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It's a lot to wrap your head around. I mean, one minute you're dealing with the loss of a loved one, and the next, you're trying to figure out complex tax laws.

I am 58 and I have 1.9 million in 457b and 401 plan, I am still work and maximizing my investment plans. My pension will be 101,000 in a year and half . How can I take advantage of a Roth Ladder before I am subjected to RMD's?

not taking retirement advice from someone with a typo in their video in the first 2 minutes.

It’s recommended to save at least 20% 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 that percentage can ensure that you have enough to venture into the market and diversify. You can take advantage of compound interest and potentially grow your portfolio over time.

try running a spreadsheet where you invest the money at 5% above inflation and draw out what you would if you wait. you will be over 100 before you break even, if you live until you are 70 you will have 8 years of income if you took it and 0 if you didn't. if you invested that 8 years of income it will beat anything you will ever get after 70. a dollar in your hand is worth 2 in the bush and 10 in the hands of the federal government. a wise man makes his money work for him, a fool works for his money.

I'm only 36, but I'm single, with no kids (I have a cat), and have a net worth of $305K. I'm on track to becoming a millionaire by age 45. Only $125K of my investments are in an actual retirement account like a 401K and Roth IRA. My plan is to FIRE by 50 with having recreational employment to sort of coast until I'm 62.

These type of videos are facts and figures!?!? Common sense I think I learned f my parents. I’m 591/2 in September, probably going to retire next June when my wife does. With both pensions combined; 14k month and income properties 8,500 monthly. Plus savings and 401k and zero debt I think we are fine. Monthly expenses now 5k I’m not even counting on social security, it’s so little after 30+ years of working

Retire abroad on half the cost in the USA 👍🏼

I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

Retiring at 59.5 monthly incomes from: State Retirement $4400 a mo 457B plan $1100 a mo Social Security at 62 $1600 a mo Vanguard Digital Advisor if needed $ 4k a mo. Home is paid off, will Air BNB as I travel at $2k a mo. No bills other than utilities. So 5 sources of income & most of us can do something similar. Meaning the savings you have should be sitting in a high dividend yield ETF so you can pull the $$ the dividends pay out rather than depleting your savings over time. 👇You can also consider living in a country where our dollar is stronger just type slow travel into RUclips to see some of them - You got this

BS AS ALWAYS

He would have to spend 19,230 a year yea good luck with that

Idk why people think they can retire under a million

No sir you can’t retire

Why does an inherited ROTH IRA also have to be closed out within 10 years. Also Fidelity says you have to take an RMD on the inherited ROTH too, they said the inherited person does not get the same benifits as the original owner of the account. Doesn't make sense.

What about if the FIA Bonus is offerred as way to convert IRA money to ROTH, paying taxes, from within the new FIA Account? Does that change the calculation, as to whether it would be worth taking the bonus?

What about Inherited Roth? The rules are not clear on an RMD vs 10 year lump.

$1 million is before or after tax?

You need to discuss why/how you arrived at the quantities you did in the conversion process. When Converting to a Roth you either have the cash on hand to pay the taxes or you remove from the balance.

Inflation is not taken into account here. Your 120k will have to be at least 200k in 10 years. All financial planners assume tax rates will be higher, maybe they will, maybe they won't. And the emphasis is always on tax avoidance rather than actual growth of your retirement accounts.

So the answer is NO

Yes you might say that but More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. .

I have a lot of money but my husband just passed away suddenly. I give all the money just to have him back with me. I have no debt. My husband was my protector and my life. I found out that money isn't all that important. Hold on to your loved ones.

I have no savings how do I retire ,tell me that. If u have $$$$ ,u dont need advise. Help us who does not have any money

40% underestimate their life expectancy -- which means that MOST -- 60% -- OVERestimate it. This argues more for spending like a drunken sailor, not for planning for a decrepit and very distant future.

Is there a GRA annuity and is it a Group Retirement Annuity? Not sure this abbreviation, what does it do

thought annuities were mostly a bad idea? they don't have any cost of living increase and you basically always lose buying power and get no growth

I’d love to see some videos for single people. I click on these but it always ends up being a couple in the example. Not relatable.

It is not a big mistake to take out ss at 62! If you have 2m invested-it makes more sense to not touch those and let them grow as much as possible. This is why I don't listen to these kinds of people.

I stay at Sugarland Texas . Environment wise, it’s one of the best places I have lived in US.

What are your thoughts about using covered call etfs like JEPI and JEPQ to create a monthly income stream and not have to tap your principal.

I just retired in January, live in a small town west of Wichita Falls, not a whole lot here, but cheap to live. Metro plex, high county taxes, to many people

Troy, your Fixed Annuity example shows the couple withdrawing from their 401K/IRA during the first few years of retirement and then stopping withdrawals as they get their income solely from SS and the Annuity, but what about RMDs which would require that they withdraw funds from their retirement account??

Can I get some of his benefits (spousal benefits ) if I was divorced from my husband, but we were married for 10 years before our divorce?

I can't believe I'm turning 60 next month! It feels like just yesterday I was fresh out of college, full of dreams and ready to conquer the world. Now, here I am, staring down retirement

Why would you say Fredericksburg is closer to Austin than San Antonio when actually San Antonio is closer. 😡

I think one of the biggest pieces not mentioned is lifestyle. If you retire on that small amount 750,000, you better not have a mortgage, a car payment, a boat payment, a college that needs to be funded. I think financial investors are optimizing The numbers needed for retirement rather than being the pragmatic truth. I'm 63 and Retired at 60. The only reason I'm able to retire comfortably is because I paid off my mortgage, use the equity from the sale of my waterfront property to buy a condo down in Florida cash. I own two homes Scott free. But the biggest reason I retire is because I have a healthy Navy 06 pension plus some VA disability, plus a retirement from the VA, plus my Social Security (2500 a month )plus my wife's Social Security 2500 a month. my thrift savings plan with the government is recovering at 640 K, it lost almost 200,000 since November 2021. Financial advisors just keep assuming the markets will go up up up and up. I think that's a very Rosie picture that's not realistic. I lost a quarter million dollars in my government savings account, I'm now starting to recover. I don't touch it. It's now at 640 K but it was up to 790K November November 2021. If I had no pension, I wouldn't even think about retiring with less than $2 million in the bank. The cost of utilities, incidentals, lifestyle you're used to going out to dinner, traveling, adds up very very quickly.

Does the low housing prices out weigh the high property taxe rates?

What’s the lowest probability % you’d consider to be safe to retire?

Where are you located ?

$750k?? Not enough.

Retirement planning is complex. Flexibility is key. Unexpected expenses happen. Having a plan B is crucial. Consider consulting a financial advisor to create a personalized strategy. Remember, retirement is a new chapter, not the end of the road. Enjoy it.

Thank you for putting on this livestream. I appreciate all of you taking your respective time and effort.

Do you agree that we will need a healthy savings account to supplement our income in economic downturns?

I am a Native Texan in my 70’s, and though I agree with some of your picks I have absolutely no idea how you came up with some others. First I have to agree with your picks of Granberry, Kerrville, McAllen, and Fredericksburg. Although some of your reasons do not match what retirees are looking for. Dallas has a lot of really good restaurants, but it has terrible weather and sits in tornado alley. El Paso and Aransas Pass-you have to be seriously kidding! Hard to believe you live near Houston and left The Woodlands off your list. BTW: you really need to look at a map. Laredo is southwest of San Antonio-Kerrville is not. San Antonio sits on the edge of a plateau. Geologists tell us that millennia ago San Antonio was beach front property. That is why the Texas Hill country is North of San Antonio, and most everything south of San Antonio is sand.

The so called ‘low cost’ Housing cost is mis leading. Property tax in Texas is horrendously high !

I turn 57 this coming Thursday. I am still working full-time at a day job and have started a business I will work at part-time after I leave the day job. I have about 750K combined in a 401K and a SEP account. Net worth is good as a result of real estate holdings. Low debt. I also have a pension through my union of $118,000/year if I wait until I am 65 to take it. I'm ready to leave the day job, but I do not know in what sequence I should start to take out funds to live on. SS first at 62? Pension first? Not yet sure of what my business might kick off in income, but it could be 30-80 year depending. Any thoughts?

I used many online tools and even AI, and the biggest variable in estimating the optimal age for retirement is, by far, annual expenses. When you start collecting SS only matters if you expect to have high annual spending. So, a middle-class couple that believe they need $100k per year is completely out of their minds...

Yes with a lot of cat food

Good point on itemized deductions. In high tax states the $10k Salt cap goes away.