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And move on to bill Lucy -- -- retire in a weekend.
People are worried about retirement based on what Chris said we could very well be flat line for a while who knows with it happened with this current.
Market situation that we have three -- telling people that a lot of people have stopped contributing to their well OK it certainly got stopped the matches are on the corporate side and and I read a stat that over 53% of people have less than 25000.
Dollar seat assignment that is -- it well that's the.
Average figure when you're taking into account people that are in their 20s30s and forties all way up into their sixties.
I think that you know right now people need to continue to work because their ability to earn an income is actually their greatest asset.
But that being said there are still plenty of people -- been saving for 234 decades every single pay period.
They have accumulated six or seven figures and are financially prepared to retire so shouldn't harp on the bed as -- played good news out there to.
There is the it's almost like timing it right though if you retired four years ago you were in great shape now when we -- -- commercials thoughts out of their -- a lot of truth to that point now I've got -- -- back to work.
Or maybe even reevaluate how I say are you seeing a lot of that nowadays where people are saying it's not just.
About either pension which is rare these days -- 401K.
And then do some other things billion.
I think this is the thing is that there's usually some sort of a triggering event to whether it's a dollar amounts and so for example my portfolio had half a 100000750 million.
Then I can retire because I'll be OK or the other -- my season on 55 and 596060.
To 65 -- hit an age and then I'm ready to retire.
I think people really need to rethink that because of one of the biggest mistakes I fear that people actually are retiring.
And what they really want is just to break.
I mean I did research free turn a weekend 5000 boomers and the vast majority are just tired of waking up at 6 o'clock on Monday morning to the alarm clock.
The -- -- certainly a respite so.
-- the continually telling people -- -- a great time to talk with your employers about a phased retirement.
And imagine if you go from a five day were we down to a -- -- -- Republican extra seven -- -- weeks worth of vacation for a year and for a lot of people that's exactly what they want and what they need.
And employees now these days especially need to break don't want have to pay that kind of got very well that's the whole passer so if you can say -- although 80% of time for 80% of -- save the company money but the -- the -- employee that's a win win for everybody.
But the whole notion of retiring I think he's changed and people need to rethink it you know all these calculators on the web that you know you put in all these things and you -- much.
You need to retire -- inevitably -- -- come up with like ten could zillion dollars.
Perfect I'm in issues right for yeah its very frightening yet -- -- people's really think about what they need in retirement well he.
Here's what the scoop is -- mean everybody thinks there's some magic number out there and the -- number doesn't exist because everybody has their own number.
And if -- retired at the end of you know last year and he's he's so your portfolio got twenty or 30% -- now -- numbers not the number anymore but you're still -- -- but the reality is.
You know we have no idea what the government's gonna do with tax rates we have no idea what inflation's going to be we have no idea it would do what return we're gonna -- That retirement is based upon assumptions.
So that's what he really to put yourself in the best position.
Fundamental things diversify your portfolio make -- -- properly allocated in -- forty different countries large cap small cap growth value midcap.
All sorts of different types of bonds.
I think the most important thing for people that are retiring nowadays because so many people don't have a traditional pension plan.
Is that they need to make sure that they -- they can create their own pension plans so have they do that.
They want to have anywhere from say two to five years worth of anticipated would brawls in a real safe money source.
-- -- we -- see companies starting to add that -- back I'm -- fund -- my job a job because just.
Most people have taken money out of their 401K and I was going to be bet -- next because he seems to think that people have not have stopped contributing and they're not come back.
Yeah well the interesting thing is is that wind when companies started decreasing -- eliminating their company match about a year ago a lot of people some well Obama gonna get the match I'm not gonna put any money -- dumb move they need to definitely save money because that that's really going to be the key to building wealth and I talk about five rules the automatic rule is making sure you have money.
From every single paycheck put into your retirement -- And if you don't have -- the company retirement plan you have a deducted automatically from your checking -- every month.
You have to build month the build wealth automatically you do stop busting my chops I've been donating every single check.
Well -- -- live in the I can't next well I will believe just that point because here's the thing you hear a lot of advisors saying you should invest 101520%.
Of your income into your 401K.
Most people can't do that so I say this -- say.
1% can you do one obviously you want bill and I then you're going until the end.
The other thing if you get a 3% raise say 1% spend the other two that -- it was increasing your wealth.
Anderson a living the same time while -- -- bank I don't see lots of that I kind of weekend that baby -- guide to making where --
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