How Do I Know When I Have Enough Money to Retire?

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Title	:	How Do I Know When I Have Enough Money to Retire?
Lasting	:	5.31
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Views	:	830 rb

Saving 15 to age SEVENTY?? Why would he suggest working until 70? This is way too generic advice -- most people do or need to retire long before 70 Plus, he's always talking about assuming WAY too high of interest and I'm afraid people are counting on that--I fell for it for about six months it was a happy time, but not realistic
Comment from : @tmusa2002

My wife and I are 29 We’ve got over $130k in our Roth IRA’s plus I’m giving to a Roth 457 I’m also going to get a pension at 54 covering 60 of my top three years of pay Really hoping for a great retirement!
Comment from : @zackfrancisco5202

What the hell am I gonna do at age 70 besides doctor visits and watch grandkids Work your whole life for what?
Comment from : @jayb8460

8 is insane for most people - unless you retire at 80 :)
Comment from : @tshinder

Wow So many scammers in the comment section
Comment from : @randymarsh9935

Dave telling people they can live off of 8-10 of a portfolio is insane? Does this man not know about sequence of return risk etc? He has good advice on saving But his investing / withdrawal advice is total crapYou draw 10 on whatever portfolio you have and it won't last you 10 years in many scenarios
Comment from : @nicstevens6499

Amazing 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 : @BotheGhita

I have about 900k in assets House and car are paid off, Max social security Can I retire?
Comment from : @StormyTuesday5108

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 : @AlexHunte98

Dave please don't retire
Comment from : @kingdomdaughter7066

As we witness the current economic landscape, it's becoming increasingly clear that we're entering a recession Diversification can mitigate risk and increase the chance of success
Comment from : @MarcelinaMakowski

Gambling $3 MILLION in the market OOOOOoooooooo 😮
Comment from : @kriskringle3164

Most people don’t get to choose when they retire Either your body gives out or your company retires you when they are ready Best bet is to have enough saved and invested by your mid 50’s $3 million for a married couple in 2024 dollars is a good number to achieve
Comment from : @editorcj

I'm calling BS big time ! I have a paid off house, $30K in credit cards with a zero balance, $70K working in CD's, and I live like a king on $1450 a month in social security I eat meat every day, drive a car, pay all insurances, and STILL put money in the bank !
Comment from : @WoodsongEntertainment

The markets are looking favorable, after so much deliberation with my wife, I feel this is a good time to invest a lump sum of $700k ahead of retirement What stock should I Look into to safely grow my money?
Comment from : @MaximilianFischer497

As a soon retiree, keeping my 401k on course is my top priority I have been reading of investors 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 : @WaldronsSousas

10 can be pretty high risk when retired
Comment from : @sebastiaanthijn7982

The concept of mini-retirement changed my life I'm no longer waiting for some retirement paradise when I'm 65 It helps to know how to fund the lifestyle You know, making money while you sip that piña colada by the beach does help I wouldn't have been able to do it otherwise
Comment from : @nicolasbenson009

Currently, many retired Americans don't have much money in retirement accounts Social Security is the largest source of income for most retirees In fact, 58 of retired Americans say Social Security is a major source of their retirement income, which is higher than pension plans (34) and 401(k) and retirement plans (29)
Comment from : @MortezaNurcheshmeh

My original retirement plan was to retire at 62, work part-time, and save money However, high prices for everything have severely affected my plan I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before
Comment from : @NicholasBall130

2:05 8 Million saving 9,000 a year ? That was on planet Mars 😂
Comment from : @hugohabicht9957

I retired at age 53, so I am in my early 60s Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary I considered the phases of my life I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses" In my instance, I departed the nation after retiring and currently reside in Latin America It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America Nobody that I know of regrets retiring has yet to come to me
Comment from : @Kattyol1

This other guy sounds like a tv ad
Comment from : @gonnahavemesomefun

Stupid question What format do you leave “the goose” in as an inheritance? Like how do you actually pass it down and what can the beneficiary do with it?
Comment from : @paulmorang8340

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 : @caseycantrell-gh6fg

PLEASE do NOT listen to Dave on retirement! This man is GREAT at getting out of debt but unfortunately knows nothing about living and enjoying the fruits of your labor He tells the person in this video to save 4-8 million and work until age 70 Holy cow is that incredibly stupid! I am sorry I like Dave but please do not listen to this nonsense 98 of people can retire with far less than 1 million and thoroughly enjoy those remaining years By 70 you are almost certainly losing your health and will NOT be able to do what you want to do ! PLEASE listen to Dave for debt and general finance advice which is probably some of the best advice there is Please do NOT listen to Dave about retirement when, how much etc
Comment from : @JC-21470

You are asking this guy to save 15 from 30 to 70 ??? Some people die before 70 !! You ASS sume he will make 10 every year on average for 40 years?!? 😂 💩💩💩 So when he hits 70 he can get cancer and die and have done NOTHING IN HIS LIFE!! Smh 😂
Comment from : @tlozzi

10 can be pretty high risk when retired
Comment from : @kevins5268

So how can you get a 10 return to love off of???????brAll advisors have told me 5 or you will end up cracking the egg?
Comment from : @tdp-sir

Thanks!
Comment from : @clarkesanders5977

Blast from the past Remember this guy before he was caught cheating on his wife and let go? Dave said he was a "stallion" out there spreading some wild oats, lol!
Comment from : @Excalibur2

10 why not doing 15
Comment from : @ming3839

A Financial Planner told me Saving at least 15 of your income in a 401(k) can help ensure that you have enough money to retire comfortably How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
Comment from : @ChristopherAbelman

Retirement is no longer simply a time to enjoy life For the middle class, it often means finding ways to make ends meet, possibly through investing in stocks But when is the right time to invest? Some argue it can be highly profitable, while others caution against the risks What do you recommend?
Comment from : @HectorSnipes

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 : @GeorgestraitStriat

We had invested money through Cynthia Depken for nearly 8 years The market had its ups and downs, but in the long run it did very well for us With my pension, social security and the investments we are able to live comfortably We are now able to fully enjoy our hobbies, travel, family and making new acquaintances
Comment from : @DE-Burrows

This is really ridiculous - Folks calling in "concerned that millions of dollars" isn't enough to retire on Upload videos showing AVERAGE AMERICAN PROBLEMS - like "I'm 55 years old and I have $75,000 in my 401K - what should I do different for the next 10 years so I can retire?"
Comment from : @flippindocks8183

If you save 15 of your household income of 60K from age 30 to 70 you would not have 8 million unless you returned over 12 Not realistic more likely you end up with about 25 - 35 million And this doesn't really look at inflation
Comment from : @delawariand9860

8 ?
Comment from : @rosemalibu6477

Couldn’t you also just save up to 25x your annual expenses to determine when you don’t need earned income anymore? (Based on 4 rule)
Comment from : @customersupport-v9h

The gvt will love your 401k/IRA when it costs you 20 on withdrawal for taxes for federal Depending on your state, it can be 20 or higher,depending in how high your income is That's for people over 595 If younger you get penalized!brbrWhat a crock of crap! I bit the green apple like the rest of usbrbrOh and btw you have to fully deplete the account or get 80 penalized!
Comment from : @mdevorah6833

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 : @Susanhartman

I think the people that should be worried are those of us who may be retiring with way less than a million because we started late I have only 350k in my Roth and I'm 53 Is there a way I could grow it fast?
Comment from : @ericmendels

Most people don't realize it, but the secret to a comfortable retirement is earning returns while your money works for you My dad started saving late but made over $10k monthly in passive investment returns
Comment from : @albacus2400BC

THIS IS PROVIDED YOUR NOT LIBING IN BIDENLAND
Comment from : @BigPoppa-t3z

Dave ramsy’s voice never sounded so feminine
Comment from : @TheMansour1

Dave is assuming that you will earn an 12 a year for 40 years If he is half wrong and you earn 6 you will have 15 million He also isn't taking into account inflation If inflation averages 25 a year, which is low, the $15mm will only be worth $560k You should definitely save for retirement and if you average 8 you should have $26mm which in 40 years will probably be worth about $900k in todays dollars assuming 3 inflation You won't have $8 million, but you will be ok
Comment from : @al1203

Be careful their tool doesn’t actually work… if I adjust my withdrawal higher it says I need a smaller amount overall That’s definitely incorrect Please do further research beyond their tool
Comment from : @astrahl

I want to invest roughly $70,000 in stocks since I've heard that even in challenging times, investors may turn a profit which could help me to gain financial stability during retirement Any excellent ideas for stock?
Comment from : @hillaryrowland1

Rather than attempting to predict future recessions and risking financial losses, a more effective strategy is to build a well-diversified portfolio that can withstand various market conditions This approach has allowed some individuals to consistently generate substantial returns, averaging around 150K every quarter as reported by Bloomberg
Comment from : @Madlyn55

Might not even need a car just an electric bike and uber if you really have toi think people can get creative and retire with less ideally you want that 1 million in the ira and no debt the facta are Only 85will have that maybe more so in future with pay increases obviously 1 million in ira will have to be adjusted for inflation in 2045
Comment from : @DeportillegalAliens

The fact is 85 wont be in great position in retirement,how about spend less and be out of debt at 60? Maybe you still have some home debt maybe if possible sell that home and use equity to get a paid off homemake sure you have security fund and retire 62 just do it!
Comment from : @DeportillegalAliens

@2:39, planning for an 7-8 draw from your principal in retirement is completely misguided Look up monte carlo simulators and plug in the numbers, save is 4 draw down That means even if you make 10 in a year, you only take 4, because another year you will be down, so if you took the 8 the year before, you are way over budget
Comment from : @lbruegge

investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>>>
Comment from : @AudraZapoticky55

Every time Dave says mutual fund my eyeballs bleed
Comment from : @jagleaso

I have to retire at 70 when the average human lives to be what? 77?
Comment from : @jaybartgis5148

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 : @usDewitt

Chris has an awesome voice for radio Deep and clear
Comment from : @melrosehawkins8294

You never have enough money to retire I am of full retirement age and I am retired and collecting SS I still work about 30 hrs/week and I bank my SS payments
Comment from : @bobdadruma

Wow good to see Chris I still have the coin he gave me! 👍👍
Comment from : @July41776

Just take your core money from boring Mutual funds and put them into TSLY, QQQY, JEPY and IWMY Around 40 to 60 percent div each month and you never touch the principle Problem with the 4 percent method is that you could run out of money some day, this would last you forever These funds are legit!
Comment from : @robertsmith6408

How is he predicting 8M after 40 years of investing 9k/y ?
Comment from : @jamieknight2139

I'm 48, sad to say I made terrible money decisions growing up which I'm presently paying for, been dedicating every waking hours towards my retirement and I'd really love to retire to Portugal with atleast $3million by, the market up and down is not helping at all
Comment from : @olegsacha9695

But what’s important is inflation and what 300k is worth in 30 years
Comment from : @jackmengel233

@1 min 40 seconds approxbrAverage income is 60kbrSave 15 in a mutual fundbrFrom age 30 to 70brYour fund will be worth about 8 millionbrWould love somebody with financial knowledge to explain to me, I'm not very financially literate Tbh, how this can be achieved, any and all responses welcomebrThank you
Comment from : @KeepWalkingRoadman

17Sept2023br10 ROI !???? NICE FANTASY LAND!???? brSave 15!???? (GAS ALMOST $6 gallon)brWelcome to LA LA LAND
Comment from : @tonybranson7916

I have been retired for five years now Although I've been adhering to the 4 rule, things are challenging as I did not anticipated I have another $460K to put into st0cks How can I profit from the market's resurgence
Comment from : @AgueroBankz

100 a month -> 8 million? Can someone explain this Is this merely in 401k/RothIRA savings?
Comment from : @The-Dirty-Straw

Please do not take Dave’s advice on withdrawal rates
Comment from : @Bobventk

I started stacking to SAVE wealth I've always been the type of person to spend my entire paycheck I hate having money just sit in the bank I am under pressure to grow my reserve of $950k before I turn 60, I would appreciate any advice on potential investments
Comment from : @OttoLane-j9z

what if youre not 30 ?brand you're actually 55
Comment from : @donniereynolds7842

Came here listening about Dave talking about retirement Leaving, wondering what a goose and crack eggs was doing in a retirement plan
Comment from : @nicholasczech6973

The rich are money minded That is one thing I learnt from the start I have always wanted to build wealth I have set out $167k that I had been saving since 2020, and I want to put it in the stock market so I can grow my wealth Any recommendations?
Comment from : @Suntz_u

That dude should go in to radio What a voice
Comment from : @stephenlyons8717

And this is why i hate pension Nothing left to pass on it dies when you or at best your spouce dies I can save the money but not in control of it in the pension
Comment from : @666dynomax

Again and again Dave is telling people to pull 8-10 from their nest egg and still keep the egg This is borderline criminal He knows it won’t work and still he’s saying it
Comment from : @alk672

lol just pull off 10 year of year bwahaha fairy tale math
Comment from : @QuadTap

This video is a great example of why, while its great to use Dave Ramsey's plan to get out of debt, its better to use a Certified Financial Planner at a Registered Investment Advisory firm once you've saved some money and are on your way to planning for retirement Setting an expectation of having an $8M nest egg on a median income at retirement and spending 10 of your funds annually in retirement is misleading to put it mildly
Comment from : @motoguy3574

Funny this guy is acting all altruistic about how many “mission trips” you would want to take, while he cheated on his wife This holier than thou irks me
Comment from : @CroisMoi

RETIREMENT QUESTION!!!!! HELP!!!!brbrMy wife has a 401K ROTH Her employer matches her contributions into the ROTH account and on her paystub it say the employer match is PRETAX When do we pay the taxes on the employer match (assuming it has to be after tax for ROTH)?
Comment from : @dontworry1568

I’m confused about the math He said the average person makes around 60k if you save 15 of that from ages 30-70 that’s 40 years, that would be less than a million
Comment from : @Princesss855