Why You Should Retire WELL BEFORE 65
HTML-код
- Опубликовано: 6 фев 2025
- Today Azul shares 5 reasons to retire sooner rather than later. And, if you watch till the end, he shares 3 "secrets" of the financial planning process that will help you feel more comfortable retiring sooner rather than later.
=== Azul's "Scammer" Warning & Disclaimers. PLEASE READ!! ===
Be careful of scammers. In the comments, I will NEVER suggest you contact me, offer any investment products, recommend an adviser or anything similar. Some scammers ask for investment help in the comments and later, other commenters post how "great that idea/investment/person is" in the replies. This is a scam. Do not fall for it.
MORE FROM AZUL:
Twitter: / azul_wells
Essays: www.azulwells....
NEED FINANCIAL ADVICE?
1) Google "fee-only financial adviser" or visit www.NAPFA.org
2) #1 question to ask any financial adviser is "Are you a fiduciary to me 100% of the time" Get the answer in writing
3) Please note that some people call themselves "fee-based". This is NOT the same as fee-only. Fee-only advisers have committed to being a fiduciary to you 100% of the time.
4) Speaking just for myself personally, I would only hire an adviser who is a fiduciary to me 100% of the time. This is not a suggestion on what you should do. We are all different and I do not know your personal situation.
MY VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer):
This information is provided to you as a resource for informational purposes only and should not be viewed as investment advice or recommendations. To get professional financial advice from a fee-only financial advisor near you, please visit www.napfa.org.
The decisions on how to invest, when to retire and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the decision that is right for you and your family.
This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor may NOT be suitable for all investors.
This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
I don't believe in "get rich" programs. Rather, I believe in doing your homework and working with professionals who are a fiduciary to you 100% of the time.
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
I retired at 47 now 64, and it was the best decision I ever made. I have no debt. own my house cars always pay cash, no credit card debt, and you can live comfortably. Nice to wake up every morning and do whatever I want!
Not everyone can do that. You're a millionaire, so good for you.
That sounds awesome. Don't have to be a millionaire to retire early. I'm a believer in this. I'm also not retired or wealthy.
What did you do for health insurance? That's what hangs me up!
@@Laura-sx3ju The affordable healthcare care act! I was shocked to learn that I qualified for it as a semi-retired person. Definitely look into it! I've been using it for 5 years and not paid a single premium.
@@lifewith9cats153 No premium? Wow! Suppose I can play around on the website using what I estimate my new income in retirement to be and see where I'd land. I appreciate the response 😊
Retired at 58 due to a corporate downsizing. I wanted to retire at 55 but stayed for the “package”. Silly mistake. I worked in HR and knew that the difference in your pension is basically the cost of lunch. So many employees would call in trying to figure out how to delay retiring. And I would try to make them look at the numbers. But they would stay to 65 or even 70 and six months later they die. The additional stress of those years had burnt them out. Now after 9 years of retirement, I couldn’t be happier.
This is so true. My ex-manager and her husband both worked past retirement age until they completely burned out. They both needed full-time care not the retirement that I want.
Retiring soon here at 51. I can always go back and do some work in 10 years if I need to and haven't allocated my finances correctly. Too many people wait too long - and they retire at home where expenses are high. Foolish.
@@JayandSarahI 💯 agree! Folks need to look at retirement in a different/lower cost of living area. This is key!
@@JayandSarah
Where do you go??
@@Jkaye13 we have just started in our first country now. In Albania at the moment.
Retired at 57. Earlier than i planned. My wife has some health concerns and is older than I. We wanted to be able to enjoy retirement while we could. 5 years into retirement and haven't looked back. We continue to seize the day. Keep up the great and encouraging videos.
Are you following the 4% rule? I'm curious how much people spend in retirement.
We are taking 4% from investments, have some passive income and my wife's social security. I'm not planning to take mine until 67. This allows us to live comfortably here in portugal, and have money for travel. Also we are debt free.
I have been very blessed to have some good friends who were older than me. One lady ran a family owned corner grocery store. She told me NOT to do as she did by spending her whole life in that store. She worked in that store until her husband took ill, then she spent years taking care of him until his death. By then she was old and frail. She told me they had planned to travel when they got older, but when that day came their health wasn't there.
I had another feind who retired when he was 60 and he told me to retire just as soon as I could while I still had good health.
Well, I paid our home off when I was forty and have been totally debt free eve since. I retired when I was fifty and still had good health. We have built two new homes and four commercial biuldings since. We currently own eight commercial lots with five commercial buildings which we collect rent from. We have bought new cars, trucks, and motorcycles since my retirement. We went on several motorcycle vacations and camped out along the way. We ENJOYED retirement.
But every good thing comes to an end. My wife got cancer in 2010 and has battled cancer eight times since then. SHe maxed out on Chemo, radiation and Cyber Knife treatments. SHe is currently on Immunothearpy treatments and will be every 28 days for the rest of her life. SHe had 12 surgeries in ten years. Even after all this we were still enjoying life and traveling by motorcycle. We bought 49.5 acres and started a farm where we had milk goats, cows and chickens. We sold hundreds of dozens of eggs each year until her cancer spread to her lung and brain. That's when we sold the farm and bought a nice home on 5.25 acres.
We were still enjoying life the best we could, but three years ago her hip was hurting and the doctors said she had vascular necrosis. That's where the blood flow was ruin to her hip by the radiation she had back in 2011. FOr the last rhree years we haven't traveled at all bacuse she can't walk without her walker. When you travel you usually have to walk to see the sights, and she can't.
I say all this to confirm what you say in this video. You are telling people the truth. RETIRE JUST AS SOON AS YOU CAN WHILE YOU ATILL HAVE GOOD HEALTH TO ENJOY RETIREMENT.
50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
Nobody knows anything you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
I agree, that's the more reason I prefer my day to day invt decisions being guided by a init-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a init-coach for over 2years+ and I've netted over 2.8million.
@@instinctively_awesome8283 I actually subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?
@@Alejandracamacho357 The thing is that I really don't like making such recommendations. But there are many freelance wealth managers you could check out. I have been working with "DEBORAH SUE BOHN" for about four years now, and she's made decent returns. If she meets your discretion, then you could go ahead.
@@instinctively_awesome8283 I looked up your advisor's full name and she appears to be trustworthy and knowledgeable. She is a fiduciary who acts in any individual's best interests. So I left a message on her website, and I'm hoping she responds soon.
Just retired at 66 for the second time, I tried it at 57 for two years but hated it, just had 5 years in a fantastic job with little stress and lovely colleagues. I'm very apprehensive not because of money but because of missing the human interactions I love at work.
Keep doing what you do. Whatever fulfills your life is what you need to do
I’m having the same problem. Retired at 51. Now 54. I’m bored and depressed. Miss the social of work. Feel aimless. Strongly considering finding a full time job.
@@mrhawkeye293 Tha's fine but if you don't financially need to work, then consider joining an active church you can get involved in. You can build good relationships with good people. Even if not religious, at least consider it. Works for me. I have somewhere to be everyday now and people depend on me but not overwhelming at all.
I retired at 46, planned on 50 but things changed. I still have a "keep me busy" job for health ins mostly. I saw my parents work into their early seventies only to die within months of retiring. I saw my opportunity and took it. TAKE your opportunity when it presents itself and do not look back.
That’s awesome. I’ll be 40 in a few days. I’m nowhere near retiring. I’ve seen so many people die recently and never even make it to retirement. I’m hoping I can get the finances together in the next few years.
I think it depends what kind of work you have. There is a totally different type of jobs you can get today compared with 50 or 60 years ago. You can work until you are one hundred and don't break a sweat.
in other words, you didn't retire. Why do people feel it necessary to pretend?
Multiple data shows that people die within 5 years if retirement, maybe the golden rule is don’t retire. My boss is 74 and still as strong as a bull.
@@DANIEL-ls5ku Like I mentioned, in today's economy some jobs can allow you to continue working without breaking a sweat.!
I feel blessed that I was able to retire at 56. Sure I’m not making as much money but I’m so much richer in time. The one thing we can never get back.
Amen
Thanks. On a non-money issue, I would highly recommend getting your health in order - eating, sleeping, and exercise. Can add years of healthy enjoyable living to our lives. Most of my peers (I'm in late 60s) are in bad shape. Best investment is in your health before its too late.
As a 62 yr old personal trainer, I couldn't agree more.
I agree! Health is wealth!
100%
I retired at 64 (now 73) and my husband retired at 62 (now 75). We saved for retirement and never spent more than we could afford. We both stay busy, me with selling on EBay as a hobby, fitness classes, mowing 6 acres of grass and trimming, and socializing with friends. My husband has been working on installing an inground pool, for which he bought a backhoe and did all the digging. He has done so many projects before and since retirement. The old adage of get it done before retirement as you won’t have the time once retired is so true. Keep active, your body and mind will be thankful!
Yep
your shooting for the stars, most people have no where near these kind these assets! I work with 60 year old's that barely afford their cars.
Azul, I love your videos. Just retired at 59. I won't be rich but I won't work till I die
Me too. Not rich, but happy to be retired. Health care is not an issue. I have TRICARE for life and also have VA with 100% care and no co pay.
Yesssss, totally agree!!!
At 77 years old, I enjoy your videos. Thank you.
I just quit my job at 51, because I just couldn’t take it anymore - ongoing burnout over the last several jobs had definitely left me feeling like I’m on shaky ground from a mental and physical health perspective. And as a single woman, with no children, why not? I can always get a job later. And I’ve moved outside the U.S. to save some money & break out of the “American Dream” & overworking mindset. If I can take a year to reset, we’ll see what happens. But I hope that this is it for me, and I hope that this is actually the start of my retirement. I’ve been docking away money in my 401k for years, so I suspect that if I even picked up a part-time remote job for a couple of years, I should be good to go. But I’m willing to take the chance. And I LOVE Die with Zero!!
May I ask where did you move to? Is it affordable I'm also single at 57 still paying off my home. My job is burning me out to the point of making me sick.
But what do you do about health insurance? Seriously.
This is my dream. To retire at 50. But I'll be 50 in few months and not possible. Wish you had a channel documenting your early retired life. That could also be a stream of income.
@@laurenml1222 many countries do not require you to have health insurance - not necessary
Retire early and do what? You got to have something to get up for.
I retired at 57. I had 30 years at my job and knew it was time to go
One thing a successful retiree never discloses is how they got to realize that the key to amassing wealth lies in making sound investments. I purchased my first home at the age of 21 for $87,000 and sold it for $197,000. My second home, acquired for $170,000, was later sold for $320,000, and my third property, purchased at $300,000, fetched $589,000, with buyers covering all closing costs and expenses. Not reaching a million before retirement feels like an unfulfilled goal. STAY MOTIVATED!
You have done great for yourself. I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success!!
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
I steer clear of using firms as wealth managers because their extensive bureaucracies often hinder favorable returns. Instead, I opt for individual wealth managers with established track records. You might want to explore a couple of them. Personally, I collaborate with Stacie Lynn Winson.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
Excellent. I retired at age 62. One challenge was health insurance until Medicare and age 65. We limited our retirement income from age 62 to 65 to qualify for subsidize heath insurance (Obamare or ACA). That saved us over $25,000 in health insurance premiums annually.
Just hit 50, I plan to retire at 60. Home already paid off as well as 3 rentals in the SF Bay Area. Now the goal is stay healthy and enjoy life after retirement. At the end of the day, I can’t enjoy money if not healthy or take it with me.
Agreed. Health is very important.
Thank you for your videos. I retired 6 months ago at age 61 and sold my house in NY and moved to Madrid Spain. Best decision I've ever made. The thought of continuing to work at my stressful job makes me cringe. Life is too short!
I’m in New York,, and quality of life is decreasing daily here. 56 now and thinking of an escape plan more and more.
Madrid was my late father's dream to live there.
@@Financefunandfitness quality of life in Spain is great and good and affordable healthcare.
@@lizcoleman5229 thanks for the information
I’m so glad that you’re living your best life in Madrid. Carpe Diem.
I'm 51 and have nothing saved. I am considering selling my house and investing the money into ETFs with monthly dividends. I figure I could have 300k after closing costs and paying off my remaining mortgage, car and credit cards. I know it would not generate enough money to live comfortably in North America. I really like the idea of selling everything and say living in Thailand or Vietnam for 10 years or so. I could believe I could live comfortably there off dividends as well as re-investing monthly. Can't stop thinking about it.
I’m 51 now and I’m already thinking of retirement. Thank you for sharing! Love the video!
I retired 7 months ago the day after I turned 62. I was DONE. We have a FA with Fidelity and she ran the Monte Carlo Simulator for us. We are in the 95 percentile. And we don’t even have 1 mill. Not even close, but we are well into the 6 figures and the house is paid off. My wife has a pension and Fidelity cuts me a check for a couple grand each month. I’m not collecting SS until 65 or 67. We don’t spend lavishly but we do travel. Retiring early is the best thing I’ve done. I’ve never been busier, working around the house, doing my hobby, photography, and taking online classes.
Finally, someone with some real-world practical numbers and a comparable scenario! Thanks for your comment.
Am from East AFrica(kenya)my prayer was to retaire before 60yrs.i started preparing my self at 35yrs eg financally mentally and downsized my lifestyle. I retaired at 54yrs this my 3rd yr and i cant complain and so long you have a sorting person you are ok
It's recommended to save at least 15% of your income in a 401k. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time. don't think I could retire with less than $3m in income generating investments and i'm not talking 401k, maybe $2m at the very minimum.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
Hope you bought a lot of crypto because the banks are going to freeze all accounts after the stock market crashes and start issuing a UBI. Most boomers are disconnected living comfortably now while the system falls apart. There will be crypto banks and ATM's everywhere.
I retired at 56 and I am now 58, my wife is 53 and also retired. It really takes some time to get adjusted. What I imagined it would be like, is quite different in reality. One of my Father's buddies retired early in the late 1970's and he always said: The problem with retirement is that you never have a day off. Very true. Great video! Thanks.
I like that saying!!
Inside of every 80 year old man is an 18 year old kid asking, "What the hell happened?"
I live that phrase! Thanks for sharing it with me. There might be a RUclips video with that title sometime soon…😎Azul
I'm 48 and think that. Time flies by.
Yes, our experience as humans does not allow us to pinpoint exact year and day when this changed our that changed, outside of major accidents/events, i.e. I was hospitalized on this date for this, and tore my tendon on this date. Rather, it is the slow dulling of our energy. Retiring early let's us spend more time exercising and reducing stress.
Time passes elusively and accelerates through basic math as we get older. @@RetireAlready
I have been teaching art for 25 years. In my 14th year they cut the art program in our district for three years so I lost that time and income. I debated whether to teach a few more years to attempt to make up for some of that loss. But when the pandemic hit, life as a teacher completely changed. It was like learning an entirely new job. And when we returned to in person learning there was another new change. Children have no idea how to focus, listen, make choices on their own, etc. Behavior issues skyrocketed. Plus immigration hit my district on a huge scale. Over 80% of my students don’t speak English. My job has become something I never imagined it would become. The stress is overwhelming. So I decided to retire in June, 2024 at age 62. I have concerns but none equal my desire to relieve some of that stress and the health issues it has been causing. I just found your videos today. I want to thank you. It has been reassuring to hear that my decisions are valid. One being to collect SS starting as soon as I retire. I will be watching more of what you have to share.
I’m a soon-to-be 64 yo female and I just retired! I was shooting to do it on my birthday 2024, then my birthday 2023, but ended up retiring a month early. Just starting my 2nd week of retirement and loving it! It is a bit scary just because I’ve worked since I was 19 without much of a break. I have a financial advisor and I consulted him before making the decision. I have no regrets!
I would definitely have regretted working into my 50's and 60's.
good for you. I'm 65 and retired 4 months ago and love it too. No regrets.
I appreciate the balance perspective, there is so much more to life than having a ton of money.
As an RN case manager, I agree that a lot of patients I’ve worked with are younger than 60 years old. The highest percentage of hospitalizations come from diabetes-related illnesses. That includes but is not limited to: obesity, cardiovascular disease, kidney disease and more. These people are the ones who are most likely not going to age well. What you fail to include in your assessment is that people who “slow down” on their expenditures as it relates to travel and other things will also incur more expenses when it comes to medical care. They used to have great HMO’s and PPO’s but that is a thing of the past. And pharmaceutical costs for seniors is astronomical. In fact, these costs can put a family into bankruptcy. If you tell people to go out and live their best life because they only have a few good years of good health left, you should take into account all those thousands of dollars in health care costs that will be coming down the pike. This is a fact that I’ve seen all to often over my career.
Your videos are very inspirational. I’m a Canadian who retired at 60 and my wife at 58. We’re very fortunate to have a defined pension from our employer, with full medical benefits and life insurance plus provincial and federal government pensions (not to mention that we have free Medicare in Canada). I’ve managed to build a very respectable nest egg, we’re debt free and as you said, financial security is a huge chip off your shoulders. Even though we’re quite careful and take care of our health, you never know what tomorrow will bring. As I keep saying to all my friends and family, if you can retire earlier, go for it.
Thanks for this. I just retired at 63, and you have really helped ease my mind about the future
The Reality We Will Die Anytime That's For Sure, So I Am 60 Thank To God, Still Kicking Yet, I Can't Planned Nothing All I Can Say, Let Time Keep Going And Do Your Best When Time For You To Decide Your Retirement Let Time Go Maintain Healthy Watch Where You Going From Now On Don't Spend Money For Something Unusually Spend Wisely Remember You Going To Need When You Depending On Your Retirement, Save As Much You Can Travel Go Fish Do Thinks That Keep You Busy Enjoy Life Good Luck And Put God First On Anything Uou Want To Do Something 🙏❤️🙏
“Live life to the fullest” you are 100% correct
62.5 and retiring May 31st. Excited and a little anxious, but know it’ll all be good. Good video and insights. Thanks! 😃
The biggest fear of most retiring people is future out of control inflation.
I’m 57 and retiring soon from 25 years at a high tech company as a lawyer. Will be going back to school on the GI Bill for three years (from my active duty military days). The GI Bill pays me a salary and I will get a housing allowance. I will be following my passion and going to culinary school. If you are young reading this and want to retire early, consider the military reserve. You will get a lot of benefits when you do 20 years, and you will get healthcare and a pension when you turn 60. It will be a huge lifestyle change going back to school, but I will be doing something I love (I have no plans to cook professionally once I am done with culinary school).
Listening to this, Azul, I'm oh, so glad I live in Australia and am entitled to our Medicare system re those "Go Slow Years." Incidentally, I've been retired for 28 years - took voluntary redundancy at 59 - and still have yet to reach to No Go period. Though I must admit that at 87 I'm in the Go Slow period.
Send him a direct message.
Agreed, knowing that we have Medicare in place takes away one big unknown. Compulsory superannuation also makes the retirement question very different for us.
Only because you’re born in the right era… a visit to the gp now costs younger people money… where are high taxes going to??
People grappling with the difficulty of meeting essential expenses often encounter this situation due to inadequate savings during their working years. The decisions taken in readiness for retirement carry extensive consequences, as demonstrated within my own family dynamics. Despite my husband and I having equal tenure in civil service, differing investment approaches yielded disparate results. Guided by a financial advisor, We are both retired and still earn monthly from our investments.
Indeed, that's accurate. I'm currently in my mid-50s. My husband and I were on a similar path until a couple of years ago when I decided to shift my investments to his wealth manager. While I haven't quite caught up to his accumulated profits over the years, I'm at least earning more now. I'm generating income even before retirement, and my retirement fund has experienced remarkable growth compared to what it would have with just the 401(k). It's quite amusing.
It's regrettable that many individuals lack access to such insights. I understand why people might become anxious. Insufficient information can indeed pose significant challenges. Personally, I've been able to generate over $25k passively simply by investing through an advisor, and the best part is, I don't need to exert much effort. Regardless of economic fluctuations, skilled wealth managers consistently deliver returns.
*@shirleygarland4766* Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.
Do your homework and choose one that has strategies to help your portfolio grow consistently and steadily. ‘’Mary Onita Wier” is responsible for the success of my portfolio, and I believe she possesses the qualifications and expertise to meet your goals.
I've taken the initiative to research Mary Onita Wier online and verify her credentials. I'm impressed with her expertise, and I've reached out to her to share my financial market goals in detail.
Thanks for sharing. I am by nature a carefull guy. But I am also a realistic person. I am almost 56 now and seen unfortunately some people go, or get very ill in their 60ties among them my sister. I don't know anybody in my or my wifes family or relatives that where still going on adventures in their 80ties ( many of them got really old). When you are really lucky the good active years are until mid or late 70ties, and after that things will slow down as Azul mentioned. Going earlier in your retirment give you by default more active years and secondly give you more possiblities to invest in your healt and give you with that maybe even some bonus years on top of the active years you already have. I am living in Switzerland, moving back to Holland where lifecosts are lower and healthcare is really good and affordable. My goal is to stop working with 58. When you got into discussions with collegues it is always the same, my pension will be half of that as when I retire with 65. But I get in return 8 good years, we have some good savings, and I can also have a good life with much less money. Kids are gone, morgage is gone, and don't need 4 or 5 starts hotel and everyday restaurant eating anymore to compensate for a busy job. Living more simple, living more light. Investing in friendships, in experiences and less in things. Growing up more simple, it is not so difficult for me to change lifestyle again. My cousin wrote even books about it and is nationally know as the "happyness professor" at the Radboud University ( www.ru.nl/en/people/dijksterhuis-a )
AZUL, DO A VIDEO ABOUT YOUR 5 FAVORITE BOOKS TO READ BEFORE YOU RETIRE!!!
I am 63 and have a telepsychiatry business. I see patients on my computer. There is no physical component. I like working. I could work indefinitely as long as my brain holds up. I watch TV or RUclips while I am working. When I am off, I watch TV and RUclips. My wife is the same age. She will retire at age 65 and take Social Security at $2,900 per month and I will start at age 66 and 10 months receiving $3,400 per month. We have a net worth of $3,000,000 invested in stocks and commercial real estate. All bills are paid. My psychiatry business makes about $20,000 per month. We travel internationally every 2 months because we are curious about the world. I love the good life, so I seen no reason to retire.
Planning retirement has never been this confusing! First SVB, then Signature bank and now First republic, these are all the signs of yet another 2008 market crash and recession 2.0, so my question is do I still save in the United States dollar, or could this be a good time to buy stocks? So I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here,
>Everyone needs a different stream of income , unfortunately having a job doesn't mean security due to the high rate of tax , one needs to move ahead their expectation, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter.
@@Veteran2002 true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@AlbertGReene-p8w Do you mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.
@@OttoLane-j9z I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with "NICOLE DESIREE SIMON" for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
@@AlbertGReene-p8w I just checked her out and I have sent her an email. I hope she gets back to me soon
Secret number four. Stop thinking that you are going to live to 90!!!! Nice video. Thanks for sharing.
Good tip - comparing 95% probability to, say, 80%. As a scientist, we always looks for that .05 level, but you're right: there are tradeoffs, and those need to be factored in. Great video.
If you can't afford it you are not retired, you are unemployed... Retirement is great when you know that there are enough resources.....
What’s ‘enough’???
@@Rickmac22 what is "enough" years of freedom?
See, now we need to define freedom...?
@@Rickmac22 you need to know yourself and define what you want. But remember, you will never get perfection and you are not going to live forever.
I am retiring from my 'day job' in February next year at age 63. But, I also am a personal trainer and manage a small gym. To me, fitness is not work but is a hobby for which I get paid. I am blessed that I am in this place at my age. Always looking to help older people live the rest of their lives the best that they can through health and fitness but having fun too. Just subscribed.
Oggie, I LOVE small gyms run by people passionate about fitness. When I am visiting a town, I look for the little coffee shop, a small mom & pop restaurant, a good library and MOST IMPORTANTLY .. a great gym! Thanks for subscribing. ... Welcome to the family! 💪🏻 Azul
I recently moved to another country where it is better to live - sunshine, the sea, healthier, stress free lifestyle. Now I work 3 months of the year.
I have more time to myself.
I have lived like this throughout my 30s, 40s and 50s. It's a lovely work/life balance - the emphasis being on "life".
I have done many different kinds of work and have many skills.
Sometimes in the west we can be sold a lie and think we have to follow a particular way, which can be stressful.
In my 20s I witnessed a lady from my work retire at 65. We had a small party for her.
One week later she passed away.
Matthew 6:25-34
Yes, please books... these days after the election 2024 your videos are the most hopeful things out there.
Yes! The five books we need!!! Love your videos!
Almost there! In the last year of our three year plan! Planning to retire at age 55 later this year - we put this plan into action & are excited for our next chapter!
Considering retirement at 56. Mortgage paid off, good pension available. Love your videos
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement.
I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it,Investing is a long-term game, so I will focus on the long run.
I can't focus on the long run when I should be retiring in 3years, you see l've got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn't provide any calculated risk opportunities to make profit?
@@belobelonce35 There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
@@edelineguillet2121 I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been years now and l've gained over $850k following guidance from my investment adviser.
@@yolanderiche7476 I've been down a ton, l'm only holding on so I can recoup, I really need help, who is this investment-adviser that guides you
@@valeriepierre9778 The thing is that I really don't like making such recommendations. But there are many freelance wealth managers you could check out. I have been working with "Jeffrey Harold Starr " for a long now, and he's made decent returns. If he meets your discretion, then you could go ahead.
Azul, I enjoy the fact you are not just focusing on numbers, BUT the why you should retire. Thank you and keep on posting!
Just came across your videos and they seem very timely for me. I've just turned 60 and have been debating (mostly with myself) on when to retire. Thanks!
I'm 61 and own my own business. I love what I do and don't think I will ever retire. I know too many people who retire early and either get bored and go back to work or become very sedentary and their health starts to deteriorate. Some of the oldest living people I know worked their entire life, well into their 80's.
I am 59 and thinking about an early retirement at 62... Your words in this video have comforted me and validated my thought process.
What I really like about your videos : you're very down to earth in a casual way.
I traveled when I was young, did a gap year before college, and lived/studies in different countries. True adventure travel is for the young. When I retire next year, I still want some novelty and adventure, but I want to travel in comfort. After all, what good is all that saving and investing if I would still sleep on a yoga mat on a beach somewhere.
So very true...
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far.
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management.
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
That's quite impressive! Can you share more information about your financial advisor?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I am 59 years old with net worth just over 2 millions. I have been living frugal like college kid. I like to visit counties like Suri Lanka, Thai, Portugal and live like local people. This video relates to my situation a lot. Thanks.
I retired in 2020 at the age of 55.
Best decision I’ve made.
I worked out how much money I need in the the three phases of my life.
GoGo, Slow Go and No Go phases.
Also, come spring next year, planning on downsizing our home.
I have No debit and will have a workplace pension.
Azul, thank you. 28 years ago I thought I would never retire. I enjoy what I do, and until a few years ago I preferred being at work than at home.
But that changed a few years ago. I'm 62 and my wife is 61. We are in good health. All of the sudden we feel tired. I keep changing our retirement plans. Last year we decided to retire in 2027. Then in 2025 (when I get 100% of my pension), and know, listening to you I'm thinking 2024 even if we lose 20% of my pension!!!
Not to late to get your energy back. My stress level from work has decreased dramatically. And now the more physical activities I do, the more energy I seem to have. Best of luck to you and your wife!
J 9
😊9😊😊😊😊😊😊 14:00 😊
Don't do it! In 2026 and beyond you'll be so glad to have that extra money. Please believe me.
I just had a conversation with my 80-year-old self which is quite easy because I am indeed 80 years old! I didn't take the advice in this video to retire well before 65 (I retired at 68) and I'm very pleased in retrospect with my decision because my best earning years were in my 60s and I found my work at the time very fulfilling. The additional funds that I earned and saved during this period gave me a large enough financial cushion to pretty much assure (without the need for a Monte Carlo simulation) that I will not run out of money barring some very extreme end-of-life medical expenses. My net worth is still very close to what it was when I retired (thanks to a couple of pensions, IRA rollovers (from 401(k)s), Social Security, and investments, and I continue to be very active and engaged in my community. I have been taking about three vacation trips per year, all of them domestic. (I'm not a big international traveler by nature.) So I have had 12 excellent years since I retired, my health is good, and I'm looking forward to several more years of being very active. (There is longevity in my family, which increases my confidence at this point.) I also don't want to "Die With Zero" because there are a couple of people I want to leave money to who have real financial challenges. So my main point is that retiring well before 65 is not necessarily the best course for everyone.
Your response made me laugh out loud. 🙂
I retired at 62...best thing I ever did! You never know what life is going to bring! I watch my money and on a tight budget ..but that's okay! You are so right on everything!
Good advice. I agree with the whole premise of retiring as early as possible. Im 51 and will retire at the end of the year. I can’t wait. My wife and I have planned well, having low debt and fairly substantial reserves. You can always make more money, but can’t get more time.
Yes, please recommend five must-read books on retirement, Azul!
My aunt worked and saved her whole life. Retired with a great pension. Six months later, she was dead.
That's major suckage!😮
Retired at age 55 from the academic world mainly because I had to help with grandchildren while my child was in grad school. I worked straight through from age 13 ( part time ) to age 55 and only took three months off to have my child in the 1980s. I even worked part time after I retired for 3 years until the pandemic hit. I would not have been able to retire except that, because I had worked in education for 30 plus years, I was able to keep my health insurance for almost the same amount I had been paying when I retired. I also had a pension. But it was still very hard. I’m not rich. I and my family have this strong work ethic, and I was looked down upon for retiring that early. Also, I was used to getting up early and working. All my friends were still working. I felt lost and did not know what to do with myself for a while. I recommend finding a hobby, or something like exercise, that you like to do and cultivate that BEFORE you retire.
Great advice I’m in Nottingham England and about to retire in 18 months time at 55 and can’t wait. Love your videos 👌
Love your talks, just found your channel. I am 57 this year husband is 66 this year. He has been retired for 10 years. I want to retire from my big job but scared of what happens when all that stress just STOPS. My husband took a while to adjust. New Subscriber! 🎉
I am going to retire from my day job that I have been doing and do actually still enjoy in February next year. You have to do what's right for you. I entered the fitness industry as a personal trainer at the age of 57. Health and fitness is not a job. It's a hobby that I get paid for.
I’ve been a stay-at-home spouse but my husband is now retired and we want to travel. We don’t splurge or anything like that. The inflation has hit hard and we began to draw from his 401k which is in safe investment. We wish to make the money grow, should we get an advisor?
Hiring a financial adviser means having someone look at everything from cash flow to investments and risk management to estate planning and legacy.
The ones I find are young and I feel may not consider age when working with us. They also tend to charge a little bit higher than the average 1% aum. I wish I could get a referral to someone that a fellow investor has used.
Yeah, the problem is finding a reputable one and not just some accountant, the ones that have passed the exams qualifying them to be financial advisers. Who is this person that guides you? Can I get a contact?
great share, I'm looking forward to discussing with your planner after the chat I had with a correspondent on her platform
Advisors just take part of your money. Watch this guy and you won't need one.
I retired at 64.5 because my company was sold. I am so pleased that I stayed until it was sold and so glad I left soon after. It made the decision date very easy. While I do not live by the 4% rule, I do believe that you need to have 25 x your living expenses in retirement savings before you retire. I spent on my home before I retired n majors items; kitchen reno, new roof, etc pre-retirement. That allowed me to spend more for travel in my go-go years on travel in the early years without the need to make major expenditures soon after retirement. I can defer these expenses post go-go years and when I start taking SSA income.
Thank you for your videos. One more year is no longer
In my vocabulary.
2023 is the time to start the new chapter, "Retirement
Is a Positive Thing."
Appreciate the perspective, insights, advice, and ways to think about things. I turn 59 soon and think about retirement every day in some way. Especially like the ask your 80 year old self question. I remind myself of quality of retirement life relative to wealth of retirement life. I don't need a new car for retirement as much as I need to retire when I want.
I’m enjoying your confidence, knowledgeable advice while casually walking, talking, smiling w/an occasional wink at us! I’m working my retirement plans out now for 2026/2027 (I’m 60 now)and my husband will be a year or two after me. We already own our house and have no debt, so accumulating savings while I ‘practice’ retirement (GREAT idea!) with up to 4 weeks paid vacation each of next 3 years.
And I love that scene you re-enacted in Dead Poet’s Society. Very powerful life perspective
“Practice retirement “ me too! Since I made a bad investment and now have to work longer I need to make these last years not just about money but about fun!
Semi retired at 47, I fill my time with things I choose, but no full time job now, small projects that I like and can give back to keep my mid active. And lot's of exercise. Lost 8 inches round my waist, reversed diabetes and other health issues caused by too much work/stress. Much happier now.
Such great advice! I'm 36 years young, broke, and still feel retired in paradise. I shared this with many of my retired friends in Koh Samui Thailand.
Yes, I would like to know the 5 books you recommend. So many to choose from and can’t always tell what’s gonna be good or not.
Love the talk to your 80 year old self suggestion. This is a powerful one!
Azul, I have to give you a lot of credit for the great content. Like most that have seen your videos, we view other videos with similar content. You’re videos are very thoughtful with good common sense advice. One area I’d like you comment on is purchasing healthcare for those wanting to retire before 65. I’ve seen a few other videos, but it’s probably the single reason many won’t retire early. Keep up the great work!!
He has already done a video on that.
Getting healthcare before retirement is not at all difficult. It just tends to be costly. But, that is just part of the equation. If it costs $20k per year, you just budget that.
@@randolphh8005 20k per year and budget for that ? That’s probably okay for about 1 in 500 thousand people honestly. Are you serious?
@@tomTom-lb5cu you are obviously unaware of what healthcare will cost you going forward.
Once Medicare starts figure $5000 per person per year with some variation by county and state. If you can qualify for ACA you might pay a little less than 5k before Medicare kicks in. We payed $20,000 per year before retirement. Once income dropped substantially to qualify for poverty level coverage, our premium dropped to $300 per month BUT with a $10k deductible. Probably spent $2000 of the deductible with no major medical events, so $5k out of pocket after receiving a $15 subsidy(tax credit).
The population that Azul is talking to should be able to stomach $10-20k per year for medical before Medicare and $10k per year after.
Unfortunately for most retirees Healthcare is 10-25 % of their budget after retirement.
I would also suggest that only about 20% of retirees could afford to retire early because of healthcare costs.
I can’t retire anytime soon. But I’ve been considering stepping down at work to reduce stress, better schedule, and I won’t have to manage anyone.
I love your comments, & theories! Always listen to you, but also listen to life & how God truly runs our lives, not totally what we want to run! Keep up your great work !!!!!!!!!
I am learning a lot from your videos. Thank you!
Azul, relatively new viewer and I am drawn to your straightforward explanations and topics. I’m 56 this year and planning to stop the FT career by 60… or sooner if the business gives me a “reason”. You have helped me realize that my efforts to save and be prepared “are enough” and to top focusing on a specific $ amount. Keep up your great work!
Thanks for the book recommendations Azul. I may be laid off next year. I will be 62 and was planning on working till 67. But now I am forced to react to this possibility. Your videos really gave me a new perspective about retiring early. Thanks for your candid content..
As much as I enjoy listening to your videos...I feel that they are pointed to a particular demographic. I.E...folks who have lived a life of crossing their t's and dotting all of their i's...
A large amount of people couldn't conceive of early retirement even if they really wanted to. Unless you have had steady, well paying work for all of your adult life....and have been consciously saving/investing for all of that time...retiring in your 50's is near impossible unless you move outside of the U.S. That being said....I did retire at 55, but that's only because I worked in a well paying school district and was in it long enough to collect a full and decent pension. I am a horrible saver, unmarried and without children...so I have been a bit selfish with spending.... I found a very enjoyable position as a remote part time teletherapist ....which is supplementing my pension... Otherwise I'd probably be one to work full time for as long as possible.
On a different note. ...I feel that it is necessary to have a form of spirituality to keep a proper perspective in retirement....especially as life throws curve balls that were not at all in your plans.
This is all completely false. Get out of the matrix.
My brothers didn't go to college. Both were multimillionaires in their 50s. Don't spend money.
Exactly. I'm 44 and only got off the breadline 3 years ago. For the first two years I played catch-up, buying furniture, going to the dentist, seeing health professionals I needed to see. It's only in the past 6 months I've been able to save in a big way. I'd love to retire tomorrow or even at 65 but I don't see that as likely the way rents and cost of living is sky-rocketing. I'm on my own, always have been always will be. Life is extremely expensive alone.
Exactly! His videos aren't for everyone! His messages DO assume that you've at least cared a little bit about your future and have done something in your early years towards your retirement. But, yes, if you are a complete mess when it comes to your finances and have done nothing to prepare for your future, you should probably look for a different type of video than this one.
@@GrnXnham lol passive aggressive hyperbole
How refreshing to have an informed positive view of retiring “early” - thx 🙏Azul
Love the video. Please continue. Im 55 and on my way. Thanks for the advise.
Just discovered your videos and appreciate your approach of educating by using humor and personal observations. Thanks for sharing some valuable information by putting the information in context and easier to understand. I am planning my retirement and you have given me some useful advice and practical resources to help me make the transition. Thank you!
Yes please on the 5 seminal books. Hell yeah or no, Die with Zero.............. Thank you for sharing your wisdom, in addition to your knowledge
Yes please do a show about your favorite books!
Love your information Azul! Thank you. Many of your topics ‘are’ my questions. 👍🙏 Thanks!
I am doing the best I can at holding on for 5 more years at my job. I have to earn a little more to have a decent monthly income from my retirement plans. Thank you for the video. 59.5 is my goal age to retire.
That 1st statement about a 60 year old having less than 1,000 weeks left is extremely thought provoking. I retired at 60 but probably should have left 1.5 years earlier. Once you have sufficient funds, it's all about time and health.
Why 1.5 years? Why not 2 years or 2.5 years?
Great channel. I'm only 39 and am considering retiring but i have no clue what I'll do all day.
Outstanding channel! I already follow or know most of the advice you give, but it's helpful reinforcement. I did enjoy that suggestion to speak to my 80 year old self, hadn't considered that😀 He tells me to party like I've only got one life to live. Yes sir, will do!
What you said at 7:15 is exactly spot on what I used to think as a young lad. 👍🏻
Yes, please, the 5 books video would be appreciated, thank you!
A friend recommended I listen to you to help me decide to retire