Two BIG retirement mistakes (Do this instead...)

[@jimmyhvy2277]

My Nephew couldn't understand why i saved my money ! I Retired at 49 and 8 weeks old .

[@denise-stevens]

Great content Neil & Sarah. I’d be retired by now had I invested more while younger. Like your last video talked about making memories (another excellent video), I have many memories to enjoy while rounding the bend with retirement now in sight. I front-loaded my travel dreams and made it my priority my entire adult life until the pandemic. An unexpected benefit that came from the pandemic is that it helped me to reset my priorities to save, save, save.

[@peterh9238]

This is GOLD 👍 Problem is, when your a teenager, the last person you take advice from is the old 😀 If only this was taught in schools.........

[@sarashann]

Yes please. A video on temporal distance would be lovely.

[@lindadorman2869]

It's not an all or nothing decision. If your income increases, spend half of the increase and save or invest the other half. But if I had not spent any of my increase, maybe I would never have bought a house or traveled the world in my younger days. And other people actually do need every penny to raise a family or pay for necessities.

[@romason6567]

Excellent excellent excellent! This is something I wish I could have all my friends watch who don’t understand the concept of saving for the future! Again, I’m loving this new content!

[@pamsmith6998]

Good video, guys. Thank you. If you get enough votes, I’d watch a video about temporal distance. Thanks for sharing the good, the bad, and the ugly. Wishing you both many happy years and trails. Hubby and I start our journey soon!

[@2GoRoam]

Cool, thanks Pam!

[@K123-yg2sn]

Yes, please! As an ADHDer, the future is almost impossible to think about, so more on this would be helpful in more ways than financial (although that is so important)

[@marie-everacine4552]

Hey Neal & Sarah. thanks for yet another interesting video. You are always providing us with great value. I'd love a video on Temporal Distance. Cheers!

[@chrismd00]

My advisor was taking 1 percent plus had me in mutual funds costing 1-2 percent! Finally dumped him and bought VOO and VGT that’s us well diversified and growing!

[@TrekkingwithMikeandDeb]

The same could be said about taking care of your health and fitness. Good points.

[@Katy-P]

You two are just brilliant. Thank you for all you do. I've learned so much from your videos and feel more confident and ready for early retirement.

[@the_astro_garden]

Temporal distancing is an interesting concept and something our kids need to at least try and understand.

[@Simonpocarroll]

Bank managers are there to lend, not provide life guidance to profligate teens ;-) . However as a parent of 2 twenty something's I gave the same advise and guidance, once is a hard saver one is a get it - spend it nightmare with money - all are individuals.

[@veronicaburgess7250]

I do think life classes shd start in school cooking,ironing,general maintenance & finances relate to all, plus I would be happy with any additional tactics too, that U asked us about to handle the postpone of now & future self finances(nice that Ur back guys) xx vee

[@johncoombes6291]

I have a lot of admiration of your travel ethic,me and my wife have traveled all over the world apart from Australia,we are pensioners have seen it all!!I in the uk don’t even turn the news on its so depressing,but we would certainly miss the uk,we have grandchildren,i would emigrate at a drop of a hat,but we have been married 50 years this year unfortunately that would not materialize.love people like yourselves that travel the world,cannot wait for the final outcome,we’ll done!!

[@keekeefries6298]

Temporal Distance concept video is in order….would like more about that. Thanks. Nice video BTW…

[@debbiekirby468]

Thank you for sharing your viewpoint! My teenage son just started a part time job while in high school and we have helped him set up his Roth IRA here in the US and are teaching him how important it is to start saving part of his income now (10%) so he will have a secure retirement. The power of compound interest should hopefully work in his favor! I’m a gen xer too and lucky to have a pension as they aren’t too common here anymore.

[@Bigwilli123]

I just retired recently and i find this video very creative if i must say, these psychological concepts are useful for individuals attempting to avoid mistakes.

[@flyinghedgehog3833]

UK is finished... Leave if you can!

[@cornishhh]

Your videos always provoke plenty of thoughts. I like to think! Whilst I basically agree with the concept of investing as much as you can as soon as you can, I would also suggest doing some of your travelling when you're young. By that I mean 18 -35 ish. I'm 65. There were things I did and situations I tolerated in by 20's that I very much enjoyed but wouldn't entertain doing at my present age. IMO the most important thing at any stage in your life is to be in control as much as possible. I certainly grew up with the idea that everyone would have a pension sufficient to live on. I suppose everyone still does, because those who don't get top up benefits.

[@BoninBrighton]

We agree 👍 we climbed volcanos around the world for our holidays in our 40s and 50s whilst we were still fit enough. We’re 65 now and retired aged 60, we take 2/3 mth big adventures these days but it’s all pretty comfortable no more sleeping in hammocks swinging from trees!

[@KateS1172]

The 80s were fabulous!!!🎉

[@jimmyhvy2277]

Yes i did have good fun way back than :)

[@mccannger]

Live for today, but plan for tomorrow. If only I could get the second part of this into my past self's head! He just wanted to live for today, but that was years and years ago... It's one of life's key lessons and like so many of them, you can hear the words, but gaining the knowledge, the wisdom behind them, that takes time ... and costs your future self a lot. Enjoy today because we live in the here and now, but a year's time will be the here and now, so will 5 year's time and so on and so on. Create your best tomorrows as well as enjoying your todays. 🍻

[@livingworkingoutsidebox]

3:50 Temporal Distancing sounds very interesting 🤔 would love to have you make some content on it. Especially how it relates to Gen X. With all the short attention spans on social media platforms your channel and a few others are creating the new "schools" of the now/future.😉🧠👍💪📓✏️💡⚡️

[@SteelHorse1015]

Unfortunately the young are not watching these videos just us Gen Xers that are getting close. We can not go back in time but WE can help the 17 years olds of today. My wife and I are currently taking 30% of all money made by our son and have invested it for HIM into the S&P 500. At 17, he already has 10K into the market and by the end the summer, hopefully with more contributions, he will be at 20k. No one taught me to save or invest, I had to do it all on my own. There is no telling where I would be if I had a mentor. I know so much more now and the only thing I can do it teach my son. If he continues down this path by listening to his old man, I should have him in a very good position by 40! Both the wife and I will be retired before 55. Thanks for the vid and safe travels guys!

[@RussandSherri1996]

Very good guys! Temporal distance sounds interesting ~ please and thank you.

[@Corolla97ww]

Good points to consider.

[@lw1622]

A saying I learnt a long time ago, “ Poor people spend their money and save what is left. Rich people save their money and spend what is left.” Subtle but so true.

[@OpenDGuitar]

When I was young, saving wasn’t an option…keeping myself fed was. Even in our early married life, we just barely got by. Then kids…they’re expensive. It feels like we are nearly 30yrs behind.

[@Nicolewhit]

Great content 👌

[@Darryl_Smith]

If my pension officer had told me 14 years ago what I needed to know and explain what all the 'things' I could do with the opportunity I had, I would have been so much better off for little noticeable change in my take home pay. If I could go back in time - ask, ask and ask again what your fund can do for you - and get simple straightforward answers, not BS jargon which meant nothing. To be honest they do not want to help or they have to pay out more money to you - they DO NOT want to so that! Now I am a sort of company pension nerd - but its too late for me - I retire next month!

[@ecclesmanchester]

Just found this channel. I'm retiring in November and will be 59. Lost far too many friends and family who didn't get the chance to enjoy retirement. My wife is going to carry on working but I keep telling her to quit. We aren't rich but have enough in our superannuation accounts to live comfortably. House is paid off so have that to fall back on if we run short. Lived in Adelaide since 1990 and grew up in Manchester. Yes, like all the Malaysians, I'm a Man United fan 😊

[@bryonwiley6161]

Thank you for all your great content and conversations. Topic suggestion: I would be interested in hearing your thoughts on deciding “how much money is enough to retire “ We save a good portion of our income but how much do we need before we retire. I know it’s a hard question and one that is quite subjective and individual however, I would love to hear you opinions.

[@geotabs2]

Very interested in the video of Temporal Distancing please

[@thepropertyflipper]

Excellent point on the generational change and moving from DB to Dc pensions. I don't remember ever getting financial advice or guidance from my parents who were born in 25/35, but they weren't to know that the financial landscape would change so much for us Gen Z'ers. We're hopefully teaching our kids the importance of starting early, but also the importance of living a little now. The other lesson is that no-one will care about your retirement more than you will and no-one will come to to your rescue.

[@mattsurber8990]

Do You ever think You might be the Wrong People to have A KZbin Channel? Your Retirement has not what it should be.

[@KateS1172]

The computer says no😂😂

[@martywilliard]

LOL. And then the forward cough !

[@libbydavis2554]

I want to see your Temporal Distancing video, please!

[@miosylvester225]

Good advice as always and deferred gratification doesn't come naturally to many people although it does to a minority. For what it's worth I discovered compound interest calculators in my 20's - you can find them for free on the web these days but in those days it was a clunky calculator - and I learned to "run the numbers", changing interest rate and time assumptions and the point you're both making became blindingly obvious. You can do the same for pensions, annuities, mortgages etc., and I would really encourage others to play with these tools to really get on top on the numbers you're talking about. Of course, they're only assumptions! Will the stock market continue to give an average return of 8% pa over the next decade? Nobody knows? Will commoditities give better returns? Again guesswork and therefore best to have a balanced portfolio but the point about calculators is that you can regularly review in the light of evidence and performance. My two pennyworth for what it's worth!

[@evadeanu1]

Interested in temporal distance. Thanks.

[@fanfeck2844]

Biggest mistake I made was having too much invested in cash rather than shares

[@nowhereman6540]

No - the bank manager is running a business unit. If you want to blame someone then your parents and yourself are the first places to look

[@colinclark9889]

I just finished your book recommendation “Die with Zero”, it seems to me Bill Perkins would disagree somewhat with your take. I think he’d recommend you spend the £200/mo on memorable life experiences at a young age knowing that one’s lifetime income trajectory usually trends upwards. I certainly understand how important the compounding of early investment is but I tend to agree with Bill Perkins in his book that it’s important to seize opportunities when you’re young and have nothing to lose. Doesn’t he even use the example of his friend who takes a loan from a loan shark to go backpacking around Europe and has a wonderful life experience? Sounds crazy but it was his philosophy on living a full life. I’m not recommending foolish financial decisions but your video seems contrary to the book you recommended and I wonder where you stand.

[@stacie007]

I need to read that book for validation LOL. Seems like I unwittingly went that route. But now I'll be 50 this year and I'm a bit terrified with my lack of retirement savings. But when I was 30-35, 50 seems like 200 years away.

[@colinclark9889]

@@stacie007 I hear ya! Great memories from my youth, I’m 63 (retired and travelling) and I’m pretty sure I’ll have no problem dying with zero 😂

[@romason6567]

Balance.

[@stewartmacdonald601]

I have to agree here. Whilst I haven't read the book, there has to be balance. I also believe I think I should have started properly saving earlier, but the reality is that would have been difficult. I'm 44 now, and only really started significant investment (IMO) a few months ago, and I already see the potential. I didn't do nothing before right enough, and by the time I started thinking seriously a few months ago, I did already have a (just) 6 figure pension pot. But now already in a few months I have grown that 25%, compared to the 10 years to get there in the first place (I have a couple of smaller pensions from before this, but they are small, and dotted around, sometimes internationally, so I don't really count them up). Yes, I could have started 10 or 20 years earlier, and perhaps I might have been in a better financial situation now. But I was already scraping by getting enough together to make nice memories with my young family. And even now, I could do more, but again, I want to continue making these memories while my kids are still young (9 & 11). In the meantime, if I get average returns (i.e. around 4-6%), I should be on track to retire well at 61 / 62. I can maybe do more in the last 5 or so years, or get better returns, and take a couple years off that goal, but I wont get this time back with my kids if I decide to do more now. So Balance is the key here. 2GoRoam will have had a different path, as I believe they didn't have children, and so it is probably different for them to look back and think they could have tightened the belt a bit earlier, and what a difference they would see now. But for most, who do have a family, there is real advantage in making these memories with a young family that you can reflect on in retirement that will give you as much, if not more satisfaction, than touring the world with a Gucci holdall rather than a Regatta one. Just my thoughts on this though. Everyones path will be different. But this is how I see things personally.

[@stacie007]

@@colinclark9889 oh yeah I think I have that strategy pretty well set too 😂

[@jackiebowen6239]

If you did the temporal distance video, I'd watch it.

[@martindouglas9839]

Got to love the 80s

[@suebennison]

Really? I'm so glad that I lived my youth and spent all my money on enjoying life then. Your youth is not a time to be worrying but a time to live your life and find yourself. I'm so glad I did. Maybe I will pay the price but as a retiree, I don't need all of the material comfort. The material shit. A roof on my head, good health, a healthy diet and the love of my dog. Why suck the pleasure out of your youthful years to have a boring existence later? So you can travel around Asia only to come back home in the end and get your state pension? Getting old is for the lucky one's amongst us. Why spend life with a spreadsheet? Live within one's means. I don't need haute cuisine anymore. Bit of toast and a couple of tomatoes. Happy having that whilst the earth moves and I'm still a passenger.

[@RachellGroth]

Retirement planning is very important in our world, funny how in some parts of the world, you need over a million dollars to retire comfortably?

[@ing2911]

The average household income in Kuala Lumpur is about £1,000 per month. If you love Kuala Lumpur, why can't you live here on UK Gov pension ? A married couple pension in UK is well over £1000. I can't see any problem financially if you spend your money wisely in Malaysia.

[@madamroo434]

Thanks! Where are you, by the way?

[@rebeccapettifer6553]

Interested in the proposed video of Temporal Distancing please.

[@omrouk]

Ah, Violet Elizabeth.

[@markthomas2436]

Whatever you do, do not buy a big expensive boat.

[@cindy-ml7vo]

I'm retired early, thanks to my 23 year old self