Josh, thanks for this basement schooling. For so many of us...we need to understand a) our TRUE costs to live when retire and b) what is social security/pensions going to bring in....then with that presumable gap/difference....how to fund that gap with returns from your "nest egg". Knowing that in the last 100 years there has been JUST twice the S&P has gone down 3 consecutive years is comforting to all us 60/40 people.....
Yep. Every RU-vidr is an expert, but they’re not. Many spew incorrect information. This stuff is not rocket science. Pick equity and bond allocations, withdraw your percentage annually and then rebalance once or twice yearly. If the market is bad during the year then cut back a bit next year. If a great year then reward yourself the next. That’s it. People still chase the “best” returns in retirement, which is the wrong approach.
You gotta differentiate bro. Financial planners that draw a % of your nest eggs are the bad one. Most of the fixed cost or per hour CFP are good people with reasonable expectations.
Several years ago when I was using a financial adviser his favorite saying was "almost enough " when i would ask if i had enough. And thats when I started learning for myself....met Josh's utube channel too!!
@@mikeleclerc4174 I can relate. I interviewed at least 6 financial advisors over the years and concluded each occasion that I could do better on my own. I haven’t regret the decision.
Which is why i dislike "financial planners " and securities licensed folks who say BTID and it will get you a better return than life insurance (normally it will because life insurance isn't built for a return) but they simultaneously say insurance isn't an investment so why do they compare "returns"
@@HeritageWealthPlanning , well Josh the more knowledgeable you are the more inaccuracies bother you. SO... do you want to be bothered by ignorance or would you rather BE BLISSFULLY IGNORANT. 😂
I can't really watch most financial youtubers.. They just don't go into enough depth and just repeat the same talking points over and over again.. Even the money guys show I'm starting to get semi-tired of as it's always the same content and even the lives where people ask questions, it's usually obvious stuff or very niche situations that aren't relevant to 99.99% to people.
Ladies and gentlemen.. the Trinity study… also mistakenly called, “the 4% rule”. It’s a guide. It’s a guide for your accumulation years, and more importantly, your very general guidelines on retirement planning. NO ONE sets a rigid exact withdraw number in retirement (plus inflation). And if you claim you did. Well, you’re lying.
@@cwheremonster8870 I agree. I like the trinity study because it was the first study to put a framework around the question around how much to safely withdraw. That said, it is a guideline and not a rule. As with all aspects of life, one must be flexible and prepared to adjust if needed. Investing in retirement is no different.
My favorite (worst) for "can I retire with x" is Marketwatch. I'm going to tell you what their answer is on anyone's queries, not you can't retire. Almost all of the "Can I retire" answers don't provide enough info for anyone to logically answer the question. I guess if your answer is always no, you have a 50/50 chance of being right.
@@shannonswyatt my fav is Suzie Orman. “You need $20M…” yet she doesn’t know one scintilla of information about my life. It’s stupid (I’m being generous).
Short answer is yes, but I don't know a tool that does it. FiCalc will let you do a guardrail type of retirement plan, but it uses historic data. You always know that the worst is going to be retiring in '68 or '69.
