Відео

You can transfer your roth to another roth fund under a different name?

35 with 5 kids low debt no credit I need a million dollars and some miracles to retire

I don’t understand how people assume that money invested in the stock market is guaranteed to grow indefinitely. Everyone assumes that the stock market is, by law, supposed to yield positive returns. The only thing that is guaranteed to grow is the U.S. sovereign debt that erodes the value of money. Markets are so overvalued right now, I don’t see how this bubble can get any bigger, but obviously it can and probably will until it can’t.

Oh well they better suck it up!! 😂😂😂

Why not spend your Ira’s and 401k’s first before spending your after tax brokerage account?

Damn right, great idea.

Gift it to them.

I hate to be the bad news guy, but I do recall the irs says it has to come from their own COMPENSATION, Um 7k gift is not really Compensation but the again my IRS Crystal Ball has a few cracks in it :) I too would like to fund my age 4 daughter but obviously she has no compensation either. Open to suggestions even from Pablo :)

Thanks a lot for the info

But they can just put it in a ROTH after the 10 years. It should grow either way. And you control it until you die.

What a nice guy! I ordered his book. It seems like a lot of work to manage all your assets but if you’re retired you’ve got time.

Heath and Money

Challenge the kids to fund half and then parent will match them. This way they have skin in the game. If they touch it, then the matching and deposits stop.

If she touches it, then the deposits stop.

I've been thinking about this for years but haven't pulled the trigger.

Interesting idea. Wouldn’t the 59.5 years old come into play and 10% penalty if taken before 59.5 where an inheritance doesn’t have those rules….

Pablo! So glad to hear he's ok.

I am 62, single, no kids, ZERO debt and right at $1 million in retirement savings and I am still not comfortable retiring with this amount.

Whos name appears on a brokered CD as the owner/depositor? Some of these brokered CDs are from credit unions where you must be a member. And buying a CD at a new bank involves a lot of paperwork, something that is not required with a brokered CD. My brother who does buy non-IRA brokered CDs tells me that he gets a 1099I from the broker and NOT the bank. And unlike bank CDs, you can trade brokered CDs. All this tells me that brokered CD are NOT in my name but the broker's name. Why does that matter? I would assume that most investors are going to chose a FDIC insured bank's CD with the highest rate. And what is preventing the broker from being lazy and buying one million dollar CD and selling parts to individual investors. In that case, that one CD is ONLY FDIC insured for $250,000, NOT the 1 million invested. How do I know my CD investment that could be combined with hundreds of other investors in the same CD, is fully FDIC insured?

How about keeping the money in your Roth and adding the kids as a beneficiary? A step up in basis with no taxes and no ten years.

If I put it into my child's Roth, why would my date of death matter anymore? I'm not following.

I think it’s better for young adults to make their money as a learning experience. Perhaps after they demonstrate maturity.

Brilliant! I like this idea, particularly giving the adult children tax deferred for them to add to a Roth. My parents have given each of their 4 adult grandchildren the 15K max annually (60K in total giving). They told me the grandchildren are not in their will so wanted to give them $ now when they need it most. My sisters and I will be beneficiaries of their will so we can pass on more when our time comes. Fortunately, my two adult children are very responsible with money and their life choices.

While we don't fully fund the granddaughters Roth we do match. After a yet to be determined number of years of her showing the dedication to get the match we will likely start doing the entire contribution. In early Dec she shows a statement with her contributions and we transfer that amount to her bank so she can make the purchase. I know she can choose to not invest it but so far she voluntarily shows us the end of year statement without asking. The other granddaughter is only 15 and we already have a feeling things will not go a smoothly with her. May have to rethink the rules of engagement.

All the aluminum guys retiring! Fritz and Joe Kuhn. Wonder if they knew each other when they worked.

If I retire this year I will be 65 in October I think I'm going to receive about $1,800 a month$20,000 in the bank can I draw food stamps

I invest in my TSP and instead of a Roth, I ladder CDs. I usually buy a new one or rollover one every month.

Here's for Chloe's Roth......Thanks!

I'd like to do that, only problem is I don't trust any kids to not withdraw the contributions.. One of my friends was just given a joint account with like 50,000$ from their parents, they just made terrible investments in a time when literally everything else is just going up.. They still have money but just giving kids money is dumb because then they don't value it, so they never build the habits that many people who live with a scarcity mindset develop because they don't have everything they need. I'd rather do this: Every dollar my kid(s) contribute to a Roth I'd match it UNDER the expectation they never withdraw it (I get to view statements at the end of the year before adding to it). They'd value the time and effort put in for the money they added and they have a strong reason to never touch the money, or they effectively lose out on up to a couple of thousands of dollars for free every year..

So, you remove the money from your Roth IRA and then give it to one of the kiddos, is the money not subjected to a gift tax?

First 🎉

Hey Josh…great video. I looked at Open Social Security…I’m confused on the calculations. Can you create a video explaining the math?? The retirement age didn’t change if I were to just change my birth year….it stayed at 65.5 years old to claim…I’m about 18 months older than you…married. Thanks!

Fritz gave his wife's age away. I guess he will be sleeping on the couch tonight!

@

This guy seems nice, but making a statement like this should push you elsewhere. I have been in finance for 23 years and I can assure you that you can retire on $2.5mil.

Does anyone compared houses back and now. I hear so many complains about cost but they forget that back in the day, house was 1000sq/ft , no isolation, single glass windows, one bath etc.

The 8 years between 62 & 70 could be some of your best if you still have good health. Everyone has to assess the situation for themselves as it truly is a private decision.

6.625% last week

Yes Fritz!

Let’s see. Save more, work longer, buy long term care insurance, buy more annuities. Reads like a financial retirement industrial complex revenue grab not a retirement plan.

2 warnings 1. Very expensive. $ 6,000 a month in NY suburbs to start for just room and board. Anything else is extra. Diabetic cousin on oxygen was $15,000 a month. 2. It is the most insecure living arrangement. You are not a tenant, but legally a hotel guest. Go in at 85 but if you are frailer at 92, they can boot you with 30 days notice. You have no lease. Now you are older, frailer, pooret and homeless. Beware.

You don't need a million dollars to retire......but it helps....it does help😂

The Social Security Fund was intended for elders retirement and healthcare not for SSI and SSDI beneits where the fraud is huge! and why elder's are not getting what we paid for all of our lives

Finally someone brings sanity to this topic. Thank you!

I have a pension coming , thank God. I was born in 1970.

5.5% is pretty sweet with little risk.

None of this is me. Started in companies 401k plan at age 21. That was 1980. Still working at 65 at a job I love. Not drawing social security yet or on my converted IRA Account. I have no mortgage and no bills other than the normal utilities, property taxes and insurance. Sure I guess I could say save a little more, but I am not hurting for anything. I even think I was dealt some pretty good genes as all my family except for one lived to their 80's and 90's. Why do I love my job so much? Well I am at work watching and commenting on this video. It doesn't get much better than that.

Be fearful when others are greedy. Buffet

What is way-way up will go way-way down. Confucius

Buffett knows he doesn’t have much life left so he doesn’t want brk stock to crash when he dies