How Much Do You Need To Retire | What The Experts Say

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Title	:	How Much Do You Need To Retire \| What The Experts Say
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Robert Kiyosaki is a grifter not a financial expert Laughable
Comment from : @watermanplace6721

I agree wuthe Suzi Orman 2-3 years of kiving exspenses is a safyy net especialy if there is a recession during retirement
Comment from : @dianncotterell5531

We all get a lot of land and a choice work or education at 18 yrs old , plant on that lot along the way to later yrs , when the day comes to harvest we all eat what we planted Susie Orman was awesome !
Comment from : @fsm12385

Dave Ramsey has gone bankrupt, and makes his money by telling others how to make moneybrbrNo irony there Dave Ramsey isn’t dumb, but he’s no genius He’s just very good at marketing his brandbrbrSaving made nobody rich, didn’t make him rich, but you can pay him to tell you saving is the answer
Comment from : @nwj03a

Surprise I have not seen this video before Unfortunately Pete had a sad divorce and kinda became a hypocrite on some of his FIRE values He apparently made a lot of money on Mr Money Mustache blog from commissions from readers signing up for credit cards promoted on his blog Good for him but it's kinda weird monetizing credit card sign ups using a FIRE blog I guess that said, Dave Ramsey made a ton of cash on his show in the same way Maybe it is 'make a buck teaching someone to fish' sort of philosophy
Comment from : @lidarman2

What scares me about these videos is… if over 50 of the US population is living from paycheck to paycheck, how on earth are they going to have millions saved for retirement? brWhile these videos are informative it is so unattainable for many! Very sad…
Comment from : @ghggp1

There are other withdrawals besides 4 to live onbrFinancial Planner Fees: 05 to 15 of your portfolio that is paid monthly, quarterly, or annually brTaxes State & Federal are taken out monthly in my casebrSo actually you are withdrawing a larger amount to live, to manage and the taxes
Comment from : @tomfeie2733

Not a fan of Ramsey at all Sure, debt free is solid advice if not obvious But his off-air personality is so shallow and a 12 market rate is so out of whack
Comment from : @gregfisher545

Suze Orman says everyone should plan to work until 70 because her relatives lived until 97 or something Why do you need advice if you're going to work until you're old lol
Comment from : @gregj1241

Suze is spot on with her recommendations Take her advice but study the philosophy of Mr Money Mustache on simplifying your life and you’ll be golden
Comment from : @OShackHennessy

1:15 A wise woman once said: "Remember, finance is personal"
Comment from : @lukehanson5320

It's very difficult for people to know how much they will need for retirement because inflation is still out of control over 12
Comment from : @carefulconsumer8682

Best advice right there, do what's right for you
Comment from : @joethecomputerguy1

another one how much what???????? lol please help me
Comment from : @theertctaxman

Love from India ❤
Comment from : @sahilagrawal9799

3:15 Thanks for the note about the 12 / 8 being aggressive I have heard that 7 until retirement and 4 after retirement are usually safe numbers to work with (hopefully my sources are true) I try to leave some items out of our retirement planning (ie my wife's SS or part of my SS income) incase things are down, or Congress decides to use Social Security for more misc spending I also leave in the equation a couple extra years before I retire in case the market is in a slump (hence using 67 instead of 65 for my retirement age)
Comment from : @ron9665

To me these retirement withdrawal strategies make sense for two sets of people, those truly retiring early and not worrying about what they are getting from Social Security and Pensions and those whose retirement aligns with starting Social Security But people like my wife & I who want a blended approach with a before-SS era of retirement and an after-SS era, no constant withdrawal strategy makes sense We are likely to withdraw up to 10 of investments before SS and almost none of it after SS starts based on our current modeling in retirement software Do you have any videos or thoughts related to that approach?
Comment from : @jpstensland

You are so correct in advising diversifying your financial advice inputs All of these advisors have something good to say As for me, I took a rather standard approach I worked for fortune 500 companies, mostly We raised 3 children and paid for weddings and a lot of college education; however, we always paid ourselves first I mostly did this through 401k's and personal brokerage accounts It takes time to get traction and build a nest egg but after a while, you can see results I retired recently with a decent nest egg thanks to our diligence and our financial advisors We did not deprive ourselves of a lot of things We took vacations, had decent reliable cars, and had a great family No, we never went to Disney World, and we never let anyone make us feel bad about that We had great family vacations My kids thank me today We've learned that no amount of money can replace good health My wife has had ovarian cancer and has fully recovered That was our warnng and wake up call Our health is good so far, and we hope to enjoy many wonderful years of retirement, especially in the first 10 years We are able to stay below a 3 withdrawal rate, including some nice vacations We plan to spend on the things that make us happiest Life is pretty good My advice is also to save and start as early as you can Even if you only save a little There's no way to underestimate the power of time and money Never decline a company match of dollars Treat yourselves to fun stuff but don't go crazy Good Luck
Comment from : @maverick5059

if my pool is bigger than my tiny home, can I call that nirvana? or do I have to keep up with the jones's for life?, does pork n beans and ramen noodles make me an exentric?
Comment from : @charlies6546

I'm watching this at 31 Need to retire this decade 😂
Comment from : @donaldva

Sylvia Porter was the financial guru before Suzie Orman I am always amazed at the models these 'experts' present since the lionshare of adults have very little saved and pretty crushing debts Relying on SS alone would be grim This is a pretty basic conversation that never seems to happen in the real world
Comment from : @lizetteolsen3218

Retirement - How much do you need? How long are you going to live? How much income do you have? What is the inflation rate? How much debt do you carry? OK: I live far better than most people that have twice my income, everything is virtually paid for I carry no balance on credit cards and I buy cars in cash I own (4) paid-for rental houses and I leverage mortgage debt for profit and money is coming in faster than it is going out My "retirement" was not a happenstance, I planned for it and I make a Country Club home and continue to live below my means out of habit (I'm 71) If you manage your resources you can eventually live a king Over half of our income is disposable or fun money We can spend about $200 every day on entertainment if we so desire without touching our equity It is the 4th grade arithmetic Manage your resources, kids!
Comment from : @1Skeptik1

clickbait 14 mins of Nothing
Comment from : @unnamedagencyundisclosedlocati

Retired with a zero bank account On SSI now Living in Hawaii But I do own 3 properties outright
Comment from : @marcielynn4886

I retired comfortable at 38 I’m not a millionaire
Comment from : @bradleyvanzile1111

Nicely done Erin
Comment from : @supersubra421

Most, including me, would say an 8 withdrawel rate is unworkable
Comment from : @dpc727

Retired comfortable @38
Comment from : @bradleyvanzile1111

Most of us will die long before we run out of money
Comment from : @aikirunner

Suze Orman has some good ideas, but mostly what she suggests is crap, and she wants everyone working until they are 72 Really though, shame on you for holding her up as a financial expert, and if you REALLY know her story, you know why I say that
Comment from : @2012srp

From my observations, retirement is no different than the working years for the vast majority of retirees If you lived within your means for 40 years you likely will continue On the other hand if you struggled with your finances that will continue It's never about how much u make its how you spend it Just because you retire with a multi million dollar portfolio doesent mean you have financial freedom
Comment from : @JohnJohn-wr1jo

Retirement expectations are so much different now than even a few generations agobrOur grandfathers were content to work in their woodshop, maybe go fishing once or twice a week Our grandmothers would quilt and work in the garden They might volunteer at church or in the community brToday, we want to travel the world, own an RV, maybe a boat Expectations are totally different
Comment from : @alansach8437

Wow I don't really follow Dave Ramsey I'm super surprised by his advice Pay off debt makes some sense, but 8 withdrawal and tiny nest egg is literally going to ruin people's lives He's considered so conservative, but his retirement advice is like a tiktoker trading crypto
Comment from : @InfiniteQuest86

Rich Dad Poor Dad is a horrible book Buying dilipated house in bad neighborhood and spend time in fixing it without knowing whether you get a good tenants or selling it at preimum The author made money from selling the books, not properties
Comment from : @SidinPhilly

BY FAR the biggest financial mistake Western men make is getting married Not only will a married man not be able to save adequate for retirement, when his wife files for HER RETIREMENT, aka Divorce, the married man is the funding source for her pension NO ONE ever talks about this 🤷‍♀️
Comment from : @andre1987eph

8 safe withdrawal rate is CRAZY DUMB DUMB 27 is safe withdrawal rate Susie Orman is correct most people do early retirement based on emotions, and later regret when they run out of money
Comment from : @andre1987eph

Unpopular opinion:brInstead of trying to retire, try to find life fulfilment that generates incomebrThats what I intend on doing So I will never, ever, 'retire'
Comment from : @link2299

I am a Personal (read Life) Coach and I have recommended your Channel to many of my clients since I found you in the middle of last year I am always impressed by your discussions and I love the fact that you do such extensive research instead of just sharing opinions Your humility combined with your transparency and your commitment to studying the topics is very much appreciated I have studied personal finance and investing for over 40 years and I still learn something from each of your broadcasts
Comment from : @DavidLadd-mb4lf

All of the methods for retirement are very simplistic Required retirement savings depends greatly on your income sources for retirement For example if you have a good pension, that and social security will generally provide you with enough money for retirement and you don't actually need any savings, particularly if you have zero debt when you retire All of the advice you presented assumed that the only retirement income source would be savings That is nutsbrbrMy advice for having a comfortable retirement is pretty simple Pay off all debt That will allow you to live a very comfortable life on a relatively small income In my case my pension and social security provide more income than I spend That said, as I age I am decreasing my expenditures for example, I sold one of my yachts in 2022 (not for money reasons, but because I don't have the energy for two yachts any more)
Comment from : @todddunn945

Good point from Suzie about having an emergency fund to draw from in retirement during bear markets Filed in brain for future reference
Comment from : @RandomJane104

Your young 12 Really? Make sure your home is paid for before you hit 55 Starting on day 1 Max out your 401-k Both of you When your kids turn 18 Show them the door Let them pay for college Do not ever cosign a loan for anyone Ever Never put your kids on your car insurance If you live in a state that has high property taxes Move We did We both retired at 55 At 62 we both started SS I receive $214300 My wife is a little less We do just fine I never touch my retirement accounts Every 4 weeks we start over SS I love it Live within your means You must max out your 401-k And learn to live that way Have fun And stop paying for your lazy kids You come first They will be fine
Comment from : @peternorthrup6274

Tate says 25mil
Comment from : @Joel-pg4yi

instead of retire early, why not find something you enjoy working at that's what I did retired very comfortably at 67
Comment from : @islamabaddude

I mixed and matched I paid myself first starting at an early age I kept my debt low only going into debt for a modest house and modest cars No credit card debt I lived below my means and enjoyed that life I kept a 6 month emergency fund However, I didn’t have children and was lucky enough to not have any financial setbacks in my life and I was never unemployed Two other factors allowed me to retire at 55 years old - a professional engineering career with a generous pension (plus Social Security now) and I moved to Thailand, a low cost of living country
Comment from : @martypoll

Fire movement misses one key element Health insurance
Comment from : @SSS-wo2hn

How much money do you think you need for a single 17-year-old to retire oh he's a minimalist too so I don't think he would have a hard time saving money and living a simple life
Comment from : @marcocisneros8966

Where do these so called professionals think people are retiring? We need to start focusing on where people are retiring NOT the dollar amount I sure as hell won't be spending most of my retirement in the US Take my money!!! Healthcare system and make me broke What a joke
Comment from : @scsu300

Start savings with your first paycheck Invest in stock index mutual funds
Comment from : @johnd9031

Suze Orman is correct that people ought to think about 5 or 6
Comment from : @dstorm7752

Suzie is oblivious
Comment from : @chrischoir3594

Daves' 12 number is not going to work with this current inflation and the liberal LaLa land agenda You would need to make 20 in the market every year at this point
Comment from : @chrischoir3594

SS Q I never get the same answer form this Q I will retire next year with 39 years for the Gov I will retire under the 30 years MRA 565 I will receive Full pension, TSP and social security supplement So, Will my 39 years count for Social Security at age 62? or do to not working for the next 5 years add a 0 for those years and just count the last 35 years from 62 back? From one retirement class no worries you have 35 plus years The other said NO! it says if you work till 62 Very confused on this So if I wanted to wait and get a bigger Social security pay out and waited till 67 or 70 , that would be 11 years gone for 67 and 14 years for 70 A huge penalty just for starting my career at 17 years old Please help on this Its getting frustrated to think I will need to work till I have either 44 or47 years to retire when more people retire with 30 years Mike V
Comment from : @mikedv39

Wow! Terrific video - very thought-provoking Thank you
Comment from : @mikemustang5488

I actually went to one of Ramsey’s seminars and left a bit underwhelmed Simply saying don’t have debt is equivalent to a doctor telling you to just get better It doesn’t work like that I also completely agree that his withdrawal math is especially dangerous brYou did clarify some things I thought about Orman, but her hocking of a completely useless cash backed “credit card” to build one’s credit rating really turned me off My retirement is 1-3 years away and I already have 10x my annual salary in my retirement plan Everyone just make sure to never underestimate the insane cost of healthcare in the United States
Comment from : @genxskeptic5816

Thanks for the video
Comment from : @marshallhosel1247

2 years of retirement EF is fair right? Just in case the market tanks?
Comment from : @Imran-Lalani

I think the safe with-drawl rate is 4 Average net worth should be between $ 1 and 2 million at a minimum
Comment from : @Bluponi

Very good, thank you
Comment from : @annetteseiler4110

About Dave Ramsey talking of higher returns than SP500 This is a very common misconception about the stock market People keep saying things like "the SP500 has averaged x, so the stock market averages x" This is very narrow minded view of the stock market Dave clearly points to where he gets his returns: he doesn't put his money to SP500, he puts it to smaller companies, to growth companies It is very well known that smaller companies get better average returns than large companies (SP500 is literally the 500 largest of US companies, you can easily get better results if you go smaller - though usually with more volatility) brAlso, one can look outside the US There are lots of economies that are growing a lot faster than SP500, such as Vietnam etc There you have averaged 20 annually for years The index funds are good for keeping the costs down, but you may want to research what markets you want to mirror The largest companies of the US stock market are the easy safe bet, but it is not the only one available and not the best returns of all available options brBut I enjoyed the video very much, cheers!
Comment from : @JTStream

Engaging the services of a professional stock broker in your trades is the best way to begin As a beginner I made my first big millions in the stock market with no prior experience, I was introduced to an Expert broker/Financial advisor who assisted me in achieving so much Her name is Suzanne Stephens Ellis, I recommend her to beginners for all types of investment, including retirements Please avoid running losses investing on your own by yourself
Comment from : @allencmurphy3235

Meanwhile we live in a country where a large percentage of the population lives paycheck to paycheck saving little to nothing There is a huge disconnect here between those folks and those in the upper 20 of the economy
Comment from : @edwardpate6128

Save like you are going to retire early- someday it may not be your choice
Comment from : @richmarleau1031

The best and quickest way to make a lot of money is to get me Erin's phone number
Comment from : @effaygigioty3164

Everybody is differentyou have a state pension no mortgage ? Private pensionbrAs you get old old you spend less because you do less
Comment from : @ianlewis2813

Remember the more you invest ( or save ) the more money they make
Comment from : @ianlewis2813

You need at least $150 million tax free cash to retirement comfortably! Lots of overhead for your private jet, 25,000 sq ft mansion and 100 feet yacht!
Comment from : @HW2800

It all depends on what your monthly nut is If you are debt free and your monthly nut is next to nothing, you can live pretty happy on next to nothing What if you move to a country where your monthly nut is far less than it would be in the God awefull expensive US? Just saying there are lots of options
Comment from : @johnbruenn8755

This has probably been pointed out already But the math formulas are incorrect The formula for withdrawal is savings x 004, not savings / 004
Comment from : @larryeaton4263

Notsure where Dave is getting 12 return…doesnt seem possible these days
Comment from : @jodysnider9544

Wow- I never heard that about having that large of an emergency fund in retirement Great idea if the market drops
Comment from : @timothyisles7176

Dave Ramsey is a clown 12 percent return after retirement? Hilarious
Comment from : @kevinseversonandhisvizslas8287

You can still catch Suzi occasionally on PBS specials I have found, has changed a lot of what she has recommended over the years
Comment from : @buffycat4641

If you pull 8 a year you are definitely going run out of money I think 3-4 withdrawal rate
Comment from : @cybercab

I retired 6 years ago and my wife retired 4 years ago So far we have not touched our retirement savings Here's the question At this rate how long will our money last? Seems like a silly question does it not? In reality there is no right answer for everyone There are too many variables Everybody's situation is different You don't need an "expert" to answer this question All you need a a calculator, a crystal ball and a fundamental understanding of grade school math This is one of those times when a college degree is no help
Comment from : @bernie9728

why does it look like you filmed this with a potato
Comment from : @agustino42491

Erin, you marketing scamsters like Susie and Dave, the only success they have is selling “advice” through fear, promoting these clowns shameful
Comment from : @BRunner12

Nice review, well presented
Comment from : @lancethompson6839

I’m struggling to balance my retirement savings, student loan pay off, and saving for a down payment for a house I’m saving a big of my income so I can’t be completely doing it wrong, just trying to find a balance is hard
Comment from : @tpespos

Very confusing Need to define "savings", is it putting money in the bank, or in a 401K, or buying stock? how about all three Combine them all, is this your "savings"? Also, no mention of the pension you might get for working 30+ years or social security, both could be significant If you only have "savings" to provide income when retired, you better wait!
Comment from : @colsphere

Not a huge fan of Suze Orman She states people should wait until at least 70 years old to retire Could not disagree more Retirement is a number not an age
Comment from : @danielnelson2820

Have you done your research on Suze Orman? She's a con Artist Not an expert but a bullshit artist She's phony all over
Comment from : @joshlowell3075

Suze Orman is a verified scammer 🤦
Comment from : @JT0007

Ramsey getting 12 on your savings GOOD LUCK!!! I’ve been pretty aggressive the last 10 years and my 15 year average is more like 8 I’m shooting for 5
Comment from : @terrykrall

Why on earth would these “experts” even mention some fire retire class? br013 can retire in 20s? That’s called inheriting daddy’s corporation
Comment from : @lcee6592

There is a simple thing I hope everyone is doing - which is having accurate numbers every month for income, spending and saving (and observing the trend, taking preventive/corrective action etc) aka checkbook balancing Otherwise the idea of what is the expected spending or withdrawal is an exercise in imagination The viewers of this channel are financially super smart - but I just put this out there just in case …
Comment from : @anindyabagchi6119

Dave Ramsey and Suzy, are to conservative for me Working to over 70 years old is not for me I believe dividends are great way have money in retirement People need to be educated and do what they feel comfortable with
Comment from : @johnl4235

Thanks!
Comment from : @PJ-mb3ue

Suze Ormand is a crook
Comment from : @clarkewi

Awesome
Comment from : @clarkewi

Good stuff Erin! Beware of celebrity experts Ramsey really isn’t a retirement planner Suze advocates bucket system which is wise
Comment from : @jayholiday256

if you are in the FIRE movement, that would mean you wouldn't have put many years into social security and it wouldn't be a big help when you do reach 62 Given that, a less dramatic but still early retirement age of 50, having put into soc sec for 30 years seems like a nice balance
Comment from : @jimclark5037