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What is Wealth? – Why You Need To Be Wealthy

You, alive right now on the planet with all the resources we have. With only a small handful wealthy and the rest of us in scarcity and scrambling. Today on limitless TV I’m gonna be talking about why you need to be wealthy and how it’s already available to you right now. Now first glance you might be thinking that this video is about amassing tremendous amounts of wealth and there’s a lot of truth to that.

But I want to talk about the definition of wealth. What are the definitions of society? There’s a lot of people out there that actually believe that money buys happiness and they think to themselves, I’m in a small home and this is unhappy for me so if I have a bigger home or if I drive a nicer car, if I do more world travel, then I’ll be wealthier and I need to be wealthier to be happier. And there’s this paradigm of be do have have do be. And what that really means is that if you believe that having things is ultimately what’s going to help you enjoy life at the most, then you’re gonna be a super limited human being. Being a limitless human being on the other hand, is reversing that and saying that I get to be who I want and in turn it will likely lead to having the things that I want. Now this message is coming from someone who has started and operated and run and even sold very successful businesses. I’ve done nearly a billion dollars in business, I live here now over ten years in a house that I custom-built at the age of 26 my first house could fit in this room alone.

Right now I’d Drive the BMW i8 and I’m leaving on Thursday for Africa for a hunting Safari. Now we live in a world where you could judge me because I have those things there’s a lot of limiting beliefs on the idea of money and likewise there’s people that think that money is a big part of really why we’re here. I want to define wealth a different way today. This is the wealth that you need to have if you want to fulfill life’s purpose. This is the wealth and definition that says, I possess all the resources that I need for every inspired choice in every given moment. In other words, I believe that wealth shows up financially in our health, in our relationships, and in our personal power.

And right now, I feel like I am the most wealthy version of me and it’s not defined by how much money I have in my bank account. It’s actually defined by what I’m capable of in any given moment. Because right now, I’ve paid the price to produce a healthy body when in the past I’ve had a less healthy body. I’ve paid the price of now having thousands of friends when in the past I used to have three friends and I was otherwise kind of a closed off disconnected human being. And when we talk about the wealth of this world, look at my look at who you are as a person with your personal power. You know, are you hiding from your power? are you shy of it? or you wanting more but not showing up? Versus confident in taking a stand for what you believe in and living out loud. Okay wealth comes in so many forms and here’s what I believe, I believe that we can tap into our intuition and in any given moment receive what needs to be done. It could be calling someone, meeting with someone, helping with something, starting something, finishing something, doing a business, and whatever it is, if inspiration is behind it, if you have access to all the resources you need financial and non to basically complete that objective then aren’t you that don’t you have the right to be the happiest person on the planet? My wealth is divined by one word, fulfillment.

What fulfills me, fulfillment can’t be bought it can only be it can only be earned through a series of inspired choices that you take action on. We talked about why you need to be wealthy, sure I’ll teach you how to create wealth through real estate investment but just be clear those millions of dollars will always pale in comparison to the true wealth which is that every one of us in this given moment have the ability to be at peace, happy, and fulfilled. How do you do it? Let me share. If you want to step into this wealth, the real wealth, the wealth that is available to you right now there are three steps that I want to recommend. The first is to ask the second is to receive and the third is to act. I’ve been following this pattern for the last 15 years of my life. I’ve been defying logic because I’ve been going to my heart and I’ve been going to my intuition and the reality is you’re only going to get more of what you’ve got if you operate from what you know or you can tap into the temples and warehouses of knowledge and wisdom that are available through intuition.

Where you’ll gain access and instruction and guidance how do you do it? Ask, ground, get, calm. Calm your mind. Do it right now with me. Step in, lean into what I’m sharing right now. Close your eyes, take a deep breath, and fill your lungs up all the way and slowly release. And just ask, what is the highest and best use of this moment? You’ll get an answer. That’s the step two of receiving. Then step three is create a relationship with this universe or you take action on what you get. So act right now boldly if it was send an email, if it was call a friend, if it was go buy something, pick something up. Use your time differently, cancel this appointment, make this appointment, whatever you’re getting do it because now what’s happening is you’re living your life according to intuition there’s no higher and better use of your time than the inspired use of your time. And friends, that’s what this wealth of the world is really all about.

Now if you can live from inside this way this is what I’ve noticed about your outside world, abundance flows. How much? whatever is needful. Whatever is necessary, whatever you need for every inspired moment. It’s amazing how much outside world wealth can flow to us when our insight world is right. If you want to get more information on how you can cultivate the perfect mindset for attracting and magnetizing wealth like that to you, then click the link below and check out limitless. Come to my three-day breakthrough event because it’s weird. You know people say, well Kris I want to go to your real estate event I want to learn your wealth training principles and that’s called skill set. Come spend three days at a breakthrough event and learn the mindset and the heartset.

Because mindset must always come before skill set to get you where you want to go. I hope you take me up on the offer that I get an opportunity to the meet you, to get to know you, your goals, your hopes. your dreams, and then hopefully I get to see you fulfill it. .

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5 Things To Do 5 Years Before Retirement

Hi everyone bill Leff in here for money evolution dot-com in today’s video I’m gonna be talking about five things that you should do when you’re five years away from retirement ok so right off the bat number one is get organized so if you’re planning for retirement you might have a lot of your financial information scattered into a whole lot of different places maybe you’ve got some 401k plans at work or maybe even an old 401k some IRA accounts maybe your spouse has some retirement plans or old pension benefits so the first thing you want to do is really kind of bring all of that information in together we also want to start to in that process start identifying how some of those retirement resources are going to be able to work for you to provide you with the retirement lifestyle that you want we call it your retirement gap so fortunately we’ve got a couple of tools available to help you with this process one of those but number one is get organized number two is we want to look at how we can kind of optimize some of those retirement assets that you have we call the shift money to tax advantaged accounts so as you approach retirement for a lot of people we find that your cash flow tends to improve or get a little bit better maybe your kids have moved out of the house you’re done paying for college they’re kind of self-sufficient on their own hopefully if your career and your job is going well you’re maybe making a little bit more money so you might have a little bit more cash flow available to save money for retirement but we also want to look at where some of those monies are being saved and what we find for a lot of people is if you have money and non retirement accounts taxable accounts that you have to pay income taxes every year on are there ways or opportunities for you to shift that over into tax advantaged accounts and we find for many people there are you know so take a look at are you maxing out your 401k plan some 401k plans allow you to save an additional 10% in an after-tax savings via call there’s a recent tax law that now allows you to move that money directly to a Roth IRA account even if you’re over the income limits you can contribute money to IRA accounts or Roth IRA accounts there’s lots of strategies there but can we shift money from one side of the balance sheet where you’re not getting that tax advantage over into a retirement account is number two number three is know your healthcare options so this was this came up recently and it was listed as one of the number one concerns for retirees going into retirement is how much is my healthcare gonna cost and understanding that is very important because it’s some big big price tags on this so if you know if you’re working and your employer is offering health care insurance now you want to visit the HR department find out well what do they do did they do anything for you in retirement is there any options to continue that health care especially if you are going to be retiring prior to age 65 when you’re eligible for Medicare if you’re married check out what your spouse offers – and compare those different plants are putting together some ideas of how much that health care is gonna cost because you don’t want to get blindsided by that in fact there’s actually a recent study that JP Morgan did a couple years ago and they actually said that if you had to go out into the exchanges the Affordable Care Act exchanges for a sixty four-year-old it would cost you about eighty four hundred dollars a year per person for just a silver plan so that’s not even the top level plan so understand what those options are check with your employer that’s number three number four is you want to think about your plan for income so hopefully if you’ve done some financial planning you’ve identified some of those gaps you know where those gaps are and what we find oftentimes is especially early on in retirement where your income and the expenses still may be a little bit more variable you want to understand what some of those gaps are and how much money will you potentially have to pull out of those retirement accounts are you eligible to take money out of those retirement accounts are you over fifty nine and a half if it’s an IRA are you over 55 if it’s a 401k you don’t want to get hit with any penalties start planning out what that income strategy is gonna be and maybe having some of that money in a little bit more conservative type of investment so you’re not blindsided by oh my gosh I’m retiring I need to take twenty thousand dollars of a retirement account and guess what the stock markets down so think about that plan for income and where’s the money gonna come from and the number five I love this one because I think it kind of fulfills to two issues here with retirees and it’s consider a semi retirement so I think the idea for most of us and in fact what I think about my own retirement when that happens the idea of working you know 4050 hours a week and then all of a sudden one day just you know throwing in the towel and never working again it sounds a little bit abrupt you know so we’ve been talking to a lot of clients about semi retirement and easing your way into a retirement situation where maybe you go to a part-time status maybe you do some consulting for a few years or maybe you just do a job that you’ve always wanted to do maybe that pays a lot maybe doesn’t pay a lot but it’s fun and you enjoy doing it and it can also help to sustain some of that early retirement spending needs that you’re going to have as well so again especially if you want to do strategies like maybe delay Social Security benefits having some of that semi retirement income can really help fill some of those gaps there so think about semi retirement that’s something that can be done during the planning process where you can see how that income might help your overall financial situation

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The Retirement Gamble (full documentary) | FRONTLINE

[Music] tonight on frontline america's retirement crisis it's tough to really worry about retirement right now i guess plan b would be to keep working my retirement plan is fingers crossed and pray basically even if you have a 401k or ira will you have the money you need to retire if you make a hundred thousand a year you need one and a half million to be okay a lot of 401k programs are lousy you put up 100 of the capital you take 100 of the risk and you get 30 percent of the return correspondent martin smith investigates make it simple that's a question that can only be answered on what your risk appetite is if you don't want making it simple well i wish it was simple if you want to gamble with your retirement money be my guest tonight on frontline the retirement gamble [Music] increasingly americans in money trouble in this bad economy are borrowing from the number of workers borrowing from their accounts has reached a 10 year number of workers now let's begin with one simple fact america is facing a retirement crisis and the statistics are grim tax code that could hit 401k half of all americans say they can't afford to save for retirement the average retirement fund has lost 12 000 one-third have next to no retirement savings at all meeting the need for many americans to work longer and save more for retirement i just don't know if i'll be able to save that much god willing social security will still be there for someone like me it'll probably be enough to keep me out of poverty retirement fund gets sliced and diced and divvied up for wall street to play with now i'm just gonna have to somehow find a way to save 10 of my salary or 15 of my salary which is probably what i what i need to actually be saving to have any shot of retiring you know not on food stamps yeah i don't know uh hope i hope to be able to retire [Music] recently i've started to look into how to make more money how to increase my income while still teaching it's tough to really worry about retirement right now because i know it's so far off and i know that worrying and stressing over is an easy thing to do [Music] but i'm also of the mindset that as long as i don't have too many bills or anything too many debts then i could essentially live off of whatever i get i guess plan b would be to keep working but i'm really banking on plan a otherwise yeah no i don't have a plan b [Music] it's hard to imagine even at this point in my life being retired i just don't see it you know living the american dream of having your house and being able to retire nobody has a pension anymore it wasn't like it was in the 60s or 70s where people worked for you know good companies and had a pension plan i think that's a harsh reality for a lot of people i think and i do think that we'll be working until we'll definitely be working until our probably mid 70s i would if i had to make a unless we can make up some big ground soon [Music] you know i consider myself middle class i don't have the luxury of a couple million dollars in savings the cost of living is going up your water bill goes up your utility bill goes up your gas bill goes up your food goes up retirees are getting stressed because their nest eggs their savings are not producing any income for them so they're all wondering where they're going to make ends meet i'm fortunate i can live at a higher standard because i have a little bit of a nest egg in in my retirement savings but others they're at poverty level as for me i'm almost 65.

i started saving for my retirement in my late 20s but along the way i dipped into my nest egg not once but several times so this is my ira and 401k which will be cleaned out over a certain amount of time and now like millions of other baby boomers i too don't have enough the key to your retirement working out is having enough return on your assets most of my savings went to pay for my kids educations well this is where fees would really hurt you badly this is where fees would hurt you badly a divorce and the crash of 2008 didn't help either it looks like my own personal fiscal cliff i'm now planning to work for as long as i possibly can so this whole plan is predicated on working full time until 70.

Yes and at 70 from age 70 to 75 i have you working part-time [Music] these days many baby boomers are planning to delay their retirement some may never stop working it's hard without knowing exactly how long you're going to live it's difficult to guess how much you need to put away most people seem to feel that at retirement to be okay you need 10 or 12 times pay and maybe 15. so if you make a hundred thousand a year you need one and a half million to be okay you need to save more you need to start sooner you can't start work when you're 20 or 22 and decide to get serious about this in your 40s the boat has sailed so what can we do today americans entrust over 10 trillion dollars to thousands of big and small financial service providers okay click i just bought stock you just saw me buy stock no big deal with expensive marketing these but there's so many choices it's hard to understand when it comes to mutual funds it's often hard to tell what you're looking at rather than a system it's more like a free-for-all i don't really see it as a real system i see it as maybe a retirement mess is a better word for it looking for real life answers to your retirement questions if you're lucky you have a 401k roughly half of companies offer a 401k if you work for a small business chances are you might you don't have access to such a thing some companies then offer other supplements and then of course there's things you can do on your own like the individual retirement account so it's entirely confusing right so where does one begin let's talk about that 401k you picked up back in the 80s about 60 million americans have signed up for their company 401k plan these are your 401k election forms as you can see there are numerous options to choose from and remember this is your retirement so make your selections carefully but most people remember their first 401k meeting as dumbfounding any questions i had no idea i was so confused i came out of that meeting and i was like oh my god it was just it was overwhelming for me the knowledge that you had to have in order to invest i really was kind of clueless i didn't know what i wanted to invest in i really didn't know anything about it i had learned somewhere some i had heard something about if you're young you should be more willing to take risk you have time so other than that i really knew nothing and that's one of the best aspects of this morning i showed you the plan you either had your choices between an aggressive investment moderate or conservative you know there was nobody there managing my money it was all up to me so traditional pensions don't necessarily let you take it all in a lump sum the 401k is one of the only products that americans buy but they don't know the price of it it's also one of the products that americans buy that they don't even know it's quality it's one of the products that americans buy that they don't know it's danger and it's because the industry the mutual fund industry have been able to protect themselves against regulation that would expose the danger and price of their products it used to be much easier in 1970 42 percent of employees had a pension a guarantee by your employer that you would get a good percentage of your salary and benefits upon retirement this is the life what with my retirement plan and the few dollars i'd saved i didn't have a thing to worry about workers didn't have to figure out how to manage their own savings plan it was done for them it was very simple the employee really didn't know any of the mechanics behind it they just knew when they came close to retirement that they were promised a benefit to a secure income over their entire life so they had this income until they died and so what was wrong with that system absolutely nothing to be honest it was a great system the problem was that over the last decade the rules of the game changed what changed was that people started living longer new accounting rules global competition and market volatility 2 affected the cost of maintaining a pension plan the old system became an expensive system i think from an employer standpoint they have to know how to manage investment risk and they know how to have to know how to manage longevity risk and they have to spend a good deal of money and they have to spend a good deal of money and if the market doesn't do what they hope it will do you know they can lose some of the cash that they've actually put in from a funded status standpoint so it's pretty complex one of our major concerns is to protect our accounts against rit it was then that corporations found a new loophole in the internal revenue code what essentially happens is that the 401k comes in in the late 70s early 80s it starts as a corporate tax dodge basically it's if you're a high earner you're going to put some of your money aside nobody ever thought that this was going to apply to the rest of us i mean there was never any thought of it so not quite by design a new retirement system was born big brokerages and banks saw an opportunity to expand their business and helped employers set up and run their new plans they promoted the arrangement as a win for everyone from the individual perspective the 401k actually opened up the opportunity to save for retirement for many individuals who worked for businesses that didn't have a pension and it also allowed them to have a portable vested amount of money that they could take with them as americans started changing jobs more frequently it's as simple though isn't it as the businesses decided to get out of the business of providing pensions and shift the burden to employees i would express that more as a sharing of the responsibility for retirement between employers and employees but while some employers contribute to employees 401k plans all of the risks fall on the individual 401k plans really place the burden on the individual participant to have an adequate retirement and the vast majority of ordinary people don't know how to do that it's a very complex task we wanted them to be able to figure out how much they needed to save for retirement how to invest that money and then once they had a lump sum once they retired how to withdraw the money so they didn't outlive their assets so that's three different risks picking and choosing the right investments requires very careful handling enter the mutual fund industry people in the mutual fund industry realize that there was a huge opportunity here right i mean not only could they sell their mutual funds you know directly to investors but they could make the mutual funds the very foundation of the 401k plans in 1981 nobody knew what a 401k was by 1989 it's in the lexicon it's being written about it's being talked about by throughout the 90s now all large employers effectively have plans in place people are participating it continues to grow from there start saving 300 a month when you're 23 and you can retire a millionaire the boom happened in lockstep with the roaring bull market of the 80s and 90s mutual funds were charging high management fees but nobody seemed to care the returns are great so no one thinks about how much does this cost to me when they're earning 15 or 20 percent star mutual fund managers like fidelity magellan's peter lynch encouraged all of us to jump in you shouldn't be intimidated everyone can do well in the stock market you have the skills you have the intelligence it doesn't require any education all you have to have is patience do a little research you've got it saving for retirement seemed as simple as betting on the market it was a great time employees who participated in these plans and invested in the stock market you know couldn't wait to open their monthly statements to see how much the value had gone up you know so things seem to be working nicely [Music] well i was invested in everything stocks mutual funds you name it we would get monthly reports things were growing everything was growing in the 90s you could not lose money in the market even if you were a dumb investor i mean it just kept growing and growing and growing internet stocks drove a powerful surge on wall street today the economy was doing great i mean you had all kinds of gains in the stock market that was kind of the dot-com era internet you really didn't have to pay attention to you know you got your statements at the end of every quarter and you were making money it was exciting because uh just uh gradually over time you have it we would have a day where we would make seven thousand dollars or uh and as much as thirty thousand dollars as in a day as it built and even more in 1996 we had like doubled our money we had like 400 almost 500 000.

steve shulow and dan robertson believed they were headed for early retirement the day their portfolio topped one million dollars it was november 11 1999. oh that was a very uh nice day that day wasn't it what happened november 11 it's when our portfolio went over a million so that was just amazing it was like well yeah this is this is how investments work you invest it and it grows i mean that's how i thought about it it was a manic monday in the financial market stocks plunge traders are standing there watching in amazement and i don't blame them but in the spring of 2000 the market collapsed a lot of their customers are freaked out we did not know this is our mistake we didn't know it was a bubble we just didn't know our portfolio had gone all the way down to where it was in 1996 from 1.5 million to 500 000 460. i think all that was gone at the height of the internet bubble americans had also stuffed 19 percent of their retirement money into company stock we invest all of our 401k and enron stock absolutely don't you guys agree for savers like debbie skedzinski who worked for com disco a computer leasing company the fall would be precipitous i was close to a half a million dollars i had in my 401k with company stock you know it was like wow look at all the money we have look at what is happening you know i can retire probably when i'm 45.

the dot-com failures continue to mount the internet skozinski not only lost her savings she lost her job today filed for chapter 11 bankruptcy protection including another 200 job cuts or joined a who's who list of corporate bankruptcies the day i got laid off i lost it i thought oh my god i'm a single parent i have no job i have a house i have a house payment what do i do you know um and i was scared really scared i didn't have much of a retirement left um i couldn't even borrow against it and it was just something that um i never foresaw ever you know losing my job ever never the worst was yet to come concerns about shaky home mortgages are triggering fears of a financial meltdown talk about the speed with which we are watching eight years later savers were hit again the mortgage market is far from over this is volatility we haven't seen of course since way before you and i were more trouble ahead for the nation when the housing bubble turned into the crash of 2008 it put retirement even further out of reach economic turmoil of recent years is putting a comfortable retirement at risk for many americans it was like holy smokes how do you stop the bleeding the reality of what you've lost is huge i mean not only have you now lost half of your 401k but your house is not worth anything anymore either so anything that you thought you were going to have there is gone and now your half of your 401k is gone you know if it took 13 years to accumulate 80 000 in one year to lose half of that and then try to get that in the back in another 13 years and and only be at the 80 000 that you were 13 years ago um you know the math doesn't work [Music] debbie skozinski was already in a hole with next to nothing to cushion the blow of a second shock and now her house was worth less than the loan she owed the bank you know there's some days where it's like you just want to go scream you know in the backyard and just scream because you have your choice do you pay this or do you pay this her bills were piling up she did what a quarter of americans have done she dipped into what was left of her 401k i freaked out when i took the money out of my 401k it was hard i mean it's you know you never every day on the news i'd listen to it i'd be like oh god it's really bad will i be able to keep my house well you know what if my car breaks down i can't afford a car payment it just can't be this hard to make my i can't you know you you hear these big companies with these people taking these huge bonuses you're thinking well what happened to the average joe they just don't care they made their money already growing outrage over those bonuses the year the markets crashed wall street doled out 18 billion dollars in bonuses the latest bonus bombshell is sending shockwaves across washington robert hilton smith entered the workforce in 2003 he taught for a bit worked at a coffee shop and then went to grad school where he ran up forty thousand dollars in student loans but on the bright side he had no savings to lose during the 2008 crash when he graduated with a masters in economics he was hired at a small think tank in new york they had a 401k and he began to make regular contributions but even in a relatively good market he began to sense that something else was wrong i have a 401k i save in it it hasn't seemed to go up it's awful i kept checking the statement i'd be like why does this thing never go up this is weird i mean the stock market i knew was up and down but i was like i still should be seeing some returns hilton smith decided to make a research project out of the subject he began by looking at the investment options inside his 401k plan 22 funds in all you know you've got all these names and the names tell you nothing it's a balanced fund it's a growth fund okay you know yes that's lingo for certain kind of broad investment strategy but really what the heck does it invest in you know so i went through each of these the actual fun prospectuses um which took me an exorbitant amount of time because each of these things were you know 50 pages long they still wouldn't tell you what they were doing [Music] as he dug deeper he discovered one fund invested in mortgage-backed securities the kind of security that caused the collapse of the housing market but that's not what worried him i was digging into all the different aspects of it and i kept coming back to fees so here's the first mention of fees this x ratio right here why would you think that x ratio means fees hilton smith found over a dozen different kinds of fees including asset management fees trading fees marketing fees record keeping fees and administrative fees use when you draw money fees when you take loans fees when you actually get money out when you're retired which i actually didn't even know about i spent a month lily going oh oh actually this fee is a sub-type of this v and o that covers that or no that's another name for that it was very opaque the average actively managed mutual fund carries an annual expense of one point three percent some funds charge a fee of two percent and even as high as five percent that may not seem very much right you know you've got fifty thousand dollars or a hundred thousand dollars and okay so you lose five hundred dollars so you lose a thousand dollars a year that's what you would pay to a financial advisor right but if you add that up over 20 or 30 or 40 or 50 years in a 401k plan all of a sudden you're well into the six figures as your balance grows and that's the difference between running out of money before you die or having a little money left to pass on to your heirs a lot of 401k programs are lousy the fun choices stink the fees are outlandishly high and in many cases you can take two next door neighbors you know living on maple street in any town usa and one person is paying 10 times as much to invest in a 401k as the other person [Music] to understand this fee business i went to talk to someone who has thought long and hard about it jack bogle the founder of vanguard a company that offers some of the lowest fee products on the market he says that if you want to improve your retirement outcome make sure to minimize wall street's take [Music] costs are a crucial part of the equation it doesn't take a genius to know that the bigger the profit of the management company the smaller the profit that investors get the money managers always want more and that's natural enough in most businesses but it's not right for this business bogle gave me an example assume you're invested in a fund that is earning a gross annual return of seven percent they charge you a two percent annual fee over 50 years the difference between your net of five percent the red line and what you would have made without fees the green line is staggering bogel says you've lost almost two-thirds of what you would have had what happens in the fun business is the magic of compound returns is overwhelmed by the tyranny of compounding costs it's a mathematical fact there's no getting around it the fact that we don't look at it too bad for us what i have a hard time understanding is that two percent fee that i might pay to an actively managed mutual fund uh is going to really uh have a great impact on my future retirement savings well you have to rely on somebody to get out a compound interest table and look at the impact over an investment lifetime do you really want to invest in a system where you put up 100 of the capital you're the mutual fund shareholder you take 100 of the risk and you get 30 of the return i wanted to know how others would react to bogle's claims jpmorgan chase offers more than 100 mutual funds that charge anywhere from less than half of one percent to more than two and a half percent annually i want to get your reaction to an example that jack bogle gave us and that is that if you invest over a 50-year investing lifetime in a mutual fund making seven percent a year on average but you're paying two percent in fee for that that that two percent will erode uh something like two-thirds of your gains so the lower fees relative to and to any given investment will always result in a higher accumulation but is his example correct i mean it's it's shocking that you would be giving up two-thirds of so i so i don't know the math behind the example but does it sound correct exciting it sounds um it sounds high [Music] it had sounded high to me as well so i took bogle's advice found a compounding calculator online and used a simple example in order to isolate the effect of fees take an account with a hundred thousand dollar balance and reduce it by two percent a year at the end of fifty years that two percent annual charge would subtract sixty three thousand dollars from your account a loss of sixty three percent leaving you with just a little over thirty six thousand dollars most investors are unaware of all the types of fees they're paying okay so as soon as everybody's actually seated we'll go over what's going on crystal mendes started saving for retirement in her early 20s but she rarely looked at her account and just assumed it was doing well today one day my fiance was looking at his retirement and he was essentially bragging about how great he was doing so i pulled out my annual report and we kind of compared notes and i realized that he was doing far better than i was he basically said honey i think you're getting ripped off we should look into this after looking at the fine print mendez found out that not only was she paying high fees she was invested in an annuity with a high surrender fee a penalty for any early withdrawals i think it was ten percent was the surrender fee so i was like you know battling with myself do i really want to give these people my money or leave it there and then i won't have a surrender fee but i think in the end i just said forget it they can have the fee and i'll move on with the remainder of my money all this talk of fees made me curious about my own 401k i run a small company with a handful of employees we make documentaries for frontline but we're too busy to look at the fine print of our retirement plan but while putting together this report i went online to look at what my plan was offering the funds that i'm allocated to if you look at i found what hilton smith found confusing tables of all sorts of products with different kinds of fees but it doesn't have any sort of ticker but those are proprietary mutual rights they have 434 but axa because they're an insurer i even found this offering the american century livestrong fund a mutual fund co-branded with lance armstrong's cancer foundation how did this get here how do funds like these get into my plan in the first place in seeking an answer i came across another family of fees it works like this in order to get their offerings placed on employer 401k menus mutual funds rely on brokers and plan administrators in return the brokers ask for a payment or revenue share it's a kind of pay to play arrangement or as some say a kickback that adds another layer of costs to retirement plans a lot of people use a term like kickback because in some ways it is it's a legal kickback there's nothing against the law about it but it is a sort of you scratch my back i'll scratch yours kind of arrangement if you sell our funds you will get a portion of the revenue we earn from selling them through you this is a kind of subrosa part of this industry and there's not a lot of information about it but the fact of the matter is as far as i know that those kind of payments to brokers for distributing your shares has simply become part of the system you know the brokers are getting a little religion here they're saying why should i distribute your funds unless you pay me to you get these big management fees i want some of it you're getting plenty give me some the problem is that these fees are not paid by the fund company the bill is passed to you and me here it is buried deep in my 401k plan documents it took me about an hour to find the reference [Music] do you think the industry could do a better job of making people aware of the effective fees on their savings i think we could make people aware of the effect of every pressure that they have on their accounts what stands in the way of doing that better job i what i would tell you is it's sometimes it's very difficult to get people to focus on something that seems complicated and dull and boring so could we do a better job with helping consumers understand all the things that are tied to what they just bought whether it's financial services or the riding lawnmower yes it's too complicated uh retirement sit back relax pull out the paper and what an article that says a typical family pays 155 000 in wall street fees on their 401ks seriously seriously you don't believe in certain average american household will pay nearly 155 000 over the course of a lifetime and fees alone that's according to a new study here to break it all down robert hilton smith in the spring of 2012 robert hilton smith came out with his study on the impact of fees on retirement savings when we looked at it we really found that all the costs over time are really being shifted onto individuals here i was amazed i mean everybody covered it all the major outlets and all of the financial industry outlets as well every one of them really had been sold to us these 401ks and iras as safe products over the years the point is that this system isn't built for individuals at all it's certainly not built for their benefit new and eye-opening report out this morning these are taking a huge chunk out of our retirement the industry took issue with some of hilton smith's numbers but he'd made his point we're being charged a lot by these financial firms to do not a lot in a lot of cases we need something different out there we need something simpler something safer you know honestly something that people can put their money in get good returns not have to worry about losing their entire nest egg and then trust that they'll actually be able to retire one day if they you know do the right thing and save enough etc [Applause] there is someone who has been promoting something simpler i was criticized many years ago somebody said the only thing that poor guy has going for is the uncanny ability to recognize the obvious for the past four decades jack bogle has been preaching the gospel of long-term low-cost investing through index funds get wall street out of the equation get trading out of the equation get management fees out of the equation you own american business and you hold it forever that's what indexing is own upon the owns the entire u.s stock market does no trading has a cost of one percent a year to own and that is the only way to do it then you were the creature of the market and not of the casino index funds buy and hold a broadly diversified basket of stocks that match the holdings of a market index the s p 500 the wilshire 5000 or maybe a bond or commodity index they don't eliminate market risk they ride the market up and down but they are much cheaper because there is no active manager you can guarantee to the shareholder that they will capture their fair share of the stock market's return for better or for worse if you want to gamble with your retirement money all i can say is be my guest but be aware of the mathematical reality that maybe you have a 1 chance of beating the market over time it has been proven right year after year after year because it can't be proven wrong it's a mathematical certainty a tautology if you will jack bogle would say stop fooling yourself you're better off investing in a broadly diversified index fund than in actively managed mutual funds what do you say to that i think he's a uh i'm not going to second-guess him i'm going to say that i think that there's a role for uh actively managed uh product in the marketplace i think but that is second-guessing him he's saying so i'm second-guessing jackpot i'm respectfully uh disagreeing i think there's a role for for active management in uh in portfolios it's that's my belief but what is that role how well do they perform they come with names intended to reassure every investor growth funds value funds balanced funds and they are run by seasoned professionals who are paid handsomely to manage them the question is what are you getting for that are you getting superior performance and the answer unequivocally for the industry as a whole is no there's no scientific evidence that mutual funds outperform a simple strategy of holding the market index the verdict is in it's been in for at least a quarter century all else being equal you should buy the cheaper fund and one of the ultimate dirty secrets of the fund industry is that a lot of people who run other fund companies um own index funds in their in their own accounts and don't talk about it unless you put a couple beers in them the evidence is overwhelming year after year actively managed mutual funds failed to beat index funds studies have borne this out repeatedly over various time periods in bull and bear markets i asked the head of retirement at prudential which markets dozens of actively managed funds what she thought about this yeah i haven't seen any research that substantiates that i mean it i i don't know whether it's true or not i honestly have not seen any research that substantiates that so all the research that's done at vanguard that makes that argument you've looked at that no i haven't i haven't i haven't read everything but it it so much it depends on you know what i need is different than what you need and there's not an asset allocation or a fund strategy that's right for everybody i talked to one woman at prudential who's head of retirement and asked her if she was aware of the studies that showed that index funds did better over time than the actively managed funds and she says she wasn't that's unbelievable i find that actually unbelievable these people that are in the business know that the index funds do better right they convince themselves that's not true when i've talked to these people but wait a minute all the studies how can they convince themselves that's not true because they're convinced they're recommending the fund that's going to do better this is not a time when you want to be buying index and of course there are hot funds this is not gambling it's investing the financial media loves the best performing stock mutual fund this year and we're often susceptible to the lure the problem is as the small print says past performance doesn't guarantee future results well if only the pass for prologue it would be a great thing returns do not persist there are some funds that are outperforming the broader market the good markets turn to bad markets bad markets turn to good markets so the system is almost rigged against human psychology that says if something has done well in the past it will do well in the future that is not true and it's categorically false the high likelihood is when you get to somebody at its peak he's about to go down to the select up ten valley here today the last shall be first and the first shall be last last year's dogs could actually be this year's winners [Music] so why aren't more of us invested in a diversified portfolio of low-cost index funds critics say it's because the fund industry spends millions hoping workers will follow their financial advice they're hoping that the worried worker will actually trust um an advisor you have the audacity to believe your financial advisor should focus on your long-term goals not their short term in its marketing the industry implies that retirement advisors are on our side but when it comes to employee retirement plans there are no clear standards on who can give advice financial advisors lead from a new position of strength the department of labor is responsible for regulating employee retirement plans we have a system today where anybody can hold themselves out as an expert they call themselves retirement planners financial planners advisors etc we don't have a standard way that the consumer can figure out who has the expertise to provide advice what's a financial advisor that is a term that means almost nothing it is somebody who might be a financial planner or it could be a broker who is really a salesperson there when you need them there are registered investment advisors or fiduciaries who are obligated by law to act in their clients best interests let's talk about the cookie cutter retirement advice you get at some place the vast majority of so-called advisors around 85 percent are not fiduciaries they're merely brokers or salesmen a fiduciary is a professional who by law is supposed to put your interests ahead of their own broker dealers are not under that obligation they have to conform to a suitability standard which means they can't put you into something which is totally unsuitable for you this doesn't have to be the best thing that you could pick out for them it's just something that's suitable it's okay i can't believe that somebody would want to get into a business and then stay in the business of merely being suitable basically your guy is out for himself to maximize his sales and the way he does it is to be loyal to the mutual fund and they try to sell you the most profitable products steve shulo learned this lesson the hard way when he encountered someone selling financial advice in his school lunchroom i met my salesperson in the teacher's cafeteria she showed us the different products you know i didn't know very much about investing but in the back of my mind way back then how is this person compensated it was always a question because i had worked in the private sector before i came into teaching and i knew there were no free lunches nothing is free the salesperson working on a commission basis offered shulo an annuity a retirement insurance product with what he thought was a guaranteed return of 12 percent a year so i signed up for 200 a month and for about five years the interest rate was going way down to three percent and i was wondering what the heck is going on here why is it down to three percent i didn't understand that the insurance company has the right every year to reset that rate uh as they see fit so how can you know when a financial advisor is really a salesman if you're working with somebody who is trying to sell you financial advice you say to them are you acting in my best interest here would you be willing to sign a pledge that says that you're going to act as my fiduciary at all times with all products because if you're not then i'm going to leave and it's really just as simple as that another broker sold an annuity to the featherston's after the crash of 2008.

at the time it seemed suitable this was a product that we had discussed with him and we thought that this would insulate some of our money from what we had just gone through what most a lot of people had just gone through you know we trusted him yeah we trust him yeah we trust him but the problems came after mark got laid off and the couple had to break into their account i mean we're talking on seven thousand dollars the fees have been upwards of 600 just to get the money out i can agree paying the 10 penalty you know to uncle sam but you know these companies need to realize that they're making money off the backs of people that have worked hard for their money it makes you mad but you know what are you gonna do you're powerless he paid for advice that was not to try and hold the industry accountable the department of labor proposed a new fiduciary rule in the fall of 2010.

When retirement savings are at stake advisors should put their clients interest first the critical question is what constitutes paid investment advice the proposal we're discussing today will amend a 35-year-old regulatory interpretation the rule would require all financial advisors to put their customers interest before their own whenever dealing with retirement accounts today there are trillions of dollars in each of these markets the variety and complexity of financial products have increased and made fee arrangements far less transparent the financial services industry lobbied hard against the new rule it just seems that the financial services industry is really concerned about they got the attention of congress our job here in congress is not to preserve the business model that has existed for 35 years but if you're going to upset that business model we better know why and we better know where we don't need an alternative we just don't need to do this the labor department pulled back their proposal people in the suitability business have very good lobbyists and they've done a very effective job of creating doubt in washington and concern about how something like this would be administered about how the fiduciary standard would be enforced about the costs of making whatever transition you would need to make the full political power of the financial institutions and the mutual fund industry was completely engaged in making sure that that that that rule never saw the light of day they were saying the rule is too tough they were saying they don't want any rule they don't want to be have fiduciary applied to them they don't want to because they're not really dispensing financial advice they're just dispensing uh information and educational services yadda yadda yadda give me a break they're steering you to the funds controlled by their company the otherwise you might leave and go somewhere else i asked the head of retirement at jpmorgan asset management why anyone would want to take advice from someone not bound by a fiduciary pledge shouldn't i want to only work with somebody who has a fiduciary obligation not necessarily no no isn't it better that can it's different it's not better it can cost more you may not get any different advice or outcome and it can cost you more right but make this simple for the investor i sit down with somebody and they give me some advice you say i should ask a lot of questions i want to know whether or not one of those questions shouldn't be whether they have a fiduciary response yes that's a i think that's a very good question and if they don't ask them so ask them what that means and and see what you think about the world make it simple should i prefer somebody with a fiduciary responsibility so that's a question that can only be answered on a personal basis based on what your level of need is what your risk appetite is and how much of the investment decision you want to delegate this isn't making it so if well i wish it was simpler [Music] over the past couple of decades we've handed over more than 10 trillion dollars of our retirement money to the financial services industry they've built a pretty good business out of it but how well is it working for you and me so far most efforts to reform the industry have fallen flat recently the government has forced through some new rules on fee disclosure and the department of labor says it will try to reintroduce a new fiduciary rule soon unless there's a game changer unless there's a law passed or laws passed or scrap the system and start over as i advocate oftentimes no nothing will change because there's no incentive for the market to change people just keep on saving this is the only option they've got and companies will keep on raking in the profits so saving for retirement remains a bewildering and frightening challenge for millions of americans for the people we met in making this program the outcomes are mixed some are confident i definitely couldn't retire right now but the fact that i'm planning ahead and you know investing wisely is is hopefully you know going to help and i i don't think i'll run out of money i am concerned about running out of money but i'm a survivor and if i have to downsize into a tent i will do something special retirement dream i mean we we we're living it right now this is it this is it you know it's life gives you these opportunities we never plan to learn about investments until and until we got slammed in the gut then oh we better start paying attention here others are worried i'm leery i'm really really leery i don't know what i'm gonna do i feel like i'll be working for the rest of my life absolutely for the rest of my life it's hard to imagine even at this point in my life being retired yeah i just don't see just don't see it either i don't see it [Music] my retirement plan is is fingers crossed and pray basically yeah win the lottery um hope my dad has more money than he does and the truth is just have to find a way to save way more than you should have to meanwhile what about hilton smith's research he is now finishing his phd dissertation on america's retirement crisis but the grant money he needs to support his continuing work has dried up as for me over the last several months i've spent a lot of time playing with different online retirement calculators some were optimistic others very discouraging i will keep working [Music] for more on this and other frontline programs visit our website at pbs.org frontline [Music] front lines the retirement gamble is available on dvd to order visit shoppbs.org or call 1-800 play pbs frontline is also available for download on itunes [Music] you

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Gold IRA Rollover Kit: How To Roll Over Your 401K & IRA To A Gold IRA

Vital: Gold IRA Rollover Kit Information
Just how To Convert Your 401K & & Individual Retirement Account To A Gold IRA Many thanks for enjoying this video clip concerning just how to
get your complimentary 401k as well as gold IRA rollover kit. If you'' re viewing this video after that we don'' t. have to obtain into all the benefits of a gold individual retirement account as well as how it can aid you minimize the volatility.
of your retired life portfolio. Allow'' s dive in to discovering regarding your free.
gold IRA rollover package currently. After you call 1-844-612-7162, or complete.
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To get your complimentary gold IRA rollover kit today.

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3 Ways to Invest Your Retirement Money | CA Rachana Ranade

Well today, I am mosting likely to tell you a tale,.
a tale of an ant and also a grasshopper. When it was a great bright day, the grasshopper was.
cheerfully vocal singing specific great tunes and also he was appreciating the weather while, on the other.
side the ants were extremely hectic gathering food to make sure that they wear'' t need to encounter a trouble. on a stormy day. What happened that, the rain began and when the rainfalls were.
putting greatly, the ants were delighting in the food in their very own tiny residence. Poor grasshopper, what.
might have occurred to him? You wish to see that, the insect is likewise cheerfully taking pleasure in food, due to the fact that he'' s not the grasshopper of that initial.
tale, he'' s the next gen grasshopper, he understands just how to prepare for his future, perhaps he'' s seen my. lectures and also that ' s why he ' s a smart insect. Hey individuals, CA Rachana Ranade below and also I invite.
you all to a new video clip which is about exactly how to park your retired life corpus. I am certain.
that grasshopper hasn'' t still left your mind, you may be questioning how did he obtain that.
food, so it'' s all regarding proper planning, correct goal setting and if you'' re still. not aware about just how to set clever objectives, just take a look at this lecture whenever time.
licenses as well as I make certain that that insect may be extremely really crazy about knowing, he might.
As the post retirement phase.Well now, it ' s time to push
the reset button,. Since you were in the accumulation stage of your life till now but, right currently we''
re.
not targeted for individuals who are in 20s or in their 30s, this is a lot more targeted in the direction of individuals that.
are at their old age of let'' s say 60 years or perhaps if you are three decades, maybe, you can. definitely view this video clip for your parents right, because they are mosting likely to be the ones that.
might receive a swelling sum quantity at retired life and then they might obtain puzzled regarding just how can I.
park these funds to ensure that I can decumulate them, so that I can utilize them, withdraw them extremely nicely.
and also lead a very comfortable life blog post retirement. So simply to give you one more quick explanation,.
accumulation stage occurs when you are functioning, whenever you are maintaining that tiny component of.
your earnings to make sure that you can easily retire early, retire rich and also currently when you have.
reached this retirement stage, now it'' s all concerning withdrawing your.
investments and leading a calm life.Many times

people ask me on WhatsApp or via.
emails that Rachana, we have gotten an x quantity as a round figure retired life quantity, now where.
should we invest this. If you really ask me, there'' s no solitary answer for that, I will certainly provide you.
An example for this. Presume that there are 3 friends a, b and also c. Almost 25, thirty years back,.
all had actually chosen that when we retire, we must have a retired life corpus of one crore rupees as well as.
today every one of these three individuals have actually retired. Allocated quantity was exactly how much, target amount.
was one crore but, let'' s understand actually what have they accomplished, Mr. A conserved only 30.
lakh rupees so I can say today his investment corpus is simply 30 lakh rupees, for b it is 90 lakh.
rupees, 90 lakhs is very close to the target and also c has actually taken care of to spend 2 crore rupees for his.
retirement.Now you only tell

me one point, can I provide them one single approach or. the approaches need to be various? Answer is, the methods need to. be different yet what will certainly be the strategies
is specifically what we are going. to talk about in the following component of the video.
Currently allow ' s comprehend all these three situations one. by one'. The really initial one, if you bear in mind is of Mr. A
, whose target saving for retirement was. one crore yet he actually wound up just with 30 lakh rupees.
Now what do you think, out of these. 3 techniques, what must be his concentrate on, ought to it get on earnings generation, on corpus. security or on corpus development? Ideally, it must be generally on earnings generation and also obviously. on corpus protection.He can ' t take the threat to grow his corpus by placing his corpus in dangerous.
tools like equity

article retirement right. So what are few remedies for Mr. A, solution. number one, sadly he will certainly still have to emphasize to make extra revenue, now how,. if he is a skilled individual, he may still offer some particular working as a consultant services as well as make money. Possibility second if that ' s not, I indicate if that ' s not doable, perhaps if he ' s remaining in his. own residence, he can sub rent out a component of his residence, so let ' s claim he can have a paying guest to whom. he can just offer like one bed room of his residence, something like an Airbnb design, can be run.
Now allow ' s. His focus needs to
be on number one corpus protectionDefense because since ' s almost nearly
. For that what will he have to do, number one, he ought to make sure as I mentioned that.
his capital is not deteriorated, so, for that can he spend in equity, direct equity? No.He needs to. make sure that resources is not deteriorated top. Number two, can he still pay for a slight amount.

of luxury,
why not minor amount of high-end is inexpensive since he ' s very near his target.

and number three, what he can do is that he'can invest a part of his funds in something like. a conservative fund wherein, 75 to 80 percent direct exposure is offered to financial obligation and also a very small. section is it is in fact designated to equity, so I can say that corpus development can be a really.
extremely small factor which might be taken into consideration but, again I am duplicating, significant emphasis on what, significant.
focus on corpus protection and also revenue generation. Allow ' s relocate on to case number c.For instance number.
c, he ' s at the most fantastic position since his target conserving was one crore he has actually wound up saving. to crore.
Does he need to truly trouble about something now, no. Can he actually live.
his retirement life in deluxe, absolutely yes. Can he purchase equity too, this person,.
yes, why not, due to the fact that for him capital defense is not really a large running dilemma, he also has.
surplus corpus. So he can risk out a few of his money in equity. Currently whether in direct equity or.
in equity mutual funds relies on his knowledge right. So after understanding all these.
factors, I wish you have comprehended that Mr. C has two more opportunities, opportunity number.
one if he lives to the age where he had actually anticipated, allow ' s claim he had anticipated that he lived.
to 70 and also if he lives just till that age, he will certainly be able to keep some corpus also
. for his nominees, for his lawful beneficiaries. If he outlives his assumption so for example he.
had actually intended that he will certainly die at 70 as an example and he lives till 80, still will certainly he have. the corpus to live that added 10 years, yes, due to the fact that he has that added quotient.So.
all those youngsters out below viewing the video clip, I hope you recognized that you undoubtedly love if you.

are Mr. C while you go to your retirement age. Well before we continue to recognizing the.
various financial investment options available, we have to understand two requirements, which are these.
2, number one, also if you are in the retired life phase, extremely really extremely vital is the emergency.
fund. Currently what is reserve, it ' s something like you should have nearly 3 to six months.
of your expenses really quickly offered with, you maybe in your interest-bearing account, it could. remain in your FD, alright it might be in fluid fund but it need to be significantly quickly obtainable. If. you need to know even more regarding emergency situation funds, I have currently made a video on that you can inspect. it out later on. Second, extremely very important,
you need to have a medical insurance due to the fact that as and also. how you expand much more in age, opportunities that you might face disease, you could face a hospital stay. or a shade higher so, you need to have a proper medical insurance. If you would like to know more concerning. health insurance policy once again I have actually made a different video clip on that, I have recently released this on. the channel.So make certain that you have understanding about both these two factors and afterwards
only go on. to understanding the numerous financial investment options. Reserve ticked off, health and wellness insurance coverage.
checked off, I am not

claiming tic toc, ticked off alright. Currently with this let ' s carry on to the. government systems as well as we are going to concentrate on 3 systems. The really first one is SCSS, elderly.
person conserving plan. The second one is PMVVY which is the Pradhan Mantri Yaya Vandana Yojana.
as well as the last one is POMIS which is post workplace month-to-month income system. Well to be really truthful, the.
2 are absolutely retirement focus systems, the 3rd one can be opened also by individuals who.
LIC. Eligibility for SCSS, ideal eligibility is 60.
years but with specific uh problems so for instance, if you have actually taken an early VRS, a special.
VRS, after that age restriction is taken down to 55. If you are a protection workers, the age restriction is taken.
additionally down to 50 right, for PMVVY, it ' s a flat age of 60 years as well as for POMIS as I pointed out,.
there is no age limitation even a person of two decades, 30 years, 40 years, 60 years also can open up. This account. The following one has to do with term period, for SCSS it is 5 years and also it can be.
encompassed more 3 years for VVY, it is ten years and for POMIS, it is five years.How. much are the rates of interest
? For the first 2, passion prices are seven point four percent. for the quarter one of 21, 22. What does this mean? Can the federal government change these. interest prices regularly, sadly, answer is yes. Can they do a downward revision,. yes, can also they do an upward alteration, yes fine, but, recent past may they have been in. a downward fad all right but, still I can claim that 7 point four percent right now is not. bad whatsoever, okay. When you earn money out is the huge inquiry now, if you '
re chatting regarding SCSS,. you make money out quarterly, for VVY, you get, you have an alternative you can choose regular monthly, quarterly,. half yearly, yearly whatever as well as for POMIS, as it ' s a monthly income system, it will be paid. out on a regular monthly basis.Minimum down payment, maximum deposit is really well discussed in this table you. can see below, minimum is 1000 and its multiples maximum is 15 lakhs.
For VVY, 1.5 lakhs for a. yearly pension plan and also 15 lakhs for a monthly pension, for post workplace MIS, it ' s thousand as well as it ' s and. it ' s multiples and also for maximum amounts it is 4.5 lakhs if it ' s a solitary account and also 9 lakh if it ' s.
a joint account. There are specific stipulations about withdrawal and penalty as well, if you want you.
Okay.So it'' s absolutely nothing like to be shown.
aim prevails and what is the aim, goal is income generation and corpus protection. Exists 100 %.
corpus defense, yes, because all 3 plans are someplace related directly to post workplace or. to the government, so it '
s comparable to claiming that government defaulted, very rare situation right. So. in this case, I can state that corpus defense is absolutely guaranteed, so return once again to situation a,. b as well as c. To whom is this definitely suitable for, it is absolutely suitable for the situation a. category.Can case b, can Mr. B likewise invest some component in this, absolutely
indeed, why not. A. little bit less as contrasted to A and also for c this, can be a relatively reduced quantity which. can be bought these three schemes. So I hope you have understood quite possibly concerning.
the federal government plans. Now let ' s carry on to investing in mutual funds. Ff you bear in mind, I.
informed you that depending upon the risk cravings, one can pick whether he needs to choose a debt. fund
or to a well balanced fund, because likewise we spoke about a conservative fund, you keep in mind when I
. claimed 75 to 80 percent direct exposure will certainly go to debt, only that equilibrium little small portion to equity.
and the 3rd one can be actually buying equity oriented funds but, that was for whom a?. b? for c, because he had a great deal of surplus corpus too right.So let ' s understand one by one if. I am speaking once again regarding Mr. A. is this option offered for him, none, neither financial obligation, nor equity. Preferably, you must proceed with an extremely risk-free federal government system factor just right.
If I am. speaking concerning b, can b invest a part of his corpus in financial debt funds, solution is of course, why not, he. can do that. Now if he wants revenue generation, what he can do is buy debt.
if you desire to proceed with purchasing equity, currently invest in equity was for whom, ideally for.
Mr. C so currently, allow ' s recognize how c will certainly plan his investment in equity mutual funds. Is he.
going to straight buy equity shared fund, no understand how he would do it. Presume.
This is not called as an SWP, it is called as an STP that is absolutely nothing yet a methodical.
from your pocket you understand it ' s there in the financial obligation fund, it ' s parked in the financial debt fund. Currently money.
I wish you have actually recognized what is.
fund, a crossbreed

fund, we did speak about spending in equity oriented mutual fund that was primarily for.
Avenue, which is investing in equity, my favorite one.
Can you spend straight in.
If he does. not have expertise, he can get that too. I will certainly like to share a really great.
experience which I had. So whoever enrolls for my training courses on numerous like basics of stock exchange,. basic analysis, technological evaluation whatever, I do conduct a zoom conference sessions every.
She has been a scientist
, has zero commerce background history however, post article she. Enthusiasm for knowing, age is simply a number. Spend in stock market but again coming back to our situation research, this one is not applicable for.
what are bees, what are Great , I have already made a different video clip on that particular. I have chatted.
about numerous types of bees like gold , Nifty bees, bank bees, in that video you will certainly.
I wish. If you have, wear ' t forget to share it with your pals.

As the article retired life phase.Well now, it ' s time to press
the reset buttonSwitch. Opportunity number 2 if that ' s not, I mean if that ' s not manageable, perhaps if he ' s remaining in his. Currently let ' s. To the government, so it '
s as good great saying that government defaultedFailed very extremely scenario. Currently let ' s move on to investing in shared funds.

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How To Save $350k In Taxes In Your Retirement Planning and Live Your Retirement DREAM!

does saving over 350 000 in potential taxes audio great to you in retirement I'' m going to show you how swiftly we can obtain that done so this is the pair that concerned see us and they needed to know do I have enough can I retire how do I pay less tax after experiencing the situation we struck the switch ends up that they only have concerning a 65 probability of success our task is to obtain this number up means more than 65 percent so we can obtain you retired as well as most of the moment that indicates overlaying a tax strategy creating a new income plan altering exactly how the Financial investment Profile is structured and also all of this together is what we call your retired life success plan so when we check out the tax strategy if we proceed down the standard knowledge it'' s a projected 550 000 of taxes however if we check out a recommended tax obligation strategy to conserve that approximated 350 000 we obtain the tax obligations down to regarding 173 throughout retirement along with that we have an estimated finishing balance of concerning 2.5 versus 1.7 by implementing the tax obligation plan as well as adjusting when they intend on taking social security as well as producing an actual earnings strategy so they recognize when where and just how much revenue to withdraw in addition to modifying the portfolio to see to it the quantity of threat in there as well as the anticipated growth equals with their capability to remain in the we do all that which'' s what we call the retired life success plan and also that obtains them up to a 99 possibility of success to get going with your really own tailored retirement success plan click the web link in the summary listed below to schedule a visit with one of our consultants that has a fiduciary responsibility to place your rate of interests initially thanks [Songs]

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Washington’s Teachers’ Retirement System (TRS) – PLAN 2

[Music] as a board participant of launch a seattle non-profit that concentrates on academic programs for children you can visualize exactly how important i believe our instructors are to the community so currently it'' s time to concentrate on a segment i like to call instruct the instructors proclaim to my educators what we'' re going to do is review the instructor retirement financial savings plan or likewise recognized as the trs there are 3 typical strategies yet today we'' ll just focus on plan second allowed'' s jump right into it the trs prepare 2 is a lifetime retirement pension strategy readily available to public staff members in washington you and your employer contribute a percentage of revenue to the fund in the strategy currently worker contribution rate is 8.05 nevertheless the pension plan funding council sets payment rates for the defined pension plan system every two years so anticipate an upgrade in 2023 currently that we'' ve talked about exactly how you save your money in retired life allowed'' s discuss when you can retire what your earnings will resemble in retired life you'' ll need a minimum of 5 years of service to receive the retired life with trs intend 2.

complete old age is 65 yet you can choose to retire as early as 55 however your advantage can be decreased depending on the overall years of service to calculate your approximated income you'' ll demand to understand pieces of info your service credit years ordinary last payment or afc service credit history is based on the variety of years you function for your employer reports the drs and also the afc is the two typical highest possible paid financial years remember your benefit can be no greater than sixty percent of your asd at retirement your monthly advantage amount is calculated increasing by two percent to the service debt years and a typical final payment so two percent multiplied by service credit history years multiplied by typical final payment equals your regular monthly advantage okay class i imply teachers allow'' s do some quick math on a regular monthly advantage amount miss out on abraham works 23 years and the standard of her greatest 60 months of income was 5400 each month what is her regular monthly advantage amount 2 solution credit score years ordinary compensation equates to that regular monthly advantage so we have 2 percent increased by 23 years increased by 54 is 24.84 for high revenue public workers government legislation restricts the amount that you can contribute towards retirement and also restricts the benefit computation so take a while to examine the irs restrictions if you'' re preparation on retiring keep in mind this process takes some time the main benefit quotes alone take six to 8 weeks to process we suggest you make a two-year strategy using your drs retired life checklist and also calling us to aid with your retired life path [Music] wow um [Songs] you

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Financial Planning – Watch This Before You Start Financial Planning!

Have you ever think of this question what would happen if you are hospitalized unexpectedly due to an accident or a sickness and You lose the ability to make money. Could you continue to pay your bills? If you couldn’t then I know exactly how you feel There’s nothing more frustrating than your hard-earned retirement saving has to depleted and to make matters even worse you increase your debt load Frustrated and embarrassed you end up feeling like a failure because all your plan that your so-called financial Adviser helps you set up the plans all are ruins Unfortunately, there just hasn’t been a quick and easy alternative to just put aside more emergency funds at least three to six months where everyone seems living paycheck by paycheck however, the problem with these options is that you either have to put in more time to learn more extra income by doing more than A job or reduce your spending habits to scarify your lifestyle expenses That’s why today I’m delighted to share with you the program that I just found out have the solution to help you pays your bills When you cannot work due to accident and sickness, hi, my name is Moses tan and over the last five years I’ve personally helped people to protect their ability to make pays their bills in their retirement plan And with this new program you are getting cash benefits paid directly to you as you wish to help pay unexpected expenses or everyday bills What makes this new program so different to all the other out there is there are no companies are offering this service in the market Let me show you a sneak peak how this program works When you have an accident or suffer sickness You shouldn’t have to worry about how you’ll pay for added expenses or everyday bill this program pays you $3,300 direct to you if you stay in the hospital a day up to $6,000 if you stay in the hospital for five days up to $12,000 if you stay in the hospital for 10 days up to $36,000 if you stay in the hospital for 30 days This program also covers you if you have outpatient surgery or fracture each outpatient surgery or fracture incident you get pays up to $5,200 even if you have a root canal or a stitch you get pays for $1,300 it pays cash directly to you in addition to benefits provided by any other insurance policy group planned workers Compensation or any government employment insurance program Jamie a married mother of two said earlier this year I became extremely sick and missed work.

For more than three months putting my family in a very difficult financial situation She was so lucky to have this program because we would have been on the verge of being homeless due to her illness. She Was out of work for more than three months But this program was there for her and her family the whole way with prompt handling of her claim and the arrival of her benefit Checks this program made a really horrible time a whole lot easier for her and her family Raylene an individual said I was connected with a very helpful the planned customer service representative. He explained in clear detail What needed to be done to complete his claim not only by him? But also by the plan that representative acted with professionalism kindness and respect for him and his situation He had his first claim check in about one week The representatives dedication as an employee of the plan was invaluable.

Are you ready to get started in that case? I’m guessing you’ll want to know what your protection is going to be and That’s understandable given that most people on average spend hundreds of dollars to get a fraction of what you’re receiving today so if you’re ready to make a change in your life and you want to protect your retirement text Moses Town at six hundred and Four point four for one point nine to eight – or email info at living benefit CA we will contact you as soon as possible Remember, could you pay your bills while you need the money the most when you in a hospital due to accident or sickness? The good news is that you can trust us to take care of all your bills simply by becoming set up the plan today Just imagine how you’ll feel.

When you get to pay to get well at home. You can enjoy watching Netflix without worry about your bills so text Moses tan at six Oh, four four four one nine two eight – or email info at living benefit CA and let’s get you started today Looking forward to hear from you .

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Retirement Planning in Your 50s and Beyond

Your 50s are an excellent time to buckle down
regarding retirement preparation, as well as that'' s since now in your life, you may have figured
a number of points out. You may have a good suggestion of where you
spend money, what your choices are, the important things you wear'' t take care of a lot, as well as you
your knees didn'' t harmed as much. For traditional and Roth IRAs, for 2022 that.
number is a thousand bucks of added catch-up payments. Certainly, this is assuming that you have.
the capital to make the maximum payment and placed the catch-up payment in addition to.
that, and also if you don'' t', that ' s all right, it ' s not viable for everybody, simply do what you. can. But if you are actually trying to maximize your.
account equilibriums at retired life, those catch ups are an effective device. The following point to do is to look at your Social.
Security and pension benefits.It ' s a

excellent time to start getting a reasonable.
If you'' re eligible for Social Safety, you ' ll. Your benefit is based on your 35 highest possible profits.
years, so you wish to make certain that those great earning years remain in there and also that you.
don'' t have any kind of unneeded zeros in your background. You might be able to get some.
retired life advantages from a former spouse or your existing partner, so if you'' re widowed.
or separated, for instance, you intend to look into those possible advantages as well as you might also.
be able to obtain earnings on your partner'' s incomes record if you are still wed and there,.
are some methods you'' ll wish to consider as you experience that process.By the means, I

' m Justin Pritchard, as well as i aid.
people prepare for retired life and spend for the future. So, there will be some resources down in the.
summary below that cover this in more information and give you a few other guidelines. An additional clever relocation is to handle your financial obligations.
or make a strategy for them. If you have customer financial debts like credit rating.
cards as an example, you definitely wish to plan to get rid of those financial obligations as well as make certain.
that your costs remains within your income limitations so that you'' re not excavating yourself.
an opening during retired life or as you head towards retirement. What about supposed “” great financial obligations”” in retired life? For instance, a mortgage. There'' s a great deal of benefit to being debt-free.
as well as not having a mortgage payment when you'' re in retirement a great deal of people really focus. on eliminating that financing before their retired life date however it'' s not necessarily the end of the. world to have a home loan in retired life, and also paying it off promptly out of your retired life.
funds can create some problems.As long as you

can fit that monthly settlement.
into your earnings possibly that'' s your Social Security, pension plans, and some withdrawals from.
interest-bearing accounts, and also you can handle that financial debt comfortably, however, it'' s not
the. end of the globe, and bear in mind that that loan repayment will ultimately go away one day which.
maximizes money circulation for various other expenses possibly healthcare costs later in life. Talking of expenses, how much are you going.
to need to invest? Well, that'' s something to start finding out. as well as there are a number of different methods to do that this video clip that'' s mosting likely to stand out up.
above will give you some reminders on that particular but primarily you can take a look at your costs.
today and perhaps change that for inflation or you may consider an earnings substitute.
ratio and also claim perhaps I just need 80 percent of what I'' m earning currently that could or might. not be ideal for you or you can target a specific level of investing such as $50 or $100,000.
whatever the case might be, and with those numbers you can set a goal to start going to as soon as.
you have a suggestion of your spending and your retired life revenue resources and your assets.
You can run some estimations and also once again we'' re setting your assumptions so that you.
know if you'' re on course or not and this can inform you to some possible deficiencies or.
possibly let you understand if you could retire earlier than perhaps you expected there are a great deal of.
handy online calculators around they can do a decent work of getting you in the.
ball park but ensure you comprehend what their restrictions could be so they put on'' t necessarily. obtain incredibly in-depth as well as you could not have the ability to readjust all of the assumptions but again.
you can obtain some keynotes of if you'' re type of close or if you'' re method off on what.
you anticipated another great action in your 50s is to fine-tune your financial investment technique so up.
to this point you may have been doing some fantastic points to obtain you to the point where.
you are you'' ve accumulated some great possessions but if you'' ve been using high threat strategies.
maybe speculating maybe day trading that type of point it'' s time to ask on your own if that ' s. something that you desire to continue doing at this phase in life it is tough to constantly.
obtain good outcomes with those high danger strategies as well as you might have even more to shed now than you.
did previously.I ' m not stating

you can ' t do it or most definitely. don ' t do it but I would state continue with severe caution as well as perhaps simply claim hello I'' ve done a.
great job as much as this factor possibly I'' ll reassess what I'' m going to do going ahead.'At 50 it ' s time to begin believing regarding lasting.
care if you place'' t currently been thinking of it there'' s a 70 percent opportunity that.
you could require some kind of lasting treatment and that might include whatever from someone.
aiding you out in your home possibly this is an enjoyed one presuming you have someone in your home who.
agrees and able as well as remember maybe physically and also psychologically tough and also.
it may require competence however it might consist of somebody helping you out in the house that you understand.
or you entering into a skilled nursing facility as well as paying those higher costs that are associated.
with that said higher degree of care there are several methods to take care of the prices which might.
consist of a long-term treatment insurance coverage however those are sort of problematic so certainly.
explore them yet take into consideration a few other choices as well possibly rather of maybe to supplement.
or possibly you just select insurance coverage however some various other alternatives include saving up properties and also.
allocating those for a lasting treatment occasion or perhaps checking out your residence equity as a.
safety web to cover a few of those huge expenditures that'' s not always a fun way to spend.
your time so among the other things you can do is imagine just how you desire your retirement.
to unravel and this is an actually crucial step that a whole lot of individuals skip it'' s vital to.
have something to do with yourself once you quit working you may have obtained a whole lot of.
your social interaction a great deal of your meaning and also a few of your identity out of your work.
and you might want to not necessarily confess that but for a whole lot of people that'' s the case. it ' s simple to state that the important point you'' re eagerly anticipating in retired life is not going.
to work however you most likely intend to have some suggestions on how you'' re going to load your time.
which method you'' re mosting likely to primary appreciate it much more and number two there may be some.
genuine benefits in regards to your psychological as well as physical health if you are retiring to something.
instead of simply retiring from work, so ask on your own how will you fill your days? What are you most thrilled regarding and interested.
in? What can you do to discover some meaning and also some.
objective throughout that time? And who could you hang out with, as well as what.
are your strategies for maintaining your physical health and wellness as good as you can perhaps keep it? I hope you discovered that helpful.If you did, please leave a quick thumbs up,.
thanks, and also take care.

If you'' re eligible for Social Protection, you ' ll. Your advantage is based on your 35 highest possible earnings.
There'' s a lot of benefit to being debt-free.
Well, that'' s something to start figuring out. At 50 it ' s time to begin believing regarding lasting.

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