6 BIG Purchases Retirees (Almost) Always Regret!

[@camille_ann3]

I’d be retiring or working less in 5 years, and curious to know how best people split their pay, how much of it goes into savings, spendings or investments, I earn around $175k per year but nothing to show for it yet.

[@williamJohnsonq8f]

money advice is subjective, what works for you may not work for me. I would suggest getting rid of any unnecessary purchases, especially things that cost you monthly, or better still consider financial advisory.

[@Joeknowsball247]

Agreed, I'm quite lucky exposed to finance at early age, started full time job at 19, purchased first home 28. Going forward, got laid off 36 amid covid-outbreak and at once consulted an advisor. As of today, I'm barely 10% short of $1m after 100s of thousands invested.

[@AaronTilt]

I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?

[@Joeknowsball247]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.

[@cashflow68]

Im your typical millionaire next door. T shirts & jeans from Walmart. Still driving my 2009 Honda Civic. No debt. I love living under the radar. ALL dough, No show.

[@HolySchmidt]

Nice work

[@stanfede5022]

And don't forget to add boat to that list. Great way to go through tons of cash!

[@Pieter2360]

Same here 😂

[@cashflow68]

@@HolySchmidt thank you. Often times my friends would ask me if Im doing ok. I just tell them, I’m hanging in there.

[@brianmclean7576]

Congrats for living beneath your means - some live so frugally that they forget why they saved - so they can spend as well

[@susanne9602]

Do NOT move to be closer to your grown children and grandchildren unless it is a location where YOU would choose to live even if you had no family there. Your grown children are still working and will probably move for job relocations....and there you are stuck in place you would have never imagined living alone.

[@acer4237]

100 agree and when they no longer need a baby sitter they may grow more distant and not visit and grandkids will follow their lead. Had a friend sell her house, they said they’d buy her one…they end up going thru divorce, she gave them loans that they’d pay back once that big check for biz deal fell thru but now the ex daughter in law went with that promise (it was her check). So now few years from retirement she lives In an apt with a roommate and had to get full time job and start over. 😢

[@wuffos]

1. Expensive car 4:30 2. Bigger home 5:30 3. Lavish vacations 6:34 4. Expensive gifts 7:30 5. Regular cash gifts to family 8:34 6. Vacation home 9:05

[@majordelays4909]

I see no regrets about hookers

[@project.jericho]

Thank you... This guy is milking the hell out of watched minutes.

[@davem6685]

Thanks. 10 minute video that should be 5.

[@annieo9468]

THANK-YOU wuffos. That was SO long winded, I only JUST made it to the expensive car.

[@dutube99]

7. spending too much time on youtube?

[@francesgrumblatt3420]

Now I’m 100, my plan is to go on being grateful for life with loving family, mobility and general good health🤗

[@hsiehkanusea]

Nothing better than a person hitting 100. Except hitting 200, and 300. Keep it up -- way to go. :)

[@cindifischer6919]

That's great. Some people cruise along in life and then there's other people that suffer with medical issues. You just never know when he's going to take your hand.

[@willgaukler8979]

,,, your tealth IS your wealth ...

[@pagosabob10]

Hope your first 100 years were well spent and enjoyed.

[@pagosabob10]

@@cindifischer6919 True, but plan on living a long time and take care of health.

[@hushbash2989]

I'm not particularly startled by this. Things have changed. The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. I wouldn't have been able to do it otherwise.

[@selenajack2036]

Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.

[@roddywoods8130]

Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.

[@bsetdays6784]

I think I want to try out a financial advisor, but the amount of information on the internet is overwhelming. Could recommend any good one(s)?

[@roddywoods8130]

’Marisol Cordova’ is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@kaylawood9053]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@goldgeologist5320]

1) High end car 2) Bigger house 3) Dream vacations 4) Giving expensive gifts 5) Giving cash gifts 6) Vacation home. My additions 7) Boat 8) Plane 9) Motorcycle 10) Cosmetic surgery Saved you some time

[@joetatoesniff9525]

I want the plastic surgery

[@ht1261]

I suggest retirees should get whatever their heart desires within their means 😊

[@gabydiehl8314]

Much appreciated!

[@curlyb4c95]

THANKS!!😊

[@suecrane1999]

Also an RV

[@bahijarhafiri]

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

[@GhanYt]

That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?

[@maryspiller612]

​@@GhanYt😅

[@NicholasBall130]

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[@StacieBMui]

I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.

[@cowell621]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@StocksWolf752]

I’ve been worried sick about the current state of my portfolio, who is your advisor?

[@cowell621]

Finding financial advisors like Sonya Lee Mitchell who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@BateserJoanne]

Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.

[@tompekarna]

As a grief purchase when my wife died from pancreatic cancer after retirement i purchased a Porsche. Costly, but every time i get in it to drive my spirits are lifted and it has been 10 years since i bought it. NO REGRETS!

[@rc666]

So right.

[@actionfaction2558]

Good to know, as I am thinking of buying a sports car…, and feeling wispy about it. Like I don’t want to spend the money, but in a way…, I feel the value of money is eroding so fast…, it might be beneficial to have a tangible object.

[@keefr128]

@@actionfaction2558If you want a car that drives like a sports car but is practical and reliable, check out the Mazda 3 Turbo. 0-60 under 6 seconds, handles like it's on rails, fun to own and won't break the bank. Not as conspicuous or flashy as a traditional sports car.

[@gregwheatfill4700]

Enjoy your Porsche I had a chance to buy a 2000 Boxster every time I drive it makes me happy I worked 34 yrs for a utility co I have no debt I do have a mortgage after my divorce I decided to get what I wanted I payed cash for the car it has 69k on it drives like new bought it from a friend in the Porsche Club if you want one check the adds on the club website most owners are meticulous.

[@mickeyhoward3851]

Get a 6 cylinder Porsche Cayman. My brother got a Boxster, so of course I had to match him!

[@KarenNesbitChaudhry]

I used to agree with a lot of this and then I got cancer at 50. Post treatment now and starting to check a few things off my bucket list. Also drive a luxury car and enjoy every minute of it. Some folks spend their lives saving for a day that never comes.

[@fyourfeelings8966]

ah KC - I often wish I knew my termination date so I could spend every penny before that lulz. I have no heirs. You go girl. I see a Tesla in my future.

[@redbaron6805]

That is the point many people miss. People work and save for decades, thinking they will spend it and enjoy it in retirement, only to realize they don't have the health or even make it to retirement. A story stuck with me from years ago. A really nice guy I worked with which was older and had worked for the company I worked for at the time for 30 to 40 years already (I only lasted about 3 years), we would talk about things in our downtime. He had a sister in law that lived in Ohio. She worked in a factory, had been working at the factory for like 26 years, hated every single minute of it. So, he asked her, why do you do it? Why do you work in a job you hate? She said, because I'll get great retirement when I retire after 30 years. Only got 4 more years to go. Well, she had just passed away. Never made it to the 30 year retirement age. So, I think there is a lesson there to also remember to enjoy life while you can. Nothing wrong with retirement planning, but many people will never get there. Some that do really struggle to fill all that time, and with no coworkers to hang out with and few friends, never end up enjoying retirement. So, plan for retirement but also remember to enjoy life. No one knows how much time we have, and no one knows if we will ever get there.

[@MarioSpeedwaggen]

Praying for your health.

[@drott150]

Bingo KC! I'm doing the same. This nonsensical "plan like you'll live to 100" (the plaque on his desk) is absurd. At some point you have to start spending what you saved. And usually, it's a lot sooner than you think. God bless you and good luck!

[@caseyhill3633]

Hi K C, I am an anti inflammatory specialist. The Pro Resolution Response system cut offs and resolves inflammation that drives cancer while activating the AMPK enzyme to clear the senescent cells that pump out inflammation and heal the damage tissue caused by the cancer and/or treatment. Basically, a good diet to Reduce inflammation, High Dose, High Grade EPA/DHA to Resolve inflammation and lots of polyphenols, preferably Maqui Extract to generate AMPK.

[@texasaggie8449]

I/we were on this path. Then she divorced me. Now I’m 63 and will most likely work until I’m 70. I count my blessings and am thankful. My 2013 Jeep has 210k miles and I don’t want or need another vehicle. My job provides a vehicle. My 1800 sqft home is about half paid for but I’ll get there. Never give up and always give thanks to the Lord. 🙏🏻

[@donhill376]

Actually, the one thing that turned out well for me was : we wanted to buy a travel trailer. We were very close to buying one and the deal went sour, so after that we stayed in hotels. What we missed was aging, having to hook unhook, driving a much larger rig and changing lanes in a distant city. Do the math, how many days, weeks can you stay in a hotel for the price of a travel trailer with much less hassle.

[@MarkShinnick]

Exactly... Simple math with time, money, effort.

[@joniboulware1436]

It is apples and oranges taking a road trip and staying in hotels vs camping. There are no hotels where many travel trailers can go. So it comes down to what you want to do and what it takes to make it happen. You could sleep for free in your car and I know people who travel that way. Cheaper than hotels but not appealing to most.

[@dingfeldersmurfalot4560]

With a travel trailer or RV or well-equipped van, you can stay for weeks at a time on national forest lands for free ... then move 30 miles away and stay for free again. And you don't have to be in a noisy hotel with bedbugs you'll take home, either. You can do that for years or the rest of your (capable) life. It really depends on your circumstances and what you want. And you can have a hybrid life. My folks sold their house then bought an RV and traveled all through the west searching for a spot that appealed to them. When they found one, they bought a house and still used the RV to travel, then sold it after many years.

[@jtidema]

I've always stayed in hotels. The reason I want an RV now that I'm older is that I am sick of packing and unpacking, worrying about whether the room will really be clean, whether the hotel will REALLY accept dogs, whether the dog will behave, whatever. I love the idea of being in my own 'room' every night... but I understand that it's not that simple.

[@thevagabondonwheels4918]

@@jtidema Not to mention that you have a real kitchen and can not only eat healthier food that you make yourself (or buy in a grocery store), you also save a LOT of money on overall food expenses not eating out nearly as often. As we get older, we also tend to have orthopedic problems that can be exacerbated by sleeping in some hotel beds, and the hotels that actually have great mattresses also tend to be $$$. In an RV, you sleep in your own bed (after you replace the crap mattress most RVs come with anyway). You can also more readily can travel with modest exercise equipment and are more likely to do more outdoorsy stuff (i.e., more exercise) than you would staying in hotels also.

[@tonysilke]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@JefferyDuns]

I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@youngblood2]

Sell your house and rent something like a patio house. You can thank me later. I'm 66 and that's what my wife and I did. Freedom at last... freedom at last!!

[@Fearless-wi4ng]

@@youngblood2 This is what we are considering right now. House paid for but it is a big pile of money we can’t access. Trying to convince husband.

[@Aron-r3m]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio

[@Garrett-lo6pu]

The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@Muller-o4d]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@Mosley-vu7ff]

Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@Muller-o4d]

‘’Jenienne Miniter Fagan’’ is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment

[@Tetsu-p3g]

Thank you for this amazing tip. I just looked up Jenienne, wrote her explaining my financial market goals and scheduled a call

[@esther.74]

Ultimately, it's essential to make thoughtful and informed decisions, keeping in mind personal financial goals, priorities, and long-term stability. I'd be retiring or working less in 5 years, and I'm curious how others split their pay, how much goes into savings, shopping, or investing; I earn roughly $250K per year but have nothing to show for it.

[@Adukwulukman859]

You can invest some of your earnings in stocks with market-beating returns and shares that at the very least keep up with the market over the long term. I urge that you seek the advice of a broker or financial counselor for a successful long-term investment.

[@ThomasHeintz]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@talented009]

@@ThomasHeintz wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.

[@JohnMoore1641]

@@ThomasHeintz Thank you for this tip. it was easy to find your investment advisor. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@captainkrunch6372]

​@@ThomasHeintzscammer

[@Riggsnic_co]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[@bob.weaver72]

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

[@martingiavarini]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000

[@TheJackCain-84]

Mind if I ask you to recommend this particular coach you using their service?

[@martingiavarini]

'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@TheJackCain-84]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@Farmwald853]

Investing in the stock market has HISTORICALLY provided higher returns than other forms of investment. According to Morningstar, the average annual return for the S&P 500 index, which measures the performance of 500 large-cap stocks, was approximately 10% from 1926 to 2022.

[@LagerthaJackson]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

[@AustinButler-kd4ny]

@@SallyW414 please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@brendasnow8255]

That is correct. We invested in both individual stocks and Vanguard stock funds from our 30s. That has paid off beautifully. I’ll say, too, that we didn’t buy luxury cars, bought houses we liked, but were never “house poor,” because we didn’t overspend on them. We traveled, we bought books and had magazine subscriptions, attended plays and concerts. We have enjoyed life and we will not run out of money.

[@aceopinions]

You are correct. I have been a CPA for 40 years. Much depends on your assets and individual situation, but your best long term investment is the broad based market - such as index funds and perhaps a few individual stocks. Some investment advisors that tell you they select stocks to beat the S&P. by selecting individual stocks.or sectors.. maybe for a year or two...but over time this has never been done consistently. Anyone that pitches that idea to you - run the other way.

[@AustinButler-kd4ny]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@dgriffin6074]

A non expense related comment, I can personally attest to: if you relocate to another house, strongly consider a single story abode. Stairs may pose no challenge when one is young and spry, but will be at a certain age.

[@67daltonknox]

I have lived in a 2 story house for 34 years. Now 75, would I trade for a 1 story? Not on your life. I only use the upstairs bathroom and thanks to my prostate, I get half my day's exercise on those stairs.

[@listenwatchandwait]

Single story houses are easier and cheaper to repair - no scaffolding etc.

[@larryjones9773]

@@67daltonknox I'm 62 and getting ready to move. I wanted a single story, but I now think I'll look for a two story, so I, like you, can get some exercise on the stairs. My current home is two story and my office is upstairs. I go up and down numerous times during the day, and like you, it is the majority of my exercise. If I can't make it up the stairs, someday, I'll do what I did for my mom, and add a chair lift to my stairs. p.s. An hour ago, I found a home I liked online. It's two story with an office style elevator. That's the first time I've seen an office style elevator, in a home. It would, however, be kind of scary getting stuck in a home elevator. I worked in offices with elevators and I'd always get nervous should the elevator break down while I was on it with a bunch of other coworkers. I'm claustrophobic. Some coworkers did get stuck in the elevators a few times. Offices are set up for emergency response teams, while response to an individual home would probably take much longer. The only good thing about getting stuck in an elevator, in a home, is that it wouldn't be crowded with other coworkers. I guess a person could just lay on the floor and sleep until the emergency people arrive. I think I'll look for a home without an office style elevator, and avoid getting trapped, altogether.

[@carolemalezija1816]

We LOVE our single story home with a finished basement. Loving life!

[@FightingForFacts7074]

Indeed! I have a one-story condo, but still have a basement. The only times I’ve had actual mishaps in my home have been on the stairs! Once, my knee went out and I fell forward, and once, my bicycle veered as I guided it down the stairs to store it. The first resulted in a broken clavicle, and the second, some bruising. In a conflict, the stairs will dominate.

[@ootenyafoo6935]

I'm in my 60's and have been retired for over 8 years now on a state pension and SS. I've never had more disposable income than I have now. My wife and I live very frugally - not out of necessity, but because we learned early not to be seduced by our nefarious consumer culture. At this stage in one's life, you have the opportunity to assess your life and take advantage of your time to contemplate the silliness of most of society's activities. I thinks its best to be able to learn to live mostly a solitary life, free from the BS of trying to impress other people ( who are mostly trying to impress others too) and concentrate on developing an understanding of yourself - which will take the rest of you life. Have a great day!

[@paulfoytack5267]

Wise words

[@ca9777]

Thanks Good comment!

[@glumberty1]

I think it's fair to assume that you enjoyed your life before retirement. That's why you aren't trying to make up for slaving away at a job you hated for most your life.

[@jimschuman9926]

BINGO!

[@ilikecontent2327]

Well said! And advice many of us should follow. 😊

[@pwu8194]

One of my biggest mistakes was building a swimming pool. When I saw a friend's pool looking nice and great for the summer, I decided to have one, and a big one too. I spent $60,000 on the pool, but that's just the beginning. 😂 Unless you have an indoor pool, the pool gets dirty every day. Leaves from trees need to be taken out, pool needs to be cleaned, pump needs to be running, filter needs to be cleaned or changed. So, on top of that $60,000, you have an additional $2400 a year on maintenance. Then you can only use the pool between May and September unless you have a heated pool. A pool that's sitting idle still needs to be cleaned. After I sold my last house that I had a pool put in, I don't even want to buy a house with a pool. Driving to a gym is a lot less work and expenses.

[@FreeAmericanUSA]

A nice hot tub is a better choice for many.

[@rjmosko]

I would agree on the pool being a mistake. Another mistake would be buying a boat- along the same lines. I have lived in my house 31 years and it originally had a nice big swimming pool. I live in California so the pool season is about 6 months and it had solar heating as well. About 8 years into living with a pool (for the first time), I realized the pool was going to be a money and time pit for me. We have a coral tree that would drop leaves and plug the skimmer filters and it took about 15 minutes each time I wanted to use the pool to get all the ants and bugs off the surface. The pool was designed so it could not host a cover so the leaves were going to be a large pain. I found myself working on the pool more than using it actually. The pool was 20 years old and needed a new plaster and rod iron fencing and lots of other work. I had a choice if spending another 10k fixing the pool or simply taking it out and doing something else. My kids were very young at this time and I realized I had a once in a life time opportunity. I decided it was time to 'kill' the pool and relandscape the backyard- that was the best financial decision I made! It was hard finding a pool demo outfit but I did and you would never know we ever had a pool. I hear it's easier to find pool demo people now and shudder when I see neighbors putting in pools during the Pandemic- yikes!

[@unicorn12345]

My brother has a nice pool, and apart from the very first time I visited, I’ve never seen anyone in it.

[@a.stewart2641]

​@@unicorn12345lol😂😂

[@pbohearn]

@@rjmosko so you “killed “the pool and your young children never had the opportunity to enjoy the many summer months in that pool because you didn’t like the hassle of it because of your coral tree. Why didn’t you just kill the coral tree and then you wouldn’t have all the droppings in the pool? you could also get a custom-made cover. It sounds like you didn’t want to get off your lazy ass and maintain the pool, and it is maintenance just like a dog is, but again your children lost that joyful opportunity. I didn’t have a pool growing up and I felt so happy when I was invited to my neighbors to enjoy their pool at times but in the heat of the San Fernando Valley summer, it sucked not having a pool. I put in a swim spa in my little backyard in Long Beach. It didn’t even have to meet city requirements for easement because it was considered portable, even though it had to be put in with a crane, it was about 18 x 14‘. it had very powerful jets and you could swim against them. You could run against it you could row against it you could do water weights in it you could do stretching. that thing became my gym and it was the one of the best things I ever did because I never had an excuse not to exercise, you could heat it up in the winter and pay the gas bill (I got solar panels at this time), and then you can stop the heating it in the summer and have a nice cool pool to jump into when the days were hot. Damn, I loved that pool and I want another one. It wasn’t a pool. It was an exercise swim spa. It had a social area on one side where you sat in the scalloped seats with bubbles came up From your seat, causing a nice tingling, and adjustable jets on your back neck, etc.. and on the other side,where the powerful jets were, you could exercise. this thing had LED lighting with many different options, and even a waterfall; was Beautiful!

[@oneiljerry9460]

The investment you choose isn't right or wrong, just depends on the kind of business person you are or simply the kind of person you are. However, the end game is investing money long term creates wealth every time. Just pick what you like and understand, invest and it will pay off. A lifetime of investing for 5 mil is not hard to accrue.

[@alexyoung3126]

But experts and strategists are telling us that those who believe the market will still bounce back are simply delusional - and they are about to get a reality check.

[@joesphcu8975]

@@alexyoung3126 I agree. Based on firsthand encounter with one ‘’EILEEN RUTH SPARKS’’ now i have 55k in a well diversified portfolio which has grown by 3x in the past 7 months with compounding, venturing doesn’t necessarily boil down to money but you also have to be informed, be patient and back it up with good hands

[@lawerencemiller9720]

@@joesphcu8975 I'm 49 and have decided I'm going to try and put 60% of my pay check into the market . How do i reckon with Sharon, whats her services like, do you think she can help me out ? I'm from Australia

[@joesphcu8975]

EILEEN covers things like investment, insurance, making sure retirement is well funded, Go over tax advantages , ways to have a volatility buffer for investment risk. many things like that . Just glance her full name up on the internet .she's well renowned and has quite a following. So it shouldn't be a hassle finding her.

[@carlodefalco7930]

@@lawerencemiller9720 if you’re in Australia, have you heard of “ the barefoot investor “ Scott pape . Go to library or buy his book , very practical, not trying to sell you anything , great advice on how much you need to retire , info on how to create financial plan .. I have no affiliation with him or get any kickbacks for mentioning him

[@JRRodriguez-nu7po]

Worst thing to purchase as an old man with lots of money: a young wife. I'm keeping mine of 44 years despite all the wear and tear.

[@RetiredLover]

A good sense of humor is invaluable. She is probably thinking the same thing.

[@ja9293]

[@lvc394]

Don't get involved with a "TIME SHARE". It is a waste of money and a scam. If you want to take a vacation, pay for it, don't tie up your money in one or a few places that in some cases are not as nice as a vacation spot.

[@chuckinhouston9952]

Great advice!

[@darbyheavey406]

There is an inverse relationship between wealth & owning a time share.

[@lvc394]

@@darbyheavey406 Unless there is some kind of Krazy tax writeoff I don't know about :)

[@timkothavala6558]

Worst investment(?) ever.......or at least right up there.

[@glennet9613]

We were skiing at Whistler and a sales person approached us and offered a $100 credit each on our pass if we attended a promotion on timeshare. So we attended and said we weren’t interested - so you can make a profit on timeshare, in our case $200.

[@nyreggie-isb23]

You can retire at a young age if you invest wisely on time, Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest.

[@markconley3877]

Quite funny how some people declare themselves failures before they even try. That's what happens when you let fear stop you from what has the capacity to change your life.

[@nyreggie-isb23]

@Peter Moore That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my consultant. I found him on a CNBC interview where he was featured and reached out to him afterwards. He has since provide entry and exit points on the securities I focus on. I basically follow his trade pattern and haven’t regretted doing so.

[@zombie15ish]

@@susanhaynes679 This is the Fourth time I'm seeing someone talking about Mr Gary as there are lot of testimonies about him, do you know him ? if yes , did you invest with him…?

[@susanhaynes679]

@@zombie15ish Yes i do, I've known him for couple of years, I'm still using his services, His management team is quite impressive so far. With my $15,000 deposit, I made over $288,000 profit with just 10% charge.

[@nyreggie-isb23]

@Peter Moore It's 100% safe,I basically do nothing but collect profits, he was able to get me in early on most of these stocks and I exited just at the right time, his analysis was really on point.

[@spivvo]

Three years into my retirement and I have just put my second home in the French alps on the market. I bought it in my 40s after meeting a retired man who spent his winters in tbe alps and thought “that is what I want to do when I am his age”. What I didn’t forsee was that I would move my primary residence from urban London to beautiful sprawling countryside and love it so much that the appeal of ‘escaping’ the city to my French alpine bolthole has totally vanished. I’d add that paying bills for a property that I we barely use does not sit well with retirement. I’d recommend ensuring that your primary residence is in a place that you want to retire to and not buy a second home…. then invest the money you would have spent into income generating investments.

[@kcender3771]

70 now and everything paid for. Everything you mentioned, I had considered after retiring, but didn't do. Fortunately, I had a college economics teacher that taught me a lesson at 18. That lesson was: for every purchase you make, you can't buy something else. Varied sources of income is wise and especially living within your means. Think about taxes and how you get your income. I made $72k combined net last year and paid no Federal taxes. I own a 23 y/o vehicle because that's all I need and I like it well enough and I can do anything I want to. My net worth is $2M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.

[@flowersfrom7311]

You live a good life!

[@HolySchmidt]

Well done

[@cashflow68]

You have been blessed. I’m in your financial situation but about 4 yrs younger. My wife and I are a lot more focused than ever before when it comes to our health. We are eating more organic grown foods and staying away from processed junk food. Time on this earth is dwindling down and can’t be replenished. The choice we make in what we eat and physically do will hopefully extend us a few more years. I like to enjoy our last remaining years relatively healthy & mentally free.

[@felixt1470]

And you plan to take the money with you when you pass?

[@cashflow68]

@@felixt1470 whatever is left goes to my children and charities

[@scroungasworkshop4663]

There’s lots of people out there to tell you how and when to retire but we all have life experiences that can help too. My grandfather passed away at 52 from a heart attack but when my father passed away at 62 it really shook me. He didn’t get to retire. I worked as a bus driver for 23 years and the a supervisor in the depot for another 10 so I saw a lot of people retire or die. From time to time a retired driver would come in and I would always ask them the same questions: do you wish you had retired earlier and do you have enough money. I think every one of them said yes to retiring earlier, especially the ones that worked to 65 or older and all but one said they had enough money. The one that didn’t have enough money took half his pension as a lump sum and spent it and was trying to live on the rest. This helped guide my retirement plans and I retired at 54 completely debt free and money in the bank and I love it. Yes it took sacrifices but none I regret making as getting that mortgage paid off was such a good feeling. I also tried to make it cheaper for me to retire so we installed a large rainwater tank that feeds our washing machine, toilets and all outside water use. We had solar power installed which also had a generous rebate attached so we make enough from that to cover our other utility bills. We had double glazing installed as we have cold winters and hot summers. Properly insulating our walls which in some cases meant removing the dry wall to do it but I was able to do that and finally we added solar hot water. Most of this was done after we were debt free but while I was still working. Other things I learned, don’t blindly trust anyone with your savings or investments. A lot of financial planners tell people they need a lot more money in retirement than they really need, why? Because the more money you have invested through their plans the bigger their cut of your money. You need a plan of what you actually want to DO when you retire. I heard guys saying how much golf they were going to play. That’s fine, but play everyday for the rest of your life? “I’m going to travel” is not a plan. Travel to where? How often? What will it cost? If you’re a home body why will that change when you retire. Ignore retirement planners as they try to write them to suit everybody, better to look at what you do now and what you realistically want to do in retirement and work it out yourself. Money doesn’t buy happiness it buys freedom. Freedom to choose what you do and how you do it.

[@DrSchor]

You contradict yourself: Money buys Freedom. Freedom provides happiness. Therefore it follows, as the night follows the day, that money does buy happiness.

[@scroungasworkshop4663]

@@DrSchor Maybe, or maybe you’re just extrapolating. People die in car crashes, therefore if I buy a car I’ll die in a car crash. Also there a plenty of miserable rich people in the world, it’s just that being rich makes misery easier to tolerate. 😂😂😂

[@jpatrickmoore5158]

I managed a 55+ development for a number of years. There were guys who golfed every day unless it was frozen. There's no bad weather, just bad clothes.

[@scroungasworkshop4663]

@@jpatrickmoore5158 😂😂😂

[@evierun240]

@@DrSchor ii

[@cherylsalmon8429]

Excellent summary. The one thing I would add to NOT invest in is a "timeshare" apartment. My mother bought one of these in the Canaries . The cost of the "maintenance", membership fees etc went up every year as did the price of flights. In the end my mother refused to pay the ongoing costs as she felt it was a con that the company charged others to use "her" week but she didn't get any of that. In the end the company "repossessed" it, so what she paid for it was lost. If you're ever tempted, look at the cost of a week+ maintenance charges, then multiply that by 52 - that will be the money the timeshare resort is making from it . ..

[@Chainyanker007]

Never buy a time share, Just get a hotel or rent a house.

[@Jeffiekins]

An easy way to tell how much something is *_really_* worth is to find out how much you could sell it for. A house? About 95% A used car? About 90% A new car? About 80% Gold jewelry? About 50% A diamond ring? About 20% A timeshare? 10% to 0. Literally, it's difficult to give most away: you can't find someone willing to take up the payments, insurance and fees.

[@TaylorCanada8]

100% agree on this point. Biggest mistake we made pre-retirement and we actually had to pay to get out of it. We have now sold our home in Canada as well as everything we own and retired in Spain where the standard of living is high, the cost of living is low and the ease of travelling around Europe economically is amazing. Life is good.

[@Agapy8888]

Never get one Went to the breakfast and ate the food and just walked away.

[@fiddlejohn9305]

I was fortunate to have parents who spent and saved wisely and also fortunate that they passed those habits on to me from an early age. The only significant financial mistake I think they made was buying a couple weeks timeshare. When my parents both passed away I was the executor and the biggest hassle by far was unloading the timeshare. None of the grandkids were interested in receiving it because the annual fees were more than the cost of a nice hotel or AirBnb, there was zero market for selling the shares, and the cost of legal fees to turn the title back to the timeshare company was about $1500. Also, I had all the affairs of their estate finished, but the incompetence of the timeshare company extended closing out my parents affairs by six months.

[@pensacola321]

We worked, sacrificed and saved for years. Now we are retired with a lot of money. We are still careful, but we spend freely and try to help others. Don't be stupid, but do enjoy your money in retirement.

[@Hazwaste63]

Helps when your spouse and you are on the same page. I think I'm fortunate in that respect.

[@your_royal_highness]

I have found as a retirement planner that all of my clients do not overspend. They do the opposite in fact. They actually underspend. The habits they accrued in life absolutely spill over in retirement. I have told most of my clients to spend more. Happiness in life, not just in retirement is really about the quality of your life and that mostly entails interpersonal relationships. Buying experiences like that great trip is another big component of happiness in retirement so I encourage it. We budget for it. To give an example of how people react to my encouragement to spend more was from a widowed lady in her mid 60’s. She told a friend who was also a client that I had suggested she spend more. What did she do? She bought a new couch. I have told several clients that I am available for adoption if they do not want to spend. I do agree with NOT giving cash or other expensive gifts unless they are certain to be able to afford it.

[@MrDuncl]

My Mother told a financial planner that her ambition was to buy a new stair carpet. Unfortunately due to circumstances like needing a stairlift a couple of years later she never go around to getting her new carpet despite having enough money to buy it 500 times over. I hope you client enjoys her couch. Furniture was one thing my parents didn't scrimp on.

[@your_royal_highness]

@@MrDuncl me it’s cars. Good news is I can afford it.

[@johnpro2847]

indeed ..a friend left a fortune for her daughter to spend after she passed.Problem is, you do not know the time or the date.

[@marinazagrai1623]

nrs...we are creatures of habit in the end. We spend our working life being somewhat frugal, we cannot change just because we are retired.

[@your_royal_highness]

@@marinazagrai1623 of course!

[@keithpanco]

Our only bill approaching retirement was our mortgage. We planned to pay it off before retirement, and did. We have a nice home, 3 cars, and no debts. Living debt-free is the most liberating feeling anyone can experience.

[@jeffm8206]

If I may ask, did you use 401k or pension monies to pay off mortgage? That was my original plan when I retired but I'm getting some advice to not do that and leave that money alone. I'm like you, having no mortgage or other dept will lower my blood pressure in half.

[@MBergyman]

@@jeffm8206 If you have the money in an account that is earning better than the APR on your loan, why are you worried? Just curious.

[@TheKitchenTechnician]

Property taxes will chase you to the grave though.

[@someoneelse9059]

Nailed it... I have been debt free for over 20 years now, I have been planning for my retirement for about the last 5... Kicking goals with all of it, Im looking forward to retirement in a few more years.

[@jeffm8206]

@@MBergyman As you know, ROI these days is pretty bad. It's more of a peace of mind thing to me and the monthly mortgage I've been paying will then be extra expendable cash each month. I do hate the idea of paying the taxes on it though. Thanks for your input.

[@bobbymainz1160]

Warren Buffett has mastered what patience looks like. He has stuck to the markets, having a long term view on the markets. This is what I'm struggling to do, trying to learn how to not react to market news about inflation and all. I have currently set aside about $253k to put in the market now that prices are down. Any ideas?

[@stephaniestella213]

It takes some gut to really remain in the market despite downturns and all. So just find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.

[@kimyoung8414]

@Zahair O'Brian This is something I've been planning to do for a while now. My portfolio has been falling, and I'm scared, but I know the market always recovers. I wonder if I've been on the right stocks. How do I get in touch with your advisor?

[@oneiljerry9460]

@Zahair O'Brian Thank you. I was able to find her and send her an email message. I hope she gets back to me soon.

[@eringodog]

I do feel now& have always felt that my health is my greatest wealth/ thanks mom&dad

[@kjquinn7856]

An important consideration after retirement is car-related. I used to commute roughly 40 miles per day round trip, five days a week. In retirement, I drive a lot less, so the car I had at retirement six years ago is still going strong because I don't drive as much. Each time I think of replacing the now-12 year old car, I ask how much will I enjoy the new car compared to having the money in the bank. The new car never wins that argument! Secondly, while travel can be expensive, there are ways to economize. But the important lesson is that as you age, you don't have as much energy or ability, so travel when you are younger so you can enjoy it more.

[@67daltonknox]

I have a 28 year old car, a 22 year old pickup and an 18 year old motorcycle. These things are expensive. Trading every few years is a waste of money. It does require buying reliable vehicles (Toyota/Lexus or Honda) and it helps to do your own maintenance.

[@markplenke]

I live in a city and drive very little. I plan to sell my 10-year-old car this summer and not buy another. Where I can’t walk, bus or Uber/Lyft, I can rent a car for what I’m paying now in insurance, maintenance and fuel. I think more people should do the math on car ownership.

[@wudgee]

Retired and got a bigger house. It’s terrific, I have a room for my hobbies and space around the house so I don’t have nuisance neighbours anymore. Upsizing has made us live the dream.

[@VerissimusAurelius]

I was an airline pilot and lived a comfortable life… At age 40 I started flying the wealthiest people on the planet (in their private Gulfstream jets) including Jack Ma (Alibaba) in Hong Kong, I am retired now, and the one thing I learned from billionaires: time is precious. I can’t tell you how many people with unlimited money are miserable when it rains or things aren’t going the way they like it… Because they can’t control it. Personally, I have become a minimalist… And always consider how much time it will take me to take care of that boat or second home… And I drive a car that I can afford. My life is simple. Granted I was able to fly all over the world and see almost everything that most people would want to see… But except for one guy who really stood out… I wouldn’t trade places with any of the billionaires.

[@TermiteVideo]

Interesting. I have always thought that the World’s wealthiest people are the most controlling and insecure. I wouldn’t want that life either. I just worry that they want to control my life!

[@terryscott4132]

really interest in the one guy, and what made him stand out from his peers.....

[@MrGus.1]

I, too, flew the rich and famous on fractional jets. The rich and famous are just like the rest of society: some happy, some not so happy. It isn't the money, or the fame. It is the character of the person. Invest in building your character.

[@VerissimusAurelius]

He was into having fun and took all his friends with them, including his pilots… We went to Americas cup… On the Red Sea snorkeling with bubble-less air tanks… He was like a little kid in a candy store@@terryscott4132

[@Dkriedt]

Great comment

[@kimmer6]

I sold off some commercial properties in NorCal a few years ago and retired. Some were owned for 30+ years. My son made up a list of things that I should buy after he got wind of the amounts of money that came after escrow closed. He wanted a custom Ford F-650 diesel pickup truck that needed an extension ladder to get into. I bought him an electric bicycle instead. After selling one property, I considered buying a very nicely restored Mustang in Texas. The owner was very meticulous and spent lavish amounts on making it like new in every way. It even had a fully restored spare engine in a crate that came with the sale. Owning a Mustang was a dream of mine since I was a little kid. But, reality hit me and I knew in my heart that buying it would not be a wise decision. I bought myself a retirement gift instead.... a Henry Big Boy lever action cowboy rifle with brass receiver to hang above my fireplace. I posed with it for pictures and never shot it even once. I don't even have ammo for it, but it surely looks nice sitting up there. I drink my morning coffee and look at it collecting dust. It'[s a daily reminder of my easy life now after retirement. I enjoy retirement, take 2 day short vacation trips, and half the time never bother to see what I just paid for groceries. It's nice to have no debts, no mortgages, few bills, a few extra bucks and decent health at age 70. I wonder who bought that Mustang?

[@Hank520Tube]

are you sure you're not Elmore Leonard? You write as well as he does.

[@kimmer6]

@@Hank520Tube Wow, that's a compliment! Thank you! I've read Fire in the Hole a few times and loved it. I plum wored out my typing finger writing the stuff above. Imaging writing a novel. I probably should mention the fact that I have 7 hours flight time logged in a Cessna 150 back in the 1970's. Had I bought that Mustang, I probably would have killed myself flying it. High powered tail draggers can be nasty and burning 65 gallons of AvGas would have sent me to the poor house. The rifle is much safer on the wall as long as it doesn't fall on my head. It's in .44 Magnum caliber, a salute to Dirty Harry.

[@MB-ld6js]

Drop the F650: Great Idea! He should also buy his own electric bicycle

[@kimmer6]

@@MB-ld6js Done! And I nixed the Mustang. I would probably kill myself flying it. I have 23 hours in a Cessna 150.

[@Raymondjohn2]

I'd be retiring or working less in 5 years and I'm only curious how people split their pay, how much of it goes into savings, spendings or investments?? I earn around $165K per year but nothing to show for it yet

[@hermanramos7092]

Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.

[@lipglosskitten2610]

There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.

[@kenanporubsky2122]

Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.

[@hermanramos7092]

@@kenanporubsky2122 Impressive can you share more info?

[@kenanporubsky2122]

@@hermanramos7092 My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market

[@scottfinn6788]

A motor home. I did buy one, a used one. Paid $69,900 and sold it a year later for $80,000. Bought it right. Had a couple nice trips that we are glad we took. But having to think about the unit while in storage took too much of my thought time. It needed to be started and run ever few weeks. Mice got into the insulation once. Had a crappy recall and at the time had to drive an hour to a certain repair shop. The nicest thing about it was stopping at rest stops. We could lie down and actually rest. I used to think staying at hotels was a hassle hauling suitcases in and out but compare that to hooking up sewer, water, electric, cable. So now I am motor home free. I no longer have to think about it, repair it, clean it inside and out pre and post trips, drive it every 2 weeks or other wise screw with it. Its like a second retirement. It was a grand experiment and we went to some fun places where hotels are not right around the corner.

[@wendylang2360]

From Australia- I have seen this happen a few times. Another factor is the relationship aspect - while the idea of just the two of you enjoying retirement sounds romantic, truth is that a lot of couples where both have been working just haven't been together for long periods of time in a limited space & there is not a lot of opportunity to have your own space in a camper - you can't slip out & have a coffee with friends because you are on the road away from them. Take off the rose-coloured glasses & think about how this will really play out before making the big expensive purchase. 😅

[@veltonmeade1057]

Great comment. I know a guy who took over his dad's RV Sales & Repair shop about 20 years ago and he won't own one. He gave me the skinny about them back in 2019, and now I won't ever buy one either.

[@jvolstad]

I'm retired from the Army, retired from my civilian profession (software developer). I have always lived a frugal lifestyle. Today I am a volunteer at my local VA Hospital, working directly with our hospitalized veterans. Most of my estate is going to charity after I pass away. This is the way to live. BTW, I am a Senior Citizen student at the local Community College 🤪.

[@debweissler7808]

You are spot on about a second home. We made that mistake and after the novelty wore off, it just became another house to take care of. It sat empty for months because after retirement we found more and more things to do at our primary home, and the cottage went unused. Other mistakes: an inground pool & a Jeep Wrangler!

[@cashflow68]

I found out that the older I got, that less is more. I would rather invest in dividend aristocrat stocks and enjoy the dividends. If the stock no longer meets my criteria, I can sell it with a click of a button.

[@martyi398]

We have an in ground pool in the backyard literally, the previous owners had it filled in with dirt and gravel, as they grew older they could no longer keep up with the maintenance, (cost them $7,000) The Jeep Wrangler has one of the best auto resale value’s on the market, you would have no problem getting most if not more of your money back than what you paid for it, especially the way the market is these days

[@debweissler7808]

@@martyi398 my pool is being filled in as we speak! Not as bad as a boat, but expensive to maintain for just 2 1/2 months a year. And the Jeep sold for what I paid for it! 😃

[@derekmorin6680]

@@martyi398 yes on the resale, but the ride quality and comfort is horrible.

[@rabokarabekian409]

@@martyi398 The Jeep Wrangler Reliability Rating is 3.5 out of 5.0, which ranks it 25th out of 26 for compact SUVs. Yep, get rid of it.

[@YFolermira]

I'm nearing retirement in three years, and despite having solid companies in my portfolio, my profits have stagnated in this uncertain market. Are there any calculated profit opportunities in this recession?

[@antonnohr]

Generating substantial profits, particularly in a bear market, involves employing intricate strategies that are best executed by seasoned market experts.

[@richdouglas2311]

What recession?

[@antonnohr]

Obviously there’s a recession going on now. Lets be honest!

[@richdouglas2311]

@@antonnohr Please describe it. Low unemployment. Real wages rising. Inflation curbed. Mortgage rates at normal (historically average) levels. Jobs market booming. Stock market at record levels. What recession? If it's so obvious, describe it.

[@mackwiz1]

The market has been gaining in the last few months. Consider the cost of your brokers.

[@KatyInNH]

We chose a small 10 year old camper van as our second home several years before retirement. I did lots of research before buying and have loved having it. We are longtime campers. It is our extra car and has been wonderful to have especially during Covid. We get multiple uses from it as both a vehicle and rolling condo. We really like that we can easily take our dog with us and have a place to cook as well while traveling since I have food allergies. It is not for everyone, but works well for us.

[@pcsteve6072]

There are many ways to RV. We purchased a small trailer with all the essentials as we approached retirement ( when we had time to use it). We have averaged 4 months a year traveling the US and Canada. The big rigs are nice, but aren't necessary. Safe travels!

[@ariwithlove]

This is my absolute dream. We’re in our 40s and this is my goal!! Thanks for sharing!

[@BillGreenAZ]

I hope to retire at the end of 2023. I bought a school bus and am turning it into an RV. I bought it just in case I lost my job for an extended period of time, I could rent out my house and have a place to live. Sort of an insurance policy so I wouldn't be living with friends again. I was unemployed for 5 months during Covid but I'm lucky I didn't have to use that plan. I'm glad that's working out for you. After we retire, it's important to stay social instead of staying at home all the time. There are several programs for nomads where you can join a caravan to have a group of people to be around for that purpose.

[@googleuser868]

We just use our car with a cooler in the trunk and window shades. Enjoying a cheap retirement.

[@cjhoward409]

That’s what my husband and I might do. Either a van OR a small travel trailer as we already have a truck to pull it. And it can double as a little guest house on our 5 acres. 😊

[@AlexFlavell]

1. Expensive car 2. Bigger home 3. Lavish vacations 4. Expensive gifts 5. Regular cash gifts to family 6. Vacation home

[@gregmcmullen6698]

Thanks Alex, I appreciate you tolerating the "warm up" banter before getting to the point(s). All 6...

[@amyanderson6746]

Thanks you for giving me back 11 minutes!

[@Jane5720]

Thank you

[@bobarnold771]

Thank you. I'm interested in the topic, but he was taking too long to get to the salient points.

[@hijodelaisla275]

I love the Comments section because I didn't have to watch an 11.5 minute video to learn what you just told me. I'm surprised a boat isn't on the list. Almost everyone regrets buying a boat; why should retirees be any different?

[@Susanhartman.]

Great thoughts! The year is going on and very glad about the decisions I have made so far. Investing in the market earlier this year regardless of the market conditions has saved my life. I made over 70k USD with a start of 25k in the last 7 months. I know it's nothing compared to what others make but I'm glad I'm changing my finances. If things keep going well I might retire soon>.

[@ThomasChai05]

Spot on. The market presents different opportunities to create passive lncome, with the right skill and proper understanding you're good to go.

[@mariaguerrero08]

You're right, the best time to buy in the market is when there's fear. A huge part of my growth has also come during this bear market. This year alone, I have scaled from 180k to over 354k.

[@mikegarvey17]

@@mariaguerrero08How were you abIe to make that much? Seems Iike l'm not Iucky enough.

[@mariaguerrero08]

*Gertrude Margaret Quinto* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@diane.moore-]

I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.

[@CharetteRose]

Stocks are falling and bond yields are rising, but markets still don’t seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control. I'm still at a crossroads deciding if to liquidate my $117k stocck portfolio, what’s the best way to take advantage of this bear market?

[@Lettyogle]

The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

[@Judithmoy109]

I enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $300k .

[@priyankamahatma6672]

Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@Judithmoy109]

VALERIE JEAN ZWOSTA That’s my licesed Financial advisor you can easily look her up, Thank me later!

[@priyankamahatma6672]

Thanks, I merely looked her up on Google and was highly impressed by her credentials; I got in touch with her because I need all the help I can get. I just set up phone call.

[@brodiemasoon3339]

I've stopped buying gifts to family. I gave them a one year notice so they wouldn't be surprised. They truly didn't care at all. We have nice holidays with all the special foods and treats and enjoy each others company.

[@MarvishaN]

In anticipation of my retirement days, I find this video very educating and helpful for a typical American. But then, given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $980k savings vanish after putting in so much effort to accumulate them.

[@georgeh.5126]

Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals. Maybe you should consider hiring one.

[@josephbush]

@georgeh Yes true, I agree with you. Having an lnvestment advser is the best way to go about the market right now, especially for near-retirees. I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k in months.

[@aureliobjm]

@josephbush Please who is the broker you work with and how can I get across to this broker? I could really use the expertise of this advisors , my portfolio has been down bad

[@josephbush]

@aureliobjm The adviser I'm in touch with is HEATHER LEE LARIONI. She works with Merrill Lynch near my old office so I see her often to discuss my business. There are a lot of independent advisors you might look into. But for me, her strategy works hence my result. She provides entry and exit point for the securities I focus on

[@aureliobjm]

@josephbush Thanks a lot for sharing, just looked her up and I'm super impressed with her credentials. I will be writing her shortly

[@myvalium1]

I’m getting ready to retire in 2 months. Worked hard for 42 yrs - and was fortunate enough to enjoy many things on your list along the way. Now that I’m older - it’s great to not want much. Our needs are much simpler these days. Having said that - the advice here makes a lot of sense. You need to be realistic and project out on what you can and can’t afford, based upon your age and financial picture.

[@kesayo]

Same here. I was lucky enough to have gotten all that out of my system in my 40s. Now I just want to enjoy the rest of my life without worrying about expenses or work or doing what other people want me to do. The best thing money can buy is freedom. And the more expenses you have the less freedom you're gonna have.

[@TheKitchenTechnician]

Are you kidding?! The older I get the more I want want want…to experience all the things I missed while I had my head down raising and putting three children through university. Now that I have time for myself I feel that it’s fast disappearing. Time is fleeting and you don’t realize it until you’ve just about used it all up.

[@gawainborghi7257]

@@TheKitchenTechnician 9

[@Dbb27]

As a Realtor in S Fl it always amazed how buyers of second residences thought they could rent their places in the off season. Thank you for mentioning that point. If you need to rent it to offset the costs you should never have bought to begin with.

[@mbcraig2]

Yes, renting is so much more economical for vacation stays than owning a property!

[@67daltonknox]

@@mbcraig2 Not always. My Mammoth condo costs me $11 to 12,000/year to run. I use it for 3 to 4 months of the year. Renting a condo there is $1,000/night. Do the math... The value of the condo has gone up 70% since I bought it.

[@TH-eb5ro]

I have been planning on living to 100 since I was ten. I know so many that went for that extra home or retirement destination place and then a few years later were selling. Visiting a place is not the same as living there. My husband is continually pushing to get us to get more, do more. I am done spending all my time taking care of these things. Number one thing to anticipate is health issues and what it takes to support changes in health.

[@abhayvadhavkar2231]

Some of the best advice ever! Adding to that, expensive cars and clothing brings unwanted attention potentially making you a target for robbery and violence at an age where you are going to be less likely to fight off a 20 year old. Do not buy items, especially cars that message, "I am rich".

[@josephstevens9888]

I was raised by parents who were children of the Great Depression. WW2 dominated their high school years. They paid off their mortgage years ahead of schedule, and always bought their cars with cash - basic model at year end clearance sales. They pounded into me and my siblings the importance of living below our means and saving and investing our money. By nature and nurture I'm far too fiscally conservative to buy into any of the categories that were discussed, however I know people who have made some of these mistakes.

[@653j521]

People who had lived through the Great Depression seemed to be either extremely frugal because you never knew when disaster might strike again, or they decided they can be happy with or without much money, it's all the same to them, because hey things work out if we all stick together. My uncle, who suffered real want living in a big city with no land and few food resources, was the former, and my father, who lived in a small town with some land and enough food resources to give generously to the needy, was the latter. Most, though, avoided the stock market. 🙂

[@joyanderson8646]

My parents too!!! Paid off 2 houses & only had 4 new cars 2 trucks, 2 cars in 51 yrs they were married, recycled, up cycled, ate mostly at home. When they first retired they traveled & went out to eat for breakfast & dinner. They enjoyed themselves until they got sick Daddy diabetes 2, renal failure, Momma senile dementia & high blood pressure, mini strokes!!!

[@vickyburton2434]

We have spent so much money helping our kids and we are done. We are down sizing and simplifying our lives. We will be retiring 2-3 years and are embracing the things we have and not worrying about the things that impress others. I always remember status is: buying things you don’t need with money you don’t have for people who care nothing for you. Thank you for this video!❤

[@FirstHillSeattle]

My dad who has been retired for 20 said that his rule in retirement is that if you need to finance it, you can’t afford it. He has purchased several new cars during retirement, all with cash.

[@EfficientRVer]

If he needed a car during the price spike of 2021, then he paid too much cash. Sometimes, for things like cars, buying sooner rather than later, if you find a bargain on exactly what you need, more than makes up for the interest you pay. Not all financing is done to live above your means. It can be a tool for keeping money available for other things. There is a cost of lost opportunities, when you tie up all your money, either by saving it for a needed future purchase, or by finally spending it all on that purchase. The "I save and pay cash" method is great for people who don't especially plan to put their money to work on other opportunities with better returns than the interest rate that they pay on a mortgage, car loan, or whatever. Someone cash-strapped and growing a business should not follow your father's method. Someone sitting in their recliner every day, should. Most people are between those extremes. If you're irresponsible, never borrow. If you're responsible, and treat credit and borrowing as a useful tool, don't rule it out. Borrowing money cheaply for a good purpose, if you know what you're doing and have good self discipline, is usually a good idea, and never a terrible idea. Abuse it, then it's a terrible idea.

[@paula9604]

That has always been our policy as well…if we don’t have the cash we don’t buy it. Also, paying off your home before you retire. Both my husband and I had modest incomes, but live very comfortably in retirement without any debt

[@AlanPeery]

Depending on whether the money to pay cash is coming from 401k (taxed) or Roth IRAs (untaxed), it can make sense to take out a loan instead of pulling a big lump from a 401k. Depends on income, of course.

[@Summerslake]

In these years of high inflation this is a very simple procedure I've done for years. Pay early, often & plus hundreds more on the PRINCIPAL on your mortgage. In 2022 I made sixteen (16) payments versus only twelve (12). This is particularly important if the property's on an ARM. NEVER BUY A NEW CAR. PERIOD!

[@gordonspears6320]

What's with all these comments about high inflation? Inflation is NOT high.

[@Summerslake]

@@gordonspears6320 Facts: inflation WAS 1.4% in January 2021. NOW it's nearly 20% twenty percent. If inflation is "NOT high" why is the economy one of the top TWO issues in the forthcoming elections?

[@jimtaylor4302]

I have been retired for 22 years and have done just about all of these 'mistakes' . We did downsize our big house. This did save us about $1000 every month since then. In those 22 years, I have gone through 3 classy convertibles.. We travel south every winter to our favorite trailer park and most years book an ocean cruise. We have 9 grandchildren and my wife insists that we set things up so that their education will be paid for because "We have more money than we will be ever able to spend". I know that she is right , but it still does not sit well with me. After a lifetime of scrimping and saving it is hard to change. We have always lived well and continue to do so. The secret as I see it is to do buy all these things but to never go in debt to do so. If you 'borrow' from your nest egg but do not pay it back before you need to borrow from it again, then you are a bad credit risk and you nest egg should not lend to you.

[@1whitecottagelife770]

I actually canceled my Amex platinum card. The annual fee was $395, which I thought was insane, but my husband said that it's a business card, business expense, whatever. They raised the fee to $695/year. We canceled, they immediately came back lowering the fee to $395. We're not interested anymore and found out that they are getting cancellations in droves

[@lorenwillis425]

I just don't get the "value" proposition that Amex offers. Get a Chase Marriott card, pay $55-95 a year, and get a free night at a property every year for the annual fee, get points to earn more free nights with the spending on the card, pay it off each month, no interest.

[@cber5077]

Credit cards that give points/rewards are free. Why would you ever pay to have a credit card. My citi mastercard has a very generous cash balance program and a very high limit. So why would I ever want an Amex card.

[@lylestavast7652]

AMEX was once a good value for business travel, but not anymore in my experience...

[@yuckyool]

I handled my 92-year old father's finances and we're finally going to get around to cancelling his A.Platinum. What a waste.

[@eventhisidistaken]

My card has a modest fee, but it also basically reimburses that fee by paying for TSA pre-check (one per year, which means my wife and adult children whom we travel with all get to take advantage of it too). It also provides a lot of other travel benefits like no-fee foreign exchange (which I use as I do a fair amount of international travel) plus 2% back in addition to the usual travel insurance benefits that a travel-oriented card provides, so it's worth that modest fee to me. If it was several hundred a year, probably not, but it's pretty low, and the 2% vs 1.5% on most free cards, is made up quickly. ...capital one for those wondering

[@galex5060]

Great advice! I retired at 57 in 2018. All my funds are carefully invested and reviewed regularly. My annual budget is $43K even though I could spend much, much more, and I always aim to spend less; I make it a fun challenge to beat the budget and give myself a small reward when I do. If I buy something new, it is only to replace something that is broken and can't be fixed (my Dyson stick cleaner is hanging on with tape and rubber bands and it still does the job). I maintain everything meticulously and do all my own chores. Bought a new car 3 years ago; but it was a demo model (500 kms on the dial) and saved $5000 dollars. It is a Mazda CX-3 and will last me 10+ years. Love it. I could afford a BMW or a Mercedes. It's only a car folks, and I don't need anything more. I always comparative shop and do my research and find the best deal. I have a rolling budget which is planned for 5 years in advance. Everyday, I update it with every single purchase (even if it is a cup of coffee). I also have a savings spreadsheet which is updated daily. This takes me a few minutes. In this way I have saved thousands by watching every cent I spend. I have friends who spend and spend and spend and at the end of the year have no idea where it went. I made a pact with everyone; no gifts. I don't give and don't expect anything in return. However, I do donate to charity regularly. Have a nice lunch or dinner with friends instead. We all have too much and most of the time give the wrong gift anyway. I regularly declutter and if I buy something, something else has to go. Read Marie Kondo - you'll understand! Experiences are much more important. At insurance time, I always go on-line and look for a better offer. I usually change insurers every year. It has saved me thousands. Same for energy (gas and electricity). People are usually too lazy to bother. You don't have to be loyal to any company. I have done some extra casual work when I felt like it and picked up a few thousand here and there. I see below that some say you could be sick and die early and not have enjoyed your money. But that's not the point. Who knows what will happen in life. When you die you don't know what you did anyway. It's irrelevant. Just live wisely and remember about all the things you did and now you wonder was it really worth it anyway. We have this enormous fear of missing out (FOMO). This is all not to say that I have a boring life. I go out to eat at least twice a week and don't scrimp; nice wine (one glass will do); always nice food. I have NETFLIX and DISNEY+ and AMAZON. I have a great MacBook Pro (did save $400 on purchase price) and iPhone. I buy well and buy quality. I dress well. I see friends. I go to the gym 6 times per week to maintain my health and fitness (feel like I am 30 again). I believe in future proofing everything. Finally, it's my life and I don't care what other people think. Their opinions are about them. I live well and carefully and I am not dependent on anyone.

[@1stamendmentmedia464]

Thanks for sharing! I'm looking to retire in 2 years at 56. I am willing to live without some "material" items (more like, have everything I need but be wise about it, and I already do) to have the time and freedom for the gym, outdoors, volunteering in the dog rescue community, etc. I'll have a budget of 50k a year in retirement.

[@CheckThisOut77]

Family?

[@Vixiefox]

I worked for the Post Office for 33.5 years and was able to retire with full benefits last year at age 56. The wife retired soon after me after 33 years as a nurse aid. We were far from wealthy, but comfortable. We didn't live extravagent lifestyles, and saved for retirement. We set a goal to retire to a warm climate, so ended up in Florida. Even though the house is smaller than we had before, it did cost more initially, but the coast of living here is less, especially on property taxes. Due to careful planning we were able to pay cash for this house, and we did get money from the sale of our other house, which was close to being paid off. I did get a nice 6 digit inheritance this year, but didn't go crazy. Only thing I bought was a new car, and a modest one. So now we have a paid off house and car and no debt, money in the bank and money in retirement accounts. Our monthly expenses are a fraction of what they used to be, so even though I receive a smaller income than before, it is more than enough to cover my monthly expenses, and I have money in reserve in case of an emergency. So overall it is good advice to not overdo it, you don't need a big fancy house or car to be happy, just careful planing and not overdoing it.

[@UncaDave]

Are you interested in adopting? Can I call you Dad? Ha Ha! Sounds like you made good choices. Also Publix is just the most wonderful grocery store to shop in especially the bakery. FL has much to offer and places to see and visit. They also have great state parks for camping too. Over 65 and a resident you get a 50% discount to stay in them. I pull my little camper all over FL and have so enjoyed the parks. One of my favorites is Highland Hill SP near Sebring. It’s just beautiful and people are great. Also Blue Spring SP as in the winter the manatees hang out there.

[@dancalmpeaceful3903]

Hope you saved a 1/3rd of that inheritance as Uncle Sam WILL be knocking at your door. Overall though...you sound blessed. Enjoy! (Side note: I may end up being a "winter bird" and go to FL for a few months of the year possibly....we'll see. I haven't escaped the rate race yet....but I"m working on it.

[@Cajundaddydave]

Excellent advice! We nearly always drove nice-but-used cars, don't eat out much, and saved a ton. Retired in 2020 and downsized the home, no debt, no vacation home, no boat, our gifts are experience-based, not stuff. We do enjoy travel and that is our one vice but we choose our travel frugally, often within the US. As long as we don't do anything incredibly foolish I expect we are in good shape.

[@AdebayourQuadri]

Acquiring a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $160K for some time now, but my major challenge is not knowing the best entry and exit strategies. I would greatly appreciate any suggestions.

[@ellieynsunza5293]

buy index funds....preferably an S and P 500 fund!

[@billb.2673]

7. An expensive boat. Rarely does one encounter such a money depleting animal. Virtually every aspect of boat ownership is an expensive, reoccurring expense...fuel, insurance, routine maintenance, repairs, mooring fees, winter storage.....it goes on and on.

[@timdowney6721]

I’ve always liked this description of just about any boat; a hole in the water into which you pour money.

[@bobv5806]

@@timdowney6721 The same goes for airplanes.

[@peterharris3096]

Not for kayaks or canoes, about the same investment as taking up cycling and helps with fitness and relaxation.

[@alansach8437]

On the other hand, a cheap boat may be good. When I retired I found out that my boss was selling an old wooden motorboat for 500 bucks. It was in decent shape and the motor ran good. It came with a trailer to haul it down to the water. We bought it, painted it, and had the time of our lives virtually every summer weekend for five or six years. We never had to worry about taking it in shallow water, getting a scratch on it, or anything. Just fun. We would run it up on the beach at secluded locations where the fancy boats wouldn't try, and have picnics. We would take in in narrow and shallow channels without a second thought. Never regretted buying it. We only got rid of it because we were moving away from the water. My old boss bought it back from me for 700.00! Guess he saw how much fun we were having! Same thing with an RV. If you are going to buy one, don't be a snob! Buy an old one. Buy one on the smaller side, that gets decent milage and is easy to drive. You are probably only going to use it a few weeks a year. Let others take the big depreciation hit! Fact is, you can find RVs 10 or even 20 years old in decent shape, with less than 100,000 miles on them for a song and a dance. And the appliances etc. have all proved their reliability. It's amazing how many problems folks have with brand new RVs. Ask yourself, am I buying this to have fun, or to impress people? If the former, you will have way more fun, for way less, with an old one. Just like the boat, you aren't constantly freaking out about a nick or a ding!! You can just relax and have fun.

[@jamesrogers9747]

If you purchase emotionally, true. If it is a big part of your shared retirement plan and you have budgeted for it without going into debt to do it, it is not a wrong purchase. Our 1,000 Monte Carlo scenarios delivered a 100% chance of success while owning an expensive yacht outright.

[@whatifschrodingersboxwasacofin]

I can tell you from experience that traveling with 60+ year old knees, hips, and ankles is VERY different from traveling pre-retirement. I highly recommend dialing back the one big fantasy retirement trip and traveling to a variety of places for shorter amounts of time while you’re still personally mobile. Think cobblestone streets. And cyclists… And castle stairs. You want to be able to go inside the castles, right? Not many have elevators. But they do have lots and lots of stairs. Lots. And the restaurants. So many you won’t have the energy to even get into. And the line-ups… even for seniors’ tours. They tend to arrive in clumps. The good stuff takes energy to enjoy, and isn’t often walker- or wheelchair-friendly. Accessibility isn’t a thing everywhere. You can sit on a bus or boat all day and enjoy the view later, when it hurts too much to walk. 🙂 (Pro tip: European river cruises require you to climb up, across, down and across between your boat and however many other boats are docked side-by-side in the port. They don’t have harbours or bays; the boats all have to stay in the river somehow. There is no shortcut through a locked ‘complete stranger’ boat. How old do you want to be trying that after dark and a few drinks? Bring your knee braces.) Go now. You’ll thank me later. 😊

[@Era515]

You are so right! I get tired now just thinking about all the stair climbing, walking, (especially on cobblestones, or pavers) etc I did while vacationing abroad when younger. So glad I did it then, when I had the energy and no aches or pains!

[@pettytoni1955]

My mother and I each have more disposable income in retirement then we ever did while working. We've gotten in the habit of giving our kids, grandkids, nieces and nephews cash gifts. I believe we'll rethink that policy, particularly when they can't be bothered to spend time with us, and we live close by.

[@brad9092]

Good for you. They cannot appreciate the money snyway since they did not work for it.

[@MikeZMonroe]

Consider cash gifts into a 401k which you own but make them beneficiary. For every dollar they save - you match. You can limit the match. It instills a behavior and a constant reminder that your a integral part of their lives.

[@cleaninglady9410]

I have a rule re gifts to nieces, nephews, etc. If you can’t be bothered to send a thank you note (or even a thank you email), I can’t be bothered to give you any more gifts. 😊

[@alexstokowsky6360]

I don't give cash anymore because they just end up paying bills with the money and it doesn't "feel" like a gift in the end. I also don't let them buy the gift and just reimburse them either for the same reason. I don't give any gifts which I cannot wrap up and hand to them. I will take you out to dinner but I will not give you a gift card for dinner. This way there is memory and connection of the gift with YOU, the giver, and you deserve that.

[@blockmasterscott]

I'm retired, and pretty much followed everything that you said. The only thing that I'll spend extra money on is business class when the wife and I visit her family over seas. I'm just too old to sit in a small seat for a 17 hour flight. Everything else in life though I'm very frugal. And I'm debt free.

[@barrymorrie2544]

same here business class on Philippines air line 350 airplane is top notch

[@cashflow68]

Fantastic, I 100% agree with you! I went to China 8 yrs ago and was lucky enough to get a seat by the emergency door. The one thing I had to agree to was to help with an emergency evacuation. I had the same seating arrangement returning. Not first class, but saved a lot of money and a lot more leg room.

[@lloydpriddy4697]

@@cashflow68 as

[@covercalls88]

I have flown over seas many times on the 380 and I always get the seats in the upper deck, for one it is shared by first class so the number of people are low, boarding and exiting is quick. The deck down below is a cattle call.

[@jant4741]

Play the points

[@dcamnc1]

My parent finally bought a second house at the beach, like they had always wanted. All they did was work on the stupid house! They almost never visited the beach, due to having to maintain the house. After several years, they realized how much of a pain it was and sold it. It was basically a waste, but they did finally quench their longstanding desire I suppose.

[@dianelash1799]

P

[@knightwriter2989]

It has been documented that the majority of millionaires actually do NOT own second homes.

[@dcamnc1]

@@knightwriter2989 They actually were millionaires, just barely. I manage their finances since dad died recently.

[@knightwriter2989]

@@dcamnc1 But very few multi-millionaires own second homes. It's just a fact.

[@dcamnc1]

@@knightwriter2989 Sure, I'll be a multi-millionaire (barring anything catastrophic); I'm almost at a million now (along with no debt and paid off mortgage). I don't plan to buy a second home. They seem like a waste to me.

[@marionpark-pfoertsch6968]

An expense that may seem small but can really add up, new clothes. We all have enough in our closet that we can upcycle or remix to look nice without going out and buying more. Especially when we are not working and need to have different outfits everyday, a few basic pieces that you know work for you is all we need.

[@kevin7151]

Geoof, great segment as always. Another dimension to consider when owning a second home is that one is compelled to actually use it versus traveling elsewhere. If you have sunk that expense of the second home, you often think about its utilization versus other vacation options. With respect to changing residences upon retirement, people seriously need to consider what their world will look like in 10-15 years forward. One should focus on ensuring they live on one level (preferably ground level if no elevator) and that all living needs can be satisfied living on one floor. As time marches on, it gets challenging to go up and down staircases. From my own experience, this is either lost on people and/or they are in denial of the aging process.

[@eemcm6512]

@Kevin-Both valid points. A number of years ago, we threw around the idea of a vacation home, either mountains or beach. We abandoned it when we started considering the logistics of upkeep on a place maybe hundreds of miles away, which we may or may not actually use all that much, in a location we’d effectively be locked into. Re the primary residence, DH and I are having that ongoing conversation currently. The current dwelling isn’t a viable option for the very reasons you mention-split-level, no way to have a master suite on the main level-so we’re considering the options both in our area and elsewhere.

[@kevin7151]

@@eemcm6512 Wise move to get in front of it. I am in a traditional colonial home, with all bedrooms upstairs. Many years ago, when my wife and I were looking at homes, we saw quite a few where elderly people moved their bedroom into their dining room area so they could function on one floor. That certainly works if you have a full bath on the first floor. Best to you and the family.

[@dingfeldersmurfalot4560]

Also, don't have your home have only stairs at the entry. There may come a time when you can't handle them, or are even in a wheelchair. Plus your old dogs may not be able to handle stairs anymore, and you may be too old or small to lift them every darn time they need to pee. Buy a home with wheelchair ramps or build them.

[@rustykatt3870]

@@eemcm6512 Hi, would getting one of those stair master things help?

[@10vogels]

I retired 2 years ago and fully agree. Money goes much faster than expected, even if you pay attention.

[@TheFirstRealChewy]

Essentially, spend as little money as possible. It works pre-retirement and will also work during retirement. The biggest expenses in retirement will be long term care, medical expenses, mortgage payments, vacation travel, and supporting family members. Don't let credit card payments make your list.

[@liambracey6708]

Many people have seen their financial situation decline since the start of the year as a consequence of the cost-of-living squeeze. My condolence for anyone approaching retirement you may have concerns over whether your pension pot will stretch to cover the rising costs of living.

[@richardsoncuthel810]

That's why I'm creating more income streams that I have complete control over. These will take me places that my day job never could. The earlier you start investing your money and putting it to work, the more time compound interest has to work its magic on your portfolio. This is how I'm going to achieve early retirement and it's possible for everyone. understand , know the path needed and stay committed to the craft

[@lylahthompson2169]

@@richardsoncuthel810 How are we going to achieve all that given that the market has being a mess most of the year seems farfetched. I keep hearing that the market is pricing in a 60% probability of a 75 hike. But isn’t it also pricing in a dovish fed that’s going to pívot relatively quickly?

[@aubreymcgovern9467]

@@lylahthompson2169 The best way ever to cope with this market is to seek guide from a professional. most individuals have never encountered a bear market, which is why their emotions are all over the place, making it look like a risky space to be in. . I've been led by " Katherine Duffy Burke ," who has helped me see that profits can be produced in bull and bear markets alike, and I've been doing well with a 15% monthly ROI

[@mialangley2388]

@@aubreymcgovern9467 Hi, please could share more insight on the expert that assists you? .I'm a typical late 40's, working class mom concerned for the future in all aspects of where we all going, in this breath finances

[@colbyryann2665]

@@aubreymcgovern9467 Katherine really seem to know her stuff. I found her website, read through her resume , educational background and qualifications and it was really impressive, she is a fiduciary, who will act in my best interest. I booked a session with her

[@jtidema]

The Vacation Home concept isn't just economic, though. It's having spent 60 years vacationing in hotel rooms, FINALLY having your own place... priceless... Also, the idea that the best times for us are the best times for renters may not be everyone's case. We love being in the Caribbean when hardly anyone is there. Summer is super busy, because everyone with kids has summer vacation and the trade winds bring cool air that we don't get in the humid east coast... So you have no trouble renting by the night in many resort areas in the 'slower' season.

[@OlivePittsOnDesk]

I learned very quickly that giving money to family quickly becomes not only expected but unappreciated. Giving to friends just expands their monetary ignorance. I helped some friends out financially and a few months later they took an expensive vacation blowing the savings account I was trying to develop for them and their kids. Financial advice is also a poison for many people.

[@robertdavenport7802]

RIght after I retired, I ran into an old work friend who'd retired a few years earlier. He said something which struck me as wise, so I'll pass it on as best I remember. "It takes a few years to settle into living on retirement income. Just take your time and you'll figure it out."

[@happytraveller2122]

That’s true.

[@tedroesch9133]

About 2 years before my retirement date I started living like I was retired on my "planned income". One year later the company was resold and trimmed in size and I was pushed out the door a year earlier than I had planned. No biggie, I was on my retirement budget and easily adjusted my new sleeping hours 😁😁😁. 👉 In the mid-80s I went to an investment seminar, the speaker said check obituary ages, if people die a year before or a year after their retirement age (65) they may have died of 'Financial Stress'.

[@robertdavenport7802]

@@tedroesch9133 Glad you made it through the 'Stress.' :)

[@inaperfectworld8087]

How about time to adjust to being retired.

[@robertdavenport7802]

We drove around Canada for two months, that did the trick.

[@robocop581]

One of the luxuries I'll spend on when I retire will be to fly Business Class on flights over 4 hours. I don't have the patience or physical ability to sit in narrow seats in economy in a 3X3 configuration with the seat in front of me fully reclined. That's just torture for any person over 60. I plan to fly abroad at least once a year in retirement in the first ten years.

[@jglee6721]

Sounds good since you can afford it. Money well spent.

[@SM-ji1qe]

This is our plan too. Enjoy!

[@Milkman3572000]

Why are you flying anywhere? You like being treated like cattle? You like giving up all your rights and be at the Mercy to TSA and the Airlines? I live in the GREATEST country on Earth. America. I can drive anywhere and its BEAUTIFUL. I don't need a never ending vacation. I am KING of all I can see... I want to enjoy what I have.

[@Theguys1]

Agree - no more economy class!

[@SM-ji1qe]

@@Milkman3572000 not sure why you’re so concerned with what other people do. No one asked you to change your life.

[@joesphcu8975]

I would be retiring or working less in 5 years and I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I earn around $165K per year but nothing to show for it yet.

[@alexyoung3126]

you're not alone, i'm part of the High Earners, Not Rich Yet (HENRY) not having much left after taxes, housing, and family costs.. not to mention saving for an affluent retirement.

[@lawerencemiller9720]

@simon fes very true! I started investing in 2016 and that same year I pulled a profit of about[$300,000] with no prior investing experience, basically all I was doing was seeking guidance from a financial-advisor, so you don't necessarily need to be a perfect investor, just have a professional assist you

[@stephaniestella213]

How can one find a resourceful FA, I buy the idea of employing their services, its a shame market crashes as of late have become a sort of habit for stocks

[@lawerencemiller9720]

My advisor is 'INGRID CECILIA RAAD'' In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.

[@stephaniestella213]

I just looked up INGRID CECILIA RAAD on the net and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals..

[@msgfrmdaactionman3000]

Man, that's a long story for people that never had that happen to them. My personal tip, don't buy a car on credit. Treat it like a credit card and have a zero balance. I've done that since my 30s.

[@joecampbell2529]

Absolutely...Never owe money on a depreciating asset.

[@nikm2045]

Seriously. That was the longest 11 & 1/2 minutes of long winded explanation I wish to spare anyone from having to sit through. Summary, don’t buy: 1. Expensive car 2. Bigger house 3. Expensive trips 4. Presents 5. Cash gifts 6. Vacation home

[@alanjameson8664]

And run the car into the ground--or to put it another way, until it is no longer economical to maintain.

[@yonemitsu1]

We bought car new traded in our car paid 4% interest and did not take money out that was getting more than 4%

[@jeanshimpeno45]

When I retired I purchased a park model home in a shareholder campground. The yearly fee is low and it is only an hour from my permanent home. I bought it used and invested $2000 to make it comfortable for me. I enjoy my vacation home most weekends. I’ve owned it for three years now and it is worth more than I paid for it do to the crazy housing market. I felt it was a good purchase and worth the money being the campground has a lot of perks.

[@eventhisidistaken]

I think the key is, if you use it, then it's probably worth it. A lot of people buy second homes and then don't really use it. But it doesn't have to be either/or. You can buy a second home, and as long as you don't mind sharing it, hire a property manager to do short term rentals. You can then use it whenever you want, but also have it pay for itself. You can put a lock on the master suite and do this too, so that your bedroom really is just your bedroom.

[@Natalieneptune469]

Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.

[@Robertgriffinne]

Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.

[@PhilipMurray251]

We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "Jennifer Aaron Marcontell ", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.

[@Patriciacraig599]

@@PhilipMurray251 Jennifer really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her

[@Heddanofarsan]

Yes but that's another KZbin clip.

[@mikaelcronholm]

Rental property in attractive locations. Small! Will be attractive in good and bad times. Good times, kids move from home. Bad times, people trade down. Monthly income, plus appreciation.

[@davidfoulk3078]

I’m retired so no new car, no haircut, my wife cuts mine for free, no restaurants, no alcohol and we’re in Florida loving life. You really can cut out a lot of things and not even realize that your being frugal!

[@HolySchmidt]

Nicely done David

[@cashflow68]

Nice, I’m still living below my means even though I’m financially free. Retired & debt free. I’m living off my dividends & waiting until I’m 70 to apply for SS. All dough, no show is my motto.

[@benh3427]

So true, we retired and done the same things like you but we did it in Hawaii 🤙

[@rubygreta1]

You can get beer for as little as 50 cents a can. It won't break you.

[@jglee6721]

I've been cutting my own hair for decades and I can cook better than most women. lol

[@FigaroHey]

I like to watch a UK TV show called "Escape to the Country." Most of the people on the show are retirees and they are always looking for three or more bedrooms, two or three living rooms, a huge kitchen and often they ask for a place with no neighbors or in a small village which has a pub or possibly a church for the sake of social life. It's like they think they are thirty-year-olds. I look at these 4,000-square-foot barn conversions with vast two-story windows and skylights and stairs, sometimes with an upsidedown layout of living areas upstairs, and I'm amazed that they are not saying, "Who is going to vacuum all this? Who is going to clean the glass? How will we change a lightbulb? Where is the nearest doctor? On Houzz, often the people adding to their houses, typically an enlarged kitchen or family room are people whose kids are grown and gone. They enlarge their houses or upsize with the idea that they will have plenty of room "when the kids come to visit with the grandchildren." Maybe the kids aren't even married or live far away or even abroad, but they shop for a fantasy of a huge house with "plenty of room for entertaining large family gatherings" that will no doubt either rarely happen or be way too much work for them to pull off and within ten years of retirement they will need to move again.

[@67daltonknox]

Years ago my mother moved to the countryside - a small Dorset village with a pub and a post office/shop. The natives accepted her because she was a nurse and therefore useful. Soon after, a couple from Australia bought a cottage. Both born in England, they met in Aus and dreamt of retiring to a cottage in England. The locals ignored them, on the street or in the pub. After a year they quit and went back to Aus.

[@MelissaAnderson-y1k]

One more thing we added was not dining out all of the time. We have retired friends who do that. Honestly we cook very healthy meals that taste far better than most restaurant food. My spouse and I enjoy cooking like a hobby so I suppose you have to share that passion to keep costs in check.

[@gordonspears6320]

If you like to eat healthy, like me, you may find it difficult to find healthy food in restaurants.

[@cfoskeeter]

As to the car, and any other large purchase. If you can make the purchase with cash, and it doesn't change your ability to continue to live your lifestyle, then have fun. Once you're in retirement and out of debt, you should not be borrowing money.

[@linuxsurfer2002]

Agree - no more debt in retirement.

[@erwinbrubacker7488]

DoNot borrow money, period. It will prolong the time till retirement.

[@johnny-z]

My advice, keep buying real estate. They aren't making any more and the values continue in an upward trajectory. Rates are high and so are prices - Wait till the rates drop... In many instances you can own real estate and not even rent it out and still make money on the gains.

[@blujeans9462]

I've been retired for 4 years and it looks like I haven't fallen into any of the 'mistakes' mentioned yet. All except the vacation home. I bought one 15 years before I retired in anticipation of selling my in-town home for a place in the country upon retirement. But the day came and I found myself very torn regarding selling the in-town home; there are so many benefits: including much better hospital care. I decided to keep both as long as I wasn't taking from my modest nest egg to do so - even though it makes no financial sense (as my financial planner has told me already), since I probably spend less than a few months there. My feeling is, I would rather have the option to spend time in nature whenever I choose than having money in the bank. The house is like a low interest bearing savings account with benefits, that I can cash in when needed - or when I get too old to enjoy it. :-)

[@653j521]

But a savings account doesn't require maintenance.

[@blujeans9462]

@@653j521 :-). True, but it is so boring. Especially over the past 10 years (but finally a break with 4%!), with almost non-existent interest. I'd rather watch the eagles fly overhead, watch the fish jump for food during the early evening, and the dragon flies land on your knee - any day - than to see a $20 per month deposit.

[@johng4093]

It's your life so do what you want. I'm sure you are intelligent enough to have carefully thought it through.

[@67daltonknox]

Can you rent the vacation home for part of the year?

[@blujeans9462]

@@67daltonknox Unfortunately, no. It is in a private community that does not allow short term rentals - long term rentals are allowed but with restrictions. Since I wrote this comment, and the market was so hot (earlier in the year in my area), I did decide it was time to sell one of the houses. I've enjoyed both very much, but I'm not getting any younger - and, as they say, you can't take it with you. I sold a lot of my possessions over the last few years, so I then decided one of the homes had to go 'on the chopping block'. I did try to sell the vacation home - with little interest. It is not for everyone, for sure (rustic, no area for kids to play - unless they liked exploring the woods, and not too many kids like that anymore :-) - so I have decided to sell my primary home of almost 40 years and move into the vacation house as I planned to do when I originally bought it. I know, a lot more than you wanted to know - lol!

[@mangos2888]

I agree with all of these except maybe vacations. The world is so diverse and we only have one lifetime to see it. No one needs a month-long vacation, but experiencing different cultures and sites has to be personally fulfilling.

[@davidknoke692]

Good morning Geoffrey. I always always enjoy theses presentations, and this one is no exception. I retired two years ago and have found retirement fantastic. For me, the best thing I did was start walking pretty much every day. My friends tell me I never looked better. Not vanity, just healthier and removed stress.(note you should do a presentation on stress). I get a retainer from my old office, but rarely go to the office. Calls/texts from clients/co-workers mostly. Local public CPA firm. I can relate well with your points: 1) Car. I got the nice car out of my system years ago. I can relate to that emotion. But, just lease one for a weekend-you will be fine. 2) House. We built our dream home 8 years before retirement. Much easier when your younger and can measure your cash requirements. Changes a lot once retired 3) Vacation. Instead of big expensive travel deals-we have rented a vacation home for 5 days each year-that works perfect for our family-three sons, three daughters in law, seven grandchildren. Be sure to get one with a large pool. I pay for everything-makes for perfect gift to the family. My boys live 7 hours apart and this is a great bonding experience for everyone. Two are CPAs by the way(not allowed to talk acct at these trips). 4) Gifts. Everything in balance. I helped a little and balanced. The worst thing you can do is start subsidizing your adult children-I saw this in my practice and it can get ugly. 5) Vacation home. See above-with that said my one son bought property in Cape Coral on one of the canals which so far has been a terrific investment. He uses it personally from Michigan 2-3 weeks a year and has cashed flowed for him. But, with everything there is a risk factor one really needs to consider so as not to end up like the co-worker you mentioned. Thoughts. Plan plan plan. Oh ya Plan! Once you retire you won’t believe what Miscellaneous costs. Thanks again for your excellent work

[@alanjameson8664]

I had no male role model in my family who stopped working before being physically incapacitated. So I studied for a long time about what would be involved in retirement and planned--more carefully than required, actually. I could have retired several years earlier, but don't mind having worked longer than necessary.

[@drmack911]

Zero debt, including no mortgage, was our turning point. Suddenly, all the desire for more stuff magically evaporated. Even our credit score began to decline because we didn't borrow anymore. We do use a credit card for almost all purchases but we never pay interest because we always pay it off before the next billing cycle. We do it for the airline miles that have given us two free trips to Cozumel this year (we're SCUBA divers so it's a very high value amenity for us and if you dive you get it). Our path to financial security was through real estate, beginning with single family then progressing to multifamily. We now also buy oil and gas wells (hey, we're in Texas so of course). We drive used cars and our house was built in 1971. We're surrounded by mcmansions filled with young doctors, lawyers and middle managers, usually both parents working with nannies or daycare for the kids. So I guess we're the typical millionaires next door that look like thousandaires. We're both educators. One of our fellow multifamily investors is still working as a letter carrier for the USPS. Talk about millionaire next door! When we attend investor meetings for our properties the parking lot is filled with well maintained used cars that are rarely less than 3 years old.

[@johng4093]

I know of a school janitor who owns 3 houses in California and 1 in Portugal, could easily retire from the janitor job but says he's not ready yet.

[@RetiredPilot]

We have been retired for 15 years and we have found the best thing is to change as little as possible and have planned well ahead. When we retired we had no debt two adult children who we educated and set them on their way. We owned a country home fully paid for and although no pensions we had saved and invested wisely. We bought a mobile home in Florida that had low taxes and low monthly carrying cost. We sold it two years ago to be able to see more of the country and now rent in the winter. Most of our income comes from investments with dividends providing a good deal of it. We adjust our annual spending depending on market conditions and keep enough cash for 5 years of expenses. This may sound frugal but we have no worries and do live a good life. Your advise is well thought out and sound. If we live to be 100 so be it we will not go hungry. Cheers

[@yoshit9819]

I retired 10 years ago. 6 figure pension. No debt. Still driving my 05 Toyota Sequoia. If I spend money I do it on an experience.

[@ambulet]

Exactly. I have bought enough "stuff" to quote George Carlin in my life.

[@TheEstevenw]

A good friend told me if you can afford to buy, you can afford to rent. So we didn't buy a condo in Florida and found out the expenses (condo fees, and taxes) worked out to what we were paying for 3 months in rent.

[@mburgess2829]

My parents bought a timeshare when they retired that they now can’t travel to and it’s been impossible to get rid of.

[@kjtp01]

Did you not try those timeshare liquidating companies you see advertised everywhere. They charge a fee but no more maintenance fees for us anymore. we had a nice Marriott timeshare bought a long time ago and we used it but certainly didn't get our moneys worth out of it. Good luck

[@BeverlyTalley]

Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest…

[@Florencecoxx]

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks.

[@izagdlife]

I keep wondering how people earn money in financial markets, i tried trading on my own made a huge loss and now I'm scared of investing more

[@BeverlyTalley]

@@izagdlife That won't bother you if you trade with a professional like *Sarah Alma Martinez* my consultant. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. I basically follow her trade pattern and haven’t regretted doing so.

[@izagdlife]

@@BeverlyTalley You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe..?

[@thamad311]

@debbie765 This is the Fourth time I'm seeing someone talking about Sarah Alma as there are lot of testimonies about her, do you know her ? if yes , did you invest with her.?

[@josefperry3836]

A friend of mine recently passed away. He lived a very simple life: he rented; never owned anything; not even a watch; went on vacations only when his children were growing up. At his eulogy I found out he was a real estate developer.

[@davegibbs6592]

Well said , been retired for a long time and have done almost everything on list. No regrets on most but can see where it is easy to get in trouble. Feel lucky that our primary home is in a beach community where we enjoy every day and hate to leave.

[@paulmoss7940]

Lol. Just bought myself a nice ten year old Corvette. At 63, my second one since retiring at 57 . I'm divorced and my son is grown. My bud asked me if I was gonna leave my bag for someone else to spend. Decided I could afford my dream car after all. I paid cash cause that's how I roll. Its a blast. And all these ladies that seem to be plentiful and friendly..... should be on your list at #1 because they can be more dangerous to your bottom line than some of those tangible assets .

[@TheFishdoctor1952]

Funny how most of the people that say/complain their neighbors have money but don't spend much, are the neighbors that don't have much money to spend.