Being retired for two weeks now I feel everything that you are saying. The whole identity of who you are. "The new you " is a shocking reality not being part of a productive daily group and the ability to start bigger projects and not be time limited to finish them. Your advice has been spot on to prepare myself and what to expect. Your videos will continue to keep me in the know of what to expect moving forward.
Great insight for being so young. I planning on retiring at 59.5 yo next year but scared, I work 7 days a week, not sure what to do since all I did was work. But the problem I have is, I have 3.0 million in pre tax 401k. So I need to convert before rmd. Do I do it all in massive amounts in a few years, or smaller chunks overtime. If it grows slightly every year, then I’m not moving the needle to lower the pre tax amount. And I have probably 1.5 or 2 million or more in stocks. Pension for both of us. And I’m scared I won’t have enough, barely spend now. I just ordered a Tesla, huge event for me, still driving a 30 year old car with 800,000 miles on it daily.
I was ready for #1 & actually enjoy it. #2 will always be there. Shrug. #3 is much easier to harness now. #4 No problem whatsoever. I'm completely satisfied with a job well done, and part of my identity is in looking back at a job well done. The other parts of my identity have always been there and can now be nurtured to a greater degree. #5 is just so dang wonderful. Great perspectives, James. I enjoy your math- analytical mind, and your holistic viewpoints. The combination is all too rare.
I spend a lot of time writing in my journals. I have journals for everything. LOL. At this age, remembering things is a crapshoot. Better write it down. Yesterday, I was writing my retirement plan in my retirement journal. Today I was working on my investing journal.
@@davidless57 For a computer guy, it is funny how much I like writing using a fountain pen. But I also use the Apple iCloud a lot to share documents between my computers.
James, for your next episode, maybe you can talk about the unexpected perils encountered with the IRS and Medicare. For example, you might want to talk about the dangers of receiving lump-sum payments from employeers and the subsequent IRMA imposed by Medicare. For example, you might want to talk about tax consequences on the sale of your home. Lots of financial TRAPS imposed by the IRS and Medicare that folks are unaware of.
I have only been retired from work for only about 10 years and 8 months. We began SSI payments at about age 65. If all you want to do is leave work, it will be empty and disappointed. Every day is Saturday in retirement. You have to have hobbies or daily things to do to keep feeling busy and productive. It is much more than money and resources after you leave your career and the work world. Sitting in front of the TV drinking beer all day will kill you very fast.
The content of your videos is great! Most don’t address the non financial aspects of retirement which are very important. I’m 57 and have been retired 2 1/2 years. There are times when I am bored or feel like I’m not sure what to do next, but every day retired is 100 times better than a good day while I was working!! No regrets at all .
#3: then you're going to click on a James video which leads down a rabbit trail to other James videos where you learn some stuff, refine your thinking, but mostly confirm what you knew intuitively but have confirmed by one of the sharpest math & problem solving minds who thinks a lot like you do.
You would need to find the free or nearly free entertainments in your area libraries, walks, board games, arts crafts cooking gardening volunteering pets etc
You have to get a financial-advisor to aid you make more and diversify your portfolios to include commodities index funds and stocks of companies with solid cash flows as opposed to growth stocks when valuations were based on future potential earnings thereby ensuring a more financially secure retirement.
@@gregorridavichko Greetings from Ireland 😊 I've been trading for almost two years and I barely even have a profitable portfolio ever since I got in, every trade I've made has slapped me in the face lol. I can read your comment and I was wondering. Can you name your professional trader? Who do you trade with?
Being retired for two weeks now I feel everything that you are saying. The whole identity of who you are. "The new you " is a shocking reality not being part of a productive daily group and the ability to start bigger projects and not be time limited to finish them. Your advice has been spot on to prepare myself and what to expect. Your videos will continue to keep me in the know of what to expect moving forward.
Glad it was helpful!
Great insight for being so young. I planning on retiring at 59.5 yo next year but scared, I work 7 days a week, not sure what to do since all I did was work. But the problem I have is, I have 3.0 million in pre tax 401k. So I need to convert before rmd. Do I do it all in massive amounts in a few years, or smaller chunks overtime. If it grows slightly every year, then I’m not moving the needle to lower the pre tax amount. And I have probably 1.5 or 2 million or more in stocks. Pension for both of us. And I’m scared I won’t have enough, barely spend now. I just ordered a Tesla, huge event for me, still driving a 30 year old car with 800,000 miles on it daily.
I was ready for #1 & actually enjoy it.
#2 will always be there. Shrug.
#3 is much easier to harness now.
#4 No problem whatsoever. I'm completely satisfied with a job well done, and part of my identity is in looking back at a job well done. The other parts of my identity have always been there and can now be nurtured to a greater degree.
#5 is just so dang wonderful.
Great perspectives, James. I enjoy your math- analytical mind, and your holistic viewpoints. The combination is all too rare.
Always top-flight content from James Conole!
Thank you!
I spend a lot of time writing in my journals. I have journals for everything. LOL. At this age, remembering things is a crapshoot. Better write it down. Yesterday, I was writing my retirement plan in my retirement journal. Today I was working on my investing journal.
I use the notes in my I phone, but still journal when life gives me lemons
@@davidless57 For a computer guy, it is funny how much I like writing using a fountain pen. But I also use the Apple iCloud a lot to share documents between my computers.
Thank you!
6 months!
Solid advice.
Thank you!
Retired one year now. James nailed it.
James, for your next episode, maybe you can talk about the unexpected perils encountered with the IRS and Medicare. For example, you might want to talk about the dangers of receiving lump-sum payments from employeers and the subsequent IRMA imposed by Medicare. For example, you might want to talk about tax consequences on the sale of your home. Lots of financial TRAPS imposed by the IRS and Medicare that folks are unaware of.
I have only been retired from work for only about 10 years and 8 months.
We began SSI payments at about age 65.
If all you want to do is leave work, it will be empty and disappointed.
Every day is Saturday in retirement. You have to have hobbies or daily things to do to keep feeling busy and productive.
It is much more than money and resources after you leave your career and the work world.
Sitting in front of the TV drinking beer all day will kill you very fast.
Good info. Regardless of *what* you do, have a purpose and reason for each day.
Yes!
I know you’re reading a script, but your presentation is very natural and well delivered. Great to watch.
The content of your videos is great! Most don’t address the non financial aspects of retirement which are very important.
I’m 57 and have been retired 2 1/2 years. There are times when I am bored or feel like I’m not sure what to do next, but every day retired is 100 times better than a good day while I was working!! No regrets at all .
Very good information, not many planners talk about this aspect of retirement with clients.
Thank you!
Thank you, useful info as usual!
Thank you!
Great and true advice - thank you for your videos, your calm voice and great content!
Glad you like them!
Another excellent video!
Thank you!
great info. thank you. Always nice to have your insight. Retirement date first week of march.
Congrats!
My husband and i will be retiring July 6 2023
Glad it was helpful!
I'm retiring in July also.over half a century of working,I'm done.
Your comments are on the money 👍
Glad it was helpful!
Thanks for your great advice...
Some people try to turn retirement into work. Not me.
Yes!
#3: then you're going to click on a James video which leads down a rabbit trail to other James videos where you learn some stuff, refine your thinking, but mostly confirm what you knew intuitively but have confirmed by one of the sharpest math & problem solving minds who thinks a lot like you do.
I like to have no structure at
all in retirement.
If you don’t have a substantial amount of money saved up to entertain yourself and your spouse, be prepared to be very bored.
You would need to find the free or nearly free entertainments in your area libraries, walks, board games, arts crafts cooking gardening volunteering pets etc
@@kwkw5711 , Exactly, you don’t need to go to Europe to be happy! So much to do in your own “backyard”!
Depends on the person. Some need to be entertained constantly but, there’s tons of things to do around town that cost little to nothing.
You have to get a financial-advisor to aid you make more and diversify your portfolios to include commodities index funds and stocks of companies with solid cash flows as opposed to growth stocks when valuations were based on future potential earnings thereby ensuring a more financially secure retirement.
@@gregorridavichko Greetings from Ireland 😊 I've been trading for almost two years and I barely even have a profitable portfolio ever since I got in, every trade I've made has slapped me in the face lol. I can read your comment and I was wondering. Can you name your professional trader? Who do you trade with?
these so called five steps....apply to any change, at any age.....so, there is nothing new, here...