Kevin Olieri tells the Americans to rethink the goals of retirement, the social security alone says: “Throw your plan for freedom in 55 or even 65.”
Kevin OlieriAnd a prominent businessman and investor from ABC’s Shark Tank, recently shared his view on social security and pension planning.
What happenedO’Leary confirmed that social security was not supposed to be the only source of income for retirees. He pointed out that the average monthly payment, about 1900 dollars or about 23,000 dollars per year, is not sufficient for comfortable retirement, I mentioned Street on Monday.
He recommended plans 401 (K) sponsored by the employer and the traditional Ira as alternatives, and which provides the company in conformity with tax contributions and benefits, respectively. Roth Iras, which requires the submitted tax payments, allows tax -rated withdrawal during retirement.
O’Leary also treated the issue of the amount of money needed for comfortable retirement, saying: “You need less than you imagine, and panic does not help to do so. The best antidote to panic is realism.”
He suggested that retirees should aim at about 65 % of their total salary while they stop working, which is also mentioned in his book A cold fact, difficult for men, women and money.
Oliri stressed the need to control spending habits and eliminate debt before retirement. “Do not retire until you can bear its costs, … get rid of your plan for freedom in fifty -five or even sixty -five,” he advised, with highlighting the importance of the budget, disciplined spending, and working part -time if necessary.
Why do it matterO’Leari’s advice comes at a time when concerns about the future of social security are leading more Americans to demand the advantages early than his plan. This trend, along with fears of savings in retirement, pushes many retirees to the working group, as shown in a recent survey of Da Davidson.
Moreover, the debate about the value of social security was a hot topic, with the financial teacher Dave Ramsey It is called “-4 % return”. but, Colin ExcelVirtual financial advisor in Heavenly wealth management He mentioned that social security decisions are affected by factors such as income, taxes, timing and market conditions. There is no global answer – individual conditions are the key. O’Leary visions provide a new point of view on this continuous discussion.
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Disintegration: This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Beenzinga editors.
