What Percent of Your Income Should You Invest? (With Data)
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- čas přidán 27. 07. 2024
- According to a recent study by Vanguard, the data show us that we as Americans are not investing enough. They looked at 5 million participants who had defined contribution plans, so these are just retirement plans in which the employer and employee contribute together. In this video we dive into what percent of your income you should be investing in order to retire.
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Study: institutional.vanguard.com/co...
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WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
⏱️ Timestamps:
0:00 - Start Here
1:13 - Current State of Americans
4:53 - What % Should You Invest?
6:50 - Your Retirement Number
9:03 - Investing Strategy
Make sure you are subscribed to the channel! For the next month we'll be dropping 2x videos per week.
My favorite Personal Finance channel on YT, keep up the awesome work. And thank you, Humphrey!
Looking forward to the 2 videos per week!
Nice video bro! What do you think of CHILIZ (CHZ) a lot of new partnerships and a price target of 3 dollar the upcoming few months. Your thoughts?
My portfolio for the past 30 years has always been self managed and I own 3 shares of Berkshire Hathaway Class A stock (BRK:A) which I bought in at about $17,000 during the mid 90s, I’m currently liquidating some of these positions to incoporate new Gen. Stocks, but am I better off re-investing into Gold as it seems stocks are a little too unstable right now.
Not a great July so far but if you step back and actually look you will see the S&P 500 was up for the first Quarter. In the last 30 days, my IRA saw a gain of $70k. You might also consider financial advisory looking at your capital.
Investing Is more than reading quarterly reports. Learnt this from reading Peter Lynch's book. I believe there are people who do this for a living, and I just delegate the task to these professionals. That's how I make money from the market to be honest.
I've been getting suggestions to use one, but where and how to find one has been challenging, Can i reach out to the one you use?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Elise Robinson’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am 51 years old, recently retired, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
The absence of stock investments has left me with a sense of remorse, albeit I'm appreciative of my decision to maintain funds in the money market. With roughly $200k nearing maturity, I'm gearing up to step into the stock market. Could you advise me on suitable stocks for a beginner looking to steadily increase their capital?
What actions should I pursue to embrace this opportunity? I am earnestly focused on safeguarding my financial well-being and am eager to participate.
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true, I have been in touch with a financial advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
"Kristin Amber Landis" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks.
After investing from my salary of 350k for 4 years, I've only made about 8% total, or 2% per year, which my friends say is very low. My employer 401k of $220K returns about 4%. What would you advice to do with my portfolio for improved returns?
I don.t really know your risk tolerance or asset allocation, sounds like just bad stock picking. Also unclear if you have an advisor providing value via financial planning or other decision making. But likely scenario is just bad stock picks. Index funds, Etfs and chill.
The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.
Well, I chose *Jennifer Leigh Hickman* as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification. You should look her up
Appears the be invested in government bonds. Although a safe but very small returns. Look into investing growth and income, growth, aggressive growth. Basically the s and p 500 or dow jones
What are you investing in?
I'm only 23 and have been watching your videos for a close to a year now.. I just used a retirement calculator and discovered that I already have my 401(k) on track to retire with over a million dollar by investing just 9-10% of my income! Along with other recurring investments I have in single stocks and ETFs set up plus automated transfers to my savings each paycheck. I really feel that, with your help, I've been able to set myself up for financial success long-term even when coming into adulthood during a difficult economic time! Keep making great videos please!!
While dollar cost averaging, take advantage of dips in the market especially when young…5-10% dips happen periodically as well as 20% dips more rarely-take full advantage of them.
Only? Your basically halfway into your 20s!! Should’ve started at 18!!
@@michaelhutchinson2854 Like most public schools, we didn't have real financial literacy courses available at my high school.. And starting in early 20's is a lot better than most people 👍Thanks for the needlessly negative comment though
@@michaelhutchinson2854are you actually insane? What value have you added here?
@ncolon2516 great job! You are way ahead of the game. Keep it up. Let that compounding interest build.
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 17k in last month 2024.
Wow that's huge, how do you make that
much monthly?
Honestly speaking.... I will continue to trade and stick to Sylvia daily analysis and guides as long as it works well for me.
The first time we had tried, we invested $4,000 and after a week we received $16,400. That really helped us a lot to pay our bills. Cheers from the North 🇨🇦
please educate me, i am willing to make consultation to improve my situation.
No doubt! I never knew sylvia nicolas had gone viral. I decided to back up my assets and property with her when we met at a conference in Boston Massachusetts🇺🇸 for the first time.
Your content has helped me a lot in the last few months. Thanks, Humphrey!
I agree that many people are considering NVDA as the "Stock of the year." However, I'm curious about which stocks could potentially become the next META in terms of growth over the next decade. I've allocated $200k for investment, aiming to retire comfortably.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
MARINA CAROLINA NICE is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Automated makes it so much easier. It's rough at first, but after a while you adjust. It's nice knowing that you're saving and can't spend it.
definitely.
@@humphrey Thanks for providing so many good videos for people. It's much needed information and you're helping a lot of people!
This was a great and very realistic video, thank you!
I plan to get into the fin market putting a portion of my income monthly, I believe consistent and steady growth would have me rewarded in some time, I wonder though if there’re smart ways to go about investing, picking and selecting stocks? I’ve recently tried but have been met with red on my portfolio, I’m open to options
I think you should become more passionate about investing, if you don’t become lifelong learner you won’t make profit.
Everyone has means and unique ways of operation, the point is ensuring you’re profitable, I’ve seen my $170k startup surpass a million and its been only eighteen months having an FA guide me on my investments. It’s a necessity going about the fin market if you want to be profitable nothing can match professionalism and experience.
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment
Great video! I know you've touched upon it, but real estate is a great way to "retire early" while still making money with passive income. I plan on going heavily into this very soon and a chunk of the money I have saved will go there instead of the stock market or a high-interest savings account, then I plan on reinvesting the money I make from that back into it over the course of 10-15 years (while still also putting some into Index/ETF funds and my Roth IRA), so my plan is to retire, or even semi-retire, with "passive income" from real estate before my Roth IRA is even accessible.
Love your videos Humphrey!
thank you :D
❤ your channel .Great advice . 🇮🇪
thank you!
A nice summary, thank you.
Really good stuff! Finding the right balance between saving for later and living it up now is key. From my own experience and chatting with ppl who watch my stuff, being able to switch things up with your money plan is a game-changer. Like, at first, you might spend more on learning new skills or schooling, which is an investment in itself. Later on, you can start putting more into stuff like stocks or savings. The trick is to keep tweaking your plan as life changes. It's all about making sure your cash is doing the best for you at every point. Love the vibe of sharing and learning together. Keep the awesome videos rolling Humphrey!
thanks Charlene!!
Great commentary, Humphrey. Personally, I deliberately create fiscal scarcity for myself by auto-depositing pay check money into my IRAs first before it hits my bank account. Then I have less cash for non-essentials and have to stick to my budget. Saving for retirement is so un-sexy, but just like going to dentist isn’t fun - later, you’re glad you did it!
love that my friend!
Great to do this. I have to ask, how did you calculate your percentage? I personally try to split my savings into pre tax, taxed, and taxed cash. Do you prioritize pre tax and come up with a number which put you check to check?
just food for thought. you know you can’t touch your IRA prior to a certain age? If you are disciplined, which you are, you may want to allocate some of your savings into a taxable brokerage so you could retire early. something to think about.
Investing should be as much fun as watching paint dry lol
@@unitedfan6722 Great nuanced question! I really just try to put away as much as I can stomach without having to live a spartan lifestyle. Balance to everything. Right now I'm at about 21% post-tax savings (it goes into my Roth IRA). Then the rest of my paycheck gets auto-deposited into a few other accounts: long-term savings (non-retirement), brokerage (for semi-liquid index funds), and regular checking for day to day expenses and sushi :)
My strategy is to put half my income into the stock market at the start of every month under the careful supervision of my CFP, regardless of what is happening. The second part of my strategy is not to sell for at least 15-20 years. Time in the market beats timing the market. Speaking with a $1.1million worth of portfolio and counting.
Nice
Been binge watching your channel to be informed
IIIIII LOVEEEE THESE VIDEOS!
Humphrey. What is the diagonal metal rod against your door in the background? What purpose does it serve? 😂 Thanks and great video as always.
Hey Humphrey, I just watched your video and I must say that it was really informative and well-made. Your knowledge is amazing man!
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
What you want is to have as many income streams as you can manage. I have my "9 to 5" job, teach two online courses, run a home business (business partner handles the details), a Fidelity dividend account, a couple of I-Bonds and a number of CDs and an online savings account. Because of this I put 20% of my base salary into a tiaa-cref account and my employer tosses in another 10%. So I'm saving over thirty percent at all times and don't even miss that money.
Agreed, good on you!
10% employer match is outstanding. Congrats!
Damn how much u reeling in altogether?
Last year I saved about 15% to my emergency fund/general savings account and 5% to employer 401k with 5% employer match. I also have a vanguard account that I'll start putting money into once I reach my personal savings goal.
I am fortunate that my company contributes 12% towards my 401k, so I contribute the same to get 24% a year. In a couple years, I am going to max out my part of the contribution.
One thing to keep in mind is that the How America Saves report relates mainly to participant accounts so the reported deferral rates will be lower than the "true" savings rates of Vanguard clients. Hopefully it is much higher considering the "stick to it" mentality that Vanguard clients tend to have!
This gave me some relief. If my numbers are correct, I can actually catch up to my ideal goal if I just put in a little more effort and have a little more discipline.
I have most of my money invested, I’ve made like 60% off it too in just a year, passively. If you’re a teenager, don’t miss out, put your money in index funds and stocks you believe will do well. Just my opinion.
wow thats awesome. congrats
I will be forever grateful to you, your channel changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt . thank you ❤.
Is it the woman this CZcams Channel told us to join during the pandemic?
Yes , me and my husband joined her. and things has changed since then financially .
how can I get in touch with her ?
l n s t a g r a nn
Caroline Seymour Trade
Great video! Saw your interview with George C. with Ramsey Solutions and that was great too. I'm 34, single and no kids investing 35% of my annual income (120K+ annual earner) with no debt minus small mortgage passing half a million in net worth this year.
awesome. We have a video with George K going out on this channel in a week or two, stay tuned!
You sound like me. I have been recommended to get an umbrella policy for the first time at these benchmarks, so might be good for you look into that as well. Good luck!
Good info.❤
**I have a pension at my work that automatically removes 10%. I do a side /secondary retirement as well with 16%. Does this 15% include both combined? Am I putting too much in?
Good Video but I'm missing the Inflation factor. 56k Today has a much higher purchase power than it will have in 30 Years from now. Take that into account.
I'm trying to take that into account in my video on wealth growth. ❤
One flaw with all these median account balances studies done by the brokerage itself just looking at balances is that many people do not hold all their retirement assets in a single account. Mine, for example, are spread across 3 accounts. A good alternative to median balance studies is research done by the fed that gets at people’s total account balances. Compare the opening chart for highlighted age group which had a median balance of about 71k to Fed figures for same age group of about 185k. Still not enough, but over twice what Fidelity reports.
I am 35 and only plan to work until 40. Will be investing 4k monthly for 5 years and that's it. At 60, I will have $3,614,516.33 at 8% yearly return. 🙏🏼
I audit benefit plans for various companies throughout the year. It is depressing how little people care or know about their 401k or 403b. I called a lady to ask about her contribution rate and she didn’t realize she was contributing (her company auto enrolled her into the plan)
Simple answer is spend as little as possible, save as much as possible. If you save 10% of your income, you fund one year of retirement every 9 years. If you save half your income, you fund one year of retirement every year. If you save 75% of your income, you fund 3 years of retirement every year.
Maybe not possible for people just scraping by, but anyone making $100k+? Start saving *more*!
When you learn to live off less, not only can you save more, but the number you need to save for retirement also permanently goes down. You'll also probably be happier.
Hi Humphrey, I have the following questions to ask you, see if you can help me to understand better 😂😂 1) Is it normal for my fractional shares held by the broker as a custodian through a sub custodian or nominee when the broker acts on principal capacity? Any associated risks?
2) Fractional transactions entered into by the client with Moo Moo Singapore (my online broker) could result in a loss to the client and a gain to the Moo Moo Singapore. How would you interpret this term? Any associated risks? Thanks in advance..
9:13 trying to Time the market - I have heard many people say this; however, I have not seen anyone run figures for someone that does NOT try to find the market lows, but instead sets their Dollar-Cost Averaging at 15% or 25% (whatever) AND THEN add in more any time the market drops by 8% (5%??) during a month. It may take a crystal ball to know when the market has hit its lows, but it doesn't take one to know when it has dropped significantly. The idea is that the market will eventually go up, then your DCA will catch these, but adding more at each low would catch even more gain.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Melissa up and send her a message. You've truly motivated me. God's blessings on you.
7:11 love the dr. strange B Roll
8:42 what calculator did you use for the retirement number and savings rate scenarios?
I found a similar one by googling "years to fi calculator"
3:34 Is that percentage including what is going into their Social Security? Does the percentage include what is extracted from our paychecks for SS?
any reason you used the 2022 vanguard report instead of the 2023?
Was it just editing or did Morgan housel just directly rip off a Warren buffet quote
Could you talk about when is the best time and how to withdraw ( a portion ) of your stocks (Not IRA or ROTH). To help pay for some Credit cards or other debts? Thank you
if your credit card debt is large, and high interest rate, you may want to pay that off as a priority.
Im also wondering about the tax issues that go a long with a withdrawal. @@humphrey
What do you constitute as “savings”? My wife and I save quite a bit of our income, but we like to travel and spend a lot of our savings on that. Or we also spend it on house projects, paying off a car, etc. Also what would you say is considered “short term savings”?
What video games do you play Humphrey?
Thank you for this. May I note that studies based on 401K balances present an incomplete picture. I have zero in a 401K, but substantial assets in taxable brokerage and Roth accounts. Fidelity says I’m behind, but my account statements say I am fine.
Why not take advantage of 401k tax benefits if it’s offered?
@@cadetofmarmion2014 well it isn’t. But it is tax deferral, not tax avoidance and it converts long term capital gains and qualified dividends into ordinary income, taxed much less favorably than a taxable brokerage. I think I know where tax rates will be in the future and I believe it is a mistake to defer paying
Taxes until the rates go up.
Lots of vids/info out there. Nothing fits everybody's situation.... How much I spend, where they live etc?. Single versus married. Like to see moremarried couple calculations..and Early retirement like 55-60 y/o
My company allows us to do a traditional and Roth IRA within my 401k. Is it wise to do both. Right now I have 10% going in. My company will match 100% at 5% that I put in. Should I split this into both accounts or just do the traditional one. Any advice. Also I have Fidelity
Traditional is taxes later roth is pay the tax now so you dont have to later. Up to you. If you expect to be in a higher taxable bracket later kn life i would suggest roth.
Unfortunately 50% it’s not enough for the essentials for Canadian people anymore. Just thought I’d put that out there.
If saved around 40k cash so i put around 60% in stocks and the other is for food en mortgage payments
nice!
what is the name of the website of financial planners that you recommended in one of your videos that charged a upfront fee
facet.com/humphreytalks
I save about 40% of my yearly salary between my ROTH, 401, and robinhood accounts. Is that good?
Very good.
Pet peeve here. Not all lawyers -- in fact, the majority of lawyers -- do NOT make anywhere near "lawyer" or "doctor" money. Law has a bimodal salary distribution. National data indicate that in the most recent graduating class of attorneys, 52.5% make $50-90k. Not to mention the high potential for massive student debt that may be necessary to get a law degree. While pay will likely increase over the course of a career, the majority of the lawyers start on the lower side of the curve and will not ever make it to "lawyer" or "doctor" money.
I follow a law school graduate on youtube who makes a monthly update video about paying off her over $200,000 in student loans. Idk how she's making enough on youtube to keep up her aggressive paydown on it
He was way off with that.
Doctors right out of medical school don’t make ‘doctor’ salary… some make less than Np/PA for 7 years while they are in residency
The 50/30/20 and 50/15/5 rules always confuse me especially when it's based on take-home pay, as that is often after deductions for insurance and other benefits that are usually a considerable portion of a paycheck - especially if you're covering family as well. In that case do you add back those amounts and consider them as essential costs? But at the end of the day, these are just rules of thumb to give people starting places for setting semi-realistic goals!
Like a plumber doesn’t make a lot? But doctors and lawyers do? Which is buried in debt while another is a skilled trade that earns while they learn?
maybe not the best example I could have used.
Depends on your idea of "a lot" I have 2 plumbers who work for me and a few more in my company and no, comparatively they dont make a lot.
Haha, I thought the same thing when I heard Plumber. Plumbers and Electricians are the way to go for kids now. They make what Doctors and Lawyers make and not all income is recorded.
@user-ps8dz4zd7z for me it's effort vs payout. I had an uncle who was a brother, I have several plumbers in our company and I know their pay rates..... they don't make enough, in my opinion , for the effort they have to put in daily. Trade specific professions do make good money, just not great money and the wear and tear on your body and time it takes to make that money just isn't worth it.
Me and my wife barely have anything put away for retirement, and I'm in my mid 30s. I have a 6 month emergency fund, but I need to keep that for an emergency. Still have 70k of student loans to pay off (not counting the mortgage), although considering I owed over $105k just six months back, I should be able to pay it off within the next year to year and a half, then I can finally start investing for retirement. It's really not a good feeling having nothing saved up and being so old. Wish I'd realized the seriousness of it earlier.
I put 15% pretax in to my portfolio. I still feel it isn’t enough. But sadly, I can’t afford to put more 😢
I put 30% of my income investing stocks and crypto. Aiming for retirement in 2030😊
Good luck
you must not have kids lol
Crypto as a guaranteed retirement investment? Idk, sounds sketchy.
If that's what you want, good for you. What will you do after you retire ?
For me, I don't think I would want to retire early. I think I´ll still want to work after my retirement, even if it's for fewer hours a day. 😅 I like the structure, goals and sense of accomplishment it gives me.
I hope most of that is going to stocks
Not me acting like paying credit card debt is investments because I cant afford anything else
Well Humphrey has said paying your high interest debt is like getting an instant high yield return lol
This is true
@@Anngrl69
Does the income at retirement generally include inflation?
It generally doesnt, but i think thats a fair point, we should be including at least 2%
Savings/investing rate sitting at 40% atm... hoping to have a down payment ready in a couple of years. I need these interest rates to crash lol
Many people spend lots of time doing stupid things that give them no marketable skills. If they have the passion and dedication to follow a discipline, they would be able to handle financial problems.
Just curious to understand if the Vanguard study that is being referenced here was comprehensive enough. People switch jobs and they may have multiple 401k retirement accounts / IRAs. Not everybody rolls over their retirement account balances when they switch. Also does this study look at only Vanguard accounts? Without that context, it is hard to judge how worse off are people's overall retirement savings are,
How can I estimate how much a guaranteed pension would impact/reduce a savings rate? Don’t get me wrong saving more is always better, but I hate this lazy analysis.
Are percentages described relative to gross or net income?
Usually gross since most 401k holders are in traditional
3 portfolio is 👑
No suprise people arent investing enough, with rent/COL going up YoY and salaries staying near stable regardless of age, people have less money to put into retirement because they need to afford to live.
3:35 In Ireland ---> Does this savings cover their retirement in full, or do the Irish have money stolen from their checks as SS does with those in the USA? Are your figures counting the money going into SS here? It seems that regardless of whether or not the money is saved by choice, or by law, it is still being saved and in the end, it's still coming out of the family's gross income.
You missed inflation on the projection for how much is needed for retirement.
I've achieved this in one year thx for power Average Cost +patience
- Stocks : $33,750.00
- Gold and Silver: $14,580.00
- Real Estate:$1,620.00
- Startups in Republic: $216.00
- Fine Art Shares:$1,860.30
- Lend to Shops Investment $2,700.00
- Trust Fund: $3,132.00
- Mutual Fund : 3599 USD
The lawyer doctor plumber comparison was way off lol
16 percent in 401k, only debt is my 15YR mortgage
1.4mill assumes your costs dont go up and is not inflation adjusted... might need a lot more to actually live like you do now
Will fumigation kill mold
Buying a home is not invesment
Of course vanguard will say we are not investing enough
"What percent of your income?"
Been the same... forever.
10% is the minimum; if you can afford/budget more... you add more.
This isn't F rocket science
15% with or without employer match?
With is helpful and a bit easier 😂
Using date from 2011-2012? Really? We need new number for post covid. Things have changed.
What about adjusting for inflation?
Average inflation rate is about 3 percent (obviously after the pandemic it was much higher) so you deduct that off your return rate.
How does it work with job pension like CalPers? Also what more can you do other than maxing you Roth IRA of $7k/year?
We also need to keep in mind the people who dont get a 401k or any benefits through work. Thats millions of people and the main reason we need to raise wages and increase retirement benefits because millions won't be able to
They need to open up their own IRA.
do it on your own, you don’t “need” a 401k or benefits through work.
@@keithlynn6210 unfortunately a giant portion of people don't have enough to save. We need to lower executive pay and increase worker pay. I agree I don't want govt help. I want people to do it for themseleves but the system we've set up thx to Reaganomics has redistributed all the wealth from the bottom to the top
50% is the answer to your video title's question.
TLDW: 12 minute video just to say 15%. Damn.
As much as you can.
Where's the calculator from?
I think I linked it in the description!
@humphrey thanks. I looked at the site initially and you have to scroll to get to this one.
My takeaway is I'm way over saving lol
According to vanguard...
What are the best investments to hold in a taxable brokerage account?
Etf
Plumbers can actually make bank
Why save so much? If Americans undershoot for retirement we'll just get waves and waves of stimulus in trade for national economic security and the vote of retirees :D
watching a video in 2024 with 2010-2012 data seems pointless
You'll be surprised, human behaviors rarely ever change that quickly
Plumbers are millionaires
Every cheque goes straight to my investments and I eat off the food bank and live under the bridge.
Like a Plumber??? Come on man, you know the trades are where real wealth. I have close plumber friends and close doctor friends. Plumber is way ahead in life.