Hi joe. Thanks for the great videos. My dad passed away just before thanksgiving from pneumonia. He was 69 years old and in great health. He only got to enjoy 5 years of retirement. I wish he would have retired a lot earlier. He loved retirement and was the happiest I had ever seen him. My advice is retire as soon as it makes sense financially. You never know how much time you have left. Enjoy every minute of it.
Very sorry for your loss. I lost both my father and father-in-law in the last year. Fortunately they both enjoyed epic retirements as your Dad did for the years he had which were a blessing to him. But yes these losses are eye-opening and can be a catalyst for life changes like retiring early, seizing every day, and not sweating the small stuff.
Keep the content coming. "Retired" 3 months ago. I have it in quotes as I was forced out, severed, after 26+ years. I was ready financially, had the wife ready, and then suddenly done with 5 hours notice. I'm just now learning how to slow down and not go at 100 mph trying to get everything done in one day, or cram everything into a weekend. Being mentally ready is rougher than the money. Thank God for grandkids....they keep me grounded and I always have something to do for them if nothing else!
"I was ready financially." Trust me, they did you and your family a huge favor. You'll realize it soon enough. Their loss, your tremendous life gain. Go well, congrats.
I retired 6 wks ago and I am loving it. I tried living the frugal lifestyle and it's stressful. I did the math, and I can continue to live like before. Everything has been paid off, have savings and getting 2 pensions. I told myself I am entitled to enjoy the fruits of my labour.
A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@@AlexandersRodrigueza That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the names of the advisors who has been assisting you in navigating these financial challenges?
Great video, Joe! One point I believe is important is that when you talk about not being tired in retirement we should note that you invest much of your available time in eating well and exercising. For those who neglect health and are sedentary in retirement, not being tired is likely not going to be the case in retirement.
1. 100% agree 2. I believe most people overestimate how much they need. After 2 years end to retirement i really could have retired 5 years earlier with small adjustments. 3. Possible, but I'm with you on this as it will be hard and better not have any major expenses come up. 4. You would need to be a special person to be able to turn off work mode off in year one. 5. Funny, this phase of life is very hard to adjust into. 6. You need to be physically active way before retirement so you can carry over into retirement, as you age the activities will change to less stressful activities. You will be surprised how many senior activities are going on at the gyms and this can be a support group moving forward. So don't think negative about joying a gym. 7. Never entered my mind. 8. Agree, and everyone is different, debt will play a huge decision on his one. Also, what may play a role in this is remembering that your retirement account may have a partner, the government (taxes). 9. Funny, a retirement plan changes yearly. 10. Who knowns, plans may change. Joe, I have a subject you may want to look into that I've seen on retirement. What documents you need to store and what protect you should take to protect them (safe, etc.). Maybe you can run a poll to see if this is part of something that is even done and to what degree. You may have the paperwork, but does your executor have access when the time comes.
I'm 66 and am still happily working. I have a consulting business I plan to work at past 70. I just bought a diner (for a retirement "job"). My vision of retirement is not sitting on a beach or traveling. I want to be around people and active. I have no intentions on "slowing down." I've had periods of being unemployed for 6 months - 1 year. I didn't like it. It depends on your situation. I never married and have limited family. To me happiness is having a purpose, having control over my schedule, being around people, I love having projects. I could "retire" now, I just don't want to.
Hey Joe, some are commenting about your audio/video quality. Just another opinion: for me it's about the *content* and I love that most of your videos are 1 take, or only an edit or two and are *real*.
Hi Joe, I like your videos because they should help people not to be afraid to retire if they are already thinking about it. As you said, there is no ‘one size fits all’ but the most important fact to keep in mind is that your healthspan does not necessarily matches your lifespan, so retire while you can still enjoy life if you have saved during your working years. How much? Depends on your expenses. I retired earlier this year at 58 and have been enjoying having time for myself, exercising like you, 2 hours per day and doing a lot of projects at home, reading and doing some travel as well. Greetings from Toronto!
A friend of mine retired, enjoyed free time for 6 months, then started working part time for Amazon after a career of being an accountant She loves it!
Great video! My wife and I retired at a more traditional age than you but I still found myself retiring before any of my friends. My wife has two friends that retired about the same time. In my mind we would be busy enjoying adventures with our friends. The other thing is I turned 69 and suddenly I'm beginning to understand the gogo years DO have an expiration date! I still feel good but some tasks require more effort than even a year or two ago.
Well now you know someone who comfortably lives on Soc. Security alone, as I do that and could save from it too. No I'm not even close to S. S. max payout. However, I did set myself up with a modest living (modest house, no paid TV, Iphone, fancy electronics, etc) so my base expenses, including repairs of vehicle, house, replace appliances, etc., and some fun, were covered. No, the big stuff, single roof, new vehicle, etc., not included, though if I saved not spent the extra, in a few years I could cover those too. BUT I do have other money for those bigger ticket items. Simply I've money to spend on what i want and need but I don't spend wastefully just because I've got it to spend and just to do it. Spend to enjoy life.
Great video - many good points Joe, I figured you a Hoosier and IU fan but then i noticed your Notre Dame shirt you are wearing. Big game coming up battle of Indiana ! Go Irish ☘️!
As a farmer, I always assumed I would work until I dropped dead in the field, and I still can't think of any more awesome way to go. Then I became disabled at 40. I've improved enough since then that I can study now, which is a lot more satisfying than it was as a young adult, and when I'm not studying I can knit while watching youtube videos and other content. I'm basically retired. And my grandmother made her century before she passed, so I may well be retired for several decades. Don't assume retirement will happen when you schedule it. If you have to retire at 40, what is that going to do to the rest of your life?
That was a great list. I agree with you on most of what you said. I would think that it would be a mistake to retire with the idea of going back to work if the money runs out and I do like the idea of possibly going back to work as a decision based on enjoyment or fulfillment. I am 61 and still working for now, but I have been getting a lot out of listening to your videos (and a couple of other people's) to help give me the confidence to take that step. I have been referring to it as " the next act" like in a play rather than another chapter or book.
Leisure doesn't necessarily mean lounging in front of the TV. This is the problem with these kinds of lists. Everyone defines these things differently.
Thank you for the video Joe. I agree with you on most points. I am 62 now and should be retired. No debt. House is paid off. Good pension. Will drawn my husbands SS until I turn 70 and then if mine is higher I'll draw mine. Use Boldin. Have an Accountant and a financial advisor. They all tell me RETIRE. I love my job. I think the only thing keeping me working is Change. Once I retire, I can't unretire to the same job. I know in past videos you have said "Retire to something." I will retire to be a farmer/gardner and an interior designer/landscaper. So many things to do. I do appreciate your perspective. Thank you!
I appreciate your videos and the insight of your perspective. Something "clicked" for me recently: if you have cashflow from investments coming in, you should only spend a percentage of that in order for your income to grow faster than inflation. What percentage? Depends on the rate of return. Example: Say you can invest and get an 8% yield. If you have 100000 in dividends coming in, spend 60000, reinvest 40000. That reinvestment of 40000 x 0.08 = 3,200 Same rule applies to the proceeds from the reinvestment: spend 60%, reinvest 40% With reinvestment, next year you can spend 61920 -- outpacing even 3% inflation which would have been 61800
1. Retirement is a "one size fits all" concept - wrong, everyone is different. 2. You need a set amount of money to retire - wrong, start with YOUR expenses. 3. Social Security will be enough to live on, you don't need to save any more money - wrong, you need to save more. 4. You can just turn-off "work mode" - wrong, it is hard to turn-off that engine, might take 6 months to down-shift. 5. Retirement is all about leisure - wrong, lounging in front of the TV will get old fast. 6. Health won't be a major concern - wrong, eat right, exercise. 7. You can always work part-time later - wrong, "maybe" you can get another job, economic times might be tough. 8. Retirement age is fixed - wrong, retirement is not just a new chapter, but an entire new book. 9. You can predict exactly the amount of money you need for retirement - wrong, but you need a financial plan. 10. Retirement is forever - wrong, if you choose to go back to work / un-retire, that is not failure, you can have a less stressful job, work for non-profit, don't let society pressure you what to do or not do.
48 years old. Wife is the same age. We will retire sometime after 58 but before 65. We will have enough money but it’s “filling the time” I’m most worried about.
Thank you for sharing your experience with us, Joe! Your ten points are great! I sometimes fall victim to the "shouldas" in life. e.g. I shoulda invested in bitcoin when it was 20,000, I shoulda invested in NVDA when Cramer named his dog Nvidia. Albeit, I am getting better of turning off the thoughts when they enter my head because I know there is nothing I can do about it now.
Living off our S.S. by the numbers would seem easy. When we had 3 kids, mortgage, car payment and 2 incomes our take home was not much more than our S.S. is now with no debt but with the ability to spend a lot if needed or wanted.
Thanks Joe. Hope you had a great Thanksgiving. Question that I thought of, not truly related to this video but thought would ask. With you getting a decent monthly stipend from your TH-cam videos, have you set yourself up with like a LLC or anything to show as business and then deduct the costs of business from that?
Yes. I set up an LLC when I retired to do reliability and maintenance consulting. I pivoted into Retirement videos but retain the same LLC. I meet with an Accountant each year to maximize deductions and business structure.
Hello Joe, I purchased the Boldin software. My wife and I were planning to retire in 5.5 years. Now, I am trying to see if we can retire 3.5 years at 58 years old. I still need to seek advice from 3 independent CFPs. Great video.
One thing that concerns me the most is future income taxes. Since our Washington DC constituents like printing 💰, I don't see software taking in that consideration. Ex: If I draw $100k in retirement per year today, maybe I pay $25k in taxes. What if in 10 years while I am in retirement, the US government decides to raise income taxes on a $100k annual to $35k. That is my concern even though my spending may go down and I may see a larger increase in Healthcare costs. I believe this is gap that most software should start covering.
One I see a lot is… “Male life expectancy in the US is only 75, so that’s all I’m planning for.” I can’t imagine many things worse than being broke at 76 in the US.
@@joekuhnlovesretirement None of us knows how long we'll live, but I think planning for a longer term is most prudent. I'm 16 years retired at age 75 (and loving it.) Beginning 5 years before retirement, all financial planning has been with the goal of making the income producing asset base last as long as possible. Importantly, the time horizon is predicated on the fact that my wife is 8 years younger than I am. She's going to need it for years after I'm gone. (If there's an age difference, that's a factor couples need to take into account.) My overall point is that people's retirement planning should strategize for a lengthy time horizon, adjusting their investment tactics and spending habits accordingly.
@joekuhnlovesretirement It is really distracting that your video is washed out. I don't know if you got a new camera, or something. You may wish to correct it as it does a disservice to your content. Best.
It was the idea of mini-retirement that transformed my life. I'm over the idea of waiting till I'm 65 to go to some retirement paradise. Knowing how to finance the lifestyle is helpful. It is helpful to earn money while enjoying a piña colada on the shore, you know. If I hadn't, I couldn't have succeeded.
Yes, that is the part that many overlook. You don't spend all of your life savings travelling to Puerto Rico. A strong business sense and wise investment are major advantages. Invest in real estate, stocks, and start-up companies. That's it.
It's safe to assume that not everyone is skilled enough to pursue investment. But when someone like a financial advisor gives you guidance, it's always easy to follow. With my advisor's assistance, my portfolio has increased by more than 330% since the start of the previous year, totalling close to $1 million.
I think many people that are well off financially and continue to work or go back to work are not very creative and/or fear change. I get that some people like their job but I still think they should move on. There isn't much more time for them to explore life outside their careers. They wrap the decision to stay around a false sense of their value in the work place, a work ethic that is no longer necessary, and an ego that needs approval. When often - they simply fear change and are unable to change.
I’m not sure it’s appropriate to make such broad generalizations about others who are choosing a different path than you for a whole host of reasons that may not resonate with your values. I’m sure that some people may fear change, but many of the people that I know who continue to work into their late 70s, fully embrace the change that they see in their work life. Different strokes for different folks.
@@michaelalberts4699 I agree - that is why I said many people do this and it happens often. What would be a more appropriate way of saying it? Of course there are many reasonable exceptions - but I did not imply there wasn't.
I am 54. I am going to shoot for retiring a little earlier and abide by note 10. If I have to go back to work for a bit to restock some accounts I will. I do not believe I would have a difficult time finding some sort of employment.
Churchill said, “Plans are of little importance, but planning is essential,” while Eisenhower said, “Plans are worthless, but planning is everything.” Or “Plans are useless. Planning is indispensable.” Eisenhower further said “…the very definition of 'emergency' is that it is unexpected, therefore it is not going to happen the way you are planning.” - multiple sources attributed So, keep planning. :)
Hi joe. Thanks for the great videos. My dad passed away just before thanksgiving from pneumonia. He was 69 years old and in great health. He only got to enjoy 5 years of retirement. I wish he would have retired a lot earlier. He loved retirement and was the happiest I had ever seen him. My advice is retire as soon as it makes sense financially. You never know how much time you have left. Enjoy every minute of it.
Very sorry for your loss. I lost both my father and father-in-law in the last year. Fortunately they both enjoyed epic retirements as your Dad did for the years he had which were a blessing to him. But yes these losses are eye-opening and can be a catalyst for life changes like retiring early, seizing every day, and not sweating the small stuff.
@@martybabitz9590thank you, I’m sorry for your loss also. It definitely opened up my eyes and I’m looking at things a lot differently.
Keep the content coming. "Retired" 3 months ago. I have it in quotes as I was forced out, severed, after 26+ years. I was ready financially, had the wife ready, and then suddenly done with 5 hours notice. I'm just now learning how to slow down and not go at 100 mph trying to get everything done in one day, or cram everything into a weekend. Being mentally ready is rougher than the money. Thank God for grandkids....they keep me grounded and I always have something to do for them if nothing else!
That sucks! But CONGRATS!!!
"I was ready financially."
Trust me, they did you and your family a huge favor. You'll realize it soon enough. Their loss, your tremendous life gain. Go well, congrats.
@@EJJ-EvArmsword!
Thank you.
Totally agree about the TV being a reason people think retirement would be boring.
Never worried about “Filling my time” Retired 2 years and can ALWAYS FIND SOMETHING TO DO!
I retired 6 wks ago and I am loving it. I tried living the frugal lifestyle and it's stressful. I did the math, and I can continue to live like before. Everything has been paid off, have savings and getting 2 pensions. I told myself I am entitled to enjoy the fruits of my labour.
How much interest can I make on 500k? thinking of going into stock !
4.5%. Depends on risk and duration
A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@@AlexandersRodrigueza
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the names of the advisors who has been assisting you in navigating these financial challenges?
@@AlexandersRodrigueza Great , i will do that now . Thanks for sharing
*CATHERINE DIANE PELICAN*
Great video, Joe! One point I believe is important is that when you talk about not being tired in retirement we should note that you invest much of your available time in eating well and exercising. For those who neglect health and are sedentary in retirement, not being tired is likely not going to be the case in retirement.
1. 100% agree
2. I believe most people overestimate how much they need. After 2 years end to retirement i really could have retired 5 years earlier with small adjustments.
3. Possible, but I'm with you on this as it will be hard and better not have any major expenses come up.
4. You would need to be a special person to be able to turn off work mode off in year one.
5. Funny, this phase of life is very hard to adjust into.
6. You need to be physically active way before retirement so you can carry over into retirement, as you age the activities will change to less stressful activities. You will be surprised how many senior activities are going on at the gyms and this can be a support group moving forward. So don't think negative about joying a gym.
7. Never entered my mind.
8. Agree, and everyone is different, debt will play a huge decision on his one. Also, what may play a role in this is remembering that your retirement account may have a partner, the government (taxes).
9. Funny, a retirement plan changes yearly.
10. Who knowns, plans may change.
Joe, I have a subject you may want to look into that I've seen on retirement. What documents you need to store and what protect you should take to protect them (safe, etc.). Maybe you can run a poll to see if this is part of something that is even done and to what degree. You may have the paperwork, but does your executor have access when the time comes.
Good topic
I'm 66 and am still happily working. I have a consulting business I plan to work at past 70. I just bought a diner (for a retirement "job"). My vision of retirement is not sitting on a beach or traveling. I want to be around people and active. I have no intentions on "slowing down." I've had periods of being unemployed for 6 months - 1 year. I didn't like it. It depends on your situation. I never married and have limited family. To me happiness is having a purpose, having control over my schedule, being around people, I love having projects. I could "retire" now, I just don't want to.
Hey Joe, some are commenting about your audio/video quality. Just another opinion: for me it's about the *content* and I love that most of your videos are 1 take, or only an edit or two and are *real*.
😁
Hi Joe, I like your videos because they should help people not to be afraid to retire if they are already thinking about it. As you said, there is no ‘one size fits all’ but the most important fact to keep in mind is that your healthspan does not necessarily matches your lifespan, so retire while you can still enjoy life if you have saved during your working years. How much? Depends on your expenses. I retired earlier this year at 58 and have been enjoying having time for myself, exercising like you, 2 hours per day and doing a lot of projects at home, reading and doing some travel as well. Greetings from Toronto!
A friend of mine retired, enjoyed free time for 6 months, then started working part time for Amazon after a career of being an accountant She loves it!
Great video! My wife and I retired at a more traditional age than you but I still found myself retiring before any of my friends. My wife has two friends that retired about the same time. In my mind we would be busy enjoying adventures with our friends. The other thing is I turned 69 and suddenly I'm beginning to understand the gogo years DO have an expiration date! I still feel good but some tasks require more effort than even a year or two ago.
“ every day is Saturday “
This sums up retirement!
Well now you know someone who comfortably lives on Soc. Security alone, as I do that and could save from it too. No I'm not even close to S. S. max payout. However, I did set myself up with a modest living (modest house, no paid TV, Iphone, fancy electronics, etc) so my base expenses, including repairs of vehicle, house, replace appliances, etc., and some fun, were covered. No, the big stuff, single roof, new vehicle, etc., not included, though if I saved not spent the extra, in a few years I could cover those too. BUT I do have other money for those bigger ticket items. Simply I've money to spend on what i want and need but I don't spend wastefully just because I've got it to spend and just to do it. Spend to enjoy life.
Great video - many good points
Joe, I figured you a Hoosier and IU fan but then i noticed your Notre Dame shirt you are wearing. Big game coming up battle of Indiana ! Go Irish ☘️!
Thanks for sharing! I like your comment on starting a new book vs a new chapter. Nice to live vicariously through you until I retire next year at 59.
I have been watching your videos for a while now. This is the most comprehensive/general video that will help nearly everyone!
As a farmer, I always assumed I would work until I dropped dead in the field, and I still can't think of any more awesome way to go.
Then I became disabled at 40. I've improved enough since then that I can study now, which is a lot more satisfying than it was as a young adult, and when I'm not studying I can knit while watching youtube videos and other content.
I'm basically retired. And my grandmother made her century before she passed, so I may well be retired for several decades.
Don't assume retirement will happen when you schedule it. If you have to retire at 40, what is that going to do to the rest of your life?
That was a great list. I agree with you on most of what you said. I would think that it would be a mistake to retire with the idea of going back to work if the money runs out and I do like the idea of possibly going back to work as a decision based on enjoyment or fulfillment. I am 61 and still working for now, but I have been getting a lot out of listening to your videos (and a couple of other people's) to help give me the confidence to take that step. I have been referring to it as " the next act" like in a play rather than another chapter or book.
Leisure doesn't necessarily mean lounging in front of the TV. This is the problem with these kinds of lists. Everyone defines these things differently.
Thank you for the video Joe. I agree with you on most points. I am 62 now and should be retired. No debt. House is paid off. Good pension. Will drawn my husbands SS until I turn 70 and then if mine is higher I'll draw mine. Use Boldin. Have an Accountant and a financial advisor. They all tell me RETIRE. I love my job. I think the only thing keeping me working is Change. Once I retire, I can't unretire to the same job. I know in past videos you have said "Retire to something." I will retire to be a farmer/gardner and an interior designer/landscaper. So many things to do. I do appreciate your perspective. Thank you!
Another great video Joe! Your content is well thought out and it comes from the heart. I appreciate your insights as always!! Joe from Texas!
#7: spot-on, Joe. besides the economy, people assume their health will allow them to work part-time.
all 10 make sense.
I appreciate your videos and the insight of your perspective.
Something "clicked" for me recently:
if you have cashflow from investments coming in, you should only spend a percentage of that in order for your income to grow faster than inflation.
What percentage? Depends on the rate of return.
Example:
Say you can invest and get an 8% yield.
If you have 100000 in dividends coming in, spend 60000, reinvest 40000.
That reinvestment of 40000 x 0.08 = 3,200
Same rule applies to the proceeds from the reinvestment: spend 60%, reinvest 40%
With reinvestment, next year you can spend 61920 -- outpacing even 3% inflation which would have been 61800
1. Retirement is a "one size fits all" concept - wrong, everyone is different.
2. You need a set amount of money to retire - wrong, start with YOUR expenses.
3. Social Security will be enough to live on, you don't need to save any more money - wrong, you need to save more.
4. You can just turn-off "work mode" - wrong, it is hard to turn-off that engine, might take 6 months to down-shift.
5. Retirement is all about leisure - wrong, lounging in front of the TV will get old fast.
6. Health won't be a major concern - wrong, eat right, exercise.
7. You can always work part-time later - wrong, "maybe" you can get another job, economic times might be tough.
8. Retirement age is fixed - wrong, retirement is not just a new chapter, but an entire new book.
9. You can predict exactly the amount of money you need for retirement - wrong, but you need a financial plan.
10. Retirement is forever - wrong, if you choose to go back to work / un-retire, that is not failure, you can have a less stressful job, work for non-profit, don't let society pressure you what to do or not do.
Great video!
Great stuff Joe. I’ve noticed your audio is a bit tinny or in a well. Recommend a good microphone or something.
48 years old. Wife is the same age. We will retire sometime after 58 but before 65. We will have enough money but it’s “filling the time” I’m most worried about.
Thank you for sharing your experience with us, Joe! Your ten points are great! I sometimes fall victim to the "shouldas" in life. e.g. I shoulda invested in bitcoin when it was 20,000, I shoulda invested in NVDA when Cramer named his dog Nvidia. Albeit, I am getting better of turning off the thoughts when they enter my head because I know there is nothing I can do about it now.
Living off our S.S. by the numbers would seem easy. When we had 3 kids, mortgage, car payment and 2 incomes our take home was not much more than our S.S. is now with no debt but with the ability to spend a lot if needed or wanted.
Thanks Joe. Hope you had a great Thanksgiving.
Question that I thought of, not truly related to this video but thought would ask. With you getting a decent monthly stipend from your TH-cam videos, have you set yourself up with like a LLC or anything to show as business and then deduct the costs of business from that?
Yes. I set up an LLC when I retired to do reliability and maintenance consulting. I pivoted into Retirement videos but retain the same LLC. I meet with an Accountant each year to maximize deductions and business structure.
Hello Joe, I purchased the Boldin software. My wife and I were planning to retire in 5.5 years. Now, I am trying to see if we can retire 3.5 years at 58 years old. I still need to seek advice from 3 independent CFPs. Great video.
One thing that concerns me the most is future income taxes. Since our Washington DC constituents like printing 💰, I don't see software taking in that consideration. Ex: If I draw $100k in retirement per year today, maybe I pay $25k in taxes. What if in 10 years while I am in retirement, the US government decides to raise income taxes on a $100k annual to $35k. That is my concern even though my spending may go down and I may see a larger increase in Healthcare costs. I believe this is gap that most software should start covering.
One I see a lot is… “Male life expectancy in the US is only 75, so that’s all I’m planning for.” I can’t imagine many things worse than being broke at 76 in the US.
Not true. 75 is life expectancy from Birth. Once you are 60 it moves to 83 or so.
@ Right, I meant that it's another assumption people have which is wrong.
@@joekuhnlovesretirement None of us knows how long we'll live, but I think planning for a longer term is most prudent. I'm 16 years retired at age 75 (and loving it.) Beginning 5 years before retirement, all financial planning has been with the goal of making the income producing asset base last as long as possible. Importantly, the time horizon is predicated on the fact that my wife is 8 years younger than I am. She's going to need it for years after I'm gone. (If there's an age difference, that's a factor couples need to take into account.) My overall point is that people's retirement planning should strategize for a lengthy time horizon, adjusting their investment tactics and spending habits accordingly.
@joekuhnlovesretirement It is really distracting that your video is washed out. I don't know if you got a new camera, or something. You may wish to correct it as it does a disservice to your content. Best.
It was the idea of mini-retirement that transformed my life. I'm over the idea of waiting till I'm 65 to go to some retirement paradise. Knowing how to finance the lifestyle is helpful. It is helpful to earn money while enjoying a piña colada on the shore, you know. If I hadn't, I couldn't have succeeded.
Yes, that is the part that many overlook. You don't spend all of your life savings travelling to Puerto Rico. A strong business sense and wise investment are major advantages. Invest in real estate, stocks, and start-up companies. That's it.
It's safe to assume that not everyone is skilled enough to pursue investment. But when someone like a financial advisor gives you guidance, it's always easy to follow. With my advisor's assistance, my portfolio has increased by more than 330% since the start of the previous year, totalling close to $1 million.
❤❤❤
I think many people that are well off financially and continue to work or go back to work are not very creative and/or fear change. I get that some people like their job but I still think they should move on. There isn't much more time for them to explore life outside their careers. They wrap the decision to stay around a false sense of their value in the work place, a work ethic that is no longer necessary, and an ego that needs approval. When often - they simply fear change and are unable to change.
I’m not sure it’s appropriate to make such broad generalizations about others who are choosing a different path than you for a whole host of reasons that may not resonate with your values. I’m sure that some people may fear change, but many of the people that I know who continue to work into their late 70s, fully embrace the change that they see in their work life. Different strokes for different folks.
@@michaelalberts4699 I agree - that is why I said many people do this and it happens often. What would be a more appropriate way of saying it? Of course there are many reasonable exceptions - but I did not imply there wasn't.
@@michaelalberts4699 Of course there are exceptions - I agree. That is why I chose words like - "many people", "often", "some people".
I am 54. I am going to shoot for retiring a little earlier and abide by note 10. If I have to go back to work for a bit to restock some accounts I will. I do not believe I would have a difficult time finding some sort of employment.
At current unemployment rates finding a part time job is easy in most places
Churchill said, “Plans are of little importance, but planning is essential,” while Eisenhower said, “Plans are worthless, but planning is everything.” Or “Plans are useless. Planning is indispensable.” Eisenhower further said “…the very definition of 'emergency' is that it is unexpected, therefore it is not going to happen the way you are planning.”
- multiple sources attributed
So, keep planning. :)
planning builds the base, when the plan fails, the base is still in place, so it is a change of direction.