don't think he is a hedonist, just by looking at him we can tell that. He probably gets pleasure out of being austere and thrifty, some people have this psychological trait. Asians have competitive tendencies also, another factor and the motor behind his actions. We can survive on very little, we can live on a lot and have a better life quality, the only thing that is finite is time, that is something no one can get, which is actually great. Everyone has his way of being, accepting that is the real challenge.
@Laina Brown-Money at Home, when you've become accustomed to saving all your life (and become rich because of it), it practically becomes a game to continue challenging yourself on finding ways to save more. It's not a waste at all. It gets to the point that you have enough to share it by giving it away to random ppl & charities. It's not a waste at all.
his definition of enjoyment may not be the same as yours or require spending much money based on what he said, the most expensive activity he does is travel, but when planned properly that doesn't have to be particularly expensive
Retired with a 7 figure portfolio and Receiving about $53k in dividends. I have been in the Stock market about 20 years. Am I worried? Am I selling? Absolutely not. I have purchased growth stocks too a little at a time over the past few weeks. I am going to sit back and observe how this all plays out, adding more at a time. my investment strategy actually calms me down. Eye on the prize, stay the course!
Dividend investing is great, just be patient. I went from making enough passively to pay for my netflix and hulu to now making enough to cover half of my mortgage. Not commenting this to brag, just to give hope to anyone who is discouraged by tiny gains in the beginning.
Recently I got into the financial niche, and I’ve taken a deep dive into investing, particularly dividend growth investment as it interests me. hoping to get to your level someday.
Love ❤️ it when i see my fellow individuals excelling. I'm also on my way to the millionaire's club from investing in stocks. It's exciting watching your wealth grow. Good luck to us both.
@@LegolasD The stock market has plenty of opportunities to earn which I myself took advantage of.. I made my first million from going diverse, mainly ETFs(stocks, bonds etc), coins, and gold. I'm also working on an investment plan that includes NFTs with my advisor, Rosemary Carlson. It's been a year and half of steady growth...
Nice content! The best way to find that balance between saving and living is by investing, this way you get to have your savings intact and then live comfortably of the revenue coming in from your investments.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets 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.
@AustinWalker67 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@AustinWalker67 Alice Marie Coraggio is quite popular on Bloomberg I doubt if there is anyone who is serious about stock trading that doesn't know her. She has helped me quite a few times in growing my portfolio and it was blissful without any setbacks. she is a tough person in an industry that demands clairvoyance
Ive been working for years without being able to save to invest largely because I have to take care of my mom who is too old to work and my brother who refuses to work. I envy those who work and not having to care for anyone. Youre in luck without being aware of it.
Have you heard of the infinite banking concept. It might be a way for you to start on a savings journey and then soon having a foundation off of which to invest.
No disrespect for his achievement but $1.2M is nothing but a modest home in much of California, $2M is great at his age but he's going to have to continue to grow it.
$1.2M is nothing ??LOL,if i have $1.2M million us dollars I would no longer work in Portugal where I live. I am 32 years old and with this money I would enjoy the rest of my life without problems like a king!!Here in europe in many countries you you can live like a king with $1.2M us dollars!Ok maybe in USA $1.2M is nothing because the quality of life in usa is far superior to the rest of europe not to mention the uk, france and germany!!But for example here in Portugal with $1.2M i can buy 6 good houses in Lisbon.
@@jkdfjufseytjreyj4003 Can't even read an entire sentence? As stated it's a modest home in much of California, I believe the one he owns is more than 1.2M and his net worth is 2M....excellent achievement at his age, I only reached that recently much older. But it's not 'wealthy', it's a decent retirement at 65 plus.
@@mocheen4837 that’s amazing! I would like to know how did you achieve that? Do you mind telling me how you old were you when you stopped working for others? I was an orphan got adopted at 15 by a parent with master’s degree. I got my engineer degree and still pretty broke after working as an engineer. Colleges really don’t make us gain financial independence. Looking for other paths to achieve financial independence.
Just because you have your house paid off doesn't mean you can't be kicked out. If you fail to pay property taxes, you house could eventually be auctioned off.
Traveling the world is one of the biggest motivators on my FIRE journey too. So cool getting to see the "Retire-Early" portion being optional, and the FI component really just freeing you up to focus on doing what you love. 🔥
The title should be "How I became a full time youtuber at 37 and fully paid off my mortgage". These clickbaity titles are very misleading and sets a unrealistic message.
This is more like "semi-retired". Im the same way. 46 1.7m no debt and 17k month passive income. But I stilm work part time and have a business. Retired is "not working".
Really cool to see Francis on here. Seems like he’s finally speaking out on his journey in other channels (Graham Stephan’s ice coffee hour and now Cnbc)
I have a friend who has a wealth value of over $100M and still growing but still works very hard coz he enjoys it and he helps so many people to have jobs and earn for their families.so that is his meaning and purpose in life....duties and responsibilities to others not only to yourself you focus in your lifetime.
what's the point of BTC, if they can create mechanisms to manipulate the price the same way as any other asset? The big hypocrisy here is BTC is cheered on as an alternative to fiat, yet the same people turn around cheer institutions coming onto the scene as well. The result is again, an unfairly priced and manipulated asset, seems like we're going right back to square 1.
She’s technical analysis is dope and her interpretation/projections of the market is so accurate I sometimes ask myself if he is human haha. Point is, Anna is the perfect trader to follow for advise and daily signals.
I lost my mother at 23. I lost my father at 24. I inherited $2.5 million in assets and retired early at age 24. I invested in real estate owning 27 rental units and my net worth at age 31 is $4.2 million
@@NinjaStealsBike your argument may not be wrong, but that's like saying, "ohh he may have lost his legs but atleast he has a wheelchair. Like what if, he didnt have a wheelchair"
I’m a fan of Francis RU-vid channel. He is great at budgeting and being frugal! He has done great by investing his money in the stock market and making sure to own his home.
Double up on jobs Marriage to someone similar Babies and buy a house in cash ASAP Mom is birthing nursing and parenting Dad is still getting earned income until unearned income exceeds living expenses of groceries and housing costs Then can choose between working parenting and hobbies
If I was in this position, I think I would probably leave my full time job 3-6 months from the date I knew I could retire. I'd take a 2-3 year sabbatical to travel the world, but I think I'd want to work again personally. People just want a fresh start and different way to look at the world after doing things 'one way' for so long. There are people who want or push the title 'VP' or 'partner' more than they want the ability to live like a 'VP' or 'partner' for the rest of their lives. I can't do that--I care way less about the titles and more about the experience and actually becoming a successful entrepeneur. I can't fathom working 60-70-80 hour work weeks with no breaks. There's a fine line. The ending of this video sums it up perfectly....people just want to be able to take a break whenever they want.
I was working an average of 60 hours per week. I just changed positions at work to part time and working from home. My wife and I both work 3 days a week. We both have six figure incomes and max our retirement accounts. We are able to spend more time with family and travel. We have full benefits and seven weeks of vacation.it is still rough living in the Bay Area, because everything is so expensive.
I used to watch his channel, and I often wondered how much his networth was, now I know. I tried following his budget, and seriously it was impossible, and I live in a very modest area; in the North. I am older than he is & even with the perks that seniors have; I could not live on his budget, and my family thinks I'm frugal. He really didn't retire, he just switched his employment status. Unlike him, I'm truly retired. Ms. B. Churchill
oh lovely instant profit All the advice you give pertaining to being a self-made business woman/man, is so VALUABLE. Truly, ty for everything you're doing to help motivate and inspire the rest of us. You have a heart of gold girl and I appreciate you! Just subbed!
Amazing story! It reminds me of our story and how we were able to become millionaires at 35 and retire at 38 on a low income and 3 young children! WELL DONE!
I have two children and live in the Bay Area. We both work part time now and are enjoying our free time with the family. Hoping to make it through 2022’s recession. We need to work for 8 more years before we can retire.
@@mocheen4837 That's fantastic news! Stick with your plan and endure this 2022 volatility... hopefully the market will rebound soon! Let us know if you have any questions about FIRE, Financial Freedom, or Early Retirement. It would be great to compare notes. Have a great day!
I really feel left aside hearing and seeing several testimonies from people on profits they make from Bitcoin/Forex Investment. Can someone recommend a good expert that trade on my behalf and generate profit for me.
@Amstrong Alex You don't need to be surprised. Mrs Letton Deb services is good and everyone loves her qualifications and genuine services, i guess that's why she is popular
I have been seeing so many recommendations about Letton Deb on top comment on every RU-vid video i watched trending, her strategy must be good for people to talk about her
If I did the math on what it cost me to send my kids to college and all the other costs associated with bringing up kids, there is almost no way anyone is thinking retirement with all the other costs around mortgage and living expenses. Are there a handful of exceptions featured on YT, sure, but the problem is when the Average Joe is sitting on his laptop thinking that a handful of people represent some huge population of ppl.
@@swisstrader I’m childless so take this as you will. My parents didn’t pay for my college and It has made me resilient and resourceful. I’m not saying you shouldn’t support your kids entirely…If I have kids, the most I’d give them is about 20gs and say that’s all I have find your way. Encourage them to get scholarships or go to cheaper universities. If the college isn’t a life changing top 10 in the world type of school, or they aren’t trying to be doctors etc, don’t break your back. That said, there’s funds you can start building from when they are born to until when they turn 18. Additionally, you have to look after you. The greatest gift you can give your kids is them not having to worry about you as you age out. They won’t have to come out of pocket for nurses etc. because you’ve sorted out that drama.
@@Clockwork_999 I have 2 crazy successful kids so I am truly blessed. I’m doubly blessed because over the years I was able to help my kids pay for college, teach them right from wrong and be wired to be ethical people, know how to be financially independent and enjoy their lives. Life is good!
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
Is there anything like proof recession stock? I am 58 years and would like help in managing my retirement portfolio which is currently $1.25M...down from a high of $1.67M….
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of $550k...that's like 7times more than I average on my own.
I work with Sonya Lee Mitchell who is a licensed fiduciary. Just look up the name. All the information you need to work with a letter to set up an appointment is included.
What would really be interesting is interviewing this dude again in the heart of a bear market to see how he manages the downturn. Since he didn't even discover FIRE until 2013, he hasn't really seen a complete cycle yet.
Iam retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts .
Lol totally misleading headline, guy just went self employed, not retired, and with inflation in 10 years he's 1 million will be like 350k, you can never stop working at long as they keep printing money...
As the economy crisis keep rising, one needs to have different streams of income, a well detailed diversified investment portfolio in the financial markets is needed to survive, as well as secure a profitable investment future! Wondering if you viewers here are familiar with Mrs Sandra Johnson trading strategies
@Alasan Damo I've heard so much of this Mrs Sandra Johnson she must be a very trustworthy expert professional for people to talk all this good about her please how do I Start trading with Mrs Sandra Johnson
Nah lol I want to retire early and aiming that. I want financial freedom and not have to work for anybody no matter how good the job or or how much they pay me. That’s absolute freedom
The Crypto market has been favourable in the past weeks, I keep missing out on this opportunity, I'm most certainly very impatient. how can I ever make a profit in the crypto market?
My Crypto Mentor Mr Alexander Mateo, you may have come across him on a few interviews, I invested $3000 last two weeks and it profited me $11,410 a higher success.
Wow I know Mr Alexander Mateo, I met him at a conference meeting in California 2019 where he introduced to us his business strategy, he helped me cover my student loans.
Take it from one who has it and bought a house in Missouri and dream Wrangler with forex trading profits. I started with Mr Alexander Mateo of financial education and he has been my handler and guider for the past years.
nice you were able to do it. $160,000 salary, well yeah I can see how you were able to retire early. The average person is about $52,000 a year. Huge difference there, but congrats none the less. I'd like to see the average person making $52,000 a year retire at 37, so it can give the average person some hope if they wanted to do that. Anyone making $160,00 a year for 10 years if they invest can easily have 1 mill plus. Just saying i've seen many videos with someone retiring in late 30s or in their 40s to find out they were making well into the 6 digits. great for them, but just not realistic for the average person. 2 were lawyers.
I love what he does and I find his channel great and I see him as quite successful in everything he does. However, how would someone like myself with very less income, family and more than one child achieve FIRE at his age? In my case I think I will be ready to retire at the traditional age between 65 to 70 years. You have to drop the E in FIRE in my case. If I was single I think I would have already retired already.
Oh yes in a previous comment there was a mention of having less youtubers on as some are not as lucky to have a successful channel. There was a reply frome someone mentioning it is not luck but very hard work. I am working to grow a channel and it really takes alot of hard work, time, money etc. To run it. You really just have to go by passion and hard work to make youtube successful. I applaud that you bring on content creators like beatthebush so we can see what all this hard work can achieve.
It feels like children are a luxury and incompatible with FIRE with how expensive childcare/tuition/etc is these days. Double income no kids is the way to go.
@YT Flava Right I got you! Realistically I think if I try hard enough I might change my retirement to early late 50s early 60s for my situation. Thanks 😊
@@purplepoppy07 You said it! At one time we had daycare expenses at about $25 to 30k per year. This is just for regular daycare for 2 kids nothing special. Thanks
When I was young, I negotiated with my parents to give me a monthly allowance. I used to spend it in a week or ten days. I borrowed from my younger sister without interest. She went to the very strict girl's only school as opposed to my affluent co-ed. She didn't have the need to spend money. I did repay her, or she didn't really care, if I did or not. That was very fortunate. No debt collector pursuing me. I realised our younger childhood relationship paid off. I always protected her and allowed her to tag me anywhere.
This video is mislabeled, he’s not retired he just quite a corporate job and went independent. Appreciate his story but don’t appreciate the mislabeling by CNBC.
I am happy that you love the life style of early retirement, many can not live without friends that are still working 9 to 5 .guess you enjoy the quiet, lonely times.
I am 42 and I have 1.23 millions net worth and I also live in California. However, I don't think it is a good idea to retire (in California) with only 1.2 millions. In order to live a comfortable and really worry-free retired life in California and if you are married, one needs at least 2.9 millions net worth for the both to be retiring in California. That is provided the house mortgage has been totally paid off, and the two of you can put at least 1.5 millions in REITs with stable 5% annual payouts (or, $75,000 usd) so that, before tax, you and your retired wife can both have roughly $6,250 disposable capital per month. Food, energy, fuel prices are all going up, if you are not married and have 1.2 millions net worth or liquid asset, you may still live your life normally. However, for married couples, 2.9 millions liquid asset plus net worth is the bare minimum. You gonna have to visit doctors more often as you age too. Therefore, I have 1.5 millions in REITs with 5% annual payout, and 1.4 millions in other investments and allocation for unexpected medical expenses, plus some allocated for annual trips too.
I'm pretty sure 1.2 mil isn't enough to retire on. A single family home goes for 3/4 of a mil on average now. Unless you bought your home outright and have 1.2 mil left, then possibly. But with eggs going for 8$ for a dozen... you can retire for 20 years if you want to go past 60 go back to work
Wow, is he suggesting not buying perishable foods like fruit and vegetables??? You can still get kicked out of your house if you don’t keep up with those property taxes
But a study showed people spent less than 1.5k SGD a month in retirement. That was 4 years ago. This figure is real. I have been in semi retirement for 10 years at a place very close to Singapore. My average expenses were less than 2/3 of that. There are lots of articles on the Internet saying you need 4-6k SGD a month in Singapore during retirement. But a closer look will show that all were written by those still working. They have zero experience about retirement. So, 700k SGD can last for 50+ years. I don't know why people in California need so much to survive. Do they drive 5 hours a day for no apparent reason, and don't have a kitchen at home......? :)
Here is the secret formula: Have a six figure tech job, buy real estate at the bottom of the worst housing crash in history, pour money into low cost index funds starting at the bottom of the 2nd worst market crash in history, live modestly, have a popular youtube channel. If you think you'll be FIRE'ing if you start now, wishful thinking. Your only chance may be if you come up with a successful business. But you have missed out on a record 15 yrs asset bull run that many, such as this guy, were able to reap the benefits from without any effort. I followed the track of this guy, buying a dozen properties and doing index funds. I have enough to fully retire before 40, but have chosen to still work part time. People starting today are screwed, median single income isn't even enough to qualify for my rental homes
How can you retired with 1.2 mil in California? Do you eat instant noodle and drink water only? Do you live in a condo only? Cheez…That would stress me out!
Its easy to grow your Net Worth from 2017 to2021 when your house appreciates like none other! Most that Net Worth is held in his house - great but little to no access and that is a lot of money just sitting there. Im sure where he lives the taxes are insane and he could sell the house - move to the mid west and really retire. I agree hes not retired - he just changed jobs and still needs to work. Funny how we look at things!
YOU are faithful to yourself is what excites ME :) at the age of 26 my only goal is to be free and too free up others from their complicated work schedule.
