7 Deadly Sins In Retirement

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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.

🚨 Azul's 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.

044 {TN}NEThe 7 Deadly Sins Of Financial Planning

[Riggsnic_co]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[Muriel-]

Underestimating your expenses. People often forget about things like healthcare costs, property taxes, and even hobbies.

[MidlifeCrisisManagement]

you're so right about the fear factor, Azul. "just one more year" is a year that you'll never get back. if you have enough to retire, don't get greedy. the company always does what's best for the company.

[patrickjones]

I’d be retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $120K per year but nothing to show for it yet.

[danielhurst]

Another tip, have a spreadsheet where you can track anticipated returns from accounts, and income coming in, and spending and how spending affects your balance as you age. There can be this fear that if I spend $10, 000 now it means I'll be short $100, 000 in the future because of compounding interest, and while that is technically true, look at your portfolio and be honest on how much money you need when you are 90+
You can be in a situation where you now have to start gifting every year to avoid paying a huge estate tax, when you could have spent a great deal more money when you were much younger, and still leave a large legacy and not give 40% of it away, or stress over all the estate planning (if that isn't your thing)

[cumbiajazz]

Thank you Azul! Always appreciate you reminding us how much time we have left >60. Prioritize health, yes. Please continue to inspire! 😎

[barbiec]

Thanks Azul. I already know some of this, but it helps to watch on the TV and my husband learns that way too.

[susannepereira]

I’ve been watching for a couple of years. Im from Canada and will retire in the fall. Have been a nurse for 30 plus years and have been saving for decades. 56 and not choosing one more year. Thank you for the videos.

[J.woltz]

I’d be retiring or working less in 5 years, and curious to know how best 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.

[geminiecricket]

I do not know how to spend….only save ! Do not laugh ! Coupons and discounts and ‘on sale’ is how we have lived and I have no idea how to spend the nest egg. Legacy for 4 grandkids, I guess, is the way it will go. It is kind of fun to live on retirement and social security and Medicare with a Medicare gap plan….besides travel what else is there? 72 is not a go go year.

[ysjreti]

I had fear of retirement and I almost put in one more year I'm 62 now 8 months later I'm super happy I did it I have zero regrets it like learning how to fly everything falls into place a little by little you just got to just throw your hat over the fence and do it once you do it everything will fall into place plan well live below your means if you watch the pennies the dollars will take care of themselves

[richardross]

Saved, saved, saved all my life. Dang it sure is hard to break into that piggy bank! I, m 68 and have been retired now for 8 years. My bottom line on my 401k is still the same as when I retired (a little more actually) i, m in the same state as Azul, and would love to buy him a beer!!!😊

[conanthelib]

The most important part of watching Azul is to not look at the bloody comments. It's like scam central.

[hogroamer]

If taxes are a problem for you in retirement, it's a GOOD thing! Maybe you didn't plan well, Roth wise but if taxes are a problem, you have lots of money, oh darn! But, look on the bright side. We live in the greates country on Earth and we're just giving back. Yes, I wish our politicians were more responsible but that's not in my control.

[tripillthreat]

I’m 52 and looking at early retirement to take care of my aging parents. That said, I’ve begun to realize that I can probably support the lifestyle my partner and I would be looking for anyway. But I *AM* doing “one more year” for a few years, mainly to see if I can achieve eligibility for “Rule of 55” withdrawals.

[iuordanmatkov]

Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Stocks like Nvidia stocks and ofcourse AI stocks that will align with my risk tolerance and financial goals but it seem to be bearish right now.

[Margiewallberg]

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Jane Hinson

[nicolasbenson]

Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.

[Patlove]

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.

[cynthiacassel]

I don’t think I ever had more than $2, 000 in savings possibly $3, 000 at a time. I’ve been thinking of some changes to make so I could set more aside in an electronic bank account not connected to anyone else, as if that were possible.