5 Things People Regret About Early Retirement

[@osuave7811]

Retired at 55 with a union pension, a good health coverage plan. SS will be the icing on the cake 🎂 .6 years later, NO regrets no more, making someone also wealthier. Be happy and maintain a good health life history, that is my purpose in life.

[@spinnetti]

I wish you'd consider fee only advising. %of assets probably makes you too expensive for me, and just want to do a one-time snapshot advice, not manage my investments.

[@edorofish]

Retired from the Army at 53 and everything is covered. Tried to work and realized I didn't want or need to work. I planned and saved money while serving.

[@AdamLevcross]

I agree with that James. The things i regretted after retiring from my 9-5 job of 35 years were lack of purpose, insufficient financial planning, reduced social connections and unrealistic expectations

[@finned958]

When you’re over 50, there’s no such thing as taking a lower wage job for less stress. Companies don’t hire old overqualified people. Even taking a demotion is difficult. To work in retail is a big step back for a fraction of their previous income. It might not work if they can’t do manual labor.

[@cyclenut9992]

Just had the last six months off due to an accident, this was a good dry run, I’m absolutely going to retire at 62. I don’t miss work even a little bit, I’m planning my life now and I have 18 more months and I’m done. I’ll work doing what I want when I want to do it.

[@gmanblue2026]

With markets at all time highs, P/E ratios through the roof, the Fed printing money, etc, I'm absolutely going into retirement next year with a conservative allocation.

[@gizmobowen]

Ari likes to call himself the "meanest early retirement advisor" but some of these things seemed pretty harsh to me. In particular the idea of quitting your high paying job so you could work more years at a lower paying job that you like better. I understand the premise, but for me, it makes more sense to just keep slogging along at the higher pay so you can check out earlier. I'd much rather reduce the number of years I have to work than jump ship to hopefully find something better. Too often, my experience is that when you go somewhere looking for greener grass, the grass just ends up being grass. I admire the fact that you have a job you love, but I've given up on that a long time ago and fully expect to love not working more than working.

[@davila0893]

"Flexibility" is the name of the game. Unfortunately, I was not aware of this until too late. 95% of my retirement is in pretax (401K and IRA). Still planning to retire in a couple of years at age 57 y/o; I plan to use the Rule of 55 for a couple of years then rollover my 401K into my IRA at 59 1/2. Also plan to do some Roth Conversions as needed/tax optimization. For medical, I'll pay reduced premiums on my company's heath plan until 65, then Medicare. Retirement will consistent of enjoying time with grandkids, taking care of aging parents, gym, volunteering at church, slow traveling through different states in the US and Mexico. If I do get bored or have extra time, may get a part time, only time will tell.

[@janethunt4037]

Preach it, James! I have a wonderful part time job and can work around it to get my European travel done. It's only 8 hours per week, so I'm not being taxed on my Social Security.

[@untouchable360x]

In life, we choose the pain of discipline or the pain of regret. Discipline weighs ounces while regret weighs tons.

[@James4cycling]

When someone has a physically demanding or risky job, they do need to retire from it but they need to have a plan moving forward.

[@theDoubleBassics]

LOVE your videos! Topic to consider, bring your health insurance connection back to unpack the scenario for early retirees if / when the ACA is rolled back and the marketplace goes away. Worried this is a potential new risk to early retirement plans.

[@EJJ-EvArms]

#3. Thanks for finally bringing up part-time work as a great transition to retirement, getting one's time while one still has one's energy. The point about lower taxes is also well-taken. It's also appealing to the employer who keeps an employee with Institutional knowledge around longer to help train their replacement(s).

[@jivefive99]

Being bored in retirement is old thinking. I have yet to find one person I know who retired and hated it. All learned to "enjoy the boredom." People find things to do. However, you have to have money available on the side for the unexpected that can warp your budget: car repair, house repair and health care/dental costs that were all unplanned. You need to have money or credit available to address those.

[@BiggMo]

Was disappointed to see Root Financial won’t work with anyone with under 2 million of investable assets. I need help, but as a 58yo blue collar single father I’m not quite there.

[@JB-uw5yh]

I really love what I do, but it is physically demanding and dangerous, so time to retire in my 50's. Ill have a pension, 401k, and bills are paid off. Im positive and looking to be as disciplined making retirement as successful as I was in my career. Its scary, but Im sure Ill adapt. I dont think retirement means sitting around doing nothing. I may work part time, I may not? I will stay fit, I will learn new things, I will stay active, I will keep a schedule.. If I make major changes, I will practice first. Funny how retirement is the goal, but when it arrives there is fear and some regret.

[@zekeharley]

i'd love to see a part time job that pays 80K per year.

[@suzanneemerson2625]

The only people I’ve known who retired early were too sick to work anymore. And they are broke and very unhappy because they didn’t make a lot of money, and hadn’t saved much. Now it’s too late. Very sad.

[@МЕГАПоЗиТИВ-й2е]

"But if you just retire thinking as long as you get away from this thing I hate and I'll magically become happy are are probably going to be disappointed." I completely disagree. There's no chance I could be "bored" if I stop working. Just not having to go to work and put up with all the sh** is a BLESSING. The only reasons not to retire early are financial. And no, please don't suggest finding another job.

[@KenNewman-v2w]

This is some great insight! I’m going to start practicing retirement.

[@Beadgcfb]

There's no point in selling the fear of regret. Help avoid mistakes, fine. Regret though is just an emotion, one that's pointless if it can't be corrected in the present. You're just beating yourself up.

[@jefflloyd394]

Thanks, helpful common sense we don't always think about.

[@ThomasColt]

I think not having a clear plan is a major issue. My friend retired early from corporate law and now feels lost. He misses the social interaction and mental stimulation.

[@DanW-nk7sn]

Another potential benefit of working part time until Medicare age (is that SOME employers may have medical and dental plans to help with maybe a FSA.

[@dbartholomew2]

Great summary!

[@atlastunderconstruction3523]

What kind of part-time job offers 80 grand per year salary?

[@fictitiousnightmares]

#1: You can figure that out AFTER retiring as well. You don't need to have something to retire 'to' first. If you feel lost, bored, etc. then you can find something to fill your life with WHILE retired. #3: ROFL! Sure... Making $150,000 full time and $80k Part time is completely normal. smh $80k is the max I made my entire life. #5: There are ways to access your 401k like the rule of 55 and SEPP payments. It isn't that hard to work around. Overall, decent points and I agree with most of them and it is all good advice.

[@karens6053]

wat is a good asset allocation for a person in retirement, to still get the growth needed to last through retirement?

[@briand4000]

If investments crash and burn, reverse mortgage the house + SSI and carry on until the reaper calls my number. Cannot predict ANYTHING, can only adapt, improvise and overcome.

[@crdeyalsingh]

Great messages 👏🏽🙏🏽👍🏽

[@GS850GLZ-82]

I'm a huge nervous Nellie, we'd have 2x or more had I autoinvested in equities😢. We're not out of the "game", our frugality kept our backs...but we could have been retired by now, mostly @ 53.🤷‍♂️

[@stevegorkowski3246]

When you don't need to work or you work part time for the fun of it , the days of continuing working can be a challenge when the BS hits the job. The same happens when younger workers take positions over you and the decisions they make are poor ones and it makes your job harder. The other problem is as you work longer less workers your age are in the workforce. You have less people that you can connect with. When I reached a point that I made more money retired than working what is the point.

[@davegalloway4160]

Great thoughts but, "According to most health data, the age where most people in America start experiencing significant health issues is around 65 years old; this is when the prevalence of chronic diseases like heart disease, diabetes, and cancer significantly increases, with many individuals developing multiple chronic conditions at this age"

[@fr9714]

Retiring isn’t fun imo. Achieving things is fun and doing things at the right time. You need to keep your mind occupied and working else you’ll be bored and lost. Also what you want from retirement is what to do with time and energy. You have to plan your money accordingly. Spend the money when younger and you have spare time.

[@bradleyvanzile1111]

I retired early at age 39 (medical) no regrets😊

[@franks4973]

Hi James appreciate your content. I have a planning scenario question. Say I have 2m in tax deferred, 200k cash, 62 yrs, and need 120k expenses after taxes. When I look at last 30 years, there are 3 down years for stock every 10 years and the high side is usually above 12%. My own funds averaged 12.5 over 20 yrs. Would a valid approach be to take out most of the pretax gains each yr, take some to live on and put rest in post tax dividend etf fund. In bad years I use my post tax $ and only take out pretax when it is positive. Once I get to 75 then red kicks in but it seems I would end up with at least 1m in post tax dividend fund and between that and s.s. Hardly touch my pretax balance. No one mentions this “withdraw in up year approach”.

[@marksirota3153]

Hello James, as a CFP what is your view on bitcoin and cryptocurrency investments? My nephew is also a CFP and he is not a fan of it. I enjoy your podcasts!

[@jimselvy6157]

The 401k has the rule of 55 meaning you can retiring at 55 and start taking money out of 401K penalty free. IRAs you have to wait until 59 1/2.

[@vipulchawda9496]

I still wish to Regret after I achieve FIRE

[@bruceeigsti5274]

Nothinh except healthcare

[@JFreeUNC]

Your work friends disappear quickly.