What Retirement Income Puts You In The Top 1%

What Retirement Income Puts You In The Top 1%

🔥 MORE FROM AZUL:

💲 NEED FINANCIAL ADVICE? 💲
1) Google "fee-only financial adviser" or visit www.NAPFA.org (largest association of fee-only financial advisers). NOT an affiliate link
2) The first question to ask any financial adviser is, "Are you a fiduciary to me 100% of the time". Get the answer in writing
3) Please note that some people call themselves "fee-based". This is NOT the same as fee-only. Fee-only advisers have committed to being fiduciary to you 100% of the time.
4) Personally, I would only hire an adviser who is a fiduciary to me 100% of the time. This is not a suggestion on what you should do. Just sharing my personal preference.

⚠️ Azul's "Scammer" Warning ➡ PLEASE READ! ⚠️
Be careful of scammers. In the comments section, I will NEVER ask you to contact me, offer any investment products, recommend a stock broker, or anything similar. Some scam bot commenters 'ask' for investment help, and later, other comment bots reply with "how great X idea/investment/person is" in the replies. These are scam threads. Do not fall for them.

🚨 MY VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer) 🚨

The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision, ideally from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.

This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and may NOT be suitable for all investors.

This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.

Spoiler Alert: There are no "get rich" programs. Rather, just basic blocking & tackling and putting in time and care. Do your homework, choose wisely, and (IMHO) work with experienced professionals who are fiduciary to you 100% of the time.

[nicolasbenson]

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

[johnlennon]

I just 30 this year and have just under $40k in my own 401k and another $10k between my other retirement accounts. My wife has about $41k in her retirement accounts (she is not currently working). I currently make close to $63k a year. I only do 5% though to my 401k for the company match and another 10% of my income is split between an HSA and a ROTH IRA

[Riggsnic_co]

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

[GillerHeston]

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.

[andymarion]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.

[NormanGhali]

I have been managing my 200K portfolio well over the past few years but I just don't have the time to replicate what I did in the past. I took a hard hit after some poor decisions and I am looking to recover and excel in the investment field.

[alexsteven.m]

I would be retiring or working less in 5 years, and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.

[JerryLuca-nmru]

This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

[bukki]

I’d be retiring or working less in 5 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.

[JosephChism]

Acquiring a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $160K for some time now, but my major challenge is not knowing the best entry and exit strategies. I would greatly appreciate any suggestions.

[peterwilliams]

Is this a good time to buy stocks/crypto in the Europe? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to manoeuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere.

[davidroush]

We never made 1% annual income, but we were supersavers and far surpassed what is noted as 1% new worth in this video. The key was living below our means on decent jobs while investing in the market starting in our early 20s. Compound interest is a major effect over 4 decades later.

We never used financial advisors as the scam comments are pushing in this thread. We chose a simple path with Index 500 funds, mutual funds, and stable stocks like Pharma as the risk of them going under is almost zero.

[bubbasmith]

Azul… I always enjoy taking a walk with you. As a 57 year old… your friendly demeanor and sage, easy to understand advice is very comforting. I consider you the Mister Rogers of financial advisors. Keep up your regular walks… I look forward to the journey.

[JonesFamilyRanch]

This is a great reflection on the often cited “how much someone needs to save for retirement” guide. Clearly, the top 1 or 10 percent are not necessarily saving 10 times their annual income, and there is quite a bit of opportunity income. This does however demonstrate the reasons it is so very important for anyone starting out as a low income earner to engage and save for retirement early to maximize the power of compounded growth.

[jakubageter]

Those who were unable to accumulate enough money during their active years to meet their demands are the retirees who now struggle to meet their fundamental needs. Numerous factors are determined by retirement decisions. My wife and I both served in the government for the same number of years; she invested through a wealth manager and I did so through a 401(k). After our retirement, both of us are still working.

[judynewsom]

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.

[kortyEdna]

We experienced the peak of our era, and now it is gone. Recession is tanking everything including 401K. My retirement equities portfolio of $750K is in the reds. I keep losing because of inflation. This world will fall to the corrupt rulers in the same way that Rome did. I'm sorry if you're thinking about retiring and you're worried that your pension won't be enough to meet the rising cost of living. Horrible foreign policies everywhere, bad regulatory policy, bad fiscal policy, and bad energy policy.

[mtadams]

My wife alway says we are five percenters. We make about 500 grand a year. We generally don’t spend money like crazy and to be honest I don’t feel any different than when I started out making very little. I still mow my own lawn and do most of my home repairs. We do save a lot but we also spend quite a bit taking care of our lesser off family members. I don’t really need a lot and most of the things I love to do cost very little. I think people think money will fix everything but I don’t believe that. If you have have your health you truly are wealthy.

[manuelr]

To be comfortable and enjoying life while saving for retirement should be the goal after all you can't bring it with you. I sit with my kids nowadays and browse through our yearly Disney photo albums and quite amazed how they remembered what happened on those vacations. Make memories they are priceless glad I listened to my wife. :)

[colleen.odegaard]

A career which gives you a little bit of time and work-life balance costs you financial independence because it'll be low paying. Tough choices to make. Keep in mind, investing provides a jumpstart to financial freedom. At 45, I already have a $2m retirement portfolio