I just turned 58 and awfully late to investing with barely any portfolio asides my 401k. I have a decent amount of cash saved up but with debt and inflation, I’m getting worried about retirement. How do I best optimize my savings of over $ 50k?
Retirement is now more difficult than it was in the past, it’s all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Agreed. I’ve always delegated my excesses to an advisor, since suffering major portfolio loss early 2022. I’m now semi-retired and only work 7.5 hours a week with barely 25% short of my $1m retirement goal after subsequent investments to date.
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s hasn’t worked out. Can you recommend a standard advisor? I could really use some help.
My CFA, Joseph Nick Cahill is a renowned figure in his field. I recommend searching his name online; you’ll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Spend all day Monday to Friday doing something you hate so you can spend the weekends doing chores while waiting for your two week vacation that you pay for on credit so you can retire in 50 years, if you live that long, which for most people means just about getting by while they wait to die. And finally after all that, your entire lifes earnings go on death care and gov taxes. Madness. I gave it all up at age 49 and now I'm "retired" at 55 with no debts, no one to answer to and master of my own destiny
@@TomScryleus I am watching your journey with interest, because you really are on the same trajectory I was, which was to realise that it was all a scam while you are young enough to do something about it. Getting off the treadmill is not easy but it certainly is worth it! The first key being pretty much what you said: Stop buying stuff you don't need. The second key is that it really is a journey not a destination. The third key is realising that "retirement" really means doing what you want to do because you want to do it, not because you have to. Then it ceases to be work and becomes a passion you happen to make sufficient income from. I can honestly say getting to the point where your time is almost entirely yours to do with as you please is worth the battle!
2-week vacation sounds nice. My company doesn't even have that. My managers' logic is that they're too afraid you'll look for another job so the maximum number of days you can go on leave is 3 days (you can max it out to 5 with the weekends).
@@turtleanton6539Yeah that’s a pretty boring and defensive life like almost a scared person mindest but I can understand the economy doesn’t give you any other option
Retirement is what you make it. Make sure you have no bills and can live frugally. Eat healthy and exercise. I am low income living on social security. I have a few dollars to splurge if I want to. I make this time to relax, travel, do hobbies, etc.
I like how you think, and I agree 100% But there is a part of me that says you deserve better. you know what I mean? I congratulate you on how you adapt to your system though. I envy you, and I want your lifestyle.
In the Southern US there is a grocery store chain called Winn Dixie. They are absolutely infamous about firing managers before they could retire. I only knew ONE butchery manager, who was actually trained by my grandfather, who was able to retire early when he went blind in his late 50s. Government and corporations work hand in hand to keep you enslaved to the system.
My father went to work every day for more than 40 years and as far as I could see, he truly hated his Job more than anything, all he ever talked about was to retire, to reach 60 years of age and becoming eligible for retirement, that was his only goal in life basically, the only thing that was driving him forward. He retired a couple of years ago, thus reaching his life goal. Now he is more miserable than ever, his pension is not very big and he doesn't know what to do with all the free time, but not much money. So be careful what you wish for, it May just come that your so called dreams come True.
@@TomScryleus when government pensions were created they were never meant to be claimed for very long, retire at 60, claim until 65😢 after working for 50 years. Increasing life expectancy means someone could easily live 20 years outside of work. The increasing life expectancy did not come with increasing quality of life - the end being a long, tedious decline of health and capacity. I can easily imagine my generation retiring at 75+
Unless you invest every penny you can save, you end up like that. At least my perspective at 41. I don't bet my later years on ANY form of outside help, no pension, no social security, nothing. Only my portfolio.
I know plenty who worked until their 50s/60s only to die of a heart attack/stroke just few months into retirement or before it. Life is unpredictable already and slaving away our prime healthy years doesnt makes any sense. Another great and insightful video Tom, best wishes!
One of the great errors of Western countries was to abandon multigenerational living. Generations of families living together for economic and emotional well-being. Instead we choose to lower our standards of living, raising our stress levels while complaining about loneliness and no purpose in life.
Some see it as error. The elite however disagrees, and they planed that for that to happen in other non-Western countries too. One World Government. new world order
@@flyingpuma9729My dad was a boomer and he was one selfish son of a bitch, he basically never gave any of his children a single thing but always tried to use his children for free labor, the moment i turned 18 he kicked me out and i had to join the military and cant afford my own house, this world is truly evil, my father had it so much easier than me too.
I am 57yrs old. I am retiring at the end of this year. This guy has a lot of good points. The entire system is based on turning individuals into 30 or 40 year worker bees, enriching the already rich.
@@TomScryleus I have spoken to a few financial planners. I am in the midst of putting one together now. I realize now, that there are some things that I should have done, years ago. I do have some ideas that I want to put in place, to generate passive income. Thanks for asking.
Been saving money my whole life. Haven't been on vacation much. Haven't bought too many expensive things. Still ain't got enough money to get a damn one bedroom flat so I can rent out when I retire. The world is rigged so that the rich and powerful may live long and happy lives while walking on the corpses of the many.
Thanks! One of my mentors retired on January 31 of this year. He died of a massive heart attack on February 13. I just found out on March 13. I sincerely hope that he didn't pass due to built-up stress. It hurts. I hope that people who are watching will not fall for the lies. It's a scam. 😔
My father died at the age of 63, he worked 60-80 hours a week for 43 years long, he died by cancer and I saw him die when I was 19 year old, I would rather sleep on the streets than up as my dad.
@@TomScryleus And my mother spent it almost everything from his dead insurance on holidays, sauna's, etc. And I have also 2 brothers, I know I don't wanna get old, I know I end up like my dad, so I did a vesectomy at the age of 24, I am now 27 and no marriage, I just wanna be alone until max my 30's, because 30's is a nice age to have a "long" sleep.
Working every day of my life and wasting my prime years has been the source of my depression for almost a decade now and it has only gotten worse. At least it has allowed me to pursue my own endeavors so I can try to build the life I want and escape the wage slave trap. Unfortunately, it hasn't panned out, but I am going to see a therapist about it, but I am skeptical they can't help me (although I do advocate therapy can help, I just feel like it won't help my situation). If money weren't an issue I would Twitch and RUclips for the rest of my life as I enjoy it. Great video btw!
Glad to hear that you are talking about retirement. I too think that true fulfillment cannot be postphoned indefinitely! It is a trap because we never know what will happen. The time to live is now. 👍🏾😊
Yepp. And I certainly know from the experience with my father in law. Good thing about him is he actually did life like if there was no tomorrow. I do things differently, im waiting for my life to start. Its weird…
I can relate. My grandmother had to undergo several surgeries, each more expensive than the last, and unfortunately, some didn't yield the desired results. It's eye-opening how quickly medical expenses can drain retirement savings.
Medical expenses can indeed be a significant concern. It's crucial to plan for such contingencies and have a financial cushion to cover unexpected costs. Has anyone explored short-term investments as a way to supplement retirement income?
This hits hard, Tomas. I'm living at work 6-10 or 7-10, getting scalped on taxes, my annuity deduction, my pension contributions, and my voluntary IRA contributions, then I have to live off the scraps left of my time and money left behind. Work my nuts off to support everyone but me.
Is retirement really a carrot to dangle in front of us? Is it really a reward? Or is it more "your life only belongs to you when you are too old, frail and broken to enjoy it. And only because you are too old to be of use of us"? Is it a reward or is it the final act of dominance toward us?
I just mean that most people see it as a time when they will finally be able to enjoy life for all their hard work. Thats how I always used to see it anyway.
@@TomScryleus yeah, you have seen through this. This was basically a rhetoric question for people who haven't really thought about it yet. It's interesting how people these days simply assume that they will reach that point. To me this attitude feels like hubris.
I realized in my 40s that I wasn’t going to have a nest egg so I worked at working less making more, 3 12 hour shifts a week. I sold all of the excess. In September I will retire at 62 and able to afford to do it. Live in less and enjoy your life.
I have worked on the retirement industry in America for 4 years. It doesn’t work for regular workers. I don’t trust it myself. Thank you for making this video!
The conquest of aging in this century, will also put a damper on traditional retirement routes, especially social security. Regarding financial institutions and advisors, a quote by Nassim Taleb - "Don't take financial advice from anyone who works for a living."
thank you for the superthanks. :) The financial advisor is truly weird. You know, I can't even tell people how to invest, because Im not a licenced investment adviser. Even if I was a multibillionarie, I still cant tell people that. But its fine to take financial advice from a 9-5 financial adviser. So weird... :)
I think you did a GOOD JOB with this commentary…. I’m bumping up against retirement….. 1 month shy of 30 years …. Not sure if I’m ready for that but where I work is going down to 1 shift in October, So possibly I will do sap then .. I do have a decent amount saved but the thought of only receiving a pension/ social security equivalent to maybe a week and a 1/2 of my normal salary A daunting thought even though I consider I live rather frugally
No its not depressing,it's real life,I personally don't look to far ahead not going to spend my time worrying about crap,as long as I have my health,roof over my head,and some food in the fridge that will do me.keep your vids coming my man!😊
I quit my job two weeks ago and I feel so much better in every way. I have lots and lots of things to do that are much more enjoyable to me than listening to my ex-boss nagging me to work harder after repeatedly lying to me about promotion and salary increases. I've never understood the perspective of "he has nothing to do". For me working a job is an obstacle to do one of the many things I enjoy doing. Oh and doing nothing is one of the things I enjoy the most. Also you create bonds with ppl and then watch them get destroyed by the company in different ways. It's much better to create such bonds outside of a corporate setting.
I just kind of retired, but I don't feel retired and don't want to describe myself that way. "I quit wage slavery" is a much more perfectly accurate way to describe it!
Same here. I am only 25 and have been aggressively saving from 18, I just can't see myself working for the next 30+ years of my life. To add to this, I have autism and get burnt out in certain jobs very easily. I currently do office work and I don't hate my job but I have no intention of sitting behind a desk forever. Sometimes I feel everything around me goes by so fast and I wish time would slow down.
I live inEngland and I’m 28 and im thinking of buying a caravan and just living for £250 for rent and electric. There’s no way I can carry on working in a warehouse on nights not being able to afford bills. What’s the point of it?
@@mrmanio4935 dude,it’s really hard for me and all becauee the job pays good for unskilled work. Been here 6 years now and my back and soul are broke 😂
Bro that's what I've been saying for a long time and people look at me like I'd be crazy for that. We are forced to pay a large part of our time and our finances into systems that promise us security and benefit from this coercion but deny us the promised benefits.
Great content and perspective, really enjoying your channel Tom. Love the AI prompt development too. I reduced my out goings to the absolute minimum in order to 'retire' at 49, I now focus on managing my wealth in order to create passive income. Luckily I've never been materialistic and chose a GF who is similar. Once people realise that it's the status game they play keeping them from retiring, many wake up and shun it, however status is primal, from men requiring it (and wealth) in order to attract a woman, and for woman to compete with other females for the best men. Keep the content flowing.
Retirement is wasted on most old people, they hate the idea of not working. I think we need to shake off protestant work ethic that somehow work purifies you
@@eternalabundance39i cant wrap my head around this concept of boredom and being bored if you're not working at a job. Empty headed smooth brains get bored. I just had 3 weeks off work from an injury, spent it at home. I wasn't bored one second and thise 3 weeks seemed like 3 days. I could retire tomorrow, never work a job again, and never be bored for the next 40 years.
I think a bit differently. I am trying to balance it. Most jobs are toxic. If you find one that isn't stick with it. I work in non-profit sector from home. It's great for the most part as jobs go. I do save for retirement but I wouldn't risk leaving this job now. I'm too lucky to have found it. I live in a foreign county and there's a lot of Europeans at my work. I realized because the job aligns more with European values.
I bought too much stuff. That is one thing I really regret but I did buy used, discount or grab deals as I knew I had an issue. Even so, stuff is annoying and takes up space. There is lot of wisdom in this video. You have to save and invest so buy a few high quality items. Buy experiences, which can be value for money.
I'm glad you posted this video Tom. Even though I'm on disability pension in the US, I still do side work and investing. Granted, I purposely don't make enough to lose my Medicaid (my treatments would be unaffordable otherwise). But I do things like the stock market, cryptos, and side hustles like writing. I purposely keep myself busier now in my 40s than my 20s. I may be on disability, but I still manage to put some of my money to work.
I haven't ever bought a new vehicle. I have an older one I can work on myself and I keep it running good. House is paid for and no major bills. 250K a year going into my upcoming escape!
I have a dad who’s in his mid 50s and he’s sole dependent on seeing his social Security but he already drank most of his life savings away. He’s been sober for over a year, but when he dies, I’ll have nothing to inherit from him because he spent it all on booze and cigarettes. These are normally questions I would ask my therapist, but here it is for the whole Internet to see.
Where I live, many that are old enough to retire still work part time and few get to fully retire. A part time job is the new retirement even if u do a 401k plan from ur work. I agree with ur message, passive income is key to gaining freedom.
The other part of it is no one seems to realize it that by contributing to the stock market we are enslaving each other. That’s directly tied to our wage slavery. We all complain about having to enrich shareholders and forget we ARE the shareholders to someone else, someone who really deserves those profits for actually doing the work. There is no such thing as wealth without work. Wherever it exists, you can be sure somewhere else there is work without wealth.
I am 65 and l agree with a lot of things you said in your video. I think more people should endeavour to make passive income. I live in the UK and if you live only on our state pension it is not enough to survive on.
Excellent video, which should be seen by those entering the workforce! To those in the USA who retired early, how do you manage the medical insurance gap between now and when the medicare kicks in? How much do you pay for one person per year? Medical bills in usa can really do one under in a blink of an eye....
The goal should be flexibility. This is acheived by living a frugal lifestyle and paying off all assets. Payoff your house, drive a used car. Pay it off and give yourself leverage. Work by the hour for a higher wage and demand overtime pay as soon as 40 hours is hit..... this includes drive time.
So, I've watched a couple of your videos and I cannot agree more with your philosophy. In my retirement, I'm working for myself on my property, keep busy staving off mental and physical decline. I have a very modest pension which takes advantage of maximizing social benefits and I live within my means, sometimes struggling to make ends meet, but nonetheless getting by. I am off grid living with 3 cats and nature. It's not 100% what I imagined at this point in my life but I'm happy.
Are you working to retire some day? What if that retirement never happens... Whar are your thoughts on this. Join the discussion. I want to know what you think.
We must strive for happiness in the present moment and in our present situation. I need to work on this because I often plan and dream of retiring in ten years but in al likelihood the next ten years will be the best ten I have left.
I'm the silent generation that not only works hard but enjoyed working hard. I seen the Next Generation ahead of me (Boomers) make good money and at the same waste good money. 45% of Boomers have no retirement savings at all, among the 55% who do have savings 28% have less than $100,000 saved for retirement. Taught their Gen X children and Millennial grandchildren. I always had a regular job and side hustle job/ jobs. I took the time to learn how to invest in the stock market. It takes an 8th grade education, dedication, and above all common sense to become a millionaire (at least) in the stock market over the years that you worked. Notice I said years, unless you get lucky with your common sense. I look at Utube as a side Hustle. All that being said I am Not saying that you can't become very wealthy overnight, you can also win the lottery overnight. PS: if someone worked at a job they didn't like for 30 years, but at the same time looked forward to retire, then died the same day that they retired. The only people that see that as a problem are the people who are living. And if he played his cards right and believed in the afterlife he's living the ultimate retirement. ......ski
Tom, my man, I am just on such a long vacation. Quit my old Job, saved good money and take time to enjoy life. Your Videos gave me a bit motivation. BTW, I'm a Consultant too))
I was wondering if you watched the movie Vivarium. It is a weird sci fi horror movie a bit in the style of David Lynch. One of the themes is how we all conform with society rules like study, go to college, buy a house in a residential nice are, make children, consume and die. There are also other themes. I think you might find it interesting.
I did... to me that was a difficult movie to watch. I could feel the tension of the people trapped in that house. and then the baby... jikes... this is why I don't have kids.. ;)
@@TomScryleus Anyway Fight Club that you mentioned in a video also changes my perspective on many things in particular the IKEA scene and all the thoughts on our consumeristic society.
I checked out your channel. Try making better thumbnails and clickbaity titles. If you want the views, there is no way of getting around that :( Also for the production, I would recommend better lighting conditions. The audio is fine. But the video quality can improve greatly if you have good lighting (regardless of camera).
Most people have no choice but to work, it's not as simple as you make out to stop working, good luck trying to escape working if you're on minimum wage
Everything that Tom has stated are Truths! I have and am living this "Truth". Retirement is not a "Vacation". It is a Job, a Career, it is Work! Tom states that he will never Retire and this is a good approach. But since Retirement is a Job, change Jobs ASAP!
In the U.S., it’s depressing. I do believe in living below my means, and I would prefer to work a three day week. I know that I would like to have passive income. I wonder when I come of age, would my partner and I rent our tiny home and live in an independent living senior community? The cost of healthcare and housing in the US is very expensive and most rely on an employer for their healthcare - which is very expensive. Thank you for your content.
You're the philosophical version of the sunglasses from John Carpenter's "They Live". You're showing us all the synaptic garbage and monsters around us...
Thing is... I live life now. I might have no prospects at hand now, but i also have zero responsibilities or debts at age 24. I've had numerous jobs, i moved out from home twice, have a driving license had an own car and never took a liking to working. Always hated it and liked to go on sick leave occasionally. Didn't need much of a reason. I don't plan on staying a NEET long-term though and i actually have a plan. Though it might be difficult to get some sort of passive income started with it.
Amen! So many people live/work to retire...and never get there! Also, I'm happy to see Bitcoin where it is. I'm definitely going to just let it sit, but I'm tempted to sell. Looking forward to more camera review vids!?
When it comes to collecting SSD, everyone’s financial situation is different. Some people have inheritances that make it easier to live comfortably in old age, but most do not. All the older folks I know who have retired haven't had any issues collecting SSD. Some even collect benefits for their deceased spouses.
Interesting video. I’m 41 and have no hopes of ever seeing a single öre (penny) of my pension. Our generation needs to reconsider what security means to us. For me it’s shelter and food. Between 2020-2022 Sweden alone lost 4% of its farmers according to recent statistics. The bulk category being mixed livestock farms which are the best at cycling nutrients and producing food with minimal dependance on inputs from the petro-chemical industry. Looking out across Europe and the US the trend is clear. Food production is being concentrated in the hands of very powerful corporations who have no consideration for protecting environments, ecosystems or local communities. The people who have to pay the higher price for cheap food are not only future generations but us when we get older. Climate change will make it near impossible to produce winter greens in Spain and truck to Northern Europe, probably within our lifetime. Farmers, mostly conventional, have had enough of being squeezed under the thumb of corporations running enormous profits selling expensive and polluting inputs to farmers, and the rigged system of the retailers in the output end who are racing farmers to the bottom in their unethical drive from cheap food. With more and more people joining the urban lifestyle across the world food with fewer and fewer farmers sustaining them it’s not an equation I think we can rely on will work. Artificial fertilizer, produced from natural gas, is directly responsible for 44% of the global population and since yields are dropping and farmers need to add more and more in order to produce the same amount this is not something we can rely on either. It’s a bummer but also a reality we need to face so we can know how to orient ourselves around what really provides us with a sense of future security. So when I’m a pensioner I see myself doing a lot of gardening, keeping chickens and making bread 😂 Doesn’t sound too bad in my view. Great video as always. Keep em coming.
Public US schools were created by corporations that hired child labors & needed to do something with them when it became illegal...so...that ain't gonna happen.
My idea is the following: Find better ways to make money constantly. If you can't don't spend it stupidly. But also don't freak out, but patient and level headed. Just don't trust the retirement lie.
@@TomScryleus "I like that!" yeah thx. I'm thinking about the whole video, after a day or two and I realized something. There is this thing you talked about "they don't make it possible to work less". This is so deep and nuanced beyond the "compensation" that would allow you to make less hours. It's actually not welcomed to scale back the work according to your situation. The whole society create an economic machine that is incapable of letting the worker scale. You are more likely to be replaced by someone who does the maximum hours and overtime. You will have to fight your bosses and end up in a situation where it creates a "bad look" for you. You have to think about that. You are not valued by the work you are able to do, but by the maximum work the employer is legally allowed to squeeze out of you. So it made me think about "better ways to make money" and investing also in better ways. What would then be better work? Not necessarily work that makes MORE money (though it could), but work where you can "work as much as you want" (or feel able to give) and work you "like to come back to". These things are two fantasy metrics most people dream of and very few actually ever have. But it's good to know which horizon is the right to go for.
Interesting video which made me re-think some of my assumptions. However can’t agree with never retiring. After 25 years of wage slave I will be retiring soon. Perhaps it is risky but it’s worth it. Life is a finite resource and I am going to make the most of my second half of life 😁
For those with the conviction and the fortitude to know what they are worth - it is possible to work less, and it often makes sense to - even in corporate environments. And by doing so - you feel much less like you want to retire. But you have to be the absolute highest value to do that (I'm not talking exec level) - basically have the output that allows you leverage to say 'You know, I want to work part time - three days per week max, or I go do something else'. Because of progressive taxation, it often makes financial sense to do this too. The marginal income gain of the extra 2 days can be very little. Once past a certain income level, combining this practice with thoughtful living means you can end up financially better off by doing so; more 'free' time means more time to organise and set up your own systems. I talk from a place of privilege - but the type of people who watch these videos are also likely smart enough to find their leverage.
@@TomScryleus 🤣 don't get me wrong - I still think my wage is nowhere near what I'm worth, and i struggle with that knowledge regardless! But life is a lot more palatable 👍
"Maybe he was just unlucky" ... yeah you live your whole life for the lies of the masses and when you need help you all of sudden can be "too unlucky" to get something back in return. Just think about the whole arrangement. The whole system relies on the fact that you forgo all your opportunities and in the end support isn't even guaranteed.
yes.. There were also a lot of mistakes done by the system in that case. Where we could go after them legally. But my family decided not to do that. too painful, and it wont bring him back.
The crazy 🤪 thing is that nothing has to be the way that it is. The powers that be specifically designed it as such. After all, it's not as if older people consume more because they don't. Their biggest cost will be medical and the forever increasing rents or property taxes. Whatever the case, I refuse to work a single day more for any corporation than I have to. I'll resort to homelessness if that's what it takes. Besides, I have no idea where all the jobs for geriatrics are gonna come from. Aren't there enough people sitting around staring at computer screens? They want control of your time. There isn't much significant work now that we've shipped so much of manufacturing to China. Smh! 😳
I understand what you're saying overall, but a nitpick - the 7% number is an average over the lifetime of the S&P 500 index fund. It doesn't mean that ever year will have a 7% increase, it means that, in the past, the years that lost were ultimately negatated by the years that won, yielding an average return of 7%
I know what the 7 % means :) I do explain it in the video, thats its an average, but thats not how banks sell it. you can log into banks and on their main page, you can test how much return you would get if you put in 1000 dollars etc. And its always set to 7%. Like if thats reality.
When I think of retirement, I think of my father, robbed of his retirement by early onset alzheimers. I cannot go out like him, that nightmare disintegration, those pallative care bills costing my mother 12k/ month that just dragged on and on even though they chemically lobotomized him. Wirh a pattern stretching back 3-5 generations, it would be the height of foolishness to think anything else is waiting for me. I will have to make the hard choice while I still have the agency to do so. That means I only have 20 years left, and then my retirment will be 4.49 inches long.
Now's a really lousy moment to invest in stocks, it's like 1999 or 2007, but it's really the only way to go. The living god a company bows down to is the SHAREHOLDER. As an employee, you're the lowest form of life to them, somewhere between amoeba and cockroach...
🔥MY LATEST VIDEO!!
I was fired for quiet quitting → ruclips.net/video/4DyORgWjsLM/видео.htmlsi=kNFCbeJewvaNJua0
I just turned 58 and awfully late to investing with barely any portfolio asides my 401k. I have a decent amount of cash saved up but with debt and inflation, I’m getting worried about retirement. How do I best optimize my savings of over $ 50k?
Retirement is now more difficult than it was in the past, it’s all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
@@RitaMeyers-oc4leAgreed
Agreed. I’ve always delegated my excesses to an advisor, since suffering major portfolio loss early 2022. I’m now semi-retired and only work 7.5 hours a week with barely 25% short of my $1m retirement goal after subsequent investments to date.
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s hasn’t worked out. Can you recommend a standard advisor? I could really use some help.
My CFA, Joseph Nick Cahill is a renowned figure in his field. I recommend searching his name online; you’ll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Spend all day Monday to Friday doing something you hate so you can spend the weekends doing chores while waiting for your two week vacation that you pay for on credit so you can retire in 50 years, if you live that long, which for most people means just about getting by while they wait to die. And finally after all that, your entire lifes earnings go on death care and gov taxes. Madness.
I gave it all up at age 49 and now I'm "retired" at 55 with no debts, no one to answer to and master of my own destiny
exactly... can't believe so many people just accept that.
@@TomScryleus I am watching your journey with interest, because you really are on the same trajectory I was, which was to realise that it was all a scam while you are young enough to do something about it. Getting off the treadmill is not easy but it certainly is worth it!
The first key being pretty much what you said: Stop buying stuff you don't need.
The second key is that it really is a journey not a destination.
The third key is realising that "retirement" really means doing what you want to do because you want to do it, not because you have to. Then it ceases to be work and becomes a passion you happen to make sufficient income from.
I can honestly say getting to the point where your time is almost entirely yours to do with as you please is worth the battle!
I have to hide myself to not spend any money. Because why would a working class want to “enjoy” life. They’re not suppose too.
Good for you but for many getting into that position is a pipedream
2-week vacation sounds nice. My company doesn't even have that. My managers' logic is that they're too afraid you'll look for another job so the maximum number of days you can go on leave is 3 days (you can max it out to 5 with the weekends).
Living at home working part time and being minimalist. All young men should aspire to this. This age is almost over:
Thats my dream life.
Yes ind33d
@@TomScryleusim living it. It is not exciting but peaceful
@@turtleanton6539Yeah that’s a pretty boring and defensive life like almost a scared person mindest but I can understand the economy doesn’t give you any other option
"A job is a drug they give you to give up on your dreams." ~Kevin O'leary
Oh I like that one.
Keep em coming.
I write these down.
Retirement is what you make it. Make sure you have no bills and can live frugally. Eat healthy and exercise. I am low income living on social security. I have a few dollars to splurge if I want to. I make this time to relax, travel, do hobbies, etc.
I like how you think, and I agree 100%
But there is a part of me that says you deserve better.
you know what I mean? I congratulate you on how you adapt to your system though. I envy you, and I want your lifestyle.
In the Southern US there is a grocery store chain called Winn Dixie. They are absolutely infamous about firing managers before they could retire. I only knew ONE butchery manager, who was actually trained by my grandfather, who was able to retire early when he went blind in his late 50s.
Government and corporations work hand in hand to keep you enslaved to the system.
My aunt’s husband recently retired, had a stroke the other day and is currently in ICU 🙏. Waiting until we’re old to live has never been a great idea.
My father went to work every day for more than 40 years and as far as I could see, he truly hated his Job more than anything, all he ever talked about was to retire, to reach 60 years of age and becoming eligible for retirement, that was his only goal in life basically, the only thing that was driving him forward. He retired a couple of years ago, thus reaching his life goal. Now he is more miserable than ever, his pension is not very big and he doesn't know what to do with all the free time, but not much money. So be careful what you wish for, it May just come that your so called dreams come True.
thanks for sharing that. I have heard similar stories.
This is something most people don't prepare for.
The topic is tricky... but still..
@@TomScryleus when government pensions were created they were never meant to be claimed for very long, retire at 60, claim until 65😢 after working for 50 years.
Increasing life expectancy means someone could easily live 20 years outside of work. The increasing life expectancy did not come with increasing quality of life - the end being a long, tedious decline of health and capacity.
I can easily imagine my generation retiring at 75+
I suspect the free time is more an issue than the money
Some people just aren't happy.... @@keithparker1346
Unless you invest every penny you can save, you end up like that. At least my perspective at 41. I don't bet my later years on ANY form of outside help, no pension, no social security, nothing. Only my portfolio.
I know plenty who worked until their 50s/60s only to die of a heart attack/stroke just few months into retirement or before it. Life is unpredictable already and slaving away our prime healthy years doesnt makes any sense.
Another great and insightful video Tom, best wishes!
glad you liked it.
Yeah people often think they have until 90. thats not certain.
Ind33d😊
@@lucywhitmore9I've already accepted that I will work until I die. Unless I win the lottery.
True!
BTW you look like the Mona Lisa, but way hotter! 😘
I know plenty of farmers who work into their 70s or 80s then retire and live another 10 years. UnHealthy living is the issue, not retirement.
One of the great errors of Western countries was to abandon multigenerational living. Generations of families living together for economic and emotional well-being. Instead we choose to lower our standards of living, raising our stress levels while complaining about loneliness and no purpose in life.
true
Some see it as error. The elite however disagrees, and they planed that for that to happen in other non-Western countries too. One World Government. new world order
I couldnt imagine living with boomers under one roof.
@@flyingpuma9729My dad was a boomer and he was one selfish son of a bitch, he basically never gave any of his children a single thing but always tried to use his children for free labor, the moment i turned 18 he kicked me out and i had to join the military and cant afford my own house, this world is truly evil, my father had it so much easier than me too.
Thank feminism for that.
My biggest regret was never having money early enough to travel the world and enjoy it before my electrician job destroys my body.
Im sorry to hear that.
I think Factotum is a far better film about work though I do like Vivarium
I am 57yrs old. I am retiring at the end of this year. This guy has a lot of good points. The entire system is based on turning individuals into 30 or 40 year worker bees, enriching the already rich.
thank you for confirming that.
if you don't me asking, are you pleased with your retirement plan?
@@TomScryleus I have spoken to a few financial planners. I am in the midst of putting one together now. I realize now, that there are some things that I should have done, years ago. I do have some ideas that I want to put in place, to generate passive income. Thanks for asking.
As Rockefeller once said " I don't want a nation of thinkers ~ I want a Nation of Workers "
Been saving money my whole life. Haven't been on vacation much. Haven't bought too many expensive things. Still ain't got enough money to get a damn one bedroom flat so I can rent out when I retire. The world is rigged so that the rich and powerful may live long and happy lives while walking on the corpses of the many.
its not fair is it?
Thanks! One of my mentors retired on January 31 of this year. He died of a massive heart attack on February 13. I just found out on March 13. I sincerely hope that he didn't pass due to built-up stress. It hurts. I hope that people who are watching will not fall for the lies. It's a scam. 😔
jeez thats terrible!
thanks for the superthanks. you just made my day. :)
have a nice Sunday.
My father died at the age of 63, he worked 60-80 hours a week for 43 years long, he died by cancer and I saw him die when I was 19 year old, I would rather sleep on the streets than up as my dad.
I just get so ANGRY, when I read stories like that... and it happens all the time.
And so few people actually notice that.
@@TomScryleus And my mother spent it almost everything from his dead insurance on holidays, sauna's, etc. And I have also 2 brothers, I know I don't wanna get old, I know I end up like my dad, so I did a vesectomy at the age of 24, I am now 27 and no marriage, I just wanna be alone until max my 30's, because 30's is a nice age to have a "long" sleep.
Live on the streets and die at 45 or 50? Makes sense
My grandpa worked long hours until he was 84, then he slowed down and only worked half days. My dad is 71 and still working 60-70 hrs a week.
Not me most of my life just did 40hrs...over working is a big no. No..
Working every day of my life and wasting my prime years has been the source of my depression for almost a decade now and it has only gotten worse. At least it has allowed me to pursue my own endeavors so I can try to build the life I want and escape the wage slave trap. Unfortunately, it hasn't panned out, but I am going to see a therapist about it, but I am skeptical they can't help me (although I do advocate therapy can help, I just feel like it won't help my situation). If money weren't an issue I would Twitch and RUclips for the rest of my life as I enjoy it. Great video btw!
Glad to hear that you are talking about retirement. I too think that true fulfillment cannot be postphoned indefinitely! It is a trap because we never know what will happen. The time to live is now. 👍🏾😊
Yepp. And I certainly know from the experience with my father in law.
Good thing about him is he actually did life like if there was no tomorrow.
I do things differently, im waiting for my life to start. Its weird…
Retirement can be far from the idyllic image painted by society. One of the biggest lies is the misconception that retirement will be inexpensive.
I can relate. My grandmother had to undergo several surgeries, each more expensive than the last, and unfortunately, some didn't yield the desired results. It's eye-opening how quickly medical expenses can drain retirement savings.
Medical expenses can indeed be a significant concern. It's crucial to plan for such contingencies and have a financial cushion to cover unexpected costs. Has anyone explored short-term investments as a way to supplement retirement income?
This hits hard, Tomas. I'm living at work 6-10 or 7-10, getting scalped on taxes, my annuity deduction, my pension contributions, and my voluntary IRA contributions, then I have to live off the scraps left of my time and money left behind. Work my nuts off to support everyone but me.
taxes on taxes... sad reality.. i know..
Is retirement really a carrot to dangle in front of us? Is it really a reward? Or is it more "your life only belongs to you when you are too old, frail and broken to enjoy it. And only because you are too old to be of use of us"? Is it a reward or is it the final act of dominance toward us?
I just mean that most people see it as a time when they will finally be able to enjoy life for all their hard work.
Thats how I always used to see it anyway.
@@TomScryleus yeah, you have seen through this. This was basically a rhetoric question for people who haven't really thought about it yet.
It's interesting how people these days simply assume that they will reach that point. To me this attitude feels like hubris.
I realized in my 40s that I wasn’t going to have a nest egg so I worked at working less making more, 3 12 hour shifts a week. I sold all of the excess. In September I will retire at 62 and able to afford to do it. Live in less and enjoy your life.
I have worked on the retirement industry in America for 4 years. It doesn’t work for regular workers. I don’t trust it myself. Thank you for making this video!
The conquest of aging in this century, will also put a damper on traditional retirement routes, especially social security.
Regarding financial institutions and advisors, a quote by Nassim Taleb - "Don't take financial advice from anyone who works for a living."
thank you for the superthanks. :)
The financial advisor is truly weird. You know, I can't even tell people how to invest, because Im not a licenced investment adviser. Even if I was a multibillionarie, I still cant tell people that.
But its fine to take financial advice from a 9-5 financial adviser. So weird... :)
People don't talk a lot about this topic here on RUclips.
Maybe you think this topic is depressing or boring,
but its important.
I think you did a GOOD JOB with this commentary…. I’m bumping up against retirement….. 1 month shy of 30 years …. Not sure if I’m ready for that but where I work is going down to 1 shift in October, So possibly I will do sap then .. I do have a decent amount saved but the thought of only receiving a pension/ social security equivalent to maybe a week and a 1/2 of my normal salary A daunting thought even though I consider I live rather frugally
No its not depressing,it's real life,I personally don't look to far ahead not going to spend my time worrying about crap,as long as I have my health,roof over my head,and some food in the fridge that will do me.keep your vids coming my man!😊
Condolences to you and your family on the loss of your parents.
Thank you. Actually my mom is still alive. :)
@@TomScryleus I meant to clarify - your father and father-in-law. Glad your mother is still around. :)
i am retired @ 61 you are right my mother inlaw died at 70 retired at 69 did not have any retirment.
I heard a lot of stories like that. People just assume they will live to 95.
I quit my job two weeks ago and I feel so much better in every way. I have lots and lots of things to do that are much more enjoyable to me than listening to my ex-boss nagging me to work harder after repeatedly lying to me about promotion and salary increases. I've never understood the perspective of "he has nothing to do". For me working a job is an obstacle to do one of the many things I enjoy doing. Oh and doing nothing is one of the things I enjoy the most.
Also you create bonds with ppl and then watch them get destroyed by the company in different ways. It's much better to create such bonds outside of a corporate setting.
totally agree. thanks for sharing your thoughts.
I just kind of retired, but I don't feel retired and don't want to describe myself that way. "I quit wage slavery" is a much more perfectly accurate way to describe it!
We often realise that brutal truth very late in our lives.
Which explains all the grumpy old people
@@TomScryleus definitely.
And Ironically, society wants us to believe "that's normal". Which is bullshit and just perfectly fits in the manipulation scheme of society.
@@TomScryleusHm, I knew it...
My grandfather once said we should work when we're old and enjoy life when we're young
Retirement is me being able to learn and play musical instruments as much as I want.
you should start already.
just in case...
Yeah, me too...
Just got back from a vacation to florida.I always make sure to enjoy life.If you wait until retierment age it may e to late.
Thank you Tom for these videos. These are truths not many are willing to speak about.
Im glad you like them. Appreciate the kind words. Have a nice ”rest of weekend”
Financial independence is my goal rather than retirement. I am planning on starting a second career when I get there.
sounds smart. I hope you get there.
Same here. I am only 25 and have been aggressively saving from 18, I just can't see myself working for the next 30+ years of my life.
To add to this, I have autism and get burnt out in certain jobs very easily. I currently do office work and I don't hate my job but I have no intention of sitting behind a desk forever. Sometimes I feel everything around me goes by so fast and I wish time would slow down.
Best of luck to you! That's my aim too. 😊
I agree about what you are saying. I have escaped the wage slavery and rat race. I retired at 49 as early as possible and never looked back.
Good for you for highlighting all this, apparently we’re all living longer so pension age keeps being raised….wage slave trap for the masses
exactly.
Great video, when I see these types of videos, I'm always so glad I haven't fallen for any of their tricks yet. So sad it has to be that way.
I live inEngland and I’m 28 and im thinking of buying a caravan and just living for £250 for rent and electric. There’s no way I can carry on working in a warehouse on nights not being able to afford bills. What’s the point of it?
also in UK, also working nights for many years - they can really f your body and mind up in the long run
get that van and invite me over plz :]
@@mrmanio4935 dude,it’s really hard for me and all becauee the job pays good for unskilled work. Been here 6 years now and my back and soul are broke 😂
Bro that's what I've been saying for a long time and people look at me like I'd be crazy for that. We are forced to pay a large part of our time and our finances into systems that promise us security and benefit from this coercion but deny us the promised benefits.
Great content and perspective, really enjoying your channel Tom. Love the AI prompt development too.
I reduced my out goings to the absolute minimum in order to 'retire' at 49, I now focus on managing my wealth in order to create passive income. Luckily I've never been materialistic and chose a GF who is similar. Once people realise that it's the status game they play keeping them from retiring, many wake up and shun it, however status is primal, from men requiring it (and wealth) in order to attract a woman, and for woman to compete with other females for the best men.
Keep the content flowing.
Retirement is wasted on most old people, they hate the idea of not working. I think we need to shake off protestant work ethic that somehow work purifies you
Maybe some day it will happen...
Noticed that. I had a neighbor get down because couldn't work at a gas station and is on social security. Think he's bored without working.
@@eternalabundance39i cant wrap my head around this concept of boredom and being bored if you're not working at a job. Empty headed smooth brains get bored. I just had 3 weeks off work from an injury, spent it at home. I wasn't bored one second and thise 3 weeks seemed like 3 days. I could retire tomorrow, never work a job again, and never be bored for the next 40 years.
End-Stage Capitalism killed my hopes and dreams, they're buried right in my backyard.
End-Stage Communism killed my hopes and dreams, they're buried right in my Stalin's Backyard !
So you financed a swimming pool?
I think a bit differently. I am trying to balance it. Most jobs are toxic. If you find one that isn't stick with it. I work in non-profit sector from home. It's great for the most part as jobs go. I do save for retirement but I wouldn't risk leaving this job now. I'm too lucky to have found it. I live in a foreign county and there's a lot of Europeans at my work. I realized because the job aligns more with European values.
sounds good. Good for you!
I bought too much stuff. That is one thing I really regret but I did buy used, discount or grab deals as I knew I had an issue. Even so, stuff is annoying and takes up space. There is lot of wisdom in this video. You have to save and invest so buy a few high quality items. Buy experiences, which can be value for money.
Good points all round ,the retirement homes are also a trap which further erode savings.
💯 agree!
I'm glad you posted this video Tom. Even though I'm on disability pension in the US, I still do side work and investing. Granted, I purposely don't make enough to lose my Medicaid (my treatments would be unaffordable otherwise). But I do things like the stock market, cryptos, and side hustles like writing. I purposely keep myself busier now in my 40s than my 20s. I may be on disability, but I still manage to put some of my money to work.
sounds great. Keep at it!
in a way that disability is giving you better options.. its good that you use them.
I retired at 48. it's awesome.
sweet
Thank you! I “retired few months ago at 52. Have cash flow from tow rentals. Moving aboard with family to slow travel
I haven't ever bought a new vehicle. I have an older one I can work on myself and I keep it running good. House is paid for and no major bills. 250K a year going into my upcoming escape!
🔥 VIDEO RECOMMENDATIONS
Wage slavery broke my spirit → ruclips.net/video/n1JGXwtTdeo/видео.html
Quiet Quitting → ruclips.net/video/KTktSl5h7I0/видео.html
7 Lies of Wage Slavery → ruclips.net/video/t4lkrM7UtzA/видео.html
I have a dad who’s in his mid 50s and he’s sole dependent on seeing his social Security but he already drank most of his life savings away. He’s been sober for over a year, but when he dies, I’ll have nothing to inherit from him because he spent it all on booze and cigarettes. These are normally questions I would ask my therapist, but here it is for the whole Internet to see.
Don’t be entitled and you won’t need therapy.
(*_*)@@contribution741
So you have a looser for a dad. Dont be like him.
Always happy to see a new video from you Tom! ❤
And Im always happy to see a new comment from you! :)
Where I live, many that are old enough to retire still work part time and few get to fully retire. A part time job is the new retirement even if u do a 401k plan from ur work. I agree with ur message, passive income is key to gaining freedom.
The other part of it is no one seems to realize it that by contributing to the stock market we are enslaving each other. That’s directly tied to our wage slavery. We all complain about having to enrich shareholders and forget we ARE the shareholders to someone else, someone who really deserves those profits for actually doing the work. There is no such thing as wealth without work. Wherever it exists, you can be sure somewhere else there is work without wealth.
I am 65 and l agree with a lot of things you said in your video.
I think more people should endeavour to make passive income.
I live in the UK and if you live only on our state pension it is not enough to survive on.
Excellent video, which should be seen by those entering the workforce! To those in the USA who retired early, how do you manage the medical insurance gap between now and when the medicare kicks in? How much do you pay for one person per year? Medical bills in usa can really do one under in a blink of an eye....
The goal should be flexibility. This is acheived by living a frugal lifestyle and paying off all assets. Payoff your house, drive a used car. Pay it off and give yourself leverage. Work by the hour for a higher wage and demand overtime pay as soon as 40 hours is hit..... this includes drive time.
So true. Im a fan of frugal living and minimalism.
So, I've watched a couple of your videos and I cannot agree more with your philosophy. In my retirement, I'm working for myself on my property, keep busy staving off mental and physical decline. I have a very modest pension which takes advantage of maximizing social benefits and I live within my means, sometimes struggling to make ends meet, but nonetheless getting by. I am off grid living with 3 cats and nature. It's not 100% what I imagined at this point in my life but I'm happy.
Så många sanningar i denna video. Grym videoredigering också 👌
Tack Tobias. Snällt av dig.
I have these exact thoughts about work every day
Why does my shirt never align properly when I'm shooting a youtube video? :(
Are you working to retire some day?
What if that retirement never happens...
Whar are your thoughts on this. Join the discussion.
I want to know what you think.
We must strive for happiness in the present moment and in our present situation. I need to work on this because I often plan and dream of retiring in ten years but in al likelihood the next ten years will be the best ten I have left.
The country I live in is planning to make the age of retirement 70 years...
I'm the silent generation that not only works hard but enjoyed working hard. I seen the Next Generation ahead of me
(Boomers) make good money and at the same waste good money. 45% of Boomers have no retirement savings at all, among the 55% who do have savings 28% have less than $100,000 saved for retirement. Taught their Gen X children and Millennial grandchildren.
I always had a regular job and side hustle job/ jobs. I took the time to learn how to invest in the stock market. It takes an 8th grade education, dedication, and above all common sense to become a millionaire (at least) in the stock market over the years that you worked. Notice I said years, unless you get lucky with your common sense.
I look at Utube as a side Hustle.
All that being said I am Not saying that you can't become very wealthy overnight, you can also win the lottery overnight.
PS: if someone worked at a job they didn't like for 30 years, but at the same time looked forward to retire, then died the same day that they retired. The only people that see that as a problem are the people who are living. And if he played his cards right and believed in the afterlife he's living the ultimate retirement.
......ski
@@maaikevermoen1727 and by the time you get to 70 it will be moved to 80-85
Retirement: when new, or 'new', tires are put on, to either make you roll for yet some time, or simply push you over the precipice.
Tom, my man, I am just on such a long vacation. Quit my old Job, saved good money and take time to enjoy life. Your Videos gave me a bit motivation. BTW, I'm a Consultant too))
oh cool
I was wondering if you watched the movie Vivarium. It is a weird sci fi horror movie a bit in the style of David Lynch. One of the themes is how we all conform with society rules like study, go to college, buy a house in a residential nice are, make children, consume and die. There are also other themes. I think you might find it interesting.
I did... to me that was a difficult movie to watch. I could feel the tension of the people trapped in that house. and then the baby... jikes... this is why I don't have kids.. ;)
@@TomScryleusbabies and kids are not that bad
@@TomScryleus Anyway Fight Club that you mentioned in a video also changes my perspective on many things in particular the IKEA scene and all the thoughts on our consumeristic society.
I love movies that can really influence you.
i love all your videos tom
thank you! :)
Brilliant video Tom 👍
thank you! :)
I'm trying to get out of the wage slave trap but my youtube channel is slowly growing and the algorithm keeps on changing.
I checked out your channel. Try making better thumbnails and clickbaity titles.
If you want the views, there is no way of getting around that :(
Also for the production, I would recommend better lighting conditions. The audio is fine. But the video quality can improve greatly if you have good lighting (regardless of camera).
Most people have no choice but to work, it's not as simple as you make out to stop working, good luck trying to escape working if you're on minimum wage
Like I said in the video. its not easy. but its easier now than when you are old and sick.
Everything that Tom has stated are Truths! I have and am living this "Truth". Retirement is not a "Vacation". It is a Job, a Career, it is Work! Tom states that he will never Retire and this is a good approach. But since Retirement is a Job, change Jobs ASAP!
In the U.S., it’s depressing. I do believe in living below my means, and I would prefer to work a three day week. I know that I would like to have passive income. I wonder when I come of age, would my partner and I rent our tiny home and live in an independent living senior community? The cost of healthcare and housing in the US is very expensive and most rely on an employer for their healthcare - which is very expensive. Thank you for your content.
Im glad you liked it.
You're the philosophical version of the sunglasses from John Carpenter's "They Live". You're showing us all the synaptic garbage and monsters around us...
I'm a huge fan of Carpenter.
That one is not my favorite, but I like most of his movies.
I clocked out early because if I work more I pay more taxes.
haha... good strategy
Thing is...
I live life now. I might have no prospects at hand now, but i also have zero responsibilities or debts at age 24.
I've had numerous jobs, i moved out from home twice, have a driving license had an own car and never took a liking to working.
Always hated it and liked to go on sick leave occasionally. Didn't need much of a reason.
I don't plan on staying a NEET long-term though and i actually have a plan.
Though it might be difficult to get some sort of passive income started with it.
Amen! So many people live/work to retire...and never get there!
Also, I'm happy to see Bitcoin where it is. I'm definitely going to just let it sit, but I'm tempted to sell.
Looking forward to more camera review vids!?
yeah, videos coming soon. currently I struggle with allergies. have to pick my battles. you know what I mean?
@@TomScryleus I totally get that! Excited for it whenever it comes... even if you're a white-haired old man by then!
watch that Bitcoin closely, there are no fundamentsls holding it up in the current monetary setup
When it comes to collecting SSD, everyone’s financial situation is different. Some people have inheritances that make it easier to live comfortably in old age, but most do not. All the older folks I know who have retired haven't had any issues collecting SSD. Some even collect benefits for their deceased spouses.
Interesting video. I’m 41 and have no hopes of ever seeing a single öre (penny) of my pension. Our generation needs to reconsider what security means to us. For me it’s shelter and food. Between 2020-2022 Sweden alone lost 4% of its farmers according to recent statistics. The bulk category being mixed livestock farms which are the best at cycling nutrients and producing food with minimal dependance on inputs from the petro-chemical industry. Looking out across Europe and the US the trend is clear. Food production is being concentrated in the hands of very powerful corporations who have no consideration for protecting environments, ecosystems or local communities. The people who have to pay the higher price for cheap food are not only future generations but us when we get older. Climate change will make it near impossible to produce winter greens in Spain and truck to Northern Europe, probably within our lifetime. Farmers, mostly conventional, have had enough of being squeezed under the thumb of corporations running enormous profits selling expensive and polluting inputs to farmers, and the rigged system of the retailers in the output end who are racing farmers to the bottom in their unethical drive from cheap food. With more and more people joining the urban lifestyle across the world food with fewer and fewer farmers sustaining them it’s not an equation I think we can rely on will work. Artificial fertilizer, produced from natural gas, is directly responsible for 44% of the global population and since yields are dropping and farmers need to add more and more in order to produce the same amount this is not something we can rely on either. It’s a bummer but also a reality we need to face so we can know how to orient ourselves around what really provides us with a sense of future security. So when I’m a pensioner I see myself doing a lot of gardening, keeping chickens and making bread 😂 Doesn’t sound too bad in my view.
Great video as always. Keep em coming.
If only they taught how to navigate the important things in life like this in school instead of teaching us a bunch of useless bullshit
I remember this exam in school, where I hade to name all countries in africe on a map.
And I remember thinking, "when will I ever need to know this?"
Public US schools were created by corporations that hired child labors & needed to do something with them when it became illegal...so...that ain't gonna happen.
What’s the guarantee you are going to make it till tomorrow let alone years away?
there are no guarantees in life.
only death and taxes.
Great video. Love the message. But do people actually think of social security as “retirement “?
My idea is the following: Find better ways to make money constantly. If you can't don't spend it stupidly. But also don't freak out, but patient and level headed. Just don't trust the retirement lie.
I like that!
@@TomScryleus "I like that!" yeah thx. I'm thinking about the whole video, after a day or two and I realized something. There is this thing you talked about "they don't make it possible to work less". This is so deep and nuanced beyond the "compensation" that would allow you to make less hours. It's actually not welcomed to scale back the work according to your situation. The whole society create an economic machine that is incapable of letting the worker scale. You are more likely to be replaced by someone who does the maximum hours and overtime. You will have to fight your bosses and end up in a situation where it creates a "bad look" for you. You have to think about that. You are not valued by the work you are able to do, but by the maximum work the employer is legally allowed to squeeze out of you.
So it made me think about "better ways to make money" and investing also in better ways. What would then be better work?
Not necessarily work that makes MORE money (though it could), but work where you can "work as much as you want" (or feel able to give) and work you "like to come back to". These things are two fantasy metrics most people dream of and very few actually ever have. But it's good to know which horizon is the right to go for.
Life isn't fair or guaranteed. Try to live as long as possible but also as best as possible.
Interesting video which made me re-think some of my assumptions. However can’t agree with never retiring. After 25 years of wage slave I will be retiring soon. Perhaps it is risky but it’s worth it. Life is a finite resource and I am going to make the most of my second half of life 😁
For those with the conviction and the fortitude to know what they are worth - it is possible to work less, and it often makes sense to - even in corporate environments. And by doing so - you feel much less like you want to retire.
But you have to be the absolute highest value to do that (I'm not talking exec level) - basically have the output that allows you leverage to say 'You know, I want to work part time - three days per week max, or I go do something else'.
Because of progressive taxation, it often makes financial sense to do this too. The marginal income gain of the extra 2 days can be very little. Once past a certain income level, combining this practice with thoughtful living means you can end up financially better off by doing so; more 'free' time means more time to organise and set up your own systems.
I talk from a place of privilege - but the type of people who watch these videos are also likely smart enough to find their leverage.
3 days per week and I would stop making wage slavery videos. seriously.
@@TomScryleus 🤣 don't get me wrong - I still think my wage is nowhere near what I'm worth, and i struggle with that knowledge regardless! But life is a lot more palatable 👍
i am moving out of the city too the country. with trees and more room.
which part of the countryside? And what country do you live in?
Im considering doing something similar in the future.
The biggest irony is accidentally kicking your oxygen addiction before you cash the acorns like a roadkill squirrel.
truer words have never been written...
Quote: they pay the rich well to keep them working and pay the poor little to keep them working...
Yessir go see mama say hi for me 😊tell her you’re inspiring ppl around the world and you’re doing a good job.
how kind of you. I will
"Maybe he was just unlucky" ... yeah you live your whole life for the lies of the masses and when you need help you all of sudden can be "too unlucky" to get something back in return. Just think about the whole arrangement. The whole system relies on the fact that you forgo all your opportunities and in the end support isn't even guaranteed.
yes..
There were also a lot of mistakes done by the system in that case. Where we could go after them legally.
But my family decided not to do that. too painful, and it wont bring him back.
The crazy 🤪 thing is that nothing has to be the way that it is. The powers that be specifically designed it as such.
After all, it's not as if older people consume more because they don't. Their biggest cost will be medical and the forever increasing rents or property taxes.
Whatever the case, I refuse to work a single day more for any corporation than I have to.
I'll resort to homelessness if that's what it takes.
Besides, I have no idea where all the jobs for geriatrics are gonna come from. Aren't there enough people sitting around staring at computer screens?
They want control of your time. There isn't much significant work now that we've shipped so much of manufacturing to China. Smh! 😳
Agreed
Ironically I’m listening to this video on an iPhone while driving a Tesla FML lol 😂
sell it now! :)
I understand what you're saying overall, but a nitpick - the 7% number is an average over the lifetime of the S&P 500 index fund. It doesn't mean that ever year will have a 7% increase, it means that, in the past, the years that lost were ultimately negatated by the years that won, yielding an average return of 7%
I know what the 7 % means :)
I do explain it in the video, thats its an average, but thats not how banks sell it.
you can log into banks and on their main page, you can test how much return you would get if you put in 1000 dollars etc. And its always set to 7%. Like if thats reality.
Thanks Tom
Wich software do you use to prépare thé videos with thé rushes ?
Thanks
I use final cut pro for my video editing.
When I think of retirement, I think of my father, robbed of his retirement by early onset alzheimers.
I cannot go out like him, that nightmare disintegration, those pallative care bills costing my mother 12k/ month that just dragged on and on even though they chemically lobotomized him.
Wirh a pattern stretching back 3-5 generations, it would be the height of foolishness to think anything else is waiting for me. I will have to make the hard choice while I still have the agency to do so. That means I only have 20 years left, and then my retirment will be 4.49 inches long.
I get so sad, when I read stories like that... and it happens all the time.
And so few people actually notice that.
Entire generations used. :(
I am a farm labor in case I have operator of 🚜 tractors fields preparing
I always look at the obituaries......alot of people wont make it
Välkommen tillbaka till Sverige!
tack
Now's a really lousy moment to invest in stocks, it's like 1999 or 2007, but it's really the only way to go.
The living god a company bows down to is the SHAREHOLDER. As an employee, you're the lowest form of life to them, somewhere between amoeba and cockroach...
People who dedicate all of their healthy, early years towards (early) retirement are the true slaves of capitalism
Your shirt is too small. I looked you video on 1.5x speed and it seemed normal. You speak reasonable but the delivery is also important. Best of luck!
The shirt is not too small… its my muscular body thats too big. 🤓
@@TomScryleus It is definitely the muscles!
Lol, some people notice/fret over such irrelevant things it cracks me up.