We Need $1.7 Million to Retire??? Stop the Silliness!

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How Long Does $1 Million Last in Retirement | Phil Town

One million dollars is a common benchmark when it comes to retirement goals, and many resources will recommend this number as how much you should save before you retire.

However, while one million dollars may sound like a great goal to strive for, the truth is that one million probably isn't going to be enough for you to live a comfortable and enjoyable retirement. To better understand how long one million dollars will actually last in retirement, we'll take a look at some of the factors affecting how much retirement costs.

Wondering how much you need to save for retirement and how investing can help? Try my free retirement quiz today! Click the link above.

Looking to master investing? Attend one of my 3-Day Transformational Investing Workshops, virtually! Reserve your seat here:

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How Much Ripple XRP Do I Need To Retire? – Math Doesn’t Lie

How much Ripple XRP do I need to retire? Math doesn’t lie. If you know the variables, you can figure it out!

Should I Cost Average Down My Ripple XRP?

XRP valuation $334.47USD per 1 XRP

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PLEASE NOTE:

I AM NOT A FINANCIAL ADVISOR. THIS VIDEO REFLECTS MY OPINION ONLY. IT IS NOT TO BE CONSIDERED FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH BEFORE INVESTING YOUR MONEY.

How Much Money You Need To Save To Retire By Age 40

The more you save, the sooner you can retire. But how much do you actually need to save before retiring? Business Insider reporter Lauren Lyons Cole breaks it down in this video.

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Following is a transcript of the video:

First, figure out how much you spend each year, then divide it by 4% (0.04).

This is how much you need to save before retiring.

Once you know your goal, you can leave work as soon as you reach it. But to make this work you have to invest your savings.

You can survive for only 25 years on these savings alone. So if you retired at 40, you would have to start working again at 65. But there's a way to make it stretch even longer.

Continue to invest and earn an average of 5% on your investments each year, then you will have enough to live on for the rest of your life.

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Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

Is A Million Dollars Enough To Retire On?

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Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

Find Out How Much Money You Need to Retire | S. 1 Ep. 13

Joe Anderson, CFP® and "Big Al" Clopine, CPA share strategies to help you find out how much money you will need to last through retirement, how much money needs to be saved and how much needs to be accumulated for your specific retirement plan. What's your magic number?

Click here for a Free Retirement Assessment:

So let's take a look at the first method of determining your "magic number"…

1. 8 Times Your Final Pay

Example: $100,000 Income Per Year
Magic Number: $100,000 * 8 = $800,000

Pro: This helps the person close to retirement find out how much they may need for retirement

Con: It does not factor fixed income sources (Social Security & pensions)

Con: It does not help a younger investor understand how much they need to save

2. Saving 15% of Net Salary

Example:
Annual Salary: $100K
Annual Take Home Pay: $70k
Annual Savings: $10,500 (15%)
Savings at 6% for 30 Years: $830,000

This method is good to help people start saving more money. Most Americans are not saving nearly this amount and this strategy does not help someone close to retirement see if they are on track or not.

3. 4% Distribution Rule
Example:
$100K Desired Retirement Income
$50K Fixed Income
$50K Income Shortfall
$50K Divided by 4% = $ 1,250,000

This method takes into account fixed income sources and is more scientific than other methods. The problems with the 4% rule are that it doesn't apply if you haven't saved, it is dependent on life expectancy, and depends heavily on growth rate.

FACTORS TO CONSIDER
– When Do I Want to Retire?
– How much do I spend now and how will that change in retirement?
– What variables could change everything? (Unexpected illness, the Premature death of a spouse, Divorce, Bear market, etc.)

If you would like to schedule a free assessment with one of our CFP® professionals, visit:

Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.”

Channels & show times: yourmoneyyourwealth.com

IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

RETIRING on $300 a month CHEAP Living : Lo de Marcos Jalisco Mexico

Retiring on $300 a month Lo de Marcos Jalisco Mexico Cheap Living.

You could retire now, for as little as $300 per month in Lo de Marcos Jalisco, Mexico 2018? Of course, that means cutting back living Cheap Living on most luxuries and living a relatively simple Retirement lifestyle.

Important warning we DO NOT recommend any Real estate Company in Lo de Marcos.

Expats Retirement in Mexico Goes a lot further.

Retirement Planning Before You actually retires Will allow you to have more money And give you A better quality of life. Retirement planning is so important Before you actually do retire.

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In Lo de Marcos, you will feel the essence of a true Mexican town. Wide, calm streets, colorful flowering trees and brilliantly painted façades accompany patient fishermen as they weave their nets, which they will later throw into the sea located at the end of the paved walkway.
“It is a small paradise on Earth,” expresses one of the inhabitants of this corner of the Riviera Nayarit. Here, hotels and villas of the purest Mexican style will welcome you with open arms.
Lo de Marcos is a town with a remodeled gazebo in the downtown and small businesses and restaurants with delicious homemade food and friendly service.

We suggest That youTravel in Mexico Before you decide Where you want to Set up You're Retirement lifestyle.

Some people like the Higher elevations like San Miguel And some people like the beaches Like Mazatlan, And some people like Chapala

Sayulita was "discovered" by roving surfers in the late 1960s with the construction of Mexican Highway 200. Today, Sayulita is a prosperous growing village of approximately 6,000 residents. Hailed as a popular off-the-beaten-path travel destination,

San Pancho Culture San Pancho, as the village of San Francisco, Mexico is affectionately known, has preserved its rural essence and the authenticity of a picturesque Mexican town. Here one can still enjoy the serenity and the principles of old Mexico; where people take the time to chat rather than rushing to do business. Just an hour’s drive north of Puerto Vallarta airport but a world apart, San Pancho sits peacefully upon a wide palm-fringed golden beach wrapped in a lush cloak of the verdant jungle. Quiet cobblestone streets provide visitors and residents a safe haven in which to wander and discover the town, with delightful restaurants close at hand to enjoy a delicious refreshment.

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Mexico: What does it cost to rent a house in Lake Chapala Mexico?

Mexico my favorite artist Village

Retirement and how to choose a retirement lifestyle

Mexico Vacation Travel Guide

Mexico Travel: Is It Safe To Travel in Mexico?

Day of the dead Mexico Jerry Brown travels

Mexico Guadalajara travel Guide

Retire early how much money do I need

AJIJIC Mexico outdoor open market

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SIMPLE retirement plans can help small business owners — American Funds

If you’re a small-business owner, you’re probably already investing in your retirement. But did you know that your small business can help with your retirement savings even more? A company retirement plan provides value to employees and business owners. Not only can these plans help you attract and retain quality employees, you can also invest more for your future while reducing your current taxable income. A SIMPLE IRA allows small business employees to save more toward retirement on a tax-deferred basis than they could on their own. To learn more, watch this informative video about Savings Incentive Match Plans for Employees (SIMPLE) IRAs.

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Securities offered through American Funds Distributors, Inc.

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How to invest for retirement in your 40’s.

We are a wealth management firm that specializes in improving on the traditional buy and hold approach. To use a simple analogy, we do this by treating ones retirement investments as if they were real estate.

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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.

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Make Your Money Last: The Top 5 Retirement Planning Myths

Worried about having enough money in retirement? Thinking of working a few more years just to be sure? Financial planning for retirement is more complex than ever. It’s no longer just about saving enough to get to retirement; it’s also about making sure your money lasts through your retirement years.

Don’t risk outliving your money by adhering to the old ideas of retirement planning. Learn why many of the traditional approaches to retirement planning no longer apply, how to avoid the risk of outliving your money, and key steps you can take to ensure your money lasts as long as you do.

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The 10 Best Cities to Retire in the US

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The 10 Best Cities to Retire in the US.

Choosing where to retire in the US can be very overwhelming – so many great options and factors to consider! Regardless of whether you’re seeking an action-packed retirement or looking instead for a peaceful escape from hectic city life, you’ll find here the 10 best cities to retire in the US.
1. Prescott, Arizona
2. Venice, Florida
3. St. Augustine, Florida
4. Beaufort, South Carolina
5. Myrtle Beach, South Carolina
6. Abilene, Texas
7. Austin, Texas
8. Boise, Idaho
9. Palm Springs, California
10. Salt Lake City, Utah
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Best and worst states to retire in the United States

We spend most of our lives working and planning for retirement. When it’s finally time to retire, finding the right place to live is key. WalletHub ranked the 50 states and Washington, DC. in order of best and worst places to retire. Analysts compared the states based on affordability, quality of life and health care. Within those three main categories, there were 31 additional metrics to rank the states.

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Current State of Deferred Income Annuity Products

In this practical video, Curtis Cloke discusses the deferred income annuity market today. He reviews product developments and discusses the types of returns that are available today based on current interest rates and mortality tables.

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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Retirement Plans: Last Week Tonight with John Oliver (HBO)

Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.

Connect with Last Week Tonight online…
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5 Best Places to Retire in Florida | Retirement Planning

5 Best Places to Retire in Florida | Retirement Planning
Florida’s population swells by more than 1,000 people every day, many of them retirees relocating for the second halves of their lives. And it’s easy to see why: Even in the coldest months of the year, the average daily high is at least 70 degrees, and the temperature rarely dips below 50.
Florida is also one of the most tax-friendly states in the country for retirees. There is no state income tax, and permanent residents are eligible for a homestead exemption of up to $50,000. Seniors may qualify for an additional exemption.
But Florida is a big state, with diverse options on both coasts — or inland, if hurricanes or rising sea levels strike too much fear in your heart. (Generally, the hurricane risk on Florida’s west coast is less than on the east coast.) We’ve rounded up five great Florida retirement destinations that are affordable and offer access to top healthcare systems. Take a look.

Please leave your comments or feel free to discuss in the comments section. Your feedback will be appreciated. Thanks for watching!!
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Top 10 Places to Retire in Asia

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Top 10 Places to Retire in Asia.

Offering everything from lush, tropical rain forests to bustling mega-cities, Asia is one of the world’s most varied and interesting places to retire. With an increasing number of Western retirees seeking an ‘escape’ from the fast-paced life that they are used to, and Asia offering a cultural experience that’s second-to-none, the number of retirees seeking peace, comfort, and financial security in Asia has continued to increase.
But it’s not just peace and quiet that retirees are searching for in Asia – it’s a fun and interesting life. While Western cities offer a great deal of economic opportunity, they can often feel somewhat stale and lacking in culture. In contrast, many of Asia’s top cities feel full of life and interesting opportunities to be found.
Likewise, Asia’s beach destinations, small towns, and rural settings can offer the perfect picturesque setting for a retiree. From beautiful scenery to truly stunning natural surroundings, many of Asia’s best locations are undiscovered secrets when compared to their counterparts back home.
These ten locations offer a great mix of modern conveniences, creature comforts, an affordable cost of living, and a unique look on life. From mega-cities to small towns, these top ten places to retire in Asia should be at the top of your list when you’re on the look for a great place to retire.
1. Phuket, Thailand
2. Penang, Malaysia
3. Singapore
4. Sapporo, Japan
5. Huahin, Thailand
6. Nhatrang, Vietnam
7. Taipei, Taiwan
8. Sai Kung, Hong Kong
9. Chiang Mai, Thailand
10. Kuala Lumpur, Malaysia
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10 Best Places To Retire In The World

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10 Best Places To Retire In The World.
Any list of the 10 best places to retire in the world has to be subjective. You could think that Croatia is one of the 10 best places to retire in the world and your neighbor might think you’re nuts. Croatia? Aren’t they having a war of some kind over there?
However, if you apply factors such as the cost of living, the climate, housing, taxes, health care, and recreation, it’s possible to come up with a list of the 10 best places to retire in the world that is reasonably valid.
1: Panama
2: Ecuador
3: Thailand
4: Argentina
5: Belize
6: Mexico
7: Costa Rica
8: Nicaragua
9: Florida
10: North Carolina
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Buyer’s Guide: Annuities