3 Reasons To Retire As Soon As You Can
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- เผยแพร่เมื่อ 4 ส.ค. 2024
- There are 3 major pillars that are imporant for you to consider when you are planning for your retirement and if it makes sense to retire sooner than later. Take a look and decide what ideas you can implement in your own journey.
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I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I'm in my mid 40'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 a million dollars 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.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable 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..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
We experienced the pinnacle of our era, but it is now gone. Like what happened to Rome, the corrupt administration will bring this nation to an end. My condolences go out to anyone who is close to retiring and may be worried about whether their pension will be enough to pay the rising cost of living. Insane fiscal policy, poor regulatory policy, poor energy policy, and poor foreign policy
50 and early retirement. I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
There is never the right time, so dive in and get going!
Opportunities are scarce; make an investment today to become financially independent. I am participating in numerous sectors with the help of a Financial Advisor, and success seems to be more straightforward than I had thought.
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I appreciate your advice. How can I get in touch with your Financial Advisor, if you don't mind? I am in severe need of financial aid.
I retired at 62. The time driving to and from work was an hour each way. 10 hours a week of driving! It was an excellent job and paid pretty good but I was so TIRED. I tried to transfer to another office closer to home without success for two years prior and every door closed in my face. Then it seemed God was leading me to look into retirement... I did just that and I haven't regretted it once! Biggest blessing ever!
Wonderful. Commutes are the worst.
House paid for though? That’s my problem, $215K left.
I can't say I blame you. My commute isn't overly bad because I only do it 2-3 times a week. Not having to do it 5 times a week is a game changer because my commute is cut in half. You can always consider working part time if needed.
@@drewdemarco4433 yes, we are blessed but worked hard all our 48 years together.
@@BillyO8828 Thankfully, I don't have to. ☺
I retired in late 2022 at the age of 62 and am doing just fine. My home was paid for and I didn't have any debt. I have about $550,000 in savings, IRAs, and a brokerage account.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around $300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
Becky Lou Gordon is the licensed expert I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Time is more important than money after age 50.
Time to yourself. Time with family and close friends. Time to live.
So true!!
I do both...money and time!!
time doesnt pay the bills money does😢
@@davidbrooks8809 Money is time.
Everything has a time price.
How long you need to work to get it.
The diligent among us ensure we have enough to retire early, while still healthy,and enjoy the time
No it definitely is not. I would rather not survive into old age if I had to be cold and hungry
I retired at 63 because two closed friends passed. Now 65 just lost my best friend. You can always make more money but you can’t get back time.
Agree100%. I am 66, all of my close friends from childhood days have all crossed the rainbow bridge into the after life. So be happy and enjoy your life now well you are still alive.👍👍👍
Very true.
I too lost a very good friend of 40+ years whose intent was to retire at 64. She was diagnosed with brain cancer on Memorial Day weekend of 2022 and died a few weeks later that same August just a month shy of her 64th birthday. I am still trying to process this and the loss of another friend (much older) earlier this year. My retirement goal is next winter 2025, but I am beginning to seriously reconsider that time line.
It's one thing to retire early, it's another thing to retire early while being financially stable. Bought a good cross section of an economy after i retired, Also i built a diverse portfolio that i'm attached to because it keeps me motivated. I never follow the crowd emotionally when choosing my picks. To be honest i sped up the profit and stock picking process where possible by using an FA, I also dabble in etf's, bonds, coins etcetera. After my first million I realized that when a stock starts booming chances of you finding out it's potential on time is very slim. most average investors are always late to the party, for this I make sure my CFA handles that, ever grateful to Dianne Sarah Olson. it’s like turning your notifications to earn more millions.
Truly It's all about using assets with compound interest to amass riches.
did a quick search and found her webpage. I must say her resume is pretty impressive.. will be writing her too
Please if you don't mind, how do I get in touch with your advisor? I know it’s late but I’d like to start investing
Dianne Sarah Olson, do your due diligence on her. She's the best. Goodluck
hi, i'm 49 and already planning ahead for my retirement, i know it's really early but i'm working really hard to retire by 55. I've been working as an accountant for an AUTO company for 12 years and i already have close to 100+ saved but i don't know where to start. Can your Fa invest it for me please? i don't think i can do it myself. please i need a reply
As part of my retirement plans and also owing to the very shaky housing market now, I just sold a property in Philly and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains in months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge, And it also all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.
Reason I decided to work closely with a broker ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind suggesting the adviser you're using ?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Just retired at age 62, way too many friends passing away from cancer
I hear you. Cancer sucks! Eating well is very important. Happy living well in your retirement!
I’m 54, recently lost my twin. I can retire in 9 months and I’m sure I will in not too long. Living big enough for both of us.
Astra just took off their vaccines for good. Zionist run pharma run by the White House mafia will see ppl don’t reach 70. Covid vaccines was a game.
Cutting s gar, real or not, to almost zero is critical.
Better late than never. Well done!
A minimalist lifestyle is the process of identifying what is essential in your life and having the courage to eliminate the rest. When you remove the unnecessary, you free up your time and capacity to focus on the things that truly matter in your life. Less is more.
Agree, not easy to most people though.
I also agree. However, it's very difficult in America to live a 'Spartan' lifestyle.
I do the same. Minimalist. Spend on the basics only.
@@user-ir1bl9ii1e why would that be difficult in USA?
@@slprn67 ..........I love the idea of a "Minimalistic" lifestyle! I'm in the process of getting rid of clutter and most material possessions and just focusing on my basic needs! 💯💙💪🙏
I will retire next year at 60. I like my job ok but am just sick of working. I have been working more or less since I was 13.
Me too. Been paying income tax since age 14. I haven’t had a month off since I was 14. That’s gonna change in 3 months. I’m done at 62!
Every day is Sunday when yer retired ☝️😁💛
Me too!! Work since 8 yrs old n retired at 55 coz tired of working!!❤❤
@@user-pc4wb6md6p Good for you. I didn’t get my crap together soon enough to do that lol.
@@God-Zin-uru I hope so.
I have met many people who had less money in the bank and were way happier than those who had more money in the bank by holding full time jobs. You do not need to have alot of money to retire. You need to plan. The sooner you plan and put those plans into action the sooner you can choose to retire.
Yvette, you are 100% right!
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
Retired at 59 now 61. One of the Best things Ive done. Thankful I was able to financially.
And that’s the big factor. Finances!
You earned it! Congratulations! 🎈
What about your health insurance?
@@litao3014 Health insurance has to be part of your plan.
Me too 😅
I am 67, lower middle class. Retired after 20 years serving in US Navy. Worked at local state college for 10 years part time teaching math and then retired completely at 55. Absolutely best decision I made in my life. Past 12 years of having my time to myself to do just about anything I desired, mostly stayed home , loll, was and still is the best.
Sounds wonderful. Thank you for your service from another veteran family.
I retired at 63. Last month. I just got my 1st SS check this past Wednesday. I don’t regret it at all.
In my 50s, I'm focused on investments for retirement. I've heard of people generating substantial passive income, like someone who earned $650K in under a year on a CNBC podcast. I'm wondering, what could be the strategy for such returns?
Find quality stocks that have long term potential and ride with those stocks. As a regular investor, I have found it takes someone who is very familiar with the market to make such good picks.
Agreed, opting for an advisor is the ideal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with one for a while now, and my portfolio has surged over 120% since early last year to date, summing up nearly $1m.
@@EShepard- please how can I connect with your advsor? I am 56 and have my money scattered around, need to be moving faster towards stable retirement
Can't divulge much, I take guidance from ''Katherine Nance Dietz'' and most likely, the internet should have her basic info, simply research.
thanks for putting this out, curiously searched Katherine Nance Dietz on the web, found her consulting page and was able to schedule a call session
I retired 2 months ago, 2 months before tuning 60. Was going to wait until 62-63 but decided to retire and focus on my health. I now walk 5 miles a day, in the sun, used to only see the sun in brief glimpses during my commute. Don't forget the time after retirement has all of those wasted hours back from working and travel to and from work. Retirement time is better quality time.
I'm 59 and wanting to retire now 😂 I have some savings, home paid off and no debt. I probably can't get SS until I'm 62...haven't even checked. I want my free time. So I figure I can wing it for a while and then go to part time job until SS. Just a hope ❤
@@lisalee2885 I never could swing a home, so I focused on my retirement. Still renting the same apartment since 93. Having a home paid off is massive. Don't know yet if I will take SS at 62 or 67. Nice to have the option if needed.
@@pizza4me298 WE do the best we can and honestly in these days THANKFUL to have so much. Best Wishes...keep Smiling and moving 😁👍
😮 Thank you for confirming all the things that have been on my mind as I turn 65.....
Anytime you can be the boss of yourself that’s a huge plus. Retirement gives you control to do what you want when you want! I’m healthier now than working in a toxic environment. Money isn’t everything! Your health and sanity is priceless! When you do retire, keep busy, exercise and laugh ,yes laugh…..you finally made it! You’ll have a lot to laugh about now!!!
Amen
Great video. I retired last year after I turned 60. Of course I spent my last year of working also in a cancer battle. The earliest I could retire with my full retirement was my 60th birthday and I went out that door. I beat that round of cancer. I’m wrapping up treatment for my second round now. Statistically speaking, I probably won’t see 90. So to heck with working. If I dropped dead at my desk, they’d post my position the next day. Work doesn’t care about you the person. So it’s time for me to enjoy my life.
Sounds great!
Money is important, but if we need to struggle to work till we feel secure for old age life, I rather enjoy the moment when I still have my health, that’s why I stop to work a big at 50yrs old and travelled even by myself all over the world, after few years of travel, I felt myself are fully happy for my life. Now nothing is scary for my future life, I am fulfilled ❤
Makes me happy to see other people retire early. One question I asked myself when deciding was ‘when I’m on my deathbed will I regret that I didn’t working more, or will I regret not spending more time with loved ones’? It was a no brainer.
Great thoughtful question!
Sounds like you read “The Last Lecture”. Great book
@@karltinson5327great book! I have it.
I retired at 60. Pushing 70 in a few months. Could have retired at 55, but looking back, I feel the decision to retire when I did was the best I could have done and it was the right decision for me.
Wonderful!
What was your medical insurance after retire at 60?
Medical insurance of course is related to how much the premiums are. Medicare at age 65 and supplemental to go along with it, a federal insurance plan was dropped because the premiums were going through the roof.
I fully retired at 55. I took a hit on my pension, but it was worth it. It's only been 18 months, but I'm not looking back. It helps that i have no mortgage, credit card debt, or a car payment. My wife and I stay very busy with our small hobby farm and our very big garden. I would suggest to anyone that you retire as soon as you can.
We're you a lifelong govt hack ? Not everyone can work a cushy govt job & retire at 55. Whom do you think is paying for your overpaid under worked job ? The Taxpayer. Enjoy your super early retirement.
You're Welcome.
@matt75hooper Sorry your life didn't turn out well, Matt. I'm not sure where you went wrong, but just so you know, i never worked for the government. 35 years in construction. I put in a lot of hours mixed with blood, sweat, and tears. Hard work and faith in the Lord is my way of life. Hopefully, things get better for you. Bitterness is a sad way to live your life. Let it go.
Time is our greatest asset.
It's our only asset
"The whole future lies in uncertainty: live immediately." - Seneca
Great respect for Seneca!
@@Olga_StPierre ♥️
Great 👍
Great video…I Just retired Wednesday. Im 59 and I still do part time work to help pay for healthcare without dipping into nest egg. 6 months on Cape Cod , 6 months in S FLA. RETIRE EARLY and enjoy the fruits of your labor before it’s too late and stay healthy!
Thank you Olga. I'm about to be 62 and just filed for Social Security.. I'm selling my house and moving out of Florida. If I stay here, I will never have peace. I have too many "Friends" that take up a lot of my time fixing their issues and problems. I never have time to myself. Your video opened my eyes and helped me decide that it's time to travel and visit my family in Texas and Colorado...it's time to Retire now.
Amazing but understandable reason to ditch Florida. I've seen so many unprepared to manage their affairs. They were lucky to have you but you don't need that responsibility! Enjoy next chapters.
Your comment reminds me of a woman I used to work with. She had a lot of vacation time saved, so she started taking off work every Wednesday. That way, every workday was either a Monday or Friday for her. It was either the first day of the week, coming in rested, or the last day before break. She didn’t tell anyone she was off on Wednesdays, because they would have commandeered her day off.
Good thoughts for people who have a lot of friends and family they have strong relationships with. For those who do not, the lack of work creates a hole in social outlet and belonging which has a detrimental impact on one’s mental health and self esteem.
I totally understand what you say. I'm 56 and can retire comfortably but what am I going to do with all this time? my parents are gone and I don't have a big friend pool especially since I've been teleworking since COVID.
Sad 😢
@@royharper2003 Volunteer or travel? Fall in love; adopt animals or children; build a "grand designs" house. I could come up with so many things to do if i were you.....😂❤
Get hobbies, learn new skills, go out and meet new people, there is more to life than work, I've been retired 4 years now, don't miss work at all, time flys
I agree. That’s exactly why I am reluctant to retire. It’s true, hardly anyone will regret at death bed not having worked more hours, yet it needs a substitute that provides sense and purpose. The real sad thing is, that we don’t have this other purpose 😢 Pursuing some hobbies is nice, and it might be fulfilling for some time. But I‘d say latest after the first year, if no adequate substitute is found, it becomes a real issue. Also, if your partner can’t afford to retire early, then that’s another challenge.
Exactly why I retired at 57 God willingly I’ll have more time to enjoy life before passing away
Retired this year at 46. Best decision I've ever made.
Obviously money is not an object for you. Health costs ? Income ? SSD ? You don’t just pick an age and retire out of the blue. None of our business, but obviously you’re being funded.
@Bob-xt2on I wouldn't go as far as to say money is no object. I've been working 31 years, including medically retiring from the military. I invested my sheckles for years and live off of the interest. It's not easy and I paid a heavy price but I can do what I want now and have no master.
@@Bob-xt2on my Dad retired at 47 as a Sgt Major, with 29 years...did a couple side hustles briefly at first...but for the most part...he's been 'doing his thing'...he's 87 now. My parents have always lived frugally and have 'seen the world' despite their modest retirement income. Disciplined....unlike me and my wife.
Nicely done! Being extremely careful w money and investments, I managed to retire even younger. We both dun real good!!
The most be rich!!
My instinct told me 67.5 was the pull-the-plug year because I've been on my own most of my life and needed to feel financially secure. Sold the house that was too big for me and returned to school in a subject that I enjoy and will finish in a year at 70. I'll be working for another year or two but not the driven way I was working and without the need to sell my services for the highest bidder. My fitness declined during the transition, and I hired a trainer to work with me each week to build myself back up. (Main areas: Strength and balance with an eye to losing that winter weight also) Good luck to all! Social security will be claimed later this year.
I am 55, and have 2 fully paid houses, one rented out. I probably can survive just on that rental, but I am still working because I like my work and my colleagues are nice people. I did think of retiring and tried taking long leave...but then I got really bored during those days. Doing absolutely nothing makes me feel like I'm just 'waiting' to die. I've travelled the world (over 30 countries) in my youth, and have tried almost everything that I have wanted to try. There really is nothing more to do. Sometimes I just take the bus that leads to nowhere, alight and just walk and if there is anything nice to try or eat I just do it. Retirement is good if you have some friends of your age that retires with you. But many of my friends cannot afford to retire, so I just join them...to work.
I'm 59 and although I may retire very soon...I will because there are more important things I can do that help others. I've watched neighbors who worked 9-5 and retired. Wow! Within 6 months I've seen their physical decline. They piddle around but they don't do enough. I suggested they volunteer or work part time but now in less then a year she has major health issues 😢 Keep moving folks 👍🙏🤍
@@lisalee2885 Yes, whether you have money or not, don't stop working totally. Keep working.
There are so many things to do besides work. Don’t limit yourself to work. Travel, read, watch a movie you’ve never seen. Do anything but work.
I'm not retiring yet.. 58 and can't afford to but I've never understood the "I'm bored if I don't work" mentality??? I truly feel sorry for those that have to work to find purpose in life!
@@CoffeeBreakSomewhere If I don't work, I'll just be sleeping the whole day. I've done it several times and it reaches a point where I cannot even sleep at night! Had to find something to do.
I am 66, started collecting social security at 63. I work part time in a hotel position that I really enjoy. I enjoy working with young co workers, I feel younger. I still have time to go to the gym for exercise, spend time with family and friends. Enjoying my life I living in fabulous Las Vegas 😊😊😊
Sounds wonderful!
Thought I was very healthy until I just had major heart attack at age 58. Needed triple bypass. Now I want to retire asap. Even though I wanted to make it to age 62. Needed to to meet my plan. But will make it work and get out soon
My hubby dropped dead at 58. Widow-maker heart attack. I retired 18 months later at 58. Traveled a bit, moved out of state, then moved to Maui after that, then COVID hit. I started a consulting business to entertain myself during COVID. And now I'm working again but only to fund my "real" retirement and move to Europe in 2 years. :-) All this just to say, my entire world view changed after he dropped dead on the Friday before Christmas, 2016. Live for today!!!
Wow you had and still have a great life. That’s because you are highly skilled and have so many options. That is great !
Had a triple at age 58 too! Retired at 60 and have never looked back. I call my surgery day my new birthday lol.
I’ve listed my pluses and minuses. I’m a fit and healthy 61 year old, I love my job and have recently reduced my hours to one day a week, this works really well and keeps my brain busy.
You don't need work to keep your brain active, get some hobbys, read, learn about new things, use a computer, don't waste time working, even part time, if you can afford it
@@glenmason1876 I read regularly and I’m learning French as well 👍
You only live once, enjoy life while you can.
YES!
You only live once?
Here was my retirement goal. To make as much money as I can from my investments. And I made a lot of money and retired at 65. I had no set money amount. Financial planners try to talk goals to confuse you and sell you their products that make Them Money From YOU. Especially Annuities. Huge Commissions for them. Beware. The retirement financial industry is Lying to YOU.
Being vigilant and interviewing great financial advisors is important for sure! Glad you're all set and are enjoying your golden years!
@@lifesabeach5405 The only person that really cares about their money is the person with money. Financial advisors and planners want to make money from other people's money. And if the advice they give you loses You money. They do not care because it is not Their money.
Annuities, life assurance and some mortgages are the greatest scams pushed by the financial services industry.
@@danklein8587 Very true, there's a built in co flct of interest.
YEP! Found that out the hard way! I would never ever ever go with a financial planner. Closed out my parents account and they took the remainder just over $500, plus hits everytime you take it out plus they drill you why you want to each time you need to like you are taking money out of their pocket and food out of their mouth. No way again. No thanks. It's a racket. My parents never seemed to get ahead by much. Pretty awful. Don't do it! If you want to, take a class and invest in something that pays you dividends directly without a major corporation as the middleman with their greedy hand out! Otherwise, use multiple banks and put funds in such as, CD's ! Why in the world pay someone else to control your money when you can do the same thing when you know more about it and you don't need to know much. That's a fact. You make pennies on your money when financial planners make dollars. Forget that bs.
Retired Age 50!
I planned this at age 13 after reading an ad in a magazine about owning a carpet cleaning business.
7 more years I'm retiring at 62 years old, pray we have country...
Sorry to burst your bubble, but our country will become a 3rd world hellhole .
Agreed…. The orange Jesus dictator wants to take our democracy away so he can be like the dictators he idolizes…
counted the days for 5 years for 62 to come...then it came this March...and because we barely have a country...I turned down a nice little buyout and will no go year-to-year til 'the world' improves. It's starting to....so maybe 12/31/24 is it for me.
@@lazvt8469 I saw the writing on the wall in 2021…. Sold everything by summer 2022…. No regrets…. 2025 should be interesting for markets. I expect another blow off top before the real recession hits…. Best of luck selling at the top🤑
Mine was 12/31/23. Not worth the effort fighting the rat race,
Eventually, EVERYONE will loose their good health. [When] you will lose your good health is the big question. Take care of your health people!
And if one got Covid vaccinations, the chance of having good health becomes smaller..
Best advice of all🎉
You provided some excellent information 🤗🌟 I'm getting older and listening to good advice. I'll continue my passion of writing and inspiring as long as I can 📚
What a nice video, Olga. First video I watch on your channel. Thank you!
Great video and good advice. When I hit 55 I started feeling old. I mean up to that point I had loads of energy. Thus something is telling me its time to slow down and start thinking about retiring and not working so hard.. So I will retire next year when I am 60. Regarding the money: enough is never enough; I mean you build up that pension pot and no matter how big it gets its never enough! A tip here: look at your life now and think can I continue to live the same when I retire? I mean in terms of money.If you live a fairly simple and lets say frugal life where you don't feel the need to consume like buying expensive things, having the best/latest, flying business/first class, etc, then the answer is yes. When you retire the way you live won't change! So you think about retiring as soon as possible.
Exactly! Adjust your expenses to live on your new budget. It might require some hard decisions, but you get your time and freedom back. For me, that’s a very easy decision! I’m done in 3 months.
You speak so eloquently and have all my attention, wonderful counselling and advice!
I plan to work for as long as I can. It keeps me healthy and engaged. It is important for me to be an active participant in society. I hope to pull off a Linus Pauling and work until I am in my 90's.
I am surrounded by retirees here in FL. They walk around searching out poor innocent folks to yap yap yap about when they were younger and working. They never stop yapping. Retirement isnt what people think it is. And- the retirees my age look like hell. I may never retire. How much time off do people really need ? I love my work, which of course is the key to happiness & the real American dream.
@@matt75hooper I agree Matt. I live in Florida also. I retired from the military after 25 years and went right to work full-time. I did not even take time off. It keeps us mentally and physically healthy. Everything you said is true.
I agree with all of you. I am 78 and still is a tenured full professor. I have enjoyed my work, my closeness with my students, and the freedom I have to work and to do research & travel during summer and winter breaks, almost 5 months a year. Work is a part of me. Work is meaningful. I also think college professors are lucky to enjoy their life styles. I am as effective as if not more than my younger colleagues. But I plan to retire next year when I turn to 79 because I cannot accept the direction that our higher education is heading to. But I will continue to read, write, and travel. I think if we are healthy and happy with our work, we should stay working. But if work causes stress or unhappiness, it is time to leave.
@@user-px5ru8ft7k If only we could all be lifelong govt Hacks like you. What a scam.
Just waiting to reach age 55 to retire with 33 years of service. I will have earned it. Time to spend time with the grands
Sounds wonderful!
I don't know a single person here in the United States, where I live, that has enough money to retire on. Not one. I think that dream ship has sailed for the vast majority of Americans.
You have to leave the country and stretch your dollars elsewhere. It can be done😊
@@jenniferjemison636 You`re absolutely correct. In fact, I`d already be overseas now but I have an elderly parent that needs me here so that`s that for me. But I do highly recommend that ALL Americans seeking a better retirement look overseas.
@@anoldewomanPeople don't realize that when you retire you actually are spending less than when you are on the job. You don't need too many new clothes and all those other expenses that go with having a job. I also am able to adjust the way I eat at home by using one chicken to cook three meals. 😊. I use the breasts to cut in strips for a lovely stir fry with vegetables. The legs and thigh are baked with roasted veggies and the wings and the back bone makes a nice vegetable soup. My husband and I don't eat the way we used to because we are trying to maintain our health. We have one older car that is very well maintained. We cut down on long distance travel but uses busses for longer journey. We also grow some of our food and have to give away because they are seasonal and in abundance. I've actually saved more by eating out maybe once ever three months. I must confess that I prefer my own cooking. The quality of the food today is very poor.😢.
So I don't follow what the retirement gurus are saying. Paying off your mortgage is a must, I think, to give you that flexibility. Lastly, I'm only on one medication for my blood pressure and do my best to sleep well and enjoy my garden. In addition I am living where my dollar stretches the most and am very happy
It can be done. Make the adjustment❤
Not true at ALL!!!
what a joke of a comment, like you've spoken to every single person in the US to understand their retirement eligibility. If you had talked to me I would have told you I can retire at 57,.
I've always thought it odd that people work hard to retire but the one thing most never do is look at the currency they were working for.
Thanks Olga. I like it that you consider happiness and non monetary goals. My financial planner seems to be too focused on money. And we have been too focused on that. Time with family and friends is more important
Agree Stan!
I retired at 51, I’m now 53 and enjoying life to the fullest 🙏🏾
I retired a few months ago at 61. Now I have more time for my hobbies like reading, Zumba, yoga, fitness classes ... Just came back from a 22-day cruise and will be making more travels soon. I've been working with my financial planner and researching online for my retirement plan. I'm 💯 satisfied with my decision.
Wonderful, enjoy!
This is something I really needed to hear as my health started to decline.
I am glad you found the information useful. Take care of yourself!
I like customer service work at the airport. Ok $ with lots of walking talking and feel energized.
@@susanjohnson4728 Great option and even better that you like it!
Time cannot be wasted. You have as much or as little as you need.
only a small portion of the population can live 90 years.
Even if you are in good health, you still don't know if you are going to get flattened by the crosstown bus as you step off the curb two days from now. So whether you retire or not, try to get a little fun in while you can! 🤣🤣🤣🤣
Wow this was really good info - I could relate to the entire video especially "trust your gut".
Thanks! Glad you liked it. More great stuff coming!
How very true this vlog is. I retired last year aged 55 due to ill health. Making the most of what time I may have left but financially pleased that I can survive in the interim, while still being able to leave something tangible for my kids and fantastic partner. I go with my body nowadays as my brain is over active still.
Be mindful that when you retire you may want to help your adult children with childcare. Here in the UK professional childcare is so expensive that its cheaper to go on benefits and get the government to pay. My children don't want to go down that route thankfully so my husband and I cover the grandchildren in school holidays, collect from school etc.
This began with enthusiasm but we get exhausted now, five years of doing this. It's great to be able to help and we are good at it and obviously we love them and we know we're providing a firm foundation in their important early years.
But it's stressful, keeping them safe alone! We're 71 and 75 years old and it's beginning to tell on our health.
Great retirement video. Time, health and money. I like the suggestion of getting a part time job doing something interesting. For some, if they can afford it, a job at a museum is inspirational. Thanks.
As I grew up my parents house gained a lot of value. "This will all be yours one day" my mum used to say.
So in the back of my mind I always felt I had her property proceeds to look forward to, later in my life. Big mistake. Now mum is 97 and in residential care. Her money is dwindling to nothing because the costs are so high.
I and she, would have loved to have been able to pay off some of my son and daughter's mortgages with that money but it's not gonna happen now!
Absolutely fantastic information.. I am 60 years old and I am having serious doubts about retirement. The USA is just getting so dam expensive and I feel like I am going to definitely have to get out of here…. I will be following you and trying to absorb as much as possible… Thanks for sharing your knowledge…
Hello Olga
Thank you so much for such good suggestions
Much appreciated
Julie ( from Australia) 😂
Really enjoyed your presentation. Thank you!
Thanks for this - you inspired me to make a decision about something!
Im 49 Soon to be 50 yr. Old Suddenly Turning my cycle in mind recognize that im not younger anymore) and there is this instinct that prefer for retired as im overseas asian workers abroad) from southeast asia Im Single But helping alots of my folks and relatives, Thank You very much for more insightful to me) Now I had more Idea when to pull that Triggered. I thanks all other videos i had watch before I will retire to my Home country in beautiful Southeast Asia island
Retired at 55 years of age. I've filled the time with hobbies, family, friends. Zero debts, an excellent vehicle, nice house, some investments means zero worries about money. In fact, my financial situation allows me a certain degree of generosity (specially with family but also complete strangers). That has become one of the great joys that I did not anticipate at all when I retired.
This is a numbers game. I had cancer at 27, I am 2.5 months from 70. Like Hans Solo in the Millennium Falcon, Never tell me the odds!
I found out I didn’t need $1m to retire, my advice is to retire Asap,. It depends on your expenses . I left the workforce at 62+.
Yes, expenses is where you need to pay attention!
$1800 mortgage, $350 utilities. If I retire now at 62, my ss will be $2000. I have no retirement. My own fault probably, but it's too late now. Work until death is my motto.
Our goal is to retire at the age of 50, and we save and invest like there's no tomorrow. Thanks for the video.
Fantastic! Do you have any specific tips? I am happy to encorporate them in my future videos 👍
@@Olga_StPierre there are three important things that we always practice in our family. 1st, we always find way to increase our income by 10% each year to keeping up with the inflation. 2nd, we stop buying things that we don't need, for instance; we only buy clothes during necessary occasions, and those clothes have to be on sale. 3rd, we only spend 30% of our income on our foods, utilities, property tax, and health insurance, etc. The remaining we invest it in the broad market index funds.
@@Emilyleestrongawesome! My position is just the opposite. We spent like no man’s business when we were young. Upsized when I was planning to retire against my wishes of course! We spend all money earned so I have to keep working till I drop.
Great video we totally agree , so many focus on money they overlook time and health Cheers 🇺🇸🍷🇨🇦🙂
Thank you very much for chimining in guys! A fan of your channel!
All of this advice is great. I am starting to think in these terms as far as time and health are concerned and reevaluating.
Something has been telling me it's time to rethink what my priorities should be , and I think it's for a reason.
I am glad that this video is helping you get more clarity for what you need to do.
Going to be 56 in a few months, health is good, parents are alive and aged 82 and 90. Original plan was to retire at 60 so as to have 'enough' $ In the last year I have lost ALL interest in work, and now I am considering retiring in 6 months. Plan would be to sell current home and purchase a smaller one and use the $ from the sale to finance the next 8-10 years until government benefits kick-in.
Great comments and please let me give you an unsolicited point of view. I am at my sister's house, settling her estate. She passed away from natural causes, one month ago, while at work, at the age of 53. She had plans of downsizing and moving to a community closer to work, where the commute was 15 minutes versus over an hour. Obviously my poor sister did not execute her plan in time. Would she still be alive if she turned the corner and followed thru with her plan? We will never know. I can't help but think that her state of mind and level of stress would have been in a much better place, if she had moved forward on that gut instinct. Best of wishes to you and your decision.
Hi-I'm the same age as you and also have lost all interest in work-Both my parents died over 10 years ago from cancer-ages 69 and 72. I was gonna do another 7 years but now I'm thinking the same thing as you...I may need to do a solid 2 more years and stack money away in my 401k and investments and then call it a day. I've been working over 40 years and I'm just done.
@@dawkrb Sorry to hear about your parents passing away so young :(
We are the same age. I am a teacher. I feel the same as you about work. My parents are alive but younger than yours. I have already downsized but I am too scared to retire and spend my savings until I can get an aged pension in Australia at 67... because I doubt there will be one.
@@filamphibian2980 I'm so sorry for your loss. Thanks for sharing, and take care of yourself.
Thank you so much!
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mother was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.
Olga, that was helpful. Thank you!
my pleasure!
So sorry for your loss. Thanks for the video
Excellent video! Thank you for posting!
thanks for the advice great analysis!, although for most people 90 is not realistic at least for me. I’m a 56 year old man, I would back that down to 80 maybe 82.
Hi! Thanks for chiming in. I invite you to keep an open mind and aspire to live past 90! Don't settle for the average, and that's why 90 is the number!
Healthy and vigorous throughout my 72 years. A recent troika of bronchitis, COVID, and an emergency appendectomy in mid February, necessitated 3 weeks of enforced bedrest.very deconditioned as a result. After medical clearance, i really focused my efforts on slowly regaining strength, muscular and cv endurance, and sound nutrition.
In 4 months of 6 x/wk training, i regained and increased fitness/health prior to the sx. It was very humbling to begin training again at such a diminished capacity; but i listened very closely to my body, and slowly progressively built up my condition. Walking, biking, weights, stretching. Didn't want to succumb to a sedentary L/S. Looking forward to overseas travel next year. Good medical care saved my life.
I retired 3 years ago. Traveling all over the world, places i love to visit , the people i made acquaintance and keep exploring the world. Cannot do it while working full time. Work is stressful and lock you in the daily routine you don't want to be. Paris, London, Florence Italy, Belgium, Berlin, Spain, Portugal and Japan and more to explore.....
Excellent video and perspective.
Thank you very much Tyrone!
"Dost thou love life? Then do not squander time, for that is the stuff life is made of." - Benjamin Franklin
Excellent advice for free 👍 Do a system check it’s latter in the game than you think ❗️Today Is The Day 🌅
I like this vid. Good insight and some good tips. It makes sense to have a good idea of your retirement expenses.
Healthcare insurance and money are our biggest concerns. Remember, if you’re taking social security, you can only make so much money outside of social security money. I wanted to work until we could get Medicare which is age 65. Sure, it’s nice to think about these things you mention but, there is more to consider.
I agree and why not enjoy your family and friends while steel working, i think it s better to consider slow down at work. We have more free time because kids have their live out of the nest. Depend on what king of job you have, but if you enjoy what you do don’t stop. You have money to travel, make gifts etc… be retire is 100% free time and you need money for this
Thanks Olga, nice video and recommendations 🙂
Much appreciated!
If you have health and enough money, and just in your golden years, then you have no reasons not enjoying life 😊
Thank you!
I don't know how people afford health insurance before 65. I can get COBRA for $1,113 a month, which is insane.
I'm on Cobra, paying 712$ a month,and that includes dental and optic. Feel it's pretty reasonable..
I'm on ACA live very frugal and the cost is $100 a month.
@@reneesoli5345 Guess I need to find a broker? I have no idea how to start.
@@jonathanjacques7250 yeah, that's better than what I was quoted.
I worked 30 yrs for a Public Health agency and when I retired at 60 I had enough time vested so that my and my spouses health insurance was fully covered until I switch to Medicare at 65. Most people don't get this. New employees dont get this coverage anymore.
Unfortunately ppl have different paths and economic conditions. Some times ppl cant even afford to retire
💯 🎯
So glad I found this channel, love the stories you tell 🙏
thank you for these tips
My pleasure Suzy!
Thank you for this fantastic video. Many of the points you brought up resonated with me; especially, after a very difficult day at the office today. My gut instincts weighing "fight or flight" tell me to run especially after the loss of five people (family members and two very close friends) in less than five years. I want to read more than 150 books before turning that last page.
Glad it was helpful! Food for thought and then on to planning!
My Mum died at 29 and my Dad at 78. I am 65 now and transitioning from work to retirement. It’s a shock after 44 years without a break. No idea how long I’ve got but I doubt it’ll be until 90. Thank you, thought provoking.
Hi! Thanks for chiming in. I invite you to keep an open mind and aspire to live past 90! Don't settle for the average, and that's why 90 is the number!
Thank you so much.
This was an excellent video! I like how you explain the pros and cons of retirement in such a personal way. Very informative information!
Thank you! Glad to help.
At one point i really look forward to retirement, now not so much. Having a balance work life is working for me. Being able to see my friends and family every weekend is enough. I planned my life out where it works for me while I am still working. Thinking about vacationing constantly year round sounds exhausting.
Wise words. My mother worked in a high school and retired at 65. She really only had about 10 years of a quality retirement before dementia started to show at 75, she went into high care in a nursing home by 79 and passed away at 82. She saved and planned for her retirement for many years and made wise investments. She was very healthy and vibrant. It was such a tragedy, so much of her savings went to paying for her 24/7 care. She did travel in her 60s thankfully. Take care everyone