My dad retired in 1986 at the age of 53 with a $900/mo pension and very little savings. He hated his factory job and couldn’t wait to retire. He repaired lawn mowers and sold garden plants and vegetables for years. He died 4 months after mom at age 81 and they had managed to save $60,000 living frugally. They were happy and didn’t need a new car or fancy things. He never regretted retiring early.
My father retired @55 from the National Guard. We are three and he was able to provide to the family of 5 until we left the home. We went to college, he got us a car to each of us. Now I think about it and really don't know how he did it.
A year ago I was diagnosed with pre-diabetes at 61 years old. I was obese and a heavy drinker. Since then, I’ve been on a meat only Carnivore diet and lost 85 lbs and blood pressure is normal again and pre-diabetes totally reversed. Stopped drinking alcohol, inflammation gone, and feel better than I have in decades. Take care of your health so you can enjoy that social security as long as you can. Thanks for the videos, Tim.
Same! I’m also a Carnivore for 1 yr. Lost weight though I was never really heavy I’m more toned, my skin looks youthful for 50 and helps with arthritis pain 😃
Awesome job on the weight loss and health improvements. Wife and i discovered the carnivore diet in June 2022. I lost 75lbs in three months and I was a type two diabetic on two diabetes drugs which were not controlling my sugar very well. My A1C dropped from 8.9 to 5.3 and my labs have never been better. Snoring and apnea improved as well. I’ve had horrible knees my entire life and I’m 62 now and could barely walk a half mile unless i loaded up on ibuprofen and Tylenol. Buddy of mine got me on a collagen product and along with the weight loss my knee pain disappeared and can now walk without pain. So many benefits with the carnivore diet. I encourage anyone to try it. Go watch people on TH-cam like Dr Ken Berry and others and follow their advice. You won’t be disappointed.
Spot on Tim. NPR released a report in March 2023 titled “'Live free and die?' The sad state of U.S. life expectancy”. It is heartbreaking that the U.S. life expectancy is dropping significantly compared to other developed countries. Our government officials choose to ignore this tragedy. More reason to get Social Security at 62!
Couple of factors why people don’t take it at 62. They don’t have enough saved to take it early. They are worried about healthcare cost at the age of 62. You have 3 years of insurance cost that could be more than you are paying now. Might wait later to take it so they don’t have to work at all. People love their jobs. A lot of factors. Everyone is different and have different circumstances. Do what’s right for you. Keep track of all your expenses. Figure out what you can live on per month. When you have that figured out the process might be easier?
@@jpmiller99 - Exactly. $1,500 per month is not enough to get by. Even 2 people making $1,500 is not enough to survive these days. Many folks watching this channel are clueless. And monthly income is one thing, but without assets and savings how are you going to pay for the big things when they need replacing - cars, roofs, A/C, appliances, water heaters, flooring. Then there is sudden health issues, new medications, your grown kids implode, and on and on it goes. Hell, I know people who have to come up with thousands because of an emergency vet bill for their pet. Where is that money coming from?
Not sure if people know this… the Affordable Care Act does not calculate your insurance premium credits based on assets…only income. So lets say you have a 2 million net worth, retire early, take your SS, and some money from your assets saved, you bring home 50K per year. In my state with that income, they consider me broke, so I qualify for $1200 a month premium offset, my insurance goes from $1450 per month to $250. I’ll retire early take 50K a year in income until I get Medicare…problem solved.
This is correct - many people shy away for fear of medical insurance premiums before they are Medicare-eligible. The other big factor is personal debt - if you have no personal debt and $50k in annual income with ACA subsidies life can be pretty comfortable. It requires thinking beyond what we were "taught". I elected a high-deductible zero-premium option from Cigna - I view it as "catastrophic" coverage which was the original intent of insurance in the first place. Don't let health insurance dictate when you can "retire" - I'll be 60 in October FYI.
100%! My husband (56) and I (57) are not on any medications and work hard to keep it that way. We keep up with our annual checkups, but don't go to the doctor much otherwise (yes, we know that we are blessed to be healthy and anything can change). I mostly do our cooking and we don't eat out much. Honestly, it has gotten expensive to eat like we do, but I still feel it's well worth it. Haven't had soda since I was in my 30's. We drink water with our meals and enjoy our coffee in the am. The side effects of most of those drug ads sound so much worse than what the issue is. We are working hard to stay healthy and hope and pray we stay that way. The thing that gets me boiling mad is that ingredients banned in other countries are in all of our food in the US. You really have to be vigilant and take control of what you consume.
@@drizzt8965 Mainly the Mediterranean diet. Chicken, salmon, etc. We don't eat red meat. We do use ground turkey. I just cook with a lot of fresh ingredients and organic when possible.
Unfortunately Tim I can’t live off SSI and don’t want to downsize to a trailer and I bet a lot of your other viewers are the Same it will be interesting on how long you stay in your trailer ???? Good luck and safe travels
I’m a truck driver 34 years now. I’m getting my UPS pension now. At 61. In 10 months I’m going to retire at 62. I will do something else part time. 👍🏻. Thanks Tim !!!
Keep getting the message out there Tim! When I was 38 my dad was diagnosed with lung cancer, he passed away ONLY 3 YEARS AWAY FROM RETIREMENT. Please folks, don't take it lightly, it's not about the money...but having a chance to live on your own terms, even if it isn't the exact way you visioned it.
Tim, I'll check back with you when you're 67, and no one will hire you for any job, if you can even do anything at that point. I'll be 62 this September, and am struggling with this though.
I'm almost 73 and your comment about no one will hire you for any job really insulted me. Wow!! My farm work, 3 horses and chickens will greatly disagree with you. I'm in better shape than a LOT of 30 year olds. No need for you to be So Rude!
I took my SS at 65 one year before full pay out for me at 66. It was a good move for me I am 74 now. The time goes quickly. Stay as fit as you can including weight training. These are enjoyable videos Tim.
Hi Tim, new to your channel and I enjoy your common sense approach to your topics. I was forced to retire due to Pandemic job loss and need for income. I struggled with that decision for several months but now I feel it was a blessing . You are right on point, take your early retirement and if in good health do some gig jobs. Thanks for sharing your thoughts and remember that you are the only one keeping score. A valuable lesson I learned a long time ago.
First-time viewer. Someone on another channel mentioned your name so I thought I'd check you out. Honestly, I don't know what to think based on this one video. You seemed a bit angry at something or someone. I don't know if you're always like this. But, I'm 62 and still working. Health insurance is a major factor that's holding me back from retirement. My wife takes a biologic medication for her condition at over 100k per year, and ACA plans won't cover it either.
Hi Tim! I'm the average person and I will be collecting at 62 and live my freedom and enjoy life while I still have my strength. Too bad I can't give this more than 1 thumbs up.
Sarasota Tim, love your comments here, am turning 62 in January 2024! Yes, have seen too many good people die young, yes even dieing at 62! Lost my cousin at 62 for returning CANCER, another cousin’s spouse died from heart attack, my neighbor died from morbid obesity in early 50’s, so YES, you may die in your 60’s, get it while you can and are alive!! You’re a cutie!! Handsome guy! Tammy’s a pretty lady!! Much love, Lovely Liz 😊
My boyfriend is 65 and diabetic insulin dependent. About 6 months ago he quit taking all his meds because he felt like crap. He feels better now, but I try to keep us on a carnavoir diet, very little plant based foods. I'll be 63 in January and still working. I'm too scared to retire. He is very good to me, but my deceased husband wasn't. I don't want to be dependent on anyone but myself. I have no health issues, no medications except vitamins.
Hello Tim. I started following your channel after I retired at 62 and started collecting social security. I also have a pension. When I retired. I felt this freedom that resulted in the freedom from “the system of earning.” Thank you for putting yourself out there to encourage those who are considering early retirement and collecting social security at 62 years of age. It is the viewers responsibility to fact check what you say and discern what is of value. You are speaking from the perspective of someone who has semi-retired and is collecting social security. So you are a living example of reality of someone who can translate confidence for those who are on the border of retirement and letting go of the traditional 80 hour work system. I decided after two months after retirement to start my own side hustle in seasonal part time work. I am amazed how generous and the display of human kindness with those I have been able to serve in my side hustle. Your critics can talk about the numbers associated with money, but they can not experience the life and creativeness of those who have retired or semi-retired at an earlier age than their full retirement age or beyond. Retirement or collecting social security at 62 is not a moral issue of right versus wrong. It is a personal decision of each to understand when it is their time to enter the life that is different. Your channel encourages people to take a look at this possibility. Take care Tim, from San Antonio, Texas.
You make a good case for avoiding unnecessary doctors visits and keeping your health up, however you should also understand that being a distracted driver while talking on the phone is a leading cause of traffic accidents,
Not all jobs are prisons i enjoyed my job and waited til 66 for my ss so i could finish paying off my house. Now i play golf twice a week no side hustles and save $1200. A month for any emergencies or repairs 70yrs young
Your right not all jobs are prison jobs, but a good 75% of jobs can be classified as prison jobs. But, the main reason to take Social Security at before 70 years old or FRA is because NO one is guaranteed tomorrow!!!
I absolutely love your spirit, Tim! You keep doing what you’re doing and forget the naysayers because they don’t know you and don’t live your life…well maybe a little because of TH-cam lol, but regardless, you keep Crushing it!
When are you people going to learn? That's what the internet was invented for. People to talk crap and give each other their useless opinions. Hahaha 😂😂😂
Hey Tim, I just got done crushing the Callaway golf ball down the middle shot 81 in 109 degrees an now I just tuned into you tube to here my man Tim to see what's going on in Florida but listening to you as always you are crushing it on this great Friday ! Keep crushing it. You and Tammy have Blessed weekend 🙏
Great stuff Tim! Retired military myself, got my pensions /just got my SSA now at 62. I live in Phuket Thailand which allows me to travel all over Southeast Asia. Living My Best Life! Remember Tommorrw is not promised! Live your life now! Ditch the TV! Heading to Cambodia another traveling adventure 🔱🐸🌍
So I’m a manager and make a great paycheck but I feel like my life is going by and I’m missing out on just simply healing from working for 45 years or so. I started working at 15. I have 3 kids and only got to take 6 weeks off with each child. That was the only long stretch of time I’ve had off. I’ll be 62 next month. I cant work part time in my field and will cut my income by 75 percent if I quit and take another part tome job. And insurance is an issue. My brother just died at 62 and he was planning on retiring at 62. I really need to soul search and decide. It’s on my mind every day.
Another channel that I watch that may be of interest to you is "Heritage wealth planning" to help convince yourself that leaving your career is the thing to do. He is a financial planner but isn't really trying to sell you anything on his channel...he just makes the case in various ways that "early" retirement is within the grasp of many who don't even realize it. But a warning...he often talks politics at the beginning of a video...and if you are of a different mind politically you may have a hard time watching his vids. On the insurance front I really encourage you to investigate how the Affordable Care Act (Obamacare) works in your state. In many states the cost that you pay for health insurance through Obamacare is entirely based on your taxable income. You can literally have millions of dollars of assets in 401k's and other investment accounts but if you have post tax assets to live on and your "taxable income" is modest you may pay just a couple hundred dollars a month for insurance depending on your situation and the plan you choose.
Yup, stopped the video again at 10:29. Here's what Ive been seeing, about alot of the older workers from the mid 90s I used to work with; As things actually turned out, although they would talk about waiting for Retirement, well, as things pretty much worked out: Most of Them.., really had nothing important to do. They went home, watched television, and before I knew it, We'd get word, that they had passed; typically from, say A Heart Attack, some from A Stroke, some died from Cancer, Some developed Dementia, then Alzheimer's..Yup, that's what actually happened to all of them. The New Rule: Know, that you're pretty much going to be on your own , the closer and after Retirement. Because Most I knew, led sedentary lives... **The lack of proper Circulation and poor heart health, typically did them in. So instead, because I simply walk on the treadmill for Health, my Doctors hate my big butt, because my blood pressure is typically, about 128 over 82, lol. 'They just look at Me, wondering how a Fat Man can be so heart healthy... I just smile..😂😂😂😂😂😂😊😊
Well said Tim, “At 62 you are not young”. I do not regret taking SS at 62, I regret how much I pay for health insurance which went up 18 percent this year. Health insurance inflation is very high.
Tim, you really got me thinking a few videos back. Your astute observation that there's a lot less runway in front of us than behind struck a chord big time! Thanks for your folksy wisdom and good humor. Now what about when (Heaven forbid) a big medical emergency $$$ How do you plan for that scenario? Blessings to you and Miss Tammy
Hi Tim. I recently found your channel. And yes its been growing rapidly! I will be 63 in a few months, working like a gazelle to pay of my debt. My 2016 car will be pay off next month which I am planning on keeping as long as I can. Next is my house which I am paying next and is about one year to finish it. I have a good job that I like and pays good. I am considering working here part time or as a contractor...maybe. The most important detail to retire @62 is NO DEBT! Period. If I had all pay off @62 I was definitely retired by now. Forgot to mention is a single income, so I have to crush it all by myself!!
I'm planning to retire at 62 and am working now to get out of debt, pay off my home, my car and do my home repairs/upgrades (doing most of the work myself). I have a 5 year plan and am keeping that in mind daily. I won't have a lot of money in retirement fund as I took years off of working to care for a disabled parent. The years of doing that left me financially, physically and emotionally drained - but it was the right thing to do. I had planned to work until I was 70 to have 20 years in at USPS - not going to happen. I see too many who are not much older than me who've worked for 25 - 30+ years there and their bodies and spirits are so broken down. Quite a few in my sort facility passed away at the beginning of the pandemic and never got to enjoy retirement. One of them was my union steward. He had over 35 years and could have been retired with a great pension and social security and been out enjoying life and time with family instead of giving it all to the J.O.B.. I had once asked him why he wasn't retired. He said he loved the paycheck too much (lots of overtime). I said there has to be more to life than money. It was just a few months later that he and his wife both got covid and were hospitalized. She made it out and he died. I decided then I would not work until 70 and retire at 62 regardless. (I also got very sick from covid and missed months of work - it changed my perspective) I have changed how I eat (mostly whole, real foods - low carb), reversed my type 2 diabetes, lost some weight, lowered my BP, got off 5 prescription meds as I improved my health, doing the mental work to have positive goals and avoid the negativity all around me. I refuse to entertain gossip, griping and focus on gratitude instead. It takes daily work to focus my mind but it's helped me lower anxiety and take action toward my goals. It's not ridiculous to want to enjoy life. I still plan to work part time doing something I enjoy. With everything paid off and my home and ME in good shape I won't require a lot of extra money. The social security and small amount from my retirement fund (which will cover my insurance I can take with me until Medicare, plus taxes, etc), my thrift savings plan which I'm throwing more money into each year and as I pay off debt I'll be good even by myself. I took care of both parents in their elder years, through debilitating sickness and one through terminal illness. My mom died in her early 70's. She had retired and then gone back to school for a second career as a nurse. She ended that career when my dad was left disabled from a massive stroke he never recovered from. They didn't have many years to enjoy retirement together. We aren't guaranteed a certain number of years or a certain number of healthy years. I do believe the government counts on many waiting to take social security and never getting the chance because they die first. Check out life expectancy rates - they are declining! Keep sharing Tim - there's another way!
I’ve started implementing my PRE retirement plan. I bought a house for cash, I’m tucking away money(I don’t have a 401K) I’m slowly getting rid of items I don’t use/need. I paid off my car. I don’t have debt. So by the time I’m 62(I’m 55 now) I should be ok. I only work part time now and I’ve been able to make it. Plus I had kids later in life so I also have 2 teenagers in the house. I truly believe I’m ok cuz I do not have debt. It’s the debt trap and living above your means that gets people in trouble.
I think SS should kick in at 60 at the minimum, and Medicare at 62 or 60. People need to be able to enjoy at that age, not work their butts off and be drained from work. Who cares if someone lives in a camper/trailer. When I retire I can live in a camper and no need for others to know how much $$ I really have.
Sorry, it is actually going the other way. 62 used to be the retirement age now it is 67 and 4 months (?) and it is expected to rise again for those born after 1963 or 1964. When it was 62, life expectancy was around 65-67 and so folks were not expected to collect for long. So as life expectancy goes up, the age of retirement will too. That is part of the reason that the FIRE movement is so "hot" (pun intended). Edit: Poor spelling
I'm a 62er! I left the workforce at 60. Living off of two retirements. They're not real big retirements, but manageable with no debt. Getting SS when you get your medicare, ST. I'm learning to live on less, walk daily, cook from home, and maybe get a side hustle. Enjoying life one day at a time cause, Like Hall & Oates says, "I Can't Go For That, No Can Do," about working 40 hours at a tough job!!!!
Hey Tim, I have a question about working the side hustle… what do you do when you are physically unable to do that side hustle but you need that little of extra money? I really hope that you can answer this question to me because I really enjoy listening to you and I would like to be more like you and get my money as soon as possible and get myself back into shape into shape and stop to smell the roses!
Get ask all the time. When you can’t pour some wine in a glass (speaking facetiously) then you need to go into a home or just sit in a chair I guess. I don’t think or worry about such silly things like I can’t walk down the road or work or drive. What would anyone do, that becomes like that? It’s the old people’s home I guess. They’re on every corner down here in Florida. They except you SS check and in you go. 😎
Thank you for your response Tim. You’re doing a great job. I enjoy listening to you and keep up the good work next time I’m down in Florida I’ll be coming to ship some wine or get a cracker and cheese from you - lol and by the way, Tammy is a keeper for you!
You don't have to continue working for your social security payments to go up. It's a guaranteed 8% per year + cola raise. People are living longer. If you die early o well your dead can't complain. But if you live to 90 or 100. With everything going up and inflation. You might wish you had that 1500 dollars more per month. From 62 to 70 you should be doing roth conversions. To keep your rmd's low so you can stay in a lower tax bracket So much more I can say but you get the point.
I'm 57 and talk to my father who lives in a town north of you. Im watching you and others on retirement. I would love to speak with you . Your experience is valuable. Respect to you. Keep making that money. I'm looking to do rv living myself.
Took mine at 67 4 months, wife getting half of mine, we both have small pensions on top of SS, we don't have to work, making $250/mo more than when we were working. Have fun being tied to a part-time job to make ends meet. By the way, putting $1,500/mo in savings.
Please no disrespect intended here…saving for what? If your goal is to die the richest man on the block, congratulations. Everyone is different, if that’s what makes you comfortable, god speed.
My goal is to have the finances to help others, I cannot do that working odd jobs, bought a foreclosed TH during the 2008 crash for 40% off, will buy any of my neighbor's houses during the next crash so they can stay in their homes. My father grew up very poor and instilled a good work ethic in me and the desire to help others out of poverty.
@@TrailstoSailsnot to be negative- why save money now? Obviously live within your means but why save ? You could be enjoying life - traveling. Dining out. Visiting w family etc etc.
I agree. It's 5 years of freedom and fun while you are still relatively young. To me that is worth ✨️ much more than an extra $700 a month in my later years. I took mine early but honestly it was a no brainer for me due to life expectancy. 🙃
Tim, you are scaring me when you don't have at least one hand on the wheel. You may be steering with your knees, but if some knucklehead does a bozo move or a bump in the road, if you need to react quickly, it may be less effective and lead to a catastrophe. We need you around for a long time.
Yes ! I was going to comment about this before, but didn't , it angered me. Not only is it very dangerous, it is illegal. I have seen lots of other people doing this also ! I pretty much quite watching Tim because of that.
Would love it if you talk about stretching that monthly payment to cover rent etc. how much rent do you pay to live in your camper? I’m trying to get ideas how I’ll be able to survive on my own on social security and the few bucks I have saved. I have a little camper and am not apposed at all to going that route. But it is tough to manage as a single woman. anyway great content!
Knowledge is knowledge and experience is experience. I saw that comment. Unfortunately, a lot of people judge others by what they own. Especially the younger people. They’ll learn. Some of the wealthiest people I know have little to no integrity or common sense. There’s really no causal relationship between those and one’s material possessions.
That’s right, knowledge is knowledge because you’ve lived, experienced life at its finest. So much healthier to take SS at 62 & down size, heal, side hustle & start to enjoy! 💛 Keep on Crushin! 👏🏻⭐️👊🏻
I call it.enjoying life. you are living reasonable. I have no desire to live in a big house.with a big house payment.or a fancy car .you and Tammy are living your life.🌈🌻
For anyone that hates their job, I can't really argue with your advice for people that have saved very little and do not have 401k's and IRA's, I would guess that they they probably don't have a choice and need to collect SS whether they are healthy or not. But, for those who hate their jobs and do have money in a 401k or IRA, they would be better off at 59 1/2, withdrawing what they would get from SS from the 401k/IRA and delay the SS as long as they can take that amount from the 401k/IRA. The reasoning being that the investments aren't guaranteed to grow but the delay increase is guaranteed.
@@alphamale2363 Very true, another upside though if you have a ton of money in those accounts is tackling the tax time bomb that a lot of people don't talk about with deferred accounts. I did a 20 year projection on my own accounts and it was eye opening. For me, it's going to be about converting non-taxed investments to taxable investments at a rate fast enough to avoid being forced into the highest tax bracket eventually.
My thought is, it's okay for folks to disagree with you, me or anybody else that comments here. At least they are "thinking" about all of what goes into this idea of retiring. That's half the battle, just getting people to think about how it all works for them as an individual. Tim, you are a minimalist. Great, if that works for you. I'm sure you can respect that I am not. I have a full woodworking shop as well as other hobbies. This all works for "me". Even if a person does not have a part time "paying" job in retirement, we still need to stay active. I'm a volunteer for the Missouri Dept of Conservation. It's fun, worthwhile, gets me outdoors among like minded folks. You gotta get up off your duff and keep moving ! Keep the content coming brother !
My mom passed away in '97 at age 63. I'm older now than my mom was when she passed! Fortunately, I DO have one of the BEST functional physicians in our county. He's more into nutritional changes before prescription meds and he LISTENS to ME if/when I have to go in for anything.
Working out is also good for your tendons, joints, and bones. And you don’t have to lift heavy weights. Even if you can’t walk just lift some light weights. Crush it! 💪
I have been at my job for 33 years. Hard to believe, but I have always been working for CEO's and they have all been so nice. The reason I stay is because I really like it. Also, they let me off whenever I want so I have already seen all my bucket list items, which I keep adding to. I also live in Hawaii so there's that. I guess I have been brainwashed as well because I am 66 and will take my SS in a few months. Until your channel, I never thought about taking it early. Believe me, if I didn't like my job or wasn't able to take care of my health as I do, I would leave. I would also leave if I couldn't take vacations when I wanted. I am afraid that I am not very disciplined without having structure to my day.
The best part of your advice is to help focus people on the possibilities. A rut is a grave with the ends knocked out. I love my job and will retire at 65. However, if the worm turns, I’ll punch out earlier.
Give me my check while I am living, walking, talking and coherent to enjoy my family while I can. That money does me no good laying in a nursing home eating broth and wearing a diaper. Do you other people understand this?
You always get a thumbs up......😋 The number of children dying has decreased over time and this alone would increase the average life span. I'm not getting SSA at 62. No reason to get SSA until my husband retires. When we both retire WE WILL CRUSH IT. If only one makes it then someone will crush it....no regrets.
I love listening to Hall and Oates too.....Las Vegas Turnaround. My wife and I , retired in mid-sixties, collect SS, pension, and both work part time jobs 12-15 hours a week. Jobs are no stress and we actually like working a bit every week. Exercising and eating healthier has been our priorities since we retired. We are much healthier physically and mentally. When we hang up work for good, we plan to slowly withdraw from IRAs and 401Ks. Thanks Tim, we enjoy watching your videos after our morning swim and walk.
I took my SS last year when I hit 62 but I kept working. I work full time but it's only 3 days a week (3-12 hr shifts) and I'm off 4 days. It's almost like I'm semi retired. I defer 1/2 my income to a 457B to keep under the income limit and they have a decent insurance plan that's not too expensive so I'm going to keep working for a while longer besides, my mother-in-law lives with us so our travel plans are very limited right now.
I think it is funny when someone who started collecting at 62 and is now 67 and says "I regret taking it at 62". That is like asking someone who bought a lottery ticket and lost if they regret buying it. Of course they regret it AFTER the fact. But had they won the lottery or died at 66 they would feel differently.
It's a gamble either way really. For us, I'm happy you didn't have this channel when I was 62. I may have taken it at 62 and been sorry......maybe. Who knows their longevity. Mom passed at 67, dad still going strong at 89. You rock though Tim!! If you're not married to Miss Tammy already, what the heck are you waiting for...
Spot On! I was always listening to Fox News and was getting fired up. Our country is so bad right now. But now I stopped dwelling on that. Hitting the gym, walking a good 10K steps a day, listening to music from my younger days and enjoying all your videos. I appreciate you Tim because you show us how to CRUSH IT! By the way you need to look into getting some merchandise made with the CRUSH IT! logo 😎
@Sarasota Tim … I’ll get philosophical for a moment. You’ve really found something here on this platform. I value what you have to say, and I think you touch lives. At the least, you make us think about our finances, our savings, and our lifestyles. The important part is living your best life, which seems to be what you’re doing. Cheers, Tim!
Remember, though NO one is guaranteed tomorrow! I have had plenty of Classmates, co workers, Relatives, etc...., pass on before their time. Some were even in great shape!!
Wow Tim you are wound up today lol I believe everyone’s situation is different some people need to work until their 67 for whatever reason that is me myself I can’t wait until I’m 62 I’m with you I have been paying in my whole life why not take the benefits when their available ya no if it’s even around when I turn 62 still have 14 years 😂😂😂😂
New to the channel! Loving it. Quick question to the monthly deposits from SS...2 types ? One monthly amount and also once a week extra? Not understanding but could you reiterate? Thanks!
I’m 60,still don’t know when to retire. But when I do,, I want to be living in my 5x8 cargo trailer and staying my azz parked in the town I live in. And hopefully be able to do part time work for the the people I currently work for. I have friends in the Philippines I want to spend more than 1 week with. I can’t wait and I’ve already started setting up. Life is great
What are the percentages of people who truly love their job ? Maybe 25% and for those they should work till their hearts content but for the other 75% I would suggest getting out as early as reasonably doable , get your 35 years of qualifying working years and hopefully you have put yourself in a position to hang it up . I retired this year at 60 with no college education married and raised one child and did our best to still live a life but saved and invested along the way . Loving every minute of it ..
Tim, it’s too late for me to retire at 62. Everyone is in a different situation. I’m on SSDI right now, plus disability from work. I have a pension that I haven’t even tapped into yet. But you have a lot more helpful information in addition to. I’ve had replacement parts from knees, hip, spine, ankle. I get what you’re saying.
collecting SS at 62 ws good. Now on the flip side. Husband passes, trying to collect from SS death benefits. They took 3/4 of his SS, they gave me enough just on the poverty level. At 78 now have to go back to work or rent out part of my house!
Here goes. I’ll see if you read/respond. I’m 65.5 and semi-retired. I spent 30+ years in a law enforcement career; now still working in private security, (it may keep going?), but I’m planning on taking SS this year when I turn 66 [fra is 66.6] so am I stupid or crazy?
Neither you can’t go back in time and you’re going to draw asap now so do it. Maybe you didn’t know the information that’s been discussed back when you were 62. So good luck now enjoy your life. 😎 #SupporttheBlue
I'm 67 and took Social Security at 62. I have never regretted it. I was a state employee for several years and have a small pension. With those two, my retirement income is enough. Social Security is a hot political issue, but I feel the politicians will do away with it, or greatly reduce it, in the coming years. The three biggest expenses of the Federal government are Social Security, Medicare, and the Defense Department. You paid it in all these years. Get it before it's gone!
Wrong. It's not "politicians" who will mess with Social Security, reduce, get rid of it, whatever, it's REPUBLICAN politicians who have said that is what they WILL do. Let's be clear about this. There is not a single Democratic member of Congress who has EVER suggested any such thing. Remember this when you vote in 2024. Same goes for Medicare. You can thank FDR and LBJ, by the way.
I’m torn !! My employer is downsizing therefore offering the older folks a severance buy-out. So much per year plus pension contribution.. insurance will extend 26 weeks. … it’d be nice to be “free” .. but what about my years of 63 thru 65 ? I can’t see s clear path at all.
My dad retired in 1986 at the age of 53 with a $900/mo pension and very little savings. He hated his factory job and couldn’t wait to retire. He repaired lawn mowers and sold garden plants and vegetables for years. He died 4 months after mom at age 81 and they had managed to save $60,000 living frugally. They were happy and didn’t need a new car or fancy things. He never regretted retiring early.
So glad he had a long happy retirement with your mom. People married that long usually die with months of each other.🪦
@@davisholman8149 Absolutely. Thank you
My father retired @55 from the National Guard. We are three and he was able to provide to the family of 5 until we left the home. We went to college, he got us a car to each of us. Now I think about it and really don't know how he did it.
Love to hear these kinds of stories 😊
God bless🙏👍🇺🇸
A year ago I was diagnosed with pre-diabetes at 61 years old. I was obese and a heavy drinker. Since then, I’ve been on a meat only Carnivore diet and lost 85 lbs and blood pressure is normal again and pre-diabetes totally reversed. Stopped drinking alcohol, inflammation gone, and feel better than I have in decades. Take care of your health so you can enjoy that social security as long as you can. Thanks for the videos, Tim.
That’s awesome health is wealth.
Same! I’m also a Carnivore for 1 yr. Lost weight though I was never really heavy I’m more toned, my skin looks youthful for 50 and helps with arthritis pain 😃
Awesome job on the weight loss and health improvements. Wife and i discovered the carnivore diet in June 2022. I lost 75lbs in three months and I was a type two diabetic on two diabetes drugs which were not controlling my sugar very well. My A1C dropped from 8.9 to 5.3 and my labs have never been better. Snoring and apnea improved as well. I’ve had horrible knees my entire life and I’m 62 now and could barely walk a half mile unless i loaded up on ibuprofen and Tylenol. Buddy of mine got me on a collagen product and along with the weight loss my knee pain disappeared and can now walk without pain. So many benefits with the carnivore diet. I encourage anyone to try it. Go watch people on TH-cam like Dr Ken Berry and others and follow their advice. You won’t be disappointed.
Fantastic. Great to hear how you successfully tackled your health challenges. Good information. Thanks for sharing!
Spot on Tim. NPR released a report in March 2023 titled “'Live free and die?' The sad state of U.S. life expectancy”. It is heartbreaking that the U.S. life expectancy is dropping significantly compared to other developed countries. Our government officials choose to ignore this tragedy. More reason to get Social Security at 62!
I appreciate your channel and your perspective. I'm right there with you!
So happy I found your channel. Thanks for the info. I’m 56 now and looking at doing this in 6 years.
Whether you take SS at 62, 67 or 70, it doesn’t really matter. Everyone’s situation is unique.
That is so true
Couple of factors why people don’t take it at 62. They don’t have enough saved to take it early. They are worried about healthcare cost at the age of 62. You have 3 years of insurance cost that could be more than you are paying now. Might wait later to take it so they don’t have to work at all. People love their jobs. A lot of factors. Everyone is different and have different circumstances. Do what’s right for you. Keep track of all your expenses. Figure out what you can live on per month. When you have that figured out the process might be easier?
@@jpmiller99… assets?… you only need to adjust your living expenses.
Stop spending on crap.
@@jpmiller99 - Exactly. $1,500 per month is not enough to get by. Even 2 people making $1,500 is not enough to survive these days. Many folks watching this channel are clueless. And monthly income is one thing, but without assets and savings how are you going to pay for the big things when they need replacing - cars, roofs, A/C, appliances, water heaters, flooring. Then there is sudden health issues, new medications, your grown kids implode, and on and on it goes. Hell, I know people who have to come up with thousands because of an emergency vet bill for their pet. Where is that money coming from?
@@craigdolbey7770what works for some doesn't always work for others.
Also you can get Medicaid if your income is below a certain level at 62.
@@MyPronounIsGoddesslol it gets worse. Wait until you hit 65. Medicare and a supplement/gap plan will run you over $500/mo. Welcome to old age
Not sure if people know this… the Affordable Care Act does not calculate your insurance premium credits based on assets…only income. So lets say you have a 2 million net worth, retire early, take your SS, and some money from your assets saved, you bring home 50K per year. In my state with that income, they consider me broke, so I qualify for $1200 a month premium offset, my insurance goes from $1450 per month to $250. I’ll retire early take 50K a year in income until I get Medicare…problem solved.
This is correct - many people shy away for fear of medical insurance premiums before they are Medicare-eligible. The other big factor is personal debt - if you have no personal debt and $50k in annual income with ACA subsidies life can be pretty comfortable. It requires thinking beyond what we were "taught". I elected a high-deductible zero-premium option from Cigna - I view it as "catastrophic" coverage which was the original intent of insurance in the first place. Don't let health insurance dictate when you can "retire" - I'll be 60 in October FYI.
Tim. i agree i’m a nurse and work in longterm care it’s a disgrace the amount of medications these elderly people are on. poly pharmacy. it’s wrong.
I'm an RN, just got out of LTC, the residents were getting younger and younger, too close to my age LOL I just turned 60.
I’m retiring at the end of the year at 62. Now that I’ve made the decision and told my employer I can’t wait, seems like time is going very slow
100%! My husband (56) and I (57) are not on any medications and work hard to keep it that way. We keep up with our annual checkups, but don't go to the doctor much otherwise (yes, we know that we are blessed to be healthy and anything can change). I mostly do our cooking and we don't eat out much. Honestly, it has gotten expensive to eat like we do, but I still feel it's well worth it. Haven't had soda since I was in my 30's. We drink water with our meals and enjoy our coffee in the am. The side effects of most of those drug ads sound so much worse than what the issue is. We are working hard to stay healthy and hope and pray we stay that way. The thing that gets me boiling mad is that ingredients banned in other countries are in all of our food in the US. You really have to be vigilant and take control of what you consume.
What is your nutritional plan?
@@drizzt8965 Mainly the Mediterranean diet. Chicken, salmon, etc. We don't eat red meat. We do use ground turkey. I just cook with a lot of fresh ingredients and organic when possible.
@@askssk715 And you'll probably die before everyone else. 🤔
Yes you are blessed some think they are just not lazy like others who get sick but someday they will too.
Unfortunately Tim I can’t live off SSI and don’t want to downsize to a trailer and I bet a lot of your other viewers are the Same it will be interesting on how long you stay in your trailer ???? Good luck and safe travels
I’m a truck driver 34 years now. I’m getting my UPS pension now. At 61. In 10 months I’m going to retire at 62. I will do something else part time. 👍🏻. Thanks Tim !!!
i am 62 ang get my first payment next month. i'm not an idiot. love the channel.
Yippy! I'm not far behind you!!
Do you have any regrets yet for taking SS at 62? I will be 62 in August and was thinking about collecting. I wish you well!
You’re doing a great job with this channel Tim & Tammy! Thanks for all you do!
Spirited talk today. Loved it!
Keep getting the message out there Tim! When I was 38 my dad was diagnosed with lung cancer, he passed away ONLY 3 YEARS AWAY FROM RETIREMENT. Please folks, don't take it lightly, it's not about the money...but having a chance to live on your own terms, even if it isn't the exact way you visioned it.
had a friend .. cancer took her in like 3 months tops from diagnosis. terrible ...
Tim, I'll check back with you when you're 67, and no one will hire you for any job, if you can even do anything at that point.
I'll be 62 this September, and am struggling with this though.
I'm taking mine at 62 and have absolutely no regrets!
I'm almost 73 and your comment about no one will hire you for any job really insulted me. Wow!! My farm work, 3 horses and chickens will greatly disagree with you. I'm in better shape than a LOT of 30 year olds. No need for you to be So Rude!
I took my SS at 65 one year before full pay out for me at 66. It was a good move for me I am 74 now. The time goes quickly. Stay as fit as you can including weight training. These are enjoyable videos Tim.
Hi Tim, new to your channel and I enjoy your common sense approach to your topics. I was forced to retire due to Pandemic job loss and need for income. I struggled with that decision for several months but now I feel it was a blessing . You are right on point, take your early retirement and if in good health do some gig jobs. Thanks for sharing your thoughts and remember that you are the only one keeping score. A valuable lesson I learned a long time ago.
First-time viewer. Someone on another channel mentioned your name so I thought I'd check you out. Honestly, I don't know what to think based on this one video. You seemed a bit angry at something or someone. I don't know if you're always like this. But, I'm 62 and still working. Health insurance is a major factor that's holding me back from retirement. My wife takes a biologic medication for her condition at over 100k per year, and ACA plans won't cover it either.
Hi Tim! I'm the average person and I will be collecting at 62 and live my freedom and enjoy life while I still have my strength. Too bad I can't give this more than 1 thumbs up.
One more year I'll be collecting can't wait listening to you has helped
Sarasota Tim, love your comments here, am turning 62 in January 2024! Yes, have seen too many good people die young, yes even dieing at 62! Lost my cousin at 62 for returning CANCER, another cousin’s spouse died from heart attack, my neighbor died from morbid obesity in early 50’s, so YES, you may die in your 60’s, get it while you can and are alive!!
You’re a cutie!! Handsome guy! Tammy’s a pretty lady!!
Much love, Lovely Liz 😊
I watch because you are so upbeat and Miss Tammy is so sweet and you also help the kitties out 😌
My boyfriend is 65 and diabetic insulin dependent. About 6 months ago he quit taking all his meds because he felt like crap. He feels better now, but I try to keep us on a carnavoir diet, very little plant based foods. I'll be 63 in January and still working. I'm too scared to retire. He is very good to me, but my deceased husband wasn't. I don't want to be dependent on anyone but myself. I have no health issues, no medications except vitamins.
Hello Tim. I started following your channel after I retired at 62 and started collecting social security. I also have a pension. When I retired. I felt this freedom that resulted in the freedom from “the system of earning.” Thank you for putting yourself out there to encourage those who are considering early retirement and collecting social security at 62 years of age. It is the viewers responsibility to fact check what you say and discern what is of value. You are speaking from the perspective of someone who has semi-retired and is collecting social security. So you are a living example of reality of someone who can translate confidence for those who are on the border of retirement and letting go of the traditional 80 hour work system. I decided after two months after retirement to start my own side hustle in seasonal part time work. I am amazed how generous and the display of human kindness with those I have been able to serve in my side hustle. Your critics can talk about the numbers associated with money, but they can not experience the life and creativeness of those who have retired or semi-retired at an earlier age than their full retirement age or beyond. Retirement or collecting social security at 62 is not a moral issue of right versus wrong. It is a personal decision of each to understand when it is their time to enter the life that is different. Your channel encourages people to take a look at this possibility. Take care Tim, from San Antonio, Texas.
You make a good case for avoiding unnecessary doctors visits and keeping your health up, however you should also understand that being a distracted driver while talking on the phone is a leading cause of traffic accidents,
What I’m doing is no different than if you were in the passenger seat, and I was talking to you. No difference whatsoever. 😎
I claimed at 62 and I certainly don’t regret it. Social Security, along with my pension, leaves me comfortable financially.
@@MarcP5267 I have low overhead, so yes.
You are killing me! 😂😂😂 Hall & Oates forever!!
Hey Tim , Great rant ! I love these comments! We are in the position to retire early! We are completely debt free for the last 12 years
Not all jobs are prisons i enjoyed my job and waited til 66 for my ss so i could finish paying off my house. Now i play golf twice a week no side hustles and save $1200. A month for any emergencies or repairs 70yrs young
I always say in ALL the videos there’s only 1 reason not to collect SS at 62. 😎
Your right not all jobs are prison jobs, but a good 75% of jobs can be classified as prison jobs.
But, the main reason to take Social Security at before 70 years old or FRA is because NO one is guaranteed tomorrow!!!
I started collecting last year, and with no regrets, along with my pension, I'm blessed.
Along with your pension is the key. You are very blessed and I hope you continue to be so.
@@dpayne1943 Thank you
I absolutely love your spirit, Tim! You keep doing what you’re doing and forget the naysayers because they don’t know you and don’t live your life…well maybe a little because of TH-cam lol, but regardless, you keep Crushing it!
Thank you for the encouragement, supermom I certainly will! I hope you keep watching. 😎
When are you people going to learn? That's what the internet was invented for. People to talk crap and give each other their useless opinions. Hahaha 😂😂😂
Most definitely!
Hey Tim, I just got done crushing the Callaway golf ball down the middle shot 81 in 109 degrees an now I just tuned into you tube to here my man Tim to see what's going on in Florida but listening to you as always you are crushing it on this great Friday ! Keep crushing it. You and Tammy have Blessed weekend 🙏
Thanks!
🎉 don't came and went from Florida love your feed.. maybe next time but again thanks for getting me in the loop with Crossmark
Did
Great stuff Tim! Retired military myself, got my pensions /just got my SSA now at 62. I live in Phuket Thailand which allows me to travel all over Southeast Asia. Living My Best Life! Remember Tommorrw is not promised! Live your life now! Ditch the TV! Heading to Cambodia another traveling adventure 🔱🐸🌍
So I’m a manager and make a great paycheck but I feel like my life is going by and I’m missing out on just simply healing from working for 45 years or so. I started working at 15. I have 3 kids and only got to take 6 weeks off with each child. That was the only long stretch of time I’ve had off. I’ll be 62 next month. I cant work part time in my field and will cut my income by 75 percent if I quit and take another part tome job. And insurance is an issue. My brother just died at 62 and he was planning on retiring at 62. I really need to soul search and decide. It’s on my mind every day.
it’s time to reinvent yourself and enjoy your life
@@virginiahilman7786Agree. My sister died at 66 and was going to retire at 67. She met Jesus instead!!
Another channel that I watch that may be of interest to you is "Heritage wealth planning" to help convince yourself that leaving your career is the thing to do. He is a financial planner but isn't really trying to sell you anything on his channel...he just makes the case in various ways that "early" retirement is within the grasp of many who don't even realize it. But a warning...he often talks politics at the beginning of a video...and if you are of a different mind politically you may have a hard time watching his vids. On the insurance front I really encourage you to investigate how the Affordable Care Act (Obamacare) works in your state. In many states the cost that you pay for health insurance through Obamacare is entirely based on your taxable income. You can literally have millions of dollars of assets in 401k's and other investment accounts but if you have post tax assets to live on and your "taxable income" is modest you may pay just a couple hundred dollars a month for insurance depending on your situation and the plan you choose.
Yup, stopped the video again at 10:29. Here's what Ive been seeing, about alot of the older workers from the mid 90s I used to work with;
As things actually turned out, although they would talk about waiting for Retirement, well, as things pretty much worked out:
Most of Them.., really had nothing important to do. They went home, watched television, and before I knew it, We'd get word, that they had passed; typically from, say A Heart Attack, some from A Stroke, some died from Cancer, Some developed Dementia, then Alzheimer's..Yup, that's what actually happened to all of them.
The New Rule: Know, that you're pretty much going to be on your own , the closer and after Retirement. Because Most I knew, led sedentary lives...
**The lack of proper Circulation and poor heart health, typically did them in. So instead, because I simply walk on the treadmill for Health, my Doctors hate my big butt, because my blood pressure is typically, about 128 over 82, lol. 'They just look at Me, wondering how a Fat Man can be so heart healthy... I just smile..😂😂😂😂😂😂😊😊
Well said Tim, “At 62 you are not young”. I do not regret taking SS at 62, I regret how much I pay for health insurance which went up 18 percent this year. Health insurance inflation is very high.
Tim, you really got me thinking a few videos back. Your astute observation that there's a lot less runway in front of us than behind struck a chord big time! Thanks for your folksy wisdom and good humor.
Now what about when (Heaven forbid) a big medical emergency $$$ How do you plan for that scenario?
Blessings to you and Miss Tammy
I love the car rides. Every video is bubbling with energy.
Hi Tim. I recently found your channel. And yes its been growing rapidly! I will be 63 in a few months, working like a gazelle to pay of my debt. My 2016 car will be pay off next month which I am planning on keeping as long as I can. Next is my house which I am paying next and is about one year to finish it. I have a good job that I like and pays good. I am considering working here part time or as a contractor...maybe. The most important detail to retire @62 is NO DEBT! Period. If I had all pay off @62 I was definitely retired by now.
Forgot to mention is a single income, so I have to crush it all by myself!!
Renters can retire at 62 as well.
I'm planning to retire at 62 and am working now to get out of debt, pay off my home, my car and do my home repairs/upgrades (doing most of the work myself). I have a 5 year plan and am keeping that in mind daily. I won't have a lot of money in retirement fund as I took years off of working to care for a disabled parent. The years of doing that left me financially, physically and emotionally drained - but it was the right thing to do. I had planned to work until I was 70 to have 20 years in at USPS - not going to happen. I see too many who are not much older than me who've worked for 25 - 30+ years there and their bodies and spirits are so broken down. Quite a few in my sort facility passed away at the beginning of the pandemic and never got to enjoy retirement. One of them was my union steward. He had over 35 years and could have been retired with a great pension and social security and been out enjoying life and time with family instead of giving it all to the J.O.B.. I had once asked him why he wasn't retired. He said he loved the paycheck too much (lots of overtime). I said there has to be more to life than money. It was just a few months later that he and his wife both got covid and were hospitalized. She made it out and he died. I decided then I would not work until 70 and retire at 62 regardless. (I also got very sick from covid and missed months of work - it changed my perspective) I have changed how I eat (mostly whole, real foods - low carb), reversed my type 2 diabetes, lost some weight, lowered my BP, got off 5 prescription meds as I improved my health, doing the mental work to have positive goals and avoid the negativity all around me. I refuse to entertain gossip, griping and focus on gratitude instead. It takes daily work to focus my mind but it's helped me lower anxiety and take action toward my goals. It's not ridiculous to want to enjoy life. I still plan to work part time doing something I enjoy. With everything paid off and my home and ME in good shape I won't require a lot of extra money. The social security and small amount from my retirement fund (which will cover my insurance I can take with me until Medicare, plus taxes, etc), my thrift savings plan which I'm throwing more money into each year and as I pay off debt I'll be good even by myself. I took care of both parents in their elder years, through debilitating sickness and one through terminal illness. My mom died in her early 70's. She had retired and then gone back to school for a second career as a nurse. She ended that career when my dad was left disabled from a massive stroke he never recovered from. They didn't have many years to enjoy retirement together. We aren't guaranteed a certain number of years or a certain number of healthy years. I do believe the government counts on many waiting to take social security and never getting the chance because they die first. Check out life expectancy rates - they are declining! Keep sharing Tim - there's another way!
I’ve started implementing my PRE retirement plan. I bought a house for cash, I’m tucking away money(I don’t have a 401K) I’m slowly getting rid of items I don’t use/need. I paid off my car. I don’t have debt. So by the time I’m 62(I’m 55 now) I should be ok. I only work part time now and I’ve been able to make it. Plus I had kids later in life so I also have 2 teenagers in the house. I truly believe I’m ok cuz I do not have debt. It’s the debt trap and living above your means that gets people in trouble.
I'll be 62 end of August! I'm taking mine!
I will be 62 in August also and am trying to decide if I should take SS then. Did you decide to sign up yet?
I think SS should kick in at 60 at the minimum, and Medicare at 62 or 60. People need to be able to enjoy at that age, not work their butts off and be drained from work. Who cares if someone lives in a camper/trailer. When I retire I can live in a camper and no need for others to know how much $$ I really have.
Sorry, it is actually going the other way. 62 used to be the retirement age now it is 67 and 4 months (?) and it is expected to rise again for those born after 1963 or 1964. When it was 62, life expectancy was around 65-67 and so folks were not expected to collect for long. So as life expectancy goes up, the age of retirement will too. That is part of the reason that the FIRE movement is so "hot" (pun intended). Edit: Poor spelling
I would love to live as a minimalist. The more I get rid of in my house the better I feel.
I'm a 62er! I left the workforce at 60. Living off of two retirements. They're not real big retirements, but manageable with no debt. Getting SS when you get your medicare, ST. I'm learning to live on less, walk daily, cook from home, and maybe get a side hustle. Enjoying life one day at a time cause, Like Hall & Oates says, "I Can't Go For That, No Can Do," about working 40 hours at a tough job!!!!
Hey Tim, I have a question about working the side hustle… what do you do when you are physically unable to do that side hustle but you need that little of extra money? I really hope that you can answer this question to me because I really enjoy listening to you and I would like to be more like you and get my money as soon as possible and get myself back into shape into shape and stop to smell the roses!
Get ask all the time. When you can’t pour some wine in a glass (speaking facetiously) then you need to go into a home or just sit in a chair I guess. I don’t think or worry about such silly things like I can’t walk down the road or work or drive. What would anyone do, that becomes like that? It’s the old people’s home I guess. They’re on every corner down here in Florida. They except you SS check and in you go. 😎
Thank you for your response Tim. You’re doing a great job. I enjoy listening to you and keep up the good work next time I’m down in Florida I’ll be coming to ship some wine or get a cracker and cheese from you - lol and by the way, Tammy is a keeper for you!
You don't have to continue working for your social security payments to go up. It's a guaranteed 8% per year + cola raise. People are living longer. If you die early o well your dead can't complain. But if you live to 90 or 100. With everything going up and inflation. You might wish you had that 1500 dollars more per month. From 62 to 70 you should be doing roth conversions. To keep your rmd's low so you can stay in a lower tax bracket
So much more I can say but you get the point.
I'm 57 and talk to my father who lives in a town north of you. Im watching you and others on retirement. I would love to speak with you . Your experience is valuable. Respect to you.
Keep making that money. I'm looking to do rv living myself.
Took mine at 67 4 months, wife getting half of mine, we both have small pensions on top of SS, we don't have to work, making $250/mo more than when we were working. Have fun being tied to a part-time job to make ends meet. By the way, putting $1,500/mo in savings.
Please no disrespect intended here…saving for what? If your goal is to die the richest man on the block, congratulations. Everyone is different, if that’s what makes you comfortable, god speed.
My goal is to have the finances to help others, I cannot do that working odd jobs, bought a foreclosed TH during the 2008 crash for 40% off, will buy any of my neighbor's houses during the next crash so they can stay in their homes. My father grew up very poor and instilled a good work ethic in me and the desire to help others out of poverty.
@@TrailstoSailsnot to be negative- why save money now? Obviously live within your means but why save ? You could be enjoying life - traveling. Dining out. Visiting w family etc etc.
Those pensions aren't too small if, added to your SS, you both make more than you did working. I am assuming you worked until 67?
@@chrisk4053 Who says I'm not?
OK - why aren’t your hands on the steering wheel? I’m freaking out and cannot concentrate on your words. 😮
I agree. It's 5 years of freedom and fun while you are still relatively young. To me that is worth ✨️ much more than an extra $700 a month in my later years. I took mine early but honestly it was a no brainer for me due to life expectancy. 🙃
Tim, you are scaring me when you don't have at least one hand on the wheel. You may be steering with your knees, but if some knucklehead does a bozo move or a bump in the road, if you need to react quickly, it may be less effective and lead to a catastrophe. We need you around for a long time.
Yes !
I was going to comment about this before, but didn't , it angered me. Not only is it very dangerous, it is illegal. I have seen lots of other people doing this also ! I pretty much quite watching Tim because of that.
LOVE Hall and Oates Tim! Enjoy your channel up here in PA!
Would love it if you talk about stretching that monthly payment to cover rent etc. how much rent do you pay to live in your camper? I’m trying to get ideas how I’ll be able to survive on my own on social security and the few bucks I have saved. I have a little camper and am not apposed at all to going that route. But it is tough to manage as a single woman. anyway great content!
Knowledge is knowledge and experience is experience. I saw that comment. Unfortunately, a lot of people judge others by what they own. Especially the younger people. They’ll learn. Some of the wealthiest people I know have little to no integrity or common sense. There’s really no causal relationship between those and one’s material possessions.
I gave you a thumbs up bro..👍
That’s right, knowledge is knowledge because you’ve lived, experienced life at its finest. So much healthier to take SS at 62 & down size, heal, side hustle & start to enjoy! 💛 Keep on Crushin! 👏🏻⭐️👊🏻
I call it.enjoying life. you are living reasonable. I have no desire to live in a big house.with a big house payment.or a fancy car .you and Tammy are living your life.🌈🌻
For anyone that hates their job, I can't really argue with your advice for people that have saved very little and do not have 401k's and IRA's, I would guess that they they probably don't have a choice and need to collect SS whether they are healthy or not. But, for those who hate their jobs and do have money in a 401k or IRA, they would be better off at 59 1/2, withdrawing what they would get from SS from the 401k/IRA and delay the SS as long as they can take that amount from the 401k/IRA. The reasoning being that the investments aren't guaranteed to grow but the delay increase is guaranteed.
Lots of benefits to that approach, particularly tax wise. Main downside is you will likely have less money to leave to heirs, if that matters to you.
@@alphamale2363 Very true, another upside though if you have a ton of money in those accounts is tackling the tax time bomb that a lot of people don't talk about with deferred accounts. I did a 20 year projection on my own accounts and it was eye opening. For me, it's going to be about converting non-taxed investments to taxable investments at a rate fast enough to avoid being forced into the highest tax bracket eventually.
My thought is, it's okay for folks to disagree with you, me or anybody else that comments here. At least they are "thinking" about all of what goes into this idea of retiring. That's half the battle, just getting people to think about how it all works for them as an individual.
Tim, you are a minimalist. Great, if that works for you. I'm sure you can respect that I am not. I have a full woodworking shop as well as other hobbies. This all works for "me".
Even if a person does not have a part time "paying" job in retirement, we still need to stay active. I'm a volunteer for the Missouri Dept of Conservation. It's fun, worthwhile, gets me outdoors among like minded folks. You gotta get up off your duff and keep moving ! Keep the content coming brother !
My mom passed away in '97 at age 63. I'm older now than my mom was when she passed! Fortunately, I DO have one of the BEST functional physicians in our county. He's more into nutritional changes before prescription meds and he LISTENS to ME if/when I have to go in for anything.
Working out is also good for your tendons, joints, and bones. And you don’t have to lift heavy weights. Even if you can’t walk just lift some light weights. Crush it! 💪
They want Us to work until We drop..I even said that at The Social Security Office an He agreed..BOOM
I have been at my job for 33 years. Hard to believe, but I have always been working for CEO's and they have all been so nice. The reason I stay is because I really like it. Also, they let me off whenever I want so I have already seen all my bucket list items, which I keep adding to. I also live in Hawaii so there's that. I guess I have been brainwashed as well because I am 66 and will take my SS in a few months. Until your channel, I never thought about taking it early. Believe me, if I didn't like my job or wasn't able to take care of my health as I do, I would leave. I would also leave if I couldn't take vacations when I wanted. I am afraid that I am not very disciplined without having structure to my day.
Amen brother. I left at 59, three months ago. SS at 62 hopefully. Working my new JWB..Job Without Boss. Freedom is goooood.
62 yrs old I have 17 yrs to go to reach that age thanks for the info Ben trying to take better care of self
Hello Tim regardless if people disagree with you or not I can tell you are passionate. God Bless You my man.
5 more years at a desk will kill me 15 years sooner.
The best part of your advice is to help focus people on the possibilities. A rut is a grave with the ends knocked out. I love my job and will retire at 65. However, if the worm turns, I’ll punch out earlier.
You fit the 1 reason I always give not not to collect at 62. 😎
Give me my check while I
am living, walking, talking and coherent to enjoy my family while I can.
That money does me no good laying in a nursing home eating broth and wearing a diaper.
Do you other people understand this?
You always get a thumbs up......😋 The number of children dying has decreased over time and this alone would increase the average life span. I'm not getting SSA at 62. No reason to get SSA until my husband retires. When we both retire WE WILL CRUSH IT. If only one makes it then someone will crush it....no regrets.
I love listening to Hall and Oates too.....Las Vegas Turnaround. My wife and I , retired in mid-sixties, collect SS, pension, and both work part time jobs 12-15 hours a week. Jobs are no stress and we actually like working a bit every week. Exercising and eating healthier has been our priorities since we retired. We are much healthier physically and mentally. When we hang up work for good, we plan to slowly withdraw from IRAs and 401Ks. Thanks Tim, we enjoy watching your videos after our morning swim and walk.
I took my SS last year when I hit 62 but I kept working. I work full time but it's only 3 days a week (3-12 hr shifts) and I'm off 4 days.
It's almost like I'm semi retired. I defer 1/2 my income to a 457B to keep under the income limit and they have a decent insurance plan that's
not too expensive so I'm going to keep working for a while longer besides, my mother-in-law lives with us so our travel plans are very limited right now.
I’m inspired and making moves using your experiences and knowledge. Thank you for sharing and here’s to two more years until Freedom!!
I think it is funny when someone who started collecting at 62 and is now 67 and says "I regret taking it at 62". That is like asking someone who bought a lottery ticket and lost if they regret buying it. Of course they regret it AFTER the fact. But had they won the lottery or died at 66 they would feel differently.
It's a gamble either way really. For us, I'm happy you didn't have this channel when I was 62. I may have taken it at 62 and been sorry......maybe. Who knows their longevity. Mom passed at 67, dad still going strong at 89.
You rock though Tim!! If you're not married to Miss Tammy already, what the heck are you waiting for...
Haven’t seen a Doctor in 20 years and my mentality is why the hell would I ever see one if I feel great!! 😊
Spot On! I was always listening to Fox News and was getting fired up. Our country is so bad right now. But now I stopped dwelling on that. Hitting the gym, walking a good 10K steps a day, listening to music from my younger days and enjoying all your videos. I appreciate you Tim because you show us how to CRUSH IT! By the way you need to look into getting some merchandise made with the CRUSH IT! logo 😎
@Sarasota Tim … I’ll get philosophical for a moment. You’ve really found something here on this platform. I value what you have to say, and I think you touch lives. At the least, you make us think about our finances, our savings, and our lifestyles. The important part is living your best life, which seems to be what you’re doing. Cheers, Tim!
It's such a bad idea in most cases at 62, if you plan to work at all. 67 is the ideal age.
Agreed. Get as much as you can!
Remember, though NO one is guaranteed tomorrow!
I have had plenty of Classmates, co workers, Relatives, etc...., pass on before their time. Some were even in great shape!!
Wow Tim you are wound up today lol I believe everyone’s situation is different some people need to work until their 67 for whatever reason that is me myself I can’t wait until I’m 62 I’m with you I have been paying in my whole life why not take the benefits when their available ya no if it’s even around when I turn 62 still have 14 years 😂😂😂😂
New to the channel! Loving it. Quick question to the monthly deposits from SS...2 types ? One monthly amount and also once a week extra? Not understanding but could you reiterate? Thanks!
I’m 60,still don’t know when to retire. But when I do,, I want to be living in my 5x8 cargo trailer and staying my azz parked in the town I live in. And hopefully be able to do part time work for the the people I currently work for. I have friends in the Philippines I want to spend more than 1 week with. I can’t wait and I’ve already started setting up. Life is great
Right on target- I agree - Sending much love
What are the percentages of people who truly love their job ? Maybe 25% and for those they should work till their hearts content but for the other 75% I would suggest getting out as early as reasonably doable , get your 35 years of qualifying working years and hopefully you have put yourself in a position to hang it up . I retired this year at 60 with no college education married and raised one child and did our best to still live a life but saved and invested along the way . Loving every minute of it ..
I love my job at 61 years old. Jumping into retirement is a huge puzzle for me.
The government line is wait till the max retire age, knowing a lot will not utilize it fully.
67 and just UNRETIRED.....I'D RATHER WEAR OUT THAN RUST OUT....
Clint is still around and he's in his 90's..
Tim, it’s too late for me to retire at 62. Everyone is in a different situation. I’m on SSDI right now, plus disability from work. I have a pension that I haven’t even tapped into yet. But you have a lot more helpful information in addition to. I’ve had replacement parts from knees, hip, spine, ankle. I get what you’re saying.
I think for a lot of people it’s actually scary for them to retire even though they want to.
collecting SS at 62 ws good. Now on the flip side. Husband passes, trying to collect from SS death benefits. They took 3/4 of his SS, they gave me enough just on the poverty level. At 78 now have to go back to work or rent out part of my house!
look into a reverse mortgage if you have equity in your home
Here goes. I’ll see if you read/respond. I’m 65.5 and semi-retired. I spent 30+ years in a law enforcement career; now still working in private security, (it may keep going?), but I’m
planning on taking SS this year when I turn 66 [fra is 66.6] so am I stupid or crazy?
PS. My LE pension will always be greater than my social Security income …
Take it!! Your stress is NOT worth it. You will feel like a brand new person!! Best wishes!! ❤
Neither you can’t go back in time and you’re going to draw asap now so do it. Maybe you didn’t know the information that’s been discussed back when you were 62. So good luck now enjoy your life. 😎
#SupporttheBlue
I'm 67 and took Social Security at 62. I have never regretted it. I was a state employee for several years and have a small pension. With those two, my retirement income is enough. Social Security is a hot political issue, but I feel the politicians will do away with it, or greatly reduce it, in the coming years. The three biggest expenses of the Federal government are Social Security, Medicare, and the Defense Department. You paid it in all these years. Get it before it's gone!
Gov - "Oh we'd never reduce it but we will tax 100% of it going forward!" - Government logic !!!
Wrong. It's not "politicians" who will mess with Social Security, reduce, get rid of it, whatever, it's REPUBLICAN politicians who have said that is what they WILL do. Let's be clear about this. There is not a single Democratic member of Congress who has EVER suggested any such thing. Remember this when you vote in 2024. Same goes for Medicare. You can thank FDR and LBJ, by the way.
6 more years for me 🙏 62 is my goal
I’m torn !! My employer is downsizing therefore offering the older folks a severance buy-out. So much per year plus pension contribution.. insurance will extend 26 weeks. … it’d be nice to be “free” .. but what about my years of 63 thru 65 ? I can’t see s clear path at all.