I just pretend nothing bad is going to happen mate. New subscriber here (65) from New Zealand. Got a house with no mortgage and no savings. My one thing to keep doing over 65 is to be optimistic and not think about shit that might or might not happen. It's always come out in the wash before and I've had my share of adversity so never underestimate your ability to escape disaster no matter how old you are. Optimism is the key to a happy life in retirement.
@@peterelliott2914 Hey Peter thanks for watching and your comment here as I do really appreciate it. I agree 100% with your comment too as I am a very positive person. If you've got time check out the last two videos that I did too as I think you might enjoy them. Good luck with the road ahead and have a great day today mate 👍
Don't forget there are millions of self funded retirees in Australia of which I am one. I don't get 1 cent from the Govt. I still pay tax on my investments outside of Superannuation.
@@calvinsmith1295 thanks for watching and commenting Calvin. I presume they make up the 35% of retirees that don't access the pension. Like I mentioned in the video the figures that I dug up were that 65% of people aged 65 or over receive some portion of the pension in Australia. I was really surprised that the number in the US is 90%!
Lots of good points Brenden. I've opted to keep my various trade and other work related licenses current and paid up as I still do the odd bit of work for the very reasons you've stated. If hard times really hit us I'll still (in theory) be able to get out and earn a living - some sort. Although at nearly 65, I'd rather be taking it a little easier. Cheers and thanks for the heads up. Sean.
Thanks again for watching and commenting Sean. I don't think it does anyone any harm to keep up those skills just in case you may have to use them in the future.
The best thing to do is make your own millions to retire with I will never apply for any government assistance EVER have and never will I have heard this before great content make your own wealth 😀👍😉🤔🏠💰
@@cameronalexander359 thanks for watching and commenting. I'm so much more aware of inflation and what it's doing to everyday items now than when I was younger. However, I do remember when I was growing up that Mum and Dad used to always say you know things used to be X or y back when they were kids and now they're so much more expensive, so I guess it's just a constant.
if billions weren't sent overseas or on international corporations to operate in Australia (because they now sponge off our tax dollars instead of obtaining finance) then we wouldn't have this talking topic. 26 million in australia, billions wasted, do the math. this is a problem because most people are complicit to the theft of our labour income.
But surely those retirees that you are talking about paid into the system during their working lives, they paid into a system adopted by the governments. I pay into a system here in the UK which was put into place by the government and that money is deducted monthly from my salary. So what went wrong? The money should be there. Perhaps that money was mis allocated or the whole thing is just a Ponzi scheme. I suspect he latter is the case.
Thanks for watching and commenting here. Australia has a similar system to what you guys have in the UK I think. Money gets deducted from our pays every week and we also have another system that you can add money to. Let's hope for both our sakes that it doesn't run out and it's there when we need it. 👍
@@touchstar68 yes I know. I was in a bit of a rush to get it out. In a few months you won't be able to tell the difference because this is the worst it will ever be.
I'm 64 will qualify for the pension when i turn 67 but will properly never get it because I have to reside in Australia for 2 years either before retirement age or after retirement age worked for 43 years in Australia and get nothing lucky, I have super and an apartment in Australia to hopefully support me in old age so I can live in Asia
Thanks for watching and sharing your story. I've been looking into retiring in Asia over the last couple of years with short trips to the Philippines and Thailand and plan on going to Vietnam to scope that later this year. Where are you based again?
Hey @oldbloke204, moving to Asia isn't a must for me-just a tempting option! Staying in Melbourne means I can predict the future, but if I head north, the adventure could lead anywhere. The unknown is still pretty interesting for me.
@@BrendenSharp We've never been travellers, or been interested in it, and I'm more focussed on what's going on in the world and how it may affect us tbh. Each to their own as always.
Govts. have made a lot of promises over the years and they're now coming home to roost. Demographics is one of the reasons for all the immigration but it is bringing its own challenges. I heard a figure for how many in a certain country were on benefits and it was quite a big percentage. Sort of not what they wanted. I watch a guy who reckons that demographic issues will have a huge effect on various countries over the next decade or so. More and more people coming into retirement with debt and older folks are one of the larger demographics when it comes to homelessness. Another thing to consider perhaps if people are thinking about heading overseas in retirement as it isn't a hard one to sort out by Govt. Interesting times ahead imo.
Thanks for watching and commenting again. I was surprised to discover that 65% of Aussies are on the pension at 65 in Australia and 90% are on some form of Social Security in the US.
@@BrendenSharp In the US anyone who has worked a certain amount of time will get it and it varies according to the age it's taken. Here people can get varied amounts of Pension so it could be anything from $1 up to the max. All depends on how many assets you have. I suspect that reliance on the Pension here may decrease as Super balances get larger as people have more time to save but who knows. In NZ every citizen can get a pension at 65 as can Australians if they qualify afaik. A family member of mine went back to NZ after making a motza here and in other places and still qualified for a full pension.
@@BrendenSharp It's an interesting argument really. If you save a lot of money here you miss out on the benefits of the Pension but then you really don't need it either. The trick seems to be to try and hit the sweet spot where your Super and pension give you the best outcomes. Given the PPOR isn't used in asset calculation it can encourage people to plough funds into the family home or buy a more expensive one. You can downsize and stick some funds into Super as well but I really haven't looked into it all yet.
@@colinlatham7905 Thanks for watching and your comments. A few items are factual, like the population growth for that demographic, the need for both governments to fund the retirement systems, The increase in life expectancy, there's definitely going to be economic volatility, and they always change the rules.
As long as 🇦🇺 keeps the gates open for more doctors and brain surgeons (like in Europe/UK). (Flooding our nations w useless mouths is the key to any strong and robust economy)
@@marcusaurelius6012 thanks for watching and sharing your wisdom. I feel honoured that a stoic philosopher watched my TH-cam video! I'm a fan of yours 😁
I just pretend nothing bad is going to happen mate. New subscriber here (65) from New Zealand. Got a house with no mortgage and no savings. My one thing to keep doing over 65 is to be optimistic and not think about shit that might or might not happen. It's always come out in the wash before and I've had my share of adversity so never underestimate your ability to escape disaster no matter how old you are. Optimism is the key to a happy life in retirement.
@@peterelliott2914 Hey Peter thanks for watching and your comment here as I do really appreciate it. I agree 100% with your comment too as I am a very positive person. If you've got time check out the last two videos that I did too as I think you might enjoy them. Good luck with the road ahead and have a great day today mate 👍
Don't forget there are millions of self funded retirees in Australia of which I am one. I don't get 1 cent from the Govt. I still pay tax on my investments outside of Superannuation.
@@calvinsmith1295 thanks for watching and commenting Calvin. I presume they make up the 35% of retirees that don't access the pension. Like I mentioned in the video the figures that I dug up were that 65% of people aged 65 or over receive some portion of the pension in Australia. I was really surprised that the number in the US is 90%!
Lucky you
@@Helloworldwrjfjrjrj Still working full time by choice. 😃
If im not mistaken, I believe here in the US, we have to accept SS payments by age 70 whether we need it or not.
Lots of good points Brenden. I've opted to keep my various trade and other work related licenses current and paid up as I still do the odd bit of work for the very reasons you've stated. If hard times really hit us I'll still (in theory) be able to get out and earn a living - some sort. Although at nearly 65, I'd rather be taking it a little easier. Cheers and thanks for the heads up. Sean.
Thanks again for watching and commenting Sean. I don't think it does anyone any harm to keep up those skills just in case you may have to use them in the future.
The best thing to do is make your own millions to retire with I will never apply for any government assistance EVER have and never will I have heard this before great content make your own wealth 😀👍😉🤔🏠💰
Thanks for watching and sharing your philosophy and I totally agree with you.
We can either save like crazy in an ever depreciating currency, or make peace with working until our last days.
@@cameronalexander359 thanks for watching and commenting. I'm so much more aware of inflation and what it's doing to everyday items now than when I was younger. However, I do remember when I was growing up that Mum and Dad used to always say you know things used to be X or y back when they were kids and now they're so much more expensive, so I guess it's just a constant.
if billions weren't sent overseas or on international corporations to operate in Australia (because they now sponge off our tax dollars instead of obtaining finance) then we wouldn't have this talking topic.
26 million in australia, billions wasted, do the math. this is a problem because most people are complicit to the theft of our labour income.
One day I am sure that the family home will be counted in the Asset test.
@@darrylknight2675 one thing is certain, and that things will change over time.
4sure
Well im glad i don't have to factor the age pension into my retirement plan!
@@Ragnar6000 thanks for watching and commenting. Yes, it could all go pear 🍐 shaped!
But surely those retirees that you are talking about paid into the system during their working lives, they paid into a system adopted by the governments. I pay into a system here in the UK which was put into place by the government and that money is deducted monthly from my salary. So what went wrong? The money should be there. Perhaps that money was mis allocated or the whole thing is just a Ponzi scheme. I suspect he latter is the case.
Thanks for watching and commenting here. Australia has a similar system to what you guys have in the UK I think. Money gets deducted from our pays every week and we also have another system that you can add money to. Let's hope for both our sakes that it doesn't run out and it's there when we need it. 👍
Them are some bad AI generated pictures.
The hands are the give away.
@@touchstar68 yes I know. I was in a bit of a rush to get it out. In a few months you won't be able to tell the difference because this is the worst it will ever be.
I'm 64 will qualify for the pension when i turn 67 but will properly never get it because I have to reside in Australia for 2 years either before retirement age or after retirement age worked for 43 years in Australia and get nothing lucky, I have super and an apartment in Australia to hopefully support me in old age so I can live in Asia
Thanks for watching and sharing your story. I've been looking into retiring in Asia over the last couple of years with short trips to the Philippines and Thailand and plan on going to Vietnam to scope that later this year. Where are you based again?
Why do you feel like you have to move to Asia?
Hey @oldbloke204, moving to Asia isn't a must for me-just a tempting option! Staying in Melbourne means I can predict the future, but if I head north, the adventure could lead anywhere. The unknown is still pretty interesting for me.
@@BrendenSharp We've never been travellers, or been interested in it, and I'm more focussed on what's going on in the world and how it may affect us tbh.
Each to their own as always.
Govts. have made a lot of promises over the years and they're now coming home to roost.
Demographics is one of the reasons for all the immigration but it is bringing its own challenges. I heard a figure for how many in a certain country were on benefits and it was quite a big percentage.
Sort of not what they wanted.
I watch a guy who reckons that demographic issues will have a huge effect on various countries over the next decade or so.
More and more people coming into retirement with debt and older folks are one of the larger demographics when it comes to homelessness.
Another thing to consider perhaps if people are thinking about heading overseas in retirement as it isn't a hard one to sort out by Govt.
Interesting times ahead imo.
Thanks for watching and commenting again. I was surprised to discover that 65% of Aussies are on the pension at 65 in Australia and 90% are on some form of Social Security in the US.
@@BrendenSharp In the US anyone who has worked a certain amount of time will get it and it varies according to the age it's taken.
Here people can get varied amounts of Pension so it could be anything from $1 up to the max. All depends on how many assets you have.
I suspect that reliance on the Pension here may decrease as Super balances get larger as people have more time to save but who knows.
In NZ every citizen can get a pension at 65 as can Australians if they qualify afaik.
A family member of mine went back to NZ after making a motza here and in other places and still qualified for a full pension.
Yes I heard that no matter how much you have in assets they still give you a pension.
@@BrendenSharp It's an interesting argument really.
If you save a lot of money here you miss out on the benefits of the Pension but then you really don't need it either.
The trick seems to be to try and hit the sweet spot where your Super and pension give you the best outcomes.
Given the PPOR isn't used in asset calculation it can encourage people to plough funds into the family home or buy a more expensive one.
You can downsize and stick some funds into Super as well but I really haven't looked into it all yet.
@@oldbloke204 yes that's my understanding. The only issue is if the government changes its policy at some stage in the future.
They always have money for war though
Oh well I will be dead by then. A lot of assumptions here, a risk yeah, likely nah.
@@colinlatham7905 Thanks for watching and your comments. A few items are factual, like the population growth for that demographic, the need for both governments to fund the retirement systems, The increase in life expectancy, there's definitely going to be economic volatility, and they always change the rules.
As long as 🇦🇺 keeps the gates open for more doctors and brain surgeons (like in Europe/UK). (Flooding our nations w useless mouths is the key to any strong and robust economy)
@@marcusaurelius6012 thanks for watching and sharing your wisdom. I feel honoured that a stoic philosopher watched my TH-cam video! I'm a fan of yours 😁
@@BrendenSharp keep up the good work B, and keep rising above the noise. There is some rough sea ahead for all of us. Keep the posts coming
@@marcusaurelius6012 thanks mate, much appreciated and I plan to keep trying to pump out the videos. 👍
Boomers win again. Everyone else loses. Groovy!