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.

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Can You Retire On A Million Dollars?

A million dollars isn't what it used to be. Can you retire on one million dollars today?

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Did you know the word millionaire was first coined just 14 years before the United States even became an independent country? It was the year 1762 when we called the rich, “millionaires”. But can you retire on a Million Dollars?, that’s a question that’s I think on everyone’s mind at some point in life and it's important to understand in the context of investing and passive income.

If we assume an average income here in the United States of $50,000 a year, working for 40 years starting at the age of 22, and retiring at age 62, the average person will then go on to make around $2,000,000 in his or her lifetime. Obviously we don’t get to keep that whole 2 million, after taxes, we’d keep around $1,691,800 which assumes a best case scenario of no states income taxes if you live in states like Alaska, Florida, Nevada, South Dakota, New Hampshire, Tennessee, Texas, Washington, or Wyoming.

If we then take the average savings rate in the United States, which is an embarrassingly low 7.6%, in 40 years, most people will end up saving around $128,576.80 of that 2 million, which seems really low (because it is)

Despite what mainstream media tells us, retiring on a million dollars is very possible, and you can live comfortably without ever running out of money for all eternity and it’s not some magic trick, it’s pure simple math.

First, it is true that one million dollars does not have the same purchasing power as it did in 1980. To be able to afford the same amount of stuff with one million dollars today as you did in 1980, you’d need around 3.3 million dollars. So it’s true, as time goes on, inflation makes our money less and less valuable.

For every dollar in your bank account, it’s worth around 2 pennies less every single year because we’re printing money. With what’s going on today with the economy and because we’ve had to print so much more, inflation can reach as high as 5% or 5 pennies for every dollar that you’d be losing every year. So that’s definitely an issue but not as much as you may think.

In fact, not only can you retire on a million dollars in your 60s, but theoretically, you can retire on a million dollars at any age, and never run out of money.

It was a research paper published from Trinity University by three professors. What the trinity study measured, was the success rates of investment portfolios that had different withdrawal rates in retirement for different time periods throughout history between the years 1926 to 1995, which was later expanded to 2009.

This time period spanned the 2 world wars, the Great Depression of the 1929, high inflation period of 1970s, and the booming 1980s. So this simulation covered a lot of ground. They ran this simulation with 5 different portfolio diversities, 100% stocks, which is what I have with Robinhood, 75% stocks 25% bonds, 50% stocks 50% bonds, 25% stocks 75% bonds, and 100% bonds. They also researched the lengths for 15 years, 20 years, 25 years, and 30 year rolling periods.

The Trinity Study found that 4% was the magic number. If you retired in your 60s and you withdrew 4%, out of all the simulations that they ran, there was a 100% success rate that your money would outlast you in retirement. So in the case of our hypothetical example of one million dollars, 4% of a million would be exactly $40,000 per year. If you withdraw $40,000 per year, starting at retirement age, there’s a 100% chance your money will outlast you in all the economic simulations.

But there's a catch, If you increase the amount of years you want to be retiree, then your chances of success will decrease. If you want to be retired for 50 years and withdraw 4% per year, the chance of success drops down to 90%.

To compensate for that, a safer rate is using a 3.5%, doing this, increases the odds back to 98% success rate (assuming a 100% stock portfolio). In fact, if you withdraw 3.5%, your "terminal amount" (the amount you're left with after retirement), would multiply 6 times. That's because compound interest grows your money faster than you can spend it.

*Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

First Trade | Experts suggests good opportunity in reinvesting in market in current slowdown

Experts suggests good opportunity in reinvesting in market in current slowdown. Watch complete news story of First Trade and stay updated with the latest trends and statistics in the stock market, commodity market and share market!

Zee Business is one of the leading and fastest growing Hindi business news channels in India. The channel has revolutionized business news by its innovative programming and path-breaking strategy of making business news a 24/7 activity as it is not just limited to the stock market. This has made Zee Business your channel to wealth and profit.

Besides updated hourly news bulletins, there is a lot to watch out for, whether it be stock market related detailed information, investments, mutual funds, corporate, real estate, travel or leisure. The channel has the most diverse programming portfolio which has positioned it as a channel of choice amongst viewers. By speaking a language of the masses, Zee Business is today the most preferred for business news.

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Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

Should You Sell All of Your Stocks – Dow Drops 1000 Points

Is the bull market over? Should you sell everything? DOW plunges 1000 points in a single day.

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I don’t want to say I told you so but If you have been a follower of mine for a while now you KNOW that I have been predicting the market to pull back pretty heavily. It doesn’t matter if it’s the election, China trade war, corona virus, or anything else. Markets do not trade like this for long. No matter what it would have been, we would have seen a pullback.

And we needed this. 1. If we want to continue this bull market, we need to see a pullback. This is great because nobody who knows anything about the markets wants to buy anything here.

Everybody knows that almost any stock at this point is overpriced.

2. This is important and great overall because it will teach new people who are investing and trading that what we have seen for the past year or more IS NOT NORMAL. Rarely can you ever just throw money into any position and make HUGE returns.

I do think that this pullback, especially if it continues will shake out a ton of new investors. Especially the “millennial” ones who have come in within the past year with brokers such as robin hood, M1 and webull who will be worried.

I am here today to say that this is normal…. Well SPY pulling back almost 4% in a day is not normal. Being neither is SPY going up 24% in 14 months.

What is normal is market fluctuations. I just made an entire course going over the book “trading for a living” and one thing I talk about is “the dog and the man” reference. Watch this now.

QUITE THE PREDICTION I MADE MIND YOU I RELEASED THIS COURSE AND MADE THAT VIDEO FRIDAY.

Now, I know it was just by chance, but the point is that THIS WILL ALWAYS HAPPEN. IT will happen with TSLA, with will happen with SPCE, it just happened with SPY. Markets will correct themselves

Because charts and stock prices are just what the world thinks it’s worth… then have times when something happens and people realized “oh, this is SOOO overpriced.” Or a keen investor says, “oh this is underpriced.” And starts buying up shares.

This is not new and everyone who is investing should have been ready for this. THE FIRST VIDEO I MADE ON THIS CHANNEL WAS ABOUT THIS EXACT TOPIC.

Now personally I think that the chances for a recession are still pretty low and no one should be running for the hills just yet.

While elections, the virus, and possible trade news can affect the market short term out economy is still looking good. Yes, we are growing at a slower rate but overall, I still think this is just a slight correction.

Yes, I could be wrong and fi this virus gets way out of hand and the economy starts to take a serious hit due to companies having factories shut down for extended periods of time then yes…. We could have a HUGE problem on our hands.

To finish this video out I am not here to single out anyone who just got into the market and is worried. I want to see you all succeed and I don’t want to see you guys run for the hills and give up trading and investing if we pull back 40% or something crazy. These things happen. This is a long-term game. Don’t let the short term ruin your future.

How To Invest $1,000 in 2018/2019

Today we discuss how to Invest $1,000 in 2018 and 2019. This video should help anyone who wants to invest their money in 2019. We will cover real estate investing, stock market investing, investing in yourself as well as others. Enjoy!
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