How Can You Retire On $300K / Is It Possible?
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- Опубліковано 27 лип 2024
- What would your monthly income be retiring with a $300,000 retirement nest egg. We break down the numbers to find out if it is even possible to retire with a $300K retirement fund.
We have some suggestions and numbers that are real world examples, how to make your investments go further. Having lived for seven years on a frugal budget we know how challenging living on a small income is. Join us for how can you retire on $300K to see if it is possible.
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Hello from Lewes, Delaware USA 🇺🇸
It’s great to be retired with no worries, other than maintaining good health and investing wisely. You two, Tina & Norm, are such a pleasant couple to listen to. Thank you for sharing your advice today.
Heh Eric, So good to hear from you on this Saturday and thank you for your encouragement. Have a great weekend and keep healthy!
Yes you can. I know an older gentleman who had to rebuild his retirement after his wife died. He became debt free. He retired with $70,000, yes $70,000 dollars. He got $1,600 a month Social Security. Lived very frugal for 4 years. Turned that $70,000 in to $165,000 by taking a few risk with half his $70,000. He rents an apartment outside the city, but near hospitals, doctors offices and shopping for $800 a month. Bought a Honda CR-V for cash with low mileage, by the way super cheap insurance etc. He has a lot of free hobbies or hobbies with the cost of starting and not much afterwards. He travels with friends, church and other groups when the cost is reasonable. He actually puts money into his savings every month. You just have to be creative. You can live a wonderful fun retirement as long as you know how to limit your spending. Create a lifestyle that keeps you busy that cost you very little. That will allow for those splurges of and on as well.. Don't forget there's plenty of work that's not labor intensive or stressful. Many seniors can get work with as little as 10 hours a week at very fulfilling jobs such as museum's, festivals, art galleries etc. It's not work when you're having fun. Make an extra $150 here and there and life is a ok... Great video guys. Have a great weekend 🍻
Another wonderful comment, thank you sharing this. Most things are possible if you are willing to compromise or change a little. It's always great to hear from you have a great week ahead.
LOVE this, Keep It Mowed! Great to hear happy success stories with smart thinking!
Very encouraging post, thank you. I'm in the Chicago area and my biggest expense is property taxes, I'll be 64 this year self employed carpenter. I think it'll be a skinny retirement but doable.
Wow. That’s a great story! Goes to show you living a frugal but happy life is ok.
@@kwaichangcaine8234 consider moving to a lower cost state or rent a room in your current home to offset expenses. Many seniors would enjoy living with other seniors. I may consider renting a room to travel nurses to offset expenses. I live near 5 hospitals within a 15 minute drive.
Wonderful couple that always provide good ideas ,while sharing their experiences ,as they journey through retirement
Our pleasure!🙂
I started SS at 62 last year. $2143.00 per month. I do just fine. Some months I spend a little of my savings. Not much. Save early and get out early. Work sucks.
Couldn’t agree more Peter stop work retire as soon as you can Cheers 🍷🇺🇸🇨🇦😎
There's a reason for that mythical million dollar figure. The more you save and invest, the more financial advisors can collect in fees.
Isn’t that the truth Norman have a good weekend Cheers 🍷🌺😎
There's absolutely some truth in this.
A friend of mine who used to be a financial advisor often told me that an evening 1hr visit to the right home of people ready to invest would net him an easy £2-3k & he would sit in his car afterwards rubbing his hands together with glee.
After many years, he saw the error of his greed & trained to be a male nurse 😀
I've said many times to him...oh, you've gone from robbing people to saving people.
He laughs 😃
You guys are my favourite financial/retirement you tubers. Not only are you continuously generous with how transparent you are with your finances, which is rare to nonexistent but you're also my Canandian neighbours and your Canadian content is also hard to find ! Plus you're likeable and easy to watch. Thanks again for sharing your time and experiences with us, much appreciated. Cheers
Thanks for your kind words and lovely comment we are so glad you enjoy our videos Cheers 🍷🇺🇸🇨🇦😎
I agree with many of the comments here -you two are real blessing. Keep up the thoughtful, informative, kind and honest You-Tube clips!
Thank you so much!
FINALLY…a retirement You Tube channel with realistic financial realities. Many say it’s a million $ to retire but it’s really a lie. You are living proof that it’s doable to retire fully on a realistic net worth. Thanks for being open with your financial situation with us…it give many of us hope.
Thank RC for your kind words we are glad you like our videos have a wonderful weekend Cheers 🍷🌺😎
Perfect advice. Exactly what I'm doing. 4 months until the house is paid off. No other debt. 6 months to Medicare eligibility! Retirement's in 10 months 🙂
Wonderful Kate, congratulations on your efforts. Enjoy your weekend 😀😀
Awesome! Congrats 👏 👏 👏. Wishing you all the best in your second half of life!
Party on Garth! Quite the t-shirt collection. 😎 Great information! Hope you both have a beautiful weekend! 🦋
Thanks so much! have a great weekend Joyce too Cheers 🍷🌺😎
Great topic. And I think your advice is spot on. Too many professionals seem to scare us into thinking we must have a million to retire. Thanks again Tina and Norm. Keep on Rockin' on. ;)
Thanks Jo it’s a shame people think they need so much money 💰have a great weekend Cheers 🍷🌺🍷
Thank you from the bottom of my heart. I really needed to hear this video today, much love and health to you both.
Glad you enjoyed it Cynthia have a wonderful weekend Cheers 🍷🌺😎
Love your channel. Glad to know that I am on the right track. I am 55 and my wife is 56 from Burlington ON.
I am looking forward to your video tomorrow 😊. We all have to make up our own minds and judge our own circumstances and opportunities. I appreciate you sharing yours.
Thanks so much Rusty glad you enjoy them see you Saturday Cheers 🍷🌺😎
@@ThisIsOurRetirement 🤗 😊👍
thank you for being honest. It gives me a lot of hope.
I'm so glad!
You guys are so helpful and lovely. Thanks for doing your videos and letting us feel more secure in our planning.
Our pleasure! glad you are enjoying them Virginia Cheers 🌺🙂
We retired in Michigan on $250,000. It has not been easy as we are also still paying off a $900.00 mortgage and a HOA fee with $5,000 a year in property taxes. Those of us in second marriage at mid-life are not able to be mortgage free in retirement. Our financial advisor recommends TWO YEARS OF LIVING EXPENSES in cash. That way we do not have to take money out of our investments during a down cycle or bad inflation. This has worked for us. My husband still works 3 days a week about $1,500 a month to help with the mortgage payments and the property taxes. We need $5,000 a month to live comfortably and poay out of pocket for our medical expenses - no traveling - one paid off older vehicle .
You are right Donna it is difficult setting up another home second time and making ends meet. We adopted a frugal lifestyle for everyday and just splash out on travel (not for the last 3 years), good luck we wish you both well.
Great show!! lots of helpful useful information !! Thank you for your insights! 👩🎤
You two are the best! Please keep doing what you're doing. Us "little people" out here really appreciate it.
Thanks so much glad you enjoy them Cheers 🍷🌺😎
Thank you, I appreciated this. You set a good example.
Glad you enjoyed it Eric!
Recently, a retirement calculator told me I needed over $4 Million to retire! Needless to say most of these calculators are complete and utter BS designed for the investment advisory community to profit and not for actual working people planning retirement. Videos like this are a nice reminder that retirement is attainable without anything close to these kinds of numbers.
We totally agree Matt glad you enjoyed the video Cheers 🍷🌺🍺
🥳🥳🥳 Thanks for this info! That's spared me several years of struggle 💝
You are so welcome! 💕😀😀
Great inputs/info. Thank you both. Hope you have more videos similar to this in the future.
That's the plan! we love doing them have a wonderful weekend Cheers 🍷🌺🙂
Norm and Tina, thanks so much for your perspectives on retirement issues. I am going to be retiring 🤞in a couple of years and your videos are a great (and comforting) resource for the transition into the next phase.
Keep it going, and know that you both are impacted thousands of lives with your content. Thanks again!
Our pleasure Dave we are so glad you find our videos helpful have a wonderful weekend Cheers 🍷🌺😎
Agreed
👋 from Knoxville TN. You two are adorable. Being retired, I love hearing your tips and advice! Keep them coming!
Thanks so much Beverly we really appreciate your kind words.
Another Saturday Another Nice Video. You are right being Debt free is a big key going into Retirement. Be safe.
Thanks so much Marlon have a great weekend!
Brilliant weekly vlogs. x
Thank you Linda 😊
Hi Tina and Norm. Well, after listening to your videos and after 2 long years we finally made it to Albufeira! Sitting by the pool as I write this. Thank you for your information and recommendations. We absolutely love it here!!! We are going to come back and try the winter months next time. Keep up with the great work on providing your thoughts and suggestions on retirement life!!! Love it.
Fantastic Mark, we are so happy for you and thanks for sharing this!
Hey Tina and Norm. Thank you so much for making this video. Before my retirement I watched so many videos that said in no uncertain terms that you had to have a million dollars to retire. This was worrisome because I was never going to have a million dollars. Fortunately, I picked a investment company that showed me I could retire with money that was a lot closer to the figure you showed today. I've been retired for over 2 years now and while I'm not rich, I would say I'm very comfortable. I have a wife that is about to retire and with her CPP and OAS we will still keep trucking along. I always laughed after watching the million dollar videos because I thought to myself, "I'm like the bee who is not supposed to be able to fly, but flies anyway." If anyone needs a second opinion, yes, you can absolutely retire on $300,000 dollars. ( Should I mention that I also have an electric car...and also a second car? YIKES...don't tell the million dollar police.)
We agree Mike yes you can retire on $300K, congrats on the electric car our Campground has just put in an electric charging station which is pretty cool Cheers 🍷🌺😎
I think it’s important for people to be honest with themselves with respect to their expectations in retirement. For us, we retired with no debt but also no defined pension from our employers. We wanted to stay in our home so we needed our investments to provide us with income. 500k gives us 28k per year in dividends which when added to our OAS and CPP gives us enough money to be comfortable and take a few trips a year. For us, it works. Our biggest win was getting out of mutual funds with a “financial advisor” and purchasing dividend paying stocks and ETFs on our own. Thanks for your videos! We look forward to them every Saturday!
Yes we agree when we started buying stocks ourselves we were way better off , love to have you joining us each Saturday Cheers 🍷😎🌺
You may remember that the very first video I saw was' how to retire poor' and after watching that we started our journey into retirement, yes being debt free is the most important part and we are now happily retired with LESS than $300.000, not sure that would have been possible if we had any debt to support but there is so much you can do without spending lots of money and life is pretty good. See you next week x
We are so pleased you are enjoying your retirement and that our videos might have helped you Lynn have a great weekend Cheers 🍷🌺😎
Muchas gracias Tina and Norm! Excellent!!
Thanks so much Garcia 🌺
You guys are both so positive. Thanks !
Our pleasure! enjoy your weekend Barbara Cheers 🍷😎🌺
Be debt free, remain in good health, and stay realistic in one's lifestyle choices: these are the keys to truly enjoying retirement. Trips are the icing on the cake! It is so terrific of you both to share your thoughts and experiences, because it is reassuring for those of us who are nearing retirement and have the typical concerns about going into this next phase of life - the one we've all worked so hard to get to and to enjoy!
I loved Norm's sign-off ... Rock on! 😂 That actually made me chuckle.
Enjoy your weekend (it IS the weekend ... You retirees sometimes lose track!) 😉☺️
Thanks Denise we are so happy to share our retirement travels and we do hope it’s helpful and reassuring. It is difficult sometimes Denise to tell what day of the week it is, everyday is the weekend. 😂😂💕
@@ThisIsOurRetirement 😂
@@ThisIsOurRetirement I sure lost track today. I saw you had videod 8hrs ago and thot it was a 'special' 🤣🤣 then realized OMG it's Saturday. As always loved seeing you two bubbly spring retirees ❤
@@faygallagher8425 We hear you Fay we often forget what day it is as everyday seems like a Saturday Cheers 🌺🍷
Good video. Thank you for sharing your personal experience.
Our pleasure! thanks for watching Judith Cheers 🍷🌺😎
We love your videos! Very informative, and I love your playfulness :)
Thanks so much! 😊
Hi Tina and Norm :) I remember this video ! Thanks for sending me the link :)
Your fan Mary from Toronto, ON CANADA :)
Our pleasure! 🌺
Glad you enjoyed it Mary 👍
Thanks so much for your talks! We are recently retired and currently selling our home so we can move to an apartment. So tired of the maintenance and demands of caring for a home and property. Your advice and candor is really helpful. We find so many friends feel you must have ridiculously large savings and must keep your home to comfortably retire. Looking forward to “less is more” and enjoying life!
You are so welcome! good luck selling your house we love living in our apartment so glad we did this move Carol Cheers 🍷😎🌺
My husband and I are selling our home and planning to rent an apartment, which is much more expensive in the U.S. Like you, our home has been our investment and we will receive a substantial sum. We have spoken with an investment counselor who says we can invest some for the longer term and invest another portion in an account that we can draw from periodically for travel. We will also have a healthy emergency fund. We have chosen a very nice apartment, but we can afford it with our social security and pension. We have no debt. People don’t understand.
What do you say to friend and family who ask… Aren’t you going to waste a lot of money on an apartment? Your large beautiful home is paid for!
Agreed. My monthly estimated budget is about 33,000 year. Great video!
Good stuff!
Great topic Tina/Norm, personal finance is really personal and not everyone needs a fixed amount to retire comfortably. There are many making well over 6 figure salary and “struggling” meanwhile so many families making average Canadian income and living a comfortable and happy life. It’s all depends on how we manage our finances and keep expenses under control is key. We learned to live within our means and it’s working well.
I totally agree that financial institutions and advisors are all fear mongering so people save excessive amount and never get to enjoy what they earned/invested either due to poor health or other reasons.
Anyhow, you are great examples of living with less and enjoy life to the fullest. Thanks for the great video and awareness. Great weather in SO, enjoy and have a great evening.🍻❤️
Great comment SN we totally agree it’s all to do with what you spend as to it being a great retirement, yes weather is great we just had a wonderful week at the trailer in Bruce County Cheers and enjoy your weekend 🍷🌺😎
I am happy to see someone with pretty much exactly the same situation/mindset that I have. Happy to hear it's do-able! I plan on renting in cheaper warmer countries in the winter, and spending summer in my lovely western Canadian city! All the best to you future retirees!
Hi there. I really enjoy your videos. Keep up the great work.
Glad you like them!
Always nice to hear and see you.
You have great tips and explanations.
My wife and I also listen to classic rock.
So rock on Tina and Norm. 👍
Thanks so much Jonas we appreciate your support 🤘
Ok, converting your figures to GBP as I am writing this!
Your figure seem sensible and realistic - and also more achievable!!!
Always love to see what T-shirt u will have on next Norm!! X
Thanks so much Deborah, we have a discount store here that gets these t-shirts regularly for $12 and it has become a bit of fun for us.
I really enjoy your videos. I am 59 and contemplating retiring at 60. Your videos have provided great information on pro's and con's regarding retiring early. My wife is 65 and was a stay at
home mom the past 25 years but is now collecting CPP and OAS. Our focus was paying off debt which we did in 2019 so we are a little late in salting money away for retirement but I believe we are in good shape for me to retire or at least semi retire next year. Your videos have helped provide guidance from your real world experience and I appreciate it.
We are so glad they are helping you Larry we wish you both a great retirement Cheers 🍷🌺😎
Thank you for your suggestions. We are retiring this fall and have found that rents in Southern Ontario have increased substantially by about $500 in the last 2 years so is costing between at least $2100 to $2500 per month. That is a big chunk of the monthly income. Thanks again.
We agree Liv rents have gone up but there are places still available under that you might have to move to a cheaper town we wish you well Cheers 🍷🌺😎
Thank you for another great video! Great topic and timely advice - can’t believe everything you hear from the financial community. Thanks for being a financial “Myth Buster” Keep up the good work! 👍😊
Thanks Anne, we like the idea of myth busting! (we loved that show). Thanks for watching. 😀😀💕
Great title and very intriguing topic! Knowing "your number" is always a juicy topic. I still don't know my magical number, but I'm only semi-retired. Thanks for a very interesting video, as always! Cheers! XX Dara
It is fascinating Dara talking finances and gauging how well you are doing, we making enjoy these videos.
Great video Tina & Norm 🏴 🇨🇦 🍷 🍺
Thanks Rachel glad you enjoyed it have a great week 🍷🏴🌺🇨🇦
Great information
Glad it was helpful!
Thank you for your advice!
Glad it was helpful!
The algorithm brought y'all to my feed. Yall are so sweet. I've subscribed and look forward to the encouraging videos. I'm 47, in the US and starting preparing for retirement 5 years ago. It takes focus and discipline but it can be done. I've downgraded my life a lot bc lifestyle creep will do you in if you're not careful. I've got my money working in the stock market. So those dividends with my pension from work will have me in decent shape when I retire (early) at 55. Also thinking about moving to Mexico to make my dollar go even further. Lovely channel!
Thanks so much Nola, we really appreciate that, you are very welcome here!
AKA The 'Retirement Couple' because you're so kindhearted, a really handsome couple who are BFFs sharing GUUD retirement tips 😀Thank U ....ROCK ON Norm & Tina!
You're the best! have a wonderful weekend Cheers 🍷🌺🎸😎
Hi Norm and Tina: Great shirt Norm! I had an Aerosmith T shirt back in the seventies. Probably saw Aerosmith every decade since the seventies? Being debt free is huge. Just hoping I live long enough to spend the money and we are not rich. So fortunate to have three pensions to pay most expenses. Rock On! Have a great weekend! Cheers
Hi Paul, We love all the music from the seventies, bands were so different and unique from each other, a great time to listen to music! It is a problem we see ourselves in not spending the money quickly enough before becoming mentally or physically exhausted. Thanks for stopping by today, have a great weekend.
Like watching you both so much. Very logical , calming advice for this single 61 year old!
Our pleasure! have a great week Sophia Cheers 🍷🌺😎
Another great video guys!
Glad you enjoyed it! Cheers 🌺🇺🇸🇨🇦
Luv watching u guys.. good vibe, n good content...always
Thank you!
You always have great suggestions
Glad you think so! Cheers 🍷😎🌺
As someone who was raised in Ottawa (birthplace of Giant Tiger) I LOVE to hear other people talk about shopping there!
We we used to go to Walkley Road!
I’ve always said ….” It’s not what you make - it’s what you spend ‼️”
Hmm Andy and let’s just hope you don’t spend more than you make LOL 😂😂Cheers 🍷🌺😎
I loved that you cleared that myth that a million bucks is needed for retirement! Enjoyed this video topic very much!
Glad you enjoyed it! enjoy your weekend Irene Cheers 🍷🌺😎
Hi Tina and Norm. Thank you so much for touching on a topic that I'm sure many people as well as myself have fretted about when trying to make that tough decision about "when can we retire"? There is no shortage of sources telling us that a million dollars is required or the 70% of pre retirement income rule but little to no real testimonials from people who have happily and successfully retired on 300,000 to 400,000. I knew there had to be some out there but couldn't find any. After crunching numbers and tracking our real world spending for a whole year, my wife and I decided we could retire with our 450,000 and zero debt although all the "expert" financial advisors were indicating it wasn't possible. We did retire at 62 so we have to wait a few years to collect our OAS but are collecting CPP now. You are absolutely correct in saying that being debt free is crucial. It really is a matter of determining your goals for retirement. We are not world travelers but we do like the occasional cruise and short trips within our own beautiful Canada and the US. As you mentioned, if you hope to travel extensively, than yes you will need more, but many people are happy to live a stress free retirement at home with friends and family. Love what you both do and thanks again for touching on this subject. I'm sure that you put a lot of peoples fears and doubts to rest as well as ours! Rock on!!
We are so glad you are seeing the potential for yourselves, we did go through some downsizing, two cars to one etc. You should find as your retirement journey continues your willingness to buy stuff starts to wain. Have a great weekend!
That million $$ amount needed to retire was all marketing done by the financial institutions so that they can grab as much money from you as they can. lol.
You did the exact same thing that I did. Tracked everything for one year and looked at the numbers just to make sure.
GREAT SHOW AND A GREAT HELP.KNOWLEDGE IS PRICE LESS.THANK YOU,
Thanks for watching!
Thank you for this information as it relieves some of the stress to save a million dollars which is not realistic for most people. Enjoy the rest of the weekend 😄
Glad it was helpful Kim! 😀😀
Very helpful and inspiring!
Glad you think so!
Loving the tee shirt, Norm!
We love the 70’s and our local discount store sell’s them. Hope you are feeling well.
Bless you both, I pray that me and my husband will endure our Retirement happiness just like you both. simple and healthy and supportive to each other.
Thanks Salma we hope you both have a lovely healthy retirement together Cheers 🌺☕️🍁
I love you both! I just retired a few days ago, and I was working my butt off to make sure my mortage is paid off, credit cards paid off, car paid off, some things done to improve the home, new boiler and hot water heaters paid off, teeth worked on and done, and I now, I only have about $10000 saved, but.... I will be getting social security and a small pension. I have an automatic draw each month to pay my house insurance and taxes, and will have enough to pay all bills, plus buy food, and gas, so I can go on small trips, which is fine for me. It is tight, but, OK. I just couldn't take working with the pressure any longer, wearing mask and shield as a nurse all shift, I am 68 and getting survivors social security, will go to my own in a year when it will be more each month then what I am getting. My last work place told me I can come back anytime part time, and there are lots of options if I need extra money, so I am not worried. I also set things up in case I have a heart attack or something, so my adult children will be able to access everything. I feel like I jumped into another world, and suddenly I can hear and see better.... lol. Thanks for all the wonderful fun you share with us. Love to all!
Thanks for your wonderful service to humanity for all of these years! Hugs and have a wonderful retirement! You are a smart lady 😊!
@@rustykatt3870 Thank you. I am not brilliant...but I get by thanks to help from the Creator and lots of other loving beings 😷😌😍
That’s wonderful Jodie we wish you all the best for a wonderful retirement and thanks for your service in the medical service where over Covid most of us can’t imagine what is was like .
Have a wonderful week and enjoy your new happiness Cheers 🍷🇺🇸🇨🇦🌺
Aerosmith!? You are not only retired, you rock Norm!! I think a lot of information out there on retiring is bogus. Of course a financial advisor is going to tell you that you need a million dollars. That’s more money they can make on you charging an AUM fee. Taking time to run the numbers and thinking things through is the key. Thank you both for a wonderful video. Have a blessed day!
Thanks Mike glad you enjoyed the video Cheers 🍷🎸🍺😎
Thank you. Feel bad as I miss some of your videos. You make so much sense, I wish my partner would agree to implement . Keep it up. Your cool. ha
You are so welcome Pamela have a great weekend Cheers 🍷🌺😎
We just drove past Bruce Springsteen's home a couple weeks ago (well, we drove past the very, very long driveway flanked by security cameras!). If I'd known you wanted a tee, I would've jumped security and raided his dresser.
Perhaps next time 😂🤣
I did it with $300k CDN. Bought a house in Nova Scotia, paid the car off, no debts, and invested the rest in dividend paying shares (9%). Getting OAS and CPP and UK pension. Doing very well now and a decent retirement.
Sounds wonderful great plan Mike we are so happy for you Cheers 🍷🌺🇨🇦😎
9% dividend paying shares? Must not be an 'aristocrat'.
Hmm we were thinking that 5% might be an average in aristocrat , but if Mikes getting 9% that’s great 🌺
As always, a pleasure to watch, I would not have though retirement with $325K was doable. A possible future topic, how to mentor our kids, grand kids in our retirement or thoughts on what actions we can take during our retirement to guide them.
Thanks for the suggestion Clayton have a wonderful weekend Cheers 🍷🌺😎
I saw this a while back
Just saw the guy out of Vancouver BC. Do the same with $250K because you had done this.
Thanks for your videos
Thanks Doug some viewers let us know about it, we appreciate you watching our videos.
I have just found my favorite channel about retirement ❤
You are so welcome! we are glad to have you have a great weekend Ricard Cheers 🌺🍻🙂
@@ThisIsOurRetirement likewise :)
Love your videos.. I put money into a 4-CD ladder. It is money that I don't need right now, so it has worked out pretty well. You are guaranteed your principle plus the interest you make from it. I got a 6 month, 12 month, 18 month and 2 year Brokered CD's. My 6 month one was at 2.6% and matured. I turned it into a 4.9% CD for 2 years. I will turn the others into new CD's when they mature too. No worries about what the stock market is doing too!
Perfect video. I had to retire on 300k, not by choice. But God's been good to me!
That’s great, thanks for watching.
Fellow Canadian here..I absolutely love the two of you! Such great advice for retirees. I’m 52 and was in a car accident in 2020. I’ve developed fibromyalgia as a result. Can’t work anymore so I’m retired early. I’m expecting a large payout from a lawsuit stemming from the motor vehicle accident. Possibly 500k. I’m now positive that this money will provide me with a doable income from now to 65. I’m planning on being debt free and investing the rest. Thank you for doing these videos.
Hello Michelle, we are sorry to hear about your medical issues, we hope you get a good outcome on your insurance claim. Thanks so much for watching our videos we appreciate it.
Again , you 're right on target👏👏👏! 💐
P.S . Living alone in a paid condo( $ 550 , renting my second garage for $175 ) comes to $375 per month 👍😉 Absolutely no debts ,with income of $30.000 I can even afford travelling !!! 😘
Thanks Miriam you have great solutions and making money from your assets, great idea renting your garage. It’s always a pleasure hearing from you each Saturday 😀😀👍💕
Hi Tina & Norm another great video it does show you it’s not out of reach 😊🥂
Christopher Barker
Hello Christopher hope you are having a good weekend 👍
XOXO keep the videos coming!!
Thanks so much Eric Cheers ☕️🍁
It totally depends on your lifestyle! Debt free is the biggest thing we totally agree!
I agree & to be totally debt free well before retirement is what people should be aiming for.
We agree that’s the secret being debt free enjoy your weekend guys Cheers 🍷🇺🇸🇨🇦🌺
Thanks T&N you have put a lot of minds to rest.A lot of us ponder if we will make it in retirement, the truth is you have to practice some common sense.Iearn to spend like our grandparents,we don't need to buy the name brands the latest tv, my last tv I had for 20yrs and took a lot of flack from friends &family because it was not a flat screen.God bless me I don't spend half my monthly income&I live in costly New York this is due mostly to living frugally.God Bless see you next week rock on.
We agree Barbara learning from what your grandparents did is a great way to plan your future not having to keep up with the Jones’s will enable you to enjoy being retired Cheers 🍷🇺🇸🇨🇦😎
I don't have $300K nor did I have it when I retired. I still have a mortgage, (which is very low) but with my pension and ss; I can take care of all of my expenses, even my supplemental health ins, that goes along with my gov. issued Medicare Ins., here in the US, which is needed,
I live in a modest home & area, so I don't have and/or had huge expenses overall. Its funny how you came up with that figure, because that is exactly what I work with, give or take a few dollars more, each year. If I want to go on a 'big' trip, I dip into my retirement savings, if I want to. Great video, as always,
Ms. B. Churchill
Thanks so much Bernaclis for watching yes agree if we want to go on a big trip dip into savings have a great week Cheers 🍷🇺🇸🇨🇦🌺
Thanks Tina & Norm for the video. And huge congrats for 5 million views! In your video I would have liked a little more detail. For example, what dividend stocks do you still like. I know this is strictly your opinion and many want to criticize details. But for me (and the vast majority of your viewers) we really love specifics and we know "your gas mileage my vary" is to be expected. Thanks again!
Good point Andy and in some of our older videos we have listed our holdings. This is what concerns us and keeps our comments general. We are not licenced to give financial advice and we don't know our viewers financial circumstances, so we feel we are walking on a very tight line of being potential caught out.
@@ThisIsOurRetirement I can understand people's wish to get stock recommendations. But knowing what you bought in the past, even last month, is really not that helpful and may even be harmful to your subscribers (i.e. which stocks are a good value changes constantly). I'm glad to see that you keep things general on this front in your videos. There are enough other UA-cam content providers offering stock advice. Keep up the good work.
@@ronpizur2627 Thanks Ron we do try to keep our stories generalized and just sharing ideas enjoy your weekend Cheers 🍷🌺😎
Sound advice as always. We differ slightly in the housing department. We purchased our apartment and have no debts. We are frugal but not miserly. We live well and don't squander - wo do however have out holidays, outings and keep an eye on the outgoings. Splash out occasionally of more expensive food items. Life is good. 👍 🎶 💖 🇳🇿 🙋♀ 🇳🇱
Life is good! We like how you said you were frugal and not miserly, it’s an important distinction. Have a wonderful week 👍😀😀🇨🇦🍻
G’day from Andrew and Monica from Las Vegas
I love the T-shirt Norm
“Rock On”
I watch your channel quite often and live your perspectives on retirement and think you are spot on.
I think sometimes have a smaller sum of money coupled with a pension will go along way in retirement
In the right location. I find that another monthly factor is reducing health care costs.
Retirement to us is the beginning of a new
journey ,full of excitement and everyday you wake up It’s Saturday.
Cheers!
Andrew and Monica
That’s funny you say that we often wake up and don’t know which day it is as every day is Saturday 😂 we totally agree it’s a new chapter in your life and it’s sad so many don’t get to enjoy it have a wonderful week Cheers 🍷🇺🇸🇨🇦😎
Being debt free and living a sensible frugal life is freedom.
Sure is Ann👍
I had to retire in March after 32.5 years from a job that I loved due to some health issues at age 55. I am fortunate to have a decent pension, my house paid for, no debt and I saved fairly decently but would have done better if I had been more aggressive. Medical insurance is staggering. My thing is I haven't been able to travel or do much of anything due to my condition. I recently had surgery and I can tell that it has made a difference. After I fully recover I think that I might do some small trips, maybe a short cruise. After about 6 months I may go back and get a part time job or something because my wife is getting a little tired of me. Also I miss the sense of purpose. It is quite a shock to be a Supervisor, making decisions every day and talking to over a hundred people a day one minute and then the next minute your only decision is whether to go to the grocery store today or tomorrow. You seem to be a delightful couple. Best Wishes for your retirement and I will subscribe to keep up with you.
Thanks so much for sharing your story, we wish you a speedy recovery and hope you get to do some trips. Thanks for watching we appreciate it.
Thank you. I at tnst point right now.
Have fun!
Canada may have more of a social safety net than the US. But, Social Security in the US is dependent on the solvency of that program. Is it realistic to base your financial security on a government program that is running out of funds? Also, what happens if one of both of you gets hurt or sick and needs full time care? Where does that money come from? Also, what about when you get older? The average cost of a room in a nursing home ins the US costs $120,000. Where does that money come from? These are real costs people will need to pay.
There are insurance policies for end of life care. If these costs are known why do half of Americans have no savings for retirement. Social Security is meant to be a supplement to your savings.
That helps alot. Load off my shoulders!
Wonderful have a great weekend Cheers 🍷🌺😎
I’m seeing this the day after you posted, but wanted to tell you thank you. I was seriously confused at why I was seeing numbers of 1 million.
1.5 million dollars.
Neither my parents or in laws had any kind of money like that when they retired. They did have paid off houses. No debt. Social security.
Actually my parents had less than 200k.
I thought I’d be working till I died. Lol.
Glad you enjoyed watching it have a wonderful week Cheers 🍷😎🌺
Thank you so very much. I feel much better about that lack of a million dollars. Thanks again !
Thanks Charlene!
Well that was short and sweet. And perhaps that's all that is required!!
Glad you enjoyed it Jim have a great weekend Cheers 🍷🌺😎
Hello Tina and Norm. I agree that's doable. Your example is great. I would go more with a 12 months savings... Also people should keep some hard cash at Home just in case powers to be decide to freeze bank accounts and ATMs don't work. Another beneficial thing is to open an account with wise and store some money in USD, EUR, GBP and CHF. They will issue a debit card that can be used in various countries. moneycorp founded in London 1979 is also a good company... i have read that opening bank account in another country is also good. Peace ✌️ out! ☮️
Great points Tony! especially having cash for ATM emergencies, like we had with our big blackout from Rogers an internet and cellphone company a few weeks ago. Have a great weekend!
Great advice. I have so many acquaintances in their late 50s who are deeply in debt. I plan on continuing my part time job for one more year with the sole purpose of saving enough for a new car. I don't want the payments. In the spring, I'll evaluate to see if I can purchase new or gently used.
We went with a two year old ex rental car, nearly half price to a new one. No problems so far. Good luck.
It's a lot more difficult to live on $37K per year when rents are sky high and it takes up $33K of that total. Lots of people were not as lucky as you were and had to pay probably twice as much as you for rent. It's just ridiculous these days.
It is getting difficult not only for rents but house buying too, lets hope there is some form of reset.
Hello Tina and Norm, Great videos. You have inspired us to consider winter in Albufeira in the Algarve. Hotel Luna Solaqua looks great but if it is unavailable do you have a few more hotel suggestions for a newbie. Also, Tina, any advice on what to pack for extended stay. Thanks for all your great tips.
We haven’t stayed in other Albufeira hotels, we believe the Sol agua is closed for this winter.
My first concert I went to was Janis Joplin in 1970. I got to go back stage, she hugged and kissed me and gave me an autograph which I still have to this day. Your T Shirt collection reminded me of that.
What wonderful memories thanks for sharing Cheers 🌺🎸🍷