Average Net Worth Of Retirees

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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.

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*299 {Hammad}[Sid] Average Net Worth Of Retirees

[Joeknowsball]

Am 59 retiring next year but the thought of retirement gives me weakness. 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 never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[jeffDwyer]

I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report

[DonaldMark-nese]

With Roth IRA, the money you are contributing has already been taxed. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, Not sure how much to contribute, I'm still at a crossroads deciding if to liquidate my $338k stock portfolio.

[laxgani]

Appreciate all your retirement advice. Uh, could you scoot that lamp behind you a little further to the left? It’s about to fall off the console. 😅

[umrmech]

The lamp hanging over the table edge behind you was making me crazy!

[AverageAmerican-mm]

450k in savings with your house paid off and you still panic? I'm thinking of retiring next Spring when I hit 59. I've got approx $500K in investment accounts (403B, Traditional IRA, Roth IRA). My part-time job in SC annually is about $50K. I've got rental property that adds about $40K to that income on my 1040. I have no debt. do you have any reason to panic ? Absolutely

[CheckThisOut]

SPEND early in retirement. I retired at 72 (loved my job) two years ago. I just took the whole family (17 people) on a Cruise. It was a super blessing. FYI: Cost about $40k.

[JamesOrth-ov]

As I aged I paid off my house and became debt free. So I need very little to pay my bills. I'm wondering how many people do this same thing because generating large incomes in retirement seems more difficult.

[Mlanderos-te]

I just turned 47 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 60. How best do I maximize my savings in stock market?

[baysidessi]

It's not just about Net Worth. It's about spending. You can be worth 20 million, but if you spend a million per year before retirement, then 20 million is laughable. Save, and spend moderately. If your income increases, it doesn't mean that you need to buy a new house and car. Most rich people I know (10 million+ NW) live at their outer limits. It's sad

[kenvalenti]

My divorce left me bankrupt - so I feared making money and I feared owning assets and feared having money in the bank. Assets attract lawyers and the more you make the more they cost.
I retired at 57 with $200, 000. I'm now 65 and have $100, 000. I live in a mobile home and the only activity I do is camping and hiking with my dog in my van.
I went 15 years with no health insurance and no home owners/renters insurance. Chose to eat healthy and exercise instead. Got medicare and am hoping to postpone social security as long as possible.

[geminiecricket]

Baby Boomer here. 3% group. Count on the car needing 10k in repairs when you least expect. The roof is needing to be replaced at 18 k. A//C needed to be tuned up at 8K and new prescription glasses…..my first year all alone in retirement. Glad to have saved more than I was told to save! I was in cold shaking fear this entire year even though I afforded it easily but I felt like I was bleeding . House and car are paid for so repairing is the only option. House insurance and taxes paid and now income tax season approaching. Expenses are never ending. Save more is my advice! 2024 was brutal. Happy New Year 🥂everybody 🎉

[danmeissler]

I think my main concern with this video is that Azul’s lamp is about to fall off the table behind him.

[OldCarsRule]

Very interesting videos. A very small side note - that lamp over your left shoulder is about 1/2" away from crashing to the floor! 🙂

[kevind]

My wife and I are 67 and both retired three years ago. We have 11x our combined salaries of our last year of work. Net worth $2.5MM. Our take home (dividend income, small annuity and SS) is more than when we were working. We haven’t touched any investment principle. Diligent savings through the years paid off.

[dh]

How much you need in retirement has NOTHING to do with your salary and EVERYTHING to do with how much you will be spending!!
Also, when saving for retirement, you need to adjust the future value of your portfolio and spending to present value to determine what your goals truly are.

[NatalieDormer-orjj]

I am 43 and last year I was working full time, budgeting groceries, unable to afford date nights, and missing time with my kids. Now I learned how to make money online. Now am a SAHM, homeschooling, and making profits every week.

[RyanBerich-uw]

Thank you for focusing on what you should be saving instead of how much the average mean or median is saving. I think the better formula would be based on your spending not your earnings.

I also don’t understand the logic of focusing on retirement versus total savings. Any savings should be included unless you intend to use it for a specific purpose other than living expenses later in life.

[vinylEarthlink]

Many studies disregard non-retirement accounts. However, having a couple million $$ in a brokerage account is very useful when you're retired. Since you need a place to live, I wouldn't count home equity. A house is a use asset, and does not provide income.

[richardhudson]

We experienced the peak of our era, and now it is gone. Re-inflatioin 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.