So so true. My hubby and son just lost Thier jobs. We are in our 50s with three kids still home one only one earning now so are on Emergency mode. we put every penny into our mortgage and own our home so that's a huge blessing
My husband is a schoolteacher. He likes to play golf and he plays about 4 times a year. Last time he went he saw that they were looking for volunteers and in exchange one gets free golf. He has just completed the paperwork to do that! We love finding cheap or free ways to do the things we want to.
I am a retired school teacher in the United States. I have a good state teacher's retirement in California. If I had debt, I would not be able to afford to be retired. While I make less money each month Being retired, I am actually better off financially because I took the time to learn about/implement ideas like emergency funds, sinking funds, budgets, etc. Retirement is the best. I wish it for everyone.
People who their lives by what “ they “ say seem to be more unhappy about living in retirement. Toomany let society tell them what retirement should be and it causes them stress. It can be said work harder or want less. We choose to want less. Living on less was a goal so we started many years before we retired. Here in the states one can find out what thier social security will be so we used that as a guide. You are so correct! Be prepared . And be debt free. We are already in our 70 s and even in retirement we are open to change as we age. I know so many who are rigid as to what retirement should be. And when life happens they cannot move on. they become bitter . 😊
My partner and I are in the US. I retired about 2 years ago at my full retirement age. He retired back in 2009 as the company he was working for closed - took his social security early. We had lived below our means for 40 years. During those years, we socked everything we could into 401(k)'s while saving enough to buy our home cash. We are now living comfortably. We dine out twice a week and vacation, domestically, twice a year. We are loving life! We do follow a strict budget. We only go to the 401(k)'s to have work done around the house.
My mum and dad we're on low played jobs ,mum saved she went to the white sales to top up her bedding ,had dental work done bought a new car then before retirement they bought a holiday static on the coast she was so proud to have a little retreat to have weekends away ,she planted Easter flowers and daffodils bulbs but for all her forward thinking and preparation she never saw her blooms appear ,,,she died of cancer my dad was in despair at the seemingly unjust end of her life she was 56 years old no debt no mortgage and everything to look forward to ,in a perfect world all you advise is good but not for all , one thing l learned from her example was work hard pay your bills ,save a bit and spend a bit and plan ahead as one never knows what's around the corner.
I am retired, 65 and doing well, but you are absolutely correct, even though I do have my financial ducks in a row, I still budget. Going on spending sprees, wasting money, would be foolish, but planning is everything 🥰💐🌞🌛💗✝🇺🇲
Wonderful! I'm sitting on the balcony overlooking the ocean and hand sewing after having taken a good walk on the beach and a nap,lol! 😂 I love retirement and will pick up some part-time work soon as I loved my job and like to be a little busy. I also like some extra cash. 65, retired in Thailand, English teacher and mother of 12 kids, they put together a pension for me. ❤
a lot of common sense and home truths in this video Jane - I'm that sandwich generation you talk of, 2 year old Grandson that we only occasionally help out with as we are both still working at 63 & 59, his other Grandmother has him twice a week as she is 64 and retired. We are also looking out for my Mum aged 90, as my 93 yr old Dad has just gone into a care home, Ive just done a new budget for her as they are taking 75% of his pensions to go towards care home costs, and they've just taken away the Winter fuel allowance for all pensioners other than those already on a low income - my boys have only just bought their first homes in their early 30's after years of saving for a deposit, there is already talk that my grandson maybe an only child as 2 salaries are needed just to survive - so very different to their parents as we were early 20's when we got our first mortgage and Id had both children by the time I was 28, and always worked, albeit part-time but increased the hours as they got older - sorry for War & Peace, this has really resonated with me today, take care both xx
I am so grateful for my part time job. I work part time as a school secretary. I don't get paid in the summer. We managed by being as frugal as I can all year. I go back on Tuesday, August 20th and I can't wait to get a paycheck in two weeks!
Thank you for everything you said. But most especially for how you said it. Positivity is in such short supply here in America 🇺🇸 at the moment . But I refuse to give up or give in. I will do the very best I can and thank God for every day I get to try again. God bless you and Mike. Keep up the good work. It's important.
My working life only started properly in my 40s. Prior, I was a full time carer to my disabled son, now an adult & who will always need support. My husband, who's deceased never saved, as his mantra was "you can't take it with you when you're gone". Well, he's gone, passed quickly from stomach cancer & I was left with a lot of debt. Anyhow, I'm 60 soon, debt free with a small amount of savings (approx. £20,000) we never had a mortgage as my late husband didn't want to go down that path as he'd had a house repossessed long before I met him.... I'm lucky that I've worked for a local authority for the last 10 years.... so hopefully will have something to live on.... but I feel that I'll have to continue to work beyond 67 as I'll still have rent to pay.... x
@@FrugalQueeninFrance Ah... yes, I am... & I'm very grateful. In an ideal world, I would've loved to have been able to have bought a property, to be able to leave for my boys.... but I'm grateful that I can afford to pay my rent/bills & save some money per month.... I've cardiac Sarcoidosis, so have to travel to the Royal Brompton in London several times a year... but like yourselves, I do a written budget every month & also just wanted to say, I really enjoy watching your channel.... thanks for all your hard work... x
🏴❤️🏴 My husband and I care for my 88year old mother, no easy task at 65 with brain cancer, makes life very tough for my husband as he’s now carer to us both, 🏴❤️🏴
I hope your husband can't get some help to. I took care of my husband when he was sick for a lot of years and it takes a great toll on your body and your emotional health. Saying a prayer for all of you 🙏🏻
yes, the traditional idea of retirement is changing fast. It looks like most of the people currently under 65 will have to keep working at least some type of part time job well into their senior years, due to the high cost of living, taxes and medical expenses. love your videos. Thanks
I'm in my 70s and live alone out in the country on the old family homestead I inherited in the WVa mountains (U.S.) . The cost of living back here is fairly reasonable, but I need to start saving more for those big household and car repairs etc. Your podcast has helped me address this challenge better. Thanks! ❤ My older brother has some mobility issues and lives alone next house over. We often pool resources which is quite helpful to both of us. I moved back here at age 60 from the big city. (I have no intention of moving away as long as I have the strength and mobility to manage here.) We have a younger friend, April, who comes in to help deep clean our homes occasionally and her younger brother Rob mows and trims the big open swath around our houses etc. They need the income and we need their help! I still mow and garden around my own yard but he helps if it gets a bit much for me. I've been practicing frugality for years and, by the end of this month, I should have everything paid off and be living a thrifty and debt-free life once again ....and will have purchased a newer car with cash to replace my 15 y.o. one that has become a rust bucket. I've limped along with the old one keeping it going WAY past where I should until newer used car prices came down after Covid and I had the cash to buy one. I'd advise younger people who are still working to save and invest all they can even if money is tight! Don't be pressured by peer expectations to overspend. I actually enjoy being frugal and not wasting much. So it's basically a " no spend month" most of the time!
I love hearing your story. I live out in the country in Vermont, lots of people here are from generations of “make do and mend”. We all swap produce during the summer and offer up stuff we don’t need to our neighbors.
We retired debt and mortgage free. We did without to get to that situation like you say no dining out except for birthdays taking low cost holidays, and we have continued living frugally, by living like this we can afford to travel but not five star hotels mainly self catering. We are 83 and 74 ten years ago we made the garden easy care while we were still able to do it ourselves. We spend the summer in Scotland as we enjoy walking but can no longer do the Munro’s but there are still lots of walks, but in the winter we head for the sun, we worked in South Africa for nearly thirty years, not through choice but due to no work in the uk, so we spend the uk winter there. I like the fact that you realise as you get older you slow down and are not able to do as much, but if you are lucky, and luck is very important, you can continue to enjoy a very fulfilling life.
I think I should have made it clearer in the video that those people in their 40s unable to buy a home are likely to be worse than broke in old age, they’ll have none of the opportunities we’ve had.
I put 15 years into my 401k and I ended up with $657 a month. I put 15 years with the government and I get about double that. People need to save as much as they can and need to choose a financial advisor as carefully as a surgeon. Blessed to be debt free, receiving social security, so my retirement is comfortable, but I carefully have to maintain my sinking funds and emergency fund. Prices keep rising and we work to stay in budget. In our 70’s we do not care to work again. We have 2 homes we rent. Those have mortgages (both can be sold if we need it for long term care). I am stunned when I hear people my age maintaining debt!
Thank you Jane Mike Dolly and Mary. Everything keeps going up in costs, I am thankful you make good videos about how to help with this. Thank you ,so much.
Having grown up in France, I moved to the UK so my daughter would speak English properly. This was supposed to be for 2 years but it's now 26 years later :D I always thought I'd retire back to France but I have autoimmune conditions including arthritis, and I have a lifetime tenancy in my housing association garden flat.... I'm not sure I'd be able to get the same benefits in France as I do here, so I guess I'll be staying after all. My NHS pension is TINY as I lost years to a ruptured brain aneurysm and working part-time. I can't get my state pension for another 18 months. I'll be ok, but it's certainly not how I thought things would go :D
I’m sorry to hear this although I’m glad you’ve got a housing association property. Imagine if you were in private rented with no security? Thanks for watching
OMG, I wish we started to watch your channel a year ago. We would have been better prepared for sure. Great channel. Love watching and will deffo still be watching from now on. Rob and Lisa
Was a bit surprised to hear you say you would be moving to another house by the time you are 70 but I do understand your reasons. I downsized to a much smaller property at 70 and have never regretted it. I have a small garden which I can manage myself, the property is cheaper and easier to run and maintain and in a position that will allow me to remain here well into my older years. It is also on a bus route to all the places I may need to go on a day to day basis.
I retired with a good pension and now i babysit my grandson 3 days a week. Unfortunately, the economic reality my kids and their generation find themselves in makes affordability much more difficult.
My husband is a teachers but because he works in a private school there is no pension :( We are 3 years from retirement and plan to retire as soon as we can collect social security because of my husband's health and mobility issues. We plan to downgrade from a house to an apartment and move to a lower cost of living country. I am learning so many skills, many of them thanks to you, Jane and Mike, I am budgeting, living on less, planning my meals and saving as much as I can. I also read Dave Ramsey's book and implemented many of his steps. I am glad that we paid off the mortgage, got ourselves out of debt and have university savings for our son. I am planning my life with him in it, he is a teenager now but he will be invited to live with us for as long as he wants to, things are so tough for young adults now and I will always provide him with a home. He is learning to run a dog sitting business as part of his home schooling, and he is savings much of his income. I am teaching him money management and budgeting. We became parents in our mid forties through adoption.
@juliemoore6957 it's great for grand children to have a relationship with their grandparents but their main carers ideally should be their parents. It's lovely for grandchildren to holiday with grandparents or spend weekends with them. The thought of being a carer for young children all week long in retirement isn't for everyone. Most grandparents like the fun stuff and then give them back to their main carers, their parents.
Your kids are lucky to have you. I hope if my daughters have kids I can help them in some way like you are doing for yours. We raised kids far away from family and it’s something I was sad for. We didn’t need them for child care but it would have been nice to be closer.
@@FrugalQueeninFrance I agree for the most part. I was fortunate enough to stay home for most of my children's growing up years. As a hairdresser, I could do a few clients at home and keep my hand in.
Delayed retirement for me! At 63, will have debt paid off next year but not mortgage-free. I'll have some retirement savings but not much. I have a work pension, and, as a Canadian, will have CPP and OAS. Still too tight and I have a list of expenses (plumbing, flooring, dental work, etc) to cover before I give up my paycheck. Looks like I'm working till at least 67 (more like 70). Best thing about my situation as a single person is that my mortgage payments are low and I am not subject to the expense and scarcity of rental housing. Plus, I have the equity in the home should I need / want to change my living situation.
We don't travel on big trips or do crusies. We do more local short vacations. We helped raise our grandchild, who as an adult has serious health issues and can not work or go to school. His mom is single and we use some of our retirement on our grandchild's medical and living expenses. I would rather do this as oppose to traveling. We still save and pay bills, have hobbies, and eat out ocasionally. We are being more frugal with clothing, food, and general living expenses. We find free or cheaper ways to find things to do. Thanks for your videos.❤❤❤❤
We did it willing to help out my daughter and her child. It made their life better and ours, too. I would make the same choice again. Luckily we had pretty good health. @FrugalQueeninFrance
Such a great video! (I always hit the like button before I even start watching!) I am the same age as you are, Jane, and looking seriously at what retirement will be like for my husband and I. Our savings are sorely lacking because he went without a job for 2.5 years, after getting laid off, and we had to use all of our retirement savings to not lose the house. I try to incorporate every idea you and Mike share with us and am thankful I know how to sew and cook from scratch, plus grow a lot of our own food. Also, just like you, I have already determined that I will not be living in our current house by the time I am 70. We currently live in the country, at the top of a steep hill. I want something with a nice flat driveway, and a bit of flat land ( we don't have so much as a square foot of even ground around our house!) and I will be happy!
You are so right, saving now, means having choices later. If you are elderly with no money and an emergency comes along, what will you do? Never mind Plan B, there is no Plan A!
One money problem is transportation. After driving our car for 14 years, it was time to replace it. New cars are so expensive, so even a used version is still expensive. Most places don't have public transit.
Not everyone has the ability to prepare so well for retirement like you're talking about. My husband died when he was 51 years old, after an 8-year long cancer illness, and I was already disabled from my job for a year when he passed away. Although I was blessed with life insurance it only lasted so long and now I am almost 64 years old and I still have a mortgage and a lot of credit card debt. My mother lives with me so we combine expenses, but with the inflation that's going on it's almost impossible. So planning definitely helps but life doesn't always go the way you plan.
Great Video Jane, lots of great tips for people with a few years to retirement to implement. At nearly 74 I am drawing pensions already but do still work a few hours a week but looking to probably give that up at the end of this year. I have a full state pension and 20+years NHS pension which is the income I live on. I also have savings in ISA wrapper that I could draw on if need be. Thankfully I am debt and mortgage free. In the run up to semi retirement I did any major work to my home and changed my car. I then made myself live on what I knew would be my retirement income for a year to get use to it and iron out any of the income/ outgoings blips. This set me up with a great routine when I did semi retire in 2012 , since then I have gradually reduced my hours further. I continue to save a little money each month and have managed not to need to dip into my long term savings. I hear people say I will never be able to retire but they are no prepared to cut back and prepare for their retirement. To me a big mistake because if you cut back slowly it is not such a great shock when your income suddenly disappears.
Living on a pension would be tough if we had to pay rent, but we do have to plan and save up for things, we don’t go out for meals very occasionally have takeaway pizza or good old fish n chips, loving the doggies Jane, so adorable
I have been away the past week, caring for my nearly 90 year old mother, it isn't easy! When I retire, my pension won't be that great for the first couple of years, until my state pension kicks in, so I will have to be careful, but a lifetime of frugality will make it manageable for now. Being debt free had to be my priority in recent years, and I have no regrets over putting every spare penny into paying off the mortgage early. My pensions are slightly odd as in the earlier years it was defined benefits schemes, and now it is defined contributions, so the picture is complicated. I guess a lot of people must be in that position, plus having money in various different schemes.
Here in the USA in retirement we have Medicare and a 2nd health insurance that we pay for both. Unfortunately neither one of them cover the entire health care bill. So we try and take care of ourselves and hope a serious illness doesn't come our way. Other than that we do a good job of not spending money wastefully.
You need a Medigap Supplement Plan N or a plan G. Those pay for most everything that Medicare doesn't. Plan N is quite affordable and the rates are very stable.
I was intrigued with your quilting. I have made nine square quilts and denim quilts in the past, but not a scrappy quilt. Do you pre-cut the squares from scrap fabric? I am thinking old sheets (which I use to cut out test garments when sewing with a new clothing pattern to be sure the pattern will fit so I don't waste expensive fabric). If so, what size are the squares? Thank you for all of your and Mikes videos. I truly enjoy them. They are down to earth and show the real side of being retired. May you have many happy, healthy and blessed years.
The hubby is 77 years old and I just turned 70. We moved 7 years ago to a smaller house with very few steps. My vehicle needed lots of repairs so I sold it privately and bought that Honda. Honda is paid off and we have no other debt but the mortgage. I am making the payment each month . I would love to have our mortgage paid off. It's something we are working towards but $83,000 seems like forever right now.
@@isabelsebastiao-vieira2152We are paying our normal payment monthly plus $100 to $200 each month towards principle. Just going very slow. No other debt.
Great advice. 67 is retirement age for social security in US. Health insurance kicks in at 65 on Medicare. Im gearing up for these in the next 10 years so im getting serious about lifestyle changes. Debt free but a house still requires money. Im working on plans for future expenses and improvements while still working. I like that you talked about plans for later because we don't always think that far ahead to 70. Retirement is the goal and we haven't planned for more.
so nice to to see that beautiful, thick and healthy hair! I made sure I was zero debt before I retired. I had a full time teaching with several side jobs for decades.
My sister and I were sent on a bus 🚌 (an 8 -12 hour ride, milk run type, multiple stops), up to my grandparents house for the summer, because older siblings had jobs, and mom and dad worked full time and dad had a second job as well. My son's father in law retired and looks after my grandson anytime they need. We live across country from them, so we get seldom visits. I wish for more time with them, but we can't afford $1500-$2000, flights round trip regularly. Especially if it's only a few days. We also need lodging there, and a rental car. So now we are at $3000 minimum. We chose to relocate to our cabin, so much cheaper to own. We have insulated, put in new windows, doors, roof. We put in woodstoves and then 5 years later we added alternatives for heating. We have a propane wall heater, and electric panel style wall heaters in each room. We also added on demand water heater, we added raised beds to the garden, put in fencing around it. We added fruit trees and bushes. We are adding perennial flower and herb beds. We did just buy our last automobile, as well,3 years ago. We ordered exactly what we needed and got a good deal, and traded in our 2 cars for a hefty down payment. We are making payments for 1 more year, but we got 1.9% interest rate, and I have a few more years of my disability insurance payments to cover it. So we will have what we need going forward to age in place, in an affordable community.
We are worried in the uk because word on the street is that if you have a private pension you won't get the government pension because it's said that's a benefit.
We are lucky that we have Kiwisaver in NZ where your employer and you pay a percentage of money into a fund each pay day and you can access it when you turn 65. Hubby and I paid off our mortgage at 46 years old and now saving furiously for our retirement.
Enjoying your uploads. Like that you've planned to enjoy your present abode but have your exit strategy when time is right. I hope you're making the best of your current location. I'd really like to see some lifestyle content of what Brittany offers - completely vicarious of course given we live in Australia.
Wise advice on retirement preparation. It's certainly very hard for many people these days to retire before state pension age, many are struggling to save for retirement.
Currently working on getting out of debt before retirement. Unfortunately, due to unexpected things happening we’ve been put back at the beginning again. But it’s a learning experience.
I do not understand that you think that you will not be able to bring logs in daily after you are seventy. I heat solely with logs and I am 77. And I am not complaining. I will own up to the fact when my logs are delivered I do have help (unpaid help unless you include supplying welsh cakes and biscuits). However, I do bring up all my logs. I normally do log hauling four times a week. Seven steps from my front door and then another four down to the cellar. The only other exercise I do is walking. It’s a countryside of up’s and downs.
@@FrugalQueeninFrance I moved her with my late husband when I was only 53. He was seventy. He was happy to use a chain saw and cut logs and he did so until he was eighty. I do understand about being fed up with doing stuff and I suppose it is why some people eat out and have take out! Where I live it is not unusual for oldies to be cutting and hauling logs in their eighties. The joy of S W France
I think it's good to plan. My very fit cousin retired to the country at 60. She hiked, rode her bike and moved to a beautiful but very hilly site. 5 years in she has developed a rare neuropathy that is already causing her problems walking. It's devastating - and they are having to rethink their plans for the future. My parents on the other hand retired to the seaside from a remote country village - they were further away from us, but closer to hospital, GP, shops etc. it was a great decision!
As you know I had dental implant surgery last week. I bartered to get my stitches taken out last night. I usually put them in and take them out on my own but I can't see to take them out of my mouth 😂😂😂
I retired from my job as an RN almost 3 years ago. Have been working part time outside of the medical field, as I let my license expire. Going on Social Security in a few months. I will make more on Social Security than working. I know it's wierd. I am mortgage and debt free. Not sure if I will keep the part time job or not. Financially, don't need it, but might reduce my hours even more for just some "fun" money.
In my country the retirement age is 67. By the time I retire, it will be 68. So I have 12 more years to go. I can retire at 66, but the "penalty" is hard comparing to waiting till 68. I am working in the state school system, started a couple of years ago, so that gives me a secure and better pension.
At seventy seven YO widow,the house is paid for, no credit card debt, no car payments, drive a ten yo car, low utilities ,have grid tied solar. If this was the other way I’d be In deep do do!
I am so very glad to hear that you plan to leave your current location at 70, before you get too infirm to sustain it. The improvements you have already made to it will increase it's value. Well done you! I am so glad that I have an emergency fund, as the unexpected always happens! I am retired. This week my washing machine died on me! Back to hand washing every other day, then! Bought a new machine which should arrive Thursday next week. But I'm not letting the washing pile up because - there is a chance it might not arrive! One never knows! PPPPP as military types say! 😂😂
In America the only people with a pension in addition to SS are for the most part government workers including public school teachers or union members. They are the only ones who can retire in their 50's. The rest of us either can put money into a retirement fund and hope the employer gives some ratio of contributions. And then there are many people who only live pay check to pay check and can't plan ahead. America used to have more pensioned employees until the 1980's. Then employers started cutting back and health insurance for retirement became mandatory medicare for most. Sad. Money doesn't go far at all. Things are 30 to 60 percent more expensive these past 3 years. I don't know how most will handle retirement. I believe many here will never be able to retire.
@@lynnbrown9164 not the reality for most people. Most people younger than me will have nothing saved as their rent, food and basic bills are 100% of their income
We are retired and our retirement income is below minimal wage which factually puts us below the French poverty level. The video title is retired and broke, which most retirees are. The video is about preventing that if you're still working and making the best of the situation if you are.
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So so true. My hubby and son just lost Thier jobs. We are in our 50s with three kids still home one only one earning now so are on Emergency mode. we put every penny into our mortgage and own our home so that's a huge blessing
Sorry to hear that
My husband is a schoolteacher. He likes to play golf and he plays about 4 times a year. Last time he went he saw that they were looking for volunteers and in exchange one gets free golf. He has just completed the paperwork to do that! We love finding cheap or free ways to do the things we want to.
That is awesome!
I am a retired school teacher in the United States. I have a good state teacher's retirement in California. If I had debt, I would not be able to afford to be retired. While I make less money each month Being retired, I am actually better off financially because I took the time to learn about/implement ideas like emergency funds, sinking funds, budgets, etc. Retirement is the best. I wish it for everyone.
Thanks for sharing. I wish pensions were available for everyone
Hello from North Carolina,
I am in lucky that I too have a retirement from the state from teaching.
I was self employed but careful with money. Saved and had Iras. BLESSED
People who their lives by what “ they “ say seem to be more unhappy about living in retirement. Toomany let society tell them what retirement should be and it causes them stress. It can be said work harder or want less. We choose to want less. Living on less was a goal so we started many years before we retired. Here in the states one can find out what thier social security will be so we used that as a guide.
You are so correct! Be prepared . And be debt free. We are already in our 70 s and even in retirement we are open to change as we age. I know so many who are rigid as to what retirement should be. And when life happens they cannot move on. they become bitter . 😊
My partner and I are in the US. I retired about 2 years ago at my full retirement age. He retired back in 2009 as the company he was working for closed - took his social security early.
We had lived below our means for 40 years. During those years, we socked everything we could into 401(k)'s while saving enough to buy our home cash. We are now living comfortably. We dine out twice a week and vacation, domestically, twice a year. We are loving life! We do follow a strict budget. We only go to the 401(k)'s to have work done around the house.
@@carolcasassa160 thanks for sharing
My mum and dad we're on low played jobs ,mum saved she went to the white sales to top up her bedding ,had dental work done bought a new car then before retirement they bought a holiday static on the coast she was so proud to have a little retreat to have weekends away ,she planted Easter flowers and daffodils bulbs but for all her forward thinking and preparation she never saw her blooms appear ,,,she died of cancer my dad was in despair at the seemingly unjust end of her life she was 56 years old no debt no mortgage and everything to look forward to ,in a perfect world all you advise is good but not for all , one thing l learned from her example was work hard pay your bills ,save a bit and spend a bit and plan ahead as one never knows what's around the corner.
I’m sorry for your loss. Very sadly 25% of people don’t make it to retirement but that means 75% do.
I am retired, 65 and doing well, but you are absolutely correct, even though I do have my financial ducks in a row, I still budget. Going on spending sprees, wasting money, would be foolish, but planning is everything 🥰💐🌞🌛💗✝🇺🇲
It would be indeed
Wonderful! I'm sitting on the balcony overlooking the ocean and hand sewing after having taken a good walk on the beach and a nap,lol! 😂 I love retirement and will pick up some part-time work soon as I loved my job and like to be a little busy. I also like some extra cash. 65, retired in Thailand, English teacher and mother of 12 kids, they put together a pension for me. ❤
Thanks
a lot of common sense and home truths in this video Jane - I'm that sandwich generation you talk of, 2 year old Grandson that we only occasionally help out with as we are both still working at 63 & 59, his other Grandmother has him twice a week as she is 64 and retired. We are also looking out for my Mum aged 90, as my 93 yr old Dad has just gone into a care home, Ive just done a new budget for her as they are taking 75% of his pensions to go towards care home costs, and they've just taken away the Winter fuel allowance for all pensioners other than those already on a low income - my boys have only just bought their first homes in their early 30's after years of saving for a deposit, there is already talk that my grandson maybe an only child as 2 salaries are needed just to survive - so very different to their parents as we were early 20's when we got our first mortgage and Id had both children by the time I was 28, and always worked, albeit part-time but increased the hours as they got older - sorry for War & Peace, this has really resonated with me today, take care both xx
No it's fine, younger people I know will never afford children
I am so grateful for my part time job. I work part time as a school secretary. I don't get paid in the summer. We managed by being as frugal as I can all year. I go back on Tuesday, August 20th and I can't wait to get a paycheck in two weeks!
At 76, my opinion on having a good retirement is to absolutely avoid debt. Then you can live on much less.
Well said and owning your own property that the younger people never will
Thank you for everything you said. But most especially for how you said it. Positivity is in such short supply here in America 🇺🇸 at the moment . But I refuse to give up or give in. I will do the very best I can and thank God for every day I get to try again. God bless you and Mike. Keep up the good work. It's important.
@@carolverbeerst2348 thanks so much
My working life only started properly in my 40s. Prior, I was a full time carer to my disabled son, now an adult & who will always need support. My husband, who's deceased never saved, as his mantra was "you can't take it with you when you're gone". Well, he's gone, passed quickly from stomach cancer & I was left with a lot of debt. Anyhow, I'm 60 soon, debt free with a small amount of savings (approx. £20,000) we never had a mortgage as my late husband didn't want to go down that path as he'd had a house repossessed long before I met him....
I'm lucky that I've worked for a local authority for the last 10 years.... so hopefully will have something to live on.... but I feel that I'll have to continue to work beyond 67 as I'll still have rent to pay.... x
I hope you’re in a housing association property so you have security?
@@FrugalQueeninFrance Ah... yes, I am... & I'm very grateful. In an ideal world, I would've loved to have been able to have bought a property, to be able to leave for my boys.... but I'm grateful that I can afford to pay my rent/bills & save some money per month.... I've cardiac Sarcoidosis, so have to travel to the Royal Brompton in London several times a year... but like yourselves, I do a written budget every month & also just wanted to say, I really enjoy watching your channel.... thanks for all your hard work... x
Have you checked out if you could claim PIP for your health issues? It's not means tested and you can claim even if you work.
🏴❤️🏴 My husband and I care for my 88year old mother, no easy task at 65 with brain cancer, makes life very tough for my husband as he’s now carer to us both, 🏴❤️🏴
Sorry to hear that, no care available for either of you without paying a ton of money for it.
So sorry that you are in that situation. Sending you a virtual hug.
I hope your husband can't get some help to. I took care of my husband when he was sick for a lot of years and it takes a great toll on your body and your emotional health. Saying a prayer for all of you 🙏🏻
yes, the traditional idea of retirement is changing fast.
It looks like most of the people currently under 65 will have to keep working at least some type of part time job well into their senior years, due to the high cost of living, taxes and medical expenses.
love your videos. Thanks
Thanks, it's sadly what will happen, most people will die whilst still working
I'm in my 70s and live alone out in the country on the old family homestead I inherited in the WVa mountains (U.S.) . The cost of living back here is fairly reasonable, but I need to start saving more for those big household and car repairs etc. Your podcast has helped me address this challenge better. Thanks! ❤
My older brother has some mobility issues and lives alone next house over. We often pool resources which is quite helpful to both of us. I moved back here at age 60 from the big city. (I have no intention of moving away as long as I have the strength and mobility to manage here.) We have a younger friend, April, who comes in to help deep clean our homes occasionally and her younger brother Rob mows and trims the big open swath around our houses etc. They need the income and we need their help! I still mow and garden around my own yard but he helps if it gets a bit much for me. I've been practicing frugality for years and, by the end of this month, I should have everything paid off and be living a thrifty and debt-free life once again ....and will have purchased a newer car with cash to replace my 15 y.o. one that has become a rust bucket. I've limped along with the old one keeping it going WAY past where I should until newer used car prices came down after Covid and I had the cash to buy one.
I'd advise younger people who are still working to save and invest all they can even if money is tight! Don't be pressured by peer expectations to overspend. I actually enjoy being frugal and not wasting much. So it's basically a " no spend month" most of the time!
Thanks for sharing
I love hearing your story. I live out in the country in Vermont, lots of people here are from generations of “make do and mend”. We all swap produce during the summer and offer up stuff we don’t need to our neighbors.
We retired debt and mortgage free. We did without to get to that situation like you say no dining out except for birthdays taking low cost holidays, and we have continued living frugally, by living like this we can afford to travel but not five star hotels mainly self catering. We are 83 and 74 ten years ago we made the garden easy care while we were still able to do it ourselves. We spend the summer in Scotland as we enjoy walking but can no longer do the Munro’s but there are still lots of walks, but in the winter we head for the sun, we worked in South Africa for nearly thirty years, not through choice but due to no work in the uk, so we spend the uk winter there. I like the fact that you realise as you get older you slow down and are not able to do as much, but if you are lucky, and luck is very important, you can continue to enjoy a very fulfilling life.
I think I should have made it clearer in the video that those people in their 40s unable to buy a home are likely to be worse than broke in old age, they’ll have none of the opportunities we’ve had.
@@FrugalQueeninFrance If they are lucky, they will inherit, but fewer and fewer homeowners now, I think.
@@preppernut few will inherit anything, especially in the UK, it only takes a year in a care home to use up the proceeds from the sale of a house.
I put 15 years into my 401k and I ended up with $657 a month. I put 15 years with the government and I get about double that. People need to save as much as they can and need to choose a financial advisor as carefully as a surgeon. Blessed to be debt free, receiving social security, so my retirement is comfortable, but I carefully have to maintain my sinking funds and emergency fund. Prices keep rising and we work to stay in budget. In our 70’s we do not care to work again. We have 2 homes we rent. Those have mortgages (both can be sold if we need it for long term care). I am stunned when I hear people my age maintaining debt!
Most British people live off their £220 a week government pension with no savings at all, they had low pay jobs so couldn’t save
Time for gardening! YESSSS!
Thank you Jane Mike Dolly and Mary. Everything keeps going up in costs, I am thankful you make good videos about how to help with this. Thank you ,so much.
Our pleasure!
Having grown up in France, I moved to the UK so my daughter would speak English properly. This was supposed to be for 2 years but it's now 26 years later :D I always thought I'd retire back to France but I have autoimmune conditions including arthritis, and I have a lifetime tenancy in my housing association garden flat.... I'm not sure I'd be able to get the same benefits in France as I do here, so I guess I'll be staying after all. My NHS pension is TINY as I lost years to a ruptured brain aneurysm and working part-time. I can't get my state pension for another 18 months. I'll be ok, but it's certainly not how I thought things would go :D
I’m sorry to hear this although I’m glad you’ve got a housing association property. Imagine if you were in private rented with no security? Thanks for watching
OMG, I wish we started to watch your channel a year ago. We would have been better prepared for sure.
Great channel. Love watching and will deffo still be watching from now on.
Rob and Lisa
@@Escapetofrance-Charente email any time,
@@FrugalQueeninFrance You may live to regret that offer lol
@@Escapetofrance-Charente you're welcome, frugalqueeninfrance@gmail.com
Your BEST video yet ! I will be rewatching and sharing!
Yay! Thank you!
Was a bit surprised to hear you say you would be moving to another house by the time you are 70 but I do understand your reasons. I downsized to a much smaller property at 70 and have never regretted it. I have a small garden which I can manage myself, the property is cheaper and easier to run and maintain and in a position that will allow me to remain here well into my older years. It is also on a bus route to all the places I may need to go on a day to day basis.
We have 2.2 acres of garden to maintain. We’ve watched older people tied to their property and never go anywhere or do anything.
I retired with a good pension and now i babysit my grandson 3 days a week. Unfortunately, the economic reality my kids and their generation find themselves in makes affordability much more difficult.
Without free care, they’d not afford children
These videos are a breath of fresh air!
Thanks very much
My husband is a teachers but because he works in a private school there is no pension :( We are 3 years from retirement and plan to retire as soon as we can collect social security because of my husband's health and mobility issues. We plan to downgrade from a house to an apartment and move to a lower cost of living country. I am learning so many skills, many of them thanks to you, Jane and Mike, I am budgeting, living on less, planning my meals and saving as much as I can. I also read Dave Ramsey's book and implemented many of his steps. I am glad that we paid off the mortgage, got ourselves out of debt and have university savings for our son. I am planning my life with him in it, he is a teenager now but he will be invited to live with us for as long as he wants to, things are so tough for young adults now and I will always provide him with a home. He is learning to run a dog sitting business as part of his home schooling, and he is savings much of his income. I am teaching him money management and budgeting. We became parents in our mid forties through adoption.
You're doing great
You just described my husband and I. Just retired, and 2 new grandsons. We'll be providing daycare soon.
Sounds like my idea of absolutely hell but enjoy. It just goes to show that young people can’t afford childcare.
@juliemoore6957 it's great for grand children to have a relationship with their grandparents but their main carers ideally should be their parents. It's lovely for grandchildren to holiday with grandparents or spend weekends with them. The thought of being a carer for young children all week long in retirement isn't for everyone. Most grandparents like the fun stuff and then give them back to their main carers, their parents.
Your kids are lucky to have you. I hope if my daughters have kids I can help them in some way like you are doing for yours. We raised kids far away from family and it’s something I was sad for. We didn’t need them for child care but it would have been nice to be closer.
Childcare in CA is $1500 to 2000 per month! We'll be caring for one of them 2 days a week.
@@FrugalQueeninFrance I agree for the most part. I was fortunate enough to stay home for most of my children's growing up years. As a hairdresser, I could do a few clients at home and keep my hand in.
Delayed retirement for me!
At 63, will have debt paid off next year but not mortgage-free. I'll have some retirement savings but not much. I have a work pension, and, as a Canadian, will have CPP and OAS. Still too tight and I have a list of expenses (plumbing, flooring, dental work, etc) to cover before I give up my paycheck. Looks like I'm working till at least 67 (more like 70). Best thing about my situation as a single person is that my mortgage payments are low and I am not subject to the expense and scarcity of rental housing. Plus, I have the equity in the home should I need / want to change my living situation.
Sorry you’re in that situation but you’re not alone. Most retirees never earned enough to save enough.
We don't travel on big trips or do crusies. We do more local short vacations. We helped raise our grandchild, who as an adult has serious health issues and can not work or go to school. His mom is single and we use some of our retirement on our grandchild's medical and living expenses. I would rather do this as oppose to traveling. We still save and pay bills, have hobbies, and eat out ocasionally. We are being more frugal with clothing, food, and general living expenses. We find free or cheaper ways to find things to do. Thanks for your videos.❤❤❤❤
Sorry you’ve had the expense of raising another child. It’s increasingly becoming a burden for retirees.
We did it willing to help out my daughter and her child. It made their life better and ours, too. I would make the same choice again. Luckily we had pretty good health. @FrugalQueeninFrance
Such a great video! (I always hit the like button before I even start watching!) I am the same age as you are, Jane, and looking seriously at what retirement will be like for my husband and I. Our savings are sorely lacking because he went without a job for 2.5 years, after getting laid off, and we had to use all of our retirement savings to not lose the house. I try to incorporate every idea you and Mike share with us and am thankful I know how to sew and cook from scratch, plus grow a lot of our own food. Also, just like you, I have already determined that I will not be living in our current house by the time I am 70. We currently live in the country, at the top of a steep hill. I want something with a nice flat driveway, and a bit of flat land ( we don't have so much as a square foot of even ground around our house!) and I will be happy!
Sensible to plan ahead
I volunteer, joined bookclub, travel around locally and internationally, and also, my Temple community and activities.
🎉🎉🎉you have given me a lot to think about and I love the positive spin you put on it!!!!❤
Happy to help. We're retired and broke and make it work.
You are so right, saving now, means having choices later. If you are elderly with no money and an emergency comes along, what will you do? Never mind Plan B, there is no Plan A!
Most old people haven’t got any money.
Thanks Jane and Mike
Your hair looks so lovely! Great video
Thanks for watching
Always love your down to earth & realistic videos… ❤
Thank you so much!!
One money problem is transportation. After driving our car for 14 years, it was time to replace it. New cars are so expensive, so even a used
version is still expensive. Most places don't have public transit.
When we share our regular budget videos, we show how we put money aside every month for a new to us car.
Not everyone has the ability to prepare so well for retirement like you're talking about. My husband died when he was 51 years old, after an 8-year long cancer illness, and I was already disabled from my job for a year when he passed away. Although I was blessed with life insurance it only lasted so long and now I am almost 64 years old and I still have a mortgage and a lot of credit card debt. My mother lives with me so we combine expenses, but with the inflation that's going on it's almost impossible. So planning definitely helps but life doesn't always go the way you plan.
Sorry for your loss
You look marvelous, your videos are always spot on!
Glad you like them!
Excellent video, great advice. Thank you.
Glad it was helpful!
Good one, thanks Jane and Mike.
@@BrittanyLucy thanks for watching
Great Video Jane, lots of great tips for people with a few years to retirement to implement. At nearly 74 I am drawing pensions already but do still work a few hours a week but looking to probably give that up at the end of this year. I have a full state pension and 20+years NHS pension which is the income I live on. I also have savings in ISA wrapper that I could draw on if need be. Thankfully I am debt and mortgage free. In the run up to semi retirement I did any major work to my home and changed my car. I then made myself live on what I knew would be my retirement income for a year to get use to it and iron out any of the income/ outgoings blips. This set me up with a great routine when I did semi retire in 2012 , since then I have gradually reduced my hours further. I continue to save a little money each month and have managed not to need to dip into my long term savings. I hear people say I will never be able to retire but they are no prepared to cut back and prepare for their retirement. To me a big mistake because if you cut back slowly it is not such a great shock when your income suddenly disappears.
Thanks for sharing
Living on a pension would be tough if we had to pay rent, but we do have to plan and save up for things, we don’t go out for meals very occasionally have takeaway pizza or good old fish n chips, loving the doggies Jane, so adorable
@@tessmusson8180 thanks, in the future, only those with generational wealth will have their own home so most will rent
I have been away the past week, caring for my nearly 90 year old mother, it isn't easy! When I retire, my pension won't be that great for the first couple of years, until my state pension kicks in, so I will have to be careful, but a lifetime of frugality will make it manageable for now. Being debt free had to be my priority in recent years, and I have no regrets over putting every spare penny into paying off the mortgage early. My pensions are slightly odd as in the earlier years it was defined benefits schemes, and now it is defined contributions, so the picture is complicated. I guess a lot of people must be in that position, plus having money in various different schemes.
Those defined contributions pensions are never so good
Here in the USA in retirement we have Medicare and a 2nd health insurance that we pay for both. Unfortunately neither one of them cover the entire health care bill. So we try and take care of ourselves and hope a serious illness doesn't come our way. Other than that we do a good job of not spending money wastefully.
A rich country that doesn’t have universal healthcare, it’s crazy.
You need a Plan N or Plan G medigap supplement. Those pay for most everything. Especially plan G...
You need a Medigap Supplement Plan N or a plan G. Those pay for most everything that Medicare doesn't. Plan N is quite affordable and the rates are very stable.
I was intrigued with your quilting. I have made nine square quilts and denim quilts in the past, but not a scrappy quilt. Do you pre-cut the squares from scrap fabric? I am thinking old sheets (which I use to cut out test garments when sewing with a new clothing pattern to be sure the pattern will fit so I don't waste expensive fabric). If so, what size are the squares? Thank you for all of your and Mikes videos. I truly enjoy them. They are down to earth and show the real side of being retired. May you have many happy, healthy and blessed years.
That question requires hours of explanation. Google Bonnie Hunter scrap quilts. Thanks for watching.
Really helpful tips thank you
Glad it was helpful!
What a nice positive video.
Glad you liked it!
In the U.S. tiny homes are available, and a unit in the background of relatives this is allowed in Texas.
A really great video! Just retired and I put everything you share into practice.
Wonderful!
Hi Jane and mike so important to focus on health but moderation wins the race i think❤
Thanks for watching
The hubby is 77 years old and I just turned 70. We moved 7 years ago to a smaller house with very few steps. My vehicle needed lots of repairs so I sold it privately and bought that Honda. Honda is paid off and we have no other debt but the mortgage. I am making the payment each month . I would love to have our mortgage paid off. It's something we are working towards but $83,000 seems like forever right now.
Thanks so much
@@isabelsebastiao-vieira2152We are paying our normal payment monthly plus $100 to $200 each month towards principle. Just going very slow. No other debt.
Loved this upbeat video! ❤
Thank you!!
Great advice. 67 is retirement age for social security in US. Health insurance kicks in at 65 on Medicare. Im gearing up for these in the next 10 years so im getting serious about lifestyle changes. Debt free but a house still requires money. Im working on plans for future expenses and improvements while still working. I like that you talked about plans for later because we don't always think that far ahead to 70. Retirement is the goal and we haven't planned for more.
Thanks
so nice to to see that beautiful, thick and healthy hair! I made sure I was zero debt before I retired. I had a full time teaching with several side jobs for decades.
Thanks for your reply
I also went to dentist, doctors, and eye exams
Love your hair today ❤
I love it every day
My sister and I were sent on a bus 🚌 (an 8 -12 hour ride, milk run type, multiple stops), up to my grandparents house for the summer, because older siblings had jobs, and mom and dad worked full time and dad had a second job as well. My son's father in law retired and looks after my grandson anytime they need. We live across country from them, so we get seldom visits. I wish for more time with them, but we can't afford $1500-$2000, flights round trip regularly. Especially if it's only a few days. We also need lodging there, and a rental car. So now we are at $3000 minimum. We chose to relocate to our cabin, so much cheaper to own. We have insulated, put in new windows, doors, roof. We put in woodstoves and then 5 years later we added alternatives for heating. We have a propane wall heater, and electric panel style wall heaters in each room. We also added on demand water heater, we added raised beds to the garden, put in fencing around it. We added fruit trees and bushes. We are adding perennial flower and herb beds. We did just buy our last automobile, as well,3 years ago. We ordered exactly what we needed and got a good deal, and traded in our 2 cars for a hefty down payment. We are making payments for 1 more year, but we got 1.9% interest rate, and I have a few more years of my disability insurance payments to cover it. So we will have what we need going forward to age in place, in an affordable community.
It's expensive. Thanks for sharing
We are worried in the uk because word on the street is that if you have a private pension you won't get the government pension because it's said that's a benefit.
@@CherryCross-r8t that so far that is a unsubstantiated load of rumors
We are lucky that we have Kiwisaver in NZ where your employer and you pay a percentage of money into a fund each pay day and you can access it when you turn 65. Hubby and I paid off our mortgage at 46 years old and now saving furiously for our retirement.
That's great. With average UK salaries being so low and rents being so high, no one will afford a house or a pension.
I have a retired friend who takes care of her grandson during the school year.
Enjoying your uploads. Like that you've planned to enjoy your present abode but have your exit strategy when time is right. I hope you're making the best of your current location. I'd really like to see some lifestyle content of what Brittany offers - completely vicarious of course given we live in Australia.
Plenty of that on our channel
👍👍👍
Hi Jane! I am curious about your « when we are in our 70’s » plan--as I am!
Great idea!! What do you want to know?
Wise advice on retirement preparation. It's certainly very hard for many people these days to retire before state pension age, many are struggling to save for retirement.
As I mentioned
Another great video!
Thanks again!
Great video 😊
Currently working on getting out of debt before retirement. Unfortunately, due to unexpected things happening we’ve been put back at the beginning again. But it’s a learning experience.
Good luck
I do not understand that you think that you will not be able to bring logs in daily after you are seventy. I heat solely with logs and I am 77. And I am not complaining. I will own up to the fact when my logs are delivered I do have help (unpaid help unless you include supplying welsh cakes and biscuits). However, I do bring up all my logs. I normally do log hauling four times a week. Seven steps from my front door and then another four down to the cellar. The only other exercise I do is walking. It’s a countryside of up’s and downs.
We way might be able but we also might be totally sick of doing so.
@@FrugalQueeninFrance I moved her with my late husband when I was only 53. He was seventy. He was happy to use a chain saw and cut logs and he did so until he was eighty. I do understand about being fed up with doing stuff and I suppose it is why some people eat out and have take out! Where I live it is not unusual for oldies to be cutting and hauling logs in their eighties. The joy of S W France
I think it's good to plan. My very fit cousin retired to the country at 60. She hiked, rode her bike and moved to a beautiful but very hilly site. 5 years in she has developed a rare neuropathy that is already causing her problems walking. It's devastating - and they are having to rethink their plans for the future. My parents on the other hand retired to the seaside from a remote country village - they were further away from us, but closer to hospital, GP, shops etc. it was a great decision!
We don’t eat out or have take out. My next home is not going to have wood fires that’s for sure.
@@FrugalQueeninFrance gotcha !!🤣
As you know I had dental implant surgery last week. I bartered to get my stitches taken out last night. I usually put them in and take them out on my own but I can't see to take them out of my mouth 😂😂😂
Your house in France is beautiful. Was it a project so that you could increase its value and then downsize to enjoy the profit?
No, we bought it as it was what we could afford.
You make me want to retire now 😂🎉
I retired from my job as an RN almost 3 years ago. Have been working part time outside of the medical field, as I let my license expire. Going on Social Security in a few months. I will make more on Social Security than working. I know it's wierd.
I am mortgage and debt free. Not sure if I will keep the part time job or not. Financially, don't need it, but might reduce my hours even more for just some "fun" money.
Thanks for watching
❤
In my country the retirement age is 67. By the time I retire, it will be 68. So I have 12 more years to go. I can retire at 66, but the "penalty" is hard comparing to waiting till 68. I am working in the state school system, started a couple of years ago, so that gives me a secure and better pension.
Thanks for sharing
We live a frugal life bur can always get better! We have one debt and mortgage to pay off!
Good luck
At seventy seven YO widow,the house is paid for, no credit card debt, no car payments, drive a ten yo car, low utilities ,have grid tied solar. If this was the other way I’d be In deep do do!
Thanks for sharing
I am so very glad to hear that you plan to leave your current location at 70, before you get too infirm to sustain it. The improvements you have already made to it will increase it's value. Well done you!
I am so glad that I have an emergency fund, as the unexpected always happens! I am retired. This week my washing machine died on me! Back to hand washing every other day, then! Bought a new machine which should arrive Thursday next week. But I'm not letting the washing pile up because - there is a chance it might not arrive! One never knows! PPPPP as military types say! 😂😂
@@lynnoorman2144 well said Lynn
Good points. Would u come back to England or stay in France?
We’ll never afford to live in England
In America the only people with a pension in addition to SS are for the most part government workers including public school teachers or union members. They are the only ones who can retire in their 50's. The rest of us either can put money into a retirement fund and hope the employer gives some ratio of contributions. And then there are many people who only live pay check to pay check and can't plan ahead.
America used to have more pensioned employees until the 1980's. Then employers started cutting back and health insurance for retirement became mandatory medicare for most. Sad. Money doesn't go far at all. Things are 30 to 60 percent more expensive these past 3 years. I don't know how most will handle retirement. I believe many here will never be able to retire.
What about the military? Do they have pensions?
Great video Jane, can I ask where you plan to be at 70? Still in France or possibly return to the UK? xx
@@HelenWren-n9n we'll never live in the UK
My mother is retired and broke so I have to pay. That means I will be broke when retired because I spent all my savings on my mother.
It's a cycle that's difficult to get out of
😊 💜
🫶🏼
Golden years hah! Not my reality!
@@lynnbrown9164 not the reality for most people. Most people younger than me will have nothing saved as their rent, food and basic bills are 100% of their income
Hi. This video is not bad, but the title is click bait. I am retired and broke and you are not. and I am not a bad person.
We are retired and our retirement income is below minimal wage which factually puts us below the French poverty level. The video title is retired and broke, which most retirees are. The video is about preventing that if you're still working and making the best of the situation if you are.
@@FrugalQueeninFrance thanks for the clarification!