Відео

If people buy a starter home (it may be a job to find one, though) and stay in it, they may be better off. No big lot... no big home. Just a smaller home. You are more likely to able to stay in it until you die. The most common sense individuals I see, as I get older, are people (now seniors) who have not over bought, and have raised their kids in these homes. Life happens, but if we try to do this, we can possibly keep our homes. Good luck to all of us 😊.

Please provide concrete stats and figures

I hear you. They are also in debt and underemployed. Thanks for the short.

What you describe is exactly what has happened to my Mom. She did no financial planning, blindly expecting social security to pay for all her needs at retirement, had $15K in credit card debt and a car payment when she retired. While she was working she spent every dime on nick-nacks for her house. She ended up getting a 2nd mortgage to pay her debt and stay in her house. She now needs to go to assisted living but does not have the funds. I hope sharing this will be a lesson. We don't need half the things we spend our money on.

Lot of people forget that whatever the employer matches to your 401K is a free money.

Lol where do you come up with this stuff...the market is hot

I'm puzzled why your advising on 401k when you live in Canada that's inappropriate

I love sea days!

Guys I'm never retiring. I'm going to work my hard labor job until I stop breathing. Work is wonderful. It's great!

Hurricane season June 1 to Nov 30

The cabin is bigger than your jail cell apartment who sells their house to retire early an apartment is for the desperate.

The power of positive thinking is a factor as well.

😢

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, a lot won’t have a house to retire with either.

Will will do the same thing. You also save on property taxes, HOA fees and the burden of home ownership. Congrats!

Most ppl the free and clear home they live for decades is the biggest retirement nest egg. It is wise to think about cashing out and how to allocate this sum wisely. A small single level house in a safe and friendly neighborhood with airport grocers and medical facilities nearby is ideal. But now such properties are pricey. Condo/townhome has HOA and special assessments to consider. Unless it is a 55+ community, noise and neighbors too close are also bothersome. Apartment and mobile home park if not having rent control or faces change of ownership (that may take away rent control), the rent increase could be a fear factor. Location is important. Convenience is important. Wanting to be close to family members is another concern. There is no perfect solution. Taking every pros and cons into consideration, the choice you make would stretch your retirement fund further and retirement life more at peace hopefully.

I don't agree with the thought any debt is bad debt. Totally incorrect view in my humble opinion. I would suggest it depends debt could be good or bad. For instance purchasing a vehicle where the dealership is going to provide financing at 1.9% versus cashing in investments which maybe are earning 5-10%. Seem like an easy decision for me I'm taking the cheap financing money and will maybe increase withdrawals from investments in the net amount of the payment each month so cash flow doesn't change. Your money earns more than it costs in the above scenario. To ensure this kind of arrangement is actually saving you money you have to calculate the cash pricing discount if you lose that by financing as well. I guess to be fair the above example may not be a situation of drowned in debt either but that all depends as well. Debt, if needed, is always wiser to be used for appreciating assets than depreciating assets though too.

I live in the US. Rents here are almost double my mortgage payment. I have the funds to pay off my mortgage but with CDs at 5% plus it would cost me more than $7000.00 annually. Mortgage at 2.25% fixed 30 years.

Is that family income or individual income?

the 401K was devised to help corporations avoid paying pensions, period. i well remember when the suits showed up in our office to breathlessly offer all of us our opportunity to invest in a 401K to invest in our own retirement. to a man, we said this is just a bullshit way for the corporation to save money to pay it's execs more money! the crash of 2008? we lost over 35% of our 401K, like many if not most us citizens. the 401K is absolute BS!

Debt became too easy to get starting in the early 1980s, it’s a curse, it’s a trap. Start early and live within your means. Stop trying to impress people you don’t even know. Expensive cars, boats, cottages, over sized houses, cell phones, sitting in a drive through to buy an overpriced coffee? Heck no!

We always go to our retired people’s homes as they got over as it’s harder for them to travel.

The 401k is a great asset. After 40 years of working and putting 25% of my salary into it as soon as we could. Directed the investments myself and was able to retire very comfortability at 59 1/2. Made the sacrifices to and not living beyond my means in the 40 years of working so I could retire very well!!!! Follow the live on 50%, Save 15%, Invest 25% and donate 10% of your income and all these issues go away!

You are so right about 401ks… the companies need to provide the financial education on them. Most people are lost on what to do, how to allocate it, not to touch it.

We retired 7 years ago, debt free, owning our own home and we have always lived a very simple life. We are 100% self funded (in Australia) from our retirement pension pot which started at $1 million and 7 years later is a little over $ 1million even after the Covid crash and 5% yearly drawdown. For us retirement is about relaxing, gardening, walking with our dog and making sure that our daughter gets a good inheritance.

Absolutely love your channel Keep the info coming Are you still investing in the stock market What percentage of your assets do you have in the stock market Thankyou

Thanks!

I am proud to say i have 0 debt, and over 10k in my checking account, working a job paying 60k a year.

We cruised to Hawaii...and I found the endless days at seas as very boring!

Most retirement sites on youtube / net talk about the financial asspects....Problem is many may have the $$$$$'s sorted out..BUT..they have totally failed to plan what to do with all the "time" they now have on their hands....What are they going to do to get up in the morning?...what are they going to do to feel fulfilled????? Retirement is not just a goal / destination....it is a major life changing event...and you have to have a plan...or year one is going to be very miserable.... Retiree's go through different stages like the stages when you lose a loved one....Denial, Anger, Depression, Bargaining and finally Acceptance..Retirement is more like..Honeymoon phase, Disenchantment, Reorientation, Stability, And finally End of life...I retire in 38 days..of which 18 are work days...We are also cruising to Alaska in July!

I invested in my company 401K for 36 years and it has done well. I am all set for retirement between my SS, 401k w/d, and our brokerage account. You get what you put into it. Time and consistency will do it. I put into 10-15% each pay period over the years.

You’re beating a dead horse when it comes to Americans. Most people feel that SS should cover all retirement costs without any additional saving. This next part is anecdotal- over the years when the subject of retirement planning is raised and a forced contribution through a fiduciary that would likely get better returns than SS is mentioned- the usual response is “only if I can get some or all of the money if needed”. There are many in the USA that withdraw as much as possible , as often as possible from their 401k and never accrue much. I am retired so these conclusions from others have been heard by me over many decades. Future generations do not owe individuals decades of retirement. Just because one was employed X amount of years does not entitle them to X amount of years in retirement.

I will be 62 before the end of the year...im retiring December 31. Yesterday in my community i heard on the local radio of 2 obituaries...58 and 66....i saved for something after all

It was right decision for you two, but we love our house and home We did the costs and it is cheaper for us living at home than pay higher rent How ever you retire, the important thing is that you are happy and at peace

What happens when you die with debt, do they come after your family? Are family legally responsible for your debt if they are not named heir?

I’m looking for your recommendations for an e-sim. I can’t seem to find your previous recommendations. Do you offer a discount code. Thanks :) 👋🇨🇦

Good point. Debt is destroying the young, middle class and seniors. All have to work into their 80’s to escape the debt demon 😈

Transportation is a disproportionate percentage of my expenses, not because I drive a lot but because my 21 yr old, low-mileage vehicle is experiencing aches and pains. Mechanics charge $125 p hr, never mind the charges for replacement parts. But who can afford a more modern vehicle?