My dad literally dropped dead at 52 (the day after I left home to start University), so I had always planned to retire by 55. I knew from then that life is too short to spend it all at work. Made it to retirement at 54 (five years into it now) and couldn't be happier. I always had well paid jobs and a good career but only ever really enjoyed the people I worked with...work itself was always a means to an end. Much happier and less stressed without a big corporation to impress every day and we are now travelling as often as possible to make good use of the GoGo years!
Hi Daniel, that is a sad story about your Dad, sorry to hear that. It's good that you are living the life you want to, I am sure your Dad would be proud of you. Keep on doing your thing!
The key is expenses. Low expenses, low amount needed for retirement. I have only averaged $100,000 a year over the last three years. Home paid off and no debts.This is less than 1% of my portfolio. Did all major work to my home back in 2020, new roof, siding, paint, along with renovating the bathrooms. Can get a fully subsidized ACA plan, keep my AGI in the 12% bracket and still live the life I currently do as a successful business owner. Just gotta keep that "Just one more year" voice out of my head. Retirement date, April 30th 2024.
I can relate to the temptation of that 'Just one more year' voice, but your determination to stick to your retirement date is admirable. I understood the importance of seeking guidance. Because I lacked knowledge in managing investments and used the help of an advisor LiLY ADDISON YONAMINE, I've seen my portfolio grow by around $700,000. Now, I feel confident that my retirement is under control, and I even have enough money set aside for my daughter, who just got her degree. Wishing you continued success on your journey to financial freedom and retirement!
@@michealrealtor Thank you for sharing your experience, and I'm genuinely happy to hear that things worked out well for you. It's reassuring to know that there are success stories out there.
I'm getting close to retirement age and have about $500k to plan with. It feels like time is slipping away to make sure I'm set for the future. Thanks for mentioning your advisor's name. Hearing how well your portfolio has grown makes me think she could really help me too. I want to make sure I'm doing right by myself and my daughter.
Hey guys, thanks for posting. So often with retirement youtubers they quote or refer to hugely expensive and inflated ideas/goals for retirement, but your quite beautifully positive messages about smiling or being helpful etc. are tremendously grounded and positive. I'm by no means a wealthy chap, but since covid I have analysed my positions, screwed down on costs (this is a big one: no expenses means you can exist on a smaller income) and been part-time. 2024 is the year I'd like to down-shift to something very different. Thanks for posting
I'm going to turn 55 next month, retirement can't come soon enough. Unfortunately, I never thought about retirement until the last few years so haven't saved much or invested much. But I'm determined to find a way of getting out of this rat race asap. Thanks for the inspiration.
Love this guys! close to retirement and feeling a bit of fear, but so done with working after 43 years and you have given me the inspiration to move on, with me or “us” as our new priority. Thank you 🙏🏽
I enjoyed my career but I like retirement better. I just wish I had saved more or learned how to invest. Now age 63, I don't have a lot of money but enough to live comfortably. After working hard for 40 years and raising 4 kids, my father retired at age 59 and died 6 months later. I vowed not to let that happen.
Hi Linda, Seeing so many stories of people that retired and then died soon after, shocking and so sorry to hear you have experienced the same. You know we love having you here, you are living the right life for you and your Dad would be proud of you.
Like you, I never really enjoyed my job, so I took the plunge and retired at 55 last year…best decision ever. I am so much happier now. I had a well paid job but I was time poor…much better now having time to do things I enjoy. Sure I don’t have the money to eat out all the time now, or get a shiny new car every other year, but I’m enjoying the simple things in life, like a walk in the country, tinkering around the home and garden.
This man gets it! We did same, little younger than you but took the plunge. So far, so good. Where did we ever get time to go to work? I am so busy doing things that interest me.
Thank you for another inspiring video. Love that you don't try and "sell" anything and the ideas and views you talk about are your own. Looking forward to the next one. Jon
Hey Jon! Wow, that is incredibly generous of you for the 'Thanks' and the kind words. Many people don't seem to realise that we have in the time of having the RUclips channel refused more than 200 offers of Sponsorship, an area where we could significantly increase our income. Thank you for noticing and appreciating it. All the best Neil & Sarah
Definitely record an album if you can. I did this recently (as Busker's Dog). I'm not quite retired, but am considering my options. Thanks for this video.
Regardless of the many jobs I had through my working life, my mantra was work to live not live to work. From 54 to just short of 61 I was in my best paying and most enjoyable job so when I was made redundant it was a massive kick in the teeth and impacted the saving plans I had in place for retirement. Fortunately I had cut down on expenses so we could manage on half of what I had been earning. I had used inheritance to buy property and was saving the rental income. I retired Nov 23, 3 months short of 64 and don't miss work one bit. Have restarted the gym 3-4 trips a week, cardio with some weights for toning, mixed with Golf 3-5 times a week. I had planned to retire April this year anyway. the next 24 months sees a work pension then state pension kick in which should provide a better income than I had in my last job. More time for the grandkids, one of which is in the USA, currently in the honeymoon period and loving it.
Time and health are the main considerations for me. I enjoy activities that require a fair bit of fitness and physical resilience so I feel a sense of urgency to do those things before the limitations of age kick in too much. I started working part time in my mid 40s and that emphasises to me the value of being in command of more of my time. That has turned out be be one of the best decisions I have made as it is gives me a taste of what retirement could be like. The less I have to work the happier I get. Life is too short and I have seen friends and family who never made it to old age.
Great video guys. We see a lot of ourselves in you. We have just both left great careers, probably at our peak... and left possibly many high earning years behind, in exchange for "the time we will never get back". I get that most people can't afford to retire, heck some of them even at pension age. That is just the way it is. But if you can manage the way and wrap your head around it, you would be a fool to keep slogging on. YOu may never live to see it. We can always go back to work if we had to.
Well done Neil & Sarah! Another thoughtful and insightful video. So many of us let time drift on, without being mindful that we only have a limited supply. As human beings we are adaptable, and can adjust our lifestyle to the money we have. Write your own mission statement, actively live your dreams, and live an intentional life! David K
Interesting. Im not a manager thats just my job title is what i say. Also i don't have a bucket list because i did everything and went every where i wanted to when i was younger, best advise my dad gave me. Coming up to 60 and thats work over for me. Looking forward to a new challenge of just being me for me.
I really appreciate your content and the fact that you share so transparently. My wife and I are only a couple months away from my retirement. (My letter is already written.) Keep on keepin' on!
I made the decision April 23 that I would retire at the start of the next tax year, April 24. I found it really hard to maintain any motivation to do the role I had as I wasn't enjoying the job at all and found myself ticking the months away, with others I was made redundant in November 23 it was a release, I knew financially everything was in place and one of my sons is a financial advisor so plans had been double checked. Like many I guess I'm spending a bit too freely but as yet to draw down from the first true DC pension pot I'm consuming other funds such as redundancy payment. Hope you enjoy your final months and the time after.
My father also struggled in retirement and ended up going back to work. Your message here is very important! I really like the book “Designing Your Life” by Burnett and Evans (there are videos too). Retirement is a chance to redefine yourself, as you said!
Haha funny, fortunately for me I worked with some amazing people that will be friends for life. Sadly the work was futile and that was too much to deal with for so long. Cheers, Neil
I always reminded people that didn't like their jobs that they were free to quit and find another one more enjoyable. Shockingly, most never left. They were married to the misery by a short sighted way of thinking about life.
Great video, I hope this and some of the others on You Tube awaken others on how to plan and get finances in place for retirement, I think one of the benefits of auto pension enrolment is many more people will see by the time they are 40 the size of their pension pots, and realise how they can really boost them to get out of working until they are 67 or so and the state pension
I’m loving your new channel! ! It’s informative and entertaining. “How would you like to be remembered?” is an EXCELLENT question to consider! Thank you Neil and Sarah 😊
I love what I do for the most part, but if I had 10 million I would definitely NOT keep doing it!! I would definitely be on the move. first see my country. I have not seen but a fraction of the U.S.A. and I have always wanted to go to all the National Parks and some out of the way places that I have seen in videos. Then travel around Central America, South America and maybe eventually Europe. Go to some great Yoga getaways and cruises across the Atlantic and maybe around the world! Grab my grandkids one at a time and take them on some epic adventure so that they don't have the dull life experiences that I had growing up and young adulthood. My fear is that they will be doomed to it. I want to change that if I can, and if they are open to it.
I cannot wait to stop. I have so many projects and interests I want to explore. Interesting how many in the comments have lost a parent who didn’t make it to retirement or barely. I did too and it certainly shaped my belief I don’t want to work one day longer than necessary.
This one will change someone's life. Guaranteed. I love the 3 mission statement examples you gave and Im going to use them. Hmmmmm maybe its MY life that will change!
Hi Robin, if we are able to help people to think differently then we feel like we are winning. It is good to just take a moment to stop and think isn't it rather than keep ploughing though life.
Was talking to a work colleague about retirement.He told me that the oldest client his dad whom is a financial advisor has is 72 years old. Some thought that retirement age is 67 and you slog all your life for such a short time in retirement.
Hi, have recently come across your videos and have been watching because my husband has declared to me and his employer that he is retiring in 18 months at the age of 63. There is a plan to buy a motorhome and travel, which we are both excited about. The main concern is finance! May I ask how much time do you expend on your channel, how long did it take before you starting earning from it? Sorry for the slightly personal questions, but it is something that we might consider. Thank you Debbie
This is my last year. Same conclusions as you have mentioned. Time and health is more important now than more money. We love to travel too and plan to spend 3 to 4 months away from home in the first several years into it.
I've been working 32 years now & I hated all of those 32 years, I've now decided to work for myself & start a RUclips channel amongst other projects with my wife who survived cancer in 2019, I'm 49 this month, time is the biggest commidity now
That’s so funny. I feel you read my mind. I am one if these „one more year and then I will decide again“. I simply fear that the money will not last because it‘s 8 more years until I get pension an then the pension will not be enough for a living. Means I need some money on the side for this time as well. And the world is so unstable at the moment which also scares me …
Hey Sonja and Annie, we feel your pain!!! There are answers to your questions and hopefully in time our videos will do that for you. You know in the last video we spoke about Dave Ramsey and also comparing to the 4% rule. The big issue with those is the lack of flexibility. That inflexibility will lead people to look at the drawdown strategy and apply their numbers and think... Too scary! It could all go wrong. We will be talking about being dynamic with drawdown soon and when we do, we think you will find that interesting. We are trying to work out a way to articulate that message in a way that is easy to consume. Once we have that sorted, the video will be made. But again... totally understand your fear. Fear is healthy!
Mine is one more week, however I have already written my resignation letter and will be handing it in this Friday 24 May 2024 , and only giving two weeks notice because I can lol 😂😂 A colleague at work is trying to get me to go part time and it is not for my benefit but hers - she said if I leave she would have to do more work. That made me decided sooner rather than later.
Thanks for another great video. I think for many people, it’s not having enough money to retire that make them work for so long and others as you said think of work as their identity. If I had the money, I would retire tomorrow to travel. I’d love as a next video one that would work more on the financial of how to calculate when you have enough money to retire.
Hi Anne-Elisabeth. In time you will see us getting around to all of that. We want our channel to help people before, during transition and also in retirement. That being Financial, Philosophically and Practically. Hope you find it useful as we release them.
I think you would be surprised how many people slow travel and are over 60. I have travelled on and off for years solo and I am over 60. You build confidence in travelling and meet so many interesting people. Once you get used to landing in a place figure out how to get around it becomes easier. My advice go for it otherwise 2-3 years will go by and you will regret it. Do research before you leave and use Agoda to book accommodation for the first 2-3 nights and then look around on the ground and find accommodation to your liking. Good luck!!
@@carlmay8314 thanks for the advice...I holidayed solo over 45 times but going for extended stays is different but the longest journey always starts with the first step
Brilliant advice Carl. We sadly can't speak for people who are solo traveling but if we were to add something here... I would say if you have the skills and resourcefulness then the only thing to manage is potential loneliness. If we were single (we discuss with each other what would we do if we lost our partner), we would be looking to make good use of Hostels as that would be a great place to meet people. Smudge, with your extensive travel in the past, you sure have the resourcefulness! Wish you all the very best with whatever you decide to do.
There are digital nomad cruises where people that want to work from anywhere as a digital nomad go on a cruise to meet other like minded digital nomads who also work part time remotely from anywhere
Can you do a video on how much you retired on and how your accounts are going now? Are you invested to grow your wealth or drawing down? I’m not sure because we never get the full story
Great video. So true. My father never made it to enjoy his retirement. Joey’s father retired, but had to wait two years for his mother to retire, and sadly died of a heart attack within a year. Both had so many plans that they never got to realise. When we reached the end of our two years parental leave with the small human, the idea of going back to work and missing out on that time was so depressing and demoralising that we looked at our long term savings and decided to delve into them early, because it’s time we’d never get back.
I took voluntary redundancy at the start of the year, £75k package and a £31k db pension at 55 years old with no reduction as I went following redundancy. Been off work a month and feel lost without work….🤷♂️
Try volunteering, join the local U3A, learn to play Saxophone 🎷 join Men in Sheds….join MeetUp. I’m soooo busy 5 years into retirement and always trying new things.
@@BoninBrighton I’m back working feel happiest behind the wheel sad as it may seem. Will look to find a compromise as I go working too many hours just now but will go with it for now…
More important than one more year...that's the decision, the clarity, the understanding of what you want to do. This is a giant hurdle for more if not most...thus falling back on one more year is what they do. Impotent? Inertia? Lack of imagination? You two have achieved escape velocity. Most don't
Inertia is a huge one... taking the example of one more year.... it is easy to just kick decisions down the road, just one more day and never get to it. We hope that from time to time our videos can be a wake up call to stop kicking the can and start to think about what comes next. Appreciate the kind comment.
I retired last Spring at the age of 55. I had a great start achieving a lot and felt rejuvenated. However, I have struggled during the uk winter months with a lack of identity and filling my time. To a point where I’m now looking at going back in employment as the thought of another winter is already starting to play on my mind. I know i shouldn’t feel this way but find it hard to change my mindset? 🙁☹️
Oh one more year syndrome is so me - though I went part time last year as a transition stage. The PLSA Retirement Living Standards suggest £34k a year for a couple to have a moderate income in retirement and having carried out Monte Carlo simulations, I need to do one more year part time to achieve this. I do wonder if I over analyse this in fear of not having enough.
Tricky one Rob, only you will know the answer to that. We were the same though, working through numbers late into the night for years before we pressed the button. Going part time seems a really good move though.
In the uk it is getting hard to believe that the state of finances are ever going to get better. Since the general election we have tax tax tax Labour in power so even the ones that have savings are worried because if you are not on benefits you are seen as the government t cash cow. They are already targeting pensioners.
Hi Dan, Good question, we get that a lot. We said 10 years because we wanted to set a target that we would have to hit for ourselves. We discuss it regularly and at the moment are feeling confident that if we have our health we won't change course for 20 years. We really are loving this lifestyle.
If only 1 in 10 people are healthy when they retire, how can 25% be healthy at the age of 70? I think I made a good career choice. After a year at university I've done a succession of fairly short term jobs with increasingly long breaks between them. My philosophy has been to live as cheaply as I can whilst saving and investing. The longest I have worked is 9 years; and that job I really liked. I had to tell myself though that it was completely dominating my life, and, crucially, sooner or later, we're all going to die.
John, quite correct. We shared details from the Office of National Statistics and a report from the Financial Times in this video. Cornish - Like your philophosy. If we can live on less and invest the future will be better. Many people want to impress others by buying things they don't need. Crazy world we live in eh.
Time waits waits for no man or woman...! We agree on something...! May I ask you both a question ... Have you released/drawn the equity on your pension as is possible at 55 if im not mistaken and what are your thoughts on this, im wondering as Im contemplating releasing my pension at 20k a year into a stock isa and investing it yearly.
Hi Julien, that is a really good question and something that we are considering (I, Neil am now 55). For us we have the slight complication of having a small income from our RUclips channel, meaning that come the end of the financial year, we don't really know how much we have earned and what the delta is between that and the available amount to draw without having to pay Tax. If you don't have those complications, taking from your pension and putting into ISA is a good idea, as long as you don't plan to be funding your pension any time in the future. Once you commence Drawdown, the amount you can pay in each year is reduce significantly.
Too many people work for money eg an hourly rate etc The wealthy buy assets which they rent out or lease out which produces cash flow so they don't need to work for money Most people could retire early if they learnt how to day trade the stockmarket from their phone
Hi. Just a heads up regarding the sign up under your last video. I did it but never received any link to the spreadsheet you were using. Perhaps a problem with whatever system you are using? On the subject of wasting time. Although it may seem that way, I think that all we have ever done has culminated in the person we are today. A different past would have led to a different present. It all involves learning.
Actually, I just signed up again and it accepted me even though I used the same email address (no message saying already subscribed). Perhaps I messed it up somehow last time?
We'd say that Traveling is where we are rather than what we do or our purpose. As with the comment above to Dan. We will be traveling for longer than 10 years all being well.
@@2GoRoam I retired 2 years ago at the age of 54...I still worry about finances from time to time, but my health has improved immeasurably, I stopped drinking, lost weight and I am in better shape now than I was at 30 years of age... Thank you for a great channel.
And say "Better the devil you know" There's a fear that older people won't find employment. As baby boomers retire there's a labour shortage, at least in the UK.
Also, working one more year doesn’t mean you’ll have MORE money at the end of that year. My husband’s company laid people off and he got a severance package. Our plans were that he’d have worked 5 more years. I had my own business and he came on board with me to work together those 5 years and then retire. A series of events happened:Our homes value dropped because interest rates went up. The business suffered with low sales through Covid. We had to replace a 30k roof on our house. The stock market took a huge dip. At the end of those 5 years we actually had a lower net worth than at the beginning. Our plans were to retire to a lower cost of living country. We’re 8 months in to our retirement and we found our country. Our cost of living is low enough that we’re now saving more of our social security checks than we were able to save from our paychecks, with an even better standard of living. We really didn’t see that coming. We’re not really early retirees though. I’m 62 and he’s 71. We’re having a blast. We’re both in the best shape we’ve been since our 30s. Our “purpose” now is daily exercise and the Mediterranean diet and learning Spanish.
My dad literally dropped dead at 52 (the day after I left home to start University), so I had always planned to retire by 55. I knew from then that life is too short to spend it all at work.
Made it to retirement at 54 (five years into it now) and couldn't be happier.
I always had well paid jobs and a good career but only ever really enjoyed the people I worked with...work itself was always a means to an end. Much happier and less stressed without a big corporation to impress every day and we are now travelling as often as possible to make good use of the GoGo years!
Hi Daniel, that is a sad story about your Dad, sorry to hear that.
It's good that you are living the life you want to, I am sure your Dad would be proud of you. Keep on doing your thing!
The key is expenses. Low expenses, low amount needed for retirement. I have only averaged $100,000 a year over the last three years. Home paid off and no debts.This is less than 1% of my portfolio. Did all major work to my home back in 2020, new roof, siding, paint, along with renovating the bathrooms. Can get a fully subsidized ACA plan, keep my AGI in the 12% bracket and still live the life I currently do as a successful business owner. Just gotta keep that "Just one more year" voice out of my head. Retirement date, April 30th 2024.
I can relate to the temptation of that 'Just one more year' voice, but your determination to stick to your retirement date is admirable. I understood the importance of seeking guidance. Because I lacked knowledge in managing investments and used the help of an advisor LiLY ADDISON YONAMINE, I've seen my portfolio grow by around $700,000. Now, I feel confident that my retirement is under control, and I even have enough money set aside for my daughter, who just got her degree. Wishing you continued success on your journey to financial freedom and retirement!
@@michealrealtor Thank you for sharing your experience, and I'm genuinely happy to hear that things worked out well for you. It's reassuring to know that there are success stories out there.
@@michealrealtor After doing some online research, I learned that she's got a lot of experience. It's good to know she's well-versed in what she does.
I'm getting close to retirement age and have about $500k to plan with. It feels like time is slipping away to make sure I'm set for the future. Thanks for mentioning your advisor's name. Hearing how well your portfolio has grown makes me think she could really help me too. I want to make sure I'm doing right by myself and my daughter.
"only averaged $100,000" - you realise that this makes you fabolously wealthy by world standards?
Hey guys, thanks for posting. So often with retirement youtubers they quote or refer to hugely expensive and inflated ideas/goals for retirement, but your quite beautifully positive messages about smiling or being helpful etc. are tremendously grounded and positive. I'm by no means a wealthy chap, but since covid I have analysed my positions, screwed down on costs (this is a big one: no expenses means you can exist on a smaller income) and been part-time. 2024 is the year I'd like to down-shift to something very different. Thanks for posting
I'm going to turn 55 next month, retirement can't come soon enough. Unfortunately, I never thought about retirement until the last few years so haven't saved much or invested much. But I'm determined to find a way of getting out of this rat race asap. Thanks for the inspiration.
Love this guys! close to retirement and feeling a bit of fear, but so done with working after 43 years and you have given me the inspiration to move on, with me or “us” as our new priority. Thank you 🙏🏽
Excellent. Thank you for letting us know!
I enjoyed my career but I like retirement better. I just wish I had saved more or learned how to invest. Now age 63, I don't have a lot of money but enough to live comfortably. After working hard for 40 years and raising 4 kids, my father retired at age 59 and died 6 months later. I vowed not to let that happen.
Hi Linda,
Seeing so many stories of people that retired and then died soon after, shocking and so sorry to hear you have experienced the same. You know we love having you here, you are living the right life for you and your Dad would be proud of you.
Like you, I never really enjoyed my job, so I took the plunge and retired at 55 last year…best decision ever. I am so much happier now. I had a well paid job but I was time poor…much better now having time to do things I enjoy. Sure I don’t have the money to eat out all the time now, or get a shiny new car every other year, but I’m enjoying the simple things in life, like a walk in the country, tinkering around the home and garden.
This man gets it! We did same, little younger than you but took the plunge. So far, so good. Where did we ever get time to go to work? I am so busy doing things that interest me.
I was made redundant at 53 … earlier than I had planned to stop, but hey, once I was out that door there was no returning! The world is my oyster 🙌
Really like the "what do you want to be remembered for" section... thought provoking.
Thank you for another inspiring video. Love that you don't try and "sell" anything and the ideas and views you talk about are your own. Looking forward to the next one. Jon
Hey Jon! Wow, that is incredibly generous of you for the 'Thanks' and the kind words. Many people don't seem to realise that we have in the time of having the RUclips channel refused more than 200 offers of Sponsorship, an area where we could significantly increase our income. Thank you for noticing and appreciating it.
All the best
Neil & Sarah
Im only 39 but your channel is an inspiration to me. I'm praying (and planning) that I can retire or at least go part time before I'm 50 🙏 Thank You
Ive been binge watching a bit of your channel to catch up.
Thanks very inspiring 👍📺
Definitely record an album if you can. I did this recently (as Busker's Dog). I'm not quite retired, but am considering my options. Thanks for this video.
I stumbled across your channel… so what I needed to hear today. Some thoughts to ponder.
I quit my job at 47, now more than 2yrs not working I don’t miss work at all, I rather read books and watch RUclips😃😀😃😁
Regardless of the many jobs I had through my working life, my mantra was work to live not live to work. From 54 to just short of 61 I was in my best paying and most enjoyable job so when I was made redundant it was a massive kick in the teeth and impacted the saving plans I had in place for retirement. Fortunately I had cut down on expenses so we could manage on half of what I had been earning. I had used inheritance to buy property and was saving the rental income.
I retired Nov 23, 3 months short of 64 and don't miss work one bit. Have restarted the gym 3-4 trips a week, cardio with some weights for toning, mixed with Golf 3-5 times a week. I had planned to retire April this year anyway. the next 24 months sees a work pension then state pension kick in which should provide a better income than I had in my last job.
More time for the grandkids, one of which is in the USA, currently in the honeymoon period and loving it.
Time and health are the main considerations for me. I enjoy activities that require a fair bit of fitness and physical resilience so I feel a sense of urgency to do those things before the limitations of age kick in too much. I started working part time in my mid 40s and that emphasises to me the value of being in command of more of my time. That has turned out be be one of the best decisions I have made as it is gives me a taste of what retirement could be like. The less I have to work the happier I get. Life is too short and I have seen friends and family who never made it to old age.
Good idea to do the Part Time thing as that is giving you a lot more control over your life and time. Keep on going, you're doing things right.
I’m going to steal that quote Neil. The one about time flying. 🤙 safe travels.
Ryan, it's yours for free mate. There is no better pilot we can think of than you!
Great video guys. We see a lot of ourselves in you. We have just both left great careers, probably at our peak... and left possibly many high earning years behind, in exchange for "the time we will never get back". I get that most people can't afford to retire, heck some of them even at pension age. That is just the way it is. But if you can manage the way and wrap your head around it, you would be a fool to keep slogging on. YOu may never live to see it. We can always go back to work if we had to.
Well done Neil & Sarah! Another thoughtful and insightful video. So many of us let time drift on, without being mindful that we only have a limited supply. As human beings we are adaptable, and can adjust our lifestyle to the money we have. Write your own mission statement, actively live your dreams, and live an intentional life! David K
Hi David,
Really pleased that this video resonated with you. Pleased that you are clearly not one of those people we spoke about in the video.
Interesting. Im not a manager thats just my job title is what i say. Also i don't have a bucket list because i did everything and went every where i wanted to when i was younger, best advise my dad gave me. Coming up to 60 and thats work over for me. Looking forward to a new challenge of just being me for me.
I really appreciate your content and the fact that you share so transparently. My wife and I are only a couple months away from my retirement. (My letter is already written.) Keep on keepin' on!
Thank you 2ndSprings, appreciate it. Roll on that retirement, we're excited for you.
I made the decision April 23 that I would retire at the start of the next tax year, April 24. I found it really hard to maintain any motivation to do the role I had as I wasn't enjoying the job at all and found myself ticking the months away, with others I was made redundant in November 23 it was a release, I knew financially everything was in place and one of my sons is a financial advisor so plans had been double checked.
Like many I guess I'm spending a bit too freely but as yet to draw down from the first true DC pension pot I'm consuming other funds such as redundancy payment.
Hope you enjoy your final months and the time after.
My father also struggled in retirement and ended up going back to work. Your message here is very important! I really like the book “Designing Your Life” by Burnett and Evans (there are videos too). Retirement is a chance to redefine yourself, as you said!
Thank you DA! I hadn't heard of that book but will check it out. Hope you are well.
Best wishes, Neil
Using the out of doors for your back ground is really relaxing.
Thank you so much. We were absolutely freezing making that video, a biting wind in our faces! Nice that it was appreciated.
Most people Dislike there Job .
I worked with a Bunch of Horrible people , was relieved to Retire !
Haha funny, fortunately for me I worked with some amazing people that will be friends for life. Sadly the work was futile and that was too much to deal with for so long. Cheers, Neil
I always reminded people that didn't like their jobs that they were free to quit and find another one more enjoyable. Shockingly, most never left. They were married to the misery by a short sighted way of thinking about life.
Brilliant! I’ve written mission statements for organizations, but never for myself. Why did I not see the relevance? Cheers!
Hope this works for you. Be interested to hear what you come up with!
Great video, I hope this and some of the others on You Tube awaken others on how to plan and get finances in place for retirement, I think one of the benefits of auto pension enrolment is many more people will see by the time they are 40 the size of their pension pots, and realise how they can really boost them to get out of working until they are 67 or so and the state pension
I’m loving your new channel! ! It’s informative and entertaining.
“How would you like to be remembered?” is an EXCELLENT question to consider!
Thank you Neil and Sarah 😊
Thank you so much. We feel that many will not enjoy these but this is a space where we think we can truly help people. Appreciate your kind words.
I love what I do for the most part, but if I had 10 million I would definitely NOT keep doing it!! I would definitely be on the move. first see my country. I have not seen but a fraction of the U.S.A. and I have always wanted to go to all the National Parks and some out of the way places that I have seen in videos. Then travel around Central America, South America and maybe eventually Europe. Go to some great Yoga getaways and cruises across the Atlantic and maybe around the world! Grab my grandkids one at a time and take them on some epic adventure so that they don't have the dull life experiences that I had growing up and young adulthood. My fear is that they will be doomed to it. I want to change that if I can, and if they are open to it.
That sounds like some great dreams you have there! How cool to include your Grandkids too!
I cannot wait to stop. I have so many projects and interests I want to explore. Interesting how many in the comments have lost a parent who didn’t make it to retirement or barely. I did too and it certainly shaped my belief I don’t want to work one day longer than necessary.
I really liked the content of this video - especially the last 5 min- thank you!
This one will change someone's life. Guaranteed. I love the 3 mission statement examples you gave and Im going to use them. Hmmmmm maybe its MY life that will change!
Hi Robin, if we are able to help people to think differently then we feel like we are winning. It is good to just take a moment to stop and think isn't it rather than keep ploughing though life.
I needed this today. Thank you.
Thanks so much. Hope it helps.
Was talking to a work colleague about retirement.He told me that the oldest client his dad whom is a financial advisor has is 72 years old.
Some thought that retirement age is 67 and you slog all your life for such a short time in retirement.
Hi, have recently come across your videos and have been watching because my husband has declared to me and his employer that he is retiring in 18 months at the age of 63. There is a plan to buy a motorhome and travel, which we are both excited about. The main concern is finance! May I ask how much time do you expend on your channel, how long did it take before you starting earning from it? Sorry for the slightly personal questions, but it is something that we might consider. Thank you Debbie
Shame about dad , you look like him , God rest his soul
Great video , love the quotes 🙏
Thank you Pankaj, really appreciate your kind words.
This is my last year. Same conclusions as you have mentioned. Time and health is more important now than more money. We love to travel too and plan to spend 3 to 4 months away from home in the first several years into it.
I've been working 32 years now & I hated all of those 32 years, I've now decided to work for myself & start a RUclips channel amongst other projects with my wife who survived cancer in 2019, I'm 49 this month, time is the biggest commidity now
FAWLTY TOWERS! Thanks for the reference to one of the BEST comedies of all time; 12 episodes.
Yes... 12, you are right. What a classic comedy.
Thank you what great quotes and stories that you shared.
That’s so funny. I feel you read my mind. I am one if these „one more year and then I will decide again“. I simply fear that the money will not last because it‘s 8 more years until I get pension an then the pension will not be enough for a living. Means I need some money on the side for this time as well. And the world is so unstable at the moment which also scares me …
yes that is my fear. My SS could sustain me in todays cost of living, but in 5 years? Probably not. So the march continues.
Hey Sonja and Annie, we feel your pain!!! There are answers to your questions and hopefully in time our videos will do that for you. You know in the last video we spoke about Dave Ramsey and also comparing to the 4% rule. The big issue with those is the lack of flexibility.
That inflexibility will lead people to look at the drawdown strategy and apply their numbers and think... Too scary! It could all go wrong.
We will be talking about being dynamic with drawdown soon and when we do, we think you will find that interesting. We are trying to work out a way to articulate that message in a way that is easy to consume. Once we have that sorted, the video will be made.
But again... totally understand your fear. Fear is healthy!
Fab vid guys. Always good for a laugh and sound advice.
Great timing! Thanks for the inspiration 🎉
Thank you Kimberly! Appreciate it.
Mine is one more week, however I have already written my resignation letter and will be handing it in this Friday 24 May 2024 , and only giving two weeks notice because I can lol 😂😂 A colleague at work is trying to get me to go part time and it is not for my benefit but hers - she said if I leave she would have to do more work. That made me decided sooner rather than later.
Thanks for another great video. I think for many people, it’s not having enough money to retire that make them work for so long and others as you said think of work as their identity. If I had the money, I would retire tomorrow to travel. I’d love as a next video one that would work more on the financial of how to calculate when you have enough money to retire.
Hi Anne-Elisabeth. In time you will see us getting around to all of that. We want our channel to help people before, during transition and also in retirement. That being Financial, Philosophically and Practically. Hope you find it useful as we release them.
I want to do what you're doing as I'm 60 this year... however it's not as easy doing it solo
I think you would be surprised how many people slow travel and are over 60. I have travelled on and off for years solo and I am over 60. You build confidence in travelling and meet so many interesting people. Once you get used to landing in a place figure out how to get around it becomes easier. My advice go for it otherwise 2-3 years will go by and you will regret it. Do research before you leave and use Agoda to book accommodation for the first 2-3 nights and then look around on the ground and find accommodation to your liking. Good luck!!
@@carlmay8314 thanks for the advice...I holidayed solo over 45 times but going for extended stays is different but the longest journey always starts with the first step
Brilliant advice Carl. We sadly can't speak for people who are solo traveling but if we were to add something here... I would say if you have the skills and resourcefulness then the only thing to manage is potential loneliness. If we were single (we discuss with each other what would we do if we lost our partner), we would be looking to make good use of Hostels as that would be a great place to meet people.
Smudge, with your extensive travel in the past, you sure have the resourcefulness! Wish you all the very best with whatever you decide to do.
Great video guys, I'm on a similar path to yourselves (and I'm also from the UK) 👍👍 Andy
wise words - & food for thought - thank you
Thank you Clive!
Thank you for sharing 😊
I needed to hear this today.
Really hope it helps. All the very best.
Me also 😊
There are digital nomad cruises where people that want to work from anywhere as a digital nomad go on a cruise to meet other like minded digital nomads who also work part time remotely from anywhere
Can you do a video on how much you retired on and how your accounts are going now? Are you invested to grow your wealth or drawing down? I’m not sure because we never get the full story
Great video. So true. My father never made it to enjoy his retirement. Joey’s father retired, but had to wait two years for his mother to retire, and sadly died of a heart attack within a year. Both had so many plans that they never got to realise. When we reached the end of our two years parental leave with the small human, the idea of going back to work and missing out on that time was so depressing and demoralising that we looked at our long term savings and decided to delve into them early, because it’s time we’d never get back.
Exactly, time is everything isn't it. So sad to hear about your parents missing out on their dreams, it needs to be a lesson to all of us.
@@2GoRoam Yes, very sad indeed, but this did inspire us to throw caution to the wind somewhat.
Exactly the same for us. Keep on going you two!
I took voluntary redundancy at the start of the year, £75k package and a £31k db pension at 55 years old with no reduction as I went following redundancy. Been off work a month and feel lost without work….🤷♂️
Try volunteering, join the local U3A, learn to play Saxophone 🎷 join Men in Sheds….join MeetUp. I’m soooo busy 5 years into retirement and always trying new things.
@@BoninBrighton I’m back working feel happiest behind the wheel sad as it may seem. Will look to find a compromise as I go working too many hours just now but will go with it for now…
More important than one more year...that's the decision, the clarity, the understanding of what you want to do. This is a giant hurdle for more if not most...thus falling back on one more year is what they do. Impotent? Inertia? Lack of imagination? You two have achieved escape velocity. Most don't
Inertia is a huge one... taking the example of one more year.... it is easy to just kick decisions down the road, just one more day and never get to it. We hope that from time to time our videos can be a wake up call to stop kicking the can and start to think about what comes next. Appreciate the kind comment.
I retired last Spring at the age of 55. I had a great start achieving a lot and felt rejuvenated. However, I have struggled during the uk winter months with a lack of identity and filling my time. To a point where I’m now looking at going back in employment as the thought of another winter is already starting to play on my mind. I know i shouldn’t feel this way but find it hard to change my mindset? 🙁☹️
Go somewhere warm in the winter months 🎉
As one of the greatest modern day philosophers said ‘time is precious, never waste it “. Mr Willy Wonka.
Oh one more year syndrome is so me - though I went part time last year as a transition stage. The PLSA Retirement Living Standards suggest £34k a year for a couple to have a moderate income in retirement and having carried out Monte Carlo simulations, I need to do one more year part time to achieve this. I do wonder if I over analyse this in fear of not having enough.
Tricky one Rob, only you will know the answer to that. We were the same though, working through numbers late into the night for years before we pressed the button. Going part time seems a really good move though.
In the uk it is getting hard to believe that the state of finances are ever going to get better. Since the general election we have tax tax tax Labour in power so even the ones that have savings are worried because if you are not on benefits you are seen as the government t cash cow. They are already targeting pensioners.
Inspiration for sure maybe 62 when SS kicks in. I just don't see it at the moment Also worry about investment income nose-diving.
It just struck me, what do you plan to do after 10 years? Is there a plan? Carry on until health stops you? Forest cabin in the hills?
Hi Dan,
Good question, we get that a lot. We said 10 years because we wanted to set a target that we would have to hit for ourselves. We discuss it regularly and at the moment are feeling confident that if we have our health we won't change course for 20 years. We really are loving this lifestyle.
If only 1 in 10 people are healthy when they retire, how can 25% be healthy at the age of 70?
I think I made a good career choice. After a year at university I've done a succession of fairly short term jobs with increasingly long breaks between them. My philosophy has been to live as cheaply as I can whilst saving and investing. The longest I have worked is 9 years; and that job I really liked. I had to tell myself though that it was completely dominating my life, and, crucially, sooner or later, we're all going to die.
1 in 10 men they said.
John, quite correct. We shared details from the Office of National Statistics and a report from the Financial Times in this video.
Cornish - Like your philophosy. If we can live on less and invest the future will be better. Many people want to impress others by buying things they don't need. Crazy world we live in eh.
Time waits waits for no man or woman...! We agree on something...! May I ask you both a question ... Have you released/drawn the equity on your pension as is possible at 55 if im not mistaken and what are your thoughts on this, im wondering as Im contemplating releasing my pension at 20k a year into a stock isa and investing it yearly.
Hi Julien, that is a really good question and something that we are considering (I, Neil am now 55). For us we have the slight complication of having a small income from our RUclips channel, meaning that come the end of the financial year, we don't really know how much we have earned and what the delta is between that and the available amount to draw without having to pay Tax.
If you don't have those complications, taking from your pension and putting into ISA is a good idea, as long as you don't plan to be funding your pension any time in the future. Once you commence Drawdown, the amount you can pay in each year is reduce significantly.
@@2GoRoam ty mate.
Or a better question What is your Name and What is your Passion??
my passion is not working pls help
YES! That would be a brilliant one. That is a question we might start asking people we meet... like that one Gary.
Too many people work for money eg an hourly rate etc
The wealthy buy assets which they rent out or lease out which produces cash flow so they don't need to work for money
Most people could retire early if they learnt how to day trade the stockmarket from their phone
Did you travel a lot before you retired?
Hi. Just a heads up regarding the sign up under your last video. I did it but never received any link to the spreadsheet you were using. Perhaps a problem with whatever system you are using?
On the subject of wasting time. Although it may seem that way, I think that all we have ever done has culminated in the person we are today. A different past would have led to a different present. It all involves learning.
Hi, I sent the link out around 5 hours ago, can you check your spam folder and let us know here?
@@2GoRoam thanks for your reply. I just checked my inbox, spam and even deleted but nothing.
Actually, I just signed up again and it accepted me even though I used the same email address (no message saying already subscribed). Perhaps I messed it up somehow last time?
When I get in front of the laptop, I'll send you the link to your email. Give the the first name you signed up with 👍
@@2GoRoam Adrian. Cheers.
Almost everybody I know would retire at 55 years old if they could financially
We'd like to think so but know too many people that are not doing that. It's a strange old world.
Yep, This is my year. I thought your mission was to spend 10 yrs traveling to find the place to finally settle down, has that evolved?
We'd say that Traveling is where we are rather than what we do or our purpose. As with the comment above to Dan. We will be traveling for longer than 10 years all being well.
🙏 Twelve Episodes Fawtly Towers...😬
Yep! Silly me. Great programme though eh.
People lie to themselves....
And.... people often don't give it the time to think on it. More like to spend time watching TV than to create their future. Appreciate the comment.
@@2GoRoam I retired 2 years ago at the age of 54...I still worry about finances from time to time, but my health has improved immeasurably, I stopped drinking, lost weight and I am in better shape now than I was at 30 years of age...
Thank you for a great channel.
And say "Better the devil you know" There's a fear that older people won't find employment. As baby boomers retire there's a labour shortage, at least in the UK.
Also, working one more year doesn’t mean you’ll have MORE money at the end of that year.
My husband’s company laid people off and he got a severance package.
Our plans were that he’d have worked 5 more years.
I had my own business and he came on board with me to work together those 5 years and then retire. A series of events happened:Our homes value dropped because interest rates went up.
The business suffered with low sales through Covid. We had to replace a 30k roof on our house. The stock market took a huge dip.
At the end of those 5 years we actually had a lower net worth than at the beginning.
Our plans were to retire to a lower cost of living country.
We’re 8 months in to our retirement and we found our country. Our cost of living is low enough that we’re now saving more of our social security checks than we were able to save from our paychecks, with an even better standard of living.
We really didn’t see that coming. We’re not really early retirees though. I’m 62 and he’s 71. We’re having a blast. We’re both in the best shape we’ve been since our 30s.
Our “purpose” now is daily exercise and the Mediterranean diet and learning Spanish.
retire on the job. go on trip ever month