Retired at 64 in the middle of Covid, sold house, built new house in Scotland. The stress of suddenly ceasing work after 35 years sent me into deep depression. I got out of it by becoming involved with the community in the glen - hospital driving, clearing up, repairing, DIY, cutting and logging firewood, doing odd jobs at the kirk, lecturing on my work subject, road cycling, climbing, kayaking on the loch, swimming, just having fun. I'm now back to being a balanced, normal irritating old twat.
It sounds like you've found a fulfilling way to embrace retirement! How do you balance your active lifestyle with contributing to your community in Scotland, and what activities bring you the most joy in your newfound balance?
Good for you. Many of my friends who retired after working for years in the hospital, found another job within 6 months of leaving the hospital. It only convinced me to never retire.....lol.
I am approaching retirement and I don’t feel I will miss my job or work. Any advice on how to tackle any emptiness feeling and how to manage this transitional period
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Being rich is not about money. It's about being healthy and living a long comfortable life. 6 yrs. Retired. Don't have a bunch of money but I have my health and live a rich rewarding life..
100% AMEN! I retired at 57 after working real jobs since I was 13. Most younger folks today don’t start working until college or shortly after. I have a pension and we’ve very good savings, but in no way wealthy. I am lifelong exerciser, and ALL the $$ in the world means nothing if you don’t have your health. Regardless of how many times this has been said, the vast majority of our society still IGNORES the link between health and longevity. NOBODY states on their deathbed, I WISH I WOULD HAVE WORKED MORE.
I agree. That is why I live in the Philippines from the USA. Money go a lot longer here. So many good things to do here! Over 7000 islands and I go to them. I’m 67 great shape and health. Loving life in the Philippines!🌴🌴🌴🌴🌴
Retire ASAP!! I don’t have much money either. More would be better, haha, but I’m OK. I am retired, healthy, travel some, have family, paint every day, am very happy and thankful. Stay involved and interested in life!
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
Agreed at a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an adviser, as this allows you make smarter investing decisions.
I have been retired for 11 years and my wife 13. We do what ever we like everyday, each day we sleep in then get up and talk about what we are going to do each day. Over the last 10 years, we are out enjoying ourselves 6 out of 7 days per week. We eat out everyday and travel, but only in the US. We just drove out to Utah from Indiana and rented a side by side then spent several days riding the Piute Trail System. We paid our house off twenty some years ago, so we have little to no monthly bills. We are both in good heath and rarely go to any doctors and both have pensions plus money coming in monthly from savings and investments. The reason everything is going so smooth in retirement, is the fact that we both planed for our retirements starting at age 20. We made little headway in our 20s but made huge strides in our 30s, 40s, 50s and 60s. Now, everyday is a Saturday, and every night is a Friday night. Believe me, it's all in the planning.
The sad part is that the younger generations have no idea of the meaning of the word "planning". They live in the moment and when tomorrow comes they want to know where they went wrong. I can't count the number of things I was taught in school which have proven to be of no value to me even once in my life, but at no time was I ever taught the merits of preparing for the future in any practical way. I was fortunate to have had a father and mother who experienced the World War and the Depression and I learned more of value from them to prepare me to achieve a successful life than all of my school instructors combined.
What a fantastic testament to the benefits of long-term planning and enjoying retirement to the fullest! How did you and your wife approach financial planning over the years, and what advice would you give to those just starting to plan for their retirement?
Inflation's impact has become worse lately. With the rising cost of living, my main concern is ensuring a comfortable retirement. If I end up with only $500k, I'm worred i might run out of money
I'm almost ready to retire, and having a fund manger has been incredibly beneficial. Since I started investing later in life, I couldn't rely on compound interest from index funds. Nonetheless, I've managed to earn more than some long term investors. I'll be retiring with at least $5 million
I generally avoid giving specific recommendations since everyone's situation is different, but I've worked with Emily Ava Milligan for 7 years and attest to her great service. see if she meets your criteria
Be Happy Now. Don't wait! Find a way to serve others. Im 70 and have been fully retired for 5 years. One thing i would add to the list is to unburden yourself from the past and let go of some toxic relationships. It can be done with grace and dignity, just ease out of those relationships...no bitterness or drama required. That's my 2cents
In regards to letting go of toxic relationships, that’s exactly what I did after I retired. I had a long time “best friend” - we first met in high school and stayed very close for many years. We were each groomsmen is each other’s wedding and did many activities together. Yet there was always a toxic side to our relationship that seemed to increase over time. He also started to engage in behaviors that I found increasingly hurtful. I did indeed ease out of this relationship when it started to become obvious that it was time for a change and this friendship was no longer a source of happiness for me. There was a final straw event that caused me to have a epiphany and I started the process of disengaging from our relationship. We have not had any kind of communication for over a year and I want it to stay that way. Not all relationships, even a long term one, are going to last until one of you dies. I once thought that my best friend and I would always have the same relationship but his repeated hurtful behavior made it so that wasn’t going to happen, sorry to say.
What do you mean by let go of some toxic relationships? Do you mean physically distancing yourself, or emotionally ignoring them, but still having relationship with them?
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
In my 50s, I'm focused on investments for retirement. I've heard of people generating substantial passive income, like someone who earned $200K under a year.
As a regular investor, it is difficult to outperform the market. Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio kept increasing by 10% monthly.
The older you think and act, the older you WILL BE.KEEP THAT IN MIND.I am now 75 , still on my small farm, still raising much of my own food and carrying 50# bags of feed. My house is on three levels...and no challenges there. No scrips, no doctors, many times I catch myself doing exactly the same arduous task I did 30 years ago. I wonder why it is taking so much longer, then I realize most folks my age wouldn't even attempt it. DON'T THINK OLD OR YOU CERTAINLY WILL BE OLD.
@Michelestellar7725 ...after you tote all those 50lb bags of feed to the barn, could you come over and help me move some heavy furniture? And then there's the safe I need to get upstairs somehow... ;-) TIA, -- BR
@@billredding2000 well, be advised take that safe upstairs one stair at a time. The furniture just need to be pushed, a big strong man should have no problem. I still move my furniture and even my refrigerator and stove so simple really. When I was younger like early early 50's I had a house built, the shell, but no $$$ to complete the inside. A bit at a time I finished it... insulation, drywall , interior partition walls from the studs to dry wall and paint. Flooring too. I still live in the house, but as years went by I could afford the luxury of not having to do my new roof and siding. I just wanted to insure no maintenance in the future. Built a 24X24 barn too.
@@michelestellar7725 I was just kidding with you... Although in my mid-70s, I STILL do everything by myself -- even moved a 900lb safe by myself (the 2 Gold Gym muscle-guys hired never showed). And I do all my moving/packing/U-Haul trucks/trailers by myself, too (no professional moving company) as I move about every 4 years ro so (so far, but plan to buy a house in 2 years). But then I HAVE to do everything all by myself as I'm single...a good reason yes? I mean if *I* don't do it, it doesn't get done. It's ALL on me. THIS particular safe though is a lightweight at only 370lbs -- no issue. ;-) BTW, like you I've done other things in life too (besides being in the military (twice) and halfway up the Ivory Tower in Academia), meaning I've done home construction/repair, car repair, PC repair, appliance repair, hunting & growing food, and other such "everyday life" things (well, if you lived in FRONTIER times it was "everyday life" for sure). Whatever, HARDLY EVER did/do I need to go see or call-in a "professional." And I've washed my clothes by hand for over 30 years...unless an apt I had came with a washer -- but my current apt doesn't so I'm back to hand-washing again. No big deal...my next apt will have a washer (when I move back to CO in said 2 years) as those "upscale/luxury" apt complexes usually ALL do. However, I don't use any more brawn than I have to...not because I'm lazy, but observing that old saying, "Work smarter, not harder," so I use physics to deal with heavy things. That's partly due to some physical mobility issues, too, but still it's ALSO just being smarter. Despite all that said, it DOES get a "tad" harder as I get older: Say whatever you want you can't beat Father Time. No one can. And I haven't mentioned it also gets me MENTALLY tiring over time: ALWAYS having something that needs to be done. Especially when you've DONE everything for most of you life (no "division of labor" here, thank you). So...exactly WHEN did you say you'd be available to come over and move that safe upstairs? ;-) ...again kidding, so it's a rhetorical question only. -- BR
Well done. My handyman worked till 78. He's home fulltime now and miserable. He's still capable but burned out I guess. Now, he's on the doctor circuit which I see over and over with some elderly people. They get passed to one specialists after another while the doctors feed on Medicare and private insurance.
@@scottw5315 if you are still young Scott, take need to what the old folks who are still ACTIVE and forget they are supposed to be feeble say. Think you are old and you will be, and you will be on the Dr. 'treadmill ' of more and more medications to fight the side effects of the ones prescribed for some condition you didn't know you have until the Dr ferreted it out. Drs do NOT MAKE MONEY ON CURED PATIENTS, THINK ABOUT THAT TOO.
Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Stocks like Nvidia stocks and ofcourse AI stocks that will align with my risk tolerance and financial goals but it seem to be bearish right now.
It's smart to consider diversifying your portfolio, especially in uncertain times. How do you typically assess and adjust your investment strategy to align with market conditions and your long-term financial goals?
Life is short, so make the most of it! Embrace every experience, whether sweet or bitter, and don't waste time complaining. Remember, hard work is the key to success, and it's more powerful than luck. If you agree, show your support.
Realistically, many young people don't have that level of disposable income at age 25 due to student loan commitments or internships, which means a higher annual commitment will be required at a later.
Now imagine how difficult it is to meet those simple needs if income is limited to a monthly Social Security check. Unfortunately, millions of people now face that life-sobering challenge because they could not set and address their investment goals earlier in life.
I truly sympathize with people with disabilities who aren't receiving help from anybody. Thank you, Anna chitidze seeing my $5,000 investments growing.
WOW! You just mentioned Anna chitidze Indeed, that woman has been an incredible mentor to me, imparting a deep understanding of the economy that I wish college had provided.
I retired at 49, and now I’m 55. I ate soup and oatmeal while coworkers went out. I didn’t buy the hobby “toys”, but worked as much as I could. You have to act differently if you want different results.
Well done! I bought my first house at 25. That started my life as an investor. I was searching for real estate on weekends when friends were watching football games. Been mostly retired since age 54. I still manage the company but that's just a few phone calls a day.
I am in my sixties, and it forever amazes me when so many of my retiring friends, have absolutely no idea what to do with themselves, once they stop doing paid work and have all that free time. It as though for their whole lives, they had no ambitions or interest except for going to work. I have never had enough time for all the things I want to do, time is so precious.
I agree. I was a workaholic but retired at 55 and I have so many hobbies and couldn't wit to dive in. I don't miss work at all and still don't have enough time to do what I enjoy.
You are so right.I remember about 10 years before I retired a retired co worker came back to visit.We chatted for a bit and she laughed and said, "I never would have thought I would be so busy once I retired".I retired 2 years ago for health reasons at 62 and I keep thinking back on her words because I feel exactly the same way- I'm constantly active, never bored and more fit than I had ever been before.A good strategy before you retire would be to take stock of your interests , dare to dream a bit about what you'd ideally like to do , formulate a plan and finally , once you retire , start acting on it.
That's such a valuable perspective! Staying engaged and pursuing passions in retirement can truly enrich your life. What activities or interests have you found most fulfilling in your own retirement journey?
1. Know Your retirement life ( spend - hobbies and travel living expenses) 2. Mentally, physically and Financially 3. Purposeful act ( personal game meaningfully) 4. Don’t waste your time on comparisons 5. Finding a right house at right locations ( current & future) 6. Weather ( as we age tolerate) right place 7. Consider health care ( maintenance of your health- near by Dr) 8. Friends & Family ( friendlier place , plan to do things 9. Mobility may be difficult so giving care to health
I am 71, my husband passed away 4 years ago. I am not alone. I have three sons and have good care from them everyday. I live with them. They make sure I see all my doctors. We live in sunny california.I am in good hands. I keep busy doing crafts,walking, reading and writing freelance.I am enjoying my last years just fine.
As recession fears mount on Wall Street and inflation remains well above the Fed's 2% target, some of the top commentators in markets, business, and economists have been sounding off on just how bad they think the next downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
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 licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
Elizabeth Colleen Nurre is among the most accomplished portfolio managers in the industry, widely acknowledged for his outstanding work. I highly recommend taking a closer look at his impressive portfolio.
I've been retired for about 5 years now. It is very important to keep a sense of purpose in your life. The world around you tends to ignore and forget older folks. You can become "invisible" if you don't make and keep friends. If you are a Christian and a church member try to serve in a ministry of some kind. Serve those around you.
For men today we are used to it. Most men are invisible to women. Men are more likely to isolate today and use tech to supplement. If there was ever a best time to be invisible it’s today because most people stick to themselves.
Maintaining a sense of purpose is key in retirement! How have you found fulfillment through serving others or engaging in meaningful activities since retiring?
Great advice! I do have a suggestion, though. Many who assume they will not be able to climb stairs in their 70s or 80s conceive a self-fulfilling prophecy - the less you climb, the quicker you reach a point at which you cannot climb. My Dad climbed steep stairs from his garage until he was 88 years old. Many centenarians in the blue zones climb hills and garden. Keep using your muscles; you will be more likely to live longer.
Exercise is important but you need not have stairs in your home. It's too expensive and too late to modify your home to accommodate you if you have an accident.
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with, I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like ‘Iynne Marie Stella‘ who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Hi i will like to have info on how you actually did it and how to go about it because my retirement is close and i have no investment after retirement . I think i still have time to do something useful .. please can someone advice me on what to do ?
You said a mouthful, and I couldn't agree more. I was fortunate enough to start working when my employer still offered a pension. That went away in 2012 during labor negotiations when my employer switched to a matching 401K plan. I still get my pension since I was grandfathered into the old plan, but have also taken advantage of the matching 401K plan. That actually builds up quicker than the pension plan if people take full advantage of it, but they don't. It's like leaving money on the table. I see these young guys hiring on in their twenties and the first thing they do is buy a new 4WD truck, a 5th wheel to tow behind it, and a couple of new ATVs to take into the desert and play around; all of this purchased on loans that will take years to pay off. Before they get any of it paid off, most will go our and upgrade to newer models of their toys and start the payments over again. Before any of them realize it, they are in their 40s and have nothing saved in a 401K that our employer is willing to match. That is a lot of free money being left on the table. Back in 2019, there was another round of contract negotiations. I told the guys to demand that the company bring back a pension plan or some other form of retirement beyond the 401K since none of them can seem to save any money. The only thing any of them asked for was a better salary to buy more toys. I am not saying that people should not enjoy the fruits of their hard work. There are ways of enjoying life without staying in permanent debt.
Very true! Financial stability and purpose are crucial for a fulfilling retirement. What strategies have you found most effective in navigating financial challenges and planning for retirement in today's economic landscape?
@@StressLessFinancial I kind of mentioned it in an earlier comment. It is quite simple- live within your means. I can't thank my wife enough for managing our finances throughout our marriage and being happy with what we can afford. In our 41 years of marriage (we got married at 18) we have never owned a new car. She has always been happy with a well-running used car with low mileage. We have never owned a boat, RV, ATV, or all the other expensive toys that sink my coworkers into a lifetime of debt. Nothing is ever financed including the cars we've bought over the years. Although we could afford a reasonable car payment, my wife prefers to save the money until we can afford one which also makes it easier to negotiate the price. Maybe I just got lucky and married the right woman because she has always been happy with a frugal lifestyle. Throughout our marriage, I have always wanted to buy some nice things because I felt that I worked hard enough and deserve something to reflect that. She has always shot back with "it's not in our budget" Now that I have seen what she has saved for our retirement, I can't thank her enough for restraining me from splurging.
Retired at 56 seven years ago. It is great as you can imagine. Don’t worry about having a purpose in life. When asked what do you do with your time say “anything I want”. Nothing more to explain.
Sounds good to me. Soon to be 59, targeting 62 as when I will retire. My "purpose" in life is to be happy and enjoy myself, my family, and my friends. Sounds like that's exactly what the original poster was saying...at least that's how I interpreted it. I don't need to have some big, grand Instagramable purpose...and I'm certainly not going to spend MY retirement WORRYING about my purpose in life! I'm going to do the things that make me happy with the people I enjoy being around.
My entire career after the USMC was in transportation. I started my own company in 92 and sold it in 2000 and probably could have done it then but stayed in it for a few more years while investing in real estate, a hobby business I still do (selling firearms & knives as a Class 3 SOT), etc.@@jagervolant7871
At 62, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.
Herman Jonas, an astute financial analyst is the brain behind my success. I've gotten into a plethora of assets with $43k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now I sit back, and just reinvest at intervals while I enjoy my retirement.
Do not forget that when it comes to the stock market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence.
I retired at 50, happiest day of my banking career. You now have that one important commodity that those who go to work don't, it's time. Ensure you give it a value and use it productively to enjoy life, improve your income even when you are sleeping and increase the savings you can make.
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
Everyone’s been preaching investing lately as a source of passive income but with a 70 hour weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see every RUclips video saying BUY BUY! But when and how do I sell for profit at the right time?
is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?
Finding financial advisors like vivian jean wilhelm who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I just retired at the end of last month. Before I retired, I made a bucket list and there are 53 items on it. I am single woman at 56 years old, live in Tokyo. As the value of Japanese yen is deprecated against other currencies these days, although I want to travel to foreign countries, it costs a lot. Therefore I am going to travel all over Japan for the time being. I enjoy your video to learn many tips for my new life and it is good to maintain my English skills as well.
Only just retired myself - unexpectedly. I live in Australia and already feel I want to travel here rather than overseas. Everywhere else is expensive, and I have seen so little of the country I love. I'm so interested in your bucket list, as there were only 2 things on mine, and I crossed one off just before I retired. I really don't know what I want to do!
@@thatswhatisaid8908Thanks for your comment. The items on my list are such as: 1. Relearning math, 2. Relearning biology, 3. Relearning chemistry, 4. Relearning physics, 5. Visit to Église Saint-Pierre de Firminy in France, 6. Play “Pavane pour une infante défunte” with piano, 7. Start oil painting, 8. Relearning basic structure of computer software, 9. Play video game of Dragon Quest series (Square Enix), 10. Travel to Hakodate and Asahikawa in Hokkaido, 11. Stay in Bali island more than 1 month, 12. World cruising, 13. Travel to Okinawa (already done!), 14. Watch World Cup football game in North America to support our national team, 15. Change hair color in pink, orange or blue radically, and so on. Now I have 58 items and I already finished travel to Okinawa. You should start to make a list. - Category (Life, Sport, Learning, Job, License/Qualifications, Travel, Social Activities, Participation to communities) - Item - Deadline - Budget - Status(Not Started, Work in Progress, Completed, Delayed, Suspended, Canceled) You should work on it immediately. Life is short!!😉
I bicycled 14 miles round-trip to work for decades. I was as fit as anyone could be, but pancreatic cancer found me a couple years after retirement. No one can predict what retirement and age has in store for you. Hold on to your relationships and expect limitations to come your way eventually.
@@catcaa9027 I don’t currently have any health issue. It was my mom that had pancreatic cancer. I’m also a cancer survivor of non Hodgkin lymphoma back in 2000. I’m a cancer survivor of 23 years now.
Im 58 and 2 years from federal retirement. I have several friends who retired and have doed or are in nursing homes because they went from working 10-12 hour days to sitting in front of a TV. My dad retired 25 years ago from federal service after his army career (I was Navy) and he's going strong at 82, working out and shooting every other day, as well as volunteering. Youre right - no one knows how many years we have. Blessings to you!
I’m 62 and retired two years ago at 60. The one thing you left off that list is to cancel your Amazon account. It’s so easy to order stuff online if you’re not careful you’ll have several thousand dollars a month in bills from Amazon. I can afford it & we live comfortably. I have a fantastic pension, but you’ll spend a lot with online shopping if you’re not careful.😊
Thank you for that I will be retiring at 60 next year (God willing) and I spend alot on Amazon. I have gotten better by leaving stuff in my cart until I get paid and now put it on my debit. I find I do end up deleting most of the stuff but I do need to stop shopping on it
eBay for me and I could never do an auction cuz I would win that pencil auction, and pay waaaaay too much for the privilege. I actually deleted my eBay app as I realized what a really great consumer I am. Well, I've pretty much owned anything my heart desired sans yachts, 2nd homes and now that I have fixed income I cannot have the luxury of convenient shopping. Nice to see others here with the same draw.
Thank you for your video. Its always food for thought. I'm 60, now thinking about retirement at 62. The best advice is to try and stay healthy. I would rather be broke with good health, than rich and broke down.
I retired at 59 & 1/2. That was six weeks ago. So far, i am enjoying not having to rush my morning coffee and getting all the things around my house fixed, cleaned and re-organized.
Remember time is a luxury you have that others still working don't. Give it a value and increase your income even while sleeping. Multiple income sources are the key to a financially secure retirement, nothing clever just simple things you understand.
I have a coworker who is obsessed with talking about the retirement age when you’re eligible to receive social security. He doesn’t understand I can retire early since I have a IRA. I’m really tired of him mentioning the retirement age too much.
I am currently in my 40s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Research dividend aristocrats and choose six to ten companies with over 25 years of dividend payments. Consider working with an asset-manager to build a strong portfolio.
A good percentage of people do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… now my dreams are getting bigger. Going from ($50k to $600k) is surreal all thanks to insights from a professional.
She goes by ‘’.Sonya Lee Mitchell’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
My husband and I retired 8 years ago. The best advice I can give people when they ask is…downsize. We went from a 4 bed, 2 bath home to a 2 bdrm apt with a balcony. So there’s not much need for spending money on unnecessary stuff because you will run out of places to put it. We do not have to worry about spending time or money on outdoor maintenance. You’d be surprised at how much that alone can free up your time. We made sure to make health and exercise a big part of our lives. I think the first few years are important to get out there and travel, enjoy day trips, walk or bike trails, etc. Make the best of those initial retirement years while you still can enjoy them.
I’ve lost so much in the past 8 months from failed economy and banks,Real estate crash,depressions,stocks,dividend,you name it What a terrible year it is...
@@allympili3437I'm with you buddy! A bit less than two years ago I was sitting oh-so-pretty and within 12 months I had lost two thirds of my portfolio! Since then, I've managed to claw back a bit but I'm still down 50%. It's been incredibly stressful and I'm still sitting on tender hooks. In hindsight, I should've cashed out and exited the high risk game. Just not worth chasing more and more when one's retired!
When I started working I wanted to retire at 60 years of age. I am now 66 financially able to retire. But I enjoy my work and I get 18 days a month off with 6 weeks holidays. I cannot see myself retiring. I like working with younger people and the relationships I have . I just feel like I have purpose in life..
It’s about freedom, I am able to travel anytime of the year, I go to the gym , I keep a better Physic than in my 40s Be grateful, eat healthy. Enjoy life.
I want people to know that retirement can take some getting used to. It won't happen to everyone, but for me, after a month or 2, I had a little too much time on my hands. If that happens, just keep looking for projects and places to meet people - don't get discouraged.
Retired at 56, 3 years ago. Absolutely love being retired. So many hobbies, projects and travels my wife and I just love it. So what we want when we want. Never a schedule! We prepared well.
Thank you for touching on more than just the financial aspect after retirement. My husband and I retired about eight years ago and have kept busy with hobbies, and friends. He passed away three months ago after a long cancer battle. Taking care of ourselves the best we can is the most important thing we can do in retirement.
I am in my mid 40s, haven't begun my retirement plan and want my financial portfolio to be set to where I no longer have to worry about having enough financially. I am looking for your help please.
Retired now going on 2 years after working for 37 years, I will be 60 this year. You have to continue to move around, exercise, do things that make you happy. I’ve always had a young spirit. Don’t forget to laugh it keeps you young. The exercise, someone very wise told me, if you don’t use it, you lose it. I Love being retired, it is an adjustment but can be for the better. It’s what you make of it. Best part of it is you are your own boss and don’t have to punch in anyone’s time clock.
My gosh, I’ve been retirees for 3 years and I never have a need for purpose. My purpose to do whatever I want to do which is pretty simple really. I retired in the pandemic and what my plans were vanished before my eyes with the escalating cost of housing in most places in Canada. So all the planning couldn’t prepare me for that. You retire when you are done working and make it work. I am.
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family…
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks..
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@mnthunder Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial consultant . For the record, working with one has been the best for my finances...
@@AllisonSherman657 How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@@mnthunder *Mr Gary Mason Brooks* is the licensed consultant I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
When I retired the first 26 years was as my accepting wife's carer with her MS. It was definitely a full time job, 24/7. In the end it had a big impact on my own health - a heart attack and pneumonia. She has now passed. But I've fully recovered and now free to enjoy my retirement. I exercise by walking fast a LOT and keep fairly well. I'm grateful for that. Although I get a bit lonely, I am OK. I am gay, non-practicing. I always was. I am 76 and as a retired Baptist Pastor and accountant, the church no longer forms any part of my life. Wise. I have just bought a new car and will start to do a small amount of travel. Everyone is different.
@Ronsmith2241 Hello. I am happy for you that you have peace in your life. I have to ask a question though, and I hope this doesn't come off as being rude. I apologize if so. You say you were married for many years, however you are gay...and always was. Can you tell me...why did you get married to your wife it you "were always gay." I apologize if it sounds rude. I am not trying to be. I am just curious and would like to have some insight if you don't mind sharing.
@@girlygirl1890 He is 76 so born in the late 1940s, turned 20 in the late 1960s, was a Baptist preacher and conservative. Sooooo many gay men at that time (and earlier) married women because it was expected of them, especially in conservative families and cultures. Today it is much better but still a long ways for free and welcoming, just look at the relentless hostile conservative attacks on LGBT rights, including the Supreme Court that is now rethinking the right to marry. My question - how did you not know this?
I’ll be 71 in December and still working part time…. Can’t even think of not working because I don’t really travel or go on vacation…. It fills my day I guess and still kind of exercise by walking a lot at work… if I retire completely, I’ll be sitting on the couch and watching tv all day , not good
Good advice. It seems like stuff we all should know but many don't. I retired in September 2023. Here are some of my experience so far and thoughts for the future. First, I LOVE not having to go to work. Frankly, with so many bad bosses and weird clients, work had become a life draining ritual. After I retired my wife and I moved to our favorite place that we had visited many times and where she had relatives...Knoxville, Tennessee. My plan for retirement is, lots of walking and hiking in the mountains; playing my guitar a little everyday. spending time with our dog; cooking (I love to do it and now I have the time to shop for fresh ingredients); some woodworking; some volunteer work; and lastly, some days just sitting around under our gazebo, reading a book and sipping on a margarita! As I get older and slow down more and more, I'll moderate my activities but do what I can to stay mentally and physically active. By the way, after 48 years in the lame career, I applied at the local community college to teach as a part-time adjunct professor. I have not heard back from the college after 4 months. Perhaps they don't value experience. I know most people don't.
My main takeaway from this is to make a plan, decide what you want to do. Things might not go exactly to plan but you'll likely do better with a plan than without.
80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.
I got my 'freedom 55' last year, and it was great at first. Now I'm bored out of my mind and have lost a sense of purpose. I need to work again, so I've decided to seek out those who need a hand-up and partner with them for mutual success. What's weird is I desired all sorts of stuff when I was broke but now that I'm flush with cash I don't desire much and am more frugal than I was when poor. I can go buy a nice new sportscar but prefer to drive my 2008 Honda Fit. LOL.
My initial retirement was all about taking care of my stroke damaged wife. I also did a lot of building, decks, a gazebo, firearm restorations, rebuilding and elevating the house from hurricane damage. But after 6 years I lost my wonderful wife of 42 years. Its been very hard but I am involved with my son, his family and grandson. 2 years ago I went back to work 24-28 hrs a week stocking produce. Love it. I pull in 70,000 a year total, have no nest-egg to speak of and am comfortable, own my home. Did the prostate cancer radiation thing last year, don’t chase gals, smoke or drink. I do play my piano and try to shoot a couple cas/2gun matches a month. You gotta move. That recliner will kill you.
I'm semi-retired. Soon to be 73. Work 2 days/week plus keep busy with my home and my dog that has allergy issues. Things that will eat up your savings include home maintenance/repairs, car maintenance, increasing property taxes, car insurance premiums, Vet bills, doctor/prescription expense plus the state of our economy is making it hard with higher food, gas, etc prices. Makes it difficult to enjoy what should be a relaxing time before I check out. (AZ)
My partner and I are retired, and we thought we had moved to our "final home." As it turned out, our needs changed as time went on. We found that daily tasks, like cooking, cleaning, and maintenance, were becoming harder to do and more of a burden. We decided to sell our home and rent in a senior independent living community where meals, weekly cleaning, and all utilities are included. We have no yard work, maintenance, or repairs to worry about. No property tax, no home insurance. This is more expensive than living in our old home was, but we had planned well, are debt free, and are able to afford it. We sold the old home, and the proceeds are helping fund our current situation as well. As you age, this could be a good option. Be sure to check carefully. I recommend communities that do not charge you an "entry fee" up front.
Thanks for the insight, so it's either cheaper living but break you back/knee faster or save up more since asap/childhood and be on the lucky roll to join the uber hack community of the senior independence club...like the super app club for last mile living if I may put it that way, hopefully when you go in even the last ceremony is covered that would be a great AIO planning package. AI : find me the best optimized budget friendly senior independent living 'clubs' around the world/Gmaps show me my nearest club that suits all my personality traits...thanks youtube and folks that have life tested this stuff...seems like a build to be tested friendly plan...that's all folks
17 years ago, I helped my parents do the same. Eventually my mother needed private nursing so we hired a PCA to come in and help her. She passed 3 years later but my father lived in the independent retirement community for 17 years and passed away at the age of 96. I don’t think he would’ve lived as long if burdened with the troubles of maintenance of a house, mowing the yard, etc. Enjoy the amenities!
I’m 67 and still working but I’m enjoying working. But I’m retiring next year and I’m busy as a bee. Even when I retired I’m sure I’ll keep myself busy in everything that I enjoy doing like playing tenpin bowling 2x a week, going to church, travelling here around Australia and outside Australia. Life is good and life is what you make it. Regards and God bless 😊🙏🏼💖
‘Life is what you make it,’ so true. We all look for the structure and predictability that a career provides in retirement but that’s not how it works. Create each day what you want your day to be. It takes energy and is different than a routine all set up by a career, but that’s retirement.
At 70, I wish I had stayed as active, or close to it, when I retired 2 years ago. I feel as if I've aged physically, 10 years. Thank you for these important tips.
It does seem that we age more rapidly after 55-60. Thankfully, after exercising consistently since high school, I feel more like 45 than 65.......then I look at myself in the mirror. Rule of thumb: Stay away from mirrors!😏
At 68 I now need a hip replacement, but that doesn't stop me from being in the gym 5 days a week, something I have done for over 50 years. Find something physical you enjoy and do it, you should also meet some nice people which is a real bonus.
@@jjefferyworboys8138 5 days a week? You may be overdoing it unless a couple of those days are strictly aerobic activities. Your muscles need in between days to rest. We do walking or stationary biking every day, but weight-bearing exercises are three days per week, only.
I am 73 I am still working and enjoy my job. Running an apartment in Chieng Mai. Thailand. I change only small rent fee and they are all happy with me. Only 100Dr. A month. I helped them they help us. We both win win. We both happy.
I'm 56 and I'm retiring in 45 days. Thank you for this information. My husband and I have been preparing for retirement for 10 years. Our main goal is to work on being healthy. We have a few travel plans we want to do.
interesting video. I am a physical therapist and work in home health. and I see all the time the mistakes that some retirees make: Get a living will and somebody to be your power of attorney!! please!! have somebody to make decisions if you get incapacitated!! you never know when are you going to have a stroke or fractured hip, the worst moments to think in something like this is when you are in the hospital.... I know..I know .. nobody want to think in this....we call it, to be in denial.... Please do not get attached to material things, how many times I have seen patients to break a hip or finish with other disabling injury for a fall stepping in the mothers' or grand mother's rug, they never wanted to remove it because it was part of the family, believe me a good picture is a much better way to remember loved ones. PLEASE!! do not buy houses with stairs, or apartments in a second floor with no elevator, you will regret it forever after you can't walk independently. And please never..never.....ever say I won't go to a retirement home when I can not be independent......because there is a big chance that you will spend the last years of your life in one of them. have a plan B...... enjoy retirement and keep moving....
Lots of good advice in there, some I haven't done yet like the power of attorney. Our home enters on the 2nd floor with only 2 steps at the front door. When I can't walk anymore, I won't need to go downstairs once I move the laundry machines into the garage. And yes, I want to stay here forever, but you just never know and I can't burden my family (just hope they visit).
I am in my early 40s and i see my retired Mom lost all her motivation within 3 years of retirement, avoiding even to go out for groceries for weeks. When i click on your video, i assumed it will be on finance like most other but then as i was listening, it resonated with me, I appreciate your video on this topic and will check out more of your content, thanks 🙏
Your mom may be in the beginning stages of dementia. My mom started withdrawing from friends, then family, then everything. Start watching her closely and read up on signs to watch for.
I retired in 2012. In 2012 my monthly expenses (rent, food, utilities, insurance) was $1600 a month and now that exact same lifestyle, no debt, same apartment, same paid off truck, same monthly bills (rent, food, utilities, insurance) cost $3000 a month. $1600 a month rising 6% a year for 11 years = $3027, so average real inflation for last 11 years was 6%. Everybody planning for retirement needs to plan on 6% annual expense increases just to stay even. 6% compounded annually means that expenses double every 12 years (72 / 6 = 12). Retired persons need to grow their income during retirement.
No matter how well we plan or prepare, life will always end the same. What we do with life while we can, always should be the focus. Live every day however makes you happy, retired or not.
All great advice and things to think about. I'm in Minnesota, so yes lots of shoveling, raking, mowing, and house maintenance due to constant fluctuations in temperature. That said I own a paid off beautiful mid-century rambler that I purchased for my wife with m.s. I lost her 2 years ago. Instead of selling and loving to a smaller low maintenance home and area. I just bought a new snlowblower and mower to keep moving and tackle all that this climate can throw at me. Unlike my older neighbors whom I've witnessed rapidly decline as they have everything done for them, I'm going to use my body, retire early, garden, hike, and hopefully find a little time for some social life 😄
Very very helpful!! I retired at 56 - Mandatory retirement. I only wish that I had watched something like this then , or prior to having to retire with a good pension! Regardless… this video is extremely accurate and one thing for sure: THE BEST PEOPLE TO GIVE ADVICE ABOUT RETIREMENT IS INDIVIDUALS THAT ARE OR HAVE BEEN RETIRED ALREADY!! Thank you so very much for the video!!!
@Michael-ur3on in the US you can start as early as 62 and as late as 70. The age range will always go up as its not a sustainable program, hence the reason it's expected to drop payments by 30% in 2033. This program isn't meant to replace our entire working income, only provide a little extra to your retirement plan that we should have been contributing to for the past 30+ years.
Great Video, So much truth! I retired 3 years ago at 56 , with 35 years of Govt. service. I can see my health going down already with just 3 years of being inactive. I'm going to make it a priority to get back in shape!! Thanks
I did loads of travelling in my 40s and 50s when I had the money to do it. I still could but simply don't need to. Helping others is very rewarding, I help people in their 80s - they do pay me but only a modest sum. It is very tiring and they really appreciate my efforts but the satisfaction is priceless. I sleep like a log after. I go for long solo walks, good exercise and good for the body and brain.
If you liked what you did in life, then #8 is so important. Nothing was more difficult to adjusting from an all consuming job that meant much to me - to retirement. It is not everyone's problem, but it was the hardest aspect of retirement for me. Volunteer work has been the cure for that.
I’m struggling with that now. I think volunteering could help me with that. I have found this transition to be the hardest I’ve ever faced. And whatever # move it or loose it. So true, Ive got to quit YouTubing & get moving haha
I am having some trouble adjusting to retired life also. Lacking motivation somewhat. I am very surprised this happened to me. I am concluding that I needed the external motivation that my career provided. I’m sure I will adjust but, man, what an unhappy surprise after 30 years of work.
@@learningisfun2108 I’ve always been busy & I can’t even motivate to do my house chores. I think I need a job to motivate me! not for the $ for my mental health! This is nuts but I dream about work, I woke up and just cried this morning. I thought work was killing me, now I think my mind is!
Before you retire make sure you have more money coming in then you can spend. This way you can still be saving through retirement and take care of unexpected money issues. It is probably best not to relocate. Firstly in new locations you will not be aware of local costs, insurance fluctuations, and changes in what you believed were the fixed costs. In your current location you are aware of everything.
And for beewang, never lose your will to live, ever! Not even losing job to COVID. I survived Hurricane Maria on the island of Puerto Rico in 2017 in all that destruction. As long as your heart is beating and you can think you can over come ANY adversity. Of course having spiritual values and strong faith makes a huge difference in one's life. So today, 6 years after I survived the hurricane I am happy to be alive every day. And even if I have a day off from nursing and not doing much that day I am still so very happy and grateful for just being alive! I never stop being grateful to God. This info about the lady named Ann Kristine I will look up because my finances are not good right now. Thank you to all who mentioned her here.
I was just saying this to my partner. Lots of American's move to ChIang Mai, Thailand, pretty, hilly country but summer, humidity, poisonous snakes, mosquitoes carrying Dengue and other diseases, all not appealing to me!
Everyone has their own dreams and goals. You might’ve mentioned that this video was designed for people who want to be in Florida or Arizona. Some of us truly prefer to be closest to our family and are OK with as you said, hibernating, in our homes, during periods of cold. That’s time for quilting reading books dancing at home. You don’t need to move to a big metro to be happy. I think this advice is helpful for some, and part of it is helpful for me. Maybe give some advice for a retiree who plans to stay for example, in the Midwest, close to children and grandchildren, and in the case of the sandwich generation parents as well.
Part of my retirement fund is quilting, knitting, and cross-stitch projects. There is so much to being home I enjoy that I look forward to colder weather.
I plan to retire at the end of 2023 at 59 after 36 years in Telecom as a sales engineer. My wife will retire in May 2024 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report
10# know your retirement lifestyle do your homework how much money you need to maintain lifestyle 9# What are your goals when you actually retire ex travel, garden, fishing etc 8# Purposepful activity - have sense of purpose , personal goal plan 7# Dont waste your time comparing with others with neighbours 6# Finding right house in right location and place 5# Think of yourself exactly what you will be doing during retirement ex physical fitness to do things 4# Consider things you can do near by ex. Graden, or farming 3# Stay close to healthcare services available and has access 2# Friends and family nearby 1# Priority changes as you retire ex. body in motion stay in motion, do physical excercise to stay fit and do activities
Priorities: #1. Pay off your mortgage before retirement #2. Make sure you can get great medical insurance before retiring #3. Don’t buy unnecessary sh!t like new homes, new cars, new electronics #4. Take it slow in terms of travel and regular expenditures (don’t blow through money early on)
I did none of the above. The first and foremost thing that I did, was making sure my son graduated from college (5 1/2 years) first. The rest is a piece of cake. If you restrict yourself, you won't enjoy retirement. If you can't live on less than what you made working full time, you're not ready. No, I'm not wealthy.
@@2-old-Forthischet my mortgage will be paid off when I am 70. I am NOT waiting till then to retire. My dad died of a heart attack at 69. I’ll be frugal, and work a bit part time.
Best advice ever is : PAY OFF THE MORTGAGE before RETIREMENT . If down the road we need more money , we have a full living suite down stairs to rent or have a helper in our elder years . To us retirement is NOT HAVING TO PUNCH a TIME CLOCK any more . 😁👍🏼
I was canned from a very good paying job at 56, three weeks after my company changed 401k managers and lost me a ton of retirement savings. They blamed COVID for all of it. Now at 60 I have lost a lot of momentum and could not replace that income due to age discrimination but had been saving like crazy the 10 years before the layoff. We will call it quits at 65 but in the mean time I am trying to get big things out of the way and find side hustles to do to cushion the transition. We own our home outright, I am building my song list to play bars as a solo acoustic dude in my golden years and we live where we want to be.
This is not financial advice, but youtuber Edu Matrix has info about investing in foreign currencies, and people on Twitter are talking about it. RUclipsr Militia man and Crew is as well.
I’m 70. Retired at 60! Work on my health consistently always have!, i’m constantly reaching out and learning new things constantly volunteering I don’t sit still. Plan to live to be 110 as healthy as possible!, between swimming outdoor bicycling lifting weights volunteering hiking at Estes Park every year I live in Texas. I can’t wait to see what the rest of my life brings me!!
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
I bought my retirement home with property that I would be able to afford on SS when I was 59, I'm now just turning 66 and still working from home with no set date of retirement yet. I have my farm animals and large garden and all the equipment I need to keep it up. It's all about what you want out of life and to make it part of planning.
Awesome!! I tried to set myself up like that too but the farm I was renting for 20 years got unexpectedly sold to someone else. Had to board my horses, give away chickens and cats. Lots of small farm equipment had to be sold cheaply. You are so Blessed. 73 now + can't do the physical work I used to be able to do.
I retired this year, fairly well prepared and am enjoying just resting so far. I am giving myself a year to adjust to this new lifestyle before making any commitments to anything! I enjoyed this video and was able to check all the boxes in your tips!😀
I retired at 53, now 68 and don't have any retirement advice because it's useless, hindering, and can be stressful. I have advice about how to live whether you are working or not. Get off the garbage food and lift weights.
One thing that really wants emphasizing, is exercise as a means to making your retirement healthier for a longer time. I have heard so many stories about people retiring, then putting their feet up and being dead a couple of years later. I retired at 51 being a life long competative amateur cyclist. I still race and train at 65 and my health is much better for it, in fact i am fit as a fiddle, slim, no comorbidities at all and take no prescription drugs whatsoever. You can't enjoy your retirement, if you are unhealthy, or worse dead ! Secondly as Guy Lombardo sang, enjoy yourself, it's later than you think. Keep a financial buffer but spend the surplus. Retirement is no time to be saving money as some people do, because they can't make the mental switch, from predominantly saving to spending, thinking that they are going to live forever but obviously can't.
We both retired in June, at 62&61. I went back to work part time, my husband hardly moves from the couch. I’m very concerned about his health and our future that we were looking forward to!
Sadly, his life will be shortened if he continues to be a couch potato. You may want to join a gym and work out together. We converted our daughter's old room into a mini-gym. Every Monday, Wednesday, and Friday we work out 1 to 1.5 hours in the afternoon. We also walk or stationary bike almost every day. Try to stay active to ward off diseases and other health issues, and keep up with dental care. That is one of our biggest expenses.
Retired at 60. Pension and sold home. Lived on that $ until 62. Took SS. I retired so early in life (and gained lots of skills while working) and have several VERY part-time jobs. I own a time share and rent. Doing fine. Healthy. Travel a lot. Key is to get out when you can! Oh, and pay off what you can as fast as you can! Have tons of interests (most are free) and stay active. Don't think too much; get out there! Don't stay in one place. Move it!!
I retired at 51, not because I didn't want to work but because I would make more money in retirement. At 55 I got bored and started my own side business & got hired working for a company. Now I'm twice as busy and I love it. I plan on really retiring at 60. 🤷🏻♂️
I started working part time jobs when I was 12. Full time through the summers during high school. Full time after college, with periods of a few years of overtime. Retired at 54 and after 3 years, I still have no motivation to work at all and thankfully don't need to
Great video! I retired just over 2 years ago after a stressful career as an administrator in an assisted living community. Best decision I ever made! However, I did find it hard initially to reinvent myself; that first year of retirement was a bit of a struggle. What we have decided to do, is sell our house and are currently getting it ready to put on the market, hopefully this Spring. We initially thought Florida would be where we would go; however, after a trip down there over the summer, I think we've ruled it out for several reasons. South Carolina is looking better and better!
I think the biggest hurdle in retirement is ones self purpose in life, as a working adult, we are measured by the job, titles we hold. After retirement we are just xxx, so its the voyage of self discovery to who are we, and why? Im not to far off from retirement but ive been around parents, relatives that all share the similar predicament. Self worth, self esteem issues and trying to identify onesself post retirement
That's why I stay active in a professional organization and devote 4 hours per week tutoring. There are so many kids out there who fell behind academically during the pandemic. They especially need help with math.
I'm at that crossroad. We are in Vero Beach, FL and I've got to get out of here. Although I grew up in the Miami area for 40 years, I've been away for 25 years. 20 years in north Ga. and 5 years in Maine. I just can't take the heat down here. By 10 am, it's too hot to do anything outside the house and I'm not a golfer. You can just go to the beach so many times. I loved Maine, but Covid killed our plan to stay when we lost all of our Airbnb revenue and I had to cover an $ 8000 property tax bill. So, the next chapter after we sell our Vero Beach home is to relocate to a beautiful town called New Bern, NC. It's got the 4 seasons that I miss, but the winters are mild and maybe a dusting of snow. High 58, Low 38 in January. Great health care, shopping and a sailing community. Regarding doing something with purpose. I am at that point that I've got to get out of the house and do something. I'd like to work about 20 hours a week, earning about $ 12 per hour and clear about another $ 800 per month. It will give me some serious "beer" money to do some things for myself. As a retired home builder, I'll probably build our last home, a cozy 1316 SF 3/2/2 car garage. Doing it as an "owner-builder" will give me something to do and put about $ 50,000 of equity in our own pockets instead of a local builder. I love traveling, but my wife doesn't so I'll have to work out a schedule where I can travel maybe a couple of weeks at a time, but get back home. With the price of gas, it's cheaper to fly to your destination and rent an RV versus buying one and burning a couple thousand on gas traveling across country. First goal is to visit the Reagan Library in Simi Valley, Ca. BTW, I looked at the Myrtle Beach area, specifically Conway and although I liked the area, there wasn't the affordability that I was seeking. I have a $ 250,000 budget, but the resales were real dumps, the new construction wasn't a good value and the manufactured/modular home segment wasn't offering the savings that you'd expect, along with long lead times.
My experience is that retirement will not go as planned. Primarily, this is because at retirement age and later you will probably have health problems (my wife and I have!) that severely hinder the pursuits I had dreamed of and planned. Prepare for unplanned health problems!
My purpose in retirement life changes from day to day. If weather is nice I work outside..anything to avoid housework. I clean when I feel like it. If I feel the urge to go car camping my minivan is ready to go in half hour. After a lifetime of structure I’ve become very self centered and just do whatever I want when I want. I paid off all bills before I retired at 66 and basic monthly bills are under $500. I wound up as caregiver for my mother but she recently passed away so I find I’m more active than when I first retired. I figure I’ve got 10-20 years (both parents were 95+) You never know but I don’t worry about the future.
@@lorihamlin3604 my friends mother side lived long lives into their 90s. He used to say he had to plan for a very long retirement but then he Had a stage 4 glioblastoma diagnosis at 58. He passed away before 60! We just never know.
Actually, having a purpose, which the Japanese call Ikigai, is vitally important. Retirement can be the ruination of people due to lack of purpose and removing the only ohhusical activity and socialising that they had in their life.
Retirement is different for most people. I retired in 2009 from a nonsocial job. So life has continued the same for me. I do travel more yet it seems normal. My friend Mr C was very social and very active, he is now 78 and still working as that is the retirement he is happy with. My friend Mr P is 85 and is happy staying at home. My friend Mr. J is all about his grandkids and is happy with that. Money has not been an issue with any of us. We all live in the same homes we had when working. One of my neighbors was a high-level manager and is having a frustrating retirement. Another was an engineer by day and bike racer & birder and is happy as can be without a job. Enjoyed your video, it hit on a lot of these important things needed to be content in retirement.
I retired in 2019 and my wife turned into a caregiver for her uncle and then her mom and now her dad. My mom got cancer the month after I retired and died in 10 months. Wife’s parents had no plan for their care and death.
I have worked hard since I was a kid. I can only imagine how wonderful it would be to not have anything to do when I wake up in the morning. From the moment I walk into work I’m overwhelmed all day. No breaks, fighting to get a lunch and fighting to get off on time or at least within a few hours after my shift should have ended. When I retire, my purpose in life will be to do for me and my family. Eat right and exercise. I want nothing else to do with stress as I have lived enough purpose in my career to last me to 100.
I'm 57 and looking to retire. Between my retirement money and personal real-estate properties and inheritance I'm looking to sell fairly soon here in SC I'm hoping to retire at 62. So your advice and channel is very refreshing and keeps me optimistic....thanks
I retired at 55 , I’m 70 now , my advice to those thinking about retirement, you will find out that health is more important than wealth
I retired at 68, but my choice would have been to carry on. Just not full time! I loved my work!
Retired at 64 in the middle of Covid, sold house, built new house in Scotland. The stress of suddenly ceasing work after 35 years sent me into deep depression. I got out of it by becoming involved with the community in the glen - hospital driving, clearing up, repairing, DIY, cutting and logging firewood, doing odd jobs at the kirk, lecturing on my work subject, road cycling, climbing, kayaking on the loch, swimming, just having fun. I'm now back to being a balanced, normal irritating old twat.
It sounds like you've found a fulfilling way to embrace retirement! How do you balance your active lifestyle with contributing to your community in Scotland, and what activities bring you the most joy in your newfound balance?
If you don't mind m,e asking, why Scotland? . Thanks
Good for you. Many of my friends who retired after working for years in the hospital, found another job within 6 months of leaving the hospital. It only convinced me to never retire.....lol.
I am approaching retirement and I don’t feel I will miss my job or work. Any advice on how to tackle any emptiness feeling and how to manage this transitional period
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Being rich is not about money. It's about being healthy and living a long comfortable life. 6 yrs. Retired. Don't have a bunch of money but I have my health and live a rich rewarding life..
100% AMEN! I retired at 57 after working real jobs since I was 13. Most younger folks today don’t start working until college or shortly after. I have a pension and we’ve very good savings, but in no way wealthy. I am lifelong exerciser, and ALL the $$ in the world means nothing if you don’t have your health. Regardless of how many times this has been said, the vast majority of our society still IGNORES the link between health and longevity. NOBODY states on their deathbed, I WISH I WOULD HAVE WORKED MORE.
@runnn3107 very well said sir. Glad your enjoying your retirement.
I agree. That is why I live in the Philippines from the USA. Money go a lot longer here. So many good things to do here! Over 7000 islands and I go to them. I’m 67 great shape and health. Loving life in the Philippines!🌴🌴🌴🌴🌴
Exactly
Retire ASAP!! I don’t have much money either. More would be better, haha, but I’m OK. I am retired, healthy, travel some, have family, paint every day, am very happy and thankful. Stay involved and interested in life!
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
Agreed at a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an adviser, as this allows you make smarter investing decisions.
@@LucasBenjamin-hv7sk Can you recommend any? I am in need of a Cfp to grow my retirement account.
Can you recommend any? I am in need of a Cfp to grow my retirement account.
Annette Marie Holt is the licensed adviser I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I have been retired for 11 years and my wife 13. We do what ever we like everyday, each day we sleep in then get up and talk about what we are going to do each day. Over the last 10 years, we are out enjoying ourselves 6 out of 7 days per week. We eat out everyday and travel, but only in the US. We just drove out to Utah from Indiana and rented a side by side then spent several days riding the Piute Trail System. We paid our house off twenty some years ago, so we have little to no monthly bills. We are both in good heath and rarely go to any doctors and both have pensions plus money coming in monthly from savings and investments. The reason everything is going so smooth in retirement, is the fact that we both planed for our retirements starting at age 20. We made little headway in our 20s but made huge strides in our 30s, 40s, 50s and 60s. Now, everyday is a Saturday, and every night is a Friday night. Believe me, it's all in the planning.
The sad part is that the younger generations have no idea of the meaning of the word "planning". They live in the moment and when tomorrow comes they want to know where they went wrong. I can't count the number of things I was taught in school which have proven to be of no value to me even once in my life, but at no time was I ever taught the merits of preparing for the future in any practical way. I was fortunate to have had a father and mother who experienced the World War and the Depression and I learned more of value from them to prepare me to achieve a successful life than all of my school instructors combined.
Priceless!
Sounds amazing!
What a fantastic testament to the benefits of long-term planning and enjoying retirement to the fullest! How did you and your wife approach financial planning over the years, and what advice would you give to those just starting to plan for their retirement?
You're very fortunate...
Inflation's impact has become worse lately. With the rising cost of living, my main concern is ensuring a comfortable retirement. If I end up with only $500k, I'm worred i might run out of money
I'm almost ready to retire, and having a fund manger has been incredibly beneficial. Since I started investing later in life, I couldn't rely on compound interest from index funds. Nonetheless, I've managed to earn more than some long term investors. I'll be retiring with at least $5 million
Your fund manager must be excellent. How can I get in touch with them? I'm worried about my retirement portfolio and could really use some guidance
I generally avoid giving specific recommendations since everyone's situation is different, but I've worked with Emily Ava Milligan for 7 years and attest to her great service. see if she meets your criteria
I looked up her name online and found her page. I emailed and made enquiries. Thanks for the help
Scam
Be Happy Now. Don't wait! Find a way to serve others. Im 70 and have been fully retired for 5 years. One thing i would add to the list is to unburden yourself from the past and let go of some toxic relationships. It can be done with grace and dignity, just ease out of those relationships...no bitterness or drama required. That's my 2cents
In regards to letting go of toxic relationships, that’s exactly what I did after I retired.
I had a long time “best friend” - we first met in high school and stayed very close for many years. We were each groomsmen is each other’s wedding and did many activities together.
Yet there was always a toxic side to our relationship that seemed to increase over time. He also started to engage in behaviors that I found increasingly hurtful.
I did indeed ease out of this relationship when it started to become obvious that it was time for a change and this friendship was no longer a source of happiness for me. There was a final straw event that caused me to have a epiphany and I started the process of disengaging from our relationship.
We have not had any kind of communication for over a year and I want it to stay that way. Not all relationships, even a long term one, are going to last until one of you dies. I once thought that my best friend and I would always have the same relationship but his repeated hurtful behavior made it so that wasn’t going to happen, sorry to say.
I So Agree!! Thank you for that gem of advice!!
😊
EXCELLENT IDEA! And I might even extend this elimination process with family too, if needed.
What do you mean by let go of some toxic relationships? Do you mean physically distancing yourself, or emotionally ignoring them, but still having relationship with them?
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
I'm interested in investing, but I'm not sure where to start. Do you have any advice or contacts who can help me out?
Investing can be complex, so it's smart to get professional guidance when building your financial portfolio.
It's a great idea to have a conversation with financial advisors like Amanda Martin to reshape your portfolio.
I spread out my $25k portfolio across various markets to diversify my investments.
That's awesome! I ended up making a net profit of about $115k by investing in high dividend yield stocks, ETFs, and equity.
In my 50s, I'm focused on investments for retirement. I've heard of people generating substantial passive income, like someone who earned $200K under a year.
As a regular investor, it is difficult to outperform the market. Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio kept increasing by 10% monthly.
pls how can I reach this expert, I need someone to help me manage my portfolio
Her name is *Jennifer Leigh Hickman* . I can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for the lead. I searched her site up and filled the form. I hope she gets back to me soon.
Your health is everything, without it nothing else matters
Dont wait till you're retired to think only then you'll be happy. Enjoy and appreciate every day you are alive
Thank you!
The older you think and act, the older you WILL BE.KEEP THAT IN MIND.I am now 75 , still on my small farm, still raising much of my own food and carrying 50# bags of feed. My house is on three levels...and no challenges there. No scrips, no doctors, many times I catch myself doing exactly the same arduous task I did 30 years ago. I wonder why it is taking so much longer, then I realize most folks my age wouldn't even attempt it. DON'T THINK OLD OR YOU CERTAINLY WILL BE OLD.
@Michelestellar7725 ...after you tote all those 50lb bags of feed to the barn, could you come over and help me move some heavy furniture? And then there's the safe I need to get upstairs somehow... ;-)
TIA,
-- BR
@@billredding2000 well, be advised take that safe upstairs one stair at a time. The furniture just need to be pushed, a big strong man should have no problem. I still move my furniture and even my refrigerator and stove so simple really. When I was younger like early early 50's I had a house built, the shell, but no $$$ to complete the inside. A bit at a time I finished it... insulation, drywall , interior partition walls from the studs to dry wall and paint. Flooring too. I still live in the house, but as years went by I could afford the luxury of not having to do my new roof and siding. I just wanted to insure no maintenance in the future. Built a 24X24 barn too.
@@michelestellar7725 I was just kidding with you...
Although in my mid-70s, I STILL do everything by myself -- even moved a 900lb safe by myself (the 2 Gold Gym muscle-guys hired never showed). And I do all my moving/packing/U-Haul trucks/trailers by myself, too (no professional moving company) as I move about every 4 years ro so (so far, but plan to buy a house in 2 years).
But then I HAVE to do everything all by myself as I'm single...a good reason yes? I mean if *I* don't do it, it doesn't get done. It's ALL on me.
THIS particular safe though is a lightweight at only 370lbs -- no issue. ;-)
BTW, like you I've done other things in life too (besides being in the military (twice) and halfway up the Ivory Tower in Academia), meaning I've done home construction/repair, car repair, PC repair, appliance repair, hunting & growing food, and other such "everyday life" things (well, if you lived in FRONTIER times it was "everyday life" for sure).
Whatever, HARDLY EVER did/do I need to go see or call-in a "professional."
And I've washed my clothes by hand for over 30 years...unless an apt I had came with a washer -- but my current apt doesn't so I'm back to hand-washing again. No big deal...my next apt will have a washer (when I move back to CO in said 2 years) as those "upscale/luxury" apt complexes usually ALL do.
However, I don't use any more brawn than I have to...not because I'm lazy, but observing that old saying, "Work smarter, not harder," so I use physics to deal with heavy things. That's partly due to some physical mobility issues, too, but still it's ALSO just being smarter.
Despite all that said, it DOES get a "tad" harder as I get older: Say whatever you want you can't beat Father Time. No one can. And I haven't mentioned it also gets me MENTALLY tiring over time: ALWAYS having something that needs to be done. Especially when you've DONE everything for most of you life (no "division of labor" here, thank you).
So...exactly WHEN did you say you'd be available to come over and move that safe upstairs? ;-)
...again kidding, so it's a rhetorical question only.
-- BR
Well done. My handyman worked till 78. He's home fulltime now and miserable. He's still capable but burned out I guess. Now, he's on the doctor circuit which I see over and over with some elderly people. They get passed to one specialists after another while the doctors feed on Medicare and private insurance.
@@scottw5315 if you are still young Scott, take need to what the old folks who are still ACTIVE and forget they are supposed to be feeble say. Think you are old and you will be, and you will be on the Dr. 'treadmill ' of more and more medications to fight the side effects of the ones prescribed for some condition you didn't know you have until the Dr ferreted it out. Drs do NOT MAKE MONEY ON CURED PATIENTS, THINK ABOUT THAT TOO.
Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Stocks like Nvidia stocks and ofcourse AI stocks that will align with my risk tolerance and financial goals but it seem to be bearish right now.
While the market is promising, expert guidance is essential for effective portfolio management.
My variety of mutual/index funds beat S&P index funds last year.
It's smart to consider diversifying your portfolio, especially in uncertain times. How do you typically assess and adjust your investment strategy to align with market conditions and your long-term financial goals?
Suggest relooking at that S&P investment..maybe diversify more.
Life is short, so make the most of it! Embrace every experience, whether sweet or bitter, and don't waste time complaining. Remember, hard work is the key to success, and it's more powerful than luck. If you agree, show your support.
Realistically, many young people don't have that level of disposable income at age 25 due to student loan commitments or internships, which means a higher annual commitment will be required at a later.
We're all feeling the impact of these high prices, but at least we can afford them. I feel really bad for those who can't meet their basic needs.
Now imagine how difficult it is to meet those simple needs if income is limited to a monthly Social Security check. Unfortunately, millions of people now face that life-sobering challenge because they could not set and address their investment goals earlier in life.
I truly sympathize with people with disabilities who aren't receiving help from anybody. Thank you, Anna chitidze seeing my $5,000 investments growing.
WOW! You just mentioned Anna chitidze Indeed, that woman has been an incredible mentor to me, imparting a deep understanding of the economy that I wish college had provided.
I retired at 49, and now I’m 55. I ate soup and oatmeal while coworkers went out. I didn’t buy the hobby “toys”, but worked as much as I could. You have to act differently if you want different results.
Same...I rode a bike to work everyday and saved and invested since I was 25. As soon as my minimum retirement age came, I was out of there.
Are you married?
Well done! I bought my first house at 25. That started my life as an investor. I was searching for real estate on weekends when friends were watching football games. Been mostly retired since age 54. I still manage the company but that's just a few phone calls a day.
Very inspiring, I'm following the same steps.
You forgot to have a Life, in that process. "life is not how many breaths you take, but how many times Life takes your breath away"
I am in my sixties, and it forever amazes me when so many of my retiring friends, have absolutely no idea what to do with themselves, once they stop doing paid work and have all that free time. It as though for their whole lives, they had no ambitions or interest except for going to work. I have never had enough time for all the things I want to do, time is so precious.
I agree. I was a workaholic but retired at 55 and I have so many hobbies and couldn't wit to dive in. I don't miss work at all and still don't have enough time to do what I enjoy.
@@MariaAguilar-vs9fb ...you're a rarity
Most people spend their entire lives forgetting how to live, only knowing how to work. Then old habits die hard!
You are so right.I remember about 10 years before I retired a retired co worker came back to visit.We chatted for a bit and she laughed and said, "I never would have thought I would be so busy once I retired".I retired 2 years ago for health reasons at 62 and I keep thinking back on her words because I feel exactly the same way- I'm constantly active, never bored and more fit than I had ever been before.A good strategy before you retire would be to take stock of your interests , dare to dream a bit about what you'd ideally like to do , formulate a plan and finally , once you retire , start acting on it.
That's such a valuable perspective! Staying engaged and pursuing passions in retirement can truly enrich your life. What activities or interests have you found most fulfilling in your own retirement journey?
I walk 5 miles a day and retired at 50. Keep walking and lift light weights.
No, lift heavy weights!
Same here retired at 43 I walk daily and keep fit
1. Know Your retirement life ( spend - hobbies and travel living expenses)
2. Mentally, physically and Financially
3. Purposeful act ( personal game meaningfully)
4. Don’t waste your time on comparisons
5. Finding a right house at right locations ( current & future)
6. Weather ( as we age tolerate) right place
7. Consider health care ( maintenance of your health- near by Dr)
8. Friends & Family ( friendlier place , plan to do things
9. Mobility may be difficult so giving care to health
I am 71, my husband passed away 4 years ago. I am not alone. I have three sons and have good care from them everyday. I live with them. They make sure I see all my doctors. We live in sunny california.I am in good hands. I keep busy doing crafts,walking, reading and writing freelance.I am enjoying my last years just fine.
Great you are Blessed.
As recession fears mount on Wall Street and inflation remains well above the Fed's 2% target, some of the top commentators in markets, business, and economists have been sounding off on just how bad they think the next downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
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 licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
Elizabeth Colleen Nurre is among the most accomplished portfolio managers in the industry, widely acknowledged for his outstanding work. I highly recommend taking a closer look at his impressive portfolio.
I've been retired for about 5 years now. It is very important to keep a sense of purpose in your life. The world around you tends to ignore and forget older folks. You can become "invisible" if you don't make and keep friends. If you are a Christian and a church member try to serve in a ministry of some kind. Serve those around you.
Great advice.
For men today we are used to it. Most men are invisible to women. Men are more likely to isolate today and use tech to supplement. If there was ever a best time to be invisible it’s today because most people stick to themselves.
Maintaining a sense of purpose is key in retirement! How have you found fulfillment through serving others or engaging in meaningful activities since retiring?
Great advice! I do have a suggestion, though. Many who assume they will not be able to climb stairs in their 70s or 80s conceive a self-fulfilling prophecy - the less you climb, the quicker you reach a point at which you cannot climb. My Dad climbed steep stairs from his garage until he was 88 years old. Many centenarians in the blue zones climb hills and garden.
Keep using your muscles; you will be more likely to live longer.
My Dad was dead at 68. His Dad ( my grand father) was dead at 61. His brother ( my uncle ) was dead at 77.... so .... just sayin
@@bobpoland6042 The important thing is to know why they died at that particular age. Rarely is the death at a certain age, inevitable.
Exercise is important but you need not have stairs in your home. It's too expensive and too late to modify your home to accommodate you if you have an accident.
@@BATempleman Having stairs can extend your life in a good way. Of course, if you're already 95 years old, then why bother?
Good point; if you don’t use it, you will lose it.
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with, I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like ‘Iynne Marie Stella‘ who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Sound advice, thanks.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Hi i will like to have info on how you actually did it and how to go about it because my retirement is close and i have no investment after retirement . I think i still have time to do something useful .. please can someone advice me on what to do ?
You said a mouthful, and I couldn't agree more. I was fortunate enough to start working when my employer still offered a pension. That went away in 2012 during labor negotiations when my employer switched to a matching 401K plan. I still get my pension since I was grandfathered into the old plan, but have also taken advantage of the matching 401K plan. That actually builds up quicker than the pension plan if people take full advantage of it, but they don't. It's like leaving money on the table. I see these young guys hiring on in their twenties and the first thing they do is buy a new 4WD truck, a 5th wheel to tow behind it, and a couple of new ATVs to take into the desert and play around; all of this purchased on loans that will take years to pay off. Before they get any of it paid off, most will go our and upgrade to newer models of their toys and start the payments over again. Before any of them realize it, they are in their 40s and have nothing saved in a 401K that our employer is willing to match. That is a lot of free money being left on the table.
Back in 2019, there was another round of contract negotiations. I told the guys to demand that the company bring back a pension plan or some other form of retirement beyond the 401K since none of them can seem to save any money. The only thing any of them asked for was a better salary to buy more toys.
I am not saying that people should not enjoy the fruits of their hard work. There are ways of enjoying life without staying in permanent debt.
Very true! Financial stability and purpose are crucial for a fulfilling retirement. What strategies have you found most effective in navigating financial challenges and planning for retirement in today's economic landscape?
@@StressLessFinancial I kind of mentioned it in an earlier comment. It is quite simple- live within your means. I can't thank my wife enough for managing our finances throughout our marriage and being happy with what we can afford. In our 41 years of marriage (we got married at 18) we have never owned a new car. She has always been happy with a well-running used car with low mileage. We have never owned a boat, RV, ATV, or all the other expensive toys that sink my coworkers into a lifetime of debt. Nothing is ever financed including the cars we've bought over the years. Although we could afford a reasonable car payment, my wife prefers to save the money until we can afford one which also makes it easier to negotiate the price.
Maybe I just got lucky and married the right woman because she has always been happy with a frugal lifestyle. Throughout our marriage, I have always wanted to buy some nice things because I felt that I worked hard enough and deserve something to reflect that. She has always shot back with "it's not in our budget" Now that I have seen what she has saved for our retirement, I can't thank her enough for restraining me from splurging.
Retired at 56 seven years ago. It is great as you can imagine. Don’t worry about having a purpose in life. When asked what do you do with your time say “anything I want”. Nothing more to explain.
That's lousy advice. DO worry about having a purpose in life.
Sounds good to me. Soon to be 59, targeting 62 as when I will retire. My "purpose" in life is to be happy and enjoy myself, my family, and my friends. Sounds like that's exactly what the original poster was saying...at least that's how I interpreted it. I don't need to have some big, grand Instagramable purpose...and I'm certainly not going to spend MY retirement WORRYING about my purpose in life! I'm going to do the things that make me happy with the people I enjoy being around.
@@liquidmagma I totally disagree. Just need to be the best person you can be and people are drawn to you (I know).
I totally agree. I just retired at 58, and people ask me what I’m going to do. My standard answer is I’m very good at doing nothing 😂
@@teams3345 Being the "best person" and having people drawn to you isn't a purpose. Purposelessness is a waste of life.
I retired ten years ago next month on December 29th at 50 and have ZERO regrets. It's been a great ten years!
What did you do?
My entire career after the USMC was in transportation. I started my own company in 92 and sold it in 2000 and probably could have done it then but stayed in it for a few more years while investing in real estate, a hobby business I still do (selling firearms & knives as a Class 3 SOT), etc.@@jagervolant7871
Where to retire ?
I did the same and at 68, some 18 years later also zero regrets. Ensure you give your time a value it's a luxury others still working don't have.
At 62, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.
Herman Jonas, an astute financial analyst is the brain behind my success. I've gotten into a plethora of assets with $43k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now I sit back, and just reinvest at intervals while I enjoy my retirement.
Do not forget that when it comes to the stock market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence.
Hermanw jonas (a Gma!L comm
Is he taking commissions for his services? Yes, I’m I still making money in the process? Hell yes!
I retired at 50, happiest day of my banking career. You now have that one important commodity that those who go to work don't, it's time.
Ensure you give it a value and use it productively to enjoy life, improve your income even when you are sleeping and increase the savings you can make.
Good advice and presentation. Have subscribed thanks for offering this information it’s very helpful
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
Everyone’s been preaching investing lately as a source of passive income but with a 70 hour weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see every RUclips video saying BUY BUY! But when and how do I sell for profit at the right time?
is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?
Fantastic! That sounds wonderful. How can I get in touch with your financial supervisor?
VIVIAN JEAN WILHELM maintains an online presence that can be easily found through a simple search of her name on the internet.
Finding financial advisors like vivian jean wilhelm who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I just retired at the end of last month. Before I retired, I made a bucket list and there are 53 items on it. I am single woman at 56 years old, live in Tokyo.
As the value of Japanese yen is deprecated against other currencies these days, although I want to travel to foreign countries, it costs a lot. Therefore I am going to travel all over Japan for the time being.
I enjoy your video to learn many tips for my new life and it is good to maintain my English skills as well.
Looking for retirement options also, new life
Only just retired myself - unexpectedly. I live in Australia and already feel I want to travel here rather than overseas. Everywhere else is expensive, and I have seen so little of the country I love. I'm so interested in your bucket list, as there were only 2 things on mine, and I crossed one off just before I retired. I really don't know what I want to do!
@@thatswhatisaid8908Thanks for your comment.
The items on my list are such as:
1. Relearning math,
2. Relearning biology,
3. Relearning chemistry,
4. Relearning physics,
5. Visit to Église Saint-Pierre de Firminy in France,
6. Play “Pavane pour une infante défunte” with piano,
7. Start oil painting,
8. Relearning basic structure of computer software,
9. Play video game of Dragon Quest series (Square Enix),
10. Travel to Hakodate and Asahikawa in Hokkaido,
11. Stay in Bali island more than 1 month,
12. World cruising,
13. Travel to Okinawa (already done!),
14. Watch World Cup football game in North America to support our national team,
15. Change hair color in pink, orange or blue radically,
and so on. Now I have 58 items and I already finished travel to Okinawa.
You should start to make a list.
- Category (Life, Sport, Learning, Job, License/Qualifications, Travel, Social Activities, Participation to communities)
- Item
- Deadline
- Budget
- Status(Not Started, Work in Progress, Completed, Delayed, Suspended, Canceled)
You should work on it immediately. Life is short!!😉
Kunichiwa! Me too, I wanted to travel but too expensive, so need to travel locally and do video travel. Best Wishes!
@@ocean4659 Thanks! 😊
I bicycled 14 miles round-trip to work for decades. I was as fit as anyone could be, but pancreatic cancer found me a couple years after retirement.
No one can predict what retirement and age has in store for you. Hold on to your relationships and expect limitations to come your way eventually.
I also love to bike and use to bike to work. My mother died of pancreatic cancer at a young age of 62. Sorry to hear about your cancer.
@@vincentnnyc sorry to hear about your health issues. One never knows exactly what to say at this point, but enjoy every day to the fullest.
@@catcaa9027 I don’t currently have any health issue. It was my mom that had pancreatic cancer. I’m also a cancer survivor of non Hodgkin lymphoma back in 2000. I’m a cancer survivor of 23 years now.
Wishing you well and I'll be praying for you.
google the link between bike seat pressure on perineum and Prostate cancer and ed. I learned the hard (soft) way 🥲
Im 58 and 2 years from federal retirement. I have several friends who retired and have doed or are in nursing homes because they went from working 10-12 hour days to sitting in front of a TV. My dad retired 25 years ago from federal service after his army career (I was Navy) and he's going strong at 82, working out and shooting every other day, as well as volunteering. Youre right - no one knows how many years we have. Blessings to you!
Thanks for all of your services! Good advice
That’s just how most will end up
Your 4 years from retirement
tell lie vision has always been weaponized. It's how they get everyone to agree to do stuff like wear a face diaper and get injections.
Know how long you are going to live
I’m 62 and retired two years ago at 60. The one thing you left off that list is to cancel your Amazon account. It’s so easy to order stuff online if you’re not careful you’ll have several thousand dollars a month in bills from Amazon. I can afford it & we live comfortably. I have a fantastic pension, but you’ll spend a lot with online shopping if you’re not careful.😊
Best advice in this comment section.
Isn’t that the truth!
Thank you for that I will be retiring at 60 next year (God willing) and I spend alot on Amazon. I have gotten better by leaving stuff in my cart until I get paid and now put it on my debit. I find I do end up deleting most of the stuff but I do need to stop shopping on it
Truth!!!!! Just log out, the trouble of getting the password changed will make you rethink the purchase.
eBay for me and I could never do an auction cuz I would win that pencil auction, and pay waaaaay too much for the privilege. I actually deleted my eBay app as I realized what a really great consumer I am. Well, I've pretty much owned anything my heart desired sans yachts, 2nd homes and now that I have fixed income I cannot have the luxury of convenient shopping. Nice to see others here with the same draw.
Make sure that your health is your top priority to enjoy a meaningful retirement. There’s no “do over” when it comes to your health
Thank you for your video. Its always food for thought. I'm 60, now thinking about retirement at 62. The best advice is to try and stay healthy. I would rather be broke with good health, than rich and broke down.
Make sure you know what your health insurance will cost.
I retired at 59 & 1/2. That was six weeks ago. So far, i am enjoying not having to rush my morning coffee and getting all the things around my house fixed, cleaned and re-organized.
I'm looking forward to just that!!
Congratulations! I'm retiring at 59.5, too, at the end of Dec! I told people, "I am NOT going to be sitting at a desk all day at 60...nope."
Remember time is a luxury you have that others still working don't. Give it a value and increase your income even while sleeping.
Multiple income sources are the key to a financially secure retirement, nothing clever just simple things you understand.
I have a coworker who is obsessed with talking about the retirement age when you’re eligible to receive social security. He doesn’t understand I can retire early since I have a IRA. I’m really tired of him mentioning the retirement age too much.
I am currently in my 40s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Research dividend aristocrats and choose six to ten companies with over 25 years of dividend payments. Consider working with an asset-manager to build a strong portfolio.
A good percentage of people do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… now my dreams are getting bigger. Going from ($50k to $600k) is surreal all thanks to insights from a professional.
She goes by ‘’.Sonya Lee Mitchell’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
@@PennyBergeron-os4ch BS Scammer!
@@FinnBraylon CFA advert?
My husband and I retired 8 years ago. The best advice I can give people when they ask is…downsize. We went from a 4 bed, 2 bath home to a 2 bdrm apt with a balcony. So there’s not much need for spending money on unnecessary stuff because you will run out of places to put it. We do not have to worry about spending time or money on outdoor maintenance. You’d be surprised at how much that alone can free up your time. We made sure to make health and exercise a big part of our lives. I think the first few years are important to get out there and travel, enjoy day trips, walk or bike trails, etc. Make the best of those initial retirement years while you still can enjoy them.
I think the key is you both retire at the same time. One sitting around cannot remain active if other one has to be at work everyday.
I’ve lost so much in the past 8 months from failed economy and banks,Real estate crash,depressions,stocks,dividend,you name it
What a terrible year it is...
@@allympili3437I'm with you buddy! A bit less than two years ago I was sitting oh-so-pretty and within 12 months I had lost two thirds of my portfolio! Since then, I've managed to claw back a bit but I'm still down 50%. It's been incredibly stressful and I'm still sitting on tender hooks. In hindsight, I should've cashed out and exited the high risk game. Just not worth chasing more and more when one's retired!
and when you finally die, you won't notice any difference....OPPS
@@allympili3437May things improve for you, WHEN I am about to cry at my age, I count what do I have now even if i can count my life its ohk❤
When I started working I wanted to retire at 60 years of age. I am now 66 financially able to retire. But I enjoy my work and I get 18 days a month off with 6 weeks holidays. I cannot see myself retiring. I like working with younger people and the relationships I have . I just feel like I have purpose in life..
Absolutely right. Purpose is crucial to your well-being and it keeps you going, living fully engaged. You're in control.
I want your job😊
It’s about freedom, I am able to travel anytime of the year, I go to the gym , I keep a better Physic than in my 40s
Be grateful, eat healthy.
Enjoy life.
after I retired I worked with some young people and it was great, and They thought I was cool! LOL
"18 days a month with 6 weeks holidays,". Sounds like retirement to me. 😂😂
I want people to know that retirement can take some getting used to. It won't happen to everyone, but for me, after a month or 2, I had a little too much time on my hands. If that happens, just keep looking for projects and places to meet people - don't get discouraged.
Retired at 56, 3 years ago. Absolutely love being retired. So many hobbies, projects and travels my wife and I just love it. So what we want when we want. Never a schedule! We prepared well.
You’re still a kid,you may live another 30 years,you better be frugal or have alternative income sources
@@lv4077 we prepared very well. No need for frugality at all thankfully. 👍🏻
Thank you for touching on more than just the financial aspect after retirement. My husband and I retired about eight years ago and have kept busy with hobbies, and friends. He passed away three months ago after a long cancer battle. Taking care of ourselves the best we can is the most important thing we can do in retirement.
I agree and do! Work out 6 days a week at age 67. Living in the Philippines!🌴🌴🌴🌴
I am in my mid 40s, haven't begun my retirement plan and want my financial portfolio to be set to where I no longer have to worry about having enough financially. I am looking for your help please.
I totally agree with you. Get yourself a good financial manager and that is it, you are good to go.
If you are looking to begin your retirement, we have the best recommendation for you. Same one we used in setting up our retirement account.
Her name is *Leticia Zavala Perkins* .
It is quite easy, simply look up her complete name on the web and you will find her web page. Contact her directly from there.
Health is wealth, especially as we age.
Retired now going on 2 years after working for 37 years, I will be 60 this year. You have to continue to move around, exercise, do things that make you happy. I’ve always had a young spirit. Don’t forget to laugh it keeps you young. The exercise, someone very wise told me, if you don’t use it, you lose it. I Love being retired, it is an adjustment but can be for the better. It’s what you make of it.
Best part of it is you are your own boss and don’t have to punch in anyone’s time clock.
My gosh, I’ve been retirees for 3 years and I never have a need for purpose. My purpose to do whatever I want to do which is pretty simple really. I retired in the pandemic and what my plans were vanished before my eyes with the escalating cost of housing in most places in Canada. So all the planning couldn’t prepare me for that. You retire when you are done working and make it work. I am.
Yes! When people ask me what I'm going to do any given moment, l always reply with, "whatever I want." 😊❤️
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family…
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks..
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@mnthunder Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial consultant . For the record, working with one has been the best for my finances...
@@AllisonSherman657 How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@@mnthunder *Mr Gary Mason Brooks* is the licensed consultant I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
When I retired the first 26 years was as my accepting wife's carer with her MS. It was definitely a full time job, 24/7. In the end it had a big impact on my own health - a heart attack and pneumonia. She has now passed. But I've fully recovered and now free to enjoy my retirement. I exercise by walking fast a LOT and keep fairly well. I'm grateful for that. Although I get a bit lonely, I am OK. I am gay, non-practicing. I always was. I am 76 and as a retired Baptist Pastor and accountant, the church no longer forms any part of my life. Wise. I have just bought a new car and will start to do a small amount of travel. Everyone is different.
@Ronsmith2241 Hello. I am happy for you that you have peace in your life. I have to ask a question though, and I hope this doesn't come off as being rude. I apologize if so. You say you were married for many years, however you are gay...and always was. Can you tell me...why did you get married to your wife it you "were always gay." I apologize if it sounds rude. I am not trying to be. I am just curious and would like to have some insight if you don't mind sharing.
@@girlygirl1890 He is 76 so born in the late 1940s, turned 20 in the late 1960s, was a Baptist preacher and conservative. Sooooo many gay men at that time (and earlier) married women because it was expected of them, especially in conservative families and cultures. Today it is much better but still a long ways for free and welcoming, just look at the relentless hostile conservative attacks on LGBT rights, including the Supreme Court that is now rethinking the right to marry. My question - how did you not know this?
@ronsmith2241 Hats off to you, Mr. Smith. May these be the best years of your life.
I’ll be 71 in December and still working part time…. Can’t even think of not working because I don’t really travel or go on vacation…. It fills my day I guess and still kind of exercise by walking a lot at work… if I retire completely, I’ll be sitting on the couch and watching tv all day , not good
Good advice. It seems like stuff we all should know but many don't. I retired in September 2023. Here are some of my experience so far and thoughts for the future. First, I LOVE not having to go to work. Frankly, with so many bad bosses and weird clients, work had become a life draining ritual. After I retired my wife and I moved to our favorite place that we had visited many times and where she had relatives...Knoxville, Tennessee. My plan for retirement is, lots of walking and hiking in the mountains; playing my guitar a little everyday. spending time with our dog; cooking (I love to do it and now I have the time to shop for fresh ingredients); some woodworking; some volunteer work; and lastly, some days just sitting around under our gazebo, reading a book and sipping on a margarita! As I get older and slow down more and more, I'll moderate my activities but do what I can to stay mentally and physically active. By the way, after 48 years in the lame career, I applied at the local community college to teach as a part-time adjunct professor. I have not heard back from the college after 4 months. Perhaps they don't value experience. I know most people don't.
My main takeaway from this is to make a plan, decide what you want to do.
Things might not go exactly to plan but you'll likely do better with a plan than without.
Good advice. 😊
80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.
Who is this person guiding you and how can i reach he/she?
I'm pleased with the advisor's prompt and knowledgeable assistance. Their professionalism instills confidence. Looking forward to further discussions.
I got my 'freedom 55' last year, and it was great at first. Now I'm bored out of my mind and have lost a sense of purpose. I need to work again, so I've decided to seek out those who need a hand-up and partner with them for mutual success. What's weird is I desired all sorts of stuff when I was broke but now that I'm flush with cash I don't desire much and am more frugal than I was when poor. I can go buy a nice new sportscar but prefer to drive my 2008 Honda Fit. LOL.
I have a 2010 Honda Fit and I love it! I retired at 55 also but now work in a school with small children
My initial retirement was all about taking care of my stroke damaged wife. I also did a lot of building, decks, a gazebo, firearm restorations, rebuilding and elevating the house from hurricane damage. But after 6 years I lost my wonderful wife of 42 years. Its been very hard but I am involved with my son, his family and grandson. 2 years ago I went back to work 24-28 hrs a week stocking produce. Love it. I pull in 70,000 a year total, have no nest-egg to speak of and am comfortable, own my home. Did the prostate cancer radiation thing last year, don’t chase gals, smoke or drink. I do play my piano and try to shoot a couple cas/2gun matches a month. You gotta move. That recliner will kill you.
Love your advice!
Sorry for your loss but great attitude 🎉😢
I'm semi-retired. Soon to be 73. Work 2 days/week plus keep busy with my home and my dog that has allergy issues. Things that will eat up your savings include home maintenance/repairs, car maintenance, increasing property taxes, car insurance premiums, Vet bills, doctor/prescription expense plus the state of our economy is making it hard with higher food, gas, etc prices. Makes it difficult to enjoy what should be a relaxing time before I check out. (AZ)
My partner and I are retired, and we thought we had moved to our "final home." As it turned out, our needs changed as time went on. We found that daily tasks, like cooking, cleaning, and maintenance, were becoming harder to do and more of a burden. We decided to sell our home and rent in a senior independent living community where meals, weekly cleaning, and all utilities are included. We have no yard work, maintenance, or repairs to worry about. No property tax, no home insurance. This is more expensive than living in our old home was, but we had planned well, are debt free, and are able to afford it. We sold the old home, and the proceeds are helping fund our current situation as well. As you age, this could be a good option. Be sure to check carefully. I recommend communities that do not charge you an "entry fee" up front.
Thanks for the insight, so it's either cheaper living but break you back/knee faster or save up more since asap/childhood and be on the lucky roll to join the uber hack community of the senior independence club...like the super app club for last mile living if I may put it that way, hopefully when you go in even the last ceremony is covered that would be a great AIO planning package. AI : find me the best optimized budget friendly senior independent living 'clubs' around the world/Gmaps show me my nearest club that suits all my personality traits...thanks youtube and folks that have life tested this stuff...seems like a build to be tested friendly plan...that's all folks
"Partner" or "boyfriend/girlfriend?" Are you in business together?
and if you live too long....your F-cked...
17 years ago, I helped my parents do the same. Eventually my mother needed private nursing so we hired a PCA to come in and help her. She passed 3 years later but my father lived in the independent retirement community for 17 years and passed away at the age of 96. I don’t think he would’ve lived as long if burdened with the troubles of maintenance of a house, mowing the yard, etc.
Enjoy the amenities!
You sold me, laurie....@@lauriesell7934
I’m 67 and still working but I’m enjoying working. But I’m retiring next year and I’m busy as a bee. Even when I retired I’m sure I’ll keep myself busy in everything that I enjoy doing like playing tenpin bowling 2x a week, going to church, travelling here around Australia and outside Australia. Life is good and life is what you make it. Regards and God bless 😊🙏🏼💖
‘Life is what you make it,’ so true. We all look for the structure and predictability that a career provides in retirement but that’s not how it works. Create each day what you want your day to be. It takes energy and is different than a routine all set up by a career, but that’s retirement.
At 70, I wish I had stayed as active, or close to it, when I retired 2 years ago. I feel as if I've aged physically, 10 years. Thank you for these important tips.
@jorgegiacchetti-jc4tk I am not interested in you at all.
It does seem that we age more rapidly after 55-60. Thankfully, after exercising consistently since high school, I feel more like 45 than 65.......then I look at myself in the mirror. Rule of thumb: Stay away from mirrors!😏
At 68 I now need a hip replacement, but that doesn't stop me from being in the gym 5 days a week, something I have done for over 50 years.
Find something physical you enjoy and do it, you should also meet some nice people which is a real bonus.
@@jjefferyworboys8138 5 days a week? You may be overdoing it unless a couple of those days are strictly aerobic activities. Your muscles need in between days to rest. We do walking or stationary biking every day, but weight-bearing exercises are three days per week, only.
I am 73 I am still working and enjoy my job. Running an apartment in Chieng Mai. Thailand. I change only small rent fee and they are all happy with me. Only 100Dr. A month. I helped them they help us. We both win win. We both happy.
I wish I can retire over there.
@@ths.6935 Come for a short visit. And see your self if it's what you been searching.
I'm 56 and I'm retiring in 45 days. Thank you for this information. My husband and I have been preparing for retirement for 10 years. Our main goal is to work on being healthy. We have a few travel plans we want to do.
Staying healthy is a great investment in your future. Enjoy your retirement to the full.
❤. Enjoy every moment.🎉
interesting video. I am a physical therapist and work in home health. and I see all the time the mistakes that some retirees make: Get a living will and somebody to be your power of attorney!! please!! have somebody to make decisions if you get incapacitated!! you never know when are you going to have a stroke or fractured hip, the worst moments to think in something like this is when you are in the hospital.... I know..I know .. nobody want to think in this....we call it, to be in denial.... Please do not get attached to material things, how many times I have seen patients to break a hip or finish with other disabling injury for a fall stepping in the mothers' or grand mother's rug, they never wanted to remove it because it was part of the family, believe me a good picture is a much better way to remember loved ones. PLEASE!! do not buy houses with stairs, or apartments in a second floor with no elevator, you will regret it forever after you can't walk independently. And please never..never.....ever say I won't go to a retirement home when I can not be independent......because there is a big chance that you will spend the last years of your life in one of them. have a plan B...... enjoy retirement and keep moving....
Lots of good advice in there, some I haven't done yet like the power of attorney.
Our home enters on the 2nd floor with only 2 steps at the front door. When I can't walk anymore, I won't need to go downstairs once I move the laundry machines into the garage. And yes, I want to stay here forever, but you just never know and I can't burden my family (just hope they visit).
Boo to a power of attorney...do you really trust
I am in my early 40s and i see my retired Mom lost all her motivation within 3 years of retirement, avoiding even to go out for groceries for weeks. When i click on your video, i assumed it will be on finance like most other but then as i was listening, it resonated with me, I appreciate your video on this topic and will check out more of your content, thanks 🙏
Tell your mom you will becoming for Sunday dinner from now on, and show up hungry. Might be the motivation she needs.
@@TheVikramJoshi I don't see anything but the comment I just posted under your comment. Maybe FB took them down
@@michelestellar7725 thanks that's perfect suggestion. :)
And yes, looks like bot comments are gone now.
Your mom may be in the beginning stages of dementia. My mom started withdrawing from friends, then family, then everything. Start watching her closely and read up on signs to watch for.
Do you know why she's withdrawn like that? Is she bored and don't know what to do with herself? Or depressed? :(
I retired in 2012. In 2012 my monthly expenses (rent, food, utilities, insurance) was $1600 a month and now that exact same lifestyle, no debt, same apartment, same paid off truck, same monthly bills (rent, food, utilities, insurance) cost $3000 a month. $1600 a month rising 6% a year for 11 years = $3027, so average real inflation for last 11 years was 6%. Everybody planning for retirement needs to plan on 6% annual expense increases just to stay even. 6% compounded annually means that expenses double every 12 years (72 / 6 = 12). Retired persons need to grow their income during retirement.
No matter how well we plan or prepare, life will always end the same. What we do with life while we can, always should be the focus. Live every day however makes you happy, retired or not.
All great advice and things to think about. I'm in Minnesota, so yes lots of shoveling, raking, mowing, and house maintenance due to constant fluctuations in temperature. That said I own a paid off beautiful mid-century rambler that I purchased for my wife with m.s. I lost her 2 years ago. Instead of selling and loving to a smaller low maintenance home and area. I just bought a new snlowblower and mower to keep moving and tackle all that this climate can throw at me. Unlike my older neighbors whom I've witnessed rapidly decline as they have everything done for them, I'm going to use my body, retire early, garden, hike, and hopefully find a little time for some social life 😄
I’m in Minnesota too, and I love it. I love Minnesota except for the snow I love the seasons I think I will always be generally based here.
Very very helpful!! I retired at 56 - Mandatory retirement. I only wish that I had watched something like this then , or prior to having to retire with a good pension!
Regardless… this video is extremely accurate and one thing for sure: THE BEST PEOPLE TO GIVE ADVICE ABOUT RETIREMENT IS INDIVIDUALS THAT ARE OR HAVE BEEN RETIRED ALREADY!!
Thank you so very much for the video!!!
What was the scenario that made you mandatory rerirement?
@Michael-ur3on in the US you can start as early as 62 and as late as 70. The age range will always go up as its not a sustainable program, hence the reason it's expected to drop payments by 30% in 2033. This program isn't meant to replace our entire working income, only provide a little extra to your retirement plan that we should have been contributing to for the past 30+ years.
Great Video, So much truth! I retired 3 years ago at 56 , with 35 years of Govt. service. I can see my health going down already with just 3 years of being inactive. I'm going to make it a priority to get back in shape!! Thanks
I did loads of travelling in my 40s and 50s when I had the money to do it. I still could but simply don't need to. Helping others is very rewarding, I help people in their 80s - they do pay me but only a modest sum. It is very tiring and they really appreciate my efforts but the satisfaction is priceless. I sleep like a log after. I go for long solo walks, good exercise and good for the body and brain.
If you liked what you did in life, then #8 is so important. Nothing was more difficult to adjusting from an all consuming job that meant much to me - to retirement. It is not everyone's problem, but it was the hardest aspect of retirement for me. Volunteer work has been the cure for that.
I’m struggling with that now. I think volunteering could help me with that. I have found this transition to be the hardest I’ve ever faced. And whatever # move it or loose it. So true, Ive got to quit YouTubing & get moving haha
I am having some trouble adjusting to retired life also. Lacking motivation somewhat. I am very surprised this happened to me. I am concluding that I needed the external motivation that my career provided. I’m sure I will adjust but, man, what an unhappy surprise after 30 years of work.
@@learningisfun2108 I’ve always been busy & I can’t even motivate to do my house chores. I think I need a job to motivate me! not for the $ for my mental health! This is nuts but I dream about work, I woke up and just cried this morning. I thought work was killing me, now I think my mind is!
Before you retire make sure you have more money coming in then you can spend. This way you can still be saving through retirement and take care of unexpected money issues.
It is probably best not to relocate. Firstly in new locations you will not be aware of local costs, insurance fluctuations, and changes in what you believed were the fixed costs. In your current location you are aware of everything.
And for beewang, never lose your will to live, ever! Not even losing job to COVID. I survived Hurricane Maria on the island of Puerto Rico in 2017 in all that destruction. As long as your heart is beating and you can think you can over come ANY adversity. Of course having spiritual values and strong faith makes a huge difference in one's life. So today, 6 years after I survived the hurricane I am happy to be alive every day. And even if I have a day off from nursing and not doing much that day I am still so very happy and grateful for just being alive! I never stop being grateful to God. This info about the lady named Ann Kristine I will look up because my finances are not good right now. Thank you to all who mentioned her here.
the best service to many is this video. it's best to be near family and visit places than the dream of moving to a tropical nightmare.
I was just saying this to my partner. Lots of American's move to ChIang Mai, Thailand, pretty, hilly country but summer, humidity, poisonous snakes, mosquitoes carrying Dengue and other diseases, all not appealing to me!
Everyone has their own dreams and goals. You might’ve mentioned that this video was designed for people who want to be in Florida or Arizona. Some of us truly prefer to be closest to our family and are OK with as you said, hibernating, in our homes, during periods of cold. That’s time for quilting reading books dancing at home. You don’t need to move to a big metro to be happy. I think this advice is helpful for some, and part of it is helpful for me. Maybe give some advice for a retiree who plans to stay for example, in the Midwest, close to children and grandchildren, and in the case of the sandwich generation parents as well.
Part of my retirement fund is quilting, knitting, and cross-stitch projects. There is so much to being home I enjoy that I look forward to colder weather.
@@gingermccafferty9572 that’s my dream. I’m 63, and want to retire by 65. I’m so over “career.” Your retirement sounds just like my own dream/plan.
I plan to retire at the end of 2023 at 59 after 36 years in Telecom as a sales engineer. My wife will retire in May 2024 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report
This is scary until you figure out how much you really need for retirement. Then achieve it and retire. Otherwise, it can go on forever.
10# know your retirement lifestyle do your homework how much money you need to maintain lifestyle
9# What are your goals when you actually retire ex travel, garden, fishing etc
8# Purposepful activity - have sense of purpose , personal goal plan
7# Dont waste your time comparing with others with neighbours
6# Finding right house in right location and place
5# Think of yourself exactly what you will be doing during retirement ex physical fitness to do things
4# Consider things you can do near by ex. Graden, or farming
3# Stay close to healthcare services available and has access
2# Friends and family nearby
1# Priority changes as you retire ex. body in motion stay in motion, do physical excercise to stay fit and do activities
Priorities:
#1. Pay off your mortgage before retirement
#2. Make sure you can get great medical insurance before retiring
#3. Don’t buy unnecessary sh!t like new homes, new cars, new electronics
#4. Take it slow in terms of travel and regular expenditures (don’t blow through money early on)
I did none of the above. The first and foremost thing that I did, was making sure my son graduated from college (5 1/2 years) first. The rest is a piece of cake. If you restrict yourself, you won't enjoy retirement.
If you can't live on less than what you made working full time, you're not ready. No, I'm not wealthy.
@@2-old-Forthischet my mortgage will be paid off when I am 70. I am NOT waiting till then to retire. My dad died of a heart attack at 69. I’ll be frugal, and work a bit part time.
Best advice ever is : PAY OFF THE MORTGAGE before RETIREMENT . If down the road we need more money , we have a full living suite down stairs to rent or have a helper in our elder years . To us retirement is NOT HAVING TO PUNCH a TIME CLOCK any more . 😁👍🏼
Who can afford to pay off their mortgage today?
@@pegsullivan2299 if you have a thirty year mortgage, it’s not as impossible as you might imagine.
I was canned from a very good paying job at 56, three weeks after my company changed 401k managers and lost me a ton of retirement savings. They blamed COVID for all of it. Now at 60 I have lost a lot of momentum and could not replace that income due to age discrimination but had been saving like crazy the 10 years before the layoff. We will call it quits at 65 but in the mean time I am trying to get big things out of the way and find side hustles to do to cushion the transition. We own our home outright, I am building my song list to play bars as a solo acoustic dude in my golden years and we live where we want to be.
Well,at least you’re trying
401K Plans are a Wall Street Casino Scam.
This is not financial advice, but youtuber Edu Matrix has info about investing in foreign currencies, and people on Twitter are talking about it. RUclipsr Militia man and Crew is as well.
Sounds like you have a really great attitude, I am sorry for the crushing past. Keep up the positivity.
Best of luck with your plans.
I’m 70. Retired at 60! Work on my health consistently always have!, i’m constantly reaching out and learning new things constantly volunteering I don’t sit still. Plan to live to be 110 as healthy as possible!, between swimming outdoor bicycling lifting weights volunteering hiking at Estes Park every year I live in Texas. I can’t wait to see what the rest of my life brings me!!
Less stuff to pay for and maintain. You nailed it! That's my retirement guiding principle.
As a RN I love what you said about move it or lose it. 😊 I see a wide range of patients in my practice. Some 90 year olds are still very active!
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
that's quite impressive, you surely made a good bit of money. I myself invested in warren's BRK-A stock quite pricey but totally worth it.
Impressive can you share more info?
Credits to 'Carol Vivian Constable' she has a web presence, so you can simply
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
I bought my retirement home with property that I would be able to afford on SS when I was 59, I'm now just turning 66 and still working from home with no set date of retirement yet. I have my farm animals and large garden and all the equipment I need to keep it up. It's all about what you want out of life and to make it part of planning.
Awesome!! I tried to set myself up like that too but the farm I was renting for 20 years got unexpectedly sold to someone else. Had to board my horses, give away chickens and cats. Lots of small farm equipment had to be sold cheaply. You are so Blessed. 73 now + can't do the physical work I used to be able to do.
Prepared for retirement 10 years before I retired.Been retired for 11 years happy as I can be.
I retired this year, fairly well prepared and am enjoying just resting so far. I am giving myself a year to adjust to this new lifestyle before making any commitments to anything! I enjoyed this video and was able to check all the boxes in your tips!😀
I retired at 53, now 68 and don't have any retirement advice because it's useless, hindering, and can be stressful. I have advice about how to live whether you are working or not. Get off the garbage food and lift weights.
And do push ups
100%, just keep moving and do not become complacent.
Brain dead.
@@bobbullethalfplay some pickleball 🎉
yep, and wearing a heavy vest 14 kg everyday
One thing that really wants emphasizing, is exercise as a means to making your retirement healthier for a longer time. I have heard so many stories about people retiring, then putting their feet up and being dead a couple of years later. I retired at 51 being a life long competative amateur cyclist. I still race and train at 65 and my health is much better for it, in fact i am fit as a fiddle, slim, no comorbidities at all and take no prescription drugs whatsoever. You can't enjoy your retirement, if you are unhealthy, or worse dead !
Secondly as Guy Lombardo sang, enjoy yourself, it's later than you think. Keep a financial buffer but spend the surplus.
Retirement is no time to be saving money as some people do, because they can't make the mental switch, from predominantly saving to spending, thinking that they are going to live forever but obviously can't.
We both retired in June, at 62&61. I went back to work part time, my husband hardly moves from the couch. I’m very concerned about his health and our future that we were looking forward to!
Sadly, his life will be shortened if he continues to be a couch potato. You may want to join a gym and work out together. We converted our daughter's old room into a mini-gym. Every Monday, Wednesday, and Friday we work out 1 to 1.5 hours in the afternoon. We also walk or stationary bike almost every day. Try to stay active to ward off diseases and other health issues, and keep up with dental care. That is one of our biggest expenses.
@@davepaturno4290 floss every single night before you go to bed and Invest 10 minutes time. That will save you countless dental bills.
Retired at 60. Pension and sold home. Lived on that $ until 62. Took SS. I retired so early in life (and gained lots of skills while working) and have several VERY part-time jobs. I own a time share and rent. Doing fine. Healthy. Travel a lot. Key is to get out when you can! Oh, and pay off what you can as fast as you can! Have tons of interests (most are free) and stay active. Don't think too much; get out there! Don't stay in one place. Move it!!
I retired at 51, not because I didn't want to work but because I would make more money in retirement. At 55 I got bored and started my own side business & got hired working for a company. Now I'm twice as busy and I love it. I plan on really retiring at 60. 🤷🏻♂️
I started working part time jobs when I was 12. Full time through the summers during high school. Full time after college, with periods of a few years of overtime. Retired at 54 and after 3 years, I still have no motivation to work at all and thankfully don't need to
Great video! I retired just over 2 years ago after a stressful career as an administrator in an assisted living community. Best decision I ever made! However, I did find it hard initially to reinvent myself; that first year of retirement was a bit of a struggle. What we have decided to do, is sell our house and are currently getting it ready to put on the market, hopefully this Spring. We initially thought Florida would be where we would go; however, after a trip down there over the summer, I think we've ruled it out for several reasons. South Carolina is looking better and better!
@jorgegiacchetti-jc4tkScammer. Cut + paste. No WAY bot
I think the biggest hurdle in retirement is ones self purpose in life, as a working adult, we are measured by the job, titles we hold.
After retirement we are just xxx, so its the voyage of self discovery to who are we, and why? Im not to far off from retirement but ive been around parents, relatives that all share the similar predicament. Self worth, self esteem issues and trying to identify onesself post retirement
That's why I stay active in a professional organization and devote 4 hours per week tutoring. There are so many kids out there who fell behind academically during the pandemic. They especially need help with math.
I'm at that crossroad. We are in Vero Beach, FL and I've got to get out of here. Although I grew up in the Miami area for 40 years, I've been away for 25 years. 20 years in north Ga. and 5 years in Maine. I just can't take the heat down here. By 10 am, it's too hot to do anything outside the house and I'm not a golfer. You can just go to the beach so many times. I loved Maine, but Covid killed our plan to stay when we lost all of our Airbnb revenue and I had to cover an $ 8000 property tax bill. So, the next chapter after we sell our Vero Beach home is to relocate to a beautiful town called New Bern, NC. It's got the 4 seasons that I miss, but the winters are mild and maybe a dusting of snow. High 58, Low 38 in January. Great health care, shopping and a sailing community. Regarding doing something with purpose. I am at that point that I've got to get out of the house and do something. I'd like to work about 20 hours a week, earning about $ 12 per hour and clear about another $ 800 per month. It will give me some serious "beer" money to do some things for myself. As a retired home builder, I'll probably build our last home, a cozy 1316 SF 3/2/2 car garage. Doing it as an "owner-builder" will give me something to do and put about $ 50,000 of equity in our own pockets instead of a local builder. I love traveling, but my wife doesn't so I'll have to work out a schedule where I can travel maybe a couple of weeks at a time, but get back home. With the price of gas, it's cheaper to fly to your destination and rent an RV versus buying one and burning a couple thousand on gas traveling across country. First goal is to visit the Reagan Library in Simi Valley, Ca. BTW, I looked at the Myrtle Beach area, specifically Conway and although I liked the area, there wasn't the affordability that I was seeking. I have a $ 250,000 budget, but the resales were real dumps, the new construction wasn't a good value and the manufactured/modular home segment wasn't offering the savings that you'd expect, along with long lead times.
My experience is that retirement will not go as planned. Primarily, this is because at retirement age and later you will probably have health problems (my wife and I have!) that severely hinder the pursuits I had dreamed of and planned. Prepare for unplanned health problems!
You don't need a purpose in life after retirement. Just enjoy the fact that you don't have to go to work and enjoy doing absolutely nothing
My purpose in retirement life changes from day to day. If weather is nice I work outside..anything to avoid housework. I clean when I feel like it. If I feel the urge to go car camping my minivan is ready to go in half hour. After a lifetime of structure I’ve become very self centered and just do whatever I want when I want. I paid off all bills before I retired at 66 and basic monthly bills are under $500. I wound up as caregiver for my mother but she recently passed away so I find I’m more active than when I first retired. I figure I’ve got 10-20 years (both parents were 95+) You never know but I don’t worry about the future.
Not me, doing nothing is just waiting to die, comfortably...
@@lorihamlin3604 my friends mother side lived long lives into their 90s. He used to say he had to plan for a very long retirement but then he Had a stage 4 glioblastoma diagnosis at 58. He passed away before 60! We just never know.
Actually, having a purpose, which the Japanese call Ikigai, is vitally important. Retirement can be the ruination of people due to lack of purpose and removing the only ohhusical activity and socialising that they had in their life.
@@derekathomson Being a Christian I have the highest purpose possible, and that inclides enjoying the fact that I do not fear death.....
Retirement is different for most people. I retired in 2009 from a nonsocial job. So life has continued the same for me. I do travel more yet it seems normal. My friend Mr C was very social and very active, he is now 78 and still working as that is the retirement he is happy with. My friend Mr P is 85 and is happy staying at home. My friend Mr. J is all about his grandkids and is happy with that. Money has not been an issue with any of us. We all live in the same homes we had when working. One of my neighbors was a high-level manager and is having a frustrating retirement. Another was an engineer by day and bike racer & birder and is happy as can be without a job. Enjoyed your video, it hit on a lot of these important things needed to be content in retirement.
I retired in 2019 and my wife turned into a caregiver for her uncle and then her mom and now her dad. My mom got cancer the month after I retired and died in 10 months. Wife’s parents had no plan for their care and death.
Yes, your videos do matter and are helping us all . Thank you so much 😊
I have worked hard since I was a kid. I can only imagine how wonderful it would be to not have anything to do when I wake up in the morning. From the moment I walk into work I’m overwhelmed all day. No breaks, fighting to get a lunch and fighting to get off on time or at least within a few hours after my shift should have ended.
When I retire, my purpose in life will be to do for me and my family. Eat right and exercise. I want nothing else to do with stress as I have lived enough purpose in my career to last me to 100.
I'm 57 and looking to retire. Between my retirement money and personal real-estate properties and inheritance I'm looking to sell fairly soon here in SC I'm hoping to retire at 62. So your advice and channel is very refreshing and keeps me optimistic....thanks