How to plan for retirement in your 40's? Today we're going to take you through a 41-year-old's retirement plan and how much they're saving. This should help you out, but if not feel free to schedule a call with us! At the end I ask you to answer a question for me. If you can't answer that question, hopefully, it gets you thinking a little!
We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money.
0:00 – 0:52 – Intro To Savings Plan In Your 40's
0:53 – 3:07 Retirement Plan Overview
3:08 – 3:28 Adjusting Savings Rate For Retirement Accordingly
3:28 – 4:08 Establish Savings Goals!
4:09 – 4:35 The Importance Of Knowing Your Savings Rate & Goals
4:36 – 5:18 Answer This Geeky Question For Me!
5:19 – 5:28 Hit that like button.. Please!
#retirement #retirementplanning #investing
—Ready to subscribe—
For more information visit:
— Instagram @jazzWealth
— Twitter @jazzWealth
Business Affairs 📧Support@JazzWealth.com
first!
Gold star for you today! ⭐
If you liked this video.. Like the video for us! 👍
Love seeing it play out on the computer thank you Dustin.
Thanks Bruce! We love crunching the numbers 🙂
Oh do me do me, also 41 this was great.
Glad you enjoyed the video, Robert! Thanks for watching!
I just max out my 401K contribution so I can do more Roth conversions later. I’m 48 and have most of my assets in non-retirement brokerage accounts to allow me to retire now if I wanted. It’s all a tax game and the math works out in my personal model.
Nice plan! How’d you figure out how much to have in non-retirement accounts?
I’m about to turn 43 and decided to take time off from work instead of putting all my eggs in the retirement early basket. Not touching retirement savings just cash I set myself up with.
My wife and I (early 30s) both contribute a little over 25% to max out our 401k contributions of $22,500 each. We both get matches of 6%. As of today we have a little over $250k in 401k (about half in roth) and we also max the HSA. Additionally, we invest an additional $3k monthly to our investment account, which is sitting at over $270k. We have a few investment properties with over $350k equity. We surpassed our $1M net worth goal this year. We’re pushing hard because we want to retire early, in about 5-7 years.
Wow! That’s incredible. Good for you guys! Keep pushing! Awesome goals it sounds like you’re hopefully on track for!
Seems like you should be making our both of your ROTH IRAs as well (each: 6.5K ’23 and 7K ’24). A benefit of that is you can withdrawal and part of the contribution at anytime. Great for emergencies or early retirement (pre 59.5).
Some 401K allow you to do pre and post contributions. If you max pre then you can do post. At the end of the year you can convert that post to a ROTH IRA. At least this is what Fidelity has allowed.
Awesome!
Congrats! I’m looking to do the same thing myself, but I’m only at ~500k, so I’ll be a few years behind you. Make sure you’re contributing enough to taxable accounts so that you can make it to 55 without having to take early withdrawal penalties!
35%. It’s an addiction.
I’m 48, contribute 10% to 401k ev month
Great information. It’s about how you can live your best life for the whole thing. No point of dying with a hundred million while eating cat food and living in a cardboard box your whole life, but on the flip side, you do not want to get to 65 and have two dollars to your name and have to work until you are 85.
It goes quick 56 now , invest early
52yo 16% normal, 8% catchup