Yes because of stress and health. I've been working for 4 decades. I naturally prefer a modest lifestyle and do not want to travel because I had to for work. So my expenses are not leaning towards the consumer definition of luxury. I think luxury is being able to pick up a book at any point during the day!
@@yesiamsharon I am not that much of a traveler myself anymore. Once or twice a year for any trip(local or long distance) is enough for me. In my military and early corporate career, i travelled alot and am now a homebody.
I'm 59 and turning 60 soon. I got laid off with a bunch of other people at my firm. I was a little down (for about a day) because I was one of those people who did the right thing over the last 30 years. I'm now retired and love it. my assets being supervised for 8years plus has impacted a lot of exposure in nest egg (in excess of 2.8m), I say that because over those 30 years I was a personal finance junkie and listened to all my mentors (John Bogle, Warren Buffett, David Bach, sometimes Dave Ramsey) haven't spent any of my 401k, Roth IRA, or brokerage cash account. My SS and pension is so far adequate to meet my expenses. I don't want for anything, anyway. My kids will get my swag.
Cheers I love your viewpoint, I need a way to get ahead of my expenses and create more revenue exposure, I know for a fact that there's a lot of people that simply don't make enough, I make roughly hundred plus a year and in California, rent inflation alone eat up almost all of what I make, with dependents and other obligations included, it's easy to end up with zero. however it’s a good time to add to existing asset holdings as follow -on opportunities how did you go about touching base with yours, kudos on your growth so far.
you only have to put in the simplest terms to help you understanding tax, mortgage, emergency funds for cashflow interest. If you're looking for nest egg options or if you have any questions about financing your next property or assets building.
Then feel free to write Suzana markasevic her incredible earning interest will support you in making your home buying and benefits journey as smooth and stress-free as possible. Good luck staying debt free as much as possible in the future.
I decided to take the plunge 6 months earlier than previously planned. I finally broke the "one more year" syndrome and go for it. Only 10 more working days left! I'm so excited!
I turn 57 in January. Just drew a line in the sand for retirement at 59. My 59 th birthday coincides with my long service leave . I will have 6 months leave to take at 1/2 pay and have a gap year to reevaluate my life’s direction. Picking a date dropped a large amount of stress out off my life. Over the next 2 years I plan to transition into retirement. Nothing could be worse than going cold turkey on day one of retirement. I get 8 weeks a year PTO. Plan is to take 2 weeks off after every 10 weeks work and travel. Now that I have a date I am working for myself and not the company. If they decide I am not towing the company line and give me a separation payment all the sweeter as I have already switched my mind set.
Question is have is how much a month do you live on? My wife and I are the average middle class couple. Little unsure about insurance and overall cost.
Thank you for video. I agree with all of the 4 reasons. I am planning to retire June 2025 which is also my 60th birthday month. I've planned and looking forward to retirement in June.
Great points and inspiring! Looking at retiring this January as I’ll turn 58. Been working since graduating high school and achieved my degrees through night school. Public certified as well on the side all well raising kids and maintaining a family. Many sacrifices and really looking forward to everyday being a Saturday!
Hi! What’s your recommendations on: - utilizing an advisor at 1% to manage retirement account assets - hiring a CFP to produce a comprehensive financial plan - using a robust software platform (like Boldin) to either supplement or replace professional services?? I’m seeing lots of advice out there and it’s difficult to try to cover all bases AND try to lower fees and costs. Thanks!!!
Steve, only you can make that decision for yourself. I personally am not keen on paying someone 1% to manage my portfolio. Most of the retirement planning software have a free trial period. Perhaps give it a try and see how it feels. Or you could hire a fee only fiduciary (who isn’t trying to sell you something).
Your 4 reasons are spot on, great job! I retired at several years ago at 60. I will admit though, everyone else my age is still working. I find myself playing up the fact that I am tackling large projects of concrete work alone, chain sawing large trees down, or building some structure. People do assume you lack ambition because you are not working. And immediately think of work you could do for them! I often fend off job offers etc. Men are even more likely to wrap their self-worth and identity around their job. My own identity felt lost even before retiring from my job when I retired from the military. I still wrestle with that. Retiring early was always the plan and I do love it. But losing identity and that socially recognized purpose is a very real thing.
Thanks so much for sharing! I hope you continue to overcome that identity struggle! I know it can be touch, but it does sound like you are doing fantastically well!
@@superman9772 Talk about exactly! I live on 25 acres here too! Mostly hayfields and creek bottom but 25 acres in the middle of nowhere. Yeah, life is good!
Hi! I have insurance through The Marketplace. I've created a video explaining the options and you can check it out here: th-cam.com/video/m0_HbpIKLE8/w-d-xo.html
I've been a teacher for 34 years. I've gone part time this year and plan on finally calling it a day at the end of this academic year - at 59. Exhausted to the bone and just know its time to go - got plenty to do when I retire but still hard to take the leap as you worry about the money - even though I've done numerous simulations and know we will be OK. I'm in the UK so NHS covers healthcare.
@@roblowry9457 Being a teacher is really hard work. My 32 yr old daughter is an elementary school teacher and comes home exhausted. Good for you for retiring at the end of the year, you will really enjoy it
I'm so appreciative of people that are still working and I show it when I see them, but that doesn't mean I need to feel bad or worthless for not being 'productive' as a younger retiree. Another great video, thank you!
Just found this! Great comments! It’s always about knowing AND understanding your expenses. I have counseled many on the benefits of early retirement and retirement in general. The key, is know what you need to spend and make sure your income streams can support that.
I guess now that I am 61, it isn't really all that "early" now, but I am coming to a decision soon after 40 years in the workplace and appreciate what you have to say on the topic. I enjoy your positive outlook.
Just want to thank you your words make it a little more decompressing as far as the decision. I don’t have an emotional attachment. I’m just waiting for 8% more which is three more months from now that was my goal. However, I am 65 and will be 66 in March And supposed to go another 10 months beyond that which I cannot do I’m trying to hang in there till my birthday in March and you make it seem it’s OK to do it in March. I thank you for that because many people around me want me to wait the extra 10 months beyond thatand I cannot thank you thank you thank you I’ve made my decision
Good episode ! I’m living the life I always wanted, farming and enjoying it most of the days, even if workload can be crazy. Although still young at 49, wife is 63. We could retire instantly, but we’ll more likely slow down and choose to keep the jobs we like.
I retired at 59 from a very stressful job as a RN. I had a really bad day at work and at the end went right to HR and quit. Best decision I ever made! I am expecting my first Grandchild in one month and really looking forward to spending quality time with her. My husband still works, not the we need the money it’s because he absolutely loves his job. He plans to go part time soon so we can do some traveling on the off season as I really hate crowds. Love your channel ❤
55 year old RN here!! I am fried from nursing but cant afford to retire. I always say the job is going to kill me and I mean it!! Congrats to you! Now you can start really living!!
My mom is an RN, started working in the field at 14, is 65 now. She “retired” but still goes in occasionally when they call her to fill in for her work friends that need time off. It gives her guilt free extra money she spends on vacations. Honestly, the days she works she is fried. I can’t see her doing it much longer, but I’m happy she at least cut back a ton. They call her all the time, and she has resorted to not answering the phone because otherwise she has to hear a really sad story and can’t say no. I love that she is always going somewhere, has a wonderful boyfriend, and has time to work out and care for her own health. That’s priceless
@@Rachel-ul8et Good for your mom. It's not easy being casual because you will get called in daily (maybe even multiple times a day) but it is nice to be able to not HAVE to go to work. I hope to go casual in the next few years and choose when I go in. I hope this is a lesson to the younger generation to think about retirement savings at a younger age. TFS
I turn 55 next week and have been thinking about retiring. I have a great pension, cheap healthcare and well above average retirement savings. Our youngest daughter is a junior in HS, so I’ll probably wait till she graduates before stepping out. Looking forward to it!
Great points Trina. Early retirement isn't for everyone, but it sure was for me. I retired two years ago at 58 and it was one of the best decisions I ever made. I loved my career, but I had a very high-stress job, and I was on call 7x24 for 25 years. Shedding the stress and controlling my own time are both priceless. I didn't lose my purpose when I left the workforce, I gained a new purpose that better aligns with my interest and values. I now live a much better life, filled with freedom, family and adventure. Bret
I retired recently because I was laid off from my job and then spent 2 years looking for another job with no luck, so at this point there is no reason to try to find a job for just another 2-3 years so I've decided to retire. Now I am just waiting for my husband to retire in 6 months so that we can begin enjoying our retirement.
My hesitations are the common ones. Do i have enough money. I am almost 57 and I have a pension and insurance kicking in at 60. I think I can retire at 59 but may hold out until 60. I have a side gig that will cover any gap between my pension and expenses. I really think i will end up having too much money. I have already started living at my retirement budget and continue to look at my numbers to see when i can pull the trigger on retirement. Knowing I could retire soon as removed alot of my stress as the thought of losing my job has less power over me than at any time in my life. I enjoy your videos.
Sounds like you are doing great! It's smart to stress test your retirement budget before you actually retire. I think you are well on your way to a great retirement!
Hi! I have insurance through The Marketplace. I've created a video explaining the options and you can check it out here: th-cam.com/video/m0_HbpIKLE8/w-d-xo.html
My husband and I are ready to retire at 62 and 63, but I cannot figure out health insurance! He is diabetic, not on insulin but on expensive meds and I can't figure out how to find insurance that will cover his meds. That is literally the only thing holding us back.
Goodness! Have you looked into The Affordable Care Act for insurance? Premiums are based on income. I found it to be quite affordable. Maybe it will be for you as well.
I'm enjoying your videos and its making me ponder retiring sooner than I thought. 58, I have a pension, 457b, and savings with my house paid off, so several buckets. I would have to live pretty frugally if I did it now. But I've got a six figure income, and work a pretty easy job four days a week from home so I'll probably work a couple more years and build my SS, pension, and 457 a little more.
@retirethisway yes I have a co worker who worked until 65 and now wishes he would have quit a couple years sooner. I'm thinking two or three more years.
Very persuasively stated! The one thing that has kept me from retiring early is the high inflation and cost of living, especially in my home state of California. But I feel I've made a good progress with my savings and investments the past couple of years and am planning to retire within the next 6-8 months at the age of 63, which is four years prior to my full retirement age of 67.
My prior co-worker could have retired many years ago. Today, he is in the hospital and the email from the boss says, it is not life threatening and he should be back in a few days. He had diabetes and now his liver is failing and he may have to go on Dialysis. He has a ton of money and a paid off home.
Don’t you consider working part time with a low stress job like libraries or bookstores? Keep you active while still having some health insurance coverage
Amen! I decided last Friday that im going to retire at 59. 1.5 years to go. I'm not going to have as much per month as do now, but I will have enough to not have to worry about a place to live or paying bills. Can't wait!!!
You and me both. But I have 2 years 1 month and 3 weeks. Feels so good to have a date. I started account down in January. Get excited watching every week roll off.
@@ChilliPepper-n2b You forgot to state how many hours, minutes, and seconds before you retire. :). I have less than a year to go and am trying hard not to count weeks, days, etc., because doing so makes the time pass slower.
@@meemka8251 108 days/76 business days until I retire on Feb. 28th, 2025. Not counting the hours, minutes or seconds but definitely counting the days! 😁
I've been planning to retire in April. Now I'm afraid of inflation. We'll check with our financial advisor, first, but I'm trying to overcome my fear. I love your channel. Honest and pleasant and inspiring.
There will always be inflation. The key is to have no mortgage and no car payments. Regular day to day living with no work clothes, no commute, no wear tear of your vehicles isn’t that expensive.
Up to a few years ago I was more ambitious about getting more business. Now I’m more ambitious about more free time. I’m now almost 55 and a half, and I plan to have the option to be fully retired by or before 59.5; that’s a little more than 4 years from now. Whether we have 300k or 500k by then, I’ll manage and make the necessary adjustments. Over 1 year ago I began the gradual transition of working less and delegating more. It’s amazing how working on average 8-13 hours a week less can make. I believe having a paid off small home, no car payments, and living a simple life will make it possible and give us an advantage over the consumer minded crowd.
I hit 56 and the corporate motivation just seemed to leave me. Time off is more important and I dont let work get me. Finding my retirement date/dollar amount is my goal now.
Retiring early is great if you have a pension, a 401k, and some savings. But if you didn't plan ahead you're gonna have to keep working and depend upon social security to cover you.
During the last 4 years my energy bill to heat my house and to pay for electricity has jumped to the double so is now $6.000 per year. It has competely taken me by surprise how the green transition has hammered my private economy. Now I am worried that the energy prise will further increse as well as my property tax has also now aproached more than $4.000 per year. I still owe $150.000 on my house so I get more and more depressed when I see all these videos about early retiement, as I feels so tired and are starting to look forward to friday on monday mornings. I am not sure I will be able to take a vacation day during the christmas and newyear.
I'm sorry you are having a hard time. Develop a plan for how much you will need in retirement, and then see where you stand. Perhaps you are in a better position than you realize.
@@retirethisway My pension took a hit of 22% in 2022 due to some incompetent investments made by my pension company. Then I decided to takte over the investment myself and I positioned in some very risky but high yield bets which turned out to go against me again. So I have allready a vision of the situation
@@thorsrensen3162 Well I admire the fact that you have ran your numbers and are able to clearly see and accept where things are going. This could mean that the early retirement that is talked about here is something that may have to wait for a regular retirement age. you gotta have that mortgage at zero. The host here says she is quite comfortable with mortgagee dept in retirement, she doesn't seem to want to acknowledge that mortgage dept in retirement is 100% toxic for most everyone. You have options going forward but this channel will not help you. You just have to lower the dept. and push retirement time out a little.
Absolutely! Creating a list of fixed costs is a great way to get a clear picture of your finances. You might discover some surprises along the way, just like I did!
She said you were too young? If someone serves our country in the military immediately after high school they can retire in their forties. Would she have a problem with that, too?
@@retirethiswayAha that explains it. The algorithm keeps suggesting your videos to me, and I think it's a new person each time, but I'm already subscribed and recognize you after the video starts playing. I didn't think it was you in the thumbnails.
Good points. My target is EOY’28, & I’ll pull that in as finances allow. My retirement goal is driven by annual cash flows from dividends vs total assets, so my scenario is my own.
I and my wife are both 60. She's a realtor and does online auctions so is self employed. She can work as long as she wants. For me, I've done 40+ years in the tech and defense research worlds. I'm TIRED but still love what I do! I'm trying a "no Fridays until year end" plan and I like it a lot. I work alternating Fridays typically but have a ton of vacation saved up so can try this without impact to paycheck. I may very well keep this permanent as a part-time transition and retire end of next year, 2025. The money is there, debt-free and mortgage will be gone by then but losing the routine and relationships with very interesting and smart colleagues will be a shock to my system, I just know it. If markets tank (doubt it, but certainly possible), I don't want to retire into a declining financial condition. But, I can make more money, but I absolutely cannot make more time. Nice channel you have. Thank you.
Have you considered an early retirement, or do you have any hesitations about making that move?
Yes because of stress and health. I've been working for 4 decades. I naturally prefer a modest lifestyle and do not want to travel because I had to for work. So my expenses are not leaning towards the consumer definition of luxury. I think luxury is being able to pick up a book at any point during the day!
@@yesiamsharon I am not that much of a traveler myself anymore. Once or twice a year for any trip(local or long distance) is enough for me. In my military and early corporate career, i travelled alot and am now a homebody.
I’m late to early retirement, but at 66 years and 9 months I am going to do it 12/31/24!
🎉🎊 congratulations!! I am so excited for you!
I'm 59 and turning 60 soon. I got laid off with a bunch of other people at my firm. I was a little down (for about a day) because I was one of those people who did the right thing over the last 30 years. I'm now retired and love it. my assets being supervised for 8years plus has impacted a lot of exposure in nest egg (in excess of 2.8m), I say that because over those 30 years I was a personal finance junkie and listened to all my mentors (John Bogle, Warren Buffett, David Bach, sometimes Dave Ramsey) haven't spent any of my 401k, Roth IRA, or brokerage cash account. My SS and pension is so far adequate to meet my expenses. I don't want for anything, anyway. My kids will get my swag.
Cheers I love your viewpoint, I need a way to get ahead of my expenses and create more revenue exposure, I know for a fact that there's a lot of people that simply don't make enough, I make roughly hundred plus a year and in California, rent inflation alone eat up almost all of what I make, with dependents and other obligations included, it's easy to end up with zero. however it’s a good time to add to existing asset holdings as follow -on opportunities how did you go about touching base with yours, kudos on your growth so far.
you only have to put in the simplest terms to help you understanding tax, mortgage, emergency funds for cashflow interest. If you're looking for nest egg options or if you have any questions about financing your next property or assets building.
that's fantastic!
I'm glad to hear you have done so well for yourself!
Then feel free to write Suzana markasevic her incredible earning interest will support you in making your home buying and benefits journey as smooth and stress-free as possible.
Good luck staying debt free as much as possible in the future.
I decided to take the plunge 6 months earlier than previously planned. I finally broke the "one more year" syndrome and go for it. Only 10 more working days left! I'm so excited!
That is so exciting!! Congratulations! 🎊🍾
Great point, I struggle with that.
Yes!!! I totally agree. I recently retired and I’m enjoying every moment. I even started a new TH-cam Channel!!! ❤
Congratulations!! That's awesome!
I turn 57 in January. Just drew a line in the sand for retirement at 59. My 59 th birthday coincides with my long service leave . I will have 6 months leave to take at 1/2 pay and have a gap year to reevaluate my life’s direction. Picking a date dropped a large amount of stress out off my life. Over the next 2 years I plan to transition into retirement. Nothing could be worse than going cold turkey on day one of retirement. I get 8 weeks a year PTO. Plan is to take 2 weeks off after every 10 weeks work and travel. Now that I have a date I am working for myself and not the company. If they decide I am not towing the company line and give me a separation payment all the sweeter as I have already switched my mind set.
That is a fantastic retirement transition plan! Congratulations! 🎊
I retired at 57. It's been 5 years and it was the best decision ever.
Fantastic!
What did you do for insurance?
Question is have is how much a month do you live on? My wife and I are the average middle class couple. Little unsure about insurance and overall cost.
Great advice!
Glad it was helpful!
Thank you for video. I agree with all of the 4 reasons. I am planning to retire June 2025 which is also my 60th birthday month. I've planned and looking forward to retirement in June.
That's awesome! Retirement and your 60th all at once? You’re gonna have one epic celebration! Cheers to all the adventures ahead!
Great points and inspiring! Looking at retiring this January as I’ll turn 58. Been working since graduating high school and achieved my degrees through night school. Public certified as well on the side all well raising kids and maintaining a family. Many sacrifices and really looking forward to everyday being a Saturday!
Wow, you’ve worked hard! I am excited for your retirement! It’s right around the corner.
Hi!
What’s your recommendations on:
- utilizing an advisor at 1% to manage retirement account assets
- hiring a CFP to produce a comprehensive financial plan
- using a robust software platform (like Boldin) to either supplement or replace professional services??
I’m seeing lots of advice out there and it’s difficult to try to cover all bases AND try to lower fees and costs.
Thanks!!!
Steve, only you can make that decision for yourself. I personally am not keen on paying someone 1% to manage my portfolio. Most of the retirement planning software have a free trial period. Perhaps give it a try and see how it feels. Or you could hire a fee only fiduciary (who isn’t trying to sell you something).
Your 4 reasons are spot on, great job! I retired at several years ago at 60. I will admit though, everyone else my age is still working. I find myself playing up the fact that I am tackling large projects of concrete work alone, chain sawing large trees down, or building some structure. People do assume you lack ambition because you are not working. And immediately think of work you could do for them! I often fend off job offers etc. Men are even more likely to wrap their self-worth and identity around their job. My own identity felt lost even before retiring from my job when I retired from the military. I still wrestle with that. Retiring early was always the plan and I do love it. But losing identity and that socially recognized purpose is a very real thing.
Thanks so much for sharing! I hope you continue to overcome that identity struggle! I know it can be touch, but it does sound like you are doing fantastically well!
that sounds exactly like me... i got 25 wooded acres "out in a hollar, just past the last briar patch in nowhere, USA"... life is good !
@@superman9772 Talk about exactly! I live on 25 acres here too! Mostly hayfields and creek bottom but 25 acres in the middle of nowhere. Yeah, life is good!
@@emerycreek8016 well, enjoy the free pancakes at denny's tomorrow (Veteran's day).. i know i will... Semper Fi
Great! I’m curious about the medical insurance coverage at early retirement. Please, share your experience with this. Thanks a lot
Hi! I have insurance through The Marketplace. I've created a video explaining the options and you can check it out here: th-cam.com/video/m0_HbpIKLE8/w-d-xo.html
I agree that why i did it at 35 life is too short to keep working for others
35, that’s awesome!
I've been a teacher for 34 years. I've gone part time this year and plan on finally calling it a day at the end of this academic year - at 59. Exhausted to the bone and just know its time to go - got plenty to do when I retire but still hard to take the leap as you worry about the money - even though I've done numerous simulations and know we will be OK. I'm in the UK so NHS covers healthcare.
@@roblowry9457 Being a teacher is really hard work. My 32 yr old daughter is an elementary school teacher and comes home exhausted. Good for you for retiring at the end of the year, you will really enjoy it
Sounds like you are ready! The key to retirement success is having a plan you are comfortable with.
I'm so appreciative of people that are still working and I show it when I see them, but that doesn't mean I need to feel bad or worthless for not being 'productive' as a younger retiree. Another great video, thank you!
Well said!
Just found this! Great comments! It’s always about knowing AND understanding your expenses. I have counseled many on the benefits of early retirement and retirement in general. The key, is know what you need to spend and make sure your income streams can support that.
well said!
I guess now that I am 61, it isn't really all that "early" now, but I am coming to a decision soon after 40 years in the workplace and appreciate what you have to say on the topic. I enjoy your positive outlook.
I’m so glad I can be helpful!
Amazing dear. Can you clarify at which age you started taking your retirement savings so seriously??
It was a gradual change, but I kicked into high gear in 2020!
Subbed! Congrats!
Welcome aboard! So glad you are here!
Just want to thank you your words make it a little more decompressing as far as the decision. I don’t have an emotional attachment. I’m just waiting for 8% more which is three more months from now that was my goal. However, I am 65 and will be 66 in March And supposed to go another 10 months beyond that which I cannot do I’m trying to hang in there till my birthday in March and you make it seem it’s OK to do it in March. I thank you for that because many people around me want me to wait the extra 10 months beyond thatand I cannot thank you thank you thank you I’ve made my decision
I’m so glad I could be helpful!
Such a wonderful video. Your presentation style is always engaging but this one was particularly sharp and witty. Thanks!
Glad you enjoyed it!
Good episode ! I’m living the life I always wanted, farming and enjoying it most of the days, even if workload can be crazy. Although still young at 49, wife is 63. We could retire instantly, but we’ll more likely slow down and choose to keep the jobs we like.
Slowing down and transitioning into retirement is a lot easier for some. Abruptly stopping can be a bit jarring for those go-getters out there!
@ I saw my dad doing it, going from 110 MPH to a complete stop, and he felt to depression. Have to go for it gradually.
I retired at 59 from a very stressful job as a RN. I had a really bad day at work and at the end went right to HR and quit. Best decision I ever made! I am expecting my first Grandchild in one month and really looking forward to spending quality time with her. My husband still works, not the we need the money it’s because he absolutely loves his job. He plans to go part time soon so we can do some traveling on the off season as I really hate crowds. Love your channel ❤
55 year old RN here!! I am fried from nursing but cant afford to retire. I always say the job is going to kill me and I mean it!! Congrats to you! Now you can start really living!!
Thanks for tuning in! And I am so happy you are enjoying your retirement decision! Congrats!!
My mom is an RN, started working in the field at 14, is 65 now. She “retired” but still goes in occasionally when they call her to fill in for her work friends that need time off. It gives her guilt free extra money she spends on vacations. Honestly, the days she works she is fried. I can’t see her doing it much longer, but I’m happy she at least cut back a ton. They call her all the time, and she has resorted to not answering the phone because otherwise she has to hear a really sad story and can’t say no. I love that she is always going somewhere, has a wonderful boyfriend, and has time to work out and care for her own health. That’s priceless
@@Rachel-ul8et Good for your mom. It's not easy being casual because you will get called in daily (maybe even multiple times a day) but it is nice to be able to not HAVE to go to work. I hope to go casual in the next few years and choose when I go in. I hope this is a lesson to the younger generation to think about retirement savings at a younger age. TFS
I retired early in 2019. My wife is finally joining me in FIRE Dec 2024!
Great channel!
That’s something to celebrate!!
i did get a chuckle from your description of the work day lunch ... seems you got a sense of humor as well as good advice...
Thanks Superman!
I turn 55 next week and have been thinking about retiring. I have a great pension, cheap healthcare and well above average retirement savings. Our youngest daughter is a junior in HS, so I’ll probably wait till she graduates before stepping out. Looking forward to it!
I think that is a smart plan. Congrats on some great planning!
Health insurance is the biggest concern for me.
That's a big one for many. Check out this video that details some options to consider. th-cam.com/video/qJhcEYwSG8U/w-d-xo.html
Great points Trina. Early retirement isn't for everyone, but it sure was for me. I retired two years ago at 58 and it was one of the best decisions I ever made. I loved my career, but I had a very high-stress job, and I was on call 7x24 for 25 years. Shedding the stress and controlling my own time are both priceless. I didn't lose my purpose when I left the workforce, I gained a new purpose that better aligns with my interest and values. I now live a much better life, filled with freedom, family and adventure. Bret
Well said! I too was on call for years. Absolutely hated it!
Thank you for validating what I thought was right! It’s time 😊
You are so welcome! And congratulations!
My mom retired at 63. Got cancer. Died at 65. If we only knew what the future holds we could plan accordingly
I’m so sorry about your mom. 🤗
I retired recently because I was laid off from my job and then spent 2 years looking for another job with no luck, so at this point there is no reason to try to find a job for just another 2-3 years so I've decided to retire. Now I am just waiting for my husband to retire in 6 months so that we can begin enjoying our retirement.
It will be nice when he is retired too!
My hesitations are the common ones. Do i have enough money. I am almost 57 and I have a pension and insurance kicking in at 60. I think I can retire at 59 but may hold out until 60. I have a side gig that will cover any gap between my pension and expenses. I really think i will end up having too much money. I have already started living at my retirement budget and continue to look at my numbers to see when i can pull the trigger on retirement. Knowing I could retire soon as removed alot of my stress as the thought of losing my job has less power over me than at any time in my life. I enjoy your videos.
Sounds like you are doing great! It's smart to stress test your retirement budget before you actually retire. I think you are well on your way to a great retirement!
I have hesitation about medical insurance options at early retirement. Please, share your experience.
Hi! I have insurance through The Marketplace. I've created a video explaining the options and you can check it out here: th-cam.com/video/m0_HbpIKLE8/w-d-xo.html
My husband and I are ready to retire at 62 and 63, but I cannot figure out health insurance! He is diabetic, not on insulin but on expensive meds and I can't figure out how to find insurance that will cover his meds. That is literally the only thing holding us back.
Goodness! Have you looked into The Affordable Care Act for insurance? Premiums are based on income. I found it to be quite affordable. Maybe it will be for you as well.
I'm enjoying your videos and its making me ponder retiring sooner than I thought. 58, I have a pension, 457b, and savings with my house paid off, so several buckets. I would have to live pretty frugally if I did it now. But I've got a six figure income, and work a pretty easy job four days a week from home so I'll probably work a couple more years and build my SS, pension, and 457 a little more.
You are in a great position if you love your job. Just be careful... that 'one more year' trap can keep you working too long if you are not careful.
@retirethisway yes I have a co worker who worked until 65 and now wishes he would have quit a couple years sooner. I'm thinking two or three more years.
Very persuasively stated! The one thing that has kept me from retiring early is the high inflation and cost of living, especially in my home state of California. But I feel I've made a good progress with my savings and investments the past couple of years and am planning to retire within the next 6-8 months at the age of 63, which is four years prior to my full retirement age of 67.
Thanks for sharing! I am happy you have a plan and will be able to retire soon! That’s fantastic!
My prior co-worker could have retired many years ago. Today, he is in the hospital and the email from the boss says, it is not life threatening and he should be back in a few days. He had diabetes and now his liver is failing and he may have to go on Dialysis. He has a ton of money and a paid off home.
Wow, that’s too bad!
Don’t you consider working part time with a low stress job like libraries or bookstores? Keep you active while still having some health insurance coverage
Those are great options for sure!
Amen! I decided last Friday that im going to retire at 59. 1.5 years to go. I'm not going to have as much per month as do now, but I will have enough to not have to worry about a place to live or paying bills. Can't wait!!!
That is fantastic!! I am excited for you!
You and me both. But I have 2 years 1 month and 3 weeks. Feels so good to have a date. I started account down in January. Get excited watching every week roll off.
@@ChilliPepper-n2b You forgot to state how many hours, minutes, and seconds before you retire. :). I have less than a year to go and am trying hard not to count weeks, days, etc., because doing so makes the time pass slower.
@@meemka8251 haha life is to short to count hours minutes and seconds.
@@meemka8251 108 days/76 business days until I retire on Feb. 28th, 2025. Not counting the hours, minutes or seconds but definitely counting the days! 😁
I've been planning to retire in April. Now I'm afraid of inflation. We'll check with our financial advisor, first, but I'm trying to overcome my fear. I love your channel. Honest and pleasant and inspiring.
Yes, that fear is real! I really work on staying optimistic, and it has helped me a lot!
There will always be inflation. The key is to have no mortgage and no car payments. Regular day to day living with no work clothes, no commute, no wear tear of your vehicles isn’t that expensive.
My plan is to drop down to, two days a week as soon as possible
That's a great plan!
I agree on all points -- well done. Keep the negative and jealous voices away for true bliss.
Yes!
True
Up to a few years ago I was more ambitious about getting more business. Now I’m more ambitious about more free time. I’m now almost 55 and a half, and I plan to have the option to be fully retired by or before 59.5; that’s a little more than 4 years from now.
Whether we have 300k or 500k by then, I’ll manage and make the necessary adjustments. Over 1 year ago I began the gradual transition of working less and delegating more. It’s amazing how working on average 8-13 hours a week less can make. I believe having a paid off small home, no car payments, and living a simple life will make it possible and give us an advantage over the consumer minded crowd.
Love this David! Mindset is so important!
I hit 56 and the corporate motivation just seemed to leave me. Time off is more important and I dont let work get me. Finding my retirement date/dollar amount is my goal now.
@maxmuller1585 That’s exactly my thoughts as well!
Retiring early is great if you have a pension, a 401k, and some savings. But if you didn't plan ahead you're gonna have to keep working and depend upon social security to cover you.
For sure!
During the last 4 years my energy bill to heat my house and to pay for electricity has jumped to the double so is now $6.000 per year. It has competely taken me by surprise how the green transition has hammered my private economy. Now I am worried that the energy prise will further increse as well as my property tax has also now aproached more than $4.000 per year. I still owe $150.000 on my house so I get more and more depressed when I see all these videos about early retiement, as I feels so tired and are starting to look forward to friday on monday mornings. I am not sure I will be able to take a vacation day during the christmas and newyear.
I'm sorry you are having a hard time. Develop a plan for how much you will need in retirement, and then see where you stand. Perhaps you are in a better position than you realize.
@@retirethisway My pension took a hit of 22% in 2022 due to some incompetent investments made by my pension company. Then I decided to takte over the investment myself and I positioned in some very risky but high yield bets which turned out to go against me again. So I have allready a vision of the situation
@@thorsrensen3162 Well I admire the fact that you have ran your numbers and are able to clearly see and accept where things are going. This could mean that the early retirement that is talked about here is something that may have to wait for a regular retirement age. you gotta have that mortgage at zero. The host here says she is quite comfortable with mortgagee dept in retirement, she doesn't seem to want to acknowledge that mortgage dept in retirement is 100% toxic for most everyone. You have options going forward but this channel will not help you. You just have to lower the dept. and push retirement time out a little.
@@ericlee2931 thanks but i have 16 years back before i am debt free.
Draw up a list of fixed costs & work out your minimum budget you might be surprised
Absolutely! Creating a list of fixed costs is a great way to get a clear picture of your finances. You might discover some surprises along the way, just like I did!
I always hear early retirement, but what is the ideal age for that ?
That's a great question! In my opinion, it's any age before you can start collecting social security.
Now😁
@ChilliPepper-n2b haha my dream. I believe between 50-55 matches my exit strategy.
She said you were too young? If someone serves our country in the military immediately after high school they can retire in their forties. Would she have a problem with that, too?
Good point!
Just curious, is the picture you choose on the video a younger you?
There are two thumbnails I am using for this video, one is me without makeup and natural hair. The other is with dyed hair. 😃
@@retirethiswayAha that explains it. The algorithm keeps suggesting your videos to me, and I think it's a new person each time, but I'm already subscribed and recognize you after the video starts playing. I didn't think it was you in the thumbnails.
It’s about having cash. Still need it until the economy turns around.
Definitely!
I don’t have enough money to retire.
Can you set up a savings plan so you can work towards retirement?
Good points. My target is EOY’28, & I’ll pull that in as finances allow. My retirement goal is driven by annual cash flows from dividends vs total assets, so my scenario is my own.
Great!
I and my wife are both 60. She's a realtor and does online auctions so is self employed. She can work as long as she wants. For me, I've done 40+ years in the tech and defense research worlds. I'm TIRED but still love what I do! I'm trying a "no Fridays until year end" plan and I like it a lot. I work alternating Fridays typically but have a ton of vacation saved up so can try this without impact to paycheck. I may very well keep this permanent as a part-time transition and retire end of next year, 2025. The money is there, debt-free and mortgage will be gone by then but losing the routine and relationships with very interesting and smart colleagues will be a shock to my system, I just know it. If markets tank (doubt it, but certainly possible), I don't want to retire into a declining financial condition. But, I can make more money, but I absolutely cannot make more time. Nice channel you have. Thank you.
Thanks Brian! That’s a great transition plan. Sounds like you have set you and your wife up well for retirement!