People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
My dad died at 52 and my mom at 58, which inspired me to retire early. I'll happily die after 5 years of retirement rather than be a wage slave until the day I die.
Ben Shapiro is 100% correct! Why would anyone want to retire, unless it's a health issue? When you retire, it means you've thrown the towel in, you just want the cush life, you no longer are productive or have anything to offer society any longer. In other words, you're a lazy joke.
For some people, "retirement" means you stop working for the highest income-to-COL margin you can get, and start working at something fulfilling regardless of how much or even whether it pays. For others, "retirement" means you stop working for the highest income-to-COL margin you can get, but keep working (usually part-time) at something that's not fulfilling just to have more time for hobbies or home life. For some people, neither of the previous two are considered "retirement" because you are still being productive. For these people "retirement" means they stop working entirely and do nothing but watch TV and consume. It's this last group Shapiro is warning against becoming, because these are the people who die. Humans have to be _productive_ in some way or they deteriorate. Being _productive_ does not mean you have to make money, nor that you have to love what you are doing - but it does mean that what you do benefits people somehow. A human's sense of his or her own value correlates with his or her will to continue living.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I retired at age 60. I am now 77. I have truly enjoyed time off from work, and love seeing my grands grow and my adult kids become fully mature. Husband is 82. We have loved retirement!
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
talking about coaching, do u consider anyone worthy for recommendations? I have about 80k to taste the waters now that large cap stocks are at a discount... thanks
Retirement isn’t the end of work completely. It’s the end of mandatory work. You can do hobbies and turn into a business or do updates to your home on your own and learn.
This. The people who die within 5 years after retirement are the ones who were workaholics and their job WAS their life. For the rest of us that have interests outside of work, the world opens up when we have more free time.
I like this. My intent is to be able to choose to retire at 57. If I am still being paid well and making good money I plan to keep working indefinitely.
This is my fifth year after retirement. I’ve been following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $460k outside funds in my IRA to invest in stocks. Pls how do I take advantage of the market turnaround?
In fact, I had no prior experience or understanding when I began investing in 2018, but by the end of 2019, I had made a profit of almost $750k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@maryHenokNftbravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
*Gertrude Margaret Quinto* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
That’s great! My wife and I worked a ton of hours over many years, and 3 years ago at age 60 we sold our small business to one of our vendors and retired. Honestly, it’s been awesome. We’ve always tried to live a healthy lifestyle, but ramped it up in retirement. I ride by road bike (or Peloton if the weather’s bad) every other day, and do weight training on the off days. We eat super healthy and never have seconds, and my weight is down 20lbs to close to what I weighed in college. My yearly physicals since have been excellent prompting my doctor to say whatever I’m doing - keep doing it! No more stress of running a business with 15 employees and ever more demanding customers. We travel a bunch and love the scheduling freedom we never had. She works at a winery tasting room one or two days a week near our home, and does volunteer work for Make a Wish, and I do some assistant football coaching at our local high school, and actually now have more time to work on my old sports car and doing house projects. You do need to be fiscally responsible and invest wisely during and after your working years, but if you do retirement can be the best thing ever.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I retired eleven years ago at 56 and my wife joined me three years later. Her 90yo father retired at 55 and is still around and healthy. Retirement is only called overrated by people that still work.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I had to retire in the great recession because there were no jobs. I lost $600K in retirement assets. I found a way to make the money work and retired at 59 because no one was going to hire me. And fifteen years later I have enough money to pay the bills and some left over for fun and as much as I enjoyed work, *I would not trade one day of those fifteen years for more money. When you have enough you have enough.* And if the bills are paid with some left over every month and you don't wake up wondering where you're going to live or what you're going to eat, well life doesn't actually get much better than that. Thanks to Social Security.
If you live til 65, there’s a 50 percent chance you’ll live past 82. If you’re not overweight and a non smoker it’s even longer. Life expectancy figures are dragged down by people who young. Ben is off his rocker
My grandfather came into work til he was 92..but it was the business he built, his passion. My other grandfather worked on his ranch til age 85. But obviously both of them were putting in a lot less hours in old age..doing 4 hour workdays instead of 8-12 hour days. I have no plan to keep working past age 50 let alone past 65..but that's because my job isn't something I love it's something I do to make money.
I retired at 60.❤ Work part time.❤ Take great care of my home.❤ Painted my walls and baseboards.❤ Shampoo, my carpets.❤ Mowed my grass❤ I dust my inside of my home❤ The list goes on and on.❤ Never looked better❤ That's every year❤ So much to do and never worked harder, then inside and outside of my house😮
I retired 9 years ago at 51. Retirement is like everything else in life. If you don't plan it chances are it's not going to happen or it won't turn out the way you want it. For me, retiring was easy because after working in law enforcement for 23 years I hated my job. Too much stress, too much bs, and too much interruptions and interference in my personal life. So I'm enjoying retirement very much. Going to the gym, walking my dog, traveling, hanging out with family and friends, reading, and some days just doing nothing. My worst day in retirement is better than most days working. If you're wondering how I did it - live below your means, don't pay interest on your credit cards, buy a car every 10 years or longer, invest in the stock market (401k, 403b, IRA, or regular account), don't get divorced.
Ben Shapiro is 100% correct! Why would anyone want to retire, unless it's a health issue? When you retire, it means you've thrown the towel in, you just want the cush life, you no longer are productive or have anything to offer society any longer.
Spot on. I’m 51 and will retire in 3 years when the last one goes off to college. Hubby and I have been working hard and plan on enjoying retirement. We’re not waiting until we get too old to enjoy it
No one needs Ben’s advice on finding fulfillment after a career. He is in an air conditioned studio yapping all day. He isn’t a nurse, a doctor, a mechanic, loading luggage on planes, etc. It’s easy to be anti-retirement when you just get paid to yap. He doesn’t do actual labor or work. No one needs Ben’s advice to find fulfillment. Let retirees determine that on their own.
So full of opinions yet full of so little knowledge. Shapiro literally says that he is talking about giving up on life and lying on a beach or a sofa all day rather than laboring for something. His point was that we shouldn't become sacks of potatoes, that it's bad for our health and our character.
I retired at 62 three years ago and absolutely love it! I have good health, lots of friends, hobbies, travel a lot and have enough money without taking social security. I’ll hold off on taking social security until age 70. My 89 year old mom ran out of savings/401k ten years ago and is just getting by (with some help from me) and social security. Without social security she’d be in trouble. Retirement is way more fun and fullfilling than I expected. Sorry young people - retirement is a blast. Hope you get to retire some day.
It was hard reading, "...without blank, blank, she'd be in trouble". It sounded cold. Back in the day grandma and grandpa used to go live with one of a son or daughter. I'm sure you love your mom, but that sounded cold hearted.
When I listened to Clark Howard years ago a statement he made always stuck with me. He said “I want to work I just don’t want to have to work” probably not an exact quote but it always stuck with me.
I will retire from my full time gig at 65ish (desk job), but want to do other "jobs" or interests/volunteer. My parents retired at 62, company early outed them. They worked part-time jobs until 70, and are now 90 and doing great. Staying on physical and mental health is key. They both stayed social and active.
Same here. I'm a software engineer working in the SF Bay Area and plan to retire in 3 years. I plan to transition into going deeper into home renovation, which I have enjoyed doing in our own home. This will be right around when our 3 kids finish college and launch into adulthood. They plan to buy nasty cosmetic fixers as their first home to get a good deal and I will do their reno. My other hobby is DIY mechanic work on our family cars. We've always purchased used cars and driven them for 15+ years. I'm looking forward to being the "mobile mechanic" for family and friends.
Congrats to your parents. Hope you have a long and happy retirement. That's the proper answer to retirement. Not whatever conservi-Smurf is blathering about.
I agree. We are designed to do tasks, new and interesting tasks. We started traveling in our 20s and never stopped, so there are not a lot a places still on the bucket list.
Yeah, ben is in his 30s and works a white collar job. If he was actually in his 60s and had worked hard manual labor, then he would be saying something completely different.
I retired 24 years ago and never felt better. I have many hobbies and travel that I put off while I had to work 9-5 and raise kids. Now I have time for all of these things. I am not bored or lonely.
I've been retired for 6 years and everyone down my street knows me because I've become Mr Fixit !!! I don't do it for money but because I like helping people who can't help themselves. I've met nice people in the process and it's helped to bring the neighborhood closer.
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
The people who make their work/career their whole identity, die early when they retire. Have a purpose outside of your work and career. There’s more to life than just working.
my father in-law retired at 62 on social security and some side income from ginseng and yellow root sales. He passed last year at 93. he was a logger who worked in timber since he was 14
There’s a difference between retiring from work and retiring to living. Retiring to living is how people live 20-30 years after they retire. Retiring from work is how people die 5-10 years after they retire.
well life expectancy isn't that long as it is so yea 10 yrs after retirement is like 77 -- my mom is 77 this october. hopefully she stays with us a long time. She retired 67
I've always found the "Anti-retirement" movement rooted in people who live to work, as opposed to people that work to live. There is no shame in that, however I believe most people will relate more with having to work to live. I am firmly in the work to live camp and I am heavily, in regards to my current income levels, investing for my future retirement. This is still fairly far off for me, currently in my 20's, however I have enough hobbies and interests that will keep me busy well into life and I can't wait until I can really put my full attention to them. Working in Elder care really helped solidify my views on this as well. I've spoken to quite a few who had regrets in life, never once did I hear "I wish I worked more" as a regret. It was usually "I wish I experienced this experience.", "I wish I spent more time with my family.", or "I wish I planned my finances better.".
True. He is like me. We enjoy working. An alien perspective to you and up to 98% of people. Retire TO something. Not just sit and watch tv all day and drink booze on the beach. DO SOMETHING.
work to live is a dangerous path, as you can find yourself postponing 'live' to future over and over. Finding a work which is your life is much more fulfiling. With my work I never felt that I had to work - I was always looking forward to do it as a most interesting thing in life.
I am a correctional officer in a maximum security prison. I dont love my job and I dont hate my job. Been at it for 15 years. I dont find any kind of personal fulfillment in what is arguably one of the most toxic work places to exist. I see this job as a good way to provide for my wife and kids and the benefits are really good. So i lace up my boots, put on my duty belt and go to work everyday. Society obviously needs people like me who are not looking for any feelings of satisfaction outside of their paychecks, otherwise some very bad people will be on the street. I am eligible to retire at 50, i am mandated to retire at 57. I will probably go till 57 just to get my kids through high school and launched. I try to balance enjoying my life now as well as preparing for my retirement years. I am not wishing my life away for a day that may never come. I have known enough people who have died during their pre retirement years and also enough people who have been flat broke during retirement to know you have to find a balance. I have a little 5 acre hobby farm now, when i retire i plan to spend more time on my farming, but i do spend some time at it now. I may take a part time gig for money or i may not. Just depends on what our needs are and how i feel about it when the time comes. I usually work a couple overtime shifts every week so that we can afford my wife to stay at home and homeschool our very young children and also so we can save a little for retirement. We both drive used vehicles. We have a little bit of debt, but not too much. I am just an average joe living my American dream. Dont know why i rambled so much, maybe it will help someone.
I stayed home and homeschooled our 4 kids and it was the best thing! Our last one graduates this year and we are in our early 50’s-I wouldn’t change it for the world! The memories, they turned out great, and we are so close. You’re doing a great thing and you won’t regret it! We’ve lived simple so we could do it and it was the best decision ever…investment in them and things that last. 💕
I'm a 48-year-old doctor feeling burnt out from long hours and stress. I've never invested in a retirement portfolio because I've always believed the economy would collapse eventually. However, I plan to retire soon and I'm curious: If you had $100k to invest safely in stocks over 4-5 years to grow, how would you start?
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
At the end of the day, there's no one particular way of bridging that gap. but starting to save early and investing in the financial markets can never go wrong. if I were to start over in 2024 with less than $50k I would still use the portfolio management play-book.
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like “b”Becky lou Gordon I've worked with her for 9 years and highly recommend her. Check if she meets your criteria.
I "retired" at age 40 from the military with income and medical care for live.I'm not rich by definition but I have supplemented working, singing and playing bass here and there, having a business working my own hours, got an associate degree (thanks to the G.I.Bill). Today I'm 70 years old and I've been collecting social security (along with retirement) since age 62 and I'm STILL not rich but GRATEFUL to GOD that He supplies, not necessarily what I want but MUST DEFINITELY NEED... And I'm not complaining PRAISE GOD!!!
My 75-year-old dad is one of the fortunate ones who has a small pension and social security. He lives very modestly BUT his fixed income is enough for him to live modestly even in today's economy. For those that would look at my dad and say you live too modestly I laugh. You know what my dad has that I don't right now. He has NO boss, NO co-workers, NO customers / clients for those of you are self-employed, he has NO one he must answer to. What he has is a fixed income that affords him a modest life without having to put up with a boss, co-workers, customers/clients, etc. AND that above all else is what I hope to achieve in about 10+ years from now. ----- I WANT A PURPOSE, A REASON TO GET OUT OF BED WHEN I RETIRE BUT I ALSO WANT TO PUT BOSSES, CO-WORKERS, CUSTOMERS/CLIENTS, THE PUBLIC BEHIND ME, WAY BEHIND ME!!
I retired in '99 worked P/T for 12 years and have been totally retired since. I am happy with my choice. I've have a serious illness and lost my wife since I fully retired but all in all things are OK as I face 80 in three months.
Don't listen to people in their 40's and 50's who tell you about retirement, what it's like, how retirees feel, etc. They have no idea. Unless you are in your mid 60's and beyond there is no way you can understand the physical, mental, financial, and emotional aspects of aging. Your energy level is different. Your outlook is different. Your view of the future is different. And retirement is a personal choice. It's not for everyone. It's not one size fits all. It depends upon your wiring, constitution, health, personality and energy level. And your financial wealth, annual income, and lifestyle. These are all significant variables.
With that said, you can’t prove that retirement is good or bad for someone. If people have been paying ss since they were 16, why wouldn’t they get a return for the tax dollars they spent. Especially letting the government hold onto that money for you to do what they want with. I would say the majority of retired people I see daily are happy. The ones that are unhappy are people that are unhappy at any stage of life.
Yeah, i am not going to be commuting 2 hours a day and going to this office sitting at a computer 8 hours a day whrn I am 65. My meaning isnt derived from rotting away at a computer desk 8 hours a day 5 days a week.
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
Exactly! My grandparents were so frugal but they had a TON of money on both sides. I remember my grandfather telling me "you want to make money while you sleep." And I guess that attitude passed down to my dad (RIP), because I remember going to his house one day and I had bought something I really liked, so I wanted to show it to him. So I said "Look at this! Isn't it cute? It was on sale...I saved 50%!" My dad replied "Well, if you're spending, you're not saving." Obviously I had no retort, and that has always stuck with me.
Saving and investing wisely while prioritizing necessities and a few small luxuries in relation to one's total assets is a great approach. It helps ensure financial stability and I my for the enjoyment of life's little pleasures without compromising long-term financial goals. It's all about finding a balance that works for you!
For myself, what I found out during the pandemic, is having a reason to get up in the morning was important. I was put on furlough. Initially, it was great. It was basically an extended vacation. But, after I did all the "honey-do" chores. That was it. I was _really_ bored just a few months into it and I needed money to pay for stuff. So, I had to find another job. To me, the concept of retirement is that I get to choose my work, not that I will stop working. Being active and having a purpose is important. BTW, my original employer did finally reach out to me over a year later to offer my job back - but I found a better job with higher pay, so it worked out. 5 years is certainly an exaggeration. My grandparents are retired for 15+ years. Most people I know that retired got at least 10 years out of it. Ben is a good example of when smart people sound dumb when they venture outside their areas of expertise.
Some people retire and stop living. Stop being engaged in social situations. Most of my friends retire but stay engaged in church, sports activities, gardening on and on. It’s about individual choices.
Long story short: Young work-a-holic can't understand people not working... I was there myself for years... But the closer I get to retirement, to more I can see how I can stay busy and fulfilled without my current specific job... And get a better "work"/life balance...
@@dancooper6002 Or, media personality assumes not having a paying job is the only way to avoid sloth... Sloth is bad, but assuming that not having a paying job == sloth is pretty shortsighted. Oh, I get it!! You are saying he is short-sighted... Got it... ;-)
My grandparents retired in '94. Traveled the US and Canada till '99. Then traveled in the winter till '08. My grandpa has been busy every day, even now. Always having "projects".
I have been retired for 8 years and I love every minute of my retirement. My health has gotten better! My doctor cut my medications by 50% in the first two years of my retirement! I love not having to wake up at some unGodly hour to hop in the car and go to work. I'm happy not being hammered from upper-management wanting more and more from me on a daily basis. I never felt accomplished at anything because the goal kept changing and whatever I did was never enough. It was exhausting. Anyway, say what you want about retirement, but I'd vote for it every day of the week.
I'm 54 and working a corporate job feels different at least for me. I don't know if corporate America changed for the worst over the years or if I changed, but I'm ready to call it quits as I tire of the BS.
I think most people don't quit their job but quit their immediate managers. If they we're more or less left alone to do their job and not have to deal with the politics of the office and massage egos in the hallways...they'd continue working.
Corporate America has changed for worst. I am around the same age as you and it has definitely gotten worse when compared to say the mid-90s. I do like working from home though. Most people are toxic and always have been. Working from home just makes it easier to deal with.
Corporate America has gotten way worse. They are putting out unrealistic metrics and firing people left and right if they dont make that imaginary 100% mark. Ive spoken to many 40-50 year olds in Florida who all tell me one thing. RUN DONT WALK from corporate America as soon as possible.
@@markbajek2541 You're on point with your comment. A couple of years ago I got transferred to a new dept as the one I worked prior was shut down so therefore I got a new boss and he's by far the worst boss I've ever had to deal with. After 22+ years I hate to throw everything away just because of one toxic boss especially since I plan on retiring in about 5 years. He's a young millennial along with the millennial mentality, I bite the bullet and ride this wave as long as I can until about 60 years old and I'm running out of there never to look back. If something else comes along in my line of work in the next year or two I'll leave sooner and ride that wave until 60 years old for a couple of years.
I retired at age 55. 10 years later, I am still alive and happy. If people retire at 65, 10 years later they are 75, and guess what, they are closer to death. That average age for cancer is 60. So yea, the older you get, the likely you are to die.
Ben Shapiro obviously surrounds himself with people who define themselves with jobs, so I'm not surprised by his statements. He's also not able to speak for all occupations. He talks into a camera for a living, whereas I'm a residential carpenter and I truly can't picture myself climbing around in roof truss' when I'm 80. I live in a outdoorsy town where people can't wait to get off work so they can do the things that actually matter to them. I'm 35, I like my job, but I'm not married to it. I have a ton of hobbies and could happily retire tomorrow. I will agree, do not retire until you have a plan for all the extra time you'll have.
I'm a welder in my mid 50's. Tradesmen don't retire at all because we are ALL dead by then.. I honestly don't know anyone that has worked their whole life (really worked) and has retired without a medical issue causing it. Shit, I'm "the old guy" on any site I walk onto.. I'd consider 5 years of retirement without being crippled a freaking blessing. Not even joking
No kidding! I worked in aviation and on light rail trains. Show me a skilled-trades person who doesn't have severe arthritis and joint issues. Many if not most die early.
As of Ben’s comments, some people labor at work, not sitting at a desk. Also, those who sits at a desk might be stressed. Hard labor or stress can shorten your life. I retired at 62, great decision. No stress, no working for someone else, no asking permission to use my vacation days, and so much more. 👍retire ASAP!
This is a really good one Ken. Retirement is not stupid. I’ve been pretty good with my money, and I should have a fair amount to help fund my retirement, plus my job has a very good retirement plan. I am a Railroad Conductor, and by my retirement age of 60, I’ll have been at my job nearly forty years. Being a Railroad Conductor is what I do. It’s not who I am. I will retire at 60. I’m not saying that I won’t work. I just won’t work that job anymore, and if I decide to take time off to travel, pursue interests, catch up with friends and family, or volunteer with my time, there is absolutely nothing wrong with that. On another note, some jobs have a lot tougher lifestyle than others, so winding those careers down is a good idea for many reasons.
After 34 years being a 9-1-1 Dispatcher, I'm retiring, I'll be 62 (in a couple years). I am so looking forward to this, but you are correct, friendships, hobbies etc. I myself will get a lot more saddle time with my horses and plan on inviting women veterans to ride with me... As a disabled veteran myself, this has been near and dear to my heart and I plan on moving forward with it once I retire.
I’m out at 58……some things are more important than money! If you live within your means and stay out of debt……stay the course so to speak, retirement is possible at 58. My dad retired at 60 and he’s is now 92. He didn’t quit working……he just did what made him happy and still does. That’s my plan!! 🤞🤞
Ben Shapiro is partially right. Viktor Frankl, Holocaust survivor and the father of logotherapy, discovered that a sense of purpose is critical to the will to live. If you feel that your employment is your purpose, you indeed will die shortly after retirement. And before we jump to the conclusion that that is a sad purpose, remember that many people have very important jobs that make a difference in the world. This really applies to people such as teachers, clergy, first responders, etc.
I have so many relatives who retired early and they’re already in their late 80s and very happy and comfortable in life, able to spend so much time with grandkids. I hope to God they don’t raise the social security age since I’m retiring in 2 years at 58 and I plan to take the benefit at 62.
There MIGHT be some truth in what he says IF my only purpose in life was to work. Traveling, spending time with family, home improvement etc are all things that I enjoy outside of work and are much more worthwhile to me.
Ben - Young fella, you sound a lot like someone who has never held a full-time productive job requiring a generally recognized useful skill set. Lemme tell ya how it is from the perspective of an 89 year old who served on active duty in the Marine Corps, and retired from a 30 plus year productive and mostly enjoyable career as an electronics systems engineer in the Defense industry. My wife is also retired from over 20 years of factory work in commercial electronics and Defense work. We both love retirement, are in good overall health, and enjoy our friends and neighbors. We are as active as we wish to be, when we wish to be. I am a life member of the American Legion, the VFW,, and the Marine Corps League, and still somewhat active in those organizations. I'm also a Ham radio operator, AB1PW with an Extra Class license. I praise God for who He is, and for His many blessings in our lives. Until He "calls me home", I'll "Keep on Truckin' ".
i'm wired to be a happy hermit. 66 and was self employed for 35 years. stopped working 3 years ago. plenty of money and insurances all paid up. widower 5 years in. if you are worried about loss of purpose, get a dog. best thing i ever did. people and community are two facets of life that a lot of us do not need or seek out.
I retired from my full time job at 48. Retirement has many factors. I'm on my first marriage, our kids are grown, we are debt free because we were frugile and focused. Other than taxes and utilities. We now both work 20 hrs per week at enjoyable easy going jobs. We love exercise, hiking, and bike riding. Don't smoke, rarely drink. You have to be intentional. 5 P's. Proper Planning Prevents Poor Projects.
It really depends on the person I think. Some people have to be moving all the time and they go crazy without something to focus on and give them purpose. Others are quite comfortable to get up each day without much of a plan, and putter around the house, maybe run errands, take a nap, etc.
My dad is 74 and has been retired 12 years. His body couldn’t take the factory work anymore. Ben is wrong. My dad has thrived on his 150 acre ranch he bought. He’s much healthier and less stressed.
I retired at 55 at the end of February. Work was always a means to an end for me. It wasn’t my life. And when the point came where I could not go in everyday and still live basically the same lifestyle, it was an easy decision. I’ve known so many men about my age just fall over dead, it reframes your priorities in life. But I’m very fortunate, I have a bunch of hobbies and interests completely separate from my work life. I’m not bored. I’m free.
People who retire finally have time to see a Dr. I retired last July, working halftime for the financial and physical benefits. Also still adding to my retirement account, which I don't need yet. That's when I learned I had a cancer. The local VA, behind UK Medical Center, found and cured it within 6 months, @ $500 out of pocket. I finally had the time. It's up to you to decide what to do with your retirement, in fact all of your time, because that's all life really is; an unknown period of time.
I was unemployed for 6 months to a year in my 20s... travelled Austrailia. New Zealand and Fiji. Greatest most fulfilling time of my life. I recommend everyone become unemployed for a long period of time!!!
That works if you have the money to travel. When I was young and unemployed I didn't have the money to pay for gas for my car let alone travel to Fiji. Things are way better now and I've been all over Mexico and Europe..but the next time I am "unemployed" it will be early retirement!! FIRE method!
I think we are dancing around one of the core issues, Ken too. Men in particular define their value as the utility they can provide for others. Always have, probably always will. It's actually one of the foundations of agape love, to personally sacrifice for the good of another. That's why entertainment, relaxation, and hobbies (particularly those that only benefit oneself) eventually feel hollow. The key is in retirement, seeking loving ways to be of service to others.
People really are living longer nowadays. Working until your 72 shouldn't be weird. My financial planner still works and he is 75 years old. The way this economy is going, I may not be able to retire! (Currently 57 years old...)
The hard part with health problems is sometimes they hit you out of nowhere. You can be doing all the right things eating healthy and planning for the future and then some drunk driver hits you out of nowhere changing your whole life. I know Ken / Ramsey as a whole doesn't like the FIRE movement but getting to financial independence sooner means I could transition and do some other job that maybe doesn't pay enough but is satisfying later. It also helps me if the worst happens to me down the road but before I had planned to retire. I want to get to financial independence early not just to retire but so I have options that I don't otherwise have.
Easy for Ben to say, forget finances, labor intensive jobs break the body down. The age should be reduced for these types of jobs. Fund SS, its not an entitlement. The premiums should be far higher, or offer an opt out with interest that matches the market average!
I have retirement plans, but no plans to retire. I will likely work less, but I hope not to fully retire. I may also do some charitable work, but until I am physically unable, I will not stop "working" either at my profession or another activity. Having work to do is a very good thing.
Ken - It’s not fair to say it’s our “fault” if we only have SS to live on. You don’t know everyone’s personal history. I am 69 and retirement is not a financial option. I still work part-time as a self-employed non-medical senior caregiver in a private home. I am very grateful that Social Security supplements my income. If I could retire on SS alone, I certainly would. I have no debt except for a used car payment. Life is good and so is my health. Thank you God.
What he ACTUALLY said: "The vision of retirement we are constantly sold - sitting on a beach in a lounge chair - may not actually be real for many people. And what’s more, all people need a sense of purpose - from family, from community, from church. Our society has steadily removed all of those social institutions from daily life. The elderly no longer live in intergenerational homes, helping out kids and grandkids; they’re too often shuttled into old age homes, dependent on programs like Social Security. Which means a lot of people find that purpose in work. Retirement from work without getting involved in another job, or another community purpose, or in church is a recipe for personal malaise." He is not advocating for workaholism. He is simply saying that "retiring" in the way many think about it, is not the God-send that everyone assumes it is, in absence of other sources of fulfillment. Many people don't have those other senses of fulfillment, so yes, retiring from work on top of all of that will be a problem for them.
very myopic point-of-view, intergenerational homes may not be a "thing" in USA - but there are millions upon millions of people in a vast number of countries that do this culturally. additionally, if a person has a child - they will forever have a purpose in life.
People can find meaning in just seating at the beach or other 'non usefull' activity . It says a lot about you and Ben Shapiro that you and him thinking people not being useful is a problem
Honestly, I like the work I do. Accounting. I’m 43, and been doing various forms of accounting since 2010. I don’t working until my mid 70’s. It’s on office job, something I can do for decades to come…..That’s just me, point being, find something you love to do and stick with it. I don’t think enough people put thought in what they want to do as a career when they are young and try different things if they don’t like the first thing. In the long run, you end up in a similar situation where you’re living just to not work later.
I think it depends on the person. My mom retired before 60, but works a lot in the garden, cooks, updates the house, takes care of the grandkids and stays very busy and active. My dad is still working into his mid 70s, but I have a feeling he won't do as well if he retires because all he would do is sit on the couch and watch tv.
Social security is not a gift and its not charity. It's something I purchased and deserve. In 2008 I got laid off, the equity in my rentals disappeared, my IRA's fell by 50% and there wasn't a job on the horizon. When the economy started to recover to where there were jobs I could apply to I was 62, do you have any idea how hard it is to find work at 62? I had been a senior manager in technical companies. I have an MBA. SO MUCH FOR DEPENDING ON MY INVESTMENTS AND HARD WORK AND BEING SELF-RELIANT. I lost at least $600K in retirement assets. I did it all and did it the way I should do it. Then I did the only thing I could do, I retired at 58. I lived on a tiny pension, some UI, part time teaching at a Community College, and when I turned 62 Social Security. I short sold one rental property and moved into the other. Fortunately I bought places I'd like to live in as rentals so I like my home and have housing security. When my income fell enough I qualified for VA Health Care thank god. And the government. Best health care I've ever had. Now I am pushing 75 and I'm slowing down, A lot of my friends are gone; my brothers are older and only one still lives; and if I'm lucky I've got another ten years. I would not give up one single day of the retirement I've had for more money. Had I to rely only on my savings and investments retirement would be impoverished; I'd need food stamps to eat. Social Security pays the difference in my life and I have money left over every month. **It was never intended to be the sole source of income for old people. It was intended to be a safety net for them and that's what it actually is!** And it could be quite secure and work for another 100 years if we didn't listen to those who want it to fail and insist taht it has, because it's been working for 100 years already. And I still do volunteer work because you're right. Most of us do need a purpose, to contribute.
I retired at the end of last year. Now I have time to travel (RVing), and volunteer at my Church. The days fill up quickly with things to do! Never felt better.
So many things wrong with the framing that SS is designed for individuals to live well. It’s not. It’s a safety net so that people don’t work all their lives then forced to survive on dog food in their old age if they didn’t save enough or medical bills puts them into bankruptcy. It’s all well and good for Ken and Ben to not need social security. They can donate their checks to a worthy cause if the system is not deconstructed when they retire. But they don’t speak for millions who’ve invested (involuntarily) into SS for decades and want their money back - plus interest earned.
I have never understood how people could be opposed to Social Security, or want to end it comoletely. To end Social Security is to condemn others to indigency in their old age. It is so very unkind.
To say that people are more likely to die the further they get out from retirement is to say that people are more likely to die as they get older. It’s not retirement that drives that, it’s getting older. Same for cognitive decline, overall health. Work, can keep you mentally sharp, but so could reading, playing golf, swimming, playing chess, etc.
Another young guy that thinks he knows what retirees emotionally need. I'm retired with no need to have meaning. I enjoy doing nothing if I choose, definitely no need for work or fulfillment. He's read too many books. There is no need for a focus to enjoy having free time to do nothing or something pending on our feelings.
Absolutely true, Ken is just as wrong as Shapiro about retirement. I need no 'purpose' to enjoy my days of freedom. Maybe play golf, maybe sleep in, maybe nap the day away, maybe watch TV, maybe go to a movie. I love 100% of my retirement with no need of 'purpose.' Run from the 'experts' like Coleman.
I'm 47. I've been working since I was 14. If I could retire tomorrow, I would do it in a heartbeat. There's nothing more disgusting than watching career politicians constantly voting themselves pay raises then tell pushing back the retirement age. It just goes to show everyone that a politician always puts themselves first and you last.
He says it all here “and they lose their purpose in life by leaving their job” Not everyone’s purpose in life is their job, Ben. Ben has sorta been losing his mind lately. 43 been retired 2.5 years it’s awesome.
Not in your shoes, but during my half year finding a new job I never ran out of things to do, never felt isolated. In general my work is a thing I do, not my life, and retirement would not change that.
I"m 71 and I've been retired for 30+ years. I wouldn't give up my (clear) 50k per year pension and medical insurance and go back to work for a dime less than 150k per year (after tax)
Thinking that my individual meaning and purpose come from where I make a paycheck is shallow. My meaning and purpose is more than being a wheel in a cog.
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
consider investment planning, learning from a well experienced advisor is invaluable
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
@@mariaguerrero08My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
Her name is “Izella Annette Anderson” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this. I'll send her an email to reach her, and I hope I'm able to reach her.
My dad died at 52 and my mom at 58, which inspired me to retire early. I'll happily die after 5 years of retirement rather than be a wage slave until the day I die.
my mom retired at 67- her sister never got to and died 65
That’s what I say! I have seen too many coworkers not make it out alive. Motivated me to get out at 55.
Facts!
Ben Shapiro is 100% correct! Why would anyone want to retire, unless it's a health issue? When you retire, it means you've thrown the towel in, you just want the cush life, you no longer are productive or have anything to offer society any longer. In other words, you're a lazy joke.
For some people, "retirement" means you stop working for the highest income-to-COL margin you can get, and start working at something fulfilling regardless of how much or even whether it pays.
For others, "retirement" means you stop working for the highest income-to-COL margin you can get, but keep working (usually part-time) at something that's not fulfilling just to have more time for hobbies or home life.
For some people, neither of the previous two are considered "retirement" because you are still being productive. For these people "retirement" means they stop working entirely and do nothing but watch TV and consume. It's this last group Shapiro is warning against becoming, because these are the people who die.
Humans have to be _productive_ in some way or they deteriorate. Being _productive_ does not mean you have to make money, nor that you have to love what you are doing - but it does mean that what you do benefits people somehow. A human's sense of his or her own value correlates with his or her will to continue living.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I retired at age 60. I am now 77. I have truly enjoyed time off from work, and love seeing my grands grow and my adult kids become fully mature. Husband is 82. We have loved retirement!
As you should. You've earned it.
❤ enjoy every minute of life
CONGRATS!! Happiness to you both!
Me too ! I am 70-- I have been retired for 11years---I spend much time with family, I sponsor a charity & I travel. ❤❤❤
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
talking about coaching, do u consider anyone worthy for recommendations? I have about 80k to taste the waters now that large cap stocks are at a discount... thanks
Sure, Annette Marie Holt is the licensed advisor I use. Just research the name. You’d find necessary details on the web to set up an appointment.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Retirement isn’t the end of work completely. It’s the end of mandatory work. You can do hobbies and turn into a business or do updates to your home on your own and learn.
Spot on
That’s me, learned all kinds of carpentry after retirement and how to weld!
This. The people who die within 5 years after retirement are the ones who were workaholics and their job WAS their life. For the rest of us that have interests outside of work, the world opens up when we have more free time.
I like this.
My intent is to be able to choose to retire at 57.
If I am still being paid well and making good money I plan to keep working indefinitely.
@@ZeikCallaway My guess is those same people would've died around the same time but dying at their desk instead of their couch.
This is my fifth year after retirement. I’ve been following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $460k outside funds in my IRA to invest in stocks. Pls how do I take advantage of the market turnaround?
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
In fact, I had no prior experience or understanding when I began investing in 2018, but by the end of 2019, I had made a profit of almost $750k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@maryHenokNftAmazing! I hope it's okay to inquire if you're still collaborating with the same fiduciary and how I can get in touch with them?
@@maryHenokNftbravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
*Gertrude Margaret Quinto* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
My dad's been retired for over 20 years! He's living his best life!
My mother retired at 59. She is 70 and living life🎉
That’s great! My wife and I worked a ton of hours over many years, and 3 years ago at age 60 we sold our small business to one of our vendors and retired. Honestly, it’s been awesome. We’ve always tried to live a healthy lifestyle, but ramped it up in retirement. I ride by road bike (or Peloton if the weather’s bad) every other day, and do weight training on the off days. We eat super healthy and never have seconds, and my weight is down 20lbs to close to what I weighed in college. My yearly physicals since have been excellent prompting my doctor to say whatever I’m doing - keep doing it! No more stress of running a business with 15 employees and ever more demanding customers. We travel a bunch and love the scheduling freedom we never had. She works at a winery tasting room one or two days a week near our home, and does volunteer work for Make a Wish, and I do some assistant football coaching at our local high school, and actually now have more time to work on my old sports car and doing house projects. You do need to be fiscally responsible and invest wisely during and after your working years, but if you do retirement can be the best thing ever.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Retirement isn't overrated. Work is overrated. If you are enjoying life outside of work, then you have a life.
I retired eleven years ago at 56 and my wife joined me three years later. Her 90yo father retired at 55 and is still around and healthy.
Retirement is only called overrated by people that still work.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can I get access to your advisor?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I have never met an elderly person who said “I wish I worked more”
Because they ARE still working
@@amireallythatgrumpy6508 a lot of people are retired and don't say they wished they worked more. So, it seems you do not have a point.
@@jamisojo A LOT of people (especially in the USA) are wrong and clueless about everything. So, it seems I do.
I have.
I had to retire in the great recession because there were no jobs. I lost $600K in retirement assets. I found a way to make the money work and retired at 59 because no one was going to hire me. And fifteen years later I have enough money to pay the bills and some left over for fun and as much as I enjoyed work, *I would not trade one day of those fifteen years for more money. When you have enough you have enough.* And if the bills are paid with some left over every month and you don't wake up wondering where you're going to live or what you're going to eat, well life doesn't actually get much better than that. Thanks to Social Security.
My parents retired at 62. They are still killing it in their mid 80s.
If you live til 65, there’s a 50 percent chance you’ll live past 82. If you’re not overweight and a non smoker it’s even longer. Life expectancy figures are dragged down by people who young. Ben is off his rocker
What are they doing to keep active?
My grandfather came into work til he was 92..but it was the business he built, his passion. My other grandfather worked on his ranch til age 85. But obviously both of them were putting in a lot less hours in old age..doing 4 hour workdays instead of 8-12 hour days. I have no plan to keep working past age 50 let alone past 65..but that's because my job isn't something I love it's something I do to make money.
Are they still playing hide the schnitzel?!
😆
I retired at 60.❤ Work part time.❤ Take great care of my home.❤ Painted my walls and baseboards.❤ Shampoo, my carpets.❤ Mowed my grass❤ I dust my inside of my home❤ The list goes on and on.❤ Never looked better❤ That's every year❤ So much to do and never worked harder, then inside and outside of my house😮
Nice!!
Good for you !!! I will also be doing those things when I retire in 3 years.. plus just enjoying the ability to do WHAT I want WHEN I want !!! 👍🏼
Yup....still work 12 hours a week (tutoring math), no stress, extra money for travel, exercise daily, make healthier meals. Thanks for sharing. Enjoy!
YES!!! LOVE IT!!!
I am not retired with full time job. I do all you listed except painting the house.
I retired 9 years ago at 51. Retirement is like everything else in life. If you don't plan it chances are it's not going to happen or it won't turn out the way you want it. For me, retiring was easy because after working in law enforcement for 23 years I hated my job. Too much stress, too much bs, and too much interruptions and interference in my personal life. So I'm enjoying retirement very much. Going to the gym, walking my dog, traveling, hanging out with family and friends, reading, and some days just doing nothing. My worst day in retirement is better than most days working. If you're wondering how I did it - live below your means, don't pay interest on your credit cards, buy a car every 10 years or longer, invest in the stock market (401k, 403b, IRA, or regular account), don't get divorced.
Same here, after working for 27 years I decided to retire seven years ago now I'm 61 and will file for social security benefits next year.
Ben Shapiro is 100% correct! Why would anyone want to retire, unless it's a health issue? When you retire, it means you've thrown the towel in, you just want the cush life, you no longer are productive or have anything to offer society any longer.
Awesome.
@sengyang6780
I don't know your financial situation, but you should file for social security at 67 (full retirement). If you can.
Spot on. I’m 51 and will retire in 3 years when the last one goes off to college. Hubby and I have been working hard and plan on enjoying retirement. We’re not waiting until we get too old to enjoy it
I prefer to call it "repurposing" rather than "retiring"
Great idea.
No one needs Ben’s advice on finding fulfillment after a career. He is in an air conditioned studio yapping all day. He isn’t a nurse, a doctor, a mechanic, loading luggage on planes, etc. It’s easy to be anti-retirement when you just get paid to yap. He doesn’t do actual labor or work. No one needs Ben’s advice to find fulfillment. Let retirees determine that on their own.
You must be a liberal beta
@@MrMistajone Lol is that you Jesse Peterson?? AMAZIN!
He literally said there are exceptions such as being in one of those fields.
So full of opinions yet full of so little knowledge. Shapiro literally says that he is talking about giving up on life and lying on a beach or a sofa all day rather than laboring for something. His point was that we shouldn't become sacks of potatoes, that it's bad for our health and our character.
@@MrMistajone I’m not
I retired at 62 three years ago and absolutely love it! I have good health, lots of friends, hobbies, travel a lot and have enough money without taking social security. I’ll hold off on taking social security until age 70. My 89 year old mom ran out of savings/401k ten years ago and is just getting by (with some help from me) and social security. Without social security she’d be in trouble. Retirement is way more fun and fullfilling than I expected. Sorry young people - retirement is a blast. Hope you get to retire some day.
It was hard reading, "...without blank, blank, she'd be in trouble". It sounded cold. Back in the day grandma and grandpa used to go live with one of a son or daughter. I'm sure you love your mom, but that sounded cold hearted.
@@7msjsterseemed very matter of fact to me rather than cold hearted. He also stated that he’s helping her out. Nothing cold hearted about that either.
When I listened to Clark Howard years ago a statement he made always stuck with me. He said “I want to work I just don’t want to have to work” probably not an exact quote but it always stuck with me.
Clark seems to be a nice guy. He needs to get saved.
I have no interest at all for working. 😊 I have no bosses now, it’s wonderful.
My attitude always.
It’s a lot easier to work when you know you can quit whenever you want and be just fine.
I will retire from my full time gig at 65ish (desk job), but want to do other "jobs" or interests/volunteer. My parents retired at 62, company early outed them. They worked part-time jobs until 70, and are now 90 and doing great. Staying on physical and mental health is key. They both stayed social and active.
Same here. I'm a software engineer working in the SF Bay Area and plan to retire in 3 years. I plan to transition into going deeper into home renovation, which I have enjoyed doing in our own home. This will be right around when our 3 kids finish college and launch into adulthood. They plan to buy nasty cosmetic fixers as their first home to get a good deal and I will do their reno. My other hobby is DIY mechanic work on our family cars. We've always purchased used cars and driven them for 15+ years. I'm looking forward to being the "mobile mechanic" for family and friends.
Congrats to your parents. Hope you have a long and happy retirement.
That's the proper answer to retirement. Not whatever conservi-Smurf is blathering about.
I agree. We are designed to do tasks, new and interesting tasks. We started traveling in our 20s and never stopped, so there are not a lot a places still on the bucket list.
@@gracecase998 I’m turning 41 years old on Sunday, October 6th
My parents retired at 60 and my mom passed at 90 and my dad at 100. They had a great life!
People say you lose your identity when you retire, for me it’s about finding my identity
No one should retire at 65..agree. Sixty is mire like it!
There's no way in hell I'm retiring before 80.
Yeah, ben is in his 30s and works a white collar job. If he was actually in his 60s and had worked hard manual labor, then he would be saying something completely different.
I retired 24 years ago and never felt better. I have many hobbies and travel that I put off while I had to work 9-5 and raise kids. Now I have time for all of these things. I am not bored or lonely.
I've been retired for 6 years and everyone down my street knows me because I've become Mr Fixit !!! I don't do it for money but because I like helping people who can't help themselves. I've met nice people in the process and it's helped to bring the neighborhood closer.
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
The people who make their work/career their whole identity, die early when they retire. Have a purpose outside of your work and career. There’s more to life than just working.
my father in-law retired at 62 on social security and some side income from ginseng and yellow root sales. He passed last year at 93. he was a logger who worked in timber since he was 14
There’s a difference between retiring from work and retiring to living. Retiring to living is how people live 20-30 years after they retire. Retiring from work is how people die 5-10 years after they retire.
oh I like this statement can we make some thirts and plaques
well life expectancy isn't that long as it is so yea 10 yrs after retirement is like 77 -- my mom is 77 this october. hopefully she stays with us a long time. She retired 67
My mom died at 77 she was in perfect health and then she got a lump.
@@bluesdirt6555 so sorry.
I've always found the "Anti-retirement" movement rooted in people who live to work, as opposed to people that work to live. There is no shame in that, however I believe most people will relate more with having to work to live.
I am firmly in the work to live camp and I am heavily, in regards to my current income levels, investing for my future retirement. This is still fairly far off for me, currently in my 20's, however I have enough hobbies and interests that will keep me busy well into life and I can't wait until I can really put my full attention to them.
Working in Elder care really helped solidify my views on this as well. I've spoken to quite a few who had regrets in life, never once did I hear "I wish I worked more" as a regret. It was usually "I wish I experienced this experience.", "I wish I spent more time with my family.", or "I wish I planned my finances better.".
True.
He is like me.
We enjoy working.
An alien perspective to you and up to 98% of people.
Retire TO something.
Not just sit and watch tv all day and drink booze on the beach.
DO SOMETHING.
work to live is a dangerous path, as you can find yourself postponing 'live' to future over and over. Finding a work which is your life is much more fulfiling. With my work I never felt that I had to work - I was always looking forward to do it as a most interesting thing in life.
I am a correctional officer in a maximum security prison. I dont love my job and I dont hate my job. Been at it for 15 years. I dont find any kind of personal fulfillment in what is arguably one of the most toxic work places to exist. I see this job as a good way to provide for my wife and kids and the benefits are really good. So i lace up my boots, put on my duty belt and go to work everyday. Society obviously needs people like me who are not looking for any feelings of satisfaction outside of their paychecks, otherwise some very bad people will be on the street. I am eligible to retire at 50, i am mandated to retire at 57. I will probably go till 57 just to get my kids through high school and launched. I try to balance enjoying my life now as well as preparing for my retirement years. I am not wishing my life away for a day that may never come. I have known enough people who have died during their pre retirement years and also enough people who have been flat broke during retirement to know you have to find a balance. I have a little 5 acre hobby farm now, when i retire i plan to spend more time on my farming, but i do spend some time at it now. I may take a part time gig for money or i may not. Just depends on what our needs are and how i feel about it when the time comes.
I usually work a couple overtime shifts every week so that we can afford my wife to stay at home and homeschool our very young children and also so we can save a little for retirement. We both drive used vehicles. We have a little bit of debt, but not too much. I am just an average joe living my American dream. Dont know why i rambled so much, maybe it will help someone.
To me it sounds as if you are on a good path. I wish you well.
Fellow family man, C0, homeschooler.
Thank you for sharing. I can relate and appreciate you. ✌️
I stayed home and homeschooled our 4 kids and it was the best thing! Our last one graduates this year and we are in our early 50’s-I wouldn’t change it for the world! The memories, they turned out great, and we are so close. You’re doing a great thing and you won’t regret it! We’ve lived simple so we could do it and it was the best decision ever…investment in them and things that last. 💕
I'm a 48-year-old doctor feeling burnt out from long hours and stress. I've never invested in a retirement portfolio because I've always believed the economy would collapse eventually. However, I plan to retire soon and I'm curious: If you had $100k to invest safely in stocks over 4-5 years to grow, how would you start?
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
At the end of the day, there's no one particular way of bridging that gap. but starting to save early and investing in the financial markets can never go wrong. if I were to start over in 2024 with less than $50k I would still use the portfolio management play-book.
think you could suggest any professional/advisors i can get in touch with? i'm in dire need of proper portfolio allocation
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like “b”Becky lou Gordon I've worked with her for 9 years and highly recommend her. Check if she meets your criteria.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
I "retired" at age 40 from the military with income and medical care for live.I'm not rich by definition but I have supplemented working, singing and playing bass here and there, having a business working my own hours, got an associate degree (thanks to the G.I.Bill). Today I'm 70 years old and I've been collecting social security (along with retirement) since age 62 and I'm STILL not rich but GRATEFUL to GOD that He supplies, not necessarily what I want but MUST DEFINITELY NEED... And I'm not complaining PRAISE GOD!!!
My 75-year-old dad is one of the fortunate ones who has a small pension and social security. He lives very modestly BUT his fixed income is enough for him to live modestly even in today's economy. For those that would look at my dad and say you live too modestly I laugh.
You know what my dad has that I don't right now. He has NO boss, NO co-workers, NO customers / clients for those of you are self-employed, he has NO one he must answer to. What he has is a fixed income that affords him a modest life without having to put up with a boss, co-workers, customers/clients, etc. AND that above all else is what I hope to achieve in about 10+ years from now. ----- I WANT A PURPOSE, A REASON TO GET OUT OF BED WHEN I RETIRE BUT I ALSO WANT TO PUT BOSSES, CO-WORKERS, CUSTOMERS/CLIENTS, THE PUBLIC BEHIND ME, WAY BEHIND ME!!
Dont forget an unequal amount of stress.
Amen to that !!! You nailed it !!! 👍🏼
I retired in '99 worked P/T for 12 years and have been totally retired since. I am happy with my choice. I've have a serious illness and lost my wife since I fully retired but all in all things are OK as I face 80 in three months.
Don't listen to people in their 40's and 50's who tell you about retirement, what it's like, how retirees feel, etc. They have no idea. Unless you are in your mid 60's and beyond there is no way you can understand the physical, mental, financial, and emotional aspects of aging. Your energy level is different. Your outlook is different. Your view of the future is different. And retirement is a personal choice. It's not for everyone. It's not one size fits all. It depends upon your wiring, constitution, health, personality and energy level. And your financial wealth, annual income, and lifestyle. These are all significant variables.
Very well said, the general loss of energy at 68yrs for me was a bit of a shock.
With that said, you can’t prove that retirement is good or bad for someone. If people have been paying ss since they were 16, why wouldn’t they get a return for the tax dollars they spent. Especially letting the government hold onto that money for you to do what they want with. I would say the majority of retired people I see daily are happy. The ones that are unhappy are people that are unhappy at any stage of life.
Yeah, i am not going to be commuting 2 hours a day and going to this office sitting at a computer 8 hours a day whrn I am 65. My meaning isnt derived from rotting away at a computer desk 8 hours a day 5 days a week.
Isn't retirement better defined as a state of doing only what you want, vs non retirement is doing what you must?
I figured this out at age 17.
Why did you not do exactly what you wanted?
I did starting then. 1970s.
That was your choice.
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
Exactly! My grandparents were so frugal but they had a TON of money on both sides. I remember my grandfather telling me "you want to make money while you sleep." And I guess that attitude passed down to my dad (RIP), because I remember going to his house one day and I had bought something I really liked, so I wanted to show it to him. So I said "Look at this!
Isn't it cute? It was on sale...I saved 50%!" My dad replied "Well, if you're spending, you're not saving." Obviously I had no retort, and that has always stuck with me.
Saving and investing wisely while prioritizing necessities and a few small luxuries in relation to one's total assets is a great approach. It helps ensure financial stability and I my for the enjoyment of life's little pleasures without compromising long-term financial goals. It's all about finding a balance that works for you!
very true, a huge part of my portfolio growth has come during this bear market. I've been able to scale from $180K to $572K in a short period of time.
How do you do that? I'm interested
Thanks to my co-worker (Alex) who suggested
Ms Brenda Leigh Van.
For myself, what I found out during the pandemic, is having a reason to get up in the morning was important. I was put on furlough. Initially, it was great. It was basically an extended vacation. But, after I did all the "honey-do" chores. That was it. I was _really_ bored just a few months into it and I needed money to pay for stuff. So, I had to find another job. To me, the concept of retirement is that I get to choose my work, not that I will stop working. Being active and having a purpose is important. BTW, my original employer did finally reach out to me over a year later to offer my job back - but I found a better job with higher pay, so it worked out.
5 years is certainly an exaggeration. My grandparents are retired for 15+ years. Most people I know that retired got at least 10 years out of it.
Ben is a good example of when smart people sound dumb when they venture outside their areas of expertise.
Some people retire and stop living. Stop being engaged in social situations. Most of my friends retire but stay engaged in church, sports activities, gardening on and on. It’s about individual choices.
Long story short: Young work-a-holic can't understand people not working...
I was there myself for years... But the closer I get to retirement, to more I can see how I can stay busy and fulfilled without my current specific job... And get a better "work"/life balance...
Young and driven man correctly points out that sloth is bad
@@dancooper6002 Or, media personality assumes not having a paying job is the only way to avoid sloth...
Sloth is bad, but assuming that not having a paying job == sloth is pretty shortsighted.
Oh, I get it!!
You are saying he is short-sighted... Got it... ;-)
My grandparents retired in '94. Traveled the US and Canada till '99. Then traveled in the winter till '08. My grandpa has been busy every day, even now. Always having "projects".
I have been retired for 8 years and I love every minute of my retirement. My health has gotten better! My doctor cut my medications by 50% in the first two years of my retirement! I love not having to wake up at some unGodly hour to hop in the car and go to work. I'm happy not being hammered from upper-management wanting more and more from me on a daily basis. I never felt accomplished at anything because the goal kept changing and whatever I did was never enough. It was exhausting. Anyway, say what you want about retirement, but I'd vote for it every day of the week.
My granpa has been retired since before I was born! He's now 102 and I'm 32
I'm 54 and working a corporate job feels different at least for me. I don't know if corporate America changed for the worst over the years or if I changed, but I'm ready to call it quits as I tire of the BS.
I think most people don't quit their job but quit their immediate managers. If they we're more or less left alone to do their job and not have to deal with the politics of the office and massage egos in the hallways...they'd continue working.
Corporate America has changed for worst. I am around the same age as you and it has definitely gotten worse when compared to say the mid-90s.
I do like working from home though. Most people are toxic and always have been. Working from home just makes it easier to deal with.
Corporate America has gotten way worse. They are putting out unrealistic metrics and firing people left and right if they dont make that imaginary 100% mark. Ive spoken to many 40-50 year olds in Florida who all tell me one thing. RUN DONT WALK from corporate America as soon as possible.
@@markbajek2541 agreed
@@markbajek2541 You're on point with your comment. A couple of years ago I got transferred to a new dept as the one I worked prior was shut down so therefore I got a new boss and he's by far the worst boss I've ever had to deal with. After 22+ years I hate to throw everything away just because of one toxic boss especially since I plan on retiring in about 5 years. He's a young millennial along with the millennial mentality, I bite the bullet and ride this wave as long as I can until about 60 years old and I'm running out of there never to look back. If something else comes along in my line of work in the next year or two I'll leave sooner and ride that wave until 60 years old for a couple of years.
I retired at age 55. 10 years later, I am still alive and happy. If people retire at 65, 10 years later they are 75, and guess what, they are closer to death. That average age for cancer is 60. So yea, the older you get, the likely you are to die.
I retired 7 years ago at 48. The last 7 years have been the best of my life.
The flip side is true too, which is work until 70 then die 1 year later, the point is you don't want to work full time until you die either
Oh but you do.
Ben Shapiro obviously surrounds himself with people who define themselves with jobs, so I'm not surprised by his statements. He's also not able to speak for all occupations. He talks into a camera for a living, whereas I'm a residential carpenter and I truly can't picture myself climbing around in roof truss' when I'm 80. I live in a outdoorsy town where people can't wait to get off work so they can do the things that actually matter to them. I'm 35, I like my job, but I'm not married to it. I have a ton of hobbies and could happily retire tomorrow. I will agree, do not retire until you have a plan for all the extra time you'll have.
I'm a welder in my mid 50's. Tradesmen don't retire at all because we are ALL dead by then.. I honestly don't know anyone that has worked their whole life (really worked) and has retired without a medical issue causing it. Shit, I'm "the old guy" on any site I walk onto..
I'd consider 5 years of retirement without being crippled a freaking blessing.
Not even joking
Exactly. This is another air conditioned pundit babbling here, though he’s not angry like Ben-take-da-shot-my-wife’s-a-doc
@@vikker8274 "air condition pundit" I like that!
I usually call them cubicle jockeys
No kidding! I worked in aviation and on light rail trains. Show me a skilled-trades person who doesn't have severe arthritis and joint issues. Many if not most die early.
Hard physical labor is tough on the body. That’s for sure. Best wishes.
@@susanmarie2231 Thank you Susan, same to you!
I’ll have plenty to do once retired
As of Ben’s comments, some people labor at work, not sitting at a desk. Also, those who sits at a desk might be stressed. Hard labor or stress can shorten your life. I retired at 62, great decision. No stress, no working for someone else, no asking permission to use my vacation days, and so much more. 👍retire ASAP!
This is a really good one Ken. Retirement is not stupid. I’ve been pretty good with my money, and I should have a fair amount to help fund my retirement, plus my job has a very good retirement plan. I am a Railroad Conductor, and by my retirement age of 60, I’ll have been at my job nearly forty years. Being a Railroad Conductor is what I do. It’s not who I am. I will retire at 60. I’m not saying that I won’t work. I just won’t work that job anymore, and if I decide to take time off to travel, pursue interests, catch up with friends and family, or volunteer with my time, there is absolutely nothing wrong with that. On another note, some jobs have a lot tougher lifestyle than others, so winding those careers down is a good idea for many reasons.
After 34 years being a 9-1-1 Dispatcher, I'm retiring, I'll be 62 (in a couple years). I am so looking forward to this, but you are correct, friendships, hobbies etc. I myself will get a lot more saddle time with my horses and plan on inviting women veterans to ride with me... As a disabled veteran myself, this has been near and dear to my heart and I plan on moving forward with it once I retire.
I’m out at 58……some things are more important than money! If you live within your means and stay out of debt……stay the course so to speak, retirement is possible at 58. My dad retired at 60 and he’s is now 92. He didn’t quit working……he just did what made him happy and still does. That’s my plan!! 🤞🤞
My grandfather retired in his 50’s after having a heart attack. He sat on his couch waiting to die and lived to be 80.
Retired at 62, 9 years ago. Loving it! Now the work around the property is all for myself and my grandkids, all enjoyable.
Ben Shapiro is partially right. Viktor Frankl, Holocaust survivor and the father of logotherapy, discovered that a sense of purpose is critical to the will to live. If you feel that your employment is your purpose, you indeed will die shortly after retirement. And before we jump to the conclusion that that is a sad purpose, remember that many people have very important jobs that make a difference in the world. This really applies to people such as teachers, clergy, first responders, etc.
I have so many relatives who retired early and they’re already in their late 80s and very happy and comfortable in life, able to spend so much time with grandkids. I hope to God they don’t raise the social security age since I’m retiring in 2 years at 58 and I plan to take the benefit at 62.
There MIGHT be some truth in what he says IF my only purpose in life was to work. Traveling, spending time with family, home improvement etc are all things that I enjoy outside of work and are much more worthwhile to me.
Ben - Young fella, you sound a lot like someone who has never held a full-time productive job requiring a generally recognized useful skill set. Lemme tell ya how it is from the perspective of an 89 year old who served on active duty in the Marine Corps, and retired from a 30 plus year productive and mostly enjoyable career as an electronics systems engineer in the Defense industry. My wife is also retired from over 20 years of factory work in commercial electronics and Defense work. We both love retirement, are in good overall health, and enjoy our friends and neighbors. We are as active as we wish to be, when we wish to be. I am a life member of the American Legion, the VFW,, and the Marine Corps League, and still somewhat active in those organizations. I'm also a Ham radio operator, AB1PW with an Extra Class license.
I praise God for who He is, and for His many blessings in our lives. Until He "calls me home", I'll "Keep on Truckin' ".
i'm wired to be a happy hermit. 66 and was self employed for 35 years. stopped working 3 years ago.
plenty of money and insurances all paid up. widower 5 years in. if you are worried about loss of
purpose, get a dog. best thing i ever did. people and community are two facets of life that a lot of us do not need or seek out.
Observing people that retired on social security only was a big wake-up experience for me.
I retired from my full time job at 48. Retirement has many factors. I'm on my first marriage, our kids are grown, we are debt free because we were frugile and focused. Other than taxes and utilities. We now both work 20 hrs per week at enjoyable easy going jobs. We love exercise, hiking, and bike riding. Don't smoke, rarely drink. You have to be intentional. 5 P's.
Proper
Planning
Prevents
Poor
Projects.
It really depends on the person I think. Some people have to be moving all the time and they go crazy without something to focus on and give them purpose. Others are quite comfortable to get up each day without much of a plan, and putter around the house, maybe run errands, take a nap, etc.
Ben don’t know me! Retired at 50. Never been so busy in my life! How did I fit in a job?
My dad is 74 and has been retired 12 years. His body couldn’t take the factory work anymore. Ben is wrong. My dad has thrived on his 150 acre ranch he bought. He’s much healthier and less stressed.
I retired at 55 at the end of February. Work was always a means to an end for me. It wasn’t my life. And when the point came where I could not go in everyday and still live basically the same lifestyle, it was an easy decision. I’ve known so many men about my age just fall over dead, it reframes your priorities in life. But I’m very fortunate, I have a bunch of hobbies and interests completely separate from my work life. I’m not bored. I’m free.
My brother and husband both died at the age of 59. So I retired at 60. Time is something that you could never take back
People who retire finally have time to see a Dr. I retired last July, working halftime for the financial and physical benefits. Also still adding to my retirement account, which I don't need yet.
That's when I learned I had a cancer. The local VA, behind UK Medical Center, found and cured it within 6 months, @ $500 out of pocket. I finally had the time.
It's up to you to decide what to do with your retirement, in fact all of your time, because that's all life really is; an unknown period of time.
I was unemployed for 6 months to a year in my 20s... travelled Austrailia. New Zealand and Fiji. Greatest most fulfilling time of my life. I recommend everyone become unemployed for a long period of time!!!
That works if you have the money to travel. When I was young and unemployed I didn't have the money to pay for gas for my car let alone travel to Fiji. Things are way better now and I've been all over Mexico and Europe..but the next time I am "unemployed" it will be early retirement!! FIRE method!
Who paid for it mommy?
@@Timmer-qp8sy nope. All me.
Privileged and rich parents
@@amitchawla5124 I simply saved the money and went.
I think we are dancing around one of the core issues, Ken too. Men in particular define their value as the utility they can provide for others. Always have, probably always will. It's actually one of the foundations of agape love, to personally sacrifice for the good of another. That's why entertainment, relaxation, and hobbies (particularly those that only benefit oneself) eventually feel hollow. The key is in retirement, seeking loving ways to be of service to others.
People really are living longer nowadays. Working until your 72 shouldn't be weird. My financial planner still works and he is 75 years old. The way this economy is going, I may not be able to retire! (Currently 57 years old...)
The hard part with health problems is sometimes they hit you out of nowhere. You can be doing all the right things eating healthy and planning for the future and then some drunk driver hits you out of nowhere changing your whole life. I know Ken / Ramsey as a whole doesn't like the FIRE movement but getting to financial independence sooner means I could transition and do some other job that maybe doesn't pay enough but is satisfying later. It also helps me if the worst happens to me down the road but before I had planned to retire. I want to get to financial independence early not just to retire but so I have options that I don't otherwise have.
Easy for Ben to say, forget finances, labor intensive jobs break the body down. The age should be reduced for these types of jobs. Fund SS, its not an entitlement. The premiums should be far higher, or offer an opt out with interest that matches the market average!
I have retirement plans, but no plans to retire. I will likely work less, but I hope not to fully retire. I may also do some charitable work, but until I am physically unable, I will not stop "working" either at my profession or another activity. Having work to do is a very good thing.
Ken - It’s not fair to say it’s our “fault” if we only have SS to live on. You don’t know everyone’s personal history. I am 69 and retirement is not a financial option. I still work part-time as a self-employed non-medical senior caregiver in a private home. I am very grateful that Social Security supplements my income. If I could retire on SS alone, I certainly would. I have no debt except for a used car payment. Life is good and so is my health. Thank you God.
What he ACTUALLY said: "The vision of retirement we are constantly sold - sitting on a beach in a lounge chair - may not actually be real for many people. And what’s more, all people need a sense of purpose - from family, from community, from church. Our society has steadily removed all of those social institutions from daily life. The elderly no longer live in intergenerational homes, helping out kids and grandkids; they’re too often shuttled into old age homes, dependent on programs like Social Security. Which means a lot of people find that purpose in work. Retirement from work without getting involved in another job, or another community purpose, or in church is a recipe for personal malaise."
He is not advocating for workaholism. He is simply saying that "retiring" in the way many think about it, is not the God-send that everyone assumes it is, in absence of other sources of fulfillment. Many people don't have those other senses of fulfillment, so yes, retiring from work on top of all of that will be a problem for them.
Thank you. I don't see any controversy. Humans die if you don't have a higher purpose. His attack was on the nihilism in our society.
very myopic point-of-view, intergenerational homes may not be a "thing" in USA - but there are millions upon millions of people in a vast number of countries that do this culturally. additionally, if a person has a child - they will forever have a purpose in life.
Well said, @ashleyslack5960; many of the comments seem to be taking Ben's point out of context to make an unnecessary rebuttal.
None of what's in your comment is in this clip so I severely doubt you
People can find meaning in just seating at the beach or other 'non usefull' activity . It says a lot about you and Ben Shapiro that you and him thinking people not being useful is a problem
Honestly, I like the work I do. Accounting. I’m 43, and been doing various forms of accounting since 2010. I don’t working until my mid 70’s. It’s on office job, something I can do for decades to come…..That’s just me, point being, find something you love to do and stick with it. I don’t think enough people put thought in what they want to do as a career when they are young and try different things if they don’t like the first thing. In the long run, you end up in a similar situation where you’re living just to not work later.
I think it depends on the person. My mom retired before 60, but works a lot in the garden, cooks, updates the house, takes care of the grandkids and stays very busy and active. My dad is still working into his mid 70s, but I have a feeling he won't do as well if he retires because all he would do is sit on the couch and watch tv.
Social security is not a gift and its not charity. It's something I purchased and deserve.
In 2008 I got laid off, the equity in my rentals disappeared, my IRA's fell by 50% and there wasn't a job on the horizon. When the economy started to recover to where there were jobs I could apply to I was 62, do you have any idea how hard it is to find work at 62? I had been a senior manager in technical companies. I have an MBA.
SO MUCH FOR DEPENDING ON MY INVESTMENTS AND HARD WORK AND BEING SELF-RELIANT. I lost at least $600K in retirement assets. I did it all and did it the way I should do it. Then I did the only thing I could do, I retired at 58. I lived on a tiny pension, some UI, part time teaching at a Community College, and when I turned 62 Social Security. I short sold one rental property and moved into the other. Fortunately I bought places I'd like to live in as rentals so I like my home and have housing security. When my income fell enough I qualified for VA Health Care thank god. And the government. Best health care I've ever had.
Now I am pushing 75 and I'm slowing down, A lot of my friends are gone; my brothers are older and only one still lives; and if I'm lucky I've got another ten years. I would not give up one single day of the retirement I've had for more money.
Had I to rely only on my savings and investments retirement would be impoverished; I'd need food stamps to eat. Social Security pays the difference in my life and I have money left over every month. **It was never intended to be the sole source of income for old people. It was intended to be a safety net for them and that's what it actually is!** And it could be quite secure and work for another 100 years if we didn't listen to those who want it to fail and insist taht it has, because it's been working for 100 years already.
And I still do volunteer work because you're right. Most of us do need a purpose, to contribute.
I’m retiring the day I turn 59 with 30 years of federal service. The odds are greatly in favor of me lasting more than 5 years after retirement.
There is no point in lasting if you are retired
??
I retired at 54 and now turning 62 this year. I am happy! Taking Social Security this year when I turn 62! Living a good life….
I retired at age 64 and I am now age 70. No plans on stopping soon.
I retired at the end of last year. Now I have time to travel (RVing), and volunteer at my Church. The days fill up quickly with things to do! Never felt better.
So many things wrong with the framing that SS is designed for individuals to live well. It’s not. It’s a safety net so that people don’t work all their lives then forced to survive on dog food in their old age if they didn’t save enough or medical bills puts them into bankruptcy. It’s all well and good for Ken and Ben to not need social security. They can donate their checks to a worthy cause if the system is not deconstructed when they retire. But they don’t speak for millions who’ve invested (involuntarily) into SS for decades and want their money back - plus interest earned.
I have never understood how people could be opposed to Social Security, or want to end it comoletely. To end Social Security is to condemn others to indigency in their old age. It is so very unkind.
Neither Colman nor Shapiro know what they’re talking about.
To say that people are more likely to die the further they get out from retirement is to say that people are more likely to die as they get older. It’s not retirement that drives that, it’s getting older.
Same for cognitive decline, overall health.
Work, can keep you mentally sharp, but so could reading, playing golf, swimming, playing chess, etc.
exactly
I agree with Shapiro. I love my job and don't want to retire.
Another young guy that thinks he knows what retirees emotionally need. I'm retired with no need to have meaning. I enjoy doing nothing if I choose, definitely no need for work or fulfillment. He's read too many books. There is no need for a focus to enjoy having free time to do nothing or something pending on our feelings.
Absolutely true, Ken is just as wrong as Shapiro about retirement. I need no 'purpose' to enjoy my days of freedom. Maybe play golf, maybe sleep in, maybe nap the day away, maybe watch TV, maybe go to a movie. I love 100% of my retirement with no need of 'purpose.' Run from the 'experts' like Coleman.
I'm 47. I've been working since I was 14. If I could retire tomorrow, I would do it in a heartbeat. There's nothing more disgusting than watching career politicians constantly voting themselves pay raises then tell pushing back the retirement age. It just goes to show everyone that a politician always puts themselves first and you last.
The key is to keep active
I think Ken got the balance right here. Good job, Ken.
I do not care much for Shapiro. But hes right on this one. If your identity revolves around work, you need to reevaluate yourself.
I agree 💯
Tell that to the politicians. 😏
If work is your identity, you really need some SERIOUS counseling!
He says it all here “and they lose their purpose in life by leaving their job”
Not everyone’s purpose in life is their job, Ben. Ben has sorta been losing his mind lately.
43 been retired 2.5 years it’s awesome.
Not in your shoes, but during my half year finding a new job I never ran out of things to do, never felt isolated. In general my work is a thing I do, not my life, and retirement would not change that.
Lately? Ben's been a clickbait machine spewing nonsense for a decade at this point...
I"m 71 and I've been retired for 30+ years. I wouldn't give up my (clear) 50k per year pension and medical insurance and go back to work for a dime less than 150k per year (after tax)
Thinking that my individual meaning and purpose come from where I make a paycheck is shallow. My meaning and purpose is more than being a wheel in a cog.