5 Reasons to Retire NOW!

[@ad9898]

My favorite financial advisor on KZbin, always sounds information, delivered well.

[@chrisbourne-retirementplanner]

Thank you that’s high praise! 🙏

[@10drowsy]

I retired last Feb 29 2024 at age 60. Today (7 months later) I'm still awake at sunrise and running full throttle bucket-list tasks until sunset time. Everything from inner shop project tasks, canoe/kayaking with family, ATV/UTVing, doing home renovation, doing yard maintenance, to doing monthly "drive about" vacations with my wife and also some local volunteer tasks. For me, it's like every day of my retirement is like previous Saturdays or Sundays (when I need a slower paced day). I'm not bored or wished I worked longer. 0uch! I now enjoy my days without professional stress and hope the daytime daylight hours were longer... When people ask what I do for a living, I simply say.. "I'm retired and loving it!". Then smile back at them..... When to retire? You know when you know. It's that simple....

[@chrisbourne-retirementplanner]

Thanks for sharing. It’s great to hear you’re living life to the max in retirement. If you can be at a point where you wonder how you ever fitted work in, you’re doing it right!

[@BobSmith-z5c]

Excellent and thought-provoking as always. Along with those from Pete Matthew and James Shack, I really look forward to your videos and have learned a great deal from you. However, now I know you are a fellow Wolves fan, you have been elevated to a position way above that Messrs Matthew and Shack could ever hope to achieve! Maybe one day I'll see you around the ground; if I do I'll stop you and say hello and thank you...let's just hope it's not in the Championship next season 😬

[@chrisbourne-retirementplanner]

@@BobSmith-z5c Please do Bob! I’m in the South Bank. The only silver lining about being in the championship would be the bar not being four deep at half time 😆 I remain optimistic though - the curse of every Wolves fan!

[@guyr7351]

As a Boro fan, we’re trying to get back to the PL but apart from the money I do wonder why. The gaps getting so big majority of promoted clubs spend their time getting hammered for 2-3 seasons then come down again.

[@robertpearce7795]

Literally waiting for a paperback copy of Pete Matthew's book to come through my door today.

[@Kalarandir]

The shout of when to retire is always a hard call for me, especially as I approach the day I know I can realistically do so. When my calculations show that delaying it for 3 years can almost double my money, putting it off is tempting. So it is always a good idea to appreciate what I have to keep my eye on it's about enjoying life, and not the money.

[@guyr7351]

The worry though is when you see how the pot is growing to keep delaying things so the pot keeps growing and then when is it big enough? My son is a FA and meets clients who have way more money in their portfolios than they will ever spend who just keep working, almost because they don’t know what to do if not working. That I find very sad

[@chrisbourne-retirementplanner]

Security is very important of course, but I think that the tipping point is knowing you’ve comfortably got enough to do everything you want with your time. Beyond that point, money loses value.

[@AgileSnowWeasel]

There's always going part time - frees up your time without using up your capital - even if you can't grow the savings as much. Some clever timing can put your "recovery days" during work hours too. And you get to have some human contact beyond the other half, if that. But you should only grow the pot as big as you need it to be. Work 3 years too long then end up in a care home early and you've missed out, and all that money is going into the pockets of a care home business. I think I'd rather risk not having much money after 80 than the other way around - that's when I've planned to catch up on all the movies and TV series I've missed by having work, DIY and children now.

[@davidhodgson3901]

The most honest assessment I’ve seen on this topic.

[@chrisbourne-retirementplanner]

Glad it was helpful David.

[@richpowell5449]

I’m an adviser too but think your content is awesome. Thank you. I’m a Bristol Rovers fan and taking my eldest to his first Gas away game today at Reading. I’m not sure which of us is more excited!

[@chrisbourne-retirementplanner]

Thank you! I hope he gets to see a win. I remember my first Wolves game… a 2-0 home defeat to Port Vale! Something kept me going though 😆

[@mangalsingh4036]

Hi Chris, Great video made me sit up and think. Im at that crossroads in life. Been thinking do i have enough to retire, or shall i work one more year to be on the safe side. Ive kind of come to a decision to retire and if i do struggle financially, then i could always take some part time work. I guess its all about being flexible aswell. Good to see your back regularly making good content. 👍

[@guyr7351]

Go for it you won’t regret it, seems mad when we’re younger have time off work for holidays or to do things and we wish we could have the income and not the hassle of work. We get older and were in that position but the. Find reasons not to out ourselves in the position we wished for as youths

[@chrisbourne-retirementplanner]

I’m very much of the thinking that you tend to regret inaction more than action. A decision to retire needn’t be permanent like you say, but I hope you have a very enjoyable retirement!

[@johnboyginger]

As my in-laws recently found out, plan all you want but if you get unexpectedly ill and need to pay £1000++ per week for a crappy care home, your investments etc are quickly taken by greedy carehome owners.

[@mccannger]

"Just one more year"

[@chrisbourne-retirementplanner]

Couldn’t agree more!

[@chriswiltshire2996]

Absolutely spot on, Chris. I took the plunge in March this year at 61 after sitting on the fence for two years and have had the best seven months of my life. A five-year annuity, taking me up to state pension age, gives me peace of mind and allows me to play the markets with the rest of the pot (up 13% in 7 months 😊). See you at Ashton Gate one day when we get promotion or Wolves drop down, as seems more likely 🥴

[@chrisbourne-retirementplanner]

Glad to hear it Chris! Sounds like a solid plan you’ve got. Got some happy memories at Ashton Gate - like Ryan Bennett’s last minute winner there in the year we came up. Magic!

[@chriswiltshire2996]

@@chrisbourne-retirementplanner 🙄

[@Mikey_NoCap]

As my favourite life guru said ‘time is precious, never waste it’. - Mr Willie Wonker.

[@chrisbourne-retirementplanner]

Love it. I should have used that clip.

[@steven-backpack-cycle]

Magic information as always Chris..thanks so much !

[@chrisbourne-retirementplanner]

You’re welcome! Thanks for watching 👍🏼

[@erzabetf9544]

I retired somewhat impulsively in the spring. And then I got a really interesting job offer. So I unretired three months later. I’ll work another two years and be done for good. Really.

[@chrisbourne-retirementplanner]

I see that a fair bit actually, and it’s great. The same opportunity may not have come up if you hadn’t retired, and if you were comfortable enough to retire in the first place, all income from this job is bonus. It’s great to be in the position where you can say I’ll stop the moment I’m not enjoying this new role anymore… total liberation!

[@erzabetf9544]

@@chrisbourne-retirementplanner That’s exactly right. It was leaving the old company, on good terms, that inspired the new firm to create a position for me. And someone from the new firm was just hired to fill my role at the old company. So … fresh start for both of us, more freedom for me, more money for him, new perspectives for both businesses. Win, win, win, win!

[@kjcornish3468]

Interesting about annuities. I didn't know that they are currently at a high that hasn't been seen for about 15 yrs.

[@chrisbourne-retirementplanner]

Yes they fell sharply when interest rates fell after the global financial crisis. We’ve probably had the best rates we’re going to see for a while, but they probably won’t drop to the depths they did reach anytime soon either.

[@robertjones3189]

You and James Shack sharing a lighting director now?

[@chrisbourne-retirementplanner]

Haha! Well, James does have the most seductive lighting in personal finance, he must have inspired me 😄

[@wakeywarrior]

Chris are you taking your own advice and retiring? Seriously, good advice. Reason 2 is an oft missed point. Retire, get to the gym and do exercise every day rather than 10 hours behind a desk. I’m aiming for 58 max. Problem is most people don’t have anything like enough money to retire at the ideal time- late 50s I’d say. So it’s not possible to attain for most, unless you’ve been in a public sector pension. This government will have us all working and paying huge amounts of tax to 70+ if they can. Doing the heavy lifting for others. The tax take now is so high it’s very hard to build wealth. My advice is get into a public sector/ unionised job or see if you can get work abroad with much less taxation so you can build savings.

[@chrisbourne-retirementplanner]

Oh yes you bet! I’m still in the stage where I’m enjoying working and building businesses at the moment, but I won’t be one who just works in them forever. As soon as I know the businesses can be completely sustained without me, I’ll have done my bit and it’ll be time for me to get out of the way for the next gen. I’ll then just make videos somewhere hot 😅

[@grahamscothern4319]

Great vid Chris as always. You must also be pleased with 2-2 against Brighton ! My son and I wasn’t 🤦‍♂️😂😂 Atb Graham

[@chrisbourne-retirementplanner]

Cheers Graham. Yeah sorry about that but it was a relief to get another point on the board! 😄

[@grahamscothern4319]

@@chrisbourne-retirementplanner Hi Chris yes at least it’s doubled your total! 😂😂 Sorry Take Care Graham 👍

[@seanbyrne2220]

Sound advice as usual

[@chrisbourne-retirementplanner]

Thanks for watching as always!

[@jordansmart3326]

Hi Chris how can I get in contact with you regarding some financial advice cheers

[@chrisbourne-retirementplanner]

Hi Jordan. Email address is in the About section of my channel, and also in the description of this video. I’d link it here, but YT sometimes blocks messages with email addresses.

[@jolivier1ify]

Great Clarkson impersonation haha!

[@chrisbourne-retirementplanner]

@@jolivier1ify Haha thanks 😆

[@OferGuetta]

Wonderful advice as always.

[@chrisbourne-retirementplanner]

Thank you! I appreciate you supporting the channel.

[@marton349]

On the flipside, I have known fit people retiring then they spent more time in the pubs and restaraunts while working through the bucket list that their health went rapidly downhill.

[@chrisbourne-retirementplanner]

That’s true! The balance has to be right.

[@AgileSnowWeasel]

Sounds like they had fun then! But yes, it seems the pints have a very deleterious effect on the over 50s and their long term health - or is it the excessive wine habit?

[@nicobass1966]

I tell you what - this one has set the scene for me. I've been crunching the numbers for the past 18 months or more and have worried more than I should about running out of money. I beleive i have enought to retire and working on running out of money at around 90, wife older, I've even trimmed this back at 87 and the numbers still stack up. I'm 59 next June and pretty sure with a good savings bank account including S/S ISA, cash ISA'S and a 450k pension pot, a small final salary pesnion pot I can pull the plug next year and have quite a few grand left over each year. My outcome at this point is more than I take home now ( some salary sacrifice ) but as you also said health is key - had a bit of a wake up call a few months ago but in the process of turing this around with healthy eating ( weekends I live a bit ), no beer ( in the week ), walking loads and general good health and feel so much better for it. You are so right with the water jug and many more should think the same - if all goes tits up there is part time work and that might be a good thing, thanks very much for this, very helpful, cheers Nick

[@Lord-Brett-Sinclair]

Similar situation and retired in April , best decision ever. I have a good IFA pays for himself time over.

[@nicobass1966]

@@Lord-Brett-Sinclair - must admit, did it all myself really - good maths and a good understanding of the market with low fees, helps alot

[@johnristheanswer]

Good luck living to 90 !

[@porschecarreras992cabriole8]

Great decision! I am 56 next year and I should be retired before 59 at the latest! Still feels so far away!

[@guyr7351]

Congratulations, as many advisors have said one of the biggest mistakes is just another year, and for many there is minimal gains in another year working. I had plans to retire April this year, I had my financial projections checked by a pension specialist, pension wise and then my son who was a recently qualified FA. All said yes it works. Was made redundant last November so just brought plans forward a few months. Best thing that’s ever happened, work to live not live to work. Have a few mates recently retired, non of us miss the grief and hassles of work. We meet once a month for a few beers all at different levels financially but we each have enough. I found once I knew financially I was ok and work was just delaying accessing my funds I had less and less interest in work.

[@Swipe650]

Reason 6: A Labour government

[@scotdoc]

Too right. I predict lots on videos on dying with zero now

[@chrisbourne-retirementplanner]

Haha! Yeah reason 6 nearly made it onto the list 😄

[@Bedtimechums]

On an individual basis, it's hard to disagree. Quality time is priceless. However, and I'm sure many people couldn't care less, but there's a big cost to society of people retiring early. We're going to have young people with little prospect of owning a house funding the retirement/healthcare of older people who have them. Or, and this is more likely, the state can no longer afford to provide us with pensions or free healthcare if we reach greater ages. There's no pension pot for the state - working families are the pension pot. Yes, we've worked hard to get what we have, but they might not have the same opportunity. Worth a thought at least.

[@porschecarreras992cabriole8]

But we only have one life to live so need to make decisions based on this.

[@guyr7351]

How is it a cost to society retiring early? The vast majority of early retirees are doing so due to having saved in their own/ company pension plans. I would suspect a small percentage are public sector employees with costly DB schemes as these typically have a retirement date of 65 and going early impacts the pension paid.

[@chrisbourne-retirementplanner]

I guess I’d have to say that any withdrawal of state support puts more onus on the individual to take responsibility for their future, and that’s exactly where the onus should be imo.

[@Bedtimechums]

Indeed, and we may well have been one of the luckiest generations to live ours.​@@porschecarreras992cabriole8

[@Bedtimechums]

​@porschecarreras992cabriole8 yep, and we could end up being in one of the luckiest generations to live ours.

[@DeputyChiefWhip]

I work doing my hobby and help a team of like minded individuals who share my values and passion for this job/hobby. I don't want to retire!

[@chrisbourne-retirementplanner]

That’s perfect! ‘Retirement’ can mean anything - it doesn’t have to mean just doing the garden, it can be the freedom to take up another job you enjoy more, where the pay isn’t really relevant.

[@johnristheanswer]

Good stuff. Don't those low hanging light bulbs annoy you, though ?

[@chrisbourne-retirementplanner]

@@johnristheanswer Thank you. No, why would they?

[@johnristheanswer]

​@chrisbourne-retirementplanner Looks like a bit of an obstacle course to get to your shelves. Potentially burning yourself on the way !

[@chrisbourne-retirementplanner]

Oh I see what you mean 😅 No fortunately I don’t keep much on those shelves apart from those plants! Apart from a bit of dusting now and then, the lights don’t get in my way.

[@RS-cp5wc]

Gulp. I’m resigning today. The end. I’m out.

[@neddythened2698]

Nice one. What situation are you in?

[@AgileSnowWeasel]

@@neddythened2698 He's only 3 days into his first job! ;)

[@3thinking]

Best thing I ever did was retire from dull, life sapping corporate hell.

[@chrisbourne-retirementplanner]

I hear you!

[@AgileSnowWeasel]

50 or 60 times in your life - at school, that's a single term, 1/3rd of a year. After 40, it's the rest of your life :(

[@chrisbourne-retirementplanner]

I know! You don’t even realise unless you sit down and really think about it. It’s scary how time can slip through your fingers as you get older.

[@FreaksSpeaks]

Lost two people this week. Scary.

[@chrisbourne-retirementplanner]

It really hits home when that happens!

[@neil18777]

Hi Chris, Love your videos, are you O’Neil in or out ? ⚽️ Nuno doing so well with Forest too !

[@chrisbourne-retirementplanner]

Oh I’m in the O’Neill in camp Neil. It was only at the start of this year that we were lauding him as the best manager we’ve had in years. We were playing some really good football last season, and finally able to score goals again after about 3 turgid years where we scored more than twice in a game on only 4 separate occasions. The problem is expectations and optics… GON came in last year knowing he had to work with what he’d got, and that galvanised him and galvanised the players. This season he made no secret of the fact that he wasn’t happy with the transfer window and that only sends one message to the players - we’re not good enough. And lo and behold, they’re playing like it. We’ve had a tough run of fixtures, but it’s still a long way back. Forest doing great. Another good win last night, Wood is like the Haaland of the East Midlands, and it’s good to see Nuno doing well again… he’ll always be a hero to us.

[@neil18777]

@@chrisbourne-retirementplanner I feel the same too. When you look at the finances at the disposal of the big boys I struggle to understand what the fan base expect sometimes. If Fosun are committed to the club would like to see some sort of investment in the infrastructure. The Steve Bull stand is 45 years old, that should have been one of the first things they addressed. Fingers crossed for a win today but I’m not banking on it 😂 Have a great weekend 👍

[@nickchudasama1148]

Better perhaps to reduce working hours and keep mind active . But , those toads in the Labour Government do not inspire me in any way whatsoever . See what happens in next week’s budget . Britain is broken . If I do retire , it will be abroad .

[@chrisbourne-retirementplanner]

Yes I’m seeing more and more that people who are mobile enough, are moving abroad… Not a good sign for any country when your comfortable middle income earners are wanting to leave!

[@Bluearmy76]

I went end of March. Was 48 the month before!! People told me I’d get bored. Bwahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahah No. Had a colleague drop dead in from of me last Christmas, he was 51 a few years older than me. Made me think about a few things. Sayonara 👋🏻

[@chrisbourne-retirementplanner]

Yeah those types of things happening are always an eye opener! Great age to retire 👍🏼

[@Bluearmy76]

@@chrisbourne-retirementplanner when i discovered you (and others on YT) over the last 3/4 years I realised many of the things I’d been doing since the mid 90’s (Pension/Tessa/ISA)was sensible and not a million miles away from your financial recommendations. Still learned a lot from you on top of what I already knew. Great channel. Keep it coming 🙏🏻

[@nickcastings1568]

2:46 You’ve just given ‘Wolves’ the incentive to put next years season ticket prices up! 🤫

[@chrisbourne-retirementplanner]

@@nickcastings1568 Haha let’s hope no one on the board sees the video!

[@bartz4439]

Retire NOW, you never know when labour will steal all your pension

[@robertpearce7795]

Making big financial decisions based on speculation is always a terrible idea.

[@bartz4439]

@@robertpearce7795 1. Not always 2. Give me 1 example when leftists made life easier and more free

[@akosiamarillo]

@@bartz4439minimum wage for example?

[@LordGreavous]

if football is the only reason you see your "mates" theres something else wrong

[@chrisbourne-retirementplanner]

Well, it’s not all that easy when you have busy lives and families. You will see some people more than others, but it’s easy for months to pass by unless there’s a reason to get together.