How Much Do You Need to Retire?

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Title	:	How Much Do You Need to Retire?
Lasting	:	13.52
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Views	:	180 rb

Happy Friday everyone! The first 1,000 people to use this link will get a 1 month free trial of Skillshare: sklsh/theplainbagel12211
Comment from : The Plain Bagel

EXTREMELY DIFICULT retirement calculator And there are so MANY OUT THERE THAT ARE SO MUCH BETTER Damn man, couldn't you link to bankrate or something similar
Comment from : Borselino Thadchack

It's recommended to save at least 15 of your income in a 401k You can use online calculators to estimate how much you should save based on your age and income Saving at least 15 of your income in a 401(k) can help ensure that you have enough money to retire comfortably By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time don't think I could retire with less than $3m in income generating investments and i'm not talking 401k, maybe $2m at the very minimum I plan to work until I'm at least 45
Comment from : thelastunicorn1987

Depending on where you out the stress in the sentence, the video's title could have very different connotations
Comment from : Brian Yule

70 😅😅
Comment from : Andrew Wilkinson

As long as I save 100 of my gross income for the rest of my working life, I should be fine!
Comment from : chrisbtoo

I just realized that Richard is predicting he'll have a mustache at age 45
Comment from : OddTJ

well at leats you have some passive income and living way below your means
Comment from : PCTR

Unfortunately you and numerous others always gloss over #3 which is how much you need in annual retirement income It's a hard number to figure and often people watching this stuff are trying to figure it out as it is a base number that factors critically into all other calculations But sites/videos just gloss over it and mention the 4/25x rule while not actually talking about real world examples/studies that illustrated actual retirement income req'd Getting a decent thumbsuck estimate of req'd annual retirement income is that absolute hardest part And guidance on how to go about that is slim to none Understandably because it is variable However it's not as though we don't have generations of people we can poll to provide a better estimate
Comment from : Gordon Scott

Can’t wait until I retire in 2060 and president Charlie Kirk passes a law that every time you go to the hospital it costs $200,000 No, it doesn’t matter if they do anything to help you or not
Comment from : Zizka Zenit

LMAO, saying to adjust for 20 yearly inflation in 2022 😂😂
Comment from : Markus Banda

Real title: "how much do you need to accept death?"
Comment from : it IS unethical to treat near-pure evil patients

There's a reason why life expectancy retirement assumptions are higher than the average age: Average life expectancy is most commonly references the average life expectancy at birth This is not the same as the average life expectancy given that someone reaches retirement age, which is much higher Applying the average life expectancy at birth to retirees would lead to grossly underfunded retirements for most people
Comment from : jz4461

I would say between 15m to 2m after taxes
Comment from : Jay

More than 7
Comment from : Lenahan Conor

Something I have rarely seen discussed in the reduced income needs is the reduction in taxes and retirement contributions In the USA, my salary is reduced by 78 for Social Security and Medicare I won't pay those (or they will be a lot less) if I don't earn a salary in retirement I also won't contribute to a 401k or IRAAll told, the 120K income example should be reduced by at least 10 right from the start, before including other income sources, likely reduced housing expenses, and costs of supporting children It should be easy to get to 75
Comment from : Peter Moore

I understand that the goal here is to present a a very high-level overview, but linking desired post-retirement income to income is fallacious It should be linked to spending, which is not that hard to estimate with data most people watching this channel have even without tracking it directly (income - taxes - savings) Someone with $100K in post-tax income saving $50K per year does not need a bigger nest egg to retire than someone with $60 in post-tax income saving $10K per year They'll just need less time to get to the same number
Comment from : pryoslice

I have a reality check for everyone: if you don't have a company-matched pension you will never have enough money Inflation and market fluctuations and general greed will erase everything eventually
Comment from : Shawn Mueller

good
Comment from : Md Palash

I need to retire very much
Comment from : Bradford Richards

damn he really said 2 inflation 😭
Comment from : 87 Seconds

Good video! However, please turn down the music in the future Also, this video left out how to achieve retirement financial goals which is the hard part In my opinion, the online calculators are nice but there is no substitute for entering all this data in a spreadsheet to calculate savings year by year and arrive at a more realistic figure at the time of retirement How much do I need to save every month to achieve $17 mill in retirement? That's the question that matters most
Comment from : Supernova

Most of you will never retire because the government steals 80 of your wealth through taxes & inflation Keep voting democrats and socialists morons -- give your money away to the government and stay poor!
Comment from : gamingbtc

Not trying to FUDbut 2 inflation is a real assumption?!?! Just found your channel btw:)
Comment from : Black2Burn

Where is inflation 2?
Comment from : Diamond Dave

Great video, however shouldn't it be that you need 70-80 of your pre-retirement EXPENSES, not pre-retirement INCOME? Using income completely ignores the fact that people have different spending / savings habits and assumes everyone spends their entire income
Comment from : Frozen Sentinel

Glad to know what I should do, although, I’m pretty sure climate change will end us by the time I would retire Guess I should still prepare in case that doesn’t happen though
Comment from : Joseph Kern

Interesting there was i expecting him to talk about shifting your stocks to an annuity Is this something people do in North America?
Comment from : L W

HNRC is ready to go It will triple by April MRVL has a long way to go Both winners
Comment from : jtm0071

A guest on The Wall Street Journal Report spoke 3 months ago about making over $631,000 in 4months with a capital of $100,000, which made me realize that as a beginner I have a-lot to learn, I watched an interview on CNBC where the anchor kept mentioning “…KATE WELLER… This prompted me to get in touch with her, and invested $56k since October 2021 till now we have been working together, and currently rounding up the year with $540k in my trading portfolio
Comment from : Susan Gore

This guy would Percy off his family to the Ministry first chance he got wouldn't he?
Comment from : Christopher Ross

Something positive: I love learning from you Something negative: (or at least playfully attacking your persona) you look like the cartoon character of the guy who gives tickets to students running on the patio or corridors
Comment from : Mark G

Hey could you expain CDR's (Canadian depository receipts)? They are now offering a few american listed companies on the NEO exchange in Canada It would be great to hear your opinion on those Thanks for all the great content!
Comment from : Aaron Cohen

A flight to Switzerland and euthanasia treatment only costs about £6,000 I've already met my retirement goals
Comment from : Daniel

Bottom line no matter what you've saved it's not enough I'm just trying to save enough so that I can live without starving when I can't work any more
Comment from : Scotty

Man, if you count on making 120K at the age of 65, why retire at all? Unless you are fired and can't get another 120K job
Comment from : NickStarr210

this is nothing compared to my master plan: living off of my children
Comment from : Javier Nunez

first 4 minutes is nothing but saying the same thing over and over- and wasting your time for his metric hope it will get better
Comment from : Dan F

Hi BagelbrCould you make a video on covered call ETF's like global x $QYLD I've been reading that the 12 pa yeild is not that good after all, because of the limited upside But the whole thing is a little complicated i feel brHave a good 2022
Comment from : nicolai

My FI / FU number is 25 mil
Comment from : John Smith

Retire? How long do you expect to live? Note: I'm 70 and 1/4 of my classmates are gone, several never made it to 65
Comment from : 1Skeptik1

Yea my parents strategy was to have lots of kids to take care of them
Comment from : Alex G

Hi, I’m a student from Babson College and I was wondering if you could answer a question I had Should I use the Piotroski F-score to determine what stocks to buy? I’ve recently read that it’s not a good idea, but it makes sense sometimes When should I use it or when should I not use it? Also your content is really good, keep up the good work! 👍
Comment from : Jose Fuentes

Beautiful video I have studied retirement planning extensively and approve :)
Comment from : Shadoninja

67 as an age of retirement? Life is way too short for that Life expectancies are dropping quickly in the US How many years of quality life are you gonna have if you retire at 67? Any? Furthermore, inflation is going through the roof, and the pressing need to face significant existential challenges in the coming century, such as climate change and resource scarcity, will surely increase tax burden for coming generations Social security? Probably gone in a few decades Basically what I'm saying is, don't expect this problem to solve itself on it's own I think we should all be extremely proactive about trying to retire ASAP, otherwise we will likely retire when we're dead
Comment from : Outshinedsg

Please make a video about Hashgraph techonology
Comment from : Daniel Bloom

I think your calculations focus too much on current salary and not spending rate
Comment from : The Doppler Effect

@7:08, why isn't the real return simply 45 minus 2, or 25? I've never seen that formula before (edit : nvm - I did a bit of googling, the equation is known as the Fisher Relation and it's a slightly more accurate version of the rule-of-thumb that I'm used to) Thanks, very educational !
Comment from : Chris F

I am 38 and I can't tell you how much I wish I started earlier Now I am playing catch up rapidly Doing the FIRE movement, making over 100k a year but living like a broke college student on a bare bones rock bottom budget It really works well and investing in good ETF stocks maxing out TFSA (If you're Canadian) is the way to go Working from home the last 2 years has saved me a ton of money I feel these last 2 years have made up more than a decade of doing nothing I regret it but now I want to retire asapbrbrTo all you younger ones out there: Start asap, you will be happy you did in years time
Comment from : Darkened-Donkey

A pension 😂😂😂😂😂
Comment from : Bill Vigus

So how much ?
Comment from : Tom Gold

In this economy? 58 rounds of 12ga 00 buck and a cool mad max car
Comment from : Kevin ONeal

This is a good wake-up call for young people to start early Thanks Richard ♥️
Comment from : Earthling

Great video bagel 🥯 as always You forgot to account for retirement age will increase to 70 for the 30 year old example you gave not sure what it’s like in US, in Uk retirement age use to be 65, now it’s 67 I’m 35 this year more likely to increased 70 for my generation
Comment from : SuperSexySteve

Covid is rewriting the rules on finances Take everything you knew before February 2020 and throw it out of the window When central banks are printing money to infinity, every rule is broken and future is unknown
Comment from : Sigma Male

My headphones are on my bed and they're just out of reach I can almost hear what you're saying thoughbrbrCan you make the next video louder please
Comment from : Alpha Bet

The biggest problem for me to calculate is not how mutch I will have but how mutch I will spend in retirement
Comment from : Donkeyearsa

Lol f my life I have like 3 dollars a month for retirement working 60 hours a week & theyre saying pensions are gonna collapse🔫
Comment from : TheComicChild

so your telling im going to work till i die
Comment from : Mickyd Rake

I’ve always wondered about this, can you do a 5 min history video on why stagflation happened??
Comment from : HistoricallyAccurate

why would u ever want to retire?
Comment from : There Are No Shortcuts

1 Forecast medical expensesbrbrAnd it's gone
Comment from : Contour Nut

$5 million
Comment from : ling lee

Plain Bagel talking about being able to retire What a kidder Next he'll be saying we can buy a house at some point in our life
Comment from : perochialjoe

450000 $
Comment from : 123koby

Ill probably just kill myself after 40 years
Comment from : Miguel Angel

Two million dollars is the goal to stop working For good
Comment from : Nooova

Hi Richard Firstly, I love your channel Quality information from someone with a passion for their subject Thank you for all you time and work My Question Can you do a video about yourself? I would be interested to see your background, education, work history, struggles of the CFA (which I'm debating on going through after my PhD) Thoughts?
Comment from : Tyler

Man, your videos are great Have you already heard about the launch of Block2Play? They say it's the breakthrough of the year
Comment from : Dan Wilson

I suspect large unexpected increase human lifespan and the changing of inflation targeting will be the biggest factors to throw off retirement calculators
Comment from : Ming Tang

These numbers often don’t seem relevant to me For eg I sink every spare dollar onto my mortgage As a result, my ‘lifestyle’ is extremely modest When the mortgage is cleared in a couple of years, should I assume I’ll start blowing my money and thus need to save more for retirement to maintain my new habit ? Or should I assume I’ll continue living as is my current habit and thus scale down my target for retirement?
Comment from : DeadDancers

Benjamin Franklin never retiredhe worked into his 80's I want to work until I can't
Comment from : jmsloss

A retirement income seems daunting, but it is always better to have the information than not at all When I first started to contemplate this at 23, I was floored by the amount But little by little, you do get somewhere Now at 29, I have made strides towards it and can see how little by little starts to add up Let's do this!
Comment from : All The Artsy

The music is very distracting and makes it hard to concentrate on the words
Comment from : Montgomery Hatch

brilliant video! this is by far one of the best and informative ones on giving a best scenario that i've seen
Comment from : James Taylor

One of the big numbers from my budget I always forget to subtract when calculating my monthly retirement needs is my current savings That is a huge part of my current budget but it won’t factor in at all in retirement
Comment from : Adam K

Would you consider making a video on different options investors can chose to do with there dividends and there implications For example if an investor plans on reinvesting dividends should they do them the second they receive the distribution or should they use dividends to rebalance there portfolio Maybe you could also talk about total return etfs and if maybe there a better option I feel like this could be a cool video because something I was asking myself a lot when I started investing was what should I do with the dividends I was receiving
Comment from : Nick Corcoran

I'm disappointed that even after 2 years, you know nothing about me 😟
Comment from : Yellow Fellow

The Fed will steal everyone's retirement through inflation It's already happening
Comment from : Medic311

I'm just gonna comment on this background it's fire! Can I ask what it is? Just 2 different color back light?
Comment from : Fishlover

Best finance channel on YouTube and it’s not even close
Comment from : Mel Soderlund

what the fuck do you do to need 45k a year to live? stop being so consumeristic and move out of your overpriced cities
Comment from : Nasim Aghdam did nothing wrong

a couple of bitcoins
Comment from : Dastrio

Government subsidies? Taxpayer subsidies
Comment from : Pseudo Nym

Well that was depressing
Comment from : C B

Mr Bagel, are you assuming your paycheck will increase 2 with inflation every year for 35 years? that's very naive, stop confusing people
Comment from : jpalm23

When I consider how diligent, smart and lucky someone has to be, so that they can actually acquire a nest egg of 1,2M USD, I immediately think about a mass of people who won’t be able to do so Which means some people are bound to have terrible retirement yearsbrA Universal Basic Income that increases with age would greatly simplify all these for a large majority of people Hope we’ll live to see the day
Comment from : jellovendigar

Never enough when you need them
Comment from : XX X

Hey man I have a friend who is heavily invested in amc and is spouting all sorts of garbage that he hears on Reddit/YouTube Can you do a video explaining the situation, risk etc? I think there are a lot of young investors that could do with a reality check and fair warning of the risks
Comment from : J

Does your company do financial planning for anyone? I'm a disabled Canadian, with a RDSP, and is looking for a reasonably priced CFP who specializes in disabled issues ie, maximizing social benefits I live outside Toronto, so let me know if your firm can help or could please refer me to someone who can Thank you for all the great videos I wish you would give more specific recommendations to buy/sell/hold, but I understand your employer might not be happy with that Hopefully, this channel can grow to the point that you can make your own decisions
Comment from : Ryan Maharaj

Hello! Did you see you made a very brief appearance (at least sound wise!) in one of the latest PlayingFTSE podcasts??brbr youtube/zJvbfNKnabIbrbr21 minutes in roughly
Comment from : Codf Mcdodf