5 Things I Wish I Knew Before Retirement - My Early Retirement Regrets
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- Опубликовано: 4 июн 2024
- Today, I talk about my retirement journey and the five things I wish I knew before I retired. As someone who retired two years ago, I know the mistakes people make and can help you prepare for retirement.
If you are planning to retire then watch this video to know more about common retirement regrets and what you can do to avoid them.
I'll talk about common retirement mistakes and what you will face once you retire. Let's remember that it is okay to make big changes to your retirement plan and wanting to go back to work once you retire.
Check my other videos to know more about how to retire and join my daily FREE newsletter for some great retirement tips and more: www.morningdownload.com
#retirement #earlyretirement #retire #retirementmistakes #lifeafterretirement #retirementideas #happyretirement
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you people in western countries can be odd balls weird as you always make videos about things you wish you knew about anything before hand like thing i wish i knew before i went to italy as an example, imagine how boring life would be if you knew everything also the consequences of that if you know everythng before hand, why live life what is the purpose of life but to learn from it as you go along. such weird way of how to view the world.
I retired at 52. At the time, I was just burned out and had had it with my very high stress job. We bought a 42 foot sailboat and headed to the Bahamas the day after I retired. At the time half my friends and family thought we had lost our minds, and half wished they could go with us. And, I knew that decision was going to come with a pretty heft financial penalty. But, we had a wonderful two years of cruising on the boat and living our fantasy vacation. And, then a neurological conditioner my wife that had been a chronic problem, turned into an acute one and we weren't going anywhere again. Whatever reservations I had about retiring early are gone now. It was the right thing to do. At least for us. I've gone back to work part time, now, mainly out of boredom, but I learned the lesson that you better live life while you can. No one is promised anything tomorrow.
Thanks for sharing that. It's a good lesson for all us.
Money
Very true.
Great comment. I’m a brain cancer survivor. Been in remission for 3 years. I can retire in 4 years (early) and some people can’t comprehend why I would. I want to live life. I’ll look for a part time job that’s not stressful as my current career just to be active.
@ebonywinn50 , I hear you. I am a testicular and prostate cancer survivor, too. Something else that factored into the decision to retire early. Life is precious. Don't waste it.
The #1 reason I'm retiring early at 49 is to get out of the corporate machine. There is more to life than being stressed and depressed on a constant basis.
like what, for instance?
@@DrSchor Like literally anything else. Watching paint dry, eating a salad, etc. I love my free time more than anything. How about you?
@MidwestMoney I agree with you 100%. The corporate machine is real and so is corporate politics.
Very true.
exactly.
I don’t like being around people. So I should be all set for retirement 👍
I hear you!
Hahaha. Sooo True! Sucks for me.:(
@@Hhbdr Why do you think I'm here at my computer making videos instead of outside? :)
Retired early and never looked back. Best thing I ever did.
I’m getting rid of friends I don’t want to spend my retirement around. They’re drama queens who waste money then moan about how hard life is for them and how lucky I am.
I retired at 50 a little over a year ago. I’m a single dad and my son will finish high school next year. I love being able to provide for him making sure he eats well and get to spend more time with him before he’s off to college. I always have things to do. Maintenance on the house or vehicles. Run errands, chores and cook. I’m never bored.
nice to have the freedom. well done.
You are living life, 🙏. This is the whole purpose ✨️ of life.
You seem inefficient with time management. I do all of those things in one hour a day.
@@sammencia7945 not a neccesary comment,
@@ihihiabdelkrim6198 I'm surprised you know her too!!! The quickest way to make your first millions is to invest directly with an expert that is trustworthy and has made a name and individual billionaires..
Early retiree here. I love the fact that I have less of a social life now. It's fantastic.
haha. I can relate to that.
My spouse and I retired in 2009 and it has been the most enjoyable sightseeing in the world. I was a janitor so just not working is a blast.
Good for you! Where’s the best place you’ve been?
Gallopos Islands
@@H2R5GSXRThe Galagapos Islands off Ecuador? Did you read Voyage of the Beagle? I bet that trip was amazing.
The first 18 months after retirement I cried off and on. I really struggled with letting go of who I was. Once I moved to an over 55 community it solved many of the struggles regarding the social aspect. There are so many activities and amenities here that I’m never bored. Now, I love my life.
That’s great to hear
Where is your 55 community
@@janedelaney4327 Ocala
Maybe she is not real, AI advertising retirement communities, be careful! Sounds like a pre-paid advert
@@SculptExpress-gv8jp lol!
FORCED TO RETIRE DENTIST.
Made it to 63. So busy I forgot to tend to my own health care.
Working so hard to save money for retirement, so stressed so preoccupied with my professional carree .,always worring about my patients.
I became a dentist who could not see the forrest for the trees. Un aware that diabetes was destroying my eyesight .
The back of your eyes swell = macular edema, the front of your eyes gets covered over by cataracts .
All happens slowly over time with out even noticing the changes until...
Oh gee I can't see well, I must need new glasses I'm older my eyes must have changed as they have done since childhood
The eye doctor said, "No, you can't get new glasses because you must first go to a specialist to fix the diabetic problems , Now my retirement became going to all my different doctors just to stay alive.
Happy ending to the story , I'm now 72 and enjoying life fishing with stable health and 20/20 vision.
I'm so glad to hear your story has a happen ending. I hope you keep fishing for a long time.
MashAllah
Good for rich smug you.
I'm a dentist too, still wondering how to phase down without disappointing my loyal patients.
@@stephenlawson9854wth??
The key to being thrilled in retirement is having been miserable at work for 40 years.
Retirement hold’s little appeal if you love your life, enjoy your work already.
Yep
Nailed.
BAM! I'm not retiring yet even though I can get by. If I hated my job, I would leave today. Probably a good 30% of the people who retired, shouldn't have when they did. In fact, 37% say they should have waited. It's easy to hate your job when the bills are being paid. But when your Air Conditioner needs to be replaced, $15K can really set you back. A trip to Europe for 2? $12K if you're just doing average stuff.
I’m in my 40’s and retired in 2021. I have a small and fun social circle. I’m learning to play the harp, volunteering at a youth detention and travel every other month. I am ENJOYING being retired. Out of habit I still get up by 6am. I’m not bored at all. 🤷🏽♀️
Good job! You did it right.
I just turned 26 and I want to retired like you in my 40s.
Currently have about 120k in assets like checking account & stocks. How much do I need to fully retired at 40s?
@@DailyThingsInLife Congratulations! You're off to an incredible start. Watch this video about how much you need: ruclips.net/video/vhN6lmBMQXQ/видео.htmlsi=vkjD0ViJU9hdQ-50
@@DailyThingsInLife At least $1M but likely more.
@@DIVISIONINCISIONnot enough with inflation
I retired 7 years ago at age 62. I chose 62 because that was the earliest I could get Social Security. Don't be fooled into thinking that if you take the money at 62 you will get less money total. The reason you get less per month is because you will draw the money for more months. It's not magic, it's math. Since I retired I have never had one day, not even one minute of one day have I missed working. The truth of the matter is the only reason I went to work in the first place was because I needed money to live. Once I no longer needed the money, I stopped going to work. It's just that simple. Now I live a life where everyday is a vacation day. Everyday is a holiday. Everyday is a weekend. So if you like vacations, weekends and holidays better than working then retirement is for you. For those who fear they won't have enough money to retire, consider this. In the 7 years that I have been retired (and the 5 years that my wife has been retired) we have not touched a dime of our retirement savings. Being debt free before retiring is the key. It's not magic, it's just math.
Love the math. Thanks for sharing your experience.
@@Russsir Both?
Thank you for sharing , I’m ready to retire I’ll be 56 this year
@@Daisy-yi8om Congratulations!
@@Russsir I'm 69 years old and I want for nothing. Not one day of the 7 years that I have been retired have I thought about money. Think about this for a minute. Why do you think that Social Security offers that "incentive" to wait? Do you really think they have your best interest in mind and just love giving money away? That's not the reason. They know, what I know. They know enough people will die between 62 and 80 to make it worth thier while to offer that incentive. They know enough people will die before collecting one dime of their Social Security. It's just part of their game plan. They are not doing it to be generous to you. They have not reason to do that. Never, ever forget that more per month does not mean more total.
I can not wait to retire. The money will be difficult because of an expensive divorce and loss of my 401k and home but I’m trying to build it all back. I’m 52 and hope to retire in 10 years. Thanks for your stories.
You can do it!
Good on you.
Thank you!@@Morningdwnld
I just got a divorce in January and had to buy her out of our home since I kept the house. She kept her retirement accounts and I kept mine. My separated savings took a big hit in order to write her a substantial check. But the damage was minimum overall, so I'm still on track to retire between 62 - 64.
@@dtr579 That's why I'm not getting married. I can't imagine giving someone half of my net worth, money they didn't earn.
I’ve been practicing my upcoming retirement @55 by taking 4 of my 6 weeks off all together and I’m darn good at it. You can’t replace time with others. It can’t be bought.
Great idea. How long til you retire? I talked about that in this video. You may like it: ruclips.net/video/N9jNKSHe59g/видео.html
by. NOT buy.
edited thx@@traybern
I did the same thing many years ago at a job that offered a 2 month sabbatical every seven years. The first couple of weeks were a little weird getting used to a new sleep schedule (I worked nights) but after that, I found a groove, a daily routine that, like you said, "I got darn good at"! Going back to work was rough. When I retire I plan to NOT go back to work. I'll be "working" for me, my wife and keeping our home and vehicles in top shape. Work never truly ends, it just takes different shapes.
Surely the biggest benefit of retirement is that you can 100% choose the people,you spend time around: no staff, no work colleagues, no 💩bags.
For sure!
I just retired at 62.5 after a 37 year career. My background includes being trained as a therapist and I have always known that ultimately happiness revolves around finding meaning in life- people and pets to love; enjoyable activities; projects to challenge us; dwelling on how blessed we are if we are blessed to share it with people we love; being conscious of our legacy and consciously building it; enjoying our time to relax, but working hard on all that we are into and enjoying our accomplishments, etc. Enjoyed your video and good thoughts!
Thanks for sharing and I hope you have an amazing retirement! Sounds like you’re off to a great start.
I retired at 47, and in a jiffy, I am 75 now. I remember initially after 3 months of retirement, like the man says, I did miss my secretary, my office, and my “power”. Without my secretary, I have to type my letters and find stamps for the envelopes ! That’s kind of irritating 😅 However, when I started developing new hobbies like golfing and dancing, time really flies…….
Sounds like you adjusted well!
I am not missing being dismissed by my coworkers for my age and gender. Not one bit. My creativity has returned and I'm learning things now I had no time for before. I do not miss asting hours in communting. I do not miss being expected to work extra hours for free. I have never solely identified with my work, so these items you speak on don't apply for me. My work was not how I felt fulfilled. I now have the time to do those things and I'm grateful for that.
Good for you!
I'm at retirement age and still want to work in my field, but younger (really young) coworkers and constant technology are sources of horrible stress. Young people love to be on text and PC and shun actual interaction, humor and relationship building. Except with each other. I think that working independently is the way to go. I, too, have other things I'm interested in, although part of my work is with people.
I retired early about a year ago. I miss the friendships and seeing people at the office. I love early retirement and have no plans to return to work again.
If you miss those people why not contact them and go have lunch with them?
Great idea
For me, I wanted to retire because ot stress. I would have loved to cut back and work half time 40hrs a week instead of 60-80hrs but my company could not wrap their mind around that. As far a being bored, I was reminded how pre-retirement someone else is directing your life and how hard it is to learn to be your own boss. The best part of retirement is concentrating on my health - eating and excersicing - which were an after thought before.
I hope it’s working out for you.
@robevans2114 can I ask what industry and country you worked in? Saying going half time at 40hrs sounds crazy, that's a normal week for most people, as it should be. I've worked big hours in the past, but I now value my time over almost anything.
@@gerrym75 I worked in the computer industry where I never worked less that 60hr a week. If I had they would have laid me off.and found someone who would.
Retirement goal was 0 stress. Work, family, financial and relationship.
Achieved. 💯 ✅ ☮️ 😊
Great goal!
My dad is more stressed out as a retiree.
I’m 54 and financially easily able to retire. I just can’t take the leap. I’m afraid of being bored and having no reason for getting out of bed.
Reasonable. Good luck. Have some hobbies?
Change your mindset
Thanks for sharing these words of wisdom. Experience is the best teacher. As someone who is looking forward to retirement, I remind myself not to wish my life away. It's not all about the destination but rather enjoying the journey.
Well said!
Thanks for this retirement "Preview" - much appreciated.
Thanks for watching!
Thank you I needed those words. I am considering doing something different because I’m not feeling useful or productive and still with so much energy, missing the interaction with others in the daily grind.
Thanks for the comment. I'm glad it resonated. Good luck on your next adventure!
The why wait for retirement is my favorite part of planning for retirement. I am motivated to work towards things I enjoy now that I can do in retirement (side hustle).
Well said!
I think those who leave a leadership position have the hardest time in retirement. Going from a big fish in a little pond to a little fish is hard. They are no longer seen as the one to take orders from and they don’t get the respect they had when working behind the desk.
100%
I agree! I retired at 51 and have thoroughly enjoyed not working and no desire to ever work again. My job didn’t define me, it was a job that paid me good money and would have kicked me to the curb in a second if their fortunes changed. I turned me into my retirement project - lost weight, got fit, cook my own food 👍
@@FionaMacDonald I love how you put that - you are you're own retirement project. I hope it's going well.
Because they were never big fish, just sad lonely egomaniac s
@@FionaMacDonald I want to retire early for this reason, to lose weight.
I appreciate the wisdom and insight here. Thanks for taking the time to make this video!
Thanks for watching!
This is why people need activities outside of work!! Makes no sense to me when people get out of work and have nothing to do!
Amen. Although I didn't say I had nothing to do. I have a lot of hobbies. I just also like work.
I love your sincere delivery and enjoyed your take on these topics.
Thank you so much!
I don’t understand thing the thing he says about missing the e social life. I’m pretty sure he can still hang out with former coworkers on the weekend or when on the weekdays if they are on vacation.
Just discovered your channel, great content 👍
I appreciate that Clive!
What a thought provoking, well-made video. Made me reconsider life in general.
So glad you liked it! Thanks
This video was VERY helpful and I appreciate the honesty and forward thinking. Being a 50 year old I have thought about these things a great deal !!
Glad you liked it
I worked shift work for 28yrs, it was rotating 12 hr shifts, socialising was very difficult as we had 3 children, I needed sleep and so socialising was a very low priority. Management tried different tactics to increase productivity, but I didn’t notice them working any harder. When I finally retired I didn’t miss work at all, I didn’t miss other workers, I’m just focused on family and still do, I’m 68 and enjoy doing nothing basically as I feel worn out. 8:18 😊
Shift work it tough man. Way to go!
You are absolutely right the time is the most precious of any thing in life
Thank you
U mentioned my exact Plan! I retired July 4th at age 61 to begin my monthly Pension. I plan to return to work Late Fall Part-time. I will continue to recieve Pension and Healthcare resumes once I return to work? I may continue to work [r Retire again in late Spring? Maybe even go back to work or work PRN again later? We make about $200 p day.
I worked 3rd shift, felt tired all the time? I retired but plan to go back to work in late Fall Part-time? Maybe I won't be tired all the time if I only work a few,days a week? And I will recieve Full Healthcare so that will p
Spare me alot of expense?
It’s important to retire to something, not from something. And volunteering or part-time work is great in retirement.
true true
Very well said. I’m stealing that quote.
Thank you so much. Very helpful and insightful
Thanks for watching.
Such a thoughtful narrative thank you
Glad you enjoyed it!
Your channel is timely for my age, turning 65 next year. At the age of 60 I stopped working full time job. I’m still working 3 hours every day and do many things on my fee time . . . Life is beautiful 👍
Yes it is!
Doing charity work should be good for some people too.
Good information. Our retirement plans have been upended since our daughter has aggressive breast cancer and my 85yo mom is now living with us. We couldn’t have known how these issues would impact our future.
I'm sorry to hear that. Thanks for sharing your story so more people can think about the unknowns.
You and your spouse are doing the Lord's work taking care of your mom; I'm glad you have her. I hope for the best outcome for your daughter.
Thanks for the tips!😉👍
No problem 👍
More of these type of contents please, thanks! 🙏🏾
I'm on it!
Move to The Villages Florida and guaranteed you won’t be bored! There are like 225 clubs, counties recreational opportunities all for reasonable cost of living. Never get bored here!
You're living it up!
People complain about the winters in the North. I can't imagine central Florida in the summer. Hope you have access to a pool!
Don’t forget the condoms!
It takes all kinds of people, I can tell a relaxing chilled out existence is not your cup of tea and people like you need challenges. However people like me love the idea of the freedom to do as I please after the stress of having to be accountable to the company I used to work for. I am in your honeymoon phase but am loving it so far.
You're right. I hope you keep loving it!
My dad is more stressed out and he has become paranoid since he retired.
Thank you for the great information. I never thought about this. I was thinking justb was going to relax now. I picture myself, and it seems like it is not going to work the way I want to thank you again
I’m happy it gave you some things to think about.
Great video. Excellent points.
Glad you enjoyed it
Thanks for a thought provoking video, I do believe focusing on health will make it much better. Doing things you love now is so wise! I am working toward retirement but have just taken a job that is much less stressful so I will do a gradual slow down
Thanks for sharing. Good luck on your journey.
I spent most of my 20's being unemployed (my country has decent welfare system, which anyone can use), but even though I had all that time I didn't really know what to do with it. I jogged and lifted weights here and there, maybe played some video games, but as more time passed I just didn't do anything anymore, just laid on couch waiting to die basically. I work now and everything feels so much better, like free time, that friday wine and ordering Indian food just feels so good
That's an interesting perspective. What made you want to start working?
@@Morningdwnld I just didn't feel like I had any purpose. Obviously I couldn't afford to live in some nice house so I didn't have garden to work on or anything like that neither. I even felt jealous of janitors, I wanted to call myself something, I feel like your occupation gives you identity and purpose as a man. I'm an IT-guy now, I repair and sell computers at this small local business
@@SagisGaming It's so nice to see you turned it around. It's a good lesson for us all that work actually helps us more than just the paycheck.
@@Morningdwnld I feel like doing something you feel satisfied is much more important than money, I don't want to for example make some TikTok prank videos even though it could make a lot of money, because it's just not me
@@SagisGaming 100% agree
Great advices thanks for the effort much appreciated
My pleasure!
Than you so much for all these insights. I've never been able to understand the way many people conceive of retirement as a long little death.
Me either. It can be what you want.
Don't have problem #1. Have only 2 "friends" from work that we already do things with outside of work on a regular basis and that won't change. Work was never my identity. I enjoy my job but do not need it to fill my day. We love travel and have always taken our vacations to travel the world. We are the same in that we go off the beaten path. Stopped in a little pub on some outskirts of town in Scotland and they had live music. Once they heard us order, we had a hard time buying another drink, we did make sure we bought the last round as we were leaving since there is some tradition to "going round the table" Made some new friends that night. Also on a trip to Australia and New Zealand we ended up always running into the same couples at some of the local events and pubs. We now have a standing invitation to stay with them when we go there again and they with us if they ever get to the states. Send emails every now and then to keep in touch. It's a blast. So we are going to retire early to spend 3 to 4 months away from home. In between that we have aging parents we want to be with as they enter the no-go years. Have all our ducks in a row ( or at least in the same pond- lol ) with wills, trusts, estate planning. So we are ready to ride off into the sunset.
Nice job!
I want to travel to Scotland so I can experience a whiskey tour since I love whiskey. I’ll be satisfied if I ever get to travel to Scotland and Budapest.
I am retiring next month at 54. We've got some travel lined up over the next few months so that will be my honeymoon phase. I can't see the future but I know that I can adjust to the changes along the way.
Congratulations and good luck! Enjoy your travels.
The first time I retired I was 27 years old.
I’m in my 50’s now, and am back to work after a 23 month retirement/ break from the workforce.
When I take my final retirement, it’ll be because I’ve become so disabled that I can’t work. I’ll spend the last months/ years of my life writing my memoirs (if my mind is functioning well enough), and shuffle off this mortal coil having done what I wanted, when I wanted, how I wanted.
Good for you! That's great.
Good honest video, ty.
Thanks for watching!
I retired in January, at 56, in the honeymoon period at the moment, keeping active and the days are so busy lol. Looking at hobbies (RUclips) to bring in a little extra. Agree it is not retirement, it is financial independence. Great video and thanks.
Thanks for watching and sharing your experience.
Retired at 56 years after many years as an account manager. I worked all the time to hit my sales targets and bonuses.
I was an overachiever business (buthead) all of the sales team members on the same treadmill I'm just not that guy anymore.
I will never go back to the rat race. I'm golfing 2 or 3 days a week, walking my dog two long walks a day, shopping for the groceries and cooking nice meals. My wife has lots of holiday time in the bank (she is still working for now) we had 3 nice holidays last year and are planning more. I guess because I worked from my car and home office and only went in for meetings I did not have the attachment to staff friendships like some do? But I'm never going back as I say and hope I stay healthy for the next 20 years of freedom! My father worked till 65 and cancer made his retirement short, so I understand you can't buy more time.
Congratulations! So glad to hear it's going well. That's a lot of golf :)
Thank you for the good information
My pleasure
Brilliant advice beyond the ovious (financial) thanks 👏
Thanks Dave!
It honestly depends on what work you were doing before retirement. If it was stressful and exhausting and took over most of your thinking time, in work and outside, it’s a no brainier when you can afford to give it up. Staying at work longer than you need to, doesn’t guarantee an extension of your retirement in good health. You reach a balance where you will want a retired existence even if that means a much lower income fir a simpler life. Those who try to amass large wealth to live a long rockstar lifestyle in retirement are deluding themselves.
Yep. Agreed. You have to strike a balance. How are you you doing it?
@@Morningdwnld Buy a 50 year old House ! - it will keep you busy forever, but I enjoy it..
@@Wiltshire-observer I bet! You're probably pretty handy by now too.
Well said!
i am 70 in great shape. I still work for the fed gov and work from home. Don't plan on giving that up. I started a tech company 3 years ago. have 20 employees. Why retire just have fun.
Good for you!
Good for you! If you are looking for another employee or would consider expanding to Canada- let me know!
Good advice....As I get closer to retirement some of this a tad concerning but better to know from someone who has been there to help me plan!
What part is concerning?
After 15 years in DOC i missed the comradery most amongst other officers after i retired. Went from 100 with my head on swivel to nothing. very hard transition!
I bet!
This is a great vid with wonderful advice. I am 57 and I have been working from home for 8 years and i love it. What i learned from the pandemic is how to save and how precious life truly is! I am lookkng to retire, but the only thing that gives me pause is money and health insurance. I do not have any serious health issues, however I like being prepared. Of course as you age it is very important. Also having money to me means security and being able to do what i want. My hubby has been retired and he keeps telling me that I need a plan!! We are debt free so I want to go for it at the end of this year. Just need to plan how I will fill me days!
Thank you Margo. I'm happy to hear you learns some valuable skills from the pandemic and you'r on your way!
My best friend retired with 40m (yeah, million). He’s obese with smokin hot mail-order bride and bored so, he got busy making more money. He’s my example of what not to do. Enjoy your work, stay healthy, and never retire💪🏽
True
Nice video +1 subscriber from San Diego, CA
Awesome thank you!
I tried to retire at 39. I realize there was no one else to share that with except older people at the bar 😅. My friends were all still working. I went back to part time work and love it along with having free time for gardening and traveling when I want
That's a common story for early retirees. A large portion of whom go back to work. I'm happy to hear you're enjoying it.
How did you retire so early?
I tried retiring back in 2017. It was fun for a year or so, but I found that I was too young to stop working. I felt like I could still contribute to a team, and I missed the grind. We shouldn’t look at work as a bad thing. It is a journey that can be fulfilling. I started a brand new career at 51 with a company that allows people to work well into their 70’s. That’s exciting to me.
Agreed. That's great to hear you found something you like. Good luck!
Awesome! Miss the grind? Sound almost like a hamster running on a wheel that suddenly stops, ¡no bueno!😢😢 to what end is your product? Is your sole purpose is to produce? Is this life purpose? The truth is that most of us live a purposeless life. Take example: we spend time watching a baseball game, to what end? One person enjoys it while another sees it as baseless, useless. Repeat this with all our activities, to what end. A purposeless life we live!!
I think it takes the stress of work off if you "choose" to go to work. You have the knowledge that if it ever gets to be too much you can just quit. If you have no choice but to work, for some people even to 70, it is a completely different mindset.
@@TheDoglover1970 totally. F*** you money changes your attitude. I'm working on a video about that.
@@Morningdwnld
A friend of mine has that kind of money, yet recently started another company. He enjoys the challenge but also wants his kids to see him working (modeling behavior). He’ll probably retire for good after building this new business up and selling in a few years. He’ll still only be 55 or so…
The moment you leave a corporate workplace you're forgotten. You're just another drone, a number, that's all. Fully expendable and replaceable. For instance when I retire I know that a few days after I'm gone the question will arise...."sorry, Bob who?!
Unfortunately you’re right.
Thank you a lot of useful insides here
Glad it was helpful!
great video. I'm 44 and working to be prepared for retirement by 60. I really like how you rephrased "retirement" to be "financially independent"
I m 40 and hope to retire at 55 or at least cut to 2-3 days a week by then. Good luck to us 😅
Thank you
I know two groups of retirees; those who really do nothing, and the those who keep busy. I noticed the first group ages quickly, and the second continue to thrive. In fact, members of that second group find themselves busier than ever - usually on endeavors they find rewarding.
Same here and I think there may be some data supporting that. I'd be interesting to dig into that.
Couldn't agree more. I'm within a couple years of retirement and am looking forward to it. But, only because I have some pretty specific plans and goals in mind. I would never retire from work without a concrete plan.
Cheers!
J
@@JohnFisk-OHS-78 Sounds like a plan... good luck and take care!
Ive been fed up all my life 😂,being fed up in retirement is no problem ❤,
haha
Omg. I randomly stumbled across this video as we are also preparing to retire early. And lo and behold I see a familiar face. We went to grad school together and had a brief business engagement. Kudos to you T. So cool to see you again. 😊
That is awesome! Thanks for saying hello, even though you didn't say your name. Congrats on your impending early retirement.
@gdwnld Kelli MBATM! China! Invisible robots. :)
@@user-ys4xx9pi2x oh hey Kelli. It's good to hear from you! I've wondered what ever happened to you after you moved.
I agree with your idea to do things now such as travel pick up a hobby while you are younger ,but this could also affect your retirement plans and lead to doing less if those experiences are already checked off your retirement bucket list.
There are always more fun experiences and travel you can do. I don't see ever running out.
The transition to remote work and my role in a regional capacity, has lessened social interaction so I think i’d be good when i retire in 3 months, at 51 😊. The only concern now is the financial market situation and bleak economic outlook. Thanks for your content !
Thanks for watching and good luck on the next chapter!
Age 51 sounds too early to me. Do you like your job? Health insurance: How will you cover it? Normally at age 55-65 we are at the top of our income game, too. Suggestion: Lay out a detailed pro/con matrix (weigh each category and re-score each two months).
Retiring very early: In many ways, is like the Covid shut-down days. Others are shut-in (due to having to work).
@@CheckThisOut77 Thanks for the sanity check. I think am in between the FIRE age and normal retirement. My portfolio is at US$ standards , while my spend level is based on my region (Asia). Two kids have graduated from uni and have no mortgage now. So i think I can manage. 😀 Thank you !
@@CheckThisOut77 So as you said, giving up my stable income & perks (at the peak now) vs choosing flexibility, slower living, less stress, I think i’ll have to try. I can do active investing and real property flips on the side. We’ve done it during the pandemic.
@e: Good job. Having a side hustle (or whatever kids call it these days :P can give you peace of mind for income, keep you busy, and keep you learning!
I retired last year at 53 luckily as i was self employed i picked the times i worked. Therefore i haven't struggled to much as i went to the gym in the mornings and have a good social group i go walking or biking afternoons. You need structure definitely otherwise you may slip into bad habits. Its difficult in the winter, plus plans can change definitely financially dividends can stop mortgage rates increase. So be careful thinking its all planned out it can soon change
True. Mike Tyson was right.
It was good to get your advice a decade ago.
Me too!
We retired aged 60 that was 6 years ago since then we’ve learnt to play Saxophone he plays Tenor andI play Alto and Bari. We joined a band of 29 Sax players-it’s just one of our new hobbies….
That’s cool
I'm looking forward to regaining my identity... I feel like the corporate world beats the identity out of you over time. I'm working toward my retirement project so that I'm not going cold turkey, will just work part time for myself for a bit.
For sure. Good idea to have your own project. What is it?
I am 45 and seriously considering quitting from my job because it takes majority of my time. I really want to explore the world and don't want to sit at home at 60 with a large amount of money
Good luck. It take planning but you can do it.
Same here... I'm 40, and I just quit from the toxic workplace. I think life is too short being in a toxic cycle 😂 my mental health matters more
Why would you sit at home at 60 if you have a lot of money? You still have gazillions years
I’m 46 right now. I’m thinking about retiring when I turn 60 since I have an IRA.
I See the great thing about financial independence is practicing getting self esteem from other things than always being around people. There’s a world inside you.
so true
He is spot on when he says, "Don't wait to do things when you retire, i.e. travel, etc. Do it now!
Thank you. Sounds like you speak from experience.
Everyone that I have known that has retired early has regretted it. I'm going to learn from their mistakes and work until I am 67. I'm using that as my target age, so I may work less or more depending on health and finances. I think the most important thing is finding a career that you enjoy. I enjoy what I do and can see myself still doing it into my 60s and even beyond if necessary. I have a client who could have retired long ago (from a financial perspective), however, he's in his 70s doesn't want to stop working.
Me too! Seems pretty common. It’s great when you find something you like. Congratulations
I love my job but can’t wait to retire in 9 years and 9 months 😊😊😊
A customer of mine said he retired and plopped in front of a tee vee and about lost his mind, was mired in depression. Went back to working, happy as a clam.
Yes, sounds like they didn’t have a plan for their retirement “time”.
I'm just thinking out loud here, but I wonder if people who need to be directed are the ones who go "crazy" with too much free time and literally do not know what to do with it? 🤔
So many people, especially men, have very limited lives. They get up, go to work, come home, eat dinner, watch TV, go to bed, and do it all over again. If your life revolves around your job you may struggle in retirement.32
Yes, as I said, it's important to have hobbies and not have your work be your identity.
Excellent advice sir
Thanks and welcome
Thanks this is best Retired video what I seen !
Retired 4 You.
I appreciate that.
@@Morningdwnld Thank You & all The Best to You ! From Helsinki
I look forward to gardening
That sounds fun and a lot of work.
Gardening IS a great hobby. I do not grow vegetables; just flowers and similar plants. Once you get things planted, there is very little work to do. I concentrated last year on attracting hummingbirds…and they came!
Your first job should be to water those plants.
haha. I know! Actually they're fake and I need a knew background. My mom even called me and said they have to go.
What?! They sell fake plants that look like they’re dying??@@Morningdwnld
Very important tips 🙏
Thanks a lot
This has given me a lot to think about. I’m 58 and have just started thinking about when I should retire. So far my focus has primarily been on the financial side of things, but your video has me thinking more about other considerations. Though I’m single with no dependents I’ve still never been bored, and I generally prefer solitude, but do wonder whether that would change in retirement.
I'm happy it gave you some things to think about. If you're not sure you'll like retirement, watch this video about retirement alternatives: ruclips.net/video/N9jNKSHe59g/видео.htmlsi=9y9On2NKUtRH9ap9
You look really young 😂😂😂 I'm 40, and I was so done with my toxic micromanager and i decided to go for early retirement for good!
Nice job! How’s it going so far?
Thanks. I turn 50 at end of the year.
You're the only person to mention the existence of a honeymoon phase. Thanks! I can retire but I work for a think tank. We are having an open house and expect 18K visitors. I think I will work a while longer. And now I work from home. Work also gets real easy after it becomes optional.
Thank you for that. I wonder if only people who have been through it really think about the honeymoon phase. Congratulations on being able to retire and for sure works gets better when you don't have to be there.
It's very sad if you miss work when you retire or get bored. You haven't thought life through. You have created a situation of your job is your life. If you don't have a social life, no hobbies, no interests, well, good luck when you retire. I am nearing retiring in the next few years and I like my job and the people I work with. Will I miss it all? No. I will be in control of my life, if health permits, not by the clock. Great post. Keep up the good work 🙂
Thanks sir. Congratulations on your upcoming retirement.
I don’t look at my job as being part of my identity.
Very good video!
Thank you very much!
Biggest problem I’ve seen is people retiring and don’t have any hobbies or interests to pass the time. That leads to problems with depression and down a bad path.
Sure does!
That’s similar to some people winning the lotto too.
Thank you for posting a really thoughtful and interesting video. Many of the issues you raise apply to retirees all over the world and resonates with my own recent retirement experience. Apparently the human body has evolved to give us a maximum of 50 years of good, healthy life, and after that you're on your own! Best wish from Scotland!
Thank you for the encouragement and feedback! Someday I hope to visit your lovely country.
There is a lot of anxiety linked to the question of how to live when retired, it is just another type of resisting change and venturing things. Still struggling and waiting for an inspiration :-) thanks for your thoughts
Thanks for watching.
I retired at 61. I had had it, I left work and never looked back. Have a great life in NE Oh. It was the best thing I ever did 🏖️
That is awesome!
I took and early retirement 4 years ago at 60, after a long, stressful career ending with executive management. The plan was to go back work doing something I actually enjoy (no matter the pay) after a "gap year" , and then the pandemic hit hard in my area; it really upset my extensive plans and I'm still making a mental adjustment. Money is not an issue, but Trajan is so right about having something to do. I let my gardener go (a "mandatory" luxury in my area) so I do my own exterior lawn and garden work. It's good exercise, which is important for me since I now avoid my public gym, but I miss the daily socialization of that. Looking for other alternative forms developing a social network.
Thanks for sharing your experience. Gardening work is tough, so good for you. My in-laws invite people over to garden to make it more of a social event.
@@Morningdwnld Smart people.
I’ll probably do some other hobbies like doing jigsaw puzzles when I retire even I haven’t done that hobby since i was a kid.
@@legendaryTMNICO I've become addicted to the Monopoly app playing robots for that mental workout. Although it seems rigged, LOL.
Speak for yourself. I worked in a hell hole for 37 years and after retiring, miss nothing about my former job. No regrets.
That’s great!
I was in a similar situation. I retired a year ago!
I was so glad to be able to retire. I made it 39 years and that was about 3 years too long! I’ve never looked back!
Amen
I'm never retiring. I'm going to keep working my hard labor job until I'm literally dead.
WHY DID YOU CHOOSE TO WORK IN A "HELLHOLE" FOR 35 YEARS?!?
Who made that bad decision?
You did. Why?
I remembered what an old cocker I befriended used to tell me , Son these roosters made me get up every morning and look forward to a nice day. He just passed on a couple of years back at 96 I'm getting me some roosters. :)
That's awesome