I like how you keep these relatively short, some people prattle on for 20 - 30 minutes and it gets brutal. Always appreciate the layman's perspective that Joe provides!
I have no desire to "work" in my retirement, which to me means someone else is controlling my time and squelching my freedom. I retired specifically for the freedom (ie. no alarm clock 😉) . For now, I'm focusing on my health, doing volunteer work, and trying new hobbies. I may eventually find/create a side-gig that produces some income, but I'm not focused on that. Lately, I've been selling various things on Facebook Marketplace, which is fun and gives me a little extra cash.
I have always defined "work" differently than most. My definition of work is: "what I am doing when I would rather be doing something else." Employment always had a work component to it. Retirement really is, for me, never having to work again. Good vid, as usual, Joe. Hope you enjoyed your visit to the northwest. It just got cold here today in Utah. Been a fantastic Summer.
Great video! Crater Lake was one of the places I visited on a long trip I took last year right after retiring at 55. I did take a part-time teaching job at a much smaller school. I don’t need the money, but it’s nice. The main thing is I really like the environment, I have great classes and I teach every other day, still with summers off. I’ll take it one year at a time and won’t stay if I don’t feel appreciated, but so far it’s been great for me.
I retired this year at 59. I was in the trades for 40+ yrs. I still small jobs like hanging lights, fixing door knobs it’s nice to have a little “ walking around money”, but I don’t need it. I don’t commit to anything tho. No stress. We spend winters in S FLA where I don’t work at all, just golf, working out, fishing, etc. loving life! Have been watching your channel for about a year and enjoy it a lot. $34k is a nice bonus for not killing your self at work.
Thanks Joe for another great video and being one of my advisers as I prepare for my early retirement. I love the Boldin financial planning software that you recommend.
This is another great video that is timely for me. I am 61 and went to 3 days a week at my current position as a way to phase into retirement and to see if that might allow me to work a little longer. Instead, I see that all of the stress is still there. I feel like they are trying to get the same amount of work from me in 3 days and at 60% of the cost. Listening to your videos is helping to reinforce the thought that the time to break free is coming soon. As far as the RUclips revenue, I am surprised at how much it was and am happy to hear it. I have a nephew who does a series of self help videos on various platforms (including RUclips) and I am glad that doing something like this is good for some supplemental income. (I can share a link to his channel if that is ok with you. He is from the next generation so his topics do not involve a retirement point of view, but he does speak a lot about time management)
I retired in June but just started teaching one class as a adjunct. I get a pension and don't need the income, but I only work three days a week in the morning. It's great and doesn't even feel like working. I still get to teach and socialize with colleagues but have plenty of time for other things. Enjoy your time in Oregon. I graduated from the UofO.
Working in engineering, I was amazed how many senior engineers, managers, and even senior managers came back to the company as contractors. It brings me a smile for some reason when I see anyone declare their retirement (especially in their very early 50's) after a long career.
Great great video Joe!! Now that I am in the process of doing the calculous around early retirement, your videos have been an invaluable source of honest, direct, actionable guidance! I am constantly courted by financial advisors and very leery on a gut level but this video was a huge help in understanding theiir motivations - not only aorund AUM but also the push to take SS early. Very Very insightful! Thank you!
Thanks Joe. I'll throw out a somewhat similar situation as working in retirement....taking in a dog. I recently retired and we took in a dog from a family member that could no longer care for it. Yes, it was voluntary, but there are pros/cons. Pros are the enjoyment and motivation to exercise. Cons are that it becomes an alarm clock replacement, loss of spur of the moment travel/activities, and additional costs (food, medical, boarding, etc.). Those in or close to retirement should give serious consideration before adding a dog to their life.
Retired in 2020 at 55. First responsibility is spending time with the grandkids, while they're still young. That won't change. But, I have worked several part time jobs and found one I really enjoy, learning new things everyday. And I continue to volunteer in the local fire department, keeping up my firefighting skills. I guessed higher, $43,000, but I know RUclips is making difficult for content creators, so no surprise. Thanks for sharing.......
I was planning to have a couple side hustles in retirement. About 5 years ago, I was targeting to get 3-5 acres in the boonies and starting up a small plant nursery for a retirement gig to supplement my income. But after getting a-fib, I had zero energy for physical labor so I pivoted from that planned endeavor. Plus, I thought about living out in the country and realized I’d really feel isolated. My other side hustle was raising baby sun conures, and “re-homing” them for a fee. Back about 5-8 years, two of my birds started breeding. And I really enjoyed raising the baby birds. I figured it would supplement my monthly income in retirement by about $500 per month. But since moving, the birds haven’t produced. According to Boldin, I really don’t need that supplemental income stream in retirement.
Spot on, especially about financial advisors' incentives. More money than I thought in YT. Retirement is when time becomes more important than money. Worked part-time for 3 years to transition into retirement at age 59 because we needed to secure our retirement income. My observation is the biggest reason people continue to work on retirement other than money need are their relationship with their spouse and loss of personal identity. Life happens anyway.
I thought 10 years ago of doing a tube, to help the 50 plus crowd, just like you, but procrastination set in. Now 64, single again and basically retired. Trade the mrkts a bit, Diy my own invstms. I volunteer a few days a week, travel between Chicago, Denver & Atl to see kids n bro. Bit of a gypsy at the moment, no perm place post divorce. Feels goods to put all my stuff in car n go. To be honest we just accumulate STUFF all our lives n often wonder, what for. I enjoy your videos, I tell everyone I know, if you won the game STOP PLAYING!
Spot on about advisors. My $ is with a state directed firm. I have sound products for me. When I first gave them my desired retirement date their response was, sure if you work part time for a least five years after that date. They know many will freak out and stay and contribute for 2 or more years f/t, which helps them. This fall I reminded them of my date and said you will need to show me how my funds will work with no addl employment. They did and I will be fine. They are nice and knowledgeable but they aren’t your pal! They have a $ stake in your $ and will always encourage deposits over withdrawals.
Financial Advisor/CFP since 1986 and never once have I advised on my benefit of clients working longer. If you are doing right by clients, they refer you to more which opportunities and those new assets easily replace asset pools spent down. I guess those who have worked for others and never had the guts to be an independent can’t understand that-to make one of your main points a shot against an entire industry is not something I would have expected from this channel. I heard the disclaimer “some aren’t this way” … I will send you loads of my client testimonials years into spending their assets to say there is an advisor not motivated by their own interests.
Joe just stated some facts. Even if a CFP had a genuine positive testimonial, it doesn’t mean the client wasn’t charged excessive fees - it just means the client didn’t work what’s going on yet!
Nice summary, crater lake is pretty amazing (and the hike down and back up is a bit of a climb!). You probably already know this but you can (probably) deduct your healthcare costs from your RUclips revenue (which makes healthcare sort of tax free).
Joe, great video! Congratulations on your 12-month RUclips cash flow- well earned and deserved based on the tremendous value you add to us in your videos. I would have guessed $40k which would have been a wild guess but close lol. Being in the wealth management business for 36 years I think a bigger problem is that such professionals are just too darn conservative (can anyone say Suzie Orman lol) out of typically sincere caring about securing their clients’ retirement - in fact I drank too much of my industry’s ultra conservative koolaid and if it weren’t for you I would likely be working several more years. I think your definition of “working in retirement” is so good that it is making me realize that working part time in my current role would NOT work for the negative reasons you mentioned re stress and lack of flexibility and this video made me decide to just retire completely on March 1, 2025 and then figure things out after that 6 month period of “saying no to everything” you recommend. As always thank you for the inspiration and fantastic, invaluable content!
I’ve continued working even though I consider myself retired since 2015. I was self employed, sold most of my business, and really just stopped hustling so hard. I haven’t had an actual job but I’m either doing things for the businesses that I still own or I’m helping people who call and ask if I can help them. I’m running a combine helping a friend harvest rice next Tuesday. Working has allowed me to spend more than I probably would have otherwise but the real reason I work is because that’s all I have ever known. I have hobbies that I enjoy, I don’t have a schedule, and I won’t work if I don’t want to. I am getting better about working less but I find that it has a sense of accomplishment and comfort. In addition, I find that Mrs Failure is never mad when I tell her that I’m going to be gone all day 😂
When I retire from my career, I’m going to take some months off to detox 😂 and get into financial coaching. I won’t ever do the kind of work where I’m not my own boss and something I’m passionate about. I’m looking forward to the day in less than 2 years!
Peter in the U.K. I'm what I call semi-retired and trying to build-up professional high-end car chauffeuring. So far I'm 4 months into it and finding my feet freelance chauffeuring. I love all things car related and don't feel this is a job as such - it motivates me because I love doing it. It's customer demand led and I'd like to do more of it to top-up my pension. My career was corporate based, long commutes and at times long hours - at just shy of 65 years of age I don't want that working lifestyle now and the motivation of that is lost on me due to my age and no career scope in corporate life any longer. P.S. so valid your comment on some asset managers - my past asset manager kept saying you should continue working and not retire yet - I'm convinced he was motivated by fee income based on assets under management indeed!
Previously, I would have said working in retirement was a paradox, but I really like the way you defined it. I went to Crater Lake years ago and the ferry to Wizard Island was closed. Maybe worth a revisit?
Thought your revenue would be $50k, closer to your # of subscribers. But still, nice part time gig Joe. You’re good at relating to us retirees! I am fortunate to not have to work after retiring at 62, nonetheless, I think about doing something work-wise. Im determined not to as I know it takes time to adjust. Im 18 months in and getting more relaxed as time goes on. Love the travel and working out!
So, basically the pros and cons of working in retirement are the pros and cons of working and not actually being retired. You missed one big con if you are working in retirement and taking social security: potential reduction in social security.
Hope you enjoyed Crater Lake. Went up there in late October two years ago. Had the whole place to myself. Perfect weather. Also hit Redwood National Park along the NorCal coast on the way up and Lassen National Park on the way back. The $80 for a National Park pass is well worth it living here in the SF Bay Area as there are a dozen national park within a day's drive.
I recently semi-retired by cutting my days worked to 3/week (every Fri, Sat, Sun, what I wanted). I work remotely and hope to work this schedule for 2 years, then fully retire. My manager sends a monthly finalized schedule but doesn't seem to follow it. I have to closely monitor her daily assignment emails on my days off to ensure she doesn't give me an assignment. It's crazy-making. I can't relax because I don't want to get a phone call asking why I am not on the clock; because it is my day off! Geez. So, there's that.
Yes, the revenue from YT is right in line w/ what I would have guessed. I base that on Josh saying that his YT income pays his mortgage. I would think it would be challenging to come up w/ fresh material that keeps people engaged.
Thanks, Joe for another great video! Quick question... can you really call yourself retired if you are still working? I know you are producing great, educational videos and you do that when you want to on your own terms. If someone "retires" from their career and then goes to work 16-20 hours/week, are they actually retired? For me, when I stop working, I will be retired and only engage in hobbies, whether they produce money or just happiness and fulfillment. I appreciate everything you are doing, Joe, and I am so happy Alphabet / RUclips is paying you 2x your pension for your great content!! Keep up the great work! Joe from Texas, OUT!
The thing is this is my hobby. I love helping others with my stories and experiences. I do it for free all the time but RUclips pays me. Each video has 1 hours labor in it so 3-4 hours a week.
Some financial advisers will recommend a very low withdrawal rate and borrowing for major expenses. This approach also keeps more of your money under management.
Totally nailed; nothing to add here.😂 RUclips revenue totally surprising! Go take that big trip to Europe! When we told our financial guy of our desire to retire early, five years prior, he was totally unenthused. We wore him down though. I think once he had his own mid-life crisis, he became more and more receptive to what we were talking about.
It's a great revenue ( $34,700) , especially this is fun for you and help to others. I'm going different route, trying to increase my passive income from divs from stocks and mostly ETFs with rule of 8% ( not 4%) - never sell my investments. So far around the same - passive dividends income 34K. Thank you.
I work about 7 hours a week for cash and the wife unit does 12-20 hours for pay and great insurance. 8 weeks of vacation for her. It is something to do. It does not get in the way.
I think AUM should be illegal IMO... It's just not good for anyone, you don't work as a CPA for a company and just guarantee a portion of their income as a percentage because you do some finances... You get paid a salary based on what your work is worth... People can do like 1 hour of work for a client a year and automate everything and just do it for a hundred clients...
Can you talk about advantage of using annuity as a way to bridge the gap until taking social security at 70 if you retire at 59? My advice is recommending this
YT revenue is way higher than I would have guessed. I’m very impressed. So do all content creators with same number of subscribers earn roughly the same?
Some friends of mine are working hard to open a new brewery not too far from where I live. I hope to pour beer there some, mostly for the social aspects of it but it won't hurt to pick up a little spare cash. I will probably just do it on a fill-in basis, though, so it won't interfere with any other plans I want to make. At this point, at least, this is about as close as I want to get to having a 'job' in retirement...
It is impossible to work in retirement. If you're working you are not retired. Now if you're doing something that you would be still be doing without pay but someone doesn't realize this and is paying you anyways, then keep your mouth shut and enjoy your retirement. As soon as there are obligations or tasks you would rather not do then this is work and not retirement. That was a pretty good chunk of money for RUclips, more than what I expected for a channel of your size, but as soon as you don't want to do it anymore, or it no longer gives you pleasure, please quit with our blessing.
Subs isn't what matters: engagement and watch time matter. There are some channels with subs in the millions, but they don't consistently produce content or if they do, the views and watch time are low.
Always a good talk Joe, happy for you on the RUclips income. It was more than I thought it would be because I listen to Duane on retireon500k and his is $1500 approx per month. Maybe you have more subscribers. Looking forward to hearing more from you.
My husband and I were fortunate enough to be able to pay off our mortgage early. We were both still working, and took the payment amount that we had been using to pay off our mortgage faster and we put it straight into investments. We were able to retire early because of almost 7 years of putting away what would have been our mortgage payment as well as maxing out our 401K/403B plans. Thankfully we were taught by both of our parents the value of living within our means. Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Hi Joe - another great video. As a viewer in the UK, it's not always easy to compare US figures to UK. Not least because we don't have to pay health costs (we have the NHS) and tax works differently. Also we rely much more on pensions. I was wondering, just as an example, if you got an annual income of, say, $70,000 - how much do you actually get? How much of this does healthcare, taxes etc. reduce the income? I appreciate comparing us is a bit like comparing apples to oranges, but it would be very interesting to hear your take on this. Hope you have a great vacation.
That's a good question, and I hope he sees and answers your question. Living in the USA, the answer can vary wildly from region to region. I hope I get a notification when he answers.
Comments from a Brit living in California for 25 years. Income of $70k would get $29k exemption for married couple, then taxed at up to 12% federal and 4% state (in California). Average social security (state pension equivalent) is approx $1900/month. In retirement it’s quite possible to earn $100k without paying any taxes if you have the right mix of social security, investment income and post-tax investments (brokerage account). Lots of YT videos with examples. Pre-65 health insurance is one of the biggest cost differences vs UK, especially with dependent children (they can stay on parents’ insurance up to age 26). Even in a high cost state like California, taxes are much lower than UK, especially for higher income, eg $190k income would only be taxed at max of 31% combined federal and state where equivalent would be well into 45% top bracket in UK. There are many reasons I never moved back - meeting spouse here was easily #1, but higher income and lower taxes certainly helped build a much higher standard of living here for me and my family.
I like how you keep these relatively short, some people prattle on for 20 - 30 minutes and it gets brutal. Always appreciate the layman's perspective that Joe provides!
I have no desire to "work" in my retirement, which to me means someone else is controlling my time and squelching my freedom. I retired specifically for the freedom (ie. no alarm clock 😉) . For now, I'm focusing on my health, doing volunteer work, and trying new hobbies. I may eventually find/create a side-gig that produces some income, but I'm not focused on that. Lately, I've been selling various things on Facebook Marketplace, which is fun and gives me a little extra cash.
this is how I feel
Your RUclips revenue was much higher than I assumed. Congratulations Joe.
I have always defined "work" differently than most. My definition of work is: "what I am doing when I would rather be doing something else." Employment always had a work component to it. Retirement really is, for me, never having to work again. Good vid, as usual, Joe. Hope you enjoyed your visit to the northwest. It just got cold here today in Utah. Been a fantastic Summer.
Nice side gig doing something you love and are very good at!
Thanks Joe, I am 2 months and 13 days away🎉🎉. Your videos are invaluable to me and all my prep and planning.
Great video! Crater Lake was one of the places I visited on a long trip I took last year right after retiring at 55. I did take a part-time teaching job at a much smaller school. I don’t need the money, but it’s nice. The main thing is I really like the environment, I have great classes and I teach every other day, still with summers off. I’ll take it one year at a time and won’t stay if I don’t feel appreciated, but so far it’s been great for me.
Rev was higher than I thought! Awesome
I retired this year at 59. I was in the trades for 40+ yrs. I still small jobs like hanging lights, fixing door knobs it’s nice to have a little “ walking around money”, but I don’t need it. I don’t commit to anything tho. No stress. We spend winters in S FLA where I don’t work at all, just golf, working out, fishing, etc. loving life! Have been watching your channel for about a year and enjoy it a lot. $34k is a nice bonus for not killing your self at work.
Thanks Joe for another great video and being one of my advisers as I prepare for my early retirement. I love the Boldin financial planning software that you recommend.
No alarm clock is good in several ways.
Sleep pattern.
Health.
Mental peace.
This is another great video that is timely for me. I am 61 and went to 3 days a week at my current position as a way to phase into retirement and to see if that might allow me to work a little longer. Instead, I see that all of the stress is still there. I feel like they are trying to get the same amount of work from me in 3 days and at 60% of the cost. Listening to your videos is helping to reinforce the thought that the time to break free is coming soon.
As far as the RUclips revenue, I am surprised at how much it was and am happy to hear it. I have a nephew who does a series of self help videos on various platforms (including RUclips) and I am glad that doing something like this is good for some supplemental income. (I can share a link to his channel if that is ok with you. He is from the next generation so his topics do not involve a retirement point of view, but he does speak a lot about time management)
$34k is damn good revenue for a “hobby” that doesn’t intrude on your retirement lifestyle!
Exactly
I retired in June but just started teaching one class as a adjunct. I get a pension and don't need the income, but I only work three days a week in the morning. It's great and doesn't even feel like working. I still get to teach and socialize with colleagues but have plenty of time for other things. Enjoy your time in Oregon. I graduated from the UofO.
Working in engineering, I was amazed how many senior engineers, managers, and even senior managers came back to the company as contractors.
It brings me a smile for some reason when I see anyone declare their retirement (especially in their very early 50's) after a long career.
Joe - congrats on the YT revenue. That's more than I thought. Love how you show it can be done.
Revenue was far higher than I thought it’d be - Wow! Good for you Joe 👍
Hi Joe! I’m working part Time and love it! Flexible and just good stress. Oregon seems to give you a good vibe!😊
Crater lake is amazing, enjoy! Hopefully it won't snow, too much, while you're there.
Great great video Joe!! Now that I am in the process of doing the calculous around early retirement, your videos have been an invaluable source of honest, direct, actionable guidance! I am constantly courted by financial advisors and very leery on a gut level but this video was a huge help in understanding theiir motivations - not only aorund AUM but also the push to take SS early. Very Very insightful! Thank you!
Thanks Joe. I'll throw out a somewhat similar situation as working in retirement....taking in a dog. I recently retired and we took in a dog from a family member that could no longer care for it. Yes, it was voluntary, but there are pros/cons. Pros are the enjoyment and motivation to exercise. Cons are that it becomes an alarm clock replacement, loss of spur of the moment travel/activities, and additional costs (food, medical, boarding, etc.). Those in or close to retirement should give serious consideration before adding a dog to their life.
That’s really good advice about the financial advisor.
Retired in 2020 at 55. First responsibility is spending time with the grandkids, while they're still young. That won't change. But, I have worked several part time jobs and found one I really enjoy, learning new things everyday. And I continue to volunteer in the local fire department, keeping up my firefighting skills. I guessed higher, $43,000, but I know RUclips is making difficult for content creators, so no surprise. Thanks for sharing.......
I was planning to have a couple side hustles in retirement. About 5 years ago, I was targeting to get 3-5 acres in the boonies and starting up a small plant nursery for a retirement gig to supplement my income. But after getting a-fib, I had zero energy for physical labor so I pivoted from that planned endeavor. Plus, I thought about living out in the country and realized I’d really feel isolated.
My other side hustle was raising baby sun conures, and “re-homing” them for a fee. Back about 5-8 years, two of my birds started breeding. And I really enjoyed raising the baby birds. I figured it would supplement my monthly income in retirement by about $500 per month. But since moving, the birds haven’t produced.
According to Boldin, I really don’t need that supplemental income stream in retirement.
Never ask a barber if you need a haircut. - Warren Buffett
Spot on, especially about financial advisors' incentives. More money than I thought in YT.
Retirement is when time becomes more important than money. Worked part-time for 3 years to transition into retirement at age 59 because we needed to secure our retirement income. My observation is the biggest reason people continue to work on retirement other than money need are their relationship with their spouse and loss of personal identity. Life happens anyway.
I thought 10 years ago of doing a tube, to help the 50 plus crowd, just like you, but procrastination set in. Now 64, single again and basically retired. Trade the mrkts a bit, Diy my own invstms. I volunteer a few days a week, travel between Chicago, Denver & Atl to see kids n bro. Bit of a gypsy at the moment, no perm place post divorce. Feels goods to put all my stuff in car n go. To be honest we just accumulate STUFF all our lives n often wonder, what for. I enjoy your videos, I tell everyone I know, if you won the game STOP PLAYING!
Spot on about advisors. My $ is with a state directed firm. I have sound products for me. When I first gave them my desired retirement date their response was, sure if you work part time for a least five years after that date. They know many will freak out and stay and contribute for 2 or more years f/t, which helps them. This fall I reminded them of my date and said you will need to show me how my funds will work with no addl employment. They did and I will be fine. They are nice and knowledgeable but they aren’t your pal! They have a $ stake in your $ and will always encourage deposits over withdrawals.
Hi Joe, I enjoy your content and presentation....Great topics that I certainly relate
Financial Advisor/CFP since 1986 and never once have I advised on my benefit of clients working longer. If you are doing right by clients, they refer you to more which opportunities and those new assets easily replace asset pools spent down. I guess those who have worked for others and never had the guts to be an independent can’t understand that-to make one of your main points a shot against an entire industry is not something I would have expected from this channel. I heard the disclaimer “some aren’t this way” … I will send you loads of my client testimonials years into spending their assets to say there is an advisor not motivated by their own interests.
Joe just stated some facts. Even if a CFP had a genuine positive testimonial, it doesn’t mean the client wasn’t charged excessive fees - it just means the client didn’t work what’s going on yet!
I’m driving to Craker Lake this afternoon 😎
Nice summary, crater lake is pretty amazing (and the hike down and back up is a bit of a climb!). You probably already know this but you can (probably) deduct your healthcare costs from your RUclips revenue (which makes healthcare sort of tax free).
Yep
Joe, great video! Congratulations on your 12-month RUclips cash flow- well earned and deserved based on the tremendous value you add to us in your videos. I would have guessed $40k which would have been a wild guess but close lol. Being in the wealth management business for 36 years I think a bigger problem is that such professionals are just too darn conservative (can anyone say Suzie Orman lol) out of typically sincere caring about securing their clients’ retirement - in fact I drank too much of my industry’s ultra conservative koolaid and if it weren’t for you I would likely be working several more years. I think your definition of “working in retirement” is so good that it is making me realize that working part time in my current role would NOT work for the negative reasons you mentioned re stress and lack of flexibility and this video made me decide to just retire completely on March 1, 2025 and then figure things out after that 6 month period of “saying no to everything” you recommend. As always thank you for the inspiration and fantastic, invaluable content!
Thanks Marty. Love your thoughtful insights and impact sharing.
Retiring as soon as everything is paid off. That is my motivator.
I’ve continued working even though I consider myself retired since 2015.
I was self employed, sold most of my business, and really just stopped hustling so hard. I haven’t had an actual job but I’m either doing things for the businesses that I still own or I’m helping people who call and ask if I can help them. I’m running a combine helping a friend harvest rice next Tuesday.
Working has allowed me to spend more than I probably would have otherwise but the real reason I work is because that’s all I have ever known. I have hobbies that I enjoy, I don’t have a schedule, and I won’t work if I don’t want to.
I am getting better about working less but I find that it has a sense of accomplishment and comfort. In addition, I find that Mrs Failure is never mad when I tell her that I’m going to be gone all day 😂
I love it
When I retire from my career, I’m going to take some months off to detox 😂 and get into financial coaching. I won’t ever do the kind of work where I’m not my own boss and something I’m passionate about. I’m looking forward to the day in less than 2 years!
Peter in the U.K. I'm what I call semi-retired and trying to build-up professional high-end car chauffeuring. So far I'm 4 months into it and finding my feet freelance chauffeuring. I love all things car related and don't feel this is a job as such - it motivates me because I love doing it. It's customer demand led and I'd like to do more of it to top-up my pension. My career was corporate based, long commutes and at times long hours - at just shy of 65 years of age I don't want that working lifestyle now and the motivation of that is lost on me due to my age and no career scope in corporate life any longer.
P.S. so valid your comment on some asset managers - my past asset manager kept saying you should continue working and not retire yet - I'm convinced he was motivated by fee income based on assets under management indeed!
I love it
Not having an alarm clock is basically reason number one for retiring. Early or otherwise.
Previously, I would have said working in retirement was a paradox, but I really like the way you defined it. I went to Crater Lake years ago and the ferry to Wizard Island was closed. Maybe worth a revisit?
Thought your revenue would be $50k, closer to your # of subscribers. But still, nice part time gig Joe. You’re good at relating to us retirees! I am fortunate to not have to work after retiring at 62, nonetheless, I think about doing something work-wise. Im determined not to as I know it takes time to adjust. Im 18 months in and getting more relaxed as time goes on. Love the travel and working out!
So, basically the pros and cons of working in retirement are the pros and cons of working and not actually being retired. You missed one big con if you are working in retirement and taking social security: potential reduction in social security.
Hope you enjoyed Crater Lake. Went up there in late October two years ago. Had the whole place to myself. Perfect weather. Also hit Redwood National Park along the NorCal coast on the way up and Lassen National Park on the way back. The $80 for a National Park pass is well worth it living here in the SF Bay Area as there are a dozen national park within a day's drive.
I recently semi-retired by cutting my days worked to 3/week (every Fri, Sat, Sun, what I wanted). I work remotely and hope to work this schedule for 2 years, then fully retire. My manager sends a monthly finalized schedule but doesn't seem to follow it. I have to closely monitor her daily assignment emails on my days off to ensure she doesn't give me an assignment. It's crazy-making. I can't relax because I don't want to get a phone call asking why I am not on the clock; because it is my day off! Geez. So, there's that.
Based on what’s in this video, I’m going to keep working my current job :-)
Yes, the revenue from YT is right in line w/ what I would have guessed. I base that on Josh saying that his YT income pays his mortgage. I would think it would be challenging to come up w/ fresh material that keeps people engaged.
Comments drive new content
I hope I won’t ever have to look for work to make ends meet in my old age 🤞
Thanks, Joe for another great video! Quick question... can you really call yourself retired if you are still working? I know you are producing great, educational videos and you do that when you want to on your own terms. If someone "retires" from their career and then goes to work 16-20 hours/week, are they actually retired? For me, when I stop working, I will be retired and only engage in hobbies, whether they produce money or just happiness and fulfillment. I appreciate everything you are doing, Joe, and I am so happy Alphabet / RUclips is paying you 2x your pension for your great content!! Keep up the great work! Joe from Texas, OUT!
The thing is this is my hobby. I love helping others with my stories and experiences. I do it for free all the time but RUclips pays me. Each video has 1 hours labor in it so 3-4 hours a week.
Seems like good revenue. How many hours per week would you say is spent on editing. Does that include phone counciling?
I never edit. Huge time saver. One take. Each video takes about one hr to create outline, video and upload. This is just RUclips rev
Some financial advisers will recommend a very low withdrawal rate and borrowing for major expenses. This approach also keeps more of your money under management.
That was higher than I thought it would be
Totally nailed; nothing to add here.😂
RUclips revenue totally surprising! Go take that big trip to Europe!
When we told our financial guy of our desire to retire early, five years prior, he was totally unenthused. We wore him down though. I think once he had his own mid-life crisis, he became more and more receptive to what we were talking about.
It's a great revenue ( $34,700) , especially this is fun for you and help to others. I'm going different route, trying to increase my passive income from divs from stocks and mostly ETFs with rule of 8% ( not 4%) - never sell my investments. So far around the same - passive dividends income 34K. Thank you.
I work about 7 hours a week for cash and the wife unit does 12-20 hours for pay and great insurance. 8 weeks of vacation for her. It is something to do. It does not get in the way.
I think AUM should be illegal IMO...
It's just not good for anyone, you don't work as a CPA for a company and just guarantee a portion of their income as a percentage because you do some finances... You get paid a salary based on what your work is worth... People can do like 1 hour of work for a client a year and automate everything and just do it for a hundred clients...
Can you talk about advantage of using annuity as a way to bridge the gap until taking social security at 70 if you retire at 59? My advice is recommending this
YT revenue is way higher than I would have guessed. I’m very impressed. So do all content creators with same number of subscribers earn roughly the same?
Some friends of mine are working hard to open a new brewery not too far from where I live. I hope to pour beer there some, mostly for the social aspects of it but it won't hurt to pick up a little spare cash. I will probably just do it on a fill-in basis, though, so it won't interfere with any other plans I want to make. At this point, at least, this is about as close as I want to get to having a 'job' in retirement...
It isn't all bad, but it will eat up your time. Make commitments sparingly and after much thought.
Congratulations 🎊 $$$$. The revenue will offset any IRMAA costs and Social Security taxes you will incur. 😊
It is impossible to work in retirement. If you're working you are not retired. Now if you're doing something that you would be still be doing without pay but someone doesn't realize this and is paying you anyways, then keep your mouth shut and enjoy your retirement. As soon as there are obligations or tasks you would rather not do then this is work and not retirement.
That was a pretty good chunk of money for RUclips, more than what I expected for a channel of your size, but as soon as you don't want to do it anymore, or it no longer gives you pleasure, please quit with our blessing.
Thanks. It’s still fun but I expect it to end someday
Joe, do you have an estimate of how many hours of “work” you put in to your YT videos in the last year?
3 hours a week. Roughly 1 hour per video
@joekuhnlovesretirement You have picked a good way to make videos, not too much editing time like some. Take care.
Did you figure out the pay rate per hour?
No. It’s rewarding so I don’t feel time passing
Did that large amount of youtube income change your Healthcare costs?
Thanks for sharing.
No. I’m not on ACA
Spot on, my guess 30/35k for 50k subs. Makes me wonder about some tubers w 1M subs, or more.
Subs isn't what matters: engagement and watch time matter. There are some channels with subs in the millions, but they don't consistently produce content or if they do, the views and watch time are low.
It’s all watch time and market sector. Subs is irrelevant. Financial topics pay top dollar vs say cat videos
Always a good talk Joe, happy for you on the RUclips income. It was more than I thought it would be because I listen to Duane on retireon500k and his is $1500 approx per month. Maybe you have more subscribers. Looking forward to hearing more from you.
Isn’t working in retirement an oxymoron? If your working you’re NOT RETIRED.
Yes, but we live in an oxymoronic world where you can define anything however you want to define it.
“Working in retirement” oxymoron
My husband and I were fortunate enough to be able to pay off our mortgage early. We were both still working, and took the payment amount that we had been using to pay off our mortgage faster and we put it straight into investments. We were able to retire early because of almost 7 years of putting away what would have been our mortgage payment as well as maxing out our 401K/403B plans. Thankfully we were taught by both of our parents the value of living within our means. Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Deborah Lynn Dilling is the licensed advisor I use.Just research the name. You'd find necessary details to work with to set up an appointment
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Hi Joe - another great video. As a viewer in the UK, it's not always easy to compare US figures to UK. Not least because we don't have to pay health costs (we have the NHS) and tax works differently. Also we rely much more on pensions. I was wondering, just as an example, if you got an annual income of, say, $70,000 - how much do you actually get? How much of this does healthcare, taxes etc. reduce the income? I appreciate comparing us is a bit like comparing apples to oranges, but it would be very interesting to hear your take on this. Hope you have a great vacation.
That's a good question, and I hope he sees and answers your question. Living in the USA, the answer can vary wildly from region to region. I hope I get a notification when he answers.
Healthcare for 2 about 1000$ a month after 65 yo and on Medicare. Taxes on 70k about 15% max.
Comments from a Brit living in California for 25 years. Income of $70k would get $29k exemption for married couple, then taxed at up to 12% federal and 4% state (in California). Average social security (state pension equivalent) is approx $1900/month. In retirement it’s quite possible to earn $100k without paying any taxes if you have the right mix of social security, investment income and post-tax investments (brokerage account). Lots of YT videos with examples. Pre-65 health insurance is one of the biggest cost differences vs UK, especially with dependent children (they can stay on parents’ insurance up to age 26). Even in a high cost state like California, taxes are much lower than UK, especially for higher income, eg $190k income would only be taxed at max of 31% combined federal and state where equivalent would be well into 45% top bracket in UK. There are many reasons I never moved back - meeting spouse here was easily #1, but higher income and lower taxes certainly helped build a much higher standard of living here for me and my family.