3 Retirement Myths I Believed (and regret...)

Рет қаралды 18,352

Күн бұрын

Пікірлер: 68

@reawakenedcuriosities4386 4 ай бұрын

My husband and I retired 4 years ago, and I was only 48 then. My husband was the one who had plenty of fears to leave his stable job and he used to worry a lot that our money might not be enough for us to live a comfortable and enjoyable retirement. The last 4 years before we retired, I tracked our expenses and I knew full well that so long as we do not live beyond our means, we will be ok. For the last 4 years, 😊We’re now travelling for 8-9 months a year out of the UK and return to the country for 3 months to visit our son and other members of our family. My mother in-law and our son are very encouraging for us to travel and do the things we wanted to do. For the last 4 years we have already done 33% of what we wanted to do and we want more. Planet earth is so beautiful and we think our lifetime is not enough to appreciate what Mother Earth has to offer. We do have stresses during our travels but they’re the sort of stresses that keep us grounded and make our experiences more interesting. We recommend retiring early if you can afford it and do the things that will make you happy.

@alfonsohorcajada4399 4 ай бұрын

That's great to hear, sounds amazing. I want to do the same at 50. What kind of capital ssved/invested would you say would be "reasonable " to be able to quid and retire at 50? I am not a big spender and to me 20k GBP would be sufficient

@reawakenedcuriosities4386 4 ай бұрын

@@alfonsohorcajada4399 hi! First you have to estimate how long you think you’ll live. It sounds morbid but that’s the realities in life. If you think 20k a year will suffice, then multiply that to your predicted life expectancy, eg. If you think you’ll live up to 85 and you want to retire at 50, then then multiply 20k by 35, which is 700k. We are not financial experts but we watch the yearly cpi and inflation. We also know that in the first 5-10 years of our retirement, we’re bound to spend more due to our travels. After 10 years, our expenditure will be mainly focused on maintaining our worn out bodies, eg medical expenses etc. Also during our travel years, we stick to our yearly budget so we mix expensive and cheap countries to explore. Some retirees have better understanding of the 4% rule but we don’t rely on it. We are just so fortunate that hubby ended up with 2 final salary pensions and I have invested our money in properties when we were younger. So he relies on his pension and I rely on the rent of our rental properties.

@Simon-fm8yc 3 ай бұрын

Were you employed in public sector?

@VivaciousOM 4 ай бұрын

I’m 65 and working. My husband is 66 and working. We could have retired years ago. We just didn’t think about not working. I’ve finally said it’s time to create the retirement bucket list.

@ryanharriss7950 12 күн бұрын

At 50, retirement is becoming an ever closer reality, which is why I'm watching this video 😊. The scary thing is looking at the retirement pot!

@Steve-gx9ot 12 күн бұрын

Write down what you need monthly cash flow to be

@58slewins31 4 ай бұрын

just back from holiday, got about 4 hours 2GoRoam youtube to catch up on, keep it up, i love them.

@seanhoward8639 4 ай бұрын

I love your down to earth common sense videos. I also appreciate your transparency. While taking care of my dear Uncle in hospice I had an idea to interview him on video and ask him to tell his life story. And now that he’s gone its one of my most precious possessions. Can you please encourage people to film and interview their relatives. :-) take care

@mjbalmmac1588 4 ай бұрын

Good for Sara talking to mom each day. It does take effort and can be frustrating but when those calls stop you missed them dreadfully. Enjoy them now

@nobullshoot 4 ай бұрын

I got “one more year syndrome”. If i work one more year i can pay down my vacation home, I can buy a new car, I can get new windows, etc. I need to visualize retirement, not just running the financial numbers.

@philpatt970 4 ай бұрын

Working one more year gives you more year to add retirement savings, one less year you’ll need those retirement savings and one less year due to the stress of working another year.

@alinasimon6399 4 ай бұрын

Took my early retirement at 49 in 2014 to help care after my ailing elder sister until she passed away in 2017. Was so glad i made the decision. Syukur alhamdulillah. Now, am caring after my 68-yr old elder sister. I am the youngest of 10 and my elder siblings looked after me when I was young. Now I looked after those who needed my help.. We live simply on my retirement savings. Best decision of my life. Again, syukur alhamdulillah.

@VivaciousOM 4 ай бұрын

You are a wonderful sibling.

@dcan48 4 ай бұрын

Lot's of people can't afford to put proper food on the table,and afraid to put the heating on when they retire because of the huge bills, through no fault of their own ,the last thing they are thinking about is jet setting around the world. Count yourself very fortunate to be in that position.

@Steve-gx9ot 12 күн бұрын

Yes = at least 40 % of retirees are in POVERTY = POOR CATEGORY CANT pay food shelter Medicine bills

@robburrows2737 3 ай бұрын

Good videos! Really can identify with what you say. Retirement for me has been brilliant.

@paulrenwick6231 4 ай бұрын

considering renting my house out and live cheaply in Asia, job done

@peters5692 4 ай бұрын

Another awesome video! It's really inspiring listening to you and i'm really learning a lot too. Rather than waiting till the numbers stacked up, we did take the plunge and moved countries twice (with a new job lined up) in the last 10 years and love exploring places, go for a hike etc, albeit on weekends and holidays only. It's a great start!

@richardfox2865 2 ай бұрын

Dude, Your video just popped up for some reason. I like the relaxed style. Surely, working for most people is them giving up on their own life: life's purpose is not work... I quit work at 49. I didn't retire. I couldn't afford to waste my life working. I was ,and i still am, too busy to waste my time... we don't live forever. I am sure most people work because they just don't know how to fill their time with meaningful purpose. I like your content...😅

@dominic8218 4 ай бұрын

Loving your stuff. 👍🏻

@LuchoSuerte 4 ай бұрын

'Security is mostly a superstition. It does not exist in nature, nor do the children of men as a whole experience it. Avoiding danger is no safer in the long run than outright exposure. Life is either a daring adventure, or nothing.” Hellen Keller

@shopgirl1231 4 ай бұрын

Just on Friday my husband finally handed in his papers to retire in December ( his work requires 90 days notice ). I’ve been encouraging him for years to pull the trigger on retirement as we’re financially secure. We’re looking forward to travelling for at least half the year and possibly moving full time to Europe. Thank you so much for your video today, it was very timely for us 😊

@omrouk 4 ай бұрын

I have zero regrets retiring early at 45 to essentially start a new career as a Small Human Supervisor. If all goes well, I should never have to go back to work, but if it happens it happens. I’ve definitely lived well these past years. So the moral of the story, as you’ve said it, live your life while you can and don’t put stuff off until tomorrow if you can do it today.

@VivaciousOM 4 ай бұрын

All of us viewers can help you with pruning the spam by reporting it. Use the three dots next to any message and choose report. The spam ticks me off.

@richardn2129 4 ай бұрын

Retired at 50 years ago. Best thing I've ever done.

@JohnCroft9 4 ай бұрын

Another great video and think your comments are spot on We are both 62 and took early retirement at 55. We moved to Turkey and over the last few years have spent a lot of time in Spain and travelling. We are on modest pensions which enable us to do this. If we had stayed in England we would have had to have worked at least part time so fully endorse your comments on it being cheaper to travel and or live abroad 😎

@Steve-gx9ot 12 күн бұрын

I always listed 70 as last year to get set for retirement and have set up enough that 68 and 6 months is last goal = just 21 more months to go at 4 days per week!!!!

@oov55 4 ай бұрын

lots of truths in there....I am really really struggling with the 'big retirement decision' . I have had, here-and-there, some exciting life activities. Have taken chances, have made a few sharp 'left turns' etc. But, the "exit" decision is driving me nuts. I'm still full-on, 40+ hours a week, after a lifetime of challenges...but to STOP and retire is a challenge I have no answer to.,,

@BoninBrighton 4 ай бұрын

You need to have things that will give you purpose. Retirement gives you time to do the things you can’t do due to having to work full time. Learning new things, doing things you enjoy, going to places you’d like to visit. You could test-run retirement by taking a 6 mths sabbatical.

@richguest 4 ай бұрын

18 years of geo arbitrage completely turned my life around!

@barryfanning3124 4 ай бұрын

Enjoy your trip here, go easy on the Guinness, watch out for the seagulls and keep up the good work. Happy travelling

@wasillastacker 4 ай бұрын

I was born in New York, New York. Now I live in Wasilla, Alaska. Almost as far away a guy can get from where he was born and still stay in the same country. Luckily I am retiring at 62 in 2 years and plan on staying in Alaska. I love hearing your content sir. 🫎🫎

@lynnestait8011 3 ай бұрын

we have both lived in our home town since birth, 60 years, but once we no longer have my parents to care for we plan to downsize but move out of the area, as we live in one of the dearest counties in Wales, that way we can utilise some of the equity to supplement our pension until the state pension kicks in, as it will be another 8 years before we get both of our SP

@michellhuber3397 4 ай бұрын

Retired at 56 and have zero regrets. We sold everything. We are from the US, but live in Mexico to save $$$.

@fredflintstone2234 4 ай бұрын

Congrats. How much were you able to save to do so?

@joecoie7889 4 ай бұрын

Welcome to Cork Neil, hope you enjoy your time here. Enjoying your thoughts on retirement; but complaining about sunshine in Ireland in September will not make you popular here!😃

@Nordkapp65 4 ай бұрын

Sun hasn't risen yet for the summer, hence a in Spain for the beautiful sunsets.

@ianwhittaker3041 4 ай бұрын

Yes would be great to see a video with your ex colleague and hear about the first few months 'honeymoon' phase of retirement. And to here about their back story, the age they retired, and what annual budget they have for retirement. Thanks Neil :)

@simonwestgate4542 4 ай бұрын

Thanks for this thought-provoking video. Please could you continue your videos on drawdown strategies as you hinted last time that you had more to come. We are planning our final years before retirement and need more ideas on drawdown to work out how best to give up working and have a sustainable income. My wife and I are 65 and 60 respectively and based in the UK, with the HMRC tax rules applying. I just don't see how we can generate sufficient dividends income with an accumulation SIPP pension and ISA's. You must have a different investment strategy... gilts?

@BoninBrighton 4 ай бұрын

Travelling itself is hard work ie the actual travelling really isn’t much fun, but arriving and exploring can be fun in new locations…. or not if you don’t enjoy that aspect. Relocating every few months, can be fun but doesn’t allow you to fully immerse yourself in a culture and location. Relocating fully is a big decision and may need to involve learning the language, or only connecting with an expat community not locals.

@Corolla97ww 4 ай бұрын

Interesting video.

@michbel1574 4 ай бұрын

I’m a stressed out practice nurse, adopting a frugal lifestyle and putting half our salaries away each month so I can go at 60. I have so much more to offer outside of nursing and have worked out I only need to earn a-few hundred quid plus my nhs pension to live comfortably. It’s not worth making yourself I’ll.

@MadeNCda 4 ай бұрын

Hi Neil, Sara - I enjoyed this video very much. Fear def is a constant. But for me, it's $. When I was young I spent every $ I earned 😂 So now that I'm in my 50s I'm saving 30% of every paycheck. Such is life. I'll retire when I'm 70. Enjoy your time in Ireland. 😊 ✌🏻

@markeh1971 4 ай бұрын

Hi, I’m saving a fair bit into my pension, but don’t plan on waiting another 20 years to retire, maybe 6 or 7 more. I enjoy my job but realise that my time is limited. Take care and enjoy the life you have. M.

@drackkor725 4 ай бұрын

I must have missed the boat no idea how people got to be so wealthy and young and have no problems covering medical insurance and co-pay costs. 62 may be the earliest. But this would leave me 3 years to pay huge medical insurance.

@Steve-gx9ot 12 күн бұрын

FYI = The Biggest fear among retiring is fear of Running out of money or health! So no one knows when anyone will die. Just realize it might happen to.orrow

@Seven-Seven-77 4 ай бұрын

I struggle financially now, what’s it going to look like when I don’t have an income? The only trip I could afford without income would not be much. You obviously have money, that make early retirement a reality.

@JayandSarah 4 ай бұрын

This is true, this is not something 99% of people can do. That’s just life.

@Seven-Seven-77 4 ай бұрын

@@JayandSarah Post retirement we will be able to do some travelling like you do, I like how you travel on what seems to be a very minimal budget.👍

@JayandSarah 4 ай бұрын

Yep

@Nordkapp65 4 ай бұрын

I see a VFM vlog comparing costs living in Ireland versus Espania

@skifast1356 4 ай бұрын

Sometimes work is more fun than fun.Think carefully about retiring and make sure you have a plan.Everyone’s journey is different of course but don’t be seduced by others and what they say about retirement.

@markeh1971 4 ай бұрын

I had a year off when I emigrated to Oz and we had daughter no 2. That was time well spent. I’m looking forward to retirement, assuming that I still have my health and mobility. Lots I realised I didn’t do or see in the UK that I want to catch up on. Take care M

@ScooterOnHisWay2024 4 ай бұрын

If they still have to pay you an hourly or annual wage to go to work, then it is not for "fun." Retire ASAP.

@doojab 4 ай бұрын

All very nice if you have the money!

@Redeye196513 4 ай бұрын

Want to retire at 60 next year, but the autumn budget looks like scuppering everything - state pension age rises and means testing, 25% tax free pension lump sum....

@markeh1971 4 ай бұрын

Hi, for me it’s the same but 7 years away. I won’t know until I get there if I can do it or it will take longer and more saving. Tax will always go up but just see how it affects you. Take care M.