The 7 MOST IMPORTANT Things to Own in Retirement

[@foundryfinancial]

Videos like this always make me nervous, because they can be misconstrued. We still want to be smart with our money, but sometimes it’s okay to spend on our health and happiness. Interested to hear your feedback!

[@993mike]

I sold my business and retired a couple years ago at age 62, and have been on a mission to get in my best shape. I ride my road bike (and occasionally my mountain bike) 3 times a week since I’m in northern California, and use my Peloton for rainy day. The other 3 days I do weight training, and then Sunday is my off day. I feel great and now weigh about the same as I did when I was in my 20’s, and my doctor says my vitals are stellar. Staying in shape, eating well, and getting good sleep are the key I believe to longevity. Oh, and I do love drive my Porsche GT3 as well it keeps me feeling like a kid!

[@timothylindsay3244]

That’s why I bought a pre-owned (CPO) used Porsche sports car….price was reasonable, paid off in 5 years, now, 11 years later I am still enjoying the heck out of the car with 145k miles on the odometer. Basic maintenance cost about the same as my previous autos. Every time I jump in the car it puts a smile on my face.

[@jonwarshawsky5288]

Mine is older, but in general I think a Porsche is a reasonable option - and huge fun. Other exotic cars can throw you large repair bills that can wreck your retirement finances. Porsches aren’t cheap to run, but in the spectrum of dream cars they are “less reckless” than, say, an Aston Martin DBS in need of a $15K brake job.

[@maxflight777]

love your post Tim !

[@scootertooter6874]

2021 992.1 S CPO buyer here...everyone needs a little three-digit speed in their lives to (as Wally Schirra would say...) "Keep an even strain..."

[@Docinaplane]

Yup, got a yellow 2022 Porsche 718 Spyder this year. Love it!!

[@imkona87]

Porsche, There Is No Substitute, as they say. Purchased my first one in 1973, a 1971 911 T Targa. Now I am 76 years old and still look forward to driving my 2009 Carrera S PDK almost daily.

[@lynnebucher6537]

I have a vintage but good quality Trek road bike. Finally got it updated with new tires, tubes, chain, a bottom bracket service. Works like new.

[@Ethan-bu2zy]

I’m still working for probably another 5-7 years. Bought a C8 HTC this past summer and absolutely love it. No matter what kind of day I’m having, hearing that car start up and driving for 20-30 minutes never fails to bring a smile to my face. 😊

[@armandcruz5888]

I 've been retired since 2002 and the first purchase I made was my dream car in the same year. Wow, just like yours, it never fails to bring a smile to my face--even these days. I am from the US and retires in the Philippines where I had shipped the car across the Pacific Ocean so we be "together." 😂

[@naushadvirji6251]

I'm not retired just yet, but I picked up a Porsche 911 Turbo S and a Rivian R1T. I love both these cars and enjoy them daily. No regrets.

[@100rkw]

In late 2019 I bought a 2015 Porsche 911 (Carrera 4S Cabriolet 991.1 for you aficionados) with 6,640 miles on it for $85,000. I put about 2,000 miles per year on it, driving it only when it’s nice enough to put the top down. Today it’s worth at least what I paid for it. So for the opportunity cost of the money I paid, I have summertime fun and save my primary car - which does depreciate - from adding those 2,000 miles per year to the odometer. The point is: buying your bucket list car isn’t necessarily a frivolous purchase.

[@zazhou]

Agree partly. In my country, a Porsche will retain its value better than the average car or luxury sedan or SUV. But it will still depreciate , so it will mean some financial cost for one's enjoyment and pleasure.

[@993mike]

With Porsches it’s all about the model you buy. 911’s are the least depreciating model, and my 2018 991.2 GT3 I bought new a couple years before retiring has cost me nothing to own it except for a yearly basic service, insurance and registration as I keep the miles low. My dealer has offered me the full MSRP price if I ever trade it or sell it outright multiple times, and there are very few other cars you can say that about.

[@johnwhodat8135]

​@@993mike..I have two 991.1 911; c2s w/ akropovic and gt3 w/sharkwerks. Love em both.😅

[@haydnd2764]

Hi, from here in the uk. I’m aged 65, 3 years ago I bought a newish Jaguar F type sports car, became involved in the Jaguar Enthusiast Club. Made many new friends and enjoy attending shows, day trips and over night tours. Still kept my reliable Volvo as a daily driver. !!

[@glennet9613]

We sold our house and rent an apartment in the mountains so we can hike, cycle or ski every day, building our life around exercise rather than fitting exercise around our life. We’ve been retired for twenty years, I’m 79, and think it’s worth rethinking your lifestyle from scratch, the proceeds from our house sale allow us to rent a fairly luxurious apartment with some left over. We have a lot of holidays but they are all centred around cycling, walking or skiing. Diet is also important, cooking from scratch with good quality single ingredient foods, lean meat, fresh vegetables, fruit and dairy products - and eating only at restaurants that cook likewise, no junk food.

[@ok2tmtsg]

That's exactly what I've envisioned for my retirement life. I just retired last month and plans to travel around the world for 5 years with an annual spending budget of $250k, then settle down back to the States thereafter... May I ask which state you choose to live in right now for the lifestyle you described? Appreciate it if you would respond.

[@foundryfinancial]

Diet is huge. I wish I would have mentioned that.

[@glennet9613]

@ Switzerland. When we retired we took our bikes to Europe every year for seven or eight years touring a different country each time. Eventually we sold our house in Australia and moved to the south of France and then about eight years ago to Switzerland. It has been an incredible retirement so far.

[@ok2tmtsg]

​@glennet9613 I adore your fabulous life in the Alps, which is part of our retirement plan as well. Although my husband (who speaks Swiss-German) and I have vacationed in Europe many times in the past two decades, we will likely spend more time exploring other parts of the world, including the Arctic and Antarctica, and other continents such as Africa safaris, Australia and New Zealand within the next 2-3 retirement years. Then a few more years in the Alps as well😎...

[@JosephGates-cg9bp]

@@glennet9613How were you able to live in Switzerland? I was under the impression that to live there you needed to be proficient in speaking German and have a job. We have an interest in living in Europe (Germany, Austria, Switzerland) but I’m not sure how to go about it. Thanks

[@jonwarshawsky5288]

Pleasantly surprised to see the dream car recommendation. Retirement shouldn’t mean life in a minivan/SUV. Life is a one-way trip, so don’t deny yourself one of the simpler dreams.

[@rc51bigdaddy]

I live in an over 55 retirement community and see quite a few bucket list sports cars around here:) Me included. We leased a 911 back in 2016 (pre-retirement) and ended up really enjoying the car so we purchased the car at lease end. Now it is paid off and has depreciated enough that the cost of ownership is not terrible. I love this video. All great advice. We have worked with financial planners for decades and it has paid off big time, enabling us to have a comfortable retirement. So so important!!

[@mrclean0967]

Kevin, even though we never met l can tell by watching your videos that you have a very kind disposition. You definitely found the right profession as you absolutely come across as a trustworthy man who knows what he's talking about regarding finances. In today's world, trusting people with financial advice can be very awkward. It's comforting to see transparent people like yourself that have everyone's best financial interests at stake. Merry Christmas Sir.

[@foundryfinancial]

Thank you for your kind words! I do love this work.

[@casmithc2]

My Father just bought his 13th Corvette at age 84. Money well spent. 😂

[@rabukan5842]

I’m 67, am a martial arts/tai chi/Qi Gong instructor and don’t need anything to train other than a few meters of space, a couple of sticks and staffs, and a heavy bag. I walk/jog outside for free, sold all my tech dive gear except for what I need to dive reefs, kept my favorite saddle for riding, have my favorite guitars for 30 years, have my same 2006 Lexus and a 2012 BMW gs motorcycle, basically do not care about material things. I am healthier than most 30 year olds and am free to do as I please, and to travel the world visiting friends.

[@HandyDandy4u]

Doesn't anyone work out by walking, running, hiking or cycling anymore? Why "invest" in expensive equipment when you get benefits well beyond physical exercise by just going outside.

[@stepupsel]

Yes. But it is snow and cold, I hate.

[@foundryfinancial]

Sure, but it can be hard to do depending on where you live. It doesn’t have to be expensive. Also, I do think weight training is important. Tons of research around this.

[@peteb6325]

You’ve heard of winter?

[@g420677]

I'm 77 years old and live in Michigan. I go to the pool 6 days a week and Power House for weights 2 days. I've got lots of exercise equipment in the basement but don't often use it. I enjoy getting out of the house and being with others for the social aspects.

[@ramonalofgren5552]

I agree. I get exercise every day by taking the stairs in my office bldg, yard work, walking, and playing pickleball. This Xmas we are all getting new snowshoes so will be adding that too!

[@dormandavis2767]

Pay off your house before you retire that’s my best advice to anybody. I have 10 more months in my house is paid for and I’m so freaking happy.

[@perez5249]

Congratulations! I pray that you are healthy enough to enjoy it for many years.

[@MWS1960]

Bought a 2014 Porsche 911 which is a dream to drive..that’s the fun car. The other car is a Tesla model Y, which is inexpensive to drive and hardly any maintenance other than tires. This is our third Tesla and we absolutely love them. Gym…I walk up into the mountains that sit behind my house in Scottsdale, AZ..provides me time to walk with my youngest son and how things are going at University. When I’m not walking I’m cycling or riding my motorcycle up into flagstaff. Of course meeting friends in a daily basis where I gain new insights

[@maxflight777]

Love your combo sir ⬆️👍🏻👍🏻👍🏻 I have a model Y (download the acceleration boost btw) I’m thinking of getting a 2year old 911 too !

[@maxflight777]

motorcycles too … so utterly fulfilling

[@rc51bigdaddy]

Sounds similar to me. Our daily driver is a Model Y with the fun car being a 2016 911. Also have a Toyota 4Runner for utility needs. Great combo. We drive the Model Y 95% of the time. I also have a Gas Gas ES500 dual sport and various road and mountain bicycles. All good!

[@MWS1960]

@@rc51bigdaddy yep forgot about my Specialized S Works road bicycle ….that makes me more confident when riding my BMW R 1250RT

[@corradotox]

I have a home gym that I bought at the beginning of the pandemic and I agree that it’s useful. However, I would argue that if you don’t have the motivation to go to a gym, you probably won’t train at home, either. My gym was very useful when the gyms were closed in 2020 and when my work schedule didn’t allow me to go to one, but if I were retired now, those wouldn’t be relevant factors anymore. Additionally, I use my gym time to meet people and create new relationships, which is an important aspect to consider for people that are retired and don’t have work colleagues anymore

[@xbalance]

I am 62 and have had a home gym for many years. I exercise 7 days a week most weeks. Exercise is a critical component of my plan to maximize healthspan.

[@xbalance]

​@@zenmachine50I exercise first thing, before eating. I alternate days doing resistance training 3 or 4 days a week and cardio then other days.

[@skillsonian]

I actually find that I work-out more reliably when I go to a gym outside my home. When “it’s right there…”, I don’t use it. When the decision is to get in the car, I do it reliably.

[@stephendibari5010]

3 years ago, as I was getting closer to retirement I bought an ultra reliable older 2002 Lexus ES300, one owner. Have replaced several OEM 20 year old parts but this car will last me several years past retirement in about 3-4 years from now. I have no plans on replacing it. These engines will last at least 300k miles if maintained properly. Many years ago I bought a BowFlex Revolution home gym, about 5-6 years ago I bought a BowFlex M3 (elliptical) trainer. I use both regularly and will continue to use it. Last year for my 59th birthday I bought a classic 1999 C5 hardtop w only 18k miles. 6 speed manual. Absolutely love it. Puts a smile on my face every time I start it up and drive it Will look into Boldin software soon and a CFP.

[@calilocal4134]

keep it simple,be happy with what you have.😊

[@g.ajemian4968]

Great video I think they’re all great Suggestions and i appreciate your being so candid about number seven but your passion and sincerity carry more weight

[@Boulderdad1248]

I’m doing the math on a slightly used Mazda Miata. Cheap to buy, cheap to operate, low insurance, cheap to repair and at 24k a low opportunity cost/ depreciation . The 5 year cost of ownership is slightly more than two Dyson vacuum cleaners. I kind of get why new retirees buy a roadster, it’s legit cheap fun.

[@Chiroman527]

Excellent choice ... Smart on your part. The Miata is great car much less exspensive to care for and maintain. Maybe it's Not a Porche, but it's close and leaves more $$$$ in Your pocket with a terrific Fun Factor. I would probably entertain doing something similar, however, at 73 with many spinal ailments, it would take a wench to get me in and out of cars like that. However, your comments have prompted me to review my situation.....maybe a Porche Macan (Used of course).

[@Bud755]

Miata Is Always The Answer! 😀

[@thomasfeltes1041]

Honda Ridgeline best reliable and handy vehicle to own.

[@leonadams1053]

In retirement you’ll want to go into a gym/club/YMCA to get some social interaction as well. Skip that Tonal and Peleton isolation workout.

[@susiefisch]

I say, rent the “car of your dreams” and try it out. Especially on vacation. We rented a red convertible on a trip to Arizona - my dream! But was glad to give it up after 10 days, I worried about it every day. Not a relaxing vacation.

[@tomdrewenskus8167]

Why would you worry about renting a red convertible while on vacation for 10 days? Did you think you would get robbed or have the car stolen? Please explain.

[@susiefisch]

@ yes to both.

[@susiefisch]

@ The car felt very unsecured, so when we would park it for a lunch or to visit somewhere, I was nervous to leave anything in the car. Also gas mileage was terrible with the top down, and my hair was always a wind-blown mess!

[@louisverduzco851]

​@susiefisch Ah yes, but convertibles are so worth it to make you feel alive! Nothing like cruising top-down on a warm summer evening. 😊

[@surpriserakins9067]

Arguably it isn't really the car of your dreams.

[@dc13032]

Not for me, can’t stand working out in any gym. Gotta be outside, running, biking, skiing, hiking

[@rosemarybanner]

We have a minimal home gym…treadmill, cheap exercise bike, yoga mat, weights and stretch bands. We have a tv there and really use the equipment we have. Had a gym membership and was a big expense and only used it a few days a week. Agree with your recommendations.

[@TurboBobBailey]

5 years from retirement here. But following a similar plan so that when we jump all things will be in place (house fixed up and paid off), good car + toy (I keep toys for 30 years..), trips to the gym with neighbors and friends, good luggage. Credit my wife for having all these ideas last year..!! Always enjoy your videos, Right Capital is a great tool.

[@foundryfinancial]

Thank you!

[@marcusoutdoors4999]

Great video. I bought a smallish RV when I was 50 which is the time to do it. Definitely a lot to get used to when you’re older. On the crazy car front, you missed out the fact that a well chosen classic won’t depreciate

[@b4868]

On the topic of managing your health in retirement, I know of some high net worth friends that get annual diagnostic imaging (MRI) for early disease intervention (catch cancer early, etc). My understanding is you can get full body imaging or just upper body where most of issues might show up. And you don't have to do it annually, maybe every 2 years if that is better for the budget. I haven't done this yet but seemed like a good idea.

[@LaurieJoseph-z8f]

Studies have shown this to increase risk of more unnecessary procedures usually to work of benign spots. No evidence that randomly screening for tumors saves lives.

[@cplbulletsponge]

I say dont wait until retirement. Achieve these goals while working, young, and able.

[@francescotenti193]

Agreed 100% on the financial advisor, I am with the same person nearly 30 years and no regrets. I also agree with staying active but disagree on a home gym. More often than not gym equipment, like a treadmill, ends up being unused after the initial euphoria disappears. There are cheaper ways to stay active, walking, riding a bicycle and working in your yard. Since my retirement, 9 years ago, I have been doing all of the landscaping in my house, over 1 acre, lots of exercise and tons of money saved. 2 other major MUST are hobbies and be debt free. My 2 cents on the subject

[@ppw8716]

Loved this. Agree with all.

[@ppw8716]

Did the kitchen/house remodel and my husband purchased the car he’s always dreamed of because I was tired of hearing him say ‘one day’. I’m thinking of the home gym.

[@kenweiss7913]

This video has comforted me in that I have attended to a number of the items you mentioned here in the last couple of years prior to retirement and tempers my concerns as we move forward. We are 20 months from our planned retirement, and looking over the past 4 devastating years, if the inflation continues I don’t think we can retire. It appears that some sanity is coming, but who know. So, our vehicles were approaching 20 years of use and facing major repairs. We took the plunge even with such inflated prices and bought new(er) vehicles. They will be paid off prior to retirement. I want a pickup, but a friend said “get one level above what you think you need, you won’t regret it”. So I picked up a gas ¾ ton pickup instead of the typical half ton. So far it has been great! It feels much more stable and can do much more than I’m probably going to do with it, but I have the capacity should we want to tow or haul. We bought new luggage already and again it makes the process much easier and enjoyable. We also secured financial advisor(s) who have helped us shape, consolidate and project our financial status now and into the future. At this time we are looking to relocate (out of Alaska) to a warmer more hospitable place and while the costs are daunting, we want a house, community and lifestyle that will maximize our time left. We are focusing on the GO, slow go and no go years and ensuring the needs of all stages are considered. Thank you for your video!

[@jr.6199]

Your logic is evident in your capital purchases, i.e. complaining you cant retire because Inflation, while buying a new bigger truck than you even need, because somebody suggested it. Sure we believe the last four years ruined your retirement. Good luck with the tariff inflatiin coming next. Oh for math help, $5`8T debt is larger than $1,2T debt. Also the $8T debt added in 2016 to 2020 to the US debt crisis, was the largest that ever happened in any 4 year tem ever, oh but the price of eggs in 2022 must have weighed you down too.

[@oldguy4057]

An investment in a solar power system is worthwhile. I put mine in for cheap by buying used panels and doing the work myself. My regret: we later got a Tesla. I didn't size the system to recharge the car and power the home. I should have bought new, higher capacity panel. I may replace those panels the the better ones. The savings on he electric bill and gasoline bill make this upgrade pay for itself in short order.

[@davidhill7055]

I am 71 years old, retired at age 60. I agree with most of what you say, However, for me (and my personality) the Home Gym idea simply does not work. In other words I didn't use it. I have had expensive Nordic Tracks and home weight benches... and I never used them. However I have belonged to LA fitness for 24 years and go an average of 4-5 times a week. Once I am out of the house, there are no distractions and I am more motivated to do my workouts. I think other people being there has a lot to do with motivation to do well. The trick in picking a local fitness center is to pick one that is close. Consumers Reports once observed, the probability of going to the gym depends primarily on how close it is. Don't pick one on the other side of town, if there is one closer. My gym is 0.8 miles away. We travel a lot (mostly cruises) and have spent over 350 days at sea on various cruises. We bought good luggage 10 years ago, and are replacing our luggage now this year. 10 years is a good lifespan for luggage.

[@suen5006]

I have no place for a home gym and I want to work out with a friend so we are going to join a gym.

[@jr.6199]

You argue for gym location but what gym is closer than your spare bedroom or shed?

[@davidhill7055]

@ Like I said, home gyms never motivated me to work out, I had them and never used them. Ended up selling the equipment. But I do use my community gym. That’s just me.

[@zazhou]

Everyone is different. Some people can do home gym, others not. I do gym exercises at home without the need for expensive equipment, just doing simple push ups, sit ups, crunches planks, etc.

[@davidhill7055]

@@zazhou Yes one size does not fit all. As long as you are doing something on a regular basis, it will be meaningful during your retirement years. Even if it simply walking 30 minutes most days. Adding in a bit of strength training 3 times a week is very important too.

[@steventogami898]

Great list. Thank you for the video.

[@roberttempest1208]

Consulting a financial planner would probably prevented my complete financial destruction at 80 through lending money.

[@ralphramirez1979]

I'm 66 at 57 i bought a beach shack in mexico 60k i fixed it up. I can walk to go surf fish. I have a jeep motorcycle. I visit my family when i want. 2.5 hr flight. Life is good😊 I got use to the heat not to bad October thur may.

[@maxflight777]

Your advice is very accurate! I’m a pilot and the luggage brand “away” is popular amongst my colleagues

[@shareeminor9125]

I purchased used gym equip. It's filler for in between gym visits, but if i need a full home work- out I have enough of everything... great tips! I retire in 4 years and am currently working on paying off my home in 2025, then financial planning 80% of my income for the last 3 years after my rainy day fund.

[@Peter-Alexander]

I bought a '97 fireblade (sc33 honda cbr900rr). Awsome and it keeps me young 😊.

[@RedfishGB]

I’m OK with a fee based advisor annually, not the 1% of assets managed type.

[@foundryfinancial]

You can get whatever type works for you! I just think it’s an important thing to have.

[@wendya1580]

Perfect for you! We older, were uninformed, and need the AUM. What works for people is so individual. I'm glad you found what works for you. When friends ask me about it, I tell them to at least get a complete review, a "financial physical" and plan by a CFP (not someone just pushing annuities and such) and then an annual review. To treat it like going to the doctor--just want to make sure things are okay and whether anything needs attention. If they have enough money to warrant it, though. If they don't, I tell them to max their 401k in a Target Date Fund and max their Roth IRA.

[@Simcat-8222]

What a great video, thanks for this. Totally onboard with all of those categories. I’m planning to retire in 2 years and I think I’ve convinced my wife to support my ‘irresponsible car purchase’ 😂.

[@dmf37207]

I recommend making big ticket home improvement purchases before you are on a fixed income. Replace the roof, HVAC, windows, appliances, etc. if it is apparent that they will need to be replaced sooner rather than later. I totally agree getting a reliable automobile, at least get the auto you already own up to snuff, best tires, battery, and maintenance that is within reason. Be aware that getting pets may lead to high veterinary costs (I speak from experience)

[@wendykornfein3337]

Such wonderful advice!

[@grantguy8933]

Brilliant ideas. ❤

[@PH-md8xp]

Good video! I am 60, retired at 56, enjoying retirement doing all of the 7 things you’ve suggested with the exception of one. You got me thinking about that Porsche Taycan 4S I’ve been dreaming about for the last couple years. 😅 Seriously though, on #7, I’ve been working with a financial advisor for close to 20 years and through my partnership with him, I have been able to achieve certain important financial goals that, on my own, while busy with life, I might not have been able to achieve with as much success. Honestly, working with my advisor gave me the confidence to retire as early as I did and the additional benefit of just getting out of the rat race is life altering.

[@lindsaynewell6319]

#1 made me laugh. I’ve owned a treadmill, bowflex and free weights for a decade and find it really hard to motivate myself to use any of it. But going to the gym where I have an instructor and a group to work out with is much easier for me and a key part of my social life. Fortunately I did the irresponsible car purchase (986S) in my 30s before kids required more than 2 seats. But I’m tempted to do a few track days or return to karting when I have the time and funds. Good list, thanks Kevin.

[@foundryfinancial]

That’s a great counterpoint. I just could never make myself be consistent at the gym. That maybe a me problem!! :)

[@DEEZEEMTB]

Not a home gym fan. I have a great gym 1 mile from my house. Walk to and from 5 days a week.

[@foundryfinancial]

If you make it, then that’s the best option!

[@sachamo100]

At 68, I account for my excellent health, due to my home gym.

[@folkchick1]

How about buying a really great musical instrument?

[@foundryfinancial]

I love that idea! We bought my wife a piano 15 years ago and it is some of the best money we've spent.

[@timb.8230]

You can get a decent Taylor guitar for $600ish. Good investment.

[@damienbates]

That’s a big negative on the financial advisor. They can eat away nearly a third of your retirement at 1%AUM over a 30 year period. Better to get a fee based advisor and review everything every 3-5 years.

[@foundryfinancial]

If you believe it’s a zero sum game - then maybe. Vanguard has a study to say different. If what you’re doing is working for you - keep at it. Here’s a link to the study: bit.ly/3Vv4r8J

[@johnbrown1851]

4% safe withdrawal rate - 1% AUM fees =25%of your distribution for the year going to the advisor......ouch!!!! 🤕

[@williewonka6694]

It's not rocket science, low cost stock index funds in tax-advantaged instruments and anyone with a plan and a bit of moxie will become a multimillionaire. An advisor is a drag on your progress, and could be a disaster.

[@jenniferbmendezful]

A certified financial planner yes, …run of the mill financial investor no. Those characters don’t know how to put it all together with the tax implications kept in mind.

[@wendya1580]

@@jenniferbmendezful Three years ago, we (me 61F and Husband 65M) hit a point where Husband's work was untenable. Mom had a CFP (not like she had a lot--at all--but she sucked with money) whom I had met a couple of times. I had taken over her bill-paying some years before (took 2 1/2 years to get her out of $70K of debt), but then she sold her rental, then went into assisted living (both before covid), then sold her house (during covid). Now there was $1M and I was NOT qualified to oversee this. I was expecting Mom to live another 10 years, like her mother. It was not to be. My 1/3 share of the inheritance and Husband's work made us go see the CFP for ourselves. We wished we had done it years ago, on an hourly basis at the start, to get ducks in a row. We had saved, but there were too many accounts, a few mistakes (annuities--Husband's matured this year, mine matures next year), and just general "we cannot afford another mistake." He encouraged Husband (whose mother died 6 weeks before mine died) to consider retirement--yes, at the end of 2021. The CFP's method (three buckets of now-soon-later) was quite similar to how we already thought, but was obviously more refined and knowledgeable. We don't mind the 1% AUM, because, frankly, we don't want to deal with this beyond tracking things (I'm a bit ocd and can get overwhelmed). We don't have debt of any kind. No kids. And the Monte Carlo is so good, the CFP is encouraging us to spend more. We like that. We're not used to it, but we like it. And we need that push.

[@pamstroud-h9o]

Love you Kevin!

[@Allegan49010]

Great advice, we have done most but the biggest concern we have is taxes on RMDs, as my wife starts RMD next year,,,both our RMD's will be getting large in the future!!

[@MrTavis1]

Lots of lightly used gym equipment on marketplace or Craigslist.

[@foundryfinancial]

Great idea.

[@markbambach1158]

Good call on the corvette Kevin! 🏁

[@toddbarney4738]

The problem with buying a Corvette is that the accompanying investment in gold chains can break you! 😂

[@foundryfinancial]

😂

[@JohnZolla-bp7tl]

When I retired I started leasing my automobiles. I no longer have to worry about tires, batteries, or paying for any sort of general maintenance. I get a fresh new car every two or three years, and it really has improved my piece of mind. My most recent lease is a Hyundai Ioniq 5. I'll never go back to an ICE vehicle.

[@radiok2ua]

Great video--pragmatic, thought-provoking, but not formulaic. I'm a Boldin power user but also have a great partnership with my CFP and would not consider heading for retirement without him. There's just too much that I am not an expert in that he is. It's super important to me to get that part right. Same thing with my CPA. Heck, Roth conversions alone require professional help since they're a one-way door and can sting so much tax-wise if you screw them up--but if you do nothing, it's just as bad in either lost opportunity or overpaying taxes. Or both. So again, thanks for the great video!

[@foundryfinancial]

Thank you!

[@teryd5672n]

Agree regards. Gym. Whenever I get to my local gym it’s packed by people most of whom get membership discounts because they are on benefits.

[@johnbrown1851]

I've driven old used cars all my life. I have 2 old cars that are pretty dependable and if one won't start, I can get in the other one and drive away. Still, I think if one of them dies, I might get a new car that will last most, if not all of my driving career. Trying to decide between a hybrid, plug in hybrid or an electric car.

[@foundryfinancial]

I drive a used car personally, but I hated worrying that my mom’s car might break down.

[@LWRC]

Never buy a clown battery car !!! EVER!!!

[@codincoman9019]

(Self-charging) Hybrid is the best of both worlds - it is the most reliable and the lowest TCO (Total Cost of Ownership) segment according to Consumer Reports annual reliability survey. While the BEV scam clunkers are unreliable, with a huge TCO, dangerous, polluting, impractical etc. And the PHEVs are very close to BEV "qualities". I have a Lexus hybrid for more than 5-years already, with zero issues. And the cost of a new hybrid battery (the original has a 10-years/120'000 miles warranty) is being offset in around 3 years - of average driving - by the savings (fuel, brakes)!

[@LWRC]

@codincoman9019 What happens when the battery craps out? Check engine light comes on and you will be dragging your ass back to your mechanic!!! Stop the battery insanity!!!

[@codincoman9019]

@@LWRC While I agree with you on the Battery Exploding Vehicles and PHEV's huge batteries scam (dangerous, unreliable, huge TCO, impractical, polluting etc.), don't conflate the (self-charging) hybrids with them, they are quite different and their purpose makes sense: saving fuel by recovering a lot of the kinetic energy otherwise lost when braking/coasting and using the stored electricity to help you accelerate or start etc. That's why the price differential I paid for my Lexus hybrid (about 3k, but that included some extra-features vs. the similar ICE car) was offset in less than 3 years of normal driving (about 11'000 miles/year) through fuel/brake savings (plus less things to break, because they are missing a starter, alternator, belts etc.), which is a win from all points of view. The battery has a 10-year /120'000 miles warranty so your question is somehow silly, especially that the average life of such smaller hybrid battery is around 13 years / 180'000 miles). And the replacement cost is another approx. 3k, which is nothing vs. the savings you make until the battery dies. Btw, in more than 5 years I had no issues whatsoever (this car is the leader of its segment by far, in both reliability and low TCO), not even recalls. And even after that approx. 13 years (probably more, because all our cars benefit from the aggressive maintenance I am practicing) my wife will not get stranded with this hybrid, because the alert light comes early on and you have plenty of time to get to service and refurbish/change that hybrid battery. I understand your concerns regarding big batteries (I'll not buy any), but there is no downside with the self-charging hybrids, they are excellent, just like my current ICE cars: a Miata ND2 RF and a Suzuki Jimny LCV.

[@Mikevdog]

I'm getting a Mazda 3. Woot woooot!

[@2Greenlid]

Mazda 3 is no Porsche 😂😂😂 you should have invested better 😂

[@markjonz]

@@2Greenlidcongrats on the Mazda. It’s a very nice car.

[@maxflight777]

spat my coffee out Kevin !! The first thing !! *yep* an incredible home gym ? I just spent €35K and I freaking love it !

[@foundryfinancial]

That’s some gym!

[@timothylindsay3244]

Indeed. All true.

[@JobokCello]

Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.

[@donf4227]

Invest in nutritious food too. Berries, high-quality meat, eggs. (If you eat meat.) More expensive versions of various foods aren't always better for your health, but often they are. For a lot of retiring people taking a cooking class can be a great investment. A lot of Americans eat mostly ultra-processed food because they've never learned how to cook, or someone else (who may not still be around) cooked for them.

[@foundryfinancial]

That's a great one! I wish I would have added that.

[@tph122951]

My financial planner suggested a Home equity line of credit for my emergency fund. No cost to me, keeps all my funds invested, super liquid. Your thoughts?

[@berean77]

Would like to hire a financial advisor. But how do you know you can trust them?

[@RayMelville]

How about a home equity line of credit for emergency instead of tying up cash for that purpose?

[@deani2431]

Financial adviser? I got rid of mine, cashed in everything, and put it all into Tesla stock back in 2917. Best decision ever.

[@supanyc3199]

I’m 64. My daughter made me sign up for Equinox. Already own a 09 c2S which I decided to keep. To me Porsche is overrated but I’ll keep. I also have a 97 500sl and a 09cl 63amg. I never buy new. I just purchased an electric bike and having fun getting out on it. 😅 get bored easily.

[@maxflight777]

Your video is in a different league to similar content … oh and the comments here seem to be better too ! So many people like me ! Best wishes to everyone… make the most of every day.

[@EBMB21]

I invested a monthly $159.00 payment for my yoga classes to which I go 5-6 days a week. Well spent for my well being. I refuse to drive around with an old car that needs repair etc etc. I’m just not comfortable with that stuff anymore. I lease a new comfortable lots of safety features every 3 years. I don’t want to own a car.

[@AllisonSherman7]

I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.

[@timothylindsay3244]

As opposed to a Porsche (or “Porsch” SUV, sedan, farm tractor, eh?

[@timharter77]

Going to show my wife home gym is number one on the list, yes!

[@jasondoe5741]

lol a mini cooper for the irresponsible car

[@b4time718]

Got one! Lots of fun.

[@behindenemylines9033]

Considering purchasing a car for my wife but not sure how to pay for it. I've enough savings to purchase the car outright but it would be a serious dent in the account OR I could withdraw from my 457 but with tax implications. Should I split the funding 50/50 between accounts? That's what I'm leaning towards.

[@miporsche]

Luggage? Nope. At 60, my list is slightly different. Not yet retired. I own the following to be ready. I can’t buy this stuff after retirement, so I bought early. 1. Personal airplane and extensive training, 2. Motorcycles and training, 3. Land for recreation and income. 40 acres with both forest and farm land, 4. Home sound system, 5. emergency cash in savings 6. kids’ college funded, 7. mortgage paid off. Unfortunately, my wife now wants a rental home. She thinks the home will pay for itself. I’ll be working another 10 to pay that off. Ugh.

[@victropolis]

You aren’t “investing,” you are spending.

[@foundryfinancial]

Yes, you are - but it can be an investment in healthy, happiness or safety.

[@trevino37]

Invest in good shoes and sneakers to stay active and pain free.

[@Nobamaable]

I have a home gym, but it's boring so I drive to the gym every day to get out of the house... it works for me and I'm in great shape at 60.

[@foundryfinancial]

I do miss my gym sometimes.

[@fprintf]

On Purchase 3, I did this buying a Porsche two years ago. I am still employed and will be for the next few years before my retirement begins. Oh what a mistake. In the two years I've owned it, if I sell it now I will have lost $35K. That is crazy depreciation and it happens with most luxury cars. I think the leasing or renting idea is absolutely the one to do, especially as you get older you do not know what turns like has in store.

[@foundryfinancial]

That’s great feedback.

[@993mike]

It all boils down to the Porsche model you buy. I bought a 911 GT3 and those have little to no depreciation, but if you get a Taycan, Panamera or SUV model they depreciate like other cars.

[@garyharris7208]

Don’t buy a home gym, lose a bedroom for what, a gym membership with a trainer will give you the motivation plus the social interaction. I live in a hot climate so the gym is used in the winter months, pay monthly , in the warm hotter months, walking and swimming . Financial advisor forget, do your own research, keeps your mind active, spread risk and make it a hobby rather than a chore. Emergency fund essential for peace of mind. Agree on making life comfortable , especially your home and outdoor space.

[@HB-yq8gy]

I hate trying to make my grass look good because I’m too cheap 😂

[@jward8868]

There are only 5 things anyone ever needs to do - and that’s it * Eat healthily. * Exercise body. * Exercise mind. * Interact constructively . * Sleep properly.

[@samryan7954]

Were you able to outdo what Warren Buffett's Berkshire-Hathaway stock has done for me, since 1984, I might have been interested in a financial advisor.

[@ynAMe6Aj]

Investing if fitness is fantastic advice. I'd say it is the most important thing people ca do. I find a gym like the YMCA 10 times better than a home gym. I find having a scheduled workout with a good coach and lots of friends instrumental in getting complete and consistent workouts. A good class makes sure you get good balance, mobility, and progress. If you've never done a great spin class with a group of motivated people, a great coach, fantastic music, finishing with a virtual sprint race, your missing so much fun and a fantastic workout. You'll find your self among a bunch of motivated fit people who help you resist skipping classes.

[@foundryfinancial]

If you’re consistent, I absolutely agree.

[@ynAMe6Aj]

I edited the comment to commend the advise on emphasizing fitness. The Y surely isn't for everybody, and not all gyms are equal but the Y's have always been good. As full time travelers we miss the consistency and intensity of the Y. We're doing good, but not as good and we circle the topic of should we change lifestyles just to get the fitness. It is that important to us.

[@WealthyChronicle]

A home gym sounds great… until you realize you haven’t touched that treadmill in months. 😂 Anyone else struggle with consistency?!

[@micw8422]

I joined the recreation center in the next town over. They had a senior rate, 6 months or one year. It’s so close, and have many options, and would think at least 50% are like minded to socialize with. I have a treadmill and stationary cycle, but having many other specialized equipment is nice to have, and not worrying about buying or storing is a benefit.

[@susiefisch]

I need more social activities now that I’m not working, so a home gym is not for me.

[@donf4227]

I listen to a podcast or watch KZbin videos on the treadmill. If it's just work then no one will stick to it.

[@harleyb.birdwhisperer]

It’s my hour for me every day. I watch a video, and play a game, too. But I get my 5 miles on the bike, stretches and other work done - keeps me mobile and spry so I can enjoy the other 23. You have to recognize who you are working for and why. Look at the broken wrecks for motivation.

[@conniesettje1196]

Which car did your MIL buy? I also need a similar car as I am short and petite. I enjoy your videos. Thank you.

[@foundryfinancial]

She has a Buick SUV. I forget the model. We bought my mom a VW Tiguan. She loves it.

[@EBMB21]

@@foundryfinancialI just leased my 4th Tiguan. I love this mid size SUV. It has lots of safety features which makes me feel more safe.

[@RetrieverTrainingAlone]

Home gym would be too boring for me. Also a home gym can occupy a bedroom and rarely gets used, or only used 3 hours per week... We live in Montana and I cross country ski in the winter and canoe/bike/backpack in the summer. No such thing as bad weather only bad clothes! Great luggage for us is a good backpack and a good waterproof river bag! Invest in home fall prevention such as traction strips on the deck, bannisters on all outside steps, hold bars in shower, etc. As we age, the consequence of a fall become worse.

[@davidquinn6776]

What about a good bicycle or e bike? I have had sports cars and nothing beats the freedom of a bike ride, its health and environment benefits are great…sounds like you are imbedded deep in the US car culture. Yes, one can ride well into their 80s.

[@ziptiefighter]

The gym and the car...haha. A giant hell no. My gym is my garden, and the open road or trails (cycling). The financial advisor is a hell yeah. I did that from the git go three decades ago. Know your limitations.

[@foundryfinancial]

Ultimately if you stay active - that’s what matters.

[@husseinabd6937]

How can I find a good fiduciary Financial Planner

[@wendykornfein3337]

One other item would be to invest in a high-quality bed.

[@maxflight777]

Bought a Tesla ! 0-60 in 3.8s costs €50 a month to fuel and no servicing costs ever.

[@993mike]

Depreciation on those is a killer though, just like all EV’s.

[@kingrhs1]

Home Theatre

[@michaelbender1226]

Could be said in two minutes

[@matthewowcarz8259]

For a diy investor, is there an age that you'd recommend touching base with a financial advisor?

[@foundryfinancial]

Immediately. And then again a year out from retirement.

[@matthewowcarz8259]

@foundryfinancial thanks Kevin! I'll get on it!

[@foundryfinancial]

I think you want to figure out how to structure stuff as soon as possible to help prepare for the future and then a plan as you get close.

[@matthewowcarz8259]

@foundryfinancial I appreciate your responses. Thank you. Missed your video last Saturday, hope your holiday weekend was relaxing.

[@Adamoda14]

He’s telling you that you want a Lexus as the forever daily.