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“Don’t leave it too late to retire”; and “You can’t just buy time”. Completely agree. A close friend of mine retired at 69 years old. “Finally,” he told me, “I can do all the things I wanted to.” He didn’t get the chance. Cancer struck and he died a few months ago, aged 72. Thank you, both, for the excellent channel and advice.
That is a shame we are sorry, that’s why we retired when we could….early there are no guarantees in life. Thanks for your comment and watching our video.
Once you hit 60-65, you start to feel your mortality. You realize that the majority of your life is over and that you're not young anymore. Don't wait for tomorrow to start living your dreams. Today is the day to take that special vacation or buy that special car that you've always wanted or whatever it is on your bucket list. Don't keep putting off for tomorrow what you can do today! As they say, "You only live once and then you're dead for a very long time."
That’s so true thanks for sharing , we are so glad we did the river cruise 🚢 early and that we took early retirement have a great weekend Cheers 🍷🇺🇸🍁🍺🇨🇦🌽
I retired where I had worked for 34 years I am 62 but the reason I retired before 65 my wife has stage 4 cancer and she was given a few months so I am trying to help her now but difficult to think of alot of traveling
I am not feeling my mortality because I consider myself healthy, but I have made that realization already. And as Norm and Tina say, dont wait for your health to start to fail to wish and regret past decisions. I want to seize it all as soon as possible.
Absolutely the best advice ... don't wait!!! My Father passed at 64, just four months from retirement. I retired at 61 and Andy retired at 60 ... and we've been loving every minute on the road, as full timers, ever since! Your videos are very helpful to many ... we're so happy that you seem to be doing so well! Continued good health and here's to even better days ahead ... our love to you both!!! 🇺🇲 🍺🍺 🇨🇦
Wow sorry to hear about your dad but so glad you both took retirement and loving it , we know how you feel since we took early retirement moved down to our new apartment we were 58 and 60 and have never looked back . We wish you both lots of health and happiness and lots of great memories ahead have a wonderful weekend Cheers 🍷🍁🇺🇸🍺🇨🇦🌽
In the United States pensions are pretty much history. Most companies have 401k plans with a matching contribution. We also have available IRA Accounts. Then there is social security which you can start collecting at age 62, but at a reduced rate. Based on our date of birth is when our full retirement kicks in. I think the biggest thing is to be debt free. Great video.
I’m 61 and have been debating with myself whether to do one more year or retire now. You’ve helped me make up my mind to retire at the end of the current school year. I have some other creative opportunities that I’d like to pursue and I think now is the time to do it.
We so agree with number one.... dont wait too long.... retire when you still have your health! Love that you shared the concept of dont wait.... take the opportunity ~ Brad and Diana
Yes we agree, people think they have infinite time and good health but the clock is ticking down especially in retirement. Thanks so much for watching.
Thank you so much. i retired at 58-61, and at 61, I worked in another job, until 69. My bank does not charge a service fee. I moved to Mexico, when USA became too dangerous and expensive for my retirement. I am 79 now.
I live in the US and will get social security when I retire but a lot of financial organizations claim we may run out of SS payments around 2035. If that happens I’ll be toast unless I work the rest of my life.
Can we all just pause and say how groovy the scene changes are as each point is detailed in this video? An appropriate equation might be: Norm + Tina (or Tina + Norm, if you prefer) = extraordinary brilliance!😀😁
Thanks Richard glad you enjoyed it, we enjoyed making this wandering around the campground capturing the Fall 🍁season together with gorgeous sunshine Cheers 🍷😎🍁🌻🍺
Thanks, Tina and Norm! Great advice. And, you two look too cool in your “shades.” Tina resembles a mysterious celebrity! Great content as always, cheers!
I'm happy to hear that so far I've made the right choice; i'm lucky enough to have a company DB pension plan and I'm planning to retire at 55. I haven't put a dime into my RRSP in years and instead have been contributing to a TFSA.
Best of luck! bet you are counting down the days , our advice if you can do it sooner do it , you can’t buy time back . Thanks for watching and have a great weekend Cheers 🍷🍁🍺🌽
More great tips. Thanks Tina and Norm. Always look forward to your new videos. Have been retired for 10 months now and loving it. My wife and I will be celebrating our 40th next year and only wish we were comfortable traveling. We had hoped to do one of those river cruises as well but I think we are going to stick to seeing more of our own beautiful country for a while.
Glad you are enjoying your retirement, yes we understand how you feel we aren’t comfortable travelling at the moment either with all the Covid travel restrictions we also have been exploring our own Canadian backyard . Have a great week 🍷🍁🍺😎
That's a very nice video and I hope you will make more and give further guidance to others in or nearing retirement. We are in the UK and both now 80. I retired at 70, preferring to keep busy and earn more money for that long retirement we hoped for. We have had several cruises around the Med and actually did a river cruise but found that mot up o our expectations or to the standard of the ocean cruises we have done. The secret is to keep busy, have varied interests and enjoy going around together. That is what you are working towards. Hope you have many years ahead of you and look forward to seeing more videos from you.
Thanks for watching yes we think that’s a big part of the secret 🤫 to both keep busy and enjoy doing things together, we are enjoying our retirement and glad we did it early it has worked for us Cheers 🍷 🇬🇧 🍺🇨🇦
I am so glad that things worked out for you. I have a wife who is now 67 and has been bedridden for more than the last 10 years. It would be very nice to follow your advice but situations complicate matters. I also live in Japan which has a whole different set of rules.
Thanks for watching and yes everyone has different circumstances that you need to adapt as best you can to. Norm has visited Japan 🇯🇵 he liked it very much , we wish you all the best take care .🍷🍁🍺🌽
Words of wisdom for sure. My wife and I have been discussing early retirement for about a year now. We know our numbers now and can project what they will be going forward based on what we want to do with travel and all. Basically we allocate 20K to yearly travel. Being in the US, no pension, we have to rely on 401K, IRAs, and non retirement mutual funds or investments. Looking at those, they only need to do the major support for 10 to 11 years depending on when we pull the plug on work. After that 10 or 11 years we will be able to tap our Full social security which covers all our household expenses. Looking at things through that lens, it makes things easier. As more of our friends and family have been dying or having a life debilitating medical event occur to them, we are more on board now with DO WHATEVER YOU WANT TO DO NOW !! Don't wait. So we have set a date. Drawn the proverbial line in the sand. We are putting things in order and getting ready... Cheers !
Sounds like a great plan we wish you both well, very similar to us our travel allocation was $25K Canadian , once you have bridged that gap till Government money kicks in and yes it can cover all your monthly expenses. Thanks for watching have a great weekend Cheers 🍷🇺🇸🍁🍺🇨🇦
It is amazing what is out there as far as extra benefits are available. I will be sure to look into it when we retire Norm and Tina, a few years off for us still, but we are just behind you. you have done well. Cheers ~ Joseph 👍🏽❤️🤗🍻
Lovely to see you it’s amazing what you can get , in Canada 🇨🇦 we are not means tested for these benefits so life is good LOL 😂have a wonderful week Cheers 🍷🇦🇺🍁🇨🇦🍺
Hey Tina and Norm!! So great to see you guys looking all snazzy with your sunglasses and fall clothing. You're ready for Hollywood with those shades! Did you guys get a new camera? Butters parents invested in RRSPs back in the 80s, but they have changed their portfolio a lot over the years. But they retired at 55 and 56. These are some great tips and info to know about being 65 and your spouse/partner being 60-64 and the allowance! Love the fountain at the trailer park. That's great you took your 40th anniversary earlier when the opportunity struck, and that river cruise sounds beautiful! Thank you for sharing and we hope you have an awesome Thanksgiving holiday!! Love you guys to the moon and have a great day. 🌛🌛💖💖🥰
Hi Bears and Butters great to hear from you both , no not a new camera but a different lense we enjoyed walking around our campground with the beautiful colours of the trees .We just had a lovely Turkey 🦃 dinner with our son and family , the weather has been warmer than normal so we are loving 🥰 it . Hope you are both well and enjoying the weekend have a lovely week ahead Cheers 🍷🇺🇸🍁🍺🌽🦃🇨🇦
Carpe Diem is a major take from y’all. Set your sails and cast off if the breeze is right and the waters charted. The skipper and first mate might not have the same fine forecast and lucky stars later in the voyage e of life.
We wish you all the best , since we took early retirement our lives have been so much richer for US travelling, new experiences and now a You Tube channel which we never thought of doing till February 2019 when we decided to film us going to Portugal 🇵🇹 that was the start of This is our retirement LOL 😂😂Cheers 🍷🍁🍺🌽😎
Just found your channel guys with plans to drive down in November for 3 months in the motorhome cant wait to get there , both retired and looking forward to getting there .
My husband and I both have pensions and some in investments. He’s retired and I will be in about 4 years. We are really looking forward to both of us being retired and pursuing other things that we REALLY want to do!
Another is people who do not decide an annual income or have no idea how long the money will last. I know too many women who say when asked they will worry about that if and when it happens, which is probably too late.
That’s a great idea to come up with a yearly amount you need to live on , multiply by years hoping for in retirement gives a total you need . Take away what government money you get and you need to save 💰 the rest which by the way it is a lot less than all these financial advisors tell you that you will need . Cheers 🍷🍁🍺🌽🦃
Thank you for sharing your retirement info! You have helped me to get over my fears i had. I have made some important decisions based on info and experiences you shared. Especially the thoughts on aging and health. Thank you! I am looking forward to some new adventures!
Glad you enjoyed it we were walking all around our campground and the weather was gorgeous, have a wonderful weekend and thanks for watching Cheers 🍷🍁🌽🍺
Good content, thank you. Here is the US, I am converting my pre-tax IRA to a ROTH IRA over a 5 year period so as to pay my deferred taxes while in the lowest tax bracket my wife and I will be in. Given 85% of our SS will be subject to tax and believing US tax rates will increase over the next decade, the goal is to have the most after-tax income in retirement. Let's hope it works.
I plan on doing just that after retiring, as I think my tax bracket will be much lower. I am not of age to retire, but I do believe my job is ruining my remaining health. But I am petrified I will run out of money before I die, lol. I'll be 59 in a couple months, but I work so many hours, do too many high stress jobs, etc...but the salary, the longer I stay in, will increase my ending ss benefits as well as savings. Still, when house paid off (remaining debt), thinking of cashing in my chips anyway. I also have a LOT of hobbies I have no time to do, and family and friends I barely have time to see (100 hours a week). I took a week off recently to help my daughter buy and move into her own home, and clarity came. I was pretty much burnt out from work, slept 12-14 hours a day for the first 3, and then I felt like a new person. I don't think that's right, lol! So the comment about protecting your health resonates!
@@e-spy We wish you the best for your health however it works out for you ,and it’s great that you could help your daughter have a lovely weekend Cheers 🍷🇺🇸🍁🍺🌽
@@e-spy health is the one unknown factor in retirement. None of us know how long we’ll have good health to travel & do the things we want. We chose to retire early instead of later & are doing things we can while our health is still good.
I think I probably made most of the mistakes I should’ve avoided before retiring…You’ve given some good advice! I’m going to look into that allowance for my wife once she hits 60. I’m 12 years older than her so it’s gonna be a few years before she can take advantage of it.
So true Chris everything they gave me they took away from Norm 😱 had we known that we would never have applied for it , have a wonderful week Cheers 🍺🙂
We are really glad we did the river cruise 🚢. as we haven’t seen the same deal since ! thanks for dropping by and we hope you have a fabulous weekend Cheers 🍷🍁🍺🌽🌻
Thank you Tina and Norm for your highly entertaining and informative videos. Would you be able to share with viewers how you prepared financially for retirement and during retirement? Specifically where to invest extra money sitting in bank leading up to and during your retirement years. You both mentioned investing in dividend stocks and would appreciate steps of how to invest for retirement. We are in Montana and don't celebrate Thanksgiving until the last week of November, but have a wonderful Thanksgiving celebration!
Our biggest financial help was selling our home , we have done a video that talks in great detail of what we did and where the money went . We do invest in stocks but we are not financial advisors so can’t advise you there , you can go to your local bank they have advisors there. We are looking forward to Turkey 🦃 tomorrow and wish you a great thanksgiving in advance .Cheers 🍷🍺🇺🇸🍁🌽🦃🇨🇦
Hey guys, I’m sure we will make some mistakes but because of you guys we have our heads up regarding the money from our house sale, whenever we pull the trigger. Great informative video once again. Thanks guys. Cheers!!!
We are glad to give you the heads up , we all make some mistakes guess the secret 🤫 is to learn from them LOL 😂 hope you have a wonderful Thanksgiving weekend Cheers 🍷🍁🍺🌽🦃🌻
The biggest uncertainty I have about retirement is how much money we will actually need. 🤔 I’m working with a financial advisor and have been working through this question, but it still feels like a bit of an unknown. I would love to retire now, but feel I need to keep saving. I’m age 55.
Having a budget is a good place to start and have an honest conversation about what you need to spend in retirement, cable TV, cellphone and internet and restaurants. Do you need these at your present levels of consumption. We have cut back on unnecessary expenses and could live off $2,200 easily not including travel. That's why we suggest take a look at your government old age pension to see how much you will be getting. We have found we are spending less in retirement. Thanks for watching and good luck with retirement.
@@ThisIsOurRetirement I agree with this. Too many financial advisors claimed you needed 80% of your current income but this is not true. I live on less than half however my taxable income if about 1/4 of what it used to be. I wish I had considered how much to put in rrsp, your comment on this is spot on. The one thing I did not account for was activities (not so many the past year), I had not know how many different interests I would have and what they would cost. I also agree with retiring as early as you can and enjoy life to the fullest while your able.
@@maureenpluthero8543 It’s a huge shame what they tell you need to retire as it’s just not true, way more would retire early if they knew just how much you can happily retire with Cheers 🍷🍁🍺
I'm 54 and somewhat in the same situation, however the best advice I received so far is how to ensure my wife and I get GIS - this is BIG - and requires cashing out most(if not all) your RRSP prior to 65
According to ‘Allowance Overview’ at Canada:ca you are only eligible for allowance between 60 & 64 if your COMBINED annual income is less than $35,616. Did you know this?
Another fact filled video with advice or tips for those in the dark about their impending pension period. Great that there are people like you two prepared to do the ground work and share your experiences. Happy Thanksgiving. See you next week. 🎃 🦃🍾 🥂 🥳 🇳🇿 🙋 🇳🇱
Thanks for watching it is a bit of a minefield with all the government money 💰 that is available if you know about it , we hope sharing our story can help others especially those who fear retirement ( we absolutely love ❤️ it ). We are enjoying a lovely Thanksgiving having Roast Lamb 🐑 today and Turkey 🦃 tomorrow with our son and family hope you are well and you too have a wonderful weekend 🇳🇱 🍷🍁🇨🇦🌽🍺
@@ThisIsOurRetirement indeed. The govt won’t alert you. You need to do the footwork. I know of two people who fear retirement. They have no outside hobbies- except work. Sad. Happy feast days and enjoy those scrumptious meals. 🕯🙏🐑🦃🍷🍷
I’m happy for you that your really enjoying your retirement and have these lessons to pass along. I can’t imagine that a good retirement will be an option as much for my generation because our debt is too large from school and housing to get a tfsa out RRSP. I’ll likely with till my kids put me in a home haha. That’s cool that you found that little loophole for an allowance, pays to research.
Hi Jeremy yes we agree there is a lot more debt with the younger generation, but if you start saving even a small amount when younger it really can add up. When we first moved to Canada 🇨🇦 in 1992 after reading the Wealthy Barber book 📖 we paid ourselves first 10% then the bills . Hope you are keeping well and Happy Thanksgiving Cheers 🍷🍁🍺🌽🦃
Glad you like them! hope you are well Deborah, we had a great time filming walking around the campground lovely weather and gorgeous colours of the trees, hope you are well Cheers 🍷🍁🍺🌽🦃
Thanks for visiting we are having an amazing retirement so glad we did it early and that we got to travel before all this Covid stuff😱 LOL 😂 we might not of got to see Australia 🇦🇺 hope you are keeping well enjoy your weekend Cheers 🍷🇦🇺🍁🇨🇦🦃🌽
So true! we love being retired and enjoying every moment which at the moment is discovering our Canadian backyard 🇨🇦 have a great weekend guys and thanks for dropping by Cheers 🍷🇺🇸🍁🌽🍺
@@ThisIsOurRetirement thanks, we are doing well! Loved the way you recorded in different backgrounds, with your cute sunglasses! You guys are so adorable ❤️
Thanks for watching we hope us sharing our story will make it easier for others ( wish we had known some of this LOL 😂😂) thanks for the good wishes we hope have a wonderful weekend too Cheers 🍷🍁🍺🌽🌻
Thank you very much! glad you enjoyed it we enjoyed walking around our campground and making it with all the beautiful colours of the trees , have a great weekend Cheers 🍷🍁🌻🍺🌽
One of your best videos with some excellent insights!👍😊 Wishing you both a Happy Thanksgiving!✌️🇨🇦🍂🍁 P.S. Your other videos are darn good too! Some explosive content! “TNT”=Tina/Norm Time😜👍
The social security is very little and not much of a pension. Better than nothing, but pathetic for first world country. Elected and appointed officials have splitting and gaslighting the citizens down to a science in USA. Live your channel 💕💕💕
Even if you prepare….when you make that decision to retire it is scary…..no two ways about it, but once you see you can make it, you’ll wish you retired sooner. True story 🤗
Because we sold our home 🏡 it put us financially in a great position, but then with all the government pensions, SS etc it means actually your money is growing not decreasing that we thought it would . One thing we would say if you have the opportunity to retire early do it as health isn’t guaranteed and with Covid so many things have changed . Thanks for dropping by have a great weekend Cheers 🍷🍁🍺🌽🦃
We had a feeling it might be , we do try to do around 10 mins but some times it doesn’t work LOL 😂😂, we are glad you are enjoying our videos have a wonderful weekend Cheers 🍷🍁🌽🍺🌻
I know I teased you about your video being too short today but I always enjoy your programs. I’m hoping you share Fall in your neck of the woods, it’s still green and 90 degrees today in Missouri.
Of course, every person come to pension period differently, with different financial situation ,but Canada pension is very low especially OAS, some times it is not possible survive, especially for whom is renting. It is dark period, so if some body can collect some money is very good idea. But for some people, it is difficult too, especially enough money. Do not rely for government pension.
We agree Natasha that Canada’s 🇨🇦pension is low, but there is also CPP, GIS, Trilium and GST programs to help if you are lower income. The problem in Canada is that housing and rentals have shot up in the last 3-4 years and our government isn’t doing anything to help people. If you rent you need to find a place with rent control that keeps your increases very low but it is a worrying situation. Have a great weekend Cheers 🍷🍁🍺🌽
How about finaces when single or widowed. Lots for couples when everything is split. Not fair for widows if not left lotx money but single women get much less from govt and not having a partner to share.
As a European, not far away from the Danube, I am really interested in a video about that river cruise. Did you dance to Johann Strauß' waltz "An Der Schönen Blauen Donau?"
That trip was before we did You tube , if you get the opportunity we highly recommend it , we loved it we visited an Opera house in Vienna . Have a great weekend Cheers 🍷🍁🌽🍺
Didn't know about the "Allowance". Did some research online and still not 100% sure. If you guys do manage to get the Allowance, please do a more detailed video on it. Thanks.
Hi Michael yes we will , there is apparently a big back log at Service Canada 🇨🇦 due to Covid so it might be a while before we hear but they said it would be backdated and yes we will do a video on it , we don’t think it’s a lot around $100 a month but all pays for something LOL 😂😂Cheers and Happy Thanksgiving 🍷🍁🍺🌽🦃
Thanks for watching, we found out that if your partner is 65 and getting OAS /GIS ,the spouse can get an allowance if aged 60 -64 , however we did get it but what they gave me they took away from Norm LOL 😂😂we were perhaps $400 ahead so not really sure it’s worth doing 🧐have a great week Cheers 🍷🌺🍺
