Will You EVER Retire?? This Is How Much Money You’ll Need To Save!

Have you ever wondered how much money You'll need to retire if you have then You've probably considered that you may Never be able to that I will never Retire as funny as all of the associated Memes have been it begs the question of Just how much money you'll need to Retire in 10 20 even 50 years time today We're going to find the answer make no Mistake this is a video you'll want to Watch until the end Now guys this is one of those videos Where I need to point out that I am not A financial adviser I can't tell you What to invest in or how you should Handle your own retirement please Contact a professional if you need some Real advice you'll only find educational Content here but hey we promise it'll be Entertaining now before we get started It would probably be a good idea to tell You what retirement actually means Wouldn't it to clear up any Misconception ions retirement isn't just About getting old enough to live Permanently in slippers and to refer to Youngsters as Hooligans while blaming Their poor attitudes on that hippity hop Music they're listening to No retirement Actually refers to any time in a Person's life where they choose to leave Their work life behind them permanently This could be because that person has Hit the required age or it could be for

More unplanned reasons such as Sustaining a serious injury or making Making life-changing 1,000x gains on Frog themed meme coins now at some point We have all dreamt of the day where we Can finally tell the boss to stick it Before riding off into the sunset panina Colada in hand ready to enjoy the World's longest holiday before we can do That though we need to plan and we need To save but what do those retirement Plans actually look like well much like The wonky veg in your local supermarket Retirement plans come in all shapes and Sizes each with their own nuances not Only will most countries have a Government funded plan such as state Pensions or a social security benefit But you can also add to your own Retirement PO with specialized Investment plans for example with a Traditional 401K you pay a portion of Pre-tax income into the pre-investment Fund and your employer matches a Percentage of contributions this lowers Your taxable income and you don't pay Any taxes until you make a withdrawal Another example is a traditional IRA Which is similar to the traditional 401K But the contributions are significantly Lower however there's also more freedom Because you can choose where your money Is invested whereas a 401k's Investments Are decided by the employer then there's

A Roth 401k and Ira these are similar to Their traditional counterparts except That where money is taxed on the way out Of a traditional 401k or IRA with the Ross versions money is taxed on the way In and you won't pay any tax when you Make a withdrawal there's also the SCP Ira which is designed for self-employed Workers it works the same as a Traditional IRA except you can Contribute a lot more to the fund and if You work for a nonprofit such as a School you'll probably be on a 403b Which allows you to contribute even more Than you'd be able to with a 401k if You've worked there for 15 years or More now at this point it's important to Note that not every country will have The same retirement plans the ones we've Mentioned are from the US however the Way plans work in different countries Will be similar in nature although there Are some countries that don't actually Offer any retirement plans at all by the Way if you are enjoying the video so far Give it a boost by Smashing the like Button while you're down there subscribe To the channel and ping that Notification Bell to catch our next one I was trapped inside a cage a cage made Out of The Daily Grind I was so Unfulfilled I felt like a blank sheet of A4 paper something was missing from my Life but I didn't know what but then I

Found what I'd been missing the coin Bureau deals page was the answer to my Prayers it had everything I needed to Make me complete Exchange sign up Bonuses of up to $60,000 the biggest discount on the best Hardware wallets trading fee discounts Of up to 60% on the best crypto Exchanges exclusive altcoin Alpha thank You coin Bureau for bringing me back to Life anyway each country will have its Own minimum retirement age for instance In the US you can retire as early as 62 Although you'll have to wait until 67 to Retire if you want your full Social Security benefits other retirement ages Around the world include 66 in the UK 65 In the UAE 67 in Australia as well as Places like China or Russia that have Different retirement ages for men and Women in China for example men can Retire at 60 and women can retire at 55 however in a lot of countries these Ages are set to increase in fact if you Check out this Wikipedia page listing Retirement ages around the world you'll See a list of 95 countries and 28 of Them will be increasing the minimum age In the coming years take the dear old UK For instance which will be putting its Retirement age up to 67 by 2028 and It'll be 68 by 2037 now this ties into why people are Becoming increasingly concerned about

Their future future retirement Which is Less secure now than ever it's pretty Simple governments don't want to pay for It as Medical Technology advances people Are living longer the prospect of Governments paying out retirement Benefits to everybody for an increased Number of years has been widely Discussed by politicians who quite Frankly don't care if you have to work Until your 70s I mean a lot of them Would prefer it if you never made it to Retirement at all however a government Can't exactly just declare that they Want you to work until you're dying Breath so instead they fund retirement By switching on the money printer this Short-term solution actually creates a More long-term problem yet we're talking About inflation of course you see the More currency is in circulation the less Value and purchasing power the currency Has logically the longer you save the More value will be eroded by inflation Over time consider that 50 years ago the Same item you could buy for $1 would Cost you $636 in today's economy the other way Governments are cutting cost is by what We mentioned earlier by pushing those Minimum retirement ages back despite so Many people dying before or shortly After retirement age as it is now this Is pretty insulting because the average

Person will have already dedicated 40 Plus years to contributing to society Those extra few years of work at a more Senior age can be pretty damn brutal the Thing is the cost of living has only Gone up causing many people to continue Working well past retirement age they Literally can't afford to stop and for Many people who do retire they can't Afford to retire for long case in point A recent retirement Savings in spending Study found that around 20% of retirees Were returning to work in either a Full-time or part-time capacity with a Further 7% actively looking for work in Other words 27% of people who have spent Their entire lives working towards Retirement can't afford to actually Enjoy it just let that sink in Amazon Has been one of the many companies to Have exploited this with its camper Force program which is mostly made up of Desperate elderly people who won't have Enough time to Unionize but what about the state Provided benefit Well these are infamously unreliable Because changes are constantly being Made in the order to keep the system Solvent this is detrimental to an Overwhelming majority of retirees take For instance the social security benefit Of which 95% of Americans age 65 or over Rely on it in some capacity this makes

Planning your retirement that much Harder and when you combine that with The effects of inflation many people Find themselves with an quate savings to Sustain themselves these savings can be Eaten into very quickly causing retirees To apply stricter budgeting to their Funds in order to survive something made Even more difficult when you factor in Those longer life Expectancies that being said longer life Expectancies only really apply to those With a bit more cash in the bank than Others as a not so fun statistic the More money you have in the bank the Longer your life ly to live this can be Seen on this chart which shows that Those with more money than 95% of the Population are massively outliving Everyone else now this is why it's Become more important than ever to Create a robust savings and Investment Portfolio to give you the best outcome But how much money would you actually Need well that really depends each Person will have their own idea of how They want to spend their time in Retirement your retirement is exactly That it's yours it's your unique blank Canvas on which you can splatter your Own future and Visions maybe you want to Have a nice relaxed retreat in the Countryside or maybe you'll spend your Golden era bouncing from one

All-inclusive holiday to another Whatever you choose to do there are a Few things that everyone will need to Consider these include cost for get Ready housing Health Care Transportation Food and dining Personal Insurance Clothing reading materials education and Entertainment now working out the cost Of these things in advance can be a Little bit tricky happily though a 2021 Survey from everyone's second favorite Bureau the US Bureau of Labor Statistics Obviously actually does a pretty good Job of breaking down these costs for us So let's take a look shall we for Housing retirees spend on average almost $199,000 A year this includes paying a mortgage Or paying rental charges as well as cost For household supplies and Furnishing It's noted that housing prices have Appreciated to record levels when the Survey was taken in 2021 and they've Since calm down a bit so pensioners Aren't likely to be hit so hard with all Of these costs housing alone still Accounts for over 36% of all outgoings However Healthcare on the other hand Only accounts for 13.5% with the average retiree spending Just over $7,000 a year on things like Medical costs and health insurance as You can probably guess the cost tend to Increase the older you get

Transportation accounts for almost 14% Of outgoings at over $7,000 a year a Majority of this is for buying or Maintaining a car it's noted that over 35% of people aged 70 or above are Impacted by limited mobility and that Transportation really helps people to Stay socially engaged anyway food and Dining costs come in around $6,500 which accounts for over 12% of Outgoings what's surprising is that 2third of this cost is just normal food At home this suggests that the rising Cost of living are preventing seniors From dining out this survey notes that 44% of seniors reported food costs as Fastest growing expense utilities cost Around $4,000 accounting for 7.5% of Expenses the survey finds that utility Costs tend to become a little more Expensive after you retire because You're likely to be home a lot more and You'll want it to be at a comfortable Temperature anyway other typical Expenses include almost three grand on Personal insurance and pensions the same Again on entertainment about a grind on Apparel and services and around $400 on Reading materials and education when Combined the average retirees expenses Can come to over $52,000 a year so then how much would You need to comfortably enjoy Retirement well assuming you are

Planning to enjoy a 20-year retirement Then this would mean you would need just Over $1 million to cover your cost However many people believe that this Isn't enough in fact many sources Suggest a different amount so let's take A look at some of these and determine an Average according to a survey from Northwest Mutual the typical worker now Believes they need $1.46 million to retire comfortably an Increase from 1.27 Million last year on The other hand nonprofit media Outlet Art notes that on average An American in Retirement will spend around 80% of Their pre-retirement income with the Average salary in the US of around $777,000 80% of this is around 62k logically then you need 1.24 million For a comfortable 20-year retirement now Working out the average between all of These values gives us a ballpark figure Of $1.23 million that's quite the number When you compare it to other countries For example a comfortable retirement in The UK would cost around £750,000 which Is around $953,000 Alternatively the low cost of living in Portugal means you can enjoy a luxurious Silverhead lifestyle for under half a Million bucks but we're not done here Yet folks you see it's okay working out Just how much you need to retire today

But remember that inflation thing we Were talking about earlier yeah we've Got to factor that in too the average Inflation rate over the last 10 years is 2.4% per year which means our $1.23 Million becomes just under $2 million That's if you even believe the official Inflation figures which are debatable Another way to assess how much you'd Need would be to look at the M2 money Growth Supply which sits at the annual Average of 5.55% over the last 10 years so our 1.23 Million actually becomes a jawdropping 3 $6 Million an average between the two gives Us a rough estimate of $2.8 million that You'll need to have to have an easy Lifestyle that you've always dreamed of At least based on the available Data now this obviously begs the Question where the hell am I getting That much money from obviously trying to Accumulate 2.8 million is easier said Than done but believe it or not it's not Impossible it won't happen overnight and It won't happen in a few weeks or months Instead it'll be something you do over Your lifetime it will take strategy Discipline and patience but make no Mistake it is absolutely Doable now that you're officially pumped Let's see if you can make it happen for Yourself the first thing that you want

To do is make sure you've cleared any Outstanding debt the earlier you start Hammering away at those the easier it'll Be to to start Building Wealth think of It this way if you have been paying $100 A month to debt you've already been used To living without it so why not put it To good use this ties into the next Thing you need to do start using any Spare cash you have to make the maximum Amount of contributions you possibly can Into your retirement plan this will Allow the pot to grow in the background And by the time you make a withdrawal You'll be surprised at just how much It's grown However if you want the best chance of a Healthy happy retirement then you could Invest into high performing assets Specifically ones that will massively Outperform inflation there is a wide Range of options available here and It'll be up to you to wear your own risk Tolerance to decide where you put your Money perhaps the most obvious option is The stock market using the S&P 500 as a Sort of proxy you can see the stock Market has gone up by an average of 13.2% over the last 5 years we reckon That comparing the Last 5 Years gives us A good scope at just how an asset can Perform given the macro show we've Seen during that time anyway if keeping Up with the E and flow of the stock

Market doesn't sound like you then you Could consider a commodity like gold With an average annual return of 11.4% Over The Last 5 Years gold is popular Because because it maintains much of its Purchasing power much better than Fiat Does anyway there are more outof the-box Investments that you could choose such As fine art Collectibles wine and Whiskey to name a few I mean even Vintage Lego set can give you a pretty Decent return on your Investment but we would be remiss to not Discuss the best performing asset in History Bitcoin since bgc's earliest Record price of around 9 C it's gone up By over 720,000 X to its current price of around 69k at the time of me bringing you this Video obviously things have slowed down Massively but even so the average return On a BTC investment over the last 5 Years is 63% per year crazy right you Can now learn more about how BDC and Gold compare by checking out this video The link is in the description now it's Worth noting that despite Bitcoin being A risk asset it's actually the safest Cryptocurrency as it's been around the Longest and has the most established Track record 15 years in counting it's Up to you to decide if the risk will Outweigh the reward and if you want to Learn how to trade BTC then we did a

Video guide that will help you do just That the link will be in the description Too now this brings us to the big Question what investment plan can you Follow to achieve your retirement dreams Well working this out can be a little Tricky in order to give you an idea of What's needed we'll be using the Averages we've discussed so far to Compare the potential returns of the S&P 500 gold and BTC over a 10year 20y year And 50e time frame if 50 years is too Long you can use this as a guideline to Go somewhere in the middle also note That this strategy assumes that you'll Follow a monthly DCA strategy in case You're unsure DCA stands for dollar cost Averaging which is when you invest the Same amount every month regardless of Price action also keep in mind that this Is all guesswork so I think it's worth Reiterating what I said at the start of The video I'm not a financial investment Adviser anyways with that said let's Start with the S&P which I remind you Has an average return of 13.2% to achieve that 2.8 million doll Goal in 10 years you would need to Invest $961 and3 per month now I'm going to go Out on a limb here and guess that having Almost 10K spare a month is probably Unrealistic so how about over a longer Time frame well you can hit the same

Target over 20 years by investing $2,593 per month it's better but let's Be honest it's still a little high However investing over over a 50-year Time frame would cost you just $133.33 Much Better next let's take a look at gold Which I remind you has an average return Of 11.4% slightly less than the SMP but Arguably easier to manage anyways to hit $2.7 million in 10 years you would need To invest a whopping $976 a month not even Snoop dog is that High so let's spread it out a little bit Okay so over a 20e span gold Investments Would cost you $2,593 185 close but no cigar or whatever Snoop Dog is smoking spread those Investments Over 50 years though and that will cost You $146.8 a month for shizel Dizzle but what about Bitcoin well I'll Remind you that BTC has a much higher Average return at 63% per year so with That in mind let's see what that would Look like to achieve our $2.8 million Target over 10 years you would need to Invest $2,043 a month that's less than both Other assets on the 20e time frame if You were to invest into BTC over the

Next 20 years you would need to invest Just $553 cents per month as for the 50e time Frame this would cost you you only $23.77 a month some of you spend much More than that a month on coffee as you Can see then it is completely possible To build up a decent amount of Retirement money over your lifetime and The more patient you are the easier it Becomes but here is a tin foil hat Question for you will you even need it I Mean think about it we're heading Towards a future where technology makes Everything easier 3D prins today can Already create things like houses in a Single day people are also already 3D Printing artificial organs food and even Medicine at this rate you're literally Able to print everything you need to Survive out of your own 3D printed home And at a low cost in the future what's To say we won't have crane siiz printers Able to spit out an entire home Naturally this would make housing much Less scarce and therefore less valuable In theory at any rate 3D printing aside If science advances to the point where We're able to cure today's common Ailments then naturally this brings Healthc care cost down right besides We'll probably already have robot Doctors that are able to perform surgery With pinpoint accuracy or we'll each

Have our own microt trip that dispenses Medicine every time we catch a cold I Mean the food we eat could even be Genetically modified to survive we Conditions or to Bear more fruit the Vertical Farms that your nephews build In Minecraft could end up becoming an Actual real thing albeit with more Pixels we could even start harnessing Limitless energy sources like nuclear Fusion eliminating the need for dirty Fossil fuels and inefficient renewals Energy costs could fall close to zero Making everything exceptionally cheaper Since energy is required for making well Everything On the flip side maybe this is exactly Why the things from today could hold Their value people might not want Genetically made tofu sandwiches instead They might want something more organic Maybe a printed out Hollow plastic house Isn't the home of your dreams and you Just want the good old brick and mortar Alternative that you grew up with or Maybe you want to hear what your Lambo Would sound like if it wasn't being run On Tesla juice yep all the other stuff Might sound kind of cool at first but it Probably wouldn't be the best way to Spend your retirement and it's highly Likely that the richest people out there Would be well aware of that they Probably prefer to spend Bitcoin instead

Of all that worthless fat crap Liv in a Traditional house and have access to Human doctors and eat real food why not Join Them now I reckon that's just about Enough crazy for one video whatever the Future holds though it's probably best You prepare Accordingly just in Case and that's all for today's video If You enjoyed the video show us some love By Smashing the like button and Subscribe to the channel don't forget to Ping that notification Bell while you're There too if this video has inspire you To start trading BTC or any other crypto For that matter then be sure to check Out the coin Bureau deals page it's got Trading fee discounts of up to 60% and Sign up bonuses of up to $60,000 And discounts on some of the best hard Wals for you to store it all on the link For that is in the description below Thank you so much for watching and we'll See you next time this is Jessica Signing off [Music]


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