I'm 71 With No Retirement! 

Is the whole plan available in Spanish? I thinking on a gift. Thanks

It’s great advice.

Why is this a big deal?? She needs to chill!

@@gabriela4229 Dude. Go get a vocabulary book

Nothing is EVER Free In This Bab.. System Dave... You A Religious Man You Know This...😆

As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.

Antonio Alex is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

I started working with Antonio Alex back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.

I know him, he is my family's personal broker and also a personal broker in many families I'm United States, he's a licensed broker and a FINRA AGENT

Mind if I ask you to recommend how to reach this particular coach you using their service?

It may be a good idea to speak with a financial advisor who can help you develop a portfolio based on your individual goals and risk tolerance.

Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.

Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and am interested in investing in stocks, and I'm seeking guidance.

*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info

Yep. There aren't many options for this couple. Yet they're still better off than many, many people in the U.S.

​@roadrunner9622 I am in a similar situation. She has enough to pay off the house. They should be able to live off their combined social security checks. Then, any part time job can go to savings.

HEY, watch that , I cleaned toilets and honestly got paid for it. 😂 NOW seriously the reality for many of us oldsters is that those who while young were able to by into the American dreams of owning a house, cars, a family, eating out, partying expensive clothing; forgot to set aside some cash reserves and additional retirement plans for those same reasons their in now. - during those early years when we had the youth and vitality we never seriously took into consideration aging much less illness or life diminishing injuries or mental discapacity. In this skit I do agree that some of the suggestions were acceptable, but at their ages and limited knowledge of the real estate market, one suggestion would be to review their living status better - and possibly rent the house and live in the ground floor apartment rent free - if that were possible.. Review whatever else you own that s not being used and find Buyers for them. Or rent out the house and rent a small apartment. Because with the newfound large savings from the sale of the house, the couple might possibly continue to live according to how "it was then," and soon would end up broke and lose the co-op which is much more difficult to get rid of than the house. Also this couple is eligible for government assistance in the form of groceries assistance, electric companies give credits and lowered power bills. The first thing I would recommend is to gather ALL of their important personal papers, house title, Insurance, heating bills, electric bills, medical bills, BC, marriage certificate, ALL records: PHOTOGRAPH them, then go bright and early down to the nearest social services administration and ask for help - these fine knowledgeable employees will do what they can BUT most importantly, they are like a human "encyclopedia" - they will make many suggestions worth exploring. The most important steps are to go in search of help QUICKLY - not wait until you're caught between a rock and a hard place. Just sayin.' Be Blessed y'all 🙏 🙏 🙏

​@@LaughingblueSu They can live much, MUCH more comfortably on their social security in Mexico or Costa Rica, Peru or Argentina, Thailand or the Philippines.

She may not have control over the finances. He won't sell the roadster. Condo is not the answer as the hoa fees keep going up.

lmao, like us are you making 2k a month and 71 years old. So you're claiming to be irresponsible?

@@adobedobedo409 you completely missed my point. I stated it was good to hear from someone who didn’t make $200,000 a year and was just an average person make an average pay. Maybe you’re one of those people making $200,000 a year.

She's not like me, I'm doing OK with my retirement accounts.

​@@spankynater4242would you like a participation award?

@@kbanghart You're not qualified to give out participation awards. I would ask you to send me cash, but we all know you're poor.

Money buys me peace of mind as a newly retired couple starting to finally break into a large nest egg of decades of savings and investments.

It may not buy happiness, but I’m sure it takes the sting out of being miserable.

Some people are used to it.

Money can buy freedom I think...

Money absolutely does buy happiness. That isn't to say you can't have money and be unhappy....but that is all up to your decisions. You have the money to buy happiness but have instead opted to spend it on something else.

She/ they chose to be in that position. No need to feel sorry for them !

@@jerrylansbury9558 stop.

@@nicholegallo1090 Its true......if a person chooses not to put away money...... " save " its their own fault !

@@jerrylansbury9558 sometimes people have different circumstances than others

@@ImJidionDaddy Exactly.....thats why you plan for the future.......save money !

Nice way to retire. For me, I believe 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 wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

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.

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

I definitely share your sentiment about these firms. Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

In times like this it is better to seek help from a professional as such key decisions are better guided by experts with market experience.

@@DanielPanuzi Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor.

@@DanielPanuzi I agree with you mate, I have found it takes someone who is very familiar with the market to make such good picks. so i reached out to one that appeared on CNBC news in 2020.

@@Jaymilnere hello, I buy into the idea of using an expert but i do not know how to reach one, can you help?

@@ericmendels I’m a Travel-Nurse, and my job doesn’t permit me the time to properly analyze my holdings/evaluate stocks myself, so I’ve had a fiduciary " Alicia Estela Cabouli'' " actively restructuring my portfolio for the past 4 years

Agree…I just talk to a 21 years old.soo yes I agree

I'm turning 25 in a couple months and i'm beginning to see clear as day that youth is vanity!!!

The problem is, most of us don't know if we will get old.

@@mel3165 no youth is still good for doing things you can't do at age 71. You can go whitewater rafting when you're younger etc...

PREACH! That should be on a T-shirt.

🤣

Well he helps people by teaching them how to use their resources. So for someone thats struggling financially and broke of course requires some thinking to be able to help them.

This show has received calls before where the scenarios are really complicated. Not all calls Dave has received are easy to handle.

The roadster is gone. I am god. I just made it disappear. I am Dave.

If you don’t save a penny for 71 years it’s on you big facts

Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

Rachel Sarah Parrish 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..

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 résumé.{

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

Dude, spot on advice. Great job! And yeah, I think we investors overestimate how hard it is to stay in the market when things aren't looking too good. Whenever I'm tempted to either cut losses or capture profits, I remind myself of Fidelity's study of their best performing portfolios; the best performers were either dead or forgot they had an account. So now with directives from my asset manager, I pick assets that can perform similarly in both short and long term. My portfolio has been foolproof so far

Who’s the person guiding you

Sonya lee Mitchell is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

DR should suggest older callers reach out to their local elder experts. Often called agency for older adults or similar. They are free gov. or nonprofit entities with lists of reources. This couple could check out senior rental communities, with income-based pricing. Some have dedicated shuttle buses & recreation like card groups, cornhole etc. The downside: some have long wait lists. No time like now to check these out.

Terrifying. Thats all I can say

@@rethinkcps2116 most that are income based will not consider you if you have ANY cash from the sale of a home or savings in general. I imagine you could put it all in CD's or something, I do not know if they consider that.

Taking notes..for sure

@@rethinkcps2116 Dave is against social programs (and higher taxes).

Yes, I pray she does. Bless her heart, still working hard at 70, when she should be enjoying her days and being with grand children.

Admire someone that 70 years old and no savings ??? Birds of a feather flock together ! Id a disgrace !

@@user-tc3ou6sy5f May God give you peace and a heart of understanding hardship.

😅you people are insane ; life expectancy in the USA is now 76🙈🙉🙊🤣take a break good serfs😀

@@user-tc3ou6sy5f There's a lot more people like her than you can imagine.

Not true. They still owe 350 a month. The Bank owns it.

@@John3.36 cant find a house to rent less than 1k. Even in poorest area

@@yoopally4136 Depends on where you live.

in some states like nj taxes maintenence is just as pricey as rent

@@John3.36 $350 is basically nothing. I couldn't rent even a small house around where I live for less than $1,500/mo.

Yeah its really sad

@@adelea414 Very.

It makes you wonder how they got to this point. I'm sure it was a lot of bad decisions but they probably had some curve balls thrown at them too. That's life though.

@@jamlane they mentioned health issues so yes, probably medical expenses. I wish them the best.

@@jamlane I have heard older people at my job say that when they grew up, they didn't know much about 401Ks and Roth IRAs and all that stuff. They relied heavily on Social Security for retirement. That's why it is important to invest in all those options at a younger age, because Social Security is not a saving grace

Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

My CFA ’Rachel Sarah Parrish’ , a renowned figure in her line of work. 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 Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.

Oh my I know. I was sick to my stomach listening to that long pause!

Oh my God...any connection to Peter Francis Geraci? A well-known bankruptcy attorney here in Milwaukee?

That's what I was thinking as Dave was silent and pondering over this call.

That was a long pause!

But he found a way to get out of it. Multiple ways actually. Dave always knows how to get out of situations like this. It ain’t always pretty, but it works. Also they REALLY have a roadster in a situation like this? Why?

I am wondering the same thing 🤔

Hopefully dead. Unfortunately

These people are not broke.

Remember, they have over 200K equity in their home ... 🏡

@@jamescalifornia2964 But what exactly does that help? If they sell their home, in the current market, they'd be able to afford probably half the home they have now. Unless they want to go live in trailer, they have to keep that $200k asset.

marleen, sad ain't it. made me wanna cry . fr

I work at a phone store for one of the most popular carriers. What convinced me that I needed to live a different way was seeing people in their 70s walk in to the store begging for an extension on paying their bill because they don't have it right now. My heart truly went out to them, it really did, but at that moment I realized that I want to make sure that I'm not having to do that same thing when I'M 70-something.

I hate hearing elderly people talking about being on a "fixed income". In my mind you work all your life so you can do what you want and never have to worry about anything when you're old.

@@channell11 I always say "yeah...and your bills are fixed and hopefully you signed up for bills that amount to less than your income. So...what's your point?"

@@slambig the younger the better. got a paper route at 13? start then. take half your little bit of money and buy the SPY, start compounding.

👏🏾👏🏾👏🏾💯👍🏾

Depends on what you are cooking.. lol

Not necessarily. I actually save money by eating out. Because I eat healthy, organic only, to prepare a home meal is expensive.

@@angelalaskodi3459 Angela I’m sorry that’s just nonsense. You aren’t saving money by eating the same food yet having somebody else prep it.

@@angelalaskodi3459 No way is it cheaper than buying food and cooking it.

@@patty109109 well maybe her organic eating out is simply grazing next to the cattle.

It's best to seek an advisor right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.

I agree, that's the more reason I prefer my day to day invst decisions being guided by a invst-advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invst-coach for over 2years+ and I've netted over $900K.

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the financial manager guiding you?

She goes by 'Linda Aretha Reeves ''. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finance, but so glad I did!!

Thank you for sharing, I must say, Linda appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.

@Hello there, how are you doing this blessed day?

Definitely my fear

Why do you feel bad? They did it to themselves. Years and years of wasting money

Don't feel bad for one minute. They live in a 250 grand house. Bad decisions got them here.....in Oklahoma

Dude I work at a phone store for one of the most popular carriers. What convinced me that I needed to live a different way was seeing people in their 70s walk in to the store begging for an extension on paying their bill because they don't have it right now. My heart truly went out to them, it really did, but at that moment I realized that I want to make sure that I'm not having to do that same thing when I'M 70-something.

@@thomashaas5965 Life goes fast people. You wake up one day and you're 70?????????? BTW. My phone bill is $14/month. Spectrum

@@thomashaas5965 exactly! You get what I’m trying to say

Many many her age are wkg as in-home aides instead

😂😂😂😂😂

I feel like eating out is much more of a common thing to do in the US than where I live. Not eating in restaurants wouldn't seem like such a big sacrifice here.

@@eleo_b it’s not in the US either lol Many don’t. Completely unaffordable. And the foods getting worse here, store or eating out. What is being done to our food is horrible!

Only in America? This has to be a joke.

Just wait. The marxists are replacing American's with new citizenry. Folks that hate or dont care about our constitution or history are the new people of democracy as a our republic is dissolved.

Exactly what happened to my grandmother. She told me she had to fight with veterans administration for her to keep 50% of the benefits. I think anyone entering a relationship with someone who is serving or who is a veteran should be aware that those benefits are OVER the moment the person who served dies.

@@MNcoquicoquiwow! I’m an Army Veteran and didn’t know that retired veterans pension ends for their spouse when they pass away! That’s horrible to fathom, especially after that retiree served for 2 decades or more! In the private sector the spouse of the deceased gets their pension payments. So sad to find this out. I wonder if my brother who is a retired veteran is aware of this? 🤔

@muniondalenewyurk6777 ITS awful. My grandmother had to jump through hoops just to fight for some benefits. She only had enough money to pay the light, water and food AND THATS IT. Nothing luxurious. No traveling. NOTHING. JUST BARE ESSENTIALS. EXTREMELY BARE. My grandfather was a Korean War vet.

I'm retired military as well, 24 years also. Apparently, your grandfather didn't sign up for the Survivor's Benefit. Upon retiring from the military, the personnel office offers this to the retiree. The retiree agrees to have an amount (less than 10%) withdrawn from his retirement to fund the Survivor's Benefit. When the service member dies, the surviving spouses will receive half of the retirement that the military retiree was receiving.

Her eyes blew up at 0:30

Two poke eggs. LOL. It was like a suspense movie. Then he asked another question just like Colombo. LOL

and judgemental too. I was scared of what he would say.. He said it. But once again sooooo right.

Yeah! I've never seen Dave speechless 😳

Dave Ramsey, thank you for seeking the Lord and waiting for His wise counsel!

Taylor: That is wonderful advice. I have family members in a similar situation.

True words of wisdom 😇

Same! Watching my parents, grandparents, and in laws be a prisoner to poor is an eye opener. Also watched my Uncle in law make good decisions and retire early and live a care free life. I choose to put 20% of my income into retirement.

Completely agree! Variance in our situation is my parents house ISNT paid off. Constantly month by month.

Exactly.

No offense, but if it is your biggest fear then I assume you are actively working to thwart it?

Not a bad thing to fear; Good health is our greatest asset; further greater than Money. Starting by leading a healthy lifestyle; watch everyday you eat; stay Away from too much processed Food; Sodas & all that junk that brings in excessive weight gain & cholesterol that leads to more cardiac distress especially as we get older; 40s, 50s, 60s & so on. Exercise is under-rated but it usually keeps our health in check!!! When you have got health ; then all You can focus on are your financial priorities; working/saving Up & investing. It’s not all easy said & done ✅ b’cause Life just comes @ us like an earthquake sometimes; but you can do it!!!

I agree, medical bills will wipe you out!

And dying. I fear death too. I know it's inevitable, but still... T__T

@@Vandicoup Do you have a relationship with God? If not please read John 3:16 If you do have a relationship with him read Psalm 23:4,5.

31 and completely agree!

Exactly and Dave would give different advice to a 31 one year old. Truth is she can not work 40-60 hours a week. And at her age the odds of her becoming very wealthy are very very slim. So the advice he’d giving her is help the rest of her days out with as little stress as possible

At 31 they will NOT pay any attention to this. They are invincible and will live forever at that age. No worries at all generally speaking.

@@randymillhouse791 I’d say there are a lot of 31 year olds starting families and paying attention…

@@mknawabi If they are starting families then they are not paying attention. I never had kids and, no, that wasn't a court order. 🤣

Just try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses

I stopped listening and taking financial advise from these RU-vidrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, In reality, all I needed was professional advice

How can I participate in this?

My consultant is NICOLE DESIREE SIMON She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision.

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

He took time to think about it and explain with grace.

That's the longest pause I have ever saw him take. Sure hope they didn't buy a condo.

Spoken like a true narcissist

@@user-eh8yz6ko3t I thought so too!

I'm not gonna go so far as to call you a narcissist. However, your money is due to your decisions. The money you have didnt fall from the sky, it was by you.

Sure he’s given you blessings, it’s just puzzling why he gives other malaria, cancer, famine, poverty… a loving God, right?

@@johnmwalker8309 Oh those pawns are just there to teach the designated special creatures like him a lesson

Is this guy even have any financial-related degree?? I doubt it.

If they live in the city, moving out aways while downsizing their house to another house (without HOAs) would help.

Plus they can't afford to move.

It's never a good thing to move people in their 70s anywhere.

Sure dont want to live in an apartment or mobile home park. Those rents and lot fees always go up, and up, and up.

Deep South might be cheaper but no state near a metro area

@Anthony Harris 👍🏽 ...shelter is the biggest expense

they are still buying fancy cars (11k in debt), have some fancy thing at home worth 10k (i don't even know what that thing is) and they do eat out! Maybe they are enjoying the stress!

Thats why getting rich asf is important

Retirement is no guarantee some ppl just build different streams of income instead. However if you feel you can live long enough for retirement go for it.

They did it’s NOT enough

You're thinking too hard. Invest for long term. No one has the answers you seek. No one.

@@GDuncan8002 Off-topic posts like that are shill posts for spam, but the spam post got removed. There's tons of these scammers in the comments.

@Bobby Blue This is exactly how i wish to get my finances coordinated ahead or retirement. Can I get access to your advisor?

@Bobby Blue Thank you for the lead. I looked her up, and I have sent her an email. I hope she gets back to me soon.

If I were in that situation and it was possible to receive some salary in dollar in pension or retirement while abroad, I would move to a Latin America country. She could live very well here in Brazil with 2 thousand dollars per month, best than most Brazilians. Better than work until 90s.

Great landlord surviving off the back those less fortunate than you

Landlord 😂

Because maybe they didn't count pennies at 50 or 60

@@Columbus1152 or even 20 and 30..

this is the future for all of us.

@@Mike-qc8xd Doesn't have to be

@@Columbus1152 Exactly. Some advance planning early in life means you're stacking money and living large in retirement. If you've done things like pay off all your debts (including mortgage) when young, you can live very well.

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 needed a good boost to help my dwindling stock portfolio stay afloat, hence I and came across an expert who helped a lot to grow my port-folio from $275k to approx. $850k in two years.

My financial advisor is *Sharon Louise Count* I found her on a CNBC interview where she was featured and I reached out to her afterwards.

SCAMMER ALERT: you and the posters below who commented are scammers, posing as strangers to one another.

buy assets... property, gold, silver, etc... no reason for you to be invested in the stock market when ur retired. too risky

Start saving now even only a little out of each paycheck and don’t touch it til retirement. Wish I had done that at 19.

Watch it carefully.... hundreds of thousands of seniors are in these shoes. Thank God you can get a job if you want one.

And here is me, living in Europe figuring out how to "go retired" before I am 50....I can't belive how tough is living in US

Buckle up kid, it's going to be a bumpy ride 🤣🤣🤣

@@dianenotch2471 Me too. But I got out of all debt in my early 40’s. No mortgage, no credit cards, no any debt !!! 👍🏻😂

I live in a condo and I haven't experienced that. My condo dues have gone up once in the seven or so years I've lived her (it increased about $15-20/mo) and we've never had a special assessment. The benefit you're overlooking is not having to worry about things like lawn care, trash pickup, snow removal, putting on a new roof, etc. That's a tremendous benefit, especially for someone their age and in their predicament.

@@1981lashlarue My condo fees went from 198.00 a month in 2012 to 380.00 a month starting 2024. We've had a 5,000 emergency special assessment once in that time (for sewer work). You're lucky yours hasn't gone up (mine is a little condo built in 1975). I'm on the Board, so I know nothing in the fees are being wasted.

@@WoodlandDance That is a hefty increase. I moved in in 2015 and they were $180. They just went up for I think the second time or so and are now $240. We haven't had a special assessment since I've been here. Why did yours go up so much at once?

Go somewhere similar with no hoa

Exactly my mortgage pmts are $700 month plus utilities no way could i afford apts or homes for rent in my area!!! I took on a tenant in my house to help me after job loss covid & 2 breast cancer surgeries! I have a dog a yard a house i hate apt living and condo 😢😮 so i do the best i can with a bad situation. Why do they need to go into a condo? He did NOT ask what mortgage pmts are conpared to condo pmts

Quentin, we are rooting for her but the reality is , all it takes is one illness and she is back at square one. it is scary as hell . Dios Mio !

I'm trying to avoid it but everyone keeps bashing me for it and criticizing me for it they call me stingy and money-hungry in my church for want to do this. been in the church for 26 years now I'm 26 years old btw and have been the same thing since I was a kid.

@@breakingben9575 It is important to consider other people's perspectives as well and find out if maybe you are stingy or money-hungry. As long as your focus is on God and not on money or future security in money you are probably doing the proper thing. If you in debt you do need to be a bit stingy and change your habits of not going anymore into debt at all. If you have no debt, but not a lot of retirement you do need to relax a bit and not be so stingy. :) If you are doing all the right things financially but still not able to make ends meet, you need to either find a better paying job asap or take on a second job. Of course I am just generalizing here and do not know your situation. You may also be in an unhealthy church that is not focussed on what the Bible says, so you also want to check into that as well. And it might be useful to run a financial seminar there as well.

@@Kojow7 I am in dept and don't make much money.

@@breakingben9575 So you need to figure out what has been putting you in debt and change that immediately. If you do not make much money you need to start looking for a much higher paying job today.

@@Kojow7 this includes my parents. I have 20000 my parents have over 100000 as far as I know. They don't pay the student loans back.

Beautiful comment! I agree!

Time and unforeseen circumstance befall us all.

Thank God they had saved the 25K. Many don't even have that....

Exactly true everyone bashing them with their glorified savings regimen I bet wouldn’t know what to do if something happened

They have a roadster and 250k house. I don’t think their life was that Chaotic. They bled money.

And the schools teach about polygons and other worthless life lesson's. Not the reality of life!

Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor

@@MarcusFred-wn3iv In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.

@@MarcelPhilips Please provide the information for your investment advisor here. I really need it now.

@@MarcusFred-wn3iv She is KRISTIN GAIL CUNNINGHAM , my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.

@@MarcelPhilips sincerely thank you I looked her up on the internet and was awestruck by how qualified she was; I contacted her since I need all the help I can get with canning. I've just scheduled a call.

Save n invest Bro.

It's not that hard. Just buy a house in 1998.

@@markusParkus233 and in 2050 people will be saying should've bought a house in 2024...

I started saving late in my mid 40's mainly just in case I got old. Well I got old. If I had it to do again I would waste less when I was younger and invest more early on to take advantage of compounding. I think I'm ok but I don't take it for granted I still live on a budget.

It's not all bad decisions that lead to these situations. I worked hard, had a six-figure job, savings, retirement/investment accounts, and equity in my house. That got wiped out in the 2008 recession when I was in my late 40s. No discipline in the world would have changed that.

Mine too 😥

Me, frist.😳😳😳 scary

Good news is you have control over this nightmare.

@@teresavict1831 how old are you

How old are you guys

If wishes were horses then beggars would ride

@@DisabilityExams ...

So clear and concise because she's reading a script.

They've not planned their lives well at all .. it's sad. At 71, you're meant to have retired already.

@@remmymalone6700 agreed. I kinda wish she went into detail on how this happened. Everyone has a story. I have a friend that made a good living but because of a kid that was addicted to drugs, stole money borrowed money, was enabled and sent to numerous very expensive clinics the parents are in rough shape financially. Sad but sometimes time moves faster then we’d like.

Excellent

Good going,nice move.all the best

Glad you did yourself that favor. As you heard here, there will come a day, that we just can't work anymore. You want to be prepared with enough cash and to get you by and make due if that day should come.

@@waterheaterservices Agreed.

Smart move.

Words to live by!

Rice, beans, and homegrown vegie time. Streeeeeeetch that budget.

The American Restaurant Owners Association wants to know Dave's location.

@@waterheaterservices 🤣

@@waterheaterservices Why?

Me too with in-laws

@@ariv8585 It sucks......

Yes this is my parents.

This definitely sucks, but even if you tell people most won't listen especially when they're young

What are your parents doing?

Yea that's the thing you grind hard for many years in hopes for that good retirement. However theres no guarantee if you will make it and some ppl won't take that chance.

Most of us will make it to the age of 65 though, so we need to plan accordingly.

most will make it, AND need it... there is no choice, you have to save for retirement. if fate has it something happens to me than the money will be there for my wife and more importantly for my kids. someone will benefit that I love.

Precisely why I started collecting at age 62. It got me out of debt, and got me some breathing room. I too have unfortunately seen many of my coworkers pass away in their 50's. In addition to collecting SS, I picked up a part time job. ✌

@@marcopiscina4848u can work n still get SS?

yes...and Dave just mowed right over what she was trying to say about HOA fees....! sheesh!

And not only HOA fees but assessments. My mom lives in a condo and the amount assessment fees she has paid over the yers she could have bought a house.

Yessssss. They should pay the house off and then the car and be done.

@@genacunningham1731 Not every condo has high fees and assessments. You have to do your research on the HOA and buy into a lower end development with minimal amenities (keeps maintenance costs lower) and well run management. You can look into the HOA budgets before committing to purchase. Lower cost of living areas are more likely to have affordable condos with low maintenance costs. That’s why he was recommending places like Oklahoma City.

So send her money, it's your mother

I get the feeling the kindly elderly person was not saying how they overspent way beyond their means for decades. They are facing a painful financial pinch, which is not the same as financial devastation.

They could just move into a condo and retire modestly.

They may get so they can't really work at all. But I think they can make it ok.

This is just scares me to death. So many on this path and don’t want to admit it. This video is a good reminder.

Terrifying.

No widow benefits?

Depending on the children, age, sids risk, childs health and if it is highly active.

You are nice pretty and respectful

My mom says cleaning is easier than watching children

@@dianac6250 I have to agree, but some kids are easier than others.

Omg watching kids is way harder than cleaning!! Of course it depends on the kids.

Understand your options when it comes to retirement savings accounts and investments.

Calculate your net worth on a regular basis to see if you're on track for retirement. Work with a financial professional if you need help or advice.

Who are you working with ? Been trying to get my feet on it.

TAMARA DIANE HAGAN does a good job for me. Look her up on the web.

Thank you. found her profile and will be sending a message.

They have 250K in equity... do you have that?

@@johnSmith-uz8nl I'm 24, and I have about 65k working a eh job and being smart and handsome and wicked. By 27 I'll have that. It's def a horrifying wake-up call

By its I mean this call

@@GamblinDan good for you. Not everyone is as lucky. Stay humble bro

Keep your eyes on the prize, bro. I started out like you but marriage, house, kids happen and you can get off track easily when you’re tired and stressed. Great to hear you are hearing these stories as a reminder too.

Yes. Eating out costs so much!!! Don't over spend!!

Only Rosie O'Donnell can afford to eat out for chrissakes.

Yeah she may know what to do but it’s not up to her it’s up to them(as a couple)

It helps to hear it spelled out. I am taking a class right now in quality engineering. It is all mostly common sense however I will be a better engineer because of having these concepts spelled out.

you shouldnt be eating at 71 you need to be fasting.

She'd have to find a condo without an HOA.

Yup. All my family works for UNIONS. We stayed out of the private sector 40 years ago. UNION UNION UNION! WE HAVE PENSIONS

Me, I'm learning and it scared 😨 me, but, I will stay focused on my journey to keeping moving forward.

@@SamuelClemente7718 thank god i stayed with my union job

@@SamuelClemente7718 Nothing is wrong with your thinking but it is not the only way to skin a cat. I work for a private company and I too have a pension. BUT I don't count on it.... that is I made my money REGARDLESS of any pension.

@@johnSmith-uz8nl 401k is not a pension.

SS is a ripoff.

Keep it up! You're gonna end up very well off.

Social insecurity is the truth. Its all a ponzi scheme!

God.... with a capital "G". Just saying ! 👍

Good choice you will do great later on in life . Another good choice is real estate buy and double your payments get it paid off it will always hold value and you’ll be mortgage free before retirement

he didnt say it was bad. he said it was too phsycially demanding for her age- and he's correct

@@tahitiantreatskeetjuice5587 Correct. He was quite respectful about it.

It is also a pretty poor job to hold, so while it's honest work, it is pretty bad. In the end $24000 a year doesn't cut it in almost any place.

He said it negatively because she 70 years old cleaning home. It isn’t something that easy on the body

He did not say it negatively, he simply said it is hard work but you can make good money.

@@paulsmith2279 despicable people...not planet 🌎

They really have more resources than they realize if they can live frugally. I don't think Dave should have been so gloomy.

Sure you can, it all boils down to consistency, people most often overestimate what they can do in 1year and underestimate what they can do 5years. Best of luck.

I agree, I'm into real estate too. I started dabbling into stocks and crypto due to it's liquid nature, made some pretty decent cash and I went all in. Didn't know much about stock/crypto, hence, I made an avoidable mistake and lost all of my gains that same year. Came by a coach commended by an associate, we connected. It's been 3years and counting following her guidance and I've made over 4million dollars, so yea definitely $20million is obtainable in 13years...

@josephbush Very well said, that's impressive, I'm not much of an investor, I basically have all of my money sitting duck in my savings, been trying figure out what to put my cash into seeing inflation is at it's highest and I really would love to discuss with the coach that guides you

@marvishaN The adviser that guides me is HEATHER LEE LARIONI. She works with Empower FinanciaI services near my old office so I see her often to discuss my business. There are a lot of independent advisors you might look into. But for me, her strategy works hence my result. She provides entry and exit point for the securities I focus on

@josephbush She appears to be well-educated and well-read. She seems proficient considering her résumé. I ran a Google search on her name and came across her website; thank you for sharing.

I remember one year when I was getting my taxes done at H&R Block and a 30 year old woman was sent up to the front desk after her taxes were prepared and she was supposed to write out a $2000 check to the IRS. She was screaming at the receptionist that she doesn't have the money to pay the IRS. The receptionist was cowering in the counter and didn't know what to do. Very tramatic in that business.

Good luck to you both

@@MyLifeThai371 File an extension. It has to be paid or the IRS will start to garnish your wages. NEVER EFF WITH THE IRS. You could go to jail for tax evasion.

@@MyLifeThai371 wow, that's scary owing that much

Our tax system is unfair and helpless...sadly.

well said.

You are 100% spot on (seriously).

Exactly. Financial literacy is not taught in high school or college really. Why ? Simple. Politicians want control of societies people. AKA the strangle hold.

Hoa fees all a condo is an apartment but with fees it’s a dumb investment

Why do people believe that all people, when they get to a certain age, have to have a care home? Or, any kind of care at all? They fact is, is that most people will never need a care home and are actually quit self sufficient, needing very minimal assistance with ADLs ( activities of daily living )

I agree man that house is gonna be the cornerstone of their retirement

Agreed. Sell the roadster. Pay off the house. Use the monthly mortgage money to start paying off the car. If you lose the car it’s not that big of a deal.

Don't the cars have higher interest on them? Anyway, I would pay off the one with the higher rate and pay of the rest slowly. They were also stupid buying a car with $11k loan.

@@baxakk7374 she wants focus on the house because it's their life support and their earning potential is in jeopardy.

I would sell the vehicles they owe money on, stop eating out, take that car payment...put 1/2 in the savings and pay the other 1/2 towards the house payment...