Spot on. I retired at 58. I started working at 14 for a paycheck. I played high school and college sports, worked when I could, and then got into the workforce. I worked for 35 years. My brother had a stroke at 55. He's on disability and struggles financially because they always had new cars and a bug house. His plans to build his retirement funds died when he had the stroke. We bought a farm. We fish, hunt, have fruit orchards, grow a lot of vegetables, and raise virtually all of our own meat. We have an RV. We have a place in Montana. We were never "high earners". Instead, we focused on living within our means. We designed our retirement plan to draw an income that matched our bring-home pay while we were working. We drink our coffee, watch a little RUclips, and then do the things we want to do. I am in touch daily with the guys I ran around with in high school. We all fish and hunt and hang out together. Many of us were out of touch for 30 years, living all over the world, and we've all gravitated back together. Here are 2 more examples. A family friend. MD with an income over $400k. He died in 2022 at age 71. He owed $600k in back taxes and we don't even know how much to other lenders. His daughter won't get a penny as everything in the estate goes to the IRS. Good friend from high school. We were college roommates. He was GM of a major beer distributor and made the income you'd expect. 4 kids all got new cars at 16, wife drove a new SUV every couple of years. Million dollar house and the mortgage to match. 2 years ago, at age 58, the owners sold the business and he was laid off. He will be 61 next year and he got a job with a different company at about 1/2 his previous income. Thats still more than i ever made in one year. Still has one in college and his wife doesn't want to downsize. His retirement funds took a beating in 2022 so, despite making a lot of money, he will have to work until he's 65 or longer. Those are just 3 examples of why you need to be planning for retirement early, and don't assume things will keep going well with everything. I started saving heavily at age 51 and was fortunate that the stock market had meteoric rises in my highest earning years. I had a solid plan to retire at age 62 but the market allowed me to retire at58. Hard work and a little luck can go a long way.
I retired from nursing recently (1/2023)at 63 1/2. Nursing can definitely be very stressful mentally and physically. I wore lead all day for long hours working in the cardiac cath lab. My back and hips finally were feeling it. My house is paid off, no debt, enough money to be comfortable, so I just decided to retire. Some days I get a little bored, but I ask myself if I would rather be at work, and the answer is no! So, cheers to drinking lemonade on the porch!!!❤️😃
I retired 7 years ago at age 62. The question I was asking myself at that time was: "why did I go to work in the first place?" Seems like a silly question right? It really isn't. It's a question you should ask yourself to gain some perspective on you retirement journey. I think most of us would answer the question like this: I went to work after going to school because I needed income to live. That's a good reason for sure. So doesn't it follow that once you no longer need the income from work to live, you retire. Made sense to me and that's just what I did. I mean if you think about it, don't you enjoy your weekends, vacation time and holidays off? Well being retired is endless weekends, vacations and holidays. What could be better than that?
I retired at 56 and have absolutely no regrets! I'm in much better shape now because I have time to sleep, eat well, and excercise. If I could have done it sooner, I would have! Your health is far more important than "things"!
Two weeks in and drinking coffee and tea on my deck! I have never been bored in my life! My job was becoming RIDICULOUS and I am out at 62 with early SS - FREEDOM means more to me than anything! This feels so amazing!! Loved your video - one of the best!!😍
I am very, very much looking forward to sitting on my porch, drinking lemonade, people watching and reading novels for a good portion of my retirement. Single working mom of two who is so tired reporting from Philadelphia. Also, I'm anticipating being Mom's caregiver in my go-go years, so there's that. But, um, ok if you say so, I'll be bored. 😂 I joke, but I find your content very helpful and easy to follow. You're a talented teacher and speaker. Thanks for your videos.
I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle in the stock market made it possible for us this early even till now we earn weekly. Thanks to FIRE movement.
I completely understand. I’m eligible to retire this November and would like to wait until August 2024 but the daily 2 hour commute is killing me. Also the fact that my wife retired Oct 2022 doesn’t help.
Debt free 51, retired 53. Only worked half the time during my career (engineer). Drove employers to distraction and stressed them out (turned the table) but did the work of three and it was easy. Living well is the best revenge. Keep learning, keep exercising and say no to stupid.
Retired at 61 and it's been the most fulfilling one year since. Moved to Florida and the opportunities are endless, sometimes I ask myself: when did I have time to work? lol One thing I found very important is to retire debt free, and I mean mortgage and all, have a cash reserve (in my case helps with inflation balancing) and never look back. Peace of mind will teach us that there's more to life than hassle.
I started working young (12). Played some sports while I was young but that wasn't my main focus. I managed to retire at 59 with no pension or health insurance parachute. My wife and I took good care of ourselves, and we are living the dream. I heard some great advice leading up to retirement. List the top 10 things you want to do on a regular basis and see what it cost. When I did that, I figured out that the things I really wanted to do in retirement cost hardly anything. The huge costs are eating out, golf and travel and I don't really have any interest in any of that. We have a very active exercise and social schedule every day. So busy that we actually had to start keeping a calendar for the first time in our lives.
Agreed. I'm not even close to retirement, but I started thinking about retirement the moment I started working. You also have to be financially able to retire too and that is where financial planning early on comes into play. No one wants to retire then find out however many years later you gotta get some kind of job because you can no longer financially support yourself. I plan to retire at 57 so I'm on track to do that.
Excellent video. Turning 65 this year, still working, not collecting yet.Everything is paid for and with the market down turn over the last 2 years I still have about $550k in IRA Accounts. Now I do have it all in mostly stocks. My social security at 65 would be right at $2,600 a month. My biggest issue is I love my job. If I retire not sure what I will do with my time as I have no real hobbies to speak of. Also no one talks about what it will be like spending down your money. I mean all my life I worked on being debt free and building my retirement. Now in the final chapter it will be about spending it down. As far as advice, well this would be for anyone in their early 20's. Invest the max if you can in your companies 401k plan or put into IRA Accounts. The sooner you start the more the money will grow. Great Job! "The Cajun Ninja's Dad"
I take your video as philosophical rather than financial, so I’m not sure how anyone’s input would guide future videos. Most commenters are sharing how they retired early, how they plan to retire (early), etc. Against all that and what you (D. Zoller) have said, I can only offer this: First, in reaction to the hospice nurse’s stories, I am reminded of the blackboard that was set up on a city street with a question at the top: “What do you regret most?” There was one word that occurred in answers repeatedly: “not” as in “Not doing xxxx”, “Not trying xxxx”, “Not taking a chance xxxx”, etc. Second, the choice of when to retire is something of a marshmallow test. For those unfamiliar with it, the marshmallow test was invented for a psychological study with kids. A young kid would be put in a room with a marshmallow on the table. The adult would tell the kid they could eat it, but the adult was leaving the room for five minutes and if the marshmallow was still there when the adult returned, the kid would get a second marshmallow. So, picking your retirement date is like this test: retire early for more enjoyment or retire later for a more financially comfortable retirement? Third, I was reminded the other day of the phrase, “Don’t get so busy earning a living that you don’t have a life.” Your comment about connection, creativity, and contribution is also apropos here. We would all do better to take time to live a life even though we are working. “Don’t do what I do.”
I got to agree. I'm 53 and two years out from retiring ang things are looking "cheerier" every day in my opinion. The light at the end of the tunnel is a real inspiration.
The answer to "why not retire" is so relevant to me. I get a lot out of my work and enjoy it better than my hobbies. I spend my weekends looking forward to going back to work. Maybe that's a sign I need to do more non-financial retirement planning, but for now, I am really happy and the extra money I save for retirement is just a happy by-product.
Bill, well said. Rushing to retirement is not the right thing for _everyone_, but is for many. The points that Dave makes about 'When not to retire' resonate strongly with myself at present. Cheers, Andrew.
Good stuff and it cements my decision to retire at the end of this month at 60 years old. I’ve been trying to live my retirement life for this last year of work. Been working out consistently for a full year and spending time on my hobbies when possible. I can’t wait to have even more time to dedicate to what I want to do and to travel when I want to travel and for as long as I want to travel. And this is from somebody that does have the three Cs at work but I will have them in retirement too to an every higher degree. So excited to start the next chapter. Thanks for your content, Dave. It’s right on the money. No pun intended. (Well, maybe a little. 😊)
Great vid! I worked for a major airline in Atlanta and loved it tremendously. Unexpectedly in 2019, a retirement pkg was offered that just couldn't be turned down. When I say this, I was a lifer..and was in for the long haul...and would still be there. Suddenly by choice, I found myself retired. I will say, the alarm clock was the first to go..ha! I keep a little busy working with Habitat for Humanity.. It's been the best decision I ever didn't make..😀.. That book you mentioned.. "The Top Five Regrets Of The Dying"..Bronnie Ware. Thanks for this vid..🌴🌴
I believe the secret to a happy and healthy retirement is keeping the brain constantly busy. Never stop learning, never stop thinking. You can continue to build neuro-network strength forever, you just have to keep the brain working all the time.
Retired last yr. I had enough money saved to provide what I thought would be a comfortable retirement. Bottom line is that I felt that each month I was spending more than I anticipated. Yes a considerable issue was inflation. Now I am scrambling to get back to working even though I wont starve, I am not comfortable being tight each month.
58 year old school teacher with 36 years exp. Can retire now with a decent pension... i.e. I'll bring home about what I bring home now after taxes... big hole in the ice is health care. 58 - 65 is a long time to go paying for health care... so retire and get another fun job to fill the gap? I can show people where the screwdrivers are EASY at Home Depot... or something like that... widowed and still have some debt... but I think I'm ready to pull the trigger
Some nice ideas. We still get fulfillment and joy from our part-time careers while semiretired at age 68 but there are times I wished I could just take off for 4 whole months and just travel.
1- we ALL have to retire/go eventually 2- some of us had it presented to us due to the LSP due to the interest rate environment. 3- some of us were kinda prepared and after separating from our companies found out we were better prepared than we thought.
This was truly a thought provoking video, for me. I'll hit 59.5 you tomorrow. I have managed to save a comfortable amount $$$, for retirement. Entertaining thoughts of heading to the coast, to further enjoy my life... 🎉🎉🎉
I have a small pension and VA disability money coming in and I am totally debt free. I own my home, my car, and everything else I have. My credit cards were paid off and turned into guitar picks. I retired from the Federal Government at 59. I am most likely not taking SS at 62, but it would be foolish in my case to wait until my FRA of 67 to take it as I have Coronary Artery Disease and Atherosclerosis, which killed everyone on my dad's side of the family. I feel fine for the most part but tomorrow is promised to no one, so I try not to take anything for granted. I don't have much in my 401k because I never learned about investing, but I don't plan to use it until I have to. I could use some input as I am on the fence about when to start taking my SS. The bulk of my family members died in their 70s so I think waiting until 67 is foolish but taking it at 62 means such a low amount. I'm retired but my spouse is two years younger and still working so we can't go anywhere on a whim. I would welcome some feedback. Thanks.
Retirement is when you’re ready to get loose, to be free from all the stress and worries, , drinking your lemonade on your balcony or porch. Why do you still have to worry about being idle , you’ve worked hard for long, long years already.Just sit back and relax, but don’t forget to live a healthy lifestyle and maintaining your relationship with God!
I find my work really fulfilling. I'm buzzing about the problems I overcame today for my customer and the quality of the work done and solutions found and had a good laugh with him. I am a Refrigeration Engineer and part time flying instructor. I didnt enjoy lockdown. The rest was nice and paid holiday but it soon became groundhog day. My days are different in my work so Im lucky with that. I never felt this way when I was younger and was always flapping about retirement but as Ive got older Ive right sized everything. The lockdown helped. If I can stay fit and well I will be grateful.
I can’t even tell you how great this video is. All three resonated with me. I’m in public service and will be able to retire with full pension in early ‘26. I enjoy m’y work but like forward to dictating my own time and experiencing true freedom. We’ll start implementing a new grant management software which is actually near and dear to my heart but I’m not staying a day over my eligible date to retire in order to see it through completion. I’ve known several who stay in the job so they can finish a project. Not me! Thank you 🙏🏾
Beautiful journey, one that folks really need to watch, your channel has really made my life better. I’m 48, retired a while ago. I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accounts, in cumulative of over $1M. I receive income from my rental properties too. Zero debt and all is going accordingly. my advice for newbies is consistency, that's what separates the rich from the poor, the ability to keep going. Goodluck
I'm 51 and I really think this guy has it right .Up to 4 years ago I had a middle management job with crazy pressure that was increasing by the month .Felt stressed rang my doc and she put me out of work on stress leave for 6 weeks .Walked in my first Monday back and handed my notice in with no job to go to .My boss freaked said he would do anything to keep me .I said I would stay in a junior admin role doing a four day week . It was a 50% drop in salary but that extra day a week off meant I could work on my side hustle .I worked a four day week like this for the last 4 years Long story short I now work a three day week (Tues to Thurs) freelancing my side hustle .Downsides are I dont have paid vacation and other perks of being a middle manager but I do have time .No 1 get rid of your debt , do you need a new car ? buy second hand for cash .Do you need a fancy wardrobe ? Then see if you can negotiate the shorter working week , if they no just say ok I am exploring my actions .They may reconsider ! Many of my friends are still tied into the work to fund your lifestyle BS . They envy my three day week much more than I envy their new cars and suits .Every Sunday night I sit with a cold beer and make a list of the personal admin things that I have to do on the Monday. and who I am having coffee with on Monday morning .No Sunday scaries ,my weekends are longer than my work weeks and I spend a lot of time on hobbies and passions as well as drinking coffee mid mornings on Monday and Fridays . Time to someone in their 50s or 60s is WAAAAYYY more important than m money or material possessions .Think about your next move !
This whole subject depends entirely on what you do for a living or a career. I'm a professional artist so have a very enjoyable and satisfying career. Like a writer, singer or actor why would I give something at a certain age up to sit around all day. I admit I'm very lucky to do something I love as a job. My hobby is my job I suppose. The idea of giving it up at any age is unthinkable.
Also, you need to really think how your going to spend your time. Create some activities or a routine. Also, the transition will impact your spouse. You'll be around each other more which is good and bad. You'll both want some time to do things together, but also to do activities independently.
I still work at 62 make 6 figures and collect a full pension with a dividend portfolio. No reason to retire! Everyone's situation and needs are different!
I tell others that I am semi-retired (since 62) and am not collecting SSI until at least 66. If you save throughout your working life, and have little or no debt, you can enjoy life without having to collect SSI at 62. This is especially true now with stocks not going anywhere. Every year you delay SSI, you gain 7.5%.
Great video I am about to turn 60 and feel sooooo much pressure to retire! I actually recently was laid off ( truly a downturn in the SaaS industry) and am super excited to find my next gig. I love the structure, the satisfaction of reaching goals, the satisfaction of achievement and honestly I am not cockey but knowing I can pick and choose to a degree and have earned my place! The worst thing about the North American work place is ageism but thanks to remote that eases it a bit. I get that our society is driven to this but to do what? I just don’t get it and I have a very fulfilled life with family and friends but work and challenge, in my opinion are the fountain of youth! Oh yeah it’s worth mentioning I am a women and so the struggle against ageism is for sure more real than for men! Please keep doing balanced videos on retirement, wonderful for some, but not all!
Thanks for sharing reasons! I'm financially free and currently growing a solid retirement plan. It takes a positive and consistency to learn new things, unlearn the old habits is important to get a mentor/coach to lead you all the way. It's great to start young too!
Going out in September at 59. When I run into former co-workers that have retired in previous 5 years they ALL say the same thing, DO IT! Not a single one has any regrets about getting out of the place.
Your channel has significantly improved my quality of life. Beautiful trip that everybody ought to watch. My age is 48, and I recently retired. My capital investments are split up across many different investment accounts, totaling more than $1 million, with 35% in an IRA, 25% in index funds, and the remaining balance in other investments. My rental properties also provide me with revenue. Everything is going as planned and there is no debt. Consistency, the capacity to persevere, is what distinguishes the wealthy from the poor, and it is the advise I give newcomers. Goodluck
Thanks for sharing! I'm f!nancially free and currently growing a solid retirement plan. It takes a positive and consistency to learn new things, unlearn the old habits . It's great to start young too!
THANKS. Just what I needed to watch. My husband and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 56, my Wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.
I'm f!nanc!ally free and currently growing a solid ret!rement plan. It takes a positive and consistency to learn new things, unlearn the old habits. It's great to start young too!
The lie about folks living longer and justifying making full retirement 70+ is ridiculous. Many folks are lucky to make it to 75. 5 years of retirement is not a deal.
Actually, it isn't a lie. People that take care of themselves are living longer. For the first time we saw a reduction in ife expectancy, but there are reasons for that. Covid took a lot of people pre-maturely, albeit mostly elderly, it did reduce their lifespan, and second, drugs and suicide. Drugs and suicide are kiling more young people than ever before, and these young people are factored into life expectsncy calculations. Live a healthy life and don't do drugs, and your chance of a long life will increase.
So true. Recently had a friend pass away at 56. Had two pensions (military and firefighter) and was on his third career as an airline pilot. His death was a shock as he was in good health. All that planning and never got to enjoy it. Tomorrow really isn’t promised. Live for today.
I retired at 55.......lived 2 years in Cebu Philippines........now back in the states traveling all over the USA in a travel trailer at age 58....loving every minute of it...I had a great job and lived in a great house, but I was alone and all i did was sleep, eat and work...still alone, but i am not getting up at 330 am to live basically no life as a well paid zombie...
One thought is to buy the dip and then wait to break even, another thought is: Will buying low during a recession work if I'm retiring in the next 3years, I'm no way near prepared for retirement and I just need strategies to scale up to atleast 2million by the time I'm set to retire
Sir: this video is so incredibly timely for me. These are the questions I'm wrestling with right now. Thanks for your perspective -- rest assured I'll be giving it serious consideration.
Retirement offers the opportunity to pursue personal interests and hobbies that may have been difficult to prioritize while working full-time. Whether it's traveling, spending time with loved ones, engaging in creative pursuits, or contributing to charitable causes, retiring early can provide more time and freedom to explore and enjoy these activities.
With understanding that everyone’s situation is different I have approached the later stages of life with the idea that I don’t want to ever fully retire until I have to. I have intentionally built multiple businesses and cash flows so I can be engaged mentally in the businesses without having to physically be working in the business regularly. I had a year transition between my working career at age 51 and semi retirement and was never more unsettled/bored/anxious/etc. I want my years to be such where I am highly engaged mental forcing creativity. So hybrid retirement years between being engaged in business or hobbies, etc. and enjoying time with families friends and family is the ideal.
Been retired for years now. Trade options for income and fun. Can do it from anywhere if im on the road. For me its a great hobby/ income. Of course I understand that it's not for everone. Hope you find something you enjoy doing and can travel as well. Time is precious. Every day really is a gift.
I have family and friends who continue to work well into retirement. Of course they don't mind the work as it provides the social and/or monetary aspect. While I agree those might be good reasons, what about the pressure of consently be asked to take on more or not being available to participate in something else. That's what I am trying to figure out in my transition from work to retirement. How much is enough?
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding
From experience, retire when you are financially able. You can always earn more money but you can’t buy more time. My wife and I can’t imagine fitting work into our schedules these days.
Beautiful adventure, one that others should truly observe; your channel has really improved my quality of life. I recently retired at age 48. I have over $1 million in total investments, with 35% in an IRA, 25% in index funds, and the other monies dispersed among several other investment accounts. Additionally, I make money from my rental homes. Zero debt, everything is going as planned. Consistency is the key to success, and it's what distinguishes the affluent from the poor, in my opinion. Goodluck
The biggest key to a great retirement is to start planning for your retirement when you are in your early 20's. I started my retirement at 24, with plans on retiring at 57, had children late in life so I had to postpone my retirement until I was 60. The easiest route is to start with depositing between 100-200 each month in your 401K or IRA, then each and every pay increase after you deposit 25% of the raise into the account.
I like the content and the psychological approach, but I live in a place where money is the most essential thing for retirement and I have seen so many in my place abandoned, suffer, and die because of a lack of money in retirement. I've worked in an old nursing home, and many seniors I have taken care of before they expired told me "Time is Money" is the rule they regret not remembering when they were still young. Thus, I guess this video fits a specific kind of audience -- different from those I have worked with -- and I respect that.
Retiring early can provide the freedom to spend more time with family and friends, take up part-time or flexible work arrangements, or even start a new venture or pursue a passion project>>
Worked for the federal government and retired last year after 35 years. The job was stressing me out and couldn't advance working there. Looking for a part time job outside of the office
Retire as soon as you possibly can afford to. I get zero pleasure from my “career”, it’s a pay check and always has just been a pay check. If you own your own business itmay be different, but for me working for a mega corporation my entire career it’s just been a paycheck to support my family. Hope to retire in the next 18 months, it will be a close call but like the man said my time is going to run out sooner than I think.
Don't get greedy and retire early as possible. Due to you know, how much money you have but you don't know how much time you have,. When time as gone there's no buying it back. Live for today in retirement because theremight not be a tomorrow. Work place is not bothered about you your just a number to them .
I was expecting the ugly truth part of folks who retire and are just barely sustainable, fearing the next financial emergency. Retirement takes real planning and serious relative math.
Imagine when AI and robotics will replace our jobs and we are “retired” forever. Humans were never meant to work ourselves until death. We were given the garden to take care of it and each other.
Hobbies like competitive masters swimming, golf, participating in BBQ competitions, homebrewing. That's why I look forward to retirement. Oh yeah, and traveling with the wife occasionally 😂
Six months in, I realize I should have retired when I was seven. 😊
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😂😂😂😂😂😂😂😂 CONGRATULATIONS!!! I can’t wait to have this feeling!!!
As a nurse it is heartbreaking to nurse people who have just retired, full of cancer. Retire ASAP if you can.
Spot on.
I retired at 58.
I started working at 14 for a paycheck. I played high school and college sports, worked when I could, and then got into the workforce. I worked for 35 years.
My brother had a stroke at 55. He's on disability and struggles financially because they always had new cars and a bug house. His plans to build his retirement funds died when he had the stroke.
We bought a farm. We fish, hunt, have fruit orchards, grow a lot of vegetables, and raise virtually all of our own meat. We have an RV. We have a place in Montana. We were never "high earners". Instead, we focused on living within our means.
We designed our retirement plan to draw an income that matched our bring-home pay while we were working.
We drink our coffee, watch a little RUclips, and then do the things we want to do.
I am in touch daily with the guys I ran around with in high school. We all fish and hunt and hang out together. Many of us were out of touch for 30 years, living all over the world, and we've all gravitated back together.
Here are 2 more examples.
A family friend. MD with an income over $400k. He died in 2022 at age 71. He owed $600k in back taxes and we don't even know how much to other lenders. His daughter won't get a penny as everything in the estate goes to the IRS.
Good friend from high school. We were college roommates. He was GM of a major beer distributor and made the income you'd expect. 4 kids all got new cars at 16, wife drove a new SUV every couple of years. Million dollar house and the mortgage to match. 2 years ago, at age 58, the owners sold the business and he was laid off. He will be 61 next year and he got a job with a different company at about 1/2 his previous income. Thats still more than i ever made in one year. Still has one in college and his wife doesn't want to downsize. His retirement funds took a beating in 2022 so, despite making a lot of money, he will have to work until he's 65 or longer.
Those are just 3 examples of why you need to be planning for retirement early, and don't assume things will keep going well with everything.
I started saving heavily at age 51 and was fortunate that the stock market had meteoric rises in my highest earning years. I had a solid plan to retire at age 62 but the market allowed me to retire at58. Hard work and a little luck can go a long way.
I retired from nursing recently (1/2023)at 63 1/2. Nursing can definitely be very stressful mentally and physically. I wore lead all day for long hours working in the cardiac cath lab. My back and hips finally were feeling it. My house is paid off, no debt, enough money to be comfortable, so I just decided to retire. Some days I get a little bored, but I ask myself if I would rather be at work, and the answer is no! So, cheers to drinking lemonade on the porch!!!❤️😃
I retired 7 years ago at age 62. The question I was asking myself at that time was: "why did I go to work in the first place?" Seems like a silly question right? It really isn't. It's a question you should ask yourself to gain some perspective on you retirement journey. I think most of us would answer the question like this: I went to work after going to school because I needed income to live. That's a good reason for sure. So doesn't it follow that once you no longer need the income from work to live, you retire. Made sense to me and that's just what I did. I mean if you think about it, don't you enjoy your weekends, vacation time and holidays off? Well being retired is endless weekends, vacations and holidays. What could be better than that?
I retired at 56 and have absolutely no regrets! I'm in much better shape now because I have time to sleep, eat well, and excercise. If I could have done it sooner, I would have! Your health is far more important than "things"!
Two weeks in and drinking coffee and tea on my deck! I have never been bored in my life! My job was becoming RIDICULOUS and I am out at 62 with early SS - FREEDOM means more to me than anything! This feels so amazing!! Loved your video - one of the best!!😍
Thanks for sharing! Congrats!
Thank you so much! If you pay off the mortgage and have no credit card debt it can be done. Your video is truly one of the best on here!
got 10 more months....62....and have many pals retired...not one regrets it... can't wait....
That's great!
I am very, very much looking forward to sitting on my porch, drinking lemonade, people watching and reading novels for a good portion of my retirement. Single working mom of two who is so tired reporting from Philadelphia. Also, I'm anticipating being Mom's caregiver in my go-go years, so there's that. But, um, ok if you say so, I'll be bored. 😂 I joke, but I find your content very helpful and easy to follow. You're a talented teacher and speaker. Thanks for your videos.
Very much agree! Those of us who have worked hard and have been caretakers are very happy drinking lemonade in the porch.
- No man ever said at the end of life, I wish I spent more time at the office.
I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle in the stock market made it possible for us this early even till now we earn weekly. Thanks to FIRE movement.
The commute outweighed the three positives listed. I’m done at 61 effective 6-1 !!
I completely understand.
I’m eligible to retire this November and would like to wait until August 2024 but the daily 2 hour commute is killing me.
Also the fact that my wife retired Oct 2022 doesn’t help.
Exactly Same for me! Commute is worse than job! I'm Retiring July 4th🎉
Debt free 51, retired 53. Only worked half the time during my career (engineer). Drove employers to distraction and stressed them out (turned the table) but did the work of three and it was easy. Living well is the best revenge. Keep learning, keep exercising and say no to stupid.
Retired at 61 and it's been the most fulfilling one year since. Moved to Florida and the opportunities are endless, sometimes I ask myself: when did I have time to work? lol
One thing I found very important is to retire debt free, and I mean mortgage and all, have a cash reserve (in my case helps with inflation balancing) and never look back. Peace of mind will teach us that there's more to life than hassle.
I started working young (12). Played some sports while I was young but that wasn't my main focus. I managed to retire at 59 with no pension or health insurance parachute. My wife and I took good care of ourselves, and we are living the dream.
I heard some great advice leading up to retirement. List the top 10 things you want to do on a regular basis and see what it cost. When I did that, I figured out that the things I really wanted to do in retirement cost hardly anything.
The huge costs are eating out, golf and travel and I don't really have any interest in any of that. We have a very active exercise and social schedule every day. So busy that we actually had to start keeping a calendar for the first time in our lives.
Agreed. I'm not even close to retirement, but I started thinking about retirement the moment I started working. You also have to be financially able to retire too and that is where financial planning early on comes into play. No one wants to retire then find out however many years later you gotta get some kind of job because you can no longer financially support yourself. I plan to retire at 57 so I'm on track to do that.
Excellent video. Turning 65 this year, still working, not collecting yet.Everything is paid for and with the market down turn over the last 2 years I still have about $550k in IRA Accounts. Now I do have it all in mostly stocks. My social security at 65 would be right at $2,600 a month. My biggest issue is I love my job. If I retire not sure what I will do with my time as I have no real hobbies to speak of. Also no one talks about what it will be like spending down your money. I mean all my life I worked on being debt free and building my retirement. Now in the final chapter it will be about spending it down. As far as advice, well this would be for anyone in their early 20's. Invest the max if you can in your companies 401k plan or put into IRA Accounts. The sooner you start the more the money will grow. Great Job! "The Cajun Ninja's Dad"
Retirement is wonderful if you have two essentials - much to live on and much to live for. Invest wisely and get good returns.
Retire when you no longer wish to work AND you are positive you can afford it.
I retired 16 years ago at age 57. Having a ball and living a good life.
I take your video as philosophical rather than financial, so I’m not sure how anyone’s input would guide future videos. Most commenters are sharing how they retired early, how they plan to retire (early), etc. Against all that and what you (D. Zoller) have said, I can only offer this:
First, in reaction to the hospice nurse’s stories, I am reminded of the blackboard that was set up on a city street with a question at the top: “What do you regret most?” There was one word that occurred in answers repeatedly: “not” as in “Not doing xxxx”, “Not trying xxxx”, “Not taking a chance xxxx”, etc.
Second, the choice of when to retire is something of a marshmallow test. For those unfamiliar with it, the marshmallow test was invented for a psychological study with kids. A young kid would be put in a room with a marshmallow on the table. The adult would tell the kid they could eat it, but the adult was leaving the room for five minutes and if the marshmallow was still there when the adult returned, the kid would get a second marshmallow. So, picking your retirement date is like this test: retire early for more enjoyment or retire later for a more financially comfortable retirement?
Third, I was reminded the other day of the phrase, “Don’t get so busy earning a living that you don’t have a life.” Your comment about connection, creativity, and contribution is also apropos here. We would all do better to take time to live a life even though we are working.
“Don’t do what I do.”
I got to agree. I'm 53 and two years out from retiring ang things are looking "cheerier" every day in my opinion. The light at the end of the tunnel is a real inspiration.
Retirement offers the opportunity to pursue personal interests and hobbies that may have been difficult to prioritize while working full-time
The answer to "why not retire" is so relevant to me. I get a lot out of my work and enjoy it better than my hobbies. I spend my weekends looking forward to going back to work. Maybe that's a sign I need to do more non-financial retirement planning, but for now, I am really happy and the extra money I save for retirement is just a happy by-product.
Wow, you’re lucky! May I ask what you do? I don’t enjoy my job working for a big corporation and close to taking early retirement at 55. Can’t wait!
Bill, well said. Rushing to retirement is not the right thing for _everyone_, but is for many. The points that Dave makes about 'When not to retire' resonate strongly with myself at present. Cheers, Andrew.
Good stuff and it cements my decision to retire at the end of this month at 60 years old. I’ve been trying to live my retirement life for this last year of work. Been working out consistently for a full year and spending time on my hobbies when possible. I can’t wait to have even more time to dedicate to what I want to do and to travel when I want to travel and for as long as I want to travel. And this is from somebody that does have the three Cs at work but I will have them in retirement too to an every higher degree. So excited to start the next chapter. Thanks for your content, Dave. It’s right on the money. No pun intended. (Well, maybe a little. 😊)
What I most like about this video is you are addressing the "psychology" of retirement. Dave, thank you, I have subscribed...
Thank you, Tony!
Great vid! I worked for a major airline in Atlanta and loved it tremendously. Unexpectedly in 2019, a retirement pkg was offered that just couldn't be turned down. When I say this, I was a lifer..and was in for the long haul...and would still be there. Suddenly by choice, I found myself retired. I will say, the alarm clock was the first to go..ha! I keep a little busy working with Habitat for Humanity.. It's been the best decision I ever didn't make..😀.. That book you mentioned.. "The Top Five Regrets Of The Dying"..Bronnie Ware. Thanks for this vid..🌴🌴
I believe the secret to a happy and healthy retirement is keeping the brain constantly busy. Never stop learning, never stop thinking. You can continue to build neuro-network strength forever, you just have to keep the brain working all the time.
Retired last yr. I had enough money saved to provide what I thought would be a comfortable retirement. Bottom line is that I felt that each month I was spending more than I anticipated. Yes a considerable issue was inflation. Now I am scrambling to get back to working even though I wont starve, I am not comfortable being tight each month.
58 year old school teacher with 36 years exp. Can retire now with a decent pension... i.e. I'll bring home about what I bring home now after taxes... big hole in the ice is health care. 58 - 65 is a long time to go paying for health care... so retire and get another fun job to fill the gap? I can show people where the screwdrivers are EASY at Home Depot... or something like that... widowed and still have some debt... but I think I'm ready to pull the trigger
Some nice ideas. We still get fulfillment and joy from our part-time careers while semiretired at age 68 but there are times I wished I could just take off for 4 whole months and just travel.
DO IT! If you can, take the leap!
1- we ALL have to retire/go eventually
2- some of us had it presented to us due to the LSP due to the interest rate environment.
3- some of us were kinda prepared and after separating from our companies found out we were better prepared than we thought.
I don’t know….sitting on my front porch sipping lemonade doesn’t sound like such a bad way to spend retirement!!!
This was truly a thought provoking video, for me. I'll hit 59.5 you tomorrow. I have managed to save a comfortable amount $$$, for retirement. Entertaining thoughts of heading to the coast, to further enjoy my life... 🎉🎉🎉
I agree 100% with the three C’s. Work got more stressful due to many issues. Happy I made the transition. Thank you
Thanks, Mike!
I have a small pension and VA disability money coming in and I am totally debt free. I own my home, my car, and everything else I have. My credit cards were paid off and turned into guitar picks. I retired from the Federal Government at 59. I am most likely not taking SS at 62, but it would be foolish in my case to wait until my FRA of 67 to take it as I have Coronary Artery Disease and Atherosclerosis, which killed everyone on my dad's side of the family. I feel fine for the most part but tomorrow is promised to no one, so I try not to take anything for granted. I don't have much in my 401k because I never learned about investing, but I don't plan to use it until I have to. I could use some input as I am on the fence about when to start taking my SS. The bulk of my family members died in their 70s so I think waiting until 67 is foolish but taking it at 62 means such a low amount. I'm retired but my spouse is two years younger and still working so we can't go anywhere on a whim. I would welcome some feedback. Thanks.
Retirement is when you’re ready to get loose, to be free from all the stress and worries, , drinking your lemonade on your balcony or porch. Why do you still have to worry about being idle , you’ve worked hard for long, long years already.Just sit back and relax, but don’t forget to live a healthy lifestyle and maintaining your relationship with God!
I find my work really fulfilling. I'm buzzing about the problems I overcame today for my customer and the quality of the work done and solutions found and had a good laugh with him. I am a Refrigeration Engineer and part time flying instructor. I didnt enjoy lockdown. The rest was nice and paid holiday but it soon became groundhog day. My days are different in my work so Im lucky with that. I never felt this way when I was younger and was always flapping about retirement but as Ive got older Ive right sized everything. The lockdown helped. If I can stay fit and well I will be grateful.
this video is for me...but honestly...ALL videos that you create are for me...AND others....!
I’m glad you liked it! Thank you !
Some good tips in there, Dave...from a guy who's now been retired for a little over 28 years.
Thank you!
I can’t even tell you how great this video is. All three resonated with me. I’m in public service and will be able to retire with full pension in early ‘26. I enjoy m’y work but like forward to dictating my own time and experiencing true freedom. We’ll start implementing a new grant management software which is actually near and dear to my heart but I’m not staying a day over my eligible date to retire in order to see it through completion. I’ve known several who stay in the job so they can finish a project. Not me! Thank you 🙏🏾
Beautiful journey, one that folks really need to watch, your channel has really made my life better. I’m 48, retired a while ago. I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accounts, in cumulative of over $1M. I receive income from my rental properties too. Zero debt and all is going accordingly. my advice for newbies is consistency, that's what separates the rich from the poor, the ability to keep going. Goodluck
Connection, creativity, contribution. Yes!
I'm 51 and I really think this guy has it right .Up to 4 years ago I had a middle management job with crazy pressure that was increasing by the month .Felt stressed rang my doc and she put me out of work on stress leave for 6 weeks .Walked in my first Monday back and handed my notice in with no job to go to .My boss freaked said he would do anything to keep me .I said I would stay in a junior admin role doing a four day week . It was a 50% drop in salary but that extra day a week off meant I could work on my side hustle .I worked a four day week like this for the last 4 years
Long story short I now work a three day week (Tues to Thurs) freelancing my side hustle .Downsides are I dont have paid vacation and other perks of being a middle manager but I do have time .No 1 get rid of your debt , do you need a new car ? buy second hand for cash .Do you need a fancy wardrobe ? Then see if you can negotiate the shorter working week , if they no just say ok I am exploring my actions .They may reconsider !
Many of my friends are still tied into the work to fund your lifestyle BS . They envy my three day week much more than I envy their new cars and suits .Every Sunday night I sit with a cold beer and make a list of the personal admin things that I have to do on the Monday. and who I am having coffee with on Monday morning .No Sunday scaries ,my weekends are longer than my work weeks and I spend a lot of time on hobbies and passions as well as drinking coffee mid mornings on Monday and Fridays .
Time to someone in their 50s or 60s is WAAAAYYY more important than m money or material possessions .Think about your next move !
Well explained. Retiring this year at 59 and know its right time. Thanks for affirmation!
Thanks for doing career day at Timothy! Great cookies!
It’s a great group of kids in there !
This whole subject depends entirely on what you do for a living or a career. I'm a professional artist so have a very enjoyable and satisfying career. Like a writer, singer or actor why would I give something at a certain age up to sit around all day. I admit I'm very lucky to do something I love as a job. My hobby is my job I suppose. The idea of giving it up at any age is unthinkable.
Also, you need to really think how your going to spend your time. Create some activities or a routine. Also, the transition will impact your spouse. You'll be around each other more which is good and bad. You'll both want some time to do things together, but also to do activities independently.
I still work at 62 make 6 figures and collect a full pension with a dividend portfolio. No reason to retire! Everyone's situation and needs are different!
I tell others that I am semi-retired (since 62) and am not collecting SSI until at least 66. If you save throughout your working life, and have little or no debt, you can enjoy life without having to collect SSI at 62. This is especially true now with stocks not going anywhere. Every year you delay SSI, you gain 7.5%.
I'm 37 and saving every penny to get out of the rat race as soon as I can.
Great video I am about to turn 60 and feel sooooo much pressure to retire! I actually recently was laid off ( truly a downturn in the SaaS industry) and am super excited to find my next gig. I love the structure, the satisfaction of reaching goals, the satisfaction of achievement and honestly I am not cockey but knowing I can pick and choose to a degree and have earned my place! The worst thing about the North American work place is ageism but thanks to remote that eases it a bit. I get that our society is driven to this but to do what? I just don’t get it and I have a very fulfilled life with family and friends but work and challenge, in my opinion are the fountain of youth! Oh yeah it’s worth mentioning I am a women and so the struggle against ageism is for sure more real than for men! Please keep doing balanced videos on retirement, wonderful for some, but not all!
Thanks for sharing reasons! I'm financially free and currently growing a solid retirement plan. It takes a positive and consistency to learn new things, unlearn the old habits is important to get a mentor/coach to lead you all the way. It's great to start young too!
Going out in September at 59. When I run into former co-workers that have retired in previous 5 years they ALL say the same thing, DO IT! Not a single one has any regrets about getting out of the place.
Your channel has significantly improved my quality of life. Beautiful trip that everybody ought to watch. My age is 48, and I recently retired. My capital investments are split up across many different investment accounts, totaling more than $1 million, with 35% in an IRA, 25% in index funds, and the remaining balance in other investments. My rental properties also provide me with revenue. Everything is going as planned and there is no debt. Consistency, the capacity to persevere, is what distinguishes the wealthy from the poor, and it is the advise I give newcomers. Goodluck
I always appreciate your thought provoking videos.
Thank you!
Thanks for sharing! I'm f!nancially free and currently growing a solid retirement plan. It takes a positive and consistency to learn new things, unlearn the old habits . It's great to start young too!
Yes, there's certainly an argument to be made for retiring sooner (rather than later).... even if it means having to live more frugally.
THANKS. Just what I needed to watch. My husband and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 56, my Wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.
Not sure what to do during the GoGo phase, I don't really want to do anything more than I've already done.
What the hell is wrong with sitting on my porch drinking lemonade ??? Eat your hearts out you busy-bodies !!
Interesting video. Thanks for posting.
Thank you for the honesty. Good video 👍
My pleasure! Thank you.
I'm f!nanc!ally free and currently growing a solid ret!rement plan. It takes a positive and consistency to learn new things, unlearn the old habits. It's great to start young too!
The lie about folks living longer and justifying making full retirement 70+ is ridiculous. Many folks are lucky to make it to 75. 5 years of retirement is not a deal.
100% agree!
Actually, it isn't a lie. People that take care of themselves are living longer. For the first time we saw a reduction in ife expectancy, but there are reasons for that. Covid took a lot of people pre-maturely, albeit mostly elderly, it did reduce their lifespan, and second, drugs and suicide. Drugs and suicide are kiling more young people than ever before, and these young people are factored into life expectsncy calculations. Live a healthy life and don't do drugs, and your chance of a long life will increase.
And generally the worst five years of your life because of health.
So true. Recently had a friend pass away at 56. Had two pensions (military and firefighter) and was on his third career as an airline pilot. His death was a shock as he was in good health. All that planning and never got to enjoy it. Tomorrow really isn’t promised. Live for today.
A lot of people live until 90 too
Great confirmation!, Headed in that direction Jan 2024!
I retired at 55.......lived 2 years in Cebu Philippines........now back in the states traveling all over the USA in a travel trailer at age 58....loving every minute of it...I had a great job and lived in a great house, but I was alone and all i did was sleep, eat and work...still alone, but i am not getting up at 330 am to live basically no life as a well paid zombie...
One thought is to buy the dip and then wait to break even, another thought is: Will buying low during a recession work if I'm retiring in the next 3years, I'm no way near prepared for retirement and I just need strategies to scale up to atleast 2million by the time I'm set to retire
Sir: this video is so incredibly timely for me. These are the questions I'm wrestling with right now. Thanks for your perspective -- rest assured I'll be giving it serious consideration.
Thanks, Dave!
All I want is to sit on the porch and sip lemonade… what’s wrong with that?
Good question. I'm thankful my line of work provides connection, creativity, and contribution! Not ready to retire from that.
Retirement offers the opportunity to pursue personal interests and hobbies that may have been difficult to prioritize while working full-time. Whether it's traveling, spending time with loved ones, engaging in creative pursuits, or contributing to charitable causes, retiring early can provide more time and freedom to explore and enjoy these activities.
With understanding that everyone’s situation is different I have approached the later stages of life with the idea that I don’t want to ever fully retire until I have to. I have intentionally built multiple businesses and cash flows so I can be engaged mentally in the businesses without having to physically be working in the business regularly. I had a year transition between my working career at age 51 and semi retirement and was never more unsettled/bored/anxious/etc. I want my years to be such where I am highly engaged mental forcing creativity. So hybrid retirement years between being engaged in business or hobbies, etc. and enjoying time with families friends and family is the ideal.
Been retired for years now. Trade options for income and fun. Can do it from anywhere if im on the road. For me its a great hobby/ income. Of course I understand that it's not for everone. Hope you find something you enjoy doing and can travel as well. Time is precious. Every day really is a gift.
I have family and friends who continue to work well into retirement. Of course they don't mind the work as it provides the social and/or monetary aspect. While I agree those might be good reasons, what about the pressure of consently be asked to take on more or not being available to participate in something else. That's what I am trying to figure out in my transition from work to retirement. How much is enough?
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding
From experience, retire when you are financially able. You can always earn more money but you can’t buy more time. My wife and I can’t imagine fitting work into our schedules these days.
Beautiful adventure, one that others should truly observe; your channel has really improved my quality of life. I recently retired at age 48. I have over $1 million in total investments, with 35% in an IRA, 25% in index funds, and the other monies dispersed among several other investment accounts. Additionally, I make money from my rental homes. Zero debt, everything is going as planned. Consistency is the key to success, and it's what distinguishes the affluent from the poor, in my opinion. Goodluck
Love your videos
Excellent point on how the 3 Cs inform both the decision to retire and the decision to keep working. Brilliant insight. Thank you!
Great video, as always very thought provoking ...Thank you.
Thank you very much!
The biggest key to a great retirement is to start planning for your retirement when you are in your early 20's. I started my retirement at 24, with plans on retiring at 57, had children late in life so I had to postpone my retirement until I was 60.
The easiest route is to start with depositing between 100-200 each month in your 401K or
IRA, then each and every pay increase after you deposit 25% of the raise into the account.
I like the content and the psychological approach, but I live in a place where money is the most essential thing for retirement and I have seen so many in my place abandoned, suffer, and die because of a lack of money in retirement. I've worked in an old nursing home, and many seniors I have taken care of before they expired told me "Time is Money" is the rule they regret not remembering when they were still young. Thus, I guess this video fits a specific kind of audience -- different from those I have worked with -- and I respect that.
Well, one reason to retire early could be to enjoy more leisure time and pursue hobbies and passions.
No stress at the GoGo. I’m retiring in 2 yrs at 55 and you’ll find me there
Retiring early can provide the freedom to spend more time with family and friends, take up part-time or flexible work arrangements, or even start a new venture or pursue a passion project>>
I’ll get right on that in 30 years
Worked for the federal government and retired last year after 35 years. The job was stressing me out and couldn't advance working there. Looking for a part time job outside of the office
I retired 6 years ago and have been sipping lemonade. 70 now what have no purpose, but I'm ok with that
Be blessed ! 😊
Retire as soon as you possibly can afford to. I get zero pleasure from my “career”, it’s a pay check and always has just been a pay check. If you own your own business itmay be different, but for me working for a mega corporation my entire career it’s just been a paycheck to support my family. Hope to retire in the next 18 months, it will be a close call but like the man said my time is going to run out sooner than I think.
Don't get greedy and retire early as possible. Due to you know, how much money you have but you don't know how much time you have,. When time as gone there's no buying it back. Live for today in retirement because theremight not be a tomorrow. Work place is not bothered about you your just a number to them .
OUTSTANDING video = keep it up
I want to retire when I turn 85
Excellent advice thank you.
Thank you.
I was expecting the ugly truth part of folks who retire and are just barely sustainable, fearing the next financial emergency. Retirement takes real planning and serious relative math.
Thank You Very Much!
I retired 16 years at 38 ago on SSDI
As long as you’re not scamming the system
You have a new subscriber 💙 love this video
Imagine when AI and robotics will replace our jobs and we are “retired” forever. Humans were never meant to work ourselves until death. We were given the garden to take care of it and each other.
Hobbies like competitive masters swimming, golf, participating in BBQ competitions, homebrewing. That's why I look forward to retirement. Oh yeah, and traveling with the wife occasionally 😂
Since all the variables are different for each person, what are the variables?
😮😮😮