What Retirement REALLY Looks Like: The Inside Story

[@MichaelBordenaro]

They’re Only Telling You What YOU WANT TO HEAR kzbin.info/www/bejne/qZ6xZa2vbbGhjrM

[@pukavoket]

Anyone that is considering leaving the US for another country where you can live very comfortably with a minimum of $2500 a month watch KZbin videos on the Philippines.

[@lindaadams1008]

You should do a retirement part 2.

[@gordonkistler916]

You have no fucking idea what retirement is like, I have always worked for myself and never have had to depend on the government or a private corporation for retirement income and I do not use credit cards to get by, so far retirement life has been fine!

[@eddenoy321]

@Michael Bordenaro @8:37 in this video you show that 'Dave S' has a government pension , (TSP/401k) stocks, real estate portfolio of many rental properties and God know what else .... AND he states that he either is or will be eligible for SSI up until age 62. Supplemental Social Security (SSI) is for those who are at or below the poverty line. Either he is mistaken or he is admitting to welfare fraud right on your channel @ 8:37. Love your channel but this is awful misinformation. Please address this Michael.

[@overbuiltlimited]

​@@eddenoy321 Dave is correct and not doing anything nefarious. He was a LEO or Firefighter. You can tell because he retired at 20 years. Non LE/Firefighter positions have a 30 year retirement. I retired last year from the feds at 51 and also receive a SS supplemental. Fed employees that retire from LE/Firefighter positions receive a supplement because we retire before we can collect traditional SS. Mandatory retirement for these positions is 56. We receive that supplemental until we are eligible to draw SS.

[@nancyling8976]

House paid off. Think cheap. Thrift store has everything! 20 year old Acura I love. Enjoy everyday! Keep it simple. Stay debt free! Cook real food. Don't eat out. Avoid bad people!

[@emzywillrich7243]

Now, you have the ideal retirement. Me too!

[@commonsense6967]

Me too, though I splurge on my grandkids!

[@jimcrawford3185]

I retired and got a disease

[@Lugnuts807]

This is the way.

[@okimitchell1043]

​@@jimcrawford3185 wth😳😊

[@josephsmith9130]

Use to live on Miami Beach, sold the property and moved to our other home in Ocala to start the retirement process. Paid off the mortgage, both cars and zero credit card debt. That is 50% of retirement planning, no debt. Move to a lower cost of living location. These are the necessary items you must do.

[@MichaelBordenaro]

I agree

[@leighcoulter3923]

Yes I did that in 2006. Sold house in FL and moved to a cheaper state and live debt free.

[@melorca1962]

@@MichaelBordenaro For that sort of reasons, I have been thinking about locations like New Mexico. Not sure if it is an absolutely good idea but being near the border makes it easier to move south of the border if needed.

[@kellykell9620]

Don’t forget to invest in your health too! You actually inspire me to go for walks. No matter how much money you save the golden years can be not so golden if you can’t enjoy it. I gave up alcohol, coffee, exercise daily and eat a plant based diet. Health is wealth ❤.

[@jagsfanrick]

I clean pools and love it at 55, still enjoy a vodka drink and coffee sometimes. Exercise is pushing that vacuum and walking around the resort pool. I eat whatever as never was one to gain a bunch of weight as always small boned and skinny.

[@kellykell9620]

Yes I agree that different body types need different amounts of calories etc. plant based isn’t for everyone. An active job is a win win!

[@MichaelBordenaro]

Excellent point Kelly! Glad I can give some inspiration on the exercise part as well!

[@MichaelBordenaro]

Thanks and I enjoy it! I know most people that watch do as well

[@auctionmusic]

you hit upon the absolute main ingredient. Health is one thing, fitness is another. both cannot be beat.

[@alansewell7810]

Another thing about retirement is that you don't have to live the same as you did when you were working. When you were working you never had enough time to shop wisely. You went to the grocery store and loaded your cart with whatever caught your fancy, because your time was short and you wanted "comfort food" after a long day of stress on the job. In retirement you have time to plan your shopping better, to get better quality food for less money. Plus you do not need the same amount of food as you do when you were working. Most of what you ate when you were working was to relieve the stress that working demanding jobs puts on your body. Including eating fat-loaded food and drinking lots of alcohol. You do not feel this stress in retirement, so you will eat less, spend a lot less, and be healthier. Nor should you need to spend as much on clothes or gas when you are no longer meeting with people in business every day.

[@spookerr]

I agree with everything you said. BUT. Let's not forget, Your Health Is Your Wealth.

[@j4513]

There are very few KZbin channels that I watch consistently. Even fewer where I never miss a single video and also watch every single one to the end, without fail. Your channel is one of those few, Michael. 👍🏼

[@SirCarlosMusicBMI]

Same here 🎉🎉🎉🎉🎉

[@khay_m]

Right! Same here. 👍🏾 :::

[@MichaelBordenaro]

Wow, thank you!

[@larryeifler2994]

Great video! I retired at 59 due to an early retirement incentive. I am 80 now and have been living in Thailand for 17 years. With my Social security and my pension my income puts me in the lower half of the middle class. Everything is going fine since I am healthy. My Thai wife takes care of all matters Thai. Each person makes their own adventure.

[@TheSuperdodgy]

NIce one Larry. Sounds like you are livin the dream.

[@Stephen_567]

I am thinking Colombia.

[@brianmatthews4149]

Nice

[@robertmanley2687]

@@brianmatthews4149 Another dead ender who couldn't cut the first world.

[@thomasallen6980]

They selling cheap apartment buildings in Kiev? lol.

[@jimwolfe4286]

Great Video, Michael !!.....Everyone is different, but....there is one thing , I think everyone can agree on.....FREEDOM !....It is such a Pleasure to wake-up and do whatever the heck you want !...Army basic training taught me that " Attitude is Everything " , well it's 50 + years later....Boy, I'm glad I learned that lesson at 18......Bottomline: The less you "need" , the more Secure you are..and the "little" things in Life have Great Meaning !.....Hope this Helps.......Take care and Godspeed....

[@MichaelBordenaro]

Thank you Jim! That was a great lesson to learn so early in life and it can carry you through the rest of life without much to worry about

[@jimwolfe4286]

@rattlecat Thank you for your Service and for "staying on Mission" !...Godspeed..

[@makedolife]

Great subject Michael! I’ve been helping people prepare for their retirement for the last 13 years. I’d say prepare as early as possible and make sure to understand how tax will effect your retirement. “It’s not what you have, it’s what you get to keep.” It’s really sad that some comes to me in their late 50’s with very little or nothing saved. It’s never too late to create a retirement plan for children. Our children’s retirement plans started when they were born knowing there’s the likelihood of Social Security not being there for them.

[@billyoung8118]

I'm 55, wife is 58. Never had kids. Have about $30k in 401(k) - yeah, stupid. But I'm adding about $25k per year between me & employer match. And on top of that have a $25k/yr equity grant into ownership. Given all that, I will be fine. But even more: T1 diabetic for almost 40 years. Wife has m.s. Our health is such that we will not have a long retirement. Not being depressive, just our reality. We will be fine.

[@nickthequick]

we never know what cards we will be dealt, but we all have to play our hand to the best of our abilities. There is no upside to moaning about things you can't change.

[@cassandraatsea]

Love my career. I don’t mind selling houses till I die! I’m 65 and no desire to retire. If you are healthy, and if you love your career, don’t give it up just because of your age.

[@brianmatthews4149]

It gives you a self wealth.

[@yepyep6916]

Agreed…it’s all about how you want to spend your time whether it is with your career, hobbies, volunteering, or traveling.

[@tabathia7633]

Yes, Mina: Good for you, I also i"m not retiring. maybe a few more movies, or few more vacations, but that's it.

[@jhall2264]

My plan: 401k, Roth IRA, Personal Savings, buy & pay off a house, & social security is a bonus. Since we have a looming recession, I'm setting my retirement portfolios to "safe" to mitigate loss.

[@shirleyruth55]

Great video! Retired April 2022, 67 years old, after a lifetime of university teaching. Was going to stay til 70 cause loved it, but no jab for me = no classroom in California! Cashed in my 403(b), and several IRAs, sold our CA home in a week at a ridiculously high price, packed our bags, and moved to South Carolina. The BEST BEST BEST decision we ever made! My only regret is that we didn't move earlier.

[@FreshGrey-pm4vw]

what part of SC do you recommend?

[@shirleyruth55]

@@FreshGrey-pm4vw any coastal area is beautiful.

[@marissasaponare]

"Are you tired of feeling lost and overwhelmed when it comes to managing your finances? Look no further than [Rochelle Dungca-Schreiber]! With their expert guidance and personalized approach, they helped me navigate the complex world of money with ease. Their extensive knowledge of financial planning, combined with their warm and approachable demeanor, makes them the perfect partner for anyone looking to secure their financial future. From budgeting to investment strategies, [Rochelle Dungca-Schreiber] has truly transformed my financial outlook. Trust me, you won't regret choosing them as your financial adviser!"

[@Abraham.Lincoln22]

No one has ever been on their death bed & said…”I wish I worked longer.” 🇺🇸

[@nonawolf7495]

So many "mom & pop" landlords got hurt when the government decided people didn't have to pay rent anymore... I sold my rental unit and bought commercial REITs My multiple income streams will replace 100% of my salary when I retire - but property taxes and homeowners insurance in FL are killing me. It's criminal.

[@manbtm1]

I agree totally with doing the opposite of what everyone else is doing. I also have done that most of my life ,where the herd runs ,I go in the opposite direction. So many people I know are sitting there adoring the idea of going to Florida, and great for them if that gives them happiness, but myself I’m staying up in the rust belt large cities which I love , enjoy the four seasons, I really dislike hot weather all the time, Florida seems far more expensive and we are not dealing with this constant drama, not worried about natural resources and so far we’ve been majorly escaping natural disasters. I don’t want to follow the herd where millions of people are going and place themselves in cookie-cutter housing areas, and everybody acts the same and does the same thing. No thank you, to each their own

[@cherieparsons2982]

I truly appreciate your retirement focus/commemts/info!!!!! I am in NC, and have always wanted to retire there....and retire fairly early...to enjoy.... Single, 61, and your comments are helping me make a plan.. Thank you

[@thomashardison6698]

RETIRED Army. Good luck brother. I hope you can make it work

[@janicecantore7180]

I retired and moved to Hawaii. I love it here but have to wrk part time. It’s health care costs that kills me. And I’m healthy.

[@stevenphillips3466]

Just claim your an Illegal Alien and all your health care is free ....let those SUCKER American tax payers foot the bill

[@solidus_]

love your content man. Keep it up. My wife (34) and I (35) have 5 rental properties. We are anti-stocks/401k /roth etc and are 100% in real estate. Thankfully we purchased in 2017 through 2020 and in Jan 2023 reached million network. Bring this up to save that I find investing in tangle things that you can directly control/improve is way better than paper accounts such as 401k/roth/brokages etc. My heart goes out to everyone trying to get started in 2023 and onward. Please be careful out there.

[@nashhappyhome6019]

As a nurse, I won’t recommend to retire on third world country without health insurance. Some countries are more expensive to get sick without health insurance.We did try to live abroad and we didn’t really like it, we tried for 7 months and it was worst experience because of traffic, unorganized government sectors, expensive medical bills, so on and so fort.. so make sure you figure out your other miscellaneous expenses because you never know what are other things you probably have to spend

[@amylee9]

Which country did you move to?

[@MichaelBordenaro]

Excellent tip

[@evelinholmes6401]

We visited for 3 Canadian winter Ecuador. Never could warm up to that country,of course language barrier and food was a problem. But what i noticed a lot Americans moved there from Hawaii. These where elderly retirees. I did feel sorry for them because I know the where not happy there. Yes it was cheaper living but they missed there surroundings . Ones you’re close to 80 it’s difficult to adjust.

[@michaelearlgrey]

I know a couple people who went to Thailand. Decent expat community in Chiang Mai. Cheap food. Cheap rent. Cheap healthcare. I guess by the time you're old the heat doesn't bother you...

[@martinsulak6366]

3rd world might be problematic but US is not perfect either. Insurance is extremely expensive if it covers everything including cancer. Most EU countries have free healthcare financed from income tax. This tax is labeled as an insurance but it is a tax because it is mandatory like a tax and it is a percentage of income. Only foreigners can have problem with healthcare payment.

[@CatsAreNiceMeow]

I love how you took the time to answer questions! I learn so much from your channel.

[@rosspitca9142]

We paid 6%+ back in 1998+,, the difference was nobody was paying more than 2x annual income for 1 person for the house.

[@MonkeyhammerTP]

Most important detail people keep overlooking. Home prices are completely out of wack.

[@Joeainthere73]

My first house was 2.4 times our combined income in price and 13.5% fixed interest that couldn't be refinanced for 12 years.

[@NoBubbles]

@@Joeainthere73still better than current times. Not much but better

[@overthehilldill3626]

Thanks for reading my post Michael. Doing things unconventionally was something i learned from watching my family. It was always drilled into us to never rely on anyone, especially the government, only rely on yourself. We're the only masters of our destinies. No matter what happens my family will survive. You have such a great outlook on life. Thx again for a great channel!

[@andyg806]

I an loving these comments from those that have had or are having successful retirements. Retirement is something that has been on my mind recently, and these comments are extremely helpful.

[@alansewell7810]

I retired in 2005 at 46, just before the Great Recession whacked everybody's finances. I got through it and kept going all these years after because I retired "defensively" by paying off several modest places in nice parts of the USA, including one in Florida, that don't require a lot of income to keep them going. I've also lived overseas. It's wrong to think you're going to retire well in another country if you can't live well on retirement in the USA. The cost of living for upscale places is the same everywhere, and the cost of modest places in the U.S. is no more than in a similar place anywhere else, including in Mexico, Colombia, Ecuador, etc. Those other countries can be difficult for an American, both in safety and in risk of running afoul of local laws. Maybe not worth going there at all unless you already have family living there. Sharpen your pencil to see what you can do in the U.S. before thinking about leaving. If you're creative, you should be able to find decent places in any state here that'll get you buy on a modest retirement income.

[@landeeld9596]

I am so grateful to be retired. Retired a year and a half ago and moved to FL. A dream come true.

[@joeswanson733]

At least you don't need to deal with the bs of the working world

[@FloridaGirl-]

🥳🥳🥳

[@CHMichael]

Hope insurance and hoa aren't throwing a wrench in your numbers.

[@commonsense6967]

@@CHMichael Self-insurance is the wave of the future in FL.

[@CHMichael]

@@commonsense6967 absolutely - I think that's what the state should do. Just a little tricky right now for people with a mortgage. ( I bought in 09 for the price of a down-payment but that's not the norm.)

[@Matt-uy8tw]

I watch your videos twice usually. I watch once when i'm on the road trucking, and once again when i'm parked to remind myself what home looks like.

[@MichaelBordenaro]

That is awesome, thank you !

[@glennsullivan1970]

Great segment!!! You should do more stories from other people always extremely interesting and relevant in our own lives

[@cl2385]

Thanks for showing Florida while learning! My brain is retaining so much information this way. I think it's the visual and auditory learning side of me 😊😊

[@natalieoj3078]

Your very level headed and your mom is very proud of you I'm sure

[@MCC876]

Concerning retirement, good luck, all the best, best wishes to all. Plan, prepare, we got to take this seriously.

[@MC-rr3ew]

Hi mc..I'm mc too

[@johnwade3476]

I live in Waterloo Ontario Canada this is happening here it used to be a nice place to live affordable lots of work but not now with all the non citizens buying up all the housing the average home price is a million dollars ! It's ridiculous thanks trudeau

[@miketuttle9319]

I have been around retired people most of my life (live in FL), the most consistent thing I see is that they’re bored. I know it’s not true in all cases, but most people don’t have a long term plan for their retirement years, other than not to work. It’s probably great at first, but as the years roll on looking out the window for the postman to show up gets pretty old.

[@armandoruiz2089]

Soooo. True.

[@joeswanson733]

Golf

[@NuNugirl]

I’m sitting at the beach at 6:27 in the early evening watching children with boogie boards. I’m not bored 😊. Young families,couples strolling and the ocean serf. I came to FL to live.

[@rebeccacarter1914]

Retirement should allow you to do the things you never could do while working full time: paint, sing, garden, help others, etc and not just wait to die.

[@CHMichael]

Too many stop working and die.

[@ginon.7329]

Worth every second of viewing multiple times. Again, though off the 'real estate' subject, specifically, a bit, this was very informative, pertinent, important, real life, real time information. Especially for a good portion of your viewers. I also hope you can 'milk' this youtube thing out forever. You put in the work and thought with, and of, your stories with various scenarios setting/staging events many would not think to foresee. Viewers love it, keep it up.

[@debrarussell1979]

My husband and I have pensions, highly recommend! I could make more in the private sector, but I knew I would not save enough. Plan to retire at 52, then work full time for 10 yrs to pay off my home and increase savings

[@chrismiller1818]

Personally before I move anywhere permanently I would live there for a year and see how things actually are this way if you don't like it your not committed

[@rebeccacarter1914]

Very smart!

[@MichaelBordenaro]

Me too!

[@PrimoChris09]

Dont be a carpet bagger

[@jimshoe402]

U mean Rent before u buy .HaHa

[@petersheenan4482]

Health is number 1 and money is number 2. Try to have both by your sixties. My friends are unhealthy and dying off.

[@palomahealing5073]

Yeah, we still wanna keep seeing you! You're like the little Realistic-talking Angel on our shoulder.

[@debbiec6216]

My plan for investments , retirement , etcccc were planned when I was 18 years old . We have to give my brother-in-law Credit for mine and family retirement. He wanted to make sure, the family were taken care of and where we were all able to retire at a decent age.

[@doctorstrangelove9487]

The real inflation rate is between 15 to 20 percent once you add energy plus food to the index.

[@Bigboss-xe6lm]

Way more... More like 120% last 5 years

[@bryanbunday781]

Everyone is different, however IMO retirement is overrated, at least for me. Retired at FRA in August 2020 with no clue what was to come with the economy and politics. I know I may be an exception, but I wish I had kept working. We both picked up some part time jobs to supplement SS & pension. BTW, it's not just about the $$. Loss of social interaction, appreciation of doing a good job, and being part of the team are other important factors to consider. So yes, will probably do some kind of work until the end!

[@overbuiltlimited]

To each their own. I worked in very toxic work environments. Not the kind of social interaction that you want. And appreciation for your job? I wish. As a law enforcement officer I couldn't retire fast enough. Now I get to socially interact who I want to and pursue my interests. I'll never ever work for someone else again. I do have a small business, but its related to my interests so it's enjoyable.

[@dh2jr317]

My wife’s Family is from Italy. We are moving to Pisa in the Tuscany region. Good Health Care and Doctors.

[@Jeannified]

Great video, Michael! My friend who I told you recently makes the big bucks, but doesn’t want to pay more than the minimum on her student loan, plans to move to Portugal eventually. We’ll see. Fort hunker down! Live simply!

[@randywilliams4325]

Retired from SF Bay Area . Left and went to Iowa . Had to move somewhere with cheap housing and good health care . Houses are cheap and they are selling . Saw 3 sold signs in 1 day . Only problem is no sunny beach and cold winters .

[@markfcoble]

Sold all stocks 2000. Bought shiney stuff. Paid cash for home and property out in county. Real food! We don't eat at restaurants. Looked at Lake Chapala area, Mexico but wanted to stay in the states. All is well here at high mountain desert forest plateau hideout NM. We have old car and truck....retired 2005 at 60. It's been great. Bong hits all around....home grown.

[@2balikbayans-simplelivingn868]

Great post, Michael. We're staying put in New Mexico in retirement. Previously, we were going to move to Florida. Michael, please inform your audience that if you wish to move overseas, you cannot keep your U.S. bank accounts unless you have a permanent mailing address in the U.S. Our bank informed us that we could use a "trusted" friend or relative for the mailing address. However, we are concern about the pre-approved credit cards that are being mailed without our request. Identity theft can be a problem. Our final decision is just to stay in place in retirement where the cost of living is low.

[@MichaelBordenaro]

That is an excellent point, thanks for bringing up that concern about keeping a U.S. address for banks

[@2balikbayans-simplelivingn868]

@@MichaelBordenaro Thank you, Michael.

[@tokay57]

Social Secuirty is not a gift or handout from the goverment. Its your money that you paid. I am not going to say oh well, whatever.

[@snackman2005]

I'm 60 and planning on retiring at 62 or possibly a year or two later. I love the job I have and it is a worry and stress free job. I'm retired military and with SS we should do just fine. We are basically debt free we have no mortgage and one car payment. But while I am working we will probably buy a new car heading into retirement. We can live with one car payment. Just don't want to have the unexpected expensive car repairs.

[@joeswanson733]

With your military pension you should be doing ok general

[@josefj1776]

Nice the military retirement is very nice. Even though our household will get that also I am putting money into my Roth and with a paid-off house a 70% reduced SS that will pay the bills. But I will work till 67 as that extra payments if will help a lot more than the lower pay of early.

[@DONALD1951]

Lease a car…no repairs.

[@josefj1776]

@@DONALD1951 an oil change is a repair. It is also more expensive to lease than to just buy a low mileage used car.

[@evelinholmes6401]

@@josefj1776 My sister-in law found that out. Here husband leased a car and they payment where not to bad . He died in 2017 . His wife had a hard time keeping up with the lease payments. When the lease expired after 3 years she still had to come up with a hefty sum. Thank god her investment ended and she was able to pay it off.

[@esskay8768]

Just gotta take one day a time and live it as if it's your last day

[@evaaro1603]

I retired with a pension and now collecting SS. I retired to Puerto Rico, $600 rent, electric, water bill included. Very peaceful and beautiful beaches near by...

[@janetbyrd2169]

Michael I really enjoyed this video because you touched upon so many issues retirees are dealing with now. These are difficult times for many. May dad (depression era) always said look for the lesson, and you seem to be acutely aware of this. It's important to share hope for those who are feeling helpless. These are scary times for everyone but I can tell you we will get through this. Have faith in our government and country because we have been through worse. I'm a fortunate retiree but see my kids and others suffering with inflation and it really saddens me to see the fear. We will be fine, including your mother who must be a terrific mom.

[@MichaelBordenaro]

Thank you Janet, so glad you enjoyed it and I really hope it helps others who are nearing retirement. Having some faith is really important right about now.

[@mackakiwinz4353]

Have faith in your government are you living under a rock?

[@lagneuk702]

The most statist thing anyone can say is to have faith in our government which is organized crime and murder Dope incorporated...Your taxes funded the trafficking of heroine from Afghanistan till this very day and the Jabaroo genocide of Operation Warp Speed...any questions?

[@jackalay23]

If your number 1 concern about retirement isn't the cost of healthcare, it should be.

[@KS-yp1jl]

I really enjoy this kind of videos where you share people's comments x

[@Joeainthere73]

We attack big oil...gas is up 300% since 1982. Property taxes are up 1500% in that time. Insurance is up 1600%. What shiny metal object is being waved today? ESG, DEI, climate, red meat, ... government is sitting pretty good on their 1500% raise and convincing you big oil is the problem, not them.

[@ThePerfectSeason1972]

#1 post of the Year !

[@patriciamcgill9740]

Michael I LOVE the way u tell it like it is. Don't stop being u. Let the may sayers have their say.

[@TheAlexa6]

My boomer parents and in-laws are still working in their mid-70’s. FIL is very wealthy but refuses to retire because he loves his work, my Mom still needs to work part-time to survive (she’s an RN). At least current retirees still have pensions, 401K’s and SS to help fund their retirement. Those of us under 50…best of luck. Pensions are underfunded, 401K’s will be taxed at higher levels in the future (that’s a guarantee) and social security/Medicare is a pipedream.

[@foryou-ft8vf]

It's good to plan for retirement but still balance that with enjoying now and prepping for eternity. We are not guaranteed tomorrow.

[@stevenphillips3466]

yah, I figure I have 20 good years left after retirement , ive got a whole bunch of plans , travel , friends, camping , quading / motorcycling , seeing America in a camper , Europe and Asia , Roman ruins ... hoping to cram a lot of life into that time.... when free from teh accumulation phase

[@natalieoj3078]

Exactly do your own thing. I take a right when everyone else takes a left

[@vladanat]

The big challenge facing retirement is the inflation, which is not always accurately and objectively presented, and is individual, specific for each person according to their specific expenses and lifestyle. This is the key unknown factor with its dynamics (financial situation and financial literacy are relatively defined and they are different and specific for everyone) The short definition of inflation is that it is a tax that people pay for the mistakes of their rulers. The US is adding $1 trillion worth of debt to its total balance every 100 days, BofA strategists estimated in a note on Friday. That amounts to around $3.6 trillion worth of debt taken out every year. The government also looks to be spending more than ever on its military budget! Which refers to the other big unknown in the equation - the great domestic tension and confrontation from inequality combined with the troubling international environment and uncertainty - wars and conflicts. These are systemic problems that have greatly escalated in recent years. In this line of thinking, it is obvious that the situation is dynamic and unstable, and great upheavals and changes will follow, inevitably also influenced by the rapid development of technology (including information), which will lead to great changes in both our lives and our ideas . Including current and future pensioners.

[@Gigi30107]

Really liked this video. Very helpful and educational to hear what other people are doing. Then to hear the input from you too. Im learning what all the options and ideas are.

[@katydid2877]

End of 2021 sold my ridiculously priced home in AZ and bought a condo cash in a small tourist town in the midwest. I’m not working now, but am looking for part-time to speed up paying off the remaining debt from moving, make a little money, and stay busy. No pension and I started SS at 62. I’m divorced and getting alimony for another year. I live a very simple life and am satisfied with it. I’m not interested in travel and live in a tourist town with tons of things to see and do that attract people from around the country. It’s a fun environment. I’m crazy healthy, have enough money to live frugally, and will work part-time as long as I can. I’m good 👍

[@jimshoe402]

Health INS....

[@espada9]

I don't understand how people can live their entire lives without having any hobbies or passions in life and without learning how to manage their health and finances.

[@christersmith5470]

On CN: that's why we're investing in real estate and dividends. Growth stocks are nice...as long as you never sell them and you don't retire during a recession.

[@sharondevoss779]

Always enjoy listening to your video's Michael! I guess I am one of the few that is not going to work until I can't anymore. Life is too short and I want to enjoy retirement. I am not rich by any means but plan to enjoy the little pleasures in life.

[@MichaelBordenaro]

Thanks Sharon! That is the decision that we all face at some point and thats if we have the luxury of a choice. Don't blame you for wanting to live out your later years with joy

[@sg8953]

The biggest thing is health insurance. You're not eligible for Medicare or a supplement until age 65. But the costs to someone in their 50s and 60s for health insurance, even with subsidies, is crazy high. And it'll be a high deductible plan that doesn't cover much of the cost beyond preventative care.

[@jimshoe402]

$100K for 3 years..

[@rodneyfranks2726]

In my hometown in northeast Georgia, I see a lot of retirees that move to Florida and then run out of money at some point during their retirement. They move to Georgia/ Tennessee in which they live in campers or tiny homes. The shear number in my hometown is alarming. A friend of mine said a lot of these people are buying storage sheds to live in, which would be illegal in my area if caught.

[@Brigitte724]

We live in NYC and we are retiring in NYC Queens. We have government pensions, 401k's, Roth ira,savings, and social security. I do some entrepreneurship and will focus on that in retirement. I also plan on starting an KZbin 😂😂😂 We are also leaving 25% of our pensions to our only child as a blessing 🙏🤩✨️🎶

[@GardenStylenw]

Love the new hair! Thank you for the retirement info. I'm 5 years away, and it may be longer if this economy doesn't get any better. We are all worried. 😮

[@MichaelBordenaro]

Thanks! Glad I made the video, was hoping it would be helpful for people like yourself

[@josephgrieco4453]

Great video Michael & thank you for the mention. You are right, I would be screwed either way. My thought is having a property is a hard asset, compared to gambling in the market. I would also consider the option of retiring abroad. Panama comes to mind. Panama is affordable, has a modern infrastructure, a high percentage of English speakers, are American friendly and have a great health care system. Sadly my wife and children do not agree. My BIL packed up and moved to the Philippines are few years ago. He & my wife don't speak, so it's my job to reach out periodically and obtain proof of life. LOL! He seems happy.

[@Scythia1313]

We are off to the Philippines because we can’t afford to stay here. Been planning this for months and we are so excited!! We will be teaching people how to get out before they get trapped in the US thinking it’s going to get better. Look out for us on a channel near you!

[@paulvanier429]

I am 58 and my wife and I will be retiring in 9 years, our plans is to retire in Japan, not for affordability but for the way people are behaving in society and the life style in general. Here in United States you have mainly 2 types of mentalities: the entitle people who thinks the entire world owe them everything, and the "no body tells me what to do" type of people.

[@bicgohill8756]

I say take care of yourself the best you can, mentally and physically so you won’t have to ever retire.

[@Tavi-u4x]

Michael just caught your content I retired at 52 Now four years in I dont depend on social security I'm glad I retired just when everything was opening backup from covid I moved to Nevada Closer to family No debt I pay my uncle rent I live a quiet simply life Dont travel All that matters is that at end of day you're happy No perfect time for retirement I retired with a PLAN God & family paramount Ultimate freedom! Peace is priceless! Less is more I spend time out the house four hours daily BUT I treasure my home life Serenity

[@sail6967]

We retired in 2021. Had planned our retirement more than 20 years ago. Lived off half our income and invested heavily. Our plan was always to live off 80% of our income in retirement. Our nest egg has to provide 33% of that number and SS provides the rest. It's working out so far. The socialist government we currently have does make us nervous.

[@alipainting]

Don't worry about socialism, some in Congress now want to cut Social Security by 70%, so no more socialism 😅 whew !

[@bobblacka918]

You have done very well, but you can't only think about yourself. Not everyone has the ability to do what you were able to accomplish. If the government reduces benefits like Social Security and Medicare to the people who couldn't save up a nice nest egg, they will be forced to live on the streets. Do you really want to live in a country where 50% of the aging population will be forced to live in tents and eat at soup kitchens run by charities?

[@sail6967]

@@alipainting Social Security isn't an entitlement like welfare. I paid into the system (no choice in the matter) all my working life. More than forty years. So the morons running the government owe me. I don't know your age, but I suspect as you grow older you will come to understand how poorly our government, both parties, manage things. Remember, the government doesn't create anything. It just takes and redistributes the money. It is really a sad state of affairs. If I had been able to invest the money I was forced to pay in to SS I would have way more than the amount I have now. Anyway, good luck to you. You're probably going to need it.

[@cjjohnson1821]

@@alipainting They could shut down the roads, schools and county hospitals to almost eliminate that evil Socialism too. Can't wait!

[@lilyshade4124]

@@alipainting LOL How quickly people forget many programs that benefit them is socialism in practice.

[@BikeHelmetMk2]

11:20 - Keep it. The stock market is recovering right now, while real estate is still weakening. If one rallies hardcore, it'll affect the other as people rebalance, but for the time being it's probably best to play the reversion to the mean, and just let the stock market funds and individual stocks recover. Keep watch for good deals, but maybe real estate shopping later in the year or next year is smarter.

[@ballaratevil6048]

Ausralia Reserve Bank put interest rates on hold yesterday but next month who knows and as for My retirement I am saving every cent today for later in the future.

[@administrativeassistantboh3447]

My husband’s 401k is losing money. He’s 60 so he’s past the 59-1/2 where he would not need to pay the penalty. Would it make any sense to draw any of that out and put it in a CD and 4.75%. Just not sure.

[@robertg1556]

I'm retired and have a good pension and collect Social Security. I don't want to travel the world, or golf everyday so I got a part-time job. I do golf once a week and participate in other activities to fill time and I'm happy. Working part-time not only keeps me busy but the extra income helps me to invest more to build the nest egg I'll have once I do completely retire. Cheers

[@ginacardarella]

Me too out of the usa getting close to retirement started practicing minimalizing maybe a piece of land off the grid

[@SirCarlosMusicBMI]

Thank you Michael for another awesome video. I created my own 401K through investing in Real Estate. I sold my last building for over a million Bucks and am getting some awesome payments for the next 15 years. Life is good. Blessings, Carlos ✝️🙏❤️😊❗️

[@joeswanson733]

Congrats at winning in life.

[@jimcrawford3185]

@@joeswanson733 Now try winning at death

[@MichaelBordenaro]

That is great to hear Carlos! Always love hearing from you my friend!

[@Bmeri3]

Moving outside the US after retirement isn’t all that new. Lots of immigrants to the US have done that for decades but it was under the radar for the most part. They immigrated to the US, raised a family, earned social security and then moved back to home land very comfortably on a US based pension or social security.

[@michaelwood6636]

I won't retire for another 25 years, but I plan on either moving to Japan or finding a gator locally if I'm in bad shape. Healthcare is cheap in Japan, and they've been deflating since the late 80s. Everything else is also reasonable nowadays. No crime, and less societal decay than over here.

[@carefulconsumer8682]

In one year I predict you will have over 500,000 subscribers. Hope so, anyway. Your lectures are very informative. One interesting thing I am seeing my Houston suburb is suddenly several new listings. I spoke to two of the Sellers and they both said they had ARMs and now need to sell because of the mortgage interest rate reset. Interesting, yes. The realtor at one of those open houses said she expects to see lots more come on the market as time goes on this year for the same reason.

[@MichaelBordenaro]

Thank you very much that would be something! People with resting ARM's right now are screwed.

[@pmscalisi]

@@MichaelBordenaro ARM has to be the most foolish thing anyone can do.

[@auctionmusic]

I'm retired live in a 3% house no other debts only income is SS and is working fine.

[@joeswanson733]

You won at life congrats

[@tonyn3227]

Traveling is also living, sitting just home isn't, if that's you

[@auctionmusic]

@@tonyn3227 I'm in Arizona and hiking and running is my fun. Also, dont need to go to europe. Just go to the grand canyon and its full of europeans, especially germans heh

[@phaedrus2633]

I really enjoy your videos, and your common sense advice and outlook. My best friend is a real estate broker in Michigan, and he is also filled with the same common sense approach.

[@trading3072]

Inflation will curb. The 5% CD is a good option over any 401k type vehicle for the near future in my humble opinion. Fear is the mind killer!

[@thetapheonix]

LOL inflation is going to get worse. A lot worse. The Fed bailing out banks and the government sending money to Ukraine is all money printing.

[@Joeainthere73]

I just talked to fidelity today and found out they are at 4.5% for money market account in rollover IRA. It could stay this high for another year and then slowly decrease.

[@brianharris1581]

Buy oil

[@GM-ke7kf]

Good video. We are nearing retirement, so it’s nice to get input from others. Thanks for the interesting stories.

[@sherryhayshome]

Thanks Michael! Great video. I am hearing from a lot of Floridians who are moving out because of high costs.

[@kiuki42]

Hi Michaels mom! Stay safe

[@Sonikbytes]

Mexico is making more difficult for expats and if you want to get a residence now their requirements are getting out of hand with income requirements, and possibly vetting.

[@emzywillrich7243]

Michael, sometimes you can come out ahead by cashing out and taking a tax hit versus staying in the market too long and losing a lot more money than the tax penalty. There is normally a breakeven point but you have to watch what's going on very closely. Now, with this speed of light trading, it is almost impossible for the average retail investor to know when to jump ship. You really can't believe anything those self-serving brokers tell you. I tell friends when you accumulate a significant sum of money, even as low as $10K, the vultures come out and use their schemes to try to get it.

[@MichaelBordenaro]

I agree, Emzy. Thats why I personally like to be in charge of my own finances rather than letting someone else whisper in my ear.

[@stevewalther2293]

I should get the hell out of Florida and move to South Dakota...some place cheap...

[@HotRodMolina]

Miami is six times more expensive to live in than Malaga, Spain. No brainer if you ask me.

[@joeswanson733]

Spain ain't cheap either

[@CH-vm6cq]

Malaga is a dump

[@joeswanson733]

@@Originalman144touche

[@Xtramedium1961]

Spain is beautiful and reasonable, I’m Irish 🇨🇮 and live 7 months in Guardamar del Segura and 5 months in Co Kerry life is good

[@zippythechimp4219]

People escaping USA due to financial reason started long ago with healthcare. People have been jumping the southern board for decades for prescriptions and dental work. They have also been marrying across the northern board for healthcare for decades.

[@melvano4014]

15k a month pensions after taxes are a blessing for us. We would need a lot in a 401k to produce that income.

[@BrentsTreehouse]

So many rental properties are cash flow negative are zero. People need to do the math carefully before putting all their money in a rental property.

[@shea1219]

I am happy you did this show, because I am now ONLY starting to save for retirement at 39 years old. With the way things are going, I will be lucky to retire at 95. Everything is sooooo expensive.

[@ourblazingworld]

yep I went to Panama Central America last month to look at housing for my pending retirement. I love it and can't wait to go. I will lease my hopefully paid for house out here so if I want to come back I can.

[@zuikoglass4091]

Relocating to a lower cost of living foreign countries- Some have moved to an area they thought would be perfect. They were correct. Ten's of thousands followed because it seemed perfect. . Now the cost of living has made it intolerable for many.

[@zuikoglass4091]

Sorry, I was writing before the presentation ended.