Retirement Update - We blew the budget
ฝัง
- เผยแพร่เมื่อ 11 ก.ย. 2024
- Two months into my retirement journey we’ve encountered some unexpected surprises.
One of the biggest shocks was how quickly we exceeded our budget. In this vlog, I’ll share the reasons behind this and explain our strategies for getting back on track. 😊
#themeparkbazza #orlando #retirement #retirementplanning #retirementstrategy
I retired early 3 years ago at 52 yrs of age, best thing I have done in a LONG time. Reference two cars, we did have two cars but decided that the 2nd vehicle was an unnecessary luxury. We sold the 2nd car whilst it still had capital in it and banked the cash. Our view was that it was better to realise the value prior to depreciation really kicking in, and have it available in the bank should we need to rethink in the future. As you said monthly running costs mount up, and you really do need to think in terms of long term rather than immediate savings. I agree with having things to do in retirement, it is a big step. One thing I started doing when I finished was religiously walking 10000 steps per day, great for both physical fitness and mental health. Glad that you are both enjoying retirement, keep up the sterling work with your Vlogs :)
I have started swimming 20 laps of the pool every day
@@ThemeParkBazza Great idea, gotta look after yourselves (I could try that in the North Sea, but i'd have to dodge the sewage! :) )
🤣
Your such a lovely fun couple, thank you for your vlogs 👏🏻
Laughing at Maxine with the alcohol 😂😂, love the real life updates x
Oh yes , real life
I am turning 31 next week and you folks have helped me immensely on just being more cautious of my budget. Thank you!
Happy birthday for next week, be cautious but don’t forget life is for living
You seem like a lovely genuine couple. I hope people do not take advantage of your generosity. Love the style of your videos and am amazed at your life thus far that you document.
Max will keep us safe ! Unless they offer her booze :-)
@@ThemeParkBazza😂
My retirement was just last month. Having pre-tax income of $5.7 million, I did follow my one-time advice from Lois Jean Frueh Since I have an inherited $700k that I have to spend down in seven years, I had to do it all at once. I'm currently 59 years old. I have $3.5 million in Roth since I have a pension. Stocks worth $4.5 million are taxed. I'm starting to give my kids gifts now, as you stated, to help with a house down the road.
I am no longer suffering with rmd. Children receive it free of tax. The only thing my wife has is $600,000 before taxes, which I may need to convert at some point. I'm attempting to avoid paying for Medicare, but it appears like I will have to for a time. I am unable to even deplete my pension each month. excluding the remainder of my investments.
Sounds like you are in a good place
Even if it seems like you are in a position of freedom and have been strategic in your retirement planning with your adviser, I still look for her. When RMD time arrives, it's good not to have a partner (IRS) hanging over you. We hope the best for you!
I am now having trouble with this; I was unaware of it and have been locked in TSP since January. Thus, keep in mind that there are restrictions on the amount you can contribute to an IRA. Good job on your financial advisory I wish that money could be rolled over immediately because I detest TSP constraints.
Avoid paying medicare but your essentially a millionaire? Am i missing something? ......🙄
We retired to Rhodes Greece 10 years ago and for the first 3 years we were in a similar situation as you, whereby we had friends and family come on holiday over here and we would eat out and drive them around..in the first 3 years we used to have visitors at least 4 times in the season so you can imagine how expensive that was for us as they had saved for there holiday, whereby we still had to live here...we love florida and the parks and we are coming over in September we save for 18 months and dont eat out in order for us to come to Florida....love your vlogs and look forward to your next one
Thank you Dawn
Another interesting vlog Mr & Mrs Bazza..... some great observations about retiring early, and the adjustments that you make when you have loads more time. I live on a golf course and have found that as we get to know more and more people here, the time and money spent at the 19th hole has increased !!!!....but that is all part of the fun of living here. Keep up the great content
That’s great you have found a purpose to fill your time, the social change a lot of people do not understand until it hits them
Give yourself some grace too…it’s a massive adjustment to learn how to spend differently. Takes months to learn new habits. True friends will appreciate your honesty with regards to your budget and be thoughtful and respectful of this.❤
Yes! Thank you!
LOL Max you’re a woman after my own heart. A cheeky nip always helps take the edge off ❤️ You’re both going through a huge transitional phase & change is never comfortable. All the unknowns! You’ll get there guys. Takes a minute to readjust to a new norm. You make a great team & that’s half the battle won ☺️
😊 thank you
I managed without a car for years when we couldn’t afford one. I managed but it was a massive adjustment. I walked everywhere. Walked every day to shop because I couldn’t carry any more than a day or two shopping. No online shopping then. It actually wasn’t too bad. Made me be a lot more active and healthy. Some things were difficult, but I got through it. Made me appreciate my car when I did get one again. You’d still have one car so I’m sure you’d be fine with one.😊
I think so as well
My wife and I retired 2 years ago (I was 62, J was 56). We had two cars for about 6 months but finally decided to drop to one as most of the time (like you have said) only one car was ever in use. We have got used to dropping off, if the other actually needs to use the car whilst other is going somewhere for a time (i.e. if I’m at a church meeting). But in truth most of the time we rarely both need to use a car.
I think the idea that the car is a “quick cash source” if you suddenly need it, is actually just a justification (excuse) to keep 2 cars!
Since retiring, I have found that we are far less drawn to paying for a coffee/cake out and far happier to buy a cake etc to take home and make a coffee at home. I think the Starbucks thing is a symptom of the stress and time constraints of working.
With travelling, being retired means you can be flexible on both the time of year and the days of the week you travel which we have found can make very significant savings. Also, as you say you can be away for longer periods. We’re coming back over to Orlando in November and staying for a month; we’re not planning on doing lots of theme park stuff and staying in a villa means we will just be chilling and not necessarily spending a lot more than we would on the groceries at home (even though US groceries are a good bit more than in UK) and we will be saving on heating! Nonetheless, we too have exceeded our budget (primarily doing a bit more travelling than we originally intended because of our BA exec status) but you need to live while you can!
I agree with you about having a “purpose” and for me it’s allowed me to do more with my church; I think there are lots of opportunities to do some voluntary work (at your leisure) is a good thing as it gives you something to “get up for” and keeps you in some form of social interaction too!
BTW we met you in the Lounge at MCO a year or two back. Maybe meet up again on one of our Orlando trips. Good Luck and remember what Nick & Leigh say “everyday is best!”
Some great advice and things for us to think about Andrew, thanks
Hi Barry & Max
Loved the update on how you’re enjoying retirement but the best bit by far was when Maxine pulled out the bottle of vodka from the side of the sofa 😂 absolutely priceless and a woman after my own heart!❤️ 😂 xx
She has to do what she has to do
We have 2 cars. One is a new plug in Electric hybrid which we use if driving long distances or need to take suitcases like a recent road trip we did to Scotland. The other is a small Pergeot which is over 10 yrs old and only cost us £7000 when we bought it second hand in the first place. I mainly use the small pergeot to go up to our High Street as the parking spaces are so small and our new car could get scratched. It’s very cheap to run and convenient for when I want to meet up with friends or do shopping and Andy wants to play golf or go to the gym or go to his mates house to rehearse with guitars, so for us it’s not such a luxury. However when we live in Orlando for 9 weeks we would never need 2 cars as we tend to do things together.
As for food we don’t eat out every week either at home or in Orlando unless we have friends over to stay with us. When we lived in Australia they had a thing called a BYO Barbie where you invite friends around for a BBQ and they bring meat/food and wine. It was a cheap way of socialising as you don’t have to buy steaks for everyone.
Thanks for sharing the model that works for you, really appreciate it
Thanks for the update. I think Sell the car now because it will just depreciate. Be strong and put the money in a separate rainy day account.
Loved the first few seconds of this 😂
So did Maxine lol
@@ThemeParkBazza 🤣🤣🤣🤣
Hi Barry and Maxine, thank you for your honest (and funny) retirement update. We are around 2 years behind you and starting the retirement conversations now. I'm sure it is a big transition for you both! We enjoy your vids and looking forward to future updates. Best wishes to you.
Thank you and the best of luck on your journey!
We went down to one car and golf cart. Drive golf cart more than car. What I have noticed after 3 years of retirement is inflation has really hit us hard. Things are going up but our SS/pension raises do not keep up and no one talks about this. We call retention dept to get better rates or go with another company for phone, internet, car, house insurance. It pays to shop around. We travel in the shoulder season as rates are much better and go longer as the main cost is airfare. As you age you think about your health more staying active and getting the steps in are important. Time flys in retirement and you wonder where the days go. Enjoy your retirement you earned it.
We are more serious about our health, that’s one reason we put the pool in. We swim every day and try and walk we miles every day
This video is so helpful! I’m four to six years away from retiring, and it’s reassuring to know that I am already doing so many things right, like working on my side hustles. I cannot wait! 😁💕
I'm so glad!
I’m 45. Planning to retire in 5 years. For us the big thing was the little expenses. £5/15 here and there soon add up. We have made massive savings recently. Over £500 per month on insurance, phones, fitting a smart meter, subscriptions etc. those savings are paying for next years holiday to Orlando!! Where we want to treat you two to a lunch out!! Beyond that it’s all about retirement and enjoying life.
Happy retirement Bazza. Pleased you guys are finding your feet and adjusting :) we are big fans and love watching your adventures. Can’t wait to see you in September at your meet up fingers crossed.
Thanks for the retirement guidance, in our 30s with two little kids … it can be easy to delay planning for the future.
It’s phases of life , with young kids your demands are on them. Once they get older the next phase kicks in and then once they leave home that’s when you can really start focusing on retirement. We did not start serious planning until I was 50, so earlier would be better
Hubby retired before me at 64 to look after dad and I kept working for a year to live on my pay my hubby got his private pension ad I did when he was 65 and I was 64. So we had private pension coming in but we decided to give up a car and just have one between us. We did upgrade it so not as much to pull out for with it being new. We go out more for lunches or breakfast so that’s a small expense. It’ll get easier when your date pension comes in but then it doesn’t go up but bills do so you still have to factor for that. Enjoy retirement and life before you no longer can x
Thank you for sharing your your retirement journey
Andy like you has gone through the outgoings and made more of an effort to negotiate cheaper rates on things like car insurance and sky etc since he retired. He’s much better at that than me and now has the time. He was offered a pt job the other day with his old co but has said he definitely doesn’t want to go back even on flexible basis. We enjoy being retired as we can just go off to spend a few days away when ever we fancy without worrying about annual leave. We found out recently that both our kids are having a baby so we will be grandparents so I think being retired will enable us to spend more time with them.
Wonderful news on the grandkids ! I am the same regarding work, I have no interest in going back to the old industry
I'm happy for you both Bazza and Mrs. Bazza. I retired early, and it was the best thing I've ever done. I think that you don't really realise the stresses you're under at work until you leave. What seemed to be so important day to day in the workplace, you come to understand, is so petty in the greater scheme of life. Once you've left work, you can get a better perspective on these things and realise they don't matter. You can do whatever you want, whenever you want and you can take all day doing it!
PS, we still have two cars!
Great advice !
Very interesting and useful vlog. I’m 63 next year and constantly looking at my options for retirement - I can’t face the thought of another 4 years to get to state pension age in the UK ! Luckily I have a number of private pensions from various employments over the years that I can take at 65 so that is a help. One thing I’ve always done is keep a track of phone costs, internet, tv services and other subscriptions so we don’t bleed money in that respect (it’s the accountancy background 😉). Planning to go down to one car soon also as I work mainly from home and the wife works very local too - she also prefers driving my car as it’s an auto. Hoping to ease into retirement by reducing my hours and going part-time in the next year or so, so many things to consider though. I look forward to your next update. Ps - SIG 😉
The next vlog will be what we decide to do with the car
Glad you are enjoying your retirement. Jeff and I went down to 1 car in 2016. I worked from home since we moved to GA in 2015 and Jeff has been working from home since 2020. Although it's not time for retirement yet, getting rid of one big expense was a great feeling. And yes. We have rented cars for trips here and there to save on wear and tear.
Good feedback, thanks
Love the honesty as usual. I was in Pennsylvania for 3 years and we thought household bills were horrendous. I retired from the RAF 10 years ago aged 55 and not looked back. Florida twice a year and next one November. Enjoy guys 🎉
Our meet-up is Nov 9th if you are in town
Fantastic we are there from 6-27 Nov so definitely a plan 🎉
Were a one car family now. Sold the Toyota. Bought the new long range Model 3. So far so good because we never do long road trips. Usually fly and rent something. The cost savings have been significant. At least for us. We still keep the old Nissan Leaf in the garage for emergency's but its not insured and doesn't require maintenance except for keeping tires inflated. Driving without insurance is the least of my concerns in an emergency lol. Enjoy your retirement!
Very nice!
Excellent part two vlog of your retirement.
Barry, you're not getting under Maxine 's feet, haha.
The information you both provided was very helpful for people on both sides of the pond who are thinking of retiring early. The pros, cons, and pitfalls that can occur.
Well done, Maxine and Barry, for the great content.
Thank you for following our journey
Welcome too retirement 😂 Can relate to most of what you have said. We live in Blackpool and when we go out for a healthy walk there's always a pub at the end of it. More time to do things, but less money to do them.
We are still getting used to it as you saw
You will get used too it in time, we haven't looked back and often wonder how we had time to work. And yes we drink more.😂😂
I retired six years ago and my journey was EXACTLY the same as you’re experiencing but I must say you’re in a great place to be so mindful of the huge changes already - it’s a whole new stage of life that nobody prepares you for! You’ll finally accept the car situation - I went from a BMW (that I mourn daily) to a Fiat 500 but my logic tells me it’s the right step. You get better and better at managing what you have and the health and mental benefits of leaving a stressful job behind are immense. I love your haircut comment - to this day I’m fascinated that I can have a shower and get changed during the day 😂! Carry on enjoying yourselves - it’s a long journey to retirement and some people don’t have the luxury of good health to enjoy it xx
Thank you. Yes, we are very lucky to have even reached retirement. Still adjusting to this whole new world
Your experience reminds me of when I started to drive an EV. The range anxiety was so real and I can understand that when it comes to income. But I believe that these things balance out and then you accept the range and deal with it. So I would say - keep the two cars. Treat it as an emergency fund if needed. Btw loving all your vlogs and everything you both do. Thanks for allowing us to journey with you and learn from your experiences
Thanks, we are still unsure two or one
Hi I’m sure people would pay your meal just to be in your company we would we think your both great. Next year hope to bump into you again but will chat next time. Enjoy your retirement Baz. Take care Lindsay. 😊
Hopefully catch you next year
Maxine you and me both (drinking) lol barry I just listen to radio now, but I agree until you retire you don’t realise how much you bleed money on phone contracts music and tv subscription etc . I agree I miss the group of people I used to work with I miss the gossip or just offloading to someone that’s not your other half. Good video barry that can hopefully help anyone contemplating retirement.
I still prefer retirement
Ah that was a nice one. I’m sat here suppin my southern comfort and Max her vodka. Anther top vlog guys.
I am not retired, but we have always had two cars and at one point when my wife changed jobs and got a company car there was three. Our kids were just reaching driving age so that was handy. But the main point I wish to make is that we did need the two cars, until my job moved office and fortunately it was to our town, so I could walk or cycle to work. That has now changed since Corona and I have been in home office for the past four years. You do not need that second car. Sell it whilst the price is good, as you know it is only gonna lose value. My wife and I are similar to you guys. We do everything together. My car being the older one would sit outside the house, well until our youngest past his test. So what I am say is that I who love to drive and be mobile have never missed having my own car. We always go with the wife’s. I can’t think of a situation since not having it outside, that I was stuck or stranded without it. I’m sure if you give it another month you will see that it needs to go. It’s just a big paper cut as you put it. Save the money, invest it, do whatever. I swear you won’t miss that car. It’s all in the head.
Oh yeah. Why do Yorkshire people find it so difficult to say “tight”? I think you want to say that about the way you are spending your money and managing your budget. It made me laugh. I’m Scottish. Watch it! I know what you are thinking! I’ll set crazy Scottish neighbour on you! Anyways, my sister in law and brother in law are both Yorkshire. Yes I know. What were my brother and sister thinking! Back to the point. Well the “in law” brother and sister are both tight as a nats chuff! And that’s coming from a Scotsman.
That is all for now. End of transmission.
True cars are money pits
I retired at 65, went back to work at 65&2 months. Totally different job I went coaching. 1 to 2 weeks away at a time in hotels and loved it. (So did the missus) we didn’t need a second car got rid never missed it. I was 76 when Covid hit, the tour company went bust and put me into retirement again. Now I’m 80 and finally getting used to it, I reckon if I could load 50 cases I’d still be doing it, best job I ever had. Instead looking forward to seeing you in September, retiring ain’t as easy as some think. Love your vlogs and Max is a hero lol
So happy you found your purpose after retiring , a lot of people struggle with that . I have been lucky in that regard
My husband and I have both been retired 3 years and absolutely love it. Obviously money is tighter than when we were working but we still have a good life, we can't say we go without anything. We still eat out, just a little less than we did. If you have a good meal before going out there is no reason for all those snacks, healthier too!
A very good point, it’s when your friends want to go out and eat here in Orlando which charge tourist prices
@ThemeParkBazza I'm sure if they're good friends they wouldn't mind you saying you can't do it at times, after all they know you're retired now.
Actually our good friends paid for us this week saying “ we will get this, you are retired” . We bought the next round
@ThemeParkBazza enjoy your retirement on your terms, if you can't do it don't and I'm glad you have good friends like that.
Do as much as you can while you have your health. I retired 18 months ago unfortunately I have a problem walking which spoils things but hey could be worse so make the most of what you have.enjoy. 😊
That’s so true, we are planning to do our long haul air trips the next few years while our bodies can still stand the journey
We are so grateful for these videos. Only in our mid/late-40s and probably won’t retire for another 20 years but your advice has got us talking and planning for retirement. Feeling less daunted by the whole thing now and making changes that will put us in a stronger position down the line.
Small changes now will make a huge impact in your retirment finances
I retired at 66 after 40+ years as an RN,I have never regretted it,not even for one minute.I didn’t even renew my license ,so I can’t go back…I volunteer with the Lions Club,but am more than happy to be home alone(hubby passed away after only 2 years at home)I never get bored.We did sell one of our cars as we didn’t need two.I too got rid of Netflix,cable,kept my Acorn,Prime and Britbox and most importantly You Tube Premium!
Thank you for sharing that Margaret, I too do not feel any inclination to go back to work
Oh my gosh I was sitting here nodding my head as I watched your vlog! We too have not been able to pull the trigger on selling one car. We don’t need two now, but psychologically can’t let go. We grumble when the insurance bills come in and when we pay for the annual service, but not ready to let go yet. I am now just expecting to ‘know’ one day that it is time. We didn’t factor in getting two cats and the costs associated with that! Loving your vlogs, keep up the good work and loving the good life ❤
The struggle is real
Loving the retirement updates - I’m 31, but will definitely be using your tips going forward! Thanks!
You can never start planning too early , we started at 50
Hi Barry and Maxine. Thank you for sharing this information. I am not ready to retire quite yet, but I found this very interesting and educational. I feel like I may not ever be able to afford to retire. I wish I could go back and make better life choices from when I was younger. But hey, you live and learn right? Thanks again for all this info and Maxine's Vodka sips, were hilarious. ~Ali 🏰💝
We did no seriously start planning until about 10 years ago, so you have time
Interesting video and all very true……I retired a few years ago (early) and I’m loving it………lockdown helped and I just don’t go out as much any more and I kept my perfectly good car as a runabout. Iwill be coming over to Florida at the start of September where I rent a villa……..we started off having most meals out but now it’s just not sustainable, so apart from the odd trip to IHOP, it’s breakfast at home and shopping at Walmart to stock the fridge for lunches and dinner by the pool. Of course we go to Texas Roadhouse and Panera a couple of times as it’s fun. Can’t wait to be back over there again, especially after watching your videos
The weather will be wonderful in September
Oh my goodness! I think about $$ before I go out the door. Every time… every time I go out the door it costs money. So I try to stay in, eat food at home, be entertained at home. But those smiles on your faces make me think it’s probably gonna be just fine for you guys! Fun video! Thanks for sharing and yes it’s too hot to do anything.
Thank you
Great Vlog! I think you and Mrs. Bazza have started off on the right foot with your retirement. Speaking from experience, you will indeed run into situations that will need to be worked out, but I'm certain you will manage. And you are correct that a "side hustle" or a hobby is paramount. You will go crazy if you don't have something to do besides sitting at home. It's also not good for one's health! Money wise, I was lucky enough to retire early and took Social Security at 62, but since I was unemployed for 18 months in the early 2000s, I still have to watch my cash flow. I'm comfortable, but not flush with cash. It is what it is, I suppose. Anyway, here's to many more years of retirement bliss, Mr. and Mrs. Bazza!
I am planning social security and my GE pension at 62 to supplement my income and stretch my saving
@@ThemeParkBazza Sounds like a great plan to me!
100% related to everything you mentioned. It was if Ian and I were speaking out loud. We had 2 cars but mine was a company car so we now manage with a 15 year old Twingo and if we need to be in separate places at the same time we use Ubers ……Time and flexibility is the winner but yes it comes at a cost and you do have to keep checking yourself. We’ve cut back on our local dining out budget so that we enjoy our trips ….. but we too are over budget ……..but will pull it back …… Still think it was a good decision and enjoying every minute .
That's great. It helps us a lot to know we are not alone in these things
When I retire I won’t have that car issue as I don’t drive. I can’t wait til I get my free bus pass. Interesting video. Would be interesting to see regular updates.
We will post updates as we go forward
Another interesting Vlog Mr & Mrs. Bazza. Jayne & i were in the same situation when we retired 20 months ago. Jayne decided that when we were in Florida would eat as we did at home. No more meals out everyday, just occasionally.
Seems to work, I don’t feel as if I’m missing out and my waist thanks me for it.
I know exactly what you mean about the money not coming in, bit of a shock to the system isn’t it!
Looking forward to chatting with you both in September ❤️
I will be great to see you both again
My transition was easy for me , I retired at 56 and haven’t looked back ! I helped my sister on her 4 1/2 acres as it needs a lot of attention ! I set our budget and made sure I had a buffer ! We moved house so that kept us busy in renovations ! Keith is a cricket umpire so he threw himself into that !
Sounds like a great plan came together
Thankfully yes , you will both be absolutely fine ! Keith has his state pension now, but I have to wait until 2027 when I’m 66 1/2 , I factored that in lol ! We think we have two more visits to wdw and we will call it a day ! We plan to visit eastern Europe instead lol 😂
Thanks for another vlog, keep enjoying your retirement together and thank you for sharing some of your time with us with vlogs. Xx
Thanks for watching!
Mr and Mrs Bazza you're so funny, it is nice being retired we love it ❤
Thank you Sharon, we are still adjusting
Retired a year ago at 55, as you say best thing ever.
Agree with all your comments nice to hear them thought it was just me.
We ditched our second car straight away and adapted well we find a way around pretty much everything should things clash.
Money wise don’t be hard in yourself, yes you have to be more mindful but you’ve worked long enough, just keep one eye on tomorrow, but who knows how long we all have just go and enjoy.
Thanks, it’s good to know we are not alone in our worries
hi I can't wait to retired only 53.though it's stressful thinking about the money situation I get where your coming from but end if the day we only live once and enjoy every day .hope you and Mrs baza have a wonderful retirement together ❤
Thank you !
Great pointers. I retired a few years back so did go through withdrawal symptoms. Hubby retired 3 weeks ago. 1st thing we did was sell his car. It's been fine so far as you have so much flexibility. We used to holiday in Orlando once or twice a year but we don't anymore due to my health. I look forward to your vlogs as I miss it a lot. Please keep them coming. I also follow the Lodge Guys and the Disney Wives. Best Liz
It is a big mental adjustment for sure and getting rid of the car was tougher than it should have been really. We love the Disney Wives, never heard of the other folks though :-)
every thing you are saying makes complete sense, a bit here and a bit there. Ready for my social security, next July.. LOL Moved here from NY after a rotten couple of years - and always seem to be watching the pennies LOL. That's why I now want to grow my channel after all these years :) it all helps.
YT helps but it’s not a reliable income source on its own, we all know non of us understand how it really works :-)
You'll be good bazza.
Get some liquor down you, just a little though 😂
All the best my friend
Cheers
Hello guys this reply is for the vlog where you showed a snack haul from the U.K. at the end, sorry could not find the particular one. The video was brilliant throughout and the snack haul was so funny. Strange to us in the U.K. how you treasure certain choc bars that we take for granted. Keep the vlogs rolling, so much detail which is so informative, thanks for that. Have a great week.
Next trip we may film us going mad for pies and cakes in the supermarket when we arrive :-)
When my husband and I both started working from home, we decided to get rid of my car and we now share his! There are times that having a 2nd car would be handy, but I doubt we'll go back to having 2 cars again! Definitely worth the saving!
Thank you
Retiring early is great without a doubt but as you say it is hard getting your head round no longer receiving an income. My husband retired last year at 63 and we have been living on some money we put aside for this, so as not to touch our investments. However seeing this decrease every month is not a great feeling. I have recently looked at where we could save money and like you our phones were a great place to start. Sim only deals saved us £60 a month. We have 2 cars, again we really only need 1 but giving 1 up is still in the discussion stage! The plus side to early retirement is less stress, more time to do things we enjoy and time to spend with our new granddaughter.
We are in exactly the same place as you !
I retired 6 years ago but last year I went back to work for 8 hours a week and it has done me a world of good
I can understand why, especially for the purpose/ social aspect
Get a job as a school bus driver. Huge shortage of drivers. Get to meet loads of great kids and teachers. Can drive a school route or extracurricular stuff so you get to watch the kids play sports. Get the holidays and weekends off. You can work as much as little as you want. Make around $500 a week. Not a lot but it helps.
Thanks for the tips!
I think you’ve answered your own car position - sell one car, well actually sell them both to get rid of your electrics and go petrol for your long drives. Sure you can go car less and hire for specific journeys but my guess is you are locally still using the one car more days than you don’t use a car. I think to go car less you need to be living in an area with good public transport. Such as in UK within London boroughs. I live on the outskirts and have 2 routes with roughly 10 minute daytime intervals. I know people who live further in who have given up on car ownership due to parking costs etc. They often hire cars for weekend trips.
Ultimately you’ve found the realisation of a pretty fixed income and time to spend it! But the best thing is you are enjoying the retired life and long may that continue.
Thank you Alan, you do need a car here is the USA , places are a greater distance and there is no public transportation. Your only option is Uber
We are hoping to retire in the next couple of years, so some great advice there, thank you both. As you say you feel obliged to join friends for meals out because you have a bit more time on your hands now, whereas previously you’d have said no because of being at work or going into work the following day.
Keep the hints and tips coming or Mrs Jay might make us work longer 🤣
Have a great weekend both
Best of luck!
Ha ha very good it takes a little while to get used to retirement but enjoy while you can we got some lovely cruises done at the start and now very happy that we did as now hubby not well enough to travel but we have great memories enjoy
Thank you
Your a lucky lady max my man is 67 and still working away we have are own business and are kids are meant to be running it but he can’t keep his nose out off the business enjoy your retirement Barry and max enjoy the company I am very jealous
I will try my hardest to enjoy it :-)
love these vlogs we get to know so much about you both.
I was in two minds that Max had filled that with water 😂
Just over 50 here , it would be hard to retire but we totally get what you say about having a hobbie and keeping busy. Best thing will be spending the time together ❤️
Based on the smell wafting over, that was not water lol.
Really interesting vlog. Me and hubby are early fifties so in the planning for retirement stage so thank you for some of the tips.
My triple is rum too ! Mount gay XO is my fav 🥃 x
Start planning now, it’s fun
Thanks for the retirement update! Continue to enjoy your time together! 🇬🇧x
Thank you! Will do!
Great vlog as always! ❤ Maxine is hardcore, I could never drink straight vodka 😂❤ xx
And straight rum !
Really interesting as we retired about the same time a as yo u b oth and have almost Carried out the process as yourselves. It is brilliant and do not know how I had time to work. Although I may be causing my husband to drink more as we adjust 😂😂. Enjoy your time together and live watching you both ❤
That's awesome!
Appreciate your video. I am 52 and thinking about retirement, I don’t have that much saved for retirement. I have a 401k, but not much to live on. I am currently paying my daughter’s tuition in full each semester. I want to give her a clean slate when she graduates in 2 years. I plan to try and save after she is done, I am still afraid that I will not have enough…
We will do a vlog on the medical expenses we are paying to give you some idea of the money needed. That’s the biggest impact on when you can retire
Only just started watching,😅 loving it already
Thank you Jackie for following along
Maxine made me laugh out loud when the bottle of Vodka came out, love it, still laughing now 😂. Brilliant.
I’m interested to know which car you prefer, we have a model Y on lease and love it but got serious range anxiety going to the airport and back as had to detour. Watching your road trip also brought it home how tied you are to charging, would probably go hybrid next time. Great informative vlog .😊
We loved the Hybrid we had in the UK last trip so that’s the direction we will probably head
😂 the vodka . We’re at the same stage , but not retired yet. As you said , you’ll adjust. Just an adjustment until the pension kicks in. You 💯 made the right decision, enjoy every moment . Love your channel, you’ve a great attitude to life
Thank you , we are still adjusting slowly
Laughed my head off in the first two minutes. So funny.😂
Maxine enjoyed it lol
love the update, and the raw honesty of real life retirement. Maxine you crack me up with the vodka and the side eyes!!! love it hahaha
Thanks so much!!
Happy retirement, very interesting hearing your experiences of life after work.
I've just retired at 55 after 25 years working for the NHS. But unlike you I've retired, taken my pension , then returned. I'm continuing to enable us to have a few very nice holidays per year , while hubby works to pay off the mortgage. We've been used to frequent holidays, eating out whenever we want etc, so to give up completely ( for now) would mean giving up the finer things in life, and I love my job, so it's not a hardship
Sounds like a good balance to live your life your way
Great budgeting tips for those who are retired and for those still working too.
No doubt it’s a huge adjustment for you both so make the most of having this free time 👍
Yes watching some great cruising vlogs :-)
@@ThemeParkBazza Ha ha, touché 😉
Another excellent lifestyle /reality vlog. Thinking ahead to our retirement we went from two cars to one to reduced financial pressure, now cycle to work so get the additional health benefits. Also hiding the wife's credit worked for me.😂
You are a very brave man Martin !
I think you should definitely bit the bullet and actually sell both cars and buy a nice new as poss plug in hybrid best of both worlds. I’ve 17 years to go yet and I’m already of the mind set that we’ll go straight from 2 to 1 sensible car between us 👍🏻
We are still trying to work it out
Love the update , loved seeing you with Ben and David
They are a lovely couple of chaps. Hopefully hang out next visit
Hi guys, I love this type of video, I think it's just being more self-aware and being conscious about decisions, which is important when it comes to sticking within a budget, it's the same as if you were on a diet making conscious decisions, like am I going to have white bread or wholemeal bread, or when you're in the parks am I going to have a nice cake or am I going to have a cereal bar from my backpack 😂 I'm sure you'll figure it out and manage to get more within your budget!
It’s a work in progress , but we are getting there
I really enjoy your vlogs! You two are great. Thank you for sharing! ❤
Glad you like them!
We always had two cars when I was working but once I retired at 50 we sold my car and we just have one , we are even thinking once my husband retires maybe we won’t have a car … we will see 😅
They do coast a lot of money for sure
At the beginning of the year we started a five year plan to save, safe proof our home so that we can retire in our 50's. 6 months in and all is well. These retirement vlogs have been informative. ( must purchase vodka)❤
That's the most important thing :-)
You are so right, the little things make a big difference in the Long Run 🏃 Silly things like I was paying a monthly subscription for Asda deliveries….looked into it, now changed to a yearly subscription…..saved me £20 in the year…not loads but do this with everything and adds up 😊and done in a lump some, not losing the £6.50 a month…..great if you can do this ❤ Anyway….just enjoy your time guys, remember….EVERY DAY IS BEST ❤❤❤❤❤
Yes it is , thanks for watching
Great vlog! James and I can’t wait to retire.
Then the parties can really start, oh boy ! :-)
What a great video Maxine I’ve been the same since my hubby retired he likes coffee I like gin 😂😂
🤣🤣
Hi peeps 🤗🤗 retirement budget on paper is great 👍….then you go oops !!! what the ??? pour another 🥃 😂 ….you two are a lovely sensible couple xx
So true!
Good to hear how you are getting on and some useful tips. Thank you 🥰
Thanks for watching
To add sorry definitely agree with finding that little something to do when stepping out from the working world does help you adjust. Also helps find that other social circle that you will need, work colleagues will undoubtedly disappear it’s only natural.
Yes Social activities are a big deal after retirement
I retired early then retrained in nails which I love doing. I have a little home salon and it just preserves the savings a little. We said “we can’t be going to Costa every day! And what do we do? Go to Costa every day🤣🤣🤣. Xxx
That sounds about right 🤣
Great tips! Thx for the update. *We live off of $1720 Social Security per mo. in Calif w/ $1400 expenses* Live in a 1400 foot cabin on 8 acres 13 min to a very small town. DIY Solar powers: home, e-car & e-bikes 55-60% of the yr. 1k a mo. for gas for the generator 4 months a yr in winter *Monthly expenses: $335 power (its $1k a mo. 4 months a yr in winter) $30 Trash, $85 Prop. Tax, $15 TH-cam, $50 Car ins $160 Give, $100 Wifi/Cell, $115 Misc, $15 Medical, $150 Vitamins= $1400 per mo. Food not included. See 2nd post for food
Wow you really have that dialed in, congrats !
Pleased you're enjoying your retirement... a little tipple never did anyone any harm lol 😅
That’s what Maxine says
@@ThemeParkBazza 😆
We are semi retired. Myself 10 years my husband 15months. It’s a big adjustment to make. We still spend and travel like we are employed full time 😂. I don’t get pension for another 21 years and my husband 11 years . By then we should learn 😂
You certainly have time to work it out 🤣
@@ThemeParkBazza 😂😂
Hi Mr & Mrs Bazza, I have been retired for 26 years and I agree with everything you say. One thing I would add, is as you progress further into retirement your available funds do decrease quite rapidly. Things need replacing or repairing and eventually you find that you are unable to replace money paid out. So If like me, you live for 20 + years beyond retirement, be aware sooner or later the money runs out!!!
Please may I ask what your job was at RR. I ask as Yorkshire man.
I was I. Th3 electrical department in maintenance
I just went through a similar thing. I was shocked at how much I was spending on subscriptions. Now I subscribe monthly and then just cancel the subscription. I find that TH-cam is one of the ones that I always notice immediately and resub.
It’s amazing how quickly they add up
Great Vlog. I am of retirement age but still working 3 days a week as I live alone and my social interaction at work means a lot to me and my worry is how to fill my time when it’s just me. Probably start on the vodka like Mrs Bazza 😂😂😂
I don’t think folks realize the social implication of retiring until it happens to you
You have given us some food for thought… And we have already made some changes.
We also plan to retire soon.
😁
If you kids can make it work do it, looking forward to catching up again soon xx
@@ThemeParkBazza In my dreams Bazza 😂
Keep dreaming, you never know x
Enjoy yourselves...still waiting for your doggie to appear...hope you get a vote in the US election....❤🎉😮😊
Yes, we are US citizens, so we can vote
Thanks for the post i worked in aerospace for 45,years took early retirement and alot of my friends did aswell 3,mouths later the company rang asking most of us to come back on alot more money or part time alot do 2,days a week funny how they found the exact money to get us back
Amazing how that works isn’t it :-)