Retirement Income from $1,000,000

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Financial Coach and women and money author Camille Gaines explains how much retirement income you can expect to earn from $1,000,000 when invested in stocks and bonds. She explains that the income yield would be about 3%, or $30,000 annually. After taxes, this equates to about $1,875 a month of retirement income. Investments can be viewed as made for income or for growth as primary objectives.

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HOW TO RETIRE AT AGE 30 (& Live Off Your Investments)

How much money do you need to have invested in order to retire and live off your investments? And beyond that, is it possible to save up and invest enough money to retire by 30? In this video, I will be explaining the strategy followed by countless people that has allowed them to retire at 30 or less!

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DISCLAIMER: Ryan Scribner, including but not limited to any guests appearing in his videos, are not financial/investment advisors, brokers, or dealers. They are solely sharing their personal experience and opinions; therefore, all strategies, tips, suggestions, and recommendations shared are solely for entertainment purposes. There are financial risks associated with investing, and Ryan Scribner’s results are not typical; therefore, do not act or refrain from acting based on any information conveyed in this video, webpage, and/or external hyperlinks. For investment advice please seek the counsel of a financial/investment advisor(s); and conduct your own due diligence.

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Early Retirement: 4 Costly Errors Most Early Retirees Make

-Transcript-

Retirement Planning Mistakes: 4 Errors Most Early Retirees Make
Hey Everybody, Dieter Scherer here fee-only financial planner and founder of Realize Your Retirement.
Today we’re talking about the 4 Errors Most Early Retirees Make

Mistake #1: Not planning for health insurance costs before Medicare kicks in
How are going to pay for health insurance before Medicare kicks in?
You generally can’t apply for Medicare benefits before age 65. Most people get
Health insurance through their employer and porting your health insurance through COBRA is expensive and only available for up to 18 months after you terminate employment. So make sure you have a plan in place to take this into account.

Mistake #2: Failure to plan for How much will you need each year?

People generally need more during retirement than the often stated 70% income replacement ratio offered up by many as the gold standard. In practice, I usually see most people spending close to 100% of their pre-retirement income. Most people grossly underestimate the amount of money will need each year, especially when they retire early and are much more active with travel and other activities.

Mistake #3: Not Owning Equities in your portfolio
Simply put, not owning equities in your portfolio will set you up for failure during retirement, especially when you retire early. With interest rates close to zero right now, CDs and bonds will not give you the returns you need to have your portfolio survive all the way through retirement.

Mistake #4: Applying for Social Security at the Wrong Time:
Most people apply for Social Security as soon as they are eligible. If you retire early it might make sense to take Social Security so that you have a larger income each month, but the fact is you need to consider a whole lot of other factors before you apply. These include how long you are expected to live, whether your spouse is eligible for benefits, how much your spouse and you can expect to receive each month and your other sources of retirement income.

To answer these questions I’ve made a free video course available over at SocialSecurity.RealizeYourRetirement.com, a link will be in the description below. The free course goes through the future of Social Security, the rules of Social Security, and how to maximize Social Security benefits.

I hope today’s video has offered you some good value, if you have any questions or comments, let me know in the comments below.

https://www.youtube.com/watch?v=wuQSip3yakI

The Secret to Retirement Planning with Minimal Taxation

Financial planning and taxes in your retirement years does not have to be a scary thing for baby boomers and retirees. In fact, there are very simple ways to safeguard your retirement income from both volatility and taxation. In this video Rob discusses where IRA’s, 401k’s, and 529 Plans fit in the spectrum of taxation and financial planning.

A few of the key topics in this video that you will learn are:

Capital gains versus ordinary income tax
Tax-free versus tax-deferred
Where annuities fit in your retirement plan
How a private pension is a viable alternative investment.

Please subscribe to our channel above to make sure you receive updates on all future retirement videos. We post new retirement videos like this every Tuesday and Friday so please Subscribe now to get instant updates on our upcoming videos.

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How to Retire Early: The Shockingly Simple Math

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How to retire early – let’s break down the steps to early retirement.

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This video shows you how to retire early with shockingly simple math.

I’ve been a personal finance nerd for a while, and the idea of early retirement is really interesting. I’m a huge fan of Mr. Money Mustache who wrote a great article on the shockingly simple math behind early retirement. Since I make videos, I wanted to take his theories and break them down into a digestible video.

I hope you enjoy! And like I say in the video, please like and share this video, then leave a comment. What do you think? Is this amazing or crazy? What is your savings rate? What other personal finance questions do you have?

I credit a lot of this work/theory to Mr Money Mustache. Read his full article about it here ( ). Also, check out this cool early retirement calculator ( )

Script:

Hi, my name is Phil. I’m a video creator and online instructor. I’m also a personal finance nerd.

Because of that, I want to create a series of videos that breaks down some of the most mystifying topics that plague our society.

In a world where people’s finances are typically locked away and not-talked about, I believe opening up the gates of financial conversation will help everyone live a better and smarter life.

In this first video, I want to explain the shockingly simple math behind early retirement – thanks to one of my biggest heroes, Mr Money Mustache.

While the ability to retire may seem like a distant and unreachable goal for many, the premise comes down to one thing. You need to invest money so that it earns more money. This could be investing in stocks or bonds, real estate, or any other of investment vehicles. As soon as your investments earn enough money for you to live on each year, you are able to retire.

Let’s break it down further to know when you can retire.

The most important concept is knowing your savings rate, basically how much you make minus your expenses.

If you spend 100% of your income, you will never retire… because you will never be able to invest any money that earns money for retirement.

If you spend 0% of your income, you can retire right now… because somehow you are living without needing to make any more money.

Between 0% and 100% are a number of savings rates that correlate with the years it will take to retire.

For this, let’s assume your annual investment return is 5% (which is conservatively low) and your withdrawal rate is 4%… meaning you spend 4% of your net worth each year. For example, if you have a $1,000,000 net worth, and you live on $40,000.

If your savings rate is 10%, you will be able to safely retire after 51.4 years. Safely, meaning you will never run out of money.

If your savings rate is 25%, you can retire in 31.9 years.

50%, you can retire in 16.6 years.

And if you can somehow save 75% of your income, you can retire in 7.1 years.

Now getting to that savings rate might not be easy in our world of societal pressures, keeping up with the Joneses, and bad habits. But you can get closer by making smart decisions, avoiding debt, and living simply.

The key take away is…
Cutting your spending rate is way more powerful than increasing your income because no matter how much money you make, decreasing your spending will speed up the process.

A note, The math behind early retirement works if you are working a minimum wage job or a 7-figure CEO salary.
It’s all about the savings rate.

So if you want to retire in 10 years, the math tells us that you need to save 66% of your income.

Now there is a lot that I didn’t talk about – like how to invest, and how to cut expenses to get to a high savings rate. Those will come in a future video.

For now, get excited about the honest truth about retirement (and early retirement at that!)!

Let me know what you think in the comments below? Is this exciting or bogus?

Until next time… start being money smart.

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