I’m Almost Retired - EXCITED and READY!

[@libbysworld7649]

This video is great. I am still a ways out from retiring but I'm very close to your age. You are an inspiration. Thanks you for sharing your journey with us!

[@retireearlywithme]

You are so welcome and thank you for the support

[@donnae1994]

So proud of you. I have been retired for 9 years. One little hint is always know what you are doing the next day, even if it is just something simple. Have something to look forward to everyday. :)

[@retireearlywithme]

Great tip! At the very least, I look forward to exercising and getting my 10,000 daily steps. It’s something small but it is a goal.

[@woodsparker7902]

I am excited for you! Your enthusiasm shines in your presentation.

[@retireearlywithme]

Thank you so much!

[@nakendraperry6264]

I love all of your videos. You are such an inspiration. Just goes to show you don’t have to attend college to be successful. I love it. Please film next week and tell Mom, from YT “hello”.

[@retireearlywithme]

I’ll tell her for sure. Thank you.

[@Imposter-yd4xn]

Love the channel, its upbeat and comical in a world filled with doom and anger its refreshing to watch. I was let go at age 50... spent 5 years enjoying life, free, i returned back to work now, planning on kicking some cash in a pile for future uses. Keep the channel going my friend. Great work!!

[@retireearlywithme]

Thank you so much. My plan is to take six months to a year and just relax and figure things out. Maybe get a small 10 or 15 hour a week job at some point. I’m glad you’re enjoying the channel.

[@Drew-l3r]

You’ll be fine! Helpful content, I’m not far away from retirement. I’m getting excited 😂 Have a great day.😊

[@retireearlywithme]

Thank you! You too!

[@oldtimejunkhauling]

I enjoy the content you’re putting out. I’ll continue to watch your retirement journey.

[@retireearlywithme]

Thank you so much for the support. Greatly appreciated.

[@surfboard396]

Just do it you mook. I retired early. Debt free. No regrets. Stress level drops way down. ✌🏽

[@retireearlywithme]

👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻

[@OurRetireEarlyJourney]

We are very happy for you! We can't wait to be in your shoes.

[@retireearlywithme]

Thank you so much!

[@4040smokey]

We are on the same schedule. It was the same for me. The thought of retirement went from trepidation and worry to joy. Like flipping a switch. Ready or not this is happening!

[@retireearlywithme]

Ready or not is correct. I’ll slowly figure things out and make changes if and when necessary. Hoping for the best.

[@taurus-pl2vt]

Congratulations on your milestone. This is an amazing accomplishment! What do you plan on doing on your spare time; reading, painting, traveling?

[@retireearlywithme]

Exercising. Video games. Spending more time with my mother and sister. Reading. And figuring out the rest as I go. Maybe I’ll find some new hobbies as well.

[@taurus-pl2vt]

@@retireearlywithme that all sounds excellent!

[@dyates6380]

Congratulations! I retired two years ago Monday at age 65, and LOVE, LOVE, LOVE it. Enjoy, live below your means, and you will be doing great. You had me laughing about your drinking. I drink way more than I should, and have for decades - and I'm cool with it. I never let it affect my working life, my health or my relationship and I am strictly a beer drinker. I go to the local bar, about two miles from the house maybe three times a week. Like you, draft beer - I always have three of them for three bucks and I always leave a dollar tip for each one, so twelve dollars at the bar each time I go. I always tell myself that with my high yield money market account alone and not even counting my portfolio or my bank accounts, I make ten dollars a day, every day, so I don't sweat it. LOL. I do have a few at home as well though, but I'm cool with it. Maybe one day I'll try to cut back like you and take a few months off, but it's my only vice I've ever had in my life (no gambling, no smoking, no drugs, no ripping and running around), and so I enjoy a couple brews. Personally, I take out less than two percent of my portfolio, and the rule of thumb is 4% annually. Now it's only about 1.7% that I'm taking, and bar something catastrophic happening, I'll have enough until I'm well into my late nineties and above, but I'll never see that so I'm good. In other words, with my frugal living and how both my wife and I are and always have been excellent with money, we are very comfortable. Again, live below your means and it's easy. Again, congratulations man and ENJOY. I really enjoyed this.

[@retireearlywithme]

Wow. That was an awesome read (your comment). I’m actually at the bar downstairs at this very moment replying to your comment 😂🍺😂🍺 I live so frugal and have for so long , doing the same in retirement will be no problem. I’m in a totally new area, so chatting with people at the bar is entertaining and I’m meeting new people. I appreciate the time you took to write this. Have an awesome weekend 👍🏻👍🏻

[@ChristopherEvans-650]

In the same boat. 6 months into retirement and my expenses are less than 1% of my portfolio. Getting by on only $800 a month. I am living a spartan lifestyle right now as my first goal in retirement is to get myself into the shape possible. Also handled many big-ticket expenses before retirement.

[@Middleagegrind]

You've worked and plan for this. Enjoy your retirement!

[@retireearlywithme]

Thank you

[@oscarferreira1]

Multi generation chat videos are awesome! 👍🏼

[@retireearlywithme]

Glad you liked it 👍🏻

[@DebK-y7k]

Another great video. Enjoy your time with your Mom. Safe trip.

[@retireearlywithme]

Thank you very much

[@georgeseros9007]

Hey Peter, hope you had a great Thanksgiving. Keep enjoying life and keep the videos coming. Take care and safe travels Thursday.

[@retireearlywithme]

Thank you

[@brendabrenda6403]

So happy for you, congratulations 🎉

[@retireearlywithme]

Thank you so much!!

[@FernFins]

Congrats! Thank you for sharing. Enjoy your free time.

[@retireearlywithme]

Thank you so much

[@lizstyles4611]

So excited for you! 😊

[@retireearlywithme]

Thank you!! 🙏🏻

[@blake6494]

You the man! I'm currently 39 and 62 days away from paying off my mortgage. Been slowly transitioning from mortgage payoff videos over the years to recently retirement videos and can safely say your channel has helped me tremendously with perspective on both. Thank you for that. I'm a teacher with about 7.5 years to go before I can retire with a pension for life plus a separate investment account I plan on really hammering on once the mortgage is paid off. Been really struggling with whether or not I should've invested or paid down the mortgage but folks like you and everyone else I've heard from have never regretted it. Not sure if I'll pull the trigger on retirement when i get to that point but man keep the videos up and I just might lol. Congrats on living the dream!

[@retireearlywithme]

So happy to hear my videos are inspiring you and the very least you’re enjoying them. Yes I paid off my mortgage a year and a half ago and it was one of the most satisfying things I’ve done. I’ve never regretted it for a second. You’ll know when you’re ready to retire. I feel I’m ready. But there’s still a possibility six months a year from now I get a small 10 or 15 hour a week job just for something to do, get out of the house, and meet some new people. I’ll keep you updated. Please do the same.

[@blake6494]

@retireearlywithme I appreciate the reassurance and will definitely stay tuned to the channel to see what develops for you!

[@VeteransHamShack]

How do you like living in a mixed-living building? Is it noisy? How much research did you put into finding the place? Your condo will be perfect for my needs when I retire and a bar and restaurant downstairs even better lol

[@retireearlywithme]

I love the building. I did a little bit of research before him, but not a tremendous amount not noisy at all. I don’t have my neighbors or any of the commercial activity on the bottom floor.

[@RetiredFarmboy]

Glad you are excited about retirement! You are frugal so you will be fine but do enjoy yourself sometimes!

[@retireearlywithme]

I will for sure 👍🏻

[@planefun42]

Peter, on health insurance, if you retire at the beginning of the month, you may have coverage until the end of month. It should be enough time to get your ACA plan going with no lapse in coverage.

[@retireearlywithme]

That’s what I’m hoping for. Hopefully if I do have a lapse, it’ll be very very short.

[@noreenn6976]

​@@retireearlywithmeget your ACA application in early to avoid a lapse.

[@ChristopherEvans-650]

@@retireearlywithme Have you asked your employer? I burned my remaining vacation time, so my last day of work was June 30th, even though my last working day was May 18th. My ACA health coverage started on July 1st.

[@Financefunandfitness]

Congratulations Kris Kringle.

[@retireearlywithme]

🎅🏻😂🎅🏻😂👍🏻👍🏻

[@dancurran8977]

I am excited for you!

[@retireearlywithme]

Thank you for the support

[@mekon1971]

Yup - play video games and watch a lot of KZbin. Love retirement :) Something else to look at is how far is the closest library and senior/community center. I don't get all the senior center benefits, but was surprised that I could join at 50 for..... $15/year. They have some interesting classes and activities that are free with membership. The library has lots of videos, books, audiobooks, and etc. Plus a lot of libraries have things like Kanopy where you can stream movies/shows for free.

[@retireearlywithme]

Yes. I know my mom goes to the library all the time. And other people I know of retired. Mention the library and some senior centers. Lots of activities and people to meet.

[@72Dexter72Manley72]

I'm 59 and going to start working part time at 60 years old. I own 2 properties in the mountains. Putting a small home on one. The other property has a mobile home on it I rebuilt. No mortgage. No rent payments. I work out 2-3 times a week. And very healthy. 👍🏾

[@retireearlywithme]

Sounds like you’re doing awesome for yourself. I’ll see how the first six months of year goes and then possibly get a part-time job working 10 to 15 hours a week if I need to. Just to get out of the house and meet some people and some extra money. Continued success.

[@72Dexter72Manley72]

@retireearlywithme Appreciate it. Just trying to plan things out for my future. The part time work is just to keep me busy a few days a week. No weekend work though. I know the tiny home style house isn't for everyone but it is fine for me. Should be interesting to say the least.

[@RichieRich-pn3gg]

player player. Nice you looking for a little companionship. Much needed.

[@retireearlywithme]

👍🏻👍🏻👍🏻

[@davidnprogress]

Do people at work know your plan? It would be an interesting video to hear the feedback from this last year. I found it weird that few people asked questions about how I was able to do this.

[@retireearlywithme]

I’ve only told a couple of people at work. Trying to keep everything quiet until January 1. The people I told have all been very close friends. Once I do start telling people I’ll let you know and more than likely do a video.

[@fxdnny]

I’m assuming the standard deduction will help lower your taxes for ACA

[@retireearlywithme]

I believe it will as well 👍🏻👍🏻

[@amycolucci6769]

Im 41 …. Omg cant wait to retireeee

[@retireearlywithme]

You can do it

[@golt4576]

Keep going. After you retire would be nice to know your NW.

[@retireearlywithme]

Yes, once I’m retired and no longer working I’ll go over all my details in a video

[@fitnessboost401]

Congrats

[@retireearlywithme]

Thank you

[@paul_domici]

Now's the time to get a Santa suite and go work the malls 👍👍👍

[@retireearlywithme]

🎅🏻🎅🏻🎅🏻🎅🏻🎅🏻🎅🏻🎅🏻🎅🏻

[@buckstarhymes]

Love your videos, BTW! You're real and speak off the cuff, which is refreshing in a KZbin world filled with BS'ers and fake people. I do have a question for you though. I'm looking to hopefully be in your position within the next year or so. Now that you're in early retired, do you have a weird feeling that you should be working? It's hard to explain. I guess for me, because I've been in the same company for almost 30 years now, I'm thinking it might be strange mentally to no longer work. Do you ever feel like there's something missing?

[@retireearlywithme]

I haven’t retired just yet. I’ll be retiring in early January. I already have that feeling of. Should I keep working for another couple years or not. But I’m not gonna get this time back so I’m going to retire and see how it goes. I can always go get a part-time job if I want to get out of the house and meet some new people.

[@buckstarhymes]

@@retireearlywithme That's right, that's right I forgot that it was in January. I think that if you're ready and prepared for retirement, then that feeling should pass over time, at least I would think? I'm only 48, but I have investments that look like they may pay off in the coming year or two. Congrats on the new place btw.

[@noreenn6976]

Glad you're excited to retire. Good for you!

[@retireearlywithme]

Yes! Thank you! 🙏🏻

[@noreenn6976]

Keep up n mind, with many/most of the high deductible ACA plans, when you meet the deductible, the remaining expenses are covered 100%. A little known perk of high deductible plans.

[@retireearlywithme]

Good point! 👍🏻👍🏻👍🏻

[@ChristopherEvans-650]

Also, check if your plan allows you for an HSA. If so, fund it out each year. $5,300 for 2025. It has a triple tax advantage. Reduces your ACA MAGI, tax free growth like a Roth and as long as you use it for future medical expenses, it will be tax free.

[@debchalker6900]

You can probably write off your internet (any expenses) from your taxes since your KZbin is a business.

[@retireearlywithme]

Someone had mentioned that to me as well. Something I need to take into consideration thank you.

[@RetireYoungAndCheap]

The Rule of 55 is great, I was planning on using that to my advantage as well but i'll be retiring in the year I turn 51 (I can't wait til 55 for a number of reasons). I do think i'll be ok too though the way I live and what I have (i haven't even been counting interest or anything so.. I'm thinking i'm a lot like you). I am excited too, a little more nervous than you though lol... but January is coming fast and I plan on retiring around the same time as you. Being alone isn't a bad thing either, everyone wants/needs different things. You have a good head on your shoulders though and seem to have a lot of the same thoughts as me....

[@retireearlywithme]

51? That’s pretty nice 👍🏻 January will be here before we know it. Let’s be ready.

[@RetireYoungAndCheap]

@@retireearlywithme Wasn't my plan, but things happen in life that make you change plans sometimes. Might be a good thing in the long run (or a bad thing... we'll see lol).

[@RetireYoungAndCheap]

@@retireearlywithme I do have a question for you. You mentioned the Monte Carlo simulation.... do you know what number you put in for your withdrawel? I'm just curious as I know your expenses and i'm just wondering if you are putting in a higher number than your expenses in that (fun money) as well? I play with the simulations myself so I do all kinds of numbers to see where I would stand but just curious to what number you are using to have 150%.

[@retireearlywithme]

@@RetireYoungAndCheap I don’t put in a percentage of what I’m pulling out. I just put in a total of what I’m pulling out. I think I have my expenses set at 1400 in my pay money set at 400 a month. And it still gives me a number of 150. i’d have to go to about 2200 a month in total to bring that down to about 125 I believe I can’t remember at the top of my head. I could be off on the little hair or there, but from what I believe the last time I ran at those were the numbers.I hope that helps.

[@RetireYoungAndCheap]

@@retireearlywithme That does help. I was just curious, thanks!

[@patiencezero-xc9zl]

I retired about a month ago and each morning I am feeling better and better! Rule of 55 is awesome! Don't forget what I told you.....at least I think I did.....about using cash first if you can so you can get a subsidy for health insurance. The government will base your subsidy on REPORTABLE income. Cash was already taxed so only the interest earned is reported as income. This also explains why many are interested in investing in physical precious metals. ;-) EDIT: Watched the rest of the video and realized you know all that. :-)

[@retireearlywithme]

That’s wonderful to hear. I’m hoping to feel the same.

[@christinenganga9124]

I watched till the end.

[@retireearlywithme]

👍🏻👍🏻❤️❤️💯💯

[@paulhi9228]

You might want to think about Roth conversions to reduce your future RMDs

[@retireearlywithme]

RDMs are years and years away. It’s something I’ll be thinking about at some point

[@Mitzi73]

@@retireearlywithmeIf your tax-deferred funds are reasonable, you can spend those down before mid-70’s and owe minimal RMDs.

[@retireearlywithme]

@ 100%. I have a ways to go before I need to worry about that but it’s always something to take into consideration.

[@ChristopherEvans-650]

@@retireearlywithme Actually, it's something you want to consider now if you want to minimize your tax liability. Having 15 to 20 years to convert in the lower tax bracket, now will prevent the possibility of the Social Security tax torpedo of forced RMD's causing your SS benefits being 85% taxed.

[@Triumph60Gem]

Come clean brother… Where is your seasonal Santa Gig? Amazing beard transformation! Execute the PLAN! No worries 🎉

[@retireearlywithme]

😂😂🎅🏻🎅🏻 Thank you 🙏🏻

[@noreenn6976]

​@@retireearlywithmethe kids would love a Santa with a real beard, go for it Peter!

[@larrythomas6068]

Dont forget your standard deduction, i think its around 14 grand

[@retireearlywithme]

Yes, I forgot to mention that but thank you

[@Broker-in-Maine]

Hey Peter- You always make me laugh. Hope you enjoy the time up here in the Northeast! We had snow on Thanksgiving day here in Maine! You are all set up to retire so no worries. If you some day make 30-40k a year on KZbin then who cares about the taxes! lol… Cheers-

[@retireearlywithme]

Can you imagine? That’s beautiful would be amazing 🤩 I used to visit Maine as a kid once in a while to Bangor I believe. We used to always go to Lake Winnipesaukee in New Hampshire as well. Such a beautiful place.

[@Broker-in-Maine]

@ yes we love it in the Sunmer here. We have a boat on Sebago which is a beautiful clean lake we have as our drinking water supply to all of the towns around it! If you find yourself up this way.. drop Me a note. Cheers!

[@leisure057blank3]

Can you explain again how you are able to only spend less than $200 a month on food for a month? I can’t quite wrap my head around that. Keep track for a few weeks and tell us what you ate. Thanks!

[@retireearlywithme]

I did a video a few months ago where I documented everything I ate for a week. I forget the title of the video but it’s on my channel here 👍🏻👍🏻

[@leisure057blank3]

@@retireearlywithme thanks I will look for it.

[@mattkoman2599]

Was your 401k contributions all in traditional pre tax or did you put in the Roth 401k?

[@retireearlywithme]

100% traditional 401(k)

[@Robs63]

Congratulations and look where your at now retiring way before 60 that’s awesome I was 60 4 years in am very happy for you Yea Definitely Celebrate I did same thing ❤😊😆

[@debchalker6900]

Don't forget to live a little, lol.🎉

[@retireearlywithme]

For sure 👍🏻

[@sting114]

Are you planning to travel the world?

[@retireearlywithme]

Not at this time

[@rubyred8845]

Maybe if you like you could consider volunteering if you wish or have the free time, that will help you meet new people in your community.

[@retireearlywithme]

That’s something I’ve definitely considered as well. Giving back to the community.

[@DogWalker-i2k]

Can you set up a traditional IRA to lower your income and defer your taxable earnings? Then you can take the money out post ACA. You can do this before 2025 taxes are due April 2025. Also, you could maximize your 401k contribution.

[@retireearlywithme]

My expenses and budget is very low. So I’m gonna try to keep things simple and just do my 401(k). I’ll slowly learn as I go into retirement. And make changes if and when necessary slowly figure it out.

[@noreenn6976]

​@@retireearlywithmeonce the rule off 55 passes, switch to a traditional IRA with Fidelity, lower expense ratios and no extra fees like with the 401k

[@ChristopherEvans-650]

@@noreenn6976 No!No!No! If he does that, he will not have access to his funds until 59 1/2 or he will be penalized 10%. Rule of 55 states that you can only take funds out without penalty from the 401k of his last employer at the time of retirement. He must keep his 401k. He can roll it over at 59 1/2, then he will be OK.

[@asookdeo316]

You’re the splitting image of Santa Claus, unbelievable likeness,

[@retireearlywithme]

A lot of people are saying that now. I enjoy it. 🎅🏻🎅🏻🎅🏻🎅🏻🎅🏻🎅🏻🎅🏻

[@debrahill2272]

So you reside in a live, work, play community..👍👍

[@retireearlywithme]

I think some people call it that. I guess it’s more of popularly called a mixed use. I lived in places like this when I was living in Connecticut, Rhode Island in Massachusetts. I enjoy a decent amount of activity, people watching, and able to walk to a lot of different places.

[@Pgeezykid]

Go to Thailand for a short trip. I think the beard will get a positive review.

[@retireearlywithme]

👍🏻👍🏻

[@kimpatterson8741]

❤

[@retireearlywithme]

👍🏻💯❤️

[@buckstarhymes]

Be careful! A failed marriage can and will change the trajectory of a solid plan. Definitely look into a prenuptial agreement.

[@retireearlywithme]

Yes. I was married for 11 years happily divorced for 21. Not again.

[@buckstarhymes]

@@retireearlywithme Ditto. Marriage proved to be the worst investment I've ever made. I'll remain happily single as well.

[@Susan-lh1fg]

How many x’s do you have ? ? ?

[@retireearlywithme]

A few. I’m 54 so I should have a few by now

[@jamescrowley3398]

Shave the beard man

[@retireearlywithme]

Maybe sometime soon