i live on much less than half of what I was making when working. But my quality of life has increased! I don't have to drive when there is freezing rain or white-out snow conditions. I don't have to worry about the dog being alone too long. And its true I've had the time to research into things that I want to learn to do. Also, I enjoy being away from the workplace gossip, negativity, comparing, and general anxiety that some workplaces exude on its employees.
I never got on Facebook after I retired because I'd had my fill of office gossip and pettiness. I kept connected with a few friends who retired about the same time I did.
I have only worked for 3 years in a job where there was a pension. I have that pension paying out when I turn 60, but that is only £50 a month. I have lived on disability benefits most of my life, I have the last few years been working 8 hours a week, but have been forced to stop that because of illness. My husband worked but I have no rights to anything of his, living in Scotland, since he walked out. We don't have any maintenance of any kind. I will get a full state pension because of payments being made towards that as part of the benefits. BUT I lived on so little money before my husband left, that I am used to it. I prefer to be in charge of my own income. Currently my food budget is about £140 a month plus £30 for pet food. I know costs are going up, but I am still managing to absorb that.
It's been tough but from my experience it is better to manage your own finances. Perhaps you can find some hobbies or side interest to generate a bit more income. Or barter goods and services with friends and neighbors. It's surprising ways you can get a little extra..
I love being retired because I'm never bored! There is always something interesting and fun to do. And I can just go with the flow and switch up plans as I choose. I no longer have the concept of separation of work and leisure time. It's all the same to me. If I'm dusting and a favorite song comes on the radio, I dance! Chances are if I'm listening to this podcast, I'm doing some mending or writing out some notes or some other quiet activity. My point is that it's neither work nor play. It's just living my life! And it brings me joy!
Learning new skills is essential. We had a gutter fall off the back of our house (which is two stories tall and hanging overtop of a steep staircase). It would cost us thousands of dollars to have someone come out and repair it due to the safety logistics alone. We looked online and learned how to build a platform using scrap wood we already had, and can now safely replace the gutter ourselves. This only cost about $100 so far compared to the thousands it would have been!
Hi Jane & Mike, great vlog, thank you. I'm in UK, receiving my State Pension for which I worked over 40 years. I've always been a saver and continually sourced the best savings rates. However, the very high cost of living is proving most challenging.
Totally agree Ann, I had a good surplus every month with my pensions 12 months ago,now I find I need to be very careful if I don’t want to start dipping into my savings every month. I now have more meatless meals each week to try and keep within my grocery budget.
I'm retiring in just over 2 weeks time. Because I'm only 56 I will have to wait a few years for my state pension but I just paid off my house last month and am now completely debt free. I have positioned myself so that my lifestyle costs are lower than most folks so will be fine. I will also get a federal old age security at 65. I'm planning on making it a game of sorts to see how little I can live on until these kick in. Great video as always. Thanks for sharing x
YES! You really are my frugal QUEEN❤. My husband and I are in the mid fifties and we hope that we can retire with 63/64 instead of 67 here in Germany. Our house will be payed in 3,5 years (yeah!). Since 3 years we are saving every month 10 % of our income for our retirery in a private way. And this is what I have learned from you! We are still working on costs that we can cut down, step by step. Thank you again for all your helpingful videos.
Well rounded discussion. I read of a missionary who spent 30 years in the field, yet he was still able to save for retirement on the small stipend he received. You ticked all the boxes! The most joyful part of retirement is our continued learning, and ability to bless others!
Love your style Jane...comfortable, casual with those lovely bright scarves. They light up your face more than any make-up could. We are retired, in our seventies and completely debt free for years. We live a simple life here in Canada and still save every month to help our grandchildren. Living below your means is the secret!
That couple in who you saw the great lesson about saving for retirement. You are that guidance to lots of people now through the online community. I appreciate it.
I learned a good lesson from my mom's situation. She worked for an employer that did not offer any pension. She is living on social security and it's not much. If we were not living together, she might be homeless. The hubby and I are both state employees, so we pay 6% of our salary into our state pensions. In addition, we have been contributing to our 403b accounts. It's a before taxes retirement plan offered to state employees to supplement their pensions. We are two years away from retirement. We will both have our pensions and social security. He will have reached the full age for his social security benefit and I will take mine early at age 62. We don't plan to use our 403b accounts until we must start withdrawing at age 72. We are trying to put money away because the cost of living is going to keep rising and our income will be fixed. What we do know is that every fiscal year after we retire, we will get a 2.5% increase in our state pension. We will still have our mortgage for a few years after retirement. We are doing our bathrooms the way you did. We replaced the toilet and vanity ourselves. We just need to do the tubs and shower.
My social security money is not paid to me because my state pension is"taxpayer dollars". You should check to be sure you ACTUALLY will be able to collect the social security you paid in
Thanks for another helpful video, Jane. A friend and I watch and discuss your videos. It helps to keep both of us on track. I now have a little accordion file folder system, where I can put any spare cash, until it gets deposited in my bank account, at the end of the month. It’s surprising to me how much I’ve saved in the 2 months that I’ve been watching your talks.
Great advice, as always, Jane. Hope people take it and run with it. I just retired last Friday at 72 in the U.S.A. I planned for my retired. I had to move out of California to a cheaper affordable state of Texas.
Six months to retirement. Or so the plan goes. 40+ years paying into Social Security (survivors benefit eligible also), 30 into tax deferred savings, and another 13 into employer pension. It will be enough... it will be plenty... But that wouldn't be enough if I hadn't decided paying off the mortgage, debt and not incurring more was the most important financial activity I could do.... and was lucky enough to have been able to do it.
Your point about learning new skills is absolutely important! We should all learn how to do things for ourselves. It saves paying someone else to do the little things... like oil changes in the car, cutting down a damaged tree, sewing a button or hemming, cooking, etc. You can learn almost anything from RUclips these days. But asking friends is best. Thanks for the videos!
We’re retired and I’ve found that with more time to shop and cook the desire to eat out has reduced significantly because we can make nice food at home. And we live within walking distance of our local town so rarely need to use our car for shopping or going to amenities saving on petrol and parking.
Thank you Jane, your advice is “Bang On” to use British terminology ! My wife and I began taking steps towards retirement when we were in our 30’s. Maxed out our retirement investment accounts, paid off the mortgage and any miscellaneous other debt, etc. We were able to retire before 60 ! We learned to live on a retirement income BEFORE we retired. Some of our “friends” don’t think it’s fair that we were able to retire and they won’t be able to in the foreseeable future. When we try to explain how we were able to it falls on deaf ears. 🤦🏻♂️. Your finances and health are basically determined by your lifestyle choices so make intelligent choices !
As always a sound inspirational chat, that keeps the light shining at the end of the tunnel. You'll never know how many people you help cope with this very trying time of energy bill's spiraling and mortgage increases.... it certainly helps me to stay on track, and for that I'm very grateful to both you and Mike, for your efforts to share your knowledge with us all x
We have been planning for our joint retirement for a long time. There are 15 years between our ages and if the last few years has taught us anything life can be cruel and short. Hubbie reaches the magic retirement age in September this year and I will retire at the same time ( in my early 50’s) so we can spend our retirement doing things we want to together. We have planned for this for a long time and both paid into work pensions since we started work and have lived below our means for many years, paid off mortgages and built up savings etc. We have plans to downsize and continue our current frugal lifestyle with deliberate planned spending. Many of my work colleagues do not believe I will do it, more fool them… we are both counting the weeks down till September…😀
Retired. Only bills are electric, car insurance, property taxes ,tithe, and a very economical combined cell phone/internet bill. I am able to grow 75 % of my own food and preserve masses. I have some cash set aside and some precious metals. I have a nice rental income and a generous state pension. I now wonder what I and possibly you will do if this current bank and stock disintegration continues to worsen and all pensions state and private collapse.
I really feel this is sound advice and I am learning a lot about how to manage finances for life from this channel. We can't prepare for everything, but we can use the advice and make the best choices at the time, or for what is right for us.
I resonated with what you said about your parents Jane. We are probably nearer their ages than yours and when we paid off our mortgage and put as much as we could away for our retirement we thought then that we would be comfortable! We knew we would never be rich but we assumed we would be able to manage well! How wrong we were. We couldn’t have envisaged how the country would have mismanaged everything so badly to get us to this cost of living crisis. There are many a lot worse off than us but it’s been a bitter pill to swallow!
Really enjoyed this talk today. Retiring is learning to rethink your routine after years of having a job, maybe having a family to raise and having to juggle everything. I recall years ago, becoming a first time mum and being all over the place trying to get into a routine. Second and third time round was a doddle. Now I am older, here I go again having finished work but it will settle down for sure. Thank you for all your thoughts and ideas as always.
Always love the midweek money chat. Everyone's situation is different but no matter what enjoy your retirement. As you said it would be nice to have more money but we have already lived our lives without more money and we did just fine. We are running a 10 acre mini-farm with cattle, goats and chickens... alot of work which keeps us healthy but also costs money but we enjoy this lifestyle. I also have an AirBnb cabin which brings in additional income. I think sometimes we are busier now that we are both officially retired, I don't know how we managed to get anything done when we were working. LOL
Hello Jane &Michael, this video was spot on for me today as i will at some point retire. I commute 40 minutes to my work monday-friday. 80 miles round trip i know sounds awful! I have been at this for 8 years now. My husband will be retirement eligible in 3 years,we are working on getting our mortgage paid in full,still working on that! We bought a new to us car on a short finance loan,low percentage rate and have paid that off in full 5 years ago. We drive our vehicle till they die completely! For example we have a car 2005,with close to 400,000 miles on it. We do maintain it regularly and it has served us well. We do know at some point we will need to replace. We do not buy brand new,we usually like certified used vehicles. Beautiful blanket on your sofa,love those kind! I have sewing,crochet,knit,plastic canvas craft that i enjoy doing,my husband would really like to relocate to a warmer winter climate than where we live currently. What would be your thoughts on a scenario as this? Thank you Jane &Michael for sharing your home with us& reflective thoughts! You have a very photo genic 4 legged fur baby! Love it!
Wow! Things are much less expensive in your neck of the woods. I live near Birmingham, Alabama, and our vet visits for our cats are $100 per visit, a coffee costs at least $4 each, everything you mentioned is less than it is here. I have noticed that many things you get in shopping hauls are less expensive, too.
Hi Jane &Mike Thankyou for the session always great to have another perspective to living & retirement. I would like to add another perspective. Not that long ago people seem to seperate from a marriage/long term relationship around 50-55 . It seems to be quite a considerable amount of separation of couples in their 60's .Often this leaves the single person near retirement or planning in a different situation than was planned.
One can do everything possible to make a marriage work but as I sadly discovered, it takes two to achieve this. Lots of people can be blindsided and abandoned and it’s something that I thought would never happen me. It’s pretty common in discussions on the topic unfortunately. Luckily I am strong, my faith, family and friends got me through, I had latent skills to utilise, managed to get a job (albeit low paying on a starting scale)which suits me, is fiercely rewarding and gives a great work/life balance but retirement concerns me. Thanks Jane for easing that worry a bit. I guess as a former Girl guide, I do like to be prepared.
@@tiddlywinks456 women of that age need to make sure that menopause doesn't make them crusty, bitchy miserable old bags that men leave for someone who isn't any of the above.
I always work so have a full state pension and also when I joined the NHS I joined their pension scheme. I paid in the full amount I could and a little extra to buy additional years. I have not got the full amount but I do have a nice second pension from that. I have also savings in ISA’s . That is not a large amount but it’s there if I need it. Although I am now retired I still try to save a little every month and I move my savings about to get the best interest rates I can by using monthly savers and also using accounts that pay interest on capped amounts. Every little help when the interest rates are so low.
Yes I am Jane like you and Mike I have made sure I retired in a good place. I have never been a big earner but I have always tried to save and prepared for the future.
Hi Jane and Mike, Revisiting old vlogs regarding retirement. This one even shows the same budget book I’ve purchased….. ( and yet to work out how to use) My financial situation has changed in to a positive I’m cautious and fearful to carry and hope to things forward methodically and slowly. I wonder if you can advise how I obtain all your previous content relating to retirement or do I just work through?? TIA 😊💙💜💃
Hi Jane, what about this, we paid off our mortgage a year later all the maintenance started. First a air conditioner $8,000.00, then 5 new windows $10,000.00 then repair the deck $4,000.00. We bought our house new 16 years ago and it seems like the maintenance is just starting and will continue. We done all the work and then sold the house for a nice profit and now we are in an apartment. Now we are not sure what to do, buy another much smaller house for cash or just use all the money from the house for retirement? What do you think!
@@stevestewart007I'm looking at tiny houses to,I love them! It was not just the maintenance but I got tired of having to clean that big house lol , way to much for just 2 people. Our apartment is 1 third of the size. I see a tiny in our future!
Retired at 66 and one thing I've chosen to reduce grocery bill is instead of 2 eggs, toast, coffee I'll have everything in ones. One egg, gave up bacon, one fried potato, one cup of coffee instead of three. And I do the same for lunch and dinner. Whatever I'm having I don't go back for seconds. Have just one and save the rest for next meal or tomorrow's.
Here in Canada you can expect a 30% discount for multiple windows done at the same time. Save longer and get the discount is the way to go. Same for plumbers, a set fee for going in your home and then each item itemized. So significant savings to save for the whole job and get it done together. Each country may be different but we can all ask the right questions. Thanks for all you do Jane and Mike. 🙋♀
That’s all well and good if you have all the money all at once or you can live without the one toilet in your British home until you can replace the bathroom.
@@FrugalQueeninFrance you have a point. We are retired and just had three of our windows changed out and saved until we could do three for the savings. It was meant to be helpful and not critical. Sorry Jane.
@@kenhawrellukhawrelluk805 I didn’t think you were being critical. Often Americans, Canadians and even Australians forget British people live in tiny houses with one toilet and most British people are really poor.
Here's a link to a great read from an American author that you might enjoy on this topic! "How to Retire the Cheapskate Way" by Jeff Yeager. He also used to have a regular RUclips series on thrifty living on AARP (American Association of Retired Persons) a few decades ago. I was watching him for tips in my 30s.
I can’t wait until I’ll retire. I’m actively paying down my mortgage and plan on being mortgage free at time of retirement. I’m waiting until age 65 so that I can get Medicare health insurance. I’m currently working part-time so I consider myself semi-retired. I think it as having the best of both worlds ( trying to put a positive spin in spite of still working)
Thanks Jane for talking about the State Pension oh life it makes my blood boil how people are calling it a benefit ( mainly politicians) I’m one of the unfortunate ‘back to 60’ ladies who have worked so hard in life and then robbed of my pension. I’m very bitter but it’s made me be frugal and have a simpler life that I’ve got to admit I’m less stressed and always learning to make things better for us. I really have got to master Quilting it’s a new found hobby after following you and saying to myself I could have a go at that so I’m going to. Thanks for all your useful information, it’s very much appreciated. X
Thanks for all this helpful information. Every video you put out I find helpful in some way. I have about 20 years until I'm retirement age (wow, time is just flying by!) but it gives my husband and I consistent time to think about our retirement needs. Your tips and insight are very helpful. Thanks!
Thanks Jane wise words its a pity we have mad politicians here on all sides, it seems one step forward two steps back. I follow your frugal ways as its no use whining its up to me and my husband to try and enjoy retirement, but once you get your state pension your tax allowance iseaten up and any private pensions are taxed so you have to take that into account.If i win the lottery ill let you know. God bless x
It’s to compensate for the tax we didn’t pay when we worked as our contributions were tax free. They get the money eventually but it’s a lesser amount than we would have paid if our pension contributions were not tax free. To make you feel better our total tax contributions are over40% here in France
Even people who think they won’t retire …. WILL retire. You can’t plan on not needing to do so. I have a friend who had a personal retirement and with medical bills chose to break into that and then she herself developed Parkinson’s. She would love to work but cannot. Another friend says she won’t retire and spends hundreds on lifestyle. But again, a friend of mine who is the doctor for 9 nursing homes insists « we all retire, whether we want to do so or not! «
I hope one day you can do a video about the choice to move away from family. We cannot get our saved for pension until we are 60 so we are saving and building side incomes to retire before 60. We have an enormous amount of capital in our house but I can’t imagine moving away from family. Also since house prices are through the roof and a rental crisis it will be a few years before my kids move out. They do pay board. Love your videos, I am always on the same wavelength and I really respect your opinions. I also want to shout out to Mike, I love the music in the videos.
I would LOVE to retire, and I'm in a pretty good place financially, but not good enough to retire and I don't know if I will ever be able to get there. Even with no debt and saving & investments it just doesn't seem to be doable.
Raising 4 kids and sending them to private school and college made it difficult to save a lot in retirement accounts. We worked 4 jobs just to send them to school. We just paid off mortgage and no debt. Im self employed and my husband retires early with a great pension. We are now able to save a lot more for the future so I’m not to concerned. There are some renovations we need to make on house but we will pay as we go. With all the years of severe frugality we are now ready to loosen the purse strings! We made it 🎉🎉
Government old age pensions are means tested in Australia and are not universal. Firstly you have to be 67 years old to be eligible. Then when you apply, you are subject to either an assets test or an income test. You are clobbered, by whichever is the higher amount. It’s a tricky balance having just the right amount at 67, so one can still be eligible for state and federal health care cards and even a meagre part pension to supplement your own savings in private superannuation. The worst situation is to be right at the cut off thresholds for any Government pension whatsoever. People are effectively punished for saving conscientiously for retirement, as the government deducts money off the government aged pension for every thousand dollars you are over the allowable thresholds. It utterly disincentivises people to save beyond the threshold amounts, as the more money you save, the more the government deducts off the Aged Pension and you can be worse off than if you had saved less but not exceeded the eligibility thresholds.
The one thing that most people don't see coming in retirement is long term care. We were all set, had saved enough, had a good plan and along came Alzheimer's. Two weeks ago, I had to place my 71 year old husband, who is in excellent physical health in long term care. His mind is completely gone. And, now I have no way to figure out how long our money will last or what the future holds. I have told my kids, who are in their 40's that they need to be thinking about this now for their future. They need to plan for long term care before it's too late, like it is for my husband and I.
I don't think I'll make it to pension age but I'm prepared if i do. I have no debts (thank you Jane) or mortgage now, I will have the money for the remainder of the roof at the end of the year, then there are 4 windows to replace ( a want rather than a need). that would give me 3 whole years to get a healthy emergency fund behind me
People in France are losing their minds because the president is raising the retirement age from 62 to 64. People are living longer so that makes sense. In the U.S. the age for full social security has been raising as the population lives longer. Once upon a time it was 65 and now it is 67.
Fact check for you. 25% of all the poorer people in France die before they reach 62 so not everyone is living longer. When you take ALL of our French taxes of social charges, self employment tax, income tax, property taxes, into consideration we pay over 40% of our income to taxes. You have to pay that for 40 years to get that pension. There are no tax free saving schemes like a Roth IRA or 401K so the French are not 'losing their minds' which is extremely rude of you to say but fighting for a constitutional right.
@@FrugalQueeninFrance I am truly sorry, I did not intend to offend anyone. Thank you for educating me on some of the statistics. We too have a lot of the same taxes to pay and we are slowly losing our middle class too.
i live on much less than half of what I was making when working. But my quality of life has increased! I don't have to drive when there is freezing rain or white-out snow conditions. I don't have to worry about the dog being alone too long. And its true I've had the time to research into things that I want to learn to do. Also, I enjoy being away from the workplace gossip, negativity, comparing, and general anxiety that some workplaces exude on its employees.
We feel exactly the same. My nerves would be jangling on arrival to work just from my commute!
I never got on Facebook after I retired because I'd had my fill of office gossip and pettiness. I kept connected with a few friends who retired about the same time I did.
I can only say, "AMEN !"
I can only say, "AMEN ! "
@@FrugalQueeninFrance I can only say, " AMEN! "
I have only worked for 3 years in a job where there was a pension. I have that pension paying out when I turn 60, but that is only £50 a month. I have lived on disability benefits most of my life, I have the last few years been working 8 hours a week, but have been forced to stop that because of illness. My husband worked but I have no rights to anything of his, living in Scotland, since he walked out. We don't have any maintenance of any kind. I will get a full state pension because of payments being made towards that as part of the benefits. BUT I lived on so little money before my husband left, that I am used to it. I prefer to be in charge of my own income. Currently my food budget is about £140 a month plus £30 for pet food. I know costs are going up, but I am still managing to absorb that.
You’ve had a really tough time, no one deserves that.
It's been tough but from my experience it is better to manage your own finances. Perhaps you can find some hobbies or side interest to generate a bit more income. Or barter goods and services with friends and neighbors. It's surprising ways you can get a little extra..
Well done Laura, you've obviously got a really good grip on your spending, inspirational xx
I love being retired because I'm never bored! There is always something interesting and fun to do. And I can just go with the flow and switch up plans as I choose. I no longer have the concept of separation of work and leisure time. It's all the same to me. If I'm dusting and a favorite song comes on the radio, I dance!
Chances are if I'm listening to this podcast, I'm doing some mending or writing out some notes or some other quiet activity. My point is that it's neither work nor play. It's just living my life! And it brings me joy!
Thanks Janet
That’s the way I hope my retirement will be a few years from now!
Learning new skills is essential. We had a gutter fall off the back of our house (which is two stories tall and hanging overtop of a steep staircase). It would cost us thousands of dollars to have someone come out and repair it due to the safety logistics alone. We looked online and learned how to build a platform using scrap wood we already had, and can now safely replace the gutter ourselves. This only cost about $100 so far compared to the thousands it would have been!
That’s great
Hi Jane & Mike, great vlog, thank you. I'm in UK, receiving my State Pension for which I worked over 40 years. I've always been a saver and continually sourced the best savings rates. However, the very high cost of living is proving most challenging.
Best of luck!
Thank you for sharing all of your knowledge with US. YOU ARE REAL. GOD BLESS ALL OF YOU 🏡😊.
Totally agree Ann, I had a good surplus every month with my pensions 12 months ago,now I find I need to be very careful if I don’t want to start dipping into my savings every month. I now have more meatless meals each week to try and keep within my grocery budget.
I'm retiring in just over 2 weeks time. Because I'm only 56 I will have to wait a few years for my state pension but I just paid off my house last month and am now completely debt free. I have positioned myself so that my lifestyle costs are lower than most folks so will be fine. I will also get a federal old age security at 65. I'm planning on making it a game of sorts to see how little I can live on until these kick in. Great video as always. Thanks for sharing x
Thanks for watching
YES! You really are my frugal QUEEN❤. My husband and I are in the mid fifties and we hope that we can retire with 63/64 instead of 67 here in Germany. Our house will be payed in 3,5 years (yeah!). Since 3 years we are saving every month 10 % of our income for our retirery in a private way. And this is what I have learned from you! We are still working on costs that we can cut down, step by step. Thank you again for all your helpingful videos.
Thanks for watching
Happy frugal wednesday to everybody
Well rounded discussion. I read of a missionary who spent 30 years in the field, yet he was still able to save for retirement on the small stipend he received.
You ticked all the boxes! The most joyful part of retirement is our continued learning, and ability to bless others!
Thanks so much
Hi everyone,sorry Iam late but hopefully I’ll catch up ❤️❤️❤️
p.s. love the quilt in the background!
Thanks
Love your style Jane...comfortable, casual with those lovely bright scarves. They light up your face more than any make-up could. We are retired, in our seventies and completely debt free for years. We live a simple life here in Canada and still save every month to help our grandchildren. Living below your means is the secret!
Thanks very much for watching
That couple in who you saw the great lesson about saving for retirement. You are that guidance to lots of people now through the online community. I appreciate it.
Our pleasure!
I learned a good lesson from my mom's situation. She worked for an employer that did not offer any pension. She is living on social security and it's not much. If we were not living together, she might be homeless. The hubby and I are both state employees, so we pay 6% of our salary into our state pensions. In addition, we have been contributing to our 403b accounts. It's a before taxes retirement plan offered to state employees to supplement their pensions. We are two years away from retirement. We will both have our pensions and social security. He will have reached the full age for his social security benefit and I will take mine early at age 62. We don't plan to use our 403b accounts until we must start withdrawing at age 72. We are trying to put money away because the cost of living is going to keep rising and our income will be fixed. What we do know is that every fiscal year after we retire, we will get a 2.5% increase in our state pension. We will still have our mortgage for a few years after retirement. We are doing our bathrooms the way you did. We replaced the toilet and vanity ourselves. We just need to do the tubs and shower.
Thanks very much
My social security money is not paid to me because my state pension is"taxpayer dollars". You should check to be sure you ACTUALLY will be able to collect the social security you paid in
I'm 41 and feel a little anxious but your videos are so comforting!!! Thank you! I have time to make things a little better for future me.
Thanks for another helpful video, Jane. A friend and I watch and discuss your videos. It helps to keep both of us on track.
I now have a little accordion file folder system, where I can put any spare cash, until it gets deposited in my bank account, at the end of the month. It’s surprising to me how much I’ve saved in the 2 months that I’ve been watching your talks.
Thanks for sharing!!
Great advice, as always, Jane. Hope people take it and run with it. I just retired last Friday at 72 in the U.S.A. I planned for my retired. I had to move out of California to a cheaper affordable state of Texas.
Thanks for watching
Six months to retirement. Or so the plan goes.
40+ years paying into Social Security (survivors benefit eligible also), 30 into tax deferred savings, and another 13 into employer pension. It will be enough... it will be plenty...
But that wouldn't be enough if I hadn't decided paying off the mortgage, debt and not incurring more was the most important financial activity I could do.... and was lucky enough to have been able to do it.
Thanks for sharing
Us too. No payments!!!
@@cyoungledesma quite a difference! If you don't owe,. You're not owned!
Your point about learning new skills is absolutely important! We should all learn how to do things for ourselves. It saves paying someone else to do the little things... like oil changes in the car, cutting down a damaged tree, sewing a button or hemming, cooking, etc. You can learn almost anything from RUclips these days. But asking friends is best. Thanks for the videos!
Thanks Troy
We’re retired and I’ve found that with more time to shop and cook the desire to eat out has reduced significantly because we can make nice food at home. And we live within walking distance of our local town so rarely need to use our car for shopping or going to amenities saving on petrol and parking.
That sounds lovely
Thank you Jane, your advice is “Bang On” to use British terminology ! My wife and I began taking steps towards retirement when we were in our 30’s. Maxed out our retirement investment accounts, paid off the mortgage and any miscellaneous other debt, etc. We were able to retire before 60 ! We learned to live on a retirement income BEFORE we retired. Some of our “friends” don’t think it’s fair that we were able to retire and they won’t be able to in the foreseeable future. When we try to explain how we were able to it falls on deaf ears. 🤦🏻♂️. Your finances and health are basically determined by your lifestyle choices so make intelligent choices !
Thanks so much
Thank you Jane. You did another wise retirement video.
Glad it was helpful!
As always a sound inspirational chat, that keeps the light shining at the end of the tunnel. You'll never know how many people you help cope with this very trying time of energy bill's spiraling and mortgage increases.... it certainly helps me to stay on track, and for that I'm very grateful to both you and Mike, for your efforts to share your knowledge with us all x
Thanks very much
We have been planning for our joint retirement for a long time. There are 15 years between our ages and if the last few years has taught us anything life can be cruel and short. Hubbie reaches the magic retirement age in September this year and I will retire at the same time ( in my early 50’s) so we can spend our retirement doing things we want to together. We have planned for this for a long time and both paid into work pensions since we started work and have lived below our means for many years, paid off mortgages and built up savings etc. We have plans to downsize and continue our current frugal lifestyle with deliberate planned spending. Many of my work colleagues do not believe I will do it, more fool them… we are both counting the weeks down till September…😀
Thanks Debbie. We always planned to retire as soon as we could just so we could be together every day
Love this!
Retired. Only bills are electric, car insurance, property taxes ,tithe, and a very economical combined cell phone/internet bill. I am able to grow 75 % of my own food and preserve masses. I have some cash set aside and some precious metals. I have a nice rental income and a generous state pension. I now wonder what I and possibly you will do if this current bank and stock disintegration continues to worsen and all pensions state and private collapse.
Thanks for watching
I really feel this is sound advice and I am learning a lot about how to manage finances for life from this channel. We can't prepare for everything, but we can use the advice and make the best choices at the time, or for what is right for us.
Thanks Carol
I resonated with what you said about your parents Jane. We are probably nearer their ages than yours and when we paid off our mortgage and put as much as we could away for our retirement we thought then that we would be comfortable! We knew we would never be rich but we assumed we would be able to manage well! How wrong we were. We couldn’t have envisaged how the country would have mismanaged everything so badly to get us to this cost of living crisis. There are many a lot worse off than us but it’s been a bitter pill to swallow!
Thanks for sharing
Really enjoyed this talk today. Retiring is learning to rethink your routine after years of having a job, maybe having a family to raise and having to juggle everything. I recall years ago, becoming a first time mum and being all over the place trying to get into a routine. Second and third time round was a doddle. Now I am older, here I go again having finished work but it will settle down for sure. Thank you for all your thoughts and ideas as always.
Love that!
Always love the midweek money chat. Everyone's situation is different but no matter what enjoy your retirement. As you said it would be nice to have more money but we have already lived our lives without more money and we did just fine. We are running a 10 acre mini-farm with cattle, goats and chickens... alot of work which keeps us healthy but also costs money but we enjoy this lifestyle. I also have an AirBnb cabin which brings in additional income. I think sometimes we are busier now that we are both officially retired, I don't know how we managed to get anything done when we were working. LOL
Thanks for watching
Great video ! Thank you Jane & Mike 😀
Our pleasure!
Great advice. I am able to prepare on a part-time income for eventual retirement. Planning goes a long way, along with lack of lifestyle creep.
You can do it!
Thank you for another great video. My husband and I also hope to retire early in our late Fifties
Good luck!!
@@FrugalQueeninFrance Thank you!
Hello Jane &Michael, this video was spot on for me today as i will at some point retire. I commute 40 minutes to my work monday-friday. 80 miles round trip i know sounds awful! I have been at this for 8 years now. My husband will be retirement eligible in 3 years,we are working on getting our mortgage paid in full,still working on that! We bought a new to us car on a short finance loan,low percentage rate and have paid that off in full 5 years ago. We drive our vehicle till they die completely! For example we have a car 2005,with close to 400,000 miles on it. We do maintain it regularly and it has served us well. We do know at some point we will need to replace. We do not buy brand new,we usually like certified used vehicles. Beautiful blanket on your sofa,love those kind! I have sewing,crochet,knit,plastic canvas craft that i enjoy doing,my husband would really like to relocate to a warmer winter climate than where we live currently. What would be your thoughts on a scenario as this? Thank you Jane &Michael for sharing your home with us& reflective thoughts! You have a very photo genic 4 legged fur baby! Love it!
Thanks so much for watching
Wow! Things are much less expensive in your neck of the woods. I live near Birmingham, Alabama, and our vet visits for our cats are $100 per visit, a coffee costs at least $4 each, everything you mentioned is less than it is here. I have noticed that many things you get in shopping hauls are less expensive, too.
Sorry to hear that
Thank you Jane. Yet another interesting video.
Glad you enjoyed it!
Great video!!
You have given solid advice to us as we are saving for retirement.
Take care🦋💗
Glad it was helpful!
🙌🏻well done uplifting video
Thank you 🙌
i was so lucky that my state owned enterprise had a really good superannuation that I paid into for many many years.
Your sofa is really pretty. I love your home.
Thank you so much!
So true about retirements benefits!
Thanks
Hi Jane &Mike
Thankyou for the session always great to have another perspective to living & retirement. I would like to add another perspective. Not that long ago people seem to seperate from a marriage/long term relationship around 50-55 . It seems to be quite a considerable amount of separation of couples in their 60's .Often this leaves the single person near retirement or planning in a different situation than was planned.
All the more reason to make a marriage work
One can do everything possible to make a marriage work but as I sadly discovered, it takes two to achieve this. Lots of people can be blindsided and abandoned and it’s something that I thought would never happen me. It’s pretty common in discussions on the topic unfortunately. Luckily I am strong, my faith, family and friends got me through, I had latent skills to utilise, managed to get a job (albeit low paying on a starting scale)which suits me, is fiercely rewarding and gives a great work/life balance but retirement concerns me. Thanks Jane for easing that worry a bit. I guess as a former Girl guide, I do like to be prepared.
@@tiddlywinks456 women of that age need to make sure that menopause doesn't make them crusty, bitchy miserable old bags that men leave for someone who isn't any of the above.
Great video Jane & Mike🏴
Thanks
I always work so have a full state pension and also when I joined the NHS I joined their pension scheme. I paid in the full amount I could and a little extra to buy additional years. I have not got the full amount but I do have a nice second pension from that. I have also savings in ISA’s . That is not a large amount but it’s there if I need it. Although I am now retired I still try to save a little every month and I move my savings about to get the best interest rates I can by using monthly savers and also using accounts that pay interest on capped amounts. Every little help when the interest rates are so low.
You’re doing fine.
Yes I am Jane like you and Mike I have made sure I retired in a good place. I have never been a big earner but I have always tried to save and prepared for the future.
@@patmartin9727 I do the same thing as you regarding savings...I try and get the best interest rate possible ...every little helps.
Hi Jane and Mike,
Revisiting old vlogs regarding retirement.
This one even shows the same budget book I’ve purchased….. ( and yet to work out how to use)
My financial situation has changed in to a positive
I’m cautious and fearful to carry and hope to things forward methodically and slowly.
I wonder if you can advise how I obtain all your previous content relating to retirement or do I just work through??
TIA 😊💙💜💃
@@emmacampbell1663 in the YT search box type frugal queen in France retirement
Wow you guys are perfect! What an example
Not sure we’re in anyway perfect but thanks for the feedback
@@FrugalQueeninFrance it’s a pleasure!
Hi Jane, what about this, we paid off our mortgage a year later all the maintenance started. First a air conditioner $8,000.00, then 5 new windows $10,000.00 then repair the deck $4,000.00. We bought our house new 16 years ago and it seems like the maintenance is just starting and will continue. We done all the work and then sold the house for a nice profit and now we are in an apartment. Now we are not sure what to do, buy another much smaller house for cash or just use all the money from the house for retirement? What do you think!
I’d buy the smallest cheapest property I could happily live in.
@@stevestewart007I'm looking at tiny houses to,I love them! It was not just the maintenance but I got tired of having to clean that big house lol , way to much for just 2 people. Our apartment is 1 third of the size. I see a tiny in our future!
Retired at 66 and one thing I've chosen to reduce grocery bill is instead of 2 eggs, toast, coffee I'll have everything in ones. One egg, gave up bacon, one fried potato, one cup of coffee instead of three. And I do the same for lunch and dinner. Whatever I'm having I don't go back for seconds. Have just one and save the rest for next meal or tomorrow's.
Thanks for sharing
👍👍👍
Here in Canada you can expect a 30% discount for multiple windows done at the same time. Save longer and get the discount is the way to go. Same for plumbers, a set fee for going in your home and then each item itemized. So significant savings to save for the whole job and get it done together. Each country may be different but we can all ask the right questions. Thanks for all you do Jane and Mike. 🙋♀
That’s all well and good if you have all the money all at once or you can live without the one toilet in your British home until you can replace the bathroom.
@@FrugalQueeninFrance you have a point. We are retired and just had three of our windows changed out and saved until we could do three for the savings. It was meant to be helpful and not critical. Sorry Jane.
@@kenhawrellukhawrelluk805 I didn’t think you were being critical. Often Americans, Canadians and even Australians forget British people live in tiny houses with one toilet and most British people are really poor.
Here's a link to a great read from an American author that you might enjoy on this topic! "How to Retire the Cheapskate Way" by Jeff Yeager. He also used to have a regular RUclips series on thrifty living on AARP (American Association of Retired Persons) a few decades ago. I was watching him for tips in my 30s.
I can’t wait until I’ll retire. I’m actively paying down my mortgage and plan on being mortgage free at time of retirement. I’m waiting until age 65 so that I can get Medicare health insurance. I’m currently working part-time so I consider myself semi-retired. I think it as having the best of both worlds ( trying to put a positive spin in spite of still working)
Thanks for watching
Лайк и комментарий для поддержки канала. Thank you so much 🤩
Thank you
Thanks Jane for talking about the State Pension oh life it makes my blood boil how people are calling it a benefit ( mainly politicians) I’m one of the unfortunate ‘back to 60’ ladies who have worked so hard in life and then robbed of my pension. I’m very bitter but it’s made me be frugal and have a simpler life that I’ve got to admit I’m less stressed and always learning to make things better for us. I really have got to master Quilting it’s a new found hobby after following you and saying to myself I could have a go at that so I’m going to. Thanks for all your useful information, it’s very much appreciated. X
Thanks Lesley
Thanks for all this helpful information. Every video you put out I find helpful in some way. I have about 20 years until I'm retirement age (wow, time is just flying by!) but it gives my husband and I consistent time to think about our retirement needs. Your tips and insight are very helpful. Thanks!
Words of wisdom Jane...
Thanks very much
Thanks Jane wise words its a pity we have mad politicians here on all sides, it seems one step forward two steps back. I follow your frugal ways as its no use whining its up to me and my husband to try and enjoy retirement, but once you get your state pension your tax allowance iseaten up and any private pensions are taxed so you have to take that into account.If i win the lottery ill let you know. God bless x
It’s to compensate for the tax we didn’t pay when we worked as our contributions were tax free. They get the money eventually but it’s a lesser amount than we would have paid if our pension contributions were not tax free. To make you feel better our total tax contributions are over40% here in France
Great video as always! Thanks!
Thanks for watching!
Thank you both for your wisdoms Have a good day 😊
Thank you too!
Just leaving a comment.
Fabulous video!
Many thanks!
Even people who think they won’t retire …. WILL retire. You can’t plan on not needing to do so. I have a friend who had a personal retirement and with medical bills chose to break into that and then she herself developed Parkinson’s. She would love to work but cannot. Another friend says she won’t retire and spends hundreds on lifestyle. But again, a friend of mine who is the doctor for 9 nursing homes insists « we all retire, whether we want to do so or not! «
We will all retire.
I hope one day you can do a video about the choice to move away from family. We cannot get our saved for pension until we are 60 so we are saving and building side incomes to retire before 60. We have an enormous amount of capital in our house but I can’t imagine moving away from family. Also since house prices are through the roof and a rental crisis it will be a few years before my kids move out. They do pay board. Love your videos, I am always on the same wavelength and I really respect your opinions. I also want to shout out to Mike, I love the music in the videos.
Thanks very much for watching
We learn new things regularly, to avoid paying contractors to do for us.
Brilliant
I would LOVE to retire, and I'm in a pretty good place financially, but not good enough to retire and I don't know if I will ever be able to get there. Even with no debt and saving & investments it just doesn't seem to be doable.
It is doable because people do it.
I think your doing great, and in a short amount of time you’ll have the other pension, if I understood you right?
I get my second pension in 10 years.
Another great video
Glad you enjoyed it
Raising 4 kids and sending them to private school and college made it difficult to save a lot in retirement accounts. We worked 4 jobs just to send them to school. We just paid off mortgage and no debt. Im self employed and my husband retires early with a great pension. We are now able to save a lot more for the future so I’m not to concerned. There are some renovations we need to make on house but we will pay as we go. With all the years of severe frugality we are now ready to loosen the purse strings! We made it 🎉🎉
Thanks for watching
Do your budget book comes in english? if so, please post the link.
Go to Amazon and type in budget book, buy the one you like.
Government old age pensions are means tested in Australia and are not universal. Firstly you have to be 67 years old to be eligible. Then when you apply, you are subject to either an assets test or an income test. You are clobbered, by whichever is the higher amount. It’s a tricky balance having just the right amount at 67, so one can still be eligible for state and federal health care cards and even a meagre part pension to supplement your own savings in private superannuation. The worst situation is to be right at the cut off thresholds for any Government pension whatsoever. People are effectively punished for saving conscientiously for retirement, as the government deducts money off the government aged pension for every thousand dollars you are over the allowable thresholds. It utterly disincentivises people to save beyond the threshold amounts, as the more money you save, the more the government deducts off the Aged Pension and you can be worse off than if you had saved less but not exceeded the eligibility thresholds.
That's not a great system
Stinks hey
That is really awful!
The one thing that most people don't see coming in retirement is long term care. We were all set, had saved enough, had a good plan and along came Alzheimer's. Two weeks ago, I had to place my 71 year old husband, who is in excellent physical health in long term care. His mind is completely gone. And, now I have no way to figure out how long our money will last or what the future holds. I have told my kids, who are in their 40's that they need to be thinking about this now for their future. They need to plan for long term care before it's too late, like it is for my husband and I.
I wish you well
@@FrugalQueeninFrance thank you
I don't think I'll make it to pension age but I'm prepared if i do. I have no debts (thank you Jane) or mortgage now, I will have the money for the remainder of the roof at the end of the year, then there are 4 windows to replace ( a want rather than a need). that would give me 3 whole years to get a healthy emergency fund behind me
Thanks very much for sharing
👏👏💐
I am woefully underprepared
I Hope you find ways and means of preparing. I wish you well.
Amen :-))
People in France are losing their minds because the president is raising the retirement age from 62 to 64. People are living longer so that makes sense. In the U.S. the age for full social security has been raising as the population lives longer. Once upon a time it was 65 and now it is 67.
Fact check for you. 25% of all the poorer people in France die before they reach 62 so not everyone is living longer. When you take ALL of our French taxes of social charges, self employment tax, income tax, property taxes, into consideration we pay over 40% of our income to taxes. You have to pay that for 40 years to get that pension. There are no tax free saving schemes like a Roth IRA or 401K so the French are not 'losing their minds' which is extremely rude of you to say but fighting for a constitutional right.
@@FrugalQueeninFrance I am truly sorry, I did not intend to offend anyone. Thank you for educating me on some of the statistics. We too have a lot of the same taxes to pay and we are slowly losing our middle class too.