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How Much Do I Need To Retire? Why I Disagree With Fidelity. Think Twice When Planning For Retirement

Frames How Much Do I Need To Retire? Why I Disagree With Fidelity. Think Twice When Planning For Retirement

Description How Much Do I Need To Retire? Why I Disagree With Fidelity. Think Twice When Planning For Retirement

Comments How Much Do I Need To Retire? Why I Disagree With Fidelity. Think Twice When Planning For Retirement

❤️ THE "DO IT YOURSELF" RETIREMENT PLAN: Achieve Your Successful & Secure Retirement WITHOUT A Financial Advisor --> wwwdavezollercom/DIY-Retirement Comment from : Streamline Financial

One other thing… travel is expensive For me, I won’t be travelling much Waste of money Comment from : Douglas Thompson

Thank you You point out exactly our concern when retiring The Monte Carlo program has a built in flaw It’s what you point out Comment from : Mike Rapp

As others have said, every situation is different; there is no “once size fits all” Comment from : Mr MojoRisen87

Depends on current and projected spending Comment from : TC

Who is going to retire , in the midst of a Depression ? Comment from : Greg Mijjares

I retired at age 54 and the first thing I took care of was no debt and house mortgage paid off Comment from : Wayne Good

🙏 Comment from : Quang Le

A Friend told me Saving at least 15 of your income in a 401(k) can help ensure that you have enough money to retire comfortably is this a good way to potentially grow my retirement savings to about $3M over time? Comment from : Zahair OBrian

I was an investment advisor The advice in the video is excellent and true for the typical American But for people who have a good portfolio of about $5m, if you look around, most people are still active at 70 (I live in LA) but by 80, not so much, so enjoy yourself at some point before it’s too late That nice vacation will pay for your last week in the nursing home There is a difference between wasting money and spending it Be value-conscious Comment from : Antonio Bianh

I might be splitting hairs, but with the figure "how much do I need to save" - isn't it really "how much do I need to have accumulated"? Comment from : Phil F

So much comes down to your mindset Comment from : Mountain Shelby

I'm not a financial guy so I have a financial planner that does my investments for me It's a huge weight off my mind He mixes things up so there's a portion of money that can't go down, but can gain some, and instead of mutual funds, it's individual stocks that they can offset tax gains by selling to offset losses I'm 66 almost, own my house, I make 130 k and my wife makes about 10k I and would like to retire in the next year or two Our expenses are about 80k and we have about 15 million saved up plus the house which is worth about 700k The problem is we live in an expensive area in the northeast I would like to retire to a foreign country, eg Thailand / Vietnam, but my wife is definitely not on board, she likes it exactly where we are So I'm plugging away rn Still not sure when to retire It's not like I hate my job, but I wouldn't mind not putting in the long hours Comment from : jackbenimble999

Everybody's situation is different The example doesn't factor in as she gets older she will not spend as much This woman is more than secure Comment from : Cn Wil

Wow, thanks for breaking this all down Excellent! Comment from : Sir Madam

Great video 👍🏼brThe only people who are going to have a significant impact on their investment portfolio are those who view the recession of 2022 as the greatest chance to become wealthy It is crucial to distribute money out among channels that are prepared to do well in recession and later on Comment from : Paul Nolan

45 is way too low Comment from : DK

Not much but I do own 3 properties in Hawaii Comment from : Marcie Lynn

This is insightful, I lost my wife 5 years ago, being alone sucks I don't believe much in luck so I took my time to make proper use of the money we saved together and invest it appropriately I thought of leaving it in the bank, but I wasn't making any profits and I had to give up a lot to keep saving grace came after meeting an IA through a friend of my late wife, and he has assisted in bringing stability to my life Comment from : Gabriel Araujo

I am now 57, alone and retired now I have taken advantage of the stock market here and other financial assets which has been a good investment with minimal risk and a good ROI I can't advise you on what to do with your money, but this has been substantial for me Comment from : Peter Cerva

I think that for anyone who has saved for retirement, "how much do you need to retire" is the wrong question The right question is, "what will your lifestyle be when you retire?" While I may have greater healthcare costs in old age, that greater cost is not predictable What is predictable is that I'm not going to suddenly start spending more money in retirement than I spend now If you are worried about having enough to retire on, chances are you equate spending money with enjoying life Which may indicate a ipre-retirement/i spending problem Comment from : Cisium

You should be calculating annual expenses and not use pre retirement income Comment from : aikirunner

What if it earns a more realistic number like 1? Where is she going to earn 6 Comment from : Frank Schwartz

eMoney is one hell of a software If you're looking for an advisor who is going to help with your retirement plan, make sure their planning software is good eMoney (what he showed) is the best one I've seen and worked with Comment from : Korey

Great content in your channel, I’m 53 and my wife and I reached $1M net worth in 2017, five years later it’s $24M Our yearly salary is a little over $100K We drive older cars, cook at home, eat leftovers, and have 2 in college We saved for college and our boys help by working They will graduate debt free Comment from : Moncefito

Great content in your channel, I’m 53 and my wife and I reached $1M net worth in 2017, five years later it’s $24M Our yearly salary is a little over $100K We drive older cars, cook at home, eat leftovers, and have 2 in college We saved for college and our boys help by working They will graduate debt free Comment from : Ethan Michael l

I guess it’s no secret, you need a ton of money I have enough money to last me the rest of my life…provided I die at 4:00 pm Comment from : Nala

Anyone who is not investing now is missing a tremendous opportunity, Imagine investing $1000 and receiving $9,300 in less than a week indeed Becky's strategy is the best in the market Comment from : Williams Romero

Fantastic advice My financial advisor started out showing my money lasting until I was 93 also The truth is I am 67 and have copd So 93 isn't an option I don't believe I am out of debt and own my home So for sure getting out of debt was a huge benefit for me before I retired Thanks for sharing your thoughts with us! Comment from : guzzi95

Great topic and great content too !brYou’re pretty much right that each and everyone needs different retirement plans because there isn’t a defined formula to achieving success in life, and retirement isn’t left behind To me, retiring is one of the most easy thing to do just that people haven’t really realized that! Comment from : ISAAC WOOD

I could not afford to retire and stay in the US At 58 I was divorced, so I had to split my retirement with my ex-wife I was born in 1945 just at the end of the Silent Generation In 2003, I had worked for the Federal Reserve Bank for 30 years Because of a toxic work place, I had to retire to keep my sanity My only option was to retire to the Philippines on $348 a month It is very possible to do this It was dicey until I was 62 and got Social Security, after that I started living very well and still do Had I stayed in the States, I would have been homeless and on the streets But you cannot depend on checks coming in the mail I have many retirement checks I have not received I believe they were stolen and cashed with fake IDs The Fed will do nothing to help me in this regard because they show no checks unpaid The logistics of where I live make it nearly impossible to even send a letter to the Fed It takes two months for me to receive a letter from the States, the Fed will not entertain phone calls from retirees They do have a company go between that takes care of retiree needs but again due to logistics, security issues, Etc, If you get locked out of your account online, it is very difficult to get any help Even though the Fed calls itself the Federal Reserve Bank, it is not federal at all, but a commercial bank (private enterprise) Therefore, they do not direct deposit to any foreign country, unlike the federal government All I'm saying is, you do not have to stay in the US if you need to retire and cannot afford to stay in the States Just make sure you are 62 so that you can get Social Security direct deposited to a foreign bank A check in the mail may not work and will most likely get stolen, forged, and cashed without you or your bank knowing about it Comment from : The Silent Generation Romans 8:28

Retiring at 58 with $15 mil saved That will just have to work Comment from : M V

Why would you assume a 6 return when the S&P 500 has averaged 10 over the last 100 years 13 over the last 10 years? Not to mention that there are mutual funds that beat the S&P Of course not every year, but have averaged higher over the same period Comment from : Anthony Dooley

The best way to plan right for retirement is through the guidance of a financial coach or investment adviser, I stopped working since the pandemic and turned to spend most of my time on working on my passion for exquisite arts, working with an honest consultant is a blessing, putting my money in the right places, and 2years later, I'm currently living off my investments which brings in a return of about $520,000 annually Comment from : Lauren karan

Unwanted debt is not included in my retirement is the reason why I'm enjoying my retirement 😎 Comment from : Mapache Hombre

Every time there is a democrat congress, the amount of money you need to retire quadruples brEvery time there is a republican congress, the amount of money you need to retire doubles Comment from : Nathan Morgan

Retirement is simple Be debt free! If all you need is food clothing and shelter you don't need millions Comment from : David White

Covid has been an eye opener for what is import in life, and money is not that thing You just need enough to be happy Comment from : Drifting into Retirement

If you do not know how much you need to retire on believe me, you are not ready Keep working Comment from : NewHampshire LifeStyle

Plan - spend every dime I have a lot of work to do Comment from : IronSolid

Only thing you need is your health, invest in that, I also have 200k in savings and half my 50 k salary paid till I die, own my house n car Ground beef n Irish whiskey and a rusty set of dumb bells will take care of the rest 🇮🇪👍🏼 Comment from : Lineman 1961

Average lifespan for American males is 78 My personal retirement plan has a 30 year draw down, I intend to be broke at that age ✌️ Comment from : Andy Mageen

I could retire on 800k to 1 millionbrbr75k a year seems a bit much … but hey, if you have 10x I your salary you should be able to stretch it 10 years at the least Comment from : Thomas Reedy

Vanguard and your presentation don't include social security benefits, our combined benefit is $50 k per year which is $1,000,000 in the bank at 5 interest, and it's not affected by market So, planners need to use all the income numbers Comment from : Keninplano

93 not likely for most Comment from : Roger Lindahl

10X Net or Gross? Comment from : Call Sign KillerB2u

I’ve retired in the Philippines SS is $2,400 month Investments as of today are $750,000 Was $960,000 1/22 oh well Monthly rent in a very nice condo next to a great beach is $1,000 per month Life is good Comment from : John Taylor

A person spends and lives off of their Net income not Gross income Comment from : Tom Cop

Not really much info Before retirement big expenditures should be savings for retirement, and mortgage, but both these should be gone Comment from : Jeff Lloyd

Even based on the worse scenario shown she will outlive her assets I would not be too concerned with the woman Looks like Fidelity did a good job Comment from : Penultimate Name

“income” seems to be the wrong variable to discuss here - for example, a person making $100k and saving half of it has different lifestyle needs and expectations than someone making the same but saving 15 “spending” seems to be the right variable firstly, because working income is subject to higher taxes and is reduced by social security and retirement contributions, and secondly because retired people may have different expenses, eg a paid off house or one car vs two Comment from : kage

AFTER 60 STOCK TANKING YTD U TALK THIS??? Nobody can retire after 2022!!!! Comment from : Jason A

How long do you plan on living? Comment from : Tom Waznis

Interesting content as always, videos like this and insight from an expert goes a long way Comment from : Aaron Ponce

Interesting content as always, videos like this and insight from an expert really goes a long way Comment from : Adam Clio

The way the question is worded is kind of funny It should be "How much money do I need to retire?" "How much do I need to retire?" sounds more like the person is asking whether or not retirement is mandatory Comment from : David Sharp

For modest retirement, lower middle-class, 2 million For high middle-class 10 million Comment from : Travis

I’m 23 but I still want to learn Comment from : Brendans Esports

I'm planning to leave just enough to pay for my funeral and executor Also, when I'm in my 80s I don't plan to out painting the town red It's not one size fits all Comment from : C O

Don't need to save Don't need no plan It's called a pension brThe flow never stops Comment from : MikeTheYungGod

"More" Comment from : Nick Grosse

I work in academia I am in the STEM field I probably could have made more in industry But I choose academia when I had a chance and on of the main reasons is: Life time pension That's right I get pension as long as I live, even if I make it to 100 So yeah, I may be earning less than my math counterparts in industry but I don't have to deal with a scammy 401K I also put money every month in my ROTH and along with my retirement and being debt free (by that time when my mortgage is done), I ought to be financially comfortable And when I retire I put up my house for rent and I am moving to the tropics People under estimate the value of government jobs Comment from : Math is not for the faint of heart

The location you live in is critical Comment from : Gray Wind

If the last check you write doesn’t bounce, you did something wrong Comment from : Bob Drawbaugh

It literally makes me sick to my stomach at the thought of retiring at 67 I'm 36 and cannot see myself working a full-time job until I'm 67 I'll pay the fees and penalties to retire earlier I don't care I want to retire between 50-55 and have a paid off mortgage Comment from : Ch Stewart

You need a minimum of 1 million, if you want the same standard of living, I retired at 63 Comment from : Eddie Earl

Thanks for you opinion, but most of us don't have near a million dollars saved Comment from : Eric Runnels

hi Comment from : Brian Whitehawker

I still don't understand how ones expenses can drop in retirment That makes zero sence Ones expenses should go up in retirment Instead of going to work and making money one is going out and spending moneybrbrI would love for someone to explain to me how one can possibly spend less money after retiring Even if one just sits in there home doing absolutely nothing what so ever one will still spend more money because they will be running the A/C or heater more and use more electricity aka watch TV, play on the computer, play video games If one wants to go out and do stuff that costs money that would not be spent when one is working as they are at work doing their job Comment from : Donkeyearsa

Nose to the mill stone Whatever you got ain't enough Comment from : quartytypo

I don't see where you are counting her 36k a year from SS She would only need 40k from her retirement accounts Comment from : Brad Chaisson

This video is not for low income retirees Comment from : Stevie Gian

another factor that seems to be rarely factored in is mortality tables I'm a 50 year old male and there is a 10 chance that I will die between now and age 63 I am NOT going to be in the office if have the privilege of turning 63 That is for sure! Saving money in order to retire after you're dead LOL Think about that Comment from : Jgmatp

Your income is irrelevant to how much you need to retire What matters is your expensesbrbrTake two people, each making $100K/year after taxes One spends everything they make The other lives on 50K and saves the other 50K Do we really think they'll both need the same amount in retirement?brbrMost calculators use income rather than expenses because income is a much more likely to be known number but that doesn't make it the correct one to use Comment from : John Hnat

Love the Greenbelly bars Try their Mud Meals also if you get a chance Good stuff Comment from : Drew Boswell

I don’t want to DIE a millionaire If I leave my kids some money , great, plus they will sell my house for 400k I think that’s ok If nothing left in my Ira when I die that’s ok! Stop thinking about your kids unless your kids are paying for YOUR retirement I didn’t pay for my parents retirement Comment from : Eddie Novak

The thing is, everyone's retirement situation is different I retired five years ago at age 61 and only had $130K in my retirement portfolio, BUT I had made sure my home, vehicle, loans, credit cards and any other debts were paid in full before doing so I also left southern California and moved to a less expensive area of western WA state With no mortgage or other debt I live quite comfortably on $3K per month and am still able to sock a few hundred dollars away every month I don't take lavish vacations, I don't eat out very often, but I do still travel to destinations that are within 1,000 miles of me a couple of times a year I also shop thrift stores for about 60 of my clothing and hobbies (I like to knit) Where there's a will, there's a way Comment from : DeerHaven

Can you explain why I need more money at death than I do at retirement? A gradual reduction seems like exactly what I'm looking for Uncertainty means I need to be conservative but to plan for a goal that my account never diminishes seems to require working longer than necessary or living a reduced retirement lifestyle Thanks Comment from : Paul Hanel

25x your spending, net of taxes Comment from : Matthew Reedy

It seems like all the “save this amount by this age” are really front loaded If you’ve saved 3x by age 40, returns alone should double that by age 50 I realize the salary might go up some, but that’s not a challenging savings rate And after 50, return alone should easily take you from 6x to 10x at age 67 Comment from : D Forrest

Many people don’t reduce their spending because they still owe on a mortgage it have rent Also, what percentile of the US population earns 170K or more? Or has 17 million in retirement? You should do one of these examples where Amy is middle America making 60K per year, but has her mobile home paid off Comment from : T Ho

Rule of thumbs are a good start, but the devil is in the details There are many factors that you mention that can change the outcome BTW, if the portfolio value is low at 93, why is that bad? Enjoy retirement and spend most of it before you die! Comment from : DileepB

What planning / scenario software are you using in the video? Comment from : Ryan Gallagher

if she never runs out of money, what's the problem? Comment from : N Bryan

Depends were you live Hud 202 senior building rent is 30 of SS and Pension GREAT DEAL Comment from : Quickerticker

Retire at 67, that's 10 years wasted already Comment from : S2000Y

The variable not address is the age that ones parents , grandparents passed as this is the best predictor of duration of need Comment from : Bob Zelley

I agree I lost 25 of my investments in the last five months Probably ten years of retirement You really need to take into account inflation Comment from : Furry P

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