I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I has spent same number of years in the civil service, she is investing through a wealth manager and myself through the 401k. We both still earning towards having our retirement.
This is true. I'm in my mid 40's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $800,000 by investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I am planning to retire at 56 years old! I've been working since the age of 17...and I don't want to work going into my 60's🙅🏾♀️ at least not full-time! I want to travel..enjoy life on my time! Yes, we are programmed to work until the grave is calling🤨 but that's not how it should be! It's a time to relax and enjoy life🥰 Great Video❤
I also want to retire at 56, which is now. I started working at 17 when I joined the Navy. I’ve now been in Corporate America for more then 20 years. I’m so ready to go and venture into my next act, which I pray is traveling, writing and enjoying life on my own terms.
@@karenforte1455 Right! I was also in The Navy at 17 years old! I have been working since! I just turned 53 this month and I am so ready to enjoy being on my own time...and on my own terms❣💯
@karenforte1455 You can do it!💯 Don't let nobody try to convince you otherwise because they'll be locked into the mindset of you needing to work & just because you're retired, you may still want to work here & there but the fact that you don't have to makes it feel so much better 😊
I'm working on this goal for me. It's funny people say, what are you doing to do? Those are the people who are programmed to think we're supposed to work until 70. I'm going to live and enjoy having my time back.
Most ppl think they need a lot of things and that is what trips them up. Learning to live below your means before retirement creates a habit that will carry you into retirement.
I remember seeing on TV some financial talking heads saying to "live below your means". At that time I told my wife that if we lived any further below our means we'd be living in a cardboard box.
i retired early at 58..my finances are very good so no problem there..i volunteer just 10 hours a week at the library.. I love retirement and I love your channel
Good stuff! I retired at 41 and my wife retired at 55. We are never board! Thank God money is not an issue. We are looking to live abroad. A second citizenship would be desirable.
I know it is annoying, lol. I keep telling her she needs to bottle up whatever she is doing because she would make trillions, lol. She looks incredible!
You are exactly right it is so expensive here in the United States. My house is paid for my car is paid for and it’s still cost me over 1500 a month to just survive. I’m putting my house up for sale as of today still off everything and I am moving back to Ecuador at age 58 putting my money in a high interest savings account down there and living much cheaper than I can live here in the US and I can’t wait to be there by Christmas. I’m glad you did the same thing and moved to Panama and I’m sorry about your husband.
Great tips! I’m 55 years old and just recently retired early a couple of months ago and I’m enjoying it so far. It’s nice to do whatever I want and go wherever I want. I appreciate your great advice on making sure I have a great budget for myself.
Nicole, I'm retiring in 47 days at 60 1/2 and am claiming the widowers benefit until I can claim my own SS benefit at 67. Since I'm on a state health insurance exchange (as well as my son is still in college) I'm unable to move out of Wisconsin. Stateside, I'm looking at relocating to Southern Alabama in about 4 1/2 years when I qualify for Medicare, as the Yellowhammer State has a much lower cost of living than it's southern neighbor (the Sunshine State) and offers retirees very generous tax incentives (something that seems to fall on deaf ears in my state). I'd be close enough to visit the beaches in the Panhandle (within a 2 hour drive give or take), yet not be in the bullseye of a hurricane every summer (and YES, I'd take 95 degrees with a 105 heat index in the summer over -30 wind chills in the winter). However, if I were to retire overseas my first choice would be the Philippines. Part of it would be the much lower cost of living (as of this posting the exchange would be 56 Philippine Pesos (rounded to the nearest Peso) to the US Dollar, they also have outstanding beaches, and most importantly English is a second official language, hence the lack of a language barrier (not sure how well your Spanish is in Panama). Side note, if one wants to continue working while collecting SS, they are limited to making $22K a year. After that, every $2 over that amount you make, they take $1 away.
Absolutely correct, I haven't been to the Philippines yet but I chose Panama because it's close to my family! Also be sure to file for your survival support 3 months prior to your 60th bday!! Thank you for sharing!!
I enjoyed the video I also retired at 55 October of this year I will be retired 3 years I started traveling before I retired a year after retirement my father he's 80 and was diagnosed with onset dementia so I've been taking care of him and my mom who's 81 and in a wheelchair but does very well for herself they're divorced before that happened I was taking Tai Chi water aerobics regular aerobics Zumba and walking and I know this is temporary and I'm going to get back to my working out and some traveling ❤🙏🏽
@@Gsp_in_NYC I'm scared since I will lose 27% of my pension. I am able to retire next year with full pension. I just don't know if I can take it anymore.
Awesome!!!! I love it!!! I am the same way. I retired at age 53 and now turning 57 and love it!!! I am researching on were to relocate for 6 months. I am interested in Panama City.... Thank you...
I love your videos, very informative. I am a new subscriber and I too was planning on moving out of the US, but unfortunately I was diagnosed with leukemia in 2018 and I haven’t work since. I am taking an online course just to rebrand myself and try to move to another country. I have visited South East Asia and it’s beautiful and very cheap to live there. Like Thailand and Malaysia, plus Thailand healthcare system is very affordable and is very good. My youngest son just started college so now I have to make up (hustle mode) until he’s graduated and can take care of himself. I turned 58 this year. Thanks for explaining your experiences. God Bless🙏
Hi and thank you for the follow!! I am sorry to hear about your condition but also pray that you don't let it stop you from living life abroad!!! There are so many other countries, like the ones you named, that offer more affordable health care than the US. I understand putting off until your youngest gets settled, I had the chance to go to Japan when my daughter was in freshman in college and decided against going that far too!!
HELLO! HELLO Lady of Lace! At least that’s how long I’ve been following you. So very glad to see you again and know at You are doing well. You look extremely happy! I retired early and still live here in the states in the countryside. May God bless you and your family my dear. 🎈💥♥️🌹♥️💃🏽
Thank you so much! Yes, you have been with me for a while!! I haven't been the lady of Lace for about 5 years! I still love my units but a new lifestyle has become my focus. I hope you like the new content!! Congrats on your retirement
For a long time, the idea of achieving long-term financial security has felt out of reach, especially since I started investing later than most. Lately, it feels like ETFs and bonds might be limiting my potential returns rather than simply managing risk
I’m nearing retirement myself, and I had similar concerns. I started investing later than most, and just relying on ETF compounding wasn’t cutting it for me either. After working with a financial advisor, I managed to restructure my investments and am now on track to retire with around $4 million. If I hadn’t sought advice, I doubt I’d be as confident in my plan right now.
I usually steer clear of recommending specific people because financial needs are so personal. But I can say that working with Emily Ava Milligan has made a world of difference for me. I noticed her strategies are tailored to fit personal goals which could make sense for different needs. It might be worth exploring to see if her approach resonates with you
...just turned 58 in June and planning to work another 2 years due to medical insurance. Currently working on business to supplement income as well. I want to be as prepared as possible but not fearful to leave. I been investing more in stocks and doing everything in my means in the natural to make it happen and will allow God to do the supernatural. Thanks for this video!
Just watched your video. I retired this year at age 56. I am looking into moving out of the US. lol I don’t have $1M but I’ve got a great pension and will likely file for SS early. Currently working on paying off all debts. Thank you for this excellent information. Panama is on my short list of possible places to reside
Thank you for sharing this message. I am in the process of entering the semi retirement category. When you talked about tennis 🎾, it so happens that’s my profession as a tennis teaching pro. I am sure your team enjoyed sectionals at the Campus in Orlando. Also I played college tennis on full scholarship three decades ago.
I have been researching retirement lately. I'm 54 and I have been working since I was 18. I have been thinking of retiring and moving to the Philippines, Thailand or Medallion. Your video gives me hope. 😊
I'm 43 and just recently was laid off after 16 years. However, I did retire from the military and have a $9K a month pension with Tricare and VA healthcare. I also have a 401K and personal stocks and personal savings account. I'm seriously thinking about selling my house or renting it out. I'm looking at going somewhere in South America or Thailand, but I feel I still don't have enough money, what passive income opportunities do I have?
Not going back to work. I'm unsure whether to consolidate all my investment accounts into one. If I do, how should I handle it and what should I be aware of? I also plan to sell my property, which could bring in an extra 200K over time. Should I combine everything into one account or spread it out across different investments?
These are key questions for a financial planner. I connected with mine at a summit, and with her help, my wife and I reallocated our 1.7M portfolio between a traditional IRA and brokerage account. She’s been managing the investment with our approval and has helped us recover twice our losses. Currently hodl’ing steady and cautiously navigating the market
Thanks for sharing! - Question: how did you end up choosing Panama vs other Central American countries or yet countries in other continents, like Portugal or Spain in Europe. Or yet, Thailand, Malasia at South East Asia? - Did you compare it with any other country?
I took my Husband's Social security Early and It wasn't Explained to Me That I would only get a small portion and I regret it Every month when That check hits the bank but I learned quickly how to manage my Money
Hi friend! 👋🏽 New subscriber. LOVED this video A++. I just retired early also & Panama is one of the places I'd like to visit as a retirement option. I'll be following your journey. Thanks for sharing. 😊
I'm 55 and just recently was laid off after 16 years. However,I did retire from the military and have a $9K a month pension with Tricare and VA healthcare. I also have a 401K and personal stocks and personal savings account. I'm seriously thinking about selling my house or renting it out. I'm looking at going somewhere in South America or Thailand, but I feel I still don't have enough money, I just got to go for it. I'm single, so it just me holding myself back.
Wow. Trust me it sounds like you have more than enough money to live quite comfortable especially if living abroad!! As the famous quote goes, Just Do It!! Life is for living!! ❤
Hello, I’m new to your channel. I’m a blessed 56 year old with a job that I love. Because I work for a global company, I have many opportunities to travel internationally so at this point I have no plans to retire soon. I’m curious if you visited Panama prior to moving there? Did you already have friends there to help you settle in? If you have this in a previous video, apologies I’m new to your channel. If you wouldn’t mind linking the video I really would appreciate it. And you’re very beautiful it appears Panama is treating you well. Cheers!
Wow, you have the best of both worlds sounds like. A lot of people I know wish their jobs were globally remote. When I first came to Panama, I knew only the ppl I was visiting. But I did come back with my daughter and looked around more before making the decision to move here. Facebook expat groups helped me a lot!!
It's been a joy to hear and listen to your videos.However I do have an important question.I retired early also,and I am a widow.Can I move, and still use my health Insurance in Panama?
Hi and thanks for your comment. Most insurance if they don't specify global or international coverage is only good in the US. If you are on Medicare, it is also only good in the states. I have private international insurance.
If a person relocates to another country how does that work with Medicare ? Does one have to fly back to the states for care bc Medicare isn’t used in another country. Just curious, Anyone?
My question is if you move to Panama how does that work with Medicare? It doesn’t carry over to another country so wouldn’t one have to fly to the states for care?
Hi and thanks for the comment, no 55 is not early to retire for your pension plan but it is for Social Security! Continue to enjoy your retirement life!!
@@theladysplace I've been to Panama a couple of times. Of course, I don't have a complete picture because a few days or weeks can't tell the whole story.
Social security will never run out in our lifetime, Congress will just pass funding bill to support the Social Security trust fund. The US have enough money to fund random countries around the world so funding the Social Security trust will not be a problem.
@@theladysplacemaybe you can explain to people that social security isn’t going to run out as long as there are people working in the United States. What IS going to run out (in the extremely unlikely event that absolutely nothing is done to address the upcoming shortfall), is the Social Security “trust fund,” which was an extra pot of money set aside for when the baby boomers retired. Because income inequality is so much worse than it used to be, a lot of people don’t pay FICA taxes on the majority of their income, which is part of the reason for the shortfall. Raising the cap so that people who make $500k/yr pay FICA on all of it would solve the problem.
Logon to the social security portal it will give you your estimated payout. It depends on how many years you work and your salary. Everyone's number is going to be different.
@@theladysplace If so what attracted you to retire in Panama, I live in Modesto, California and I planning to retire next year at the age of 65, are you renting the apartment or you bought it and also the cost of living?
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I has spent same number of years in the civil service, she is investing through a wealth manager and myself through the 401k. We both still earning towards having our retirement.
This is true. I'm in my mid 40's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $800,000 by investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I am planning to retire at 56 years old! I've been working since the age of 17...and I don't want to work going into my 60's🙅🏾♀️ at least not full-time! I want to travel..enjoy life on my time! Yes, we are programmed to work until the grave is calling🤨 but that's not how it should be! It's a time to relax and enjoy life🥰 Great Video❤
You can do it! Thx for sharing!!
Im with you. Planning to exit at 55 - as soon as these kids are done with college.
I also want to retire at 56, which is now. I started working at 17 when I joined the Navy. I’ve now been in Corporate America for more then 20 years. I’m so ready to go and venture into my next act, which I pray is traveling, writing and enjoying life on my own terms.
@@karenforte1455 Right! I was also in The Navy at 17 years old! I have been working since! I just turned 53 this month and I am so ready to enjoy being on my own time...and on my own terms❣💯
@karenforte1455 You can do it!💯 Don't let nobody try to convince you otherwise because they'll be locked into the mindset of you needing to work & just because you're retired, you may still want to work here & there but the fact that you don't have to makes it feel so much better 😊
I'm working on this goal for me. It's funny people say, what are you doing to do?
Those are the people who are programmed to think we're supposed to work until 70.
I'm going to live and enjoy having my time back.
I just turned 50 and working to retire in five years. It’s a must goal!!
Most ppl think they need a lot of things and that is what trips them up. Learning to live below your means before retirement creates a habit that will carry you into retirement.
Exactly, we have been condition yo accumulate stuff that doesn't hold value in the end!
I remember seeing on TV some financial talking heads saying to "live below your means". At that time I told my wife that if we lived any further below our means we'd be living in a cardboard box.
i retired early at 58..my finances are very good so no problem there..i volunteer just 10 hours a week at the library.. I love retirement and I love your channel
That is awesome! Hey it's good to hear from you!!
Good stuff! I retired at 41 and my wife retired at 55. We are never board! Thank God money is not an issue. We are looking to live abroad. A second citizenship would be desirable.
Awesome, enjoy life and retirement!
@@theladysplace Thanks! Forgot, I'm now 60. I feel like 41!💪
Lol how is this woman 62? She literally looks barley 35 🤣
I know it is annoying, lol. I keep telling her she needs to bottle up whatever she is doing because she would make trillions, lol. She looks incredible!
This is how 62 is suppose to look. The others are doing it ALL wrong.
You are exactly right it is so expensive here in the United States. My house is paid for my car is paid for and it’s still cost me over 1500 a month to just survive. I’m putting my house up for sale as of today still off everything and I am moving back to Ecuador at age 58 putting my money in a high interest savings account down there and living much cheaper than I can live here in the US and I can’t wait to be there by Christmas. I’m glad you did the same thing and moved to Panama and I’m sorry about your husband.
Great tips! I’m 55 years old and just recently retired early a couple of months ago and I’m enjoying it so far. It’s nice to do whatever I want and go wherever I want. I appreciate your great advice on making sure I have a great budget for myself.
Fantastic! I hope it continues to be all you deserve for your years of servitude.
Nicole, I'm retiring in 47 days at 60 1/2 and am claiming the widowers benefit until I can claim my own SS benefit at 67. Since I'm on a state health insurance exchange (as well as my son is still in college) I'm unable to move out of Wisconsin. Stateside, I'm looking at relocating to Southern Alabama in about 4 1/2 years when I qualify for Medicare, as the Yellowhammer State has a much lower cost of living than it's southern neighbor (the Sunshine State) and offers retirees very generous tax incentives (something that seems to fall on deaf ears in my state). I'd be close enough to visit the beaches in the Panhandle (within a 2 hour drive give or take), yet not be in the bullseye of a hurricane every summer (and YES, I'd take 95 degrees with a 105 heat index in the summer over -30 wind chills in the winter).
However, if I were to retire overseas my first choice would be the Philippines. Part of it would be the much lower cost of living (as of this posting the exchange would be 56 Philippine Pesos (rounded to the nearest Peso) to the US Dollar, they also have outstanding beaches, and most importantly English is a second official language, hence the lack of a language barrier (not sure how well your Spanish is in Panama).
Side note, if one wants to continue working while collecting SS, they are limited to making $22K a year. After that, every $2 over that amount you make, they take $1 away.
Absolutely correct, I haven't been to the Philippines yet but I chose Panama because it's close to my family! Also be sure to file for your survival support 3 months prior to your 60th bday!! Thank you for sharing!!
"Bless you, sister, for enlightening us."
She looks just like my morkie
Thank you for this post! I am literally running the numbers to Retire at 58. I've been to Panama years ago! Wow, it has really changed!! Love it!
Hope to meet you here soon!!
I enjoyed the video I also retired at 55 October of this year I will be retired 3 years I started traveling before I retired a year after retirement my father he's 80 and was diagnosed with onset dementia so I've been taking care of him and my mom who's 81 and in a wheelchair but does very well for herself they're divorced before that happened I was taking Tai Chi water aerobics regular aerobics Zumba and walking and I know this is temporary and I'm going to get back to my working out and some traveling ❤🙏🏽
You look amazing!!! All the best in your retirement
Thank you!!
First time on your channel. I enjoyed it. I too turned 62 this year. Looking to retire in 3 years. Thank you for the tips.
Thank you for watching and leaving a comment! Hope it helps in your retirement planning.
thank you...53 here and about to early retire. very informative. I am soaking up info from all sources now!
You got this!
oh my God!, I'm also 52 live in NYC and thinking of retiring early.
@@beatricerights do it! 😁
@@Gsp_in_NYC I'm scared since I will lose 27% of my pension. I am able to retire next year with full pension. I just don't know if I can take it anymore.
You go girl! I love that you just went for it, God bless you 🙏🏽
Thank you so much!!
Awesome!!!! I love it!!! I am the same way. I retired at age 53 and now turning 57 and love it!!! I am researching on were to relocate for 6 months. I am interested in Panama City.... Thank you...
Good luck!! Let me know if I can be of assistance if you come to Panama!
@@theladysplace Okay, thank you
I love your videos, very informative. I am a new subscriber and I too was planning on moving out of the US, but unfortunately I was diagnosed with leukemia in 2018 and I haven’t work since. I am taking an online course just to rebrand myself and try to move to another country. I have visited South East Asia and it’s beautiful and very cheap to live there. Like Thailand and Malaysia, plus Thailand healthcare system is very affordable and is very good. My youngest son just started college so now I have to make up (hustle mode) until he’s graduated and can take care of himself. I turned 58 this year. Thanks for explaining your experiences. God Bless🙏
Hi and thank you for the follow!! I am sorry to hear about your condition but also pray that you don't let it stop you from living life abroad!!! There are so many other countries, like the ones you named, that offer more affordable health care than the US. I understand putting off until your youngest gets settled, I had the chance to go to Japan when my daughter was in freshman in college and decided against going that far too!!
I'm new here. Your video came in my feed and I decided to watch. I like your channel. I will watch again.
Awesome! Thank you!
HELLO! HELLO Lady of Lace! At least that’s how long I’ve been following you. So very glad to see you again and know at You are doing well. You look extremely happy! I retired early and still live here in the states in the countryside. May God bless you and your family my dear. 🎈💥♥️🌹♥️💃🏽
Thank you so much! Yes, you have been with me for a while!! I haven't been the lady of Lace for about 5 years! I still love my units but a new lifestyle has become my focus. I hope you like the new content!! Congrats on your retirement
@@theladysplace Thank you! I’m gonna stay tuned to your channel. Take good care and be safe Sis!🎈💖🎈
Thanks for the retirement advice watching from Columbus Ohio and yes we can’t live with social security check life is expensive in America!!!
For a long time, the idea of achieving long-term financial security has felt out of reach, especially since I started investing later than most. Lately, it feels like ETFs and bonds might be limiting my potential returns rather than simply managing risk
I’m nearing retirement myself, and I had similar concerns. I started investing later than most, and just relying on ETF compounding wasn’t cutting it for me either. After working with a financial advisor, I managed to restructure my investments and am now on track to retire with around $4 million. If I hadn’t sought advice, I doubt I’d be as confident in my plan right now.
I’m trying to figure out the best approach for my portfolio. How did you find your advisor? I feel like I need that kind of guidance
I usually steer clear of recommending specific people because financial needs are so personal. But I can say that working with Emily Ava Milligan has made a world of difference for me. I noticed her strategies are tailored to fit personal goals which could make sense for different needs. It might be worth exploring to see if her approach resonates with you
Thanks for that. I did a quick search and found her page. I was able to email, so I sent over a few questions to get more info. Appreciate you sharing
Thank for your financial planning i am 74 retired at 61 no regrets enjoying every minute living my last days the best blessings
Thank you for sharing your story!!! Truly inspiring and helpful in making good choices in retirement!🙏👍
...just turned 58 in June and planning to work another 2 years due to medical insurance. Currently working on business to supplement income as well. I want to be as prepared as possible but not fearful to leave. I been investing more in stocks and doing everything in my means in the natural to make it happen and will allow God to do the supernatural. Thanks for this video!
Just watched your video. I retired this year at age 56. I am looking into moving out of the US. lol I don’t have $1M but I’ve got a great pension and will likely file for SS early. Currently working on paying off all debts. Thank you for this excellent information. Panama is on my short list of possible places to reside
You can do it!
Hi 👋, what a wonderful, informative post. I am 58 in October. I, too, am really considering my options as I grow older. Your info us so helpful
Thank you!! ❤
Thank you for this lovely video; looking forward to your next video!
Thank you so much for watching!!
Thank you, that was very helpful
Glad to hear it!
Appreciate the information …I just subscribed 😊
Thanks for the sub!
Thank you for sharing this message. I am in the process of entering the semi retirement category. When you talked about tennis 🎾, it so happens that’s my profession as a tennis teaching pro. I am sure your team enjoyed sectionals at the Campus in Orlando. Also I played college tennis on full scholarship three decades ago.
Best of luck! I hope your early retirement is all you expect and more!
Hi Thank you so much for this video. It is informative and provides much food for thought !!!
You are so welcome!
I have been researching retirement lately. I'm 54 and I have been working since I was 18. I have been thinking of retiring and moving to the Philippines, Thailand or Medallion. Your video gives me hope. 😊
You can do it! Those are some of the places I hope to tour too!
I'm 43 and just recently was laid off after 16 years. However, I did retire from the military and have a $9K a month pension with Tricare and VA healthcare. I also have a 401K and personal stocks and personal savings account. I'm seriously thinking about selling my house or renting it out. I'm looking at going somewhere in South America or Thailand, but I feel I still don't have enough money, what passive income opportunities do I have?
It makes sense to consider a financial advisor at this stage, but delaying retirement might be a smarter choice
Not going back to work. I'm unsure whether to consolidate all my investment accounts into one. If I do, how should I handle it and what should I be aware of? I also plan to sell my property, which could bring in an extra 200K over time. Should I combine everything into one account or spread it out across different investments?
These are key questions for a financial planner. I connected with mine at a summit, and with her help, my wife and I reallocated our 1.7M portfolio between a traditional IRA and brokerage account. She’s been managing the investment with our approval and has helped us recover twice our losses. Currently hodl’ing steady and cautiously navigating the market
That’s impressive! My portfolio has been struggling. Who is your advisor?
June Renae Matthysse. Look her up online, she's well-known
Thank you. I really enjoyed your segment. I got some planning to do. Lol
Please do! It's very important to have a plan!
Thanks for sharing! - Question: how did you end up choosing Panama vs other Central American countries or yet countries in other continents, like Portugal or Spain in Europe. Or yet, Thailand, Malasia at South East Asia? - Did you compare it with any other country?
Good question! It was the convenience of being close to my family, no exchange currency and the advantages that comes with the pensionado visa!!
Looking good ❤
I took my Husband's Social security Early and It wasn't Explained to Me That I would only get a small portion and I regret it Every month when That check hits the bank but I learned quickly how to manage my Money
OMG you don’t look 62. You look amazing. I came to Panama long time ago. I would like to go back again.
Oh thank you! And I'm sure Panama City has changed quite a bit! I love it here!
Thanks ever so much! Great content 👌
Glad you enjoy it!
Hi friend! 👋🏽 New subscriber. LOVED this video A++. I just retired early also & Panama is one of the places I'd like to visit as a retirement option. I'll be following your journey. Thanks for sharing. 😊
Thx, I love your journey too! I love both casinos and cruises!! Thank you for the follow back!
That's very informative, thank you:).
Glad it was helpful!
Amazing Video
Thank you!!
Hi, I’m glad to have found your channel. Is there an Expat community that you’re apart of living there in Panama? I love your content. Thank you.
Hi and thank you for joining my channel. There are several Facebook expat groups you can join as a prospect Panama resident.
Do you have a video detailing your expenses in Panama City? Rent, food, utilities?
I like your comment, I can do that but my budget is not the most economical way to live here! 😢
@@theladysplaceit’d still be great to see. Thanks
I'm 55 and just recently was laid off after 16 years. However,I did retire from the military and have a $9K a month pension with Tricare and VA healthcare. I also have a 401K and personal stocks and personal savings account. I'm seriously thinking about selling my house or renting it out. I'm looking at going somewhere in South America or Thailand, but I feel I still don't have enough money, I just got to go for it. I'm single, so it just me holding myself back.
Wow. Trust me it sounds like you have more than enough money to live quite comfortable especially if living abroad!! As the famous quote goes, Just Do It!! Life is for living!! ❤
$9k a month in military pension after 21 years of service?
@@chiefeng4451 I was also counting my VA 100% P&T with SMC.
Hello, I’m new to your channel. I’m a blessed 56 year old with a job that I love. Because I work for a global company, I have many opportunities to travel internationally so at this point I have no plans to retire soon. I’m curious if you visited Panama prior to moving there? Did you already have friends there to help you settle in? If you have this in a previous video, apologies I’m new to your channel. If you wouldn’t mind linking the video I really would appreciate it. And you’re very beautiful it appears Panama is treating you well. Cheers!
Wow, you have the best of both worlds sounds like. A lot of people I know wish their jobs were globally remote. When I first came to Panama, I knew only the ppl I was visiting. But I did come back with my daughter and looked around more before making the decision to move here. Facebook expat groups helped me a lot!!
Definitely 👍🏽 like the content well explained
Thank you!❤
Very informative! Thank you!
You are so welcome!
Great video, thanks for posting. I’m interested in Panama City. What’s a ballpark amount for rent in your area?
Depends on your budget but a two bedroom on Avenida Balboa can rent for 1400 unfurnished to 2800 furnished!
ua-cam.com/video/yEaqKRIz9Ro/v-deo.htmlsi=2qdMH2YmRu6WDYpq
@@theladysplaceis that USD?
@@noreenn6976 yes
Would you mind sharing the app you use to help with budgeting
Hi, thx for asking. I use my ally bank account they have the buckets I talked about. But also Mint is a good free one to get started with.
It's been a joy to hear and listen to your videos.However I do have an important question.I retired early also,and I am a widow.Can I move, and still use my health Insurance in Panama?
Hi and thanks for your comment. Most insurance if they don't specify global or international coverage is only good in the US. If you are on Medicare, it is also only good in the states. I have private international insurance.
That is awesome
If a person relocates to another country how does that work with Medicare ? Does one have to fly back to the states for care bc Medicare isn’t used in another country. Just curious, Anyone?
Great question and unfortunately the answer is yes you will have to return to the states for treatment.
God willing next year will be 65 that it
Thanks for sharing. Did you come back to the states for surgery or had it done in Panama?
If I had come back to the states it would have cost over $300k just for the stents alone!
@@theladysplace yes for sure, glad to see you’re well
The biggest thing in my opinion is the medical benefits. If you have to pay until you're eligible for medicare, this can cost a fortune.
And it does especially if you have pre-existing conditions like me!😢
My question is if you move to Panama how does that work with Medicare? It doesn’t carry over to another country so wouldn’t one have to fly to the states for care?
❤
55 isn’t early retirement, at least at my job it wasn’t. I got a full pension and medical benefits at 55 when I retired. Haven’t worked a day since.
Hi and thanks for the comment, no 55 is not early to retire for your pension plan but it is for Social Security! Continue to enjoy your retirement life!!
How has the rainfall been, asking for that wonderfall canal. Hoping for more rain
It's raining as I speak, we have had a lot of rain not sure it's enough for the canal though!
I've been wondering what the Panama retirement life looks like.
It's lovely
@@theladysplace I've been to Panama a couple of times. Of course, I don't have a complete picture because a few days or weeks can't tell the whole story.
Some of us we will work until we no longer can speak or walk.
Lol, so true
Wow thanks
Thank you too
Great video. What’s your plan in ten years when social security supposedly will run out? There’s a topic for another video for you! 😉
Thanks for the idea! You are so right
Il get started on it.
@@theladysplace - Does the guest bedroom bath look the same as the master bedroom’s bathroom?
Social security will never run out in our lifetime, Congress will just pass funding bill to support the Social Security trust fund. The US have enough money to fund random countries around the world so funding the Social Security trust will not be a problem.
@@theladysplacemaybe you can explain to people that social security isn’t going to run out as long as there are people working in the United States. What IS going to run out (in the extremely unlikely event that absolutely nothing is done to address the upcoming shortfall), is the Social Security “trust fund,” which was an extra pot of money set aside for when the baby boomers retired. Because income inequality is so much worse than it used to be, a lot of people don’t pay FICA taxes on the majority of their income, which is part of the reason for the shortfall. Raising the cap so that people who make $500k/yr pay FICA on all of it would solve the problem.
Take SS asap. Use it or lose it! 😮
If you retired on early retirement while collecting your husband's social security as his widow, did they cut your benefit by 30%?
Yes, any early retirement benefits gets a reduction.
@@theladysplace
Okay...loving your channel.
Enjoy your retirement in Panama...Stay healthy
You are a beautiful lady in t side out, ❤️
Thank you!!
What would be my social security at 62 if i retire at 45?( years of work)
Depends on your salary as well as years of contributing into the program. Noone has the same amount.
@@theladysplace 25 years of working and annually income is between 30k-35k. Just curious what would be at my social security at 62. Thanks
Logon to the social security portal it will give you your estimated payout. It depends on how many years you work and your salary. Everyone's number is going to be different.
It must also be noted that it will just be an estimate since it expects you to work until you are of retirement age.
@@deserterunknown8523
Were your parent from Panama?
No, no family ties here!
@@theladysplace If so what attracted you to retire in Panama, I live in Modesto, California and I planning to retire next year at the age of 65, are you renting the apartment or you bought it and also the cost of living?
That means working 1/3 of your life...That just sounds weird.
Love your content thank you for sharing!!
You are so welcome! Thx for watching!
Those casinos are rigged. You may win a little, but the house always wins.
You got that right! I'm finding that out the hard way!! Lol
Do have speak spanish Get around The city
No but I'm trying!
Nicole is a cutie!
Gracias
Are you married? ;o)
I'm a widow 😢