Today we look at over 4000 clients' retirement plans to see how they break down by retirement income and expectations. We will also break the retirement plans down by age bracket so you can see how you stack up.
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.
—Ready to subscribe—
For more information visit:
— Instagram @jazzWealth
— Twitter @jazzWealth
Business Affairs 📧Support@JazzWealth.com
Definitely, cash flow in 40s and 50s was highest. Kids were older and had larger expenses. Upgrade home, schools, cars, etc. 55 to 65 was able to increase investments and the investments grew in larger quantities.
30-50 life getting in way:
YES!
– Started & lost business
– 3 kids (thru college)
– Divorce
Life smacks you pretty hard in those years!
True to that…2017,18,19 were my worst years ever. 2020, was the best yet, 2021 looking better…learning from the bad.
Don’t get married. I’m 40 and never married or had kids. I just became a millionaire last year in 2020!
@David I’m 38 and almost to one million if the stock market keeps going like it’s going
@Gus H retired at 50 and have saved millions over the years of my investment. Don’t need anyone to pay me anymore I need to be paying people now. lol
@Nathan Cook I seriously need a nice investment scheme invest my money. I’m thinking of investing in stock, crypto or real estate.
Nice job on collecting the statistics. It helps us understand how close to “average” we are. Would the savings numbers be significantly different if you had used median values for savings instead of averages?
Congrats on the 4k clients, $100MM under management, and the soon to be 100k subscribers! I’ve recommended you to my family and friends. So far everyone is thrilled with their experience at Jazz. Keep up the great work Dustin!
FANTASTIC perspective! Great insight as always. 👌🏼
The 40-50 doesn’t have that much more than the 30-40 group because the 40-50 was investing during the “lost decade” of 2000-2009. If you started putting more aside in 2009 you’ve seen almost nothing but great market returns every year.
Love this data you compiled for us!
Great stats Dustin 👍 Everyone needs to start investing early 📈
This video is awesome. You seem to know what we are all thinking.
When you look at expected retirement age, I don’t think the number goes up with each successive group because they want to work longer, I think it is more likely that they have looked at their savings and realized that the are unable to retire as early as they had hoped, and they need to re-assess. At least, that was the case for me (still working at age 66 but wishing I were retired, planing to retire at age 68).
Really good point. I fall into that. 53 and coming to the realization that I won’t be retiring any time soon nor have nearly as much passive income as I thought I needed when I was younger. However, when I was 25 I felt that 53 would be pretty old. I’m not feeling that old (yet) and I feel that I can comfortably work longer than I thought I wanted to at 25. I enjoy my career more now than at 25. The realization that I wasn’t going to hit these high targets also got me to consider what I really did need to be comfortable in retirement. $120k would be fantastic, but I think we can be comfortable at $60k. I’m shooting for somewhere in between.
I was a bit behind when I hit age 55 as life got in my way so I did something drastic. Threw everything at the retirement number. Now age 61 and I’ve been retired for 9 months. Savings rate for the last 4 years was over 75% of my income. I have saved just as much in the past 5 years as I did in the previous 30 years working. Stock market really helped in 2019!
Fascinating stats! I love this breakdown. Helps me feel not quite so bad about where we’re at. Still behind where we want to be but it’s never too late to get there. Thanks so much for geeking out!
You really cater to the younger crowd. Most of the assets are held by the 50+ crowd, those are your best customers. This is a great source of real data, not what some economist pointy head pontificates about. Start saving early and don’t let rob your own future.
Thanks. I would really appreciate if you did a deep dive breakdown on the smaller age brackets (ie 30-35) and crunch some numbers. Love your videos thanks.
I was nervous to see where I fit in and supervised how good I’m doing after seeing your data. Always enjoy the channel man, keep it up.
I am always amazed how lofty the income goals are and how little people have invested to get there. The gaps are always huge! Looked at your fee structure. Not bad at all. I see you’re not accepting new clients. Oh well. Thanks for the numbers.
I’m sitting at 4x my annual income at 47 and feel like I’m way behind. I’m putting 16% of my gross income into my accounts but with kids getting to leave for college I doubt I’ll ever get truly ahead and will retire a bag lady.
Thank you for this video. This is a good perspective for my husband and I to see where we stand. We are both in mid-50’s but may need professional financial guidance…more so of how to develop passive income at our age.
This makes me feel better about what I’ve done. I’ve smoked the 65 group. This show the importance of starting early saving and never let up. Thanks for the data.