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What is pension?

For one, we dont get girlfriends or mistresses.... We use high dollar call girls. These, for the most part, know their role. They dont talk. They are highly available. And are a heck of a lot cheaper in the long run.

There is zero chance they will cut benefits to someone ALREADY receiving benefits... It would cause a civil war. Think about it. Some 75 yr old guy is getting $1500/mo and all of a sudden he now gets $1200??? No way. No way it will happen in this country. Also, announcing a cut to future benefit recipients will cause a flood of people over 61 and under 70 to start their benefit. That flood will crush the fund. So, the only option is raise the payroll cap..... significantly.

This video came recommended, and now I can't stop watching the entire playlist.

Who cares

But hey. We always have money for illegals.

The United States is responsible for this. This country is a fking shit hole. Stop paying taxes

Just using the figure that you threw out there, $2500 social security, check with a 20% reduction, that would be losing $500 a month. With a 23% reduction that would be losing $575 a month. This is huge. We cannot afford to lose that amount of money coming in monthly. This would devastate millions of social security recipients making them a further burden on society. I don't think a 10 year plan is enough time to make up that amount of money for the majority of people who are already retired.

Yes, no matter who is president

Yes if we dont get rid of joe biden!

You can retire before 59 1/2 without paying early withdrawal penalties on your 401k. If your 55 or older and you've worked at your company for 5 or more years. At least that was true when i retired a few years ago at 57. I net $1600 every month after IRS takes their cut, and i have a good policy with the affordable care act for $0 premium. I rarely pay anything out of pocket. I plan to take SS at 62. My combined income (401k + 1/2 my SS) may be over the limit beyond which the government holds back $1 of every $2 from the overage amount only - and I'll get that back at full retirement age. The trick is to have your house and car paid for, dont support any relatives, and learn the art of enjoying a frugal life. I dont know why these guys painted such a bleak picture of early retirement.

Buy at whatever price and hold good investments. Time in the market versus timing the market

Ask someone to jump across a board that is not very high, no problem, take the same board, and elevate twenty feet. It's a different story, same board; it's risk perception.

2:30 That sound effect is extremely extremely extremely annoying.

I retired at 59 twenty years ago when I decided that the money value of time was more important than the time value of money. I had prepared by saving and ensuring there was no debt. I sacrificed 25% of my defined benefit retirement plan to do it. In retrospect, getting away from the office and moving to the coast was the best decision ever. It opened the door to exploring America, a long held ambition of mine, It also made possible the unlikely transition from engineering to owning a small farm.

"Unaffordable Care Act"...the couples cost would be ZERO. Makes no sense at all. Quit trying to "own the libs" and make an attempt at honesty, eh? So tired of the nonsense.

"Most" workers are wives with working husbands.

What is that stupid beeping noise!

I absolutely hate these discussions. Rarely, do any of these financial guru's take into consideration a lot of people want to retire at 62. Then you have 3 yrs of health care( which is not cheap) added to your expenses. Which will also put a big drain on your assets. There is also income stipulations with ACA if you chose to go that route which you can all but kiss roth conversions goodbye. So, does your $500,000 last you until you can wait until 67? or what most financial advisors want you to wait until age 70? So many factors to consider. It's not just a take social security take at 67 or 70 issue. So STOP.

There is nothing difficult about this subject. Simple math answers that question every time. What you spend and your toleration for that limit answers the entire question.

Unaffordable care act? Yes, HC is expensive, but without the ACA it would be UNAVAILABLE to many at any cost.

Blah blah blah

Heck yeah

Is it smart to continue to ride the market down?

I am 61 years old. If I delay taking SS they will just continue to increase age requirements and cut benefits. I am applying as soon as I can this year to get what I can before the program goes totally insolvent in less than a decade. People argue that retirees take out more than they paid in. However, the dollars I put in decades ago were worth a lot more than the dollars of today. In 1970 I could buy a hand scooped ice cream cone for 5 cents. That same cone today is nearly $5. The SS Cost of Living Adjustments haven't kept up with that.

Have illegals pay five times as much to cover my SS check.

We took advantage of the past year IRA contributions last year.

Discipline is great advice. People need to educate themselves as well. A lot of people want a magic pill to get rich, and honestly it’s the boring path that consistently wins.

Buffered ETFs for retirees Great idea And I am living proof that they work Now you just have to find the right ones and they bring such a peace of mind for retirees who are more interested in preserving capital because we no longer have time for market recovery Thank you for mentioning these

🤪 'PromoSM'

With the potential for reduced benefits, it's essential to consider strategies for maximizing retirement income through investments. Investing wisely can mitigate the financial challenges associated with early retirement and ensure a secure financial future.

It's not hard to do the math. I know how long I'd have to live until waiting paid off. Im not going to live that long.

Those comments are not what they're going to do. Those comments are what happens if they do nothing (what's written in current law) For instance there are no future budgets for the US government, so do you assume there never will be another budget again?????

Social Security's comments are based on current law. Social Security neither makes law or policy. The comments by the Social Security administration are IF nothing is done. But something will be done because politicians like to continue being politicians and seniors vote.

Your selling bonds now? You bought bonds when interest rates were low and now that interest rates are higher your using money markets? Isn't that buying high and selling low? Isn't the concesus that rates will drop in the future?

Ok you believe in picking stocks like Buffett. I can respect that but please share your long term results against say the S&P 500 Stocks are definitely expensive but historically that doesn't mean much. Sometimes it does and other times it doesn't. High valuations seem here to stay(not that I don't diversify with international and small caps which are a little cheaper (

How can I connect my Treasury account with Fidelity? I called fidelity and they don’t understand what I wanted to do.

I've no argument with the concept of reliable income. I'm not sold on annuities though. Depending on the terms you can give up a lot of upside, especially when inflation over ~20 years is taken into account.

It would be helpful to have some examples of what this would look like. You said 5K a month. How much needs to be put into the annuity in order to achieve that? Add on the extra money needed for the long-term care example for joint life. I've been considering this, but I want to see examples of what that would look like. Please consider doing a video like this and I will watch for it.

The Social Security Trust Fund has been spent all along the way. It simply does not exist, as you'd have to collect more taxes to bring the money back-about.

Ponzi schemes always fail

And nobody saw this coming! When Republicans raided a completely solvent and stable social security system and turned it into a pay-as-you-go scheme! Social Security was carrying a surplus. Earning on savings and building a steadily increasing surplus. Now that it’s blowing up in their faces Republicans expect the participants to take the hit! No! No! Fukyouverymuch!

Ubi so we all have a economic floor

This is why we need to remove the cap on Social Security taxes . And we could address this significantly by cutting military spending by 5% today and putting that directly into the Social Security Trust fund. And then there's also means testing so security. Someone who's earning $100,000 a year doesn't need Social Security insurance. They need to be there if they suddenly stop earning $100,000 a year in retirement because of Bernie Madoff wiped them out.

Soc sec has been stolen and broke and on borrowed funds before I was even 65,,,you guys are wothless

Anyone with more than two brain cells knows......The Fed will print more currency, and bailout social security! Great government strategy, induce fear, and get seniors to file at 62. Saving the government millions!

If the government can pay illegals money they should never run out. Put it in retire account of senior citizens.

The S.S report from congress states that S.S. funding is transferred into the treasury account and is undistinquishable from any other revenue that is within the treasury..........So as long as congress keeps feeding it S.S. will be there , but there will be a time with this carbon credit crap , you will need to sell your soul to receive any of the benefites !

Appreciate the content! Coming from a smaller channel like myself I respect the hustle! By the way I found you through the search feature!

Make Rich Rich pay their taxes