10 Things a Retiree Should NEVER "Skimp" On

[@DonaldMark-ne7se]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[@kevinmarten]

Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!

[@Jamessmith-12]

That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!

[@JacquelinePerrira]

Mind if I ask you to recommend this particular coach you using their service?

[@Jamessmith-12]

Carol Vivian Constable 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..

[@JacquelinePerrira]

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

[@chinesecrested9528]

I am 70, covid and my wife's health delayed my official retirement until the 27th this month. Item # 4 made me LMAO. Great channel, information, and great sense of humor!

[@WilliamFluery]

January 2022, I was obese at 6’1” weighing 262, age 60. I had been taking 8 medications for 20+ years. I studied the Ketogenic diet 4th quarter 2021 and jump in with both feet January 2022. After first week, I stopped taking Nexium for acid reflux. I started walking 3 miles every other day. By month’s end I was eating one meal a day and fasting 20 hours. February 2022, I was up to 5 miles every other day. In March I had worked up to 8 miles every other day. April? I stopped 2 high blood pressure meds. June 2022, I had the best blood test results ever. I was off an anti-depressant and anti- anxiety medication. By October 31, I weighed 190 lbs and I had stopped a third blood pressure medication, a sleep medication and a well known blue pill. Two year and 7 months later, I still eat more Carnivore plus fermented vegetables. I have maintained my 190 lbs and I’m up to 10 miles every other day. I have been studying High Intensity Impact training and cautiously entering into that realm being careful not to injure myself. My #1 objective in my diet is nutrition. I don’t eat sugar, bread, pasta, rice, legumes. At first I ate only beef, salmon, eggs, chicken and sardines. Plus a big A$$, raw, multi vegetable salad with extra virgin olive oil and balsamic vinegar. I’ve cut the veggies out and eating sauerkraut and two types of kimchi. I drink two cups of coffee in the morning and drink electrolyte infused ZERO filtered water throughout the day. I will be a bad boy a couple of times a month.

[@swtexan6502]

Congrats, you're well beyond the curve, William. Happy retirement and stay healthy.

[@annarborresident3911]

Congratulations! Really inspirational

[@gauravipal5691]

Thank you for sharing your journey. Why did you give up legumes?

[@chiaraperry472]

Great job!

[@sct4040]

Why cut off vegetables?

[@groove9tube]

I invested my HSA in an S&P500 fund at the bottom last year and now using the gain to pay for high medical expenses this year. HSA is one of the best government give aways.

[@tammy9964]

Thank you for sharing your knowledge.

[@jerrycampbell-ut9yf]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.

[@Peterl4290]

You are right. I’m in my mid 50’s now, my wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with profits over the years, but at least I’m earning more. I’m making money even before retiring and my retirement funds has grown way more than it would have been with the 401k.

[@larrypaul-cw9nk]

It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $25k passively by just investing through an advisor, and I don’t have to do much work. It doesn’t matter if the economy is crashing, great CFA will always make good returns.

[@sabastinenoah]

Do you mind sharing info on the adviser who assisted you? I'm 40 now and would love to grow my stocks investment portfolio and plan my retirement..

[@larrypaul-cw9nk]

Annette Christine Conte is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@sabastinenoah]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@GillerHeston]

It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[@rogerwheelers4322]

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

[@joshbarney114]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@FabioOdelega876]

@@joshbarney114 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

[@joshbarney114]

Finding financial advisors like Marisa Breton Dollard who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@FabioOdelega876]

I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Marisa Breton Dollard up and send her a message. You've truly motivated me. God's blessings on you.

[@annieromo74]

Thank you so much for this info. As a fairly new retiree (7 months), I so needed to hear these. Here is another reason I’ve subscribed to your channel. God bless you. 😊👍

[@HolySchmidt]

My pleasure

[@audiophileman7047]

Congratulations on your retirement, Annie. Now you have all the time to do things you've always wanted to do, and I hope you enjoy it! 👍👍👍

[@WilliamFluery]

@@HolySchmidt My pleasure? Did you work at Chick-fil-A?

[@davidcelliott]

On the home maintenance issue, my dad let his house get moldy because he had lost most of his sense of smell and spent a lot of time away from home. When he died, we had to throw away almost everything. We couldn't donate the furniture and tons of great old ham radio and electronics gear was ruined. We took a loss on the sale, but worst of all the buyers were unable too restore it. The walls and ceiling were removed, but in the end the house had to be torn down and replaced by a cheap house. This was a beautiful mid-century modern brick home on a great acre lot. I hope that eventually someone will build a nice house there.

[@timboehm8700]

I’m sorry to hear that about your Dad

[@davidcelliott]

@@timboehm8700 Thanks. He had a great life. The reason he was away so much was that he spent all of his time with his girlfriend, traveling around and having lots of fun (and spending my inheritance... LOL!).

[@terrydonnelly2524]

Thank you 🙏🏽.

[@denisplouffe514]

Being retired for several years, I agree with all of your recommendations. May I suggest that your Canadian viewers can make small adjustments to these valuable suggestions without changing the fundamentals. Thank You from a regular viewer. 🇺🇸👍🇨🇦

[@millerforester6237]

Leave Canada, which is becoming a Socialist paradise.

[@Pat_laura22]

Fortunately, my spouse and I were able to pay off our mortgage early. While we were both still employed, we took the money we had been using to accelerate our mortgage repayment and invested it immediately. Thanks to nearly 7 years of saving what would have been our mortgage payment and to maxing out our 401K/403B plans, we were able to retire early. Fortunately, both of our parents instilled in us the need of living within our means.

[@geraldhoward6351]

Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.

[@richardc488]

Thanks Mr S

[@barbiec4312]

Thanks Geoff.

[@peterschorn1]

Jack LaLane...now there's a name I've not heard in a long time. A long time....

[@bobkatc9368]

What about race cars and classic cars?😊

[@capt915]

What does this emergency fund look like ? eg. Cash, 401, savings bank account ? Love this channel.

[@SpookyEng1]

Mine is I-bonds and Money Market Funds.

[@DrSchor]

gold

[@deborahcaldwell9775]

EF for sure

[@LeTrashPanda]

Comedy and humor has become an essential part of my mental health along with an occasional massage, lol.

[@Catdaddy327]

👍🏽

[@patd2765]

Everything that kills me makes me feel alive.

[@clbcl5]

If you don't take care of #4, you become #6.

[@millerforester6237]

First, you have to take care of #1. Pun intended.

[@DjahAlanBinSueKu]

I am so happy. With the bear market of today, I was able to successfully test my strategy and make a significant profit equivalent to 3 months of what I need if retired. Thank you Geoff for your videos!

[@kevinh5349]

🙄

[@WilliamFluery]

I am so happy I changed brokers one year ago today. This past year, I made 3 years of what I need in retirement.

[@honesty5964]

Please try providing new information

[@owenpeller6471]

All true but what a waste of time. This is like saying, why don’t you get up and eat breakfast every day and remember to breathe. Idiotic.

[@conanthelib1]

Thanks from across the water. 🫡🫡🫡