I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent. I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably. I have no debts ... Stay Motivated!!!!
You have done great for yourself. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do. I would be happy if you could advise me based on how you went about yours..
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
The decision on when to pick an Adviser is a very personal one. I take guidance from “Gertrude Margaret Quinto” to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Best one yet! I gave up being frugal about 6 months ago. I was raised frugal and have been so my whole life. I'll be 61 next month. I drink water at restaurants and usually choose one of the least expensive items on the menu. However, I've always spent $ on things that bring me joy, like traveling. I'm going to work at being less frugal and enjoying all that I've earned going forward. I retired at 60 and moved to Hawaii, and I'm heading to Italy next week for a month. I finally realized that I'm allowed to enjoy my life every day. And I do get pleasure in the simple things here like walks on the beach, watching the sun come up over the mountains and setting in the ocean at the end of the day. I buy better quality foods and household items. Bravo Azul. We deserve it.
How do you like living in Hawaii? I've vacationed there several times and always loved it. I'm a senior and a widow of 9 years. My concern about moving there would be making friends.
@shelleycharlesworth5177 I love it here. I'm a loner, so making friends is not all that important to me. However, I live in a very large condo complex and there's plenty of people that you could meet. The beauty, nature, and great weather make it very easy to be grateful and happy every single day here.
@@michelecook7828 -oh thanks for answering! Does your complex have "get-togethers"? I am not all that 'social' but I feel it would help me to have a friend or two. Did you downsize ? Are you happy with your condo or does it feel too small?
I've found it is hard to change the savings habit and start spending. If I do spend it's money I have earned since I "retired!" Ha ha You are right - you worked hard - enjoy it and spend some!
I have been retired a year. The first month I retired my wife and I bought a brand new car for the first time. We paid cash. I find myself finally starting to loosen up with our money, but it was a mindset change. I am 62 and figured out that I cannot spend all the money we accumulated, so We are going to do what we want now. I just bought my brother a 1st class ticket and am treating him to Vegas for his 60th birthday. He never flew 1st class, the ticket was 2 grand and he could not believe it. I told him I have it so it is time to have fun while we still can.
Frugal is saving on the things that aren't important to you so that you can "splurge" on the things that are. A spendthrift spends on both, a miser on neither. ;) Best thing I've done in that regard is paying to have my lawn mowed and snow removed. I _could_ do those tasks myself - I did for years. But I can't maneuver the snow blower around like I could when I was 40 so to me not having to do so is not only a time saver but a nice quality of life improvement.
Hi Azul. My father who is deceased since 2002 provided me with some advice that served me well in life in terms of spending money. He said if there’s something you want to buy wait seven days. If you still want it go ahead and buy it. In the examples that I haven’t followed this advice I’ve generally regretted the knee jerk purchase. And without doubt the majority of the time once 7 days has passed by the want has also faded. Not sure how much money this advice has saved me over my lifetime but my sense is that it’s a considerable sum. Really enjoy your channel.
That’s reminded me on how my cousin’s face looked, when she asked mom to buy a chocolate and mom replied that she’ll go to city next week and buy it cheaper 😅
Not only did you save money by not giving into impulse shopping, you also avoided creating clutter in your home by not collecting useless things. For me, the latter is more important because I love seeing space in my modest 2000 square feet home in San Jose, California, which I fully own (valued at 2 million USD)
It's funny about the sodas! I'm a Truck driver, on my 28th year, but I never buy soda or tea or coffee with my meals. I eat out now about 6 to 10 times a week. Earlier years, there were a lot more, but we have inverters in our trucks now, so I can cook myself. I've saved many 1000's of dollars by doing this. I go one more step above a glass if water. I always ask for lemon and put a sweetener in to, make "poor man's lemonade" that's what my kids call it. Take care and thanks!
To me quoting being frugal means philanthropy. I was never one for charity while I was building wealth and my parents like yours didn't make very much money and we didn't have much to give. Now that I am 73 years old with more than enough money to last I have made frugal philanthropy one of my passions. I like to give my entire IRA and Inherited IRA income to charity. I do this in the most effective way possible and am very selective where and how much is given to each. I have started 2 remainder investment trusts for my IRA distributions and a DAF. I wish to leave a legacy and help people, animals, and the environment long after my death.
Frugal bastard checking in! Been struggling to shake my frugality with a big purchase. I feel like my financial status gives me permission to spend $8,300 on a mountain bike, yet I just can’t shake the frugal mindset. My net worth says I could retire today so I know it’s affordable. The struggle is real.
I am always going to be frugal no matter how much money I make. But while frugal, I am not stingy. I will give to friends and family when i recognize a need. The problem with that, though, sometimes, is that you see those people being wasteful with their money and they tend to see you as loaded when you give. Many don't seem to understand that you prefer to help them in a stressful time than spending for something you may need or want. Also, many people have not grown up in really lean circumstances and, I believe, do not fully appreciate the need to take care of themselves because they have had security most of their lives. So, I'm leaning more toward letting them take the hard knocks on the chin if it helps to complete their education. ...also, keep cutting the lawn, it's good for your health. I have used a push mower all of my life and currently cut about 1/2 acre around my home. I never have a soda at a restaurant because i allow those only as a treat at home and i have one six pack per year. I usually have it ice cold with a fresh boiled egg still warm and every time i say, "I want to go to Pepsi heaven". Yes, i like to luxuriate in small treats.
Enjoy your videos immensely. You are one of the few I watch to the end. As a rule, if a video is over 3 minutes, I pass it by. Planning to retire this year. A little scary.
What you don't like mowing the lawn? I'm 69 and I actually like doing that along with snow blowing the sidewalk on our block. I say I'm the Forest Gump of snow blowing. Gotta keep busy and take care!
I subscribed somewhere in the 7k range some weeks ago. Azul, I am super proud of you that you are able to have relevant content daily and you are close to 28k subscribers! I see 100k in your near future. I will be retiring in 30 days. My brother and I have run a successful small business for 40 years and June 1 I'll be "dropping the mic". I have been relatively conservative for most of my life. So, I'm with you NO MORE! It may prove to be difficult (I'm very pragmatic) but I'm up for the new challenges on my reset June 1. I look forward to viewing more of your videos as they are super relevant to me!! BTW.. love your locations!
I hear your message. My issue is: I don’t believe the so called experts. Stuff is something I never needed. Less is best for me. When all of the basic living expenses got expensive, I was prepared. Taxes, fuel and food are tripled from only 2 years ago. I owned and operated two business’s for 40 years. Went through all the rubber to green cycles. I buy used, shop at thrift stores and travel light. Always did and always will. Good video. All the best.
I get it. It's all about making choices. I traveling back to Arizona where I live part time from Florida where I live part time. Staying tonight in a Motel 6 in a small Texas town, but decided to treat myself to a wonderful dinner in a pricey bistro. So there you go!
It can be hard to shake the frugal mindset, but this is a good message - if it brings you joy it may be worth it especially when you can. I have one more goal to hit next year and then I'll be both less frugal and more generous. Great idea to start a coding bootcamp to help others!
2 ways to skin a cat. My best friend is the most frugal person I know. He is 47, never flown first class and could retire next year if he wanted. I am also 47, never fly coach and sometimes private and have roughly the same net worth as him. After we finished our MBA, I left corporate life, started a business and he stayed corporate. Some years I envy him and some years he envies me. I tend to be frugal on items I cannot write off. The tax system makes it really hard to get wealthy quick. If not for taxes my net worth would be 3-4 times higher and now that I approach 50 and a recession is looming I sure wish I could sail off into the sunset with a larger cushion. Most expensive thing I splurged on: 2 year sabbatical traveling the country with our two young kids: worth every penny.
You made me laugh out loud with your introduction. I haven't bought a soda with a meal in... forever. The issue I have is, I love saving money; in any way and form. I was forced retired last year and what I struggle with is spending my years of savings; very large savings. There is a difference between frugal and cheap. Maybe we need to discuss that difference because I am accused of being cheap, when I am just being frugal. Because I my cheapness, however, I am well to do. Often I am the richest person in the room, but no one knows it. To me, that is the best feeling. BTW - I am married to my high school sweetheart 45 years. I do have 3 adult children, all educated, 2 with masters, and 7 grandchildren. I did live life, but one the frugal side. Will I stop being frugal - NEVER! (big smile)
hey. I'm not sure why you associate frugal with NOT buying soda. Isn't soda "sugar water" and processed chemicals with no value to your body? I don't intend to offend: Maybe you are only frugal comparatively? If you drink any liquid, with a meal, restaurant or home, your body can't effectively process the nutrition from your food. I'm not sure a frugal person can not know this. Perhaps if this is true (maybe my doctor is mistaken or something else) it means your children and grandchildren don't know it either. Please assume I am a troll but consider checking it out: Drinking soda with meals MAY lead to any number of bad results and MAY cause degenerative disease. Please read this again but substitute "any liquid" for soda. Best! I hope I am wrong.
I love the frugal attitude. I spend money on things that are important to me and my family or things that will improve lives. But if it's not important or impactful, I'd rather save the money for something that is.
I'm breaking my frugality cycle, now that I'm 55, have invested well since age 21. I'm taking more vacations and trips. An American expat living in the Philippines, I am on 1 week holidays to Europe and USA every 1-2 months. I often travel solo but I lined up a special holiday with my daughter to Scotland for this December. She doesn't make enough to fund a vacation like this, so what a way to reconnect. I've always been a tipper, but I'm tipping more, especially if the service is deserving. No more cheap beer!!!! I drink much less nowadays, but when I have a beer, it ought to be a craft beer or a stout or an IPA. Quality clothes that travel well, wrinkle less, and stink very little. Thanks for your motivational videos.
No it’s not. You can’t opt out of paying for sodas and accumulate $5k. That’s no better if a claim then believing the 2020 election was stolen. It just make frugal people feel better about being cheap.
I enjoy listening to you Azul. I'm approaching 50 and all sorts of existential thoughts are popping into my head. So I'm on a kind of journey for physical and mental health, to shed a lot of bad habits and to be who I know I should and want to be. Listening to you is very helpful - thank you.
Thank you for your videos Azul. Love watching all of them. I’m almost 45 and mowed our lawn since 2009. Not only to save, but because I enjoy the process and the outcome. My partner also started cutting my hair since 2018(she cuts the back and I cut the sides & front). Every time I tell people that they are amaze! And besides it’s hair. It’ll grow back. I have not bought clothes & shoes for 2 years! I have plenty to last me a lifetime. I too refuse to buy a car. Love not having car payment🤓. Instead, I bought my dads 2006 Toyota Corolla, which thankfully he maintained really well. And just to add, my parents are retired living on a fix income they certainly don’t need 3 cars. Less upkeep etc.. I love being frugal. I’m confident where my money is going instead of where it went. And that my friends is financial freedom🥰
Thank you Azul for your videos . No point to be frugal, if you do the math and it's a positive result. Also there is no point to turn 180 degrees and to spend endless . For me the answer is clear : if I feel badly the need to spend for something, I spend without hesitation. But if I don't feel it very much, I don't do it.
My daughters (who are now 49 & 50 years old) still like to tease me that they were only allowed to order 2 things when we occasionally went out for fast food. Either a sandwich and fries or a sandwich and drink- but not all 3 (like their friends were able to do). The reason truthfully was that could never finish all the food when they got 3 things. Food waste and frugality have always been important to me. I pointed out to them that they could share their fries and drink and then there would be no waste but the generally declined to do that....whatever.....limit 2 things each was in place for many years.
Like many other commenters, I've always been frugal. I'm retired, have a decent-sized 401(k), have a side gig that pays my bills, and am waiting until 70 to claim Social Security. But, I figured out that Social Security alone will cover all of my expenses and leave a good bit to use for whatever I want to do. It's so hard to break out of the frugal mindset though. I don't even get water with a restaurant meal - I always cook at home. I don't even order pizza, I make my own (and it's good). I'm trying to take those small steps, but it isn't easy to break lifelong habits.
Another great video, Azul thank you. I am just shy of my 64th birthday and I was just laid off, so I’ve been listening to your videos. I have been thinking more about frugality myself in light of my current situation. However, the point you raise about not being frugal about everything is a good one, keep up the good work on your channel. Hello from Minnesota:)
I subscribed and checked all the boxes! I’m a CFP still working at 63 but planning on retiring in two years as I planned. I love seeing your vid bc you seem like a great person and love seeing you giving good advice to people 🙏
After watching a few of your videos I decided to subscribe. You are inspiring - I'm nearly 60 and ready to retire. You usually tackle a subject I find myself worrying about. Love your perspective!
It is funny you mention grass cutting and snow blowing. I have always paid for this because I did not have the time. I am excited to be able to do this myself, not to save money but to feel the satisfaction of a beautifully manicured lawn. Sometimes thoughtless jobs are the most rewarding. Great channel, look forward to your stories, keep them coming!
Your still a PUP ! I'm 68 retired somewhat a few years ago.The thing that bothers me the most is the cost of paying some one for things that I used to do myself all my life. And worrying about major repairs as I own a single family home on the Jersey shore .It will take me weeks or more to finally hire someone to do the work,depending on the urgency of course .Got used to adding the recovery time into all large jobs .And most of all don't want to lose my DYI savings on doctor bills! Great site keep up the good work!
Been a subscriber since about 7K as well. I promote you every chance I get. I also try to watch the commercials and not skip them, so you get full credit! Great advice from a real world perspective.
Azul, I have a funny story about me for you. I used to run a fancy store in Boston and sometimes young men would show off their "wealth" by throwing their change on the floor or street. I'm not a religious man, but one day I made a pact with our maker that if I picked up every coin that I found in the street, He would make me wealthy. So I picked up every coin, even pennies. Years later, as I was walking to my lawyers office to complete a valuable real estate lease, I spotted, buried in the hot tar of the city street, several coins. Of course I got out my handy pocket knife and as I was digging the coins out of the hot summer tar, I thought of my wager with our maker and I smiled. Yes I had been saving discarded coins for decades and now I was reaping my reward with a substantial lease that would end up making me a wealthy man.
When people first retire they tend to be very careful. Over the course of time most of us learn to spend more freely. We are now spending a lot on travel, which we enjoy. This is not a dress rehearsal, this is the main event.
Boy did this resonate with me. Very frugal my entire life and struggled with not much in the way of financial resources but now in our mid 60s we have achieved financial independence and are trying to learn to enjoy that blessing but it can be a challenge to change old habits. But next month we are doing a river cruise on the Duro River and visiting Portugal and Spain. We’re flying business class for the first time!
- If it truly brings you joy then work to attain it because life is short. The tricky part is being able to separate the excessive,wasteful purchases from the ones you truly deserve to enjoy .
The prepper community frugality is the way I've lived most my life,and still lived comfortable as I do now.I also am class of 84,Life has just begun.Have fun sportscar,hot chicks,sleep in once in a while what more do you need,own your life.Your Golden.
I came to the same conclusion several years ago. My kids don't need my money and don't expect anything when I die. My oldest has asked that I don't leave a lot of debt which she knows I wouldn't anyway. I've been debt free for years. I have found it's not that easy though. Being frugal is in my DNA as I'm Scotch! I am changing the way I grocery shop and not always buying the cheapest and quit buying stuff just because it was on sale. I don't know how many times I would have liked to go out to eat or had something different but I had a freezer full of sale items that needed using. I don't do that anymore!
@@PJBHolden I don't know, good question. She has just always said, "don't leave a bunch of bills." I guess if someone told her I owed them money, she would pay it.
Same age as you, and trying to be less frugal but damn it's a hard habit to break. I've been on a farm my whole life and have scottish heritage so frugal is an understatement , even my friends make fun of it, was widowed 3 years ago and it gave me a reality check that life can be short so I bought an adventure bike to make myself get off the farm which is hard as I'm an owner operator with no staff. I'm also trying to figure out ways to buy time such as paying contractors to do some time consuming but not expensive work and upgrading machinery thats more efficient.When I'm on the road with the motorbike I'll mostly sleep in a tent but then I'll go to a nice restaurant for a nice meal, and spend on attractions that bring pleasure, still enjoy being frugal but making a point of doing things that bring me pleasure. Your videos are great.
Keep up the great content, Azul. I am 54 and retired from public service. I still cut my own lawn although I am considering hiring someone as well. I am fortunate enough to have retired at age 52 because I was frugal most of my adult life and I am facing these exact challenges. Thanks for the advice and motivation to do so. By the way, I still drive a 2001 Ford F-150 but am currently looking at buying a new vehicle although paying 60-80k for a new truck is outrageous if you ask me! LOL. Also, just so you know, if you fly first class, you will never go back. Kind of like getting a balcony on a cruise ship. Once you do that, there is no going back to an interior state room or ocean view room. Continue enjoying life my friend!
Thanks for keeping it real and not spreading more fear about retirement. There are very few of you advisors out there making it sound possible. We are planning on retirement (at least part time) this or next year and not old enough for ss . With my husband's pension and selling our house in CA and moving to TN where our daughter moved that should be doable. We will eliminate a mortgage and have some left over. We have no other debt and I have a side business building/ redoing and painting furniture etc . Fingers crossed ! 😊
Love your videos. I am 50 and you have me thinking about early retirement and planning for 55 and out!! I would not have been thinking about the final 5 years being so important without your influence. Keep up the great work
The timing couldn't have been better. I am working on the same thing after years of being fairly frugal (not intensely, but probably the most frugal in my friend group), and now it's time to reverse the mindset so that spending on the right things (and we decide that for ourselves) that bring joy is so important. But I do struggle chaning decades-long habits. I have been trying to use this mantra: if not now, then when? You see people who did not make that mind shift and then leave us too soon without savoring the fruits of the labor. Great message, thank you.
Been retired little less than a year now. I am 59 and some change. My wife actually booked 1st class trip on our last vacation. I told her do not tell me how much it is. I will wait til AMEX bill comes. I do still cut my grass and actually cut a neighbors for a few $$ and help maintain her lawn. Here lately I have been driving her to Dr appts because Dr,s have told her no driving right now. I actually enjoy helping her that way. We still kinda live frugal tho and are trying to get past that.
Hi Azul. Love your channel. People who grow up poor as adults are either extremely cheap, frugal etc. OR they are ridiculous spendthrifts. I am 65 and I have owned only 5 cars in my life. My husband was brought up similarly as me, but he loves shopping, and changes out cars every few years. Not trying to take a dark turn, but children who grow up in abusive environments either repeat the cycle or they are the complete opposite. We are shaped by our environments. Thank you, Azul
For the most part we are all looking for value with our money.. Spend your money if you feel you are getting your money's worth. But nobody likes being ripped off. Reminder, if you don't fly first class, your kids will!
Azul, Commenting just to say I really enjoy your videos. My favorites are about the psychology of money like this one (enjoying life!) And I found the super tactical one where you described using filenames and folders to manage your HSA reimbursements to be very helpful. You seem like a great guy and I'm enjoying our walks! I like each video and subscribed in order to share the good energy you are putting out there. Thank you, and to all viewers, may you be rich in all ways!
This struck a chord. I’ve been living on fresh air since I retired early and unexpectedly 3 years ago. I don’t eat out, buy new clothes etc but surprised my son with £2,000 to help with house moving expenses. I don’t want to be remembered as mean and I know I could have done with funds when I moved house.
I could relate. I’m also 58 and retired a year ago. I’ve been frugal all my life raised in Cuba. Poor. Now i have more money but I travel a lot so i steal have to be frugal so my pension last me. Thank you for the program.
Love your videos, Azul! Hoping to be as happy, healthy and generous as you when i am your age. I think watching your content will allow me to be one step closer.
Very good advice. Good background as well.. far better than lo-fi background music. I never saw it as buying back time, but at 34 probably more like making things easier on myself. Why would I put a 9-5 on my shoulders + making meals + cleaning? No thanks! Have someone come by to clean. Try to wfh if youve got a family established. Increase time and quality for things you like and decrease time spent on things you can easily outsource
I too am frugal, also part Scottish (deep pockets + short arms) and I admit it. Like many, I inherited it from our parents who were children, post-depression era. While there’s no easy way to re-wire oneself, we can learn to loosen up on some important things, like when it relates to creating experiences. That will be the blessing of our standard of living actually increasing once we fully retire in a couple years.
I’m not a Scot, but I spent a lot of time with my Depression-era grandparents and I’m frugal. When I retire I will also have the ability to spend much more.
Growing up in the 70s and 80s I had a similar experience. Restaurant outings were rare, and when we did go it was no soda and no dessert. That’s just one example. I did not understand at the time but I do now. It’s interesting to reflect on the “frugality journey” over the years. It seems, based on my own experiences and observations of others, frugality evolves over time. I.e., what we choose to spend or not changes at different life stages. Today I’m finding I am more comfortable spending for someone else to build a fence, make a home repair, etc., instead of me doing those things as I’ve done over the years. It saves me time and energy that I can instead spend with my son. ❤️
I subscribe to your channel, Azul, although I'm sure we are NOWHERE in the realm of most of your subscribers financially, but I enjoy your content even if it rarely applies to me and my husband. Our financial planning would probably make you cry, as we really have no investments, and virtually no assets (except for our home, which we own), and we are debt free. Even so, your content is great, so keep on keepin' on! Thanks!
Great advice!!! I'm still a few years out from retirement but just paid cash for a new tesla....and show up at my favorite coffee shop in crocks and old t-shirt and shorts....because I just don't care what I wear, I'm not hunting for anyone/thing, lol. Time is the MOST valuable thing I have north of 55...dear wife and I were hyper frugal for decades....decades of 70hr weeks running first one business, now two. Finally I'm moving more towards "things that bring me joy" and no longer worry about something that costs $5, LOL...Life just gets better and better! (excepting physical limitations of course....time for still more exercise!)
Enjoy your videos. My wife and I decided when we travel internationally we travel business class. We find it’s actually more cost effective and enjoyable to arrive to our destination completely rested and hassle free. Having flat bed seats on a 171/2 hour SFO-Singapore flight is the only way to go. And if you shop carefully it cheaper than you think. Cheers!
I am fortunate my sustainable living style saves me money. It's crazy how little you spend. I hardly ever eat out and I find the food I make tastes better. I grow 60% of my food and nothing beats fresh picked salad from my garden! I always recommend giving to the less fortunate. What you give comes back 10 fold.
When you're on a plan for "early retirement", a big part of that calculation is picking your spending level. Because of the leverage of higher income at the end of career and the potential investment returns on a mature account, it takes a surprising small additional work time commitment to increase your retirement spending level. I worked 2-3 years beyond covering a "basic" retirement and probably doubled my "safe withdrawal rate" by investing that additional amount of time. For me, that was worth it. I retired at 62 and I'm not rich, but definitely not frugal, spending ~$100K/yr as a single guy.
Thanks for sharing your life with us! I just found your videos a week ago; gotta love the TH-cam algorithms 👍👍 So glad they did! Your positive outlook and straightforward approach to life and money is very welcoming. Looking forward to watching more!
I’ve been into minimalism/frugality for a number of years. It has worked great for me and put me into a very good financial position. But I just listened to the audiobook Die With Zero. It was excellent and gave me a new perspective on life and my hard earned money, that I really needed to hear. I highly recommend it to all.
I can totally relate with being frugal. I grew up on a farm in the Midwest during the 80’s farm crisis and it was the only way I knew. Still working on changing those habits! Life is good, I am happy and spending money doesn’t make my world go round!
Love listening to this . This is exactly who we are. Need to learn how to spend on ourself. Giving to others and specially kids - never an issue. Spending on ourself if a problem.
I can never bring myself to order a soda with fast food🙂. I was not very frugal in my 20's and 30's and I did buy alot of cars, but I don't really regret it frankly, I enjoyed them. I'm on track saving more the last 15 years or so (I'm almost 57). Thanks for all your relevant, interesting content.
I buy a lot of notebooks, pencils, pens, markers, and some “fun” backpacks ( and healthy snacks ), and I stuff them for needy kids in the late summer/fall for the up coming school year. I give them to the counselor, to distribute to children she knows will need them at my former middle school. ( I’m a retired teacher. ) it makes me happy. Maybe something like that will make you feel joy too.
Such a wonderful thing to do. Years ago, I worked in an elementary school and a little girl showed up her first day (she was living in a shelter) with a new backpack filled with wonderful supplies. She was so happy she was practically floating. I was wishing the whole time the person who bought the supplies could have seen how much joy they gave her. Thank you for what you do.
That's a great practice!!! You've got me thinking I may need to do the same. I live in the Philippines and many children can't go to school because the parents need them to work the fields or stay at home and watch the younger children...terrible and sometimes inescapable situation. Backpacks and school supplies would ease the immense financial burden on some of those local families that can at least afford to have their children absent from home during school hours.
Just paid off the farm I'm 35, wife is 27. We've got 500k in retirement right now. Hoping to have a few multiple million by your age maybe 4-5. Have a good day! great content Azul.
Being Frual is a game though. Its facinating working with people who are frugal and with people who dont give a crap on the price and buy what they want(but they live paycheck to paycheck)
You are simply a smart consumer. Spend money on experiences (which stay with you for a lifetime), rather than blowing money on trivial in the moment wants (soda). I think like you. Sometimes, to others, I seem to throw money away, other times, I drink water at dinner, and use a coupon. But, I still give a 25% tip for good service. The old timers called it penny-wise, dollar foolish. Pennies add up to dollars, which you get to spend like a drunken sailor on pleasure and buying back time.
Hello Azul (all), I will be 59 next month, and after a few months of waking up early, wearing the same clothes (work from home), decided it’s time! I’ve worked for the government for 35years, been blessed to travel the world, avid runner x29 years, in good shape. But now after listening to you, confirms it’s time to pivot. The 5,000-10,000 week analogy is true and has struck me in a positive way. My plan is to pay down my house, continue to do my online ministry wherever I am on the planet, and take on a fresh approach on life. I also volunteer so I believe your posts are a wake-up.
Both my wife and I are pretty frugal. Yes, we treat ourselves to nice vacations and experiences, but are careful about things like our housing, cars, bling, etc. Being frugal is what has set us up for a very comfortable retirement. We'll be pulling the trigger on retirement later this year, and I do know that we'll both have to work hard to start spending in our retirement vs. saving for it. I suspect we'll continue to be frugal...
I really enjoy your videos, especially on being frugal because I'm guilty of that! I confess that I'm 65 and I've never spent $100 on a shirt, but I have spent just over $100 for a pair of running shoes. And I plan on using them until there isn't any upper structure left to the shoes.
Running shoes wear out, both the tread and the supportive and shock-absorbing structure in the sole. Damaging your spine, knees, or hips isn’t frugal. It can disable you, and you won’t be able to do the things you want to do, for the rest of your life.
@@genxx2724 Good point. Health and those joints are worth the cost of protecting. Well-built shoes make a big difference. At 65 I still put in 150+ miles per month so I actually own plenty of nice walking/running shoes, possibly too many. 🙂
Diggin these vids - I'm 59 and retired at 55 still with 4 kids in the house and now 1 out of college, 2 in and one still in high school. Been fun learning how to navigate this new chapter and we're well planned and and financially savy so going great and COVID was a true test of the our Plan and feeling solid. Thx for the interesting dialogue.
Azul, I so relate to the story of you and your daughter! I'm so much happier spending money on my children than on myself, even though they tell me to change. The joy it brings to parents like ourselves is literally priceless. P.S. I hope you save all the extra sugar sachets they give you at cafes and restaurants :)
I've been driving myself nuts with the question as to when to retire. I want to do it now, but my FP wants me to work to age 70. Sure, $300 extra bucks would be helpful, but in my heart I know TIME is the only issue. I like your spiritual bend on time.
I think there's a difference between frugal and cheap. To me cheap is always going for the least expensive choice to the point of depriving yourself of things you like. Frugal is prioritizing your spending on only the things you absolutely love to do and forgoing spending on things you can live without. Now we know you can't spend your money on all the things you want. That's how you go broke. But you can chose two things sometimes 3 or 4 if your salary supports it you really love doing and spend in those categories. For example if you love spending on cars and vacations just know other areas like housing and eating out will need to be lower. For those who are foodies and love trying new restaurants and foods maybe they reduce their transportation costs by buying a used car instead of new. That's how I always viewed this.
Good spending is proper food which costs money generally, getting priorities sensible trading transport to eat out sounds off balance to me - what do you reckon I use my $2.50 seniors public transport pass to save money for a gambling outing ? Cheap , frugal or something else ? , my car is 21 years old purchased brand new for $21k i was employed then.
Hey Great Vid!! Truly enjoy!! My low miles 2005 Toyota- Some of my neighbors feel it is a luxury car- and it is!! Great sound system and powerful AC. All the electric works. // A client bought me some VERY high quality shirts. In 2002- Three of them are still good - and my fav is bright red. Serious Frugal- I feel you aren't: IF you get nutrition from your food. If so, AND you drink liquids with the meal, your body doesn't process the nutrients in that food. IF you are indeed Frugal- you will act on this: It will come to you like a second nature. / it has to do with PH: Stomach is acid, pancreas squirts bile, base: Liquids prevent this while food is in the stomach to process. Your body signals: No. Forget it. He just flooded the whole place with liquid. So tell me: Are you frugal or an imposter-frugal? Thanks again for great vid!!
I am 67, retired since 2017, was a single parent that raised 1 daughter without child support because I made good money in aviantion technology and was always able to give my girl a stable safe house of our own. I successfully educated her to my own practical frugality of what was worth spending more for, good shoes, health care, education and appropriate clothing. Together in my last house, she and I replaced all our windows and rebuilt the main bathroom from the studs out. As an empty nester now, I am still reluctant to pay for any home repair that I can do myself with a little labor borrowed from my girl or her fiance. Together the 3 of us saved me 6K by fixing, rather than replacing, a 3 pane sliding glass door. We also fixed her hatchback lift door for $25 in parts saving her hundreds in labor from a shop. With the money I saved being my own repair person, I had enough money to choose and pay for premium lenses for my eyes when it was discovered I had cataracts. Since I'll never need glasses again, I consider it a bargain.
I have been enjoying your videos.....We are very like minded...and...have the same upbringing...Thank you for your reinforcement of my core beliefs......
Love your philosophy & joyful spirit. Thanks! So, do you ever think you’ll buy a new car? I’ve been considering this as a possibility lately, but it really “bites”! 😀
I recently "splurged" on a subscription to the WSJ, 2-year subscription to Sports Illustrated, and high-speed internet service and a Blink camera to keep an eye on my 86 y/o father.
![[LIVE] : ONE ลุมพินี 86 | คู่เอก "คมเพชร vs ชาติพยัคฆ์"](http://i.ytimg.com/vi/m3q_dRYDuU8/mqdefault.jpg)
![fellow fellow - พรุ่งนี้ไม่มีใครรู้ feat. INK WARUNTORN [OFFICIAL MV]](http://i.ytimg.com/vi/QP6JyjYx_W0/mqdefault.jpg)
I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent. I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably. I have no debts ... Stay Motivated!!!!
You have done great for yourself. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do. I would be happy if you could advise me based on how you went about yours..
That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success..
What are you waiting for.? You need to retire . . .
Fantastic James, way to go!!!
That's awesome I retired in my 40''s and live over seas like a kings man,😉
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
*@sofiakhalida8106* That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
The decision on when to pick an Adviser is a very personal one. I take guidance from “Gertrude Margaret Quinto” to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Best one yet! I gave up being frugal about 6 months ago. I was raised frugal and have been so my whole life. I'll be 61 next month. I drink water at restaurants and usually choose one of the least expensive items on the menu. However, I've always spent $ on things that bring me joy, like traveling. I'm going to work at being less frugal and enjoying all that I've earned going forward. I retired at 60 and moved to Hawaii, and I'm heading to Italy next week for a month. I finally realized that I'm allowed to enjoy my life every day. And I do get pleasure in the simple things here like walks on the beach, watching the sun come up over the mountains and setting in the ocean at the end of the day. I buy better quality foods and household items. Bravo Azul. We deserve it.
How do you like living in Hawaii? I've vacationed there several times and always loved it. I'm a senior and a widow of 9 years. My concern about moving there would be making friends.
@shelleycharlesworth5177 I love it here. I'm a loner, so making friends is not all that important to me. However, I live in a very large condo complex and there's plenty of people that you could meet. The beauty, nature, and great weather make it very easy to be grateful and happy every single day here.
@@michelecook7828 -oh thanks for answering! Does your complex have "get-togethers"? I am not all that 'social' but I feel it would help me to have a friend or two. Did you downsize ? Are you happy with your condo or does it feel too small?
@@michelecook7828 Sounds great! Thanks for sharing. How expensive is the HOA and property tax?
I've found it is hard to change the savings habit and start spending. If I do spend it's money I have earned since I "retired!" Ha ha You are right - you worked hard - enjoy it and spend some!
I have been retired a year. The first month I retired my wife and I bought a brand new car for the first time. We paid cash. I find myself finally starting to loosen up with our money, but it was a mindset change. I am 62 and figured out that I cannot spend all the money we accumulated, so We are going to do what we want now. I just bought my brother a 1st class ticket and am treating him to Vegas for his 60th birthday. He never flew 1st class, the ticket was 2 grand and he could not believe it. I told him I have it so it is time to have fun while we still can.
That's the way to do it !
@Battlekitten-sl2vn Thanks
Wonderful, blood thicker cash
Being Frugal is what got me financially secure and able to retire at 61. But yes at some point I got to spend my money, I'm not going to live forever
Frugal is saving on the things that aren't important to you so that you can "splurge" on the things that are. A spendthrift spends on both, a miser on neither. ;) Best thing I've done in that regard is paying to have my lawn mowed and snow removed. I _could_ do those tasks myself - I did for years. But I can't maneuver the snow blower around like I could when I was 40 so to me not having to do so is not only a time saver but a nice quality of life improvement.
Hi Azul. My father who is deceased since 2002 provided me with some advice that served me well in life in terms of spending money. He said if there’s something you want to buy wait seven days. If you still want it go ahead and buy it. In the examples that I haven’t followed this advice I’ve generally regretted the knee jerk purchase. And without doubt the majority of the time once 7 days has passed by the want has also faded. Not sure how much money this advice has saved me over my lifetime but my sense is that it’s a considerable sum. Really enjoy your channel.
That’s reminded me on how my cousin’s face looked, when she asked mom to buy a chocolate and mom replied that she’ll go to city next week and buy it cheaper 😅
Not only did you save money by not giving into impulse shopping, you also avoided creating clutter in your home by not collecting useless things. For me, the latter is more important because I love seeing space in my modest 2000 square feet home in San Jose, California, which I fully own (valued at 2 million USD)
It's funny about the sodas! I'm a Truck driver, on my 28th year, but I never buy soda or tea or coffee with my meals. I eat out now about 6 to 10 times a week. Earlier years, there were a lot more, but we have inverters in our trucks now, so I can cook myself. I've saved many 1000's of dollars by doing this. I go one more step above a glass if water. I always ask for lemon and put a sweetener in to, make "poor man's lemonade" that's what my kids call it. Take care and thanks!
To me quoting being frugal means philanthropy. I was never one for charity while I was building wealth and my parents like yours didn't make very much money and we didn't have much to give. Now that I am 73 years old with more than enough money to last I have made frugal philanthropy one of my passions. I like to give my entire IRA and Inherited IRA income to charity. I do this in the most effective way possible and am very selective where and how much is given to each. I have started 2 remainder investment trusts for my IRA distributions and a DAF. I wish to leave a legacy and help people, animals, and the environment long after my death.
Frugal bastard checking in! Been struggling to shake my frugality with a big purchase. I feel like my financial status gives me permission to spend $8,300 on a mountain bike, yet I just can’t shake the frugal mindset. My net worth says I could retire today so I know it’s affordable. The struggle is real.
I am always going to be frugal no matter how much money I make. But while frugal, I am not stingy. I will give to friends and family when i recognize a need. The problem with that, though, sometimes, is that you see those people being wasteful with their money and they tend to see you as loaded when you give. Many don't seem to understand that you prefer to help them in a stressful time than spending for something you may need or want. Also, many people have not grown up in really lean circumstances and, I believe, do not fully appreciate the need to take care of themselves because they have had security most of their lives. So, I'm leaning more toward letting them take the hard knocks on the chin if it helps to complete their education. ...also, keep cutting the lawn, it's good for your health. I have used a push mower all of my life and currently cut about 1/2 acre around my home. I never have a soda at a restaurant because i allow those only as a treat at home and i have one six pack per year. I usually have it ice cold with a fresh boiled egg still warm and every time i say, "I want to go to Pepsi heaven". Yes, i like to luxuriate in small treats.
Enjoy your videos immensely. You are one of the few I watch to the end.
As a rule, if a video is over 3 minutes, I pass it
by. Planning to retire this year.
A little scary.
“Blessed are the curious, for they will have adventures” saw this on a sign the other day, made me chuckle.😊
What you don't like mowing the lawn? I'm 69 and I actually like doing that along with snow blowing the sidewalk on our block. I say I'm the Forest Gump of snow blowing. Gotta keep busy and take care!
I subscribed somewhere in the 7k range some weeks ago. Azul, I am super proud of you that you are able to have relevant content daily and you are close to 28k subscribers! I see 100k in your near future. I will be retiring in 30 days. My brother and I have run a successful small business for 40 years and June 1 I'll be "dropping the mic". I have been relatively conservative for most of my life. So, I'm with you NO MORE! It may prove to be difficult (I'm very pragmatic) but I'm up for the new challenges on my reset June 1. I look forward to viewing more of your videos as they are super relevant to me!! BTW.. love your locations!
Congratulations on retirement! I found your comment inspiring. 40 years of running your own business is a major accomplishment, in my opinion. 😊
Love the frugal story at the end. My wife heard it and said to me: “That’s you.”
My “splurge” drink is unsweetened tea.
I hear your message. My issue is: I don’t believe the so called experts. Stuff is something I never needed. Less is best for me. When all of the basic living expenses got expensive, I was prepared. Taxes, fuel and food are tripled from only 2 years ago. I owned and operated two business’s for 40 years. Went through all the rubber to green cycles. I buy used, shop at thrift stores and travel light. Always did and always will. Good video. All the best.
I get it. It's all about making choices. I traveling back to Arizona where I live part time from Florida where I live part time. Staying tonight in a Motel 6 in a small Texas town, but decided to treat myself to a wonderful dinner in a pricey bistro. So there you go!
It can be hard to shake the frugal mindset, but this is a good message - if it brings you joy it may be worth it especially when you can. I have one more goal to hit next year and then I'll be both less frugal and more generous. Great idea to start a coding bootcamp to help others!
2 ways to skin a cat. My best friend is the most frugal person I know. He is 47, never flown first class and could retire next year if he wanted. I am also 47, never fly coach and sometimes private and have roughly the same net worth as him. After we finished our MBA, I left corporate life, started a business and he stayed corporate. Some years I envy him and some years he envies me. I tend to be frugal on items I cannot write off. The tax system makes it really hard to get wealthy quick. If not for taxes my net worth would be 3-4 times higher and now that I approach 50 and a recession is looming I sure wish I could sail off into the sunset with a larger cushion. Most expensive thing I splurged on: 2 year sabbatical traveling the country with our two young kids: worth every penny.
You made me laugh out loud with your introduction. I haven't bought a soda with a meal in... forever. The issue I have is, I love saving money; in any way and form. I was forced retired last year and what I struggle with is spending my years of savings; very large savings. There is a difference between frugal and cheap. Maybe we need to discuss that difference because I am accused of being cheap, when I am just being frugal. Because I my cheapness, however, I am well to do. Often I am the richest person in the room, but no one knows it. To me, that is the best feeling. BTW - I am married to my high school sweetheart 45 years. I do have 3 adult children, all educated, 2 with masters, and 7 grandchildren. I did live life, but one the frugal side. Will I stop being frugal - NEVER! (big smile)
hey. I'm not sure why you associate frugal with NOT buying soda. Isn't soda "sugar water" and processed chemicals with no value to your body? I don't intend to offend: Maybe you are only frugal comparatively? If you drink any liquid, with a meal, restaurant or home, your body can't effectively process the nutrition from your food. I'm not sure a frugal person can not know this. Perhaps if this is true (maybe my doctor is mistaken or something else) it means your children and grandchildren don't know it either. Please assume I am a troll but consider checking it out: Drinking soda with meals MAY lead to any number of bad results and MAY cause degenerative disease. Please read this again but substitute "any liquid" for soda. Best! I hope I am wrong.
I only get tap water, never a pay for drink.
I love the frugal attitude. I spend money on things that are important to me and my family or things that will improve lives. But if it's not important or impactful, I'd rather save the money for something that is.
I'm breaking my frugality cycle, now that I'm 55, have invested well since age 21. I'm taking more vacations and trips. An American expat living in the Philippines, I am on 1 week holidays to Europe and USA every 1-2 months. I often travel solo but I lined up a special holiday with my daughter to Scotland for this December. She doesn't make enough to fund a vacation like this, so what a way to reconnect. I've always been a tipper, but I'm tipping more, especially if the service is deserving. No more cheap beer!!!! I drink much less nowadays, but when I have a beer, it ought to be a craft beer or a stout or an IPA. Quality clothes that travel well, wrinkle less, and stink very little. Thanks for your motivational videos.
It's because of all those soda's not ordered you would be able to help your daughter with a $5K expense. Really enjoy your content!
No it’s not. You can’t opt out of paying for sodas and accumulate $5k. That’s no better if a claim then believing the 2020 election was stolen. It just make frugal people feel better about being cheap.
I enjoy listening to you Azul. I'm approaching 50 and all sorts of existential thoughts are popping into my head. So I'm on a kind of journey for physical and mental health, to shed a lot of bad habits and to be who I know I should and want to be. Listening to you is very helpful - thank you.
Thank you for your videos Azul. Love watching all of them. I’m almost 45 and mowed our lawn since 2009. Not only to save, but because I enjoy the process and the outcome. My partner also started cutting my hair since 2018(she cuts the back and I cut the sides & front). Every time I tell people that they are amaze! And besides it’s hair. It’ll grow back. I have not bought clothes & shoes for 2 years! I have plenty to last me a lifetime. I too refuse to buy a car. Love not having car payment🤓. Instead, I bought my dads 2006 Toyota Corolla, which thankfully he maintained really well. And just to add, my parents are retired living on a fix income they certainly don’t need 3 cars. Less upkeep etc.. I love being frugal. I’m confident where my money is going instead of where it went. And that my friends is financial freedom🥰
Thank you Azul for your videos . No point to be frugal, if you do the math and it's a positive result. Also there is no point to turn 180 degrees and to spend endless . For me the answer is clear : if I feel badly the need to spend for something, I spend without hesitation. But if I don't feel it very much, I don't do it.
Azul, I enjoy how you don't dwell on only the financial but the deeper nuances of retirement life and prep.
My daughters (who are now 49 & 50 years old) still like to tease me that they were only allowed to order 2 things when we occasionally went out for fast food. Either a sandwich and fries or a sandwich and drink- but not all 3 (like their friends were able to do). The reason truthfully was that could never finish all the food when they got 3 things. Food waste and frugality have always been important to me. I pointed out to them that they could share their fries and drink and then there would be no waste but the generally declined to do that....whatever.....limit 2 things each was in place for many years.
Like many other commenters, I've always been frugal. I'm retired, have a decent-sized 401(k), have a side gig that pays my bills, and am waiting until 70 to claim Social Security. But, I figured out that Social Security alone will cover all of my expenses and leave a good bit to use for whatever I want to do. It's so hard to break out of the frugal mindset though. I don't even get water with a restaurant meal - I always cook at home. I don't even order pizza, I make my own (and it's good). I'm trying to take those small steps, but it isn't easy to break lifelong habits.
Another great video, Azul thank you. I am just shy of my 64th birthday and I was just laid off, so I’ve been listening to your videos. I have been thinking more about frugality myself in light of my current situation. However, the point you raise about not being frugal about everything is a good one, keep up the good work on your channel. Hello from Minnesota:)
I subscribed and checked all the boxes!
I’m a CFP still working at 63 but planning on retiring in two years as I planned.
I love seeing your vid bc you seem like a great person and love seeing you giving good advice to people 🙏
After watching a few of your videos I decided to subscribe. You are inspiring - I'm nearly 60 and ready to retire. You usually tackle a subject I find myself worrying about. Love your perspective!
It is funny you mention grass cutting and snow blowing. I have always paid for this because I did not have the time. I am excited to be able to do this myself, not to save money but to feel the satisfaction of a beautifully manicured lawn. Sometimes thoughtless jobs are the most rewarding. Great channel, look forward to your stories, keep them coming!
Your still a PUP ! I'm 68 retired somewhat a few years ago.The thing that bothers me the most is the cost of paying some one for things that I used to do myself all my life. And worrying about major repairs as I own a single family home on the Jersey shore .It will take me weeks or more to finally hire someone to do the work,depending on the urgency of course .Got used to adding the recovery time into all large jobs .And most of all don't want to lose my DYI savings on doctor bills! Great site keep up the good work!
Been a subscriber since about 7K as well. I promote you every chance I get.
I also try to watch the commercials and not skip them, so you get full credit!
Great advice from a real world perspective.
Azul, I have a funny story about me for you. I used to run a fancy store in Boston and sometimes young men would show off their "wealth" by throwing their change on the floor or street. I'm not a religious man, but one day I made a pact with our maker that if I picked up every coin that I found in the street, He would make me wealthy. So I picked up every coin, even pennies. Years later, as I was walking to my lawyers office to complete a valuable real estate lease, I spotted, buried in the hot tar of the city street, several coins. Of course I got out my handy pocket knife and as I was digging the coins out of the hot summer tar, I thought of my wager with our maker and I smiled. Yes I had been saving discarded coins for decades and now I was reaping my reward with a substantial lease that would end up making me a wealthy man.
If I see a coin, I leave it so a child can have the joy of finding it - unless I need a lucky penny. 🍀
me too!....i say lm too busy to spend the time and too rich to bend my sore back!..im tight with everything but loose change!@@genxx2724
When people first retire they tend to be very careful. Over the course of time most of us learn to spend more freely.
We are now spending a lot on travel, which we enjoy. This is not a dress rehearsal, this is the main event.
Azul you are my pre retirement guru. Financially independent here but need to tie up some loose ends before taking the step to the next level of life.
Boy did this resonate with me. Very frugal my entire life and struggled with not much in the way of financial resources but now in our mid 60s we have achieved financial independence and are trying to learn to enjoy that blessing but it can be a challenge to change old habits. But next month we are doing a river cruise on the Duro River and visiting Portugal and Spain. We’re flying business class for the first time!
Have a blast!
You mean business
@@tonyqwabe5873 now Tuesday we are off to the Adriatic for 3 weeks with Viking flying business class! 🛳️✈️🛫⚓️
I love hearing about wealthy peoples frugality. I’m totally envious and happy for you at the same time.
- If it truly brings you joy then work to attain it because life is short. The tricky part is being able to separate the excessive,wasteful purchases from the ones you truly deserve to enjoy .
The prepper community frugality is the way I've lived most my life,and still lived comfortable as I do now.I also am class of 84,Life has just begun.Have fun sportscar,hot chicks,sleep in once in a while what more do you need,own your life.Your Golden.
I came to the same conclusion several years ago. My kids don't need my money and don't expect anything when I die. My oldest has asked that I don't leave a lot of debt which she knows I wouldn't anyway. I've been debt free for years. I have found it's not that easy though. Being frugal is in my DNA as I'm Scotch! I am changing the way I grocery shop and not always buying the cheapest and quit buying stuff just because it was on sale. I don't know how many times I would have liked to go out to eat or had something different but I had a freezer full of sale items that needed using. I don't do that anymore!
Oh, "Scotch", thought it was "A Scott" Lol
@@southbound1969 It is, used to be Scotch and I am Scotch lol!
Why would your kids care about you dying with debt? It’s not their debt or responsibility
@@PJBHolden I don't know, good question. She has just always said, "don't leave a bunch of bills." I guess if someone told her I owed them money, she would pay it.
Same age as you, and trying to be less frugal but damn it's a hard habit to break. I've been on a farm my whole life and have scottish heritage so frugal is an understatement , even my friends make fun of it, was widowed 3 years ago and it gave me a reality check that life can be short so I bought an adventure bike to make myself get off the farm which is hard as I'm an owner operator with no staff. I'm also trying to figure out ways to buy time such as paying contractors to do some time consuming but not expensive work and upgrading machinery thats more efficient.When I'm on the road with the motorbike I'll mostly sleep in a tent but then I'll go to a nice restaurant for a nice meal, and spend on attractions that bring pleasure, still enjoy being frugal but making a point of doing things that bring me pleasure. Your videos are great.
Keep up the great content, Azul. I am 54 and retired from public service. I still cut my own lawn although I am considering hiring someone as well. I am fortunate enough to have retired at age 52 because I was frugal most of my adult life and I am facing these exact challenges. Thanks for the advice and motivation to do so. By the way, I still drive a 2001 Ford F-150 but am currently looking at buying a new vehicle although paying 60-80k for a new truck is outrageous if you ask me! LOL. Also, just so you know, if you fly first class, you will never go back. Kind of like getting a balcony on a cruise ship. Once you do that, there is no going back to an interior state room or ocean view room. Continue enjoying life my friend!
Thanks for keeping it real and not spreading more fear about retirement. There are very few of you advisors out there making it sound possible. We are planning on retirement (at least part time) this or next year and not old enough for ss . With my husband's pension and selling our house in CA and moving to TN where our daughter moved that should be doable. We will eliminate a mortgage and have some left over. We have no other debt and I have a side business building/ redoing and painting furniture etc . Fingers crossed ! 😊
And we have no State income tax in TN!😊
Best wishes
You are a very attractive woman
Plenty of sales taxes and zip gun control. Can keep that self Buddy.
Love your videos. I am 50 and you have me thinking about early retirement and planning for 55 and out!! I would not have been thinking about the final 5 years being so important without your influence. Keep up the great work
The timing couldn't have been better. I am working on the same thing after years of being fairly frugal (not intensely, but probably the most frugal in my friend group), and now it's time to reverse the mindset so that spending on the right things (and we decide that for ourselves) that bring joy is so important. But I do struggle chaning decades-long habits. I have been trying to use this mantra: if not now, then when? You see people who did not make that mind shift and then leave us too soon without savoring the fruits of the labor. Great message, thank you.
Been retired little less than a year now. I am 59 and some change. My wife actually booked 1st class trip on our last vacation. I told her do not tell me how much it is. I will wait til AMEX bill comes. I do still cut my grass and actually cut a neighbors for a few $$ and help maintain her lawn. Here lately I have been driving her to Dr appts because Dr,s have told her no driving right now. I actually enjoy helping her that way. We still kinda live frugal tho and are trying to get past that.
You are a dear man. Thank you for sharing your wisdom and a little bit about yourself and your family. Your videos bring me joy :)
Hi Azul. Love your channel. People who grow up poor as adults are either extremely cheap, frugal etc. OR they are ridiculous spendthrifts. I am 65 and I have owned only 5 cars in my life. My husband was brought up similarly as me, but he loves shopping, and changes out cars every few years.
Not trying to take a dark turn, but children who grow up in abusive environments either repeat the cycle or they are the complete opposite. We are shaped by our environments.
Thank you, Azul
I get joy from mowing my yard and snow-blowing my driveway. My kids have been gone for almost 20 years.
For the most part we are all looking for value with our money.. Spend your money if you feel you are getting your money's worth. But nobody likes being ripped off.
Reminder, if you don't fly first class, your kids will!
Azul, Commenting just to say I really enjoy your videos. My favorites are about the psychology of money like this one (enjoying life!) And I found the super tactical one where you described using filenames and folders to manage your HSA reimbursements to be very helpful. You seem like a great guy and I'm enjoying our walks! I like each video and subscribed in order to share the good energy you are putting out there. Thank you, and to all viewers, may you be rich in all ways!
Makes sense Azul. We all need balance in our lives.
This struck a chord. I’ve been living on fresh air since I retired early and unexpectedly 3 years ago. I don’t eat out, buy new clothes etc but surprised my son with £2,000 to help with house moving expenses. I don’t want to be remembered as mean and I know I could have done with funds when I moved house.
I could relate. I’m also 58 and retired a year ago. I’ve been frugal all my life raised in Cuba. Poor. Now i have more money but I travel a lot so i steal have to be frugal so my pension last me. Thank you for the program.
Love your videos, Azul! Hoping to be as happy, healthy and generous as you when i am your age. I think watching your content will allow me to be one step closer.
Very good advice. Good background as well.. far better than lo-fi background music. I never saw it as buying back time, but at 34 probably more like making things easier on myself. Why would I put a 9-5 on my shoulders + making meals + cleaning? No thanks! Have someone come by to clean. Try to wfh if youve got a family established. Increase time and quality for things you like and decrease time spent on things you can easily outsource
I too am frugal, also part Scottish (deep pockets + short arms) and I admit it. Like many, I inherited it from our parents who were children, post-depression era.
While there’s no easy way to re-wire oneself, we can learn to loosen up on some important things, like when it relates to creating experiences.
That will be the blessing of our standard of living actually increasing once we fully retire in a couple years.
I’m a Scot too, I think I inherited a knack with managing money
I’m not a Scot, but I spent a lot of time with my Depression-era grandparents and I’m frugal. When I retire I will also have the ability to spend much more.
To M22 your Scottish (deep pockets + short arms) is so funny LOL ... I've heard this one ... "throwing nickels around like they were manhole covers'
Growing up in the 70s and 80s I had a similar experience. Restaurant outings were rare, and when we did go it was no soda and no dessert. That’s just one example. I did not understand at the time but I do now. It’s interesting to reflect on the “frugality journey” over the years. It seems, based on my own experiences and observations of others, frugality evolves over time. I.e., what we choose to spend or not changes at different life stages. Today I’m finding I am more comfortable spending for someone else to build a fence, make a home repair, etc., instead of me doing those things as I’ve done over the years. It saves me time and energy that I can instead spend with my son. ❤️
I subscribe to your channel, Azul, although I'm sure we are NOWHERE in the realm of most of your subscribers financially, but I enjoy your content even if it rarely applies to me and my husband. Our financial planning would probably make you cry, as we really have no investments, and virtually no assets (except for our home, which we own), and we are debt free. Even so, your content is great, so keep on keepin' on! Thanks!
If you are debt free you are probably ahead of 75% of the US!
Great advice!!! I'm still a few years out from retirement but just paid cash for a new tesla....and show up at my favorite coffee shop in crocks and old t-shirt and shorts....because I just don't care what I wear, I'm not hunting for anyone/thing, lol.
Time is the MOST valuable thing I have north of 55...dear wife and I were hyper frugal for decades....decades of 70hr weeks running first one business, now two. Finally I'm moving more towards "things that bring me joy" and no longer worry about something that costs $5, LOL...Life just gets better and better! (excepting physical limitations of course....time for still more exercise!)
Azul I'm still frugal. But we have decided to take inclusive family trips and make memories. Instead of giving stuff.😊
Enjoy your videos. My wife and I decided when we travel internationally we travel business class. We find it’s actually more cost effective and enjoyable to arrive to our destination completely rested and hassle free. Having flat bed seats on a 171/2 hour SFO-Singapore flight is the only way to go. And if you shop carefully it cheaper than you think. Cheers!
I absolutely love that story! It brought tears to my eyes. From a frugal Mum whose kids also had water 😂.
Love the videos.
I am fortunate my sustainable living style saves me money. It's crazy how little you spend. I hardly ever eat out and I find the food I make tastes better. I grow 60% of my food and nothing beats fresh picked salad from my garden! I always recommend giving to the less fortunate. What you give comes back 10 fold.
Just really found Azul in the last month or so! Really enjoy his advice - we are of a similar age and I think he gives pretty sage advice!
When you're on a plan for "early retirement", a big part of that calculation is picking your spending level. Because of the leverage of higher income at the end of career and the potential investment returns on a mature account, it takes a surprising small additional work time commitment to increase your retirement spending level. I worked 2-3 years beyond covering a "basic" retirement and probably doubled my "safe withdrawal rate" by investing that additional amount of time. For me, that was worth it. I retired at 62 and I'm not rich, but definitely not frugal, spending ~$100K/yr as a single guy.
Thanks for sharing your life with us! I just found your videos a week ago; gotta love the TH-cam algorithms 👍👍 So glad they did! Your positive outlook and straightforward approach to life and money is very welcoming. Looking forward to watching more!
I’ve been into minimalism/frugality for a number of years. It has worked great for me and put me into a very good financial position. But I just listened to the audiobook Die With Zero. It was excellent and gave me a new perspective on life and my hard earned money, that I really needed to hear. I highly recommend it to all.
I can totally relate with being frugal. I grew up on a farm in the Midwest during the 80’s farm crisis and it was the only way I knew. Still working on changing those habits! Life is good, I am happy and spending money doesn’t make my world go round!
Love listening to this . This is exactly who we are. Need to learn how to spend on ourself. Giving to others and specially kids - never an issue. Spending on ourself if a problem.
I can never bring myself to order a soda with fast food🙂. I was not very frugal in my 20's and 30's and I did buy alot of cars, but I don't really regret it frankly, I enjoyed them. I'm on track saving more the last 15 years or so (I'm almost 57). Thanks for all your relevant, interesting content.
It’s either a beer or water for me. Has nothing to do with the cost, just what I want to drink.
I buy a lot of notebooks, pencils, pens, markers, and some “fun” backpacks ( and healthy snacks ), and I stuff them for needy kids in the late summer/fall for the up coming school year. I give them to the counselor, to distribute to children she knows will need them at my former middle school. ( I’m a retired teacher. ) it makes me happy. Maybe something like that will make you feel joy too.
Such a wonderful thing to do. Years ago, I worked in an elementary school and a little girl showed up her first day (she was living in a shelter) with a new backpack filled with wonderful supplies. She was so happy she was practically floating. I was wishing the whole time the person who bought the supplies could have seen how much joy they gave her. Thank you for what you do.
That's a great practice!!! You've got me thinking I may need to do the same. I live in the Philippines and many children can't go to school because the parents need them to work the fields or stay at home and watch the younger children...terrible and sometimes inescapable situation. Backpacks and school supplies would ease the immense financial burden on some of those local families that can at least afford to have their children absent from home during school hours.
Just paid off the farm I'm 35, wife is 27. We've got 500k in retirement right now. Hoping to have a few multiple million by your age maybe 4-5. Have a good day! great content Azul.
Being Frual is a game though.
Its facinating working with people who are frugal and with people who dont give a crap on the price and buy what they want(but they live paycheck to paycheck)
You are simply a smart consumer. Spend money on experiences (which stay with you for a lifetime), rather than blowing money on trivial in the moment wants (soda).
I think like you. Sometimes, to others, I seem to throw money away, other times, I drink water at dinner, and use a coupon. But, I still give a 25% tip for good service.
The old timers called it penny-wise, dollar foolish. Pennies add up to dollars, which you get to spend like a drunken sailor on pleasure and buying back time.
Hello Azul (all), I will be 59 next month, and after a few months of waking up early, wearing the same clothes (work from home), decided it’s time! I’ve worked for the government for 35years, been blessed to travel the world, avid runner x29 years, in good shape. But now after listening to you, confirms it’s time to pivot. The 5,000-10,000 week analogy is true and has struck me in a positive way. My plan is to pay down my house, continue to do my online ministry wherever I am on the planet, and take on a fresh approach on life. I also volunteer so I believe your posts are a wake-up.
Both my wife and I are pretty frugal. Yes, we treat ourselves to nice vacations and experiences, but are careful about things like our housing, cars, bling, etc. Being frugal is what has set us up for a very comfortable retirement. We'll be pulling the trigger on retirement later this year, and I do know that we'll both have to work hard to start spending in our retirement vs. saving for it. I suspect we'll continue to be frugal...
I really enjoy your videos, especially on being frugal because I'm guilty of that! I confess that I'm 65 and I've never spent $100 on a shirt, but I have spent just over $100 for a pair of running shoes. And I plan on using them until there isn't any upper structure left to the shoes.
Running shoes wear out, both the tread and the supportive and shock-absorbing structure in the sole. Damaging your spine, knees, or hips isn’t frugal. It can disable you, and you won’t be able to do the things you want to do, for the rest of your life.
@@genxx2724 Good point. Health and those joints are worth the cost of protecting. Well-built shoes make a big difference. At 65 I still put in 150+ miles per month so I actually own plenty of nice walking/running shoes, possibly too many. 🙂
I love the story at last …. Soda vs funding 5k to your daughter.. I do it all the time sir. Thanks for sharing it, love it ❤
I've started to do the same thing so this is good reinforcement. Although, my list is quite different from your list.
Diggin these vids - I'm 59 and retired at 55 still with 4 kids in the house and now 1 out of college, 2 in and one still in high school. Been fun learning how to navigate this new chapter and we're well planned and and financially savy so going great and COVID was a true test of the our Plan and feeling solid. Thx for the interesting dialogue.
So what's your point?
Azul, I so relate to the story of you and your daughter! I'm so much happier spending money on my children than on myself, even though they tell me to change. The joy it brings to parents like ourselves is literally priceless.
P.S. I hope you save all the extra sugar sachets they give you at cafes and restaurants :)
I've been driving myself nuts with the question as to when to retire. I want to do it now, but my FP wants me to work to age 70. Sure, $300 extra bucks would be helpful, but in my heart I know TIME is the only issue. I like your spiritual bend on time.
I think there's a difference between frugal and cheap. To me cheap is always going for the least expensive choice to the point of depriving yourself of things you like. Frugal is prioritizing your spending on only the things you absolutely love to do and forgoing spending on things you can live without. Now we know you can't spend your money on all the things you want. That's how you go broke. But you can chose two things sometimes 3 or 4 if your salary supports it you really love doing and spend in those categories.
For example if you love spending on cars and vacations just know other areas like housing and eating out will need to be lower. For those who are foodies and love trying new restaurants and foods maybe they reduce their transportation costs by buying a used car instead of new. That's how I always viewed this.
Good spending is proper food which costs money generally, getting priorities sensible trading transport to eat out sounds off balance to me -
what do you reckon I use my $2.50 seniors public transport pass to save money for a gambling outing ? Cheap , frugal or something else ? ,
my car is 21 years old purchased brand new for $21k i was employed then.
Be as generous as you sensibly can with your money to help struggling family members.
Hey Great Vid!! Truly enjoy!! My low miles 2005 Toyota- Some of my neighbors feel it is a luxury car- and it is!! Great sound system and powerful AC. All the electric works. // A client bought me some VERY high quality shirts. In 2002- Three of them are still good - and my fav is bright red. Serious Frugal- I feel you aren't: IF you get nutrition from your food. If so, AND you drink liquids with the meal, your body doesn't process the nutrients in that food. IF you are indeed Frugal- you will act on this: It will come to you like a second nature. / it has to do with PH: Stomach is acid, pancreas squirts bile, base: Liquids prevent this while food is in the stomach to process. Your body signals: No. Forget it. He just flooded the whole place with liquid. So tell me: Are you frugal or an imposter-frugal? Thanks again for great vid!!
I am 67, retired since 2017, was a single parent that raised 1 daughter without child support because I made good money in aviantion technology and was always able to give my girl a stable safe house of our own. I successfully educated her to my own practical frugality of what was worth spending more for, good shoes, health care, education and appropriate clothing. Together in my last house, she and I replaced all our windows and rebuilt the main bathroom from the studs out. As an empty nester now, I am still reluctant to pay for any home repair that I can do myself with a little labor borrowed from my girl or her fiance. Together the 3 of us saved me 6K by fixing, rather than replacing, a 3 pane sliding glass door. We also fixed her hatchback lift door for $25 in parts saving her hundreds in labor from a shop. With the money I saved being my own repair person, I had enough money to choose and pay for premium lenses for my eyes when it was discovered I had cataracts. Since I'll never need glasses again, I consider it a bargain.
I have been enjoying your videos.....We are very like minded...and...have the same upbringing...Thank you for your reinforcement of my core beliefs......
We don’t order soda as well - not just because of saving but we would rather have more food then a just sugar water + for health too.
Once you are able to retire, enjoy life the best you can truly afford, because “one day, you’ll be all out of somedays”………
Hi! I'm from Singapore and yes, I'm proud of our airport 😊😊
We work hard in our careers so we can be more comfortable in retirement. If you can afford it, treat yourself kindly and generously.
Some spending is a waste, some give you a lifetime memory.
Love your philosophy & joyful spirit. Thanks! So, do you ever think you’ll buy a new car? I’ve been considering this as a possibility lately, but it really “bites”! 😀
I recently "splurged" on a subscription to the WSJ, 2-year subscription to Sports Illustrated, and high-speed internet service and a Blink camera to keep an eye on my 86 y/o father.
Since I don't drive or own a car, my idea of not being frugal in retirement is taking taxis rather than always catching buses. Luxury indeed!