Our Biggest Retirement Mistakes - How To Avoid Them

[@ThisIsOurRetirement]

🌏 Take advantage of this exclusive offer from NordVPN here ➼ nordvpn.com/ourretirement Risk-free with NordVPN's 30-day money-back guarantee!

[@beverlyness7954]

I'm 70 years old, and retired at age 62. I was ready to retire 5 years earlier. But my finances wouldn't allow for me to retire yet. Those last 5 years were torture. I delivered mail for over 35 years and my body was very broken down. Those 5 years I was part of the mortgage crisis. I lost my home to short sale and lost all the equity I'd previously built. Once my home was sold, I couldn't acquire a new home loan for 5 additional years. That event altered my retirement and living situation course. But I now own a home, it's grown in equity and I'm fairly frugal with my lifestyle. I have no additional funds for travel, but I'm grateful to be living in a comfortable home.

[@ThisIsOurRetirement]

Wow thanks for sharing your story Beverly sorry how things went but glad you have managed to turn things around you should be very proud have a nice weekend Cheers 🌺🙂

[@susankay497]

"...you can't buy your health back." Wise words, Norm

[@ThisIsOurRetirement]

We think so too ! thanks for watching Susan Cheers 🍷🌺🙂

[@Jane5720]

Tina seem surprised that you ended it that quickly

[@valeriemccallnxhfbfhddhd6204]

😂

[@ThisIsOurRetirement]

She did! We are trying new things....unfortunately I hadn't pre warned here....my bad!

[@carolnavan4137]

5 months into retirement, I have no idea why I was stressed about this stage of life. Happy weekend! 🥳

[@ThisIsOurRetirement]

You and me both! have a great weekend Carol Cheers 🍷🌺🙂

[@debbieretzlaff2912]

I’m painting, gardening, traveling and spending time with family and friends~I don’t miss work one bit! 🎉😂

[@CoffeeWalksandWhatever]

At 65, I’m still not retired. I’ve started easing into the idea by changing jobs a few years ago. I went from being a maintenance manager of a hotel to being head custodian at our school, 228 steps from our front door! This meant a huge drop in pay, but the trade off is not driving 40 minutes to my work place. I’m also enjoying my workplace a lot more than my previous one. My wife’s career has been at home, fostering over 300 children. She retired in 2019. One reason I haven’t retired is we needed our pensions. We have no debt, but still need an income to cover our basic expenses. Now that we have that, I’m looking at retirements in the next couple of years.

[@ThisIsOurRetirement]

We admire your life, and how you have helped so many children, we wish you a well deserved retirement!

[@murraytown4]

I’m on team Norm. Retirement for me at 56 was a no brainer. At that age, I figured I’d earned and deserved it. Plus I have a pension so financially it was doable. And I was debt free years before retiring. I still struggle with de-cluttering and accumulating stuff.

[@ThisIsOurRetirement]

We hear you Murray we are struggling with de cluttering too way too much stuff we have started taking to Good Will Cheers 🍷🙂🌺

[@braxxian]

I discovered minimalism around 50. Now with all debt gone and minimalism firmly entrenched so I'm not wasting all my money on a bunch of stuff I don't need I'm retired at 55.

[@robinnehls8057]

I have mentioned before that we are retiring and are parents of a son who is disabled since birth. Your videos have helped me visualize what retirement can be. This “million dollar” nest egg is scaring people into working longer. The three of us will be fine. I just worry. We have 50 days left until retirement officially begins. Btw my son doesn’t stress at all about this and told all of his friends he’s retiring too. Lol 😂

[@ThisIsOurRetirement]

Thanks Robin for sharing this and congratulations on your upcoming retirement 👍

[@heathersteeves9297]

Robin if you don’t mind me asking what do you have set up for your son in the event when you all pass away? My daughter has a learning disability and will always be with us and I just don’t know what to set up and I am looking for any advice from people in the same situation thank you in advance

[@robinnehls8057]

@@heathersteeves9297 Yes we have a special needs trust and a special needs will and guardianship. Probably the most important part is to get guardianship and we have my son’s siblings as guardians also. That way if you should die the state is not making decisions for placement of your daughter. Good luck. I felt so much better after we did this.

[@dlg5485]

I couldn't agree more that retirement should not be postponed if you can swing it. Your most valuable asset in retirement is not money, it's time and health, and those 2 resources diminish quickly as you get older. I'm 54 and I won't be able to retire before age 62 because I started preparing rather late, unfortunately, but 62 is still quite young and I am in great health (knock wood!), so I'm OK with retiring at 62. That said, I certainly wouldn't work any later than that. I hear a lot of people say they need to keep working to stay fit or to stay sharp and this is nonsense, in my opinion. There are a million different activities you can engage in to keep yourself up that don't involve working a job. I will never understand why anyone would want to keep giving their valuable time to a boss rather than spending that valuable resource on themselves and on loved ones.

[@ThisIsOurRetirement]

Great comment we are glad you shared your thoughts, health is such a fleeting commodity as we age…..just the way it is. Great to know you have thought out a plan. Thanks for watching.

[@pattylyman7907]

❤❤

[@monicacochran5200]

I agree. I mentally knew I was ready to retire all of sudden one day. I retired at 60. Even before I retired, I told people "you will know when you are ready". Summary: listen to yourself. ❤

[@ThisIsOurRetirement]

Great point Monica, thanks for sharing this. 💕

[@lilsaint91]

Monica i know i am ready to retire now but i am only 31 years old please help

[@monicacochran5200]

@lilsaint91 unless you have $500,000 saved, you need to work. sounds like you aren't fulfilled at your job/source of income. Step out of comfort and find your purpose.

[@yhalsall2641]

Hi Norm and Tina, I haven't commented before but I thought I would with this video. My husband and I also use the want versus need in our lives. We are debt free and we did plan on retiring at 56 and 54 but on the west coast where we live housing is so expensive so all of our adult children are still living at home . They pay rent to us but it's nothing compared to what they would have to pay here in the city. We planned to sell the house and downsize but we have decided to help them for a few more years to save and finish with their schooling so we have put our plans on hold. We have made the decision to work part time so that has helped tremendously but the dreams of travel and not getting up when the alarm tells us to is something we can't wait for. I enjoy your content and you are helping a lot of people I'm sure.

[@ThisIsOurRetirement]

Hard decisions these days where families have to help each other out by staying with each other , our adult children are both out on their own but we imagine it can be hard . Those dreams of travel will come hope it’s soon for you Cheers 🌺🍷🙂🍻

[@jorasparents]

I always make a cup of tea or coffee before tuning in (today it's 90 degrees, so iced coffee). It's just a little piece of relaxation to watch your videos. You guys are so genuine and sincere and nice. Thanks for being such a great resource.

[@ThisIsOurRetirement]

Your very welcome have a great weekend Cheers 🇺🇸🍷🇨🇦🌺

[@donnavacca493]

I retired at 52 and my husband at 55. We always planned for early retirement. I’ve been retired for 11 yrs and my husband 9 yrs. It has been wonderful and we have never regretted it. We initially travelled quite a bit (all before Covid) and played pickleball and golf regularly. Having the time to do what you want and not be rushing around is the best. We are currently downsizing and moving at the end of this month to a very active 55+ community and looking forward to getting back to more physical activity and social life. Selling your house and moving takes a lot of energy…better to do it younger than older. Time passes whether you do something or not, best to act on your dreams and not put it off. We love watching your videos and agree with your point of view! Keep up the good work 😊

[@ThisIsOurRetirement]

Congratulations on your move and have a great time in your new home!

[@JimBland-f9j]

We are 71 and 70, retired 3 years, just listing the house this week, hoping to sell in a peak sellers market. We are moving to a new apartment building with all conveniences, pool, exercise room, pool table and darts, roof top with gardens chairs tables and bbq, with plans of locking the door and leaving where our hearts lead us for long periods. Thinking about winter in Portugal. We consider ourselves extremely lucky as our investment portfolio will be over $1,000,000 after the house sells. I agree you don’t need this much but it is a relief to have no debt and more money than we can probably spend. Like you, we are frugal and agree with wanting or needing things. Our only need is great trip ideas, please keep them coming.

[@ThisIsOurRetirement]

That’s wonderful we hope you can sell quickly and get on with the new chapter in your lives , we love renting and it gives so much freedom to travel to new places Cheers 🍷🌺🙂

[@lisagardner9798]

Love your videos. I’m 60 1/2 and do not have a lot of money in my 401k. Trying to work until I’m 62 but here lately “I’ve had enough”! Thought about working part time and only taking what I need to live on from my 401k until I can get my SS at 62. Spoke to my financial adviser this past week and he basically said “I’m sorry but you need to keep working or you will not have any money for your later years”! 😢Hopefully the stress will not kill me first.

[@ThisIsOurRetirement]

Sorry to here that Lisa!

[@jankretz2297]

Can you find some paid work that you would love?

[@poges]

Lisa I'm worried that financial advisors often say you need more than you do. It depends on what your goals are but most people can live with less.

[@beththomas6514]

This video really spoke to me. I retired within the last year at 55 after many years of sacrificing income potential in exchange for a pension. Now I'm in the process of selling my house to give me a boost until I either move to a less expensive area or qualify for social security. I'm spending a lot of time most days working on downsizing and will soon be digitizing old photos to share with relatives. I'm also enjoying some traveling and plan to do more. The most surprising part of the process is how many people, including good friends, have subtly or explicitly discouraged me from retiring and encouraged me to get at least a part-time job soon, and have discouraged me from selling my house. It feels like they want me to work until I drop dead and then have to get taken from the house feet first 😀! But so far I have absolutely no regrets. Thanks for your wise perspective.

[@ThisIsOurRetirement]

We do understand how you feel Beth , we had friends who thought we were crazy selling our home and renting but were we right and they were wrong ! On downsizing we didn’t do enough should of got rid of way more stuff , ( which is in the apartment and needs to go ) we wish you all the best Cheers 🇺🇸🍷🇨🇦🙂

[@poges]

I know what you mean. I have a cousin who said to me that I'm too young to retire at 54. I thought that was nervy. We travelled so I wasn't bored. Maybe People fear boredom. Or not having enough money.

[@yomioloko9727]

You guys are a wonderful couple and give great advice. For those of us in our 60s and retired the big issue is as you mentioned separating our needs from our wants I used to be a hard working social worker in the UK and while I enjoyed the job I was stressed out with high blood pressure. Then at 60 (I wish I had done it at 55) I took my small private pension retired and looked for a country with sun that I could downsize and enjoy the rest of my life travelling more. Initially it was going to be Portugal (that was how I came about your channel) but with Brexit I decided that being of African descent I would live in different African countries for several months at a time. With decent renting properties at less than $250 per month I was doing OK. Now I've turned 67 and getting my UK state pension. I can afford to travel around Africa more and even back to the UK and Portugal twice a year. And all that came about when I asked myself if I really needed to stay in the UK or should I look for a cheaper country to live where my pension goes much further. Obviously I'm lucky in that I'm relatively healthy and that I don't need too many material things.

[@ThisIsOurRetirement]

Sounds like it is working for you and we are so happy for you thanks for sharing Cheers 🌺🙂🍷

[@nancykoo4156]

I retired late until age 75, but my family have long life records, father passed away at age 102, I am going to have 20 years of travel without any burden financially , that is the plan, hope the best

[@pensacola321]

The right time to retire is when you no longer wish to work for a living AND you ARE POSITIVE that you can afford it. But remember, if you leave your job without sufficient resources, you are not retired, you are unemployed.

[@ThisIsOurRetirement]

Very interesting comment 🤔Cheers 🇺🇸🍻🇨🇦

[@brianasamuels]

You’re not underemployed just spending too much. There are plenty of KZbin examples of people who adjusted their living to accommodate their income which most people could do and retire today but they don’t.

[@pensacola321]

@@brianasamuels certainly it is not a black-and-white formula.

[@christopherhurley8694]

That end part is very true!

[@brianasamuels]

@@pensacola321 it is as basic as simple math. If you have $10 then only spend $10! It has worked perfectly for me for 63 years.

[@jameshall2299]

Great video! I retired from the government at 51 and I won’t be able to receive my government pension until I’m 62. I have rental properties and I manage to get by just fine. As I get older, I’ll be able to draw from my pension, social security, union pension, and 401k, so things will only get better as I get older. I finally have my wife convinced to retire early and we have 8 months of travel already planned for next year. So many people wait too long to enjoy life and they never do.

[@ThisIsOurRetirement]

Sounds like great plans James we wish you lots of happy memories Cheers 🇺🇸🍷🇨🇦🙂

[@dt8787]

The run up in the housing prices over 2017-2022 allowed me to retire comfortably at age 67. Like you guys, I always saw my house as part of my retirement plan. I would have liked to retire earlier but that jump in my home equity really helped a lot and I'm in good shape physically and financially (touch wood) and working until 67 was not a problem. I'm single - maybe if I was married, it would have allowed an earlier retirement. But I'm just grateful for everything these days.

[@ThisIsOurRetirement]

Sounds great have a wonderful weekend Cheers 🍷🌺🙂

[@patriciawallace957]

My biggest mistake in the past has been debt. And going into business with debt and family was the worst thing I could of done!! But a consumer proposal back in 2019 was definitely the best for me. I am retired and happy and never want to have a debt problem again!! Thanks so much for your info.

[@ThisIsOurRetirement]

We are glad Patricia that you worked things out.

[@pattylyman7907]

Hubby and I always had an equal mindset that we were retiring as soon as possible. Used cars, paid house off, no fancy trips. So when our Fund manager told us it was time we jumped at it at 59. Our problem now is getting out of the "scrimping" attitude. We have to tell each other to spend that money we saved. So more fun trips. More adventures for us. Thank you both for your insights

[@ThisIsOurRetirement]

It is hard to move from saving to spending mode 💰we too find that difficult, glad you are enjoying your retirement Patty Cheers 🍷🌺🙂

[@SandraClarke]

Another great video and excellent advice. We retired last year when hubby was 63 and I was 57. I still worked occasionally teaching art workshops but I am pretty much done now. We had 2 great road trips to Florida so far -- both one-month leisurely journeys, and our 3rd will be in September. We spend the summer being seasonal off-the-grid homesteaders at our cabin near Haliburton, raising chickens and gardening. Our special needs adult son has a summer job here for which we are grateful. He travels with us on our road trips. So far I'm having a harder time in retirement than my husband. He was ready to leave work a year earlier. I can't get out of the 'work' mindset. Norm, I will nag you to teach us about stock photography until you make a Skillshare class for us to take! Have a great weekend. Sandra

[@ThisIsOurRetirement]

Thanks Sandra the stock photography is declining, we pivoted to KZbin

[@nataliepilote923]

Love you guys! I’m 55, and got a package for early retirement. But like Tina, I’m not ready to step out completely yet, even if I actually can financially. So I just took a 50% part time job. Hopefully it will workout and give me time to adjust, continue getting an income and at the same time have more time to enjoy life. I guess we all have to make our own experiences and find what works for our personality and situation. But I have to say that your input and the content you share has been invaluable to me in my process. Thank you and continue your good work!

[@ThisIsOurRetirement]

Your very welcome Natalie glad we have been of help to you retiring Cheers 🍷🌺🙂

[@patsycathcart1]

I appreciate your advice and wish I had found you sooner. I retired 8 years ago and my husband retired 5 years ago. We have enjoyed traveling, but because we are older (70 and 72), we have had some health issues that have interfered with our plans. We sold our home in 4 days back in June and had 16 days to move as it was a cash full price offer. We have followed your advice and set up our remaining retirement carefully, moved into an apartment that we love, and are settling in for more adventures. We are also considering getting rid of my car. Thanks again and keep those videos coming.❤

[@ThisIsOurRetirement]

That’s wonderful Patsy glad your plans are working and that you are enjoying your new apartment we wish you all the best Cheers 🌺🙂

[@Melaniejd902]

I just got home from visiting family in Alberta. While at the Calgaru Heritage Park there was a display of propeganda ads from WWII. One that stood out was a puc of a big white elephant with a For sale sign on it. A sharp dressed couple looking up at it. The poster said "If you don't need it, don't buy it!" Im going to print that one off 😅

[@ThisIsOurRetirement]

That’s very cool thanks for sharing Cheers 🌺🙂🍷

[@willtwain1383]

I retired at 55, and could not wait. I wanted to retire at age 18. The moment I knew I had enough money to make it to 65 prior to Social Security, Medicare and pensions beginning, I jumped out of the grind.

[@ThisIsOurRetirement]

That’s awesome 👏 Cheers 🇺🇸🍷🇨🇦

[@willtwain1383]

I would have to go back to work - no.

[@Sonoragrove4]

My husband was going to retire at 65 but when Covid hit I decided nope we are retiring earlier. Turbo charged the mortgage and paid it off in a year and husband retired a month later at 62 this year. We have a good pension , savings and I have my own business that I work from home that requires not a lot of time. Best decision we ever made , wish we paid off house sooner even tho it was already a 15 yr mortgage. Completely debt free! Heading off in a few weeks for a 18 day vacation to New England and Quebec City! Love your content ❤

[@ThisIsOurRetirement]

Thanks so much have a wonderful trip Cheers 🍷🌺🙂

[@IamaDutch-Kiwi]

You aren't alone in that Tina. Many are wary of retirement and losing that lifestyle and income.👌

[@ThisIsOurRetirement]

Lovely to see you so early Anita , it is hard knowing when it’s right to retire have a wonderful weekend Cheers 🇳🇱🍷🇨🇦🌺

[@dhiggs8886]

I agree. The main item in the U.S. that keeps people from going early is the cost of medical insurance. Most employee plans are much cheaper than purchasing independently.

[@gkennedy2998]

Thank you for your sage advice about not being able to "buy back" healthy retirement years. I was shy about international travel early in my retirement (let the money compound, you know). But, you are right: I can't expect that I will be healthy enough to travel as I get older. I will travel now.

[@ThisIsOurRetirement]

Wonderful we are glad to be back travelling and looking forward to being in Portugal 🇵🇹 over the Winter, hope you enjoy your travels 🌏Cheers 🍷🌺🙂

[@brucewilkinson8599]

With the exception of the Covid period where I lost two years of travel opportunities, I’m so happy I was able to retire “early” in 2017. As you mentioned Norm, when you get to the point where your work is no longer fun, then it’s time to move on. But I understand you, Tina, thinking initially that there was still more that you could do … yet luckily retirement won and I’m glad to be making the most of this time.

[@ThisIsOurRetirement]

That’s great Bruce so happy for you , we are glad we did early retirement in 2015 and haven’t looked back ( we agree we all lost two years of travel due to Covid ) Cheers 🇺🇸🙂🍷🇨🇦

[@maureenkent2565]

Hi Tina and Norm, thank you for this video. I rarely comment but I watch all of your content and really appreciate how practical you are and that you share your mistakes as well as what you’ve learned and accomplished. I retired 5 years ago at 55 after a long public service career and my husband has continued to work, and like Norm, he’s not enjoying the job anymore so he’s going to retire this fall after 38 years in the grocery business. We may sell our home at some point as it would really help fund our retirement but it’s so darn expensive to rent here in Victoria that I’m not sure we’d be any further ahead. Time will tell. Love your videos and thanks again!!

[@freedomlife3623]

Same here in Vancouver, rent is outrageous.

[@catharineho8264]

An option for you is you could rent out part of your home in Victoria since rents are so high.

[@ThisIsOurRetirement]

That’s great Maureen perhaps you could consider moving to a cheaper area , we moved 6 hours away and so glad we did everything was new and costs were so much lower Cheers 🍷🙂🌺

[@Jt-hl4yv]

we moved to Saskatchewan from BC in order to retire last Feb when prices were insane. So glad we did. We don't miss the hustle and bustle of Vancouver

[@frankalexander5401]

I am financially able to retire very well (still working at 75), but my biggest issue with retirement is I never developed any hobbies, I can barely stand to travel overseas once in 12 months, I don’t play golf, don’t fish, don’t camp. I don’t have any friends (by design) and I can’t stand my in-laws. Because of my time in the U.S. Army, I eat to live not live to eat; gourmet cooking is not a hobby and I really don’t get turned on with fancy cooking (my attitude on food is probably from eating too many military MREs). Living the life!! BTW, I still meet the U.S. Army height and weight standards (for my age and gender) and can still pass the US Army APFT (Army Physical Fitness Test). So I guess I am plenty healthy!

[@ThisIsOurRetirement]

Norm was a competitive pistol shooter and represented a region in the UK at competitions, have you thought about competitive shooting. Norm recently went with his son to a shooting range to shoot all the movie weapons. Had a blast...literally 😂😂

[@frankalexander5401]

@@ThisIsOurRetirement Wow!! Very cool 😎. Before I deployed to Iraq, I qualified as “expert” with my M9 service pistol on the Army pistol range at Fort Lewis (Tacoma, Washington). Colonels O-6) and General Officers in the US Army are issued only pistols because we are assigned a body guard in a combat zone.

[@bw5277]

Enjoy your channel. I retired five years ago at 64. I wish I had done it a couple years earlier. Made exercise and eating better my priority. Much healthier and happier. My wife and I work about 12 to 16 hours a week, make money for road trips and trips to Hawaii to see relatives.

[@ThisIsOurRetirement]

That is awesome! 🙂

[@jeremy1350]

Hi Tina and Norm. I just crossed 55 in July. And my husband crossed 51 this year. You gave us good food for thought. We have a lump sum inheritance coming, down the road, from my in-laws, they are downsizing, they sold their home in Ottawa and have gotten rid of everything they don't need, and moving into a smaller apartment in a few weeks time, and not in very good health now, and I will take your list to him over dinner tonight. We are trying to figure out when to pull the trigger on retirement for us as well now. Thank you for your insight. Sept 2023.

[@ThisIsOurRetirement]

Your very welcome Cheers 🌺🙂

[@Vals-2013]

Thank you my husband and are currently downsizing. We will list our house this late summer.its more work but I think a great reward at the end. Thank you for all your tips.

[@ThisIsOurRetirement]

Your very welcome 🍷🙂🇨🇦☕️

[@iany2448]

Thanks, Tina and Norm for the very practical, useful and firsthand based advice!

[@ThisIsOurRetirement]

Glad it was helpful!

[@njlifeandhealth]

Happy to see you guys happy in retirement! It can be a big shift and mentally draining.

[@ThisIsOurRetirement]

Thank you yes we do enjoy being retired Cheers 🌺🙂🍻

[@honnorjustice]

I can totally relate to Tina. My struggle is my work is my social interaction with society. I have a great friend for a colleague so that is a another issue for me. I don’t identify with the seniors but the mirror tells me otherwise! Also, as a couple we may have enough income but if one spouse passes away is there still enough? There’s lots to consider when going into retirement. Thanks for the talk.

[@ThisIsOurRetirement]

Thanks for sharing!! glad you enjoyed it lots to consider Cheers 🇺🇸🍷🇨🇦🌺🙂

[@wendycastagna8901]

I have a strong chance of getting early dementia so I’m going to travel and live life now no one is guaranteed tomorrow

[@ThisIsOurRetirement]

We hope not Wendy but do wish you well and many safe travels! ❤️

[@mjax8614]

Because I was widowed a few months before the retirement we were so looking forward to and our plans couldn't happen, I found I was retiring FROM the stress of trying to work when I felt so awful but not really retiring TO anything. I did have a retirement for a few years, took a job for a challenge and ended up staying. I still feel I don't have anything to retire to.

[@ThisIsOurRetirement]

Sorry to hear it must be very hard Take Care 🌺

[@susanacton5007]

Great advice guys. You can't reach back and reclaim those healthy, vital years. Agree that being without debt is the key to real freedom and being able the right decisions for you. The sooner you can get there, the better.

[@ThisIsOurRetirement]

We totally agree Susan!

[@davidgibson9503]

HI Norm and Tina Many thanks for your wise words on retirement im 6 3 and have been retired a few years ow since my wife past away and like you decided to do some travling using the rental from property as income till im 67 then shall be cashing in and going paces while the body still can what brought you to my attention was the trip on the clalifornian zephyr we too are going in the a accesible bedroom and found your video really helpfull while planning the journey which we booked 9 months in advance at a great priceso many thanks david

[@ThisIsOurRetirement]

Sorry for your loss David, we are glad you found our video helpful, good luck with your future travels.

[@poges]

Great video. I'm so glad I retired at 54 as my husband is ten years older and was already retired at age 56. So we were able to travel for ten years until covid. Now at 73 his health is in the downhill so I live in gratitude for our cruising days and some winter months in Arizona and California. I can relate to the paying off a house mortgage and that being your retirement funds. Unfortunately I had a divorce so that was cut in half. But still good. And I have a small pension from working in my twenties before I became a mom. I have brothers who don't like the word retire. Lol. I think it's important to have other interests besides work. For some work gives them self fulfillment like farmers. It's a big topic. Thanks so much for sharing your story.

[@ThisIsOurRetirement]

Your welcome thanks for sharing yours Cheers 🇺🇸🍷🇨🇦

[@Phiyedough]

I paid off my mortgage when I was 37 and have been debt free since then. I did make a retirement mistake though. My only income is from renting out my cottage in Scotland. My mistake was not increasing the rent each year. I didn't bother as inflation was low. Now inflation is high and my income is below the minimum wage here in Croatia. I can't increase the rent now as there is a rent freeze in Scotland. I have to somehow keep going for another 4 years when I get my UK state pension. I wish there was some flexibility on that i.e. you could start the pension a few years early but at a reduced rate.

[@ThisIsOurRetirement]

Thanks for sharing yes unfortunately inflation is catching up everywhere hope it all works out for you Cheers 🌺🍷🙂

[@johnnyboyvan]

I knew when to go. I am meeting a financial planner for tax reasons. No debts, a DB pension with a bridge and live in a beautiful place. I am blessed. Amen 🙏

[@ThisIsOurRetirement]

That’s great Johnny!

[@HT-sh1yj]

At 62 I’m still chasing unicorns but your videos are slowly shifting my mindset. Over the past year I designed and am successfully implementing a plan to pay off all my debt except my mortgage and to pay for several large home maintenance projects (like new roof, windows, siding and deck). I can’t see selling my townhome, though. My mortgage payment is less than what rent would cost in my area and I don’t want to move to a lower cost area because I’m single and my children and friends are all in this area. Otherwise my retirement nest egg is large enough for me to retire now - I just don’t want to be burdened with my existing (but quickly diminishing) debt. Anyway, after the first of next year I will reassess where I am and set a retirement date. The challenge at the time will be sticking to that date and not saying “just 6 more months” or “if I work just two additional years I can buy a vacation home in Italy”. It’s just really hard letting go of a good income in a job/career that I enjoy even though I’m wanting to start the next phase of my life and have the time to pursue various interests (time that I don’t have now).

[@ThisIsOurRetirement]

Thanks for sharing we wish you well with your plans and glad our videos are helping you Cheers 🍷🌺🙂☕️

[@pamp212]

Spot on video! Thank you! I’ve loved my job “until I didn’t” when I decided that I am done (and I still work) the focus was how every bit of income I have right now will be toward what retirement will look like. We have been out of debt for quite some time, including the house, and the last thing left to work on was the health care prior to 65 years old… here in the US. But I see the light at the end of the tunnel within the next few months! Thank you so much for the information!!!

[@ThisIsOurRetirement]

Thanks for watching have a wonderful weekend Cheers 🍷🌺🙂

[@Sdelgado0267]

Thank you again Norm and Tina for sharing your thoughts on this subject. Love listening to your vlogs, It helps me gage where I am at with my journey towards retirement. Only 5 more years. currently age 56 and at 62 I will start the remaining of my living years.

[@ThisIsOurRetirement]

Our pleasure! sound like a great plan in place we wish you all the best Cheers 🍻🙂

[@ttfweb1]

I really appreciate your transparency and honesty. I’m 60 and trying to decide when to retire. I like my job a lot, but thinking about the next phase. Great video!

[@ThisIsOurRetirement]

Best of luck!

[@hjahansouz]

Thank you Tina and Norm! I am close to retirement age, but I worry about unexpected expenses that may eat up our saving.

[@ThisIsOurRetirement]

We know that feeling that’s why we sold our house and decided to rent it takes all that away no unexpected maintenance or expenses just decide what shall we do today Cheers 🍷🙂🌺🍻

[@thiaco6203]

Could I just say, I walked away from a mortgage as well because of all the unexpected expenses of when something goes wrong! Tornadoes ripping trees and roofs, leaking roofs, air conditioners/heaters, hot water tanks, etc! Now I just pick up the phone and call my landlord!! SO much easier as a single lady!

[@lindaeliis8239]

You look forward to doing these video for us. Tina and Norm, I also look forward to your videos.

[@ThisIsOurRetirement]

Thanks Linda we appreciate your support Cheers 🍷🌺🙂

[@edwardlautsch8539]

The Tina & Norm team makes great advice as always! Thanks.

[@ThisIsOurRetirement]

Our pleasure! have a great weekend Edward 🍻🙂🌺

[@sonyan3504]

We are in the process of downsizing. Selling and donating stuff is hard however “our inventory” is too large now and we know we will need less when we sell the house and move to a smaller space and hopefully travel more.

[@ThisIsOurRetirement]

Yes it is hard and we didn’t downsize enough so our advice is do it more when you move to your smaller space Sonya Cheers 🌺🙂🍷

[@davidfolts5893]

Full circle, I love the wide assortment of cool tee shirts!

[@ThisIsOurRetirement]

Glad you enjoyed it David Cheers 🍻🙂

[@richardshaw4336]

Very interesting video. I can see the emotion in Tina's body language. Truthful and heartfelt. Hindsight is always winner though. I struggled with the thought of retirement also hence I still work part-time. I also procrastinate. The future is uncertain so each to their own. Eat well, sleep well and keep fit and if the moneys there relax and enjoy it. I went down to one car. No mortgage or high interest debt. As humans we are adaptable. The one thing that's certain is there's no certainly in retirement. Much credit to you both.

[@ThisIsOurRetirement]

Thanks so much!

[@brl6219]

I was listening to a radio show last week and they spoke about a 30 year retirement in Canada being a struggle with $1.6 million saved. I don’t get where they are coming from unless you are huge spenders. A couple who both get decent cpp and oas combined with dividends should barely have to touch their capital. A lot can also be saved potentially using pension splitting and cpp sharing.

[@ThisIsOurRetirement]

We agree thanks for sharing Barry Cheers 🙂🍷🍻

[@rozinant1237]

CPP and OAS combined for a couple is only 4 thousand dollars a month before taxes. Let’s say it’s 3400 net, minus 2K rent and utilities, minus 1K food and dining out, car expenses $400. You are now broke. Forget about travel or anything else. You need a healthy amount in savings to have a decent retirement.

[@alisonlevy2273]

Wonderful video. I love hearing the story of your journey. You mentioned you had no mortgage but did have a line of credit....would that have been a very small amount or would it have been equivalent to a small mortgage??

[@ThisIsOurRetirement]

A small mortgage Alison 🌺🙂

[@bradheddinger9540]

I just retired from my public school teaching job 8 weeks ago. I do have a pension and have been debt free for 4 years. My wife will retire from her teaching job in 10 months. She will also have a pension. Just like you Tina and Norm money isn’t the issue, but the psychological aspect of retirement after teaching 34 years is our only major concern.

[@ThisIsOurRetirement]

It does take a new mindset

[@tanyafulton583]

I too retired from teaching after 27 years due to my husband having a stroke. It was pretty ouch a have to at the time and my heart wasn't really ready but I wouldn't change the decision. Fortunately, a couple of years later my husband works from home and my district hired me back part time. It works perfectly for us and is easing me more gently into retirement.

[@davidsung8598]

We get rid of our second car. On top of that, we downsize to one cellphone. We still can use the second phone using wifi and hotspot

[@ThisIsOurRetirement]

Sounds great David have a wonderful weekend Cheers 🍻🙂

[@ceciliawilson6328]

Since I no longer own a property or have rental income, with just one salary, due to such an increase in rent, food, utilities, etc., for me, it is about the money. Have to wait another year to get paperwork, etc, ready for social security, Medicare, and collect a pension without penalties for withdrawing early. Definitely have to relocate to a smaller city, too. Being priced out where I am. Lots to do.

[@ThisIsOurRetirement]

Sounds like lots of great planning going on Cecilia, we too moved to a cheaper area it definitely paid off for us , enjoy your weekend Cheers 🇺🇸🍷🌺🇨🇦

[@mapsandglobespro]

All of the pensions you mentioned are probably in the form of annuities. I think they are a very important part of any retirement plan. They can cover the basic needs like food, utilities, and rent. I'm 65 and am slowly converting to the retirement mindset. I've not yet started social security but I have other options to provide an income to allow my social security to grow. I too have worked all of my life and it's been a challenge, to say the least, to recognize when to slow down.

[@ThisIsOurRetirement]

Thanks for watching we hope you have a wonderful weekend Cheers 🇺🇸☕️🌺🙂🍻🇨🇦

[@SJ-ze8qq]

Sage advice as always! Tina & Norm. Thank you.

[@ThisIsOurRetirement]

Our pleasure! 🌺🙂

[@DomenicMuoio]

Great video, real down to earth advice, not the world is going to end advice the mutual fund sellers push..just like to know where you buy the t-shirts Norm,,thanks

[@ThisIsOurRetirement]

Thanks for watching and leaving a comment, the t-shirts are from a Giant Tiger store in Ontario Canada. Also Marks Works Warehouse has some too a bit more expensive.

[@light-yi2me]

Great advise and I surely hope you 2 have many healthy years of happiness and joy ahead of you ❤

[@ThisIsOurRetirement]

Thank you 🙂🍻🌺

[@kytacomaguy]

Thanks again for sharing your experience with us!! Turning 58 in September looking at retirement next year. Great video!!!

[@ThisIsOurRetirement]

Your welcome we wish you well 🍷🌺🙂

[@wendellmonster6179]

I’m enjoying hearing your story about retirement I had one question you said you sold your home, so do you rent now or did you buy a smaller home?

[@ThisIsOurRetirement]

We rent a lovely two bedroom apartment Wendell , it’s great not having all the worry and stress of home ownership Cheers 🙂🍻

[@fanom1]

I retire at the end of next month (july 2024) I will be 68 and 3 months "young" I will take SSN at age 70. I am lucky because I have a military pension, a civil service pension and SSN...and a very healthy brokerage account and ZREO debt...I never even considered early retirement...I liked to work, I enjoy my job...Since our 50's we have travelled extensivley..so we have not "wasted" our earlier years...Retirement here in the USA is going to be a huge dissapointment fro many people...back in the day you got a defined pension if you worked for a Company for 30 + years...Today its the 401K that YOU have to contribute too..while the employer thats a few $$$ in...more and more people are having to try and live on SSN alone...Life is hard...you are one emergency from the street!

[@ThisIsOurRetirement]

Very true, thanks for sharing your thoughts and congratulations on your retirement.

[@MelliaBoomBot]

They have wisdom..god bless Norm and Tine 👍🏻

[@ThisIsOurRetirement]

Thank you!

[@susandickerson2663]

A little different in the U.S. Not everyone has a pension from their work. They may have a 401K or Roth, which is a form of personal savings. It is difficult to live on US govt social security (SS) alone. Your SS amount is based upon your contributions into SS via a percentage of your salary for the years you worked. Thus, your SS monthly check could be decent or at the poverty line. My kids do not count on SS being there when they retire. Thus the 1million dollar concept - having that saved up because their ONLY retirement income will be their savings/investments. That said, I looked at my monthly expenses, built in inflation and calculated the amount I would need if I lived to be e.g. 90. I 100% agree w the mental aspect.

[@ThisIsOurRetirement]

Thanks for sharing Susan have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🌺

[@maggie2244]

This is so incredibly useful. Thank you so much!!

[@ThisIsOurRetirement]

You're so welcome! Cheers 🌺🙂🍷

[@louiseperry6920]

Beautifully coordinated today you two. Love everything you share about retirement. So helpful for others. It’s not just about the money, your health is a top priority. Keep up the good work. 😘😘

[@ThisIsOurRetirement]

Thanks so much Louise! 💕❤️😀😀

[@dig494]

Hey, now. You have to remember a good part of your audience is down in USA. I pretty much gave up the ghost at 57 but I have veterans' health care down here. Otherwise talking at least 2.5k USD/month with large deductibles. Most folks here have to keep working just to avoid that. Good advice. Just have no debt if you leave the workforce. All good!

[@ThisIsOurRetirement]

We are very grateful to our U.S. viewers and there is no way we can solve the early retirement healthcare expenses. Thanks for watching!

[@kellyburnette1900]

Thank you! Thank you! Thank you for that final piece of advice!!

[@ThisIsOurRetirement]

You are so welcome! have a great weekend Kelly Cheers 🍷🙂🌺

[@jerrypattenaude9456]

I love your channel and all your honest advice. I just retired last year at 55. My question is what is the percentage of income that come from your youtube retirement income?

[@ThisIsOurRetirement]

We don't spend any income from YT

[@daraboyer6343]

Thanks for another great video, appreciate your sage advice!

[@ThisIsOurRetirement]

Glad you enjoyed it! have a great weekend Dara Cheers 🍷🌺🙂

[@brassj67]

I had 25 years of NI contributions towards my UK state pension before I emigrated to Canada and only needed another 5 years' contributions to claim full pension. I didn't make voluntary contributions, but the UK government then increased years from 30 to 35 years of full contributions so that left me 10 years short. They did increase the pension considerably though when they did thst. I am paying voluntary contributions now, £3.15 per week and need another 8 years of contributions. I do have to wait until 67 to start claiming though but it will be worth it

[@ThisIsOurRetirement]

The changes to pension law can be upsetting, good that you have a plan to get full contributions, good luck!

[@charlieboyvespa8610]

First time ive watched your videos thanks guys! Im 47 and ive no mortgage, a good private pension which i take take from 55 and sufficient savings if i wanted to retire now. Its having the option, the choice what makes all the difference. I work part time now and enjoy myself because its my choice to work not a financial necessity. There's definitely a balance to be found, and everybody's will vary. I look forward to more videos! Work hard, save harder, plan and anything is possible....ish!

[@ThisIsOurRetirement]

Welcome aboard! glad to have you watching our videos Charlie looks like you are in great shape for your retirement Cheers 🙂🍻

[@peterh9238]

If in the UK, double check to see your eligible to take pension @ 55 as its going up to 57 from April 2028 for most private pensions in the uk.

[@charlieboyvespa8610]

@peterh9238 great advice, I called my.pension provider and I have a guaranteed 55 age for withdrawl, I had a cheeky drink or two on that knowledge!!

[@livhuff2854]

We appreciate your input and watch each week. However, I retired last October and we have found that with the increase in rent over the last number of years it is impossible to live solely on CPP and O AS in Southern Ontario without supplimenting our income out of our savings from the sale of our house

[@ThisIsOurRetirement]

It can be a challenge, we really do have a daily frugal budget and can still manage on government pensions, paying rent etc.

[@RetiredLovingIt]

It was harder for Terri because working in ministry was very fulfilling. We possibly could have retired a year or two earlier, but we don’t have any regrets. We did what we felt was right at the time.

[@ThisIsOurRetirement]

You had a calling, no retirement necessary

[@RetiredLovingIt]

@@ThisIsOurRetirement absolutely you never totally retire from ministry 👍

[@terryevp4084]

These video's contains great wealth of information. Many Thanks Guys...!!!

[@ThisIsOurRetirement]

Glad you like them!

[@dorinatudisco1308]

Thanks Tina and Norm. I appreciate your insights and lessons learned. I plan to quit my FT job at 60 and then either do a fun PT job or not work at all. That’s 2 years from now. 😊

[@ThisIsOurRetirement]

Best of luck! 😀😀👍

[@jhors7777]

Thanks very much for posting

[@ThisIsOurRetirement]

You're welcome have a wonderful weekend Cheers 🍷🙂

[@marksmetalmachines]

Housing needs to be considered based on local conditions. Some countries have rent caps and others have rents exploding. One reason to own a home is to avoid being exposed to these fluctuations in retirement.

[@ThisIsOurRetirement]

Yes and No , even a mortgage free home has unexpected maintenance and expenses, where as when you rent you costs are contained Cheers 🌺🙂

[@vivoentierra]

People are afraid b/c they are brain washed what a good life style should be. lacking of the capability to manage wealth to generate cash flow possibly scared away more people. Once you overcome these obstacles as well as mindset to take a big break in your life, the choice becomes easy. Thanks for your sharing

[@ThisIsOurRetirement]

We agree, for some people they can’t transition into a retirement mindset of less consuming. Thanks so much for sharing your thoughts.

[@evadeanu1]

Excellent advice again you guys. Enjoy a looong retirement!

[@ThisIsOurRetirement]

Thanks so much! have a great weekend Eva Cheers 🍷🌺🙂

[@danbong7974]

Norm&Tina, I recall you have kids, are you able to share how kids factored into (or not) into your retirement plans or as you look back, what went well or not, juggling the family dynamics (kids into early adulthood) into your early retirement, thanks

[@ThisIsOurRetirement]

We have always considered our children and Grandchildren, when we retired we moved to be near to one after spending years being with our other child . We felt sharing our time with both of them was important and is helping our retirement Cheers 🍷🌺🙂

[@tammydonnelly6728]

It's much harder to retire as a single person. I'd love it if you had any advice for those of us with one pension, etc.

[@ThisIsOurRetirement]

It’s so important to have savings whether you are single or a couple , perhaps look to reduce expenses that can also help too Tammy Cheers 🍷🙂🌺

[@billyb5057]

so interesting to hear your thoughts and dos and donts of retirement as it was for you *thumbs up👍Au💯full viewed😎have a great weekend😀*

[@ThisIsOurRetirement]

Awesome Billy! 🇨🇦🇦🇺

[@cricket6410]

Okay to allow fulfillment of wants, too. Needs only retirement sounds like deprivation. We’ve sacrificed and worked for decades. Self indulgence now or never? (If assets are sufficient for it.)

[@ThisIsOurRetirement]

A little bit of both goes a long way 👍

[@list-and-sell]

Agree with everything you both said. Focusing on income and whether it meets your needs is a great way to determine whether you're ready to retire. Amazing how little you actually need if you have no debt. I enjoy your videos and I'm looking forward to your adventures in the Algarve! Do you think you'll ever cruise again?

[@ThisIsOurRetirement]

Absolutely! we are not sure if cruising is in our plans 🚢Covid changed our thoughts on it and when we start to think more about it we hear stories of it back again on ships. Not sure we need to be in such a small space with so many others ( our personal opinion only ) as many others have no problem cruising again Cheers 🍻🌺🍷

[@christopherhurley8694]

Retirement is scary. In the US, it's more about insurance before Medicare, the costs are scary just for basic coverage. I'm 57 and debt free and in good financial shape but I really like my job and income. I want to travel retirement. I envy your lives and thankful for your advise and videos. Love your channel. I would like offer some advise about your new diet. Keep eating what you like, just in moderation. Have your toast with honey or jam, waffles with Canadian maple syrup, eat your pasta. Can you buy a treadmill? I walk daily. 30 minutes. use weights. 8000 steps are good but are your burning calories or just staying active? Do you have a fitness strategy?

[@ThisIsOurRetirement]

Think everything in moderation Christopher, we have treadmills in our fitness room here , plus a pool which Tina loves to swim in but we do enjoy walking together Cheers 🍷🙂🍻

[@amandaleung1643]

Thank you for your advices. It is extremely good. I can not wait you both go to Portugal in January 2024.

[@ThisIsOurRetirement]

Our pleasure! we can’t wait to get there too Amanda 🇵🇹🍷🇨🇦🌺

[@janicespiers4123]

Great information. Thank you for sharing. The biggest myth is having to have a big nest egg. Get rid of debt and leave in your means.

[@ThisIsOurRetirement]

Glad you enjoyed it Janice Cheers 🍷🌺🙂

[@jmcampbell05]

AWARD TO YOU FOR THE MOST SUBTLE, LEAST OBNOXIOUS WEAVING IN OF A SPONSOR PROMO. THANK YOU FOR THAT EXAMPLE!!

[@ThisIsOurRetirement]

Glad you noticed it was deliberate 😂😂

[@jfk5402]

Nothing wrong with that. You can always fast forward. I usually play the videos at much faster speed anyways.

[@silversnow6113]

@jmcampbell05 What do you want?! Norm is a sales guy, and a great one at that! Lol

[@barbudo12]

"Esoteric", not" isoteric". Helpful video though.

[@bcusaaus4749]

You described my younger years to a T😢! But, finally I got on the savings/ no debt wagon. I could’ve had over 2 million by now with investments. I made consumerism stuff rich. At 57 surrendered to it .I got a long way to go now but finally happy now.

[@Gotsomethingtosaynow]

Very valid points

[@ThisIsOurRetirement]

Thanks

[@dancurran8977]

Thanks for the video. I always get something out of them.

[@ThisIsOurRetirement]

Thanks Dan Cheers 🍷🌺🍻