Planning To Retire? I Can't & Won't. Here Is Why.
ฝัง
- เผยแพร่เมื่อ 1 ก.ค. 2024
- Retirement was a reality for most middle-class people in the early 1990s. This documentary that I made back then has become American "history." I made it about a time that for most of us, including me, doesn't exist anymore. There is no retirement for me and millions of people like me. So this film is now a vision of something that didn't happen for most and didn't happen for very long in American history. I have friends who are retired. They play golf. They sometimes donate time to charitable causes. They live a slow life and don't worry. They go skiing if they are healthy enough. But a fair amount of the time it seems to me, they get slower and slower and slower and then they die. I tell myself that when I just don't want to work anymore I'd love to be retired and just travel with my wife slowly and easily without a thought or worry in my head. Instead, because I have and always have been a freelancer (they call it) and always looking for that next job that would in the short term, keep me and my family going, I've never had retirement as a thought in my head. But I am now 80 years old and almost 81. It would be nice to have retirement coming in from the years I spent working and paying my taxes. I never thought about it when I was younger. The next job was always there although sometimes I had to work really hard and sell really hard in order to find it. I didn't like selling myself or what I was to but I did it because I had to. And when I got a job, my team and I did our very very best to do it as best as we could. Not just to get by. But to really make a beautiful film that satisfied us as well as our clients. I don't have a 401(k) and I'm not sure what it is. Every time I entered the stock market with money I had, I lost. I mean every time. I was cocky in 2000 right before the Internet technology bubble burst and companies became worth nothing that worth millions just the day before. In those days, I worked for stock rather than for salary hoping for the big wins. I got a few, but when the market crashed I lost virtually everything that I had. Dumb of me. Not blaming anyone else. It put me back to work and over time, that work led me to TH-cam as a way that I might be able to make a living. These days I make a good part of it from what I do and from the people I help present themselves on their companies and products and services more effectively on TH-cam. So what I like to retire? Well…i would like to experience it for a while and then get back to you with how good or bad I felt about it.
- ภาพยนตร์และแอนิเมชัน
That pouting face
Take a look at this one. Wall Street at its nuttiest!
th-cam.com/video/8e1g-0n8iGo/w-d-xo.html
David Hoffman filmmaker
Joined the military at 17, served 21 years and went on to complete a second career, found out about 401K and maxed it out, living well. Followed my grandfather advise, if you can’t pay for it, you don’t need it. Never deviated from that advise.
Question: Do you rent or own your home (have a mortgage)?
Were you lucky enough to have someone leave you some property?
I own my home.
@@bitteroldman701 Interesting!! Glad I got my divorce over early!! It's not easy being married but I see it's better than the alternative!
I worked a second career and receive a pension from the military. I maxed it out for twenty pus years
@ManifestingMe My daughter is maxing out an IRA that she'll use for retirement as well as her military pension. She can get full retirement benefits after only 20 years of service. She is retiring the same time her Dad is!
Car payments are one of the biggest financial road blocks to a healthy retirement. Quit buying cars you can't buy with cash.
I've owned 12 new cars over the decades. Two new motorcycles. I regret not one of those purchases. People working and scrounging their whole lives til retirement ? A lot of them drop dead at 50 doing that. Many others drop dead at 65 and leave all that $ cash & property to kids that will make far more income than the parent ever did. You better live it up and enjoy life , especially 35 to 60. It's later than you think.
matt75hooper you gotta balance fun and taking care of the future. Also a large percentage of people live way past their 50s
@@MrGrenade121 I will not regret any of the 12 new cars I purchased over my lifetime. I am buying #13 soon. When you work your ass off for 50+ years & leave behind $100k....$200K.....$500K- what do you think your heirs do with that money ? First stop- Buy a new car lol.
@@matt75hooper Lol. Trust me I wanna live life like that too. I'm just too deep in debt currently that I don't allow myself for huge purchases. Student loans suck haha. I'll enjoy life in a few years after I'm debt free
@@matt75hooper keep on buying. Better deals for me when I buy your cars at a 40% discount.
I retired at 65 I am now 67 I have helped at a church food pantry for about 6 years I stay active With Friends I walk around my Park even in the winter I have two neighbors that are younger than I am that don't drive I take them places they need to go I also have my mother that is 87 that I take to the store twice a week and doctor appointments I rarely ever watch TV about two months ago I started looking at stuff on TH-cam I do read a lot and I get my books from the library the main point is I keep myself busy
Yep, staying busy is what it’s all about.
Its good that you can afford to volunteer vs having to take paid positions.
@@seanb6478 ,
I worked many years settings money aside so that I no longer have to work a paid position and I can volunteer even when I worked full-time I would often take a vacation day to volunteer at the food pantry
@@debbieframpton3857 That's a blessing...many don't have that luxury.
I'm retired and spend most of my time working with hospitalized veterans as a VA Volunteer. I am leaving most of my estate to charity after I pass away.
I'm moving to SE Asia, marrying an attractive beautiful young wife, maybe having some kids and leaving everything to her. I served, that was enough imo.
I grew up hard. Quit school early to work labor jobs. It was awful - I'm 57 I still have nightmares about it. I learned about mutual funds and eventually real estate. Living on a shoe-string and investing with a hope to someday escape the working world madhouse eventually came for true for me.
But in a strange twist of fate I'm grateful for the humble beginnings - it was valuable motivation.
Same here......I never expected much. I had enough growing up but we must have been poor. We ate out occasionally but split entrees, never got a soda (I can still here my mom, "drink water!"), went to the movie theater about once every few years and split the popcorn and drink, I never thought a thing of it. My grandkids are so spoiled it makes me cringe. Their parents have decent jobs but have forgotten it's not good for anyone to get everything they want. If we ever go through another depression I'm afraid my grandchildren won't survive.
Same here. I got a degree but lack of jobs turned me into an ironworker, hard manual job. But I learned how to invest and fought in Afghanistan got me 100% VA.
@@RedHorsePoker I went into the Army to get college paid for. When it was time to enroll I looked in the newspaper want ads and counted up the different kinds of highest paying jobs. I figured those in the highest demand is what I should major in. It was something called "computers". Worked out pretty well. My love was art so I made that my minor. I knew I wasn't talented enough to make a good living and I knew the pay wasn't great.
The last few sentences are true words. If i could go back to my 18 year old self i would start putting aside 10% of everything i earned. Thats all you need to do
More like 20%
Of course but things change and how can we know what the next trend is? Its good that 401k's don't rely on a business to keep going like pensions do but there will probably be a 401k flaw where some Gen Xers will fall through some crack unknown in the 2020's that will come up & doom us. We may not be able to trust electronic $$, we may need to have physical minerals rather than electronic investments, keep $$ under a mattress, etc.
Complete crapshots.
IF, you make a lot of money. Maybe a doctor or successful lawyer. Most can't afford to do that.
@@MrGrenade121 20% is not necessary for people who start investing at 18. If you're in the USA earning a middle class wage, consistently investing 10% of your income starting at 18 will usually be enough to retire by 65. That's a whole 47 years of investment growth. But most people start at 30 or older, so it becomes necessary to invest 15% or 20% or more. Or they don't know how to invest, and they throw most of their investment money into high-risk individual stocks or low-return bonds.
@@megalodon1726 I invested my IRA and let Fidelity manage it for me. I know nothing about the stock market and didn't care to learn. I guess I've done alright. I can retired, well I am retired and haven't touched my IRA yet. In a few years I'll be forced to withdraw from it but so far do fine with SS and other savings. I have very low expenses and instead of downsizing my house when my children left I put the basement on airbnb. All of it luck........none of it planned. It's in my genes to be frugal though, I'm Scottish (or like they use to say, Scotch!)
Your videos are genuinely somthing that bridge the gap of generations for me. Im a generation Z teenager but seeing these videos with real perspectives of baby boomers is constantly somthing I look forward too. Thank you for uploading your content to TH-cam for people like me to understand more about the people that came before us :)
By being a teenager and having the maturity to have an interest in this subject, I realize that you are very much ahead of the game. Fortunately there are plenty of young people who do have their act together. You are definitely one of them. Be wise and stay wise.
Pop⁹⁹
@@brucebarton2837 Agreed, most seem to hope for Socialism to take over. Problem w/ that it works until you run out of other people's $$$.
@@brucebarton2837 you have a misplaced modifier. The way you wrote your first sentence it's as if YOU are the teenager.
I'm 57, and will probably work till I die.
And now, this week, Congress voted to cut Social Security benefits. I foresee a lot of the elderly dying in poverty, or on the street.
These are the things Bernie Sanders has been working his whole life for. To increase safety net programs, have free medical coverage, free or affordable university, etc. Everything he stands for is to improve the life of the average working class. Yet Americans have been brainwashed by the word ‘socialism’. Bernie is a direct threat to the establishment. Watch and see how mainstream media portrays him. They will all badmouth him, just like the Democratic Party did in 2016.
Just think of how much better life would be if he had won the nomination. I really hope people take the time to educate themselves a little this time around.
Kelly Hudson Where does the money come from to be able to provide “free” medical care and college?
Jerry Atrix See ya 👋
Jerry Atrix No sir, I’m not a quitter. Best of luck
MisterTwister In Canada, and most other democracies, cradle to grave safety nets are in place. College isn’t free here, but we are working on it. I’ve been watching and learning about the US since your last election. All I really knew about the US before that was , as a snowbird, we had to be mindful of tipping more than the 15-20% we do at home.
It’s been an education . I don’t know how your government gets away with not providing social programs with your money.
I’ve had around 10 surgeries, with the associated doctor and specialist appointments, the tests, and follow ups. Free.
I retired at 40, on disability. Then there are 2 government pensions, the CPP ( Canadian Pension Plan), capped at roughly 1500/mth, and at 65 , the OAS (Old Age Security) kicks in, around $450/mth. So there are 3 pensions.
My prescriptions aren’t fully covered. I pay $15/ script.. my husband worked 40 years, so he has a much higher company pension.
Every time we elect a Conservative federal government, they try to cut social programs. Then, when the Liberals are elected, we are prevented to a certain respect, from progressing fwd, because the ground we lost to the Conservatives must be reclaimed, and the deficits Conservatives run up have to be fixed.
But the main thing is, it’s your money. It does not belong to the government. And they are there to serve you, not rob you. It’s been a long time since your huge corporations have been broken up. Your unions are almost nonexistent. Well, we have a problem with union breaking too.It’s just not as bad.
You could have elected Bernie. That “socialist” word Americans are programmed to hate? All it means is having decent safety nets, and more of your taxes spent to take care of people. The American people have been lied to, and conned, for a long time.
Look, Canada is a country larger than the US. With a population that of California, we manage to keep roads paved, all of which heave with the changing of the seasons. We don’t have private banks. They are privately owned, but there are only five major ones. They are not allowed to fail because of laws. We don’t spend a lot on defence, partly because we depend on your country. If we were invaded , the US would protect us in order to protect themselves, plus, we have no real enemies.
We like to say Canadians open their arms to refugees because we are humane, but IMO, humane is true, but so is the fact that the numbers don’t lie, and refugees thrive financially, bringing in additional revenue. We don’t try to force them to assimilate, so they often build their own communities. More Canadians than I care to admit grumble about refugees. But maybe both of our countries need to ask ourselves why so many people are fleeing war torn countries. Who is really invading countries, and creating refugees in the first place? The answer isn’t pretty.
Anyway, I’ve rattled on long enough. But my main point is your country belongs to you. If you don’t change your government, nothing will change for the better. I’m not trying to boast, but it makes me mad to see how America, a very wealthy country, treats her people with no respect, and with indifference. I hope I didn’t come across as being crass. I know I am often blunt. I don’t mean to be, it’s just my personality.🙃
In a way this will keep you living longer. I worked in a retirement home for four years. During that time I observed many people retire, then lead a sedentary life style. They became lonely and a good many became alcoholic's. They also tended die a year or two after retirement. Staying moderately active by working keeps the mind and body healthy and prolongs life. That's my observation.
So true. Something part time that isn’t high stress is best - so true that sitting doing nothing is no fun.
Rich, (good name by the way!) My uncle has the same attitude with the mantra keep moving. He is now 80+ years old, so something must be correct in his views.
I agree Rich. My Dad is 77 and has been a professional photographer since his 20s, he still does about 1 photography job a week, I help him as his assistant. He also helps me on my photography jobs. I know for a fact that working and having something to look forward to has been good for his health, mind, sense of accomplishment, his identity as a bread winner, creativity satisfaction. He's very good at Photoshop and editing, I know that has helped keep his mind active. Even if someone did Photography as a hobby it will help keep someone active and do all the same things for them.
My 83 yr old dad drives around the country with his 79 yr old wife. They just sold their house and bought a different one so will be busy moving after they drive back to MI from FL next month. They always have stuff they are doing, garden, yard work, fixing things in the house, visit different places, etc. they Stay very busy without a “job.”
@@PK-zb6wh Exactly! My husband is retiring early because he has so many other things to keep him busy and bring in cash. I think he can make more in retirement than he did at his job. I know many people who have.
This is real TH-cam gold. Thank you Mr. Hoffman🍻
Whoa! At the 12:40 mark “for decades private pensions were relatively rare”…
Exactly! The idea we all had pensions before the 1980’s is pure fakery
Dude cutting his grass in a shirt and tie! Standards.
This is really eye-opening. Thanks for the upload.
Who would hire 60-year-old women in this technological era? After my business folded, I had to begin over again. Door to door sales -walking with a cane is a good start. Being too old for hire and too young to retire is the worst place to be.
I am 68 and still working and hope to for aslong as I am able it is a dirty word retirement!
Every video you upload is just interesting as hell. Thanks for doing what you do!
One of the few really quality channels, and being 57 and change, it’s great to see what I lived thru. Such great programs and documentaries so to speak.
It would be nice to have retirement coming in from the years I spent working and paying my taxes.
If you didn't start investing in your 20s you probably will retire on social security. Its sad to work 50 years and retire to old age in poverty. But it happens.
My brother who lives in Denver, CO says CO has an "old age pension." He's never worked much, had a lot of mental problems (plus substances) and moved to Denver for the welfare programs. He's done alright. Kept a roof over his head and does pretty much whatever he wants to do. He hasn't worked enough to collect SS but said he will get an old age pension. Never heard of it myself.
There are other ways. I retired 21 years ago at 45. Funded almost entirely on slow house flipping. Buy a fixer, live there for more than 2 years (I average about 7) then fix it up and sell. The first $250k is tax free. Because I never have reportable income I got Medicaid (best insurance I've ever had), free smartphone and now free home internet. Sweet deal. I've lived on about $600/mo. I'd get $2800/mo SS if I took it today but have no need.
I retired with also no savings. But I was a software engineer and felt that was my security. I could always jump back into earning if needed. Many types of jobs retirement is a one way event. No chance to go back and earn the same.
My grandmother on my fathers side is retired and travels and sometimes I travel with her and I enjoy it very much and I'm worried I'll never get to travel after she's gone
Another fascinating documentary from Mr Hoffman.
Thanks David. This is a fun flashback to 30 years ago. Some things remain true and some are not.
YOU ARE PREACHING TO THE CHOIR....I KNOW AND CAN RELATE. SENDING YOU ALL GREAT VIBES AND BLESSINGS. YOU WORKED AND WORK AN ENTIRE LIFETIME...JUST LIKE ME....WHO WOULD HAVE THUNK IT? AND: YOU MAKE SUCH A DIFFERENCE...PLEASE KEEP POSTING AND TEACHING
If anyone thinks Senior Retirement is a "lump of leisure", think again.
No, I could not afford to retire and stay in the U.S. At 58 I was divorced, so I had to split my retirement with my ex-wife. I was born in 1945 just at the end of the Silent Generation. In 2003, I had worked for the Federal Reserve Bank for 30 years. Because of a toxic work place, I had to retire to keep my sanity. My only option was to retire to the Philippines on $348 a month. It is very possible to do this. It was dicey until I was 62 and got Social Security, after that I started living very well and still do. Had I stayed in the States, I would have been homeless and on the streets. But you cannot depend on checks coming in the mail. I have many retirement checks I have not received. I believe they were stolen and cashed with fake IDs. The Fed will do nothing to help me in this regard because they show no checks unpaid. The logistics of where I live make it nearly impossible to even send a letter to the Fed. It takes two months for me to receive a letter from the States, the Fed will not entertain phone calls from retirees. They do have a company go between that takes care of retiree needs but again due to logistics, security issues, Etc, If you get locked out of your account online, it is very difficult to get any help. Even though the Fed calls itself the Federal Reserve Bank, it is not federal at all, but a commercial bank (private enterprise). Therefore, they do not direct deposit to any foreign country, unlike the federal government. All I'm saying is, you do not have to stay in the U.S. if you need to retire and cannot afford to stay in the States. Just make sure you are 62 so that you can get Social Security direct deposited to a foreign bank. A check in the mail may not work and will most likely get stolen, forged, and cashed without you or your bank knowing about it.
As a 62 YO and having put enough back to last 30 years not including SS my quantry is staying occupied for that time. I am realizing my ability to do tomorrow what I did yesterday is not happening. My work has always been physical but the reality is I cannot do it. It requires a change in my mindset to a new reality.
I am working on that right now. To my FRD of 4 years 5 months I have to completly change my mindset. Thirty years will be a long time.
What's a quantry?
I doubt many people from my generation age will even get to retire. Wish I was born in the last century.
We are here for a reason and we should be ready to fight for our freedom we have access to so much information yet so in the dark
Not if you rely on the guv'mint to prop you up, no. There are plenty of opportunities available for younger people to start and maintain retirement funds, though, including Roth IRAs and 401ks. My best advice is to start automatically withdrawing what income you can spare from a very young age and never touch it or look at it. (If you say you can't spare a dime, I call bullshit and recommend re-evaluating your spending habits. The average American spends 18 grand per year on shit they don't need. We could all benefit from taking a long, hard look at wants vs. needs but that's a whole other situation.)
@@joshjames582 Hahaha boomers didnt have to worry about any of that.
@@feld5146 Hahahaha why are we laughing and what do boomers have to do with anything?
@@feld5146 ha ha as a boomer i already did it.
We work >45 years to finance about 18 years of retirement.
not me. What you are saying sounds pretty good. I would have done it.
David Hoffman-filmmaker-independent is the key word. Never worked for a company
@@DavidHoffmanFilmmaker I put three children through college. I do have a paid for nice home that is my saving grace. Renting a room to a friend for extra income. Not hard - making 3K+ in social security. I can only travel so much each year. This is enough but prices are rising - inflation has come as Biden spends money that is literally being printed out of nothing.
We are on fix income
Every thing keeps going up
My husband is bedridden I take care of him .worked in a factory it went bankrupt.it was running for 53 years do not feel sorry .still have Hope's and dreams
Old age is not for the weak.you young folks enjoy your youth
Stay out of debt. Save money learn skills.buy land water is important
Buy used stuff.i live when you could enjoy life.things were cheaper need to lower the cost of living across the board.let us live.
Best video yet
One needs $2 million to retire and have a decent life. A nursing home is $6,000+ a month in my city. Inflation is out of control.
Yes & that figure goes up faster than inflation.
Don't go into a nursing except to die. People usually last about a year in those things.
@@glorgau They are good if they cater to prominate families and you can afford $8,000 a month. I would still hire an individual to stay with me.
@@ratherbfishing455 That's ideal but health care will pay $6000+ to a nursing home before they'd pay a qualified individual a dime which doesn't make sense but bureaucracy seldom does. If one is paying out of pocket, live in care is ideal or an assisted living facility.
@@seanb6478After thinking about it, I'd rather stay at home, as there are a lot of low functioning people working at assisted living facilities. Work ethic does not exist anymore. If you are an illegal, you are taken care of. I witnessed two social workers taking to a women for over two hours trying to find an apartment. The cheapest was $1100 a month!
They arent kidding here, wow, if you think you can retire and live on Social Security benefits alone. Youre very mistaken. You have to have savings, and other retiement options. No way can you live and have a decent ordinary simple life , or expect to live on what you had been making, at your regular job, my sugesstion for anyone would be save ,save save, and start at a young age ! Because believe me, youll need every penny and more, just to live a halfway normal life. To pay your house pmt. Light bill, and still be able to buy groceries. They are going up everyday, that alone will eat up any savings you have. Boy, if I would have only known this forty years ago. I would have saved every penny I could get my fingers on. And pray you dont end up sick, & too ill to work or in a Nursing home. Its scary. My husband is still working, and no end in sight. If youve got thousands and thousands of dollars, it all can be gone, in three or 4 years of being in a nursing home. I know, my Great Uncles went through that. Took all of their savings, and they had alot of money saved. At the time of their death, they were almost penniless. Thank God they had life insurance. And that was back in the 90s Prices have tripled since then. Social Security helps a little, but not near enough , so.What is the solution ? Or is there any. I feel sorry for people with no savings, how do they live, on what they make from Social Security. I was a stay at home Mom, sooo that didnt help our situation. But I believed that being a stay at home Mom, was the best thing I could do for my children.
My parents became ill, my father with Parkinson’s with dementia, then my mother with dementia. We moved them in with us. They had $250, 000 in savings, and decent pensions. They spent $40 k of that to build on to our house. By the time they were gone, there was $12,000 left. They had no life insurance.
Before they died, they each reached a point where they had to go into long term care. It was devastating to watch them slowly be stripped of their minds. You grieve everyday. For a decade. It’s horrendous.
My conclusion is you either have to be a millionaire, or have hardly no income. In long term care, it was set up so patients had approximately $150.00 / month for haircuts, etc. Patients who had only one small pension received the same care as those who had money saved, and good pensions.
I believe it has improved slightly re finances, but our healthcare is now 30% privatized. The one percent robber barons are swooping in to no one’s advantage.
The thing is, if you are destitute, you will receive equal care, so you may as well enjoy anything you have tucked away while you can enjoy it.
Just my opinion.😊
I don’t know about the US, but in Canada, if you leave the workforce to raise children, you can apply to CCP to have that time off counted, so it’s the same as if you worked.
You are quite mistaken. People on SS live in poverty because of a lifetime of bad habits. My mom lived quite comfortably after my dad's pension ran out when she was 80 (he died one year into his retirement, and took a 15 year guaranteed). She had no debt and as I recall her monthly survivor benefit was around $1300. a month. She died at 94. Most people doom themselves to a poorer old age by taking SS at the earliest point possible, at 62. My wife and I will wait until 70 to collect and will have over 50K annually. Because of good habits that will be plenty, we are living on less now!
@@Caperhere Thank you for saying this - it is so true. And if you think a PHONE CALL regarding a family member or friend is enough to keep them well taken care of, you are sadly mistaken. The employees try, but your friend will NOT be taken care of the way you want. You must BE THERE almost daily to watch what is being done or more so, what is not being done. I would hear people complain that their phone call wasn’t being answered & just be in awe at the ridiculousness. Lazy & not really caring, a phone call will do nothing for your nursing home or rehab patient. It is pathetic. You must be there to help your loved one.
With rent increases that are insane, and inflation, all bets are off.
66 and still working. I just wouldn't know what else to do. My work is entertaining and rewarding. I enjoy working to a certain extent. I've eased up a little but still at it full time.
When I was young I traveled all over the world and did a lot of interesting things so I don't have a desire to do anything that I can't do in a long weekend. After 4 days I feel the need to get back to work.
Great informative video
I ALSO WANT AND SHOULD BE ABLE TO RETIRE AS WELL>>BUT CANNOT
y can't people see that. cars are a wealth killer. divorce is the other wealth killer
...BUT ME AND ANOTHER KID WAS ONLY KIDS ON THE BLOCK WITH AUTOMOBILES STILL IN HIGH SCHOOL ...!!!
Im 53 and can retire from law enforcement with an excellent pension. But I know I will be bored so I keep working to have a sense of purpose (
I still love my job). I may reassess at 60.
I'm 66 and been self-indulgent my entire adult life. Seemed like more fun. If it wasn't fun most of the time I moved on. The weird thing is the more fun I had the more money I was paid and the easier the job was. It's a crazy world. Retired 21 years ago. Now planning a move to SE Asia, find a attractive young wife, maybe have some kids. I was having too much fun to even think about having kids up until now. I have the assets to take care of a wife and kids thru college. Plus I have the time to spend with my kids. I didn't see my Dad much growing up because he was always working.
Guess, I do not agree with the statement that "retirement will be a thing of the past for future generations". In my generation they said, when, I was 30 years old that social security would be gone by the time, I reached 65 years of age which, is five years from now. So, I planned my retirement by assuming it would no longer be around. Today, the same is true no more pensions plans ...then fund your retirement without them invest in the stock market, invest in real estate, buy life insurance company annuities, etc. Always remember, when possible to save and invest between 15 percent to 25 percent of your take home pay each month and, you should be fine. (smile...smile).
I'm grateful that my father, who was born in 1945, is enjoying his retirement after working very hard his whole adult life. He worked hard and saved diligently. I'm a bit sad that won't extend to future generations. You can't get ahead now, and employees are treated as disposable assets.
The change is from others investing for your future (i.e. your employer and social sercurity) to now where, you may have to do it all for yourself. Just make sure that, you have money in several different pots (i.e. 401(k) plan, stock market, real estate, anunity, and personal savings). This way if, one or two pots go down in value you will still be good.
As objects became more disposable, so did people whether we're talking about employees or relationships.
@@emeraldvenus Yes or have an opt out option for more profitable endeavors.
@@emeraldvenus Agreed, never said its easy.
It’s easier to get ahead now than ever thanks to the internet, mobile devices, and apps. Jobs are easier to find than ever and the pay is the highest it’s ever been. What’s missing is the work ethic. Instead, people have a sense of entitlement. They want something for nothing and don’t want to do the work and make the sacrifices that previous generations made.
7:27 "What few jobs there were went to the young." Somethings never change.
What is interesting to me is that my parents born in the mid 1930's did not save anything and lived only on SSN benefits. They never talked about saving and they lived ok by living in section 8 older person living. My Dad even had a side job of collecting cans for recycling and the money he got from that allowed him to do one big travel trip a year.
But for me born in 1965 and my husband born the same year, we saved in the form of a a 401k from the very start of our work life after college in 1989 in addition to standard investments and company ISP plans and now are ready to retire with a significant nest egg at 57.
Our daughter and her husband born in the late 80's, early 90's are very concerned about their finances, save money in 401k's, don't want any debt, own their house (the only debt they have) and drive used cars because they want to enjoy life, not be a slave to a job they don't like. They have a very different way of thinking from their Grandparents.
Statistically 30 to 40 % of people never make it to age 65. It is a case of damned if you do and damned if you don't....retire
True, you have to pan for both. In my case, owned a 30-year 500,000 Term Life policy from age 25 to age 55 to replace my income. Plus, I paid monthly into my company pension plan, paid 15 percent of my income into my 457 plan (invested in the stock market), and saved as much as possible. So, at retirement in a few years, I will receive my pension, my social sercurity, my 457 funds, and my personal savings.
Today, young people delude themselves on social media. It is an addiction that is destroying time, energy, brains and work ethic.
I know what I want to do when I retire practice law and continue to make a contribution to my neighborhood. I can make a bigger contribution because I am retired. I'm concerned about retirement savings but NOT worried. If you have an education and your health, mobility you will always be able to earn, create a livelihood. And social media makes it possible and very profitable.
2:47 "very few people lived long enough to retire... the average lifespan was 47 years"... This is actually a misnomer. Lots of people lived to be well over 60 or even 70 or older. But there was no medical technology. If someone got a disease or heart disease, etc. they would just die. There was no treatment like nowadays. So there were a lot of people dying young because of this. And this greatly skewed the "average" lifespan.
A good example is Thomas Jefferson and John Adams. They both lived to be 89 years old, way back in the early 1800s, a time when the "average" lifespan was probably like around 38 years old.
infant/young child mortality is what added a lot to lifespan. and then if we don’t have large wars with boots on the ground, that helps too.
I worked with a nurse who'd worked in the same hospital for 20 years. She started thinking about retirement, so checked her pension from the hospital. It was $18,000, in the '90's. No where near enough to retire on... You can't get those 20 years back. Should she have checked earlier? Oh, yes! Consider when she started her career. People weren't thinking of having to fund their own retirements in the 1970's. Women, especially were not thinking of that. By the '90's, people were thinking about it. She made some changes: changed hospitals and began making catch up contributions as soon as she was able to her new 401K.
If I were having children now, I'd put away money for their educations, first cars, and their retirements....so that they could retire to a decent income. I'd start that either at the time of their birth...or before...at the time of confirmed pregnancy.
Some of those big cities are to expensive to retire in
Living underneath Oppressive Dept coupled with Stratospheric Inflation keeps us all Chained to the Grindstone
"A $1,000,000,000 Dollars is Worth More Today than it is Tomorrow ... and there after "
- Harry Dent
I have no intention of retiring.
Here waiting for the interview of the pc genius
It's sad when a lifetime of spending every dime and then some and failing to take the self-interest to plan for retirement hits like a brick wall. Even now, they won't retire because they don't have the stones to cut their lifestyle to live within their social security. Sad but true.
Interesting time warp.
I always liked Gerald Ford.
I retired as a DINK: double income, no kids.
Brilliant.
What is a dink,?
@@capassoluigi7387
D double
I income
N - no
K kids
Like.. Two jobs?
We did too. We both retired at 55. Kids? Are you crazy? I never went to college. It's all about choices. Nothing is free in life. Now at 62 I receive from SS alone is $2343.00 per month. My wife a little less. We do just fine. Life is good. I worked a ton of overtime my whole life. It made a huge difference in my SS check at 62. Lots of people don't even get half that amount at 62. Are home is paid for. Kids? No way.
It's okay, everyone. If the WEF and Klaus Schwab get their way we'll all soon "own nothing and be happy". 😂
Did you make this video
Yes I did.
David Hoffman-filmmaker
@@DavidHoffmanFilmmaker wow, you must be very old by now. The video, I'm guessing was made in the 70s? It's a really good video though.
Looks like an 80s jobbie to me judging by the clothes, hairstyles etc. DEFINATELY not 70s
@@thetreekeeper143 pay attention kid - it was made in the '90s.
in 2023 retirement means learning Spanish and taking USD to South America. There is hope for a few to retire in the USA. But they all work in Congress.
There's all sorts of living options when you retire. If all you have is your social security, there's always senior public housing, which is based on income. Some facilities are better than others. Preferably you want a 55 and older or 62 and older only facility. One caution, when you're with strictly senior citizens, there's lots of misery in these type housing choices as many people are experiencing ill health. The ambulance arriving is a daily occurrence, sometimes 2 and 3 times a day. The most common reason is elderly people fall down alot and need help getting up.
Well, I've been retired for 14 years now and after I adjusted, I love it. And at 74, I'm ready to kick the can. Why? Because nobody gets out of here alive. It's the way life is. I still love to ride my motorcycle and go hiking. I love to go sit in the Florida sun. But hey, people hate old people. I hate old people. Nobody wants you around. I see these old miserable fuckers out at the pool. I call them "brown-clouders" because their diapers leak. I won't go in that cesspool. I just like to go and sit later in the afternoon and write a letter to my GF who is 30 years younger. She just about gives me a heart attack every time we hop in the sack. What a way to go! And she is beautiful. Not some old hag with a bunch of baggage. When I find myself getting miserable I take a "happy" pill. Whatever works at 74 is ok with me.
Your comments made me smile. It sounds like you're doing it just fine for you but my experience with old people, at least the ones that I am around, is that they have plenty of energy and smarts and sexuality. I know that's not everyone but there plenty of us old-timers who still have the verve.
David Hoffman filmmaker
He’s pulling your chain, David
@@DavidHoffmanFilmmaker I'm glad you can see some of my goofy humor Dave. I do love retirement. I worked very hard during my work years to get to where I am. I am very fortunate to have a little condominium here in South Florida. The parks around me are beautiful and the cedar trails are easy to walk on. Great video. And I'm not giving up. No way. Marines never give up.
Im glad retirement's working well for you but I hope your child GF doesn't bounce out when she thinks a better prospect comes around & you're left single.
@@seanb6478 She knows that there are three things I won't tolerate. Drugs, Drama and Alcohol. If she choses those over me, then she will be down the road. Plenty more where she came from.
There is no such thing as retirement.You can retire but you still have to earned for a living
if you have enough money you don't need to fret.
Perhaps, it might be better to say "that even in retirement, you will still need to receive yearly income (i.e. from a pension, 403(b) plan, 401(K) plan, anunity, social security, or stock investments, etc.)"
...AND IF YOU FOOLISH ENOUGH TO MARRY AFTER 65 THEY CUT YOUR CHECKS and you still have to BAG Groceries to make ENDS MEET Damn,,,Damn ,,,Damn,,,!!!
The black man speaking at the beginning of this video was right. We don't want to sit around and vegetate.
no one said you had to.
The only way to retire is to leave the US
That's clearly untrue.
This is why they invented Fiat currency. This way everyone doesn't have to sit around and do nothing for society. Greatest invention.
People can't retire because of our crazy, inefficient healthcare system.
Guys if i cant retire i just might off myself.
Lady said at turn of century life expectancy for Men was 47😂 So wrong and misleading, she includes child/Infant mortality rate which is dumb as if you made to 18 you lived a normal life
I dont do shit no job nothing . #lifehack #retirement2019
congrats
26:10 The trend towards political degradation will provide for UBI ... sooner than you mght think.
(A vote bought is a vote cast.)
First!
...YEAHHH FIRST AND FOREMOST ...HATED THAT SHIT SPEECH EVER TIME MY BOSS USE THOSE WORDS WE WERE LATE GETTING OUR PAY RAISES $$$ ...then Damn Company FILED Chapter 11...P.S. Then was TOLD you WOULD have to WORK 20 years @ This Company to OBTAIN $-2500 Per/Month Pension.. LIGHTNING STRIKES TWICE ..and they say you can''t be TRYIED TWICE FOR SAME CRIME W.T.F. !!!
haha
Shit. Sorry you didnt save for the future, dude.
Shit... I forgot to, too.
Me too Mike. When I was young, I just didn't get it.
David Hoffman-filmmaker
Life moves too fast for savings. Lol
Wow, that sounded really snarky and rude.
Savings are just one option. Set up multiple residual income sources. Create a passive income pipeline instead of just a diminishing savings stockpile.
Pin this comment