with less than 100000usd, one can retire beautifully, not in america anyway. when it comes to retiring, i think one need to think smarter. i would prefer to retire in a place that's laid back, affordable and easy. my country would be good to retire in, and with even 50000usd, one can live like a king in ghana till death do u apart.
Love your videos...I'm 55, semi retired, house paid 4, cars paid 4. $2.7 Million, 2 retire. I spend $35k a year. but you must factor in inflation. In 1 business I make $300 profit per sale, so I must sell 450 units a year or 37 units a month, so my written goal 2 a day, which EZ. & if I reach 2 by 10am I don't stop I keep going...I must sell 10,000 units, 2 retire. SUCCESS SECRETS 1. Written Goals 2.Self-Improvement 3. Action! Studies prove this is the difference between winners & loser!
@HealthWealthCanada If your house and car are paid off, you have no debt at all, and you don't go buy a massive motorhome to tour with.... you won't need 3 million. You won't even need 1 million. I'm not sure where you pulled that 3 million number out of.
@Pullingmyselfup Correction... YOU might need it with the lifestyle you want to live. I meant that the minimum amount to retire for a person in North America is not 3 million.
@Pullingmyselfup were estimating no home or any investments,.. pure networth all together. if you live modestly you can live a middle class lifestyle until you expire.
500,000 grand is plenty!!I I can build a Eco village for a fraction of that and have no need for money. It's called sustainable living, off the grid. There are good books about this. There is no more need to chase big financial numbers for retirement just to remain a consumer on the hamster wheel.
I don't want to retire; I plan to work forever. Even if I become a multi-billionaire I would still work. When I was younger I suffered a severe disability that prevented me from working for several years. This has affected my thinking towards work to this very day. I feel I have a lot of catching up to do in the world of work. Although I just turned 30; I have the energy of a 21 year old and I've worked my share of 24 hour days (insomnia and all).
It all depends on whether you plan on having kids or not.
I personally think that having a set number as a goal is like saying you will purposefully fail once you reach that number.
I want to get the highest score. Is 500k enough? It's probably enough to live comfortably as a part time walmart greeter. Should we stop at 500k? How do you even get to 500k with the "i want to retire as soon as possible" attitude?
Only way to be prepared for retirement is to have multiple passive income (businesses setup to run their self). The more diverse the better. And have income that you are in full control of that another person or company can't stop.
When you retire, it doesnt matter how much cash you have. What matters is how much passive income you can acquire per month. I think that if i can get at least 80000$ of passive income per year, i can retire.
What I'm doing now is work on my game (I'm a professional poker player). Every year I make more money than the previous year despite the fact that the games are getting tougher and tougher to beat. So clearly improving my poker strategy is yielding results. There's a ton of things I want to do in poker (such as learning other forms of poker than Texas Hold'em and Omaha, the 2 most common) so no shortage of ideas here. My goal is to win a major title within the next 5 years...
You usually get half a mil when you win a major tournament. The WSOP champion just won 8 mil last week! Time is a problem though.
The other problem is that I have a negative macro outlook, the world is not gonna look good in the future. So I wanna buy my own home, a big part of sustaining yourself but prices are way too high. Energy independence is also a goal but it's tied up to having a home
Also I don't trust cash, it's a problem cos my cash is piling up but losing value
I think my number is anything over $800,000... but there are so many variables to retirement, including inflation. Your cost of living is a huge component to how far you can stretch your money. Taking 500k to Thailand would go a lot further than spending it in North America. You also have to factor in no mortgage or rental income and passive income... you could retire on a lot less if you still have income coming in.
Great video, you have no idea how many people never ask themselves that question. They are steady working for someone else but want to become rich. I believe its all FEAR. People have a hard time overcoming that.
with less than 100000usd, one can retire beautifully, not in america anyway. when it comes to retiring, i think one need to think smarter. i would prefer to retire in a place that's laid back, affordable and easy. my country would be good to retire in, and with even 50000usd, one can live like a king in ghana till death do u apart.
blackworldonline 3 months ago
That facial expression at 3:02 had me laughing, but overall good message!
SHERAYAMILI 3 months ago
Love your videos...I'm 55, semi retired, house paid 4, cars paid 4. $2.7 Million, 2 retire. I spend $35k a year. but you must factor in inflation. In 1 business I make $300 profit per sale, so I must sell 450 units a year or 37 units a month, so my written goal 2 a day, which EZ. & if I reach 2 by 10am I don't stop I keep going...I must sell 10,000 units, 2 retire. SUCCESS SECRETS 1. Written Goals 2.Self-Improvement 3. Action! Studies prove this is the difference between winners & loser!
2bschipman 3 months ago
the minimum amount needed in fiat currency today in order to retire in north america is $3 million dollars.
and that is only if you know how to manage it thereafter.
regards
Health&Wealth
HealthWealthCanada 3 months ago
@HealthWealthCanada If your house and car are paid off, you have no debt at all, and you don't go buy a massive motorhome to tour with.... you won't need 3 million. You won't even need 1 million. I'm not sure where you pulled that 3 million number out of.
Pullingmyselfup 3 months ago
@Pullingmyselfup Correction... YOU might need it with the lifestyle you want to live. I meant that the minimum amount to retire for a person in North America is not 3 million.
Pullingmyselfup 3 months ago
@Pullingmyselfup were estimating no home or any investments,.. pure networth all together. if you live modestly you can live a middle class lifestyle until you expire.
regards
Health&Wealth
HealthWealthCanada 3 months ago
one word.
DEAD
TinyPinkTampon 3 months ago
Government is controllable through your vote!!
NebkadBible 3 months ago
@NebkadBible AAAHAHAHAHAHAHAHAHAHA FFFFWAAHAHAHAHAH, yea sure man dream on, lawl
schmendriks 3 months ago
500,000 grand is plenty!!I I can build a Eco village for a fraction of that and have no need for money. It's called sustainable living, off the grid. There are good books about this. There is no more need to chase big financial numbers for retirement just to remain a consumer on the hamster wheel.
quicktripgas 3 months ago
$8,675,309
Jennie's number! Remember that song? That's my fucken number!!!
judutchinski 3 months ago
I don't want to retire; I plan to work forever. Even if I become a multi-billionaire I would still work. When I was younger I suffered a severe disability that prevented me from working for several years. This has affected my thinking towards work to this very day. I feel I have a lot of catching up to do in the world of work. Although I just turned 30; I have the energy of a 21 year old and I've worked my share of 24 hour days (insomnia and all).
MegaAvalonn 3 months ago
It all depends on whether you plan on having kids or not.
I personally think that having a set number as a goal is like saying you will purposefully fail once you reach that number.
I want to get the highest score. Is 500k enough? It's probably enough to live comfortably as a part time walmart greeter. Should we stop at 500k? How do you even get to 500k with the "i want to retire as soon as possible" attitude?
TheMetalPerson 3 months ago
$250,000 a month. Once I get that, I'm retiring... which means I'm going to sell my company and become a full-time investor.
emperorsenshi 3 months ago
Only way to be prepared for retirement is to have multiple passive income (businesses setup to run their self). The more diverse the better. And have income that you are in full control of that another person or company can't stop.
D4x4Bronc 3 months ago
look at the face he has a 3:00
D4x4Bronc 3 months ago
15 trillion
keeptkntests 3 months ago
I wanna be a Walmart greeter!
laura835 3 months ago
When you retire, it doesnt matter how much cash you have. What matters is how much passive income you can acquire per month. I think that if i can get at least 80000$ of passive income per year, i can retire.
mastaPh 3 months ago
@mastaPh not really, 80 grand can't sustain everyone you know...
clikityclankz 3 months ago
I need 5 million = NOT on track!!
BlunderCity 3 months ago
@BlunderCity what are you going to have to do to get on track
mohammedabshaun 3 months ago
@mohammedabshaun
1
What I'm doing now is work on my game (I'm a professional poker player). Every year I make more money than the previous year despite the fact that the games are getting tougher and tougher to beat. So clearly improving my poker strategy is yielding results. There's a ton of things I want to do in poker (such as learning other forms of poker than Texas Hold'em and Omaha, the 2 most common) so no shortage of ideas here. My goal is to win a major title within the next 5 years...
BlunderCity 3 months ago
@mohammedabshaun
2
You usually get half a mil when you win a major tournament. The WSOP champion just won 8 mil last week! Time is a problem though.
The other problem is that I have a negative macro outlook, the world is not gonna look good in the future. So I wanna buy my own home, a big part of sustaining yourself but prices are way too high. Energy independence is also a goal but it's tied up to having a home
Also I don't trust cash, it's a problem cos my cash is piling up but losing value
BlunderCity 3 months ago
I think my number is anything over $800,000... but there are so many variables to retirement, including inflation. Your cost of living is a huge component to how far you can stretch your money. Taking 500k to Thailand would go a lot further than spending it in North America. You also have to factor in no mortgage or rental income and passive income... you could retire on a lot less if you still have income coming in.
rawnutritiontips 3 months ago
I will never retire. I am doing what I love for a living.
bierstadt77 3 months ago
15 billion
clikityclankz 3 months ago
I don't want any money. I want a 200-300 unit apartment building.
turboman8082 3 months ago
@turboman8082 interesting
mohammedabshaun 3 months ago
Great video, you have no idea how many people never ask themselves that question. They are steady working for someone else but want to become rich. I believe its all FEAR. People have a hard time overcoming that.
r3asons 3 months ago