#retirement #retirementplanning #retirementgoals #retirementstrategy
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DISCLAIMER: InvestAnswers does not provide financial, investment, tax, or legal advice. None of the content on the InvestAnswers channels is financial, investment, tax, or legal advice and should not be taken as such; the content is intended only for educational and entertainment purposes. InvestAnswers (James) shares some of his trades as learning examples but they are only relevant to his specific portfolio allocation, risk tolerance & financial expertise, may not constitute a comprehensive or complete discussion of such topics, and should not be emulated. The content of this video is solely the opinion(s) of the speaker who is not a licensed financial advisor or registered investment advisor. Trading equities or cryptocurrencies poses considerable risk of loss. Kindly use your judgment and do your own research at all times. You are solely responsible for your own financial, investing, and trading decisions.
0:00 Introduction
01:00 The Story
01:39 Global Looming Pension Crisis
02:24 Does the US Have a Retirement Crisis
03:09 Percentage of Cohorts Facing Retirement Probs
04:27 Three Shocking Stats
05:08 Why Don’t People Save
05:21 42% of Americans will Retire Broke
05:38 The Gen Z Retirement Obstacles
06:07 40% of Middle Class Americans will Fall Into Poverty in Retirement
06:37 Zoomers Have Big Plans!
07:10 Zoomers Want More Quality of Life, Less Work
07:53 Everyone Needs Help Planning
08:28 Why Having a Plan is Critical
09:38 Where People Source Info!
10:37 Younger are More Delinquent on Credit Cards
10:59 Record Auto Payment Delinquencies
11:24 Why UBI is Coming to USA
12:00 UBI Coming To a Place Near You Soon!
12:51 How UBI will KILL Economies
14:23 Global Age Dependency
15:24 Workers per Retiree Tipping Point is Past
15:53 Even Simpler Pension Math 3:1
16:14 Population Collapse – Collapse of Civilization
16:52 Retirees Are Expensive – eg NY Sanitation
18:25 Retirees Are Expensive – eg CA Administrator
18:38 Unfunded Pensions 8.28 Trillion
19:02 Government Pensions Are Legal Ponzi Schemes
20:00 When Will Social Security Run Out?
20:47 UK Early Retirement Conundrum
21:39 Mercer Returns – 4% Ain’t Gonna Cut it!
22:35 $400 Trillion Gap in 20-30 Years
23:23 Saifedean Ammous – Losing 14T a Year
24:04 What Global Investment Banks Do w Your Retirement Funds
25:05 How To Fix It?
26:04 Rule of Thumb
26:40 6 Step Process to Making It Happen
29:52 Blaze Your Own Path!…(read more)
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How to Retire on YOUR Terms 💸
Retirement is a much-anticipated phase of life that allows you to enjoy the fruits of your labor. It’s a time to relax, pursue hobbies, and spend quality time with loved ones. However, retiring on your own terms requires careful planning and financial discipline. Here are some essential steps to help you achieve the retirement you desire.
1. Start saving early: The earlier you begin saving for retirement, the better. Compound interest can work wonders over time, so don’t delay. Consider contributing to retirement accounts like a 401(k) or an individual retirement account (IRA). Maximize your employer’s matching contributions if available.
2. Determine your retirement goals: Take time to reflect on your desired retirement lifestyle. Would you like to travel the world, start a small business, or simply relax at home? Understanding what you want from retirement will guide your saving and investment strategies.
3. Create a retirement budget: Calculate your expected expenses in retirement, including housing, healthcare, leisure activities, and daily living costs. Be realistic and thorough when estimating these expenditures. This will help you determine how much money is needed to sustain your desired lifestyle.
4. Assess and manage your debt: Prior to retirement, it’s crucial to pay off high-interest debts, such as credit cards and personal loans. These debts can be a significant drain on your retirement income. Create a debt repayment plan and stick to it, focusing on paying off the highest interest debts first.
5. Explore investment options: Diversify your investments to minimize risk and maximize potential returns. Consult with a financial advisor who can guide you based on your risk tolerance and retirement goals. Consider a mix of stocks, bonds, real estate, and other investment vehicles to build a robust portfolio.
6. Consider healthcare costs: Healthcare expenses tend to increase as we age. Ensure you have appropriate health insurance coverage and explore options for long-term care insurance. Estimate potential medical costs and factor them into your retirement budget.
7. Have a contingency plan: Life is full of surprises, and retirement can bring unexpected expenses or changes in circumstances. It’s important to build an emergency fund to provide a safety net in such instances. Aim to have at least six months’ worth of living expenses saved in an easily accessible account.
8. Stay informed and adapt: Keep yourself updated on evolving financial trends and any changes in retirement policies or regulations. Monitor your investments regularly and adjust your portfolio as needed. A proactive approach and regular reassessment of financial strategies will help you retire confidently.
9. Seek financial advice: If navigating retirement planning seems overwhelming, consider seeking help from a professional financial advisor. They can assess your financial situation, provide personalized advice, and help you make informed decisions tailored to your retirement goals.
Remember, retiring on your own terms requires planning, discipline, and foresight. By taking the time to understand your goals, save diligently, and invest wisely, you can embark on a retirement journey that aligns with your aspirations. So start early, be proactive, and pave the way to retiring on your terms – in financial comfort and fulfillment.
I am 10 years older than James and learning tons from this gentleman. Never stop working and learning !
well… the world is a mess right now, i guess that's why gen z are not so interested or worried… But we are worried about the future for sure. the thing is that there is more corruption than ever, wars, bloody gold, bloody fabrics, bloody oil. the big companies want to rule the world…
Love you James ❤
Nice Video, I'm interested in investing for retirement, I read a success story of a guy that made a profit of $4.5million in 28months and I'd really appreciate tips on how to reach such figures in a short period of time.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them.
you "Work" so hard because it makes you feel useful. lets just call a spade a spade James
Funny they want to stop you from keeping Bitcoin in your own wallet, they can’t steal it there
This is beyond amazing. Success has no shortcuts, there’re ways to attain it.
Thanks James for educating so many people. We need this information to shield ourselves of the mess the financial system is heading to… because the government only bails out the banks. Keep up the fantastic work!
Much appreciated James and community!
This could have just been titled: "communism/socialism fails again… shocking." I'm sure all of collectivists are working hard to figure out how to get rid of math so socialism can finally work.
Question!! If I want to invest $1 million and have the best profits in the next five weeks, what will give me more returns buying stock of Tesla or buying bitcoin, or Solana? thank you
I love James and almost everything he puts out. But this was not one of his better outputs because he is limiting himself and his followers to mainstream thinking about retirement and economics. He seems to believe we should all be working harder and for longer, even though most of us watch this channel because we are sick and tired of/from working harder and for longer. He only sets out the potential negative aspects of Universal Basic Income without mentioning any of the positive aspects of it, especially for those who are happy to work hard but not as a wage slave for a boss, and the billions of people around the world who are working extremely hard but not getting paid (such as mothers and carers). He fails to make any mention of how the economic rent of land has been privatized and captured by the wealthy few, even though it is created by the community and should be for the benefit of the community, which forces the masses into wage slavery and all of us into rent-seeking behavior. And he makes no mention of the importance of Becoming Your Own Banker and of taking control of the banking function in your life. And then there is the whole issue of monetary reform and alternatives to the current model of most money being created as interest-bearing debt by private banks. It would be great if he could do a video on the disruptive ideas, not just disruptive technologies, that could potentially solve the world's economic and financial problems.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
30:08 "There's no way of printing more bitcoin."
True… but they can sell as many cash-settled futures as degens can buy. And sell pressure is sell pressure.
Whether it's spot bitcoin holders selling real corn on Binance, or Wall Street degens gambling on the CME. The only silver lining is that after enough losing trades, Wall Street eventually runs out of dry powder.
Unless you're a GSIB, in which case you can tap the Fed any time you get into real trouble.
Which, thankfully, just leads to more currency debasement, meaning bitcoin will eventually win. But that process may take a long time to play out, and a lot of apes will get rekt in the meantime.
TLDR = 4:55