Common Traits of Someone Who Can NEVER Retire | Even One Will Stop You!
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- Опубликовано: 4 май 2024
- This video discusses the traits of people who can never retire. The most common trait is a lack of interest in learning even the most basic elements of personal finances. If you have this, you can (probably) work the rest out.
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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.
I'm about to turn 72, and have been retired for a little over 11 years. Shortly before retiring, I asked my father why coworkers all have new cars but I'm driving a 20 y/o Oldsmobile. He answered "It's because THEY have debt but YOU have wealth!".
the answer is obviously the other way around. those with debt can't afford new cars; the wealthy can.
Smart. Me 63 retired no debt no car. I just ride a bicycle
@@PInk77W1nice
Yea, related, I hated Wells Fargo, thought they were a bunch of arrogant pricks. I paid off my mortage two years early. They annoyed me, I sent the check. Done.
Im putting money in an interest bearing savings account so I can buy a newer truck with cash in 12 years when I retire, that way no debt, no driving a 25 year old truck. Just plan ahead.
At 56, with health issues it meant early retirement with little savings, turning to investing became my lifeline. Now I'm retired at 58, with over $3M saved, It's been a journey from uncertainty to security and peace.
to be realistic, Luck plays a significant role more-so than the resources to thrive with investing. without it, it's very challenging to succeed, I've been there
when its consistent, its not considered luck. I attribute this to research which was the challenging part before it led me to Emily Ava Milligan, a top fund manager, in turn she made 310k into this and counting
I pasted her name into my browser, and her website popped right up. It became clear how popular her sessions were. Your example is rare. Thanks for the share
I knew someone who had all these traits. I divorced her. There was no way I could retire with her. That was 8 years ago. Smartest move I've ever made.
Thanks for the comment WB
mine died in her sleep 6 years ago. wake up EVERY morning
with a giggle in my heart and a smile on my face. even the dog is happier...
WOW…….my wife and I will be married 40 years in October. I can’t imagine my life without her in it. Don’t really know how else to respond to these comments…I feel sorry for both your wives. Especially your dead wife sir. ❤
@@user-yb5bg8im5g she probably died to get away from you!
My husband, with these traits, left me for a younger woman just after I made us debt-free and was about to pay cash for a home. Now I'm getting richer and richer and he's $70,000 in credit card debt at 30% interest. The creditors just called me looking for him. It was the worst financial decision he ever made for himself and the best financial decision he could have made for me.
My neighbor always made above 6 figures, even 15 yrs ago but always traded up into a new monster size SUV every 4 years. He's 53 and recently asked me for help about starting an IRA. I asked him about his 401K and he said he had quit making contributions years ago because of his mortgage. It's that easy not to save.
Hard to contribute if the mortgage takes everything.
@thebigpicture2032 Especially when you keep buying new big trucks every few years 😅
@@derwinmitchell9947 That’s a Boomer thing. Mortgages are too big these days for young people to buy big trucks.
I went into retirement with no mortgage and no credit card debt. I used the final 18 months prior to clear what little debt I still had, to skew my financial holdings towards less risky investments & to divest myself of unnecessary material possessions. Then I moved to a beautiful, far less expensive country to retire.
what country please
how is Zimbabwe
Americans dont understand
Where'd ya go?
Philippines joins the retire on the cheap chat
I am never going to retire because I don't have any interest in retirement. My grandfather was forced to retire at 65. He went right to the competition and hired on as an engineer and retired from that job at 85. He stayed active with his church and community up until the end. I like working!!!
Everybody gets to choose, that's the beauty of it. And even just the idea of "I could retire if I wanted to!" might make working just a little bit easier.
@@bob_frazier This exactly, I'm 65 and still working but it is a lot of pressure off that if I couldn't got to work tomorrow we would be okay.
Once you go, you lose your identity you had for years and many of your contacts.
@@bob_frazier This is so true! I wish that I was able to continue working full time at my current job, but my body is worn down. My employers are into hiring people who are 20 to 25 years old now and they are basically pushing the older people out the door! I don't like the idea of starting over again, just to be at the bottom.
Most people simply aren't able to work until age 85, even if they want to. It's crazy not to save/invest money with the idea that you won't be forced to retire at some point. Most people think they're going to work until age 67. Most of them don't make it. The typical retirement age is 62.
You need to do a video on people that can retire, but don't.
Why? I just met a 77 year old lady who works 6 days a week because she loves staying busy. As a new, fully retired 60 year old, I can't wrap my head around that. Forty two years of full time work was enough for me. To each their own.
I think that is a great idea because I expect I could retire soon but will not. My work is fun...so lower cost for entertainment. Extra retirement and living expenses money. Due to the extra money I can not only go to a pizza/pasta restaurant on an almost daily basis (my CHEERS...where "everybody knows my name") plus I have interesting things to talk about due to work, but I also am more in contact with coworkers and the coworkers I had previously due to participating in industry work groups.
I can occasionally help family members or visit them more often. I act like I won the lottery at work when I have to make difficult decisions (though I haven't won the lottery), so that makes work even more rewarding...just due to having marketable skills.
If I want time off to play (or just work from home) then I can. Why would I retire to volunteering to do that for free?😃
i can retire and ''have''.
i can afford to sit on the sidelines, ''ala travis mcgee'' and wait till 70 to collect.
''the government soaked me, i want to return the favor''.
@@gpdoyoni am with you. Retired almost 2 yrs ago. Just turned 60 last october. 40 yrs at UPS plenty for me. I do not understand WORK being a persons only option for staying “busy”.. i have Zero shortage of activities to keep me busy
@@MemphisMike901 Work isn't the only option for staying busy, but many other options can cost $$$, for example golf or travel. Many people choose work because it's a net inflow of cash rather than an increase in their expenses. And work is less stressful when you have the ability to retire, as you have more leverage to resist BS from management.
Your neighbor was a piece of work. I'm at a loss for words. Nice job staying calm and being polite.
Agree = once the neighbir changed from " NO hassle" = I would walk away
Agreed, lol
Between the liberalization of drugs and endless gambling promotions we are doing our youth a terrible disservice. We should be promoting financial courses in middle and high schools . The country's priorities are counterproductive
Totally true
Disagree. Our whole economy based upon consumer spending. It keeps inventory low, people working, and rich people richer. Spend spend spend! Wall street will love you!
I make my kids watch these with me! 😊
@amyyates8273
you are an awesome parent.
i hate to be morbid, but you never know what day youre gonna pass. so some wisdom must be passed down before the day its actually needed. and statically speaking, I'm not too sure how likely it is a parent will be alive while their child is entering retirement.
essentially how many parents would even be alive when their kids are in their 50s and 60s. (i generally say a parent is 20 years older, so thats a 70-80 year old. thats a high risk, but COULD be possible)
@@amyyates8273
my dad passed like 5 years after he retired. and he wont get to see my kids. neither did my grandfather get to see me. so I'm kinda baised towards early death.
so I'm like 30 years until my retirement age, and while i may not have LOTS of money going into it. i dont want to be OBLIGATED to work if possible so I'm glad my dad taught me about a roth, and saving up. Im still factoring all the costs that can hamper or help my retirment process.
I retired last year. I have been shocked by how many people, many of whom I respect deeply, have asked questions about it that reveal they are basically financially illiterate. This is a huge problem in the US!
See this all the time. I’m 64 and still working but only bc I have a great boss. Living below one’s means is essential to not having any debt and saving each paycheck
I was in the railroad industry for over 37 years. With railroad retirement you can retire with your full pension at age 60 with at least 360 months (30 years) service. I indeed retired at age 60. Also, I was one to always live within my means, so I was debt free upon retirement. One other thing, I never-ever made a time payment on a credit card. I always pay off my credit card bills at the end of the month and consequently my credit card companies pay me to use their cards with the rewards they provide (yes, I know, I'm known as a "dead beat" in the credit card industry).
But credit card companies are worse than dead beat you = they are thieves and butchers😮❤
That’s what we do w our credit card. We charge, write one check at end of month and, get points
Don’t worry they still make money off you.
@@jameswitte5676 I'm not worried as I know there are sometimes convenience charges.
That's me in 8 yrs and 6 months then railroad retirement
We paid off our house before retiring. It was the *BEST* thing we did before retirement. It is a huge weight off my shoulders, even with a low interest rate loan and only a few years left to pay it off. We had the money, why not pay it off and not have to worry about it anymore. Again, the *BEST* *BEST* *BEST* feeling! Do it!
It was an emotional high when we paid off our house. Our loan had been 3 percent. Peace of mind is something you can’t place a value on
I saw a meme the other day that said “why you should never retire” the picture was a cemetery.
My father had a fairly active job and a pretty good attitude. He’s 19 years older than my mother and few people realized he was even older than her. He lost his job when his cousin sold off the business when my dad was 65. He had no retirement. Within a couple years of being unemployed my father aged rapidly both physically and mentally declining. He went back to work eventually, but it was too late. He had aged 10 years in what seemed like overnight.
He’s 88 now and the Covid vaccine had its way with him, losing most of his vision, not being able to do virtually anything on his own and being stuck on one floor of the house.
The value of health is one important lesson he taught me by accident.
"When a man stops working, in a way he dies."
I was medically retired from the military after a spinal injury. Although I can't move as easily (I limp very bad) I've been getting back into making artwork and computer repair. Our economy sucks right now though.
I much prefer earning interest through stock investments vs paying interest through credit card debt!
No truer words were ever spoken.
same sentiments here.
i want POSITIVE interest not negative interest, especially in a world with an ever decreasing purchase power of the dollar.
Pay for the banker’s vacations or pay for mine? Easy choice.
My father passed away in 2000 and my mother in 2005. When my mother passed, I received a bit of inheritance. Nothing extravagant, but enough it help me out and have some left over. I went to an investment advisor, saying I wanted to pay off my house and invest the rest. No, no, no, he said. Invest it all. The interest I’ll earn will be greater than the interest I’ll pay. I left and got myself another investment advisor.
Definitely, that is why this whole getting out of the stock market in retirement to reduce risk is very questionable.
A good option is to move to Thailand-gyms/pools/younger women-healthy food-$400 month condo and walk to the 🏖️-no need for a car-calm/stress free
“Freedom’s just another word for nothing left to lose”
Written by Lightfoot and sung by someone who burned out early in life
@@hanksta34wrong - was written by Kris Kristofferson
🤘🤘🤘
Amazing😢
@@arthurbishop3173
Right, Kristofferson. If it was by Lightfoot, it would have been 3 times longer and boring. (OK, I’m not a Lightfoot fan.)
I love his screen presence. It's calm, wise and very matter of fact. We knew our expenses almost to the dollar. And they have proved so accurate in retirement!
My wife and I are military retirees. We moved around a lot. As a result, we don't have a mortgage that is near being paid off. Currently, our mortgage (from 2021) is at 2.25%, but we'll never pay it off (we're in our 60s). We overcome this limitation by having accumulated good Social Security payouts (which we have not yet taken), my two federal pensions--military and civilian, both being paid now--and a reasonably robust retirement savings (nearly a million).
We'll never have a paid-off mortgage, but we're trying to make that point moot.
Yes, but your okay as you have a large cash deposit of one million to off set your mortgage. Have a great retirement 👌
Why pay it off when you can earn 5% in a money market? If your guaranteed income pays the bills and cash flow isn’t an issue you are fine. Most people don’t have sufficient pension income to do that (I am a fellow Military retiree).
I could have retired 6 years ago. I just don't want to. I like having things to do every day, usually to help others. I go on mission trips, and I run my own company.
Mission trips? I hope you don't mean travelling to other countries to impose your religious views on them. That's so nineteenth century.
Outstanding Art.
YT deleted my comment because I'm critical of religion? What a world.
TT - “critical” or intolerant of people of faith?
@@hanksta34
If you’re critical of Tarantino films, does that make you intolerant of Tarantino?
There is another aspect. The fear of running out of money, coupled with, "I don't to know what I'm going to do when I retire."
Thanks Paul
I'm 67 & retired seven years ago. Filling the day can be a challenge at times.
I'm 65 and retired 3 years ago. Between grandchildren, church, travel, outdoor sporting activities, home repair projects, and hobbies, my days and weeks are quite full. I'm so glad that my previous employer began requiring the Government's COVID injections in late 2021. That was the catalyst for my retiring. No jab, no job. Okay. A Dios...
Concern ( not fear) of running out of money is my only obstacle left before Full retirement. Want to remain "independent" forever and am transitioning into retirement by working less year by year. Am 66 and will try to wait to collect sic sec at age 70, as long as health is good
@@Steve-gx9ot I plan to do the same as long as I am able to work and find a job.
I was never interested in retiring. Quit working but still make money was the goal.
Love it
Jeff is correct about whether a contract was in place. In most contract law, an oral contract is binding and enforceable. If you have an officer, acceptance, consideration from each side, legal capacity, and a legal objective, you have a contract. But real estate law is different, where the only things binding are what is in writing. Once the buyer changed the conditions, they killed the contract and made a new offer, which the seller was free to reject.
But look up Statute of Frauds -
I'm 42, I had the same mindset with endless credit card debt in my 30s. I made money, didn't care about the debt only paid the minimum, until I made a decision to finally pay all debts out, working to pay off debt rather than spend. I feel much better now that I have no debt owing to anyone!
Never carry cc debt. It’s the poison of any debt.
I STOPPED alcohol and limit to 1 escort once a week! saved $3k a week!
Good job! I limit myself to one bimonthly. The 8 ball lasts longer
You're life stories and advice / analogies are priceless!
Thank-you Geoff!
-Curt
Thanks Curt
I plan to never retire because I love working. If I die with extra money left over, it goes to my wife and kids, no problem.
First, I love your @name! Next sounds like a good place to be
Dear Geoff, Have not had a "budget" for the last 40 years! As a small farmer i never know what my gross income or expenses will be year to year. (However, i have not had any debt for thirty years either: that is, no mortgages, loans, leases; I always pay my monthly visa bill in full). My father told me at age 18 when i left home: "if you can't afford to pay cash, then don't buy it".
My bank said i didn't make enough money to qualify for a mortgage. I told her i would build a small house anyways, "one board at a time using cash". (took me 30 years). Am 76 and still working.
That neighbor was an a hole.
Lucky you don’t have that neighbor any more.
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
consider investment planning, learning from a well experienced advisor is invaluable
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
@@mariaguerrero08who is your advisor please, if you don't mind me asking?
*Gertrude Margaret Quinto* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
Great house selling story and a valuable lesson. I'm glad that it all worked out so well for you! Great video!
Your work is appreciated. Thank you
I would like to see a video on people who don't retire or retire later (say 70+) by choice. These are people who find work rewarding and/or switch to a second (third, ...) career later in life. I know doctors in their 70s who still do complex surgeries, sometimes for free, in 3rd world countries.
That neighbor and I have very different ideas of 'hassle free'.
Me too!
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $120k in a savings account that i want to invest in a non-retirement account. Where would you invest this as of now?
Research dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
I agree. Based on personal experience working with a financįal advlsor, I currently have $800k in a well-diversified portfolìo that has experienced exponential growth from when i started. It's not only about having money to invest in stõcks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "KRISTIN AMBER LANDIS" I've worked with her for 9 years and highly recommend her. Check if she meets your criteria.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Great video. Totally important to watch those numbers on a regular basis. I couldn’t imagine not tracking my retirement funds!
They don't have "Personal financial acumen," but they know how many homeruns every ball player ever made.
Thank you for video you and Dave both are a big help.
So Wise , Thank You . Remember to conster ALL of the costs.
Excellent video Geoff ❤
Thanks Jimmy
Good reminders Geoff!
Thanks Bob
good vid Geoffrey. the main concern for retirement is NOT how much money you have, it is how much money you spend. in fact, spending should be the main concern during your working life also. "spending" is the one activity most people can control but have the most problem with😊
Great content.
You went away on vacation with that situation tells me that you are a tough man. You are so awesome my friend I have been encouraged to become financially literate
Thanks for the great video, and story. I started a physical budget in 2017. And in months that I slacked off, I always overspent. People do not realize how much they 'overspend' on a daily/weekly basis without a budget. I have not had a car payment or CC balance in 5 years.
Very interesting 🤔
Thanks Jeff !!!
Riveting story. It will aid in our upcoming sale-offer of our home. Thank you {HS} for reasonable information. A solid show for sure.
Great information.
Thanks Joey
excellent video. i had many years of carrying CC debt until early last year. i’m about 4 1/2 years away from retirement and goal is to retire debt free except my mortgage.
Sounds good.
Any man who that has been saddled with a burden commonly as child support is sunk. The child support awards these days are excessive, punitive, unrealistic for the victim payer and crippling. For the recipient they are TAX FREE and rise in many states automatically with cost of living increases, even if the payer is not making more money. The payer victims cannot get a tax deduction for these punitive payments and they are often taxed at the rate of a single person.
Yes just dont get kids
@@turtleanton6539 That's right. Even though kids need both parents often times the Dad "just doesn't get the kids" because the Mom blocks visitation by using the kids as pawns. Very sad. And then they wonder this country is screwed up.
Property taxes. Never go away and never go down.
Never say Never. When you reach 65 in Florida- no more property tax!
I just got a letter from my county that property tax is going down. Idk why.
@@dzl8596 property insurance in Florida is the property tax everywhere else.
Agreed! I call my quarterly property taxes my "rent". :( Oh, well. All things considered, it's far less than what my mortgage was.
@@dzl8596 People over 65 do pay property tax in Florida. There are exemptions, but they are not automatic and they are certainly not blanket exemptions.
Good presentation. 👍
Thank you Dave
Interesting story!
Great video Geoff
Did you ever find out why they asked so much for the reserve on the septic system?
It was a weird one since the buyer is the one who puts the deposit in escrow. My guess is they thought that we were out of options so would capitulate.
"Wouldn't you like to be...my neighbor". Mr. Rogers. 😂😂
I just read an article on the 15 things retired people miss at work. My answers: No, not so much, No way, nope, never, very little, not so much and 8 no ways. Life is good Never waste a day having a bad day
So true, never once failed to pay off the entire balance on my credit cards every month. Paid off the house early. Paid cash for used or new cars every time. Retired at 60 with no debt. Loving retirement because I followed the same advice you give.
Interesting video, was more about your life story than title.
You really nailed it. Poor money management and discipline is one of the biggest failures too many people live to regret. You didn't skip any of the factors that need attention. Good info.
I retired in November 2023…life is great. No debt and receiving military and corporate pensions.
Nice😊
At first I thought this video was going to be about the personality traits of people who love their job so much they can never bring themselves to retire.
and what do you think now
I'm a 50 year old doctor feeling burnt out from long hours and stress. Never invested before, cos the stock market seems to eventually crash, however I'm curious, I have $ 250k to invest over 4-5 yrs before retirement, what would be my safest picks to grow a $ 1m portfolio?
Agreed, many people discredit the use of advisors when planning for retirement until it's too late. Thankfully, for 5 yrs now, I’ve had a licensed advisor steadily restructuring my portfolio from quite a lump sum invested to about 10% shy of my 7figure goal as of today.
ambitious! mind sharing info of this person guiding you please? truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor
I take guidance from ''Karen Lynne Chess'' a renowned figure in her industry with over two decades of experience. I'd suggest you research her further on the web.
very much appreciated, curiously inputted ''Karen Lynne Chess'' on the web, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
nothing much you can do with that little money and that short of a timeline. keep working till you are 65.
American politicians never retire 🙄
WOW that’s was a lot of content for one video….i can’t even comment until I soak this all in. 🌵❤️
I'm pushing 80 and I figured all this out at 18 years of age! Carelessness is one example of stupidity.
you figured it ALL out? impressive. what is the rest of what you figured?
@@DrSchor Living in extreme poverty gave me the opportunity for quiet thinking without distraction. Working for a wage is the equivalent to giving your life away, regardless of how much you earn. Your life is finite but money is endless therefore your time is the most precious thing you possess. Spending more money than necessary for survival is giving away the moments of your life you worked to earn your money. I vowed two things, never give the IRS a dime more than required, and design my own life. There's much more but this was the foundation from which I made decisions that allowed me to fulfill my dreams and goals. Thank you for giving me the opportunity to share.
@@KarenBradford-rl2ooyes
Wow! I’m so glad I workout. I want to maintain my good health for as long as I can.
Im retired at 58. Construction worker. 😅
I agree with everything....except about carrying a mortgage into retirement. We bought this home right as we were ready to retire (12 years ) with an interest rate of 2.89%. Once we purchased and remodeled the new home we sold our existing home and netted enough to pay off the new mortgage but decided not to.With safe investments I have been earning slightly less than 6% in recent years and never below 5% and would have had more "stress" knowing that I had "left money on the table". I do have an extensive financial background so that might give me an advantage.
6:00 AMEN BROTHER!
Thank you
I ran an oilrefinery, and that sure looks like one in the opening!
Simple straightforward finances vs. Nickel and diming (is that the right American expression) has a lot to be said for it, retired or not.
To be fair, many advisors advocate not looking at your investments so you're not tempted to make short term decisions. I also don't like budgets, they're miserable and are nothing more that a rough plan as you can't predict exactly what may come up. I prefer just spending as little as possible by finding better alternatives as it creates the maximum savings and it's a lot of fun too. For instances, someone was complaining to me recently about how they wanted to buy a 1.55oz Hershey bar at a convenience store but it was $4, although they still bought it. I know that the best price at the grocery store is $1.29 which is quite a savings. However, I buy semi-sweet chocolate chips when they're on sale for $1.99 and a 1.5oz serving is only 25 cents. Lately I prefer having 1oz which is just 17 cents and still enough to satisfy since they have almost 4 times the cacao of a Hershey bar and taste far better. The really funny part is that the cost of the 1oz chocolate chips is actually less than the sales tax alone on the $4 convenience store candy bar. The bonus is that I can enjoy chocolate while saving money, calories, carbs and with the chocolate chips and Dutch processed cocoa powder I can make anything chocolate. Now imagine doing this with everything.
Some of the semi sweet baking chocolate tastes better to me and seems of higher quality than the common brands candy bar chocolate. Not sure but I don't know if the famous brand chocolate bar is still made at Hershey Pennsylvania.
@@davidpowell3347 As I recall a Hershey bar has 11% cacao and semi-sweet chocolate chips have 40% cacao, so quite a bit higher in quality.
knowing your monthly bills as well as annual bills such as insurance and taxes is a very good thing and lets us sleep without issue. paid off house and cars is wonderful.
We managed to get our wants so much in line with our budget that I can’t tell you how much we will spend this month, but I can guarantee, we won’t be overspending. Last month we overspent by the cost of a car, that we’d planned and search for for about 3 years!
Hi! Thanks so much for all the great advice you provide. Would you please do a video about long-term care insurance? I've received a few quotes and for an 5000 a month benefit, it would cost about 800 a month for 10 or 20 years (depending on other details). For an 8k a month benefit, it would cost closer to 1200 or 1600 a month. It's all very complicated and confusing and I'd love it if perhaps you did an interview video wth a LTC insurance expert to explain pros, cons, terms, what's usual, what's not, what to look out for, when to buy it, etc. Thank you!
I'm sure going through that house sale issue with your neighbor was annoying! I was getting annoyed for you during that story 😆 Thanks for the great tips 👍
The good thing was that they were not going to be neighbors for long.
From hassle-free to hardball almost overnight - so glad this blew up in your neighbors' faces. I'm sure they watched some YT videos on how to negotiate and figured they had the upper hand. Jeff is a soft-spoken guy so sometimes that's interpreted as weakness - but clearly that's not the case. 😆
Good move, doing the same here, but staying put
I congratulate you on your ethical standards 🙂👍.
My credit card company sent a letter stating they were to "audit" my account because I was not using the entire credit limit and wishing to reduce it. I had to phone to "opt out" of the audit keeping my limit. I have a suspicion my CC company does not like me as I pay off what is owed every month AND take advantage of the cash back to reduce the payment required. I guess in a sense I am not their "most wanted" customer because they lose money with me. Oh well, my only long term debt is my mortgage and I intend to keep it that way.
When they start playing games like that, I recommend shopping for a new card. You will be canceled soon, not that it matters. Plenty of options out there!
Excellent vid, I'm months away from retiring no mortgage and only a small payment on a small car which I intend to pay off asap.
My biggest concern is healthcare and/or extended care.
I always have a budget laid out for the month. I had a friend who didn't. He just whipped out some plastic to buy whatever frivolous item he just had to have that month. He bought boats and exercise machines for a bundle and then sold them 6 months later at a 60% loss. He and his wife had 7 credit cards between them, all maxed out. Needless to say he went into bankruptcy. Never did change his ways though.
2018 I was 56.
I made $2300 a month take home
I had $11k cc debt
I was Paying $400 rent
I had no savings. I was horrible.
2024 I am 62.
I make $4200 a month take home (pension)
I have $0 debt at all
I have home paid off.
I have $60k in savings
Sometimes, it's not an option to keep driving when you are retired. It's cheaper to take mass transit in the city. And the OATS bus in Rural America . Of course, car pooling is also an option .
Thanks Joyce
I'm still working at part time. Friendly people at work and I get paid. Rewarding work in a hospital and it's interesting too.
So what about those of us cleaned out by the ex-wife?
She got everything plus eight years of alimony, leaving just enough to live on
Enjoy your freedom! No money is worth living with a miserable person, praise God
We went camping the first week our home was listed. So we did not respond to the first offer we quickly got. It allowed us time to get some other offers in before responding. Works!
Outstanding
Youve perfectly described my 75 year old mom
Retirement planning can be quite overwhelming, especially when it comes to choosing the right investment options.
Focus on gaining income (dividends) to generate cash flow from your self directed IRA. There are plenty of decent options including treasuries right now. Leave your principal alone and just tap into the dividends when you need cash beyond your social security, any pensions or annuities. It’s very important to have a budget. Monitor every $ spent. It’s not as difficult as it sounds. Tune out the commercial advisors. Get a good CFP if you don’t understand investing or get educated and do it yourself. Make wise choices regarding Medicare and live within your means.
We just replaced our 2002 minivan with a new minivan. We spent a long time figuring out which of the 2-3 vehicles that still had spare tires, had the fewest annoyances. Not sure buying a few years older would have worked, it certainly wouldn’t have been calming!
Acquaintances I know who can’t retire, never planned for a retirement. They had a lot of fun throughout the years…
I’ve done a lot of traveling since my high school days and I’m 66 years old now and still love to travel but I recently received a diagnosis of early dementia. So, I need to get busy and do what I can now. I live in Charlotte North Carolina, and I’m having the urge to hop on plane from Charlotte to Paris.
I know that there are some individuals and couples that have enough retirement income to begin their retirement with consumer debt and a mortgage. But I don't understand the thinking that just because your income is enough to pay your expenses and debt payments that it is a good idea to retire before all that debt is gone. For the average Joe I don't see how they can enjoy themselves with the stress of debt. In speaking with a friend, we touched on the issue of how much is needed in retirement investments to have enough money not to worry. When I mentioned that if you use the popular 4% rule and have one million dollars saved, that will allow you an annual withdraw of $40K. That is not rich. So, then the discussion moves to "well I cannot ever have one million in savings so I might as well be broke and have fun while I can." There seems to be no shame in being broke in our old age.
My uncle died in poverty in a Medicaid nursing home covered in his own filth. I wouldn't wish his last years of life on my worst enemy.
There's an old saying. Money talks, B.S. walks.😊
So true!
Financial Literacy should be taught in highschool. But it's not. Ever wonder why...
The government prefers the population to be in debt. Desperate people tend to follow orders when given.
Teach Compounding!
To me that is huge!
Financial literacy and other things like reading, math and writing literacy should be handed down from a parent. Can’t blame the government and school system for everything. I worked in the high school system and unfortunately the children didn’t behave, so they didn’t learn. My parents (may they rest in peace) taught me lots of things about money. Saving it, understanding the value of a dollar, where it could get the best interest, how to write a check, balancing a checkbook and other necessary things one needs to learn to survive. Hard for me to understand the “young people” taking selfies all the time and looking at their phone and not engaging in normal social behavior. I’m just old school.
Me and my husband are retiring in ten years he has a two pensions coming to him one is a state pension 😊 I too have a pension coming so with our three pensions NO credit card debt no car payments no children we will retire relaxed freedom no worries 😌 I can’t wait 😊
Nice job
I'm not intuitive about money so something that has helped me with debt is to divide out the principle and the interest on any debt I don't pay in full. It makes me pay attention to the interest. Owe a $1000? I'll pay $200 principle and then add the interest.
I never expected to live to retirement, as all my friends had passed away before then. All of asudden, I'm 55 years old ! YIKES!! What to do? I found a financial advisor who told me to get rid of ALL my debt, BEFORE I would retire. I had enough time to do that and I paid off all debts. I lost my job at 62 years old, do to the economy.. There aren't many jobs available to senior citizens. Then, my apartment rent went up and other expenses as well. I wanted some security in this retirement time, and the Veterans Admin offered me a 2.6 % home loan!! Minimum down and a few closing costs. ($1500) I'm now 76 years old, living in my own home, and paying the few bills I have with my Social Security and VA checks.!😄
That neighbor - wow. I honestly don’t think I would have trusted them after the lowball 85% offer. People like that are not worth the time.
I hear you