The ONE Cost You Must Cut In Retirement

[@richardhudson1243]

People grappling with the difficulty of meeting essential expenses often encounter this situation due to inadequate savings during their working years. The decisions taken in readiness for retirement carry extensive consequences, as demonstrated within my own family dynamics. Differing investment approaches yielded disparate results. Guided by a financial advisor, I'm currently retired.

[@JacobsErick-u8r]

Indeed, that's accurate. I'm currently in my mid-50s. My wife and I were on a similar path until a couple of years ago when I decided to shift my investments to her wealth manager. While I haven't quite caught up to her accumulated profits over the years, I'm at least earning more now. I'm generating income even before retirement, and my retirement fund has experienced remarkable growth compared to what it would have with just the 401(k). It's quite amusing.

[@LUCIASMITH-d1z]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@winifred-k9e]

Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.

[@LUCIASMITH-d1z]

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

[@HoskinsShanellNicole]

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

[@MagdaleneM-f3q]

One of my biggest financial mistakes was not being born in 1930 and dropping $100 into the S&P 500.

[@jessicasquire]

Timing the bottom of the market is notoriously difficult, even for seasoned investors but consulting with a financial advisor can also provide personalized guidance tailored to your specific financial situation and goals.

[@Lemariecooper]

I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders

[@BaffySchenck]

Sounds interesting! Please can you leave the info of your lnvestment advsor here? I’m in dire need for one

[@Lemariecooper]

JULIANNE IWERSEN NIEMAN

[@Lemariecooper]

My advisor is JULIANNE IWERSEN NIEMANN

[@jeffDwyer1]

I retired at 60 with $750K in my 401K and IRA's. My wife and I did just fine in expensive Bergen County, NJ by living within our means. Home was paid off. No car loans. By withdrawing bare minimum, our health insurance costs were almost non-existant due to Affordable Care Act subsidy. SS kicked in at 62. Medicare at 65. Six years later, my IRA balances have grown to $850K and now my wife is turning 60 and her IRA's are now available. Anything is possible if you live within your means. .

[@wmwoods-l4f]

I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report

[@Amberabove]

I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $80k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.

[@CindyValenti]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

[@Amberabove]

Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@CindyValenti]

Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.

[@jayholiday256]

Funding adult children is a big one

[@karenjensen2345]

Guilty as charged

[@carianin5293]

I could have retired years ago.

[@Diana-007]

So true!

[@ceebee223]

Ugh…sadly true

[@jtixtlan]

That is the biggest one for me! That is the one my husband worries most about as I approach retirement. For the last eight years, we have lived on my husband‘s salary, and all of my take-home pay, went to the children’s education and supporting them while they were students. They are now working full-time and debt free! I have no regrets. However, they still live at home so that they can save up some money and we don’t mind that. It costs us little to have them here and it saves them each $2500 per month to start their own nest eggs. But, we find ourselves frequently subsidizing them by purchasing all of the groceries and paying their deductibles and co-pays for healthcare Expenses and occasionally helping with this and that. We took them on a family vacation this year and it was really wonderful for all of us. I gave them one year notice that as of my retirement date in February, we will no longer be able to subsidize anything except a family trip every couple of years.

[@onehitpick9758]

All those expenses are absolutely, absolutely negligible compared to things like property taxes, health insurance, and more recently, property insurance.

[@redonionsyummy]

@@onehitpick9758 I hear you! Property taxes and property insurance increases can push one to move. I don't want to move, but being adaptable is a healthy consideration

[@purpledaisy0865]

Totally agree. I would add: uncovered medical expenses (such as denied claims), high-cost repairs for your home, and long-term care insurance premiums.

[@susanmalloch9375]

@@purpledaisy0865finally had to quit paying on the LTC insurance when premiums increased by 15% year after year. I now have a locked-in reduced benefit that I can call on if/when I need it.

[@philipem1000]

As a 75-year-old who lives very comfortably on his social security check, I basically say do what you can afford to do that makes your life better. I buy a lot of stuff from Amazon as it happens because I will buy something if I think it will make my life easier or simpler. Every now and then I go back and review the things I bought and I hardly have any second thoughts about it I use those things. And the convenience is a big deal it saves me from driving which saves me money as well. But of course affordability and your particular circumstances May dictate against something. I am frugal I have Amazon prime obviously and I hate KZbin commercials so I paid to have them removed otherwise I get 90% of my content for free on KZbin. If you use the gym pay for the gym if you like the magazines and you really get value out of them subscribe to them. I think the real key is to be thoughtful about how you spend your money. Get value in exchange. Yes as you get older you realize that stuff and things do not provide happiness, and you should look to other things. But again if something gives you real pleasure, by all means...

[@michaelspurling4376]

You are absolutely correct about premium fuel. Use the type of fuel that your vehicle is designed for!

[@ChristopherEvans-650]

Retired from Costco, 37 years, so I have a free lifetime executive membership. Agreed on the gym membership, I've dropped almost 40 pounds since retiring, this past July, walking and hiking and doing 6 days a week at the gym, 3 days a week upper body, 3 days a week legs and abs.

[@stevestowell-virtue3781]

If you live in cold, snowy country, regularly washing your car with an underbody wash, will make it last many, many years longer without rusting away. Not an option if you plan to keep the car long term. Premium fuel is higher octane. The higher the octane, the higher the flash point. High compression engines require higher octane. Preignition caused by low octane fuel in high compression engines will destroy them.

[@mlee6136]

These tips are not only for retirement. It’s just general great advice for all ages. Nice vid

[@PAL-CAN]

I live in a location that I can walk to the grocery stores, restaurants, dentist snd doctor. I sold my car. In the past year I have used the bus and uber a few times. I rented a car twice for out of town trips.

[@sanjosemike3137]

Owning an enormous home in retirement and a swimming pool to "attract" your grandchildren to come and visit you is not necessary. By the time your grandchildren are teens, they are interested in their own friends and NOT their grandparents, even if you have a huge home and enormous pool. In the meantime, you are paying huge taxes and upkeep on an enormous home you don't need. Don't be "hurt" by the fact that your grandchildren are no longer interested in you. This is normal teen behavior. You were the same way at their age. Sanjosemike (no longer in CA)

[@carolwilliams8281]

My granddaughter became uninterested in gramma when she turned 7. We were so close, it shattered my heart.

[@sanjosemike3137]

@@carolwilliams8281 Self-obsessed children are also part of the schematic of childhood. I am so sorry you have been hurt. If it gives you any solace, she is still very young and there is a lot of time for her to learn. In the meantime, Carol, I thank you for writing. I am thinking about you now. And wishing you well. Today is my wife and my 57th Wedding Anniversary. Love, Sanjosemike (no longer in CA)

[@Barb6106]

Totally agree! You have to do for yourself. It’s a sad part of their growing. I spent as much time as I could up to age 13.. then things changed drastically. But I have wonderful memories-and I hope she does too. Her social life, sports and friends take up her time now, as it should. I say get a pet. It’s something to shower with the affection you have-and it brings you joy and company.

[@mommaoinnh2674]

Hey Mike, this Nana owns a second home in the White Mountains of NH. My kids come from CA, from MA & NH as often as they can to swim, to boat, to ski in the winter. A pool has no view, and I wouldn’t go visit anyone with a pool.

[@user-od9iz9cv1w]

Agree with stuff. A touch of minimalism frees the soul. My wife and I take time to keep the house organized and dispense with stuff from the past that serves no purpose. Any subscription that brings no joy is a great thing to dispense with. I also think it is good to learn to spend on services. I used to think I had to do every little task around my home. I'm learning that with money in the bank it is a real treat to just call the plumber or electrician or a handyman to get stuff done and focus my time on the stuff I enjoy.

[@sharky6128]

spend money on a family vacation, if you can, memories will last a lifetime....PRICELESS !!!!🎉

[@cjhoward409]

Kids remember experiences more than a bunch of toys

[@Lynnys1]

I agree that memories are important. The problem, especially in America, is the belief that they are necessary even when you can’t afford them and use them and use credit to pay for them. Also this need to have expensive vacations when really the money can be used for better reason (paying a bill, reducing your mortgage) and a lower priced vacation as well. The amount of debt that people rack up is incredible, especially when it sometimes takes months or years to pay off a week or two long vacation.

[@sportsterrider2087]

Property tax should at age 60 should be reduced by 20% and frozen from future increases.

[@AzulWells]

I like that idea. Now we just need our states to agree ... 😎 Azul

[@SunSandandSurf]

Dr. Bronner Sal Suds...Diluted the concentrated amount and it is amazing. Use it for everything and I love the spruce/Fir scent.

[@The4Crawler]

I cut the cord on cable/satellite TV over 10 years ago and don't miss it. I did do one sports streaming service (EuroSports) since then but they recently shut down and I find I can access all that content for free now. I set up a really nice over the air TV system at home (video: Over The Air TV System Overview) and get upwards of 160 channels and only pay $40/yr. for an electronic program guide service. Biggest advantage of that is I've not had to contact the cable company once for assistance and then wait around all day for the tech to show up.

[@susannaseay4799]

Auto club membership- i have roadside assistance added to our car insurance, it's really cheap and includes towing etc.

[@mommaoinnh2674]

Me too. Amica. It’s cheap!

[@jgalt5002]

Spring water is a investment in your health . It depends where your water from the tap is

[@janelsara6404]

Better to buy a water filter

[@Katrn30]

Drinking water out of a plastic bottle is bad for your health and the environment. Filter your water.

[@Retired-jr3qs]

I'm not cutting out anything I enjoy.

[@mlee6136]

Cigarettes?

[@cjhoward409]

You will if you need more money for essentials

[@miketheyunggod2534]

I agree. That’s what retirement is all about. Paying for all things you enjoy. Cut nothing you enjoy. Time is running out.

[@jamesreed1969]

👍

[@gregkloe]

Gym membership is at the top of an expense I'll keep in retirement. Totally agree with "stuff"!

[@michaelkearney7923]

My Medicare plan includes Silver Sneakers which gets me free access to most clubs in town.

[@nicodimus2222]

Some stuff absolutely makes me happy and is worth the money. I think if you're just hoarding all kinds of crap and it's piling up in your house, you need to be more purposeful with your buying habits.

[@dougrobinson8602]

AAA membership is totally worth it. When my otherwise rock-solid Honda CRV refused to start even with a jump, I had it towed to a shop with a loaner car. It was pretty painless. It would have cost a ton to pay for the tow out of pocket. Premium gas is an absolute must if your car is designed for it. If your engine is designed to run on 87 octane you're wasting your money. If your car is turbocharged, premium is probably a good idea. Detonation kills engines.

[@lyndakling901]

Get rid of the turbo charged car…..

[@philc.9280]

Costco saves not just for groceries and clothes but also the best gas prices here in Northern California

[@dougrobinson8602]

Costco membership is worth every penny. Their tire prices are excellent, and I recently saved a bunch of money when I replaced our air conditioner and furnace. Costco gas is not just inexpensive. It is also top-tier rated. That means it has a much better detergent package, which is important.

[@heidikamrath1951]

Bought a BMW through Costco in 2004, and my home through them as well shortly thereafter. Gas, tires. Now with an electric car, gas no longer brings me to Costco, but the organic ground turkey does as this is what I use to make dog food for my spoiled babies. Their mama eats rice and beans, lol.

[@mchyinLyons]

I'd say, storage fees, if it's in storage ditch it!

[@heidikamrath1951]

Yes!

[@cmartinez0914]

Good thinking on eliminating storage fees! Paying storage long-time is like buying your stuff its own apartment.

[@BertDuMars]

I love my gym, pickleball, and Costco memberships and use them weekly if not multiple times per week. I have been eliminating magazine subscriptions as many magazines now do not offer the same value they did in the past. My 17-year-old Lexus RX400h requires premium gas. I tried lower octane gas, but it eventually caused knocking, so I went back to premium. Considering how long the car has lasted, babying it with premium gas seems a reasonable cost.

[@michaelspurling4376]

The comment about Boston drivers really hit home with me. The one time I had to drive in Boston, I thought I was going to die.

[@georgekane1985]

I could honestly cut out my Costco membership since most discounted items are available at Walmart for almost the same price. However when I consider the the gas savings, I probably break even, but I do consume more. 🥴

[@s.m.7018]

You would understand bottled water if you lived in Southern California. The water from the taps is nasty and has caused kidney stones.

[@dzssaz]

An under the sink filtration system makes the water better than bottled water.

[@exhausted.dad.here-]

I agree. Love my gym.

[@ronica2623]

Yeah, when you are 4’11, petite and over 60, you need to check your bag

[@nancyfeeser4653]

Plus the started limiting what you carry on because of people NOT checking their bags.

[@scrimmy45]

Never understood bottled water. Always understood bottled beer.

[@sanjosemike3137]

Bottled water is necessary to use if you have to flush out your sinuses with water. I suppose you can pre-boil it too, but water out of the spigot may have some chemicals or other contaminants that are best not used on your sinuses. Sanjosemike (no longer in CA)

[@pauljohnson7770]

Just cut out caring about others

[@darlenelarochelle4011]

I concur.

[@Cookie-op2pq]

None of you live in Flint Mi.

[@ds61821]

Costco club membership fee is dwarfed by the savings in what I normally purchase. And their gas is said (by a Volvo dealer) to have outstanding quality.

[@13noman1]

I think your final point (experiences over stuff) and "what brings you joy" simplifies this list wonderfully. If something brings you joy (like a streaming service or a regular car wash etc) then go for it but certainly drop anything/everything that doesn't bring you recurrent joy!

[@mauroleschziner4442]

If you are concerned about the majority of this list, you should not retire

[@beerster]

Thus I keep working at the age of 72. I'm blowing most of my money on my girlfriend. I'm just stupid, I guess. I also have a good paying job and lots of freedom.

[@a.e.7988]

Agreed

[@DouglasJWilkening]

I really don’t get why guys will pay someone else to mow their lawn and then pay someone else to shovel their snow and then pay for a gym membership to “get some exercise”. Do your own yard work and your own home repair and you’ll get your exercise organically.

[@ballyantonia]

Heck yeah. 74. I chop wood,haul,heat . No gym,yuck, fluorescent lights other peoples sweat…

[@Kimberly-yx3gn]

I live in California and Costco is the lowest priced gasoline and I make up the cost of the membership in gas savings alone.

[@joeysocks5718]

It's a sin they make seniors pay property tax until they are 6 feet under!

[@jaindeau772]

I didn’t have children and resent having to pay for fabulous new schools buildings. I think childless people should be exempt from the schools portion of property taxes after 25 years. I’ve more than paid the system back for my own education.

[@heidikamrath1951]

@@jaindeau772Good point! As a childless person and homeowner since 2000, I approve this message.

[@patrickroragen1059]

It's called a longevity tax

[@dks13827]

no, you still pay even then. (:

[@RGMDG]

100% agree. There should be legislation along the lines of: if you own your home ( primary residence)and have lived there for 20 years or more. You should be exempt from property tax until you die or sell the property. With property taxes NO ONE Ever truly owns the property. If you don’t pay taxes on it, they will take it from you. That is immoral.

[@JacqueScherrer]

Hey Azul, I agree to cut out stuff. That said, I love my Amazon because I’ve always hated shopping. If there is something I need, I can find it much easier on Amazon without having to run all over town through the stores which I dislike. It’s such a time waster. I do open my packages because the things within are things that I need.

[@garyclark8034]

I only have one thing that I find annoying on this list is I’ve given up with carry on luggage. The reason are the jerks that got on the plane before me that brought so much crap that they’re not even sitting close to my seat when they filled the overhead bin. I finally just gave up and decided should my luggage get lost I’d just have to buy my emergency things at my destination.

[@kingakhenaton5111]

I love my gym membership. Also the social interaction. ❤

[@minutemanmuster]

Maybe a manicure can be an affordable luxury, but as we age, a pedicure becomes a necessity. Anyone who has difficulty bending down to keep their toenails trimmed and in shape needs to just get a regular pedicure

[@SkySkier]

If I have to worry about the items on this list I have bigger problems.

[@Jane5720]

I love a nicely wrapped gift and I love giving them. I have no idea why that wouldn’t even on there. I have an extensive gift wrap selection

[@jaindeau772]

Airlines keep downsizing the carry-on size, and many have imposed weight limits, so just when you think you have packing down, it all changes.

[@kendriver3278]

Great content! What would your strategy be on the cost of a financial planner? My parents are in their 70's and retired. They've worked with a great financial planner that helped them achieve a great retirement. But now that they are executing the plan, is it still worth it to pay the financial planner for an annual checkin? This cost is way more than anything else on your list.

[@juliehogle5252]

Fee for service to eliminate bias

[@michelletripp655]

I use the library for newspaper and books

[@TimeIdle]

I thought for sure it would be alcohol.

[@michaelspurling4376]

My retirement would not be nearly as happy without the occasional dram of good single malt scotch.

[@elisacohenusa]

Rental car insurance. Be careful. My brother just got hit with $1500 in additional fees such as “loss of use” and “devaluation “ after an accident with a rental car. His insurance paid for the repairs minus the $500 deductible.

[@MegaSuperEnrique]

Ive found a checked bag is the same price as the overhead bin. So my wife and I combine into 1 checked bag.

[@lrogers707]

this was great - thank you for sharing

[@patricklippert5623]

The rental car insurance is a scam. Your own personal auto insurance will always be dinged first through subrogation. I look at it this way… I take the same risk driving my own car everyday and it’s worth more than the Nissan Craptra that I’m renting. Why would I care more to insure the rental vehicle that I’m absolutely going to walk away from? It’s not like I care if the body shop didn’t get the paint 100% perfect… not my car.

[@willystanford]

In some countries like mine the law requires payment of certain insurances which of course the rental firm passes on to the renter and any nominated drivers.

[@fatpatridesagain]

Wow!!!!!!did that hit home.......Thank you😀

[@tracyaf6084]

Often you can check your carryon at the gate for free because they know too many people take them and the bins will be full. I do this all the time.

[@2Rugrats9597]

Even $50’a month for a gym membership is nothing especially all the cardio classes, machines, weights, swimming , saunas , jacuzzis , etc. That is nothing compared to the health benefits you get for the cost.

[@michaelkearney7923]

My auto insurance covers towing.

[@sharky6128]

I have CAA and it save me a huge bill for a 300km tow !!! When I needed a new car battery CAA was cheaper and had a longer warranty ... worth it for us 🥰

[@TheBryanmauro]

The one cost I would suggest: A financial planner. There is software that works without bias and most CFP's use the same software anyway. (i.e. Bolden)

[@jtixtlan]

Boston born and raised - learned to drive there in the 1970s. I would not recommend that a visitor rent a car for use in the city. Take the T, Lyft, or a cab, or Uber - it is a great walking city!

[@bradschroeder809]

Property taxes. I need to move when I retire because I live in Illinois!

[@h.s.levine2932]

Sure, you can move to one of the states that tax SS and pensions.😅

[@RobertaOrchid1]

Several of these items are not a budget item, but an expense associated with travel. Others I gave up a long time ago already, and some I never did in the first place. So I guess I’m already frugal with my expenses 😀

[@leonieharry2941]

The thing is that gym-memberships are often not used and in this case it is very rational to terminate the contract.

[@tommyrq180]

This is a decent expense checklist for retired people to work through. Some are patently ridiculous such as paper towels… However, these particular judgments are by Azul, for Azul. Your mileage may vary, as they say. “It depends on you,” he said at one point. Well, yes. Free country. When you retire, if you’ve been prudent in saving for retirement, you can afford certain things you could not before. Many retirees who were always frugal simply can’t get out of that ingrained habit and needlessly limit themselves. In my view, the most important thing for retirees to watch carefully are automatic charges (e.g., electronic subscriptions), things on Apple (very easy to hide) or a plethora of other services that are automatically renewed and can just run in the background whether you use them or not. These “money viper” items can be silently debiting your accounts without producing value. Bank accounts can do this (if you don’t check carefully every month), streaming services you canceled but magically renew (ask me how I know!) and others. Just my two cents! 🇺🇸

[@Kin-28-8]

People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.

[@berniceburgos-]

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

[@BridgetMiller-]

It's recommended to save at least 20% of your income in a 401k. Stacy Lynn Staples taught me to estimate how much you should save based on your age and income. I've been with her for years now and her decades of experience in the markets translate to chunks of value in so many ways! She has upscaled my portfolio and even got me reading self help books haha

[@Lewistonwilliams-f5i]

That's an intriguing outcome. How can I contact your Asset manager?

[@BridgetMiller-]

I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@DhanaPayar]

I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Stacy up and send her a message. You've truly motivated me. God's blessings on you.

[@curtisrandolph1887]

High compression engines require premium fuel. Regular fuel in a high compression engine will ignite on the compression stroke due to pressure before the spark ignites the mixture. The piston is still on the upstroke and the mixture ignites pushing down and you get a sledge hammer effect because the crankshaft is still pushing up. In an emergency regular fuel can be used if you retard the timing. How’s that for a simple explanation?

[@MidlifeCrisisManagement]

good call passing on checked bags, Azul. too easy to get stolen from baggage claim.

[@theresehuth9032]

I can totally be a minimalist. My spouse has more "stuff" than he could ever use. It's an issue. Any suggestions?

[@LindaSevers]

Buying books online used is a huge saving as well. I love Abebooks.

[@Nicole-zv7ee]

Books and audiobooks are free, at the library.

[@LindaSevers]

@Nicole-zv7ee, yes, but not usually the books I want. I am very niched in my interests. :)

[@Nicole-zv7ee]

@@LindaSevers Libraries accept requests. My library accepts up to 10 requests per month, per library card holder. If you have a library card, there will a tab on the library website, where you can place requests for an item to be bought. It can be anything, book, audiobook, cookbook, music cd, movie, etc.

[@Judy-c3d]

I go to the library for books,magazines and movies.

[@LindaSevers]

Thanks! I had good success with that a few years ago. Don't think they will want me keeping their books though. :)

[@eugenekuacheemeng]

"Stuff"! totally agreed

[@davidpfeiffer12]

You talked about canceling gym memberships with my Medicare supplement it includes free memberships to gyms called silver Sneakers I have actually signed up at a couple different gyms in different towns for convenience and they include the big chains like 24 hour fitness and planet fitness. It may not cover some of the smaller high-end boutique type gyms. Thanks for your videos. Great information..

[@amrice62]

I have to wonder though, the tax bill there is such a hit. I was paying 10k thru 2021. I downsized and left. The property taxes were a big factor in my decision to move. Knowing retirement coming, it seems a waste.

[@ronbianco5919]

Hah, right out of the gate the very first expense we have budgeted for is a gym membership. The one near us is like a spa and we never have time to go to make it worth the expense. We look toward to spending countless hours in the pool, sauna, steam room, whirlpool, and Pickle courts!

[@Peopleareusuallygood]

My dad😊 This house is full of crap! I agree. Stop consuming even before retirement.

[@Eric12358]

Bottled water has lots of micro plastics in it.

[@canny8228]

I think I would much rather work hard, save and invest well so that when I retire I can buy paper towels and books and not worry about it.

[@dolfinwriter5389]

For AAA membership, if you have family who are available who can come give you a jumpstart or take you somewhere you need to get, I would say get rid of it. But if you don't have that kind of assistance available, having AAA just might save your life one day if you're stuck on the side of the road somewhere with a flat tire or a dead battery or out of gas...

[@kathleenwheeler6346]

Adult children don’t want to get off work to come help mom when her old car is broken down in the Walmart parking lot. That’s why, even if we have a good family or friends, we need AAA.

[@SamKnutson]

I have AAA+ for both my wife and I and it gives me peace of mind that we can get assistance and towing and importantly if she is by herself someone will come and assist anywhere in the country. Most of the cuts they mentioned I also tend to side with you on.

[@Brutushungwell]

I travel a lot so I get my water in the airport. Most have drinking fountains and when I was in Guam the airport had an actual filtered water station to fill your water bottle. Buying bottled water is wasteful

[@takeitasacompliment.]

I live in a 55 and older community in Florida. And we pay Comcast about $65,000 a year for our Cable TV" included". That's equal to about $70 a month of my HOA. I've proposed getting rid of cable and it was like all hell broke. Loose. Old people do not understand streaming TV. Plus about only 30% of the residents live there year round. So the part-timers pay $800 a year for cable and they may be only there 3 months. The part-timers are totally subsidizing the permanent residents.

[@EvaPerson-m5t]

The only item on the list that I pay for is cleaning products. I'm out of the house a lot so streaming services would not get used much. I live in a walkable town. I buy some stuff, but only if it has a specific purpose. I agree that experiences are where it's worth spending money.

[@RobertL-ct9np]

I'm 77 years old and living on Social Security in northern Minnesota. I heat with a wood stove and save money by rarely leaving home except for groceries.

[@carolinebracy9637]

Well, most of these can pertain to all of us, not just retired people.

[@craiglibby1224]

10:08 One thing not to buy = Stuff

[@peterb6282]

Premium is probably the most misunderstood grade of gas. If your car calls for Premium it's because it has a high compression engine. Yes you could go with regular given that todays engine technology will detect knocking and compensate for it..okay in a pinch, .but you'll probably feel the loss in power, and it's not really good for the engine.

[@msmiller57]

You're number one is a must to me. Great video.

[@davidlawson4281]

Bottled water>plastic in oceans. Warehouse purchases> we buy in bulk and separate, freeze with cling wrap and freezer bags. Auto club insurance>No, I have the money to self insure, as I planned ahead. No late fees> we balance check acct at end of month, pay all CC bill. Streaming> only have one, TUBI is free, Amazon prime include, You Tube, free. Premium gas> I have a Sam’s near me, and premium is 20 cents cheaper for mid grade fuel.

[@davidlawson4281]

Guess what, you can save and invest, using a smart, honest investment company and not have to cut back in retirement. Our daughters are doing well, so the 4 grands are (hopefully) going to be the beneficiaries of our hard work. Unfortunately, most quality investment managers require a minimum amount of portfolio. In a way, it is a bit arrogant and elitist.

[@chuck_in_socal]

I gave up $6 coffees, but you'll have to take my gym membership from my cold dead hands!

[@AzulWells]

I like you already Chuck! 😎 Azul

[@debbiebolek2117]

Totally 😊

[@bosoxer4eva]

I'm paying for KZbin Premium so I can watch AZUL commercial free!!! Been a follower since the early days. Keep up the good work and Merry Christmas!

[@Kimberly-yx3gn]

AAA is also helpful for the DMV services.

[@AzulWells]

Good point. I’m very been a “member” since I was 21. 🚗 Azul

[@FLOWERSANDSUNSHINE22]

I totally agree with "stuff". How much "stuff" do you need? The reality is you only want to "de-clutter" as you get older. With regards to getting rental insurance in Boston....yep! I live 30 miles north of Boston and even I hate to drive into the City. It's a free-for-all. Drivers that know where they are going have NO patience for the drivers that are not familiar with the roads and traffic patterns. Great advice, as usual. 👍

[@davidbruce7806]

For me and I’m not even retired yet is I got rid of my expensive cell phone prescription. I got a track phone and love it and no monthly bill.

[@Nemo-yn1sp]

Medicare may cover a gym membership, but the choices are limited. The one in my area is also mobbed by college students. I can skip that.

[@heidikamrath1951]

I’ve seen “Silver Sneakers” rates promoted for seniors. Is this what you are talking about or is this something different?

[@Nemo-yn1sp]

@@heidikamrath1951 No, with my Medicare Supplement, I have access to a gym membership. Silver Sneakers does free YT videos and I think some advantage plans offer it. Not well versed in it. I don't have an Advantage plan. Learned within two months what a scam it is and went to a national broker for advice instead of someone local with an agenda.

[@jjjackson5183]

Municipalities could just make the primary residences property taxes subject to depreciation. If a house, new, would have a value of $250k, and its expected lifespan would be 100 years (brick), at 50 years, the value should be $125k and at 75 years should be $62k. People who do a major renovation should be able to deduct the cost from the value over 10 years, just like in capital gains. This would encourage people to keep up their homes over time and help older folks who stay in their homes.

[@Gigi30107]

Two major surgeries and a year + recovery coming. I just got Netflix and cable tv. Once I'm healthy and active again I'll cancel.

[@a.e.7988]

Food delivery is a necessity in 120 degree temps.😮

[@LLK33823]

Right! Some good tips, but I’m not giving up my ymca gym membership. 💪🏼👟

[@susanthoresen4141]

These items are low hanging fruit. The list is generally ridiculous. Of course some make 100% sense but overall cutting them shouldn't be the difference between solvency or insolvency.

[@notbuddha3982]

I recently retired owning my own house, one investment property and $1.5 M in superannuation - it’s still a struggle but it’s ok. I don’t fly first class any more

[@G-L-O-R-I-A]

Wow. Uncanny how I agree with every point. Except I have an opinion on manicures: nope for me bc I play guitar, but if they bring you joy, sure. Some of these things one can just cut way back on.

[@maxflight777]

Love Costco !! Superb