Why This Couple Could Not Retire With $250K Passive Income (Top 5 Retirement Mistakes)

Retirement has been the biggest and most common concern we get when we see a new client, they are often worried if they will have enough or if they are doing the right things to bring them to retirement. This week we are going to dive into the top 5 retirement mistakes we see all the time that you must avoid to have a much better and smoother retirement plan! In there we will also discuss about an article written by a couple who tried to retire early with $250k passive income but could not and was forced out of retirement.

This is not financial advise, speak to your advisors!

#canada #retirement #finance

▼ Time Stamps

[0:00] Start
[1:18] Couple could not retire with $250k income?
[4:46] Retirement mistake #1: Too focus on real estate
[7:33] Retirement mistake #2: Forgetting inflation
[9:25] Retirement mistake #3: Sticking to "golden rules"
[11:15] Retirement mistake #4: Not accounting extra costs
[13:44] Retirement mistake #5: No POA / estate plan
[16:28] Bonus mistake: not reviewing often

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[soniaava]

Mrs Anna is legit and her method works like magic I keep on earning every single week with her new strategy

[ooogyman]

"They lived in San Francisco...."

You could've stopped the video right there.

[joehenry]

I’m sorry, but if you can’t live on $250k of passive income a year, your living above your means, and need to cut back.

[zuneluminox]

The second you said San Fran I knew it was doomed

[willerwin]

Based on the scenario, here are my *Top Five* for this couple:
#1 Don't retire in San Fransisco.
#2 Don't retire and *then* have kids.
#3 Don't retire at 34.
#4 Don't retire when you still owe more than a third of your net worth to a mortgage.
#5 Don't put all your money in bonds.

[virginiamoss]

unplanned pregnancy in retirement Now there's a phrase I never thought I'd ever hear.

[danieljamal]

My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.

[mr-paulinegraf]

A NICE VIDEO, EVERYONE OlNEED MORE THAN THEIR INCOME TO BE FINANCIALLY
SECURED.THE BEST THING TO DO YOUR MONEY IS TOINVEST IT BECAUSE MONEY LEFT IN THE BANK ALWAYS END UP BEEN IN ONE WAY OR THE OTHER WITH NO RETURN.I USED TO BE A VICTIM OF SUCH, NOT ANYMORE.I INVENTED AND MAKE STEADY PROFIT.

[dinning]

Nice content! Trading used to be a bit hard, especially with lots of fake experts and scammers, making profits on crypto coins or the forex market was almost impossible for me until I met the guru trader, Ms. Maureen and her skill is exceptional.

[taxol]

First mistake is to retire in SF 🤣 find a smaller town with affordable prices and good health services, make sure you have good health insurance

[tonemeister]

#6 TIP

Don’t try to retire early in one of the most expensive cities in the WORLD with only 3 million!! Go to Utah, Oregan, Colorado, 🇨🇦, 🇨🇷. You can’t have it all.

[davidl.turpen]

Come crash or not I am in this market for good. Algorithmic trading is all the wave now. without it i am not sure what my fate would have been in the market other than accumulating losses. but having bagged $430, 000 in raw profits from just the last quarter, all without executing a single trade, i belive this is the future of all kinds of investing. technology has really come a long way in making life easier for us

[walkerb]

I hit $5m at 50 years of age. No debt and kids are self-sufficient. I didn’t want to retire, but I did quit my job since it was high pressure and so stressful. Instead of doing nothing, I found a job that I enjoy and challenges me. I’m having more fun than I ever had and still feel productive and a net contributor to society. For me, this is the ideal solution.

[harrisonsmith]

*When you invest, you’re buying a day that you don’t have to work.. I pray everyone reading this becomes successful.*

[dontbanmebrodontbanme]

I read that story about the couple that had to come out of retirement because they weren't making enough anymore and they're crazy. Who in their right mind retires in the most expensive city in the entire United States? I read some of their expenses. $30K for private school for their kid? $2K a month for preschool? Look, if you don't want to retire, that's fine. But no matter how much money your nest egg brings in, you can outspend it if you decide to live like you're an NBA player!

[dorissteve]

Retirement is wonderful if you have two essentials — much to live on and much to live for. Invest wisely and get good returns.

[anthonycapo]

it's crazy to think that even with over 3 mill invested they still couldn't maintain a good life retiring early living in San Francisco. Gtfo of there.

[msocialmedia]

They retired before their home was fully paid?!?!

[morenahlatshwaya]

I retired at 53 thanks to my wife. It wouldn't have been possible without her company stock plan because it far exceeded the 401k we both have. She is six years older than me and was sick of the day to day grind but we had no clue if our savings and investments would be sufficient, we finally went to a financial management meeting and we make all decisions for a profitable Investment and prepared a plan for our early retirement. We should have done this years ago but never considered that we might ever have enough to retire early and I thank God and my wife for the ability to do investment . We are now financially stable with everything paid for and we have a good health insurance ! Don't wait time is something we have in short supply and no amount of money will buy you more.

[NadyaPena-]

Their biggest mistake was living in SF without paying off their house. Sorry but you will have a hard time in retirement if you don’t have a paid-off house.