Видео

So if I hit $1M in NW at 34, I'm on track to hit $100M when I'm old. See you at the bar at the assisted living facility Erin. First rounds on me 😂

Buy and hold strategy is good for long term use assets also. Buy quality once and get use out of it for decades. 20s are (hopefully) when you are going out on your own and have to acquire your own big ticket use assets that you will be using through your 30s and beyond 🤞

Watching from Minnesota.

i used to be a dividend investor My wife and I have invested in the s&p500, both through my TSP with the government, and through Fidelity in her 401-k.Cashed out 450k from the S&P and invested with a FA . Until around 3 years ago we were 100% in the s&p after over 20 years.I'm retiring at the end of this month at 59, while my wife will retire next year at 55. We currently have 4.3 million in our tax deferred savings and still with investments in individual companies.

What type of account are you guys compounding the first 100k?

Roths are great if you have 'earned' income and can wait to access gains until you're freaking 60. Been retired a while with years and years to go. Whoopee!

Do recommend a Financial Planner for at least a 500K portfolio. If so, what % of AUM do you feel is enough for investment and tax strategies?

Inflation is such an irritating factor in retirement planning. You work hard your entire life and then most of your losses in buying power come from an entirely meaningless phenomenon that serves no purpose and is out of your control.

4:13 Love that Fidelity recommended savings chart .. tells me I need a LOWER paying job to retire sooner. If I get a $25/yr Walmart job at age 67, I only need $250K saved for retirement.

It's encouraging to know that wealth accumulation becomes a little easier when you get older. It can sometimes feel like you're not making any progress when you're in your twenties and even thirties.

I would say that home ownership has everything to do with home ownership. Every month you pay on your mortgage, you don't pay yourself, regardless of how below your means you live. My wife and I are so below our means (and we still have a mortgage) that we could potentially fit into Erin's equation, but we will never be able to really be financially independent until we have our home paid off and begin to snowball our asset growth.

SA WILL BE BACK SOON VERY SOON//SA NEEDS USA PROTECTION

Great video as always. I just have an off-topic experience to share. I was just on reddit discussing how to max your chances to earn currencies and rewards in video games, and set off TONS of emotional reactions from people who (a) don't know how probability works, (b) don't care how it works, and/or (c) think along the lines of "we'll all lose anyway." That made me sad because if that happens in a video game, imagine what those people think about investing in the stock market, a field which requires great understanding of probability if there ever was one. The thinking of those people will prevent them from ever achieving financial freedom and retiring, and that makes me sad.

I just told my prospective financial advisor this morning: "$1M is my goal."

THERE WAS NEVER SUCH AGREEMENT! THERE WAS A DOCUMENT SIGNED IN 1974 BUT THERE WAS NO LANGUAGE AT ALL TO SUPPORT THINGS YOU'RE SAYING IN THIS VIDEO. PLEASE DO YOUR RESEARCH AND CORRECT THIS.

I am a 54-year old burnt-out engineer with $400K in declining investments, planning retirement soon. Seeking best stock strategies for market downturns and hyperinflation.

This is what using the veto as a weapon to continue doing genocide gets you.

If you want to live lavishly, I am thinking 10M$. LOL!

This is 100% fake news and you need to do your own research and stop repeating the garbage the media reports. Saudi has always taken payments in other viable currencies including Pounds, Franc, etc. There never was an agreement with the Americans to sell oil only in dollars. If you think the Saudis are dropping the US Dollar in favor of Euros, Rubbles, RMB or whatever, you are sadly mistaken.

Saudi Arabia did not exclusively use the US dollar. That is a lie they are telling us. Saudi sold oil for the British pound sterling quite often. The agreement made in 1974 said nothing about exclusivity. We did have an agreement with them, but it was for them to reinvest the US dollars they made back into the United States. Is there an economic war being waged around the world. Yes, but that is nothing new. We have bigger problems here in the US, ie.: Chinese influence in our political & economic systems! Far too many politicians & corporate CEOs have sold out to China & other rising global powers simply to line their own pockets. Our own Government is a bigger threat to the American people right now. They are part of a global elite group that is out to squeeze the American people. We pose the biggest threat to their global agenda. Europe has all but fallen. I truly believe these world leaders are putting on a big show and working together to manipulate the masses. None of them give a damn about us. Not one. I don't trust Trump either. Just my opinion. God bless. Better to trust the Lord than to put trust in man. Psalm 118:8

Hmmm, .08 puts me just $120K away. But I have 3 years to go so on track for more. I think it is better to overestimate and have too much than to underestimate and worry.

A nice car and big house are not indicators of wealth IMHO

The US should not force anyone to use its currency.. it is just not fair, plain and simple. All countries should be free to trade in whatever currency they choose. Goodbye petro-d.

It's better for the rest of the world. Why should anyone cate for the amerikans?

Don't buy oil from them or trade with them pretty simple go back to energy independent.

I really liked your point out of lifestyle rising versus pay raise. I had a boss that fell into a trap of an escalating lifestyle vs pay raise. He made a bunch more money than me over our careers, but I managed a much better life funding as I tempered my life style changes vs raises.

Absolutely agree it’s all about expenses in retirement, this can have a huge variation. Some folks are so happy with a very simplified retirement life and therefore minimal overall life cost. There may be other couples who want to do extensive travels or dive deep into expensive hobbies. It’s all about running the numbers, laying out your retirement budget, plot against a Monte Carlo assessment of savings and it will let you know. Don’t rely on ‘rule of thumbs’ they are fundamentally flawed.

When those communist countries try to eat Sadie i bet they will change their toon.

With a third world war knocking on the door at any moment and with what the BRICS nations have done it’s not going to take long to destroy our economy.

No russia china bricks will defend saudi and we get the scraps

2,000,000 will be worth what in 20 30 years? Nowhere near 1,000,000. Too bad we can't print our own money like our lovely government. That money printing is robbing us blind. And will continue to do so. So forget about 1 or 2 million being the goal 20 to 30 years from now. It is losing value quicker than you can make it.

Thinking back, I lived thru years of low, stagnant market (~ 2000-2010), but the were the years I just accumulated a lot of shares, shares that now bloomed into bountiful fruit trees feeding us through our FIRE years! As I mentioned many times in the past, long timeframe is the magic pixie dust in your equity portfolio

SA never agreed to sell oil exclusively in US dollars, and has been selling in other currencies forever.

Another outstanding video Erin.

The idea of retirement is vague. What people need to ask themselves is: What percentage of your current income will you need in retirement? Some people want to be frugal and go to 50% and some want a fat retirement where they do whatever they want and go 150%. This makes the retirement question much simpler to analyze.

Do you have any source documents to prove there was an agreement?

But spend 98% of it due to Bidenomics

Warren would not have gotten where he is without baby steps. Building a basement before he built his skyscraper. I.e. his current financial situation. Delayed gratification.

Great video. It is always encouraging to be reminded that success doesn't happen overnight and hanging in there while you are young is worth it.

For most focused investors, it does take approx. 20 years to accumulate your first million in net worth. The second will come in half that time, the third in half of that time etc. The biggest threat in derailing this pathway is life style creep.

Erin, Geezer here! Just wanted to say that even middle of the road (didn't want to use the word mediocre) investing skills work over time: I'm proof of it! We've been investing since we could start, in 1981, investing only 2% of our income, and that into a fixed rate fund (sort of like a HYSA today). We got terrible investing advice then. Bumped up our investing as we could to 10%. Straightened out the fixed income about 8-10 years later, and got into indexed funds. Fast forward to now, and my growth is about 5-6 times what I was making as a teacher (which I've recently retired from, woo hoo!) THIS. STUFF. WORKS!

Just because the federal government has data on savings, this doesn't mean that their data is any good. You will notice that in the video you keep talking about "their account." This misses the fact that many people have multiple accounts. My wife and I actually have 8 investment accounts between the two of us. Each us us has a traditional IRA, each of us has a Roth. My wife has a 403(b) while I have a 401(k), and we have two brokerage accounts. One that has most of our taxable investments and one that is attached to our checking account which just holds an institutional money market fund. If you were to look at most of these accounts individually - you would wonder if we will have enough money to retire. That, of course, would be to miss the obvious point that we own all 8 of them. If we use the old 4% rule as a rough estimate, a million dollars worth of investments will allow the person/couple to withdraw $40k per year and keep up with inflation. If you add in Social Security, this is an amount that most people can live on (particularly if they own a paid off house). Yes, people can live on less than this. People do live on less than this. Yet, wanting to have at least this much income in retirement isn't some sort of crazy goal. Individual circumstances will vary a great deal - because some people will also have pensions.

At present, the most prudent consideration for everyone should be diversifying their income sources, ones not reliant on government support, particularly given the ongoing global economic challenges. This remains an opportune moment to explore investments in assets like gold, silver, digital currencies such as Bitcoin, Ethereum, and XRP, thanks to Jane Nina Pickett for her guidance in these fields her proficiency is outstanding

It doesn't do shit.

Is my understanding they're not ditching the dollar, they are also taking other currency

The funny thing about Warren Buffet is that he really fell off after making that billion, despite accumulating >99% of his wealth after hitting that milestone. From age 19-39, his net worth increased by an average of nearly 50% per year, a 2500x total return. From 39-59 it was closer to 30% per year totaling only 120x increase. And from 59-93 it was only a 40x increase or 11.5% annualized, basically tying the market. If he had kept up with the returns he made before 40, he'd be worth a staggering $37 Quadrillion!! About 400x global GDP.

Yes but what will the dollar be worth in 35 years? Half?

Federal government has ruined this Nation. Just like the founding fathers were afraid would happen

I think you need to make more than you spend too! Especially in Retirement when you hope you have enough assets to really grow your Net Worth!

This is exactly me. Well, as a smoothed out average. I was 30 and had 30k equity in a house. Fast forward to 60 yo and the numbers are just like the chart. But the kicker, I did it on way less than 75K income. Like Erin says, stay the course.