See The Forest Through the Trees

How does your net worth compare to other Americans your age? According to the latest Federal Reserve data, the average net worth for Americans ages 65–74 is nearly $1.9 million, but the median is just $431,300. So where do you rank?

In this video, Colin Exelby, CFP® breaks down the average and median net worth by age, from your 30s through retirement, to help you understand how your finances compare to other households.

But having a high net worth doesn't necessarily mean you're financially prepared for retirement. We'll explain why home equity, retirement savings, Social Security, pensions, and investment income all play important roles in determining your financial security.

Federal Reserve Board. Changes in U.S. Family Finances from 2022 to 2025. October 2026. Table 2 on printed page 12 supplies age brackets and net worth figures. Footnote 36 on printed page 42 explains the exclusion of Social Security and defined benefit pension wealth.

https://www.federalreserve.gov/publications/files/scf26.pdf

#NetWorthByAge, #RetirementPlanning, #RetirementSavings, #AverageNetWorth, #RetirementIncome, #RetirementStrategy, #SocialSecurity, #RetirementWealth, #FinancialPlanning, #retirementtips

00:00-Intro

00:46-What is Net Worth?

01:50-Average vs Median Net Worth

02:30-Net Worth Under Age 35

03:13-Net Worth Age 35-44

04:02-Net Worth Age 45-54

05:11-Net Worth Age 55-64

06:00-Net Worth Age 65-74

06:51-Net Worth Age 75+

07:26-Why Two Couples With $1 Million Can Have Different Retirements

08:05-Why Income Matters More Than Net Worth

08:59-What the FED Net Worth Number Leaves Out

09:44-Three Question to Ask

Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/ ⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

Should you take Social Security at 62, wait until 67, or delay until 70? The difference could be worth hundreds of thousands of dollars throughout your retirement, but the traditional Social Security break-even calculation might be missing some of the most important factors.

In this video, Colin Exelby, CFP® explains the real math behind when to claim Social Security and why choosing the biggest monthly check isn't always the best retirement strategy.

Covering how claiming Social Security early versus delaying until 70 impacts your investment portfolio, retirement income, taxes, and long-term financial security and exploring how married couples can coordinate their benefits, why survivor benefits matter, and how market downturns could change your claiming strategy.

You'll learn why the traditional break-even age can be misleading, how Social Security interacts with your 401(k), IRA, and Roth conversions, and why your health, lifestyle, and retirement goals should play a major role in your decision.

➡️ ➡️ How Social Security Is Taxed (2026)

https://celestialwm.com/how-social-security-is-taxed/

➡️ ➡️ Social Security Claiming Strategy Guide (2026)

https://celestialwm.com/social-security-guide/

➡️ ➡️Social Security Playlist:

https://www.youtube.com/watchv=TZMFG7WiW3E&list=PLjypohR2dKqPTiZjfZjogskeAaAmublbZ

#SocialSecurity #SocialSecurityBenefits #RetirementPlanning #RetirementIncome #SocialSecurityAt62 #SocialSecurityAt70 #FinancialPlanning #RetirementStrategy #RetirementTaxes #retirementtips

00:00-Intro

01:05-The Traditional Break-Even Math

03:18-Why Waiting Can Still Be Valuable

05:38-What If Both Spouses Earned About the Same Amount?

06:38-What If You’re Single?

07:22-Don’t Forget Age 65

08:22-If You’re Still Working

09:22-Markets Can Change the Decision

10:17-Then We Have Taxes

11:27-What Is the Money Actually For?

12:13-So Who Wins — 62, 67 or 70?

Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/ ⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

Leaving money to your grandchildren is one of the greatest gifts you can give, but making the wrong estate planning decisions could leave them with unexpected taxes, legal complications, or an inheritance they aren't prepared to manage.

In this video, Colin Exelby, CFP® discusses 4 costly mistakes grandparents make when leaving money to their grandkids, including misunderstanding the $19,000 gift tax exclusion, naming minors as beneficiaries, passing down traditional IRAs without considering the 10-year withdrawal rule, and adding grandchildren to a home's deed too early. I'll also explain how trusts, Roth conversions, 529 plans, and proper beneficiary planning can help protect your family's wealth, minimize unnecessary taxes, and ensure your grandchildren receive their inheritance the right way. If you're planning to leave behind a financial legacy, these are mistakes you'll want to avoid.

#EstatePlanning #InheritancePlanning #RetirementPlanning #WealthTransfer #Grandchildren #FinancialPlanning #InheritanceTax #EstateTaxes #IRAPlanning #GenerationalWealth

00:00-Intro

00:50-Mistake One Confusing the Gift Tax Rule With a Medicaid Rule

03:02-Mistake Two Naming a Minor Directly Without a Plan

05:09-Mistake Three Treating an IRA Like Ordinary Cash

08:00-Mistake Four Adding a Grandchild to the Deed

Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/ ⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Recommended Financial Planning Tools👇

Budgeting...👇

★☆★ Rocket Money (originally called as TrueBill) ★☆★

https://rocketmoney.sjv.io/CelestialWM

Wealth Management...👇

★☆★Personal Capital ★☆★👇

https://personalcapital.sjv.io/CelestialWM

Bookkeeping...👇

★☆★Gusto Bookkeeping★☆★👇

https://gusto.pxf.io/CelestialWM

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

Retirement changes more than just your daily routine. Once your paycheck stops, the way you manage your money, taxes, healthcare, and investments needs to change too. In this video, Colin Exelby explains10 important financial upgrades you should make when you retire to help protect your savings, reduce unnecessary taxes, and make your retirement income last longer.

From creating your own retirement paycheck and choosing when to claim Social Security to managing Roth conversions, reviewing insurance policies, and updating your estate plan, these are decisions that can have a major impact on your financial future.

Complete Social Security Claiming Strategy Guide ➡️ https://celestialwm.com/social-security-guide/

Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

#RetirementPlanning #RetirementTips #RetirementIncome #FinancialPlanning #RetirementStrategy #SocialSecurity #RothConversion #RetirementSavings #RetirementTaxes #RetirementAdvice

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

00:00-Intro

00:20-Your Paycheck

01:41-Your Health Insurance

02:30-Your Spending Money

03:36-Your Tax Strategy

04:45-Your Cash

05:48-Your Beneficiaries

06:58-Your Insurance

07:55-Your Estate Plan

08:43-Your Social Security Plan

09:52-Your Survivor Plan

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/ ⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Recommended Financial Planning Tools👇

Budgeting...👇

★☆★ Rocket Money (originally called as TrueBill) ★☆★

https://rocketmoney.sjv.io/CelestialWM

Wealth Management...👇

★☆★Personal Capital ★☆★👇

https://personalcapital.sjv.io/CelestialWM

Bookkeeping...👇

★☆★Gusto Bookkeeping★☆★👇

https://gusto.pxf.io/CelestialWM

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

Which states are the cheapest—and most expensive—to live in America in 2026? In this video, Colin Exelby, CFP® breaks down the latest cost-of-living rankings, comparing housing, groceries, utilities, transportation, healthcare, and other everyday expenses across the country. You’ll see why Oklahoma ranks as the cheapest state, why Hawaii sits at the other extreme, and how a lifestyle costing $60,000 in Oklahoma could cost nearly $133,000 in Hawaii. We’ll also look at surprising results from states like Florida, Texas, and Maryland and explain why your location can have such a major impact on your retirement plan.

More New Yorkers Are Moving to Philadelphia Than Any Other City, According to New Report: https://philadelphia.today/2026/09/new-yorkers-are-moving-to-philadelphia/

#Retirement #CostOfLiving #RetirementPlanning #BestStatesToRetire #CheapestStates #RetirementTips #PersonalFinance #RetirementIncome #FinancialPlanning #retiresmart

00:00-Intro

01:22- 10th Cheapest State

01:57- 9th Cheapest State

02:29- 8/7th Cheapest State

03:09- 6th Cheapest State

03:42- 5th Cheapest State

04:19- 4th Cheapest State

04:42- 3rd Cheapest State

05:05- 2nd Cheapest State

05:42- 1st Cheapest State

09:10- 5th Most Expensive State

10:15- 4th Most Expensive State

10:41- 3rd Most Expensive State

11:09- 2nd Most Expensive State

12:06- 1st Most Expensive State

13:04- Cheapest vs Expensive State Side by Side

Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/ ⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Recommended Financial Planning Tools👇

Budgeting...👇

★☆★ Rocket Money (originally called as TrueBill) ★☆★

https://rocketmoney.sjv.io/CelestialWM

Wealth Management...👇

★☆★Personal Capital ★☆★👇

https://personalcapital.sjv.io/CelestialWM

Bookkeeping...👇

★☆★Gusto Bookkeeping★☆★👇

https://gusto.pxf.io/CelestialWM

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

Social Security spousal benefits can be confusing, especially when you hear that you may be eligible for up to 50% of your spouse’s benefit. But that doesn’t mean you receive half of your spouse’s check on top of your own benefit.

In this video, Colin Exelby, CFP® explains how the 50% Social Security spousal benefit actually works, how your own benefit factors into the calculation, what happens if you claim early, and why delaying until 70 doesn’t increase the maximum spousal benefit. We’ll also look at how couples can coordinate their filing decisions and consider the impact on future survivor benefits.

➡️ ➡️ Check out my comprehensive Social Security Guide: https://celestialwm.com/social-security-guide/

00:00-Intro

00:52-50% × Higher Earner's Full Retirement Age Benefit

03:24-Current Spouse: Worker Must Be Receiving Benefits

04:18-Waiting until 70 does not increase the 50% amount

05:25-The early-filing trap: “up to” 50%

06:38-Should the higher earner wait until 70?

09:16-When the answer may change

10:08-The five numbers to check before filing

#SocialSecurity #SocialSecurityBenefits #SpousalBenefits #SocialSecuritySpousalBenefits #RetirementPlanning #RetirementIncome #SocialSecurityTips #RetirementStrategy #RetirementTips #SocialSecurity2026

Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/ ⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Recommended Financial Planning Tools👇

Budgeting...👇

★☆★ Rocket Money (originally called as TrueBill) ★☆★

https://rocketmoney.sjv.io/CelestialWM

Wealth Management...👇

★☆★Personal Capital ★☆★👇

https://personalcapital.sjv.io/CelestialWM

Bookkeeping...👇

★☆★Gusto Bookkeeping★☆★👇

https://gusto.pxf.io/CelestialWM

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

If you’re retired and thinking about paying cash for your next car, you may want to reconsider before writing that check.

Paying cash might feel like the financially responsible choice—no monthly payment, no interest, and no debt. But depending on where that money comes from, paying cash could actually cost you significantly more than you realize.

In this video, Colin Exelby, CFP® explains why retirees should think twice before automatically paying cash for a vehicle, how financing can sometimes work in your favor, and why the account you use to fund a major purchase can have a big impact on your retirement.

We’ll cover how to negotiate the actual price of the vehicle instead of the monthly payment, when low-interest financing could make sense, and why pulling $50,000 from a traditional IRA could potentially create additional taxes, affect Social Security taxation, and even increase future Medicare premiums.

The question isn’t simply, “Can I afford this car?”

The better question is: Which money should I use to pay for it?

Before making your next major purchase in retirement, make sure you understand how it fits into your overall retirement income and tax strategy.

#Retirement #RetirementPlanning #RetirementIncome #RetirementTaxes #FinancialPlanning #CarBuying #IRA #SocialSecurity #Medicare #retirementtips

00:00-Intro

00:46-Don't Tell The Dealer You're Paying Cash

02:05-Negotiate the Car: Not The Payment

03:30-Sometime Financing Makes the Car Cheaper

05:00-The $50,000 Car Can Turn Into a $70,000 Car

06:51-This is Where Retirement Planning Changes the Answer

09:31-How I'd Actually Buy the Car

10:43-When Cash is Still the Right Answer

Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/ ⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

If you have a pension, how much do you actually need to invest for retirement? Do you still need to save 15%, 20%, or even 25% of your income—or could your pension mean you're already saving enough?

In this video, Colin Exelby, CFP® explains how to look at your pension, Social Security, 401(k), IRA, and other investments as one complete retirement plan. Rather than chasing an arbitrary savings number, you'll learn how to calculate the income gap your investments actually need to cover.

We also cover how having guaranteed pension income can affect your investment strategy, whether you may be able to save less, the importance of inflation and survivor benefits, and why building investments outside of your pension can give you more flexibility to retire on your terms.

Ultimately, retirement isn't about accumulating the largest possible portfolio. It's about creating enough reliable income and flexibility to fund the retirement you actually want.

#RetirementPlanning #Pension #PensionPlanning #Retirement #401k #SocialSecurity #Investing #RetirementIncome #FinancialPlanning #RetirementSavings

00:00-Intro

00:44-Start With the Income Gap

02:19-Your Pension Has a Value

03:13-Your Pension Can Change

06:25-Should You Save Less

09:00-Why I Still Like Saving Even With a Pension

10:00-Could You Save Too Much

11:00-The Calculation

Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/ ⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Recommended Financial Planning Tools👇

Budgeting...👇

★☆★ Rocket Money (originally called as TrueBill) ★☆★

https://rocketmoney.sjv.io/CelestialWM

Wealth Management...👇

★☆★Personal Capital ★☆★👇

https://personalcapital.sjv.io/CelestialWM

Bookkeeping...👇

★☆★Gusto Bookkeeping★☆★👇

https://gusto.pxf.io/CelestialWM

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

Many investors believe an S&P 500 index fund gives them all the diversification they need. After all, owning the S&P 500 means owning approximately 500 of the largest publicly traded companies in the United States.

But the S&P 500 is market-cap weighted, and its ten largest companies now represent a significant portion of the entire index. Investors may also unknowingly increase that concentration by owning an S&P 500 fund alongside large-cap growth funds, Nasdaq funds, technology funds, or target-date funds that hold many of the same companies.

In this video, Colin Exelby, CFP® explains whether the S&P 500 alone is enough for a retirement portfolio and why owning hundreds of stocks does not always provide the diversification investors expect.

You’ll learn:

• How market-cap weighting creates concentration inside the S&P 500

• Why owning several different funds may still result in overlapping investments

• The difference between market concentration and predicting a market crash

• How sequence-of-returns risk affects retirees taking portfolio withdrawals

• When portfolio rebalancing may help control risk

• How bonds, value stocks, small-cap stocks, international equities, and equal-weight strategies may fit into a diversified retirement portfolio

The S&P 500 can remain an efficient and valuable long-term investment. The real question is whether your entire retirement plan should depend so heavily on the same small group of companies continuing to lead the market.

00:00-Intro

00:41-How The S&P 500 Actually Works

01:20-What is Fund Overlap?

02:27-What the Fund Data Doesn't Tell You

03:48-Analyze Your Fund Holdings

04:08-Compare Current vs Intended Allocation

04:37-Examine Diversification Within Equities

05:38-Consider the Tax Impact

06:08-The Bottom Line

[About] Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

Topics covered regularly include:

• Social Security claiming strategies

• How Social Security is taxed

• Roth conversion timing

• Retirement withdrawal strategies

• Tax-efficient retirement income

• IRMAA and Medicare premiums

• Retirement mistakes to avoid

• Survivor planning strategies

• Retirement planning for business owners

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.

Some purchases can make you look wealthy while quietly reducing your financial freedom.

In this video, Colin Exelby, CFP® explains six purchases that wealthy retirees tend to approach carefully—not because they refuse to spend money, but because they understand the difference between intentional spending and permanent financial obligations.

The six purchases include:

• Vacation homes

• Timeshares

• High-fee annuities

• High-fee mutual funds

• Luxury car leases

• Vacation clubs and luxury memberships

You’ll learn how recurring expenses, surrender charges, mutual fund expense ratios, maintenance costs, and difficult exit provisions can gradually reduce your flexibility in retirement.

The discussion of high-fee mutual funds includes real-world examples from Capital Group, J.P. Morgan, and T. Rowe Price. It also explains how investors can use free research tools such as Morningstar and Portfolio Visualizer to investigate investment expenses and compare higher-cost mutual funds with lower-cost ETFs.

This does not mean every vacation home, annuity, mutual fund, luxury vehicle, or membership is a bad purchase. The important question is whether the purchase supports the retirement you want—or creates an obligation that controls your future decisions.

Before making a major retirement purchase, ask:

Will this increase my flexibility or reduce it?

Will it increase the fixed expenses I must cover?

If my circumstances change, will I still be glad I bought it?

#RetirementPlanning #RetirementIncome #FinancialPlanning

00:00-Intro

00:35-Retirement Changes the Question

00:57-Vacation Home

02:16-Timeshares

03:20-High-Fee Annuities

04:56-High-Fee Mutual Funds

08:18-Luxury Car Leases

09:33-Vacation Clubs and Luxury Memberships

11:15-The Three-Question Filter

[About] Colin Exelby, CFP® is a CERTIFIED FINANCIAL PLANNER™ Professional, founder of Celestial Wealth Management, and creator of See the Forest Through the Trees (STFTTT), an educational platform focused on retirement planning, retirement tax strategies, Social Security analysis, Roth conversions, and financial planning for retirees and business owners.

This channel focuses on helping retirees, pre-retirees, and business owners make smarter financial decisions through tax-aware planning, long-term thinking, and real-world retirement strategies.

No fear-based financial media. No hype. Just clear explanations and practical retirement planning frameworks.

➡️ ➡️Free Retirement and Financial Planning Resources Here: https://celestialwm.com/ptpebook-go/⬅️⬅️

⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join

Recommended Financial Planning Tools👇

Budgeting...👇

★☆★ Rocket Money (originally called as TrueBill) ★☆★

https://rocketmoney.sjv.io/CelestialWM

Wealth Management...👇

★☆★Personal Capital ★☆★👇

https://personalcapital.sjv.io/CelestialWM

Bookkeeping...👇

★☆★Gusto Bookkeeping★☆★👇

https://gusto.pxf.io/CelestialWM

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.

DISCLOSURES

Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas.

Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.

This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.

Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.

Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.

Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.