Views : 56,709
Genre: Nonprofits & Activism
Date of upload: May 2, 2024 ^^
Rating : 4.771 (70/1,154 LTDR)
RYD date created : 2024-05-18T03:34:19.463614Z
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Top Comments of this video!! :3
It's empowering to know that planning isn't just about numbers but also about envisioning the kind of life I want to lead.
Thank you for demystifying financial planning and making it feel accessible. This talk is a nudge for me to start taking active steps towards my future financial wellbeing. ❤
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I amassed a certain amount and I retired fully at 40. I don't have a ton, but enough to work with. Now at 51 I have seen the world and looking to downsize my house to a smaller townhouse or condo and enjoy what is left :)
I roughly looked at my numbers but I handle my own finances and have done pretty okay. So not stressing about it too much. It is what is it :) . I don't have a pension, just some savings, a property and wherever SS ends up giving me
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I've been circling around the idea of retirement planning without really knowing how to approach it or how much I actually need to save for a comfortable life later on. Your discussion on balancing sufficiency with excess has given me a clearer vision on what 'enough' might look like for me. Thank you!
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The 375 ignores the state pension, so you need less. Also factor for a 25% drop in expenses after 75. So this reduces what you need to save. How much do you need to pass on to children, if not much then you can eat into the capital and so reducing the amount needed to save. A good message that you need to save and in the most tax efficient way. But the figures quoted are excessive in my opinion. He is a finance person who will make a percentage on what you save so it's in his interest to get you to save more. I'm not saying don't save well into a pension but look deeper into this field to get a more realistic figure
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@OneAndOnlyMe
2 days ago
From experience, the hardest part of building up the million is the first 100k. Once you get to the first 100k, each subsequent 100k is much easier and faster because of the compounding effect. The way I got to the 100k was to break it up into 5 years and set myself a goal to save 20k each year. To many even that may be difficult, but it is doable if you are on a reasonable income and are willing to cut back on luxuries for five years.
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