Bleeding Cash in Retirement

Having to learn it's OK to spend without having a job in retirement ain't easy. I knew that would be our biggest problem in retirement and it has been. However we have made great strides in that area. Almost 2 years into retirement and it's gotten to where spending doesn't bring us the anxiety it has in the past. It still ain't easy but we've learned we can still pay the bills and spend what we need or want to.

[@davidfolts5893]

All saving is deferred spending, spend it or someone else eventually will, thanks, Steve!😀

[@retirementcorner]

We've slowly come around to that idea. Something like this would have caused us a lot of anxiety before. All the work and effort we put into it has payed off this year. It will never be easy but the anxiety has for the most part left. Learning to crawl before we walk so to speak. Take care. Steve

[@user-ov6bv9cn1o]

That’s the truth. I buy what I want and go where I want. And I live below the poverty level on SS. But I’m doing better now than when I was working. You have to change your lifestyle in retirement.

[@OpenDGuitar]

Yeah, geez…we can go months being frugal, and then get on a streak where everybody has a hand out for my money.

[@retirementcorner]

Exactly what my wife says. There is always somebody looking to get HER money. We have a few months of light spending then it seems like everything hits the fan all at once. I was just happy how far we've come since I retired. Something like that would have normally caused us a lot of anxiety. Not so much now, but it took us 1 1/2 years to get here. Thanks. Steve

[@leedezern6862]

Yep. We got hit by a tornado. Needed roof repairs, inside repairs due to water damage, paint, downed trees etc… insurance didn’t pay what we hoped. Then we needed a new refrigerator.

[@gamecock-mk5zb]

I've had to adjust to spending too. Settling in was a little stressful but once I hit my stride, it's been a breeze and life is beautiful. Every day is Saturday and that can't get any better.

[@retirementcorner]

We found our retirement rhythm last year fairly early on also. The spending took a little more work but we have finally gotten used to it. All the work and effort from last year payed off this year. Just can't beat retirement. Thanks. Steve

[@karenw2570]

Yeah, I hear you on this one…we’ve had three bad months. Garage door opener died, root canal, refrigerator died, pump went out in the dishwasher, broken foot, new roof, stucco leak which ruined an upstairs bathroom - all needed repaired, and then the HVAC quit. If you own a house, you MUST have a plan to repair/replace things on the regular. We reserve 1 to 2 percent of our home’s value each year in our budget for home maintenance in retirement. Sometimes life can just get squirrelly all at one and you gotta be prepared.

[@joycef8443]

Yeah, early last year: in-house vac quit, well pump went out, refrigerator died, lawn tractor died, push mower needed replacing. We got thru it but I whined a lot!

[@retirementcorner]

Man that's a terrible run you've had. Hopefully it's over for awhile. It's always something and it seems like when it rains it pours. It sure helps to be prepared and that 1 -2% is a great idea. Thanks. Steve

[@diepeterpan]

OMG, I am also 18 months into retirement but never thought I would be as stingy as I am now. I permanently evaluate 'value for money', I rather cook then go out for dinner or get fast food; I can get a massive steak for much less than the steakhouse and I bet you the environment and food is even better at home. You do you, 100%, it's a learning curve. I must still get to the point of knowing it's OK too spend a bit.

[@retirementcorner]

We're constantly evaluating also. Not only for the money either. Sometimes it's do I really need it or is it just something I want. It's a constant battle for us. After decades of being that way it takes awhile to learn we can spend and still make out just fine. Thanks. Steve

[@TheRetirementTrainStraightTalk]

I like that, "We spent $1,100 before breakfast." Good stuff! 🙂

[@retirementcorner]

Couldn't have if it weren't for the "pregame planning". I was just happy to see how far we've come since I retired. Normally a morning like that would have been anxiety producing for us. Might have affected our whole day. A little learning and practice that first year has payed off big this year. Take care. Steve

[@lulucly]

I splurged and bought a used Margaritaville machine for $50. The girls are coming over for a catchup over a margarita or two on Friday!

[@retirementcorner]

That's an investment in happiness in retirement. Good for you. Sort of like my Banana split Friday's. Take care and enjoy. Steve

[@WV_Weasel]

Yeah, it’s hard to start spending, when you’ve saved, saved, saved, to get to this point in life. Good video Steve. Take care. Robert

[@retirementcorner]

It was for us but we've come a long way since I first retired. Probably as comfortable as we'll get with things now. Retirement is great when you figure out how it works. Take care. Steve

[@angiew4544]

As long as I stay home I don't spend money except for groceries, which are almost like another mortgage these days! 😵‍💫

[@retirementcorner]

Ain't that the truth. As a general rule we spend little but once in awhile it flows like water. Something always seems to come up. Thanks. Steve

[@toddplace8309]

You are one of the most honest ones I subscribe too. You and Duane are very humble and honest about retirement ***

[@ZCAR355]

How about Josh and Joe Kuhn?

[@retirementcorner]

I watch and enjoy both of them tremendously. Learned so much from them before I retired. Gave me some confidence heading into retirement. Thanks. Steve

[@retirementcorner]

I just try to be as straight forward as possible. Kind of helps others see how retirement really is or can be for themselves. I hope so anyway. Thanks and take care. Steve

[@stevebrinkert3649]

Had to dip into the emergency fund this month. The A/C took a 💩 . Gald, we had the extra saved!

[@kahvac]

It's great to have that option ! Money buys you options.

[@retirementcorner]

Exact reason you have one. Good for you. Been a hot month all over the country. Be rough to go without A/C for long. Hope you didn't. Take care and stay cool. Steve

[@mydanshi9683]

I’ve been spending like it’s going out of style this month. I don’t know what’s wrong with me 😆 it comes and goes, I’ll probably be quite frugal for the next few months, just using all my hobby stuff I just bought. It’s a privilege to have the time to have hobbies once we’re retired.

[@TheFatesLieutenant]

Tools that I've needed (truly needed) to do projects properly are my weakness - tired of struggling with screwdrivers, hammers, and vice-grips and plumb worn out wrenches and ratchets! Amazing how much easier it is with the right tool - valve seats were the latest challenge, until I got a valve wrench set ($15 for the set) and zoink! done in about 5 minutes (w/o destroying the faucet, valve, or old seat!).

[@retirementcorner]

So right. It tends to come and go. Spending like we did this morning would have caused us a lot of anxiety last year. All the work and effort we put in has payed off this year. We understand better how things work out in retirement after being retired for awhile. Thanks. Steve

[@maxwellhouse750]

Keep me off Amazon and out of Costco in retirement and I’ll probably be fine. I hear you on random money drops and Costco for me is the king of those.

[@cynthiadeg9206]

I let my membership lapse and haven’t been to Costco in 11 months. I survived 😃

[@retirementcorner]

We've all got our weak points. Tractor Supply and Agri-Supply are big ones for me. I live in town and have no use for most of the stuff they sell. Go figure. Thanks. Steve

[@maxwellhouse750]

I used to think monthly budget plans from the utility company were a waste because I liked those low months, but there is a lot of peace of mind in a set monthly payment that only gets tweaked a few dollars once or twice a year. I love the utility budget plans now. Pretty much zero guesswork.

[@retirementcorner]

Thought about that a few years ago just never switched. Would be nice to have a steady payment. We just figure high and whatever is left is there for the higher months. Works for us. Thanks. Steve

[@MyBackyardScience]

We're not retired yet, but this year leading up to retirement has really been bleeding money. Let's hope we don't have to do "one more year" ! 😮 😀

[@retirementcorner]

I hope you don't have to also. Not a big deal if you do just don't turn it into one more decade. Hopefully the bleeding will stop or at least slow down for you. Take care. Steve

[@Floorguy1985]

Elections have consequences don't they.

[@DanTheManIOM]

My retired neighbor told me, buy all the big stuff while working - a newer car, a roof, a furnace, windows. Thousands there, get that out of the way....and, and he said, go home tonight and start getting rid of STUFF ! Suits you no longer wear, furniture you don't need etc etc. He was most insistent on starting that.

[@MyBackyardScience]

@DanTheManIOM that's definitely great advice. Been working on some big items this year.

[@eworks9828]

Go into retirement debt free and the transition from save to spend gets better faster I believe, as you can adjust if your fear is high cut back. Great channel and keep up the great content.

[@retirementcorner]

Exactly! Debt free is the way to be. It gives you so many options in retirement. Thanks. Steve

[@DanTheManIOM]

HA, Burton (from Lowe's paint department) and I were just talking about this. Is Google spying on my conversations ? IDK. Anyway, we both like Cadillacs - he was mixing paint to match the dark blue that Cadillac used on it's engines and valve covers back in the 50's. He told me he is retired and said when the time comes to buy a new or newer car, he's got a little apprehension since he said that regular paycheck has stopped. One of those FIRE guys (Dion) said his target was 4x what he needed for monthly income so that he can weather any storm. Water heater pricing is nuts as new units start at 500+. The 700 if installed is not bad at all. My area, they want 1K. Good thing I am handy.

[@retirementcorner]

Good thing we shouldn't need another vehicle for a few years. When the time comes we'll get a note just like always. If I waited till I could weather any storm I'd never retire. Just ride the waves like always. Come out a little seasick at times but it keeps life interesting. That was 2 years ago it might be a grand or more now. That was an installed price. Not a bad price but letting go of that much money at one time gives us the willies. Thanks. Steve

[@tomj528]

I like to find alternatives that are less expensive and better. For instance we've been enjoying both strawberry and also peach shakes lately. We get Breyers natural vanilla ice cream for $2.49-$2.99, strawberries and peaches when they're on sale for up to $1.99/lb, the whole milk is $1.39/half gallon, fresh pitted cherries $1.99/lb and a 13oz canister of whipped cream is $4. We already have the vintage soda glasses to serve it in and no place comes close to how great they are. Same with all of the other ice cream desserts as well. I developed an awesome hot fudge sauce recipe but I'm still looking for glassware for the banana splits because traditional ones are far too large for us now. I thought I had found oval dishes at a thrift shop but they were priced far too high and sold only as a large set so the search continues. I also like to smooth out our spending by using the free revolving credit of our cash back credit cards which we pay in full every month. For instance, we went on vacation a few weeks ago which added an additional $700 or so to our spending between gasoline, a new marine starting battery for the boat, higher priced groceries in the more remote area, and a surprise repair of a blower motor resister on my truck that was a pain to get to but for just $70 well worth the effort especially since it was HOT and super humid. Now I've received both my truck insurance and homeowner's insurance bills and even though I've got them both covered, why sweat it. I'll pay the truck insurance now and in about 6 days our credit card cycle will restart and I'll pay the much larger homeowner's insurance bill, both well ahead of their due dates. This equals out the additional spending between this month and next, taking the bite out of both months.

[@retirementcorner]

We do similar for most things. Sometimes they are cheaper but not always better. Junk stores, off brand, sales etc. just for a little savings here and there. "Pennies make dollars". That's good the way to handle that credit card thing. We don't have one at all. Could be a good way to do things. My little lady across town does the same and has for years. Works great for her. Take care. Steve

[@bustacapp722]

I retired Dec 2023. Since then the AC on my car went out 1700. The start of summer the home AC went out $2700. Lost my 19yrs old grandson to violence in Feb and last week another 1700 to help my son with transmission repairs. Other than that retirement has been a blast.

[@retirementcorner]

Sorry to hear about your grandson. I lost a 16 year old nephew about 20 years ago in a hunting accident. Rough thing to go through. Hope you and your family are making out OK and pray you will receive some comfort. As for the spending. It seems like when it rains it pours. You've went through a lot in just your first year. A lot couldn't have. A testament to your planning and character. Take care. Steve

[@rgarri6396]

Been retired for 10 years and have never spent one dollar of savings for retirement. I live off pension, social security, live like a king and 40 years of savings for nothing.

[@retirementcorner]

Same here when we get to SS. Till then we are spending our retirement funds. All those years of saving allowed me to leave a little early. Exactly what they were for. Spending when I no longer could or wanted to work. Take care. Steve

[@FIRE_DrNinjaTurtle]

I am in a 12 step program related to finances because I want to stay financially free.

[@retirementcorner]

Very interesting. I don't remember that from any of your videos. Maybe you could do a video about each step. Could be something that might help a lot of people. Even me. I guess you could say we're financially free also. We've got 2 streams we are using right now but we have 2 more we can tap if needed. At 60 I'll have another stream and then there is SS. I'm basing our retirement on the 2 we're using but we can ramp up if needed. Thanks. Steve

[@pattywheat6568]

Nice video. I’m very frugal with my spending but really don’t do without anything. Your message of planning and budgeting is warranted for all.

[@retirementcorner]

We don't do without either. I was just happy to realize how far we've come on the spending part of retirement. Before I retired doing what we just did would have caused us a lot of anxiety. Would have bothered us for weeks probably. A little at a time and we've learned we can and have lost most of that anxiety. Retirement keeps getting better and better for us. Thanks. Steve

[@pattywheat6568]

@@retirementcorner Definitely a mind shift to have money going out when no money is coming in via a job. I loved the “I buy myself a banana split every week” that shows it doesn’t take a lot of money to celebrate your retirement, Yay!!!

[@Leann-uj9rg]

Isn’t that the truth. I remember enjoying getting my vacation check because it replaced the money I spent on taxes in July. This is the first July that is not happening and it’s hard not seeing the bank balance go up again in the blink of an eye. Takes some getting used to, but I will never regret having retired early.

[@retirementcorner]

It was a hard thing for us to get used to. Doing those little things like I mentioned helped us figure it out. We've both come a long way since then. Take care. Steve

[@stevemlejnek7073]

You did good with your water heater "only" costing $700. Mine went out last month and it cost me $2400.

[@retirementcorner]

Wow! Talk about anxiety inducing. We'd be a mental mess for weeks. We've come a long way with the financial anxiety these past 2 years. Just something we had to learn. Take care. Steve

[@KayFabe87]

$700 for a new water heater is a bargain. Well done.

[@jamesstead1496]

I have been retired for 2 months now and can't figure out how I had time for work. I have followed you throughout your retirement and feel like you everyday, should I spend or save. I say " you can't take it with you " so do the best you can for the time being.😊

[@retirementcorner]

We've slowly come around to that also. The whole reason we put that money back was for right now. Spend it when we no longer could or wanted to work. Otherwise all that OT, second jobs etc. would have been for nothing. It still ain't easy but we're coming around and we get what we need or want for the most part. Thanks. Steve

[@Serpico1152]

@jamesstead1496 Very well said, I've been retired for 9 years now and right from the beginning I always told people the same thing "I've been so busy since I retired that I don't know how I ever had the time to work a full time job" along with "you can't take it with you" I'm nearing 72 and I worked hard for decades to obtain my retirement cushion and it took me a little while to get comfortable spending it down on what I need or want, and I don't really care to leave it all to my grown 30-40ish "children" who still really don't know the value of saving and being prepared for the unexpected to have access to it because they would certainly blow it all on "wants".

[@7SideWays]

I hear you. Last couple months have had an extra $3k or so in extra 'one-off' expenses. Gotta replenish savings bucket 1.

[@retirementcorner]

It was a hard thing for us to learn. We've come a long way since I retired. Thanks. Steve

[@chapagawa]

“Moreover, when God gives someone wealth and possessions, and the ability to enjoy them, to accept their lot and be happy in their toil-this is a gift of God.”

[@C7557]

I'm into month three of retirement and it is stressful. Some people just see the luxury of not going to work, they don't see that retirement is a whole new form of work but instead of earning you are trying to not spend. My husband is retiring next month and it feels like a cliff. I know it will be ok, I've been "broke" before and as you said, I got used to spending. I just wish I'd not stress about it so much.

[@retirementcorner]

We'll never be fine with it. Just have to learn to live with it. It ain't easy and it took us all last year but we've come a long way. We took baby steps and spent on some small things that weren't needed like that Sunday on Fridays. Prove to ourselves we could and still make out. Hated to let go of that money that morning but we knew it wouldn't ruin us. The anxiety it would have caused just last year wasn't there. Take care and best of luck. Steve

[@joy945]

Great video, Steve - excellent advice and a very good way to look at spending. Our budget was more or less constant for the first few years of retirement, and then as things got more and more expensive we did a reset on the budget and future projections, realized we are still fine, and can continue without undue worry. You need to have some "built in raises", as you call them -

[@retirementcorner]

Exactly how I've got it figured. Using the buffer for a warning light. When we start eating into it on a regular basis then we reevaluate the budget. The 2 built in raises either covers the extra spending or becomes our buffer. Has worked great so far. Current budget should be good till the next raise. Thanks. Steve

[@user-yu1cj8cy5f]

Oh I am sorry to hear what you all are going thru, our spending is up in the summer months also, taking care of house maint, etc. too I think its ok in the long run though because we have to spend some of that money we squirrel away eventually anyways and we damn sure ain,,t taking it with us bubba.....

[@retirementcorner]

It wasn't really a big deal. I was just happy to see how far we've come since I retired. Spending like we did that day would have caused us a lot of anxiety just last year. Last year we had to learn to crawl before we could walk. The whole reason we put it away in the first place was exactly for right now. When we no longer could or wanted to work. Thanks. Steve

[@ronaldroney5392]

Great approach Steve We call our approach ‘carefully comfortable’ Sounds similar to your take on it

[@retirementcorner]

"Carefully Comfortable" Great way to put it. Sounds exactly like I'm thinking. Thanks. Steve

[@timarnold9476]

Again when I start getting a little nervous about being retired and seems like I'm spending money like a drunken sailor you put it all back into perspective. I'm definitely learning a lot this first year. As one comment stated once he "hit his stride" things got easier. Can't wait to hit mine! God bless you all!

[@retirementcorner]

Just takes awhile to figure things out. For some a little longer than others. Once you do and things start coming together retirement is a blast. Take care. Steve

[@derek2479]

"...a lot of stuff you have to relearn...". Yep. We're two or so years away (hopefully) and I'm already trying to figure how it will play out. Thanks for your insight.

[@retirementcorner]

Exactly what I did before I retired. Tried to figure out how retirement actually would be. If you have your expenses and debt under control retirement is pretty easy. A lot you just have to figure out in retirement. Just no way to have an idea beforehand. Best of luck and thanks. Steve

[@William-k8l]

Inflation is never going to stop increasing or even keep goods and services at the current prices and proof is below with historical averages of the cost of living increases that beneficiaries receive in the past 48 years. The cost of living increase for Social Security Benefits between 1975 to 2023 is 3.8%. Of course, that'sj just the average. There were some yearsi with 0% increases (most recently, 2015) and some with double-digit increases (1980 andi 1981). There has been no increase of 6% or more since 1983 -- except for 2022, which featured an 8.7% hike. That means that inflation rate increase total of 182.4% over the past 48 years! Which in 1975 the average benfit was $157 and if that individual lived in 2023 their benefit would be $942 a month. In saying that not being proactive and not planning personal finances for future inflation of goods and by budgeting, eliminating debts, and saving for the future unexpected expenses will lead to financial hardships.

[@retirementcorner]

Very interesting. Might be a problem if I lived till 105. Not likely. It does pay to take all that into consideration when planning for retirement. Also helps to have a professional look over things before making the jump into retirement. I had 3.Exactly what I plan for our savings in retirement. Cost of living increases. Thanks for the great info. Take care. Steve

[@OurRetireEarlyJourney]

Love the hat Steve! We already know this will be our biggest challenge in retirement. We are ultra savers now and we have become addicted to a high savings rate. Opening up the wallet and spending is going to be hard when we don't see any incoming coming in.

[@retirementcorner]

Just something that gave us trouble and we had to learn. We worked on it last year taking little steps like I mentioned. Helped a lot and has made a big difference this year. Last year that little episode would have given us a lot of anxiety but thanks to the work and effort last year it wasn't a big deal. We've come a long way.Take care. Steve

[@clagueb3686]

I don't have a spending problem, I save too much. In my 21st year of retirement. Income at a lifetime peak. Get these ads for 15 acres and a cabin in TN for $99,900 might look into that. 180 day round the world cruise $58,000 everything cheaper sold out. Would need to get a GF to go with cause wife won't get on a ship.

[@retirementcorner]

Good for you. Unfortunately we all ain't got it that good. Would have been nice to know you a few decades ago. I might have learned something. Thanks. Steve

[@LinhHa-sd4zf]

I don’t know man, forced to retire because hubby took a soft (landing health) event. On the verge of getting off anyway. But it’s hard, man. From getting a paycheck to none. Spending, buying without a second thought, now I must think twice or even three times before getting it. Then, besides the money, there’s no routine, no direction…come on man, it’s hard. Well, it’s been three and a half months, most of that time were about doing paperwork, HR, Medicare transitioning from employer insurance to B/N and D dues to Special Enrollment Period. However, I think, I am about to enjoy my freedom, but I must learn to let myself doing just that. Been working too long, you become accustomed to it. Then the sudden stop, it’s hard. While helping hubby w his diet, I also eaten the same, I feel a little lighter and a bit healthier. So, maybe I might as well like my retirement and just go w the flow. I tell you what, at least we are done w the house note. Only now we need to be careful about spending because of the rain might comes, and when it does it pours. Good to you, to me, and to all of us. Stay frugal, stay healthy and GOD BLESS. Thank you for popping up on my IPAD.

[@retirementcorner]

Forced into retirement is a whole different ballgame. Makes it so much harder I would think. At least you have the mortgage paid off. That's a big deal. Everything in retirement just takes getting used to and we had to learn it all. That sudden stop can be brutal maybe a part time job would help ease into it while you figure things out. Take care and best of luck. Steve

[@jeffincabo]

Hello! Just stumbled on your channel and subscribed! Really enjoyed your conversation!

[@retirementcorner]

Just me talking to myself about retirement. All the what, why and how while I figure out retirement. Thanks. Steve

[@edh7658]

Thanks, over the spending thing now, it all works out in the end. At first it was scary.

[@retirementcorner]

Glad to hear that. It was the one thing that gave us any trouble. Doing those simple things last year helped us figure things out. Sure paid off this year and we've come a long way since then. Thanks. Steve

[@TheRetirementTrainStraightTalk]

Looking Good Steve. Great Video... Also, thanks for the recommendation last week Sir.

[@retirementcorner]

That was a great video. I've always remembered that part and it rang so true to me. Pretty much how I went about things myself. Finding the right puzzle piece to fit each area of the retirement puzzle. Having some duplicate pieces helps. When I loose one I've usually got a spare I can replace it with. Built in raise, other accounts to drawl from etc. Thanks. Steve

[@kellyjames516]

Mr. Steve - you come across to me as a friend sharing info. I'm getting ready to retire in a few months. I have not experienced you to come across preachy. Thanks for sharing you experience.

[@retirementcorner]

I try to give my own opinion and experiences. Sometimes I think it sounds preachy or like I'm telling people what to do. So I trash those videos and don't post them. I'm really just talking about my retirement and saying how I've gotten over some of the hurdles we've come across. Talking about the best parts of retirement for us. Maybe it will give people an idea of actually how retirement can be for themselves. Thanks and take care. Steve

[@nakendraperry6264]

Love your videos and how transparent you are. You make retirement look and sound easy as long as you plan accordingly.

[@retirementcorner]

It has been for us anyway. A little planning goes a long way. We did the best we could with what we had to work with. Luckily we've been able to build a life in retirement that we are happy and content with. Really wasn't that hard and retirement has been sweet. Thanks and take care. Steve

[@chiron3489]

Have been retired for 10 years and continued working part-time, and I honestly enjoyed it. I'm healthy, maybe because of that fact. And it's helped me not dip into savings/investments.

[@retirementcorner]

Good for you. A lot of people take a part time in retirement. I even thought about it. It has many benefits other than the money. It can help make the adjustment, give you some social connections, something to do,something new to learn etc. It's a good idea but something a lot of people don't think about trying. Take care. Steve

[@RetiredFarmboy]

Good video. Good to see y’all are frugal. I know a couple people who opened the floodgates after they retired. It’s a matter of time until they will have a rude awakening.

[@retirementcorner]

Honestly we could spend more than we do but we just don't have the desire or need to. Opening the flood gates to soon or wide can definitely lead to problems down the road. Haven't seen that personally but can definitely understand it. Thanks. Steve

[@EricDaMAJ]

I have my ups and downs making money from my investments and spending too. I worry but every time i feel down about it I remind myself I have modest tastes. I don’t need a new fancy car or expensive gadgets to feel wealthy. And no matter how bad the investments perform I’m always doing way better than somebody else who, despite their disadvantages, is getting by just fine.

[@retirementcorner]

Exactly!! It's all about perspective. We do the same. Simple people living a simple life and loving it all. Thanks and take care. Steve

[@kcatv9556]

You’re not confusing Steve. We all get ideas from each other Appreciate you making the videos.

[@retirementcorner]

For me it's not but we're living it. Sometimes I don't think I convey exactly what I mean and it can be confusing to someone on the outside looking in. That's why I love the comments and emails. Gives me a chance to clear up anything that might be confusing. Thanks. Steve

[@joethecomputerguy1]

Yep. Was diagnosed wih cancer a few months ago. Over $60k in bills so far and treatment has not even started yet.

[@retirementcorner]

So Sorry to hear that. Cancer is a terrible disease and affects millions. Very few can cover the cost and having to worry about their health at the same time is the worst. Got a friend fighting it now. Her bills are outrageous. No way she'll ever be able to pay them. I pray it's not too bad and is curable. Try and stay positive and take care of yourself the best you can. Steve

[@RinaValan]

Great video. I’m going through the same myself. I’m back on KZbin now and hoping I can make just alittle every month to help out.

[@retirementcorner]

That's great to hear. Every little bit helps. I've found youtube to be a great retirement hobby. I get lots of help and info from viewers. Answering comments and emails is fun and I get to know so many people from all over. I would recommend it to anybody that retires. Take care. Steve

[@djcoolrule]

If you have a pension or two it may appear as you're bleeding but as you stated in the summer you will spend more than in the winter. There will always be emergencies as long as you have the funds to cover it. Nice advice.

[@retirementcorner]

The money is not really the problem. The spending is our problem. Fortunately we had the money but letting go of it ain't easy. Last year it would have caused us a lot of anxiety. After doing simple things like I mentioned it helped us learn it was OK. This time we just payed it and it didn't bother us like it would have in the past. Thanks. Steve

[@ivanvarykino8202]

Totally with you Steve! I used to joke with my late with that if it weren't for her, I'd be living in a cardboard box. It would have been well kept and tidy. But nonetheless, a box 😉

[@retirementcorner]

I got lucky and married well. She truly has been a blessing to me over the years. I hate to hear your wife has past. One of the worst things about retirement and hardest things in life is loosing a loved one. I hope you are doing well. Take care and thanks for the comment. Steve

[@mhammer5]

Great video. I just found your channel. A couple years ago I watched a channel from a younger guy would always stress 62 62! I was already retired and older than this person. This person didn't understand that in life everyone's "boat" ( Life ) is different. Many of us tried to get through to this person to no avail. He lives in Florida and is overbearing in his videos.

[@JD-tn5tb]

Yes, I can't stand him. Don't understand why he has so many subscribers and these good honest channels don't have as many. I stopped watching him so I wouldn't be supporting him and because he was so wrong.

[@retirementcorner]

Same as I see it. Everybody's boat is different. Just like everybody's idea of their retirement is different than anybody else. This is just mine. Hopefully if I'm as straight forward as I can be people will have an idea of how retirement is or can be for their idea of retirement. I'm a few years younger than he is and new to retirement(less than 2 years). Just kind of winging it and learning as I go. Thanks and take care. Steve

[@RetiredLovingIt]

Always something that we have to spend own. Never gets easy though especially if it’s a big hit

[@retirementcorner]

So true. My wife is always saying "somebody is always wanting HER money".😂 Seems like it comes in waves then it flattens out before the waves hit again. The summer months we ride the "Pipeline" of Oahu in Virginia.😅 Take care. Steve

[@andrerodriguez7603]

I got laid off at 64 with $120K. I was forced into an early retirement. I was worried, I tell ya. But I took all my $120k and invested in tech stocks in the stock market in late 2019. With the stock market was flying in 2020 and 2021, my portfolio 10X. Even with the market taking a dump in 2022 I’m still set for life. I haven’t a care in the world. I love being retired. Oh, one question for ya. Who writes checks these days? I had to chuckle at that one, hearing your wife writes checks. When someone at the grocery checkout starts writing a check it’s totally amazing to me. I thought everyone uses a debit card, or Pay app with their phone. Try that out, way more convenient and safer than writing checks.

[@retirementcorner]

So in 64 years you only managed to save $120k but in retirement in 2 years you made over a million. Good for you. No way I could have. Don't have that much knowledge or luck. I'd ended up with $0. Don't write checks often but when it's convenient for us we do. You'd be surprised the number of places that don't take debit or pay apps or charge you a fee if you do. Some places only take cash no checks accepted. Just depends on the circumstance as to how we pay. Thanks. Steve

[@andrerodriguez7603]

@@retirementcorner yes, allot of luck on my investments. I tried back in the early 2000’s and lost all my retirement. I had to start all over, but I learned from my mistakes. I talked to a friend of mine and his parents in Wisconsin still write checks, and allot of other people too. 👍🏻👍🏻

[@swamprat9018]

This summer I bought a Manbo Ice shaver $20 amazon. picked up Banana, tiger blood and bahamma momma syrup. well I ended up buying a gallon jug of the banana and found if I put a drizzle of sweetened condense milk on top....man they have been hitting the spot for me. strawberry syrup for milk works good too. gonna watch your other video and going to go make me a snow bowl. might put a couple slices of peaches or watermelon in there with it.

[@retirementcorner]

My wife made a peach pie the other day. Just great. That little treat you talk about sounds great. Made a fruit pizza last weekend. Loved that. Peaches, strawberries and bluebarries on a cookie dough crust. Great after dinner snack. Take care. Steve

[@swamprat9018]

@@retirementcorner we keep talking food you going to have to walk more for both of us.

[@raybod1775]

I retired from my main job 8 years ago, but always keep working just less hours.

[@retirementcorner]

That's great. Work has a lot of benefits other than the money. Especially in retirement. Mental, physical etc. and the money helps in a pinch. Good for you. Take care. Steve

[@52CA]

Vehicles is one area I’ve been able to really scrimp on. Most expensive car we drive was 3k. Tires most I’ve ever paid was 167.00. And my insurance is just over a 100.00 a year. Yes we drive junk that is 20yrs old and 300k but in my whole life I’ve never not got where I’m going because my car broke down.

[@retirementcorner]

Must be nice. I might have to move up there. Would be hard to get used or recaps here that cheap. Paid more for a windshield 20 years ago. $100/yr for insurance is amazing. I never paid that little even when I was single with one vehicle 40 years ago. No wonder you're rolling in the dough in retirement. Good for you. Keep it up. Take care and thanks. Steve

[@maxwellhouse750]

Your description of your budget with the buffer wasn’t confusing at all. Everyone here on this channel likely has some sort of monthly plan that eventually goes a little out of whack for whatever reason and we adjust accordingly.

[@retirementcorner]

Wasn't sure so I tried to be a little more clear. I tend to forget people watch and just because it makes sense to me it doesn't always to others. Plus I just flap my gums and don't use a script or anything so sometimes I screwup. Take care. Steve

[@57054]

If you're 58 to 62 and are set financially to retire It's amazing how many freeloaders appear in your life. Even when no one knows how much $ you have. It's like they can sense it that you've got money.

[@retirementcorner]

Never had a problem with that personally. Wouldn't matter because I'm always broke. Thanks. Steve

[@dklauf]

Adult Kids?

[@daviddaniels100]

Saving money is my hobby.

[@retirementcorner]

"Collecting pictures of dead presidents" is what a buddy of mine called it. I was fortunate to have collected enough I retired. Now I'm trading them for free time. Thanks. Steve

[@dannyknapp515]

Great video👍are you drawing from social security and a retirement fund ? Seems so as a couple you guys would be all set with a decent amount every month

[@retirementcorner]

I'm 58 so I've got awhile till SS. I do have a small pension of about $850 after tax and the rest of my living expenses comes from my 401k. You're right though. When we start SS and add in my pension that should be all we need. Having the money ain't the problem for us. It's learning we can spend that gave us problems. Just seems strange to be able to spend what we need or want and not have a job. Never done that before and had to get used to the idea. Take care. Steve

[@jd218]

I had to buy a set of 19" 3:06 tires for my car 220$ piece.Had been three years since I purchased tires they have gone way up.I bought Coopers. Four years ago I put a set of Nitto ridge grapplers on a 4wd and payed less.inflation add car insurance personal property.I switched from State farm to Erie im 60 and had been with State farm since I was 16. We dropped land lines went all cell phones.Dropted dish got Roku TV.

[@retirementcorner]

Everything continually rises it seems. That's the thing with tires. You only buy them every so often and when you do they've gotten a lot more expensive. The string factory I worked at we made the tire cord for Firestone and we got a discount from there. Came in handy. Take care. Steve

[@jimhoge3252]

Makes sense to me. Good job!

[@retirementcorner]

Makes sense to us also. Took a lot of work for us to overcome the anxiety of spending in retirement. The budget seems to be working out the way we planned. Go figure.😄 Thanks and take care. Steve

[@jamespearson1621]

BRING your WIFE to the corner ,we want to meet her.

[@retirementcorner]

I've tried for 2 years. She wants nothing to do with it. Got an idea about that though. See if I can't put it out on a video somehow. We'll see. Thanks. Steve

[@georgejetson4378]

So which is it? At the beginning of your video at 0:41, you state how difficult it is for you to spend money in retirement then at about 3:05 you say that you’ve gotten comfortable with spending. I sure am confused. Must be that southern air.

[@retirementcorner]

It is and always will be hard for us to spend freely in retirement. We've just gotten comfortable with the idea that we can without one of us having a job. Watching that money leave our account takes some getting used to. We always knew that's what would happen and that's the reason we saved it in the first place. Doesn't make it any easier. We can but don't want to. Hope that helps. Great question. Thanks. Steve

[@booboolips6053]

I have very few bills. If it wasn’t for medical expenses I would be rich.

[@retirementcorner]

If it wasn't for our bad habit of eating so would we.😂 Medical expenses are rough especially if you have a chronic condition. Diabetes, heart failure, Bp etc. Seems like you are always paying for medicine, doctors visits ex. Doesn't get any better as we age either. Exactly why our health insurance choice was important. Take care. Steve

[@gavinwagner1766]

Amen brotha!

[@retirementcorner]

Thanks. Steve

[@billb945]

We're spending a lot less in retirement. We're not spending about $2,500 a month which makes cruising when and where we want fairly easy. 10 years now.

[@retirementcorner]

10 years. That's fantastic. Good for you both and glad to hear a success story like Y'alls. I like to hear from seasoned retirees like Y'all. Gives me some info and insight to what lies ahead. We spend just about the same as when I was working but that's exactly how I wanted to retire. Take care and enjoy. Steve

[@jeanninelaplante5584]

Do Znorbert and Roland Aldo like Clamato

[@retirementcorner]

Could be but my "Magic 8 Ball" says no.😅 Take care. Steve

[@Susie-QSlotsVegasStyle-th4wc]

Spend it before big gov takes it !!! Enjoy, just dont freely give it to pikers in a bind..

[@retirementcorner]

Yep! The gov sure don't mind taking it. Never had much problem with the pikers. Wouldn't make much difference. I'm always broke. Thanks. Steve

[@BigTexMSH]

Steve, do you drink alcohol for enjoyment?

[@retirementcorner]

Very little. Sweet tea, coffee and water is about all. Kind of like Hank Jr. "Cornbread and Ice Tea".😄 Thanks. Steve

[@Dodgerblue7381-ey3ql]

I left my weekend job at the storage facility after a year. Still driving a couple of days for the auto auction. My budget we have $1200 a month left over after expenses but wehen I retired a little over 2 years ago, I had $2200 a month left over. I will have to switch health insurance because it is too expensive. California just isnt a good place to retire. I have 2 options, leave California, if I can convince my wife or get another full time job, If the Democrats win and do the tax increases my $1200 will be close to gone

[@retirementcorner]

That's a big buffer you had. Thank goodness you did otherwise you might be working full time now. Our expenses only went up about 10% the last 3 years but with the elimination of my truck payment I get my buffer back and can stay with the same budget. Insurance taxes and just the rising cost of things have eat into it. The election could have a big affect on a lot of retirements. Never been to Cali. but know some from there and they say the same thing you do. Too bad it could be a wonderful place to retire I think. Take care. Steve

[@leisure057blank3]

I saved money specifically to make home improvements and I need a new roof and to refresh the skylights, but that will bring my net worth down. Sob.

[@retirementcorner]

Sucks don't it. We have the money but hard to let go of. Old habits die hard. Took us awhile to learn we could even without a job. Thanks. Steve

[@tonysimons7218]

This is why you need other income to replace your w2 income.

[@retirementcorner]

We do. The income ain't our problem. Getting comfortable with spending is or has been our problem. Just something we've had to learn since I retired. Took awhile but we are finally figuring it out. Take care. Steve

[@joeyjennings9548]

been working hard since 1974. we count toilet paper sheets? lol even if i never spent nothing it wouldnt matter. food.. whats that?

[@retirementcorner]

Exactly! We were doing good till our kids found out that Christmas came on Dec. 25th and not the 2nd of Jan. Caught the after Christmas deals.🤣 Take care. Steve

[@canadamustang]

I didn't think anybody used checks these days.

[@richardc8333]

For some things, you still have no choice , i.e. contractors. Most won't take cards, and those that do, charge a fee for accepting a credit card so I still write them a check.

[@retirementcorner]

Could have used cash or a card of some type but they had a 3% charge for cards. Some places won't take cards at all and some won't take cash. We rarely write any checks. Maybe once a year or so. Take care. Steve

[@joycef8443]

Property tax, some donations.

[@Noname77331]

👍🏻👍🏻

[@retirementcorner]

Thanks. Steve

[@leeluna6495]

For your own economic sake, have you looked into the policies of the Democrats vs the Republicans with regard to the Affordable Care Act, taxes on the middle class, shoring up Social Security? I'm disheartened to see people dismiss a candidate on superficial and immaterial grounds and not focus on the long game which is which party has the policies which benefit the working class and retirees. Democrats haven't always been right on issues like NAFTA (also supported by Rs) or unfunded spending (unfunded tax cuts from the Rs are as bad) and think more strategically and long-term on policy differences which they research from multiple sources. There's a terrific documentary on PBS now following two Milwaukee families for 34 years of economic struggles. Rather than side with either particular party, this real example shows how things like predatory creditors, medical bills for uninsured workers, jobs not protected by unions and many more "free market" policies can make it nearly impossible for the working class to survive.

[@retirementcorner]

I keep abreast of things but honestly we've always seem to do pretty good no matter the policies or party. I got no control over their policy making anyway just the way I deal with them. Political party doesn't really matter much. What might be superficial and immaterial to you might be a necessary to somebody else. I generally pick who I think will do the best for me and my family. Whether they do it or not I got no control over. Thanks. Steve

[@Floorguy1985]

​@@retirementcornerYou write the political party doesn't matter 😂😂😂 Does inflation matter. You probably are a Biden voter so I have zero sympathy for you.

[@KayFabe87]

Not the place for political proselytizing. Your beloved democrats have sold you out for the benefit of all the “newcomers” that they are seeking to legalize and turn into voters in order to ensure a permanent one party system. This is not the dem party of JFK, or even Bill Clinton. Both would be considered “too far to the right” for today’s far left dems.