Retirement Ready: Shifting from Saving to Spending Mode

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I'm wondering when it's time to transition from saving to spending in retirement. In this video, I explore the key signs that indicate you're ready to shift gears and start enjoying the fruits of your hard-earned savings, as well as understanding the psychological shift from saving to spending. Whether you're approaching retirement or already there, this video will help you ask the right questions and fully enjoy this next chapter of your life.
#RetirementPlanning #FinancialFreedom #RetirementTips #SavingForRetirement #RetirementLifestyle #SpendingInRetirement #RetirementSavings #FinancialIndependence #RetirementGoals #PersonalFinance
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27 сен 2024

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Комментарии : 165

@silverandsolo 17 дней назад

Click bit.ly/SilverandSolo for a 14-day free trial and enjoy all the amazing features MyHeritage has to offer!

@nancynickerson4341 16 дней назад

I am a happy, single-and-solo 70-year-old who retired at 55 with no debts, a paid-off home, and a defined benefit pension. I stopped saving when I retired, and am not worried about outliving my savings, but still I have somerimes struggled to spend money! I'm not interested in long-distance travel and none of my hobbies is very expensive. I have turned my attention to giving back to my community and various charities.

@SimplyKatieWalks 16 дней назад

Retirement at 56 was the best thing i ever could have done. My life is so full and never in a hurry!🎉

@melaniepalker9998 16 дней назад

I stopped working FT 3 years ago. 6 weeks later, I was at home, twiddling my thumbs. Gotta call from an old per diem employer asking me if I wanted to help them with their new product. And I haven't looked back since. I work a couple of weeks a month and have all expensive paid. The hourly rate isn't the greatest. But it keeps me from dipping into my retirement funds. I love it. A phased in retirement. Meeting mew people across the country and staying active. 🎉❤❤❤🎉

@caoimhenimhuireadhaigh1303 16 дней назад

When my aunt retired at 60 from forty years as a physio, the first year she was absolutely exhausted and mostly stayed home and read some of the books she's been collecting for "when she had the time to read". Several years out from that she's got a busy social life, travelling about to meet up with her friends from all over, going on her daily walks on the quays. She's living her version of a life of leisure, seeing as the woman couldn't sit still to save her life 😂

@diannabentley9363 16 дней назад

Great topic Jen! I'm 50 and save 25% of my monthly income (invest it for my retirement), spend 50% on my needs (house, car, food, insurance) and spend 25% on my wants. I am a minimalist and when I do buy clothes or household items etc I purchase good quality and what I love. I enjoy travel too! I'm excited for you to be at this shift between saving and spending. It seems very balanced and I'm sure you will enjoy your go-go years! Being disciplined with yourself though the younger years definitely has paid off!

@majelthesurreal5723 16 дней назад

I can really relate to this. My father died when I was four and my mother instilled in me that I would have to take care of myself. I was very frugal as well and saved my money. Now at 70 it is very difficult to spend. But like you I try and get the extras that I never did before.

@paulinegagne-bertrand9871 16 дней назад

I retired at 55 and have been retired 16 years now and I regret not travelling more. I am still in good health but my husband is not and can’t travel anymore. I won’t travel without him. If I could go back in time I would of travelled at least twice a year. Do as much travelling as you can when you are younger because you don’t know what is waiting for you around the corner (health wise). Looking forward to the next video.😊

@mariarooney6262 16 дней назад

Your plan sounds great. I am retired 9 years now. Living on Social Security. No debt. I’ve always followed Dave Ramsey starting with an emergency fund, then no debt at all, pay off house, credit cards, cars, then invest. It’s worked for me and many others. The freedom of no debt on my mind and body are priceless. I’m free.

@ruthmarner6582 16 дней назад

Good for you!

@susanmason3432 16 дней назад

Your long term consistent financial discipline is remarkable. I’m an advocate for teaching children about money from Kindergarten on to include credit traps, investing, savings, and to think through your expenditures. Living within our means is necessary for financial success. It matters more how you manage and choose to spend, the how much you make. Delayed gratification is an individualized learned skill. Thank you.

@grandmaswords-c3y 16 дней назад

I love your videos, I'm 63 yrs old, and after watching you, I decided to start my own

@k26kv31 16 дней назад

Gotta give my 3rd grade teacher Kudos for taking us to the local bank to learn about money for one of our field trips. The very next week I walked into the bank and sat with the manager as she got the paperwork ready to take to my mom so I could open my first savings account with my birthday money. Every so often I would stop and add a few dollars of my allowance to the account, and I was eventually able to buy my first 10 speed bike with my savings. I have been saving ever since...and yes, it's hard to actually spend some of it even if it's for a good reason after you have been programed to save.

@Seeking_Myself 16 дней назад

Hello Jen! Thank you for another great vlog. I am going to be working for another 7 and a half years (until I'm 70). I have recently changed from a full-on, more than full time job (!) to an education term time post. This is my plan to slip into my slowing down work years. Like you, I am silver and solo but I do have a "child" still living at home which changes the dynamics a bit for me. I will release one work pension soon and I will get government pension in a few years, which will help take a bit of pressure off at the edges. I am still trying to save as much as I can at this point. I love your channel and wish you fun on your travels!

@bernaclischurchill4463 16 дней назад

I retired. I live in the US. Our healthcare needs as you know, can be costly. So we have to factor in that cost upon retirement. with that said, I have been retired for almost five yrs now, 70 yrs old coming up. I retired, unknowingly right before the pandemic started, thus a lot of my time was spent in lock-down and staying safe. I traveled during my working life, because you never know how long you are going to live. My parents both died by age 70, so I thought that I better get my travel in when I could. For my 70th birthday, I am treating myself to a cruise, which I used to do every 3 yrs, as a rule of thumb anyway, That stopped during the pandemic. I know I move slower now, but I do not regret retiring abruptly one day, and starting my retirement the next day. I planned it and was ready. I am the first of my parents children to retire, although I am not the oldest. I, too, saved as you did, but I did not stop saving until 1 month before I retired. My savings, pension, etc., covers all of my expenses, but If were to move to a different area of the country, I might not be so lucky, but you never know. For now, everything is a go, and I hope it stays that way, and for you too.

@leeanna1433 16 дней назад

Once again, I can totally relate to your video. I just turned 62, but am putting off collecting SS for another 3 or 4 years (US). I work from home, and I love my job, so why stop? I have a home (paid off) and several retirement accounts. I have been taking money out of my paycheck and putting it automatically into those accounts for years. Like you, I don't see the money move from my paycheck to the accounts, I just see the amount grow when I get my monthly statements. Because I will be retiring within the next several years, I read everything about retirement. Every article that even remotely mentions the word "retirement" -- I read it! It's become an obsession. And I have created budget after budget of what my monthly needs will be when I retire, how much to spend on household, food, pets, etc. -- and then, myself (fun stuff). When I made out these spreadsheets, I'd freak out because it seemed I would just have enough to meet my monthly expenses and nothing more. Then I realized because I'll be retired I won't be putting any more money into those retirement accounts. I am so used to that money just automatically going in (and never seeing it), that I added those amounts to my monthly expenses! LOL. Once I realized I was doing that, I went back and saw that, yes, I can afford to retire with my social security and have enough and more each month. Whew! But then it hit me -- Wait, that means I won't be putting anymore money into those accounts!! And that thought made me gasp! That means, I'll be taking money out?!! Like you, I felt queasy about it. It's weird because it is actually time to relax and have fun with our money, right? We've earned it and we deserve it. Also, we won't live forever! But still...! But I feel very lucky knowing that I will be "set" for my retirement. "Go-go years" -- I never heard that expression before, but I like it! Again, thank you for the videos. They are so informative, and help me to feel I'm not alone!

@focusedfreebird 16 дней назад

If there's a lot of money left when you die, someone else will get to spend it. Once retired and into your 60s and 70s, it's time to use some of your money without guilt to enjoy yourself. It's hard to switch to spending mode....but life gets shorter...so it's good to enjoy yourself. 😊

@Retired-jr3qs 16 дней назад

I retired at 57 and single. Now I am 61 and recently diagnosed with cancer. No one knows how long you're going to live. I'm so glad that I retired early. Tomorrow is not promised to anyone.

@silverandsolo 15 дней назад

Very sorry to hear this! All good karma coming your way!

@LynsAlteredArts 15 дней назад

I retired 18 years ago and I paid off my house a couple of years ago. I haven’t had any consumer debt for many many years. I am saving a lot every month, but not on purpose. My pension is good enough. It’s more than I need to live on so I save my Social Security every month and it builds up fast when you’re not spending it. I also haven’t touched any of my investments because I haven’t needed to. I’m not even spending all of my pension there really isn’t anything expensive that I want to buy. I buy things for my house, new flooring, some new lighting, new kitchen cabinets, things like that. After this winter or sometime this winter, I may need a new fence but as far as buying some thing for myself there really isn’t anything I want or need. My car is eight years old, but it’s fine. There’s nothing wrong with it and I like it, I give myself permission to spend, but there isn’t anything I want to spend it on. Basically all the money that I’m saving is for the day when I may have to go into a nursing home or an assisted living facility I want to go into a nice place.

@pam3744 16 дней назад

Age 68, stopped working at 62 ( I don’t like the word ‘retired’) and I’m not tired yet! I do see it coming, though, if I don’t remain a lifelong learner, traveler, and involved volunteer. I see too many of my friends, though, who seem to lose interest in life. I hope that doesn’t happen to me. And, I agree, it’s hard to spend money after a lot of years of saving. I still don’t throw money away, though. Enjoyed this video - thanks!

@Bobanahannah 16 дней назад

Thank you for making these videos. I am within a year of retirement and am at the panicking phase. I’m single, so, responsible for successes and mistakes. I’ve crunched the numbers and ok with the gross amount, but taxes are now the great unknown. Pulling out RRSPs vs RRIFs , taxes, getting the most out of my savings without handing what I scrimped for to the tax guy.

@margaretgerth1067 16 дней назад

I am 73 and growing up in England with parents who lived through the war and the depression, I have always been careful with money. It’s ingrained in me. Now I have my late husband’s work pension, and my CPP & OAP, and RIFs from our joint RRSPs. My parents both lived into their 90’s and their independent living complex they lived in for several was very expensive. I keep that in mind in case that type of living is in my future but I also own my own home just outside Vancouver, so I do think I can start being more generous with myself! It’s still hard to do that though! 🥴

@sarah430 16 дней назад

I just turned 60 and retired from my full-time career 3 years ago. 6 months later I picked up a sweet part time work from home gig with great benefits. I’m an hourly wage worker instead of a manager/director but the job is near zero stress and work thoughts end when I close my laptop at the end of my work day. I’m no longer saving but debt free so this job covers my basic expenses and allows me to coast to full retirement. I probably have enough retirement funds to fully retire now but this gives me some peace of mind. Also giving me some time to get into spending mode. Like you I’ve always been a saver and have been reluctant to spend. Have been experimenting on spending more on things that are important to me and bring me joy.

@silverandsolo 15 дней назад

Yes, yes, and yes!

@wendybowman5305 16 дней назад

A great video, Jen. I didn’t save quite as diligently as you however I did save . I eased into my retirement. I listen to a radio program on CBC many years ago and six people had retired and only one of them stayed retired. The rest were right back to working because they didn’t have enough money to live on. I guess they hadn’t thought about retirement soon enough. I had two careers, a nurse as well halfway through my career I became a massage therapist. I retired from nursing and then I eased out of the Massage Therapy business over about 12 years. I retired at 67. I have a a good pension to live on. I have a small lLIF. Also, my mother passed away three years ago and I had two other siblings and she left us some inheritance. That, I’m very careful with. I spend however I think about what I’m spending it on before I do. I’m 71 now I think I’m in good health, however what I’ve noticed I don’t have as much interest to travel everywhere as I used to. I still do some traveling, but not as much as I thought I would do. I tend to like a more slowed down life since turning 70. my mother was healthy and pretty with it right to the last minute I would say she passed away of old age. ( I was a care giver in a sense of making sure she could stay in her home).I did alot of the chores around and driving her places. I like your thoughts on not really caring what I leave and living a good life on what I have. I have three grown children and they’re all doing well. I don’t feel, compelled in anyway to leave a bunch of inheritance. The cost of living in 2024 is not what it was years ago so I’m glad I’m in the position I’m in. I too am reluctant to spend however I have taught myself to spend some on myself.thanks for the video. I really enjoyed it and I learned some things as well which is great.

@IamClaudiaGarcia 16 дней назад

You're so fun to watch! Thanks for dropping so much great wisdom on us! I am going to be 50 very soon!

@NormalnotNormal1234 16 дней назад

Jen, I am basically in the same place, I will turn 60 in Nov. and I am also still working FT, mortgage will be paid off soon, I have no car payment although I have been thinking about getting a car before retiring because my current car is 15yrs old. I too struggle with spending my money...LOL!! but the past couple of years I began traveling more and just spending a little more time with family, actually tomorrow I leave to California to visit my niece, in Oct. I plan to go to Florida to visit my mom (93yrs old), brother, sister and other family members. I plan to also work maybe....5 more years unless I decide to retire and possibly do something part-time or even volunteer.

@leisure057blank3 16 дней назад

Wow, your uncle’s research is an amazing gift.

@silverandsolo 16 дней назад

I think so too!

@fredrice9940 16 дней назад

Don’t forget that you will also get CPP and OAS. You will be fine. Enjoy the good years 🙂.

@kathypeiffer3103 16 дней назад

I'm 58 and just quit working. I am married and he is still working for a few months. Personally, i needed a few months to adjust to not going to work. Our list of go go travels is getting large but a lot are just one day events. I suggest you start making a go go list. It will help you see how your time and budget will be spent.

@donnaengland3629 16 дней назад

I retired at the end of 2023 as part of an early departure offer from my employer. This year I’ve been living off the severance pay but it is scary to think about spending my retirement savings starting next year! I phased in retirement by doing more traveling after the pandemic ended and my husband died. I do feel like I’m in the go-go years…just hoping I can afford however many of those years I have!

@janenebendrick1632 16 дней назад

Maybe you can add travel vlogs to your youtube repertoire. That would be fun. As an aside I also have red curly hair and a Scottish ancestry on my maternal side. Went to Scotland in 2000 and absolutely loved it there.

@deniseclarkart 6 дней назад

Hi Jen, thanks for another great video! I use ‘My heritage ‘ to it’s such an enlightening thing to search our family trees! I met relatives I didn’t know! Also I found it was excellent for my brain, makes it work harder! 😊

@thelisaofmonalisa4829 16 дней назад

I'm 55 and recently changed careers but I'm under the same union after this year of probation, I'm hoping to start a phased retirement. We have no debt, a paid off home, lower cost of living. So much of my life I felt i didn't have the capacity to focus on doing things for me so it will be a big switch to figure out what I want.

@EL-gu8fv 16 дней назад

I worked like a Spartan from 20-45, paid off ny mortgage and made 400% on selling my home. I used money to downsize, give my child the best university education and start her with a good deposit on her first home. Now, I use some every year, going to places I've bever been, and doing what I enjoy, like cinema, theatre and socialising. I think women are very unfairly treated, and single women are treated abominably by society.

@ruthmarner6582 16 дней назад

Think of it as reaching the summit. You’ve got to get used to the decline in elevation and it might be strangely liberating. But I get it.

@RitaCwise 17 дней назад

That shift from savings to spending was the hardest adjustment in retirement. But once I made that move it was fun. Only regret was that I didn’t start traveling before retirement.

@aliceboyles1791 16 дней назад

I commend your bravery. A perfect teachable moment.

@tmoore1144 16 дней назад

I retired in June at 62. I guess you could say time wise I phased it in. I was a nurse working two twelve hour shifts, Sat/Sun. But made full pay for that weekend contract. Previously I had done the full time, three twelves. My husband had passed the previous fall and that threw my plans for a loop. He was eight yrs older than me, and I wanted to retire early while he was young enough to travel. My house is paid off. My car will be paid off by next summer. I have few bills and I could pay them off but as they are zero interest and will be gone next year, I am not taking from savings to pay them off early. It is scary to know that what you have is all you will have. No working an extra shift to pay for something. No O.T for a couple of paychecks to pay for that vacation. I have to remind myself that I have enough money to still travel if I want to do so. I am allowed to touch the savings now.

@tamaraadams4606 16 дней назад

It’s going to fun watching your permission to spend journey!

@MicheleGrose 17 дней назад

Good morning Jen! Great video and you always go to places that I have questions and sometimes worries over … Biggest fear is out living my money. Longevity is in my family. Haven’t retired yet and cannot imagine changing how I save. It’s ingrained in me … Thank you for sharing ❤

@kathyoliva6966 13 дней назад

Love this video! Retired 2 1/2 years ago. Haven’t spent investments…feel as you do - scared to sell off investments. Am definitely in my go go years; but also savoring not being on a schedule; no alarm clock etc. lots of travel but also lots of mindfulness and gratefulness of being in the moment; loving nature close to home; loving my sweet doggie. A LOT of my hard earned retirement does NOT cost money 😊😊😊. I embrace / agree with / did the same as you regarding maximum saving for retirement. I too started working when I was 16. Really enjoy your videos and your advice/ wisdom and your sharing nature. Have a beautiful day!

@LookNook2020 15 дней назад

Enjoy your life every day, instead of dreaming about enjoying your life in the future. 💟☮️☯️

@SarndraIngersoll 16 дней назад

I am planning on retiring next year and I am also terrified of going into the spending phase of life!

@virgierutledge3004 16 дней назад

Love your perspective and channel. God bless and go, go go. You can do it.

@AZHITW 16 дней назад

My family tree is of no interest of me don't need to know how many bank robbers, horse thieves, and working girls are part of my past. LOL! Hope all your retirement dreams come true and good on you for being such a diligent saver.

@leisure057blank3 16 дней назад

I retired at 60.5. I have a pension that pays all my expenses, so far. It has a small cola. I set aside cash in my savings to do some home fix up and some travel. Then I was burglarized and felt like I could not leave this house alone, so I need to sell and move. I am still trying to declutter, so I am not near selling. I like you saved in work retirement savings and an Ira (in the US), and I have some individual stock investments. I could use the dividends from instead of reinvesting them. I will pull my social security at 70, and try to do Roth conversions on mt retirement accounts to the amount I can and not trigger Medicare problems. Basically I consider my retirement accounts for health care, should I need assisted living or an aide or some such. But in living frugally for so long, I find I don’t desire a lot, so I don’t have a big want list.

@MokaandChai 17 дней назад

Jenn Thanks for your videos and Thanks for your knowledge.

@irememberla6460 16 дней назад

I have always been a saver lol, but I want to travel more...!

@Laura-rx9mp 15 дней назад

I so feel like you!!! regarding receiving the annuity oooooh nervous!!! love your videos thank you. oooh and please have a plan of what you will be doing with your time after you retire. That is very important.

@Countrygirlgirt 12 дней назад

Your personality is funny and amazing. You Rock!

@Trac489 16 дней назад

Sounds exciting, the spending part. 😀😀

@TheahLil 16 дней назад

Great topic!!! Have you heard of "coast financial independence" approach? In essence it's reaching a value in your lifestyle and investments that your investments/pentions/etc will cover your expenses and/or replace your current income at retirement age. I personally have been very diligent in this focus and now have, by my estimation, reached that stage, I am 40. So, its not that crazy, because I can't just go off the handle and quit anything, but its very impactful in that I am now dialing down the portion of my income that I save to fund the future, and I'm putting more of it to saving to fund the short term future and also enjoying myself more. Its .... pretty freakin awesome. Sounds to me like that's what you are at, and I can totally relate to how its a skill we need to learn which is how to be a spender AND saver, not just saver. I'm single and not high income, too. You and I are very similar. Way to go, us, our hard work, determination, and choices have set us up for this position . Considering that fund you are liquidating but now you feel like you wouldn't have needed to - if you were in US I'd suggest you could put that money into IRA or taxable brokerage acct for while you are not needing/wanting it. I'm sure you've already deeply considered it and thought of that. :)

@Howtogetfluent 17 дней назад

Another great vid, thanks! Go, go, go! (That's going to be my strategy too) :)

@LurkerSmurf 17 дней назад

My Depression-era parents instilled in me a mindset to live below my means because you never know when that will become a reality. Somehow, my brother missed that lesson, but that's another story. As a result, I've never been in debt, and should be able to retire in 10-ish years, health willing. One thing you don't mention as a Canadian is the healthcare factor. In the U.S., it's a huge concern when you calculate retirement budgets.

@silverandsolo 16 дней назад

This is true about the healthcare. Mine is not an issue. I don't have to really set aside anything to cover it. Definitely a bonus.

@bettyskaggs6639 17 дней назад

I think you deserve some go go adventures!

@AyaSmith-rb2hp 15 дней назад

Congrats, you have done an amazing job!!! Enjoy your retirement to the fullest. Many don’t live that long!❤

@mangisty1007 16 дней назад

It does seem a bit nerve wracking for me to think of using the money in retirement cuz what if I need a big chunk for house repairs or a health emergency! I guess it is about budgeting and keeping a savings account for emergencies!

@silverandsolo 15 дней назад

I have the same thoughts, but also, what if I don't have those emergencies? I really want to enjoy my retirement years and not just keep saving for "what if?".

@jackiebowen6239 15 дней назад

@@silverandsolo Exactly! Many people forget that part and dwell a lot on "what if?" I wish they wouldn't.

@lesimkien724 16 дней назад

Saving, saving, and saving when you are young is the right thing to do. Especially if you want to be single. Older age, it is time to relax ....make yourself comfortable. Now you have a few pennies in your pocket, you can have a choice. 😺

@mariannedressler6784 16 дней назад

This is a great topic.

@makingmyownlane 13 дней назад

After leaving my job at 60, I decided to take a hiatus to travel. I won't say retired yet, if ever. I'm also not in the spend mode yet. I'm just finding new ways to support myself outside of the "traditional job". Is it the best decision? Only time will tell. But I'm really enjoying my life now after years of struggling.

@terrypelletti8535 16 дней назад

Thank you ❤

@worksofhands 3 дня назад

I'm 46, and I'm already thinking about preparing for retirement. 😆

@LynnEvans-mz6vl 5 дней назад

Hi Jen, have you thought of doing a live session to show calculations for retirement planning. Would be good to show software and what to calculate. We are all different but a general retirement budget? A finance person recently wanted to see an Annuity, but he was not looking at the full picture. I’m in California.

@silverandsolo 5 дней назад

Oh, gosh no! I'm not qualified to give financial advice and I've never in my life considered an Annuity. RU-vid is full of finance channels....

@noreenn6976 16 дней назад

Hi Jen, can you do a separate video highlighting the challenges of being a single female saving for or in retirement?

@SoulEzee 14 дней назад

Suggestion: Spend your money by paying off your car(if possible your home) > Retirement is great, but even better when debt free. You will not believe the weight lifted off your living being debt free will have. I have been debt free since 2013. Living off social security, and still have money to save. After living years of hand to mouth, still have trouble spending but getting there. 😊

@SandraRomano422 7 дней назад

You look a lot like a great grandmother 😊

@annkrull9894 12 дней назад

Go go slow go then no go. Phased retirement worked great

@shirlebryant9427 14 дней назад

EXCELLENT

@olgakultikova7323 12 дней назад

I would really appreciate if you do motivational videos about RU-vid earnings from time to time ❤

@silverandsolo 11 дней назад

I put up videos about my RU-vid journey on my Patreon site and the community there are all about starting and building RU-vid channels. Very supportive and helpful. www.patreon.com/SilverandSolo

@olgakultikova7323 11 дней назад

@silverandsolo I wish I could. I can't pay from my country, not for patreon, nor youtube membership ((( I really love your videos about youtube journey. They are so inspiring ❤️ well, I guess I'll just watch them again)))

@HopefulTuesday 16 дней назад

Can you explain why you are withdrawing your RRSP’s? I would think you could delay CPP for a year or two (thus increasing your CPP for life) by withdrawing your RRSP’s when your income is low when you first retire.

@silverandsolo 15 дней назад

I'm withdrawing "one" RRSP in order to fund my travel. CPP and OAS will be delayed until 70. :)

@kymcoote6769 17 дней назад

I am 61 still working full time looking towards the end of next year planning on a reduction from 5 days to 3 day working week. This scares me thou …..? My big fear is to travel alone I have never done this.

@WilliamFluery 16 дней назад

I was kidnapped in downtown Atlanta at 19 and now at 63, I NEVER EVER feel safe in the USA. More now than ever. I have traveled alone for years throughout SE Asia and I NEVER EVER fear for my safety. Search RU-vid about traveling alone as a female (assume based on your name). There are vlogs about safe places to travel.

@LR-ei5ej 16 дней назад

I have been to 29 countries alone throughout my life so far. The only time I have felt fear was in New York City. Odds are you will be safe ❤

@LR-ei5ej 16 дней назад

I should also say I am a female 😊

@Staronqueen 16 дней назад

There isn’t any thing to be afraid of when traveling alone. I have travelled to several places on my own and some trips I have travelled with international tour companies. I am 72 and I am packed and ready for an upcoming trip within a few days. You could start with booking a vacation package. The only time you’ll be alone is on the plane to and from your destinations. Upon arrival at your destination of choice, you will be picked up at the airport and taken to a pre booked hotel & your private room. At the hotel you will join up with other travellers booked with the same company. There will people like yourself, there will be young people, not so young people, couples, with or without children, some may even be from your own city or state. On one of my many trips, I met a couple from Windsor Ontario who knew of me, even though I never lived in Windsor. The world is a very small place Your meals transportation to sightseeing, historical sites, etc. would be taken care of. You would be driven and escorted by professional drivers and guides; and if you are outgoing you’ll even make friends with the other people from the different countries . The costs for these vacations packages are reasonable in comparison to paying for everything separately. Remember life is short. And there is nothing to be afraid of but fear itself. Good luck!

@silverandsolo 16 дней назад

Start out with baby steps, do a stay-cation, maybe book a weekend in a nice hotel a couple hours away? Have a book to read or journal to write in when going out for dinner alone. And ENJOY! I made a video about safety when travelling alone here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lX_0wka1PZw.html

@kathleendoor6847 16 дней назад

Go Go Jen🎉

@cindym4946 3 дня назад

No debt is important in retirement. Maybe use that new money youre collecting come January to do that.

@fionaewen6231 16 дней назад

I thought l was doing ok with 2 small rental places,one as small income, the other for savings, and a cottage all paid off. But due to flooding, my house may be unsellable, wiping most of my life savings away. I can't move now as l could never afford to buy.

@silverandsolo 15 дней назад

I'm hoping insurance helps you!

@fionaewen6231 15 дней назад

@@silverandsolo thank you, sadly not. Im pretty much on my own with this one. Its a council buy out scheme due to a cyclone last year. Houses who applied on my little street are being bought out . All except me. Im disputing it , be t it might be a long battle. Thank you for replying.

@WilliamFluery 16 дней назад

If you want to never be worry about not having enough money in retirement again, move to Philippines/Thailand/Vietnam and live on $1,500-$2,000/mo

@cynthia216 6 дней назад

Can My Heritage find adoptive mother.

@RamonaBienka 16 дней назад

Do you have a class where you teach others how to start RU-vid?

@silverandsolo 15 дней назад

There are plenty of videos out there telling you how to do it. I put up videos about my RU-vid journey on my Patreon site and the community there are all about starting and building RU-vid channels. Very supportive and helpful. www.patreon.com/SilverandSolo

@janenebendrick1632 16 дней назад

Does Canada pay for long term care - nursing home care?

@silverandsolo 16 дней назад

Yes, publicly subsidized long-term care services are available if you qualify.

@kathleenhill5838 17 дней назад

June of 2026 I will be pushing 67 and will retire then. Divorced and started my retirement account with much pressure from my Mom when I was 40. It's been kind of rough but I have learned some really frugal things to help me in the conversion process. There will be some weekend trips with my bf but no serious travel can be affordable. Between Medicare premiums and other insurance I think it will be interesting.

@sriis7525 13 дней назад

❤❤❤

@erikaalvarez5121 17 дней назад

Hello

@cricket6410 16 дней назад

Stopped saving for retirement. Are you financially ready to retire now, actually?

@silverandsolo 16 дней назад

Not yet. And I haven't stopped, just dialled it down.

@rhondadownes207 16 дней назад

I’m 64 and my husband will 61 this year and, regretfully, we have not been good with money in the past several years and now we have been playing catch up for retirement in the past 5 years, which has been very stressful. But, we can only start from where we are… 🍀💪🏼

@gaildela5710 16 дней назад

Don't give up!! You'll definitely enjoy the end results, it will be worth it. 😉

@AyaSmith-rb2hp 15 дней назад

I retired at 58 after my 29 year old son died and my father a few weeks before. I had no planned retirement. Just had to stop and heal. Several years later after the incredible grief, Covid, Isolation and healing at 65 I am finally planning my golden years and moving to a place I am excited and have worked out a financial plan where I can enjoy peace and serenity with my pets and spend summers with my only living child. This is a beautiful time now and I am so grateful. Already travelled most of the world when I lived abroad. Much of that was nice but the revolution in Indonesia was brutal. Lots of loss in my family so just grateful to be here and enjoy a simple life. ❤

@paulafitz532 17 дней назад

Thank you 😊

@joygatewood8028 9 дней назад

Hi! I've retired and I began spending instead of saving sometime ago. I'm single, am still active, work out, travel, hang out with friends, etc. It is so wonderful to have money for leisure activities without work getting in the way. Yes it can feel weird to not save money but I remember that one of my parents died before 50 years of age. I worked hard for my money and deserve to enjoy it now - before it is too late.

@MsDoglover02 16 дней назад

My Dad is 90 and still go-going! His trips might be shorter but he loves going out on a Jimmy Buffett cruise for 2-3 days. He likes to gamble and never met a stranger so he has a great time. He doesn't get off at ports of call anymore but he's been everywhere. He's retired for 28 years! He lives alone and is completely independent.

@edithlyman1823 16 дней назад

I tried retirement in 2020 when I was 59. However Covid and not being able to do anything so had planned in retirement saw me rejoin the work place on 2021. I have on the whole used this income for travel once we could cruise again and to move home. Now I am established in my new home with no debt I have moved to 3 day working week which suits me fine. It’s all about having balance on my life.

@nilasink3270 17 дней назад

Always like your thought process. Yes, now is the time to go-go :)

@PatsSwingingSixties 16 дней назад

Hi Jen, I'm 63 and in an opposite situation to you. I have no savings and have only what I'll get from CPP and the small work pension that I qualified for 5 years ago. It will be something, but with 2 years to go, I'm looking at saving money and finding other ways to make my retirement better. Even though I'm single with no partner to rely on, I have 2 kids who have said they'll help me if I ever need it, so that's reassuring, but I hope that I won't need to worry about that straight away.

@susanc2792 16 дней назад

Another great video Jen. I’m 66 and retired 2 years ago. I’m a single solo as well and raised two kids as a single mom. I did a lot of reading about how to draw down my savings in retirement, which initially was confusing to me. The most helpful book I read was Retirement Income for Life by Frederick Vettese. I also read Millionnaire Teacher and watched a lot of RU-vid videos. Vettese’s strategies I’ve found are in sync with most retirement advisors. I’ve lived a frugal life (I’ve had to) and expect nothing different now that I’m retired and that’s okay. I have no debt; own my only little house; have a car and so far two grandchildren who I adore. I am happy and relaxed. I can afford the odd trip if I want, just haven’t planned anything yet. I will focus on that soon. Thanks for your relatable content! 😀

@LR-ei5ej 16 дней назад

I just turned 55 and really liked your advice about starting the gogo years now 😊

@jennifermott5651 17 дней назад

After a career of stay at home motherhood and lay-offs, I have had to adopt the super saver mentality. I have always needed to be prepared for the next lay-off and the subsequent 6 months to a year of unemployment that usually followed. I keep hoping I will have a nice house or a trip to Europe before I die. Not looking good, though. So I justify my hobbies to stand in as my European vacation or horse farm. Don't want to get to the retirement we have been told to save for all our lives, and there will not be the opportunity or health to enjoy it. Permission to spend indeed. Might get to the retirement and find it's been a big lie all along. Thanks for your wisdom. You are a big help to me!

@Ayleash 16 дней назад

When the time is right, you can auto transfer an amount of dollars from investment savings, into your bank. You'll get there. I gave myself a gift of $18,000/year starting 3 years ago and for the next 5. Woo hoo!

@annkrull9894 12 дней назад

Spending in retirement is much harder than saving for it.

@brackalack1 16 дней назад

I'm hoping to have paid off my home and overdraft by 58. Then Im going to quit and get a part-time job for 16 hours a week until my state pension finally kicks in at 68. I'll have enough if I'm frugal. But I'd rather be worse off and have more of my time for hobbies or just rest, than work full time till 68, then die a few months later! 😓

@joybird5495 16 дней назад

You used the word “ingrained” and I totally relate. I’m 74 with no debt, but it’s hard to change the habits of a lifetime. However, here I go - off on a cruise in 4 days.

@patdinning5686 15 дней назад

Am 70, very fortunate to have a tidy nest egg. Live very frugal. My son had a sit down with me. Informed me he didn't want an inheritance and do something for me. It was hard. So in a week my new electric trike comes. Yes, giving any monetary security is hard.

@2000konnie 16 дней назад

You touched on my concern about outliving my savings. I'm fortunate enough to be retired (with a small part-time job), and my financial advisor told me to go travel while I can. Life is a gamble, but I would say that if travel is what people want to do, to do it while they are still physically and mentally able to. At my stage, I wouldn't do some of the risky travel I did when I was younger even if I may be able to pay for it.

@lizziejohny8730 16 дней назад

Great❤❤

@sandracontreras8677 17 дней назад

It depends on your health, my mum is 82 and she was very active until she started having a few health issues and she had to slow right down, which is frustrating for her, so enjoy your life while your healthy

@bessycorrales2259 16 дней назад

The best thing I did was live on 75% of my income and automatically invest the rest 10 years before retirement. I'm now retired and the transition to my pension benefits was seamless and I have my investments in addition to the pension.