How Much $ Do You Need to Retire? The 4% Rule for 2023

How much money do you need to retire? We talk about the 4% Rule, retirement time horizons, how much we spend in retirement, your magic number, the FIRE movement, along with data from Vanguard and Fidelity.

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Timestamps:
0:00 - Intro
0:19 - 4% Rule
1:40 - The Chart
3:43 - Updated Guidelines
5:38 - Time Horizon
7:14 - Dynamic Strategy
9:01 - Retirement Spending
11:33 - Your Magic Number & Calculator

PERSONAL LINKS:

PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel

[biankabrodeur]

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. I retired with about $650k in my 401k.

[Stephine-unzs]

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 determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.

[MargaretGeoffrey]

I began my investment journey at the age of 27, primarily through hard work and dedication. I'm to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier it is not about achieving quick wealth, but rather ensuring long-term financial prosperity

[IrenaDolinsek]

It is not always fear. Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value.

[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.

[c.t.u.o]

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.

[randxalthor]

Thanks for talking about this! It's nice to have your take on things that go deep enough on subjects like the 4% rule that there's actionable nuance. A whole generation or more of people are out there making dangerous assumptions with incomplete information because of short articles and videos claiming that the 4% rule is a universal safety blanket.

[Peteliao]

I am 36 years old now. I have about 2.4 million net worth, mostly in real estate. With my medical condition, I will only live to 65/70 years old. I plan to retire in about 4 more years, and enjoy the rest of the days of my life. I plan to travel the world.

[ravidinbar]

Eyyy glad to see you release this video :) excited to watch

[jardel_lucca]

Loved how deep you went in this analysis. Excellent video; very informative.

[GOATED]

Watched Humphrey go
From 15k subs to 1.2m. People eventually realize how good u are at what u do. Thanks for educating us Humphrey!

[JosephineGaule]

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.

[ReadnRiot]

There's actually another way to the lower cost and get more value for money. Move to a more low-cost country or state where the value of your dollar is downright massive. Thanks Humphrey! It helped me a lot in planning for my early retirement.

[NimaJayFinance]

Another gem for the people! You are the man Humphrey 🙏😁

[lizd.]

I plan on retiring when I hit 57 and though I'll be a little short according to the FIRE calculator, I'm doing it anyway 😁

[Financial-Education]

Great video, it’s rely edukativ and I enjoy waching your content.

[Sora-tghe]

I remember in movies from the mid 90's-2000's some character's plan was "that last hit" to retire. And the truth never crossed my mind how much it could be.

[samg]

This is a very good video, explains the retirement world very well. If we only knew how long we will live, these calculations would be a lot easier!😢

[enco]

Thanks for bringing me back to reality. Lean FIRE for sure is too risky for my lifestyle and age

[linksdf]

i've heard a lot ppl talk about how they want to retire early, but there's not much to do if you retire. working toward a goal gives us purpose which is why million and billionaires keep working