10 Things You Need to "Leave Behind" in Retirement

This video discusses the 10 things you need to "leave behind" in retirement. The video examines the beliefs and values from the past that hold back a retiree from having the best retirement possible. Most importantly, the video shows that with a little focus and the right retirement mindset, most people can dramatically improve the quality of the next phase of their life.
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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.

[@pls5201]

Good list. Only thing I would add is to leave behind regrets. We got to retirement, but many who wanted to didn’t. Let’s try to embrace it with as much gratitude as possible.

[@HolySchmidt]

Fantastic!

[@jeffb.2469]

That's a great one to add to the list. You can't change your past.

[@davidroush1224]

Amen. Within the last week two of my former work colleagues had cancer news. One retired about 5 years after I did and just called last week and said he was stage 4. Another friend who delayed about 7 years past me just said a couple days ago that his wife was stage 4 also. They had lots of travel planned, but the first year stayed put thanks to Covid then they had just taken a couple small trips this year so barely got started. Life is short, don't take anything for granted and smell those roses along the way.

[@MILGEO]

@@davidroush1224 Great point! Last year I got a call from the wife of my Chiropractor who left me a message that John passed away suddenly the night before at 58 and knew that he considered me a friend as well as a patient. I always thought that he was in better shape then I was so to say I was shocked doesn't begin to describe how much it effected me! And he was 5 years younger than me also! You could have knocked me over with a feather! With 5 kids and one still in high school, I'm thankful that his wife is a strong woman with a close Italian family to help them get through. I'm sure that he had different plans for retirement! 😔

[@tinalippincott9823]

Perfectly stated!

[@user-wt6zf4ek9k]

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 determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.

[@romiverajr]

This is true. 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 her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

[@laszlolee]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@krisgrigo]

@@laszlolee How can I contact your Asset-coach as my portfolio is dwindling?

[@laszlolee]

@@krisgrigo renowned for her proficiency and expertise in the financial market, “Susan Bauer Normansell” my financial advisor, holds a broad understanding of portfolio diversification and is recognized as an authority in this domain.

[@krisgrigo]

@@laszlolee Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@sammyelliott5554]

Been practicing this all my life. I’m 66, retired and debt free. House paid for, 2019 car paid for. All I owe is death and taxes.

[@kitsiewr]

And the medical industry - if you ever need to use them, all that good planning will evaporate into their coffers.

[@davidevans3498]

# 13 Leave behind the people you never really got on with - as life at this stage is definitely too short

[@markkeller9378]

Freedom from all debt cannot be overstated. It gives you a feeling you haven’t had since a kid! 😊

[@graywilliams_77.]

I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.>>>>>>>>>>>>>>>>>>

[@graywilliams_77.]

What I think everyone need is a Financial Adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit>>>>>>>>>>>>>>>

[@graywilliams_77.]

ROCHELLE DUNGCA-SCHREIBER,* That's whom i work with>>>>>>>>>>>>>>>>>>>.

[@Erikkurilla01]

Thank you. Just what I needed to watch. My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.

[@Lemariecooper]

you should consider financial planning.

[@jessicasquire]

It isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing.

[@patrickbrussels4454]

@@jessicasquire I totally agree, I'm 60 and newly retired with about 1.2 million outside retirement funds, no debt, and very small dollars in retirement funds compared to my portfolio balance over the past 3 years till date. tbh, the role of the investment advisor can only be overlooked, not denied. just have to do your research in finding a reputable one.

[@Erikkurilla01]

@@patrickbrussels4454 that's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well.

[@patrickbrussels4454]

@@Erikkurilla01 My specialist is *STEPHANIE KOPP MEEKS* I found her on a CNBC interview where she was highlighted and contacted her a while later. She has since give passage and leave focuses on the protections I center around. You can turn her upward on the web assuming you care oversight. I fundamentally follow her exchange design and haven't lamented doing as such.

[@ladysparkle6784]

Great advice. I just retired at the age of 58 100% debt free including my mortgage and it gives me great peace. I would add to get you home in the best shape you can possibly afford prior to retirement so you don’t have those expenses while your on a fixed income. We got a new roof, HVAC replaced, new water heater, garage and exterior doors replaced. Our windows are in great shape so we didn’t replace those. I have an emergency fund and am saving money to replace my car when the need arrives.

[@kh884488]

That's a great point.

[@Falconlibrary]

All great advice, especially about the house. A good fixup will last you a decade or two.

[@TheEvie202]

Great advice. Not true about Rolexes! Millionaires prefer Timex watches. Yes, they might own a Rolex, but they wear that Timex daily!

[@CheckThisOut77]

Wow, age 58 is young to retire, but congratulations. You hit a key…NO debt. Early Retirement Issue: Health care. How did you handle it?

[@CheckThisOut77]

@@TheEvie202 you are right. I am a multi-millionaire (not to brag, but to reinforce your point) and I wear a Timex (with an expansion band. It saves me time putting it on). I have a colleague that wore Cartier. He got robbed including his watch. Watches: I DO have two great-looking (but cheap) watches, too.

[@WhySoLoud]

I would like to add one more thing to your excellent list. Everything you own (or buy) will have to be disposed of when you die. After dealing with both my parents and my sister's stuff after they died (not all at once) I vowed to NEVER leave that task to my son. I've told him to take what he wants and Goodwill the rest. And the only "stuff" I now buy is from estate sales (pennies on the dollar) and only what I truly need to survive. Period.

[@hikerhobby1204]

Amen! I feel exactly the same! I’m trying to make everything as simple as possible for my son.

[@fetch33]

There is a method of downsizing called Swedish death cleaning. Lots of KZbin videos on the subject. One of my goals this year is to start this process.

[@philipem1000]

It took me nearly two weeks to clean out my brother's studio apartment when he passed away. Recently I took five SUVs full of stuff to donate to the Humane Society Thrift Store. I feel much better for having gotten rid of so much of my own stuff. If I need something or just decide I want something I'll look to thrift stores first.

[@patriciamogannam3616]

You leave behind your focus on accumulating money, but start to focus on how much time you have and your health takes on more priority.

[@davidpowell3347]

Converting some of the money which is just a tool for getting something worthwhile into something worth while (like a dream home where you can control your own time and do things you want to do,not things you have to do)

[@phmiii]

In my opinion, I think "stress" should be left behind.

[@cindyvitale9515]

I like the part about giving up the “Climb.” I do not want to be around competitive people now in retirement. I have no interest in joining an HOA, or anything else that brings out that part of people that I couldn’t wait to get away from.

[@JBoy340a]

I am of two minds about HOAs. They make rules you have to live within. But they also make your neighbors live within those rules. The last thing I want is a neighbor that never mows their lawn and has old cars with grass growing through them in their front yard.

[@WhySoLoud]

@@JBoy340a If that gets bad enough *Big Brother Government* will stomp down hard on that.

[@bernie9728]

Been retired for over 6 years now. The only thing I changed is that I no longer go to work. Instead, I do what I want any time I want. I spent 40 plus years planning for the day I would no longer need to go to work. Not only haven't I given up anything, I've added a few new things. The single most important thing you can do is to save enough money that you no longer need to worry about money.

[@JBoy340a]

Good advice. I don't see much change in the non work-related things I do. I have interest and hobbies I will likely continue for a long time. And I continue to get addition education because I like to learn and keep up with my interests.

[@philipem1000]

"Every day is Saturday" is how I explain it to those who aren't retired.

[@clbcl5]

Knowing when to start to de-clutter. Having to be part of cleaning out my wife's parents house of 60 years of organized hoarding made me want to start on our 35 years of crapola. Need to make room for all their stuff we need to save for our kids.

[@lenetteshaw4833]

😂

[@HolySchmidt]

Oh, that’s a good one!

[@timothykeith1367]

At least they were organized

[@clbcl5]

@@timothykeith1367 Organized to the point of saving bills and statements neatly in large envelopes for each year back to the 70's. Saving 300 cloths patterns for home made cloths for 3 girls used and neatly returned to their packages from the 60's.

[@davidroush1224]

We have cleared out both out parents homes and agree. We still have way too much stuff, but are getting rid of some all the time so making a little progress.

[@mchristr]

1) Never "sport shopped" 2) Clothes don't make you look good,, your level of fitness does 3) Let your kids make financial mistakes and don't bail them out 4) Keeping up with the Jones' will never provide satisfaction 5) Find contentment in what you already have 6) The top-floor corner office was never worth it 7) Take risks in relationships that benefit others 8) Unless you can afford a housekeeper, smaller is better 9) Pursue activities that cost very little (exercise, reading, learning an instrument, volunteering) 10) Appreciating debt=okay; $100k pickup truck=not okay.

[@godschild6694]

Thank you

[@jeffswoyer9898]

I've been shopping at Goodwill lately (when I shop for clothes) - make sure that it is clean - wash it after purchase

[@TheEvie202]

Great advice! I lived below my means my whole teaching career!

[@ag4allgood]

Hell NO # 3 ! Teach your kids financial responsibility EARLY so they don't go into the BAD DEBT trap ! It will save you thousands of $$$$ in " The kids Learning " ! Live a healthy lifestyle & stay off ANY medications !

[@davidwilliams2722]

Leave behind renovating, unless you just enjoy that sort of thing. If it ain't broke, don't fix it. Be happy with what you have. You won't have to put up with it much longer anyway.

[@nancylyon-gray3499]

Thurston Howell III! Oh, you are making me laugh! Right on for those of us who grew up on this. I am 63 and took SSN early. I lost everything in the stock market during COVID. I was a multi-millionaire. This just snuck up on me. I was retired since the age of 40. Now I am begging for a part time job ANYWHERE. This is so not happening. I have put all of our charges in a spreadsheet and have shaved off as much as my little charmed life will allow. One thing we also did was to build a 2-bedroom high-end apartment in the basement. We charge traveling nurses $2000 per month to rent. This has helped us so much. I remembered that when my grandmother went through the Depression, she had boarders. So I finished the luxury apartment accordingly. If you have the means to share your home to traveling professionals, it's a great way to get a big chunk of expenses paid - AND - I do very little with it as far as management goes so I think I qualify as passive income which does not hurt my SSN earnings.

[@philipem1000]

I got hit badly in the great recession. My two rentals lost all equity, my IRA's dropped 50% and I got laid off at 59 with no job in sight. It took me some time but I used what I had well and paid off the mortgage; got to 62 and started SS. One thing that was extremely helpful was having a HELOC on the house. It allows me to manage cash flow. When the Heat Pump failed I used it to pay for immediate replacement then took some IRA distributions in December and January to pay that back. When I was rear ended and my car totaled I bought a great replacement immediately instead of waiting for the other guy's insurance to settle. Then the water heater went out... I haven't used it in four years I think but at least I know where I could get bail money if I had to... (LOL)...

[@cohoanglervancouverwa6755]

Seems like you missed an obvious one: Your job. Let it go. Don’t look back. Don’t dwell on what might have happened or what more you could have done or how much more $$’s you could have made if you stayed longer. Move on mentally, and perhaps physically if your former job is close by.

[@susancook1448]

And it’s harder to do when you worked from home. I finally boxed up and sent old records back to my company so that helps

[@gmanmarx8705]

Good list. I am retired and have been for a few years and I am now Dept Free except for living costs when I tell my friends and family that I am debt free most cannot believe it and yes one thing to leave behind is regretting...Retirement is a new chapter in your life and I love reading the comments here gives me more ideas to help others love this channel...

[@AhJodie]

This was comforting.... I just retired this week, and had to laugh at some of it... it is wonderful. Your videos helped me get to where I am right now, thank you! I hope you make lots of money on here, because I know many are being helped too!

[@paulm4224]

The Millionaire Next Door, is an excellent read. I gave it to my children as a road map to financial freedom. I also followed it - now I’m comfortably retired. And enjoy driving my Hyundai.

[@jaywimer4415]

Leave behind all the paperwork, books, magazines, junk hiding in drawers, shelves, closets, and start to simplify life. Through life you collect “stuff” you may need someday that never comes, or when it does the stuff is rotten, dried out, etc. The other reason is you are so busy with life, work, kids that stuff just piles up - get rid of it so the family doesn’t have to deal with it! Less stuff means more life to enjoy.

[@philipem1000]

A long while ago I had to clear out my brother's studio apartment when he died. It took two weeks. Recently I filled the SUV up with donations for teh Humane Society Thrift Shop -- five times. Nothing feels better than emptying those drawers and closets and storage rooms and garage... and if I miss something (almost never) I just go to a thrift shop and buy it.

[@andrewforbes2577]

Excellent, as usual. Thank you for your efforts to provide these important videos.

[@HolySchmidt]

Thanks Andrew

[@ralphweber2522]

Excellent list. Thank you!

[@scottschultz7645]

Leave behind the couch. I know I worked all day and came home to the couch exhausted. If you retire to the couch it won’t be for long. Get a dog, we walk 5+ miles a day. Get a hobby, I got back into golf, now I golf 4 times a week, I also got a part time job that I use to buy woodworking tools for the long winters. If you don’t keep busy it will be a short retirement.

[@McGruph]

Thank you for this series. I'm retiring in two yrs and paying attention to all your videos. 🙏

[@esthernoel3793]

Thanks Geoff for another great video.

[@kevinfestner6126]

Accountants prefer Seikos over Rolex. I do like my Bulova. You know what I am looking forward to, evenings alone in the garden, coffee outside in the morning, having just close friends over, cooking, my inflatable 400 buck coleman hottub, and Green Acres reruns. I want to just do a seasonal accounting job. I am working on my revamped Beverly Hillbillies series, called the BelArabs. 😂. Great advice as always. One thing. Retire into a new life. I am making these plans, now. Make sure your forever home is the way you want it before retirement. If you have to work another year to make the changes, do so.

[@ppw8716]

Aah, I hear you. I too look forward to those things.

[@kevinfestner6126]

@@ppw8716 I have my Vegas loft townhouse and a paid for Salt Lake condo. I plan on sharing my time between the two.

[@HolySchmidt]

Fantastic point Kevin.

[@dan8753]

Retire into a new life. Wonderful!

[@johnhall4851]

Brilliant advice. Thank you.

[@ceezee9179]

I love your content! Thank you!

[@umanathan7722]

I learn a lot from your talks.Much appreciated.

[@billbrock85]

Thanks, Geoff, for these amazing videos. Happy to report that I’m newly retired and debt-free. Live within your means, recognize a “want” from a “need,” and sleep soundly each night. Works for me! : )

[@caseytcat888]

Exactly!! It pays off to learn the difference between wants and needs early in life. It's about priorities.

[@lisadonahue537]

Thank you for these videos. As a widow close to retirement I am trying to absorb all the info I can. I miss being able to discuss these things with my husband.

[@DiamondLil]

I'm recently widowed as well. Nothing can replace that sense of having a true partner in life--someone who is going to be there to face anything and everything that is coming. The loss of that friendship is profound.

[@richardsimms251]

Great talk

[@tedfisk1211]

Good video. I have been retired for two years now and I agree with all of these points. Debt reduction is very important and so is becoming more conservative in investments. Stretch out when you file for social security as close to your full retirement age as you can. As far as clothes, I have worn shorts and jeans for the past two years, leaving my working years clothes hanging in the closet. I would send them all to GoodWill, but my wife says I might need them. Maybe, but shorts and T shirts are really great.

[@philipem1000]

I did give my suits to the Humane Society Thrift Shop along with five SUV loads of "stuff". I have six pair of shorts and fifteen shirts. If my heirs want a funeral they can buy me a suit.

[@tdmshack]

Great List. Thanks

[@shvideo1]

Great tips, thank you. It is mostly about habits and vanity vs. practicality. It largely depends how you are wired, like are you a saver or spender by nature, but it is great to be aware of them.

[@mypointofview1111]

Very sound advice, thank you

[@stephendibari5010]

Excellent video Jeff ! I hear you 100%. I just paid off a big chunk of debt in June and I’ll be debt-free in January 2023 except for my mortgage. Last April 2021 I sold my 2013 Lexus ES350 and got rid of a $475 monthly note and bought my 2002 ES300. This car will be paid off in January 2023. No car payment is the way too go. My Lexus will last me 10+ years well into my retirement. I plan on retiring in seven years in 2029 at 65 years old and my goal is to be debt-free except for my mortgage going into retirement

[@directionofease]

Thoughtful, helpful presentation, as ever, Geoff - thank you. And, some great comments/additional recommendations from viewers. This channel pulls together a great community.

[@jayandriot6454]

Being debt free is number one with me. Out of the 12 cars my spouse and I had over 49 years of marriage only one had a loan, all the others were cash. I could and still can buy any car I want so long as I have the cash to pay for it. To me, taking out a loan for a depreciating asset like a car, boat, RV, or airplane is just bad economics. Saving and investing money was much more important than driving a fancy car. And yes it did make paying off the home loan that much easier. Being debt free allowed us to retire early.

[@scottmcamis2127]

Thank you.

[@billbrock85]

Bravo!! Same here! Welcome to the club! : )

[@mark-madison]

Excellent comments. Very concise, clear, full of wisdom. This should be shown to all people age 55-60 so they have time to get their ducks in a row before they bail out to those green pastures. Mark, MBA, age 70. retired and loving it !!

[@imacexpress]

Thanks for these videos -- I learn so much and they are constantly entertaining and engaging

[@travelingfool9096]

thanks for the good content.

[@kevindecoteau3186]

It's worth watching George Carlin's bit about "stuff"

[@mikerobertson3237]

Always words of wisdom. Thanks Jeff for taking the time to share your professional knowledge...

[@HolySchmidt]

You bet Mike

[@user-yj3ob9kd3l]

Great advice, thanks. It's hard letting go of the "old" lifestyle and needs, but I'm trying to stay focused on the new frame of mind and switching gears. I'm glad that I found your channel. It's what I need in the transition. 👍

[@HolySchmidt]

You’ve on the right track M. Keep going, you’re doing great!

[@renorob6170]

I can definitely relate to #3 - the PFO's

[@fryer05maverick31]

Great advice

[@janetvakili2946]

I would recommend factoring for inflation going forward in determining whether you can actually retire. If already retired, a retiree needs to examine where they can cut expenses now, to absorb the continuing inflation that will be with for the foreseeable future.

[@joycejackson9315]

Great advice.

[@yossicordova2374]

Excellent.

[@brianwhitehawker1756]

With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. I will be ''Retiring'' in two years and I have a goal of doing that with $1M. What measures can I take to ensure this?

[@codeblue11]

I'm giddy watching the maket tank as I buy as much stoc'k as possible across my port-folio. The key is keep buyng, don't let the naysayers change your mind. Recessions are where millionaires are created. I feel for the older generation, but if you are young or middle age, you should do everything possible to double and triple your investments.

[@codeblue11]

Definitely! I've been able to scale from $350K to $550K since April because ''Frances Annette Batista'' my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.

[@ervinmurray1253]

that's heavy! keep it up, I could really use the expertise of your advisrs, my portfolio has been down bad....

[@brianwhitehawker1756]

I just looked up Frances Annette Batista online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.

[@thomasrudy6132]

You don't know?!? That's easy, make a million dollars, put it in your bank account, retire. Your welcome!

[@pensacola321]

Thanks. This video is better than " A Three Hour Tour".😊

[@splod44]

The most important thing to leave behind is stress .

[@brians7419]

Holy cow, now you tell me! (Seriously, these are great ideas!)

[@GodzRod]

I’d like to leave behind the guilt of leaving others behind. I feel so blessed to have retired comfortably, yet I see others who struggle to survive into their senior years and up to their last day.

[@darcysalmon7781]

I totally agree. Finance is not everyone's cup or tea and everyone has their own life style. Unfortunately you can't help someone who doesn't want help either. I am always available for those that ask, but it is stillt very difficult to watch those who are suffering. I am so grateful that I did what I did and live the lifestyle that I live.

[@ddellwo]

RUBBISH - life is all about choices! You made yours and they made theirs! Don’t let their poor decisions infringe on your enjoyment of retirement……..!!!!!!!!!

[@swisskiwi1478]

Very helpful.

[@esteban1487]

I retired early in my mid 50s about 3 1/2 years ago. I don't miss working.

[@ladyketurahinwaiting]

I left behind the dream of getting to be a full time homemaker, have a garden, do ministry trips (instead of vacations). I had to give up my dreams because at 68 I continue to work so I can pay rent to people who lied to me. I see every day as being one day closer to getting out of the earth realm.

[@donreinholz8121]

Great video.

[@HolySchmidt]

Thanks Don

[@gemmel3197]

Having no debt was the best goal I ever had, it felt so good when it happened. I was retrenched 3 days later, they gave me a big bag of money and I literally danced out the front door into retirement.

[@corey1adam]

If we made some of these choices in our 20s we could retire early. Especially minimizing debt and sport shopping.

[@Jose_Jimenez]

I had retired last March, and my enjoyment is buying things off of the internet that satisfy my needs. My wife saved all our married life, and now she is able to spend for herself and the grandkids. I just love seeing the package sitting outside the door. It's like Christmas whenever I want.

[@citizenoftheuniverse]

good humour love it

[@wwz1011]

I replaced sport shopping with thrift shopping for resale. Same thrill, but you turn an expense into income. It actually can be MUCH more thrilling as you find a $5 item and turn it into $50 or $100!! I like to say now that I am retired: "it's easier to spend money, than to find more of it." So I left behind some of my foolish spending and got debt free. I am always surprised the # of retired people with substantial debt.

[@joelborden3242]

100% on leaving the business wardrobe and trappings behind. But it’s a big change.

[@philipem1000]

Been retired a long time now. I have six pair of shorts and fifteen shirts. I do have a couple pair of long pants in case it gets cold but I never need them really. I took five SUV loads of stuff to the Humane Society Thrift Store. I'm going to see if can't scare up one ore....

[@johnnyyu7439]

Thank you for clarify the notion of 0 debt from some promotional speakers to make them standing out. It should be depend on what debt and what is the net worth of the assert.

[@darleneatkinson3906]

Here my 10 things I left behind 1. my co-workers. 2. my driving vehicle. 3. buying new cloths. 4. stop setting alarm I toss my alarm clock out. 5. Getting up early. 6. Never went to work building again. 7. Stop spending on items I no longer needed since I stopped working. 8. No more to do list. 9. change my phone number. 10. Stop buying gas. That how it change once I retired 8 years ago. Thank you for sharing this video.

[@philipem1000]

I'm on the same page. I get up when I done sleeping. I describe it to others as "Every day is Saturday."

[@michaelsmith4904]

I've mostly ever done only three of these (#3, #5, and #9) and let me tell you, #3 is the biggest financial drain of them all!

[@anthonycantu8879]

I have been retired for ten years. I am now 65. I am still growing my real estate and stock portfolioa. In the beginning it was risky. Now that I have a considerable portfolio it is of little to no risk at all. I know what I am doing and my accumulated, and applied knowledge has paid off handsomely and will continue to do so. So, I submit that if you want to expend time, effort, and money on your pursuits, then by all means, do so. As long as you are on sure-footing. In everything there is risk, but only you determine if it is risky or not.

[@WoodworkerDan]

What I left behind was the city where I worked. When I was working, I lived in a city where housing was moderately expensive but the pay (in my field) was pretty good, so at the time it was a good financial situation.. But, when I retired, I could live wherever I wanted, so I found a city where I could buy a similar house at about one third the cost. So, not only was I able to pay off my mortgage when I sold my old house, I had enough left over to entirely pay for my new house plus I had a nice nest egg. Also, my new home is an area with more recreational opportunities and a much lower crime rate.

[@dking1362]

smart! enjoy your new adventures!

[@notroll1279]

It might even mean leaving behind the entire country (and in case of the US, also citizenship to avoid double tax reporting, let alone payments). There are countries with pretty good health insurance and lower cost of living that might help some who just can't make ends meet in their home countries.

[@WoodworkerDan]

@@notroll1279 I would consider moving to another country, but I"m not sure where to go. I looked into Canada, but they did not want me.

[@notroll1279]

@@WoodworkerDan I understand that many Americans spend their retirement in Mexico, Costa Rica or Thailand, with lower cost of living and health care in their favour. It's a pretty complex decision, with lots of things to consider individually (medical needs, ease of home visits, security, taxation, language...) - so it's not ideal for everyone.

[@richardarsenault1471]

This is a great list and I agree with pretty much all of that I'm still working however in however I'm 63 years old and probably will go at least another 2 to 3 years therefore giving me 80% of my salary and retirement but but people come on I mean enjoy yourself enjoy the rest of your life spend the money you want to spend Do the things you want to do my goodness it's not worth it be extremely frugal in life when you're retired those things should have been prepared for while you were working

[@carefulconsumer8682]

Many of the richest retired men I know where the same old pants and flannel shirts all the time even though they are worth over $8 Million each. Very candid video. Thanks.

[@notanomad9320]

#8 Most people own more then one home. Really? I sure don't but our modest home has been paid off years ago before my wife and I retired. Our focus now is to de clutter what we really don't need and work on some projects we never had time for. My wife is good about not accumulating junk. One of the things that I find strange is how huge these brand new single family homes their building in the suburbs are. Families are smaller so why do you need 4-5 bedroom and 3000+ square feet of living space? You have to heat and cool all this which just eats up your income.

[@HolySchmidt]

Thanks for the comment

[@ericjensen4434]

I’m not retired yet, but retired or not, leaving debt behind is one of the best things my wife and I have ever done. Being your own banker just transforms your life. I think anyone who achieves this probably has most of the other items on this list well under control.

[@penultimatename6677]

There is a fine line between making adjustments and giving up or living in the final act waiting room. If we give up too much then we are no longer living. Not that it is all about money. I'm not going into retirement to sit back in a rocking chair. I know you are not saying sit back but having goals that may appear to be the provenance of the young is ok. As far as I'm concerned my retirement in many ways looks similar to my work life.

[@lindaripp5902]

Thanks

[@lynnsee730]

Love your practical videos! Is the class system book you reference the Paul Fussell or something else? Thanks!

[@DeborahCaldwell77]

That was GOOD

[@jthev]

My plan to financially survive retirement: #1: Urge to shop? Go to a Dollar Tree. You can get 15 items for $20. (Actually, 16 items but there is still sales tax.) #2: Retired 10 years ago; still trying to wear out the clothes purchased 20 years ago for a really good job that came with a dress code. #5/10: Paid off all debts including the $50,000 consumer credit debt my late spouse left me. #6: Stopped climbing before retirement. Closed down my business and went to work for someone else. #7: Sold my city house; paid off my country house so no risks there. #8: The country house is a small ranch, is my downsize, and close to my best friends. #9: Letting my retirement savings grow on their own. Social Security and a small pension pay the bills and living expenses..

[@superiortransmissionpartsi5357]

What other tips have you run into since the inflation is hitting so hard. Also what is your budget for all the monthly food and entertainment and other costs/expenses you didn't forsee over retirement?

[@dking1362]

Beautiful! Life sounds good.

[@NorthDownReader]

Great list - upvoted. I thought that #5 and #8 weren't fully developed in the discussion - maybe there was enough of a hint there for each of them.

[@geoffreystone4849]

1. If you want others to be happy , give to others. If you want to be happy, give to others. Whether you declutter and take material stuff to an opportunity shop or sell on EBay, your life will be simpler. Someone less fortunate will benefit. Certainly the planets finite resources will be grateful. 2. Give of your time and expertise. Whether a lawyer, engineer, plumber, electrician or other you advice is of value. It may be to students entering career in need of a mentor or an association/charity that you can assist. 3. Learn to let go of things, material, thoughts, beliefs or other. They may have been important once but not now. 4. Tell your kids and grandkids it’s your time now. Let them know you have needs and are not 30yo anymore. It may surprise some that this has never dawned on them. . Walk on grass barefoot sometimes and smell nature. Lie on your back and look for animals in the clouds. Chill. It is ok to be bored.

[@vt356b]

Thank you for another inspirational piece! I know you speak from a USA point of view but I'd just like to pick up on the debt issue from an international perspective as here in the UK we have inheritance tax when people die with significant assets. In this case dying with assets AND debt can mean reducing or avoiding this tax and enables the gifting of assets to offspring early so as to escape or mitigate inheritance tax...

[@tancreddehauteville764]

You can only legally gift £3,000 a year without the amount becoming liable for tax.

[@davidsandy5917]

Regarding Expensive B.G. and the Rolex Watch. I had an economics professor tell me once that the richest man he knew did not own a watch. When you are truly wealthy, you don't need to think so much about time.

[@warrenpeece1726]

I have tried to leave behind my sense of time urgency.

[@morgan97475]

I'm still trying to figure out how Mr. & Mrs. Thurston Howell III managed to have a ton a clothes with them on that infamous 3 hour tour. Everybody else wore the same stuff but the Howell's wore a different outfit for each episode. WTF?

[@HolySchmidt]

Love it!

[@DrSchor]

They did it the same way Jeannie and Samantha did magic.

[@maryannbrown9952]

Ginger had a lot of gowns with her as well.

[@billkallas1762]

I found my groove by the time I got home, after the little party. #1 No, #2 No, #3 Kids are gone, #4 No, #5 I'm putting away more money now, than when I was working, #6 I don't "hang out" with people I've worked with, #7 Zero risk, #8 I've owned my home for 40 years, #9 I've "saved" more money in retirement than I did before. My expenses have dropped lower than I've dreamed, and #10 I retired debt free, and I've stayed that way for the last 8 years.....PS. The best thing you can do is start a Trust before you retire. That's the most important.

[@thomasrudy6132]

Glad I never felt the sickness of a rush from getting rid of my money.

[@theexpendables3152]

Thanks Geoffrey! Last year, I made a property sale and had over a million dollars in proceeds. I allocated $400k to index annuities and put the rest in the trending algorithmic trading. So far I've more than doubled the annuity premium from the stock market. However I won't discredit annuities in any way, they buy you peace of mind but then, if you need growth, try other stuffs. Concepts like algo trading and diversification of assets can be of great help for growth oriented individuals.

[@virgilhall6866]

I was wondering if investing in a cumulative ETF during this next decade is a sound investment. Or is it better to invest in a distributing ETF (even considering taxes)?

[@theexpendables3152]

@@virgilhall6866 I use Josephine Guevara Laporte's popular program. She's a chartered financial analyst. Look her up and maybe schedule a call. Might be the best bet for you. Consistency and smart diversification skills were the clincher for me with Josephine. My portfolio has gone around 23% up from the last two quarters.

[@mattgallagher9940]

Hi, I'm planning for retirement and have like $600k in a CD account with a very low interest. I only need $20k for liquidity purposes(emergency fund) and plan on growing the bulk. I found Josephine Laporte's official website after I looked up her name. She's got some impressive stats and qualifications. Just dropped her a message. What's the fee structure though?

[@theexpendables3152]

@@mattgallagher9940 Josephine takes ten percent of the profit she makes. And since it's an algorithmic based model, it's very much transparent. You can actually see what assets you have and how much growth your portfolio achieves over time.

[@mattgallagher9940]

@@theexpendables3152 Ok one more thing. Any idea if her services are available outside the United States? Thanks a lot.

[@daveschmarder-1950]

Own a small house. It fills up quicker and you stop buying stuff.

[@clbcl5]

One of George Carlins best... A place for your stuff.

[@daveschmarder-1950]

@@clbcl5 I remember that one.

[@krissimons1339]

Yep, my wife and I always stop and figure out what will have to go if we buy something and unless we are replacing an existing broken/obsolete item, we usually don't buy it.

[@davidpowell3347]

If you are taking care of other people such as an invalid aged parent and/or a mentally compromised sibling the load of hard to get rid of clutter multiplies.

[@sct4040]

True.

[@paulc1352]

I think number one is no mortgage. It makes a big difference.

[@MrPrimoPR]

Leave behind the hurry. If you have left behind most of the things on this list , it’s time to do things without a sense of emergency. I try to do the things I do , even exercises without a sense of being in a hurry to finish. The best labor saving device at my age (75) is MAÑANA.

[@davidpowell3347]

I am fortunate in that I don't enjoy shopping unless it comes to quality mechanics' tools and eclectic stuff like flashlights and sporting goods.

[@HolySchmidt]

I like those too!

[@ddellwo]

My weakness too - love me my tools……..😂

[@s.l.nicholson4240]

Great video. I think of having things more low maintenance. Certainly the landscape of my property but in other things as well. I want to focus on me time since I don't have much left of it.

[@cherylcampbell7495]

As long as your healthy work.

[@davidpowell3347]

Go back to #8:you probably want a house that you can age in and stay even if some physical aliments develop,in other words,sort of handicapped friendly. Important: you want to live somewhere that you can enjoy,close to whatever you most enjoy whether gardening (the parcel of land where your house is) ,fishing,or even running or walking and enjoying the ambiance. Near the National Forest? Near the run route where you once won the Cross Country Run? Being able to hear katydids at summer night and woodfrogs/tree frogs/other spring sounds in season? How about hearing the Barred Owl talking to its mate or brother at night? At age 70 to be honest you are likely to have a limited number of good years ahead provided that your health has not yet failed.

[@HolySchmidt]

Good point

[@markswanson1564]

Life has been described as “4,000 weekends”- if you’re lucky!

[@crosslink1493]

I've remodeled my single-story house over the last few years with exactly this in mind. It doesn't look like an obvious 'handicapped' person's house but is still functional if, for some reason, I start losing mobility.

[@davidroush1224]

When I built my house in the woods in my early 30s I designed it all to be on one level and even made the hallways 4" wider to allow for wheel chair access later in out lives. We are 7 minutes from the hospital, but out of town so nice and secluded with access to everything. House in in he middle of a couple hundred acre farm a friend owns with a lake and woods as well with hiking trails. Excellent bicycling are as well with both flat and hilly areas when wanting to push ourselves harder. We can stay here until the end if we choose though "just" in our mid sixties now. Trying to enjoy it while we can.

[@michaelcarver8373]

So true. We moved to Hot Springs Village Arkansas prior to retirement to get our roots started here. Real estate is cheaper here so retiring without a mortgage is doable. We were able to work from home and now we are both retired with no mortgage and no debt. This place is a hidden gem with pristine golf courses and several lakes as well as the national forest in your backyard.

[@pauljakubowski4322]

>Did I miss something?< Yes. A comprehensive review of the insurance you do and don't own. I'd argue that generally, payments on life insurance after retirement are pretty much wasted. Obvious exceptions - the husband who is forced to retire because he contracts cancer wants to leave enough for his wife to live on to a natural age. So keeping his workaday life insurance makes sense at that point. But that's the exception. Conversely, once on a fixed income, a legal judgement, say, from a car accident, can devastate a nest egg. Umbrella liability policies are cheap, and I'd argue that all retirees should have one. My two cents.

[@HolySchmidt]

Thanks Paul

[@thullraven1]

I agree about the Life Insurance. I have a nest egg with money put aside. I have basic Life Insurance because it's cheap for me. That's all I need. My savings can easily cover anything else.

[@davidroush1224]

@@Newbill17 I also never had life insurance beyond what was offered at work. My wife also worked there and made good money and we already survived on her salary and invested most of mine so we built up a large portfolio. At that point when I retired, that lump sum was larger than any insurance policy. We always had he umbrella policy as well, and since out 50s long term care insurance.