welcome to this concern of retirement Crusaders today we'' ll talk concerning retirement calculators and also just how to make use of the ideal one to get the very best and also most precise results currently the retirement calculator that lots of people use are the cost-free ones on the websites of shared fund companies for instance so right here we are at the website for Vanguard funds currently many of these common fund companies have these calculators on their website as well as they'' re all virtually universally dreadful they'' re simple they ' re points like you place in your present age when you wish to retire exactly how much you make annually exactly how much your savings just how much you ' ve already conserved let ' s placed in right here a million that you ' ll demand 85 percent of your of your existing earnings for in retired life as well as how much you expect to gain per year and afterwards you click determine and it offers you some type of simplistic outcome like you know this is just how much you have this is just how much you require and also it shows your shortage alright well this is simplistic because it'' s just bad as well as it'' s poor since it ' s simplified so you intend to use what ' s called a Monte Carlo calculator much better this set uh there'' s a complimentary variation on the site portfolio visualizer.com and also let'' s stroll with this and also see'exactly how this works and you ' re going to see instantaneously why it ' s a far better retirement calculator to make use of so it begins with it asks you regarding your profile and also it asks you to either enter possession classes you understand like a big U.S supplies or U.S bonds or Global stocks so various possession courses uh and also you would enter them down right here so as an example you'' d state fine I ' ve got you understand 30 percent of my money in U.S supplies and also I ' ve got um as well as you could be a lot more specific allow'' s state allow'' s alter this to huge cap as well as let'' s over here simply say we ' ve got 30 small cap and allow ' s say we ' ve got 40 percent in U.S bonds so the typical 60 40 split to make sure that ' s what we ' re mosting likely to make use of currently if you wished to up here as opposed to asset classes you might really have chosen tickers and place in the icon for each of your stocks as well as bonds in right here as well as the percentage of your profile so and as a matter of fact you might go a step additionally there'' s a variation of this where you could really upload your particular profile so you can I'' ll show you that a little bit'later so allow ' s return to the possession classes let ' s put this in'once more let ' s make this basic U.S supply market 60. Allow'' s placed in U.S bonds for 40'. okay and also we ' ll move forward with that said following thing it states just how much are we starting with in our retired life portfolio capital currently if you wish to you can um there'' s a variety of choices here'you can state appearance I ' m not making any contributions or withdrawals to my retired life possessions or you could do something like you wish to withdraw a fixed percent so as an example those individuals who make use of the four percent regulation you might place 4 percent in below and also as a matter of fact you could obtain extremely thorough due to the fact that if you intended to you could import a spread sheet with all your money flows year by year just how much you'' d be adding to your profile just how much you'' d be obtaining so if you understand you have some big withdrawals coming if you recognize you intend to acquire a watercraft in year 4 you could post those year by year capital right into this calculator that makes it really wonderful to ensure you obtain notified of extra academic videos to show you just how to have a far better retired life see to it and struck the Subscribe switch listed below and also the bell symbol to make sure that you'' ll obtain informed when we upload a new video as well as you log on to YouTube however, for now allow'' s go with the withdrawal dealt with percent regularly as well as we'' ll state uh four percent each year currently clearly if you wish to withdraw cash monthly you can alter this to monthly just remember you would certainly need to separate this 4 percent by twelve to see to it it appears right so now we'' ll leave this as yearly simulation duration That'' s the'number of years let ' s simply leave it at 30 for now which is the normal period of the typical retired life tax obligation treatment let'' s make use of after tax obligation returns because you ' ll be paying tax obligations now just a care right here the withdrawal percent right here if you desire state on a million if you desire forty thousand to spend and also allow'' s simply for example presume all of it was'in an IRA you ' d actually require to take out state five percent a year from the individual retirement account in order to obtain whoops in order to obtain 4 percent spendable right or possibly uh five and also a half or 6 percent depending upon your tax obligation brace so simply maintain that in mind that this thinks your own that we'' re pocket money that'' s currently been taxed after income tax return and also it will certainly obtain tax obligations for any revenue that'' s made on this cash okay financial investment time Horizon allowed'' s simply leave this is Perpetual right here we ' ve reached place in our federal revenue tax rate let'' s put in something um typical not even that much normal retired person it'' s possibly 22 percent resources gains tax obligation for that person will most likely be not greater than um 15 at the majority of possibly no percent for a great deal of individuals dividend tax obligation let'' s put in 15 Affordable Care that would just relate to extremely high revenue earners so allow'' s leave that at zero and also allow'' s state your state tax obligation concerns four percent a year next we can select the simulation design right here now I'' m going to leave it as analytical returns which implies it looks at the background of these property classes U.S stocks as well as U.S bonds as well as makes use of the typical price of return with the ordinary basic discrepancies each year and after that imitates a 30-year duration of returns for those possession courses so allow'' s leave that in statistical returns currently if you wanted to for instance if you assumed the returns in the future may be very various than they'' ve been in the past you can click on this link and also say anticipated returns or perhaps obtain really a lot more detail parameterized returns you can obtain really detailed with this if you wish to so I'' m just going to stick with the statistical returns the moment series design I'' ll stick with the normal returns if you'' re an actual statistical head you could study what the garch design is some individuals who are actually into stocks and the the mathematics of stocks may select the garch model allow'' s keep things easy for now U.S full history of course we'' ll usage that if you so this concern here is if you assumed that points were were different claim over the last 20 years and could be extra representative of the future you might rather hear to rather than full background say no and after that it would say what years do you wish to use as the history on which to base ahead returns so you may assume for instance that from 19 from 2000 to 2021 is much more representative so let'' s do that I ' ll click no for this as well as we ' ll usage these years as more rep of the future series of returned threats currently this is a large problem in retirement planning which is if you retire and also uh your first few years years state one 2 as well as 3 have a decreasing return in the stock exchange or unfavorable returns in bonds that can actually actually hurt your retired life far more so than if that happens in years 8 nine as well as 10 of your retirement so a lot of times people wish to know the most awful situation as well as what you can do right here is where it says sequence of returns you could actually place in even worse 3 years first so when it considers the returns of stocks and also bonds over this 21-year period it will often tend to put the most awful years right into the initial 3 years of your forecast so this is kind of cool that you can even do this because it lets you do a worst instance evaluation so for now I'' ll tell you what allow ' s leave it at no modifications we'' ll think that that the returns will occur practically like they have in the previous kind of arbitrarily great rising cost of living design we can pick historical rising cost of living which has actually most likely been someplace 2 3 percent a year you could believe fine over the your retired life inflation may be higher so you can instead pick a number maybe you believe it'' s going to be 4 percent and afterwards you assume it can have a three percent variance like as high as 7 four plus three would be 7 or four minus 3 would certainly be one you believe it'' ll differ within that range so if you want you can choose your own inflation sign here um I'' m going to actually just leave it at historic let'' s think you ' re going to rebalance your portfolio annually implying as your profile throughout the year obtains out of whack state at the end of the year it'' s supplies are now 70 percent and also bonds are 30 percent that you'' ll rebalance back to this uh ratio at the end of each year so that'' s what the rebalance annual is you might of course choose regular monthly or quarterly Etc uh periods leave this as defaults you'' ll see what that means in simply a min all right so let'' s see I believe we filled out everything we intend to fill in allow'' s run the simulation fine so now well that was pretty darn quick good so right here'' s the elegance of Monica Monte Carlo simulation Monte Carlo simulation results for 5 000 portfolios so in various other words in those 2 secs we were waiting for the outcomes it took the history of supply as well as bond efficiency over the 21 years and also said okay one year supplies did 10 and bonds did eight however they as a result of their common deviation supplies could have done 9 in bonds four as well as therefore it it tried 5 000 various permutations of opportunities in the future currently inform me that that'' s not a great deal far better than that calculator we saw on that particular on that Lead internet site where you simply placed in some easy numbers as well as it came out with one outcome so this is much extra I'' ll use the word scientific'I'' m I ' m reluctant to make use of words precise but a lot much extra scientific way of preparing your retirement due to the fact that it offers you a much greater sense of truth okay so allow'' s simply go through this for a minute so we see you tried five thousand times it made use of the the rising cost of living data for this duration 2021 it make use of supply market returns everything the things we placed in 4 percent yearly withdrawals Etc fine so right here'' s what it informs us it provides us bands meaning appearance if if you your efficiency was just in the 10th percentile meaning of whatever that might have occurred your results were in the most awful ten percent the lower 10 below'' s what would have occurred you would certainly have had a a Time method to return on your profile of 3.9 percent a year your million bucks you would certainly have wound up with 930 000 at the end of three decades you'' re after inflation it would certainly have had purchasing power of six hundred and forty 3 thousand your worst year you would certainly have shed 46 of your portfolio the safe withdrawal rate it reveals you to to make sure that you would not have exhausted your principal your safe withdrawal rate would have been 3.9 percent a year all right uh you know in the worst case uh put on'' t stress over this number it ' s a little'complicated what they ' re informing you here now in the 50th percentile so half the portfolios or half their scenarios did better fifty percent did worse your ordinary rate of return was a little over six percent you wind up with a million 7 you can have taken 5.55 percent a year from your profile not just 4 percent so it'' s telling you you could have taken a lot more and also still not have actually exhausted your profile below we can see this aesthetically so each one of these lines is one of those we can see the bottom line in purple is the 10th percentile the most awful instance you understand one out of 10 portfolios would certainly have done this improperly as well as after that we can see the leading the 90th percentile shows us the portfolios that word would remain in the leading 10 percent of performance so we can see as an example this portfolio after let'' s most likely to 15 years below okay if you were in a 90th percentile you ' d desire your million would have currently expanded to 2 million by the end of 15 years if you remained in the 10th percentile you know the worst profiles your million bucks would certainly currently be to 842 000 as well as after that as we relocate along right here it reveals us right here we go to year 30 as well as you can see that the worst lower tens percentile you still had nine hundred as well as thirty thousand dollars all right so this forecast based on the numbers we placed in this informs you look also the most awful and also the ideal situation your worst case still leaves you in pretty darn good form to make sure that can give you a great deal of comfort currently certainly your numbers might not come out in this manner but this gives you a suggestion of the elegance of Monte Carlo simulation is that in 5 000 Trials of various opportunities you get a a lot more practical feeling of a range of what might take place ideal instance and also worst situation now let'' s drop right here these are simulated withdrawals we see that in the 10th percentile the worst case also though you would certainly have begun taking out uh forty thousand a year uh 4 percent a year that 4 percent would certainly have been to thirty 8 thousand you understand out here you know at your 30th year whereas if your portfolio was in the 90th percentile you'' re four percent a year would have expanded to a hundred and also thirty nine thousand dollars alright and also now we see the very same point in terms of rising cost of living adjusted and also what we see that the bottom 10th as well as 25th percentile oh additionally the 50th on an inflation-adjusted basis see notice these are all trending below the absolutely no one from the Forty thousand these are all down this shows us on a rising cost of living changed basis the average portfolio the one in the 50th percentile would not have actually quite kept up due to the fact that on an inflation-adjusted basis by your 30th year you would certainly be down to a purchasing power withdrawal of thirty 6 thousand dollars each year instead than the 40 000 you started with so uh this does provide you a cautionary note that on an inflation-adjusted basis you might not do so well to make certain you obtain informed of additional instructional videos to show you just how to have a better retirement make certain and struck the Subscribe button listed below and also the bell icon to make sure that you'' ll obtain notified when we publish a brand-new video as well as you go to to YouTube as an useful matter I wouldn'' t be stressed over this If This Were My projection here'' s why we did another video where we showed that as individuals obtain later in their retired life years claim to age 80 as well as 85 their expenses truly start to go down quite a bit there'' s less take a trip there'' s much less luxury acquisitions therefore in fact in your later retired life years that four percent that you began with even if it'' s down some must be perfectly fine which'' s why this graph doesn'' t truly issue me alright so this is an idea of what you get when you do a Monte Carlo simulation currently you could obviously return present moment make changes and it'' ll take your changes and what will certainly it do it'' ll run another 5 000 portfolios based upon your new modifications so you might do this a number of times and also bring out really actually rich outcomes and this calculator is absolutely complimentary they do have paid versions it I put on'' t understand if you need it you obtain some added points below you understand customized records as well as all kinds of expensive points that you can place in this might be for some people what I don'' t like concerning this most software application nowadays they desire you to pay overtime you understand they want you to spend for use there'' s nonetheless I discovered an additional Monte Carlo simulation software program where you can download you wear'' t need to pay you can download it which means you wear'' t need to pay every month I wear'' t know if this set is as powerful however this is one more example it'' s probably not the just one whether you utilize this from portfolio visualizer which I think is flawlessly fine or you attempt this that you can download and afterwards you'' ll have the software application on your own as well as never ever have to spend for whatever includes it provides in any case please please please utilize a Monte Carlo simulation software application in order to plan your retirement and also steer clear of from those ludicrous and also truly poor calculators that you discover on mutual fund internet sites and also various other sites where it'' s sloppily created and shouldn'' t truly be used by anyone see you next time on retired life Crusaders [Songs]
in this video we discuss five areas where retirees spend 80 percent of their funds and how to reduce the costs in these areas coming up next on holy Schmidt on average retirees spend 80 percent of their funds in five distinct areas of their life what's really interesting though is when you look at these five areas it's reasonably simple to reduce the costs in most if not all of these without reducing the consumption or the enjoyment of the person in retirement in fact sometimes all it takes is a bit of awareness and the cost is gone forever and the retiree doesn't know the difference that's not always the case of course but in this video it will be the case because we're going to talk about things that are simple and easy to execute painless in many ways so next we're going to go through these five areas and I'm going to go through step by step how to cut the costs in these areas and we're going to do it very very quickly and just to be super clear I'm not going to ask you to reuse your coffee grounds buy your clothes at the thrift shop or walk 10 miles to the grocery store like I said we like things easy on this channel so we're going to work smarter not harder and we're going to free up a lot of money a lot along the way the data we use in this video comes from the Bureau of Labor Statistics consumer expenditure survey from September of 2022 so it's quite current the BLS data shows that the average retirement household spends 4 345 dollars per month and 81 percent of the spending comes from these five areas your actual amount may be higher or lower depending on your retirement aspirations and your retirement planning but the bottom line is if you break it up it's going to be about 80 percent more or less no matter how much you're spending if you are like most people the first thing I'm going to do is ask you to suspend disbelief on one particular thing and that is that cutting costs equals pain or uncomfortable actions in many cases it doesn't it's just an awareness thing as I've pointed out before the fact is if it does cause pain it either leads to a grumpy existence or you're going to give up and as I said I don't want you to give up I want you to succeed in retirement and this will help you help yourself so think of this as a game and any choice is the right choice as long as a it reduces your costs and B doesn't change your enjoyment of your retirement your reward for playing the game is that you will have a stack of money at the end of every month the better you are at the game the bigger the stack one final note this video is how to reduce your own costs in retirement not costs that somebody else pays for or that you get for free for example if you live near a major university oftentimes the university will allow folks that are in retirement to audit the class for free no college credit but it's a two thousand dollar class or more and your cost might be a hundred dollars that's the cost for the book so the total cost for you is a hundred dollars not twenty one hundred dollars I'm gonna go through these from the lowest expenditure to the highest expenditure number one being the lowest and number five being the highest and one final point if you were to guess category number five right now many of you would guess the wrong category believe it or not not so write down what you think category number five is and check me at the end all right let's go but before we do please consider liking this video so that others can find the video here on YouTube YouTube uses the number of likes in its algorithm to put a video up in the search results and I want to help as many people as possible in return here's a clip a mini clip of my assistant miles working hard on the script for this video the first category is entertainment the Bureau of Labor Statistics says that the average household spends six percent of their income on entertainment every month that's 240 dollars two hundred forty dollars and seventy five cents actually many activities are free or drastically reduced retirees and retirement that's the way the society has arranged things think about the university example that I gave just a few minutes ago there are literally hundreds and hundreds of businesses that do this because it doesn't cost them anything there are also areas that you can arrange yourself like Sunday dinners with the family switching houses from Sunday to Sunday game night or tennis at the local Municipal tennis courts for example although this is in a big dollar area the impact can be a big percentage of that smaller dollar amount if you just put a little forethought into what you're going to do next the next category is food food represents 12 percent of the average retirement household spending that's 540.38 there are three very easy ways to reduce the costs of groceries without reducing the quality of the food or the amount of the food that you receive none of these require coupons or store sales remember I said that this video is about making things easy couponing is not easy you actually have to cut them out or find them we want to make it simple so that you'll actually follow through but there is one really important statistic that you need to know about groceries statistically you will throw out between 30 and 40 percent of all of the food that you buy at the grocery store one third over one-third actually so the focal point is not getting your food for less although I'll show you how to do that in example number three it's going to be how to consume the food that you actually buy in totality step one is to use a list this is the tried and true method everybody talks about it but I will tell you when I go to the grocery store I seem to be the only one with a list so using a list will help you not buy excess it will help you not buy double on certain items now you say Jeff I never buy double let me ask you a question if you've ever been to the hardware store have you ever bought a hammer how many hammers do you personally own this is a hammer I bought the other day it has a great Hickory handle a hardened steel head it's a wonderful Hammer it's very light and can get the job done when I got it home I put it in my tool chest right there next to three other hammers that look just like it the fact of the matter is people think that two of something is okay because eventually they'll get around to using both but when they get around to the second one it has either expired or they've changed their mind shopping with the list means that you'll be less tempted to buy things that you don't necessarily need and just throw something in the cart because it looks good on the fly but here's the downside of the list it's the single most dangerous part of a list you may be able to buy the right things but you buy them at the wrong time or the wrong amounts and so therefore you buy food that still expires before you can use it and unfortunately the most expensive food is also the food that expires first think about things like sliced meat fruit vegetable Bagels if you like to get fresh Bagels For example just I'm thinking about my own list from today and of course grocery stores now have prepared food so that if you want to buy an entire meal you can and it's available to you to reheat at some point in the future but here's the problem with all that after three days that type of food everything on that list starts to become questionable in your refrigerator after five days it's time to throw it out so that brings me to point number two and it's actually quite a bit of fun if you like to shop then go to the grocery store more frequently and buy less every time that you go instead of buying a dozen bagels buy two instead of buying a pound of deli meat by a quarter of a pound oh and how to use your list in this situation separate it the top half is perishable food the bottom half is staple food and number three the way to save money on the exact same purchases Buy store brands now before you say uh I hear you but listen because this is super important have you ever been to Whole Foods Whole Foods has basically their own store brand and that's just about it it's called 365.
In fact if you go to Whole Foods there's a tagline that people use for Whole Foods I'm not sure if Whole Foods put it out there someone else did it's called splurge and safe now I'm sure you know that Whole Foods doesn't manufacture all of the product themselves they private label all 3 500 items that are under the 365 brand or most of them largely all of them actually but if you talk to the average person who shops at Whole Foods they don't talk about saving money they talk about how great the food is it's organic they get me because they don't do this this or this the way that they package and Market their own products and services the Whole Foods 365 brand is a super brand it's like buying jewelry at Tiffany you may be able to buy the same thing someplace else for far less money but you're buying it at Tiffany while you're buying your food at Whole Foods it's the subject of many conversations the store bag the reusable Store bag oftentimes sits on countertops because it's a display of who you are as a person if you shop at Whole Foods and most importantly the people that shop at Whole Foods generally feel great when they're eating the food they think that they've done something really wonderful for their family and because it's organic they probably have so why do people feel really good about buying private label at Whole Foods but feel kind of funny about buying private label at a store like Stop and Shop well that's a good question because when you buy a private label at Whole Foods you're not buying it to save money you're buying it to get organic when you buy private label at Stop and Shop you're buying it to save money it doesn't feel good when you're buying it or when you're eating it even though private label is generally in fact almost always the exact same great manufacturer as the Branded label products that are out there it's the exact same product in the exact same packaging with a different label and it's right there in every category fresh frozen refrigerated canned non-food items like medicine for example at least over-the-counter medicine are world renowned for having their product placed right next to the exact same product with the exact same manufacturer side by side the difference the label store brands will save you 20 to 25 percent off of the same exact product usually made in the same exact Factory the fact is most people cannot tell the difference but there's one huge exception to this Rule and that is if you are a couponer or super couponer meaning you use coupons and you use those in conjunction with a Store flyer you can save a lot more money by doing it that way if this is your household and this is an obsession with your household it's virtually impossible to beat the one-two punch of couponing and store flyers if you do it right this is particularly true if you buy in bulk you use multiple coupons you buy more than one newspaper on the weekend just for coupons for example but remember what I said this video is about making things easy and that is the opposite of easy so for this video let's stick with purchasing private label product because it's easy how do you know who manufactured the product that you're buying well oftentimes the store will make it easy for you they'll put their product in the same packaging next to the other product and the packages are identical except for the label it would be very hard for a store to have the same exact shape size and let's say plastic content of one package compared to another without actually having it come off the same line if there isn't a side by side comparison oftentimes the label itself will tell you it might say manufactured by General Mills in you name the city and for those of you who are like me if you want to geek out about this stuff there's a website called the private label manufacturers Association I'll put a link to the website in the description below so that you have it there's a lot of really really good information that you can go deep into if you really want to Remember at the beginning of the video I said that there's one category that most people will guess is the most expensive category but they'll probably get it wrong this is that category it's health care a lot of people say that they spend an exorbitant amount of money in health care in retirement now don't get me wrong 13 which is the number 13 585 dollars is the average monthly spend on health care that's not a small number but when I think of someone who says that they spend a tremendous amount of money in health care oftentimes what comes to mind is that they're paying for a lot of the procedures themselves the average is 13 for a household 585 dollars by the way this is broken down into prescriptions co-pays co-insurance services that are higher than usual and customary and unusual treatments that aren't necessarily covered by Medicare or some of the supplements out there so how do you reduce costs in this area well the very first thing to do and this is super intuitive but you get so many people are Pennywise and pound foolish in this area buy the Medicare supplement or the insurance if you're not ready for Medicare yet they actually fits your needs don't buy a high deductible plan if you know you're going to have a lot of claims generally people know when they're going to utilize a health insurance policy because they have been doing it their entire life other people it sneaks up on them but if you're worried about having claims not covered bring the cost of your deductible down and also choose a plan that has co-pays instead of coinsurance these are generally HMO type of plans or PPO type of plans some plans cover foreign travel emergencies for example if you travel a lot that might be something you want to make sure you have on your health insurance plan next category is drugs I would be remiss if I didn't tell you that prescription drugs that are generic cost 20 to 70 percent less than their branded competitors and buying them online is far less expensive than buying them through your local pharmacy some plans cover prescription drugs others give you a big discount if you buy generic versus regular just make sure that you know which is which and in conjunction with that the next piece of advice is study your health care plan and know what it pays completely nine out of 10 people do not know what is covered on their health care plan not even the percentage of the co-pay or the co-insurance on the service that you are receiving and the problem is if you're not looking out for it the insurance provider won't either most of the time so for example if you submit a claim with the wrong code and they deny it sometimes field is never resubmit again they just pay it out of pocket which is a mistake insurance companies routinely pay the wrong percentage and sometimes just deny claims altogether as I mentioned before but being on top of what is due to you will save you a lot of money on health care and under Health Care understand the difference between an inpatient treatment and an outpatient treatment because there's a huge cost difference and sometimes that costs rules down to you last week I spent the night in the hospital for something that turned out to be nothing fortunately when it came time for the decision to be made I didn't fully understand why I was overnighting in the hospital and you would have heard me Mumble some things under my breath as they were Wheeling me upstairs still the emergency room doctor said you need to spend the night the next morning the doctor on duty came in she gave me a clean bill of health and sent me on my way as you get older undoubtedly you will need medical attention from time to time knowing this in advance means that you can plan for it and keep costs down when you have a pre-planned treatment know the difference between inpatient and outpatient and what the cost difference is to you when it's an emergency as it was for me sometimes you don't have a choice but know your options because sometimes you need to overnight and sometimes you don't along those same lines pre-plan your doctor visits Urgent Care visits and emergency room visits now you say how can I pre-plan an emergency room visit it's very simple if you know which emergency rooms take your health insurance with a modest deductible or copay and which ones don't choose the ones that have the modest copay unless you think the treatment is going to be better at a different Center of course and just for completeness I'm going to talk about the health savings account because there's a lot of discussion about the triple tax advantage of one yes it is triple tax advantage going in in and coming out each are done in the most tax efficient way but notice if you have an HSA this means that you have chosen a high deductible health insurance plan and this is great if you don't have claims but the minute you start having claims if you haven't built the cushion in your HSA you're going to be paying those out of pocket Transportation comes in number four at 14 592 dollars this category includes things like your car payment your insurance fuel for your car public transportation meaning buses trains and Subways Etc we'll focus on the most common one here which is your car because this is where you can have the biggest impact in terms of savings the first point to note is that the cost of the fuel for your car can be exorbitant or can be reasonable well in this day and age probably not reasonable but the min max is going to be huge depending on two and only two variables what are the local taxes on fuel and what is the mindset of the owner of the gas station here are two photos that I took this morning at two different gas stations 10 minutes apart the difference is massive and they're both high quality stations one's a shell and one's a mobile you can see that across all categories from regular all the way to premium fuel the difference is at least two dollars if not more per gallon if you have a 16 gallon gas tank can you fill up your car weekly that's 32 dollars per week every single week for me the time difference is worth it the two stations are 10 minutes apart so I always drive to the far station unless I have no choice and have taken it too far my tank is almost empty for those of you that don't know the best prices in your area because it changes from day to day hour to hour sometimes there's a wonderful app called GasBuddy and this is a user driven app meaning when you pull into a station and you look at the price you punch it in or someone punches it in so that it has up to the minute data about what that station is charging of course it's worth noting that stations that charge high prices like say 6.99 a gallon for premium gasoline won't exactly be falling all over themselves to input that information themselves so the users of the stations are the ones that have to do it but the good news is that if the price is exorbitant there's a very good chance that someone will be so upset that they enter the data in the gas buddy in fact many people will be so upset that they enter the data in the gas buddy conversely if it is a bargain if you want to use that term in this day and age they will equally be motivated to enter that data so GasBuddy is a great app and it's absolutely free the next category is insurance let me start off by saying that not all insurance is equal some companies pay claims very well others pay them very poorly they have a very low what's called usual and customary the second type of company will present you with a low ball option in terms of their settlement if you agree you've then settled for a number much lower than your actual cost in many cases some will hold your hand through the entire process even give you a list of preferred vendors so that you don't have any shock costs that you didn't see coming others will tell you you're on your own and then submit the claim and we'll see how you go before you even get into price spend time looking at complaints on the names the insurance companies that you're considering the good news is that we're in the day of the internet so it's pretty easy to find the top 10 insurance companies in category X or the worst 10 in category X once you've done the research and you know which are the good companies and which are the not so good companies then you start Gathering prices and the way to do this is you compare prices as a package and individually for example you can combine your homeowners insurance and your car insurance in many cases and get a discount other times it actually pays to break those up with different companies also let your carrier know if you're retired that you're not driving to work every day because often they charge you your premium based on the amount of miles that you drive if you're talking about automobile insurance gently used cars are generally better than new cars this is because when you buy a car it depreciates quickly but it ages slowly so when you buy a car that's largely depreciated or has had a big depreciation bump but yet has 80 percent life on it you're going to get a great deal and most importantly similarities don't even need cars and in that situation renting an automobile when you need it makes a lot more more sense than owning one for example if you live in New York City you'll probably pay something like this for a car you'll have a car payment that might run 500 a month you have insurance on that car in New York City that might run 300 a month and you have parking costs for that car that might run 500 a month the cost to own that automobile is thirteen hundred dollars a month before fuel the math is probably the same for places like Boston San Francisco and other major cities where you live in the city center if you don't drive regularly and you live in a special situation such as this consider renting rather than owning and you'll save a lot of money I will note though that if you rely on your credit card for insurance and a lot of people know that you can actually get collision insurance on your credit card there are some pretty significant limitations and you should know what those are for example the American Express green card has a fifty thousand dollar Collision limitation it has a 75 000 limitation on the Platinum Card the difference between the two might be the reason to upgrade to the platinum card if you're considering one versus the other it also pays to know what's covered and what's not Beyond just the dollar amount for example if you have a car and you have insurance you lend a friend a car they are covered by your insurance usually if you lend a friend your rental or your spouse or a family member and they're driving and they're of age and you get into an accident most of the time your credit card company will not pay for the damage that they were part of and the single most expensive Area Housing that's number five as I said at the beginning of the video a lot of people would have thought that Healthcare was the single most expensive category simply because of conversations they might have had with other people but remember the college example that I gave somebody pays for it but not you in this case if you have insurance the insurance company is going to cover a lot of the costs Medicare Medicare supplements Etc so even though you may go through and spend several hundred thousand dollars in retirement on medical costs most of that is covered elsewhere housing represents fifteen hundred seventy three dollars or thirty six percent of the average retirement households monthly spend this number includes things like a mortgage payment if there is a mortgage payment May maintenance electricity gas Etc how do you reduce this well let me begin with the one that everybody talks about but is virtually impossible to action at least at a point in time and that is to pay off your mortgage it is true without a mortgage you don't have a mortgage payment and that can be a very big number in retirement but and this is a huge but if I was to say to you today if you have a mortgage okay go out and pay off your mortgage and you'll be good to go most people couldn't actually do that without doing something like liquidating their 401k and even then they might not be able to accomplish that task paying off your mortgage solves a lot of problems it's a great goal but let's assume that you can't do it at a point in time but you're going to have to do it over a period of time and let's focus on the easy wins on this video if you want your housing costs to go down first of all you can move to a smaller home this automatically reduces consumption your utility bill could be should be less assuming that everything else is equal your maintenance and insurance should be less and the upkeep of your house should be less if you want to bring the cost down further research low-cost areas outside of your hometown there are a lot of towns in this country that are far less expensive than where you live today more than likely and if you really really want to reduce your costs you can leave the country there's a lot of benefit to doing this for example if you go to Costa Rica or other places around the world the cost to live there are a fraction of what they are here in the United States but let's assume that you don't want to leave your town another option is to move into a community of 55 plus at some point you'll probably do it anyway at least you'll certainly consider it a lot of the costs associated with maintaining everything from Landscaping to Mechanicals within the broader Community are covered by a homeowner's payment you're spreading that cost amongst 40 50 60 hundreds of different families in many cases and that makes your cost go way down but let's say that you don't want to do any of that you want to stay exactly where you are well at the very least talk to your town your local municipality the place where you pay your taxes and let them know that you're retired and you won't be using the school system more than likely and they in turn may give you a break on your local taxes and if you're entering retirement and you have an older home just make sure that all of your appliances are up to date and everything from your air conditioner to your heating unit is cleaned modernized a roof of course as well as the other related items that you have to pay for in their big ticket not only will new appliances save you money on your utility bill but also you won't have repair bills at least for a while now you'll notice this video is a little longer than most of my videos most of my videos are somewhere between 6 and 12 maybe even 15 minutes that is because this video has a lot of information that is really powerful so if you know someone that needs this information there's a forward button at the bottom of the screen make sure you click forward and send it on to them you can do it in so many different ways also check out my video from a few weeks ago on 10 ways to completely blow up your retirement it's turning out to be one of my most popular this is Jeff Schmidt thanks for watchingRead More
You want to understand about IRA withdrawals, huh? Hey there invite back to my channel! Today we'' re gon na be discussing IRA withdrawals. When'' s the ideal time? What are some considerations for the taxes? And exactly how does that really function? Yet prior to we get right into that. have you signed up for this network? Otherwise, do so … with bells on! There'' s a little bell icon as well as whenever I produced a new video clip you will certainly obtain a notice. Individuals frequently desire to recognize when they can tap right into their IRA that private retirement account that they have conserved up. Perhaps there was a good little nest egg there and they have a certain purchase that they are wishing to make. The ideal time for you to be taking cash out of your IRA seeks age 59 1/2. So some points to remember as you take cash from your IRA 2 things particularly. Of all when you take cash out of your Individual retirement account, allowed'' s claim you took out ten thousand bucks, it'' s as if you had functioned at a job that paid you $10,000 in that offered year.That money
that you'' ve taken out is going to look like normal revenue, so that'' s the type of tax obligations you have to pay on it. Currently you put on ' t have to pay payroll tax obligations yet you still owe government, state, as well as probably regional income. If you are under the age fifty 9 as well as a fifty percent and you take out that money you'' re possibly going to owe a ten percent penalty.Now there are
some ways that you can stay clear of that ten percent fine so long as you are utilizing that money for some particular factors– off the top of my head 3 factors that come to mind are first time house purchase, clinical costs, paying for higher education. There are some other exemptions I will place a web link in the summary listed below. There are some individuals that recognize that there'' s some taxation that happens when they take cash out of their individual retirement account therefore they determine not to take cash from their individual retirement account as long as feasible. Got ta prevent Uncle Sam? Right here'' s the offer, the IRS has actually provided specific tax obligation incentives for you to place money into this individual retirement account. If you don'' t beginning to draw that down prior to age 70 and also a half then they start mandating that you start taking cash from that account. This is called a needed minimum circulation and also this subject deserves its own video clip – so remain tuned for that. Just how precisely do you take cash from your IRA? It might take two things: first a call to your expert they may be able to make that circulation on the phone.The other choice is that you can authorize a kind. Simply ensure you ' re leaving enough time for your economic adviser to ensure that you'' re not both under stress and anxiety on taking cash out of your IRA. One nice aspect of your individual retirement account withdrawals is when you go to take that circulation you will be eligible to keep for tax obligations. What that indicates is, if you currently recognize that allow'' s say you ' re in the 20 %tax brace and also you'' re below age 59 as well as a half and also you understand you'' re gon na have that 10% charge. You can presume concerning a 30% government tax obligation. So when you go to take that IRA distribution, you can inform the banks that you wish to hold back 30% for federal tax obligations. This way you wear'' t obtain a major sticker label shock for that tax bill owed at the end of the year. You truly intend to stabilize 2 things you don'' t wish to take cash as well early from your financial investments you desire to stay clear of that 10% penalty.And allow '
s encounter it, this is mosting likely to aid you money your retired life so you wish to keep your hands off of it. On the various other hand some of us in retirement live at a lower expense of living … eventually you will certainly have to begin taking cash from that as well as it'' s going to look like taxed income. There is some approach that can be put into place particularly in between your ages 60 and 70. Alright buddies, that'' s all I have for today. Thanks a lot for adjusting in, I value it as always! Is any person chatting to you about your approach for IRA distributions in retirement in between ages 60 as well as 70 particularly? particular? Due to the fact that if not I would like to have that discussion and also allow'' s link. You can see my internet site www.pleasantwealth.com as well as discover a means to have a phone telephone call with me.So with every one of that great IRA distribution details I will certainly leave you. And also you take treatment.
Today we'' re gon na be speaking concerning Individual retirement account withdrawals. There are some people that recognize that there'' s some tax that takes place when they take money out of their IRA as well as so they choose not to take cash from their Individual retirement account as long as possible. Below'' s the offer, the IRS has actually offered specific tax obligation rewards for you to put cash into this specific retirement account. If you don'' t beginning to attract that down before age 70 as well as a fifty percent after that they begin mandating that you start taking money from that account. Just make sure you ' re leaving enough time for your economic advisor so that you'' re not both under stress and anxiety on taking money out of your Individual retirement account.Read More
Everyone bill Lessman here for money evolution calm in today’s video I’m gonna be talking about what I call the seven core elements of retirement planning so if you’re somebody that wants to get more serious about the planning that you’re doing for retirement then I think you’re really going to enjoy this video now if you’ve watched any of my other videos maybe on my blog or my youtube channel or Facebook page then you probably have already heard me talk a little bit about some of these seven core elements individually what I plan to do in this video is really bring them all together really show how each of these seven core elements are all interrelated and hopefully at the end of this video you’re going to have some information to help you make some more well-informed decisions about your own retirement but real quick before I get into the presentation I wanted to draw your attention to a free guide that I put together it’s the seven core elements of retirement planning guide and in this I have all of the information or a lot of the information that I’m going to cover here in today’s video plus there’s some great worksheets that you can complete on your own to really help you get a good start towards putting together some of this planning for yourself so to get access to that guide I’m going to put a link right below this video if you click on that link it’ll take you to a page just put your email address in there and we’ll go ahead and send you out that guide I’ll wait here and I’ll see everyone back here as we get into presentation okay so welcome back so if you’re starting to do some planning for your retirement whether retirements may be coming up in the next year or two or even if retirements still a few years off into the future you probably realize already that there’s a lot of different aspects of your retirement and that’s what we’re gonna be talking about here so let’s take a look at these seven core elements so number one on the list is we need to understand how much your retirement could cost and what we call identify your gap the second thing on the list is we need to know where to save money obviously there’s lots of choices there’s Roth IRAs there’s 401k plans traditional accounts so we need to know where to save the money based on your own personal situation and your own individual tax situation we also need to talk about Social Security obviously that’s going to be a big component for many of you watching this video is when to collect Social Security how to coordinate your Social Security benefits with your spouse if you’re married so that’s very important health care that actually may be what I think is one of the most underestimated or overlooked retirement expenses that’s out there and there’s a lot of information that you need to understand about health care so we’re gonna talk about that a little bit here we also need to look at 401k plans so you might have a 401k you might have a 403b plan at work or some other employer sponsored retirement plans we need to know how to best take advantage of that 401k plan there’s a lot of features that a lot of people may not fully be aware of that could be inside your 401k plan so how to take advantage of that is certainly very important we need to create a plan for income so if you’ve been investing for your lifetime and while you’re working you were in what we call the retirement accumulation phase once you go into retirement we need to think differently we need to look at how to plan for withdrawals on your portfolio we need to look at things much much differently for that and then finally the last item on the list is investments choosing the investments that are gonna fit within your individual retirement plans and to help you achieve what your retirement goals are unfortunately this item here that we list as number seven on the list is oftentimes the one that people look at first in fact if you turn on the business channel you look at CNBC or you open up the Wall Street Journal or read pretty much any financial publication if you flip through the pages a lot of the discussion a lot of the advertisements are all pushing you towards certain investments they’re talking about returns and the performance of this fund versus that fund they’re talk about mutual funds they’re talking about annuities exchange-traded funds they may be talking about costs you know in looking at low-cost options and they would have you believe that really this is the most important thing that you need to be thinking about regarding your retirement and certainly the investments are absolutely very very important but we want to look at these investments after we’ve already addressed these other seven core elements and if we start here with investments a lot of times we can kind of get distracted we can get thrown off course a little bit because we really haven’t put into thought here how those investments are gonna fit within your your own individual retirement plan but once we’ve addressed those seven core elements and we start choosing investments now we have a clear vision for what we need those investments to do and what we want them to do to create your plan for income and to create the retirement lifestyle that you want so we’re gonna get into each one of these here in a little bit more detail and I’m gonna again start to show you how each one of these seven core elements are gonna be interrelated with one another okay so let’s start right here in the middle what we want to do here with this very first core element is we want to try to understand how much your retirement is going to cost or could cost and we also want to identify how much of a gap you have between where you want to be for those retirement goals versus where you are today and what I like to refer to here what I like to think about is begin with the end in mind so here’s your retirement and what I want you to do is start thinking about what it is that you think your retirement is going to look like for example what will your housing situation be do you plan to stay in your current house do you plan to downsize homes do you plan to spend winter someplace warm you also want to think about the things that you want to do in retirement so you can have a lot of free time you’re not gonna have to go to work anymore so think about the hobbies that you plan to do you plan to play golf every day or do you like to travel and start thinking about how much some of those expenses are going to be and you also want to look and see okay so basically what is your current situation how much are you saving for your retirement how much money do you already have saved for retirement and what we want to look at here and I think this is very important that a lot of people may tend to overlook essentially is that we have a trade-off basically we have our lifestyle that we have today versus that lifestyle that we want to have in retirement and if we think about this for a second here if we spend all of our money today we don’t save anything for retirement we’re gonna have a great lifestyle here today but that retirements not going to look very good contrary to that we could be saving a whole bunch of money for retirement putting away all kinds of money but that may be sacrificing that lifestyle that we have here today so I want you to think about that a little bit in terms of what are you trading off and I think there’s a lot of people because they haven’t maybe done some of these calculations they could be in a position where they’re saving almost too much money for the retirement they’re really sacrificing and giving up a lot of things today and there’s a couple of different categories of this there’s there’s things that of course we have our money that we’re saving so if we save more money today that’s less money that we can have for the future for that retirement but we also have time as well and so what I mean by that is we may be working ourselves putting all kinds of stress on our on our health on our situation by maybe working a whole bunch we’re saving a lot of money for retirement but we’re really sacrificing that quality of life here today and so be thinking about all of these different aspects not just the financial aspect of how much you’re saving but think about that think about like I said your health – and are you taking care of your yourself from a health standpoint as well because by the time we get to this retirement we want to have healthy bodies we want to be able to go out and do those things be able to play golf in and live that retirement lifestyle so again this is at the very center of these seven core elements and everything else is going to be interrelated to what this retirement gap is actually going to be and and how that’s going to affect that future retirement lifestyle okay so now that you’ve hopefully uncovered what this retirement gap is and you’ve really kind of gotten an idea of what your retirement cash flow is going to be and cash flow is something that we refer to a lot here on some of the videos that we do but really it is the lifeblood of not only your retirement situation but also your current financial situation it’s basically money coming in versus money going out and almost everything else on this list here is going to in some way or another affect cash flow the other thing that I want to talk about here before I start getting into each one of these seven core elements and a little bit more detail are taxes now when I created the seven more elements I thought a lot about how to include taxes should that be its own separate element and what I ultimately decided was that taxes are certainly very important and it’s a big part of what we do here in terms of some of our planning but what we’re going to talk about is we started looking at these seven core elements as we’re gonna look at how taxes are going to influence a lot of these different categories here okay so let’s start right off the bat and let’s talk about where to save money and obviously we have lots of choices we have Roth accounts like Roth IRAs you even have Roth’s 401k plans now and you have traditional accounts and and for retirement savings those are probably two of the most primary areas and basically that’s a big decision for a lot of us and what we really need to uncover is what is our tax situation likely going to be in the future versus what is that tax situation going to be today and again it goes right back here to this cash flow and understanding what those gaps are and what does our current situation today versus what is that situation going to be in the future so the Roth is going to be favorable if we think we’re going to be in a higher tax bracket in retirement than we are today and the traditional account is going to be more favorable if we think we’re going to be in a lower tax bracket in the future so we want to look at that the other thing we want to take a look at and I’ve actually got a entire video on our YouTube channel where I talk about this is investments for retirement in non retirement accounts and I go into a whole huge explanation as to why I think that is really just wasting a lot of money when it comes to to taxes there so again uncovering what those gaps are is going to help us to figure out where should we be saving money what’s going to be the most optimal for that future cash flow situation and for our current tax situation let’s look over here to Social Security again that’s going to be a very big component we could take Social Security benefits as early as age 62 or we could delay Social Security benefits to as late as age 70 and basically there’s a lot of decisions to make there again it’s going to come back to understanding that cash flow so there’s a lot of be out there talking about how to maximize social security benefits there’s even some calculators that you might be able to find out on the web what often times is missing from some of those calculators is how that decision as to when to collect Social Security is going to impact that cash flow situation and contrary how that’s going to affect your tax situation as well so we need to look at that and there’s also gonna be a coordination of benefits that you need to take into consideration if you’re married and you have a spouse because you might decide that one of you collects Social Security benefits early to get a little bit of cash flow coming in but maybe the other spouse is going to wait and delay those Social Security benefits whether or not you’re going to be working in retirement is also going to impact that and impact the potential taxes that you’re going to have on Social Security health care I talked about this here a few moments ago where health care I think is one of the most underestimated expenses in fact according to a recent survey or study by fidelity investments they determined that an average couple retiring this year that 65 years old could expect to spend two hundred and forty five thousand dollars on health care related costs over their retirement lifetime so that is a huge number a quarter of a million dollars just to cover and fund our health care and that does not include by the way any potential nursing home expenses or long-term care expenses so that’s a big deal we also need to consider health care for any of you that may be planning to retire before Medicare that starts at age 65 so you need to look at how your maybe employer benefits if you have any that are going to continue into retirement how that’s going to come into play or if you have to go out into the exchanges and go out into the Affordable Care Act in fact actually according to the Kaiser Family Foundation they put together some great research on this health care stuff but they actually said that a 64 year old couple could expect to spend about seventeen thousand dollars a year on their health care premiums for a policy that kicks in before Medicare starts and that still leaves them with about a sixty six hundred dollar out-of-pocket expense that they could have in addition to that $17,000 so that is by no means a top-of-the-line gold playing effect that’s actually a silver plan kind of in the middle there but you can see if you want to retire prior to age 65 that that can start to get pretty expensive the other thing here too again taxes are going to also influence your health care as well because your Medicare premiums are going to be largely dependent on what your taxable income what that adjustable gross income is for the year so the higher that is the more likely you are to be paying on your Medicare premium so again understanding that cash flow and understanding what that future cash flow is going to help you hopefully make some better decisions regarding healthcare as well your 401k plan is going to be another one of these seven core elements that you’re going to want to optimize unfortunately in my opinion I think a lot of 401k plans have really kind of watered down some of their investment options here over the last several years but there’s a couple of things that you can still do to hopefully optimize or maximize some of the benefits that you have on your 401k plan so one of those things is you can go all the way up to eighteen thousand dollars a year in contributions if you’re under 50 years old and if you’re 50 years old or older that number can be as high as twenty four thousand dollars a year and most people probably just understand that these are the limitations of the 401k plan but some 401k plans in fact more and more are offering this feature you may have access to an after-tax savings account within your company sponsored retirement plans and that could allow you to go all the way up to as much as fifty four thousand dollars a year in total retirement account contributions and that’s going to be a combination of your contributions plus any employer match that you might be getting can be as high as fifty four thousand dollars so that can allow you to extend even further some of the contributions that you’re making inside the 401k the other thing that a lot of 401k plans are offering now is something called a self-directed account and that is an option that you could have inside your 401k plan that could give you access to literally thousands of additional investment options that are not of the main 401k menu so again not every 401k plan is gonna have these features but you want to definitely look into it and see if that’s something now your self-directed account that may not be for everybody either because there’s going to be a little bit more research and a little bit more due diligence that you’re going to have to do on choosing investments but it could be a great option for somebody to get some additional resources in that 401k plan and then the last thing what will the second the last thing we want to talk about here are planning for income and again we talked about this a little bit earlier that you’re in a much different stage of life once you start going into retirement and you’re gonna start withdrawing or taking money out of some of these investment accounts and something we call the sequence of return starts to become a very important factor so if you think about it like this you know the market obviously is going to go up and down over time and when you are in the retirement accumulation stage of your investing as the market was maybe going through these these these motions as the market was maybe going down you were continuously hopefully making new investments into those accounts as the market was dropping and but the opposite happens though when you go into retirement if we go through a downturn and you’re withdrawing money out of those portfolios that’s going to have a very negative effect or can potentially have a very negative effect so we definitely need to take that into account but what we need to do before we do that is we need to understand what this cash flow is and understand where those gaps are so once we understand where those holes are in your financial plan and we know that in certain years you need to take a certain amount of money out of your retirement accounts then we can plan for that accordingly and sometimes what we do is we use what we call a bucket strategy and we just usually divide the portfolio into three buckets and we want to have some cash reserves maybe one to two years worth of cash needs in a very liquid very safe bucket so that when you do need to take money out you’re not having to withdraw money from volatile investments that could be invested in the stock market you also may want to have kind of this mid-range thing maybe three to four years or three to five years worth of money that’s in a my liquid bucket that’s still going to be on the more conservative side and maybe some of those investments are going to pay some dividends or some interest to help you refill that that first bucket and then finally over here is your long-term bucket and that’s gonna be investments that are gonna hopefully keep up with inflation provide you with some growth that hopefully if you’re in retirement for what could be 20 years or maybe 30 years in length that you’ve got some growth vehicles there but we want to think and break down this down so that you have a plan for income and keep in mind that if you don’t have a plan for income the government has one for you it’s called the required minimum distribution rules and so you may know that after you turn 70 and a half you need to start taking mandatory distributions every year from your IRA accounts in your 401k plans as part of this RMD so having your own plan is usually going to be better than reverting back to the government’s plan and then finally we talked about this earlier the last thing that we want to look at is the investments that we select and again once we’ve answered all of these other issues we’ve looked at the six other core elements then actually choosing the investments becomes pretty easy because now we know what investments are gonna fit into our buckets as an example which investments are going to be able to provide that income or those distribution needs which ones are going to be appropriate for your tax situation that are gonna you know help you you know plan for your Social Security your health care and all of that and then we can start looking at different investments that are going to fit into that retirement plan okay so there you have it those are the seven core elements of retirement planning and hopefully you’ve gotten some great information here out of watching the video here today and hopefully you’ve gotten a pretty good idea of how these seven core elements are all interrelated to each other and how making a decision about one item such as social security or healthcare or choosing investments why that doesn’t necessarily live in a vacuum and how maybe tweaking something over here might have an influence on something over there and so really bringing everything back to cash flow is really very critical so you understand how you know making a change in one category of your retirement planning you know might impact something else so again hopefully you’ve already downloaded the guide take your time look through some of the information in there we try to be very thorough with some of that we’ve got again some great worksheets that are gonna help you really get a good start on putting together some of these retirement plans and certainly think about what you want that retirement to look like also – for some of you you may want a little bit more help and of course we do that we offer a comprehensive cash flow based financial plan that can take a look at this and we will address not only your cash flow today but what that cash flow is likely to be in the future based on what you’re currently doing and we can also start to look at each one of these seven core elements and look at how each one of those is going to help you achieve those retirement goals and even if retirement still a little bit more often in the future if you’ve been saving money or maybe you’ve been putting off some of the planning that you’ve been doing again this is something that can help put you on a good track towards making you better well informed about getting retirement planning done
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