One approach could be focusing on building a robust emergency fund to cushion against unexpected financial shocks. Additionally, exploring insurance options to mitigate potential risks could provide added protection
Agreed, having a financial safety net is paramount. But how can we ensure our investments are aligned with this preparation strategy? Any thoughts on how to optimize investment portfolios in anticipation of the silent crisis?
Investing wisely is crucial, especially during uncertain times. Consulting with a finance advisor can offer tailored strategies to safeguard investments and navigate potential crises.
indeed, most people downplay the roles of financial planners until burnt by there mistakes. Productivity is optimized and keeping up to date strategies and analysis makes it more lucrative. I've been able to navigate the volatilities and scaled up 80k from 20k with professional
sounds like your purpose is work, nothing wrong with that but most people I know who are retired all say they wish they retired sooner. Caveat - my circle of retired friends have many hobbies, activities and volunteer work. Not everyone is in that boat.
Althought I am a brazilian Architect, I´m 66 and worked in Miami in the 90´s whewn I had the opportunity of knowing an USA completely different then what it is now. People were happy and hopeful, and to me America looked as the best place in the worrld to live. Since then, every time I returned to USA I noticed that the overall situation was becoming worst and worst, and so I can understand perfectly well what you are saying and I completely agree with your abalysis and advices. Congratulations for the channel, I have been watching all the videos to be up to date with is happening in my ex-perfect place in the world.
Thank you for your feedback. Things here are changing, and not for the better. We have to change who's control at the top...you know, some there's actually some control. Things are getting out of hand.
I'm already there - house was paid off right before COVID hit - no other debts. I use a debit card and pay cash whenever I can. I'm retiring early at the end of 2025 so I've been stuffing my retirement accounts the past several years.
Everyone has a unique situation going into retirement age. The best advice is simply to start thinking about it and planning for it ahead of time. I suffered a huge financial loss about 10 years ago. I’m in my 60’s and plan on evaluating my options when I’m ~70 in a few years and fully vested in my retirement plan. I moved into a 70+ year old extreme fixer small house so that I could have a paid off house. My cars are fully paid and I’ve eliminated most silly spending. I live frugally, but not cheap - I still eat out a couple of times a week. My monthly spending is currently ~ $1,400 monthly. I plan on spending money on future proofing my house so that no major repairs will be needed during my retirement. I think I will be all right, time will tell.
you gave good advise, how many will listen?? I worked the same job for 30 years, and paid into a retirement account,, so glad I did, now, after my wife passed,, im able to still put some cash back, I dont drive a fancy car or truck,, my home is simple and paid off,, Live simply,,best advise my Father gave me.
yup that is what gets many ppl GOT TO HAVE A TRUCK!!! GOT TO HAVE A TRUCK!! GOT TO HAVE A TRUCK!!! (car TRUCK commercial here). girl at the store, making a tick over minimum... i have a TAHOE!! $500 month for truck payment, $300 for insurance for something that sits in parking lot at work and driveway/parking lot at home/apt??? making $1000 month???
Great video. Our ancestors came here looking for a better life. It's funny now that if we go back and retire where our ancestors came from we would have a better life. I'm 54 and thinking of retiring in Spain because the price of living is so much cheaper and Spain is beautiful. Just a thought for anyone reading this.
Without getting political...... We have plenty of $$$ for other countries. But SS needs to be cut? Thankfully I listened to people when I was younger, but I paid into this . I want it
Without getting political, a politician's number one priority is getting re-elected. Cut SS and you are finished. It's a math problem and the answer is going to be a two to three percent increase in payroll taxes, split between workers and employers. Not going to bring the country to it's knees.
My husband and I have known for a very long time about the cut in Social Security in 2033. We had planned on him working till 67 but after two spinal surgeries and a few other surgeries it’s just too difficult for him to work so we’re gonna retire at 63 instead luckily he makes you some money so it’ll be more than the average but Not a whole lot even with his pension but enough to more than pay our bills and have extra so that when they do cut it with all the coolers we should get between now and then we should still be just fine. Luckily we bought her home along time ago and the mortgage is at 3% so we should be OK. But yes I wish we could’ve had more time because we have very little in our 401(k) and It’s coming. So yes cutting back on everything is key eating out is the biggest thing. Groceries are through the roof so you have to figure out what you’re going to eat and buy carefully. They’ll be a few apps we have on our TV that’ll probably go bye-bye when we retire in June but overall I think we’ll be OK because we are aware of. We have side hustles as well and that is something people should look into as well !
Ok. THANK YOU 😊 Thank you Thank you 😊 🙏 That's my age and that's what I had gone through. So all the BS out there, and you highlighted the real event of my age group that listened to "sound advice"
@@hrhtreeoflife4815 Heck, everybody lost money in 2008. I was laid off for 8 months. didn't touch our retirement money and made do without so when the market recovered, we made our money back.
People spend more on vices than they do on health care insurance and investment. I saw a statistic that 48% of the U.S. population had less than $5,000 in assets. And that includes equity in real estate. Most people are broke. But have you seen all the bars, liquor stores, and smoke shops? They are everywhere here in Florida where I live. I guess the lottery is the only hope!
figures lie and liars figure ;) half have something to retire on, the TRUE BOOMERS... not the young boomers that got caught in the prop wash of the TRUE boomers that got in when the getting was good and rode the wave at its peak. even some of them fell off the wave before rode it all the way to the beach. each gen of americans will have less and less than their parents did. inflation outstrips any "raises" (COLAs) that the bottom 50% get from employers. warm bodies a dime a dozen. everytime i go to place to get.... there are new faces behind the counter. job hoppers? i dont see the point, they are all the same job, different ppl/same pay....
Knowing where to put your money while you're saving for retirement, knowing where to put your money after you retire is just as important as starting to save in the first place.
Retired at 56. Started in my 401K second paycheck out of college. Back in 1984. Company match of 6% of 80% up to 6% of pay. Equaled 5% match of pay. I finished with about 30% of pay going into my 401k. 401ks are great. Stick with it.
Great stuff!! My oldest listened to me and started a roth at 20yrs old, he will retire with 2.5 million maybe more. He's seen the growth and is motivated.
Well, if you're a bank executive and didn't see that coming in 208, you probably weren't well adapted to your job. I'm a furniture mover, not educated beyond high school and certainly seen this crazy house pricing couldn't last. I'm sorry to hear about your situation. Doesn't look like your suffering though
@@TheRealLivingWithLisa I appreciate you and of course money is fleeting in many ways. We live a very fortunate life here in the US in the most part, as long as we're willing to be reasonably responsible and give effort
No one told me to start saving our twenties because our parents had pensions and their expenses in retirement were relatively less. Started in my mid thirties and saved enough by 66, or so I thought, costs have gone up since I retired that I’m not so sure.
yup, that is what got my old man, he retired early... but didnt factor in HYPER inflation of OPEC holding the USs oil hostage in 73/74 and prices going UP UP UP... and again in 78/79.... 82.... 87... if he factored in 3% inflation... that was not enough as some of the 70s were over 10% inflation and that is what the gov spin drs were telling us. the gov does not want the sheeple to panic and RUN on the banks... as in 1929 when everyone was living on credit and the bubble burst and...
The government can simply print 🖨 the money 💰 as it does for everything else. After all, consumption goes down the older one gets with the biggest cost being medical and shelter. Unfortunately, prices always rise faster than what people earn, in this debt driven monstrosity of an economic system. 😳
Also, companies are receiving tax credits to hire migrants. There are a lot of infrastructure plans for the future that the public doesn't know about, and there is great need for a workforce to renovate and build this new and existing infrastructure. From a business perspective it makes perfect sense. Take unworking Americans and place them in office buildings reconstructed into low-income housing and give them Universal Basic Income. Utilize the migrants to do the construction at cheaper cost. BRILLIANT!!!
I don't believe in universal basic income... aka "socialism". That come with many strings. I'll WORK and do as I please... big brother can pound sand. But thank you for your comments.... i love reading them. 😍
Love your content! With savings.... where do you think is the safest place to save?? Stocks? Bank Savings account? Credit Card Savings account? or cash under your pillow? Help!!
I'm not a financial advisor.... so I can't give you solid advice.... all I can tell you , everyone is saying there's volatility on the horizon... I'd be in treasury's. But that's just me...
Your a smart cookie. I like that picnic table you sat at here in Massachusetts illegal immigrants burned our picnic tables at the parks . To keep warm .
if we never made more than subsistence wages???? hand to mouth existence? read in personal finance book in 2005 that if we are not making $40K yr.... there is nothing left over after paying the bills. even working 1.5 jobs i didnt come close to $40k/yr... well one year i did, then lost that job. started all over again at LESS money (of course... every time... start over making LESS money. and when we do that all of our days... next thing we know we wake up, were 50 yrs old, no one will hire us as we are OLD. too old to go back to skewl and get.... degree???? and then what? drive truck over the road for $10/hr and NO benefits... if we can pass the physical? and work 18 hrs a day to put 10hrs in the DOT lie book to make $50,000 a year???? with one week off paid??? when truck driving is 2.5 full time jobs rolled into one, no overtime, no vacation pay, no benefits. hopefully our back/knees/hips ... health will hold up til we ae 65 and can retire with some $. live in our own truck? at truck stops/ Hotel WM? ppl dont plan to fail, they fail to plan. dont think abt it... just think SSI/medicare will be there for us... medicaid... that has been running "negative" for a long time 2008? syphoning off funds from other gov programs to stay afloat? it is a train wreck in the making.
Glad to know many of us were in the same boat Lisa. Had a bad turn towards the end of that recession. first time ever laid off. like you re-invented myself. We have to learn from history. (ok, same young age here…no worries. we are gonna make it! we don’t drink the kool-aid like the rest of Sheeple. (I didn’t get that good advice early either…) Thx again. Keep on reporting, so relevant awesome. we will be lucky if it’s not until 2034.! 👍👏
Very practical suggestion. And oh, so true. But IDK what will happen to our kids with their future. I have a step daughter-in-law, a teacher her advised to her student not to invest too much in SSS but plan/make/save for your own retirement account bcoz this country is not the same anymore. 🇺🇸’s debt is probably gonna be paid by their great great grand kids IF this country do not change, we are being called “1st Class 3rd world country”. All these illegals coming here thinking they gonna live here & will have the same 🇺🇸 they see in the 🎥 or in 📺. NO. It is sooooo sad it’s changing (fast) for the worst. Thank You. Stay fabulous.
No 2034 they start reducing your take home amount by 20% .. and it could be more if Biden stays in office.. all that free stuff the “ new comers” somebody has to pay for it.
@@TheRealLivingWithLisathey just changed the year to 2035, and it will not happen anyway. Just fear mongers. They will change the age for benefits, current recipients will not see cuts. Do look for change in taxes, payroll taxes and claiming ages. We are on SS now and benefits are quite generous depending on your situation. You will still be able to get “enough” if you plan ahead and the key is NO DEBT.
You sounds like a banker If you don't know how to manage your own money and invest your own money you do not deserve have any money go ahead give your money to 401K plan what a joke it is
