Build a 'Die With Zero' Retirement Plan? Here are 4 Strategies...

Timestamps:
0:00 Build a "Die with Zero" Retirement Plan?
0:28 Quick Summary of "Die with Zero"
2:37 Strategy #1 - Dynamic Income
6:34 Strategy #2 - "People are Terrible Actuaries"
9:47 Strategy #3 - How to Best Utilize Social Security
11:37 Strategy #4 - Confidently Gift While Alive

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Always remember, "You Don't Need More Money; You Need a Better Plan"

[SebastianNoahe]

"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."

[dgallahue]

I'm 2 years into retirement at age 57 and recently read this book. I'm cheap and not sure that I ever paid full price for a book before, but I did with this one and it was well-worth it....highly recommend. It is not really a book for people with little discretionary income nor does the book focus on how to invest or make money. It's all about being thoughtful on how to spend money you already have. The guy that wrote it is quite interesting and in the book offers some very different ways of looking at typical uses of money and discusses new concepts such as quantifiable "memory dividends" which are the repeated (cumulative) enjoyment of recalling fun experiences with family and friends.

[ld]

Another great video and discussion on a good topic. Everyone should give this area thought even if they can't fully support the idea of dying with zero. I've been retired for 12 years and am in a good place financially. I've been focusing more on gifting while alive that past few years and find this very fulfilling. I've always helped my kids when needed but now do more than when they need an assist for some reason. Initiated by me simply because I want to. I've also got my grandkids getting more focused on learning about finances and planning for their future. I've encouraged them to open IRAs, one a Roth, by providing seed money to start and telling them I will match their future contributions. Much better to do this now IMO than leave them that much more down the road. Better for them and gives me pleasure and joy to see them learn and put it to use for their future. Larry, Central Valley, Ca.

[alk]

These are some very interesting ideas, but the main problem I see with this is how close those “traditional retirement date” and “optimal retirement date” are on the chart. You’re sacrificing a huge piece of long-term wealth (that will give you tremendous piece of mind even if you never get to use it) for just a couple of years of not working. It’s a tough sell.

[J-D]

Great video! Good message that more people need to hear IMHO.

[stevejohnson]

To me this is perhaps the most important video for someone that has saved enough money for a comfortable retirement. I know the market in the past 3 years has been a good one, but honestly I can say you can't spend the amount you thought you might need, especially if you don't have a mortgage or other debt. I have been retired now for 4 years almost and spend about 80% of what I thought I needed. And believe me its not by lack on not spending. In 3 years I have been every summer to Europe, 3 cruises, and our standard 10 days at xmas and new years to cancun. I also put cash away because I have ordered the new M2 G87 BMW with 6-speed manual.

[markbernhardt]

If you spend more you can eat better and extend your life. People living on garbage processed foods end up unhealthy. The other thing about gifting money to your 45-55 yo kids, maybe they can retire early and spend more time with you. This is exactly my situation as my last parent is over 80 and I am busy working at 54.

[davidpeters]

Realizing that "income" is used interchangeably with spending was key for me understanding these fine Safeguard videos. As someone who spent significantly less than his income for many years, this was not obvious or natural to me.

[markkunath]

What is the expected life length from 62? Get social security asap as there is no certainty as to life length.

[aleem]

Very informative video, I can relate 100%.
After going through so many Monte Carlo scenarios and financial planning sessions, I realized that I can retired at age 50 .
And that’s exactly what I’ve done I’m 55 now and I’m happy .
Don’t have any debt don’t have any credit card debt don’t have debt whatsoever .
Thanks for the informative video .
So I agree with you 100% providing my children with the money now where they’re young they just starting working and they can use the money to buy a home to buy a car whatever .

What’s the point of giving them the money upon death,
They’ve already succeeded in life and the financial means to do and get what they need.

[ChloeBensonBeautyBoxes]

I love my children, but they are saving for their retirement like I did mine. I will leave them my house. The cash will be
spent.

[arymniak]

I’m debt free. I spend my money on my proactive health campaign. I eat quality food (nutrition). I travel to better places than my dream home (mainly the location but the accommodations must be first class). Otherwise I spend only on essentials because I have enough of the material things that mean nothing (silky me thinking they mattered when I was younger). I plan on enjoying my next 30 years fully, inheritance? My kids are all on track to be financially independent, plus I believe our communistic government will eventually out law inheritance completely. I’m 65, will take SS at 70. Be healthy, it is worth more.

[popovdes]

totally agree to Die with Zero. Life have to be filled with experiences. It is better to accumulate with experiences rather than wealth. I plan to start slow travel 4 years later all over the world with frugal life after retirement. This will make my life more meaningful

[chris_harvey]

Can you spend some more time on annuities? With CDs paying 5% and treasuries paying so well, what is the breakeven for them? What happens if the company goes under?

[vernshird]

I'm guessing that this would apply to me & my wife as we don't have kids. I have couple pre-tax accounts (i.e. 401k and 457b), a small ROTH IRA, will get a gov't pension when I retire at 60, and SS at 62 or later. My wife has a similar set up. The gov't pension and SS are for life so if they end up as my only remaining income sources when I pass, then that would be my way of "dying with zero". If I get a p/t job, then the SS will be delayed until the p/t job ends.

[rogerdodger]

You're just not going to spend a lot after 65. You don't have the energy or physical ability to do much.
The best way in my opinion is to SPEND IT WHILE YOU'RE YOUNG and then just save a small portion for your old age. Travel NOW. Enjoy life while you can. The senior citizen center will still welcome you.

[davidfolts]

It's weird how our brain is attracted to simple-sounding ideas. However, look behind the curtain; zero costs more than it's worth. Thanks, Safeguard Wealth Management, for the great content!

[ianollmann]

FWIW, retiring without spending it all is a very green thing to do. Excess spending drives the economy to consume resources in our name.

[flowersfrom]

I am concerned that annuities can interfere with optimal tax strategies later in life, especially considering RMD. Is it a valid concern?

[donaldcedar]

So, purchase an income annuity, and wait until 70 to collect SS. Sounds good to me. Do I even need to read the book now?