With record high inflation and recession looming, retirement planning for most Americans is on the back burner yet again.

Surprisingly, seventy-eight percent of Americans surveyed stated that they were either “doing OK financially” or “living comfortably” in the quarter of 2021, according to the Fed’s Survey of Household Economics and Decisionmaking (SHED), an annual poll of how U.S. adults are faring economically.

In truth, many are struggling to keep up. Both instances can’t be right? Well Q1 2022 pulled the rug from under our feet. The rise of groceries and gas translates to an extra $5,000 of unanticipated expenses with one place to pull from, retirement savings.

Either folks will invest less for their retirement accounts or pull money out of them; both won’t end well. One thing for sure, according to the TransAmerica Center for Retirement Studies survey, the median retirement savings for Americans in their 50s is $117,000.

That won’t last long even with an average social security of $20,000 per year. Most are effectively retiring broke.

Table of Contents

A Pending Retirement Crisis

When it comes to retirement planning, the question isn’t at what age I want to retire, it’s at what income.
George Foreman

While there are a tons of great content on YouTube, it’s often difficult to sort through what works.

This is a list of the people that I vetted who consistently deliver quality content related to retirement saving, planning and withdraw strategies. It’s process, the goal is to educate as many as possible. Additionally, it pays to get ahead of your parents’ retirement planning as well.

Why Retirement Planning Works Best If Done Sooner

retirement planning doesn't have to be all bad — Retirement Math be Mathing

As you (and your partner) start retirement planning journey, you will be met with unexpected demands and curve balls. Nonetheless, modern challenges can be added to your financial wealth outlook to address:

Inflation and tax liability,
Future Healthcare costs and needs,
Cash Flow and inheritances

The sooner you start the better. One of the misconceptions of youth is that you have time. If they can do that, I added them on the list. Know of anyone else that should be included, comment below.

If you want to be wealthy, start with changing the content you watch and the content you seek. Broaden your playlist, you are missing 99% of the most impactful media in your life.

Without pressing the issue, here are The Neighborhood Finance Guy’s Fave Five YouTubers who specialize in Retirement Wealth Strategies. You can also learn a myriad of financial expertise, money management, mindset development, investing and real estate.

Retirement planning and how it functions — Retirement Spending 101

1. Get the Pulse of your retirement plan with Your Financial EKG

Drew Blackston and I am the founder of Pearl Wealth Group and the Your Financial EKG financial planning systems. Drew started his career in 2009 when the stock market had just suffered the worse crash since the Great Depression.

He saw families and individuals who lost everything because of poor retirement planning. I am dedicated to not allowing that to happen to my clients!

Whether you are just starting to save for retirement or you’re a seasoned investor already in retirement, my channel is here to help you. I publish videos that help you save money on your taxes, plan out your retirement income, invest strategically for your retirement future, and help you live out your dreams of being financially free in retirement.

Also check out: Can I retire with $1,000,000, Numbers you need to know before you clock out, Average Income for retirees across America.

2. Streamline Your Financial Retirement Plan

With each video, Streamline Financial teaches how to plan, how much you need and how to take money out.

Especially when markets go down, it’s also hard to watch the value in our accounts go down. It can even cause some to second guess if they’re doing the right thing. But if we spend just a few minutes preparing our portfolio for scenarios like this, we’ll have a much smoother ride and more confidence with your retirement plan.

Check out these highlights when you have the time: 3 Must-Have Assets When Retirement Planning., How Much Is Enough?, and 3 Things No One Tells You.

3. Approach your Finances with confidence with Justin Pritchard, CFP

Personal finance videos from Justin Pritchard, CFP®.

His topics focus on retirement planning, investment management, financial planning, and more. Justin Pritchard is a fee-only Certified Financial Planner practitioner based in Montrose, Colorado with over 15 years of experience helping clients plan for the future.

If you want to learn about when you can retire, how to do it in comfort, and what to watch out for as you move into the next chapter of life.

Some of his top content include; Should you pay off your mortgage, 401k to IRA conversions, and Taxes to look at for during withdrawals.

4. The Money Guy Show is a one-stop shop for all your financial planning needs

Never boring, always enlightening, the Money Guy Brian Preston with co-host Bo Hanson discuss a wide range of timely financial topics that can help you go beyond common sense. When you subscribe, you get the latest shows and highlights, https://goo.gl/7XrGvj.

They are professionals with a great energy and open source for information. Their focus is on financial planning and investment management. Additionally, they leverage all of their knowledge for your benefit.

If you are ready to go beyond common sense when it comes to your money, this is your definitive source. Check bonus resources, https://goo.gl/pPiLm6.

Bonus, these were the guys that taught me how to set up a month-to-month financial plan.

5. Retirement Planning Demystified

“Demystifying” retirement planning by providing easy-to-understand explanations of the various pieces that go into financially planning for retirement. Topics covered include Social Security, pensions, annuities, budgeting, IRAs, Roth IRAs, 401(k)s, 403(b)s, investments, Medicare, insurance, housing, estate planning and taxes.

It’s a bit more dry but I like my finance information boring so it really works. Here are a few highlights:

Got to Start Living Beyond Retirement!

As long as I could remember, I wanted to travel and experience history.

It’s like due to the History channel and the Learning Channel when they weren’t about reality TV or ancient aliens.

For me, early retirement is about travel the world, and reconnecting with my humanity. In the end, I wanted to prove that where you start, doesn’t have to be where you end up.

We started to chronicles our stories through the Financial Griot Podcast. Hope to see you out there in the world.

If you like this list and don’t know where to start with your personal finances, try out TNFG’s Favorite Financial Literacy YouTubers

Here’s what the TNFG household is working toward for the rest of 2022-2023?

Working on investing an additional $15,000 in M1 Finance Brokerage to generates at least $5,000 in dividend Income in 2024. Check out the portfolio in real time. If you like the platform and want to start investing, I have the $10 for $10 referral – https://m1.finance/SYdqDJ2SyADC.
Developing a more efficient Emergency Plan. But first, time to boost the bank savings to $5,000. If you need help tracking your savings, net worth, investments, retirement portfolio and more for FREE, sign up for Personal Capital! Bonus $20 Amazon gift card, *Terms apply. https://pcap.rocks/lawrencegonz
Getting back to shape – HIIT Mornings. Running, and biking just pushing out effort. I say it all the time but it’s still good. Check out some HIIT workouts to get your blood pumping.
Buying a New Home!