The $1.8 Million Retirement Lie: How Much You REALLY Need
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In this video we go over the $1.8 Million Dollar Lie that is going around news outlets. You actually may not need that much money to retire.
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Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
⏱️ Timestamps:
0:00 – Start Here
0:46 – The Spend
2:07 – The 4% Rule Is Changing
4:50 – Rocket Money
6:02 – The 4.7% Rule in Practice
7:48 – Other Income Considerations
9:21 – Retirement Calculator
11:20 – 4 Tips to Retire ASAP
I think retiring in a less expensive country might be the way to go!
Yeah but if in the future the dollar isn’t the world’s reserve currency, then your dollars won’t be able to afford even the least expensive country on earth.
Oh yeah definitely. As a french person, we have very low salaries out there and what we get is taxed to hell and back, so the median worker earns 2k a month after taxes. My job is paid about three times less than similar positions in the US so I hate it, but I can’t deny that this makes the place perfect for retirement. Americans have much higher disposable incomes over their whole career even after removing expenses and debts, so it’s easier to save up for a nest egg, and the amount you need would be much smaller here, typically about $500k if you’re using the “4.7% rule”, a lot less if you have other sources of income like social security.
haha 🤣 might be! I heard SE Asia is good!
@@givrally7634Well I know where I’m retiring then. Let me innnnnn. 😂
Of course it is.
I like Dave Ramsey’s 8% rule, which is not backed up by any research papers 🤣😂
lol He must have thought, by doubling the amount most claim, he could sound twice as smart.
8% is easily achievable… all you have to do is think!!! I understand alot of people unfortunately struggle with thinking and number’s… im a pure example and live off 8% in my portfolio and absolutely thriving 😎 👊
🤣😂
@@Warrior_Resisting_Colonialism Dave is far wealthier than William Bengen who invented the 4% rule, then changed his mind later. At least twice as smart.
You can easily move to another country with 500k in saving and live out the rest of your life in peace
My plan. 1.8 million sounds insane for most people outside of the US.
I think I can do that in the US. 🇺🇸
It’s very location, lifestyle and health dependent.
It’s crazy how many bot accounts are on here saying “oh idk what to do with my money”
“Oh I use (insert financial advisor name)
“Wow thanks!”
Don’t fall for this people!!
These bots need to do better
yes agreed, i try to delete as many as i can but they keep popping up!
I agree and it shocks me that people fall for it. Also, why are the names always female and always a first, middle, and last name? It’s ridiculous.
I personally use Margaret Dickinson McJameson the third for all of my investments! … j/k. Yeah those bots are lame.
What if the real bots are the friends we made along the way.
@@Ihave10billionsubs Hahaha yes I use Ben Dover for all my investments LOL
I’m 55 from southeastern Ohio but worked overseas all my life. I have savings of $1,000,000 and I’m ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?
Glad to hear from another buckeye! comfortable retirement depends on your lifestyle…
I would get money management just in case. You’re only 55. I think the average life execting in the US is 77.5 years, but many people live well into their 80s so that $1 million has to last you all of that and the unforeseen. $1m is a great start though. Good for you!
I’m quite lucky exposed to personal finance at early age, started job 19, purchased first home 28. Going forward, got laid-off at 45 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. As of today, my portfolio has yielded over 300%, summing up $836k. Stay motivated friends
this is huge! your advsor must be grade A, mind sharing more info pleas? in dire need of proper asset allocation
Can’t divulge much, I delegate my excesses to someone of great expertise “Annette Louise Connors” preferably you can look her up on the web, her qualifications speak for itself.
My goal is 3-4M at least to retire.
Why?
Mine is 1.67m I have a long way to go I only have 40k networth lol looks like I’m working till 70
I think “retire comfortably” should be better defined. Personally when I hear “retire comfortably” I think golf courses, eating out, maybe a boat, that sort of thing. A relatively high standard of living. So for me “what do I need to retire to be ok” and “what do I need to retire comfortably” are two different questions.
Have your house paid off and live well below your means
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Brittany Utley for helping me achieve this.
Wow. I’m a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I’m in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
You trade with Brittany Utley too? Wow that woman has been a blessing to me and my family.
I’m new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can’t say much.
Very nice job covering the basics. I am sharing this not to brag but to show what’s possible. I’m retired and I have 2 separate portfolios. One is a long term growth dividend portfolio of stocks where i sell covered calls strategically and my 2nd portfolio is the Crypto trading strategy where its all about income. This year I am on pace to make $120K in realized options profits and around $730K in crypto profit… What is great is that my long-term portfolio is still up significantly as well. As such, it’s possible to generate excellent income but still have a total return perspective. …Amidst this, the insights of a knowledgeable guide like that of Sandy Barclays can be crucial. Her expertise in navigating the nuances of trading has been the key for Me understanding and making the most of these emerging financial trends.
If the market has taught me anything, it’s that it always recovers, but I can’t seem to focus on the long run, when major factors like my retirement and my reserve are wreaking havoc on inflation. I require a solid data trajectory and solution as soon as possible.
I appreciate the professionalism and dedication of the team behind Sandy’s trade signal service.
Over the years, I’ve been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Sandy insights. It’s akin to finding a diamond in a coal mine.
Recession are unavailable part of the economic cycle, all you can do is prepared for them and plan accordingly.
Sandy goes deeper than just looking at surface-level trends. she explores technical, fundamental, and sentiment analysis, offering a comprehensive perspective on the market..
Every single one of these videos completely ignores the need for assisted living and nursing care that is sometimes needed for one or both in a couple. That expense is astronomical.
Not necessarily. There are many people with only social security income that lives in nursing homes. Also, remember Medicare and medicaid covers healthcare cost. Once you spend all of your asset othet than your house (that’s protected) then you qualify for medicaid , which will cover what Medicare wouldn’t.
@@xiphoid2011True. But those aren’t the nicest of facilities. I think having a long term care policy may be the way to go.
At age 60, we should all purchase long term care insurance.
@@anthonydooley3616haven’t looked into it being 29. But can long term care insurance be purchased now for less money? Why wait till 60
@@xiphoid2011my wife has to visit those facilities. You don’t want to go to the included ones. Understaffed and nothing to do
Can you imagine Elon Musk retiring today and decided to follow the 4.7% rule? It would be like watching the movie “Brewster’s Millions” where Richard Pryor is trying to spend $30 million in 30 days, but Elon would have to do that in one day. He’d probably spend it on propping up his addiction: Twitter. 🤣
Notice that Elon doesn’t own a house to live in? Smart guy.
I’m not sure how this all works, I retired 3 years ago with 750k in my retirement/investment account, I’ve been drawing 4% a year for the past 3 years and I’m today at 910k.
Because the stock market is in an unprecedented bull market. In a bear market, retirees will not see those results.
@@Raiver-of-Eridu I thought we were in a recession/depression
@@machinesnmetal we are not
@@machinesnmetaltoo many Trump supports are spreading this to misinformation trying to get the orange man back in office. 😂
I’m thinking if you can live off just the interest then you’re good. I’m in mostly s and p 500 index funds and they do 10-12%. Yes I know everything can go to hell, but you have to start somewhere. The more you can get invested the better as well.
I really appreciate the dedication in each video you post. To be successful one has to have multiple income streams and so on, also investors should understand the crossover between asset classes & liquidity flow, joanna claire focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch
Wow. I’m a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I’m in my fifth trade with her and it has been super.
She is my family’s personal Broker and also a personal Broker to many families in the United states, she is a licensed Broker and a FINRA AGENT in the United States.
You trade with joanna claire too? Wow that woman has been a blessing to me and my family
I’m new at this, how can I reach her?
I was skeptical at first until I decided to try. It’s huge returns is awesome! I can’t say much.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that’s what everyone said. I’m still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I’m really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Brooke Miller.
I’m surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
She is my family’s personal broker and also a personal broker in many families I’m United States, she’s a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
she’s mostly on Instagrams, using the user name
I just have to applaud your content man, well done. I remember having a consultation with a trade analyst last August, and it was incredibly insightful, at least $50k—$1M profits. Can’t stress enough how helpful experts in this field are!
Please how do i go about it, am still a newbie on investment trading and how can I make profit?
A better way is to get proper guide!!!! The most important thing is the technicality
Adriana catherine understanding of market indicators is impressive. She knows exactly when to enter and exit trades for maximum profit. her siignals are top notch
Thanks for keeping us informed. I feel for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can’t even enhance the good cost of living anymore. You’ve helped me a lot Ms Adriana catherine! Imagine I invested $2,500 and received $18,200 after 2 days days.
Nice to see you talking about her, sHe is really amazing, she has amazing skills, she changed my 0.3 BT C to 1.9 BT C ……
I recently lost my job at the age of 45. In addition to having access to Tricare and VA healthcare, I also receive a 9K military pension. I’m thinking of selling or renting my house and moving overseas with my cash, assets, and 401(k). What are some good passive income opportunities?
It makes sense to consider a financial advisor at this stage, but delaying retirement might be a smarter choice
reluctant to return to work. I’m not sure whether I should merge all of my investing accounts into one. If so, what should I know and how should I respond to this? In addition, I intend to sell my property, which might potentially fetch an additional $200,000. Is it better to put everything in one account or spread it out among several investments?
These are important questions for a financial planner. I met mine at a summit, and with her assistance, my wife and I reallocate our $1.7 million assets between a regular IRA and a brokerage account. She has been handling the investment with our agreement and has helped us recover twice as much as we lost. Currently holding steady and gently navigating the market.
That’s impressive! My portfolio has been struggling. Who is your advisor?
June Renae Matthysse. Look her up online, she’s well-known.
So far, I’m doing good approaching retirement with about 800k in savings, but transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?
in my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ”return on investment” fetched me millions within a space of 5 yrs.(But I still enjoy working)
sounds great! i’ve never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some help
Katherine Nance Dietz is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn’t buy the idea of letting someone handle growing my finance, but so glad I did.
excellent share, curiously inputted Katherine Nance Dietz on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $100 to 250k into trading from just few months ago and now they are multimillionaires.
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I’ll advise you to seek the help of a professional.
Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I’ve achieved over 80% capital growth this year, excluding dividends.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount… Thanks
NYCOLE CHRISTINA VANNATA a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.