How Not To Ruin Your Retirement - In 2023

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This Is Our Retirement

This Is Our Retirement

Күн бұрын

Пікірлер: 599
@33Jenesis
@33Jenesis Жыл бұрын
My job (before retiring) was real estate tax related for a local jurisdiction. I lost count how many seniors I talked to who couldn’t pay property tax. The homes were free and clear, worth half to several millions market value. Because they were old without big social security income and dwindling retirement savings, they couldn’t refinance to get money from equity., I always told them to sell it and down size. The resistance was fierce. I have also field checked homes after long time owners died. The state of disrepair and how senior unfriendly the layout and topography was saddening. It showed me how difficult their last leg in life had been. One lesson I have learned from dealing with taxpayers is that after a certain age (say 75), change becomes insurmountable. They can’t adapt to a new town/new doctor, new life style, drastic possession purging, etc.. If the house/condo you own is the biggest asset and retirement saving, if your home is going to trap you (due to mobility issues in old age), don’t wait. Plan your move to an age in place home before you are muddled thus at the mercy of your children (need help). After you cash out, don’t let your kids talk you into loaning them money or investing in their schemes.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
You are so right Jen, being trapped by your house is serious, at the time you need mobility aids you can’t afford them. In Canada some municipalities are offering deferred property tax to be paid from the estate. The problem is if you can’t do the maintenance the million dollar home in today’s value that was bought in the sixties ain’t worth a million. Quality of life in retirement make the decisions while you are still vital. Thanks so much for sharing your thoughts.
@caroleanne8529
@caroleanne8529 Жыл бұрын
jen3329 Also, do not let adult children talk you into selling your house and giving them the money to buy a large house for you to live with them. That seldom works out and when the parent decides to move out to an apartment, they are penniless.
@AndyCColeman
@AndyCColeman Жыл бұрын
Thanks Jen - that is fantastic information! I had thought change would be harder at a certain age (my mother in law is 85 and we are seeing that). Property taxes are definitely a concern. Here in Texas, while we don't have income tax, our property taxes are very high. Our 2 story home will eventually be senior unfriendly also - something for us to keep in mind. I really appreciate you sharing your real world experience.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing 🍷
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Happy New Year Andy Cheers 🇺🇸🍷🇨🇦
@jackimyers9364
@jackimyers9364 Жыл бұрын
I was an insurance lawyer. Here's another recommendation: Get new auto and homeowner's insurance every several years with a different insurance company. You will probably pay lower rates. I insured two cars with one insurance company for 4 years. Reinsuring them with another carrier this year, I will pay $540 less in premiums.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Great tip 🚗🏡 Jacki thanks for sharing we did that couple of years ago and saved a lot when we changed Cheers 🍷🙂🍺
@valerieparr4454
@valerieparr4454 Жыл бұрын
Best advice I ever got was as a university grad I should check into a certain insurance provider. We have saved thousands on home insurance as a result of one simple internet look up and phone call.
@grandpa_eric
@grandpa_eric Жыл бұрын
Hey there 👋Norm & Tina, you have such great advice! Some things we do now, others need action. A few things we do to save are 1) Make our own coffee in the morning, and if we go out, take it in a travel cup- we never go to big bucks Starbucks. 2) Regulate the thermostat and reduce energy consumption- we wear cozy fleece in the cool months, and short & t-shirts in the hot. 3) Combine errands and make one outing to save gas. That’s all for now. We enjoy your insights each week. Thank you so much!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Looks like you have some great tips Eric thanks for sharing we hope you are having an awesome weekend Cheers 🇺🇸🍷🌺🍺🇨🇦
@Jane-xt4lu
@Jane-xt4lu Жыл бұрын
Thanks for those tips. Here's one: don't make drastic changes in your lifestyle and location without a very long test run. I bought a house in a different part of the country after retirement, but I'd lived here before. However, I know many people who only made a one day visit with a real estate agent at the height of summer - and now complain about the rain, miss their friends and family, but say they can't go back because prices are too high...or someone who bought a new boat to live in the Caribbean after a 1 week stay on land: no planning for hurricanes, the extremely cramped conditions, lack of sailing experience - lost a huge amount when trying to sell the 3 year used boat, and nowhere to come back to...be sensible and spend lots of time testing out the lifestyle, renting for a year, say, before burning your bridges.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
So true Jane thanks for sharing have a wonderful weekend Cheers 🍷🌺🍺🙂
@septemberprice3652
@septemberprice3652 Жыл бұрын
That is very good advice. When making a big change, like moving into retirement, it's easy to paint a very rosy picture of some brand new lifestyle in your head. But, I , also, have seen many people lose a ton of money paying for that mistake. Test drive the lifestyle change before you buy!
@NorthernLibrarian
@NorthernLibrarian Жыл бұрын
Excellent comment. I have 3 former coworkers and 2 neighbours who followed their dreams of moving to cottage country. Summers are beautiful, winters are challenging. Several found you are never truly accepted by the year round long time residents. 4 became widows within a couple of years and found they couldn't deal with living there on their own and had to sell and move back here. They also mentioned that the lack of close major medical centres in cottage country made their spouses illness extra challenging. One lady didn't know how to drive so was totally stranded far from family, friends and transportation. Do a full season test run if this is your retirement dream.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Great advice 🌺
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Wow thanks for sharing Susan sometimes you think the grass is always greener but then it’s not 🤔
@joannewynn4431
@joannewynn4431 Жыл бұрын
My mother told me when I was a young adult that I should always have a credit card as the primary account holder, to build credit but also incase something happened to my husband. I lost my husband almost 3 years ago (in my early 50’s) and I am grateful that I had that card as the primary account holder plus all our bank accounts as joint accounts. A much easier process during a horrific time. 💔 I hope people will listen to you about it.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That was great advice Joanne from your Mother. We are sorry about your loss.
@broniaciarniello5234
@broniaciarniello5234 Жыл бұрын
Hi Norm and Tina - another reason to have a second credit card is when travelling. While travelling solo in Europe several years ago my credit card was hacked, leaving me with only my bank card to access funds for the last week of my trip, which included payment of a hotel stay that had been booked with a now cancelled card. 😱 Lesson learned. I always have an 'emergency' card on hand while travelling now! Enjoy your content!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing Bronia as you said lesson learned we have all had those moments Cheers 🍷🙂🍺
@ddavidson5
@ddavidson5 Жыл бұрын
I totally agree with the "one purse" idea. We've used that approach for our entire marriage (just over 40 years so far) and it is so much easier to manage finances rather than trying to juggle who pays for what. It also happened that later in my career I earned quite a bit more money than my wife but as it was one account all the money was "our money". If either of us earned more then we both earned more. It may have nothing to do with it but all of our friends that kept separate accounts throughout their marriage are now divorced. One thing I do is call my long time cable/internet provider and ask for a better deal. They always offer a good discount for a fixed term, often 2 or 3 years, and I write the deal expiry date on my calendar so I know when to call them for the next deal. They certainly won't tell you when your deal ends and they'll bill you at the regular rate until you notice it's gone up by $50 a month or more and you call them again. You don't have to take their first offer either and you may be able to squeeze another $10 or so monthly out of them, it's worth a try anyway.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Great comment thanks for sharing, we do the same with internet trying to get them to roll back increases, generally it works well. We are fans of the forum in Canada Red Flag Deals and keep an eye on the “hot deals” forum, some great tips from fellow viewers. Have a good Sunday and thanks for watching.
@gailbrown9379
@gailbrown9379 8 ай бұрын
Good idea, thanks
@juliemarkham4332
@juliemarkham4332 Жыл бұрын
Good tips! Another situation (which happened to my 87 year-old mom) is when "one purse" is only in the husband's name.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Oh yikes Julie thanks for sharing have a wonderful weekend Cheers 🌺🙂🍷
@gkennedy2998
@gkennedy2998 Жыл бұрын
If I may suggest, it might be advantageous to call your service providers annually to ask for a better deal or rate on your services. Making a toll free call to your insurer or phone company or utility company could result in a nice discount on your monthly expenses. Never hurts to ask.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Totally agree with you have a wonderful weekend Cheers 🍷🌺🍺
@scott1441
@scott1441 Жыл бұрын
My wife and I have always had separate investment and checking accounts for the sake of independent financial freedom. We both earned income and shared our passcodes to all accounts, and it’s never been an issue in our marriage and have enjoyed a successful retirement
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing Scott.
@youngrc212
@youngrc212 Жыл бұрын
Thanks for the videos! I think health and fitness is another thing that often gets put off too long. I think of the phrase "use it or lose it" and also "it's much easier to stay in shape than to get in shape." I want to maintain my physical abilities as long as I can in order to do more and enjoy more later in life.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Yes without health we have nothing, we love your quotes so very true.
@miked1102
@miked1102 Жыл бұрын
Heard a new saying from a 91 year old at our gym today. Rest equals Rust.
@MrGman2804
@MrGman2804 Жыл бұрын
My tip/advice to people is to set up a power of attorney while you are well and able. My parents have had a bad time in the past year with mum having a stroke. Dad is 92, and mum is 83, but they had not set up any power of attorney. After mum's stroke dad was too upset to think about setting up a power of attorney in the first few months. This meant I was unable to do even basic things for either of them as regards managing their affairs or paying bills etc. We have done it now, but I would strongly recommend in retirement to choose someone, either a son or a daughter or someone you trust dearly, and get it all in place ASAP. You can decide when it kicks in, but don't leave it until you are in an emergency. Get it done while everything is stable. You then have peace of mind that should the worst happen, people can act for you without hindrance if you ever need it... which you may not ever need....However, if you do need it, and you have not done it, it is a total nightmare for your loved ones trying to help you out. I imagine the court processes are very similar in both the USA and Canada to those we have in the UK. You don't want your loved ones to have to do it that way. It is a total nightmare.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Wow thanks so much for sharing it’s strange how so many people don’t want to think about what could happen in the future and don’t appoint POA or indeed lots don’t even make a will 😱As we get older we should all face these decisions to make it easier if and when medical things happen . Have a great weekend Cheers 🇬🇧🍷🇨🇦🙂🍺
@MrGman2804
@MrGman2804 Жыл бұрын
@@ThisIsOurRetirement 👍😉
@minoozolala
@minoozolala Жыл бұрын
@@ThisIsOurRetirement I suggested that my parents get everything in order once they were in their early 70s. They took my advice and composed a letter to the 3 children with information about all their assets, who managed their investments, exactly where in the house their bank account, etc., details were, POA and Executor info, their funeral director (they bought their funeral lots and paid for their funerals beforehand), a list of everyone they wanted notified in case of death, with addresses and phone numbers. They informed us about their DNR forms. They also wrote out the bare bones of each of their obituaries so we could just fill in a few more details. Every few years they would update the letter. It was tremendously helpful. Even so, one of my brothers started to steal cash from my father after my mother passed. I had to spend thousands on a lawyer to keep him under control but it protected my father and his assets. One must be extremely careful about who one chooses as a POA and never make decisions without notifying someone else. My brother manipulated my beautiful parents to make him sole POA and sole Executor of the Will just a couple of years before they passed, when they were weak and ill (the lawyer stopped my brother from forcing my father to change the Will). It is shocking how some people change when they smell money.
@poges
@poges Жыл бұрын
I didn't know it would be a problem until I divorced and then moved out on my own to find all the companies like hydro and phone service wanted a deposit as I had no credit score. That was a shock. So now I'm on my second relationship and I have everything separate, bank acct, cards, etc. Good tips guys. I'll have to think about the second credit card with a low limit.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Sorry to hear Rhoda that you learned the hard way , for years we had no idea 🤷‍♀️ about this , glad you are well organized now have a wonderful weekend Cheers 🍷🌺🙂
@twotipsytravelers6701
@twotipsytravelers6701 Жыл бұрын
Great video as usual. One thing we do with our points card , in addition to paying everything off every month, is to wait until there are multi-points days, e.g., 25x the points on a certain day. We are at the point where there is nothing we need right away. Any extra fun item can certainly wait. Last summer we bought kayaks on a Canadian Tire 20x the points day. The amount of points paid for an air fryer. Nothing makes us happier than getting something for free! Take care Norm and Tina!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That's a great idea! waiting for multi point days hope you both are well and having a great weekend Cheers and Happy New Year 🍷🙂🌺🥳
@kenmcclow8963
@kenmcclow8963 Жыл бұрын
I have been using a shuttle bus to go to and from the airport which often saves money over airport parking. They have been extending light rail closer to my house, so some time after I die the future owners of my house will be able to just take a train to the airport. I had always planned to sell my house when I retire and move to a cheaper house or condo, or just try to AirBnB places for a month each, but the real estate market seems to have changed rapidly, so I might keep the house another year or two after I retire and do fix up project with my free labor
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing Ken have a wonderful weekend Cheers 🍺🌺
@dlg5485
@dlg5485 Жыл бұрын
Paying certain expenses annually instead of monthly is such a smart and simple way to save a bit of money. I know I should do this, but never have for some silly reason.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
It’s free money lol
@mariconor242
@mariconor242 Жыл бұрын
Yes! I do this for car/house/life insurances, disney/apple+/Prime (got rid of netflix as they didn't have an annual pay option). I divert the costs of all into a bucket account each month so that I don't get hit with a surprise cost one month.
@tconnely6437
@tconnely6437 Жыл бұрын
I really enjoy both of you each Saturday! I am 57 years old here in Arizona. You provide valuable information that I haven’t thought about until finding you both. I thank both of you very much for sharing your lives and information with all of us each week! 😃
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Our pleasure! we hope you have an awesome weekend Cheers 🇺🇸🍷🍺🇨🇦🌺
@tconnely6437
@tconnely6437 Жыл бұрын
@@fjohn8985 thank you for the referral, John! I will definitely check it out! 😃
@evadeanu1
@evadeanu1 Жыл бұрын
Wise advice as always! We started paying our yearly car/house insurance, property taxes yearly rather then monthly and what a relief has been knowing the monthly income stays intact until we spend it. It’s so easy to budget as well.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That’s great Enid paying this way works for us too have a wonderful weekend Cheers 🍷🌺😎
@nancytrevino9750
@nancytrevino9750 Жыл бұрын
My husband and I both retired in 2022. We’ve had our money co-mingled since just before we got married. All of our accounts have both of us. All of your advice was great as usual. Only one thing we can’t do is the water with lemon. We are going to be moving to Cuenca Ecuador and most places you can’t drink the water. Tea is ok since boiled. I use Apple Card for online purchases as they use a different number for it. Thanks again for the great video. 😊
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Wow Ecuador we looked at that some years ago, well done have a great time!
@WhatWeDoChannel
@WhatWeDoChannel Жыл бұрын
We aren’t retired yet but it will be our next great adventure. It’s always been our money, not yours and mine, separate accounts is already one degree of separation. Thanks for the great advice! Klaus
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Well said! thanks for watching and we wish you both a great retirement Cheers 🍷🌺🍺
@soniamoss734
@soniamoss734 Жыл бұрын
We have always had joint accounts for about 80% of our pooled income and have always budgeted our lifestyle based on that 80% including joint savings. The last 20% gets directed to respective personal accounts for each to do as they wish. It has worked really well for us in 38 years of marriage. We are generally careful with our money and over the years (especially in the earlier years), whenever we have been faced with an unexpected expense or loss, one or the other of us has been able to 'come to the rescue' because we had these separate (off the books) resources. It always feels so good to be the rescuer and so loved to be rescued.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing Sonia sounds like a great plan that works for you hope you have a wonderful weekend Cheers 🍷🌺🙂
@pensacola321
@pensacola321 Жыл бұрын
We go after credit card points very aggressively. Had cash back of about $1,500 last year. Of course I pay no interest... never assume that your insurance company is your friend. Shop your Auto and homeowners etc insurance at least every two years.. drinks or dessert in a restaurant are a dilemma. I can afford them, but I do hate paying those prices. I tend not to. We always enjoy your Saturday morning videos.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks so much, we are like you can afford this stuff but do we want to be fleeced. We both appreciate your support it means a lot.
@benyablonski6278
@benyablonski6278 Жыл бұрын
Good Morning Tina, Norm, • good advice about a 2nd credit card at a low limit. Especially for online purchasing. • paying bills annually. Yes it does save, lots of quiet extra fees. Takes a little bit of planning. • GREAT show, appreciate it.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Glad you enjoyed it Ben hope you are having an awesome weekend Cheers 🍺🌺🙂
@sct4040
@sct4040 Жыл бұрын
I don’t agree to having only joint accounts, we have set up beneficiaries on all our accounts. As a working woman years before legally married, I will always have my own accounts and credit cards. With the divorce rate at 60%, we need to protect ourselves. Unfortunately, not all husbands are keepers.
@The0Patt
@The0Patt Жыл бұрын
Totally see your point. My parents, although never divorced, maintained separate accounts. My dad was a drinking man and my mom needed to protect herself and the family etc.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing agree you need to protect yourself but you also have to trust your partner as well , have a great weekend Cheers 🌺🍷
@gregj1241
@gregj1241 Жыл бұрын
Or wives...
@jerrystpierreofficial
@jerrystpierreofficial Жыл бұрын
Trust. Combined money signifies high trust. We have been married 20 years. Ask I have is hers. All hers is mine. We are one. Great advice!!!
@tertur2957
@tertur2957 Жыл бұрын
My lady friend and I have been together 40 years. Always had separate accounts with each other as beneficiaries and split all expenses 50/50 and have never had any money problems.
@SandraClarke
@SandraClarke Жыл бұрын
Great video! Hello again from Mississauga. I'm 58 and semi-retired, hubby is 63 and 100% retired. We always planned for Gary to retire early because his job (pressman) was so physical. The plan was to retire at 62 but our daughter Emily (27) died from heart transplant complications when Gary was 62 so we decided not to make any changes in our lives for a year. Because our 23-year old son Evan has disabilities we opted not to sell our townhouse and instead leave it to him so that he'll be comfortable living in the only home he's ever known. We have an off the grid cabin near Haliburton. As we age I'm finding the cold winters hard. I have several health problems. I'm looking into trading our cabin for a Florida property. Gary's brother retired in Florida. We LOVE Florida. I'll never 100% retire. ADHD me. We stopped dining out. Restaurants have gone downhill since covid. We keep live simple. Have a great weekend. Sandra
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing Sandra , yes the winters are harder as you get older that’s why we are looking to go to warmer places for 31 days at a time . If we go to Florida for say 3 or 4 months the travel insurance is very high in comparison. Have a wonderful weekend Cheers 🍷🌺🙂
@grandpa_eric
@grandpa_eric Жыл бұрын
Best wishes, Sandra. We lived in Florida for a year- leased at The Villages Lofts of Brownwood. It was pricey but carefree. We moved to Lewes, Delaware because property taxes are minimal and there is no sales tax, lovely climate, and very Senior friendly-plus we’re closer to our grandkids; 2 hours rather than 2 days away. We found Florida too hot & humid & buggy. Best wishes and good health in the New Year! Oh, and I remember the Canadian winters. We lived in Mississauga as well. I was a paper boy. Yikes!!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing Eric it’s hard to find a place to go over the Winter 🥶 Cheers 🇺🇸🍺🇨🇦
@NorthernLibrarian
@NorthernLibrarian Жыл бұрын
I insisted on getting my own credit card when I got married because when my grandfather died in the 70's my grandmother suddenly had no credit and could not get a card of any kind. I keep a limit of $2000 on it for safety reasons and use it for all our online purchases. You have to watch though because the bank is always trying to increase the limit. We find that going out for lunch costs much less than dinner for the same food and you can walk right in and get a table. We stopped buying alcohol when out decades ago because of the high prices. I have ice water and my husband orders Diet Pepsi. Two years ago we stopped drinking alcohol completely and don’t miss it at all. I am cheap and would rather spend the money on my hobbies.
@grandpa_eric
@grandpa_eric Жыл бұрын
Brilliant ideas!! @Susan Barkley Going out for lunch to save on dinner rates, watching out for increased credit limit, and not drinking alcoholic beverages- I’m with you, almost 🍺 I have one occasionally.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That’s great Susan what a great idea for online buying ! you were ahead of us all have a wonderful weekend Cheers 🍷🌺🙂
@glennet9613
@glennet9613 Жыл бұрын
I read in an Australian newspaper recently, but it probably applies everywhere, that credit card companies don’t accept applications from people over 65 and so people with a second card on their spouse’s account can’t get a credit card if their spouse passes.
@Frank-nh9fe
@Frank-nh9fe Жыл бұрын
Tip for your lunches. In some areas, one can hire a cook quite reasonably to come to your house and prepare the meal (and/or teach you how to prepare the meal). Much more fun than a restaurant. Lower cost if shared with 2-3 other couples.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Awesome idea Frank thanks for sharing this.
@richardpodnar5039
@richardpodnar5039 Жыл бұрын
The tip about getting a secured credit card for my spouse (spurred on by your video back in 2021 entitled "The Invisible Woman") has always been a boon for us. She used it for over a year and always paid off the balances faithfully. Since that time she achieved a credit score of over 700 and a brand-new- unsecured card. --- The idea of the second low-limit card is also something we never considered. Thanks for sharing all the great new and improved tips you've found, Tina and Norm 🙂
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We are glad you enjoyed it and have our tips useful Richard , we think the low limit is a great idea , have a wonderful weekend Cheers 🇺🇸🍷🙂🍺
@laurie3085
@laurie3085 Жыл бұрын
Hello! I also pay credit card off monthly. I refuse to pay interest and shipping for anything. My credit card gives cash back which is nice. I also stopped going out for lunch at work and this has saved me a lot. Thanks again for great videos!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing!! have a wonderful weekend Laurie Cheers 🍷🌺🙂
@AGhostInTheMachine
@AGhostInTheMachine Жыл бұрын
Here in the U.S. it does improve the 2nd cardholder's credit score. Another option for security when buying online (or anywhere)...some banks offer the feature where you can create a one-time use 16-digit cc number that expires after a purchase is made, then the purchase shows up on your primary (real) cc statement. That way a hacker, etc can't grab the number and use it since it no longer exists after the initial purchase. Or, some credit cards can be turned off/on using an app, etc so you would only turn it on when needed.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Very interesting Theo thanks for sharing hope you have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺🌺
@grandpa_eric
@grandpa_eric Жыл бұрын
I never knew that, Theo; about the credit card purchase- like disappearing ink! Lol. Great idea.
@septemberprice3652
@septemberprice3652 Жыл бұрын
Thanks, Norm and Tina. I love your videos. To piggyback on your advice about paying bills annually: I would also advise including expected future expenses in the budget. For example, if you know you will need a new car or a new water heater within the next few years. Divide that expense by the time you have to save for it and start socking that money away. I know so many people who are completely surprised by very predictable expenses...the car will need new tires, the roof will need replaced after twenty or thirty years. Good planning can help quite a few financial "emergencies" that often cause people to go into debt.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks so much for sharing your ideas, this is great advice, our friends do this for a new car, they put away $300 per month into a savings account. Planning is probably the most effective way to reduce stress.
@lauraporter3434
@lauraporter3434 Жыл бұрын
Your stuff differs and is refreshing! As a single almost-retired woman in the US there are some big differences, yet I’m getting new ideas - Tnx.
@nancyjorgensen7253
@nancyjorgensen7253 Жыл бұрын
Two or three couples have dine around meals at one another’s home. Eating out has become a special treat.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Yes you are right Nancy and often the meals taste better too LOL 😂😂Cheers 🍷🌺🙂
@sandihunter1260
@sandihunter1260 Жыл бұрын
In our condo if you need a ride to the airport there are a number of retired people that will take you or pick you up. They just do it to be neighbourly. We try to keep our heat off even during the winter during the day and at night turn it off and sleep with flannel duvet covers and sheets. I have always had my own credit card, with a great credit score but we also have one joint credit card and bank accounts.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That’s wonderful Sandi we are about 90 mins from the airport so the taxi works bit far to ask neighbours. Our building this year is so hot 🥵 we are sleeping with the windows open HaHa and we don’t pay for heat ! have a great weekend Cheers 🍷🙂🌺
@LS-id5hc
@LS-id5hc Жыл бұрын
Buy an electric blanket, really warm and so cheap to run. Really popular in the UK also halogen ovens are a third less electric.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
@@LS-id5hc Also get an Airfryer so much quicker and cheaper to use 🌺
@ExpatJourneyOnline
@ExpatJourneyOnline Жыл бұрын
Just found your channel and I love it. I may or may not be binge-watching it. 😃 One thing that we've done to streamline our financial life is to create separate savings accounts with specific purposes. We call these our financial buckets and we deposit into them monthly just like each account is a bill to be paid. We have "buckets" for almost all expenses that are not due monthly. We have an account for travel, for end of life expenses, medical and dental dedictibles, auto repair, pet expenses, household repairs, etc. Each month, we put in an allocated amount. Basically what it does is allows us to have an exact monthly budget that never varies. When we have an expense in one of those categories, we simply withdraw from the proper bucket. We never have to rob from Peter to pay Paul. Note: many online banks (we use Capital One, but they're not the only game in town) let you easily set up additional accounts with a couple of keystrokes, so it's quick and easy to set up multiple accounts for individual purposes. They even allow us to "nickname" the accounts so we can see at a glance what the purpose is.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Sounds like a great financial plan , welcome to our channel glad you found us have a great week Cheers ☕️🌺🙂
@teresasummerville2686
@teresasummerville2686 Жыл бұрын
I enjoy your videos so much! Tina, this color tee shirt looks great on you. Definitely love it when you wear autumn tones.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Glad you like them! thanks for liking my top Teresa I like the colour too have a wonderful weekend Cheers 🍷🌺🙂
@davidthom9159
@davidthom9159 Жыл бұрын
I agree about the restaurant drinks, also if you have the willpower forego desserts. A piece of pie or cake can easily cost $6 or $7. You can buy a whole one for just a bit more and enjoy it at home with friends.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Great idea David have dessert 🍰 at home way cheaper have a wonderful weekend Cheers 🍺🙂
@hivolco151
@hivolco151 Жыл бұрын
I have never shared a bank account with my spouse ... due to my partner's paranoia that was left over from a previous relationship... mostly I am fine with that, we do share expenses and our mortgage is paid off... but you made a good point about end of life... Thanks for the reminder I need to add family to all of my accounts so the money doesn't go to strangers!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Sometimes rules have to be beat to suit you both thanks for watching Cheers 🍷🌺🍺
@jo-anne5123
@jo-anne5123 Жыл бұрын
Nice Tshirt, Norm! I saw Aerosmith when they opened for Mott The Hoople at Massey Hall in 1973. They were so new, their name wasn’t even on the bill and my friends and I thought that Steven Tyler looked like a young Mick Jagger. 😂
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks Jo-Anne, wow that’s great have a wonderful weekend Cheers 🍷🎸🍺🙂
@als7132
@als7132 2 ай бұрын
I am a new viewer. I really enjoy watching and hearing your sage advice. I am relatively new to retirement from work, so I have found your information quite helpful. Thank you, and all the best to you.
@ThisIsOurRetirement
@ThisIsOurRetirement 2 ай бұрын
Thanks so much!
@kathysheeran6589
@kathysheeran6589 Жыл бұрын
Brilliant advice -2nd card for online purchases ❤️❤️❤️ thx Those hackers ugh. But we have to share what helps all of us. Thanks. And happy healthy new year
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Glad you enjoyed the video Kathy Happy New Year to you too Cheers 🥳🍷🌺🥂
@balletstef
@balletstef Жыл бұрын
I get a friends and family discount on NCL, because my good friend has an important job there. I cruise when I travel, because I can get such great deals. I pay for everything in advance on my debit card: airfare, transportation to the ship, specialty dining, and tours. That way I stay in budget, don't need to carry cash, and I have a fabulous time!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That is awesome! have a wonderful weekend Stephenie Cheers 🍷🌺🙂🚢
@LS-id5hc
@LS-id5hc Жыл бұрын
We have hired cars to and from the airport, started when we took a cruise from Southampton and fly back to Gatwick.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That’s great we love it so less stress Cheers 🍷🌺
@ramonapolanco33
@ramonapolanco33 Жыл бұрын
Hello friends! Happy New Year 2023 🎉! Happy-Healthy year to al! I love all your videos about retirements planning. Thank you ❤❤
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Our pleasure! have a Healthy Happy New Year Ramona 🥳🥂🌺
@lindadorman2869
@lindadorman2869 Жыл бұрын
When you use credit cards to pay bills (rent/mortgage, utilities, insurance) online, make sure you’re not being charged a processing fee, even if you pay annually. Some do not charge any fee for paying with a debit card or direct withdrawal from a bank account. If they charge a processing fee when you pay directly on their website, set up online payment from your bank account (i.e. Zelle from Chase) instead.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Great point Linda we were going to pay the Car 🚗 insurance on the credit card till we saw there a fee, now pay as an online payment from our bank. Enjoy your weekend Cheers 🍷🌺
@JP-tq7ni
@JP-tq7ni Жыл бұрын
I get points for all those payments charged to my Visa
@nikij.6058
@nikij.6058 Жыл бұрын
Hello! I suggest splitting plates while out to dinner as well as always ordering water! Also select the highest deductible on your car insurance your payment twill be less. Buy gift cards for eating out at Costco, you’ll save money for a drink! Cheers. 🎉
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Great ideas Niki , we have had a couple of restaurants go very funny in Portugal 🇵🇹 when we asked to share a dish ! have a wonderful day Cheers 🍷🌺🙂
@richardackley1823
@richardackley1823 Жыл бұрын
Hi Tina & Norm: About unauthorized credit card debt such as internet transactions, I’ve had maybe three times where this happened. The Bank always gives me credit, investigates and then reimburses any fraudulent charges. I just check my statement every month to verify that the charges are all mine. So I never worry about that. Also you can set up your account to automatically notify you when a charge is made or posted. So if you get notification in the middle of the night of a new charge, you know right away of the transaction and can verify whether it is yours or not. Very helpful so it’s risk free.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks Richard for sharing this.
@MA-cy7su
@MA-cy7su Жыл бұрын
Thank you for your outstanding videos. I wanted to inform you that I am (and probably many others are) reading the comments during the following hours and days - clicking on "the latest" = always on track. So I wish you benefit from many more ads as well.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We are pleased that you are finding the comments useful and entertaining, we set out to encourage comments by reply to all of them so we can all learn from each other. Thanks for watching have a nice weekend.
@brianwhite1189
@brianwhite1189 Жыл бұрын
Great episode, and I learned a new word, palaver. Thanks and have a great weekend!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Excellent! have a great weekend Brian Cheers 🍷🌺🍺
@micheller5516
@micheller5516 Жыл бұрын
I've had a second credit card for many years just for online purchases. I keep a close eye on it as well. I had a few low amounts show up on it once and called to have them removed and also asked them to replace the card with a different number. I'm sure they were fraudulent charges and larger amounts would have followed. I like having more than one card when I travel, as sometimes one of the bank's systems will 'go down' and I'm not able to use it, so I have another card from a different bank as a back up. Thanks Norm and Tina. Great advice as always.💜
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Hi Michelle yes having more than one card is a good idea especially if you travel. It is a great idea to monitor your credit card statement and check the charges. Thanks so much for sharing this.
@barbaracarr17
@barbaracarr17 Жыл бұрын
My husband and I don't eat in restaurants very often. When we do go to one, we go at breakfast or lunch time. It's so much less expensive than dinner! The dinners are usually too heavy and too much food anyway.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Totally agree Barbara prices are less at lunchtime today we are going out for a Thai lunch with friends 🍜Cheers 🍷🙂
@StackAndPrepper
@StackAndPrepper Жыл бұрын
Great advice on ordering water instead of alcoholic drinks in restaurants. My wife and I do the same thing and it doesn't detract from the restaurant experience in the least. In addition to the $8 to $10 per beer, you also have to factor in an additional 15% or 20% tip on your total bill, which could add up to as much as $12 for that one bottle of beer. It's a crazy waste of money.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Very true a lot cheaper to drink at home have a wonderful weekend Cheers 🍷🌺🍺
@sharonvickers146
@sharonvickers146 Жыл бұрын
I am going to have to disagree on this one. I don't deny myself the pleasures in life, as my retirement is meant to allow me to enjoy those pleasures. A glass of wine with a meal is a pleasure. I could get hit by a bus at any moment, so I make sure to enjoy those little pleasures when I can. A well-planned retirement is not a time to scrimp and deprive yourself of a simple pleasure. Enjoy today, confident you have planned well. I make sure I do.
@marietaylor5174
@marietaylor5174 Жыл бұрын
Everything that can be paid annually, I always do so. I never carry balances on credit cards; I don't plan to ever pay another cent of interest on anything.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Great plan we agree Marie Cheers 🍷🙂🌺
@darrylmcleman6456
@darrylmcleman6456 Жыл бұрын
Great Advice Once Again!I ran out and bought a "New to me "car on boxing week sale! $1000.00 off! Turned out it needs a Catalytic converter.$1500.00-----$2000.00!!! OUCH. Go slow! CHEERS
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Happy New Year Darryl have a great weekend Cheers 🥳🥂🌺
@55karenina
@55karenina 10 ай бұрын
Wonderful advise, and you are wonderful I didn’t learn anything,I just learning now,I am 70 ha,ha, better late, than not at all. Thank you
@Duke_of_Prunes
@Duke_of_Prunes Жыл бұрын
Great advice, especially on the proceeds you receive from downsizing your home. I spent my adult life buying and renting houses and apartment buildings, and the temptation to retire with a fancy car is great 😔
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Do what you feel is right and if it makes you happy, we don’t have a crystal ball 🔮 to the future Cheers 🍷🙂🍺
@davidfolland8513
@davidfolland8513 Жыл бұрын
Hi guys, Thanks for credit card advice--I don't have one but will get one for online shopping with a low limit! Happy New Year
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Our pleasure! have a great weekend David Cheers 🍺🌺🍷
@ProjectFrugal
@ProjectFrugal Жыл бұрын
Have a vegetable garden and fruit trees. Not only is it a good excuse to go outside and get some exercise, you get to literally enjoy the fruits of your labour!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Love that! thanks for sharing have a wonderful weekend Cheers 🍷🍎🥕🙂
@crios5
@crios5 Жыл бұрын
Thank you for sharing your grandparents advise. One thing that I learned and I will like to share is that when you travel overseas, it is a good idea to buy international travel insurance. especially as we get older you just never know when are you going to have an emergency.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Yes we never travel without medical travel insurance, we buy an annual policy as it’s better value. Thanks for sharing this info.
@ssks1979
@ssks1979 Жыл бұрын
Hello, in general we have followed similar steps to life as you, with downsizing planned in a few years. But one item that really got my attention is that my wife who has 2 "second person" credit cards has no accumulated credit history here in Canada. That's seriously alarming. Time to review offerings and have her get her own card ASAP. Thanks for the info.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We are glad you found something useful in our video and are very pleased you are going to act on it. Have a nice Sunday.
@karrelaw
@karrelaw Жыл бұрын
Love youse guys! So me, always lived below my means, we don't drink, I cook almost all our meals out of healthy but very budget conscious foodstuffs (60,000 ways to combine beans and rice and cabbage and carrots, anyone... no?), we don't travel much except camping anymore, our entertainment is generally of the free variety. So we're well positioned for retirement, but sometimes the austerity budget gets to me, even so. I would just really like to go to a cafe and have a fancy latte and set there for an hour but between covid and frugality... so I am on the couch w my sweetheart drinking my own coffee and watching KZbin, but still, so fortunate really and fairly content. Other reason to have a second credit card is that sometimes, even through no fault of your own, your card might be declined and that would be super awkward.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing a lovely comment fancy latte or Cappuccino coffee ☕️ (Tinas Favourite) sounds wonderful have a wonderful weekend Cheers 🍷🌺🙂
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We have become very cautious but we are going to a local coffee shop that isn’t crowded and have a lovely time. Every now and then it doesn’t hurt to splurge but the benefits to your mental health is priceless. We will walk out of places that become too crowded. Thanks so much for your support.
@caroleanne8529
@caroleanne8529 Жыл бұрын
You will reach a point where your frugality has paid off and you will be able to balance being frugal sometimes with having life's little pleasures other times. Remember, you can't take it with you.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Love it Carole Anne 🥰
@karrelaw
@karrelaw Жыл бұрын
@@caroleanne8529 It's hard to turn it off, you know? We do, however, enjoy many of life's pleasures, for sure.
@davidbruce7806
@davidbruce7806 Жыл бұрын
I think the second low limit credit card is a great idea, I didn’t know you could even ask for a low limit, I just thought you got whatever limit they gave you. I’m going to check into this. Thanks
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
If you get an increase in limit you can call and have them lower your credit limit again, or just ask for a low credit limit.
@royking7298
@royking7298 Жыл бұрын
Right on!! Go out to lunch, and do it Monday thru Friday. Fewer people milling about, and it's cheaper. Drinking at home is always the best policy anyway. Eating at home is best because you can be in charge of all the ingredients in the meal No small thing. But having friends and getting it is important so.... Keep up the great videos!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks so much Roy we hope you are enjoying your retirement have a wonderful week Cheers 🇺🇸🍷🇵🇹🍺🇨🇦
@cherylkern3288
@cherylkern3288 Жыл бұрын
I have found that in most marriages, one person is responsible for paying the bills. It is very important for the other person to learn how to pay the bills. Also, make sure each of you knows where important documents are, such as life insurance policies, and how to collect on said policies.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Yes Cheryl very true thanks for making us aware of this.
@sheilaenglish3293
@sheilaenglish3293 Жыл бұрын
I came back to the Ottawa airport once in the winter. My car was encased in a thick layer of icy and snow. 😩 I took a taxi home and had to go back the next day to deal with it.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing! ours was covered in snow yours was ice LOL 😂 have a great week Sheila Cheers 🍷🌺🍺
@williamjones4456
@williamjones4456 Жыл бұрын
Thank you for another great episode. Something that may have been overlooked is your goals and future plans. I have sold the family's home and my company and now I have to find another goal and purpose. I'm healthy, wealthy, but without direction. I always look forward to Saturday at noon. Keep up the good work. Cheers from Oakville.
@grandpa_eric
@grandpa_eric Жыл бұрын
Hey there! 👋 @William Jones About 50 some years ago, my family lived in Mississauga, the town next door. Now in the USA, I can relate to your personal characterization. With wealth, health, and time on my hands so it appears, my interests have waned. I have a bucket list, actually a bucket filled with items from a full life, not to relive again. So what’s next? I watch Norm & Tina, enjoy more snacks then I probably should, and sit around far to much. I want to travel but feel unsafe doing so. Anyway, you have company. Best of luck to you. And thanks for your honest commentary.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Look for opportunities locally William where perhaps you could share your business and life lessons with start up business’s that will put your skills to use and give you purpose in life .We are glad you enjoy our videos and appreciate you dropping by every Saturday Cheers 🍺🙂🌺
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
How about letting a person who is a newcomer to your country Eric speak English to you once a week and you could learn their language and customs and give you a travel experience as an idea you would be helping someone so much .🙂
@cynthiadeg9206
@cynthiadeg9206 Жыл бұрын
William, I’m not wealthy but I took up the guitar. Still a beginner but it’s loads of fun. Just an idea
@williamjones4456
@williamjones4456 Жыл бұрын
@@grandpa_eric about 50 years ago I was going to streetsville high school and fueling Canada brick trucks, saving for a motorcycle. Thanks for shout out.
@dineshgordhan4783
@dineshgordhan4783 Жыл бұрын
Very good advice on 2nd credit card & on credit rating for your partner. Thanks
@whyme5024
@whyme5024 Жыл бұрын
Excellent tips a lot of folk don't even think about.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Glad you enjoyed it have a wonderful weekend Cheers 🍷🌺🍺
@deborahdownie8039
@deborahdownie8039 Жыл бұрын
Really good tips! I consider myself pretty informed on retirement planing but I definitely learned a few new things today. Thanks so much.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks so much Deborah we are glad to have been able to pass on something useful to you. Have a great weekend.
@The0Patt
@The0Patt Жыл бұрын
Yes, It occurred to me a while back that I didn't have a personal credit card at all! So applied for one and got one! $1000 limit only. However, after paying it off faithfully the company has more that doubled the limit for me. I barely use it, but I am happy to have it nonetheless.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
The more you pay it off Patt , the higher the limit will be offered to you LOL 😂have a great weekend Cheers 🍺🌺
@paulhunter6652
@paulhunter6652 Жыл бұрын
Hi Norm and Tina: We have a Euro and American account which helps us with our travel expense plans. We buy lump sums when the rates are good and its there when we are ready to travel. We also use a car service and we can save some money we would spend on gas and parking at the airport. Its also great having door to door stress free service when we are tired after a long trip. We consider that part of our vacation costs along with options plus and more leg room seats on the plane. Its the reality of getting older and wanting more comfort and stress free travel. Great shirt Norm! I have seen Aerosmith many times. Let the music do the talking and don’t ruin your retirement! Cheers!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We hear you Paul those little touches of comfort are worth every Penny door to door service and nicer seats on the plane ✈️ hope you are having a great weekend Cheers 🍺🌺🍷🎸
@brianrose2487
@brianrose2487 4 ай бұрын
Toys in the attic... their best album. Take care
@ThisIsOurRetirement
@ThisIsOurRetirement 4 ай бұрын
🍻🎸🙂
@AnnMitt
@AnnMitt Жыл бұрын
During the pandemic shutdown, I learned how to color my grey roots at home with store bought color. Since 2020, I only go to the hair salon a few times a year for a haircut. I calculated that DYI is saving me close to $900/year. 😁
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That’s great Ann guess there are some pluses from the Lockdowns LOL 😂Cheers 🍷🌺🙂
@barbaragullap3789
@barbaragullap3789 Жыл бұрын
Hello Tina& Norm sorry I missed you last week but I came down with Covid thank God the worst is over ,thank you as always for the very good advise I am surprised how many I am already doing, the one big exception is downsizing I am leaving New York and my tiny tiny apartment to my retirement home I bought in Las Vagas 10yrs ago.my mortgage is a third of my rent,I did look into selling the house but surprise surprise the rent in Vagas have gone up so much that a one bedroom is more than my mortgage, so the house is so much cheaper even with up keep for now .That's how things are in America I pray they will get better for all of us.A very happy New Year and good health &wealth
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
So sorry to hear you had Covid Barbara we hope you start to feel better 💐sounds like a great plan you have for your retirement we wish you all the best for a Healthy New Year Cheers 🇺🇸🥂🌺🙂🇨🇦
@cann9155
@cann9155 Жыл бұрын
AWESOME TIPS guys Thank you!♥♥♥
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Our pleasure! thanks for watching have a great week Cheers 🍷🇨🇦🙂
@dean7442
@dean7442 Жыл бұрын
Love it, some great tips, thank you. Something I am very wary of in the UK is when eating out some restaurants add on a 'service charge' which sometimes can be disproportionate to the bill and service you have received. I now watch for this and as i'm entitled to do, will often ask for it to be changed to a much fairer amount. Something to watch for to make sure you are not being ripped off in the UK especially.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing! great tip Dean enjoy your weekend Cheers 🇬🇧🍺🌺🇨🇦🍷
@johnrogers2957
@johnrogers2957 Жыл бұрын
So right, I’ve noticed this a lot recently. Is this another way of getting more money ? 99% of the time I get it taken off! To echo the disproportionate effect I ordered 2drinks while I sat at the bar and was charge £1.89 for the privilege.
@dean7442
@dean7442 Жыл бұрын
@@johnrogers2957 That's outrageous. Recently I ordered 'online' from Just Eat, Pizza from Pizza Express to be delivered. They charged £2.50 for delivery.... but also £1.95 service charge. "What service" I had to ask !!....Order cancelled. Something I think the UK consumer needs to firmly stand up to.
@MrGearoid65
@MrGearoid65 Жыл бұрын
Hey Tina and Norm. A great video again. It's like a chat with old friends at this stage. (Not so much of the 'old', I think I hear you say!) Thoroughly enjoyed this one too. When I retired 2 years ago I was in a position to pay off the remainder of my mortgage. My brother, a banker advised me to leave the mortgage at about 10k (Monthly payment is 100 EURO, tiny.) This was to maintain a good credit history if I ever needed a line of credit in the future! I ditched my credit cards ten years ago. Debit card only these days but I am considering your advice very carefully. I wholeheartedly endorse the no alcohol at lunchtime idea too. Your happy hour is the perfect solution. Anyway, thanks again for an entertaining topic and good advice as always. Stay safe and keep well. ✨🌟🌟🙏
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We are so glad you enjoyed it Hmmm not too much of the Old LOL 😂😂 and we hope you are having an awesome weekend Cheers 🍷🌺🍺😎
@twotipsytravelers6701
@twotipsytravelers6701 Жыл бұрын
House fraud is real and years ago I was advised to keep a small line of credit on my home. That way if someone tries to sell your home without your knowledge ( just read about a couple who had their house sold by fraud while they were on a trip), the house is encumbered by the loan and the bank has to be paid first, which triggers you being informed.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Wow we read that story too 😱couldn’t believe that could happen 🙂
@Jocantral
@Jocantral Жыл бұрын
@@twotipsytravelers6701 Yes very true. We keep a line of credit on our home also, even though it has been paid off for years. Just a little extra insurance on your property.
@MrGearoid65
@MrGearoid65 Жыл бұрын
@@twotipsytravelers6701 Crikey! I'd never heard of that. Just shows you can never be too careful. Thank you for this information. Fascinating. Have a great 2023!
@mialithuania62
@mialithuania62 Жыл бұрын
As always, your advices are brilliant. I save a lot of money by buying flight tickets, computers, appliances or other costly things on Black Friday or when they are on sale. For example, in Spain almost everything is on sale in January, after Three Kings day.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks so much Milda glad you enjoy our videos have a great weekend Cheers 🍷🌺🍺
@mikeylikethailand
@mikeylikethailand Жыл бұрын
I laughed when you made mention of your shirt … I noticed it right away … Rock On’
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Glad you liked it Mikey Cheers 🍺🎸🌺
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks so much Mikey!
@ourfamilyvideos7283
@ourfamilyvideos7283 Жыл бұрын
Agree with joining all money. Then having lots of conversations on how to spend,save it. We also take all “insurances,HOA” and + then divide by 12 then “set that aside in checking” for when that bill comes. We do the same for Christmas/ birthdays(add up then divide by 12).
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Sounds great have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🙂
@murraytown4
@murraytown4 Жыл бұрын
I do the lemon water thing all the time. I’ve only one credit card and have had the same limit ($1500) for 35 years. The card never has a balance on it and in fact is always in a credit situation. (ie. where I’m owed the money). I pay my gym membership at the Y annually, thereby chopping 15% off the monthly rate. Am waiting for the seniors’ rate to kick in in a couple of years.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
That’s great Murray we find the credit card companies constantly wanting you to up your credit limit 🤔have a wonderful weekend Cheers 🍷🌺🍺🙂
@marie-louisewcislo6519
@marie-louisewcislo6519 Жыл бұрын
One credit score bit of advice: avoid getting mad at a credit card provider and “teaching them a lesson” by not making your monthly payments. I had and freely used and always promptly paid off in full, my American Express Platinum credit card for many decades. JUST ONCE I overlooked a monthly payment and they immediately started harassing me by phone almost daily, rudely and aggressively demanding payment & making threats. I was NOT impressed & they annoyed me SO much, I decided to purposefully not pay them a cent, for months. When they finally sent my account to a collection agency, I immediately paid it in full and cancelled my card. But those months of intentional non-payment, which did make me happy at the time, done purely out of spite by me, reduced my credit score. Lesson learned. So now my spite consists of never getting another AmEx card ever again 😃 That’ll show them ! 😆 So enjoy your videos.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Not trying to be clever…American Express is a charge card not a credit card, we just don’t mess with these institutions and guard our credit score and don’t do credit checks often and ask the person wanting to check us if it is a hard check or a soft check, soft check credit bureau requests don’t impact your score. Thanks so much for sharing your experience, it’s sobering how they can mess with you.
@johnred6100
@johnred6100 Жыл бұрын
When I feel a credit card company has been unfair they get a time out. I always pay the full amount every month but one month I made a mistake and short changed by a few dollars and got charged interest. I complained to no avail and told them "You are getting a timeout and I will not use your card for several months". Mentioned that it would approximately cost them on average $50 to $75 a month in fees from my usage, which cost them more in lost revenue than what they got in interest. Didn't care at that point if they were going to waive the charges or not and hung up. Kept my word and used a different card for a couple of months.
@mashacamashaca877
@mashacamashaca877 Жыл бұрын
Taking a cab or Uber to the airport could also save you from missing your flight if for example you get into a (minor) accident (or a breakdown) on the way. It’d be easier to just order another cab/Uber rather than dealing with yours on the side of the road.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Great point Mashaca thanks for sharing Cheers 🍷🌺🍺
@e5man4her
@e5man4her Жыл бұрын
Great vintage shirt Norm.....Rock on!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks John have a great weekend Cheers 🍺🌺🍷🎸
@dancurran8977
@dancurran8977 Жыл бұрын
Thank you for the tips. Nice tshirt Mr. Norm
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
You bet Dan thanks for watching have a great weekend Cheers 🍷🙂🍺
@donnaallgaier-lamberti3933
@donnaallgaier-lamberti3933 Жыл бұрын
QUESTIONS: Please make a video about your health care plans. Is it National Health care? Do you pay for it? Do you get to choose your own physician? What if you need a surgery? What happens if you need to go into a nursing home as you age?
@cucar8363
@cucar8363 Жыл бұрын
great tips guys. This Saturday I paid $8.95 for a glass of sangria!! This is so true! Skipping drinks for now on...
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Oh wow! crazy prices way cheaper at home cheers Cuca 🍷🌺🙂
@cucar8363
@cucar8363 Жыл бұрын
@@ThisIsOurRetirement absolutely! I learnt my lesson. LOL...Love you guys!🥰
@patsycathcart1
@patsycathcart1 Жыл бұрын
You folks give the best and most practical advice. Thank you so much!
@rachelwalsh4378
@rachelwalsh4378 Жыл бұрын
Great tips Tina & Norm 🏴󠁧󠁢󠁷󠁬󠁳󠁿 🇨🇦
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks Rachel hope you and the family are well Cheers 🍷🏴󠁧󠁢󠁷󠁬󠁳󠁿🇨🇦👍
@frankalexander5401
@frankalexander5401 Жыл бұрын
Good advice!! My wife and I carry “zero” credit card debt. We charge a lot of stuff on credit cards each month, but it is paid off at the end of the month. We have never paid zero interest on our credit cards ever since we have had credit cards. We have no mortgage debt either!!! I am retired from clinical medicine (now work for a health insurance company)
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Sounds great Frank you talk about high maintenance costs , that’s why we rent 😂 it took away all the unexpected maintenance and expenses of home ownership. Have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺🌺
@grantboucher2696
@grantboucher2696 Жыл бұрын
two accounts one house account and no squabbles about little purchases. We kept our house just made a basement apt. But did sell other properties maxed out tfsa and rrsp for high dividend stocks and etfs and bought a new car . Dont buy expensive mutual funds from banks or so called advisors do it yourself with self directed accounts
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Lots of great tips thanks for sharing Grant have a great week Cheers 🍷🌺🙂🍺
@dianemalek436
@dianemalek436 Жыл бұрын
Hi Tina and Norm, Great advice! We have been doing the water and lemon order for years. Restaurants add a huge charge on drinks, even sodas or juices. It's a good idea to have a second credit card in case the main one gets compromised and you have to wait for a replacement. 😺
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
So true! thanks for sharing Diane have a wonderful weekend Cheers 🍷🌺🙂
@e-spy
@e-spy Жыл бұрын
I get the water, but I don't get the lemon because most restaurants do not wash them before cutting them.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Good point 🍋 🤔
@johnwietfeldt6238
@johnwietfeldt6238 Жыл бұрын
Norm and Tina, you make me feel better just watching your video. We have several cards, and when traveling don’t carry all the same cards, in case one of us loses their purse/wallet.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks so much John glad you enjoy our videos have a wonderful weekend Cheers 🍺🌺🍷
@RetiredLovingIt
@RetiredLovingIt Жыл бұрын
Great tips Norm and Tina! We think a lot alike when it comes to money.
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks guys hoping you are enjoying a lovely weekend Cheers 🇺🇸☕️🌺🍷🇨🇦
@bestyou774
@bestyou774 7 ай бұрын
Very useful advice. I definitely choose the annual payment option for insurance to avoid any finance charges. One of the best things I have done is to choose a current account and debit card without charges for foreign transactions. This can make a big difference. I am not familiar with the North American market but some of the challenger banks in UK offer a near perfect exchange rate with no additional commission or charges. The best tip of all is that when using a card always pay in the local currency and never accept the conversion rate offered to you by the establishment. They will always be taking a cut from this.
@ThisIsOurRetirement
@ThisIsOurRetirement 7 ай бұрын
We agree Cliff local currency
@billyrock8305
@billyrock8305 Жыл бұрын
Happy New Year! Another wonderful video! Although decades away from from retirement, you guys offer wonderful advice! ✅
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Wonderful! hopefully as we are older you can learn tips that will help your future Billy Cheers 🍷🙂🍺
@kenbarthSimAV8tor
@kenbarthSimAV8tor Жыл бұрын
We established a line of credit at our local bank - for property tax; home improvements/maintenance. Credit cards are only for online purchases ONLY! We are fortunate to be a 2 income household. Our plan is to have no debts except the mortgage (which is cheaper than present day rents). In 3 years my private health insurance long term disability benefit ends So I likely will replace some of that income by drawing down some of my RRSP; or GICs. I also may start a small within the Village delivery service with an electric trike. Alol requires staying healthy - mind; body and teeth eh :) Enjoy your informative vids; stay well eh!
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing Ken have a wonderful week Cheers 🌺🙂🍷🍺
@libbyannstew8775
@libbyannstew8775 Жыл бұрын
Happy New Year and Happy Saturday Norm & Tina! Another great video. Just wanted to share a couple of things I did once I retired & had the time. I set myself up as an Authorized Representative for my Mum with CRA. This allows me to discuss her tax returns directly with CRA if the need should arise. I’m also going to set this up for my 2 adult children so they can deal on my behalf. Some of my friends have looked at me sideways thinking I’m a bit silly to be worrying about such things at my age but when something happens and you need to speak with CRA on a loved one’s behalf it isn’t easy if the proper authorizations aren’t in place. There two levels of access - 1) is enquiry only and 2) enquiry and update. I will be investigating doing the same thing through Service Canada. We also set up a banking POA with my Mum’s bank to that we can deal with her investment advisor directly if need be. When my Dad passed away we were amazed at how long it took to work through the bank estates departments and that was with my parents having everything in very good order. Can’t imagine if someones’ finances are at 6’s and 7’s. Love the insights today - keep up the great work!
@grandpa_eric
@grandpa_eric Жыл бұрын
What is a “CRA?”
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Canada Revenue Agency 🙂
@libbyannstew8775
@libbyannstew8775 Жыл бұрын
@@grandpa_eric Apologies, I should have spelled that out. It’s the Canada Revenue Agency. The US equivalent would be the Internal Revenue Service (IRS).
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Wow isn’t that very interesting Libbyann thanks for sharing that , glad you enjoyed the video have a wonderful weekend Cheers 🍷🌺🙂
@libbyannstew8775
@libbyannstew8775 Жыл бұрын
@@ThisIsOurRetirement You’re welcome. Nice to share some information with you and Tina for a change!! Bon Weekend to you too. ;-)
@sudburydrone466
@sudburydrone466 Жыл бұрын
👍👍✌️. Great advice again. Always a pleasure to watch your videos
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
We appreciate your support thank you 🍷🌺
@IamaDutch-Kiwi
@IamaDutch-Kiwi Жыл бұрын
What a lovely cheerful sunny picture you both painted wearing those lovely t-shirts. Oh that double Credit Card option sounds a great idea. I only use mine for traveling or online purchase so I wouldn't be served having two. I upgrade the limit when overseas and reduce it again when I get home. That passport issue was a problem indeed - I was due to have mine renewed in New Zealand - then Covid came and I couldn't journey there at the appointed time. Thankfully there is a secured website I could access to 'do' the passport application myself. It came to me through the NZ Embassy in London. Drama averted. Phew! Now I'd renew it even months earlier if I am unsure if I'd be back in NZ in time. Annual payments are indeed a preferred way to go. Totally agree. However, make sure the annual payments don't all fall in the same month. Love the lunch /water tip and the transport to the airport. We actually leave ours on a private property and the owners drive us to the airport and pick us up from the airport on return. Their car is warm and by the time we get into our car we have re-adjusted to the outdoor temperature. Happy Weekend both of you. 👍🎉🍷🇳🇿🙋‍♀🇳🇱
@ThisIsOurRetirement
@ThisIsOurRetirement Жыл бұрын
Thanks for sharing a lovely comment Anita , we do enjoy the taxis to the airport although haven’t done that for the last couple of years hopefully this year we will be back to that . Hope you have a wonderful weekend Cheers 🇳🇱🍷🇨🇦🍺😎
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