Title | : | Average Retirement Savings By Age - How Much Should You Have Saved by 55 60 65 ? |
Lasting | : | 7.38 |
Date of publication | : | |
Views | : | 37 rb |
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Super helpful Thank you Comment from : Dorina Tudisco |
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Consider this I retired 7 years ago at age 62 My wife retired 5 years ago, also at age 62 To date we have not used any of our retirement money We are having no issues living on nothing more than our Social Security Being debt free when we retired is what makes that possible It's not magic, it's just math Comment from : Bernie |
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Very helpful video Thanks What is the name of the software that is user-friendly (for non-financial advisors) for retirement planning? Comment from : Francois |
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I am 54 and I’ve been retire forr 16 years and never looked at how much money I have saved just live day to day I think some of these retirement sites over exaggerate Comment from : Bradley VanZile |
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Early growth for plants is approximately exponential The larger a young plant is, the more mass it gains per day Same with compound interest Comment from : phil marsh |
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Great video! Diversifying your portfolio with gold can be a solid option as well Comment from : Gold Retirement Solutions |
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Why does the multiplier go up the older you are?? Comment from : Ed M |
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Thanks bud for keepin us financially Educated!brRegardless of how bad it gets on the economy Comment from : Bradley Schaeffer |
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64 with 530k in funds I owe 140k on my home Comment from : For The Love of The Shave |
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Another great video Thank you Dave 14 months and counting! Comment from : JP Turner |
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I’m guessing the multiples are based on the assumption of no pension, which might significantly reduce what’s needed in retirement savings??? Comment from : Christopher Whyte |
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Really the multiplier should be less as you go up Comment from : Kevin Kuc |
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Dave, I went online and filled in my required info for the DYI retirement calculator, and have been waiting over 6 hours for the email to confirm my email so i can get access And yes I have checked my Spam folder This is the second or third time I've done this, and i never get an email from you asking for confirmation Am I doing something wrong, or is there something I can do to verify my email so I can get access to the DYI retirement calculator? Thank you in advance Comment from : Charles Clark |
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Income? It's expenses that matters (and expenses after social security is even more important) Comment from : john gill |
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Sounds ridiculous to me Idk anyone with that kind of money saved I have a pension, Social security and TSP I believe I will be fine Of course T rowe price wants you to invest more, that's how they make their money Comment from : Joe and Vhie |
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How about the age at 40 and 45 Comment from : Suling Otto |
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A large number of surveys show that 25 or more percent of those over 55 have NOTHING saved for retirement We are heading for that to reach a critical mass Comment from : Edward Pate |
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I don't understand this graph at the end of your video Must be the way I am interpreting it but why wouldn't you need a much higher multiple at 55 at retirement as opposed to ages 60 and 65 because retiring earlier at 55 means you have to fund many more years of retirement Hence a lot more money needs to be saved by that age These funds saved will be required to last a lot longer in retirement Comment from : Rick |
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awesome video thank you! while I seem to be ok with 10 years away for retirement, who knows what can happen in 10 years And that fear of being an old homeless man is still in the back of my mind So I still need to save like it's going out of style Comment from : BlackBeard Papa |
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Where is the SINGLE PERSON example? You are leaving a lot of people out!! Comment from : Craig Smith |
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You can probably get by on 1 million if you have no mortgage and live in a rural area Comment from : Jay Johnson |
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So annoying that a large organisation like T Rowe Price would not show for Singles also -there are plenty of us out there! Thanks for the info that you share, Dave! Comment from : Patricia Moore |
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I disagree with this analysis I think the multiples should be reversed with a higher multiple on lower current income Obviously, someone in a lower tax bracket will likely have a lower social security benefit, and most of their savings will go toward essential expenses in retirement For someone in a higher current tax bracket, they will more easily meet their essential expenses in retirement and have more discretionary funds Comment from : John C |
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I love this stuff but not sure many will have this much saved at 55 But for me personally is great Comment from : Wdeemar Wdeemar |
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fortunately I have no debt, a great federal pension, don't need my IRA/TSP, not taking SS until FRA Comment from : larriveeman |
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Great information! Thanks for creating this video Comment from : Beerbrewer737 |
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