5 Reasons To Retire As Soon As You Can | Wes Moss | Money Matters
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- Опубликовано: 1 авг 2024
- Some people live to work; others work to live.
I’ve never believed that cliché line. While it may apply to a relatively small number of folks at either end of the spectrum, I think most of us fall somewhere in between when it comes to our attitudes towards work. True, we head to the office or job site every day to support ourselves financially. But our jobs ideally give us much more than a paycheck. The work we do gives us a sense of satisfaction and happiness, and, in some ways, defines us.
If work is feeling like a grind, ask yourself the following questions. The answers might help you decide whether it’s time to seriously consider turning in your key and pass card.
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Please note, this information is provided to you as a resource for informational purposes only and should not be viewed as investment advice or recommendations. Investing involves risk, including the possible loss of principal. There is no guarantee offered that investment return, yield, or performance will be achieved. There will be periods of performance fluctuations, including periods of negative returns. Past performance is not indicative of future results when considering any investment vehicle. This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. This information is not intended to, and should not, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary abilities and knowledge to complete such occupations do so successfully.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
'Vivian Barbara Mui, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Vey accurate from your POV, It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your goals
I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence 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.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
Thanks a lot for this recommendation. I just looked her website up, and I have sent her an email. I hope she gets back to me soon.
Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation........
Retired at 55, lost 70 lbs, got off my meds, and got my life back
That's awesome! Congratulations!
christopher hennessey thank you, I wanted to spend my 401k, not my kids, lol
Wes Moss Money Matters thank you, it was time to get my life back!
@@Reitz86 Reitz, help! See my comment.
Travel, go to places you never thought you would go.
I was happier when I was 15 yrs and had 5 dollars in my pocket than when I was an adult and had many thousands in my account. I retired last year at 51, I'm not rich, but I spend most of my time renovating an old house and walking the beach with my fishing rod. I have a 1 day/week side hustle just to keep from spending my nest egg, which is still growing. I'm not the most wealthy guy on my block, but it's a safe bet that I'm the happiest.
That's awesome, Anthony!
Anthony Babowicz What you wrote is so true in my life as well. I’m 53 and would like to early retire next summer and hope to pass you on the beach with my fishing pole. My only worry is healthcare.
Me too!
I understand. All of sudden, I was married, and had to buy a lawn mower...
You nailed it👍, pleasure in living❤️
I spent the last 10 years in a toxic work environment. 6 figure income at a job I hated and a boss who showed no dedication to anyone. I moved the company from 40 mil to 100 mil a year and was rewarded with someone being hired from outside and put in a position over me.
After 6 months being retired I’m a new man. No stress and healthy again. Can’t believe I stayed that long and put myself through all that.
Don’t let money control you and be yourself and be happy.
God is great just let him lead you.
I agree.I’m not rich,but I have my pension and Social Security benefits I am receiving.Happy to have retired when I did.
Tide Fan So good to hear your story. Live the dream!
Amen to that. almost my situation at the office. thanks for sharing.
Needed to hear this. Thank you for sharing!
Same here. Thank you. I’m retiring soon. Can’t wait !
SO MANY OF MY COWORKERS DIED BEFORE GETTING THE CHANCE TO ENJOY THEIR HARD EARNED RETIREMENT AND SOME DIED A LITTLE AFTER RETIRING.....LIFE IS SO SHORT!
I hate to hear this, but it's true!
Same here at my work at the usps ...
That's why its better to take social security at 62 and work part time. Its kind of the best of both worlds and less stress.
erin peacexo That is my plan too!👍🏻
+Angela Lewis
I knew a fellow who retired after 30 years, and died of a heart attack a few hours after receiving his first pension check. Sadly, he hadn't yet had time to deposit it into his checking account.
I retired at 63 with very little saved up. Good stewardship and good luck has grown it to about 750K. I told my money guy, “I don’t know if I’m retiring for good, but I’m retiring for now.” Haven’t looked back.
How have you handled health insurance ??
@@ramonfred Medicaid
@@schukerD Alright thanks
What type of money guy do you use ? ( I am new to this situation )
@@francescadelight I started out with Klaus Cassius. A while ago, my guy there went out on his own. I got very lucky, & consider him a good friend, but interview several, make sure the one you settle on is a fiduciary and not a glorified salesman. Have a list of specific questions to be answered.
Most of the people that come to visit work after retirement look 10 years younger and 100Xs happier. It's amazing.
I retired at 61. I have a pension, I'm taking Social Security at 62, I don't have any debt. My work was bad for my health. My boss was harping on me constantly/ We had a major project that I was to be a key player, but my boss took a pretty minor issue and cut my pay by $20k per year. I turned in retirement papers that afternoon. They needed me and HR called to offer me my old pay rate back and transfer me to a different division, but I felt like every day at work was taking a week off my life. I told them I was sorry, but my decision has been made. The project fell to my boss. It failed miserably. And I have been enjoying every day since.
KCFlyer2 You are luckier than most. My boss is a bully but I’m only 56. No pension to speak of and no way to change jobs. Savings = mortgage liability. No way out.
👍👍👍👍😁😁😁
Nice
...gets to a point where your no longer interested in the job at hand...then retire ...when you have been there the longest you talk about how things were...the boss dose it his way now tho...time to retire...get your pension while it is still there nothing lasts forever...ya did good now bow out....
Good on you brother. It must have been a huge weight off your shoulders. Some employers can't see what they have until it's gone. I'm 54. Almost at the end of my rope. It's not because I don't like it, it's because I've just had enough of the grind and the stress of working my ass off then watching as the government squanders my tax dollars. I'm somewhat like you looking after projects. The difference is my employer is grateful and offers a bonus every year. I've been saving for retirement from the time I was 18 and have amassed a considerable amount of savings. I'd like to retire tomorrow, but still have 2 kids at home. One in the last year of high school and the other in post secondary. Until they move on with their lives, mine is somewhat on hold.
Retired at 56. Eating healthy, sleeping great. No regrets.
Love to hear this!
I’m retiring now at 64, 5 months before my 65th birthday. My brother died one month after turning 65, my best friend died at 58 one year after retiring form his 30 years as a metallurgical inspector at a steel mill. Most of my friends from high school have passed on. Why the f -x-x should I work any longer in a place where i would work any day of the week and have 4 different shifts within the same week, even be scheduled for up to 11 days straight without a day off, be abused by customers daily, am legally blind but do have enough usable vision to get by with. No mortgage, no debt. I’ve had enough, retirement time for me! Cheers 🍻🥂👍🇨🇦
Co
Correct
I got out of full time engineering at age 55 four years ago. I chose to call it career pivot now I work part time in a job that is fun. Every time I drive by my old place I say. " Yep still don't miss you"
#1 reason people can’t retire early is cost of health insurance!
Not to mention it is impossible to budget for using it because not even the health facility or insurance company can tell you what anything costs until after you have a procedure done...
Obamacare costs around 300 per month
We're considering leaving America for this reason. We're willing slaves.
Health Care is definitely my worry
I watched too many friends die early or have sudden physical issues arise that prevented them from experiencing things they had talked about doing for many years before. We are all on a degradation path and you will only be slightly worse tomorrow than today. So don’t ignore that slow process thinking that you will have the same level of health and physical capabilities you do today in another 5-10 years.
Once you can afford it, don’t jog but sprint out that work exit door and do all the things your heart desired to do before it’s too late!
i think a boat well mainatined with alot of fish around, cuts this 500,000
and 10,000s of hours of work in the last 10 years. to something 1/4 of that.
maybe even less.
Ms GALIA BENARTZI has opened my eyes so much and I'm 39. Started investing few months ago. I've put in total of $35k and I've up to $70K now. Pretty happy about THAT.
oh my gosh I saw that recommendation last week but I didn't bother chatting her up 🤦🤦
😮 that lady, her success stories are everywhere. Been seeing a lot of comments about her on several places. I feel more confident investing with her, I've been on the train for over two months now.
She's good and guaranteed, with her you get to see forex Trade from another angle... Working with her is all about win win win
If you've not worked with Galia Benartzi?
Try now⬇️
☬෴十𝟏𝟑𝟓𝟏𝟗𝟎𝟎𝟒𝟔𝟒𝟗෴☬༒꧂
No to every question....YET, I retired early anyway. Best choice I was ever given.
That's awesome!
As an additional reason for folks to consider, even if you're good with your work, coworkers, and management: You can't stand being "on a schedule" any more. So even though none of Wes' five reasons apply to me - since I work at home and enjoy my job - this growing dislike of living on a schedule is a truly valid reason for considering retirement.
I’m with you. I’ve got a great job and I’m making more money than ever and love the people I work with. It’s hard to walk away from it but I have so many hobbies I want to pursue and things I want to do rather than my job. I saved a sizable nest egg and now it’s time to move on with my life and live that next phase with freedom. I don’t think anybody on their deathbed ever wished that they had worked longer.
Only women and sissies 'work from home'
I loved my career choice and would have worked until I dropped. But, my career had physical requirements and I saw my abilities begin to deteriorate. So for me it was time to step away.
Low 5 figure savings, no 401, small pension check and SS. 6 years later I'm happy and healthy as a clam at 68. Monthly expenses except food but including rent run around 30% of my SS benefit. I travel frequently and spend most spring, summer and fall months riding a Harley around the continent. Did I mention I retired to Europe?
Amazing!
If being a millionaire retiree is your future forte, then keep a close eye on the stock market stakes and ensure that you invest in the right stocks that suit you.
It’s easy to double few dollars in the stock market
Investing in the stock market is the best option to make a passive income.
Virtually all the markets are crazy, most people pay more attention to the shiniest position on the graph, I’m keeping a diversified portfolio.
How possible is it to earn a thousand dollar per month on the stock market?
@@jackholley4286 You can surely earn $1000 per month by trading stock market, provided you have in depth knowledge of trading strategy like technical analysis, chart patterns, support and resistance, trendlines, risk management
@@DavidMiller-du9dy most stocks in my portfolio are underperforming and there’s too much volatility with key stocks. Which stocks would you recommend I buy?
after working 25 years , saving every penny you can AND answering yes to the questions every day then you can finally retire. You have to be bad ass to make it in this world
Loved the work and people hated the job (company). Asked myself was this worth it and said no, put in my retirement notice the next morning. That was a year and a half ago and the only regret I have is having not done it earlier.
I think the proper question is what do I do before I retire. Retirement is another faze of life on its own. Lay the proper foundation trust me savings will only get you so far. Invest invest invest. I've been making Soo much from my stocks and FX investments. Kudos Noud.
My father used his right hand to advise me on investments and used his left hand to gamble. But luckily I picked the idea to invest in college, Elon has played a huge role in my intentions to invest. So please do tell. How have you been gaining from wall street. What's your money making strategy?
When I tell people I profit with ease they get surprised on how I manage my stock portfolio and accounts, they think tirelessly at it. Truth is I leave the numbers and all my trade affairs to Licensed pro analyst Mr Noud mika. I’m 40 and currently have a $1.1million portfolio and my goal is to keep making money I have Mr Noud Mika a FINRA regulated trader handle my trades and investments with his guidance and forecasting I invested in Options,Bonds and High growth stocks and so far I've gotten a 20% increase but hopefully I’ll get to $2million sooner.Diversification of trades is also very important to me and that's why I have Noud trade for me with $7k in dividends yielding me $17k - $20k
You make it sound easy, coming across licensed pros like this isn't easy. They keep themselves for the elite rich folks. But of yours is available to help ordinary people like us I'd appreciate the help In my trades. Is he free to new investors? How could I reach him?
Noud's usually busy for days but his always available to investors that are consistent with a winning mentality. He'll response to your mail
His mail is
@
I knew so many people who worked for decades and then retired only to have major health problems like cancer. Later, they then died. It was so sad.
I'm 65 answered no to all 5 questions. The money is too good and the job is too easy. I'm staying.
I love to hear that! If you're happy working there's no reason to retire.
Timothy Cunningham good for you. You are the exception, not the rule.
There's more to life than work! Retired 10 years and loving it! Am not rich!
If Monday morning feels the same as Friday evening, you’re doing the right thing continuing work.
Lucky you to have an easy job!
Was talking with my cousin a while back after he been retired about a year. I asked him how retirement was going and what he was up to. He said he became a magician. A magician? He said "yeah, I retired and I made all my friends disappear! One by one they all moved away for different reasons." He didn't realize how much of his social life revolved around work and his coworkers. He is now working part time just to stay busy and get out and meet people. Some people just need that.
The Only down side
of retiring earlier. Is that you Don’t have many friends or people of your own age. To play with.
Who you can phone & say do you Fancy a sea fishing trip in Say Florida or Let’s do a week in Scottsdale Arizona at meccum. Car auction .
There are Not that many people of your age. ( iam 56 Worked Constant in Construction )
Never bought things that never served a purpose or wasted Money .
Live within your means !, All the best Jim the brick. Xx
IF you are going to retire early, have something else lined up to do. Whether it be volunteering somewhere, several hobbies, or extensive traveling. Most people need a purpose in life to be happy. My father made the mistake of retiring at 55. He was miserable--lost lots of weight (not healthy weight loss) and I think would have died except for the fact that his old job still hadn't been filled one year later, and he took it back and worked there another 10 years. His mistake: His entire life revolved around his job--then he retired. He had no plan with how he was going to spend his days after retirement. You have to do something after retirement. Continue to grow.
That what happens to people when working and nothing else is their life.
We dont really know for sure if we will be alive tomorrow. Retired for 1 year at age 43. London. Hawaii. Catalina.
I agree. The universe is billions of years old, people only get less than 100 years and only a few high quality decades at most. No time to waste.
I am so lucky retired at 55 and moved to Cebu Philippines......I had a good federal job and could have continued to work, but life is short....sometimes you have to make moves to improve your life.....I give myself some credit due to the fact that I have 3 pensions.....but also got a lot of breaks along the way....
Paid everything off then I retired at 56. Loving every minute, now I'm 60.
Love to hear this Binks!
Ditto due to health reasons. Been five years. Don't miss the politics n crap, occasionally miss the social interaction.
@@t-bone6467 I run into alot of nice people during the day doing errands and grabbing coffee .I keep in touch with friends, text, calls and meeting for a bite.
@@unalienable5408 hi. I retired to a rural area and it's been a slow go getting social activities ramped up. Like you, definitely get out and run errands, stay connected to old friends etc. Big adjustment from the working life.
I am so lucky retired at 55 and moved to Cebu Philippines......I had a good federal job and could have continued to work, but life is short....sometimes you have to make moves to improve your life.....I give myself some credit due to the fact that I have 3 pensions.....but also got a lot of breaks along the way....
Glad I retired when I did @ 55. Am enjoying my pension and now collecting Social Security benefits at 62. 0 credit card debt,mortgage paid off this year. Took me a few years but I became healthy again. Four former coworkers have died over the last few years,didn’t even get to retire and enjoy their pension.
There is life after employment. It's time to seize it!
Retired 10 years, but the flash memory of obnoxious coworkers & yes man managers dampens my day.
No 500k here, but house paid for, some investments, and we both work part time as 72. Enjoying our lives
Love to hear this Joyce!
I am financially set to retire. I am burned out and work is now exhausting. At 59 years old, it is now my time to retire and enjoy the fruits of my labor. Your videos have helped me feel so much more positive about this big life change. Thanks.
Most people are living 9O +5y- now and so retiring too early can lead to poverty without a family or friends to fall back on.
@@markymark7198
Sorry to disagree with you..
A very small percentage of people get to the 90's and beyond...And if you are one of the lucky ones...Life sucks by then ( tipically ) you can't eat this, you can't drink that, mostly no sex, waiting for someone to change your diaper....And so on.
No, thank you
See many of coworkers dead before enjoying retirement, house paid off, good saving money, no dependents, etc.
Enjoy live while you can.
My 2 cents
Respectfully
I retired 70yrs old, build up my S.S.A and pension. Plus my grand live in my house with me. Praises The Lord 🤗
Wowwww...I’m trying to determine if I want to work til 62 for the “ultimate” pension! God bless you!
I retired at 50 and made some huge cuts in spending .I got rid of the car also and walk and get around other ways and am healthier than I ever was .My father kept working even after a heart attack at 69 and he continued until 77 when he got ill and died .
Mikeykaysuper congratulations! You did the right thing and had a plan. Most people are clueless, in debt up to their eyeballs, and will likely find themselves broke if they ever reach retirement.
I semi retired at 49 but kept a part of my business going as a hobby so as not to get bored. Live a very simple life compared to my wealthy working friends ( no flash cars, holidays, expensive restaurants) but when you disengage from the rat race you find status, possessions etc mean very little.
It sounds like you're what I like to call, "Master of the Middle!" I wrote about this here - www.wesmoss.com/news/the-secret-to-living-a-happy-retirement/.
Congratulations on your super early retirement!
The government isn't paying the retired workers enough due to the present situation in the economy... Bitcoin investors are making huge profit now bitcoin has raised to 55k today. 2021 is gonna be a great year for investors.
I'm a retired nurse for months now and I'm yet to figure out a plan while staying at home, talking about bitcoin I think that should be a great idea.
@@jamescharlotte9821 yes you're right 80% of millionaire's are bitcoin investors, Bitcoin has helped alot of people
I love to invest in bitcoin and other crypto currencies but it's difficult to understand the market.
@@heresy9835 as a beginner I will advise you to work with Susan Ann Kira, for good and huge withdrawals.
@@whatsapp-526 which of the Susan? Is it the one from the financial channel?
I retired at 56 after a long policing career .. lucky to have a descent pension and thank god I’m from Canada so no health care issues .. made sure to have paid off my house so I have no debt .. also plan on taking my CPP which is my Canada pension early at age 60 .. remember you can’t buy your health or time
In Canada you do pay Healthcare, it comes out of your taxes
@@youtuber6185 that is true but it won’t bankrupt you if you become seriously ill
@@garthtrain4719 if you don’t have assets they just discard the bill. If you do have assets your insurance covers it. I agree it’s not perfect but my point is still valid about taxes paying for it
It would have to be free to live in CANADA
Every US based retirement video will at some point mention the cost of health care. Shocking to all non Americans 😞
I work 24 hrs (two 12 hour night shifts ) at my long time job as a nurse. Am turning 64 this year, and still enjoy my work. Will try to work as long as possible, because it is very meaningful work, I still get good health insurance and I have a lot of time off.
That’s very admirable.
Many people keep working in order to maintain health insurance. Ironically, many people require the health coverage due to maladies caused by their jobs (I.e. high blood pressure, stress, obesity, depression, sleep apnea, and other sundry issues). Many people get much healthier after leaving the life- sucking jobs they worked so they could have health insurance.
It's really the only reason I'm staying. Until Medicare. May continue to work some after that but I really won't have a reason to. Sad state of the US. Healthcare coverage and jobs being tied together. That's the only way to get decent premiums.
This! Im retiring soon at the first moment I can take my healthcare into retirement.
Yes to all 5. Thank you.
Thank you. I answered yes to all of the questions. I have a 1 hour + commute, bad parking, and a lot of money saved in my retirement accounts. The psychological thing I have to get over is making a lot of money from a great salary, but a lot of unhappiness. But I have a lot saved up and a bunch of rental properties. You made my decision easier. I'm 57 and have 7 rental properties everything but my car paid off.
I have decided that I want to have time to spend with my husband, while we both can enjoy doing things before we are too old. I understand not being able to let go of the financial safety net. I am retiring next spring on my 60th birthday and can’t wait, now the I have made the decision. Good luck to you with whatever you decide to do.
Congrats! Can I ask you how you came to getting those rental properties? I’m interested in doing this. My plan is to buy one at a time (less expensive homes that need fixing) and getting them in shape to have renters. Then going to the next one. Do you have any advice or insight? Thx!!
@@vinnyvidivici5930 I made double payments on a 15 year mortgage and paid off the house in 5 years. We paid for the others mostly cheaper condos with what would be the mortgage payment and rent money. My wife and I also had side hustles mine being a keyboard player. My update is I retired 1 year ago Memorial Day and I’m the happiest I’ve ever been. I gig full time about 5 times a week in Myrtle Beach. There’s much less traffic and I walk the beach or bike every day. I can also see the ocean from my balcony where we eat breakfast. There are still oceanfront/ocean view condos from the mid 100k’s (around the north end where it’s also relatively safer).
The worst day retired is better than the best day at work.
Not always. Many people love their jobs and would have no purpose in retirement. Some do great in retirement because they have things they want to do and have a purpose for getting up in the morning, but many retire and are just waiting to die from boredom
No one remembers you for much u made (except for the extreme), they remember you for the personal interactions. Don’t be afraid to die.....be afraid to not live.
@@nala3038 I make the most of every day, and have lived more than a full life, but I always need a purpose for the day. I have a condo in Mexico & will be there next week but I"m not the type to sit on a beach all day
HamiltonRb good for you
@@nala3038 best comment I've heard in while.
Got screwed over several times even though I was a hard worker always dependable and competent. Decided to adjust my life to my limited income vs. trying to build up a pile of money. Instead of stopping work altogether at 53 I began working part time.
I worked for a hospital for 28 and it was a great place to work. Then 2 years they turned corporate and cut my hours drastically. Try to live on$120 a paycheck in Hawaii They had no concern for my time or financial stress. Also, I had my situation. The administration payed off many people. I retired early at 62. Cashed out my pension and 401k sold my apartment in Honolulu. Then joined my family in Thailand. The cost of living is a fraction here. Impossible to retire in Hawaii
christopher hennessey what is really awful for the MICU, the nurse are so smart and we are consistently under staffed. They worked so much harder and unbelievable stress. Also 3/4 of their time is spent on charting on the computer. This is not healthy and dangerous for the patients.
Retired at 58, travel the world and spending more than I deserve.
I refuse to work another "9 to 5" job again. In 2010, the office where I worked was closed because the lease expired. EIGHT MONTHS LATER, I was placed on probation for something that happened AFTER MY OFFICE HAD CLOSED! Now I'm trying to get my EMT certification up to date, for me. I'm also working on finding a suitable niche for this channel.
Thoughtful, practical, and logical information ideas and advice! Most large employers don't really value their workers just how it is! Who wants to work themselves to death and when it's time to retire their bodies are breaking down. Thank you sir for your caring attitude!
Retired at 48, living the dream
I worked for 54 years and really hated it, 17 careers at 20 different companies. Most I ever earned in an hour was, $14.25. Most I ever earned in a year, $53,000 +/_ take home was $49,000 +/_ I worked as many as 28 hours straight and that will wreck your brain. Retirement was the best decision I ever made. I do whatever I want and now I'm writing a book and recording my music. Tried to start a business 6 times and failed, 6 times. People will offer you the moon, just to get your money and shit all over you, when they get it.
How does $14.25/hr translate to $53k? That’s like 3,700 hours in a year.
@@skillfuldabest It's possible to make $53k @$14.25/hr with overtime pay(time and a half),working holidays(holiday pay=double time)etc.
I’m working towards early retirement right now.
Join the FIRE MOVEMENT and be free
Early retirement equals a world of opportunity you never knew existed.
Indeed. Jobs are more productive yet our working hours continue to grow. Stress is getting worse and worse. We have to check out of this hotel.
There are so many pros and cons to this subject
Very true. I've watched dozens of these from many financial "gurus" and it still comes down to the individual. There really is no firm "overall" answer.
Just starting my 5th year of retirement and LOVING IT.
I love to hear that, Russ!
I ve had to leave work because I got cateracts and diabetes put that down to stress all the time. Still to wait 2yrs for pension. I got btl but more stress than worth. Hoping it gets easier.
As someone who is approaching retirement, you have to focus on yourself and your spouse. So many of our friends have adult kids on the payroll for life. Unless you are rich, most people cannot afford to keep the kids on the teat! I cannot believe it, you are not guaranteed good health forever.
Talking to my mum 85 she asked me when I'm retiring? I said 67! Felt guilty she went at 69. She told me go as soon as you can. So retiring to Thailand at 61. Retired at 60 and still retiring to Thailand.
I am so lucky retired at 55 and moved to Cebu Philippines......I had a good federal job and could have continued to work, but life is short....sometimes you have to make moves to improve your life.....I give myself some credit due to the fact that I have 3 pensions.....but also got a lot of breaks along the way....
@@usafdirtboyz2797 good luck to you. We all make our own luck. As you say you served your country and the pension that comes with it.
When you look around you how many expats do you see moaning how bad their life is? The reason is money to retire. Thailand at 60 is a $1,350,000 pension fund. Anything less you are not living just surviving. Hope you make it to Thailand one day
@@ShoelessNomadThailand Did u retire and make it to Thailand Tom ?
@@usafdirtboyz2797 Flight booked for 12 April. One way only. It's taken a long time.
I paid off my 15 year mortgage in 7 years. Paid off my 2000 silverado in 3 years. When I bought my first house and found out how the lender reduced my principal each month (the first payment reduced the principal by $10.) I was furious and decided right then to pay off my mortgage as soon as possible (I was sending the lender $4000-5000 every month to avoid all the interest.) However, the property taxes keep going up every year and the county is making it hard for me to keep up. The local government here in Tampa Fl is strapped for cash and they know that I can't run away (unless I move). So even with a paid off house and a paid off truck I'll NEVER be completely free. I am now looking for cheaper homeowners insurance because USAA wants me to pay the first $22,000 of any hurricane damage claim. In other words they want me to partially self insure. As far as a job goes, in most cases people hate their jobs because if it was fun ,everyone would want to do it!!!
Omg. All five apply to me. I'm 36. I own a home and wanna rent it out. I am a union elevator guy who does pretty well. But I'm sick of the commute and the stress. Ill be diving in head first glad I landed here, thank you
important video , great information, nicely explained.
Retiring at 62 end of the year to DR (No Bills) wit pension & SS good by Chicago & hello Island Life!
You’re right...Atlanta is an hour away from Atlanta!
I think it all comes down to some form of control . I left the fortune 200 as a ChE MBA at age 35 running a business unit with a new boss & strategy every year to become a small biz owner and doubled my income. Now 60, I've been so blessed to have exited the corporate grind. I have not had to attend a bs meeting for decades and never got "outsourced" in my 50's. Yes, some have made it but you have to sell your soul!
How to retire by 30. Step One: Get a high income skill that pays according to your skills not per hour. Step Two: Cut your expenses and live below your means. Step Three: Save and invest most of your money. Shoot for saving 20-50% of your income if possible. But if you can only do 10% then do that. Step Four: Grow your knowledge so that you can do better in personal finance and investing.Step five:Get a Financial advisor(obviously) Step six: Let time work for you. Start as early as possible, every year makes a huge difference. "The best time to start investing is yesterday, the second best is today.
impressive. I myself am pretty much focused on building my Roth IRA
hi i'm new to this please any advice for a retiree who would like to make huge ROI from a business?
ummm well i'm no pro but i suggest you read The Millionaire Next door by Thomas J Stanley or you can use an FA like i did. if you want you can use mine. i found her on a webinar on the F.I.R.E movement, you can look her up, her name is Lucy Maria Koss
We pretty much did what you said but loved our work in the medical field so much that we kept it up until our early 60's. We probably saved too much ( if that's possible). Literally forcing ourselves to slow down now.
I used to work for a company that dumped its company defined pension plan 15 years before I retired. With very helpful expert advice and tremendous self discipline I was able to retire 2 1/2 years ago. Giving advice to my co-workers about proactively taking retirement plans into their own hands was an exercise in futility. Typical Americans simply won't save, or plan on their own for retirement!
That's impressive, Craig! Congratulations!
I am so tired of getting up at 4:50 every day and getting home at 4:45 in the afternoon. Work with kids all day and getting really unhealthy and crabby. I am going to retire at 62. Do not have a lot of money saved thou!
My commute is about an hour each way but it’s on the bus and train so I can close my eyes, sleep, listen to music, read a book. I love it. So happy not driving. My job is a lot of fun so I think I will work a very long time.
I have more than enough money to retire now but I work remotely in tech on a project basis not by the hour and I love tech so I fell like I am already semi-retired and have been for years. Working remotely means anywhere with a fast internet connection and I have worked remotely from places like Paris and Barcelona.
I am 100% not engaged in work. I just use the job for a paycheck. Retiring early in 9 weeks and will never look back.
I'm already divorced, best financial decision I ever made. Retiring from one job next week. It'll feel like retirement to me only working one job.
All good points, looking to retire at 62 1/2 and for some of the reasons you cited Wes
I hope you have a wonderful early retirement!
I've been preparing for retirement and have been for a few years - I find myself being a partial yes on some of those reasons - but not a full yes on any...but I can say with no reservation - preparing early for retirement is the best advice I can give anyone - being prepared because no one can predict the future and even if i'm not a full yes on any of those reasons - I can see becoming a full yes sometime in the near future...I'm 5.5 years away from removing myself from my current employer - I think that's close enough to just bite the bullet and keep on going...thankfully I love what I do - just don't like where I do it.
I have a good job and medical insurance through my job. Last month I had an eye infection and the doctor prescribed eyedrop. It was not covered by insurance. I paid $100 for this tiny eyedrop. The irony, I used to buy a similar eyedrop for my late mother in Iraq, it cost less than $5. At that moment, I thought it might be better to retire and go to live in another country where you can get the same health care you get in the USA but 95% cheaper.
Retired at 54! 🥂
Nice video w sensible ideas to be aware of in life, not talked about enough w young ppl!
Yes to all 5
Good lord like every single point I’m nodding my head. My family has told me to quit numerous times. I’m gonna be 53…why suffer for nothing? I should get out while I have time. Food for thought FOR SURE.
I answered yes to 1, 2, and 3.....Trying to hold on for 14 more months. I feel like a zombie there, I watch the clock every minute sometimes. Holding on because I am boosting my 401k.
Same here!
Gee thanks I wish some one had showed me this 25 yrs ago......
Thanks for this. In UK
Great positive video thanks
You can't buy time. Retired at 55
now I'm 58 and haven't look back. Normal schedule can do what I want when I want. Bring home more money than I did when I was working. Have more money in my IRA than I did when I retired and have drawn with the 4% rule as you spoken. It can be done.
retired at 45. 20 years ago. Every day I think how lucky I was to have done so. But, i never had kids nor spent much money. Saved and invested. Lived far below my means. It wasnt all luck.
And how lucky you were to be able to even consider the possibility.
Last 10 years we were in same situation , we commuted for more than 2 hours daily .. now mostly it’s all commute .. last 10 years were precious though , huge stock market again , large gains on free stock from company .. the last 10 years made us close to retirement before 40 ..
Just paid my house off at age 35. Hoping to work for another 15-20 years and I’m walking away from it all. Life is short I want to enjoy it while I’m young. Luckily I telework 3 days a week and I live in a cheap place to live. Definitely worth the sacrifice so far
Great stocks and I just bought in on them, but I'm interested in making short term profit, let say turn a $150K to $500k in 6months, I'd appreciate tips on how what stocks to buy to make this much profit.
@maria sandra That sounds great and how do i connect with her ?
@maria sandra Okay i just found her website and left a message for her. thanks.
I retired 20 years ago. Good riddance to my boss constantly complaining about me. I retired to avoid getting fired.
slacker.
I'm in the same. FMF from hell.
Hello dear can we be friends??
I am 53, I cycle to work, I live in a place that has very good weather, my job is not stressful, it is interesting, I get out of the office most days on field trips, it's like having a very well paid hobby, tbh, I don't want to retire, I know I am very lucky to have such a job and have my health.
The elephant in the room is medical insurance. How can anybody seriously consider retiring early when they have a family relying upon them to provide insurance? Medicare kicks in at 65.
spouse may have insurance . Move out of the country to a place where health care is cheaper. Your current employer may have insurance that continues into retirement so always an option.
Medicare only covers you at 65, not your spouse if she is younger, nor your children.
Depends on what nation you live in. Health insurance in the USA is a joke.
Medical insurance enslaves Americans to working till death. There ARE other options.
You are right. I wanted to retire at sixty after 30 years with the same company with a decent reasonable pension. I had everything planned and when I reached 60 and turned in my retirement papers, then found out the “retiree” medical plan was 4 times more expensive than the plan employees were offered and the premiums would take half my pension. That left Obama Care as the only other option which is way to expensive so I had to work another 5 years just because of medical insurance costs.
Staff reductions, undesired job redefinitions, mind numbing meetings, pointless assignments/busywork. It's not the job I started with. Might be time to think about getting out.
I live in Hong Kong, and my commute is a 5-minute walk, including about 3 minutes waiting for the elevator.
And your HK rent for living that close to work is....
@@michaelpopkin9930 I bought in 2008, so no rent, and no mortgage.
I lost my job at age 61. Too young for social security. I came to the end of my savings in 2 months. I had to live with a relative for 10 months. I lived in a group home for women for 6 months. I finally turned 62 and received social security...had some income while I job searched. I got into senior housing. I got food stamps and Medicaid for healthcare. I live a very frugal life. I volunteer now. God is good.
I just retired at 50 with no financial issues with no need to work anymore.
I planned without depending on pension or social security.
Just used the brain I was given.
We live in a great country. 100 yrs ago senior citizens had to just fend for themselves, and were the poorest age group in our society.
Just turned 66, Lifetime single this is the toughest desission I've ever faced and zero on my bucket list of things like to do if I did retire so Guess I'll just keep working until some sort of a life changing event comes along because so far life has always gone unchanged...I even still weigh the same now as I did when I was in the 7th grade. Bouncer at hip hop club last night carted me after all ready inside the club had to see an I D because in his mind there is NO WAY that guy is old enough to drink
Am encouraging former coworkers to do so if they are able.
I retired at 49 and bought my dream home in Henderson Nevada which is a stone’s throw from the Las Vegas Strip.
Moved here from Destin, Florida after 30 years and absolutely love my new desert lifestyle.
Nothing beats the Vegas nightlife, Restaurants, entertainment and on and on.....
I’m living the dream 🥂
The way Vegas is now. I'm pretty sure you want to move back to Florida
@@michaelrodriguez3329 I’m not sure I understand your reply and nothing could be farther from the truth.
Everything is pretty much open other than the buffets and NO, I would never move back to Florida ....ever !
@@DucatiQueen I disagree with you ... but that's okay
@@michaelrodriguez3329 Everybody is different. Vegas may not work for but that does not mean that it will not work for someone else.
Been on an Oncall schedule for the last 35 years. It is totally draining and I have developed stress and anxiety due to it.