Rebecca Walser

speaker

151 appearances 2 recordings 1 series first heard Jan 2018 last heard May 2018

Rebecca Walser’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Have a $1 Million 401(k)? You're Not Ready to Retire · 18 May 2018 podcast

And their response was, well, we all need more revenues.

So what does that tell you?

So, you know, if you can at all contribute to the Roth and get a match, that would be the best option.

The second option from there is if you cannot do that and you need to contribute to a traditional in order to get a match, contribute to the traditional to get the match as much as you can.

But then beyond the match, look for something else like the Roth.

If you are income phased out of the Roth, which a lot of people are, then you have to look outside of the Roth for some different, you know, tax advantage vehicles.

You know, unfortunately, I wish it were, but we've got two things happening.

So we've got, first of all, a really new study that's saying the next 10 years, Social Security will start to just cover what Medicare and medical costs are going to cost the average American.

So 10 years from now, if we start to say Social Security, if we even get it to the extent we get it, we'll cover medical costs.

You're looking at having to draw all of your lifestyle needs from whatever you've saved.

And you know the 4% rule, which the 4% rule is actually debunked.

It's too aggressive.

But let's just take the 4% rule that everybody knows.

4% of a million dollars is only $40,000 a year.

You tell somebody that's got a million dollar retirement account that they can only live off of $40,000 a year and they're very, very disappointed.

So I don't think that people understand that a million dollars, you know, to last you potentially 30 years of your life, 65 to 95, if you live, you know, if you're, you know, lucky to live that long, it's just not going to really give you the lifestyle you think you're going to get.

What I'm going to tell you is this is the thing.

It's great.

We all have this euphoric feeling right now of the market.

But what I will tell you is even Warren Buffett wrote the letter to his shareholders this year saying to expect a 50% loss, to expect a 50% decline in this market.

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