Fear #1: Many of us grew up with parents who lived through the depression. Hearing those stories throughout your entire childhood has an effect. We will always live below are means, even in retirement. Fear #5: We are self insuring for long term care. If necessary we will take a reverse mortgage.
Thank you, James, and happy holidays. Instead of being paralyzed by these fears, you outline the SOLUTIONS. Because of ur help (retirement makeover) I am ready to take the plunge (I’ve agreed to 1 more month full time work (only commuting 2 of the 5 days) & then part time as a consultant for as long as I want/need to. This way I have some reading wheels and can get my routine down. Thanks again!
Merry Christmas. You talk about long-term care insurance. Seeing how there are so many types available. Could you do a video on how to select the proper policy?
I mean, retiring at 56 sounds great, but the longer your money stays invested, the more it compounds. It's one of those things where the earlier you stop, the less potential for growth, right?
As I understand it, a HSA cannot be used to pay health insurance premiums in retirement. It can only be used for all other healthcare related expenses. Correct me if I'm wrong.
I have zero fears. I’m never gonna to retire! The day I stay home with my wife 7 days a week is when I will truly go to work! Seriously, your five fears are on point. Without a purpose, a passion after retirement, you will initiate a cascade of declining health issues leading to depression and a shorter lifespan. I realize I don’t have a purpose, a passion other than my profession. I don’t consider my career work but my passion so will do it as long as my health allows. If I had a physically demanding job, then I would have already retired. It’s not how long you live but how you lived. Everyone is different but people should retire early enough to fulfill their bucket list . If u do by chance outlive your money, who cares. You did everything you wanted to do in life…and you always have SS
Fear the market? Maybe the advice to ignore your portfolio for all of your life is wrong. Maybe you should watch and learn about the market while you have little to use. Get to know the market. Become comfortable with how it behaves. Will this cure all? No. But if you really cannot tolerate it, there are ways to get help.
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Fear #1: Many of us grew up with parents who lived through the depression. Hearing those stories throughout your entire childhood has an effect. We will always live below are means, even in retirement.
Fear #5: We are self insuring for long term care. If necessary we will take a reverse mortgage.
Thank you, James, and happy holidays. Instead of being paralyzed by these fears, you outline the SOLUTIONS. Because of ur help (retirement makeover) I am ready to take the plunge (I’ve agreed to 1 more month full time work (only commuting 2 of the 5 days) & then part time as a consultant for as long as I want/need to. This way I have some reading wheels and can get my routine down.
Thanks again!
Merry Christmas. You talk about long-term care insurance. Seeing how there are so many types available. Could you do a video on how to select the proper policy?
Love your videos James, keep up with the good work! Merry Christmas! 🎄
Excellent points and excellent pointers on how to deal with each. Thank you!
Thanks James. I love your videos.
HSA is the BEST savings option. You must meet the requirements but it is superb: Tax-deductible upon contribution and NOT taxed upon withdrawals!
I mean, retiring at 56 sounds great, but the longer your money stays invested, the more it compounds. It's one of those things where the earlier you stop, the less potential for growth, right?
I found that numbers 2 and 4 were most relevant to my case and that I had not given them much thought. So be sure you consider these.
The corresponding podcast for this episode won't properly download/play on iOS. This happens from time to time for your podcast... not sure why.
One of my retired friends has more than $100 million in assets. He's not worried!
As I understand it, a HSA cannot be used to pay health insurance premiums in retirement. It can only be used for all other healthcare related expenses. Correct me if I'm wrong.
Great Video!
You can’t just get an HSA.
Best source of friends in retirement: A good Bible-based church.
I have zero fears. I’m never gonna to retire! The day I stay home with my wife 7 days a week is when I will truly go to work!
Seriously, your five fears are on point. Without a purpose, a passion after retirement, you will initiate a cascade of declining health issues leading to depression and a shorter lifespan. I realize I don’t have a purpose, a passion other than my profession. I don’t consider my career work but my passion so will do it as long as my health allows. If I had a physically demanding job, then I would have already retired. It’s not how long you live but how you lived. Everyone is different but people should retire early enough to fulfill their bucket list . If u do by chance outlive your money, who cares. You did everything you wanted to do in life…and you always have SS
Fear the market? Maybe the advice to ignore your portfolio for all of your life is wrong. Maybe you should watch and learn about the market while you have little to use. Get to know the market. Become comfortable with how it behaves. Will this cure all? No. But if you really cannot tolerate it, there are ways to get help.