Rethink Retirement - well-being beyond your bank account | Clare Davenport | TEDxBYU
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- Опубликовано: 3 май 2022
- Navigating your retirement can be tricky. What does retirement mean, and how do you continue to live vibrantly during it? In this TED talk, Clare uncovers how we might reframe and redesign this important life stage and our outdated definitions. She will help you think about another type of Retirement ROI - beyond your bank account - one that could prove essential to your long-term happiness and well-being as we rethink how to best optimize our retirement years. Clare Davenport, the founder of Designing4Better, is a positive psychology expert, life design coach, CEO and published author. Clare began her career at Goldman Sachs, followed by over 20 years in strategy management for Fortune 500 companies. She has parlayed her business acumen, life experience and learning to become a change agent for well-being. Leveraging Clare’s leading-edge Ivy League research on managing transitions, Designing4Better develops ideas, frameworks and tools to help individuals, groups and teams evaluate and improve their well-being, resulting in increased satisfaction, productivity and performance in life, retirement, work and beyond. Designing4Better’s energetic style is smart, accessible and innovative, offering practical ideas for handling daily demands and accessible paths to successfully optimize well-being. Clare lives in Toronto, Canada with her husband, four children and two dogs. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
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.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
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.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $760k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Stephanie Kopp Meeks is the licensed advisor I work with. Just research the name. You’d find available details to work with her and set up an appointment.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach you using their service?
Credits to 'Carol Vivian Constable' she has a web presence, so you can simply
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Retired three years ago as an international airline pilot, grad of BYU. Haven’t adapted well. Suppose it’s a Tuesday morning, temp outside is 42 degrees, it’s 10 AM. You’ve had a bite, listened to the news, worked out for an hour….now what? What do you do the rest of the day and tomorrow and the next. I’m going back to work this month as a corporate jet pilot. Can’t wait. Don’t need the money. Secret to life is someone to love, something to do and something to look forward to.
I share your questions. But going back to work is not an option for everyone. In addition, I don’t think it’s wise. It says that your identity is tied to your job. You need a new role outside of the workplace. Nothing wrong with working till you die (unless you’re a pilot or something lol) but life is rich with other opportunities to diversify your experiences, friends, interests, etc.
Good for you. Happy flying.
Someone to love, something to do, and something to look forward to.
Hopefully my retirement plan, stated in one simple sentence.
It sounds like you love your job. If there is nothing else you would rather do, then do what you love. I’m about to retire, don’t get me wrong, I love my job, have been able to help a lot of people. But I want to do other things with my time, rather than sitting with a drill in my hand. Im looking to become instrument rated.
@@prydegirl That’s great that you have a plan. That’s most important. My retirement wasn’t planned or thought out. I thought had at least 5 years to do that. Also my career was all consuming. I traveled and worked countless hours. Not must time to develop interests. Made some mistakes for sure. Good luck.
I retired six years ago at age 66.
I embrace slow living.
I embrace minimalism.
Quality of life.
thanks for sharing
I'm 35 and I want to retire at 40. By that I mean being financially independent and only doing what I want to do.
I can agree with all except the minimalism part,... especially if it's because you don't have any money left.
5 years ago, we sold our business. I'm so busy now, I have no idea how I ever had the time to go to work!
Reading and learning, cycling and skiing, hanging out with friends and neighbors.
Travel, camping, gardening.
There's so many wonderful ways to engage your mind and body.
Volunteer, work for a charity.
Leave the world a better place for your grandchildren.
Ultimately, it's all your choice.
You are living my plan... physical exercise, volunteering,maybe side hustle to diffuse any financial stress....
Agree completely. I recently retired and after a first month of uncertainty I am busy with several volunteer projects, as well as exercising and being more involved with my religious community. My house has never been in better order, inside and out. Not missing work in the least.
That phrase is the sing of a happy/perfect retirement; "I don't know how I ever had time to go to work." My dad said that a few years into his retirement and I paid attention. My parents became more active and outgoing after retirement so much so that they had to put a calendar on the fridge to keep track of their events with friends and family. They never had a calendar in the house when going up.
I'm happy to say I followed dad & mom's footsteps and am keeping busy. Even more than they are so maybe overdoing it, but it seems to more I do the more fun it is. My recommendation is to cultivate lots of outside interests before retirement so then you simply do those during your former work hours and it makes for an easier transiton.
So great! Enjoy and keep growing.
Retired less than a year and filling my days with running, cycling, swimming, hiking, travel, photography, and other interests. So nice not to have to plan around a weekend, holidays or vacation to do what I want. I feel sorry for those that don’t retire because “they don’t know what they would do with themselves.” There are endless things to do, and at your own pace. My fear is leaving this life without finishing my ever expanding “list”! 😀
I’m glad I pulled through, despite the crises. I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts ... Stay Motivated!!
You have done great for yourself. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
@@patrickbrussels4454 What I think everyone need is a Financial Adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit
*KATRINA VANRENSUM* That's whom i work with.
RUclips is a public place; i can't drop her information here but You can just put her name on google and you will be directed to her website and drop her your message.
@@Erikkurilla01 Thanks so much I was able to find her page and I already leave her a message.
Retirement is wonderful if you have two essentials - much to live on and much to live for. Invest wisely and get good returns.
The key to making money in stocks is not to get scared out of them. An important key to investing is to remember that stocks are not lottery tickets. get a financial assistant
I think this is also a great time to invest in private equity and cryto. Can you give a pointer ?
I currently work with KATRINA VANRENSUM a financial expert i met in a seminar
I recently watched KATRINA VANRENSUM on TV , such a great speaker . but have you made any profit whatsoever working with her ?
Yes I have made a very huge returns on my investment with Katrina
As a senior, I advise others to retire as early as possible, and learn how to live on less so that they can. I think what people need to do is actually talk to and listen to seniors who are retired, instead of young folk who think they know what it will be like for seniors after they have retired. Notice that all advice regarding retirement living/investing all focuses on long-term investments. What about the day you are ready to retire? If the stock market is in the gutter on that day, you don't have 10 or 20 years for it to recover, for one. Also, when you're 30 or 40 or even 50, you are thinking of what will make you happy at that age, and what you are physically able to do at that age. I learned, for instance, that I hurt a lot more at retirement age than I ever thought I would, and that I actually like staying home and don't really enjoy travel anymore -- so all those travel plans and hiking, etc., are no longer what I really want to do. Learn how to be content with less, with what you have - that's what I've learned is the true secret to happiness. And learn how to love doing nothing.
Thank you for sharing! Great point
spot on!
Well written, Karen.
I’m glad we travelled when younger, as with health issues PLUS Covid, it wouldn’t have been possible to do the trips we did then, since we’ve retired.
Whenever someone asked, “What do you plan to do when you retire?”, my answer was always, “Nothing. Lots of nothing.” Our lives were always full of schedules, time tables to adhere to & seemingly endless evening & weekend work for our jobs, so the thought of having NONE of that was my idea of bliss!
And guess what? It is!
Wise words!
@@rasheed5457 Bingo
Retirement in my view is not necessarily about stopping, but having the freedom to use your time as you choose. It could include work, full time, part time, volunteering or whatever else you choose…. It’s the ‘freedom’ aspect. It gives more choices to find your way to fulfillment, better health or whatever it is you’re wanting… the hardest question for many of us in life, is ‘what do I want?’ and the less challenging part is figuring out how to find it… love the video and comments. Thank you
Thank you so much! I agree - retirement is not about stopping!
Very well said!
Couldn’t agree more - the day I realised I was “past the post” of financial freedom (at 51) was like being given wings.
Hit the nail right on the head!
I went back to work after retirement. The trick is, love what you're doing. I work because I want to, not because I have to.
I have to ! But I havent yet stepped back into. Must perform passionate tasks that bring some money. So that loving what I'm doing is part of what I have to do, unless I always want to scrape along.( which so far has been beach-bum good)
Retired as a Federal Agent at 47 years old, started and ran my Private Investigation Agency for 10 years, sold it, then became a Social Worker on an Apache Reservation for four years to give back to my community before I permanently retired to Mexico several years ago. Grew up as a poor farm boy who joined the Marine Corps at 18, then college at 22. I always lived a notch down from my peers. Learned to cook gourmet meals and embrace my passion of CrossFit and jungle hiking that I daily do here in Puerto Vallarta, Mexico.
Joined the Army at 18. Retired from the army at 39. Retired as a MAJ, full pension, invested well. Real estate with rental homes that cash flow well. Money was never going to be an issue. I happen to love golf and tennis. I love routines, guess the army got me into that. I planned my retirement for years. The day I left active duty I got on a plane to the Philippines where I already had a home that I had built little by little for the previous 3 years. It was exactly what I wanted. Home is in a country club with a golf course, tennis courts. I get up in the morning have my coffee, go to the country club, relax talking to expats, play some basketball or tennis or a round of golf, afternoon I watch a little tv, in the evenings I go to restaurants. Shopping on weekends, weekly massages and foot spa and pedicures. I volunteer and give some lectures at both the local university and the military bases here to stay active and engaged. Meet with expats and am involved with the local VFW and the VA clinic to help veterans. I love my life in retirement and 42 and I don’t plan on working for a paycheck ever again. I live in tagaytay philippines in my dream home, have condos in Manila and Cebu, as well as rental properties in Texas and Florida. I have a property manager in the states and I pay my brother to handle the day to day stuff back in the US. I really have zero interest in ever going back to the US or back into the workforce… I’m not bored at all. It’s been 3 years but I can’t see myself getting tired of my life.
Well I am 35 years old with no passive income and very little set aside for retirement at this point. I have always been curious about the stock market and have witnessed some people who played the game right and retired early because they used the stock market. When I ask them, most said that they invested very little to start with, but their portfolio grew. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns.
@@jaluriaja6294 Buy index funds if you wanna be safe, though you’d probably be better off just going to Vanguard or something for that
@@steffan683 Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I'm buying again.
@@saanvi848 who is your financial coach, do you mind hooking me up?
@@jaluriaja6294
Let’s not sneak up on the future, let’s celebrate today! The problem for many people is they don’t except the fact we are going to die, it’s something we are not taught because it’s such a taboo subject. I retired at 73, got divorced the same year, moved into a rental apartment, realised property & possessions are the very things that keep us on the treadmill for all of those years, it’s as if we think we can take those things with us into the next life. We worry about our image & how others view us, nice car, beautiful home & garden. Comparing our children, making comparisons all our working lives & feeling inadequate if others seem to be doing better. I wake up now & think today is another adventure, today is the most important & only day we may have, embrace it like a sunrise!
Nice.
Love it! Thanks for sharing.
Absolutely on the 'money', it's a little like subscribing to a definition of success, write your own don't sign up to someone else's.
Well said.
What you said, and how you said it, got my attention. I am recently retired and constantly thinking of how to 'organize' it for optimal living. Your contribution is thought-provoking. Thank you.
Keep it simple people. Retiring for me was easy. Truth be told I never went to work because I wanted to, but since I was not independently wealthy and I liked to eat and have a roof over my head, so off to work I went. The goal from day one was to retire someday and my goal was to make sure that day came as soon as possible. I never hated work, but I never lost sight of the reason I was there. I retired in April of 2016 at age 62. Why 62? Simple, because that's when I could first get my Social Security. I know there are a lot of people who think you lose money by taking your Social Security at 62, but that simply isn't true. You see my monthly checks are smaller, but smaller checks don't mean less money. People seem to forget that I will get 48 more total checks than the person who waits until age 66 and 72 more checks than the person who waits until age 70. Since those two groups won't catch and pass me until age 80 I only had to ask myself one question: "would I rather have more retirement years when I was young enough to enjoy to enjoy them, or more money when I was 80. I took the time because time is the one thing money can't buy. I'm coming up on 7 years retired and I am having the time of my life. Retirement is the prize for a life well lived. It drives me nuts when I read about people who retired and end up going back to work because they are bored. If you get bored during retirement, you are doing retirement wrong.
I took SS at 68 because it was when I retired. I'm 91 years old, so taking SS at 68 was a good move although it wasn't intentional. A lot of people took SS at 62 because they think that they might not live long.
I don't want to go an vacation for more than a month. I want to be free to discover my purpose and do things that give me joy. Making the world better.
I'm in my 30s. I don't ever expect to be able to retire. So. I work part-time at a place that's ok. And part-time pursue a hobby/future career in something I love. Life is too short to wait till you're almost dead to actually live.
Brilliantly said “Life is too short to wait until you are almost dead to live”
Very unusual approach. You will be fifty in no time and could have been a few years from retirement even with conservative retirement investing. Basic math of compounding. If you continue in your path, you will have proved that you can’t retire. Best to you!
You are wrong. Life is the longest thing you will ever do.
Thats a great quote but I dont see why you cant retire, i started over after a divorce in my late 30's and now at 45 im on track to have a comfortable retirement and possibly even stop working full time in my late 50s
@@brianpolcik2669 well stated.
Hello From Finland.
Retired Time is Best Time in my Life !
I have pension but at 57 my retirement pension isn’t big, enough to cover expenses. If I want to save cash for home improvement and car repair/replacement, I must cut out shopping. I have been retired a week. Every morning I take my elderly mother to use the community gym and then pool. I cook from scratch daily. I do whatever I want during the day and at night. My time with my mother is worth more than another 10 years of full time working.
Congratulations on your retirement. I'm happy for you that you have this time with your mom. Enjoy! You will figure out how to overcome the challenges.
Bravo
Our elders need attention and care.
I lost my job due to burn-out .
I can't get another job so i choose to retire early.
@@nicog2214 Perhaps working part time for places like Home Depot or Starbucks. They provide healthcare and 401k for part timers I heard. I was considering doing that to save extra money for home reno and dental. However my boss just asked me to come back working part time at home on my own schedule. I can save $25k a year working 4 months. Anything now is better than nothing or later. Don’t give up. You may come a ross something good around the corner.
I retired at 59, I have so many hobbies that my work always got in way of them…in many ways Im busier now than when I was working but without the stress of my medical career. Im a much calmer person and having fun. I know many medical providers that seem to know nothing else but the profession they do…a few love their work but most of them don’t. Im always amazed that people don’t know what to do with themselves post a career….fortunately for me that is not the case. I don’t miss my past career at all…love autonomy of my own time and pursing all my passions in life. 😊
Your comment hit hard. I’m 57, in my 25th year in a stressful medical specialty. Burning out faster every week & hoping to get out soon.
@Seekingbuddah, kudos to you my brother! I retired 3 years ago and am approaching 60. I haven’t had such a good go of it as you. You must be single, lol. I actually did more outside work when I was working (60 hr weeks) than I do now. This woman’s video is what happened to me. Getting new energy to change my situation. Best to you.
@Seekingbuddah Maybe you haven’t found Buddha because you’re spelling his name wrong? ;o) Oops, I see it can be spelled either way 🤯
@@SammifromMiami Hey Sam, how are you doing?
@@drizzt8965 ok. How 'bout you?
My dad is a retired college professor. He is getting a second degree, and teaching students for free. Mom, a chemistry major, is learning the Qur'an in Arabic, something she never had time to do before retirement. Father in law, a retired physician and philanthropist, is very vested in maintaining family ties, calls all of us at least once a week. Wrote and self-published a book recently in his late eighties and runs a school/orphanage. I've learnt so much from them about retirement and aging gracefully. We can find and pursue a passion, learn new things, foster relationships either human or divine, do selfless acts for others.
Invest in community, friendship, family and giving in your 40s and 50s, this is building for retirement 🙂
Very wise comment
thanks for sharing ... agree these are great ideas
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Retirement choices determine a lot of things. Currently working overseas but will return to my home country in the near future. I'm a landlord. I invested in property at the age of 22. Value has soared and renting out. Will live on the rental income I receive and live with my aging parents for the time being. At 60 I can withdraw from my superannuation (401(k)) worth about $1.7m.
@Bobby Blue It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $51k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great advisors will always make returns.
@@Shultz4334 think this is something I should do, but I've been stalling for a long time now and i don't wanna caught unawares by retirement. I don't really know which advisor to work with; I feel they are all the same.
I definitely share your sentiment about these advisors. When I was starting out, I checked out a couple of freelance advisors online, so you could do the same. I personally work with “Stacie Kristal Weber”, and she's really good
@@Shultz4334 I might have heard this name somewhere, but can't really recall. I'll be following her up. Thank you. Do you know if she manages family fund too?
I started working at a fast food restaurant as a delivery driver. I’ve worked 4 days a week for 3 hours for a year and a half. I have enjoyed getting out in all weather, speeding around town and especially meeting all the young people who work there. I’m soon turning 71. The money I don’t really need is nice to put in savings or give more to charity.
Good for you…. It’s helped you find the joy and value in the things you’ve mentioned
wow this is an inspirational story!
Wonderful holistic approach towards retirement... Be positive, loving, caring and contribute 👍
I have been living my retirement dream for five years. Bliss for me is singing songs with friends with others who love singing. It costs me almost nothing.
I love it. Thanks for sharing!
And that's why living now is so important. Acceptance as we travel through life changes is all part of living.
yes so true.
Agree, getting comfortable and aware of who we are as we evolve is so important - thanks for sharing!
I have just retired from being a busy Joiner and I am currently 'optimizing' as a Sculptor. The ROI idea resonates well with me and encourages me to think deeper about my plans.
Thanks for your thoughts!
I want to continue having the choice of doing what makes me happy while making my life creating purpose and focus to others. This includes financial independence. lots of close friends and family and good health.
I'm pre-retirement . My wife and I both earn a decent wage and enjoy the perks of having extra money . When I'm getting a bit strained at work , I have the ability to take an extra day or two on the weekend . Maybe skip working a Wednesday in order to break up the working week . My activities outside of work mainly involve relaxation and moderate exercise . The ability to unwind is directly connected to being wound up in the first place , but not being so tightly wound up that I needed weeks of vacation time , only to face the dread of heading back into the furnace . I intend to work at a relaxed pace and slowly lower my hours I dedicate to my occupation . At least until something more worthwhile snatches me from this routine . A lifelong vacation has never been my dream . A life of no stress and a string of hobbies seems more workable . I'm struggling with finding my identity . Where I fit in the world now . Maybe in a few more years my perspective will improve and I'll find that purpose again .
If I can suggest, read book named "Ikigai " based on Japanese phrase that helps, finding purpose in life pre or post retirement. Have a blessed years ahead
Bible is the Word of our creator, reading it help us found our place and His divine plan for us. My identity is secure in Christ.
Thanks for sharing. Keep exploring ...I love that you still want to be engaged and keep testing out ideas.
If you want help finding your identity reach out.
It's really important that we listen to those who have been doing the studies, like Clare! What retirement was and what it is now are so different and there's really a quality of life in these years that if we tap into it the right way, it could help many facets of society thrive, and ensure that those who have spend a life time working and contributing, get well looked after.
Thanks for sending this to me, great talk!
true!
Thanks so much for your thoughts
This is just one case study.
Thank you!
Remember that retirement is the breaking of the decades long habit of working. It took me three years to settle comfortably into retirement. It wasn't an easy transition. I still miss the office and everything about it, especially my coworkers. I work part-time now and feel content with my new routine.
Sounds like a good transition/compromise!
That is EPIC - perfect world now .............
Thanks so much for sharing. I love the part-time idea!
I was self employed for 40 yrs. a small business. I retired early. Now i dont have the headaches of employees and i do the same thing, because i have always loved what i did🤓
Did you plan in advance what you were ‘retiring to?’ What changed after those 3 years? How did you know you had found your way?
65 and one month into retirement and already know I made a mistake. Left a fun job I loved because friends my age were retired and thought I was missing something. I wasn’t. Don’t retire if you love your job.
Transitions in life definitely need to plan. Personally, I am still 5 to 10 years from retirement.
Great points on life style and community in planning how to move into next phase of life.
I agree friends, family and community involvement on next phase of life.
my wife and i are both 61. We dont have much money so the idea of spending the next 30 years on holiday or playing golf all day wont happen. However, we have three grandchildren under 3 y/o all of whom live near us. I think we'll be happy, focussed, busy and have an enormous sense of purpose and reward. Go us :)
I am approaching a reWIREment of my values, time, energy to pursue my personal mission full time in what ever form or means Is most effective. I told my friend life and retirement are like a Choose Your Own Adventure book were you get to determine the choices for your character.
Inspiration and reflection of high quality. Thanks for sharing.
A brilliant TEDx Talk! Thankyou Clare Davenport!
I worked as a writer for 30 years and I’m still a writer, a writer who has more money since I stopped working: I never made much from my freelance work. Now that online education is in full-bloom, I’ve learned fragrance blending (the most difficult, expensive education I’ve explored after retiring), jewelry making, bookbinding and collage and printmaking, spending 3-5 years on each so far.
Here's my story. I retired at 57 due to health issues. I didn't want to. I was afraid that I wouldn't have enough money or enough engagement with life. I was right and one month after several months after retirement I was diagnosed with cancer. So I think you have to go with your gut. If you are really really ambivalent about leaving your job, maybe you shouldn't and if you can't afford to maybe you shouldn't. I think work is good for us, being engaged is good for us. It's bad if your job is way too hard or miserable but even then, complete leisure and no income can be worse. I have not found retirement much fun and I am lonely, have gained weight, have become ill and do not have enough money. I am struggling now to find another part time job that I can tolerate mentally and physically. Everybody's different but I'd just say, be really cautious before you give up your job. It may not be easy to find another and you may not like a life of leisure as much as you think. Good luck.
I wish you luck in your search and hope your health improves
@@botabrat1 Thank you : )
Don't know about the US but in Denmark post 60 years people are the happiest.
Thanks, Clare. One of the best videos on 'Retirement.' Well done. This, from a man who took voluntary redundancy at 59 and is now 87 and who is practicing just about every aspect of retirement you advocate.
@arthurthomasware5004, I would really like to connect with you. How did you spend your retirement years. Would you mind sharing me your email
I retired at 70 to be a caregiver for my husband who passed two years later. We had already moved to our large Florida condo- when we puchased it 11 yrs prior to our move-in, for investment, we bought the extra bedrooms and space, and waterfront as an invitation for kids, grandkids, family and friends to visit. After he passed I concentrated on our tenants and then selling our investment properties. During this time I’ve been concentrating on Health and Nutrition (mine and others) and became certified as a health coach. During covid I rented a tiny house a short bike ride (90 secs) from my kids in NJ to help w school & childcare.
Now splitting my time between FL and NJ.
LOVE golf, swimming, rowing, walking on the beach. This summer I started waterskiing again (after a 30 yr hiatus) and when I return to FL in two weeks I plan on learning to surf.
Covid put a damper on getting out and making new FL friends. But it’s my goal. And getting people out to VOTE.
I was a type A worker - supported high profile major expense projects around the world with lots of travel then meetings/conference calls all hours of he day/night. I was a little concerned I might have trouble adjusting to retirement.
However, I also had many activities and interests outside of work, as well as a decade's worth of home and car projects I wanted to get to. When I retired I slept in later, then went to the gym in the morning. Afternoons were for project work, or volunteering. Essentially, I did these during my former week day work hours. I still got home late for dinner just as when working. Worse actually as we moved it back an hour so I am now mostly on time.
This made the transition into retirement seamless for me. I sort of kept the same schedule, but no no "homework" in the evenings and I have my weekends free. 8 years into retirement it is great and as busy as ever, jut doing mostly fun things of my own choosing.
We still treat travel like vacations, just maybe a little longer duration. The first few years we were "go-go" and would travel internationally 3-5 times a year, plus several smaller vacations within the US. After a few years of that, we decided that was too much and not as much fun nor special. Seemed like we'd just get back and before we could really settle back down ewe were off to the next adventure. So, we backed off to just 2 large trips a year and this is a good balance. We still look forward to them just like when working, but we don't feel too worn down from the stress of large and frequent trips. As fir the beach, before Covid we would spend a month in the Fall in Maui snorkeling. We found that was about the max we could take of just lounging and taking it easy which can get boring. She is right that a retirement of full leisure with sand, umbrella drinks and sunsets isn't something one would enjoy day in and day out for years, at least that matches our experience.
Excellent comment David, sounds exactly like my retirement. Agree about the travel and beach, it can get boring after a while. Doing volunteer work has been extremely rewarding. Hope you have many more years of happiness!
@@joefaraci8575 Thanks Joe - I agree that volunteering is extremely rewarding. I still am involved with Boy Scouts as an Eagle Scout coach. I also run the IT support for the small local school our children attended K-8 though both are now late 20s. I have a couple hundred computers, wireless points, printers, servers, etc though most is maintenance now except for Fall when school gets started and we pass out Chromebooks to all students. Maybe a few hundred hours a year so not too bad. I also am on a maintenance team at our church so I help with repairs of all kinds at the church and school.
My wife also volunteers at our church, the local county museum and a historic theater that still shows old films on projectors and has become very popular in the local community.
The good thing about almost all of these is that we can leave for a few weeks or month several times a year. I have others helping with the IT. Scout projects are probably the most restrictive as they need to be done in specific times, but just a couple weeks a year.
I also "volunteer" with my friends. I'll help older friends with projects around their houses they no longer can do.
I also help younger friends still working get some of their projects done that they otherwise would put off for lack of time - this way I can make their lives a little easier as well.
Current major project was helping restore a large Victorian home the last 6 months for a friend to sell. He is using the profit to build their dream retirement home - a log cabin kit overlooking a river bend on a secluded property about 10 minutes out of town. In about 5 weeks 4 semi truckloads of logs, windows, roof, etc. are scheduled to be delivered so I'll be building a house then and hopefully we can get it under roof before the snow falls.
I also have restored a couple cars so far, one left but it will wait another year.
All of this is fun for me and I can walk away when I feel like it. But I prefer the feeling of being useful and helping others, instead of the commonly held view of retirement being just sipping a Mai Tai on the beach every day. This is a lot more personally rewarding and everyone benefits from my expertise and spare retirement time. To me that has been a perfect retirement.
Hope you like wise have many great years in retirement !
Love these thoughtful words! Thanks for sharing
Sounds like you got it down! Best of health to you.
@@SammifromMiami - Thanks - same to you !
A great presentation with very useful information & hopefully it helps everyone as young as the mid 30’s on up, but especially those close to or recently retired. I kinda developed these theories on my own intuitively bc I didn’t like the “traditional retirement model”!
So, I’m happy to see this aligns w/what I’m doing!! Thank you!!
Thank you! Sounds like you are already so thoughtful on your many "next chapters"
thanks for sharing
I am 70 years old, retired at 66 and started Social Security. Plus military pension and 35 years of investing. Retirement to me means staying busy in my yard, vegetable gardens, volunteer at Jacksonville and Gardens twice a week. It’s working for me. When our conun
I’ll continue. When our country survives this current Liberal Administration, and returns to energy independence along with a vibrant economy, a comfortable retirement will again become a reality. God Bless America.
Thanks for sharing your ideas!
semi retired since age 46, enjoying no stress life. ride bike,play with dog in park.
Loving what you do is a fortunate place to be but always, always do something. When we lose our sense of purpose we die.
Thanks for your comments
Retirement means quitting my 9 to 5 (actually 11 pm to 7 am 6 days a week +) after 32 years to do work that I want.
Good for you!!
“Retirement” obviously means different things to different people. Much of it depends on how you look at life. I know many people who would rather just sit home and do nothing but wait to cut the grass. If you are a type A personality you probably won’t stop no matter what. People that say money doesn’t buy you happiness, usually have enough money.
love your name. i too am a Wahfreak. your last sentence is the absolute truth.
Research does not only ask rich people about how they view money ;-)...
Thanks for sharing? What's your view of retirement?
I believe we hit a shift, where we look beyond dollars and we seek greater things than just financial worth... Maybe that is true retirement!
Good point. Really makes you think
I’m just 50 and enjoy working. The thought of retirement seems boring to me. The weekends, vacations, etc for me is a treat for working. I’m not a workaholic either. I just like a balanced life.
I love what you said about vacations being a treat for working. I love that mindset so you can always have something to look forward to.
finally someone agrees with me...change is so hard. Not everyone is able to do or understand how hard change is but has to be done
Yes change is often hard. Thoughtful and intentional change is easier. Thanks for sharing
I have two friends in their late 70s. One, a man, is barely functioning living in a basement of a friend’s house. He’s so unhappy as he doesn’t have the finances needed for basics like dental work and a decent place to rent. My other friend is extremely depressed. Physically finding it difficult to walk and suffering from long covid have taken the joy out of her that she used to so generously share. People have complex lives.
I agree people do live complex lives. Loneliness is everywhere sadly. Thanks for sharing
I love the idea of retiring to something. Part-time work in retirement seems like the ideal win-win situation as it'll keep you active and engaged AND give you spending money to do anything but not everything.
It is so important to think about what you plan to do with the time retirement will provide you. Retirement is about so much more than the money
I have retired from the goal of retiring. Self employed for 30 years with no pension/benefits other than Medicare and SS, I am now 65 and work 8 months per year running a lawn mowing business. Having my winters off I can understand the “empty week” non schedule and I have found ways of keeping my life interesting but exercising. Woodcarving, and spending time with my friends when available.
I know that physically my days are somewhat numbered as for an active lifestyle, however taking care of my health as the number one priority will keep me working and enjoying the rest. I have savings, I have been debt free for a really long time, my wife and I are confident that we will be ok. None the less money and security mean little if I can’t find contentment and joy.
This video left me speechless.
I’m in pre retirement mode, three years away from Medicare benefits, which is the one reason I’m not retiring now. Medical costs are wayyyyvtooo high in the USA. I’m planning to live in Europe and travel, study foreign languages, read and write. It’s not a retirement so much as a new phase of life.
If you are moving to Europe, look into insurance there, you won't have to wait until Medicare kicks in. After time there, if you want to come back, you'll have Medicare. Just a thought. Happy retirement.
Pawlie- the cost of living is insane in Europe
Good retirement reframe. This is good thinking and worth a listen.
Thanks for sharing? What's your view of retirement?
This is all really good information for someone like me to be able to take in. Thank you Clare, there are a lot of things here that I wouldn't have thought about otherwise
Thanks for sharing? What's your view of retirement?
Amazing advice...for people to prepare their own retirement objective....is that to late or too fast,is most critical step to make decision for starting ..
Hello , Thanks This good Retired Video. Don’t leave those You Love Behind & Have Fun along the Way Retired Time.
Retired 4 You.
Thank you Clare for the clear and really down to earth and practical approach to retirement. I’m about 9 months into my retirement and Inadvertently applied similar ideas to my retirement plan. I was concerned as a type A person (ex-farmer, work in international missions, and finished 20 years in a high end craftsman job restoring vintage pianos.) Yes, money was/is a factor as we are by no means well off but we have enough to live. I wrote down these 4 items that I will structure my time around. 1.) Spiritual formation of men, helping men to walk closer with God and make wise choices for themselves and their families. 2.) Adventure, I’m fixing up an old sailboat and my bride and I hope to do the Great Loop. 3.) Learning, always want to be learning something new either physically or mentally. 4.) Creativity, (in the form of the arts) creating things from wood, improving my oil painting, re-learning the guitar etc. Most of this can be fulfilled on a pretty small budget except the adventure. I expect them all to interplay each rising to take priority as time moves on. I’m glad I thought this out ahead of time! Now just counting the days with my bride of 37 years as she’s about one year out from retirement. Thanks again for the challenge to think outside the box. Cheers
Good comment. I would listen to your TED Talk. You're finding meaning through service and I think that is key to a robust retirement.
Thanks, Spot on my friend.
I'm in my 40s, I'm not sure I agree with much of this. My plan is twofold. 1) make enough money doing a job im good at and don't hate so that I can both live how I want now and be prepared for my retirement years. Tick. 2) enjoy living now. Have hobbies, meaningful relationships with my family and friends. That's more of a work in progress than 1 but it's become a real focus. Because no one knows when our time is up. Planning for an endless holiday 20 years down the road makes no sense. I could be dead in a week. We all could... So balance is key. Don't be reckless with your financial future, but don't stack all of your hopes on a golden retirement that may not arrive
Very wise - thanks for sharing!
@@claredavenport4005 great presentation Clare. Really engaging and made me stop and think
You have a healthy perspective. Don't defer joy, but put away something for the future. If you can stash a few dollars away on a consistent basis, you'll find that it's a relatively painless way to secure your future.
Enjoy! But make sure you have enough to retire ,if you want to at X age..Its not fun when you get there and find you haven't enough income! Inflation has ruined it in just 10 years! Still working at 75,,, mainly in the crypto and growth community oriented orgs. Loving learning something new,, and the challenges!
good points!
Seeing friends retire and the problems that arise, retirement is more like waiting around to die.
When will you be presenting on Ted Talk? I want to attend. LOL
I’ve never dreamed of retirement. Sounds mind numbing.
Dreaming of retirement is hardly the reality of it. Thanks for your insights.
Money matters.
If I had what I needed, I would buy a small house near a bike trail. I would ride my bike daily in good weather.
I would have the money to travel again. I had traveled widely.
I still write, that hasn't changed.
My daughter is moving far away. I don't even like where she is going. I won't be moving there.
I have got to substitute the missing people in my life with new friends.
This is very hard work and my greatest challenge.
It is not as easy as this speaker claims.
I never thought about retirement until about three months ago. My job is so boring but at 61 the odds of landing a new exciting position that pays well is not good. How can I escape this drudgery?
I always associated drudgery with retirement but now I live in a milieu of drudgery. How could retirement be worse than this? It wouldn’t have to be. I’d be more in control. Could pursue interests. More to the point I would not need to accept drudgery in exchange for a check
I think many people are torn between leading a carefree life full of travel and exploration and being 'responsible' and hanging on to assets to pass to their children. That is why retirement for many becomes a conundrum. I say this because I myself felt this way, We wanted to pass everything my wife and I worked so hard to build to my daughter, my only offspring. So she could have an easier life, not have to work after we were gone, had assets to fall back on....that came to an end in 2014 when she died of cancer at age 25. Now, we are still working but close to retirement, have built a considerable nest egg, and my view now is to live with abandon and spend it all and hopefully, die broke. I don't know what else to do....
I'm so sorry for your immense loss.
What a terrible loss after a very good plan....and I like your "Plan B" a lot. I'm of the same philosophy overall but also have grandchildren so their wellbeing is my Plan B. Thanks for being brave enough to share a poignant and useful story.
I just don’t want to have to go to work everyday
And I don't want to ask anyone for time off. Sometimes it's a yes, but mostly it's a No! Your life is not your own.
Why go
I started a small service business in something I love and work when I feel like it and for those people that I like. It gives me something to do and look forward to and some extra money with no pressure. My personal life always takes precedence over work.
Good speech!!
I agree you need to plan for your retirement but nobody ever said I wish I'd spent more time at tge office on their deathbed.
As you move into your 50s and 60s you see people running out of time.
I took a sabbatical last year and my health was better with less stress, time to exercise and eat more healthily. I lost weight and slept better. I had time to take an interest in educating myself and do new things and although I like my work colleagues realustically I'm m not going to miss them enough to justify working and I have plenty real friends.
Going back to work was about liking to be needed (but that feeling soon wore off!) and financial fear even though logic says I'm ok.
I Retired in Finland , then I am 55 age. Now I am 58age , this Time is best Time for me !
Later I want Retired in Finland & Thailand about 50/50.
I think this is Good idea ?
Retired Time not need Money So much !
Thank You for very Good video !
Retired 4 You.
The Decade of Healthy Aging and Communities (2021 - 2030).
The community is very important for the inclusion of the older women!
Community building through intergenerational exchange programs, expanding funds for the community.
In the book “Ikigai”, written by Hector García and Francesc Miralles, the authors researched the key of the healthiest communities around the world for longevity. They discovered that these people never “retire”, because they live a healthy lifestyle and know their “Ikigai” (life’s purpose), they nurture it all their lives up to their retirement age and as a result, they are happier and enjoy the pleasures of longevity too.
Thanks for the tip. I just ordered it from our local library. I also found a free audio version on RUclips.
@@BeckieZullo My pleasure. I hope you enjoy it
@rawbirbella justthat I’m ready to eat my mangoes and papayas already until I find my Ikigai
Love this book! Thanks for sharing
I'm 60 and still searching for my purpose. Maybe I've already fulfilled it.
Jeeze listening to this droning brought on my early retirement Zzzzzzz!!
Having higher expectations of yourself and lower expectations of others would be good enough recalibrate your future. I have not retired yet, but monitoring others are not impressive. Retiring outside United States may be most affordable
If you are self employed, work smarter, just cut down hours ease someone else into the operations, take a side seat, if not a back seat and make time to enjoy what you like.
Fine is fine. Contentment is contentment.
To me retirement means working 50% of my pre-retirement hours - 2 or 3 days a week and every weekend is a long wend.
I work 3 days a week, 4 off.. get benefits and good pay . sometimes I pick up extra shifts to help when I am able but I have a lot of control of my schedule. I also take vacation..went to Tanzania for over a month is 2019. regularly go to mountains for long weekends... I am 58.. been doing part-time since I was 54 or so. my work is physical but fun.. I consider myself semi-retired.
@@zanym8088 excellent way to live and be productive.
thanks for sharing
My hope is to get to volunteer in my community, volunteer politically, continue learning, maximize my physical fitness, make art and see the world’s art museums.
Sounds like a great plan!
“Navigate” is a good term because you’d be a lucky b****** if your “plans” (“designs” or whatever) for retirement work out for the whole duration. You, or your partner, could be dead or incapacitated within a year or significantly outlive your investments (assuming there’s not a crash). But that’s part of the adventure, the game of life. In work, generally someone else tells you where to go, what to do; in retirement, you’re the navigator. I think we owe it to ourselves to be the pilot of our destiny, at least once, before we depart for good.
Beyond here there be dragons. You think that stopped Columbus? Go for it.
There are three possible scenarios when someone is old enough to retire but doesn't. First, people don't retire because they haven't seriously done the math to see if they can afford to. Second, they have crunched the numbers and they cannot afford to. Third, they can afford to but they are passionate about their work.
Great video!
Interesting, maybe add a segment on dealing with a spouse with Alzheimer's. This is a growing problem in the USA
Thank you for this! Good idea
Buying 4 new Goodyear’s for my car is the only re-tirement I’ll ever be able to afford.
I’m 64 and have been retired for five years and love it. That said, I’m the chairman of a public company and a private company and on the board of a metropolitan racing club. That’s the trick for me, doing something constructive, something I enjoy and still having down time for anything else I want to do. That’ll do me.
Went to Phillipines..will marry soon to wonderful loyal, faithful honest younger woman there. As soon as I landed my Diabetes disappeared..I kept taking metformin but small doses..But don't take that now..And my numbers haven't been over 100 in months..But I eat differently and fast intermittent. My Woman is thin and helps me. I follow her lead even here. I'm back in America Optimizing my rentals. Back in March to enjoy..help and bless others which blesses me. My Children here know how to reach me and I'm always available when I'm here. But my new mission is for those in great need. My Children are thriving. As will my new family. My ex is one of my best friends. She's Filipina and enjoying some of my rental income as well. By my choice. And my new wife has already signed the prenup.
Thanks for sharing
Staying relevant, doing what you enjoy, and being active. Recipe for a long life.
Wow, this is so good, thanks Clare.
Thank you!
One of a persons challenge is what their "life "means and how they develop their identity. Too many times we are defined by our vocation. Too many times we have no definition of "success". Too many times we don't have a definition of "retirement. We are the first generation that has any excess monies to even think about retirement. Physical handicaps created by getting older and a body that loses physical and mental abilities will continually define us until our death.
Money was here when I got here and will be here long after I'm gone, never know when our last day will be, so make the best of each day 😅
That was Awesome!!!
Thank you!
Even after retirement, you've gotta have some form of work in the weekly schedule, for whatever hours you choose, to make you appreciate your time off to relax, befriend dogs and beat your own drum!
We've gotta have darkness or we cannot see the stars! Plus we absolutely need the preceding dark of night, to fully experience the oft overlooked beauty of each days new sunrise.
I dont think we have to redefine retirement. Retirement is what you want it to be. Maybe retirement for one person is not working, another is doing a part time job, another is working full time on a lower paying job they love or starting a new business.
Retirement doesnt mean not doing nothing. Retirement for me means being financially independant.
I can actually retire at 45 instead of 50 but sometime got board anyway did enjoyed life after retirement
I’ll be retiring in a year. It seems like I’m waking back up all my emotions. Is this common?
Wow it weirded me out to think that the average life expectancy was 44! And Im convinced your 40's are the best time of your life!
Is it the accumulation of time that counts? Or what is done in the time we have?
It wasn't 44. She's wrong on that one. Many children died in infancy, so they averaged it out to 44. Many people lived to 70 and 80.
Her stats are true but misleading because of infant mortality and a lack of any antibiotics.
Well early retirement would be great if the pension was actually a liveable amount! Here in Australia it's a laughable amount.
you know it
If you want early retirement, work for it. Society does not owe it to you.
We work and save for our superannuation in Australia. I’m happy to keep working til I’m in my 70s as I enjoy work. I make time now to go overseas every chance I get. I think in US they don’t get long holidays. We are lucky here with at least 4 weeks a year off per year
@@janettemarkjh ye true unless in NSW where you cannot get full workers insurance after 65