Are you in the 17%? | Do THIS to Retire Earlier!

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Күн бұрын

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@dominic8218 7 ай бұрын

Love it Neil. Retired at 54 last year and haven’t bought a coffee since! Save a fortune and used to be close to £10 per day!! Also went from 2 to 1 car and saved big time. To even contemplate going back to work I think of cars, lunches, coffees etc - then think all that expense, I won’t bother!! 👌🏻

@travellinman382 8 ай бұрын

I understand the value of saving money, but we still need to enjoy our lives. I don’t think anyone lying on their death beds thought, “ I wish I had saved more money.” It’s all about maintaining a balance.

@kathyhirsch379 8 ай бұрын

And less talk talk talk 😢

@carlyndolphin 8 ай бұрын

Can you survive on the government pension in the UK, which is approximately £800 per month adjusted for inflation? By investing a percentage of you’re income you can have more disposable income

@searchersearcher8286 7 ай бұрын

I don't think anyone on death bed ever said I wish i had worked more.

@meibing4912 7 ай бұрын

Hate these "truths". Who also ever said "I'm so happy I got the big, expensive car" on their death bed? Its all rear mirror viewing, so a gigantic reverse survival bias in claiming this as life advice. The question that counts is: How many people live to be financially stressed in retirement - that could have avoided it? UK: 2/3 worry about retirement income, 1/3 regret financial decisions, 17% have to go back into work from retirement etc. These are the numbers to consider. Do you want to be one of them for 25 years of retirement?

@jablot5054 7 ай бұрын

@@carlyndolphinyes ,quite easily, I do.My bills are £500 a month the rest is for fun things.

@reveandrobl4906 7 ай бұрын

There is a great saying "rent the lifestyle you want". If you REALLY need to have that ferrari....rent it for a day, week or month, get the dopamine hit out of the way and then go back to enjoying your life....or even better find a way to incorporate your fantasy high cost of living purchases into your life for free....or go one step further and get paid to dive your fantasy car? This is what my husband did, as a 22 year old car buff he picked up a sales cadet roll for prestige cars and spent a lot of his day driving the cars to customers, filling up the cars purchased with gas and driving them to expos. It was a great insight into the lifestyle and one that completely changed his desire to own one. When you think outside the box financially, you can shave decades off your working life.

@robertmiur2388 8 ай бұрын

I’m 63 years old from Scotland living in Colombia for many years,,when I lived in the uk and the USA I used to spend money on so much garbage looking back, now I’m older I’ve learnt the value of money, and write down my spending expenses in a book every day and tally it up at the end of the month.could cut back somewhat ,, but I want to live a bit, and travel and enjoy nice hotels, having the freezer and the fridge full is my greatest importance and my 2 adopted doggies eat well.enjoying the humble life is the best. Thank you for your videos really enjoy them and learning from them.

@CumbiaDancer5678 8 ай бұрын

Whoa! What a lot of ideas posited in this video. I could not agree more with EVERYTHING you said. Fortunately, I grew up poor on the east coast of Canada. That was a perfect situation to learn about being frugal. At 17, I moved to the city & at 19, I moved across the country looking for better job opportunities. I rented rooms in people's houses, didn't take luxury vacations, didn't wear designer clothes and worked on becoming a hairstylist. Eventually, I bought myself a sport's car & poured every extra cent into paying it off. I sold it after 2 years after realizing that owning a Toyota Celica was probably not the best idea in an area of northern Alberta that reached -40c in the winters & got loads of snow. I was stuck in a snow bank many times. So, I sold that car & banked the $10k that I had left after I'd paid the balance due on the car loan. Long story short, I got married, rolled that $10k into a joint bank account & 3.5 years later, there was nothing left but legal bills while I was going through a 6 year divorce. The financial lesson was profound & I took what I learned from that, got a university degree, got a job working for the GofC, and, at 39, I set about righting my financial situation. I drove good used cars that didn't cost me more than $3500 cad. They usually lasted 3 years before they starting costing me $$$. I did my own nails & hair, refused to buy my daughter $300 jeans & running shoes & shoped with frugality at the grocery stores. At 56, on Oct 30, 2014, I quit my job & started travelling the world. I'm turning 66 next week & I have not had a nanosecond of regret nor do I have any plans to "retire" from life anytime soon. I was smart enough to get a Mexican residency visa in 2020 so, I always have a place to come back to. If all else fails, I could go back to Canada but, that would not be my first choice of places to retire. The best part of all of this is having choices. I couldn't imagine living my life any other way. We are blessed to have the means & the will to follow our dreams. Namaste to you both...

@omrouk 8 ай бұрын

Tech. Even now, I have to force myself not to buy every gadget that I fancy the look of. I remember buying so many “life changing gadgets” in my 20s and 30s and opening the box and, once that initial thrill was over, having immediate buyer’s remorse!

@omahgroup4080 7 ай бұрын

Hi, great video. I understand and agree with everything you said. For years I only owned a few nice clothes, two pairs of shoes and stopped colouring my hair, just so I could continue sending my 4 children to a private school after my divorce (finally this is the last year of school bills, yay!). The school fees and mortgage took up 75% of my income, I never did direct debit (this gives me the ability to shift money around and keep track), only 2 subscriptions and luckily I grew my own veg/fruit and raised my own meat, and still do. Picture this, years ago my eldest got a part scholarship to a very exclusive school, at that time I drove a 20 yr old large red station wagon, and once a week id pick him up with the car full of children, groceries, hay and livestock feed and occasionally the car would break down. We looked like the Beverly Hillbillies😳, my car stuck out like a sore thumb amongst all the sports cars and 4x4's 🤣 I became friends with a group of parents and soon found out that yes they had some money and looked the part, but some had more debt and lived beyond their means, they looked exhausted just trying to keep up! Generally I found that people who really do have the money, didn't really care if I did or not. They respected me and where amazed at how I managed, the kids and I were always included in social function (and still are). The great news is that by the end of the year, at 55 and all on my own, I will pay off my home mortgage! I'm now reaping the rewards of making the most of situations and my money. I learnt to not give a damn about people's opinions and not fall into the trap of wanting meaningless stuff. ❤Zeljka

@denise-stevens 8 ай бұрын

I’m with you, Neil! I love my 8-yr-old Kia Soul! I could prioritize a fancy car, but I don’t see the point. I just drive to the office and run errands mostly. And once in a while I drive to Palm Springs or Las Vegas ;) My worst habit that I broke a couple years ago was 1) buying loads of stuff I didn’t need on Amazon and 2) not returning anything I didn’t want.

@Jasepriestley 8 ай бұрын

"A willful disregard for luggage space" made me laugh out loud...😅 great vid thank you

@rustykatt3870 8 ай бұрын

I have stopped bying expensive coffee out and saved the $5 for groceries. I brew coffee at home (instant coffee) and take it in a flask or narrow cup for the car's cupholders. I spend way less money this way, and put it to the utilities which have doubled or tripled in the last couple of years. Good luck to us all!! 😊

@carlyndolphin 8 ай бұрын

I bought a Lamborghini and sold it after 6 weeks. I invested the equity into Vanguard VWRP.

@livingworkingoutsidebox 8 ай бұрын

14:14 Perfect way to think about mistakes 🤔 👍💡 I have an audible and a documentary streaming service thinking we would watch it with our daughter. I've listened to 6 books in 3 years. 40 are in my playlist. 📚😮😉💸

@daphnestoreng1824 5 ай бұрын

Always enjoy your content. Don’t give up!

@chrislangley4029 8 ай бұрын

I vintage car race and have for 35 years. My race cars are addiction as I call it) expensive, but I buy 3-4 year old cars for daily use and usually keep them 6-10 years. Oh, I go to the Goodwood Revival every other year. Can’t miss that. But you won’t find me buying a new car. Let someone else take the depreciation hit. Spend responsibly in places and spend extra in others

@dr.michaellittle5611 7 ай бұрын

The one Ferrari that you should buy is their company stock. In the last 5 years, it’s grown 320%. 👍😎

@2ndSprings 7 ай бұрын

I love your brilliant take on crowd-sourcing to impress others! Also, your clever and witty way of presenting reminds me a lot of a presenter named James Burke who used to be on a BBC show called "Connections". You're probably too you to remember him. Back when I was a science teacher 100 years ago, I would show one of those episodes on the occasional Friday to my classes. I'm glad I was able to "retire" from teaching after two years and move on to something else... Keep on keepin' on!

@ryanbooth8421 7 ай бұрын

Always great advice Neil. Safe travels. 🤙

@MadeNCda 7 ай бұрын

I can relate. Before every proposed added expense, I automatically muliply the monthly cost by 12 for yearky total, then I decide if that purchase is worth it. More often than not, I forgo it. No memberships other than cell phone, internet and Britbox 😂 I decided against getting a car (new or used) as car insurance has gone sky high. So, no car only public transit. Even vacations: only affordable ones. Wanted to go to Mex but flts were close to 1k. Axed that idea and found cheaper flt to Jamaica $336 so booked that. I currently save 30% of my paycheck and will increase it to 40% shortly 😊

@travellingwithcrowsfeet 7 ай бұрын

WOW, we wanna be like you dad... Somebody should write a song like that. 😂 Great vlog Neil. You do make us laugh while teaching us all. Great work.

@veronicaburgess7250 7 ай бұрын

I got divorced in my 20s & learned my lessons then I now have over 150k invested & 3 houses, with no debt & a good emergency fund, Marketing & keeping up with the Jones are deadly pass times & stupid! Plan to slow travel in a few years around the world. Life is to short to waste time ! xx vee

@tootietatum8737 7 ай бұрын

Great video, as always. I think it's important to keep in mind on some of these large capex purchases that as you age, by definition you are going to get less value out of them just based on the time that you have left with which to experience them. Case in point - I've been batting around buying another vacation home and that would perhaps have made more sense 10 years ago when I could really get a lot of value out of the time spent there. At this point, it makes more sense to just rent a place for 2-3 months at a time (....what a novel idea - slow travel! haha) and have the freedom to walk away and also an option for some variety in location. Same goes for a new Cirrus SR22 I've been eyeing. Hands down makes more sense to rent at this point in my life.

@FionaMacDonald 8 ай бұрын

Yeah I lost a bunch of weight and so had to buy new clothes - something I didn’t do much when I was a fat git 😜 I can well afford the stuff, but I realized how quickly I had a whole new wardrobe, but was still buying stuff! I now delete all the stupid sale emails I get every day because I don’t NEED to buy anything - even if it’s a great on sale bargain 🤷‍♀️

@TheMrmoc7 8 ай бұрын

I've convinced myself that as a Doctor I need to have two cars so that if one breaks down I can effortlessly get to work in the other car because, you know, other peoples' lives depend on me getting to work on time. Maybe when I'm older, wiser, and retired I'll understand the flaw in this argument, but for now I'm keeping my two cars.

@butterbiggins2168 7 ай бұрын

What a lot of rubbish! I’m a doctor too, only ever had one car , and have only once needed to call a taxi when my car had a flat battery. Cars these days are pretty reliable .

@roseyfischer 5 ай бұрын

I'm rebalancing my portfolio to focus more on dividend-paying stocks and bonds. With the current state of the US economy, I'm avoiding high-risk investments and trying to secure steady income streams instead

@OurRetireEarlyJourney 7 ай бұрын

Budget, budget, budget... is 101 as your foundation to financial health. It's not sexy, well... until you get good at it. 😀 Track everything you buy automatically using free software tools and is super easy. Vehicles are a depreciating asset which are not worth their initial costs for 99% purchased. Vehicles are a non-discretionary (need) expense for most of us, but the level of what you are spending on it is completely up to you as the purchaser.

@chrisharris4223 7 ай бұрын

I am car mad and apart from holidays is really the one thing I spend money on, nevertheless I do still have buyers remorse about it as I am such a massive saver/investor elsewhere. The way I ‘live’ with it is to save at least the value of the car each year into retirement accounts. All good 😀

@RustyVanDoor 7 ай бұрын

Current car is 21 years old, we’ve had it for 10. VW’s go on and on. It just needs to get from A2B.

@Backtoreality1873 7 ай бұрын

Living in N America this is rampant. I recognize and relate to what you’re saying. However there is another side to this. I have owned some beautiful cars and motorcycles and loved them and count them as good memories. If I could talk to my younger self I don’t think I’d try to stop those purchases and experiences after all life is to be lived, mere existence is not enough. Not for me anyways. I would say find a way to make more money and save more earlier though. 😅

@S1000xrhp 7 ай бұрын

@4:45 no please don't get it out there thanks 🤣 I love cars, I love motorbikes and I know a little enough to tinker with. I also know where my limit is and when to hand them over to the "professionals". But I love motion more, while I may have a preference for a 3 year old car rather than a tired 10 year old, the critical thing is the ability to traverse and to watch the unfolding landscape and it's contents be it sheep, cow & horses, buildings, statues or market places or how the light lands or rain falls softly on the hills and valleys. I can enjoy the ever changing vista as much be it in a Micra or on a motorbike. The motive power is irrelevant diesel, petrol or electric, as long as it is relatively comfortable, its the appreciation of the delights and wonders that this world offers us which makes travel so enjoyable. And for this I willingly pay the price to maintain and utilise the vehicles in my possession. And that is hardly wasting money 😊

@jimmyhvy2277 8 ай бұрын

I Have been wasting money on my 1991 Nissan 300ZX Fairlady for 24 years . But i have been able to Afford it . it looks good and is fun to drive !

@meibing4912 7 ай бұрын

Agree 100%. Cars are an absolute sink hole. If you need one be very, very rationale about your purchase. In the 1% today. Avoiding cars when possible achieve this. I do have a $10K bike. Fortunately my bikes last ~15 years. Also, drawing close to 70 I enjoy the fact I have the same "cycling fitness" as an average 25 years old cyclist (according to Garmin).

@bluemanchester4344 8 ай бұрын

I know the channels going in a different direction and these type of videos are much less labour intensive but I’m interested in how you got to Spain and where you stayed along the way. I found value in the older videos. You can’t please all the people all of the time though.

@MagentaOtterTravels 8 ай бұрын

You lost me when you started talking about the number of valves your car had! Lol😂

@waterydepths5584 8 ай бұрын

Wish I still had the money I wasted on foolish purchases.

@summitsusie 7 ай бұрын

I chalk that up to life tuition. As long as I learn from the mistake and don't repeat.

@bonnetbolt 8 ай бұрын

dont feel bad buddy 2 years ago scotiabank in canada lost me 140k on investments, not their fault as market went down . not their fault but they never een told me , that is what pissed me off , then i bought a camper for 15k that has sat in the yard for 4 years and is totally ruined as there was a leak at the front of the roof,,so i think i win at losing moey..

@John-qn5tz 7 ай бұрын

Toyota Corolla best car ever. I had mine for 300,000 miles, so about 480,000 kilometers. Bought it new, had it for 10 years, traded it for a Toyota Camry which I still drive.

@BoninBrighton 7 ай бұрын

Well it depends what counts as wasted money. I bought a professional grade Saxophone- I’m never going to play professionally but I know I’ll never need to upgrade it. I started learning aged 62…. this horn will still be good in 20 years. By then I might be worthy of it…. so the cost over 20 years looks better I suppose. Well it would do if I’d not also gone and bought a Baritone Sax…. 😅

@claireruf7556 8 ай бұрын

“Bring out your dead”😂

@MagentaOtterTravels 8 ай бұрын

Any KZbin creator gets bonus points from me for using Monty Python quotes! Lol

@jenniferhute2017 7 ай бұрын

Love videos when you are out and about. This is the first one I'm seeing while you are in the car. Is this how you take a break from being 24/7 with your wife? The camera and your followers can listen when she can't anymore. We are with you in the car. :) Best moment of the video: What is a valve? I Don't Know! LOL

@Lilrom2003 8 ай бұрын

What’s hanging from the bottom of your car ?

@summitsusie 7 ай бұрын

I was wondering that as well 😃

@stellajones8701 7 ай бұрын

Hi, I see you've done some financial videos but are you doing more traveling videos? Are you doing one on Spain?

@JinCola1001 6 ай бұрын

British has Great Retired system Government paid every citizens on age 60 We dont have to pay from our salary every month👍

@Lilrom2003 8 ай бұрын

It’s more than 120k as you have to gross it up with your marginal tax rate….

@GrrliinaK 8 ай бұрын

I was thinking,..."What is a valve." LOL

@MagentaOtterTravels 8 ай бұрын

SAME! I REALLY don't care about cars 😂

@spikett 7 ай бұрын

I couldn't help noticing that you seem to have driven off and left one of your cameras at the recycling centre.

@MmagicEdits 8 ай бұрын

Hey 2GoRoam, Just checked your youtube, really great stuff. was wondering are you looking for a short or long form video editor ? Please, let me know ❤

@richardbardsley2095 7 ай бұрын

There is a lot of excessive upsellihg in cars...which seems logical to avoid if you want to save money... but why would you skimp on your own safety in transportation ? if you have the choice of telling your loved ones to ride in the safest car you could reasonably afford or to take their chances in an old tin can because you want to be overly economic... which are you going to choose..? Unfortunately the statistics are clear,.. the occupants in older and smaller cars will suffer greater injury than in newer and larger cars. Why waste their health and safety if you have the momey to spend.

@paulr1 8 ай бұрын

You can't even doing groceries with a Ferrari, and you have to skip all the speed bumps

@clnelson321 8 ай бұрын

Not to be a killjoy, but what is hanging down from your under carriage in the red hatchback? Stay safe and have a look at that. Cheers.

@nunuvyurbiz123 8 ай бұрын

I saw that too and was wondering the same thing. I figure this is a rental and not to worry.

@sobobwas6871 8 ай бұрын

Where are your kids? I have worked and had the full Monty but at the same time I am not excited by anything else. I have a solid pension but I work, I do that for a whole host of reasons beyond money. The idea of of me me me me me sitting on a beach is plainly ridiculous. It is about family, about love and people 🤷‍♂️

@summitsusie 7 ай бұрын

I think they were DINKS

@anthonyferris8912 7 ай бұрын

As a retiree, you might also want to ask yourself a more obvious and practical question…with an ageing back, how easy is it to get in and out of a Ferrari?!

@summitsusie 7 ай бұрын

😆

@russellwild8329 8 ай бұрын

Not sure about the amazing holidays reference, I agree that the rest is just junk

@kathyhirsch379 8 ай бұрын

You can just say its all about cars which i dont care about i lost 18 min

@merrillmixer1190 7 ай бұрын

I've enjoyed your videos in the past about retirement travel, but sorry to say Neil you ramble and take way too long to tell the story! You're losing me.

@bluemanchester4344 7 ай бұрын

I think the channel is taking a different direction based on KZbin algorithms? I liked the travel stuff and looked forward to the motorhome travels. I understand their choices but I took a year off at 30 and forgot to go back. I'm 54 this year so the pension stuff and saving has no real interest for me. Saving money on flights, travel and accommodation today is what I'm interested in.