6 BIG Purchases Retirees Always Regret!

[@jaxi60]

Just before we retired we bought a second home in Como, northern Italy. We paid for it outright and it is one of the best things we have ever done. We use it as a base to travel around Europe and spend about 4 months there each year. We still have our family home in London and have no plans to downsize. Our grown up children come out to stay with us or use the apartment when we are not there - and they love it too. For me the thing is not “not what you shouldn’t buy” but budgeting within your means, so if you want an expensive car and can afford it, why not? I think it would have come across better if they had said “these are the things we don’t buy” because everyone has different needs, requirements and most importantly budget.

[@sct4040]

The soft lighting is very nice, I like it.

[@ThisIsOurRetirement]

Glad you like it! thank you 🙂

[@karenmurtaghyoga9195]

Sometimes I regret all the little wastes of money. They can add up as well!

[@ThisIsOurRetirement]

Lots of little things definitely add up 🌺

[@mimaroo1431]

Our truck is 10 years old and we owned our camper for 5 years. Both are fully paid off. We sold our starter home and we moved into an in law suite in our daughter's house. We help her with the mortgage, through our rent payments. Our trips are budgeted and we don't go into debt for them. My husband gets a generous pension and I have lots of savings, so we're doing OK 👍

[@ThisIsOurRetirement]

Awesome a great situation for retirement

[@marilynrybak9154]

I have never heard or known of anyone purchasing a larger house in retirement. Quite the contrary. I’ve only known and heard of people “downsizing.”

[@ddavidson5]

Regarding travel we have typically one big trip a year overseas and we winter in Mexico. Now, after renting for 4 seasons we did buy a place in Mexico. (I always advise renting a vacation property or 2nd home for a good long while before buying, be very sure before you buy.) It's now 5 years since we bought and so far our house there has held it's value. I look at as money that we still have, it's just not still sitting in the bank, but for sure it's not liquid either. In Mexico we are in the mountains so no heating or A/C is required, the carrying costs of the property down there are minimal, and we get to spend winters in pleasant weather for about the same cost as staying at home in Canada. It is certainly a luxury but for us no regrets. I think the big thing is: If you can afford it, there's no issue with buying or doing whatever it is you want, but don't rush out and do something just because you think you should. If you are a car person and you can afford it and the upkeep, buy whatever car you like. If you are a travel person, and you can afford it, then travel. All that money you saved for retirement is meant to be spent enjoying your actual retirement, especially in your early and most healthy retirement years. It'd be a shame to just let it sit in the bank until eventually you pass away and it goes to some combination of your heirs and the CRA (the IRS for U.S. folks).

[@gkennedy2998]

Don't buy burial insurance. It is a scam. Insurance companies don't even "reserve" for burial insurance claims because they don't pay them. Please, please, please put your money in a bank account with your heir on the title. When you go, the heir can access the money immediately to pay expenses. No burial insurance.

[@ThisIsOurRetirement]

Thanks for sharing 🙂

[@WendyPierceQHAcademy]

@@ThisIsOurRetirement Never thought of this. Interesting.

[@Savannah-ed4rv]

Burial insurance isn't a scam if you buy it from a reputable company.

[@sct4040]

Since retiring 2-1/2 years ago, I have not bought any large items. No 2nd homes, no cars, no RV, None! I have bought plenty of stuff the 10 years prior to retirement and have sold much of them. 😊

[@ThisIsOurRetirement]

Thanks for sharing! 🍻🙂

[@createyourshape9514]

We retired 3 years ago, downsized, kept our used cars! No regrets and now we can whatever we want! Watching our friends do the opposite!

[@ThisIsOurRetirement]

That’s awesome so pleased for you both 🙂

[@miketheyunggod2534]

But, you won’t.

[@twotipsytravelers6701]

No regrets now. But I will say, that when my husband and I got married we both sold our houses and bought another one. It was big enough to have all our kids come visit. The problem was our chilcren are all working so they don't come home as much as we would like. So recently we sold our home and downsized to a townhouse that has very little maintenance which allows us to travel and live at our cottage in the summer. I wish we had bought this years ago but hindsight is 20/20 as they say. As for the cars, both older cars. I always say, I don't want a vehicle anyone would want to steal. Great video!

[@BoninBrighton]

We’re the same we hung onto the family home despite our son living oversees! We downsized to a penthouse 3 bed flat with far reaching views it’s very low maintenance and 60% costs to run. Also very easy to travel and leave it.

[@ggjr61]

Vacation home: We knew a couple who lived in the north and had a vacation home in the south. They loved it and I don’t think regretted it but there comes a time when you can’t go back and forth anymore. They ended up selling it after about ten years even because though they loved the south their family was up here and that was more important.

[@steelbruin1]

Been retired or unemployed for 2 days now. The math says we have enough money but the emotions of spending is as hard as I heard it was.

[@ThisIsOurRetirement]

Congratulations 🥳 and yes it is real being able to spend is so hard 🙂🍻

[@waffles1ca]

Old savings habits are very hard to break, I’m still investing to grow income, I’ve been retired for 9 years… it’s a bit nuts but part of my fabric, parents who were raised in the 1930s

[@alexandrailnyckyj6059]

Not everyone loves travel. Some people love home and having a gorgeous home to share with family and friends for entertainment brings a lot of joy. And it’s darn beautiful just reading a book in your lovely sitting room. So we did upgrade the house and no regrets.

[@CarneyFelonLawyer]

I agree. I did sell my paid off home a year ago and reaped seven figures for a very comfortable retirement.

[@JMichael2x2]

My wife and I are in our seventies, and still enjoy gardening and home maintenance - the way I look at it, you’ve got to remain physically active, and devoting your efforts to improve the quality of your environment seems like a great investment. It’s such a pleasure to share times together with family and friends making memories - grandchildren enjoy taking turns going for sleepovers at ‘grandma’s place’! Certainly the day will come when we will have to decide it’s time to resize where we live. Fortunately we don’t need access to the assets in our home to finance our retirement.

[@boohoo4962]

The lighting is great. It really shows off Tina's beautiful eyes. 😉 Time shares are probably another huge regret.

[@ThisIsOurRetirement]

Thank you 🌺🙂

[@sagerolson5357]

Just stumbled on your channel a couple of weeks ago. Loved the excellent advice. Of course, these 'regret'ful decisions aren't an absolute, but for most people this hits home. Most aren't wealthy and your insight helps them enjoy their golden years. Thanks for your insight.

[@ThisIsOurRetirement]

Thanks so much for watching our video, we do try and make content for viewers to question their situation and join a discussion in the comments section. Thanks for sharing your thoughts.

[@gyoung4597]

My father had bought a large, brand new car two years before passing away. Because of cosmetic marks around the outside of the car, we were only able to sell it for 1/3 of what he had paid. He was 81y.o. when he bought it and it would have been more practical to have bought a nice used vehicle instead.

[@ThisIsOurRetirement]

Good point thanks for sharing

[@lumpygravy52]

The one regret I have is not about spending, it is about not spending on. When I retired I kept my health plan, but did not continue my dental benefits. It didn't seem worth the extra cost. Then of course a few years later, I needed a bunch of dental work not covered by insurance! Big mistake. I now have dental insurance again and my teeth are doing very well.

[@ThisIsOurRetirement]

Dental 🦷 is very expensive 🙂

[@bonniebrown1305]

Before retirement I worked in a dental office. I saw a few people with private plans they paid monthly for, with very poor coverage. Now that I am retired, I have a bank account I call "medical and dental expenses" . Every "pay day" I move money into that account. You will find this is much less expensive.

[@wrongwayconway]

My partner (retired 7 yrs), has a cottage on the water, recently spent 15k on a new boat because he really really missed not having a boat (he sold his old junker 2 summers ago). 🙄 in my frugal opinion the cottage (which he still has a credit line on it to pay off) is a big expense AND now he's bought a boat (which turned out to have problems). All those things cost money to upkeep! Gas prices at the marina to fill the tank of a boat?! 😬😲 Not my idea of a wise use of funds. I said sell the cottage. You want to enjoy cottage life? No problem: rent one for a month every summer...no taxes to pay, no hydro, no lawn maintenance etc etc.

[@ThisIsOurRetirement]

We are with you on renting and boats are money pits

[@honnorjustice]

Making pre retirement purchases for things to do in your retirement. Books, crafts, and videos! Now I will never get through it all and it’s clutter and so much money tied up that I will never recoup.

[@sherylriehl1334]

I did that toooooo!!! 😱

[@StephenOshea]

back in the day it was very common for most people to own a vacation home . yet now i. think that very people can afford for all the upkeep in retirement

[@ThisIsOurRetirement]

It is difficult in this financial climate

[@sherylriehl1334]

My MIL passed away and we did use some of the money to buy a newer vehicle and a very small trailer and we travel with it. We love it and allow $5,000 each summer for our fun. So far - with health issues we can’t get travel insurance - so Ontario is a mighty big place and we are loving our travels. We are staying in our paid off townhouse in the big big city for now. We are kind of close to my mom who needs help sometimes. So far - life is good. ❤️😀

[@hermacoutts8587]

No cruise right now (husband waiting for hip replacement surgery) but we do go on road trips. Bought a 2019 RAV4 hybrid (not a plug in) last year as our Lexus was very old. Love the savings on gas for our road trips. Still living in our no mortgage home. When Don had his new hip, watch out world, we’ll be travelling again.

[@christinebutler7630]

Regarding vacation travel: if youre of my way of thinking and what you see and do on vacation matters more than fancy sleeping and eating....hostels are not just for college kids. We old farts can use them too. I also go hiking, backpacking, kayaking, climbing, rafting in gorgeous stunning remote areas. My equipment was expensive but i bought it years ago, slowly, piece by piece, and its lasted well.

[@ThisIsOurRetirement]

We travel with too much expensive camera 📷 and computer equipment that makes hostels unrealistic for us 🌺🙂

[@glennet9613]

That lifestyle will not only give you a fantastic retirement but also keep you fit and healthy so you have many more years of enjoyment.

[@brianmombourquette2673]

We did actually spend on a new, small trailer, and with some 'extra' cash after selling our large home and downsizing, a small truck to pull it. But we use them very well, to enjoy inexpensive and extended trips across the country and the US. No regrets but we did it with economy and potential use in mind. 😊

[@ThisIsOurRetirement]

Sounds great Brian

[@jeremy1350]

Hi Tina and Norm. I like the nice warm lighting. It is more "Living Roomy."

[@ThisIsOurRetirement]

Thank you 🌺🙂

[@BMGrilla60]

I “retired” 7 years ago but had an opportunity to contract my services for another year (which turned into 4 years). The extra years of the best income of my career allowed my wife and I to check off every retirement preparation item we could think of and then some. I completely retired 2.5 years ago and since then have dedicated ourselves to travel. I give kudos to Norm and Tina as I agree with most everything they say and more importantly, have found most everything to be true. Based on their advice and experiences, we are planning on wintering in Portugal next year. Keep those tips coming Norm and Tina! They are great advice.

[@ThisIsOurRetirement]

Thanks so much hope you enjoy Portugal 🇵🇹 Cheers 🍻🙂

[@monicaambs]

My friends bought a travel trailer and sold it after 2 years because they just didn’t justify it enough to keep it. They bought a above the ground swimming pool instead and that they really use.

[@ThisIsOurRetirement]

Sometimes it’s a learning experience that you benefit from 🌺🙂

[@joy945]

Very good advice all around! Though you mentioned it, I think it bears repeating - if you are going to have big expenses or purchases, make sure you have budgeted for them. If you have a good budget that includes things you want, but don't actually need, like expensive vacations, support for grandchildren, new cars, and your budget is robust, then you can spend when the time comes. If, out of the blue, you suddenly feel the urge to spend a lot of money you haven't budgeted for, watch out!

[@ThisIsOurRetirement]

Great tip!

[@Jocantral]

I like the lighting. It seems a bit softer. Thankfully, I don't think we purchased anything we regretted after retiring. We did have to buy a new car, but it was a reasonable price, and a model that no one would want to steal. :) Very important in these days of car theft.

[@ThisIsOurRetirement]

Isn’t that so true don’t buy something they all want to steal 😂😂😂

[@lizaroberts2954]

I have a 2015 Chevrolet Trax that I adore .. just took it in today for it’s regular maintenance check up.. it was $1000 for things that needed to be replaced/fixed but that’s okay.. I love my car and we’re going to age gracefully together 😊❤

[@ThisIsOurRetirement]

Awesome

[@sharischmidt4712]

Certainly agree with you on the second property. We have a knows couple that have a half built house and Costa Rica and half-built house in Collingwood they've run out of money on both so now they're just both homes sitting unfinished. His excuses are that he's always has to have a project to do because he was in construction but they have put their financial well-being in jeopardy because of his immaturity. Great topic!!!!😊

[@scrappylifter8318]

Great topic, and I love your lighting! My home won’t be paid off when I retire, but my financial advisor has the mortgage included in my retirement plan. My monthly mortgage payment is about half the rental of a one-bedroom apartment! I’m a believer that travel shouldn’t wait for retirement. I’ve been traveling throughout my career. It’s easier to travel when I’m younger and still getting a paycheck. I prefer renting a home where I vacation. I don’t have to pay for property taxes and home repair, etc., and I’m not committed to one location. Norm, “I salute you” on your choice of T-shirt! 😂

[@richardd1329]

We have owned a home in SW Florida for 35 years, and when we lock up to come back to Canada we always turn the AC off, and have never had a problem with mold. My advice when you leave is turn everything off. Our biggest regret about buying a home in Florida was not having a crystal ball at the time, and not being able to see the depreciation of the Canadian Dollar against the US Dollar, which at this moment is around $1 US = $1:40 C. It's making us think seriously about selling up and looking at other options for getting away from Canadian Winters. Always look forward to watching your retirement vlogs, please keep them coming.

[@robertross8565]

Even if I won the lottery, I wouldn’t buy a 2nd home. I agree with Norm regarding boredom. An RV is a gigantic waste of money. They are made poorly and depreciate quickly.

[@ThisIsOurRetirement]

Thanks for watching 🍻🙂

[@sarahsmom1002]

Totally agree about not buying a 2nd home even if I somehow came into a windfall of money. At this point, I'm looking for my life to be less complicated--especially when it comes to things I own--rather than have more to look after.

[@hemacdonald400]

Your new lighting is very flattering, I like it! We got rid of our car last year after we sold our condo and began renting. We are members of 2 car share companies and also use public transit. We are saving at least $300-$400 a month. Living downtown in a big city we walk most places anyway, so do not miss having a car whatsoever. Neither one of us a big consumers and don't make big purchases. Instead, we spend money on travel and have those types of experiences rather than buying stuff.

[@pamelagoodson9034]

Lighting seems to be more 3D. Like it

[@ThisIsOurRetirement]

Thanks Pamela 🌺

[@BcDano139]

I love the lighting! Don't let ego get in the way of freedom. Retirement is about freedom, not material bondage.

[@masterdad-zf9po]

Why on earth would anyone want a bigger house following retirement? Seems very odd to me. I’d love to downsize but my wife said no way, so we’re still in the family home we brought our kids up in. Long term it likely makes some sense financially (we’re in downtown Toronto - prices seem to go one way here), but maintenance costs aren’t cheap. Totally agree about supporting kids - it isn’t sustainable long term and it does them no favour, subject only to when they’re just starting out, if you can help out, that’s great. You can’t take it with you …. I thought for years about buying a second home in the south of France but the idea of going back to the same place all the time woke me up to reality - it’s more fun to explore. We’re collectively talking about first world problems here 😀

[@floridastitcher1]

We are very blessed to have these options. It’s nice to dream and sometimes to live our dreams. #thankful

[@lmr691]

You are doing it right, traveling as often and to places far away. We did some trips but cut back thinking we needed to watch the budget. We are much older and less able to get around, some days wishing we had done more travel 20 plus years ago.

[@lydian5762]

#2, I remember my mom trying to buy a 3 bedroom home with full basement so she could welcome her grandkids, man I am so glad we convinced her to get a condo instead and now she can travel and just lock up the home on one of us checks on the home. Best decision EVER! it is also less stress knowing mom does not need any home repairs or being snowed in, all that is taken care of thank fully!

[@ThisIsOurRetirement]

Good move 👍

[@joypeterson3002]

We regret moving to a smaller town from a metropolitan area. We’re further away from our son and his family. In addition, we miss all the amenities of the larger city. As soon as possible, we are going to move back.

[@derekcox6531]

My wife and I often talk about this. We inevitably start with “I want to get out of the 1.6 mil city” …then we start talking about all the conveniences we have here…then the “retire to a small town” discussion becomes a tad muddy. Even though both of us were born and raised in tiny communities on the east coast. It’s a legit dilemma.

[@joypeterson3002]

My husband and I were both born in small towns. I would’ve never thought of myself as a city person. Perhaps it’s that our needs have evolved and the city provides those resources.

[@paulachristie7807]

We live in a city and often complain about traffic and other city problems. But when we start thinking about what we would give up, where we live starts looking good.

[@freedomlife3623]

Don’t forget all the referral hospitals are all in big cities. I saw many retirees moved to small town, have to move back at a greater cost when they need medical cares only big hospital can provide.

[@ThisIsOurRetirement]

This is a very hard decision Joy when we moved from outside Ottawa to a smaller town in Southwest Ontario one big plus was our son and family were there. However as you get older being in a smaller town has lots of other plus’s and we are now nearer to Toronto airport for any travel etc . Good Luck 🌺🙂

[@GraemeNelson-m2x]

Love the lighting. No need to buy big ticket items now that we’re retired. Don’t feel the need to impress anyone. Maybe you could do a video on mental attitude. Thoughts/attitudes that you don’t need to hang onto anymore.

[@WendyPierceQHAcademy]

With you Nooorm. Reasonable buffet vacations rather than the same spot year after year. We love the variety.

[@petejohnson5594]

Bought the vacation home in Colombia S.A. In Andes mountains. A.C. not needed. Minimal electricity needed. Savings on meals and travel around S.A. from there (tickets much cheaper than from U.S.) more than pays for the round trip ticket there and back. As the condo appreciates.

[@nelsonv741]

We should note home insurance on a property in Florida will cost you dearly, IF, you can even get it!

[@ThisIsOurRetirement]

Yikes …sorry to hear that Nelson 🇺🇸🍻🇨🇦

[@williamjsmith9877]

Just shop around, I change most years, but lets face it the sunshine is worth iit.

[@Traveler509]

Pretty good advice Norm and Tina, I think you are amazing people with just sensible advice, kind of rare in this day and age, lol.

[@dellnichols4625]

We bought a very inexpensive place at the beach for a vacation property. A year and a half later we found we were there more than at our primary residence. So we sold the primary residence and moved permanently to our vacation home. We invested the money from the sale of our home and we pay for pretty extensive travel from the earnings on our investment. Downsized 85% of our belongings and don’t regret it a bit! When we have a big family get together, we go to one of our children’s homes.

[@edsedlak6827]

#1 Softbox lighting 😁 Agreed, people spend far too much money on cars because they "deserve it" . If you really can afford it, knock yourself out! But seriously, most people can't afford it. I look at a new big screen TV and look at it as "that will buy me a vacation" . I always ask myself: will this really make my life better?

[@ThisIsOurRetirement]

Very wise words

[@floridastitcher1]

We just bought my mom a 55” TV at Walmart for less than $300. Go for the big screen, they are cheaper than they used to be!

[@angelalewis7868]

Best lighting yet! You look great, no pale ghost appearance clear and crisp! Is that enough adjectives, lol.

[@ThisIsOurRetirement]

Thank you for your feedback Angela Cheers 🌺🍷

[@brians7419]

We are retired 7 years and admittedly guilty of most things you mention! On the other hand, we both had a recent health scare. Life as we all know is short. No regrets. As always, thanks for sharing your thoughts. You two are great!

[@johnnyboyvan]

A serious topic with great advice. 👍 As a recent retiree I have ample money, no debts, and a good DB pension. I havent really spent much...yet! Almost one year retired now. I love the lighting. 😊

[@ThisIsOurRetirement]

Glad you are enjoying being retired and thanks for liking the lighting 🍻🙂

[@gloriaburton6213]

Like the soft lightening

[@RoseGrace100]

Great advice. Go home and think about the large purchase for a few days.

[@Lynx5371]

Great timing on this! I almost made a mistake on buying a vacation manufactured home in our favorite place, Venice, FL. I coukd live there year round but my husband can only take about 3-4 months. The home is not that expensive but the lot rent is ridiculously high. We just plan to continue on with renting and do our other travels. We are currently planning our second Hawaii trip.

[@ThisIsOurRetirement]

Oh we hear you a few years back we nearly bought a manufactured home in Florida the price was great but the lot rent was nearly 1K a month 😱😱so didn’t 😂😂

[@RockinGrammie-h9o]

Years ago I had to tell my elderly mother to STOP giving money to her adult children (in their 50s and 60s) for Xmas. My siblings were not happy with me, but our dear mom was complaining about not having enough money for clothes. She may have been exaggerating a bit but holy cow, there were some unhappy campers after the gravy train ran dry. So yes, it does become an expectation if it goes on too long. As I near retirement, I have already cut back on gifts; not completely stopped but have curtailed and explained why.

[@marilynrybak9154]

We have a second or what you might call a vacation home. We love it. Don’t regret it. We allow our sons and their families to use it anytime they want. It’s at a ski resort and large lake. We just need to get it paid off in two years, which we will do. So let my as we can afford the property taxes- we will keep it. We also didn’t specifically buy it as a second home. It’s my husband’s house before we got married. We just decided to keep it. We did rent it out for three years but decided no more renters- we remodeled it and keep it for our and our family’s use. And, we LOVE 💕 it. I can understand for many people, they may regret buying a vacation or second home--in this case- simply sell it. It is a sellers market right now as there is a shortage of houses.

[@jenniferh3858]

How about expensive golf club memberships! My husband isn’t retired yet but he’s a big golfer so thanks for the warning😬

[@ThisIsOurRetirement]

Your welcome ⛳️🙂

[@CarneyFelonLawyer]

Have you made these mistakes? I am 70 and bought a house on the beach a few years ago. I sold it one year ago and made seven figures which allowed me to retire.

[@wcg66]

The new lighting makes you look younger :). I'm only recently retired so I haven't had any regretful purchases yet. However, one thing I tend to do is buy something and then suffer from upgraditis, where I want to get the new/better version. Often, it's better to get the product you really wanted in the first place. If it's expensive then budget for it. Buying cheaper, similar products will only end up costing more as you "work your way up" the upgrade path. Anyone who is into audio equipment, for example, knows what I'm talking about.

[@ThisIsOurRetirement]

Thanks for sharing 🌺🙂

[@Banthah]

There’s a saying in our house - you buy shite you buy twice. Now, we’re very frugal and we don’t buy expensive things just for the sake of it. But sometimes that “budget” option just ends up in the bin and we end up buying the good one we wanted anyway…

[@marymarymillidweeb2661]

I just retired this past April and went on a lovely trip just for some heat to Curasao. I may get over to the UK soonish to see all my cousins but that will probably be it for my traveling. Not too many wise decisions in my retirement funding! But I did buy an expensive electric car about 6 years ago in preparation for this retirement. Up til then I had a lime green Challenger - yes with the Hemi. lol I knew that car was going to be very expensive to maintain so I bought the small Tesla. The only money I've had to put in to it has been winter tires. I charge it overnight on our ultra-lo hydro so I think it's a win. No loss to the batteries as of yet either. No other crazy purchases other than moving out of the city to the country - but that was a gain.

[@GaryNaples]

Very soothing lighting…

[@ThisIsOurRetirement]

Thank you 🍻🙂

[@champ1238]

I enjoy your videos because like you I am planning on down sizing in retirement and like Norm I like a buffet of travel going to different places and having different experiences.

[@ThisIsOurRetirement]

That is awesome! we wish you well 🍻🙂

[@Duke_of_Prunes]

The large gift purchase is about the only one I am guilty of. We live in the States, and my wife's poor immigrant family and friends think the roads here are paved out of gold. So we're always helping someone.

[@ThisIsOurRetirement]

If you are happy then it’s perfectly OK Cheers 🇺🇸🌺🇨🇦

[@Jane5720]

Learn to say no

[@Duke_of_Prunes]

@@Jane5720 It's difficult when we are enjoying a lot of success and blessings. And others are not.

[@lizaroberts2954]

I so love you Tina and Norm.. I live “down the street” from you in Toronto.. so value your wise words ❤

[@ThisIsOurRetirement]

Thanks so much

[@vickimunro4599]

The new lighting is fabulous! It would be even better if the picture on the wall had anti-reflective glass over it. My brain thinks there is a Christmas Tree. This is a great video and the topic is "spot on" as usual.

[@Desjardins50]

You forgot the motor home?

[@ThisIsOurRetirement]

Thanks for adding it 🍻

[@paul_domici]

The lighting is Magnificent!!! You guys look at least twenty years younger : )

[@genglandoh]

Good subject. In our case I just retired on May 31 2024. We did all our big purchases over the last 5 years before retirement. 2 good used cars ($35K for both) and a 27ft sailboat ($4k) I have always had small trailer sailboat for under $2K so being 67 I figured this was my last change to get a real sailboat. The cost of ownership is $3K per year (summer dock and winter storage) Since we did this before I retired and we paid cash they are not a burden for us in retirement (all of 4 days). My wife is still working and is saving to do a kitchen remodel in separate account. Most likely she will retire next year.

[@ThisIsOurRetirement]

It’s nice to realize a dream, congratulations

[@dancurran8977]

I like the new lighting. There are almost no reflections in Norm's classes. It's a miracle!

[@ThisIsOurRetirement]

Thanks Dan, that was part of the solution

[@sharonmiller6797]

Love the new lighting; so easy on the eyes!

[@ThisIsOurRetirement]

Yay! Thank you! 🌺

[@derekcox6531]

As a photographer for 30 yrs,the lighting looks dandy!

[@ThisIsOurRetirement]

Thanks Derek 🍻🙂

[@bluetocop]

bigger house i hate the big property taxes

[@ThisIsOurRetirement]

The two go together 🍻🙂

[@NorthernLibrarian]

We bought a RV trailer too in a park about 1 1/2 hours from home. We split the season with our son and his family. So far we are finding it to be good value. This is our only travel expense. Giving big cash gifts to family can be good depending on your age. We are only in our 70‘S so don't do this. However mom is in her mid 90's and for the past few years she has been giving my siblings and I a few thousand every year at Xmas. We love getting it to spend on our hobbies etc. and she says she gets such joy seeing us enjoy the money while she is still alive. There is no way she could ever run out of money at this point. If we are lucky enough to get that old we plan to start doing the same for our offspring.

[@ThisIsOurRetirement]

Your mom sounds awesome enjoy the money 💰 she gives as we are sure it gives her immense happiness as it would us if we make it to 90 Cheers 🌺🙂

[@marct4234]

We really like the new lighting. Does Norm buy a new T-shirt every episode?

[@ThisIsOurRetirement]

No not everyone he recycles !

[@LoriDesiderato]

We went down to one car and it was a great decision

[@ThisIsOurRetirement]

We did too it’s no big deal 🙂

[@beverlyness7954]

When I first retired, I was so worried I couldn't afford life on my new income level. So I went to a seminar and invested heavily into a property investment business. I've never been so dumb in my life. So much money gone. So little reality in my ability for this career. Instead I could have taken $300-$400 a month out of that same retirement fund I depleted heavily and been much better off. I could have gotten a part time job and earned $1000 a month or so and been much better off. Also I stupidly bought a time share. NEVER buy a Time Share! NEVER! They are the worlds biggest scam. I spent thousands to buy it and thousands to get out of it. I just paid off that bill last month after over 6 years. It was horrendous. Take time and really calculate what your needs are. Budget for your future, remember you have time to really think about what's next.

[@scrappylifter8318]

I’m sorry that happened to you, but thank you for sharing your experience and warning us.

[@luciepepe1322]

Thank you for sharing. Do not beat yourself up - we all make mistakes but most of us do not speak about them.

[@paultom40]

When NFL was providing new players financial advice. They said do not focus on what's coming in. Focus on the money that is going out.

[@ThisIsOurRetirement]

Very true, cash flow

[@stevewilson6390]

Mmm cars! Buyers remorse here. Nothing wrong with the one we had, it only had 9000 miles, we payed an extra £13k for its replacement. It's the last one I'll purchase though. Discipline is the answer.

[@LoriLWorden]

Love the lighting -- you two are adorable.

[@ThisIsOurRetirement]

Oh thank you! 🌺

[@HGills]

thanks for another fun chat, I prefer to the older brighter version of lighting :)

[@betsyr4724]

I want a vaca home but yes extra expense so I’ll just go for a visit. Can you rent out your trailer like an Airbnb?

[@ThisIsOurRetirement]

No

[@valerie2531-dav]

LOVE the lighting ! more intimate , like speaking to friends 😉it's so true, worrying about the money running out, not that we live a lavish lifestyle at all!

[@MalcolmJones1949]

Lighting ok. Maybe you should do some on location shoots in natural light, and spotlight locations?

[@ThisIsOurRetirement]

Thanks for the feedback 🍻🙂

[@DeannaAllison]

I think your lighting has been generally really good for a long time! I think your current set up would look even better with a second light, maybe a small filler light offset from your current softbox, and positioned a little lower, so that it slightly softens the shadows under your chins from below.

[@ThisIsOurRetirement]

Thank you 🙂🌺

[@kathyh857]

New lighting is great! Very informative video I plan to pass it on to ppl I know

[@ThisIsOurRetirement]

Awesome! Thank you! we appreciate that Cheers 👍🌺

[@karlmitchell1428]

When to Giant Tiger and got a Genesis Tee! It’s awesome

[@ThisIsOurRetirement]

Awesome 🎸👍

[@tanyajohnston8262]

That was too funny, when Norm said, oh I forgot about that 😂.

[@ThisIsOurRetirement]

We are all human 😂

[@bobmeining4028]

How about a major home renovation. Easy over $100,000. Al lot of stress and money you can use for more important things.

[@floridastitcher1]

Great suggestions. We paid off our mortgage and I have to keep talking myself out of buying one of those 22,000 euro fixer uppers overlooking the ocean in Italy 😂. And also an RV. We have several local places that rent them so we’d probably come out a lot better renting when we want to travel. Too many big toys out there to tempt us!

[@terryevp4084]

Greetings Norm & Tina great information as always. Many Thanks . You are videos are getting better and better.

[@ThisIsOurRetirement]

Glad you like them! 🍻🙂

[@wgotowym8004]

I love the lighting, I think it looks stylish and lovely

[@ThisIsOurRetirement]

Thank you

[@josephwalsh6722]

Great shirt NormI love ACDC

[@ThisIsOurRetirement]

Thanks 🎸🍻🙂

[@barbaracarr17]

Your lighting is great!

[@bdillon1011]

Lightening is very nice!

[@ThisIsOurRetirement]

Thank you 🙂

[@tonymcdonald1990]

Lighting was a bright idea. 😁

[@ThisIsOurRetirement]

Thanks Tony 🍻🙂

[@JaneDoe-lq3du]

I love the AC/DC t-shirt! Have to disagree with you on the second home. I know of a lot of people who bought at the right time in Arizona, enjoyed the houses for a good 8-9 years, then sold high and made money due to the property appreciating well. It can work for people for a season, especially if the circumstances are right. There are a lot of different ways to enjoy retirement, which is a good thing! 👍🏻

[@JaneDoe-lq3du]

P.S. Lighting looks great!

[@ThisIsOurRetirement]

Thanks for sharing! 🌺🙂

[@iany2448]

When I bought my current car a few years back, I counted it be the last car purchase. I planned on stop driving and taking self-driving taxies before this car runs its course. At the time, a university friend working in Tesla assured me that self-driving will happen in time. Now I am not so sure.

[@monalisa233]

Looking forward to retiring next year and plan to do a few trips. Still I cannot see how a person could spend 30 thousand on one trip as that would buy a lot more cheaper trips. I like wondering around looking at things. i don't need a butler on my cruise! No luxery trips for me..

[@edwardlautsch8539]

Like the AC DC t shirt. But great advice on the expenses to avoid. Thanks for your.

[@ThisIsOurRetirement]

Thank you 🌺🙂

[@barrettthompson5363]

The lighting is very nice. You both look great

[@ThisIsOurRetirement]

Thanks so much 🙂