The Six SECRETS to Living Well in Retirement

This video discusses six areas to master to live well in retirement.
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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.

[@Erikkurilla01]

Thank you. Just what I needed to watch. My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.

[@Lemariecooper]

you should consider financial planning.

[@jessicasquire]

It isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing.

[@patrickbrussels4454]

@@jessicasquire I totally agree, I'm 60 and newly retired with about 1.2 million outside retirement funds, no debt, and very small dollars in retirement funds compared to my portfolio balance over the past 3 years till date. tbh, the role of the investment advisor can only be overlooked, not denied. just have to do your research in finding a reputable one.

[@Erikkurilla01]

@@patrickbrussels4454 that's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well.

[@patrickbrussels4454]

@@Erikkurilla01 My specialist is *STEPHANIE KOPP MEEKS* I found her on a CNBC interview where she was highlighted and contacted her a while later. She has since give passage and leave focuses on the protections I center around. You can turn her upward on the web assuming you care oversight. I fundamentally follow her exchange design and haven't lamented doing as such.

[@hofproducer]

I just turned 64 and I am basically retired. I have been involved in bicycling most of my life. So, my main One thing is owning a bicycle shop. I own the building (paid off). My hours at the shop is only 28 hours per week. It helps me to stay engaged with people…. But not too much. I am also learning to play the guitar. What a great activity. Cheers!

[@firehorsewoman414]

Living your best life. Cycle on!

[@deandaniel4911]

I live a life of cycling and music, mostly guitars, myself...🍻

[@EddyMetal60]

Health is the most important factor. Ask any senior.

[@henryclinton9317]

Retirement is wonderful if you have two essentials - much to live on and much to live for. Invest wisely and get good returns.

[@wilsonjudson1650]

thank you, can you give a pointer the best investment now ? i am thinking of getting stocks or cryto

[@henryclinton9317]

The key to making money in stocks is not to get scared out of them. An important key to investing is to remember that stocks are not lottery tickets. get a financial assistant

[@henryclinton9317]

I currently work with TERESA JENSEN WHITE a financial expert i met in a seminar

[@dorissteve912]

I recently watched TERESA JENSEN WHITE on TV , such a great speaker . but have you made any profit whatsoever working with her ?

[@henryclinton9317]

I have been able to make maximum profits off my trade with $40,000 and I have amassed about $190,000 in net profit In 4 weeks

[@marthaC495]

I just want to mention one major reason that I don't want to rent is having an HOA (homeowner association). For that matter I'd never live in a community that has an HOA. My husband and I used to live in a condo managed by an HOA. At first we thought it would be great for someone else to take care of landscaping, fixing something that breaks, etc. But eventually the fees increased to a ridiculously high amount of money. They had the freedom to raise our rates way too high just because they could. We moved into home ownership and paid a lot less each month for maintenance. Thanks for doing these videos!

[@williamsmartinezs4863]

Thank you very much thank you very much for all your information I'm 60 years old and I was a defensive about retiring at 62 but because of all your good information I'm going to retire at 62 because I don't have the fear anymore of the unknown you have removed that by your wonderful information you got me to sit down and crunch my numbers thoroughly for the first time and it has made a huge difference thank you thank you thank you you are hands-down my number one retirement advice Guru

[@maryannbrown9952]

I’m retiring to Delaware because I have family there. Benefit is low property taxes. I moving into a gated community that has a ton of activities, beautiful club house, etc. While it is pricy, my need to engage with others is critical, since I am single and childless. The entire reason for 55 plus communities is to combat isolation in retirement. I’ve lived in one for 18 years and the best thing I ever did. I am looking forward to the move and riding my bike everyday to the bay. Cheers!

[@irishinusa1615]

Wishing you every happiness in your retirement. We have 225 days to go, before we retire 👍😁😁

[@maryannbrown9952]

@@irishinusa1615 you will LOVE it. I’m 21/2 years in and have NEVER looked back!

[@irishinusa1615]

@@maryannbrown9952 A little nervous will all thats going on!! But we are counting the days. Hugs to you 🤗 ❤️

[@richardhughes1101]

Call me♡🤣

[@oldsingingstudentdougbillf1665]

HAH! Hopefully it will work for you. Good luck!

[@lonniemorrison2987]

I got SS at 62. I was still working. I blew right thru it having a little too much fun, I've had to slow my roll and get on a budget now. But the tendancy is to spend 1st couple checks frivolously, like its extra money.

[@agustusmaine6269]

Schmidt's "one thing" for retirement helps take the place of your years of a work environment that absorbed much of your time, body and mind. Many people need to now be their own boss and managers hopefully with both recreational and productive physical and mental absorption payoffs in life.

[@tomandersonjr.7399]

Number 5 really hit home with me. Thanks.

[@maryrobie4752]

Always amazing! Thank you!

[@garrettsnuff]

Excellent presentation, Geoffery. Truer words...

[@susannesin5929]

Thanks for all your wonderful advice!!!

[@dforrest4503]

This is a very clear and well organized video! Thanks.

[@susanb1394]

Your videos are always so helpful. Thank you!!!!

[@danhamilton8931]

Thank you for taking the time and preparing these videos. They are very informative.

[@sneff3407]

Thank You Geoff for all your help. Your vids are very informative and truly helpful keep them coming

[@leovanorden4243]

Geoff, thank you for all the education. The "one" thing is mentioned in the movie City Slickers by Jack Palance playing the cowboy character of Curley. Sage advice for all!

[@whacked00]

Love your videos! Thanks!

[@bonetrene9717]

Thank you Jeff. Great info !

[@torycook1215]

Love 💕 love your channel. You are so on point, spot on, right on. Thank you 🙏, Holy Schmidt! 😊

[@terryB4713]

Totally agreed time to organize!

[@AhJodie]

OMG this is so great! I just retired a few weeks ago, and this is not only funny in some places because it fits me so well, but it is a great way for me to get much wiser. I appreciate it so much.

[@larryhawes8295]

I find your videos to be some of the best on KZbin. I get so tired of people yelling at me to buy 'merch' or thinking the louder they speak the more important their video. You tend to simply present information and I am very grateful for that. I do have a topic that I wonder if you might cover in depth - reverse mortgages. I've only read and seen all the reasons not to use one but there must be some scenarios where they make sense for some retirees. I have an 87 year young woman friend who is about close on a reverse mortgage and after a LOT of thought she is thrilled about her future again. Again curious about an in depth analysis without the obligatory negative take on RM's. Again thank you for the great content.

[@howardhudson11]

My one thing is the cruising lifestyle. Can't wait to get back to my sailboat. There is nothing like travelling with all the comforts of home right there with you.

[@HolySchmidt]

Nice. Enjoy Howard!

[@thomasbelesimo30]

As I was getting ready to retire I asked my cousin who had retired a year earlier for his advice. His advice was "MAKE SURE YOUR OUTPUT DOES NOT EXCEED YOUR INPUT". It has stood my wife and I well for the last 26 years.

[@HolySchmidt]

So true!

[@365vacay]

Wow! I wasn't expecting to find this here. Thanks!

[@HolySchmidt]

You are welcome 365

[@Jessrobbie]

1. Game 2. Don't be a hater of money 3. It's a doubles game 4. Seduction- money likes to be seduced 5. Timing 6. Boredom -money needs to be moved 7. Secret account 8. Don't fly first class 9. Comp plan 10. End of the world mentality 11. Study your politicians 12. Study smart investors , but don't be too religious about them 13. Play your game ,don't compare 14. Index 15. Befriend money makers 16. Diversification is for sissies 17.Leverage 18.Positioning 19.Strategic partnerships 20 .Big check syndrome

[@elizabeth5623]

I've always wanted to invest in stocks but was always discouraged. I wanna start now

[@anna_kendrick]

If you've not worked with Galia Benartzi? Try now⬇️

[@sofiafischer0]

@@anna_kendrick I just copied the contact. Thanks

[@DoctorSmartyPants]

Really liked this video! I kept looking for #6 and it wasnt until you got to that step I realized you had written two #5's. Lol. Anyway, am 3 1/2 years from retirement and these are really important topics. Thank you!

[@thomas50208]

3 years ago when I turned 59, I started to look at retirement and honestly I was scared as crap. I didn’t know how to begin, I didn’t think I would ever be able to do it, I felt like I was resigned to having to work until I was 90. I started to search KZbin for ideas on how to retire. That’s when I came across your channel, and I’ve been following you for a couple years now and have to say you are definitely helping my confidence grow. I turn 63 this year and after watching your videos, I am starting to believe that I will be able to retire at 66 1/2. Because of your guidance I have been able to increase my 401K savings as well as prioritizing a decrease in my spending. I am definitely going to download your retirement checklist for more reference. I just wanted to use this opportunity to reach out to you and say thanks for your informational videos. I think they are the best videos out there for someone who, like me, is afraid or even just unaware of whether they can retire or even how to retire.

[@michaelradford4001]

I’ve been binge watching you for the past few weeks. I would like to see something about how to find someone like you from whom one could seek personalized advice on the various topics you discuss.

[@kevin7151]

Geoff, excellent video as always. In retirement, your expenses actually stabilize, and you can plan better for the future and (if you are in a position to) leave a legacy. What often happens is that people have more time than money and are constrained to their immediate surroundings and family/friends. As you point out, that is why you want to build good relationships, as these are the people you will mostly interact with. I retired at 57 (now 4+ years) and interact with far more people in retirement than when I worked. I also have time to help family and friends. It has been a refreshing and rewarding experience for me to date. I tell people that when you are on your deathbed, you won't regret working overtime!

[@floraandfaunab8855]

So excited as I am planning to retire in two years, less ss# but will be able to enjoy life while healthy

[@richardc488]

Thanks Schmidt, after 5-years retired got called back to work (from home) I am actually happy to interact in my technical field again! But we are going to do a lot of travel, (egypt and Italy).

[@carolb6581]

🌟💫👏👏👏💫🌟 My utmost, ongoing gratitude for you, Geoff! You have saved my future! ☺️

[@anthonybutler3157]

Thanks for this. Even though we are four years into retirement I find these very helpful to keep me on point. Might be useful, if you haven't already, to mention the importance of tracking all expenses. I have found it so helpful to keep us from drifting financially, particularly in these inflationary times. Keep making the great videos

[@Kralphrn]

Thx so much for these videos

[@tommwarneke396]

Looking forward to time to help with clarity! Empty net in six months. Started now to purge clutter so when my house is my house, it will be organized. Thanks

[@will-smith-nh]

Thank you. Great content.

[@jamesnicholas1258]

Sir that is a excellent video. I totally agree with your point of view. Living in fl. In a retirement area i see so much of what you point out. And are these people happier? For the most part they are not they are to concerned with the super fiscal display which is a hollow empty existence. So less is more . Then we're free to stop and smell the roses

[@rsg6207]

Everything you say here makes perfect sense to me. Your graph curve is a great visual. Thank you.

[@RetiredSignDude]

I thought the "organization" segment particularly useful. And often overlooked. One thing I would add: a section on BEING heallthy (not just budgeting for health care)- ie.g., taking time to walk (by plan, not unscheduled) or joing (and USING) a gym regularly.

[@rcDoom]

You know what this advice will greatly benefit you even if your 5 or 10 or 20 years away from retirement

[@sandyseibelhager7131]

I would love to see a video on how to prioritize the order that we should take money out of different areas when we retire. We have a traditional 401K through my husband's employer. Through my employer, I have a pension, an HSA and a 457B. I believe they each have different tax benefits and different RMDs. We are planning on retiring at 62 him in 2033 and me in 2036.

[@gregtheisen-guitaristsongw542]

Thanks Sandy. I lost 2 pensions to forced cash buyouts. It is such a shame that companies can be allowed to take away pensions after 10 years of service. Your comment on prioritizing withdrawals would be helpful. I think people needs this information too.

[@davidknoke692]

I like his real world wisdom.

[@lisam668]

Can you do a video on what are essential papers to always keep and how to properly save or store them? I'm trying to organize, but I'm sure I'm keeping too much! Thank you.

[@deidrapowell8762]

Recently found you. So happy. I had to retire year I turned 55. 3!years ago. As for finding a hobby I would say try a few different things until you find what you love. I discovered sewing and embroidery after trying pottery and a few other things. I inherited my moms stash and that got me started. I need tips on spending less. I think I am an emotional spender and I need to curb it. Started asking myself is this more important than your best egg. Are you willing to take money out for this. I also think I suffer from scarcity. Scared of running out of money I am on disability so I do have that as well. The tax thing but me but I am square on it now. Appreciate your advice. I already was doing a lot of it thankfully

[@richdouglas2311]

This tracks Maslow pretty well.

[@mares3841]

Thank you

[@chrismayer7762]

One think for me ended up being "wild lands firefighting" , amateur radio license and bow hunting.... and chickens

[@gregj2647]

Great video with lots of excellent points organization is so important. If you know what you’ve got and discard what you don’t need, you’ll save money in the long run. Do you ever do videos on Medicare? I’m turning 65 later this year and have started investigating the supplement plans.

[@barbaraguy3491]

I've found this KZbinr to be the best information source on Medicare, and, he serves the whole U.S.A. Cheers! (Search KZbin for 'Medicare on Video' with Mr. Keith Armbrecht.

[@stephendibari5010]

Excellent video. I’m at least 5 years away from retirement, organization is so important and planning ahead especially like you mentioned regarding booking a vacation/car rental.

[@robertcalamusso4218]

Thx Great 🇺🇸☮️💵

[@wheatwear]

Nice video. I'm thinking of doing a reverse mortgage to turn part of my house into a one-bedroom apartment can you do a video on reverse mortgage? If you already have please put a link. Cheers from the Finger Lakes!

[@escapeartist8581]

Great video as I am getting closer to retirement. I know my one thing, and will balance that with family and volunteer when I get bored. Thanks again for a really great video.

[@lindamorrison1505]

Love your videos and I've learned a lot. I've got a question: do you think there is a difference in how men and women should plan for retirement considering that women tend to earn less, retire earlier, and live longer? My mother is near 80 and doing fine, but she's watching many of her widowed friends struggle financially. If women plan based on averages, then aren't we under-planning for our life spans?

[@cindimeyers8074]

I'd love to hear your advice on when to start collecting Social Security when the husband is 8 years younger than his wife and also the main breadwinner. Should we pull from our savings first and then start collecting social security at a later age...or start collecting social security at 62 and use savings to supplement. Our consideration is the wife will be receiving half of the husbands social security, so it's two people to consider. Our initial plan seems to be use savings until it's gone and delay collecting social security until age 70 for hubby. (Wife will be 78) if possible. Our situation is unique because of our age difference and main earner is younger.

[@cindyvitale9515]

This is such useful advice. With different insurance plans, doctors (even the dog has her own insurance), and the many bills and accounts that have to be managed, organization is key. I thrive in organization, but flounder in chaos.

[@gregtheisen-guitaristsongw542]

Thanks for your great retirement videos! I suspect many viewers only have IRAs and/or 401Ks to supplement retirement. Could you make a video on the best ways to plan monitizing IRAs and 401Ks in retirement please. I'm in various stock and bond funds and a 2025 mixed fund. My plans don't seem to have post retirement funds. Any help would be greatly appreciated :) Thank you.

[@carltonhill663]

Most began RMD. Which would you recommend- monthly, quarterly, semi-annual or yearly distributions?

[@lkjacob1]

Ruthlessly organized is my mantra. I research any purchase over $100.00. My friend gives me a hard time but I've seen way too many times her jumping over quarters to save pennies. Anyway, that's what I call it.

[@HolySchmidt]

I love that saying!

[@djw8888]

Between #2 and #3: Build good habits. Note: Not only for retirement! Take excellent care of yourself so that you can enjoy your retirement for many years. They don't have to be big habits. Karma is the result of thousands of small actions that you've taken. Some habits. Take the time to take three small breaths. Meditate for five minutes. Go for a walk after in your neighborhood after dinner.

[@butopiatoo]

This is actually one of Jeff's better videos. At least for me. Knowing what you VALUE is important. He addresses that with the rank ordering in step one. Relationships. spot on. Engaged. spot on. The ONE, spot on. Good job Jeff. I'll keep listening.

[@cathyP1961]

I retired in January and tomorrow is my husband’s last day . We sold our biz we’d had for almost 35 years . I worry about him he has no hobbies after working 6 days week for all those years . Thank you

[@landeeld9596]

We sold our business last May, retired and moved from California to Arizona (and split our time between AZ and FL). Life is divine!!!

[@BP-1988]

I retired 12 years ago at the age of 58 and live very well. There is only one secret to living well in retirement - during your working years, spend less than you make and invest the difference carefully.

[@patton9696]

Wife and I are buying rent houses with additional money. I’m planning on retiring at 55

[@deanmay338]

OMG, damn good video! Love the common sense simplicity. I got lucky and was able to retire early from higher education on June 30, 2021. So, I am still transitioning. I am 59 and plan to take early social security. My pension covers everything and we will not need to touch my supplemental investments. Therefore, we want the early social security (less money, but we want it while we are younger and more active). I have watched dozens of your videos. I have shared them with my younger brother who hopes to retire in 6 or 7 years. Appreciate your expertise and wisdom!

[@user-ng8eo7px8o]

Thanks for your feedback, for more guidance to generate maximum profits on your portfolio WA our office

[@user-ng8eo7px8o]

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[@kathrynlucas3295]

You said throwing away what you don't need was a good way to get organized for retirement. It's better to sell and donate. There are so many online buyers for books, CDs, etc. You can fill a box, print a label and get tax free income from the process of decluttering. And, with all the ways to sell online, you can create a stream of income from the process for an extended period.

[@HolySchmidt]

The biggest challenge is that many people have good intentions around this but never actually do it. Which puts them in a perma-hold on getting organized

[@timpitcher288]

@@HolySchmidt Hi! My GF just went from a de-cluttering webinar and followed through throughout her house and into the garage resulting in a large garage/yard sale and charitable donations to Purple Heart. I forwarded this video this AM saying she might really like point 6 ...Her reply: "That's Me!!" ps: all the cabinets, under sinks and closets got the same makeover. Cheers!

[@plainegrace5712]

Eep! Thank you!

[@davidknoke692]

I would add into your equation “balance”. Some people overspend some underspend. (And of course all in between). Some can’t part with corpus, some have no problem running up credit cards. You need balance in your planning. I retired two years ago-am in good shape. I most likely over plan, but I have a budget and generally stick to it. And that budget is flexible and variable. Enjoy life and most important love.

[@davidknoke692]

@Pinnedby Holy Schmidt!.. Good morning. Have a great day. I enjoy your postings very much. I was in practice for 45 years in a small firm2.5m. Had everything from mom and pop to 100’s of millions. Really enjoyed working with entrepreneurs navigating buying and selling their life’s work. Have a son who practices in Milwaukee area. Like discussing concepts with him. Contact me anytime.

[@jameswitte5676]

3:43: Is that Mrs. Schmidt?

[@davidfolts5893]

Thanks for the great video; I am having trouble purchasing your book, Mr. Schmidt; any suggestions?

[@user-ng8eo7px8o]

Thanks for your feedback, for more guidance to generate maximum profits on your portfolio WA our office

[@user-ng8eo7px8o]

十𝟏𝟕𝟒𝟎𝟗𝟕𝟑𝟐𝟔𝟕𝟕埋面埋

[@davidfunvideos]

@Holy Schmidt! How does ; your book club work I signed up on your website but have not seen any email etc about it. Are you sending out book recommendations yet?

[@davidfunvideos]

@Pinnedby Holy Schmidt!.. A scammer clone account

[@targadave]

Always a great thought provoking analysis! The ONE thing for me is a no brainer; see my avatar

[@richdouglas2311]

I spent the final two years of my organizational-based career designing and starting my private practice. It is the thing that is driving me through my "third act." (My working retirement.)

[@colleenhammer2651]

Should we buy a second home as an investment? Our daughter is in college and would live there for 5 years and rent out the other 2 bedrooms. We live several states away so that is one issue. She is comfortable being in charge if issues come up. We could use all of our cash to buy it for $230,000, or we could use some of our cash and a mortgage to have more liquidity. We have a total of $600,000 of savings. Less than half is in stocks, so so want to convert our cash, gold and silver to RE. We have no debts. My background is finance and real estate and my husband worked as a home inspector at one time. I’m still working and my husband retired last week. We have 2 small pensions and are fine as far as far as cash flowing. The investment is mostly to not have our money not sitting as cash but put it into something a little more safe.

[@yonemitsu1]

Can you speak on the bill be passed to not tax social security

[@irishinusa1615]

Thank you!! We are close to retirement and I would like to see information/guidelines on what to expect for taxes etc. Social security, 401K etc. Florida with no income tax etc Great vlog!! We appreciate you 👍🥰

[@dig494]

Yep. I retired last year with about 750k at 58. No pension but hopefully SSI. I live a full life, I am on VA medical so as Schmidt says YMMV. It just all depends on what you need/want money-wise out of things. I live in Alaska and enjoy each and every day. Medical will be most folks down fall in the USA.

[@MSC-101]

Informative video to organize needs and wants throughout life, especially as I peer down my own runway. The happiest people I know are those who know themselves and are content. Some of them have a lot more than others. Gardening or camping (to pick two common activities) probably don't qualify as adventure or rock&rolla but I did not delve into the latter much before so I will probably be quite content with hiking (or simply being with my dog) in nearby woods while I dream about some faraway adventure. Being outside as much as possible however seems to be a common thread for me through all of these categories.

[@andrewhorowitz4448]

Thanks for the video. I wish you would dive into the health and safety items. One of my most expensive insurance expenses seems to be my long term care insurance. This item premiums have sky rocketed reecently and insurance companies have bet wrong on the policies and now are in a predatory state hoping to get policy holders off the plans. Good policies will run thousands of dollars a year for retirees. How do you figure this into you first item.

[@user-ng8eo7px8o]

Thanks for your feedback, for more guidance to generate maximum profits on your portfolio WA our office

[@user-ng8eo7px8o]

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[@jdviator]

Geoff, this might be out in left field question. But I didn't know where else to ask! Is AARP a good company to join and could I potentially benefit from their services. Thanks love your videos. Keep up great work!

[@elyplmber]

Good question, it will be interesting to hear what he has to say.

[@sharonlugone5955]

Love your video, but here's what I really want to know. Do you have a full suit on, or just some jeans or shorts? Or boxers?☺️

[@kevinfestner6126]

Lot's to digest because I want to early retire with a seasonal tax/accounting job. I need to flip the script. Start with clarity, health and purpose. Choose to be happy, now. There's nothing wrong with living frugally by not wasting money on things you don't need, yes marginal utility. I would add and end with: live the life you never need to retire from. This is what I have culled, as well, from your videos and redigested. Thank you, Geoff, once again. Just by typing this response. I know what my next planning steps are to be.

[@williamsmartinezs4863]

Half my family members told me to sell my house on several occasions glad I never listened to them my home has been a huge financial blessing because I did not listen to those who gave me poor financial advice.... my credit score on a regular basis is over 800.... financially I'm doing fantastic and it has to do with seeking advice from great sources and being disciplined ....Frugal not cheap but Frugal and being patient with yourself. ( buy what you need keep wants to a minimum)....taking care of what you have ......work. Smarthard don't be wasteful ....being kind and generous to people that are truly in need.... and everything falls right into its place. God blesses 🙌 hands that are industrial in my life I helped a lot of people get on their feet and God has blessed my home due to kindness and BALANCED generosity!!!!!

[@audiophileman7047]

Did you notice that your white board had two 5's listed? For me, there cannot be "One" thing to do. The only "One" thing I plan to have in retirement is doing whatever I want to do. It will most likely be a combination of things at different times and some at the same time.

[@jasonbroom7147]

Didn't hear the word "budget" in there, anywhere. In fact, you never seem to mention it in any of your videos and a budget is, 100%, without a doubt, THE most important thing in any kind of financial planning, retirement or otherwise. I will also mention that your presentations seem to be targeted at a certain demographic; those with an excess of means. At first I was very interested in this video, because you underlined living "Well" in retirement. Living well, but still living below your means, is one of the main keys to a secure and sustainable retirement. While not very sexy, it's what should be emphasized before any of the other useful information you provided.

[@hellongoodbye]

❤️ n organize

[@Paul-K-68]

One area that I am struggling to find information about is the potential differences between getting a mortgage for my retirement home while still working, or waiting until after I stop. Do mortgage lenders provide favorable rates to borrowers with solid work income that are not available to folks who have already retired? We have liquid assets that far exceed the value of our planned retirement home, but the math indicates that we should still finance the new place while we sell the old one, and then delay paying off the entire loan until we reach full retirement age. So, we have our current home with a mortgage, plan to get a mortgage on the new home, sell the current home and roll the equity into the new loan, and then make payments for several years. The bottom line question is, do we have to find the new place and get it financed BEFORE I retire, or can I resign and then start looking with the knowledge that we have cash in our 401K and other sources that could cover the full cost of the new place and would provide income inline with what I make at work? A video on downsizing or otherwise changing homes at retirement, with all of the financing implications, would be very welcome.

[@DoctorSmartyPants]

I would totally reach out to a mortgage broker to ask this question. It's a good one. Am considering same.

[@PK-zb6wh]

A lender looks at your income and assets and your debt. It doesn’t matter where your income is from. can be SS, pension, 401k, etc. My dad is 82 and has bought 2 homes since retiring. In fact, just closed on their old house yesterday. One house he bought with a mortgage at 70 yrs old, then sold it at 76 yrs old, then this house was bought and paid off, then they bought this new house and paid for it outright, and now sold the other house. In your scenario, they will look at if you can cover both mortgages with your income/assets.

[@Paul-K-68]

@@Phila80 Well, there's a lot to unpack there, but I'm not interested in any of it. None of what you say has anything to do with my question, and I have no idea why you picked my post to troll. People have been spouting this kind of stuff since I was a kid, and here we are - not perfect or 100% certain of anything, but basically fine if we work and plan. I guess my biggest area of confusion is that if you really believe all this economic collapse stuff, why are you following a channel about retirement planning?

[@DoctorSmartyPants]

@@Paul-K-68 I really like your response to Eagle. Very eloquent. I might just borrow that language for myself in the future.

[@Paul-K-68]

@@DoctorSmartyPants I am certainly planning to ask a mortgage lender as you suggest, and will share the answer. That said, I have already discussed it with a few real estate agents that I know and they have provided conflicting information. I guess I should have started with the folks who actually write the loans 🙂

[@morningglory7118]

I don't have enough money to have health insurance and have a truck that stays parked cause I don't have the money to have it registered 😖 and I do pay $40 a month for truck ins 😏 I believe I definitely need help cause I know I am miserable 😖 I bought a$20. purse from Walmart 10yrs ago and still use it 😂 By the way... I am very organized through out my belongings 😁 I appreciate your videos cause I am trying to find a way to live easier to be happy before it's over... Thank you 💞

[@user-ng8eo7px8o]

十𝟏𝟕𝟒𝟎𝟗𝟕𝟑𝟐𝟔𝟕𝟕埋面埋

[@BrianW211]

Seems like being organized would help ALL 5 other secrets.

[@birdvalystuff]

Number 2 You may not understand this. But Jeff Bill Musky all fit this problem not mentioned. Jeff likely will repeat this about time of his maximum retirement age if he keeps doing who he is doing. So where is a budget I can print out that you like. My budget and it always works. Make $3 spend $2. Know need to balance a checkbook and I never do. Only check balance and see about buying some stock or bond something like that. I got Quicken it would make a good budget, maybe. That's if a can think to add all those expenses and add it to list that I just pay. I put in few numbers so program would leave me alone years ago. And I just looked at it Quicken not really looking forward to adding lines to budget. There seems be know fix for half of number 2 sadly enough!

[@user-ng8eo7px8o]

十𝟏𝟕𝟒𝟎𝟗𝟕𝟑𝟐𝟔𝟕𝟕埋面埋

[@osvaldoperalta6767]

The key to happy retirement is organization to better anticipate. My life style is different than perhaps the majority of your viewers so my priorities differ. I retired at 59 with only a small pension to lean on and one rental property. Needles to say if I didn't own my home I'd been hard up. The difference with Me is that I saw the investment community that held on to my funds ( I had a very conservative portfolio with bond and tbills- you get the picture. Scared to lose a dime) as using my money as lenders or investors as the interest on my money stagnated or went down. My philosophy from then on was to give each year a value, the older i got the more money I was entitled to spend with out going to far below a set amount in my retirement funds. I borrowed against my retirement at a modest interest, 3 % , used the money to purchase a retirement condo in another country with a lower cost of living. I e paid myself back tax free ( for the most part, I went over a few years in earnings but not enough to make my SS taxable. Then I made other purchases using low interest loans ( no lower than 1.95 and no higher than 3. 95% all fixed .) This was necessary for items that though I had in my homestead were necessary for the condo. A car was also a needed for touring the beaches. In all I feel like I loaded everything upfront while I am healthy enough to enjoy them and in just an other 4 years they are all paid for and my liquidty is intact for the rest of my life. I hope this makes sense.

[@user-ng8eo7px8o]

Thanks for your feedback, for more guidance to generate maximum profits on your portfolio WA our office

[@user-ng8eo7px8o]

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[@phmiii]

What do I do with my wife who fights with me on all points?

[@markkeller9378]

I have too many “one “ things!

[@msmiller57]

"Piles of mail in your kitchen" Geoff is REALLY speaking truth on this video.

[@davidrule1335]

Easy, Just move to Ecuador. Just one guy not married worked my whole life, can't be done in America, gotta move abroad.

[@beachbum6351]

Rule #1 should be have lots of money!

[@jameshardin4895]

yeah, in Colorado, property taxes are doubling, County raise the value of my house $175,000, i fought back, they wanted to raise it $250,000... and the State of Colorado Congress, run by Lawyers, wants County's to raise property taxes, are County by 49% next year, are insurance $2,220 more a year, last month, with the Lawyers and Roofers doing this rip off now, that's why Insurance Company's are leaving some States... talked to one guy about it, while trimming my tree, his In-laws are selling there house for those reason, and of course, those things rising, lower the value of house... wanted to sell, when prices were ridiculous the year before, but the wife didn't want to, she is still working, and she wished she would have retried before, now, when we could have gotten a lot more for the house... so i figured we lost about a $100,000 or more, when we sell in a year or so, and not what the County said it's worth either... and less money, when we move next to the kids... Timing!!! The way things look, because of Inflation, the wife might have to work another 3 years... part of that reason, is the Lawyers and the Roofers, wanting $43,000, for a $18,000 job... the insurance company is threating to Deny are Claim... Use the Insurance Company's list of roofers... or tell the Roofer, before you signing anything, give me an Estimate, and give it to the Insurance company first... never had this problem before, with 2 roofs... that Lawyers for you, when they stick their hands in it... it started in Florida... $50,000 roofing jobs... and they won't change the State Laws, because Lawyers are the ones in the State Congress's... Careful !!!!

[@yonemitsu1]

I teach Zumba. Trying to limit paper and do electronically.

[@bryceharper446]

I don’t have kids- never wanted. I am not married anymore- so what about that situation? I have good relationships- friends and cousins. No siblings.

[@HolySchmidt]

Friends are so important. In fact you will be spending more time with them that you would children in most cases.