The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
I think most people want to try out a financial advisor, but the amount of information on the internet is overwhelming. Could recommend any good one(s)?
I retired from a busy and stressful corporate life at age 65. I migrated straight to Phase 4 - clearing invasive weeds and regenerating degraded / infested rainforest opposite our home. Found complete enjoyment and immense satisfaction. Two years later I have cleared around 7 acres of invasive species and witnessing the return of natural rainforest flora and fauna which had previously been choked out. I have enlisted other retirees as co-volunteers. Never been happier and fitter. Can’t wait to wake up for the next days efforts including photographing and cataloguing species I am finding…
Great simplicity, learn, play with Grandchildren, help poor children in Oaxaca where I live. Help with Permaculture in schools, visit friends. Thanks for sharing
I’m six months into retirement. Age 61. I’m single and not bored at all. I keep a daily routine of small projects, exercise, reading, coffee, humor (Laurel & Hardy), puzzles, my cat, houseplants, music, piano playing.. I’m good for now !!
I really liked this video because it confirmed for me what the majority of people think about retirement: that you will quickly get bored because of lack of a routine, and will struggle to find a way to replace the meaningful parts of your life when you were working. When I was nearing retirement, many people told me that I would be disappointed after I retired due to boredom, and I told them that I didn't think that would be true for me, but that I would let them know if they were right sometime down the line. I retired at 62 after working full-time for 40 years, and immediately felt the freedom of not having to keep to anyone's schedule but my own. My wife and I have been retired for 12 full years now, and neither of us has spent ONE SECOND being bored. We aren't wealthy but we have enough to pay our bills and have a little more fun. We love going on vacation, usually just a drive to a different city, and sometimes a flight to Hawaii or Florida. When we're not travelling, we have our own hobbies that keep us busy. My wife likes gardening, making jewelry, and cooking. I like music, golfing, and photography. We combine our hobbies sometimes, like when she helps me with my photos on vacation as she's learned to take great photos with her camera, or when I help her cook and develop my own favorite recipes. Best of all, our retired life IS our new routine. We have all our meals together and watch TV from 8 to midnight most evenings. We sleep on our new schedule, 2 am to 10 am, and are both sound sleepers. Fortunately, we are both healthy and have a fitness workout 3 times a week that helps keep us that way. In short, our Phase 1 has lasted WAY longer than the average 1 year he spoke about, and to be honest, I think we're still in Phase 1 after 12 years. Maybe it's because my hobbies are not something that you master quickly enough to get bored. Golf is something you never master, you just keep trying to hit good shots, and if you really like to play, you keep practicing in order to hit more good shots. I've played guitar for over 50 years, but I never had the time to get really good at it. But now I can practice much more and have improved a lot more in the last 12 years which is very gratifying. It inspired me to try to learn to play piano at age 71, which was a real challenge. After 2 years of instruction, I am nowhere near any good, but I do get better the more I play. So much more so, that I play piano every day now but only play guitar once a week. I guess my main point here is that not everyone is going to experience these 4 phases, so if you are nearing or new to retirement don't think that it's automatic. Do use these concepts to guide your retirement planning but make your golden years your own in your own way. If you need to make life more meaningful, follow some of his ideas. If you're happy to be free of the 9-to-5 grind and don't feel depressed or adrift, just continue to enjoy it.
I think retirement is state of mind and we can be in whatever phase we want. Sounds like you have found a superb balance of enjoying what you do and gone straight to phase 4!
The glass is always half full, loved reading your positive appraisal of life in retirement. I started an outdoor cleaning business when I was 60 and full intend to keep cleaning into my 70s. I’m 65 now. If I’m not working outside, I’m managing the business inside (invoicing, accounting, digital marketing etc) or cooking dinner for my wife and I (she’s younger than me and works four days a week). Our three day weekends are all about walking, birding and getting ingredients for our meals. Grandchildren on the way too! I think you get out what you put in and having a positive mindset is a great constant 👍
Retirement becomes truly rewarding when you have two key components: a solid financial foundation and a clear sense of purpose. Making wise investment decisions is crucial to achieving strong returns and enjoying a secure retirement.
Rising costs have impacted my original plan to retire at 62, work part-time, and grow my savings. I can't help but wonder if those who navigated the 2008 financial crisis had an easier time compared to the challenges I’m currently facing. Market volatility, combined with a lower income, has me concerned about having enough for a comfortable retirement.
You’re absolutely correct-financial advisors have access to strategies and opportunities that aren’t always available to the general public. I earned £560k in 2022 with guidance from my fiduciary advisor. Am I cashing out? Definitely not. I’m taking a step back to watch how the market evolves.
I completely agree-having a professional manage my investments has been invaluable. My job doesn’t allow time for in-depth stock analysis, so I entrusted an advisor with my portfolio. I’ve been fully invested since the COVID-19 outbreak, and I’m happy to say my portfolio has grown fivefold in just five years, reaching nearly $1 million.
I consistently recommend Rebecca Lynne Buie as my top choice. She is well-known for her expertise in financial markets and has an impressive track record. I highly endorse her services.
I’m 66, divorced and retired for several years, alone but not lonely! Workout everyday , bike ride along the river, hiking and fishing. Top it it off with lots of travel. And read a couple books a week. Life is good.
Retired now for almost 23 years. My advice is take care of your health and finances. Travel wasn't on my list of things I wanted to do, I did plenty of that during my working years. Get and stay healthy ! Stay mobile as long as you can, normal weight, good diet, reasonable exercise (physical and mental exercise). Help others when you can but don't become an enabler. Mobility becomes very important as we get older, eyes, ears, balance, dexterity and the strength to do what we want. Many of the people I know (probably most) have prediabetes or diabetes type 2 a lifestyle disease that can and should be controlled by diet. Relatives, relationships, beware of toxic personality people. Help them if you can but be ready to detach if you can't. Each of us are individuals but these things will apply to all us.
I am 70 almost 71. Have been a nurse 50 years this year. Have loved every day of my career. I did critical care with infants, children, adults and the elderly. I payed attention to all I cared for. I get check ups EVERY year along with my lab work etc. I don’t take any meds. Keeping healthy is like having another career. You have to work at it. I see all the preventable illnesses that people have and a good majority don’t have to be that way, most have brought the illnesses on themselves. Having preventable illnesses is EXPENSIVE. That money you saved for retirement is now funding the ill health you should and could have controlled. By the way I still work.
@@louisel.sinniger2057 Yes, I agree. If you are diagnosed with CKD, how often should you do bloodwork? My current PC thinks once a year apparently. I disagree. Your thoughts?
@@notedrockhistorian4382 Hi. Well, let me say this. If I was diagnosed with CKD I would hook up with a Renal specialists. I know, I know, a specialist?! PC’s are good however when you get into specific organ problems it is a good idea to be evaluated and followed by a Specialist. THEY are the ones that know specifically how often you should have lab work. But, it also depends upon what those specific labs look like. Hope this helps.
I retired once and couldn’t take it. I went back to work. I am a retired hospice nurse. I worked six more years in hospice and it was the best time of my forty five year nursing career. It depends on how prepared you are, mentally, financially and physically. You MUST stay healthy and in shape physically. After two years I am finally happily retired. Being physically fit and healthy really makes a difference. To my younger friends I say, save more money and eat less sugar.
Wow, I still wonder if I retired too early at 66. Luckily, my workplace allowed me to continue working part time, which I am still doing 3 years later. I think that was a transition that made the whole thing easier for me, but I am thinking of letting it go. I am introverted also-although I think that just means I want peace and quiet and time to do all the things I love doing.
I retired at 57 after many years of very hard work. I'd simply had enough of people, clients,coworkers and most of all fellow commuters. I didn't know I was an introvert until I could sit still! It wa a huge adjustment and very difficult a first but now I love it!
On the very afternoon I retired from 45 years of engineering, I drove down to the Bridge to Excellence in my local town to become a tutor and mentor to at risk middle school and high school students. I also help run the cafeteria. That was three years ago. I spend my evenings brushing up on concepts of mathematics and English composition on TH-cam. That very Monday at 5:00 pm, I ended my engineering career and started my tutoring and mentoring career.
The Men’s Shed movement, begun in Australia, is excellent for old guys helping each other and helping the community. I’m a retired builder and teach woodwork to our members and make quality wooden toys for the community.
I love this - excellent presentation. I consider myself to be very fortunate. I was able to retire at age 59, and I just turned 70. I've thoroughly enjoyed all of that retirement time. But it may be different for me. I'm extremely introverted, but for some reason often found myself in management positions. Parts of it I loved, e.g., being a resource for individuals and helping them reach their potential. But the rest was exhausting - meetings, being around some people trying to puff themselves up and impress others. I had no desire to try to do any of that. Then I retired. What a blessing! I live in the foothills of the Rocky Mountains, so I was able to resume my duties watching the clouds and monitoring the mountains - well, because somebody has to do it. I report weather events to the National Weather Service, keep track of the birds, deer, bears, mountain lions, and moose. I'm also blessed with a wonderful wife, two wonderful sons, and two rather exhausting grandsons (ages 4 and 1). I've also done a fair amount of editing of various types and taken apart quite a few old pocket watches (getting them back together is a different issue). Of course there are some downsides. I'm unable to play guitar and bass (I've played since I was 13) due to severe arthritis in my hands, and I'm no longer able to enjoy boating in the Great Lakes as I once did due to issues with balance - I'm not too eager to fall overboard. I have no problems with being alone (I'm never lonely) and "squeezing all the juice" out of the quiet and beauty that surrounds me. And I still keep in touch with friends from my younger days who are important to me. We just pick up our relationships where we left off. My family has always been more important than my career, and I think that's what helped me prepare for retirement (though it did not help my financial progression). I also developed many interests and hobbies outside of work. I certainly understand and know people who have had problems adjusting to such a major life change as retirement. But hang in there and listen to the excellent advice presented by Dr. Moynes - you'll get to Phase 4. PS - Apologies for the long post; the words just came flying out of my fingers...
I've been retired for 5 years. Whenever I look at age related activity groups, all I see are boring old people doing boring things. I think, is this me, seriously, when did I get old? At 68 I'm more about throwing my motorcycle on the back of my motor-home and spending weeks in the mountains, not bridge or mahjong. As soon as I can find a 'retirement activity group' doing this I'll sign up, but sitting around saying 'go-fish' seems like a death warrant.
I’m with you! When I retired I immediately started caring for a horse on a farm a couple of towns away, five mornings a week. I now go there three mornings a week and have added volunteering for a local horse rescue where I sling manure. LOl I have zero plans to buy a home in a retirement community to play mah jong in the clubhouse. It’s important to stay connected to younger people in my community. I went Sky-diving for my 60th birthday last year. For fun I trail ride on Clydesdales, read books, and plan future travel. I want to day hike the Pacific Crest Trail that is near my daughter’s home in Oregon. I haven’t experienced the stages described in this wonderful talk. I’m out the door earlier in the mornings than when I was working!
@@dianemcq64a purpose is key , I started a company and run the company, I recommend two things that people can do is a small company becomes a source of income as well as purpose , 1) What your job was you can pursue or 2) what you love hobby. I suppose the limited success is my experience also , but the MOVING ON abilityis key. So much opportunity, retail is the easy quick adventure to start with so many products out there , recognise a gap and fill it. Making some money will inspire growth.
Just accept that you are not important. Not when you are working, and not after retirement. Just do what makes you happy and be the person that makes you happy.
Fellow introvert here and I couldn't agree more! I retired at age 50 about 5 years ago and absolutely love living on my small horse farm doing woodworking projects all day. Just me and my animals. Heaven!!
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I worked in a very toxic work culture but was too terrified to look for another job---the pay and benefits were terrific, and both my boss and my (now ex-) husband kept telling me, "Who'd hire you?" Finally, at age 67, I was downsized out. After awhile I moved into a seniors facility that is like being on a permanent cruise. I've been retired now for almost 9 years and for the first time in my life I'm actually happy. I feel like I'm "resting" from all the bad stuff in my life, and there was a lot of that. I no longer care about "finding meaning" in my life. The thought of working fills me with horror. And frankly, I STILL can't wait to get up in the morning. I do what I please, when I please and with whom I please. There is no one to get approval from any longer.
Kudos to you! The relief you must feel waking each day knowing you don't have to tolerate insufferable people (bosses, former mates, etc). And here: "I no longer care about "finding meaning" in my life,"
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
Is there anything like proof recession stock? I am 58 years and would like help in managing my retirement portfolio which is currently $1.25M...down from a high of $1.67M….
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
@@DarleneMurphy774 True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of $550k...that's like 7times more than I average on my own.
Your comment has me remembering when I told a mother of one of my sons' friends that I was retired...she looked at me in disbelief, and I said "I made my mark."
Western society, particularly in the US, puts so much emphasis on 'doing' and 'producing' that it is no surprise some struggle with retirement and seek to confirm their self worth by 'doing something' even in retirement. I have been retired for about 5 years now and notice that with some retirees there seems to be a competition to show who is more active or doing more charity work, etc. Kinda the same as when they had their 9-5 jobs but just without performance plans. I do agree establishing a routine is beneficial in retirement. For me it is pretty much daily exercise, yoga (including mediation), trying to learn spanish, cooking, etc. and some volunteering on the side. There is a huge mental component to being OK without 'doing stuff' to prove your self worth. It is so great being able to do what you enjoy without the hassle of trying to squeeze it in around a 9-5. But I think I am most happy when someone asks me what do I do with all my free time and all I say is 'just being happy'.
Yeah I’ve been retired a couple of years. I do miss the routine and contributing to the broader society but I’m happy doing things for my immediate family for now. I don’t miss dealing with staff and customers.
Bingo. Yes, I was struck how there wasn’t a single word about deepening own’s own spirituality, or maintaining physical vibrancy. That alone can be a “full time job!” ;)
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
It's recommended to save at least 20% of your income in a 401k. 'Joseph Nick Cahill' taught me to estimate how much you should save based on your age and income. I've been with him for years now and his decades of experience in the markets translate to chunks of value in so many ways! he has upscaled my portfolio and even got me reading self help books haha
Joseph Nick Cahill is his name. He is regarded as a genius in his area and works for Empower Financial Services. He's quite known in his field, look-him up.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon!
I retired less than 2 months ago and am already in Phase 2. Had no idea of the mental challenges I'd feel. This talk was perfect medicine for me to keep trying until I re-find my place.
Yes I am over 2 years retired but due to covid and isolating it's tough to get out there. Travel by vehicle has been great but I am still struggling with anxiety regarding getting on a plane. So more travel and finding more community are my goals for 2023. It;s definitely a process and to keep trying new things and new people with similar interests. I think you can go from one phase to another and back again.
I retired at 56 and my advice to everyone one is retire as soon as you can life is too short you never know if you will be here next week stop saying I’m gonna…… do it it was one of the best and easiest things I have ever done
Glad you found it so. When I retired as an employee and started to work for myself, my friends envied my "freedom". Yes, it WAS freedom, but it was freedom to create my own discipline. There were times I really didn't like my new boss, but he was absolutely necessary. And he knew my dodges and copouts better than my previous ones. I suspect the same will apply as I come into my actual retirement.
Never a worry for me. My husband had numerous hobbies…physical ones, brainy ones. Still downhill skied in his 70’s, sailed, Tai Chi….astronomy, RC gliders, and MORE. At 78 a brain aneurism took him suddenly. He went out on a high….active, doing what he loved. I’m the one that’s dealing with loss. I’m 85 now and life seems to be one long exercise in letting go.
shirleyclemmer3: Your husband seems to have been such a positive influence in your life and he’s still in your thoughts and therefore still by your side now. Consider carrying on his legacy of vitality and positivity with your own twist/stamp on it. Wishing you well.
At 8 years into my retirement, I feel no loss at all and I still enjoy every day as much as the first. Living alone and having a broad range of interests, as well as a never-ending stream of ideas to explore, boredom has never been a problem for me. I still fondly love saying that, when you're retired, every day is Saturday. Having never identified myself by what I did for a living really makes a positive difference.
@@teresitaabad2962 Sure, Teresita. It's quite common, especially with men, to derive ther identity from their work. In other words, for example, I was an architectural/engineering draftsman for 31 years. That was what I did for a living, but that is not who or what I am. I have always had many other interests and I identify myself more with those other interests (artist, photographer, writer, etc) than I ever did as a draftsman. What I did for a living was not who I am. Men (some women, as well, I would imagine) are in the habit of answering the question, "what do you do?" with whatever their occupation is. This is especially true for professionals, like doctors or lawyers. So, many men's identity as a person becomes an extension of what they do for a living. When they retire, they go through a crisis of identity because what they are is wrapped up with what they do. It can be unbearable for some men, as their whole life IS what they do for a living. I've never had that problem. While I was making a living as a draftsman, I never answered the question, "what do you do?," or especially, "who are you?" with the name of my occupation. Now, in retirement, I think of myself as a photographer more than anything else, even though I've never made my income from photography.
I retired at 52 and am the happiest I've ever been. Never felt any of these things mentioned. I slept till noon for a month, just totally exhausted. Then I sat outside on warm days with the sun on my face and said to myself this is what I missed. Loved it!
Yes, I felt almost traumatized after the last few years of teaching and it took months to kind of feel like I had healed a bit. Now it is wonderful and the world is my oyster.
So you think that what is baloney for you is baloney for others? Thanksfully, for society's sake, some of us need a purpose in life beyond our own pleasure.
I am 75 years old and 10 years into retirement. All of it spent in phase 1 with a smattering of phase 3. After a working and personal life of service to others, I'm done with that! I'm the focus of my 'service' now and lovin' every minute of it! But I am glad you have found a system that works for yourself, too.
Great video, Another factor to add is Do they spend a lot of time planning their financial future? The majority of people do not engage in planing for their future
You missed the whole point of this video- He explicitly says this not about financial planning. My father had a great financial plan, but once he got to phase 2, the loss of connections, routine, power, etc, he sunk into a depression and ended his life. He had plenty of money, he didn't have connections or sense of purpose. He would have been better off working until they took him out of his office on a gurney.
Lately, I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $800K in the stock market, experiencing fluctuations without substantial gains.
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management
Opting for an investment advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 45% since Q2.
My retirement motto is " simple living, simple thinking "! Enjoying a totally relaxed lifestyle. Focusing on my health, and well-being, things that I enjoy doing such as exercising, cooking, shopping, researching online, vlogging, and spending the evening watching the glorious sunset while drinking my favorite brewed coffee followed by late evening 'happy hour' with my favorite chilled beer or gin n tonic, popcorn, tuna salad w/boiled peanuts garnished with chili oil, onions and tomatoes, and olives! When asked what are you doing nowadays I reply that I am Totally Retired! Practicing the art of doing Nothing but enjoying the Stillness and beauty of Mother Nature and delving deep into myself, contemplating, meditating, realizing how wonderful this world is, and truly appreciating the finer things in life.
A month ago I placed a comment on this, and advised that I'd had around 75,000 views on my on videos of Retirement. Today, I can tell you I now have around 86,000 views and over 1,000 subscribers. This is not only an indication that I'm succeeding in my aims for helping more people (I'm 87 and have been retired for 28 years) but there is a huge demand for this sort of subject matter. Keep it up, Riley. People need you.
Excellent, excellent, excellent. I’m 73 and 3 years retired. My phase one was Covid 19 so missed the travel year and went straight into phase 2. It was a tough 2 years. Not only the loss of friendships, power, routine etc but the isolation of Covid was devastating. Got thru it and now I’m going to do my Phase 1 this year. Thanks for you great perspective.
Good for you. Some people seem to have to be “worthy” or what they see as worthy. I do what suits me. Nobody can tell me what to do anymore. I go through these phases regularly and then move on to another phase and back again maybe. 😂
I began the process of retiring a few months before my 55th birthday when I got a corporate buyout. But I just transitioned to doing work that I enjoyed. I became a college professor, and didn’t fully retire until the middle of my 71st year. But I spent those 16 years preparing for retirement, taking long vacations and traveling in the summer. I was working half the hours I put in during my corporate life. After finally retiring, I spent three years of frequent travel, then CoviD hit. But I had books I wanted to read and other interests, so it wasn’t too bad. The tough part was physical aging. I had physical limitations that stopped my skiing, running and sports activities, I was losing my hearing to the point of having difficulty in conversation and limiting many other activities. 65 to 75 is the “young old” age group. At 76, you are just entering the “old” group, and will find yourself losing activities that you enjoy as you move toward the 85+ “old old” demographic. Even if you succeed in staying in phase one, it will become challenging.
Same here, Meredith. Retired for 6 years and apparently still on ¨phase 1¨. At the beginning I had some sense of loss but it didn't last long. New relationships pop up. New routines are built. Of course, we are all different. Some people have forged their identities based on their jobs and that's understandable. But in general, I couldn't disagree more with what is implied in this lecture.
Phase 1: Vacation phase, lasts about 1 yr 3:45 Phase 2: Loss and lost, lose the big 5, routine/identity/relationships/purpose/power divorce/depression/fear/decline 4:48 Phase 3: Trial and error, searching for meaning, contribute, failure 6:35 Phase 4: Happy, reinvent, rewire, answer questions-mission, activities, accomplishments, service 8:38
Retirees facing financial challenges often couldn't save enough during their working years. Retirement decisions play a pivotal role. Despite my parents having similar years in civil service, my mom invested with a wealth manager, while my dad relied on his 401(k). As a result, my mom retired with approximately 3.7 million, whereas my dad retired with around 1.4 million
I believe it's something I should pursue, but I've been procrastinating for a while. I'm uncertain about which firm to choose; they all seem similar to me.
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
“NICOLE ANASTASIA PLUMLEE’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I have been retired since 2003. It is all vacation to me. I spend 4 hours per day on-line, continuing my education, and keeping up-to-date on the latest science. With my freedom, I like to travel, and explore countries, and cultures, and making new friends. No phase two for me!
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800k
My CFA ’Amy Desiree Irish’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I retired at 50. I’m now 57. I found that phase one can be enjoyed for years as long as alcohol is carefully controlled or given up entirely. I quickly taught myself that my once ‘all consuming’ thirty year career was just a job that didn’t define me. It was something I did once and do no more. I loved it once but don’t miss it. Some of my friends try to ‘squeeze the most out of retirement’ and they end up chasing round like Alice’s white rabbit, never feeling like they’ve ‘done enough, seen enough, belonged to enough’. That attitude can haunt as much as it helps. What works for me is to let go of the need for power, status, and social acceptance, eat and drink in moderation, exercise in ways I enjoy, appreciate the little things, and keep waking up the following morning.
thank you for sharing BB; I’m in a similar situation to you (working part time now - by choice) ~ slow transition to retirement ~ away from work ~ I play music 🥁 🎸 and also surf 🏄♂️💦 all of which take up lots of enjoyable time and as you’d know great for physical and mental health .. 🙏🏼🇦🇺
I retired at age 53 and have been in phase one for the past four years. I'm sure phases 2-4 will happen sooner or later. They're penciled in on my schedule for whenever!
Thank you. I came across this video by chance. I took early retirement 6 years ago. Phase 1 with a mix of phase 4 lasted up to last year when my wife of 40 years decided she wanted a divorce. That knocked me back and i now recognise that im in exactly what you describe as phase 2. When i retired i got involved school projects helping kids build airplanes. Being a pilot i felt it a good way to pass on my experience and knowledge. I found it very enjoyable and rewarding and the kids got a lot out of it, especially when i flew them in the aircraft they helped to build. I gave it all up last year. Going through the divorce has not only been a massive hit financially but emotionally as well. Ive almost become a recluse. This video has inspired me. Im going to get back out there and squeeze the juice. Im just about to turn 65, and i know what i want to do, so im going to get back into those projects. Hopefully i have time to do a lot of sqeezing.
I saved a large amount of vacation time throughout my career so the last year I was working I took a lot of time off. We went overseas and drove cross country. This was a “getting the feel for it” transition period that really helped. That and right after retirement we had to immediately perform a major renovation where I was working from morning till night of very hard, hands on work replacing two bathrooms, a kitchen, and repainting the entire house. This was very different from my regular job sitting in front of computer screens all day and extremely refreshing. Two months after that we did another two month renovation on a rental property. 😮💨 That was last year and every day I wake up happy and fulfilled.
missed these stages, but it did take awhile to get used to getting a check every month without going to work. Am used to it now. After 20 years of retirement, I have no complaints. I have a great wife and life. Am blessed for sure.
What's important to prepare for retirement is to develop interests in things outside of work so you know what you can do in Phase 4. If you are a workaholic and don't cultivate genuine interest in non-work endeavors, you'll flounder in Phase 4. In fact, if you're really passionate about something other than work, you can skip phases 1 through 3 and go directly into Phase 4. I developed a passion for making music with my ukulele, singing with a ukulele club, in the latter years of my work life. So when I finally quit my career, I found a senior center that had lots of activities but not ukulele. I started a ukulele club there and taught other seniors how to play and sing and have fun together while stimulating their mind, exercising their lungs, and retrieving their memories of songs they used to love listening to. I still get a lot of joy from teaching the seniors music with the little ukulele. If you don't have a clue about what you'll love doing in Phase 4, watch some videos on TH-cam to explore the possibilities. That's how I got started with the ukulele.
After watching this talk, I have decided to never retire voluntarily. I am just reducing the hours that I work and that gives me the best of both worlds.
I retired at 56 after 35 years as a nurse. That was almost 5 years ago. I work part time to keep my sanity. You simply cannot sit around doing nothing. I dabble in learning new instruments, restore pianos, drive as a courier and raise my young daughter whom was a complete surprise. Just having the opportunity to do things that was not possible when working has been wonderful. I never had many friends before retirement, I don’t miss having friends. Most of my family and closest friends throughout life have already passed away. It’s important to get out there and make new friends. My oldest daughter is pregnant and so will be my first grandchild. I am excited to become a grandfather. Life is a series of phases and always changing. The alternate is death, and I’m just not ready for that just yet. I have many family members waiting for me in the next life. I have had a strange good life. Certainly not the path I wanted, but how many of us really get everything we want in life?
Retired for 8 months & it has been life changing. Now sleep a deep 8 hours every night, eat so much more healthier than I ever had in my entire life with a 40 lb weight loss, and doing whatever I want, whenever I want. If this is all there is to retirement, then that's fine with me. As long as you have your health & enough brain cells & money to survive, retirement is heaven on earth.
@@davidlafleche1142 First, define retirement. Are you talking about laziness, or financial freedom to determine how you spend your time? I think that is a significant distinction. Second, chapter and verse, please.
I’m 76 and retired from teaching 13-18 year olds History seventeen years ago. I’ve been fortunate to enjoy good health. Retirement has been fulfilling and I’ve never been bored. I’ve done voluntary work with refugees and the Red Cross which has broadened my horizons considerably. I’ve lead tours of small groups to India and elsewhere and I still ride my motorbike to countries like Spain and Portugal. My greatest happiness comes from my grandchildren and family as well as friends. As time passes I’m all too aware how limited it is and am thankful for each day. Sit down and think what you want to do it then do it!
To my Dad and Mom - I made it thanks to your spirit and guidance and sacrifices! Peace and Love to all who work hard and persevere. To my Grandparents who set the examples they followed.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Rebecca Nassar Dunne is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
For me the secret was planning and flexibility. I experienced Phase 1 and 2 before retiring: my husband died right before COVID hit and I worked from home until I retired 2 years later. That was an incredible blessing, giving me time to grieve, reflect and think about what I wanted from my new life as a single person. By the time I officially left my job in March 2022, I was ready to jump into Phase 3. Having a long list of options helped me stay focused; I’m enjoying volunteering, yard projects, learning piano, and rebuilding my social life. I’m looking forward to Phase 4 but expect I’ll be in Phase 3 for a long time. Finding purpose is key. In my experience, my friends who are not serving others or staying socially active are the ones who struggle most.
Alisa, your last sentence hits home. My dad and his brother married sisters. So the genetics I would think are very similar. Unfortunately, my dad had dementia for 5 years before passing. My mother now at 88 is starting to show terrible signs of the disease as well. On the other hand, my aunt and uncle who are very social and active do not seem to show any mental struggles.
@@timmartin4952 I wish our society had better systems in place for aging successfully. For me, at 64, I find that staying mentally, socially and physically active helps a lot but it takes effort, planning and resiliency. Remember to care for yourself as you walk through this difficult stage of life with your mother. All the best to you.
@@timmartin4952consider this. Your mum cared for your dad I presume? In that time of transition she understood he was changing. Initial normal frustration of a man not remembering what was something he always had none. Frustrated because he blamed her deflecting her accusations because his memory was affected but the normal part of his brain was unaware so of course it had to be her. The fear of discovering it wasn't kept that going then truth hopped in and he was scared. She adopted new way of living or got even more frustrated. She was grieving while caring for him keeping him going trying to keep him as high functioning as possible to keep him with her, to keep from that final separation. She also has to maintain her own sanity because if not family may force her to do what she fears, separation that will be like a double death for her to handle. She has to accept she can't expect, well anything of him and she has to let go of the security of when he could do everything automatically. She has to walk on eggshells to keep him calm and herself too. She has to walk in his world, adapt to his thinking and lack of and adapt to think for both of them. So after a time that new behaviour is normal and if he did go to a home then she is left alone and simply keeps that behaviour going because it has become a habit, unconscious and automatic. She had to stop being normal to survive life with him. Now perhaps she simply needs encouragement and reminding she is still that other person inside. The other reason she may indeed be slipping into that other world is because her brain indeed has been trained to go that direction and if they were so close she doesn't care anymore about being anywhere else either. At 88 normal aging can affect memory and grief caused by loss of him even before death may have triggered her journey or allowed her to merely decide she might as well join him because life without him not worth living.
@@alisab3041 thank you very much. She took care of me and now it is my turn with her. Fortunately, I live very close so I got to help a lot with my dad. Even in his state, we shared some good times and I can look back on those and smile.
@@timmartin4952 👍 my son lives in the same town as I do, and I know we will both help each other if that’s necessary down the line. My friends with kids on either coast and no one nearby feel more vulnerable. Sending you wishes for more sunny days than cloudy ones.
What an amazing talk! I'm new to retirement and have been through the first 2 phases, dabbling in phases 3 & 4. It is so helpful to see that I'm not weak or undisciplined by feeling as lost as I was (and still am at times as I do trial and error)! Thank you Dr. Moynes and TEDtalk for sharing this!
I am 75 years old and 10 years into retirement. All of it spent in phase 1 with a smattering of phase 3. After a working and personal life of service to others, I'm done with that! I'm the focus of my 'service' now and lovin' every minute of it! But I am glad you have found a system that works for yourself, too
Interesting and well presented. Thanks I retired 5 years ago. And my first phase was disbelief - I actually made it to retirement, and it was like a vacation! And with my hobbies, physical fitness programs and travel (limited, sadly by the pandemic) It continues to be an enjoyable vacation for me and for my wife of 50 years, as well.
I made a study of retirement prior to my own retirement. I concluded that it is essential to exercise the mind and the body and that happiness is feeling good about yourself. This is almost always through service to others. Very well organized talk and I hope many benefit as I have. Thank you.
Thanks for that! And now, get off the internet and go for a long walk to the shops. And then... plenty of "then" lying around awaiting attention. Excelsior, as one very old friend used to say, at the end of his letters. His parting message to me was "No more books and CDs please, but another 30 pages". (He was talking about the book I was writing, which he was reading as and when I sent him completed chunks). He was 92, and began his second life at 53, becoming a world expert in the subject he most loved.
Right, something I've said over the last few years, my problems will still be waiting there for me when I get home, or get back to them, but helping others with their problems is an opportunity of the moment that I need to take advantage of when they arise.
Spot on regarding the 4 phases of retirement,i do contract work and live abroad some of the year so i understand the need for doing something each day so you don't get bored or depressed.Sometimes i get up and i don't know what to do but often i find something to do in the mornings so the rest of the day i feel better having done something.I am considering retirement as soon as possible so i have alot to think about!
I am 73 and still teaching English part time to French professional workers. Very happy to have this possibility. It keeps me on my toes and the extra money helps.
I retired in 2021. Recognize parts from more than one phase. Enjoy controlling my own time, but have a schedule because I have 4 dogs that depend on me. Often alone, but not lonely. Lots to do. My biggest issue is my physical health started to interfere with things I want to do. The things I did throughout my life have taken a physical toll.
It''s not about doing; it's about being. A friend was about to retire from 35 years as a professor and was full of anxiety about what he was going to do. This is a man who played golf weekly, painted, tended a beautiful garden, had a wonderful marriage, 2 children with 3 grandchildren, and numerous other interests. So I said to him, "It's not about what you are going to do; it's about who you're going to be. Two years later I bumped into him and he was happily retired, doing all the things he had previously done. The difference was he had reshaped his identity.
Prior to watching this TED talk, I made it to phase 4 by serving others! Serving others brings me so much joy. In my case I lead 5 mile hikes, volunteer at a homeless shelter, baby sit my Grandnephew two days a week, and started a Moms and Toddlers group for the community that I host at my church.
This was very good. However, I think one phase was overlooked. I’ll call it the Caregiver Pause Phase - experienced more often (but not exclusively) by female retirees. This is the phase where you are forced by desire and/or obligation to pause your natural retirement flow and take on an unpaid difficult and exhausting job of managing the finances and/or healthcare of elderly parents or other relatives. It can entirely interrupt your retirement for months or years, and depending on numerous factors it can be a blessing or a burden. Just surprised he didn’t mention it!
Excellent analysis and presentation. I'm 71 and retired at age 60. The retirement was a forced self-imposed event however, due to pending severe health. Pending due to a failing liver that would require a "slower" pace and careful monitoring. Eventually as the realization of my future became clearer I settled into phase I ( sort of) but phase II followed after the first 2 years. Tried phase III but had "limited success". Cooking however lingered and fell over into phase 4. Started a TH-cam cooking channel with my wife and enjoy it immensely (The Insecure Chef). Seeing children and grandchildren with both groups occasionally asking advice, made it clear that I'm still of use to myself and my family. Be patient, it takes time but God willing phase 4 will pop up one morning. Oh, and by the way, received a liver transplant on Thanksgiving 2019 and feel better then ever. Good luck.
I retired at 58, also because of a health matter(Failed back surgery, which left me with limited movement and chronic pain). 2 months after retirement my mother became chronically I'll with an assortment of ills(Intestinal bleed,Cancer,Stroke, Heart Attack). I cared for her on a daily basis 7 days a week until her death at age 90 in 2021. I now feel lost because of the loss of routine like the speaker mentioned not to mention the loss of my mother. Even though I was financially prepared, the state of the economy is a strain on me.
This is my favorite reply! Physical challenges disrupt a life differently than retiring when you are healthy. But I think that because of the obstacles, we appreciate our time very differently. Not everyone can walk, or drive, or even get out.
I retired at 60 through stress. I didnt expect it and am just accepting it now...sort of. I am beginning to plan to enjoy my time walking hobbies and grandkids. Its been 2 yrs for me to begin retirement now im 62
After a couple of weeks in phase 1, I apparently went directly to phase 4. I've been retired for 9 years, and none of it sounds like the story here. The key is probably to volunteer and have hobbies that let you connect with others before you retire.
I met this retired couple from Europe while I was living in Africa and what the lady was doing in her retirement was that she volunteered (but they paid her anyway) to attend this office at 0930 hrs daily and clean up the coffee area, make coffee for everyone (she had a list) and delivered them to each office or conference room. Then she would clean up again before lunch and head home for the day. She worked there for years and they treated her very well with not only a nice little salary but gifts and kindness etc. I think that was a symbiotic styled event. Very nice.
Retired 5 yrs now, I’m either permanently stuck in phase 1 or skipped to 4 with 1 being my definition of success and happiness! Enjoy every minute of retirement!
That's great! It's been over 2 years for me and I have not hit phase 2 yet. I didn't over-identify with my job or think that it was my life's purpose; it was a means to an end with some satisfactions along the way. My routine was grueling and I don't miss it. I miss some of the people from my last job but my primary relationships have always been outside of work. And for me a sense of power was not applicable in my job. Who knows, maybe phase 2 will hit at some point but I am not there now.
Well said. Go into retirement with a plan to move toward phase 4 and enjoy the trials and tribulations along the way.I have 4 more work days as a surgeon!
Have you adjusted to your new-found freedom? Where does one go after being a surgeon? Travel? Trying to figure it out after retiring from life on the road. Strange to not be “going somewhere.”
Just what I needed to watch. My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@robertosaviano215 You can do your research and be on the lookout for one with intelligent strategies who'll help your portfolio maintain an unwavering and a progressive growth. Isabel Cecilia Ramsey is my FA. She has the Flexibility & Expertise to Meet Your Needs. Verify her yourself
@@elliot985 I just looked up Isabel online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
Great presentation. I retired at 67 in 2019. I am in phase 4 and feel very complete. I worked on computers in various capacities throughout my career. Today I update my church website and fill-in for our church secretary when she has need. I also have grandchildren that I sometimes pick up from school or drop of for practices in various sports. Teach my grandson piano and baking (he loves to create in the kitchen) and I am content. I live in a beautiful gated community with lots of activities and I still get the "vacation" aspect of phase 1. I don't travel but it's never been an interest and in this day and age, I really have no desire to travel. I am content both alone and with family and friends. I feel very blessed.
Thank you, Dr. Moyne. I'm staring down the barrel of retirement, holding on to my working life with white knuckles, even though I don't need the income, under the pretext of "I like my job and I enjoy working around (much) younger people". I never planned to retire to shuffleboard (or curling) and BINGO, and I have many proven avenues where I can continue to grow and contribute, but I'm reluctant to pull the trigger. Thanks for your thoughtful, encouraging, and perfectly timed talk. Thank you also, O TH-cam Algorithms, for suggesting this TEDx talk to me. You got it right this time.
Outstanding content! I retired 5 years ago and am just now heading into phase three. It’s been a rough few years. I lost both of my parents and my dear sweet pet in the last 3 years. I was depressed and my kids were concerned about me. My daughter invited me to go to church with her family. I’ve never been religious but just spending every Sunday with family has been so fulfilling. I now feel grateful for all that I have been blessed with. I’m much more fun to be around and I’m exploring ways to be more fulfilled.
Great talk! I am 63 and have one foot over the 'ol nurse pasture. I am fortunate to shift my dreams and grateful to retire TO something, which is teaching nursing students. I get to do this part-time, which is perfect right now. You discussed "divorce" as part of Phase 2. Why after decades married, do couples divorce? The other significant loss would be death of a spouse or partner. Finding, maintaining, and nurturing a purpose seems to be the key to longevity and joy in retirement.
We have been very happily retired for about 18 years, I am 77. There are many models but my advice for what it is worth is make a new it a new start, a chance to reinvent yourself on your terms. Don’t have a phase one but start on projects whatever they may be, if possible make a start before you retire, learning, training, setting up resources so you can transition into it.
Well, that worked for you. That’s great! Some people have had stressful long term careers without ‘unplugged’ vacations or they were not able to take their vacation time at all for decades (for instance, corporate senior managers and many middle managers in North America). Others are just used up and burnt out. So there is a need for many people to relax, recover and heal before making any new commitments. The time frame for this may vary.
@@Katnip7770 Hi Joanne, I’m not saying don’t take vacations but if you are stressed out, and I certainly was, it’s good to fill your time and mind with something you really enjoy, in my case it was teaching myself woodwork but we also went cycling in Europe and did a lot of skiing.
@@Katnip7770 Crafting hobbies such as: knitting, crochet, sewing and card-making, can be begun at any age, while working or post-retirement, by any gender. They are mostly female-dominated, but a few brave/confident males are quite adept in each field. Not everyone can do these hobbies, due to arthritis or failing vision, but a great many retirees and some pre-retired do them - and even a few retirees with these problems do find a way. They function as charitable contributions and purpose if you find one of the many charities who donate these items to people in need, for whatever reason. There's no requirement for commitment, or adherence to a schedule, and they can be quite relaxing (even as a cheaper replacement for therapy or vacations!) Best of all, they can be done in your own time, from the safety of home.
Retired in 2010. There were so many things I left behind after college that I wanted to pick back up again, and so many things I learned during my career that I wanted to take in another direction, I pretty much skipped over the vacation period. I've been able to serve my daughter in her business, take tons of classes on Masterclass and Coursera, and now I'm in the middle of the most creative period of my life. But I did prepare for this part of it. About 10 years before I retired, I started taking art classes again to catch up on the technology and blow out the cobwebs. I took a year off a 55, traveled and volunteered to give myself a preview. The most important thing is to be prepared, to be interested in life and be engaged.
The first phase is when you're newly retired and still active-what do they call it, the 'go-go' years? You’re traveling, enjoying life, maybe spending more than you planned. It’s exciting, but it’s also when you’ve got to be careful about dipping too much into your savings
By that time, you’re probably spending more on healthcare and less on fun stuff. If your portfolio isn't balanced and ready for that, you could run into trouble
I actually sat down with my financial advisor a few months ago to talk through these phases. He’s been helping me figure out how to shift my investments as I get older without losing too much potential for growth
He’s really good at helping people transition through each phase of retirement, making sure your portfolio is not only stable but growing where it needs to
Great talk. There is a 5 phase needing to be prepared for, which is when your health declines and you learn from others how to learn to leave this earth.
Good talk! I’m 5 years away from phase 1. My wife and I have only focused on the financial aspects and haven’t considered the "loss of purpose” aspect of retirement.
I retired from full time work about a year ago, but was able to stay with the same company in a part time capacity. I've been thinking about retiring completely in a year or two, but when you mentioned the loss of relationships, that was an eye opener for me. I think I'll continue to work as long as I am physically able to.
I've been retired for a year now and it's a mixture of phases one and four. But what really helped us out was 11 years before we retired we moved from the city to 32 acres in a rural area. I get to mow 9 acres of lawn, I get to do a lot of reading now, I'm finishing the interior of a pole barn I had built that can now be used both as a shop building as well as a large music room next to it, man cave, craft room for all of us. There's literally always something to do here. I know I play in my church's band, I occasionally teach Sunday school, and would like to do more of the latter. Human beings are wired to get joy from helping others. If you're not helping others it's just a road to misery. And that's whether you're retired or not. The difference between now and when I was earning a living is now I get to do what I really think is important rather than what I need to do to make money to live.
This is more my kind of comment. I will be 60 in a couple of months and plan on retiring 3 months after I turn 62. I think you had the right plan with the workshop and staying busy doing handyman type stuff and working with the church. I bought 3.5 acres of vacant land last year that's not even a mile from our subdivision. I plan to build a metal workshop there and have a garden and place to burn brush from the yard and have bonfires. The land has a large pond on it and crazy as it sounds, I want to try farming Talapia and fresh water shrimp. Maybe even aquarium fish. Money will not be an issue because I have us setup to have a little more income than what we are making now. I am really hoping I just stay in Phase 1 for a long time to come. I was never the type to get glued to work and work relationships and all of that so I don't really think I will miss it even tho I have been in my career for 35 years which is construction engineering. Anyway nice comment and good luck!
Thank you - Still not retired at 70 - husband the same age and both terrified at the prospect of retiring - my brain dreams and can imagine phase 1 - indeed the dream is to spend six months in Europe just chilling in a small village here, a small town there - over the years we've explored and visited many places now we just want to immerse ourselves into some gentle day to day living in another reality - the terrifying bit is we don't know what to do after that.
That may be all you need to do, if it provides the kind of enriching fulfillment that you desire. This was a great talk and I believe it will apply to most retirees, but it doesn't have to apply to you. if you enter retirement with a plan and some creative vision, there is no reason you can't jump straight to phase 4!
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
I think most people want to try out a financial advisor, but the amount of information on the internet is overwhelming. Could recommend any good one(s)?
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I retired from a busy and stressful corporate life at age 65. I migrated straight to Phase 4 - clearing invasive weeds and regenerating degraded / infested rainforest opposite our home. Found complete enjoyment and immense satisfaction. Two years later I have cleared around 7 acres of invasive species and witnessing the return of natural rainforest flora and fauna which had previously been choked out. I have enlisted other retirees as co-volunteers. Never been happier and fitter. Can’t wait to wake up for the next days efforts including photographing and cataloguing species I am finding…
Wonderful!!!
What a beautiful and rewarding way of living.
Wish i could join you
I need to do this
That is so AWESOME!
I love being retired. 7 years now.
I’m not super well off, but I’m comfortable and never get bored.
I enjoy the quiet and simplicity.
This ⬆️
Great simplicity, learn, play with Grandchildren, help poor children in Oaxaca where I live. Help with Permaculture in schools, visit friends. Thanks for sharing
Me too.😊
Guess I am still in phase 1 after 3 years and still cannot be bored out of it as I love it soo much 😂
I’m six months into retirement. Age 61. I’m single and not bored at all. I keep a daily routine of small projects, exercise, reading, coffee, humor (Laurel & Hardy), puzzles, my cat, houseplants, music, piano playing.. I’m good for now !!
I really liked this video because it confirmed for me what the majority of people think about retirement: that you will quickly get bored because of lack of a routine, and will struggle to find a way to replace the meaningful parts of your life when you were working. When I was nearing retirement, many people told me that I would be disappointed after I retired due to boredom, and I told them that I didn't think that would be true for me, but that I would let them know if they were right sometime down the line. I retired at 62 after working full-time for 40 years, and immediately felt the freedom of not having to keep to anyone's schedule but my own. My wife and I have been retired for 12 full years now, and neither of us has spent ONE SECOND being bored. We aren't wealthy but we have enough to pay our bills and have a little more fun. We love going on vacation, usually just a drive to a different city, and sometimes a flight to Hawaii or Florida. When we're not travelling, we have our own hobbies that keep us busy. My wife likes gardening, making jewelry, and cooking. I like music, golfing, and photography. We combine our hobbies sometimes, like when she helps me with my photos on vacation as she's learned to take great photos with her camera, or when I help her cook and develop my own favorite recipes. Best of all, our retired life IS our new routine. We have all our meals together and watch TV from 8 to midnight most evenings. We sleep on our new schedule, 2 am to 10 am, and are both sound sleepers. Fortunately, we are both healthy and have a fitness workout 3 times a week that helps keep us that way. In short, our Phase 1 has lasted WAY longer than the average 1 year he spoke about, and to be honest, I think we're still in Phase 1 after 12 years. Maybe it's because my hobbies are not something that you master quickly enough to get bored. Golf is something you never master, you just keep trying to hit good shots, and if you really like to play, you keep practicing in order to hit more good shots. I've played guitar for over 50 years, but I never had the time to get really good at it. But now I can practice much more and have improved a lot more in the last 12 years which is very gratifying. It inspired me to try to learn to play piano at age 71, which was a real challenge. After 2 years of instruction, I am nowhere near any good, but I do get better the more I play. So much more so, that I play piano every day now but only play guitar once a week. I guess my main point here is that not everyone is going to experience these 4 phases, so if you are nearing or new to retirement don't think that it's automatic. Do use these concepts to guide your retirement planning but make your golden years your own in your own way. If you need to make life more meaningful, follow some of his ideas. If you're happy to be free of the 9-to-5 grind and don't feel depressed or adrift, just continue to enjoy it.
I think retirement is state of mind and we can be in whatever phase we want. Sounds like you have found a superb balance of enjoying what you do and gone straight to phase 4!
Lots of good stuff in this reply, thank you.
100% agreed - same here and hope it stays that way 👍
The glass is always half full, loved reading your positive appraisal of life in retirement. I started an outdoor cleaning business when I was 60 and full intend to keep cleaning into my 70s. I’m 65 now. If I’m not working outside, I’m managing the business inside (invoicing, accounting, digital marketing etc) or cooking dinner for my wife and I (she’s younger than me and works four days a week). Our three day weekends are all about walking, birding and getting ingredients for our meals. Grandchildren on the way too! I think you get out what you put in and having a positive mindset is a great constant 👍
Thank you for being positive
Retirement becomes truly rewarding when you have two key components: a solid financial foundation and a clear sense of purpose. Making wise investment decisions is crucial to achieving strong returns and enjoying a secure retirement.
Rising costs have impacted my original plan to retire at 62, work part-time, and grow my savings. I can't help but wonder if those who navigated the 2008 financial crisis had an easier time compared to the challenges I’m currently facing. Market volatility, combined with a lower income, has me concerned about having enough for a comfortable retirement.
You’re absolutely correct-financial advisors have access to strategies and opportunities that aren’t always available to the general public. I earned £560k in 2022 with guidance from my fiduciary advisor. Am I cashing out? Definitely not. I’m taking a step back to watch how the market evolves.
I completely agree-having a professional manage my investments has been invaluable. My job doesn’t allow time for in-depth stock analysis, so I entrusted an advisor with my portfolio. I’ve been fully invested since the COVID-19 outbreak, and I’m happy to say my portfolio has grown fivefold in just five years, reaching nearly $1 million.
How can I find a trusted financial planner like yours?
I consistently recommend Rebecca Lynne Buie as my top choice. She is well-known for her expertise in financial markets and has an impressive track record. I highly endorse her services.
I’m 66, divorced and retired for several years, alone but not lonely! Workout everyday , bike ride along the river, hiking and fishing. Top it it off with lots of travel. And read a couple books a week. Life is good.
Life goals right there !
@@radioflyr8876 getting divorced cannot be a goal. 🤣
These things are possible only after divorce
Retired now for almost 23 years. My advice is take care of your health and finances. Travel wasn't on my list of things I wanted to do, I did plenty of that during my working years. Get and stay healthy ! Stay mobile as long as you can, normal weight, good diet, reasonable exercise (physical and mental exercise). Help others when you can but don't become an enabler. Mobility becomes very important as we get older, eyes, ears, balance, dexterity and the strength to do what we want. Many of the people I know (probably most) have prediabetes or diabetes type 2 a lifestyle disease that can and should be controlled by diet. Relatives, relationships, beware of toxic personality people. Help them if you can but be ready to detach if you can't. Each of us are individuals but these things will apply to all us.
You make an important point about staying healthy. If you access our "health care system" you will shorten your lifespan for sure.
I am 70 almost 71. Have been a nurse 50 years this year. Have loved every day of my career. I did critical care with infants, children, adults and the elderly. I payed attention to all I cared for. I get check ups EVERY year along with my lab work etc. I don’t take any meds. Keeping healthy is like having another career. You have to work at it. I see all the preventable illnesses that people have and a good majority don’t have to be that way, most have brought the illnesses on themselves. Having preventable illnesses is EXPENSIVE. That money you saved for retirement is now funding the ill health you should and could have controlled. By the way I still work.
Agree 100%
@@louisel.sinniger2057 Yes, I agree. If you are diagnosed with CKD, how often should you do bloodwork? My current PC thinks once a year apparently. I disagree. Your thoughts?
@@notedrockhistorian4382 Hi. Well, let me say this. If I was diagnosed with CKD I would hook up with a Renal specialists. I know, I know, a specialist?!
PC’s are good however when you get into specific organ problems it is a good idea to be evaluated and followed by a Specialist. THEY are the ones that know specifically how often you should have lab work. But, it also depends upon what those specific labs look like. Hope this helps.
I retired once and couldn’t take it. I went back to work. I am a retired hospice nurse. I worked six more years in hospice and it was the best time of my forty five year nursing career. It depends on how prepared you are, mentally, financially and physically. You MUST stay healthy and in shape physically. After two years I am finally happily retired. Being physically fit and healthy really makes a difference. To my younger friends I say, save more money and eat less sugar.
I just retired at 58 years old. It is easy if you are introverted and could not stand working....I have never been happier.
Wow, I still wonder if I retired too early at 66. Luckily, my workplace allowed me to continue working part time, which I am still doing 3 years later. I think that was a transition that made the whole thing easier for me, but I am thinking of letting it go. I am introverted also-although I think that just means I want peace and quiet and time to do all the things I love doing.
I retired at 57 after many years of very hard work. I'd simply had enough of people, clients,coworkers and most of all fellow commuters. I didn't know I was an introvert until I could sit still! It wa a huge adjustment and very difficult a first but now I love it!
@@leahferrell3110 to me retire after 40 is already too late. retire at 35 is ideal
Absolutely agree with you. It is heaven for an introvert
@@jcsrst I also retired at 57. After 5 years of retirement, I have never once wished that I was still working.
On the very afternoon I retired from 45 years of engineering, I drove down to the Bridge to Excellence in my local town to become a tutor and mentor to at risk middle school and high school students. I also help run the cafeteria. That was three years ago. I spend my evenings brushing up on concepts of mathematics and English composition on TH-cam. That very Monday at 5:00 pm, I ended my engineering career and started my tutoring and mentoring career.
The Men’s Shed movement, begun in Australia, is excellent for old guys helping each other and helping the community. I’m a retired builder and teach woodwork to our members and make quality wooden toys for the community.
Wonderful - pay it forward, my friend. 👍
I love this - excellent presentation. I consider myself to be very fortunate. I was able to retire at age 59, and I just turned 70. I've thoroughly enjoyed all of that retirement time. But it may be different for me. I'm extremely introverted, but for some reason often found myself in management positions. Parts of it I loved, e.g., being a resource for individuals and helping them reach their potential. But the rest was exhausting - meetings, being around some people trying to puff themselves up and impress others. I had no desire to try to do any of that.
Then I retired. What a blessing! I live in the foothills of the Rocky Mountains, so I was able to resume my duties watching the clouds and monitoring the mountains - well, because somebody has to do it. I report weather events to the National Weather Service, keep track of the birds, deer, bears, mountain lions, and moose. I'm also blessed with a wonderful wife, two wonderful sons, and two rather exhausting grandsons (ages 4 and 1). I've also done a fair amount of editing of various types and taken apart quite a few old pocket watches (getting them back together is a different issue).
Of course there are some downsides. I'm unable to play guitar and bass (I've played since I was 13) due to severe arthritis in my hands, and I'm no longer able to enjoy boating in the Great Lakes as I once did due to issues with balance - I'm not too eager to fall overboard.
I have no problems with being alone (I'm never lonely) and "squeezing all the juice" out of the quiet and beauty that surrounds me. And I still keep in touch with friends from my younger days who are important to me. We just pick up our relationships where we left off.
My family has always been more important than my career, and I think that's what helped me prepare for retirement (though it did not help my financial progression). I also developed many interests and hobbies outside of work. I certainly understand and know people who have had problems adjusting to such a major life change as retirement. But hang in there and listen to the excellent advice presented by Dr. Moynes - you'll get to Phase 4.
PS - Apologies for the long post; the words just came flying out of my fingers...
Thanks for the talk. I'm completely happy at this stage of my life with the situation
I'm in.
👍
Hi - I enjoyed reading your story. I'm recently retired 71 and truly enjoying it too. Onward!
I really enjoyed reading this - thank you.
Yes. I agree with your point of view. Retirement is a phase of life to sit back, relax and enjoy life by doing nothing
I've been retired for 5 years. Whenever I look at age related activity groups, all I see are boring old people doing boring things. I think, is this me, seriously, when did I get old? At 68 I'm more about throwing my motorcycle on the back of my motor-home and spending weeks in the mountains, not bridge or mahjong.
As soon as I can find a 'retirement activity group' doing this I'll sign up, but sitting around saying 'go-fish' seems like a death warrant.
I’m with you! When I retired I immediately started caring for a horse on a farm a couple of towns away, five mornings a week. I now go there three mornings a week and have added volunteering for a local horse rescue where I sling manure. LOl
I have zero plans to buy a home in a retirement community to play mah jong in the clubhouse. It’s important to stay connected to younger people in my community.
I went Sky-diving for my 60th birthday last year. For fun I trail ride on Clydesdales, read books, and plan future travel. I want to day hike the Pacific Crest Trail that is near my daughter’s home in Oregon.
I haven’t experienced the stages described in this wonderful talk. I’m out the door earlier in the mornings than when I was working!
@@dianemcq64a purpose is key , I started a company and run the company, I recommend two things that people can do is a small company becomes a source of income as well as purpose , 1) What your job was you can pursue or 2) what you love hobby. I suppose the limited success is my experience also , but the MOVING ON abilityis key. So much opportunity, retail is the easy quick adventure to start with so many products out there , recognise a gap and fill it. Making some money will inspire growth.
Just accept that you are not important. Not when you are working, and not after retirement. Just do what makes you happy and be the person that makes you happy.
Yes many of us don't feel the need to feel powerful or significant - it's very liberating
Fellow introvert here and I couldn't agree more! I retired at age 50 about 5 years ago and absolutely love living on my small horse farm doing woodworking projects all day. Just me and my animals. Heaven!!
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
I worked in a very toxic work culture but was too terrified to look for another job---the pay and benefits were terrific, and both my boss and my (now ex-) husband kept telling me, "Who'd hire you?" Finally, at age 67, I was downsized out. After awhile I moved into a seniors facility that is like being on a permanent cruise. I've been retired now for almost 9 years and for the first time in my life I'm actually happy. I feel like I'm "resting" from all the bad stuff in my life, and there was a lot of that. I no longer care about "finding meaning" in my life. The thought of working fills me with horror. And frankly, I STILL can't wait to get up in the morning. I do what I please, when I please and with whom I please. There is no one to get approval from any longer.
Kudos to you! The relief you must feel waking each day knowing you don't have to tolerate insufferable people (bosses, former mates, etc). And here: "I no longer care about "finding meaning" in my life,"
Sounds lovely!!
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
Is there anything like proof recession stock? I am 58 years and would like help in managing my retirement portfolio which is currently $1.25M...down from a high of $1.67M….
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
@@DarleneMurphy774 True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of $550k...that's like 7times more than I average on my own.
@@ThomasHeintz that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.
@@Adukwulukman859 SCAM SCAM SCAM!!!!!!
The key to contentment in retirement is knowing you gave it your all in your younger days. Let someone else carry the load. I did my part.
Your comment has me remembering when I told a mother of one of my sons' friends that I was retired...she looked at me in disbelief, and I said "I made my mark."
Retired for over six years now and my only down side is regretting how much of my life was wasted working for a living.
Love it!! 🥰🥰🥰
Western society, particularly in the US, puts so much emphasis on 'doing' and 'producing' that it is no surprise some struggle with retirement and seek to confirm their self worth by 'doing something' even in retirement. I have been retired for about 5 years now and notice that with some retirees there seems to be a competition to show who is more active or doing more charity work, etc. Kinda the same as when they had their 9-5 jobs but just without performance plans. I do agree establishing a routine is beneficial in retirement. For me it is pretty much daily exercise, yoga (including mediation), trying to learn spanish, cooking, etc. and some volunteering on the side. There is a huge mental component to being OK without 'doing stuff' to prove your self worth. It is so great being able to do what you enjoy without the hassle of trying to squeeze it in around a 9-5. But I think I am most happy when someone asks me what do I do with all my free time and all I say is 'just being happy'.
Agree!
Yeah I’ve been retired a couple of years. I do miss the routine and contributing to the broader society but I’m happy doing things for my immediate family for now. I don’t miss dealing with staff and customers.
Great point. Are jobs are more a part of our identity than it should be it seems.
Great perspective! Thank you
Bingo. Yes, I was struck how there wasn’t a single word about deepening own’s own spirituality, or maintaining physical vibrancy. That alone can be a “full time job!” ;)
I’ve been retired 14 years now and am still enjoying phase one of complete freedom. For each his own.
Awesome advice just what i needed theres gold gems in old Goots
Shallow people would be fine in phase one. Those with a strong drive of purpose and service would not.
@@johnestupido1418 how sad that you would say that. You have no idea what is happening or has happened in that person's life. Don't be so judgemental.
@@petefols153 Actually, in my 60 years of life, I can cut to the chase. But you keep on with you virtue signaling. It is kind of cute in a naïve way.
@@johnestupido1418 LOL your pseudonym fits you well.
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
It's recommended to save at least 20% of your income in a 401k. 'Joseph Nick Cahill' taught me to estimate how much you should save based on your age and income. I've been with him for years now and his decades of experience in the markets translate to chunks of value in so many ways! he has upscaled my portfolio and even got me reading self help books haha
Impressive! How can I contact this advisor? My portfolio has underperformed, and I need guidance.
Joseph Nick Cahill is his name. He is regarded as a genius in his area and works for Empower Financial Services. He's quite known in his field, look-him up.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon!
I retired less than 2 months ago and am already in Phase 2. Had no idea of the mental challenges I'd feel. This talk was perfect medicine for me to keep trying until I re-find my place.
Yes I am over 2 years retired but due to covid and isolating it's tough to get out there. Travel by vehicle has been great but I am still struggling with anxiety regarding getting on a plane. So more travel and finding more community are my goals for 2023. It;s definitely a process and to keep trying new things and new people with similar interests. I think you can go from one phase to another and back again.
I retired at 56 and my advice to everyone one is retire as soon as you can life is too short you never know if you will be here next week stop saying I’m gonna…… do it
it was one of the best and easiest things I
have ever done
Loss of routine is to be welcomed, not feared. Escaping the daily grind and not being locked into a schedule, is fantastic.
Glad you found it so. When I retired as an employee and started to work for myself, my friends envied my "freedom". Yes, it WAS freedom, but it was freedom to create my own discipline. There were times I really didn't like my new boss, but he was absolutely necessary. And he knew my dodges and copouts better than my previous ones. I suspect the same will apply as I come into my actual retirement.
Never a worry for me. My husband had numerous hobbies…physical ones, brainy ones. Still downhill skied in his 70’s, sailed, Tai Chi….astronomy, RC gliders, and MORE. At 78 a brain aneurism took him suddenly. He went out on a high….active, doing what he loved. I’m the one that’s dealing with loss. I’m 85 now and life seems to be one long exercise in letting go.
shirleyclemmer3: Your husband seems to have been such a positive influence in your life and he’s still in your thoughts and therefore still by your side now. Consider carrying on his legacy of vitality and positivity with your own twist/stamp on it. Wishing you well.
Weeeeell ain't that special.
You're in the try new things phase. Like he said, never stop trying.
At 8 years into my retirement, I feel no loss at all and I still enjoy every day as much as the first. Living alone and having a broad range of interests, as well as a never-ending stream of ideas to explore, boredom has never been a problem for me. I still fondly love saying that, when you're retired, every day is Saturday. Having never identified myself by what I did for a living really makes a positive difference.
That’s what I say when people ask me how I like retirement. “How do you like Saturdays?”
May I ask? What do you mean by never identifying yourself with what you did for a living? Care to explain, please.
@@teresitaabad2962 Sure, Teresita. It's quite common, especially with men, to derive ther identity from their work. In other words, for example, I was an architectural/engineering draftsman for 31 years. That was what I did for a living, but that is not who or what I am. I have always had many other interests and I identify myself more with those other interests (artist, photographer, writer, etc) than I ever did as a draftsman. What I did for a living was not who I am. Men (some women, as well, I would imagine) are in the habit of answering the question, "what do you do?" with whatever their occupation is. This is especially true for professionals, like doctors or lawyers. So, many men's identity as a person becomes an extension of what they do for a living. When they retire, they go through a crisis of identity because what they are is wrapped up with what they do. It can be unbearable for some men, as their whole life IS what they do for a living. I've never had that problem. While I was making a living as a draftsman, I never answered the question, "what do you do?," or especially, "who are you?" with the name of my occupation. Now, in retirement, I think of myself as a photographer more than anything else, even though I've never made my income from photography.
Wish I was like you...I'm bored and went back to work parttime.
Retired from USAF last year. I'm finally getting used to not waking up at 4:30 am. I travel for a year.
I retired at 52 and am the happiest I've ever been. Never felt any of these things mentioned. I slept till noon for a month, just totally exhausted. Then I sat outside on warm days with the sun on my face and said to myself this is what I missed. Loved it!
Yes, I felt almost traumatized after the last few years of teaching and it took months to kind of feel like I had healed a bit. Now it is wonderful and the world is my oyster.
52 ? Were you a lifelong govt hack ? So no real difference between your working and retired days lololol. Sitting around doing very little.
@@matt75hooper Rude!
@@davidgw59 probably doesn't know any better.
Baloney. I'm 74 years-old and retired 16 years ago. I'm still in phase 1 and couldn't be happier.
This comment made my day! 👏👏👏
A fellow dog walker and weed whacker.
Chacon a son gout!
So you think that what is baloney for you is baloney for others? Thanksfully, for society's sake, some of us need a purpose in life beyond our own pleasure.
I am 75 years old and 10 years into retirement. All of it spent in phase 1 with a smattering of phase 3. After a working and personal life of service to others, I'm done with that! I'm the focus of my 'service' now and lovin' every minute of it! But I am glad you have found a system that works for yourself, too.
Great video, Another factor to add is Do they spend a lot of time planning their financial future? The majority of people do not engage in planing for their future
You missed the whole point of this video- He explicitly says this not about financial planning. My father had a great financial plan, but once he got to phase 2, the loss of connections, routine, power, etc, he sunk into a depression and ended his life. He had plenty of money, he didn't have connections or sense of purpose. He would have been better off working until they took him out of his office on a gurney.
Lately, I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $800K in the stock market, experiencing fluctuations without substantial gains.
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management
Opting for an investment advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 45% since Q2.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
My retirement motto is " simple living, simple thinking "! Enjoying a totally relaxed lifestyle. Focusing on my health, and well-being, things that I enjoy doing such as exercising, cooking, shopping, researching online, vlogging, and spending the evening watching the glorious sunset while drinking my favorite brewed coffee followed by late evening 'happy hour' with my favorite chilled beer or gin n tonic, popcorn, tuna salad w/boiled peanuts garnished with chili oil, onions and tomatoes, and olives!
When asked what are you doing nowadays I reply that I am Totally Retired! Practicing the art of doing Nothing but enjoying the Stillness and beauty of Mother Nature and delving deep into myself, contemplating, meditating, realizing how wonderful this world is, and truly appreciating the finer things in life.
A month ago I placed a comment on this, and advised that I'd had around 75,000 views on my on videos of Retirement. Today, I can tell you I now have around 86,000 views and over 1,000 subscribers. This is not only an indication that I'm succeeding in my aims for helping more people (I'm 87 and have been retired for 28 years) but there is a huge demand for this sort of subject matter. Keep it up, Riley. People need you.
Excellent, excellent, excellent. I’m 73 and 3 years retired. My phase one was Covid 19 so missed the travel year and went straight into phase 2. It was a tough 2 years. Not only the loss of friendships, power, routine etc but the isolation of Covid was devastating. Got thru it and now I’m going to do my Phase 1 this year.
Thanks for you great perspective.
I wish you a wonder~filled amazing phase 1 year!!!
I've been retired for twenty years. I'm now 76 and still in phase one. This is where I intend to stay. I've paid my debt to society, thank you.
Good for you. Some people seem to have to be “worthy” or what they see as worthy. I do what suits me. Nobody can tell me what to do anymore. I go through these phases regularly and then move on to another phase and back again maybe. 😂
That sounds like the best outcome …
I began the process of retiring a few months before my 55th birthday when I got a corporate buyout. But I just transitioned to doing work that I enjoyed. I became a college professor, and didn’t fully retire until the middle of my 71st year. But I spent those 16 years preparing for retirement, taking long vacations and traveling in the summer. I was working half the hours I put in during my corporate life. After finally retiring, I spent three years of frequent travel, then CoviD hit. But I had books I wanted to read and other interests, so it wasn’t too bad. The tough part was physical aging. I had physical limitations that stopped my skiing, running and sports activities, I was losing my hearing to the point of having difficulty in conversation and limiting many other activities. 65 to 75 is the “young old” age group. At 76, you are just entering the “old” group, and will find yourself losing activities that you enjoy as you move toward the 85+ “old old” demographic. Even if you succeed in staying in phase one, it will become challenging.
Same here, Meredith. Retired for 6 years and apparently still on ¨phase 1¨. At the beginning I had some sense of loss but it didn't last long. New relationships pop up. New routines are built. Of course, we are all different. Some people have forged their identities based on their jobs and that's understandable. But in general, I couldn't disagree more with what is implied in this lecture.
I love it!😃😃😃😃
Phase 1: Vacation phase, lasts about 1 yr 3:45
Phase 2: Loss and lost, lose the big 5, routine/identity/relationships/purpose/power divorce/depression/fear/decline 4:48
Phase 3: Trial and error, searching for meaning, contribute, failure 6:35
Phase 4: Happy, reinvent, rewire, answer questions-mission, activities, accomplishments, service 8:38
Thanks for posting what should be in the introduction
The post this at beginning and no need for all the waisted air.
Or you go into total decline and end up in a subsidized care facility for the ageing
If I retired I would be sure to go straight into Phase 2, shortly followed Phase 3. Then to Phase 5.
Thank you.
Retirees facing financial challenges often couldn't save enough during their working years. Retirement decisions play a pivotal role. Despite my parents having similar years in civil service, my mom invested with a wealth manager, while my dad relied on his 401(k). As a result, my mom retired with approximately 3.7 million, whereas my dad retired with around 1.4 million
I believe it's something I should pursue, but I've been procrastinating for a while. I'm uncertain about which firm to choose; they all seem similar to me.
You scammers are relentless! Anything for a buck right...
@@usa91bYes and YT does not seem to care.?! You can report something and an hour later or less it is back.?
How much of your mom's money did the wealth manager retire with?
@@mrb552 2%
19+ years of phase I and still loving it!
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Could you kindly elaborate on the advisor's background and qualifications?
“NICOLE ANASTASIA PLUMLEE’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
This is definitely a talk one should listen to several times over.
Love this!
Articulate! Emotional! Humorous!
Above all, it's about restarting one's life when "work" is over.
No work is over,you can never stop acting, your faculties continue to perform so never remain idle, the mind travels fast you need to reinvent
I have been retired since 2003. It is all vacation to me. I spend 4 hours per day on-line, continuing my education, and keeping up-to-date on the latest science. With my freedom, I like to travel, and explore countries, and cultures, and making new friends. No phase two for me!
suuure, why did you click on the video then, LoL
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800k
Mind if I ask you to recommend this particular coach you using their service?
My CFA ’Amy Desiree Irish’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
I retired at 50. I’m now 57. I found that phase one can be enjoyed for years as long as alcohol is carefully controlled or given up entirely.
I quickly taught myself that my once ‘all consuming’ thirty year career was just a job that didn’t define me. It was something I did once and do no more. I loved it once but don’t miss it.
Some of my friends try to ‘squeeze the most out of retirement’ and they end up chasing round like Alice’s white rabbit, never feeling like they’ve ‘done enough, seen enough, belonged to enough’. That attitude can haunt as much as it helps.
What works for me is to let go of the need for power, status, and social acceptance, eat and drink in moderation, exercise in ways I enjoy, appreciate the little things, and keep waking up the following morning.
thank you for sharing BB; I’m in a similar situation to you (working part time now - by choice) ~ slow transition to retirement ~ away from work ~ I play music 🥁 🎸 and also surf 🏄♂️💦 all of which take up lots of enjoyable time and as you’d know great for physical and mental health .. 🙏🏼🇦🇺
@@bodhi9464 Sounds fantastic. Keep enjoying those waves, and try not to rob any banks 😉🏴🇦🇺
@Ian I can’t say too much. 😉
I had to resign at 56 due to health issues and am now 58 still in phase 1 (forced retirement) . Hope to be up & about soon and 'do something'.
@@nahidsyyed906 Good luck, Nahid.
I'm almost 60 and I have been watching a lot of videos about retirement. This has been the best one yet! THANK YOU!
That's pretty early if you think about possibly living to 90 or more, but if you have a lot of friends and other interests in your life-enjoy!
I retired at age 53 and have been in phase one for the past four years. I'm sure phases 2-4 will happen sooner or later. They're penciled in on my schedule for whenever!
Thank you. I came across this video by chance. I took early retirement 6 years ago. Phase 1 with a mix of phase 4 lasted up to last year when my wife of 40 years decided she wanted a divorce. That knocked me back and i now recognise that im in exactly what you describe as phase 2. When i retired i got involved school projects helping kids build airplanes. Being a pilot i felt it a good way to pass on my experience and knowledge. I found it very enjoyable and rewarding and the kids got a lot out of it, especially when i flew them in the aircraft they helped to build. I gave it all up last year. Going through the divorce has not only been a massive hit financially but emotionally as well. Ive almost become a recluse. This video has inspired me. Im going to get back out there and squeeze the juice. Im just about to turn 65, and i know what i want to do, so im going to get back into those projects. Hopefully i have time to do a lot of sqeezing.
Do your best Sir, it will surely be appreciated. God bless you.
Yes, please get out there and enjoy life! 65 is new 45!
The world needs your skills. Please pass them on.
I saved a large amount of vacation time throughout my career so the last year I was working I took a lot of time off. We went overseas and drove cross country. This was a “getting the feel for it” transition period that really helped. That and right after retirement we had to immediately perform a major renovation where I was working from morning till night of very hard, hands on work replacing two bathrooms, a kitchen, and repainting the entire house. This was very different from my regular job sitting in front of computer screens all day and extremely refreshing. Two months after that we did another two month renovation on a rental property. 😮💨
That was last year and every day I wake up happy and fulfilled.
missed these stages, but it did take awhile to get used to getting a check every month without going to work. Am used to it now. After 20 years of retirement, I have no complaints. I have a great wife and life. Am blessed for sure.
Seamless: the way it should ideally be. Count your blessings b/c you are the exception to the norm.
What's important to prepare for retirement is to develop interests in things outside of work so you know what you can do in Phase 4. If you are a workaholic and don't cultivate genuine interest in non-work endeavors, you'll flounder in Phase 4. In fact, if you're really passionate about something other than work, you can skip phases 1 through 3 and go directly into Phase 4. I developed a passion for making music with my ukulele, singing with a ukulele club, in the latter years of my work life. So when I finally quit my career, I found a senior center that had lots of activities but not ukulele. I started a ukulele club there and taught other seniors how to play and sing and have fun together while stimulating their mind, exercising their lungs, and retrieving their memories of songs they used to love listening to. I still get a lot of joy from teaching the seniors music with the little ukulele. If you don't have a clue about what you'll love doing in Phase 4, watch some videos on TH-cam to explore the possibilities. That's how I got started with the ukulele.
After watching this talk, I have decided to never retire voluntarily. I am just reducing the hours that I work and that gives me the best of both worlds.
that talker made it sound like it, right? he is basically saying phase 4 is going back to work! LOL.
@@모래시계365No, he didn't.
Some people like doing what other people tell them to do and trading time for money.
I retired at 56 after 35 years as a nurse. That was almost 5 years ago. I work part time to keep my sanity. You simply cannot sit around doing nothing. I dabble in learning new instruments, restore pianos, drive as a courier and raise my young daughter whom was a complete surprise. Just having the opportunity to do things that was not possible when working has been wonderful. I never had many friends before retirement, I don’t miss having friends. Most of my family and closest friends throughout life have already passed away. It’s important to get out there and make new friends. My oldest daughter is pregnant and so will be my first grandchild. I am excited to become a grandfather. Life is a series of phases and always changing. The alternate is death, and I’m just not ready for that just yet. I have many family members waiting for me in the next life. I have had a strange good life. Certainly not the path I wanted, but how many of us really get everything we want in life?
Thank you for your honesty. It has helped me through my difficult Phase 2.
My phase 4 is my grandchildren. I am giving myself to them for as long as I am able.
They are amazing people to spend time with.
@@donaldgossett1736 AND help keep you on your toes, physically and mentally.
lucky
Retired for 8 months & it has been life changing. Now sleep a deep 8 hours every night, eat so much more healthier than I ever had in my entire life with a 40 lb weight loss, and doing whatever I want, whenever I want. If this is all there is to retirement, then that's fine with me. As long as you have your health & enough brain cells & money to survive, retirement is heaven on earth.
God said you're not supposed to retire.
@@steveletro4252 The Lord Jesus Christ.
@Ian The existence of Jerusalem proves the existence of God.
@@davidlafleche1142 First, define retirement. Are you talking about laziness, or financial freedom to determine how you spend your time? I think that is a significant distinction. Second, chapter and verse, please.
@@paulplant7956 God says man must keep working until he dies. We can take a day off, take a vacation, etc.; but retirement is a sin.
I’m 76 and retired from teaching 13-18 year olds History seventeen years ago. I’ve been fortunate to enjoy good health. Retirement has been fulfilling and I’ve never been bored. I’ve done voluntary work with refugees and the Red Cross which has broadened my horizons considerably. I’ve lead tours of small groups to India and elsewhere and I still ride my motorbike to countries like Spain and Portugal. My greatest happiness comes from my grandchildren and family as well as friends. As time passes I’m all too aware how limited it is and am thankful for each day. Sit down and think what you want to do it then do it!
What? Your job isn't your identity? That's crazy talk!!!
To my Dad and Mom - I made it thanks to your spirit and guidance and sacrifices! Peace and Love to all who work hard and persevere. To my Grandparents who set the examples they followed.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
Rebecca Nassar Dunne is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
An outstanding contribution to senior citizens.
For me the secret was planning and flexibility. I experienced Phase 1 and 2 before retiring: my husband died right before COVID hit and I worked from home until I retired 2 years later. That was an incredible blessing, giving me time to grieve, reflect and think about what I wanted from my new life as a single person. By the time I officially left my job in March 2022, I was ready to jump into Phase 3. Having a long list of options helped me stay focused; I’m enjoying volunteering, yard projects, learning piano, and rebuilding my social life. I’m looking forward to Phase 4 but expect I’ll be in Phase 3 for a long time. Finding purpose is key. In my experience, my friends who are not serving others or staying socially active are the ones who struggle most.
Alisa, your last sentence hits home. My dad and his brother married sisters. So the genetics I would think are very similar. Unfortunately, my dad had dementia for 5 years before passing. My mother now at 88 is starting to show terrible signs of the disease as well. On the other hand, my aunt and uncle who are very social and active do not seem to show any mental struggles.
@@timmartin4952 I wish our society had better systems in place for aging successfully. For me, at 64, I find that staying mentally, socially and physically active helps a lot but it takes effort, planning and resiliency. Remember to care for yourself as you walk through this difficult stage of life with your mother. All the best to you.
@@timmartin4952consider this. Your mum cared for your dad I presume?
In that time of transition she understood he was changing.
Initial normal frustration of a man not remembering what was something he always had none. Frustrated because he blamed her deflecting her accusations because his memory was affected but the normal part of his brain was unaware so of course it had to be her.
The fear of discovering it wasn't kept that going then truth hopped in and he was scared.
She adopted new way of living or got even more frustrated.
She was grieving while caring for him keeping him going trying to keep him as high functioning as possible to keep him with her, to keep from that final separation.
She also has to maintain her own sanity because if not family may force her to do what she fears, separation that will be like a double death for her to handle.
She has to accept she can't expect, well anything of him and she has to let go of the security of when he could do everything automatically.
She has to walk on eggshells to keep him calm and herself too.
She has to walk in his world, adapt to his thinking and lack of and adapt to think for both of them.
So after a time that new behaviour is normal and if he did go to a home then she is left alone and simply keeps that behaviour going because it has become a habit, unconscious and automatic.
She had to stop being normal to survive life with him.
Now perhaps she simply needs encouragement and reminding she is still that other person inside.
The other reason she may indeed be slipping into that other world is because her brain indeed has been trained to go that direction and if they were so close she doesn't care anymore about being anywhere else either.
At 88 normal aging can affect memory and grief caused by loss of him even before death may have triggered her journey or allowed her to merely decide she might as well join him because life without him not worth living.
@@alisab3041 thank you very much. She took care of me and now it is my turn with her. Fortunately, I live very close so I got to help a lot with my dad. Even in his state, we shared some good times and I can look back on those and smile.
@@timmartin4952 👍 my son lives in the same town as I do, and I know we will both help each other if that’s necessary down the line. My friends with kids on either coast and no one nearby feel more vulnerable. Sending you wishes for more sunny days than cloudy ones.
I’m in phase 2, and this talk was so helpful. Thank you kind sir.
You are in phase 67. Or maybe 9 .
I hope you use phase two for some profound reflection and enjoy the challenges of phase three.
There is a pot of gold at the end of the 🌈
What an amazing talk! I'm new to retirement and have been through the first 2 phases, dabbling in phases 3 & 4. It is so helpful to see that I'm not weak or undisciplined by feeling as lost as I was (and still am at times as I do trial and error)! Thank you Dr. Moynes and TEDtalk for sharing this!
I am 75 years old and 10 years into retirement. All of it spent in phase 1 with a smattering of phase 3. After a working and personal life of service to others, I'm done with that! I'm the focus of my 'service' now and lovin' every minute of it! But I am glad you have found a system that works for yourself, too
Interesting and well presented. Thanks I retired 5 years ago. And my first phase was disbelief - I actually made it to retirement, and it was like a vacation! And with my hobbies, physical fitness programs and travel (limited, sadly by the pandemic) It continues to be an enjoyable vacation for me and for my wife of 50 years, as well.
I retired at 55 and now in my 3rd year and I'm still firmly in phase 1.
I made a study of retirement prior to my own retirement. I concluded that it is essential to exercise the mind and the body and that happiness is feeling good about yourself. This is almost always through service to others. Very well organized talk and I hope many benefit as I have. Thank you.
Thanks for that! And now, get off the internet and go for a long walk to the shops. And then... plenty of "then" lying around awaiting attention. Excelsior, as one very old friend used to say, at the end of his letters. His parting message to me was "No more books and CDs please, but another 30 pages". (He was talking about the book I was writing, which he was reading as and when I sent him completed chunks). He was 92, and began his second life at 53, becoming a world expert in the subject he most loved.
Right, something I've said over the last few years, my problems will still be waiting there for me when I get home, or get back to them, but helping others with their problems is an opportunity of the moment that I need to take advantage of when they arise.
Spot on regarding the 4 phases of retirement,i do contract work and live abroad some of the year so i understand the need for doing something each day so you don't get bored or depressed.Sometimes i get up and i don't know what to do but often i find something to do in the mornings so the rest of the day i feel better having done something.I am considering retirement as soon as possible so i have alot to think about!
I am 73 and still teaching English part time to French professional workers. Very happy to have this possibility. It keeps me on my toes and the extra money helps.
I’ve been retired 14 years now and am still enjoying phase one of complete freedom.
Me too, though I feel guilty sometime that I shall do more . I guess it's becouse I always prioritized so much when it came to my personal life
Hey Carol, good for you !
Funny, I just posted pretty much the same thing before reading your comment..
I retired in 2021. Recognize parts from more than one phase. Enjoy controlling my own time, but have a schedule because I have 4 dogs that depend on me. Often alone, but not lonely. Lots to do. My biggest issue is my physical health started to interfere with things I want to do. The things I did throughout my life have taken a physical toll.
It''s not about doing; it's about being.
A friend was about to retire from 35 years as a professor and was full of anxiety about what he was going to do. This is a man who played golf weekly, painted, tended a beautiful garden, had a wonderful marriage, 2 children with 3 grandchildren, and numerous other interests.
So I said to him, "It's not about what you are going to do; it's about who you're going to be.
Two years later I bumped into him and he was happily retired, doing all the things he had previously done. The difference was he had reshaped his identity.
This is my 12th year of retirement and I swear, I’m still in Phase 1! Loving it. 😅
Prior to watching this TED talk, I made it to phase 4 by serving others! Serving others brings me so much joy. In my case I lead 5 mile hikes, volunteer at a homeless shelter, baby sit my Grandnephew two days a week, and started a Moms and Toddlers group for the community that I host at my church.
This was very good. However, I think one phase was overlooked. I’ll call it the Caregiver Pause Phase - experienced more often (but not exclusively) by female retirees. This is the phase where you are forced by desire and/or obligation to pause your natural retirement flow and take on an unpaid difficult and exhausting job of managing the finances and/or healthcare of elderly parents or other relatives. It can entirely interrupt your retirement for months or years, and depending on numerous factors it can be a blessing or a burden.
Just surprised he didn’t mention it!
NAILED IT, Martha! 👍
He didn't mention it because he is not a woman.
Or your spouse!
Yep. I didn’t get that freedom of retiring. I was so looking forward to it.
That is a really good point. I know many women including myself who ended up in that situation.
Excellent analysis and presentation. I'm 71 and retired at age 60. The retirement was a forced self-imposed event however, due to pending severe health. Pending due to a failing liver that would require a "slower" pace and careful monitoring. Eventually as the realization of my future became clearer I settled into phase I ( sort of) but phase II followed after the first 2 years. Tried phase III but had "limited success". Cooking however lingered and fell over into phase 4. Started a TH-cam cooking channel with my wife and enjoy it immensely (The Insecure Chef). Seeing children and grandchildren with both groups occasionally asking advice, made it clear that I'm still of use to myself and my family. Be patient, it takes time but God willing phase 4 will pop up one morning.
Oh, and by the way, received a liver transplant on Thanksgiving 2019 and feel better then ever. Good luck.
Good to hear about your improved health! Wishing you much success and happiness with your YT channel.
@@cristinaxo Thank you. It is appreciated.
I retired at 58, also because of a health matter(Failed back surgery, which left me with limited movement and chronic pain). 2 months after retirement my mother became chronically I'll with an assortment of ills(Intestinal bleed,Cancer,Stroke, Heart Attack). I cared for her on a daily basis 7 days a week until her death at age 90 in 2021. I now feel lost because of the loss of routine like the speaker mentioned not to mention the loss of my mother. Even though I was financially prepared, the state of the economy is a strain on me.
This is my favorite reply! Physical challenges disrupt a life differently than retiring when you are healthy. But I think that because of the obstacles, we appreciate our time very differently. Not everyone can walk, or drive, or even get out.
I retired at 60 through stress. I didnt expect it and am just accepting it now...sort of. I am beginning to plan to enjoy my time walking hobbies and grandkids. Its been 2 yrs for me to begin retirement now im 62
After a couple of weeks in phase 1, I apparently went directly to phase 4. I've been retired for 9 years, and none of it sounds like the story here. The key is probably to volunteer and have hobbies that let you connect with others before you retire.
I met this retired couple from Europe while I was living in Africa and what the lady was doing in her retirement was that she volunteered (but they paid her anyway) to attend this office at 0930 hrs daily and clean up the coffee area, make coffee for everyone (she had a list) and delivered them to each office or conference room. Then she would clean up again before lunch and head home for the day. She worked there for years and they treated her very well with not only a nice little salary but gifts and kindness etc. I think that was a symbiotic styled event. Very nice.
At 61 with 62 approaching, I found this a really wise and practical talk. Thank you.
Retired 5 yrs now, I’m either permanently stuck in phase 1 or skipped to 4 with 1 being my definition of success and happiness! Enjoy every minute of retirement!
That's great! It's been over 2 years for me and I have not hit phase 2 yet. I didn't over-identify with my job or think that it was my life's purpose; it was a means to an end with some satisfactions along the way. My routine was grueling and I don't miss it. I miss some of the people from my last job but my primary relationships have always been outside of work. And for me a sense of power was not applicable in my job. Who knows, maybe phase 2 will hit at some point but I am not there now.
Well said. Go into retirement with a plan to move toward phase 4 and enjoy the trials and tribulations along the way.I have 4 more work days as a surgeon!
Happy Retirement, Dr. Lewis! And Merry Christmas!
Have you adjusted to your new-found freedom? Where does one go after being a surgeon? Travel? Trying to figure it out after retiring from life on the road. Strange to not be “going somewhere.”
Just what I needed to watch.
My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52.
We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@elliot985 Please can you leave the info of your investment advisor here? I’m in dire need for one.
@@robertosaviano215 You can do your research and be on the lookout for one with intelligent strategies who'll help your portfolio maintain an unwavering and a progressive growth. Isabel Cecilia Ramsey is my FA. She has the Flexibility & Expertise to Meet Your Needs. Verify her yourself
@@elliot985 I just looked up Isabel online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
❤A phenomenal rendition of the retirement process.Thxs.
Great presentation. I retired at 67 in 2019. I am in phase 4 and feel very complete. I worked on computers in various capacities throughout my career. Today I update my church website and fill-in for our church secretary when she has need. I also have grandchildren that I sometimes pick up from school or drop of for practices in various sports. Teach my grandson piano and baking (he loves to create in the kitchen) and I am content. I live in a beautiful gated community with lots of activities and I still get the "vacation" aspect of phase 1. I don't travel but it's never been an interest and in this day and age, I really have no desire to travel. I am content both alone and with family and friends. I feel very blessed.
Thank you, Dr. Moyne. I'm staring down the barrel of retirement, holding on to my working life with white knuckles, even though I don't need the income, under the pretext of "I like my job and I enjoy working around (much) younger people". I never planned to retire to shuffleboard (or curling) and BINGO, and I have many proven avenues where I can continue to grow and contribute, but I'm reluctant to pull the trigger. Thanks for your thoughtful, encouraging, and perfectly timed talk. Thank you also, O TH-cam Algorithms, for suggesting this TEDx talk to me. You got it right this time.
What caliber is the barrel…squinting might help
Go ahead, pull the trigger. The freedom is fantastic!!!! It will take time to adjust. Enjoy the ride!!!!
This talk is for people who did not develop and nourish a life outside of work.
Outstanding content! I retired 5 years ago and am just now heading into phase three. It’s been a rough few years. I lost both of my parents and my dear sweet pet in the last 3 years. I was depressed and my kids were concerned about me. My daughter invited me to go to church with her family. I’ve never been religious but just spending every Sunday with family has been so fulfilling. I now feel grateful for all that I have been blessed with. I’m much more fun to be around and I’m exploring ways to be more fulfilled.
What an excellent presentation and speaker. If only every talk was so well planned and informed. So entertaining...so on point. Thanks.
Great talk! I am 63 and have one foot over the 'ol nurse pasture. I am fortunate to shift my dreams and grateful to retire TO something, which is teaching nursing students. I get to do this part-time, which is perfect right now. You discussed "divorce" as part of Phase 2. Why after decades married, do couples divorce? The other significant loss would be death of a spouse or partner. Finding, maintaining, and nurturing a purpose seems to be the key to longevity and joy in retirement.
We have been very happily retired for about 18 years, I am 77. There are many models but my advice for what it is worth is make a new it a new start, a chance to reinvent yourself on your terms. Don’t have a phase one but start on projects whatever they may be, if possible make a start before you retire, learning, training, setting up resources so you can transition into it.
Great advice
Well, that worked for you. That’s great!
Some people have had stressful long term careers without ‘unplugged’ vacations or they were not able to take their vacation time at all for decades (for instance, corporate senior managers and many middle managers in North America). Others are just used up and burnt out. So there is a need for many people to relax, recover and heal before making any new commitments. The time frame for this may vary.
@@Katnip7770 Hi Joanne, I’m not saying don’t take vacations but if you are stressed out, and I certainly was, it’s good to fill your time and mind with something you really enjoy, in my case it was teaching myself woodwork but we also went cycling in Europe and did a lot of skiing.
@@Katnip7770 Crafting hobbies such as: knitting, crochet, sewing and card-making, can be begun at any age, while working or post-retirement, by any gender.
They are mostly female-dominated, but a few brave/confident males are quite adept in each field.
Not everyone can do these hobbies, due to arthritis or failing vision, but a great many retirees and some pre-retired do them - and even a few retirees with these problems do find a way.
They function as charitable contributions and purpose if you find one of the many charities who donate these items to people in need, for whatever reason.
There's no requirement for commitment, or adherence to a schedule, and they can be quite relaxing (even as a cheaper replacement for therapy or vacations!)
Best of all, they can be done in your own time, from the safety of home.
Retired in 2010. There were so many things I left behind after college that I wanted to pick back up again, and so many things I learned during my career that I wanted to take in another direction, I pretty much skipped over the vacation period. I've been able to serve my daughter in her business, take tons of classes on Masterclass and Coursera, and now I'm in the middle of the most creative period of my life. But I did prepare for this part of it. About 10 years before I retired, I started taking art classes again to catch up on the technology and blow out the cobwebs. I took a year off a 55, traveled and volunteered to give myself a preview. The most important thing is to be prepared, to be interested in life and be engaged.
Aydede
you took a year off, that was the vacation part it seems
Love this speech, I will do as you said
I’ve heard people talk about the 4 phases of retirement, and it makes sense. The early years are so different from later stages
The first phase is when you're newly retired and still active-what do they call it, the 'go-go' years? You’re traveling, enjoying life, maybe spending more than you planned. It’s exciting, but it’s also when you’ve got to be careful about dipping too much into your savings
By that time, you’re probably spending more on healthcare and less on fun stuff. If your portfolio isn't balanced and ready for that, you could run into trouble
I actually sat down with my financial advisor a few months ago to talk through these phases. He’s been helping me figure out how to shift my investments as I get older without losing too much potential for growth
I hear you. That’s why I went with Joseph Nick Cahill. He’s got over 20 years of experience, and he’s seen all sorts of market cycles.
He’s really good at helping people transition through each phase of retirement, making sure your portfolio is not only stable but growing where it needs to
I’ve said for years “no one teaches us how to retire” thank you for addressing this issue
7 years and still in phase 1, and loving it,
I love his message to remain in service to others.🙂
I share the value of service to others, but when it starts to evolve into servitude, the slightest whiff, I walk.
Great talk. There is a 5 phase needing to be prepared for, which is when your health declines and you learn from others how to learn to leave this earth.
Good talk! I’m 5 years away from phase 1. My wife and I have only focused on the financial aspects and haven’t considered the "loss of purpose” aspect of retirement.
I retired from full time work about a year ago, but was able to stay with the same company in a part time capacity. I've been thinking about retiring completely in a year or two, but when you mentioned the loss of relationships, that was an eye opener for me. I think I'll continue to work as long as I am physically able to.
I've been retired for a year now and it's a mixture of phases one and four. But what really helped us out was 11 years before we retired we moved from the city to 32 acres in a rural area. I get to mow 9 acres of lawn, I get to do a lot of reading now, I'm finishing the interior of a pole barn I had built that can now be used both as a shop building as well as a large music room next to it, man cave, craft room for all of us. There's literally always something to do here. I know I play in my church's band, I occasionally teach Sunday school, and would like to do more of the latter.
Human beings are wired to get joy from helping others. If you're not helping others it's just a road to misery. And that's whether you're retired or not. The difference between now and when I was earning a living is now I get to do what I really think is important rather than what I need to do to make money to live.
This is more my kind of comment. I will be 60 in a couple of months and plan on retiring 3 months after I turn 62. I think you had the right plan with the workshop and staying busy doing handyman type stuff and working with the church. I bought 3.5 acres of vacant land last year that's not even a mile from our subdivision. I plan to build a metal workshop there and have a garden and place to burn brush from the yard and have bonfires. The land has a large pond on it and crazy as it sounds, I want to try farming Talapia and fresh water shrimp. Maybe even aquarium fish. Money will not be an issue because I have us setup to have a little more income than what we are making now. I am really hoping I just stay in Phase 1 for a long time to come. I was never the type to get glued to work and work relationships and all of that so I don't really think I will miss it even tho I have been in my career for 35 years which is construction engineering. Anyway nice comment and good luck!
Thank you - Still not retired at 70 - husband the same age and both terrified at the prospect of retiring - my brain dreams and can imagine phase 1 - indeed the dream is to spend six months in Europe just chilling in a small village here, a small town there - over the years we've explored and visited many places now we just want to immerse ourselves into some gentle day to day living in another reality - the terrifying bit is we don't know what to do after that.
That may be all you need to do, if it provides the kind of enriching fulfillment that you desire. This was a great talk and I believe it will apply to most retirees, but it doesn't have to apply to you. if you enter retirement with a plan and some creative vision, there is no reason you can't jump straight to phase 4!
I agree with DLG. That is a great response!