5 Signs You’re Over-Saving for Retirement

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Information 5 Signs You’re Over-Saving for Retirement

Title	:	5 Signs You’re Over-Saving for Retirement
Lasting	:	13.32
Date of publication	:
Views	:	242 rb

What’s your savings percentage? Let me know by leaving a comment! 🫡
Comment from : @humphrey

No such thing exists
Comment from : @jollama

I finally realized i am oversaving after calculating my monthly retirement income at age 60 would be 15K
Comment from : @ChitChatBFF

The key to retiring comfortably, which many people overlook, is figuring out how to generate consistent returns while letting your money grow passively My dad, for instance, started saving for retirement later than most, but I recall he was earning over $30k in monthly passive income from his investments
Comment from : @lacreshahicks

While its not quite a good financial tip as much as it a safety one involving money, my coworker made a very good point about going to work in inclimate weather Basically if the roads are white he calls in Reason being he doesnt make his auto insurance deductible in a days work While I think its a very agressive motive, he isnt wrong He skids into a tree and he loses money, not including potential injuries, in which case would strain his medical insurance deductible
Comment from : @james2042

Bro predicted the California fires
Comment from : @br84268

That comment about fire insurance in California, and this video came out 5 months ago—clearly a good example of an area not an area to be frugal on!
Comment from : @annewright3486

Making money is not nearly as vital as protecting your cash Basically, since it is far more difficult to make money if you lose your capital "Missing the train" as opposed to "losing your money" There are several trains, but it's over if you lose your money
Comment from : @OyunBabus-e4k

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
Comment from : @Romankhramov991

Resonated, yes! Informative, easy to understand and thanks for all the hard work you put into each video 😭 Best channel!
Comment from : @CelesteMSun

Hopefully the fire insurance people listened
Comment from : @matthewj9832

You should talk about the people after the Great Depression who did things like saving the water from a shower for plants
Comment from : @matthewj9832

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
Comment from : @cesarmurph

Does "saving" mean net worth here?
Comment from : @Neuroscientist_Avi

I make 140k and can buy a $300k house every four years
Comment from : @tonyt8807

Kinda guilty of this!
Comment from : @peachie_7127

The fire insurance comment😭
Comment from : @matthewwong7625

What's the name of this specific retirement calculator you used in Sign #3?
Comment from : @JF997

Many thanks, Humphrey! I've known for a while that since I have a pension I'm waaaay over-saving for retirement Your logic and reason helped shock me back into coherence 🙏
Comment from : @Harry_16710

This topic is tough for me to live outat my current savings/investment rate, I'll be making 800k/yr in retirementI currently live on 30 of what I make, cue people saying "You can't take it with you" But if I go buy a supercar (something I really want), I'm just some "broke" guy "acting" wealthypeople have something negative to say regardless brbrFor me, as long as my passive income can sustain my lifestyle, I'm good However, if I want to increase my lifestyle, it needs to be sustainable first
Comment from : @joeb734

I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement Contemplating investing $400K in stocks, as I've heard investors can profit in tough times Unsure about my next move
Comment from : @nicolasbenson009

As long as i could put 40 to 50 of my paycheck to savings and investments a month, I could do whatever I want with my remaining money, travel, food, anything, dont wait till you are 70s to start enjoying your money
Comment from : @aldan590

I have a high school friend in his 50s now He makes 6 figure as a teacher now for 30 years Refuses to spend $80 for one green fee for one round of golf for the season When he makes twice what I make Brutal, we can't spend time together because he's to frugal Farewell
Comment from : @Jimbo3242

Bro the fire insurance part of this video, today Is crazy
Comment from : @allenjones6713

12:55 Crazy that you mentioned fire insurance in California
Comment from : @ryanchoi2415

Which keyboard and keycaps is that?
Comment from : @Liljoozy

Wife and I just turned 36 We have a net worth around $13M I still feel behind and I know we are eons ahead of most With what we're doing, we will have the ability to live off 600 of our current income, yet I still worry more than I should The mental gymnastics is fun 🤣
Comment from : @sholtan2288

Love this message keep up the good work
Comment from : @jamesburk891

mazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money I started investing with $120k and in the first 2 months , my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and gets more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @AlexHunte98

the first voting bracket was 0-10 and the first thing he said was "the majority of you have at least a 10 savings rate" based on what data? what if that 21 is saving 0? there was no option between 0 and 10 to differentiate enough to make that statement lmao
Comment from : @SalweyGaming

I'm in the 50-75 However, this is for two reasons: I work as an engineer, so my costs are proportionally lower, and I live at home with family I am still saving for a house or condo, so I have no reason to move out yet
Comment from : @TheDriftingStig

29, so far doing 5 with matching from 401K & maxing out Roth IRA for 2 years now
Comment from : @roco9504

Love the weezer concert pic, I just discovered you , great stuff I currently contribute 25 to work 401, slowly creeped it up every quarter and realized I didn't notice it in my budget
Comment from : @MTPLawnService-tt5eo

Not sure how you are calculating this? Is it as a percentage of GROSS income? If that is the case, my wife and I saved roughly 40 of our gross income for 30 years and retired over a year ago at 54 Yes, we will probably die with plenty of money left but at least we won't have to worry about falling short!
Comment from : @GrnXnham

This video was a wake up call I have millions in the bank and don't really enjoy any of it Time to make a change
Comment from : @dant6067

Your video in sum: don’t be a cheap ass in life
Comment from : @alex124241

The 4 percent rule doesn’t take into account the you only live once rule
Comment from : @alex124241

Whom should ypu calculate the percentage? Net income or gross income?
Comment from : @MINATOYELLOWFLSH2005

You can always retire younger if you don't get married Most women are gold diggers and getting a divorce is a great business for women They initiate over 85 of divorces in the US because they are coached that they can make so much money by getting a divorce and collecting a heavy child support and alimony bag💰💰💰til the children are 18 yrs old
Comment from : @whatsup24_7

i am super saver and yet I feel 'novelty' every moment of my life The key is - to feel happiness from simple acts of kindness
Comment from : @lordabhikingfisher8087

I have a 401k and a dividend stock portfolio, but I also have fun money
Comment from : @user-bm6wu9zw9m

Im 62 and have saved 135 x my salary for retirement (403B and Roth) I am saving 32 of my salary for retirement Can I take my foot off the gas a bit??
Comment from : @crimsonpearl4686

I saved 35 now retired at 61 in good shapebrbrDivorced helped me get a perfect retirement situation while the Ex is struggling and nay never retire 😅
Comment from : @steves3234

YOUR CHANEL IS FULL OF SCAM ARTISTS!!!!!
Comment from : @elliotoliver8679

Curious what people think they will do with all their money when they are over 75? I plan to spend 80 of my retirement from 60 to 75 Do you end up just saving all the money to pay medical bills?
Comment from : @Socalgixxer600

Turns out I'm poor and not over saving
Comment from : @GrandNoble

I make $80,000 a year and I put $40,000 away each year It helps to have my house and car paid off But yes, I think I am over-saving :(
Comment from : @Quixote1818

This is such a joke
Comment from : @raulsanches3619

My parents have the exact mindset since they also didn’t grew up rich, so they save a lot of money for our education, which I’m eternally grateful for brbrNow I have a job, savings, and I’m giving them monthly allowances on top of their current jobs, but it’s so difficult to get them to use that money to spend on new things, like trying a new hobby, or going overseas…
Comment from : @damnfreakingsien

Just took a closer look at the photo Is that Brian Jung in there?
Comment from : @cryptoforcanadians

As a soon retiree, keeping my 401k on course after a rocky 2024 is top priority I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated
Comment from : @LesterHess-t1x

Wow - this is ME in a nutshell lol
Comment from : @kat9587

Here’s the only financial advice you need: dont ask for advice in youtube comments to fix your portfolio Fidelity, Schwab , Edward jones, Etrade, Vanguard (just what comes to mind) will all give you financial advice Dont trust strangers🙄
Comment from : @DenverPicker

How would driving out of your way save you money?
Comment from : @Dad_of_War

Do you feel that VUSXX is as safe as HYSA for an emergency fund?
Comment from : @Steve_SEC

Luckily i'm perfectly content by just sitting on my pc playing some games I do go out to meet friends and because my partner wants to experience stuff like concerts, movies and holidays, but on my own, i'm perfectly happy with just that brHowever i ve blown my first 100k and am back at 0 at 34, so i better be Otherwise i'd have to work till 90
Comment from : @RaxXxvell

Ideal: stop saving like crazy when the growth of your wealth is outpacing your cost of living
Comment from : @tlow5766

Yeah for once a comparaison video that tries to make you feel like you accomplished something But still we know comparaison is the thief of joy
Comment from : @pyroll4119

Looool ‘you guys are nuts’ hahaha
Comment from : @ilivace

I've developed a frugal mindset My biggest blocker to spending is that most things aren't worth the expense Not just non-asset purchases, but basic products and services aren't delivering on their promised valuebrbrI keep the same 20 year old appliances as they just keep on going and only ever need minor repairs that I can perform myself I just replaced the ice maker in my 20 year old fridge with parts from the surplus market Total cost $35 New internet-enabled fridge $2-3000 Not going to spend that money for something that does not last
Comment from : @shobley

Is there a link to the Fidelity calculator that you referenced in the video?
Comment from : @msl4567

25 tip on top of inflated restaurant costs isn’t worth going out Learn to cook, make it an activity which brings you closer to your partner
Comment from : @nathanyork2358

Some of us save 50 percent because we have little
Comment from : @kindpanda1075

I'm definitely not doing this
Comment from : @SimonSprague-e8f

I’ve been saving for a long time instead of investing, and right now I only have about $516k I'm not sure how to make it grow, considering all the inflation, into something substantial that I might use for retirement I’m just here for ideas
Comment from : @RobbStonee

Link to savings rate tool?
Comment from : @Jay_dey

You should enlist a professional team to get rid of the bot spam in your comment section, at this point its barely human!
Comment from : @shashankshekhar2611

I feel like I might be putting too much aside for retirement I want to be secure, but I also want to start making more of my money work for me now Do you think it’s worth changing my strategy
Comment from : @SophieDubois-m8d

"if everyone saves all their money, the billionaires that run the country and live off our overspending culture don't get paid"
Comment from : @williamjones1419

How do I calculate my financial independence number if alot of my retirement is based off of a pension from work?
Comment from : @sgtsaveahoe9386

I usually look up your videos for updates! Our government has no idea how people are suffering these days I feel for people with disabilities not getting the help they deserve Thank you Mrs Emily L Romano, imagine investing $12,000 and received $305,500
Comment from : @AdamNicholas-3d

I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement Contemplating investing $200K in stocks, as I've heard investors can profit in tough times Unsure about my next move
Comment from : @JosephAlecW

In the graph you showed for the suggested saving rate per age (like 3X your salary for age of 40), does it include the equity in your house ?
Comment from : @roihaskel

Does that 4 include that taxes you'll have to pay?
Comment from : @AxGryndr

I recently sold my spare tire Its worth the risk
Comment from : @chrisniner8772

Thanks for this video I'm 30 with an average midwest corporate salary and feel very guilty when I do literally anything "extra" Days/months blending together feels way too real
Comment from : @laronthelion8561

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @MathewOliver486

The Fidelity 10X your household income is too much, and I will actually meet that goal The issue is when you save a large amount of money, you don't need to continue to save that money for retirement in retirement
Comment from : @danielhurst8863

Mine is likely 26-30
Comment from : @johnfrancis7003

you are the first youtuber I subscribed to based on ONE video, this video!
Comment from : @ybc8495

frugal is toxic! even when you have high Ms
Comment from : @ybc8495

11x @ 48 I started shifting already to consumption I can't take it with me Plus I already qualify for a pension any day now poof
Comment from : @gaurd3

Great video We are all seeking for financial independence and a better way of life This is not difficult to achieve with savvy investing, a frugal lifestyle, and cautious budgeting I'm glad I learned early on to work hard for financial independence My spouse and i never earned more than a middle class salary We plan to get retired at 58 with a stock portfolio worth $17M We have never sold so much as one share of stock
Comment from : @BenMaclung

6:40 fidelity timeline is pretty dumb At 40, if you make 100k, you should have at least 6x saved, and more like 9x I was 10x at 40 given these variables It can be done
Comment from : @holdencawffle626

You are presuming we all are still married or in a relationship Way too much talk about our "partners" This could be relevant to single people if redone
Comment from : @9999deoxys