Podcast – Episode 147 – You Cannot Retire With Only A Million Dollars

Podcast Transcript

Turns out that a million dollars is not a big deal anymore. It’s not enough to be a millionaire, or is it? I don’t know, we’ll talk about that. So, there’s a new survey that just came out. CNBC reported on it, that’s how I came about it to see it, it’s put out by a company called Natix Is, I don’t even know how you spell it. Natix Is Investment Advisors. That’s their name–  financial company, they did a survey. And they asked millionaires. And they asked us a 16,017 millionaires who already have a million dollars in assets, right.

And they asked them about what they think and how they feel about the economy, their future retirement in the year 2022. Unfortunately, most of them, a lot of them said that they are not very secure in their financial footing. In fact, 35% of them.

35% of these millionaires said that it will take a miracle for them to retire securely. Now, imagine that.. you’re a millionaire, everybody’s told you, well, hey, the goal is to get to a million dollars, you know, so that you can live in luxury for the rest of your life. You can stop working, quit the job, sell your business, whatever, and just relax and enjoy the rest of your life. But the people that have this million dollars are saying, Hey, we got here, but it’s not enough.

So my goodness, why, what happened? Well, turns out that million dollars is not what it used to be anymore. So anybody that goes, Hey, I’m a millionaire. You no big deal. Sorry, but big freakin deal. It’s not enough. In fact, in in the world, right now, there are over 21 million millionaires. 21 million, that doubled from 2010 to 2020. And it keeps going up, right. So it’s not a big deal anymore. And then 58% of these millionaires, 58% of them said that they will have to work longer than expected. So if they were planning on retiring at age 65, like most people do, it’s gonna they’re gonna have to work longer. Even if you have a million dollars in assets, according to this survey. Wow. That’s insane. Right? And it could be any number of this, right? So there are economic threats growing, you know, inflation is there.

The public debt is huge for the government, almost every government has tons and tons of debt. And that makes things harder for us. Because taxes go up and all kinds of stuff happens. Inflation is eating away at the money that you have, right? Interest rates are at super low points, even though the interest rates have risen, right, you go to the bank, in my have a very high interest rate account savings account, I’m getting 3.5%. So that’s fine is decent, but it’s a lot less than inflation. And so I’m losing money with my money sitting in the bank.

2022 is just a tough year for retirement right market was down over 23%. S&P, so geez, what do you do? Well, that is the normal way of thinking, right? So let’s say you save up all your money, or you give it to an investment advisor, and then they grow it for you supposedly, right? And then when you retire, you’re supposed to take out 4% of that and live off that now. $1 million 4% of that turns out to $40,000 a year. Now, yeah, you do get you know, some benefits in here and there and Social Security and whatnot. But still, you want to live on $40,000 a year?

No, I don’t know. I mean, I live in Texas, and it’s pretty cheap to live in one of the lowest cost of living, but still, yeah, 40,000. You’re like poverty level here. Even here, right? You live somewhere where it’s a lot more expensive. I mean, forget about it, you can’t do it, you’re gonna keep working. So most people out there have a very hard time, even with a million dollars to be able to retire. And it’s really sad.

On the other hand, if you know how to do passive trading, you don’t even need a million dollars. And we have other episodes and other videos that show you how to do the math and look for the one about our retirement calculator. And you can figure out that it doesn’t take a million dollars to live a really, really good life. I mean, let’s say you have a million dollars, and instead of the measly 4%, that, you know, you’re supposed to take out what if you could actually make 10% on that?

A year? If you can, if you can take your million dollars and make 10% a year, that’s $100,000 plus whatever benefits you get from the government, most people will be like, hey, yeah, that’s, that’s really good. I can live off that. And that’s 10% a year. Right? We like to look at it and say, Hey, we want to make 2% a month, 2% every single month, that’s gonna be a lot more than 10% a year, right? That’s 24%. So now we’re not looking at 100,000, we’re looking at 240,000 for the year. And that’s relatively simple to do. It’s not easy, but it’s simple. We can explain to you within 10 minutes, and you’ll get the picture with examples would be like, Hey, you do this, right, it’ll make you to present and it’s very conservative, it’s very saf, right? And that’s on the low end, that you can actually do better. You can do other strategies that generate more.

And so it’s really insane, that even in this country, right now, in this year, where everything is good, like one of the richest countries in the world. Notice I say, one of if not the richest, I don’t know if it is anymore. But things are changing. And it’s not the way they were 10 years, 20 years, 30 years ago, 40 years ago, right? So we have to adapt, as well, we have to adapt our finances, we have to adapt the way we think about our finances, the way we think about money, we cannot be afraid of money. We have to know how it works. We have to know how to invest it. And we have to take it away from people who don’t know what they’re doing. Financial Planners, investors, Wealth Advisors, if the person you give your money to to invest is going to take that money and give it to somebody else, why do you need the guy in the middle? You don’t. He’s just taking his fees. He’s getting wealthy off of you. He’s paying his bills, also you and most of the financial planners and Wealth Advisors that I know, are not really wealthy in themselves. So it’s like, Hey, why am I taking advice from the blind, it’s the blind leading the blind. Now, if you had a financial adviser who was a multi multimillionaire, and he got that way, not by managing money, but by actually investing, then yes, he’s the guy you give the money to, to, okay, that guy knows what he’s doing. Right? He’s the one you want managing your money, because he’s done it before he knows how to do it. And he can do it again and again. But the average guy, the average financial guy off the street, these are working Joe, just like you are just like most people are. And there’s nothing wrong with that he’s trying to make a living. But he’s not an expert. Just because he watches the news all day doesn’t make him an expert. His company has experts, the company he works for, right, he probably works for a larger or he’s in, he’s aligned with some larger company. That gives him information. But still, he couldn’t trade his way out of a bag. Now, oftentimes, I’ve talked about the guy that’s in my office next door, he’s a financial planner, he has almost $100 million under assets in management $100 million. And he charges a 1% fee, about average. So this guy, he makes close to a million dollars a year managing other people’s money. Now, it did take him maybe 20, I think 20 – 30 years to get to that level. But that’s a pretty nice income. Right? And he doesn’t trade very well. Now, me and him, he knows I trade. He knows I teach. And so we talk about stuff. So he does stuff for his clients. And then he does stuff for himself. So he does actually trade for himself. But it doesn’t trade very well. He’s lost almost $500,000, just last year. And he’s losing more this year. And the year just started. So you know, just because you are a financial advisor, just because you get all these reports, and you know, the words and the jargon and the lingo. And you know what earnings are and all that stuff doesn’t mean that you’re a good trader, doesn’t mean you’re a good steward of other people’s money. So these guys, they take your money, they give it somebody else. And that’s what he does. Right? He invested in different funds in different mutual funds and different index funds and in bond funds, and he does all that. And so people are happy with him, because they don’t know any better. Right? So as long as he can do kind of close to what the market is doing, people are happy and they keep paying him.

That’s the business he built. That’s wonderful. That’s great. People need that, right? Everybody else everybody can’t trade for themselves. There are people out there that need to just turn over the money to somebody else. And if you can find somebody, you can trust somebody that knows what they’re doing great. But most of these financial planners did not. They’re not rich, number one. And number two, they didn’t get rich by investing their own money. They got rich by charging fees. And so he’s okay, my friend next door, he’s okay with losing 500,000. I mean, he’s not happy. But he’s not going to go broke, because he’s making close to a million dollars in fees. So for him, you can he doesn’t spend that much money, right? And so he’s okay. And he works maybe three hours a day, five days a week. So for him, it’s a really good life. That’s how it is, right? So if you are a millionaire, right? You cannot expect to give your money to an advisor and be able to retire.

Well, at least most of the people on this survey that we’re talking about, feel that they cannot. And in fact, there was a number here at the bottom says here about 36% of these millionaires feel 1/3 More than 1/3 feel that they will never have enough money to retire, they will never be able to retire. So even though they did everything right throughout their life, they save save, save invest as fast million dollar millionaire, right? Moneybags, they won’t be able to retire. And that’s really sad. So hopefully, I can get you to start pastor trading. You know, it just starts with one trade, pick one strategy, just put one trade on, see how it works. Right, reach out to us, we can show you some videos, we can show you some examples. There’s so many things that we’re working on, we’re bringing stuff out there, we already have a lot of stuff out there. Just try it. Just please try it, see how it works. Okay, you owe it to yourselves. And then once you learn how to do it doesn’t take very long. So it’s not like you have to quit your job and be trading full time. Okay, if you’re trading more than half an hour a day, I mean, you’re probably doing it wrong, you’re doing it too much. You’re taking too much time you’re doing it wrong.

So realistically, yes, you can make a lot more than the experts can make for you. That’s number one. Number two, if you do the old way, you need to over a million dollars to retire on time with a million dollars, you’ll really never retire. But with the passive trading way, with a million dollars, you can retire, you can retire today, with a lot less, because we can show you how to make more. And when you make more, everything becomes easier. But the trades themselves are very simple.

So why most more people don’t do this. I don’t know. I couldn’t tell you. I’m out there preaching and that’s why I would really love it. If you would share this with other people that you know if you know anybody that is struggling with retirement struggling with their finances, right, like, Hey, I don’t know what to do, I’m getting older, right? You’re in your 50s or 60s, and like retirements coming, I don’t know what I’m going to do, please share this with them. Let them hear it. Tell them if you’ve been trading for a while, share your experience and be like you know what this stuff actually works. If you know it works, if you’ve been able to do it, if you haven’t, and stuff is not working for you, please reach out to us. And we’ll point you in the right direction. Okay. And then, if you are in that category, of somebody in this survey where you are very, very wealthy, and you don’t have time, then maybe reach out to us. And we can point you in the right direction of some advisors that we know that would be able to help you that are very, very good at what they do, and that they can actually help you and manage your money for you. But they are actually really, really good at trading and investing for their own money. So we know that they can handle your money, because we do in our network. And in our customer base. We do have several people who are investment advisors, wealth planners, financial planners. And so we know they know their stuff, because they’ve learned it from us. They learned how to do the passive trading, so they can actually help you. So if you need somebody like that reach out to us as well. We’ll try to hook you up and connect you.

All right. So this is my warning. This is a sad day that you have to be more than a millionaire to retire on time. Or even if you are a millionaire, you might never retire. That’s that’s pretty sad. So today’s just some sad news for a lot of people out there. But hopefully for you. This has been an epiphany, you know, a light bulb gone off like hey, maybe I can do something about this, maybe this passive trading stuff I should look into, and I hope you do. Alright, so until next time, may trade with the odds in your favor and take care

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