I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving
@@user-zw7cd7pe4u Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
Good video...and the audio was great, glad to see you guys got that stuff fixed. I am with TD Ameritrade now...never really liked Schwab so i might have to move once they merge UNLESS they have good margin rates (TD Ameritrade has not had good Margin rates for awhile and i have been looking but want an office to go to), we shall see. Interactive brokers and M1 financial look interesting as replacements for a platform to trade.
Hi from Ireland. Really interesting video and explained in such a clear way. I'm here having watched a video you conducted with the late Jack Bogle. Great stuff. Can I ask is a 401K similar to an AVC here in Ireland which is an additional voluntary contribution. I have 3/4 invested in a global equity index and the other 1/4 in an Irish equity index. I'm 38. When should I consider including bonds? Thank you.
I think 401k maybe closer to a PRSA in Ireland. The basic characteristics are that 401k allows you to grow your money tax free and it usually involves an employer match. As for bonds, if you have a high risk tolerance you can probably wait on the bonds. If you are more conservative, you can start having some bonds already. According to Vanguard, you should have your age as the percentage in bonds in your portfolio.
Two comments. One, a number of years ago was a book published called "The Millionaire Next Door." It's a bit of a dry read but might be very insightful for you. Second, if I make the million dollar goal, so what. I appreciated you intro with the benefits a couple people made. If I make this for my wife or kids, they will just squander it, I'm sure. Those external beneficiaries for me are the true blessing. Thanks for your good video productions.
I have a question regarding the 100 dollar example. I can only afford 50 dollars a month (I work 20h a week and have college). The S&P 500 index fund is costlier than that. Would the thing still apply to me if I invested in other stocks/ index funds
Becoming a millionaire has a lot to do with your money management skill and investment experience. I use to do thing on my own and I wasn't satisfied with my results so I hired a SEC regulated investment adviser. Her advise made me my first million.
I have 700,000 in my Roth IRA but I'm not satisfied with the annual yield on it. could you share your investment adviser name and info so i can get in touch.
@@leroyleveille5922 My investment adviser's name is Mary Wubker, i can't share her contact here but you can look her up on the internet she is popular and then leave her an email or a phone call.
@@brokebastard you don't know: #1 what percentage of their wages that they saved, #2 when they started, #3 where they invested the money, and #4 whether they took any 401(k) loans. $5000/year for 43 years (ages 22 to 64) compounding at 7% turns into just under $1M dollars.
I am 43y.o. House is payed off. Have zero debt. I am comfortable with my 70k€ yearly income (here in Finland health care and education is "free" included in taxes). If I can keep it until I die, good enough. Rental real estate and dividend stock what I do. Why in the earth must leaving millions behind??? To kids kill eachother over those millions...???why???
Hey there -- A lot of those folks saved and invested and then gave money to charity or local causes. That's why there was so much left over when they passed. I think that gets to the point that Jason makes later on in the show: you need some amount of money to be able to live life comfortably and do the things you want to do, but the exact amount depends on the life you want to live, how consumer-driven it is, etc.
exactly..Being obsessed about being a millionaire for what? Enjoy the fruits of your labour, be responsible with your finances... Why save everything for the last few years of your life? Retirement is not guaranteed.
Get rich slowly works. Couple that with starting a digital side hustle (potentially get wealthier faster) and you should be set :). I focus on quality dividend companies now, but lots of investment strategies work.
I agree you have to be in the market to win. I listened to the so called experts on CNBC talk about staying out of the market in previous years and missed out on so many great trades. Meanwhile my 401K was just growing and growing. I got back into trading to supplement my retirement.
Retiring at the ages mentioned would be great if that is a choice, for many of us , especially since Covid-19 was forced into retirement and many of us don’t own a hone to downsize from, so i guess my question is from an extreme bottom line, so lets say just from the point of having just your social security to pick from and that you may have aboout 350.00 a month to try to play the markets, with full kknowledge that nothing is guaranteed, is ETF’s the best way to grow your money, or investing in the trends like robotics, biotech, AI, IOT, etc, or is picks and shovels the safest way and can those bring gains that can be life changing. Many boomers were affected by Covid-19 layoff’s as well and don’t have 20-30yrs to play around with volatility,So many analyst tout this new algorithm, and that new algorithm that nearly gurantees growth, yet they want 1000’s just to join for information, yet will always tell stories of how they left wall St to help the little guy, most 'little guys’ who sit and watch these incredibly long monotone video’s trying to get a leg up, (the reason we watch) don’t have 2500-3000 sitting around to give to an analyst with millions just for a subscriptions for a year, when claiming that the reports that we are most interested in are free , but subscriptions yu must buy in order to get the ‘FREE’ infoormation about the Topic which brughht us to watch in the beginning, talk about ‘Bait and Switch”, Dangling Carrots” it’s these tactics that i think keep deserving people from getting ahead and keeps them financilly challenged
At 19:18, you give advice to folks with a lump sum to invest. How long a period of dollar-cost-averaging do you recommend, given current market valuations? (Assume we're investing for the long term with 15+ yrs to retirement.)
I kinda feel bad for the guy in the middle because when he talks and tries to engage the other two guys, he had to keep looking at them all throughout. If we triple the speed of this video, he'd be shaking his head a million times. 😂
Started with Motley Fool Rule Breakers which is around $250.00/yr to join. I started around 15 years ago and am currently $70,000 dollars short of 1 million saved and my house just recently was paid off so I will have more to invest monthly. Hoping to be there in a few months.
Julián Leiva well even in USA it’s not like , “I’ think I’ll open up a cookie shop and they will all come”. Even in RU-vid only about 3% ever can make a living at creating and loading up their videos. Just like anything you have to have a special niche, something that draws people.
Julián Leiva well whether it’s RU-vid or cookies 🍪 or something else it’s going take something. I used to wonder why a business would put up a new fast food restaurant or some other type of business and surely the people will come and eat or shop there. It’s not a build it or make it and they will come kind of thing it that these businesses have established a reputation over time. Certainly there are other ways to earn more or extra money without devoting your time to work for someone else, helping making them rich.
You should not wait for a market correction. You should do a dollar cost average. If you do not know what I am talking about. Just search on RU-vid or Google.
Simon I don’t want to say this but no... just no. In the long term even dollar cost averaging does work well but it just not smart. Why would you buy something that has a price that is more than its value? That just doesn’t make sense right?
Might can help but no perfect formula to become a millionaire even billionaire, if this formula is perfect, then who will work for millionaires and billionaires if all people are also millionaires and billionaires? ANSWER ME
Hey there! Not at the moment. We're building out our RU-vid presence, so right now all the content for RU-vid is only here. We're thinking of how we might repurpose some of this content but haven't made any decisions yet :)
@@MotleyFool as a suggestion, I usually listen to you guys at the gym while working out during weekends (i am sure this is the case for many) so the advantage of a podcast over youtube is that you can turn off your phone screen, unlike youtube.
I not living to see retirement and if I did..I'd be worthless not to retire well.. I think people need to live for the now but live responsibly while saving a little for the future.
My income from on campus work is $15/hr. Tuition is about $10,000/yr. Monthly new debts on credit cards for rent, groceries, bills, etc. is about $2,000. Interest is getting unsustainably high. International students are not allowed to work off campus nor are we eligible for student loans so credit cards is the only way to pay for expenses. Any ideas how to get out of this vicious cycle?
Humm… why do Motley Fool representatives frequently seem to dis Robinhood? I don’t get it! Yes, I am very much a Fool, but I cannot agree with what I hear at 22:00 minutes into the recording. While it is true that Jason states that “Robinhood is great, it does what it does very well”, and goes on to state that it “set that standard for a younger generation”, … then he states, “but, but recognize the fact that a platform like Robinhood is going to be very bare bones, it’s going to be less robust, and you’re not going to have nearly the information or resources that you would get with something like a TD Ameritrade, or a Schwab, or, you know, the combined entity once they’re done, uh, with the acquisition there…” Does Jason Moser personally have a Robinhood account? I do. I also have brokerage accounts with TD Ameritrade and Merrill Lynch. By far, I like Robinhood the best! Information and resources? We live in a world saturated with information and resources. I hope folks are not limiting their selves to their brokerage for information and resources; although, I must say, I do enjoy reading the daily Robinhood Snacks. Standard for a younger generation? … perhaps; however, I’m closer to 60 than 40. Thanks for the great work done at the Motley Fool!
Hey Johnnie - Dylan here, TMF's RU-vid Manager. We aren't intentionally dissing RH, it's done wonders for the investing community in terms of bringing down fees. But it's mobile-first and a little light on some of the more robust functionality and resources that people who grew up with Schwab, TD, etc. might be used to, that's all. We're all for anything that lowers the barriers to investing and helps get people into the market.
But Mastercard is up over 50% in 2019 and Visa is up over 40%. GM is up 8%. When we're looking at stocks, dividend yields are nice but we like to look at total return, the share price appreciation + dividend yield.
Hey Marty -- love seeing your comments on all our vids. Tom Petty put it best "the waiting is the hardest part" -- but as time starts to get on your side and you're able to look back 1, 3, 5 years it is pretty darned awesome to realize the huge favor past you did for current and future you!
The problem isn’t time. The problem is age. I want to be able to spend and afford the base fundamental things we called the American Dream!! If I’m gonna have to put more than 10% into my retirement account to be a millionaire when I am 60s-its a waste of my youth and the time I have.
Consistency in your income or stock prices? If the former, I understand, you have to be safe living (safety net) before investing. But if it's just stock volatility then you missed the stock sale, lots of cheap prices.
@@WanderingExistence I just got back in stocks. My portfolio consists of stocks between $25 and $60 per share. I'm getting a 5% return on the high side.
What i found compelling was how sad the first three examples sounded. So, save save save do very little enjoy life very little and you can die a millionaire. The disgraceful thing is our country has done so well the last several years and almost none of the extra value created goes to the people who walk into the building and create that wealth.
Hey Bobby -- A lot of those folks saved and invested and then gave money to charity or local causes. That's why there was so much left over when they passed. I think that gets to the point that Jason makes later on in the show: you need some amount of money to be able to live life comfortably and do the things you want to do, but the exact amount depends on the life you want to live, how consumer-driven it is, etc.
@@MotleyFool don't get me wrong, it's great to save and sacrifice for 30 years to secure your financial independence in your golden years, but when people think of being a millionaire this isn't the conotation they are dreaming of... it's to have enough to live a top 5 or 10 % lifestyle durning the majority of their peoductive active adult life. This takes a different approach with at least some of your resources.
401k is a joke unless you stay at one job your whole life. Sure, you can roll it over to the next job you get but without the company match from the first job. Then you need to figure out the fee's involved for maintaining the acct. and if the acct. is even making money.
Except for the fact that you literally double your money up to the employee match. High end fees are around 2-3% and only apply to dividends. Plus you can transfer funds once a year, depending on what your agreement was. Fees matter, but not as much as the frequency and size of deposits, plus the length of time it has to grow
Hey there, so you should be able to keep the match so long as you've been there long enough for it to fully or partially vest. You can check with HR or your benefits people at work for specifics. And if you do leave the job, you can roll it into an IRA at a low-fee firm like Vanguard to make life easy.
Just because someone is 'employed' by a company, it doesn't mean they are not millionaires. Even if that company is making more than the employee. That doesn't matter. People need to understand 'job/income' vs 'WEALTH' (investments, etc.). We do not know exactly what their wealth/investments are. I've seen and worked with people -- some even in what's considered 'blue-collar' jobs -- living modestly, whose net worth indicate their wealth is far more than one would think.
Who needs 1 mio$$ ??? Why do you think you need 1 mio$ ??? Now look here: You saved up 250k$$$ -> invest this in dividend stocks -> get 3- 5% yearly. You´ll get around 8k - 12k yearly. Move in an cheap country -> How about Nepal ?? Or Chile ?
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
I can feel your pains. New guys need to realize the risks that come with all of this. You could lose it all and you could win it all. It goes both ways. Second, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
@@kkybaggy Factos!! Since the market became extremely volatile and pressure increased (I should be retiring in 17 months), I took the decision to work closely with a financial advisor. It has already been 9 months and counting, and I have made approximately 600K net from all of my holdings.
@@ktube2020 That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the Adviser you're using.
There is no get rich quick scheme that consistently works! Making money and making it grow is a lot like gardening -- do all the right things little by little, day by day, and down the road you have something wonderful.
Rob a bank on Facebook live lol good luck wit that. Play safe and long open up a vanguard account and let them manage your account at 1% everyone needs a job . So far 6,965 I have in since started 62 weeks ago and my body feels old, having hope at age 42. Plant seed Garden and add water weekly . And be a blessing to another person dream at one of these companies. 🤦🏿♂️Sucks😭
It depends on the yield of the assets. The 25x advice is for a 4% withdraw rate (sale of assets). To retire with 12x in assets, you ideally should have a portfolio yield of at least 8%. You can do this with any company, but growth companies that pay shareholders will have the easiest time compounding your money to the point you have an 8% yield on cost of your principle.
EF5Tornado 4% withdrawal rate already assumes 7% returns. 3% covers inflation leaving us with 4% to withdraw. To have 8% safe withdrawal you need 11% returns which is not what the market gives on average
Crypto is a good place if you have some extra money .. my 2k investment went to 800k but at the same time my 100k investment now 50k (mistake done i should have diversified there) .. but never put money before you get a clue , watch and learn the market first
Motley Fool. Sever all ties, and affiliation with Hedge Funds, or suffer the consequences. Motley Fool as a business and service is approaching termination. We are coming. You will lose. You will work for us.
Well, anyone can make a few pounds / bucks on the side and have a lot of fun learning how to spot , buy & sell antiques and collectables! Check out a few of our latest videos to find out how.....
Yeah too long if you're already older than that and you'd be dead before you collect.. it's good to save and possibly have some dividends but if you can't spend along the way what's the point just give it all away huh while you make it and giving is good too because you're contributing to humanity.. I found this boring
