It’s such a blessing that my husband and I aren’t just married, but we’re also each other’s best strategic partner in business. I’m great at what he lacks, he’s great at what I lack and we have an Adviser to work with. Praise God!! And thank you for the awesome content!!!
The only way I was able to scale through all of this without stress was by working with a financial adviser. My adviser *ROCH DUNGCA-SCHREIBER* has always had my back all through the process of property investment and investing in general. You can glance her name up on the internet and verify her yourself. She has years of financial market experience.!!!!
Ah..Moochers.....I had a friend whom once told me he needed to borrow money, not for himself, but for heat in the house for the children. he didnt need it for a few weeks. Then I found out about a job, serving coffee, and cleaning up after a party. I called him back with the exciting news, that he could earn the money by working 3 hours one sunday, and if him and his wife did it, they would have double what they needed. His response is still burned in my memory "you want me to serve coffee?". Apparently, he didnt need the money anymore.
He missed out on a good deal. I serve coffee/food at the free meal site. It's so gratifying. It's like being at a great dinner party. Feels so good to help out!
I hit a real tough spot back in 2017 and a very good friend of mine offered a loan. I was afraid I could not pay him back but I'd work for it. He found a lot of big projects that were weighing on him. we worked together for a good price. Found my way to a healthy existence and looking forward to a comfortable retirement in two years. The good friend? Still a good friend, and we barter skills. Just roofed his barn last summer, he's doing an extensive surface water plan for me.
Retirement becomes truly fulfilling when you possess two essential elements: simple financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. My question now is how to get a good financial advisor that I can invest with and have good returns before retirement age.
Amazing question, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $110k and in the first 2 months, my portfolio was reading $294,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
We quit picking up the tab for one group (family) that we frequently dine out with, they order appetizers and double order entrees (so they have meal for later time) plus they always have a pretty hefty bar bill, we’re more conservative no thanks, lol
These are great. I would make one caveat. As a roofing contractor I would add that it’s great to get several quotes however always make sure you are using a reputable company. We end up doing a lot of clean up from people going on the cheap. We often see people putting down payments for repairs or materials and the contractors run off. Also many contractors will do the work and not be back if there is a problem. You may have to pay a little more for quality work done right.
"Maybe we shouldn't buy that..." I love that quote! I have found that even though I love eating out, buying presents, and doing things that cost money for my grand-kids, that it is just as much fun to take them to the library and park, and then go home and cook a meal. They are also finding how wonderful it is to go shopping in a thrift store, because they find things even they can afford, and I am way less tense! Life is good! Also, most banks will notarize those papers for free if you fill them out as needed, and will witness those papers for free too.
I took my granddaughter to a thrift store and told her when we buy things it helps people buy food and clothes. She was so excited when she found a $2 stuffy.
With vacations - do slow travel. Don’t spend two weeks in expensive hotels in Paris, but rent a Airbnb apartment in an outlying village for 2 months, and do things slow, with spending close to your usual costs, then move onto the next country. Try East Europe rather than West, or try Asia.
@@BH-en3tg - most Italian cities are surrounded by smaller villages. Florence has several. The trick is to find one with a good train connection and charming enough to enjoy your off days.
There are some very sound and useful tips here. I do have one comment about the "organization" section. There seems to be a big anti-stuff movement, and I totally agree with not cluttering your life and buying many useless things. However, I think this concept should have a stipulation in that this is not a smart move for everyone. My wife and I have worked high tech jobs, but lived in rural settings. When you garden, keep livestock, etc - there are many items which find a use at some time or another. Also a true statement for anyone into fixing things, woodworking, crafting, etc. It would be hard to calculate the value over the course of my life of keeping pieces of wood, hardware, etc but the $ value is very significant. When our careers ran out of steam in our mid 50s we were able to transition to retirement pretty easily and, in no small way, our ability to be resourceful/handy is a huge part of our financial security. Of course, if playing golf and living in a bungalow is your thing, by all means streamline. Just saying there are potentially different paths when it comes to "stuff" for some.
We hold the same value system, but have different interests and are ok with doing those things with others or alone. That adds to the daily conversations as well.
I use retail therapy to keep my spirits up. But exclusively thrift stores. At one thrift store in Colorado I bought $500 worth of jackets (2 ski, 1 denim) for a total of $13. HOO-YA.
We recently bought a small beach home in SC. As we are retired, we have a lot of time to spend there. I made a calendar up for ourselves and put OUR dates for use on it first. Then if our family or friends ask if they can use it, I can see if it is convenient for us first. Sounds somewhat stingy; however, we are the ones who saved over the years in order to afford it so we should get first pick. Then we can decide whether to allow someone else to use it without saying yes to a request when we really want to say no.
Unless you are very well off, would suggest charging f&f modest per day fee for maid/cleaning and utilities. IE, hard costs- not profit to you. If they don't like that, you know everything you need to know. Why should you subsidize their vacation expenses? You're already saving them on lodging when you allow their use.
Some of these things are simple, but yet essential. I've done many of them before retirement. The key themes here are preparedness and simplification of one's life during the golden years. Thank you.
I have one friend with very little money, so I used to fall into paying for her part. I don't mind doing that occasionally, but now, mostly I ask her to do no-cost things like go to a state park.
Hello Janet , This is your friend with very little money. I’m using this nice gentleman’s you tube account since I can’t afford one. Thanks for telling everyone I’m a low life user.
can't stop watching this video, because of what I have gone through in life and my current life situation. Becoming rich depends on your determination.
I've been retired 20 years.I'm 69. I've been around the world 4 times and I'm never bored. I had my 30 years in and ran from my job. I know I'm lucky and I don't squander any of my time.
I really like how you address the "Professional Moochers" problem toward the end of your video. Over the years I've seen them hurt quite a few really nice people whether they are retired or not. THANKS!
Thank you that was great I agree with all 10. You may consider adding number 11 and that would be: Pay yourself first. This concept goes beyond managing your finances well it's a life habit that once learned should never be forgotten. Many people follow this rule/habit to get to a successful retirement... but it is important to keep it on the front burner after you cross the finish line and enter retirement. Thank you again .
Retirement to me means not working a full time job. I tried full retirement and about lost my mind. Maybe someday but no way now. It’s a mental thing with me. Great video!
I’m in the UK ,and the advise still holds , all very good , although the best advise would be live in a 2000 world with a 60,s attitude . Keep it simple .
I’ve always gotten three quotes on big expenses, like buying a new HVAC system, etc. I learned a lot and saved a lot of money. It seems every HVAC guy has a different way to approach how they repair or replace systems and the only way you can learn about it is by talking to them and asking them lots of questions when they’re trying to get you to spend five to $12,000 on some thing, they will certainly take the time to answer your questions.
At last...a video that lives up to it's name. Very good practical advice. Half of what I started doing about 6 months ago. I'm semi-retired and not sure when I will retire completely, but likely in the next 1-2 years. I'm a little scared to quit because I can't go back if I get bored. Been working only 24 hours a week on average now, and not sure if I need more time off. But something tells me that I will enjoy it.
Thumbs up to most of the 10 things. Actioning your point 6 would be to use your phone for point 9. You can search the calendar, have an alarm for calendar events, share it on your computer and it fits in your pocket or purse. Point 10, if you live comfortably, I think paying for an evening is one of the best feelings of giving back to friends and family -- don't be cheap.
Phone (and computers) can work great - until it dies unexpectedly. I was converting to using phone with 'paper' backup when my phone *and* c drive on my computer crashed within 2 weeks of each other! What are the chances? Anyway, glad I had the physical date book backup. "Keepin' it old-school" 😉
I just retired from the US Navy after nearly 30 years. I am a Family Physician and will work for the next few years. I actually just bought my forever home in Florida and I attempt to pay it off sooner. 15-18 years versus my 30 year mortgage. Maybe sooner.
Always an enjoyable and thought provoking analysis. In our particular case, I can’t say that we have ever encountered professional moochers. Perhaps we don’t socialize enough! On the other hand I would expand the “exercise” category to include eating habits and alcohol consumption, and clump them into what I’d call lifestyle habits. It seems like an overwhelming percentage of retirees fail miserably in this category from our perspective, and subsequently suffer all sorts of chronic illnesses……
Very good information, whether you are getting close to retirement or not. Hearing these specific life issues helps you to focus on them and gets you to really think about how each impacts your life.
I set my price of what I’m going to purchase large I give the dealer what I will pay and if he doesn’t want to make the deal I always tell him that somebody will want my money and I walk away and 90% of the time the will follow finically changing the price to closer to what I have offered and I hold fast to what I offered and never get into a rush time is on your side not theirs because inventory cost them money the long they hold on to the product..
We enjoy gardening in our community garden, seasonal birding, walking our dog, photography, spending time with our granddaughter, houseplants, reading, cooking and managing our health. In SW Michigan a Living Trust costs $2,500 or more.
I don't go to dinner and wonder who is going to pay for it, no way. Most of my friends and I go Dutch. I want there to be an understanding before we've eaten all that food, and it's always more than you think it will be.
Was “happy” to realize I was doing 9 out of 10 suggestions already. I have been loving your videos as they pertain to my retirement which began in 2020. Thank you.
Exercise 2 x per day, socialize in person couple times a week. I do like clothes though. I have devices. We hire my son to do yard work while he is looking for another job. I will work on the clutter during the cold months ie pictures. During Covid did kitchen remodel and redid floors so ended up purging.
Yeah, I don't do moochers very well, to put it bluntly, I've worked hard for what I have. Not against helping people, but they have to be willing to help themselves in the process, if not well so be it.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?
There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser.
@@martingiavarini Definitely! All of this happened in less than a year after Catherine Morrison Evans told me what to do. I started with less than $100,000, and now I'm about 17,000 short of having a quarter million dollars.
So nice to hear common sense advice. Just had a conversation with my Dad about embracing technology. His life would be so enriched if he even tried to learn some basic skills. I will keep trying. It’s nice now that my Daughter is established. She and my Son in Law won’t let me pay for anything when we are together. I’ve helped them in the past but seeing them now, successful and thriving, is pay back enough. Wish they would let me pick up a check now and then.
This retired couple are hanging out with our country's future. We are heavily involved with the Boy Scouts. My husband is an area director at camp and I'm a BSA Girl Troop Assistant Scout Master plus an Assistant Cub Scout Leader. I'll be going to summer camp with my Troop.
From the look of things, It can't be overemphasized that, Cash is thrash! 3 BEST and surprisingly easy ways to double/hold your funds in 2021; Crypt, Real Estates, who can guess the 3rd
Has to be stock trading!!! It's been wonderful investing in stock after I met an expert from a reputable firm earlier this year... Retiring by next year with absolutely no fears!!
Wow! I know Rebecca too...she ripped off my grandmother’s saving account; had an affair with my grandfather and keyed my car when I ratted her out to the Feds...that b!tch is crazy!!
I'm not sure I agree about the smartphone. Retirement might not be the best time to embark on (what for some people will be) a new bad habit, stealing precious time away from other things.
Smartphones don't ruin lives on their own. Like anything else, smartphones, alcohol, guns, (in my case, aircraft) don't run your life if you are a well balanced person. You have to start using these items knowing the good and the bad. Not to mention, it adds a safety margin to an older person's life.
One thing to remember. If have all number stored on phone..Many don't have a clue if they lose or its stolen. Keep a card with phone numbers in case. Also if you have lunch and dinner with people, ask them to put phone down. Its just rude, they sit there and play on phone-what was the visit for?
@@jacklong7048 If its an android phone, you can keep your numbers backed up to Google. I'm sure iphone has an equivalent scheme. And I agree on the rudeness.
Great advice. I dream about throwing my phone away. It isnt a net positive. I can see why people would have them. I was happier before cell phones. Live within your means.
Really want to get rid of Comcast! I’ve got the cheapest plan and it’s still big bucks. Would really like to get out of Illinois property taxes are high but there is a really good school district. Just stopped cutting the grass.
You stopped cutting the grass? Isn't that a huge deal in your area? I've gotten rid of my grass and returned my front yard to natural vegetation, which is popular in the Pacific Northwest.
Presentation suggestion: you should relocate the picture behind you so just the plain wall, that way you are not sort of framed by the picture. Nice helpful and respectful videos. Cheers…
I want to travel. Overseas and USA. Maybe my next travel will be on Amtrak from one end of country to the other. Also want to visit South America Uruguay, India, etc. I am tired of being sitting in one area. I love train travel, stress free travel, driving on highway for 8 hrs is a lot of stress.
A lot of your advice here is for extroverts. For introverts we can't wait to retire and get rid of cell phones and stay away from people - no more office parties or fund raisers or any of that other garbage. Really looking forward to being able to stay away from people
Very good advice couple times I've now watched you but you're wrong about vacations never plan a vacation in advance especially during Covid I just came back from a vacation in Northern California if I would have booked it in advance their rooms were $350 a night. I got them for $89 a night last minute. Always book your hotels if you can the day of because they're trying to get rid of the rooms at a huge discount. I just came back from another trip Arizona and New Mexico for 9 days total cost was only $1,300 every room was a suite. Also I have an electric car Total cost after 2500 miles of travel $110. I think it's time to look for electric car.
Thanks for the great advice. We've been doing so many things wrong since retirement, and Covid-19 has made things even more difficult. Socializing, travel, investing, shopping, etc. have become so different than most of us could have predicted. Extreme political views really put a strain on socializing too. I still don't think we'll ever recover many of the lost relationships resulting from that. Ethics are more important to me than I had realized before. Getting organized, 80/20, and the 18-month calendar are things that I will strive to implement. (Getting organized will be the toughest...)
We feel the same way. Ethics are very important to us and we find there are things we will no longer tolerate. You don’t get to choose your family but you do choose your friends. We jokingly say we don’t know how we ever had time to work. I never understood those who are bored. Have a blessed day.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough savings during their active years. Retirement choices determine a lot of things. My parents both spent same years in the civil service, but my mom was investing through a asset manager, and my dad through the 401k. My mom retired with about ‘4.2M’, but my dad retired with roughly '$1.8M’.
For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.
It depends on your personal preferences and comfort level. However, one option is to keep things simple and consult an asset manager. They can help you determine your risk appetite, avoid common mistakes, and provide a broader perspective on your investment landscape. I have about ($1.25m) in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little in retirement accounts. To be completely honest, the information provided by managers can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I don't get a professional to do my landscaping. i do it myself. That nails the exercise thing. I also do other people's landscaping and other home improvement schemes. That keeps me flexible and empowered. In other words, I don't actually bother with the retirement thing at all. As for a phone? Not interested. I had one for a short time and it was a pain in the rear. It seemed to constantly want to sell me something, or give my number to someone who did. Most inconvenient.
Save your $22 on your calendar. In this video just before you mentioned learning to use technology, well your phone has amazing, easy to use software-starting with a calendar and gravitate to spreadsheets, planners, note makers, travel organizers and literally a million other apps that will make your life easier. Not necessary to buy a calendar anymore.
This post is for the younger generation. I was naive and generous. Paid for fallen people, meals, parties, gifts, loans never expected to be paid back. Built two husbands; the second a white collar criminal, turns out. Couple of million given. Where are these "friends" and second husband now? At least I have my child and health and vitality and earned wisdom.
I have some retirement planning to do which will require a lawyer. I’ve been thinking about creating a couple of trusts for several years and have written some descriptions of what I want to do. One guy took my printout, didn’t get through the first several sentences, announced he knew what I wanted, then tried to sell me a pre-packaged deal he had undoubtedly written himself. What he presented had very little in common with what I wanted. Another lawyer made it clear how inadequate I was, then made it equally clear that I knew more about some aspects of the law than he did. I now have a referral to an expensive lawyer. How should I do this? Should I write up everything I want to do, show that to a parade of lawyers, then try to find one who actually reads what I wrote? Getting three quotes from people like this seems to be asking too much.
I don't worry about celebrations as presents are expected. Too old & costly when one has no income. To keep up to society was never in my retirement plan
The benefits of NOT needing to be excessively social: 1. There isn't a stonking great bill at the end of the evening. 2. You get to spend time on self-improvement and your own interests rather than hearing that tired old boast for the umpteenth time. If you must be with people, be with people who get together with something new to share, after an appropriate period of preparation and practice. In the end it comes down to: your best friend is your engaged self.
I hope you know that you already have a 12 or 18 month calendar in your phone. Why would you buy and carry a hard calendar/planner? Didn’t take the phone classes you recommended?
FREE THE MIND 1. Set up medical power of attorney. a Will, Trusts. 2. SOCIAL Participate in things; card games, golf, dinner, etc. More social = more happy. 3. Get extremely organized. Get rid of junk. 4. Exercise 5. Manage time. 80-20 everything, time only on what serves you 6. Master phone tech; get skills 7. Use professional services wisely; accountant, lawn, lawyer, etc. MONEY 8. Get 3 quotes for most big things, i.e. negotiation 9.Plan way in the future. 18 month calendar; vacations, etc. things cost less if planned early 10. Ask, who owns this expense? Don't let people mooch off you. Pause, and don't answer quickly.
Thank you! So, how do I go about telling my dad I can no longer pay for his storage of old art equipment and crafts he's stored away? Over the last three years, the cost has gone up to $445.00 a month. I'm 59 and planning to retire at 63. I don't want to take this payment into retirment. any suggestions would be most appreciated. Thanks!
Please tell me what are 94 year olds going to do when they run out of money? I’m seeing this where I work. Retirees spending money. Things keep going up even in retirement homes. Medication and I’m seeing lots of hospitalization from falls. The dollar is worth nothing now because of the printing machine.
When someone says how much they would love to .... but just can't afford it, just Stay silent and smile Or Say, if you live simply, save and manage your money wisely, one day you will Or Change the subject in a natural way Whatever you do, don't take the bait. Let them learn to swim. Don't swim for them.