Protect Yourself From Running Out of Money in Retirement

Comments · 669

• GO

  @GoodwalkSpoiled · 2 years ago

  Regarding withdrawal rates and the fear of running out of money, these planners all fail to realize that seniors don't need to spend very much $ to be happy.  The planners are too young to understand.  Life is not linear.  Nor are physical and mental health.  Everyone 70+ is on borrowed time.  Just being healthy is 90% of fulfillment.  The rest is being mentally alert.  If you're healthy and have your wits about you, life after 70 is just fine.  Having excess $ doesn't mean a thing, except to greedy heirs.  The financial industry paints a ridiculous picture of wealth, security and contentment in old age.  In reality, nobody > 70 is trying to impress anyone, or compete - unless they're nuts.  Older folk want health and a sense of purpose.  Beyond that it's superfluous.

  792

• JA

  @jaybass3522 · 1 year ago

  To those people who feel they don’t owe their kids anything and should not plan for their kids’ financial security, remember we boomers easily built wealth—subsidized college degrees, employer contributions, 7% market rises, real estate appreciation, some of us even got pensions—and young people don’t have the same opportunities. I for one will absolutely try my best to leave them something when I pass on. Also it’s cultural. They are my legacy.

  39

• MA

  @markbernhardt6281 · 2 years ago

  About kids... Always place the mask on yourself before helping others.

  122

• ST

  @stemikger · 2 years ago (edited)

  I'm 59 and turning 60 this June.  I got laid off with a bunch of other people at my firm.  I was a little down (for about a day) because I was one of those people who did the right thing over the last 30 years.  I'm now retired and love it.   I say that because over those 30 years I was a personal finance junkie and listened to all my financial mentors (John Bogle, Warren Buffett, David Bach, sometimes Dave Ramsey and now J.L. Collins) and this guy is the best new financial expert I have seen in years).  It's nice to see these younger guys helping the new generation.  Bravo, Bravo, Bravo and so well done!

  192

• IT

  @itwillchange · 2 years ago

  This guy is one of the best ive listened to.

  86

• AM

  @amytherese8402 · 2 years ago

  I'm 46 and had to pay for my own car and insurance at 16 and worked all through high school and college. In my experience,  people around me who didn't have  responsibility instilled lack motivation to work as kids and struggle to take care of themselves as adults.

  119

• WA

  @WallaceDunn · 2 years ago

  End of life medical expenses will deplete savings quickly. Leaving the surviving spouse living on SS alone.

  41

• PA

  @pataleno · 2 years ago

  Nothing gives me more peace than knowing if I die today my wife and kids will be financially good. Not super wealthy but they will never go short.

  11

• DE

  @debbiedavis943 · 2 years ago

  Great video.  You and Zac explain things really clearly.  As a retiree, I think one thing Zac might have added to his list of how to protect your retirement would be to do everything possible to stay as healthy as possible by paying attention to diet/exercise and other self care.

  38

• CH

  @chuchiyang7031 · 2 years ago

  Amazing! THANKYOU guys. So tired of fake gurus. Thank you soo much. It is refreshing the YouTube ai is now feeding me something real

  23

• CA

  @CaedenV · 2 years ago

  Dude! This is the 3rd of these videos I have watched, and they are gold! And wile these videos are long, they don't feel long. They could absolutely be longer and I wouldn't mind at all!

  65

• JI

  @JimmyTheGreek2000 · 2 years ago

  <a href="https://www.youtube.com/watch?v=flCDgSy25e0">00:00:00</a> - Rules of Thumb Problem <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=460">00:07:40</a> - External Factors Outside Your Control <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=499">00:08:19</a> - Longevity Risk <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=608">00:10:08</a> - Investment Risk <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=659">00:10:59</a> - Sequence of Returns <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=1605">00:26:45</a> - Inflation Risk <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=1907">00:31:47</a> - Rise in federal and state tTaxes <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=2114">00:35:14</a> - Summary of External Factors <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=2228">00:37:08</a> - Internal Factors Within Your Control <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=2364">00:39:24</a> - Live for the Future - Fear <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=2627">00:43:47</a> - Overspending - Lack of Discipline <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=2784">00:46:24</a> - Adult Children - Love <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=3077">00:51:17</a> - Structure of Income - Knowledge <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=3094">00:51:34</a> - Ripple Effects of Decisions - Knowledge <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=3232">00:53:52</a> - What You Can Do to Prepare <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=3379">00:56:19</a> - Now and Later vs Multi-stream <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=3487">00:58:07</a> - Common Stocks <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=3748">01:02:28</a> - Now and Later Bond Ladders <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=3914">01:05:14</a> - Fixed Index Annuity <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=4047">01:07:27</a> - Fixed Rate Annuity <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=4156">01:09:16</a> - Bond Fund Portfolios <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=4329">01:12:09</a> - Pension-Like Annuity <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=4511">01:15:11</a> - Annuity Riders <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=4607">01:16:47</a> - Multi-Stream Bond Ladders <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=4690">01:18:10</a> - Dividend Stocks <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=4847">01:20:47</a> - REITs (Real Investment trusts) <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=4969">01:22:49</a> - Selling Stocks at a Loss <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=5144">01:25:44</a> - Asset Allocation Drift <br><a href="https://www.youtube.com/watch?v=flCDgSy25e0&amp;t=5379">01:29:39</a> - Getting Help

  43