The One Cost You Must Cut In Retirement

[@FoyLo]

Great video! 2 comments: 1. Not only better assessing Amazon purchases will reduce costs in the expense column, selling stuff you don't use will add to the revenue column! Partner and I decided to roam the house and sell anything we are keeping but are not using, as if we were selling the house (although we are not! Lol). 2. Cost of insurance (house, car, etc.) : get on the phone once a year and shop around. Potential savings can be significant.

[@tonylevine2716]

Retired at 55 and just turned 57. I have bridge accounts to take me to 59 1/2. Also blessed to have a military pension and VA disability. The Rule of 55 also applies to me, but I don’t plan to use it. If you can retire without a mortgage, that is the biggest expense to rid yourself of. Everything else he suggests is on point. Don’t work till you die, folks, because life is short! 🙏🏾❤️

[@finspiration2666]

Stop coffee out and eating out, lunches or dinners, you'll eat better at home with a whole food (minimal processed), no seed oils snacks / meals. Dinners out on social occasions with friends only. Go to the senior center for socializing, not the expensive gym memberships.

[@beattyj8]

Great advice here. I remember a high school physics teacher saying something about habits and discipline that hasn't left me: "if they were even a milimeter off on the trajectory, without adjustment they could have missed the moon by tens of thousands of miles." Yeah we shouldn't sweat the small stuff too much second by second, but doing an occasional true-up and course correction can make all the difference in the world. The other thing I think that saves me a lot is re-negotiating every few years. Internet, mobile/cellular, and insurance are three things that seem to be subjectively priced on what people will pay, and then increased based on 'what people will pay attention to' and until there's legislation to control them from the 'boil the frog slowly' techniques you really have to call and either threaten to leave or just outirght leave/switch every few years to get a reasonable and stable cost.

[@smartfinanciallifestyle]

Little changes can live to big rewards - that's the key to remember!

[@brianmurphysn]

Retirement planning feels overwhelming these days. My 401(k) isn’t growing as I expected, and I don’t want to rely solely on Social Security. How are people managing to retire comfortably without running out of money?

[@rwheeler6765]

I leave in Amazon cart save later for weeks. I can monitor the cost changes, and reviews over time. Also is it worth and need over time.

[@laurie3085]

Health insurance is my biggest fear. I’m 60 but still working because of that huge expense I don’t want to have in retirement.

[@miltonprell8834]

I am not an AARP member due to their politics. And somehow they never sent me their usual membership blitz material even though I’m 59.

[@tjava2338]

Amazon can be used wisely to save time.

[@ursularandle683]

I have had AARP since I turned 50. Until I discovered Costco travel, AARP always had the best rental car rates.

[@SlamboG-h3v]

Right on the money content!

[@tjava2338]

Automate everything that is possible- reasonable. Buy bulk dry goods like kleenex to save time in grocery store. Or order what is difficult to load. Cut time in store by 70%, hours of life is wasted shopping for that which can be automated 🤷‍♂️

[@erickarnell]

High yield savings accounts are much more common today that under the zero interest rate regime we had been under.

[@wildfoodietours]

Cut all debt by retirement especially credit card debt with those sky-high interest payments!

[@voodoodrug]

Here is one that was a game changer for me. Well before I retired I downsized my house to a smaller dream house( actually like it more). Saved a million and easier to maintain as I get older. Then there’s the forever car I barely drive that will last forever 🤓 You picked up the Pennie’s stepping over the dollars 😡

[@RockerProf]

Buying Starbucks coffee. 6 bucks at least a crack. And $2190 a year. Maybe instead...a weekly treat.

[@drescherjm]

As a person looking the rule of 55 health care cost is my #1 concern.

[@Vanfrompoint]

If downsizing, watch property taxes and HOA cost

[@pensacola321]

We live well, spend as we wish and travel a lot. But run a tight ship. I hate waste and pi$$ing away money.

[@yarnmotivated]

AMAC is what we signed up for, not AARP.

[@mkeller8114]

Use a ladder of short term treasuries for your emergency money. 4, 8 and 13 week t-bills in your brokerage account. Money will always be safe and available and currently earning around 4.5%. Banks don’t pay enough unless they lock you into longer duration CD’s

[@Michael_Thomas134]

A properly planned retirement includes a continuous income stream

[@jack333p]

Do a protest of your local home real estate taxes, could save alot. Get a home appraisal. From county tax assessor get protest form, complete it while attaching appraisal. County reviews,many time tax assessment is reduced.

[@ernestojajan1419]

On the Amazon purchases. use their list instead of the checkout.

[@rsmith7292]

Subscriptions! I recently cut some -- and Amazon Deals! Thanks!

[@jarvisskooge8602]

An expense I've been trying to cut for years is having my mother in law over for dinner... she likes to eat! Its a huge expense 😂

[@willseely4515]

Cash in a safe place will be available when banks close. Consider the lost interest an insurance premium that you control, not insurance company's. Interest on 6 months take home pay is in the hundreds not the thousands.

[@DaveArnold-r4j]

We go out to eat less. If we go out with friends that is okay. But we have eliminated of lot of the routine running out to lunch just because I don't feel like cooking.

[@jasonbell3392]

Monarch is great. Damn, we eat out a lot and love Amazon.

[@royharris2357]

I did cancel 3 subscriptions last 2 months the worst was spotify you can cancel easily that's what they say after going through multiple hoops my account was cancelled low and be hold the following month I was charged again so went through the whole process again, it did say you are now cancelled time will tell.

[@b-rad-3849]

You don’t even need to be 50 to join AARP. My wife is 43 and she is a member

[@beth3535]

First point is something I’m currently addressing. It’s been a major lost opportunity.

[@rcDoom]

Cancel Amazon Prime thats a good one 👍

[@EJJ-EvArms]

One tip Dave, instead of leaving the Amazon item in the cart, add it to an Amazon wish list. Why? 1. It moves it aside, rather than continuing to stare you in the face. 2. If you share an Amazon account with a spouse ajd/or family member(s), another person won't inadvertently buy it because it was in the cart. :-) Good advice on this video, as always.

[@astroboy483]

I’m not an AARP member because of their political positions.

[@jazzjokesjalopies]

We joined AARP upon retiring (at full retirement age), and obtained dental insurance through them. This particular insurance carrier was accepted by a dentist located much closer to home than our prior policy, and the coverage is better for about the same premium.

[@jean6460]

Thanks

[@thomasnemecek-br3cz]

Haircut thanks!

[@ozzman7116]

Wondering how Costco car rental rates compare to AARP. Not a AARP member, but use Costco travel a bit and find their hotel and car rates to be pretty good.

[@ninajohnson6578]

I joined AARP because of their advocacy for seniors…especially social security and Medicare.

[@nfaoussoukouyate1963]

Is depant the Bank company

[@dalewetzel3029]

You can join AARP at age 18 and get discounts. There are some you will not be eligible for, but you can get discounts on meaningful things like hotels, flights, etc.

[@Joe-gl8sr]

There is nothing more embarrassing than giving a vendor more money than you should. Get that AARP card and use it.

[@steves3234]

I got AMAC instead of the liberal AARP

[@mkeen1808]

I got AARP for the hotel discounts

[@johnlutz8364]

The best way you can tell your clients to save a ton of money, especially if they're retired, is to move out of CHICAGO!!!

[@jpturner171]

Great Advice Dave! We plan on a municipal bond ETF for our first bucket. $400,00 brings in approx. $1,200/month dividend that is TAX FREE! It’s also stable. Not a fan of AARP, we are members of AMAC. Happy 2025 to you, your family, the Streamline Financial team and your listeners! PS: 5 months and counting!!!! Semper Fi! 🫡❤️🇺🇸