The 4 phases of retirement | Dr. Riley Moynes | TEDxSurrey
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- Опубликовано: 26 апр 2024
- Imagine squeezing all the juice out of retirement! When interviewed on his research, Dr. Riley Moynes commented, “I wish I knew then what I know now about the psychological challenges that accompany retirement. It would have made things much clearer and easier.”
By interviewing hundreds of retirees, he has discovered a framework that can help make more sense of this challenging chapter of our lives…one that, for many, could last for 30 years or more.
If you’re retired, this talk will make things much clearer for you. If you’re not, you’ll have a better idea of what to expect when that time comes. Riley has enjoyed a distinguished career spanning four decades in both public and private sectors.
In public education, he served as a teacher, Department Head, a Superintendent and a Director of Education. He also authored several textbooks including a History of Russia, and a World Religions text.
In the private sector, he was a Founding Partner of a national wealth management firm, author of a book entitled The Money Coach which enjoyed sales of over 200,000 copies in six editions, and co-author of several editions of Top Funds.
Since stepping back from day-to-day involvement in financial services, Riley researches and writes reader-friendly publications on topics of general interest, and presents Workshops across the country based on those publications.
One of his most recent books, The Four Phases of Retirement, became a Canadian best-seller within 12 months of publication, and is the basis of his TEDx Talk.
In the book, he explains how he waltzed through Phase One of retirement, struggled in Phase Two, tried a dozen ventures in Phase Three and now in Phase Four, assists others as they navigate their way through the psychological changes and challenges almost everyone faces in retirement. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx
My $400k retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 22 years of working hard.
Do you plan on retiring before 59?
That is what determines it for me. I switched to cash flowing assets because I wanted to retire early
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter financial decisions.
Generally speaking, a good number of people discredit the effectiveness of financial advisor in planning for retirement, For over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
Is there anything like proof recession stock? I am 58 years and would like help in managing my retirement portfolio which is currently $1.25M...down from a high of $1.67M….
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
@@DarleneMurphy774 True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of $550k...that's like 7times more than I average on my own.
@@ThomasHeintz that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.
@@Matthewbrandon859 SCAM SCAM SCAM!!!!!!
I wish I had more time for experimentation, but I'll be 50 by June, and I'm looking for ideas and suggestions on what investments to acquire to set myself up for retirement, especially with the looming inflation; my goal is to have at least $5 million by the age of 65.
My holdings were down a lot and I sold at a loss majority of the time, which prompted me seek the service of a coach I found-featured on Bloomberg, she hatched an adjustable system that aligned with my retirement plan and overall goals, it's been less than 2years and I've gained over $830K.
I feel your pain, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $130k in passive diversified safe-haven assets, Up 200k so far and pretty sure I'm ready for whatever comes.
So who is the Advisor that tutored you? And how can I contact them, i'm in need of their skillset.
Lisa Ann Moberly, you can read up on her, she's quite known and her works speaks for itself.
Thanks, I found it. I booked a call with her on her website, her resume seems pretty tight.
I just retired at 58 years old. It is easy if you are introverted and could not stand working....I have never been happier.
Wow, I still wonder if I retired too early at 66. Luckily, my workplace allowed me to continue working part time, which I am still doing 3 years later. I think that was a transition that made the whole thing easier for me, but I am thinking of letting it go. I am introverted also-although I think that just means I want peace and quiet and time to do all the things I love doing.
I retired at 57 after many years of very hard work. I'd simply had enough of people, clients,coworkers and most of all fellow commuters. I didn't know I was an introvert until I could sit still! It wa a huge adjustment and very difficult a first but now I love it!
@@leahferrell3110 to me retire after 40 is already too late. retire at 35 is ideal
I love being retired. 7 years now.
I’m not super well off, but I’m comfortable and never get bored.
I enjoy the quiet and simplicity.
This ⬆️
Great simplicity, learn, play with Grandchildren, help poor children in Oaxaca where I live. Help with Permaculture in schools, visit friends. Thanks for sharing
Me too.😊
Guess I am still in phase 1 after 3 years and still cannot be bored out of it as I love it soo much 😂
I’m six months into retirement. Age 61. I’m single and not bored at all. I keep a daily routine of small projects, exercise, reading, coffee, humor (Laurel & Hardy), puzzles, my cat, houseplants, music, piano playing.. I’m good for now !!
I retired from a busy and stressful corporate life at age 65. I migrated straight to Phase 4 - clearing invasive weeds and regenerating degraded / infested rainforest opposite our home. Found complete enjoyment and immense satisfaction. Two years later I have cleared around 7 acres of invasive species and witnessing the return of natural rainforest flora and fauna which had previously been choked out. I have enlisted other retirees as co-volunteers. Never been happier and fitter. Can’t wait to wake up for the next days efforts including photographing and cataloguing species I am finding…
Wonderful!!!
What a beautiful and rewarding way of living.
Wish i could join you
I need to do this
That is so AWESOME!
Retired now for almost 23 years. My advice is take care of your health and finances. Travel wasn't on my list of things I wanted to do, I did plenty of that during my working years. Get and stay healthy ! Stay mobile as long as you can, normal weight, good diet, reasonable exercise (physical and mental exercise). Help others when you can but don't become an enabler. Mobility becomes very important as we get older, eyes, ears, balance, dexterity and the strength to do what we want. Many of the people I know (probably most) have prediabetes or diabetes type 2 a lifestyle disease that can and should be controlled by diet. Relatives, relationships, beware of toxic personality people. Help them if you can but be ready to detach if you can't. Each of us are individuals but these things will apply to all us.
You make an important point about staying healthy. If you access our "health care system" you will shorten your lifespan for sure.
I am 70 almost 71. Have been a nurse 50 years this year. Have loved every day of my career. I did critical care with infants, children, adults and the elderly. I payed attention to all I cared for. I get check ups EVERY year along with my lab work etc. I don’t take any meds. Keeping healthy is like having another career. You have to work at it. I see all the preventable illnesses that people have and a good majority don’t have to be that way, most have brought the illnesses on themselves. Having preventable illnesses is EXPENSIVE. That money you saved for retirement is now funding the ill health you should and could have controlled. By the way I still work.
Agree 100%
@@louisel.sinniger2057 Yes, I agree. If you are diagnosed with CKD, how often should you do bloodwork? My current PC thinks once a year apparently. I disagree. Your thoughts?
@@notedrockhistorian4382 Hi. Well, let me say this. If I was diagnosed with CKD I would hook up with a Renal specialists. I know, I know, a specialist?!
PC’s are good however when you get into specific organ problems it is a good idea to be evaluated and followed by a Specialist. THEY are the ones that know specifically how often you should have lab work. But, it also depends upon what those specific labs look like. Hope this helps.
Retired for over six years now and my only down side is regretting how much of my life was wasted working for a living.
Baloney. I'm 74 years-old and retired 16 years ago. I'm still in phase 1 and couldn't be happier.
This comment made my day! 👏👏👏
A fellow dog walker and weed whacker.
Chacon a son gout!
So you think that what is baloney for you is baloney for others? Thanksfully, for society's sake, some of us need a purpose in life beyond our own pleasure.
I am 75 years old and 10 years into retirement. All of it spent in phase 1 with a smattering of phase 3. After a working and personal life of service to others, I'm done with that! I'm the focus of my 'service' now and lovin' every minute of it! But I am glad you have found a system that works for yourself, too.
I worked in a very toxic work culture but was too terrified to look for another job---the pay and benefits were terrific, and both my boss and my (now ex-) husband kept telling me, "Who'd hire you?" Finally, at age 67, I was downsized out. After awhile I moved into a seniors facility that is like being on a permanent cruise. I've been retired now for almost 9 years and for the first time in my life I'm actually happy. I feel like I'm "resting" from all the bad stuff in my life, and there was a lot of that. I no longer care about "finding meaning" in my life. The thought of working fills me with horror. And frankly, I STILL can't wait to get up in the morning. I do what I please, when I please and with whom I please. There is no one to get approval from any longer.
Kudos to you! The relief you must feel waking each day knowing you don't have to tolerate insufferable people (bosses, former mates, etc). And here: "I no longer care about "finding meaning" in my life,"
People are working and there is little or nothing to show for it. everybody is basically working to sort out one bill or the other. no savings.
With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy. How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits.
You’re right! The current market might give opportunities to maximize profit, but in order to execute such effective transactions, you must be a skilled practitioner.
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
@@AlexanderTurke That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well.
@@RebeccaBellick I am being guided by “HEATHER ANN CHRISTENSEN” who I found on a CNBC interview where she was featured and reached out to her. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.
I’m 66, divorced and retired for several years, alone but not lonely! Workout everyday , bike ride along the river, hiking and fishing. Top it it off with lots of travel. And read a couple books a week. Life is good.
This talk is for people who did not develop and nourish a life outside of work.
Following the current inflation rate, FIRE and Retirement plans should be out of the options with seasonal job layoffs included! at this point having a job doesn't mean security rather people should join a business trade and build more streams.
Big ups to everyone working effortlessly trying to earn a living while building wealth even after the massive layoffs. My wife and I we are both retired with over $2 million in net worth and all paid off debts. living smart and frugal with our money, made it possible for us this early, even till now we earn passively with our asset coach.
Adapt to a lifestyle, be thrifty, set a budget, save money and build more streams.
Excellent choices having a great savings and more streams to earn makes life goal’s easier but our way of life needs better alternative,at the same time, people also need to be more responsible. I know for a fact that there's a lot of people that simply don't make enough, I make roughly hundred plus a year and in California, rent inflation alone eat up almost all of what I make, with dependents and other obligations included, it's easy to end up with zero. however it’s a good time to add to existing asset holdings as follow -on opportunities
I resonate with what you said ma’am, you could also take advantage of some growth stocks at the moment, every pro is currently bagging on some digital surge. For me, my coach Frost hilda my advisor has been using every opportunity to ensure I benefit, well positioned as I’m also privy to improve. It completely changed the approach for me, feel free to write direct to help construct your approach as well.
I have got he's socials, also part of an audience with Frost Hilda, a huge economical nerd, these well anticipated results has impacted a lot of exposure for me.
Never a worry for me. My husband had numerous hobbies…physical ones, brainy ones. Still downhill skied in his 70’s, sailed, Tai Chi….astronomy, RC gliders, and MORE. At 78 a brain aneurism took him suddenly. He went out on a high….active, doing what he loved. I’m the one that’s dealing with loss. I’m 85 now and life seems to be one long exercise in letting go.
shirleyclemmer3: Your husband seems to have been such a positive influence in your life and he’s still in your thoughts and therefore still by your side now. Consider carrying on his legacy of vitality and positivity with your own twist/stamp on it. Wishing you well.
Retirees facing financial challenges often couldn't save enough during their working years. Retirement decisions play a pivotal role. Despite my parents having similar years in civil service, my mom invested with a wealth manager, while my dad relied on his 401(k). As a result, my mom retired with approximately 3.7 million, whereas my dad retired with around 1.4 million
Yes, it's true. In my mid-50s now, my wife and I were on a similar path. In the last two years, I switched to her wealth manager. While I haven't matched her long-term profits, I'm earning more. I'm making money even before retiring, and my retirement fund has grown significantly compared to relying solely on the 401(k).
It's unfortunate that many lack this information. I understand why people might panic. The lack of knowledge can be a significant obstacle. Personally, I've been generating over $33k passively through investments with an advisor, requiring minimal effort. Regardless of economic conditions, skilled wealth managers consistently yield returns.
I believe it's something I should pursue, but I've been procrastinating for a while. I'm uncertain about which firm to choose; they all seem similar to me.
Firms often prioritise their commissions over your profits, which can be frustrating. I prefer individual investors who earn a commission based on profits, not capital. Personally, I'm working with Stacey Lee Decker, and she's been outstanding.
You scammers are relentless! Anything for a buck right...
I really liked this video because it confirmed for me what the majority of people think about retirement: that you will quickly get bored because of lack of a routine, and will struggle to find a way to replace the meaningful parts of your life when you were working. When I was nearing retirement, many people told me that I would be disappointed after I retired due to boredom, and I told them that I didn't think that would be true for me, but that I would let them know if they were right sometime down the line. I retired at 62 after working full-time for 40 years, and immediately felt the freedom of not having to keep to anyone's schedule but my own. My wife and I have been retired for 12 full years now, and neither of us has spent ONE SECOND being bored. We aren't wealthy but we have enough to pay our bills and have a little more fun. We love going on vacation, usually just a drive to a different city, and sometimes a flight to Hawaii or Florida. When we're not travelling, we have our own hobbies that keep us busy. My wife likes gardening, making jewelry, and cooking. I like music, golfing, and photography. We combine our hobbies sometimes, like when she helps me with my photos on vacation as she's learned to take great photos with her camera, or when I help her cook and develop my own favorite recipes. Best of all, our retired life IS our new routine. We have all our meals together and watch TV from 8 to midnight most evenings. We sleep on our new schedule, 2 am to 10 am, and are both sound sleepers. Fortunately, we are both healthy and have a fitness workout 3 times a week that helps keep us that way. In short, our Phase 1 has lasted WAY longer than the average 1 year he spoke about, and to be honest, I think we're still in Phase 1 after 12 years. Maybe it's because my hobbies are not something that you master quickly enough to get bored. Golf is something you never master, you just keep trying to hit good shots, and if you really like to play, you keep practicing in order to hit more good shots. I've played guitar for over 50 years, but I never had the time to get really good at it. But now I can practice much more and have improved a lot more in the last 12 years which is very gratifying. It inspired me to try to learn to play piano at age 71, which was a real challenge. After 2 years of instruction, I am nowhere near any good, but I do get better the more I play. So much more so, that I play piano every day now but only play guitar once a week. I guess my main point here is that not everyone is going to experience these 4 phases, so if you are nearing or new to retirement don't think that it's automatic. Do use these concepts to guide your retirement planning but make your golden years your own in your own way. If you need to make life more meaningful, follow some of his ideas. If you're happy to be free of the 9-to-5 grind and don't feel depressed or adrift, just continue to enjoy it.
I think retirement is state of mind and we can be in whatever phase we want. Sounds like you have found a superb balance of enjoying what you do and gone straight to phase 4!
Lots of good stuff in this reply, thank you.
100% agreed - same here and hope it stays that way 👍
The glass is always half full, loved reading your positive appraisal of life in retirement. I started an outdoor cleaning business when I was 60 and full intend to keep cleaning into my 70s. I’m 65 now. If I’m not working outside, I’m managing the business inside (invoicing, accounting, digital marketing etc) or cooking dinner for my wife and I (she’s younger than me and works four days a week). Our three day weekends are all about walking, birding and getting ingredients for our meals. Grandchildren on the way too! I think you get out what you put in and having a positive mindset is a great constant 👍
My phase 4 is my grandchildren. I am giving myself to them for as long as I am able.
They are amazing people to spend time with.
@@donaldgossett1736 AND help keep you on your toes, physically and mentally.
Loss of routine is to be welcomed, not feared. Escaping the daily grind and not being locked into a schedule, is fantastic.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@@AustinWalker67 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@AustinWalker67 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
@@AustinWalker67 I will give this a look, thanks a bunch for sharing.
Western society, particularly in the US, puts so much emphasis on 'doing' and 'producing' that it is no surprise some struggle with retirement and seek to confirm their self worth by 'doing something' even in retirement. I have been retired for about 5 years now and notice that with some retirees there seems to be a competition to show who is more active or doing more charity work, etc. Kinda the same as when they had their 9-5 jobs but just without performance plans. I do agree establishing a routine is beneficial in retirement. For me it is pretty much daily exercise, yoga (including mediation), trying to learn spanish, cooking, etc. and some volunteering on the side. There is a huge mental component to being OK without 'doing stuff' to prove your self worth. It is so great being able to do what you enjoy without the hassle of trying to squeeze it in around a 9-5. But I think I am most happy when someone asks me what do I do with all my free time and all I say is 'just being happy'.
Agree!
Yeah I’ve been retired a couple of years. I do miss the routine and contributing to the broader society but I’m happy doing things for my immediate family for now. I don’t miss dealing with staff and customers.
Great point. Are jobs are more a part of our identity than it should be it seems.
Great perspective! Thank you
Bingo. Yes, I was struck how there wasn’t a single word about deepening own’s own spirituality, or maintaining physical vibrancy. That alone can be a “full time job!” ;)
I retired at 56 and my advice to everyone one is retire as soon as you can life is too short you never know if you will be here next week stop saying I’m gonna…… do it
it was one of the best and easiest things I
have ever done
Just what I needed to watch.
My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52.
We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@elliot985 Please can you leave the info of your investment advisor here? I’m in dire need for one.
@@robertosaviano215 You can do your research and be on the lookout for one with intelligent strategies who'll help your portfolio maintain an unwavering and a progressive growth. Isabel Cecilia Ramsey is my FA. She has the Flexibility & Expertise to Meet Your Needs. Verify her yourself
@@elliot985 I just looked up Isabel online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
The Men’s Shed movement, begun in Australia, is excellent for old guys helping each other and helping the community. I’m a retired builder and teach woodwork to our members and make quality wooden toys for the community.
Wonderful - pay it forward, my friend. 👍
I’ve been retired 14 years now and am still enjoying phase one of complete freedom. For each his own.
Awesome advice just what i needed theres gold gems in old Goots
Shallow people would be fine in phase one. Those with a strong drive of purpose and service would not.
@@johnestupido1418 how sad that you would say that. You have no idea what is happening or has happened in that person's life. Don't be so judgemental.
@@petefols153 Actually, in my 60 years of life, I can cut to the chase. But you keep on with you virtue signaling. It is kind of cute in a naïve way.
@@johnestupido1418 LOL your pseudonym fits you well.
This was very good. However, I think one phase was overlooked. I’ll call it the Caregiver Pause Phase - experienced more often (but not exclusively) by female retirees. This is the phase where you are forced by desire and/or obligation to pause your natural retirement flow and take on an unpaid difficult and exhausting job of managing the finances and/or healthcare of elderly parents or other relatives. It can entirely interrupt your retirement for months or years, and depending on numerous factors it can be a blessing or a burden.
Just surprised he didn’t mention it!
NAILED IT, Martha! 👍
He didn't mention it because he is not a woman.
Or your spouse!
Yep. I didn’t get that freedom of retiring. I was so looking forward to it.
That is a really good point. I know many women including myself who ended up in that situation.
There is potential for considerable wealth increase with the correct strategy. I want to know; How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
An effective strategy serves as a cornerstone in an investor's portfolio. As the level of risk increases, so does the potential for reward, making it essential to seek advice from experienced professionals for making sound decisions.
Many underestimate the role of advisors until emotions impact their decisions. A couple of summers ago, after a lengthy divorce, I sought a boost for my business survival. I found a licensed advisor with top qualifications. Despite inflation, she has helped grow my reserve from $275k to $850k.
Precise asset allocation is crucial, with some employing hedging strategies or allocating to defensive assets for market downturns. Expert guidance is vital for success. This approach has kept me financially secure for over five years, yielding almost $1 million in investment returns.
What steps can I take to engage in this opportunity? I genuinely aim to secure my financial future and am enthusiastic about taking part.
Karen Leigh Owens is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I've been retired for twenty years. I'm now 76 and still in phase one. This is where I intend to stay. I've paid my debt to society, thank you.
Good for you. Some people seem to have to be “worthy” or what they see as worthy. I do what suits me. Nobody can tell me what to do anymore. I go through these phases regularly and then move on to another phase and back again maybe. 😂
That sounds like the best outcome …
I began the process of retiring a few months before my 55th birthday when I got a corporate buyout. But I just transitioned to doing work that I enjoyed. I became a college professor, and didn’t fully retire until the middle of my 71st year. But I spent those 16 years preparing for retirement, taking long vacations and traveling in the summer. I was working half the hours I put in during my corporate life. After finally retiring, I spent three years of frequent travel, then CoviD hit. But I had books I wanted to read and other interests, so it wasn’t too bad. The tough part was physical aging. I had physical limitations that stopped my skiing, running and sports activities, I was losing my hearing to the point of having difficulty in conversation and limiting many other activities. 65 to 75 is the “young old” age group. At 76, you are just entering the “old” group, and will find yourself losing activities that you enjoy as you move toward the 85+ “old old” demographic. Even if you succeed in staying in phase one, it will become challenging.
Same here, Meredith. Retired for 6 years and apparently still on ¨phase 1¨. At the beginning I had some sense of loss but it didn't last long. New relationships pop up. New routines are built. Of course, we are all different. Some people have forged their identities based on their jobs and that's understandable. But in general, I couldn't disagree more with what is implied in this lecture.
I love it!😃😃😃😃
I love this - excellent presentation. I consider myself to be very fortunate. I was able to retire at age 59, and I just turned 70. I've thoroughly enjoyed all of that retirement time. But it may be different for me. I'm extremely introverted, but for some reason often found myself in management positions. Parts of it I loved, e.g., being a resource for individuals and helping them reach their potential. But the rest was exhausting - meetings, being around some people trying to puff themselves up and impress others. I had no desire to try to do any of that.
Then I retired. What a blessing! I live in the foothills of the Rocky Mountains, so I was able to resume my duties watching the clouds and monitoring the mountains - well, because somebody has to do it. I report weather events to the National Weather Service, keep track of the birds, deer, bears, mountain lions, and moose. I'm also blessed with a wonderful wife, two wonderful sons, and two rather exhausting grandsons (ages 4 and 1). I've also done a fair amount of editing of various types and taken apart quite a few old pocket watches (getting them back together is a different issue).
Of course there are some downsides. I'm unable to play guitar and bass (I've played since I was 13) due to severe arthritis in my hands, and I'm no longer able to enjoy boating in the Great Lakes as I once did due to issues with balance - I'm not too eager to fall overboard.
I have no problems with being alone (I'm never lonely) and "squeezing all the juice" out of the quiet and beauty that surrounds me. And I still keep in touch with friends from my younger days who are important to me. We just pick up our relationships where we left off.
My family has always been more important than my career, and I think that's what helped me prepare for retirement (though it did not help my financial progression). I also developed many interests and hobbies outside of work. I certainly understand and know people who have had problems adjusting to such a major life change as retirement. But hang in there and listen to the excellent advice presented by Dr. Moynes - you'll get to Phase 4.
PS - Apologies for the long post; the words just came flying out of my fingers...
Thanks for the talk. I'm completely happy at this stage of my life with the situation
I'm in.
👍
Hi - I enjoyed reading your story. I'm recently retired 71 and truly enjoying it too. Onward!
I really enjoyed reading this - thank you.
Yes. I agree with your point of view. Retirement is a phase of life to sit back, relax and enjoy life by doing nothing
Retired 5 yrs now, I’m either permanently stuck in phase 1 or skipped to 4 with 1 being my definition of success and happiness! Enjoy every minute of retirement!
That's great! It's been over 2 years for me and I have not hit phase 2 yet. I didn't over-identify with my job or think that it was my life's purpose; it was a means to an end with some satisfactions along the way. My routine was grueling and I don't miss it. I miss some of the people from my last job but my primary relationships have always been outside of work. And for me a sense of power was not applicable in my job. Who knows, maybe phase 2 will hit at some point but I am not there now.
The key to contentment in retirement is knowing you gave it your all in your younger days. Let someone else carry the load. I did my part.
I retired at 50. I’m now 57. I found that phase one can be enjoyed for years as long as alcohol is carefully controlled or given up entirely.
I quickly taught myself that my once ‘all consuming’ thirty year career was just a job that didn’t define me. It was something I did once and do no more. I loved it once but don’t miss it.
Some of my friends try to ‘squeeze the most out of retirement’ and they end up chasing round like Alice’s white rabbit, never feeling like they’ve ‘done enough, seen enough, belonged to enough’. That attitude can haunt as much as it helps.
What works for me is to let go of the need for power, status, and social acceptance, eat and drink in moderation, exercise in ways I enjoy, appreciate the little things, and keep waking up the following morning.
thank you for sharing BB; I’m in a similar situation to you (working part time now - by choice) ~ slow transition to retirement ~ away from work ~ I play music 🥁 🎸 and also surf 🏄♂️💦 all of which take up lots of enjoyable time and as you’d know great for physical and mental health .. 🙏🏼🇦🇺
@@bodhi9464 Sounds fantastic. Keep enjoying those waves, and try not to rob any banks 😉🏴🇦🇺
@Ian I can’t say too much. 😉
I had to resign at 56 due to health issues and am now 58 still in phase 1 (forced retirement) . Hope to be up & about soon and 'do something'.
@@nahidsyyed906 Good luck, Nahid.
Retired for 8 months & it has been life changing. Now sleep a deep 8 hours every night, eat so much more healthier than I ever had in my entire life with a 40 lb weight loss, and doing whatever I want, whenever I want. If this is all there is to retirement, then that's fine with me. As long as you have your health & enough brain cells & money to survive, retirement is heaven on earth.
God said you're not supposed to retire.
@@steveletro4252 The Lord Jesus Christ.
@Ian The existence of Jerusalem proves the existence of God.
@@davidlafleche1142 First, define retirement. Are you talking about laziness, or financial freedom to determine how you spend your time? I think that is a significant distinction. Second, chapter and verse, please.
@@paulplant7956 God says man must keep working until he dies. We can take a day off, take a vacation, etc.; but retirement is a sin.
After watching this talk, I have decided to never retire voluntarily. I am just reducing the hours that I work and that gives me the best of both worlds.
My retirement motto is " simple living, simple thinking "! Enjoying a totally relaxed lifestyle. Focusing on my health, and well-being, things that I enjoy doing such as exercising, cooking, shopping, researching online, vlogging, and spending the evening watching the glorious sunset while drinking my favorite brewed coffee followed by late evening 'happy hour' with my favorite chilled beer or gin n tonic, popcorn, tuna salad w/boiled peanuts garnished with chili oil, onions and tomatoes, and olives!
When asked what are you doing nowadays I reply that I am Totally Retired! Practicing the art of doing Nothing but enjoying the Stillness and beauty of Mother Nature and delving deep into myself, contemplating, meditating, realizing how wonderful this world is, and truly appreciating the finer things in life.
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing
I'm 54 and my wife and I are very worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, all those years of work just to loose it all to a crisis you didn't cause.
@@MIchaelGuzman737 I feel your pain mate, as a fellow retiree I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor "Theresa Mary Chamblee'', this year for assistance, and following her advice, I poured $150k in passive diversified safe-haven assets and its yielded $325k so far. Nothing special, just proper diversification and a cut loss and take profit strategy.
I think it's especially difficult for retirees and near retirees, I know to focus on the long term but the anxiety when you're supposed to be retiring in 3-5 years is exhausting. it's hard for me to take part in the market right now due to the fulltime nature of my job. it will be way to stressful to combine so i don't even think about it
I think people who suffer are the ones who don't think about their future and don't invest. Investing has really saved many lives and got people off the streets. everyone needs more than there basic salary to be financially secured. the best thing to do with your money is to invest. Money left in savings always end up used with no returns.
Every single bear (U.S.) market eventually recovered and hit new ATHs, and every stock investor wished they bought more during the sell-off. Buffett bought $600 million more $AAPL during a 3 day sell-off in Q1 2022. The wealthy get this and it's 1 reason they keep getting richer
Few years ago, majority hoped for a downturn so they could invest and come out big with more profits like most investors did, now an opportunity has presented itself and they’re still holding back. Nothing spectacular come out of playing it safe, maximum returns can be obtained with maximum volatility.
Truly.. opportunistic investors should also keep an eye out for movement in key stocks to shore up their portfolios.
Fixed a ton of money in crypto and a little percentage of funds in stocks, the market trend right now is alarming and my portfolio has been bleeding since the beginning of the year.
@@rohitmajumdar1579 as long as the coins in your portfolio is solid, I believe you’ll be good in the next bull run. I’m currently buying the dip of some coin I’m sure has solid foundation and backing. It also counts as utilizing the current market to your advantage.
@@rohitmajumdar1579 I feel you, man. If you can't milk the market, I'll suggest investing as little as $50 per week in a particular coin until the bear market is over. The following bull market will make you one of the millionaires. By continually recognizing winning positions, diversifying my portfolio with gains from long-term stock investments, and regularly trading in cryptocurrencies, I have been able to profit from the present market despite market trends. This year, my portfolio earned over $200k in semi-annual trade profits.
@@zacharyowens4571 What you’ve accomplished in the past six months is outstanding! I just need to start thinking outside the box to ensure my portfolio beats the market.
I retired at 52 and am the happiest I've ever been. Never felt any of these things mentioned. I slept till noon for a month, just totally exhausted. Then I sat outside on warm days with the sun on my face and said to myself this is what I missed. Loved it!
Yes, I felt almost traumatized after the last few years of teaching and it took months to kind of feel like I had healed a bit. Now it is wonderful and the world is my oyster.
52 ? Were you a lifelong govt hack ? So no real difference between your working and retired days lololol. Sitting around doing very little.
@@matt75hooper Rude!
@@davidgw59 probably doesn't know any better.
A month ago I placed a comment on this, and advised that I'd had around 75,000 views on my on videos of Retirement. Today, I can tell you I now have around 86,000 views and over 1,000 subscribers. This is not only an indication that I'm succeeding in my aims for helping more people (I'm 87 and have been retired for 28 years) but there is a huge demand for this sort of subject matter. Keep it up, Riley. People need you.
I retired at 55 and now in my 3rd year and I'm still firmly in phase 1.
I retired less than 2 months ago and am already in Phase 2. Had no idea of the mental challenges I'd feel. This talk was perfect medicine for me to keep trying until I re-find my place.
Yes I am over 2 years retired but due to covid and isolating it's tough to get out there. Travel by vehicle has been great but I am still struggling with anxiety regarding getting on a plane. So more travel and finding more community are my goals for 2023. It;s definitely a process and to keep trying new things and new people with similar interests. I think you can go from one phase to another and back again.
I'm 72. My early difficulty was spending money and since I had ALWAYS been saving.
I retired at 56 after 35 years as a nurse. That was almost 5 years ago. I work part time to keep my sanity. You simply cannot sit around doing nothing. I dabble in learning new instruments, restore pianos, drive as a courier and raise my young daughter whom was a complete surprise. Just having the opportunity to do things that was not possible when working has been wonderful. I never had many friends before retirement, I don’t miss having friends. Most of my family and closest friends throughout life have already passed away. It’s important to get out there and make new friends. My oldest daughter is pregnant and so will be my first grandchild. I am excited to become a grandfather. Life is a series of phases and always changing. The alternate is death, and I’m just not ready for that just yet. I have many family members waiting for me in the next life. I have had a strange good life. Certainly not the path I wanted, but how many of us really get everything we want in life?
I’m 60 and retired 5 years ago. Before I retired, I went back to college, got a master’s degree and started a completely different career. I plan on working the rest of my life. Our mind and bodies are not made to be idle.
Who says we’re idol just because we don’t have a full time job? I have never been so busy
I too feel that we somehow keep ourselves fully occupied even without our usual past office going routine ! Let me say this but Indian conditions
I am a Chartered accountant with such challenging some times stressful to accomplish something for your company and justify your pay cheque . This was going on from 40 years , you sleep and wake up with the same thoughts Hey what if this situation continues in market or with banks to support our company and then how I am going get my children the right academic institutions and then try to look for proper guidance for them so that they don't miss out on marks etc . That is over now! God Bless all of us
Now I am retired ( rather forced to as I could not and do not want to go to new work place at this age or I don't see my relevance in any place probably ) well so I thought let's enjoy phase 1 ! But the point I want to say is that I am still busy how ? I get up at 5.30 am go for a walk from 6.15 to 7 am and do some yoga 5 days for one hour then BF and watching share market ( for whatever pea nuts shares I hold ) and the use that knowledge to wsapp my expertise with everyone as if I am jhunjun wala who owns some 1000 crs worth of stocks and then open my laptop and chat in LinkedIn with my industry guys as of I know or I did so many things during my active work life and then lunch and bit music singing on free karaoke apps and it's already 5 pm for the evening coffee ....in the middle to please my wife help her in cleaning the house , cut vegetables or then fetch vegetables spend time in the garden , then calling service guys for repairs and maintenance and then last but not the least promptly be at the door when the Amazon guy delivers a parcel every other day or couriers delivering some unwanted bank statements or some thing or other ...attend weekly a spiritual group on devotional songs etc ... And life has been going on for last few years ! So there is no phase 4 may be between phase 3 & 4
Definitely I agree that you still feel that you can do things better to get the juice out of retirement ..mmmm....
@@vijivijayaraghavan
@@vijivijayaraghavan Everyone is different. You are actually retired mentally doing what you love. You are a retired individual who happens to have a hobby he monetizes! I do too! But I get my phase one windows whenever I want!
It is a narrow world view that not working means being idle. But I think that worldview is the target audience of this talk -- people whose entire lives were defined by their work
I’ve been retired 14 years now and am still enjoying phase one of complete freedom.
Me too, though I feel guilty sometime that I shall do more . I guess it's becouse I always prioritized so much when it came to my personal life
Hey Carol, good for you !
Funny, I just posted pretty much the same thing before reading your comment..
Retirement is that period between fading out of relevance to fading out of existence, which is why is bloody terrifies me.
At 8 years into my retirement, I feel no loss at all and I still enjoy every day as much as the first. Living alone and having a broad range of interests, as well as a never-ending stream of ideas to explore, boredom has never been a problem for me. I still fondly love saying that, when you're retired, every day is Saturday. Having never identified myself by what I did for a living really makes a positive difference.
That’s what I say when people ask me how I like retirement. “How do you like Saturdays?”
May I ask? What do you mean by never identifying yourself with what you did for a living? Care to explain, please.
@@teresitaabad2962 Sure, Teresita. It's quite common, especially with men, to derive ther identity from their work. In other words, for example, I was an architectural/engineering draftsman for 31 years. That was what I did for a living, but that is not who or what I am. I have always had many other interests and I identify myself more with those other interests (artist, photographer, writer, etc) than I ever did as a draftsman. What I did for a living was not who I am. Men (some women, as well, I would imagine) are in the habit of answering the question, "what do you do?" with whatever their occupation is. This is especially true for professionals, like doctors or lawyers. So, many men's identity as a person becomes an extension of what they do for a living. When they retire, they go through a crisis of identity because what they are is wrapped up with what they do. It can be unbearable for some men, as their whole life IS what they do for a living. I've never had that problem. While I was making a living as a draftsman, I never answered the question, "what do you do?," or especially, "who are you?" with the name of my occupation. Now, in retirement, I think of myself as a photographer more than anything else, even though I've never made my income from photography.
@@teresitaabad2962 I would assume that he meant he didn't get his self worth from a job so when he left there was nothing to miss. 15 years now since I retired and I have pretty much purged 30 years of working from my memory. I never went back or talked to one person from that period. There's so many things to do in this world besides gauging yourself by how much money you made for somebody else.
Wish I was like you...I'm bored and went back to work parttime.
Excellent, excellent, excellent. I’m 73 and 3 years retired. My phase one was Covid 19 so missed the travel year and went straight into phase 2. It was a tough 2 years. Not only the loss of friendships, power, routine etc but the isolation of Covid was devastating. Got thru it and now I’m going to do my Phase 1 this year.
Thanks for you great perspective.
I wish you a wonder~filled amazing phase 1 year!!!
I retired two years ago. For me, the worst part, which I'm still dealing with, is the loss of recognition and ego food that my job gave me. I went from someone well known, respected, and relied upon, to ... a nobody. I used to do spectacular things and solve problems that other people couldn't do. Now I putter.
I’m there now. I was The Answer Man. I retired this summer and am having to figure out who I am again. Don’t want to end as a Grumpy Old Fart talking about The Glory Days.
I highly recommend finding an NGO or similar that you really care about and do something like that for them, for their sake and then it will end up being for your sake, too.
Exactly...
I agree 100 per cent. Once I was helpful to people, respected for what I did, and recognized as a community leader. Now I’m totally ignored. One of the most important things in life is to be useful to others. Now I’m totally ignored.
Very common feeling. Many of us wrestle with it.
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways.
Indeed, the recent market downturn serves as evidence that a vast majority of individuals lacked a sufficient understanding of the underlying financial dynamics at play.
@Margaret I need suggestions to assist me recover my portfolio and create more effective strategies because of the huge dips. How do I locate this coach?
@Margaret
Thank you very much for this. I'll follow her up now. Do you know if she has minimum and maximum amounts she works with?
I’m 76 and retired from teaching 13-18 year olds History seventeen years ago. I’ve been fortunate to enjoy good health. Retirement has been fulfilling and I’ve never been bored. I’ve done voluntary work with refugees and the Red Cross which has broadened my horizons considerably. I’ve lead tours of small groups to India and elsewhere and I still ride my motorbike to countries like Spain and Portugal. My greatest happiness comes from my grandchildren and family as well as friends. As time passes I’m all too aware how limited it is and am thankful for each day. Sit down and think what you want to do it then do it!
Phase 1: Vacation phase, lasts about 1 yr 3:45
Phase 2: Loss and lost, lose the big 5, routine/identity/relationships/purpose/power divorce/depression/fear/decline 4:48
Phase 3: Trial and error, searching for meaning, contribute, failure 6:35
Phase 4: Happy, reinvent, rewire, answer questions-mission, activities, accomplishments, service 8:38
Thanks for posting what should be in the introduction
The post this at beginning and no need for all the waisted air.
Or you go into total decline and end up in a subsidized care facility for the ageing
If I retired I would be sure to go straight into Phase 2, shortly followed Phase 3. Then to Phase 5.
Thank you.
Thank you. I came across this video by chance. I took early retirement 6 years ago. Phase 1 with a mix of phase 4 lasted up to last year when my wife of 40 years decided she wanted a divorce. That knocked me back and i now recognise that im in exactly what you describe as phase 2. When i retired i got involved school projects helping kids build airplanes. Being a pilot i felt it a good way to pass on my experience and knowledge. I found it very enjoyable and rewarding and the kids got a lot out of it, especially when i flew them in the aircraft they helped to build. I gave it all up last year. Going through the divorce has not only been a massive hit financially but emotionally as well. Ive almost become a recluse. This video has inspired me. Im going to get back out there and squeeze the juice. Im just about to turn 65, and i know what i want to do, so im going to get back into those projects. Hopefully i have time to do a lot of sqeezing.
Do your best Sir, it will surely be appreciated. God bless you.
Yes, please get out there and enjoy life! 65 is new 45!
The world needs your skills. Please pass them on.
I retired at age 53 and have been in phase one for the past four years. I'm sure phases 2-4 will happen sooner or later. They're penciled in on my schedule for whenever!
After a couple of weeks in phase 1, I apparently went directly to phase 4. I've been retired for 9 years, and none of it sounds like the story here. The key is probably to volunteer and have hobbies that let you connect with others before you retire.
As a mother of 4 who never had a career I did not put work as my value, I raised kids, became an entrepreneur and always did what I love doing, so none of this happened to me in retirement, which looks like my life at all stages, I think Americans put to much value on work rather than personal development
Of course they do, they were conditioned since childhood to do so.
Reminds me of this: If you do what you love, you will never work a day in your life.
@@alchobum So true.
I wonder how this differs for people who actually built a fulfilling life outside of work prior to retirement. If your work is the focus of your life and the source of your social ties, ending work may indeed be a loss. For many of us though, work is a trade off we make in order to pay for the life we actually intend to live. I suspect that retirement is much easier on those of us who don't see work as core to who we are because we won't have to spend time figuring out who we are outside of work.
Bingo!
I agree!
Well said! I have seen this in my friends who talk about retirement. The highly accomplished want to do the same thing. They cant think of anything else to do. It so consumed them ... That they cannot think of anything else. My father is the same way.
In my working life, I was busy both at work and at home. I had all bases covered. When I retired, I used to ask how I found the time to work. After a few years, phase 2 hit. What is my purpose? All this experience going to waste. Phase 3 is hard work but hard work brings results. Not in phase 4 yet, but phase 3 is going well. Like everything in life, retirement requires planning and commitment. Enjoy.
I truly believe Americans made their jobs their idols. Therefore, when they retire, they have no idea where to invest their time. So sad.
What's important to prepare for retirement is to develop interests in things outside of work so you know what you can do in Phase 4. If you are a workaholic and don't cultivate genuine interest in non-work endeavors, you'll flounder in Phase 4. In fact, if you're really passionate about something other than work, you can skip phases 1 through 3 and go directly into Phase 4. I developed a passion for making music with my ukulele, singing with a ukulele club, in the latter years of my work life. So when I finally quit my career, I found a senior center that had lots of activities but not ukulele. I started a ukulele club there and taught other seniors how to play and sing and have fun together while stimulating their mind, exercising their lungs, and retrieving their memories of songs they used to love listening to. I still get a lot of joy from teaching the seniors music with the little ukulele. If you don't have a clue about what you'll love doing in Phase 4, watch some videos on RUclips to explore the possibilities. That's how I got started with the ukulele.
It''s not about doing; it's about being.
A friend was about to retire from 35 years as a professor and was full of anxiety about what he was going to do. This is a man who played golf weekly, painted, tended a beautiful garden, had a wonderful marriage, 2 children with 3 grandchildren, and numerous other interests.
So I said to him, "It's not about what you are going to do; it's about who you're going to be.
Two years later I bumped into him and he was happily retired, doing all the things he had previously done. The difference was he had reshaped his identity.
Wow! That is exactly what happened to me. Phase one allowed me to lounge in my pajamas until I wanted to do something else. Phase two was more boredom than freedom. Phase three resulted in buying a bike to ride a mile and a half into town for lunch, then slowly adding a mile or two for a change of scenery. I met a couple of guys who were doing the same so we met for a bike ride to coffee. Each of them had a friend or two who wanted to come along, so I asked our local senior center if we could meet in their parking lot. They agreed to also be a sponsor on the condition that they could add it to their catalog. Phase four is that we have over 500 members from throughout the San Fransisco Bay area with four weekly riding groups, started other groups in nearby towns and led bike oriented vacations in ten states and six foreign countries.
I know I’ll live to be 84 because I have scheduled appointments until then. Maybe I should should schedule a two week vacation working in an office for a change of pace. My dad always said he was thinking of going back to work so he would have some spare time.
👍😄
You are my Hero
"I know I’ll live to be 84 because I have scheduled appointments until then" Hahaha, I love that remark.😀
I’m trying to plan for my retirement(I have none) and I understand that a recession is where many people make money. Someone I listened to on a podcast made a profit of $150K in less than a month. I'd appreciate any tips
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts
You’re right @Latham. My personal portfolio of approximately $550k took a big hit as well in April due to the crash. I quickly got in touch with a financial planner that devised a defensive strategy to protect and profit my portfolio this red season. I’ve made over $120k since then.
Who is this individual guiding you? I lost over $9 000 just last week, so I’m in dire need of a flnancial-planner.
@@alwaysbusy7230 The a dvisor I use is “ Dawn Marie Gatti ” she's verif iable, so you could just look her up.
Such a great tip, it was eas y to find your ha ndler. Did my due diligence on her before scheduling a ca ll with her. She seems proficient considering her ré sumé.
Very interesting, thank you. I would also say, In Phase 2, another loss can often be grief as well - losing an elderly parent, for example. Before they pass, there's also the stress and emotional pain of caring, POA, medical issues, placing in Care Homes, clearing and sorting the deceased's estate, feelings of guilt maybe, etc. Something new retirees in their 60s are likely to experience. I would say I am currently stuck in Phase 2 because of that.
I have been retired since 2003. It is all vacation to me. I spend 4 hours per day on-line, continuing my education, and keeping up-to-date on the latest science. With my freedom, I like to travel, and explore countries, and cultures, and making new friends. No phase two for me!
Exactly, if people need the identity from working then they should just keep working until the drop.
suuure, why did you click on the video then, LoL
I retired at fifty, fifteen years ago and am still in phase one. And I'm staying there.
Beauty is to remain quiet
@@sukhino4475 well from the looks of you . You've been talking way too much 🤣
@@justinatkinson5265
I didn't follow
@@sukhino4475 by
This is definitely a talk one should listen to several times over.
Joined the Army at 18. Retired from the army at 39. Retired as a MAJ, full pension, invested well. Real estate with rental homes that cash flow well. Money was never going to be an issue. I happen to love golf and tennis. I love routines, guess the army got me into that. I planned my retirement for years. The day I left active duty I got on a plane to the Philippines where I already had a home that I had built little by little for the previous 3 years. It was exactly what I wanted. Home is in a country club with a golf course, tennis courts. I get up in the morning have my coffee, go to the country club, relax talking to expats, play some basketball or tennis or a round of golf, afternoon I watch a little tv, in the evenings I go to restaurants. Shopping on weekends, weekly massages and foot spa and pedicures. I volunteer and give some lectures at both the local university and the military bases here to stay active and engaged. Meet with expats and am involved with the local VFW and the VA clinic to help veterans. I love my life in retirement at 42 and I don’t plan on working for a paycheck ever again. I live in tagaytay philippines in my dream home, have condos in Manila and Cebu, as well as rental properties in Texas and Florida. I have a property manager in the states and I pay my brother to handle the day to day stuff back in the US. I really have zero interest in ever going back to the US or back into the workforce… I’m not bored at all. It’s been 3 years but I can’t see myself getting tired of my life. You don’t have to reinvent yourself if you are comfortable in your own skin. Being a soldier for 21 years was not my identity it was a stage of my life. Now I’m in a different stage, you have to be happy in the moment and don’t let what you did for a living define you because then you will lose your identity when you stop working.
It's a bit long but read to the end.
I was in the health care profession for 35 years. The last 15 years I had to make myself available to staff 24/7. It was exhausting. I liked my profession, but when retirement came at 57 I was thrilled and with my retirement package I relaxed and enjoyed retirement for the next three months. One day my previous employer asked me to come back part time to help with a federal survey. I agreed to a part time position, which lasted 4 years. This time the jobs was less stressful and a bit fun at times. During this 4 year period I began exercising and bike riding. My bike was ill fitted for long relaxing bike rides. I read an article on how to build your own bike. In the article was a person who sold plans for making 6 custom bikes. The only problem is I needed to weld the bike parts together. Long story short: I purchased all the welding equipment needed, built many bikes and had a great daily exercise program. I also began making welding art. Lots of fun. The next phase of retirement was gardening which has given me a fun and rewarding hobby. While I talked mostly about things I have done in retirement the most rewarding has been strengthening my relationship with wife. We are happy together and enjoy each others company. If you are looking for a bonus in retirement your spouse maybe what you are looking for.
Excellent advice. My wife and I are three or so years out, depending on what happens with this current inflationary rise and related damages to our retirement funding.
I'm 79. This talk is okay as far as it goes, but it ignores the deeper issues that arise beyond phase 4. As our physical and/or mental health is lost, many of us become unable to do very much at all. This is when it becomes important to realize that we are not merely what we do, but what we did, and how we can leverage the limited energies and/or assets we still have left. The great difficulty here is that we may have millions and/or income that allows us to eat, live and do almost anything we wish, yet we are afraid to part with it before death. Ironically, we grow increasingly fearful of the future and reliant upon our own money to save us from any type of future discomfort, even as our future grows shorter and our assets grow larger and more valuable.
At this stage just writing an encouraging note to a grandchild or a brief letter to the editor may represent a full day's accomplishment, but it is something. When even such things become impossible, and perhaps much earlier, we must decide whether we deserve to keep breathing precious air and using up other valuable resources, or whether it is perhaps time to travel to someplace where euthanasia is legal while we still can. Ending life in this way and for these reasons should not be considered immoral, despite the pain it may cause others. They must weigh their own discomfort against the possibly much greater pain of younger people who may desperately need the resources we would have consumed.
The greatest final challenge is making sure that our resources go to people who need and deserve them most. Too many will their assets to pets and frivolous causes, ignoring struggling human beings and the future of the earth itself.
missed these stages, but it did take awhile to get used to getting a check every month without going to work. Am used to it now. After 20 years of retirement, I have no complaints. I have a great wife and life. Am blessed for sure.
Seamless: the way it should ideally be. Count your blessings b/c you are the exception to the norm.
Thanks for this talk. I’m a retired teacher now experiencing Phase 2. But the good news is, my wife and I moved to Portugal from the US.
I'm moving into phase 3, after 4 years of retirement. In 2019, at age 58, covid and corporate America pushed me into "early" retirement. I live on SSI $1,300/month, food stamps, and Medicaid. I'm happier than when I earned over $60k/year. I want a more meaningful and worthwhile life again, BUT only when I want to do it. I don't want commitment or schedules. I love being HOME.
I have been retired comfortably for 22 years. For me, the first phase of retirement is the urge to travel (including seeing long lost relatives), then after I get tired of traveling after two years, I would look for something to do. In my case, I wanted to go back to school and get an accounting degree. That didn't pan out since I couldn't keep up, so I just drifted around to find a place to settle down. This was my second phase and took seven years (I found a place to settle down). My third phase is paying attention to my health and my finances and is still ongoing. The fourth phase is sitting back and think of what you have done in your life. I am 90 years old.
90 awesome!
19+ years of phase I and still loving it!
I’m so pleased I watched this I retired 2 years ago at 55 I have been have stage 2 thoughts I’m relieved it’s normal !!!!!
Try growing a pet trained pup. More than anything else, it will make you feel you are wanted by this companion. Your age permits this.
I am retired now at 64 years of age. To say it has been a tough transition is accurate.
The first year was wow I miss my routine, some of my coworkers and the students that I worked with. I was also trying to deal with an arthritic knee that would need to be replaced. Chronic pain, the Covid and the loss of my identity was replacing my day. I felt sad and overwhelmed at times, however I learned I had to grieve!
I am in a great place now! My husband and I have reinvented ourselves and contribute to our community. We support our families as well.
Great video, Another factor to add is Do they spend a lot of time planning their financial future? The majority of people do not engage in planing for their future
True, It has never been harder to understand how to build your money after retirement than it is right now with the inflation. The impacts of the U.S. dollar's gain or fall on investments, in my opinion are complex
Opting for an investment advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 45% since Q2.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
The decision on when to pick an Adviser is a very personal one. I take guidance from Amber Angelyn O' Malley to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Thanks, I just googled Amber Angelyn O’ Malley and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
Love this!
Articulate! Emotional! Humorous!
Above all, it's about restarting one's life when "work" is over.
No work is over,you can never stop acting, your faculties continue to perform so never remain idle, the mind travels fast you need to reinvent
I retired 11 months ago. Still happily in phase 1.
My identity was never deeply imbedded with my day job, but rather with other things that don’t pay but give me a sense of value and purpose. I haven’t lost those.
I retired 7 years ago. Still in phase 1
Excellent analysis and presentation. I'm 71 and retired at age 60. The retirement was a forced self-imposed event however, due to pending severe health. Pending due to a failing liver that would require a "slower" pace and careful monitoring. Eventually as the realization of my future became clearer I settled into phase I ( sort of) but phase II followed after the first 2 years. Tried phase III but had "limited success". Cooking however lingered and fell over into phase 4. Started a RUclips cooking channel with my wife and enjoy it immensely (The Insecure Chef). Seeing children and grandchildren with both groups occasionally asking advice, made it clear that I'm still of use to myself and my family. Be patient, it takes time but God willing phase 4 will pop up one morning.
Oh, and by the way, received a liver transplant on Thanksgiving 2019 and feel better then ever. Good luck.
Good to hear about your improved health! Wishing you much success and happiness with your YT channel.
@@cristinaxo Thank you. It is appreciated.
I retired at 58, also because of a health matter(Failed back surgery, which left me with limited movement and chronic pain). 2 months after retirement my mother became chronically I'll with an assortment of ills(Intestinal bleed,Cancer,Stroke, Heart Attack). I cared for her on a daily basis 7 days a week until her death at age 90 in 2021. I now feel lost because of the loss of routine like the speaker mentioned not to mention the loss of my mother. Even though I was financially prepared, the state of the economy is a strain on me.
This is my favorite reply! Physical challenges disrupt a life differently than retiring when you are healthy. But I think that because of the obstacles, we appreciate our time very differently. Not everyone can walk, or drive, or even get out.
I retired at 60 through stress. I didnt expect it and am just accepting it now...sort of. I am beginning to plan to enjoy my time walking hobbies and grandkids. Its been 2 yrs for me to begin retirement now im 62
I'm happily retired, but contrary to the Dr.'s advice, I don't participate in service to others. I'm 67 and retired at 59. My three main occupations are: 1. Riding motorcycles around the USA, Canada and all over Latin America on long trips. 2. Driving my Corvette on racetracks, and 3. Intensively studying Spanish. Out of these three, riding motorcycles solo around Latin America each winter is the most rewarding and challenging. It's worked for me, and fortunately I saved and invested well in the stock market and real estate, so money isn't an issue regarding anything i want to do. I wish my wife had more interests (she's five years older than me), but she seems happy enough (I think), working as a volunteer on the local political scene and reading. We both exercise a lot also.
You my hero !!!
I retired last year at 59-1/2. I was a union construction worker. Fortunately I have a pension. Not a great pension but livable because I worked to be debt free as far as home ,cars or anything like that and of course savings. It’s been a year and been great. I stay busy because I’m hands on type and also people find out I’m handy. And well you get the picture lol. I love to fix things that people throw away bringing new life to something old. Making furniture or repairing it. Learning new things is always cool. I hope I never lose my curiosity. I haven’t been board since I was 12 I always say and don’t anticipate being that way anytime soon. Real power is deciding what you want to do today and at what pace. Everything else is gravy. Don’t let others decide what level of life you should be living. It’s your life do what makes you happy no matter what that may be.
On the very afternoon I retired from 45 years of engineering, I drove down to the Bridge to Excellence in my local town to become a tutor and mentor to at risk middle school and high school students. I also help run the cafeteria. That was three years ago. I spend my evenings brushing up on concepts of mathematics and English composition on RUclips. That very Monday at 5:00 pm, I ended my engineering career and started my tutoring and mentoring career.
Retired in 2010. There were so many things I left behind after college that I wanted to pick back up again, and so many things I learned during my career that I wanted to take in another direction, I pretty much skipped over the vacation period. I've been able to serve my daughter in her business, take tons of classes on Masterclass and Coursera, and now I'm in the middle of the most creative period of my life. But I did prepare for this part of it. About 10 years before I retired, I started taking art classes again to catch up on the technology and blow out the cobwebs. I took a year off a 55, traveled and volunteered to give myself a preview. The most important thing is to be prepared, to be interested in life and be engaged.
Aydede
you took a year off, that was the vacation part it seems
I am retired for 5 years now and I am still in phase 1. No end in sight. Maybe I was never much into career, contributing, success, being part of something, so I don't miss anything. It was nice while it lasted but it is past now. Only thing - I always thought I would travel a lot but I am not interested in all that trouble any more. And I get some minor aches now, the knee, then the back, then sleeping problems. I do like gardening and I have a dog now. That is my "squeezing out the juice of retirement": doing what I like, with nice company.
Thanks for your post. I am still working at age 61 and plan to continue for a few more years. I took comfort in your statement about "never much into career..." I feel the same! I work to live, not the other way around. My wife and I have recently purchased a very small, compact, motor home and have fallen in love with camping. So we hope to travel about the US when we do retire. We have some rental property that we will continue to work on and the rental income will help finance our retirement and keep us active. Thanks for sharing!
Same here. I loved my job in programming and system design. I never really wanted promotion, which would probably have meant stopping doing the job I was currently doing and loved. As I got older, my work colleagues seemed to be getting younger, so my plan was to start working as a contract programmer, earn a lot of money, save a lot of money and retire early. It worked! I retired at 52 and I am 75 now AND I am still in phase 1. I get up when I want, I go to bed when I want, I do what I want, when I want. I still spend a lot of time on the computer. There's always something new to learn. I like photography, play guitar and piano, gardening, DIY, walking, I travel. Life in phase 1 is a dream if you are of a certain mindset and are self sufficient. Oh by the way, I have been a widower since before retirement, so I'm not being selfish and ignoring anyone else's needs with my 'dream' lifestyle.
This was an interesting talk, but in no way did it represent my own personal experience of retirement.
Just retired a week ago and I believe that I will feel that same way as you do now but maybe it's because I'm in phase 1. I always felt that I would never ever run out of things to do or would fail to keep busy.
@@timmartin4952 About to turn 61 myself and I've been thinking a lot about retirement and finding my purpose for this next phase of life. I really like the motor home idea, although we have only camped one other time, and that was after we just got married. Good luck to you in your journey!
@@jeffb.2469 thank you sir. We rather surprised ourselves on “glamping”. Our kids will probably settle in different areas so it will be nice to travel to see them as well.
My wife and I retired in 2004 and in fairly short order wondered how we ever had time for jobs! We began our retirement with a small travel trailer and a road atlas. Since schedules were not an issue we made it up as we went. We had many memorable experiences in our several months on the road. Start some hobbies or better yet teach your self some new skills. We upgraded our sailing skills and embarked on coastal cruising. (more great experiences). We got involve in politics. The party of your choice can always use the help. It gives you lots of motivation to hone your knowledge of the issues of the day. We engaged in sustainable farming for a while. We knew just about nothing about growing vegetables. We (my wife and I ) tackled farming with gusto, made many mistakes and learned as we went. Our endeavors evolved into selling our produce locally to enthusiastic customers. Disaster struck when I was in an accident that resulted in a life altering stroke. Recovery was difficult and slow, aided by my loving wife. It took years before I could end frequent medical attention. Once we reached that milestone we bought a small RV and hit the road. Our travels took us coast to coast and many points in between. I guess my point is that life (retirement ) is what you make it. . At 78, arthritis is affecting my ankles so, we are going to supplement hiking on our travels with an all terrain vehicle. For me, life is an infinite buffet of new things to learn and do. We haven't had time for phases in our retirement.
Congratulations! You are doing it right.
exactly what my dad said when he retired. i dont know how i fit work in i am so busy now. doing eberything he liked to do.
That's my favorite tale!Thanks for sharing!!!
Well said. Go into retirement with a plan to move toward phase 4 and enjoy the trials and tribulations along the way.I have 4 more work days as a surgeon!
Happy Retirement, Dr. Lewis! And Merry Christmas!
Have you adjusted to your new-found freedom? Where does one go after being a surgeon? Travel? Trying to figure it out after retiring from life on the road. Strange to not be “going somewhere.”
I've learned from watching my grandparents, parents, their friends... that you have to stay active (yeah, I know it's cliché). But to them, moving into a gated community or someplace where the yard work and maintenance tasks are all taken care of for you was the ultimate picture of retirement. Well, after the traveling got old and they had done all the things you dream of doing after you retire, their days were usually spend sitting in the ez-chair or on the couch watching tv, trying to find something to fill their day while their mental and physical fitness slowly faded. I also learned from watching and remembering my grandparents who lived on a farm. Although they sold the farm, they still lived in the same house and their days were spent outside tending to the everyday chores and tasks that needed to be done. Now they had their stint dabbing in painting, ,writing... but, their days were not spent sitting most if not all day and they lived into their 90's. Although they had their share of the health issues that come with aging, they kept both their mental and physical abilities strong enough to live on their own until they passed...dying within 24 hours of each other.
I've started learning to play the piano. The piano is the King of all instruments, it always sounds different, loud, quiet, laughing or crying. A graceful violin, a gentle flute, an important double bass and little bells sound on it. You can express your feelings and emotions and it always gives people joy.
Excellent analysis of retired life👍👍
Ten years now and it's effin' great but then I was always happy looking out the window watching the world go by, the 4 dogs, 6 cats and 1 wife stop any chance of "boredom" creeping in too...
Your house must smell really bad
@@cornstar1253 : Yer the Mrs's clout is rank... ... ...
My husband retired almost three years ago, and I literally have to limit him to about 50 hours a week of manual work around the house - we now have a deal that he can work on the house and garden while I'm working, then we take the dog for a walk together, and evenings and weekends need to be relaxing! We've gotten a new roof, new windows, new garage doors, new siding - all in the past three years. He has built a raised bed garden that we now eat from daily. When he runs out of projects, he may hit one of these phases. I just hope it's phase 4!
Please send him to my house. Nothing has been kept up since my husband died!!!
My husband is retiring next week. Thanks for the advice. Your husband sounds like mine. I'm worried that my husband will just spend all day, everyday working at home. Good idea to set limits.
I'm almost 60 and I have been watching a lot of videos about retirement. This has been the best one yet! THANK YOU!
That's pretty early if you think about possibly living to 90 or more, but if you have a lot of friends and other interests in your life-enjoy!
I think what you did as a job affects how you retire. I was a cop for 30 years and retired at 56. I got bored. I tried a part time job but lasted 3 months as it wasn’t fulfilling enough. An opportunity to rejoin as a civilian investigator came up and i took it. I realised i wasn’t ready to retire. I’m going to review it again at 65.
I'm a bit of a loner and the later part of my work life, a couple decades worth were heavy IN YER FACE roles.
People constantly, stuff like recruiting doctors, helping run local hospital, PR, etc. Thus, when I escaped....it think I was happy staying in phase 1...still am, now coming up on ten years. Still fine, no expectations of myself or others, I not miss a routine.
I am 75 years old and 10 years into retirement. All of it spent in phase 1 with a smattering of phase 3. After a working and personal life of service to others, I'm done with that! I'm the focus of my 'service' now and lovin' every minute of it! But I am glad you have found a system that works for yourself, too
I’ve been retired 16 years and consider still in phase one and still loving travel.
I’m in phase 2, and this talk was so helpful. Thank you kind sir.
You are in phase 67. Or maybe 9 .
I hope you use phase two for some profound reflection and enjoy the challenges of phase three.
There is a pot of gold at the end of the 🌈
Hazel Wolf was an unknown legal secretary when she retired in her sixties. When she died at 101, the Governor of the State of Washington attended her memorial service. She had a high school named after her, a film festival named after her and a bird sanctuary carried her name. If you want to know more, look up the online book titled "Badass women of the Pacific Northwest". She made something of her retirement.
Hello, I Retired in Finland 55. Now I am 58.
Later I Retired in Thailand.
Thank You for Video.
Retired 4 You.
I retired at 55, 4 years now, and while I think this presentation is excellent, think that retirement is nothing to be scared of. My experience is that you are ambitious at your own pace. I personally think it takes about 2 years to change and no longer identify with your old career. You forget about your old rivalries and past measures of success and learn to form a new identity that is much more suited to your personality. I would say follow your interests and you will be far busier than ever - but only as much as you choose. There are still days where you can feel overwhelmed and perhaps lonely but you can reach out and fix it pretty quick - and it's different when its up to you how you spend your day. I have an airbnb to keep me busy and engaged. Its a great solution if you have a property and a little time but don't want to be accountable to a boss any longer. I only wish I was able to retire about 10 years earlier! No regrets what so ever!
Nice video!! Very engaging.
Rich people have assets, which are inflation proof. On the other hand, earned income is vulnerable to inflation. That's why the rich get richer in inflationary environments. An example, wealthy person may own several homes, rental properties(Commercial/Residential), businesses, productive land, equities, bonds, etc. The average W2 employee gets taxed the highest rate, they own almost no productive assets.
>Inflation is killing my budget and my salary. I can't invest anymore and it seems like I will need to sell all of my risk assets to keep my head above the water this year.
Inflation is eating up the Economy but, the rise and fall of much of finance depends on investment and risk taking, that's a fact.
Investment on risk assets (stocks, crypto, etc) is easier with proper guidance, especially from a proffessional it really helps reduce the chances of running into losses
I had this experience during the last economic downturn and thought I had lost everything but thanks to Ms. Jennifer Marie Ferguson who managed my portfolio, I recovered all my losses.
Stop managing your portfolio and write to her since you keep losing money, she's a trading pro. She will help you win passively.