I love this idea of framing retirement around time instead of money. Of course, money is important, but it is so important to think about the 'active' time you have left, as you get older. I use to be overweight and in poor health, but at age 50 I finally decided that I didn't want to decline into an early grave like my parents did. So I started working hard on improving my health. In the last 3 years I lost 70 pounds, corrected my blood pressure, corrected my cholesterol and achieved the very best overall health of my entire life. I feel like a new man! Now, I am looking forward to retirement with a level of excitement that I didn't have before. I know I'll never be rich, but I am working hard to achieve a very comfortable retirement, hopefully beginning at age 62. I want to travel extensively throughout my 70s and now I believe I'll be able to.
Excellent content, Eric. I am in my 70's and healthy. As we get older we are spending more and more money on the travel that we enjoy so much. Remember retirees, this is not a dress rehearsal. This is the main event.
This video is timely. It smacked me in the face this week when a 90 year old cousin in the hospital recovering from covid was told that she needed to sell into her two houses and go into a nursing home. Why? Because she is single, requires a walker, has macular degeneration, is losing her hearing, and was told she wasn't safe to live by herself anymore. Even assisted living is not considered an option. Why was this a smack in my face? Because I had considered her to be relatively healthy, albeit with some challenges that I considered temporary. Fast forward past the pandemic during which I had not seen her and this outcome is a shock. It is like you note early on: we all realize that there will be a decline in our health as we age, but we push off thinking about our "slow go" years, telling ourselves that it is some day in the (far) future. The reality of that day just smacked me in the face even though I am 65 through my cousin. This video just reinforces these thoughts. I ordered the book.
I concur! Good job presenting what's the most important thing... HEALTH IS WEALTH... IF YOU'RE HEALTHY, YOU'RE WEALTHY. I would rather be healthy and have enough money for my needs... than Wealthy with more money for luxury but sickly that stays in bed all day. 😊
Retired 8 years ago at age 54. Immediately started 4% withdrawals of 401k, upped it to 7%, now thinking maybe 10%. Spend my money while I still can GoGo, before I hit Slo Go.
This video finally brings health to the forefront of retirement which I think is overlooked by many financial planners. Hard to believe, but we have people 60+ years old in our office who still smoke. Most are fat, or beyond. Doesn't matter how much money they have in their 401k when they retire. Sad.
Nice of you to share this with those approaching retirement… it’s never too late to get off your buttocks and get into shape! Hopefully my VO2 Max of near fifty in my sixties pays off!
That (4) chart and lecture was brilliant. The less time you have, the higher the value for the time you have left. Tied remaining years of life to non-renewable resource and supply and demand.
Well said! My wife and I, ages 67 and 70, leave tomorrow for a 5 1/2-month trip to Europe. We are planning to undertake at least 5 backpacking segments, each lasting between 10 days and 6 weeks. We couldn't have done this trip 30 years ago, but not due to lack of money or health. Without the Internet and the World Wide Web, we could never have researched all the options and booked flights, trains, and hotels. We'd have wasted far too much time trying to arrange everything locally. Technology to the rescue! Does it matter that we walk a bit slower now? Only to the extent that we might have to carry more water and more food. That, alone, is incentive enough not to slow down but when we do start to slow down, we'll look for different trips with shorter distances to cover each day. I think that's a good plan 🙂
@kenlewis2253 The information overload, as you call it, in part has led to a large increase in the number of people recreating outdoors. However, several of the backpacks we did, e.g., the Primorska Planinarska Transverzala, aren't covered in any guidebooks. I therefore stand by my original statement that these would have been impossible for us to do pre-WWW.
Great overview with some excellent points! Closing in on 70 - Garmin estimates my VO2 max is that of a 35 year old. One of my school friends is even fitter. No magic - just steady exercise. 💪 (I actually worry about the average 35 year old today...)
Great to see you Mention Peter Attia and his book. I've been a fan of his for awhile and truly believe in a lot of what he discusses on his podcasts and in his book. I'm a 56yo outdoor enthusiast and have always strived for a work/life balance and am currently considering semi-retirement. My priorities have always been sleep, exercise, nutrition and work/finances...in that order. Nothing is ever a given, but I feel quite prepared for my next stages of life. Between your channel at Peter Attia's podcast, a feel like I have a great blueprint that supplements both major aspects of my life. Thanks!
Great video. Thanks for the book recommendation. Here's one back at you, David Sinclair's: Lifespan: Why We Age -- And Why We Don't Have To. Also find his interviews on UA-cam. They literally reversed aging in lab mice. A couple near facts/strong trends: many/most oldsters who fall breaking a hip or pelvis pass within 6 months; old diabetics outlive old non-diabetics; shorter folks tend to live longer than tall folks.
I think his info is out of date. A broken hip isn't a death sentence. Most likely scenario is that you'll get a hip replacement and be lying in bed getting narcotics and going to physical therapy for a couple weeks, then outpatient PT for awhile. Not that it's easy, there can be complications such as wound infection. Another thing everyone keeps saying is that fat people heal from surgery faster than skinny ones. That's not exactly true. Someone who under eats is going to have a hard time getting the protein they need for wound healing. Fat has very little vascularity so incisions heal poorly and sometimes dehisce ( pop open). A muscular, athletic body is going to heal faster.
Thanks Eric. Another excellent video. I highly recommended your channel, to a friend recently. (I discovered and then subscribed to your channel a few weeks ago.) I'm 65 and retired from my corporate job of 33 years, ten years ago. I was very active physically the first 7-8 years in retirement (hiked a 14ker; did a one week bicycle tour through SW Colorado-which was over 400 miles; trained for and did a few sprint triathlons, during 2 different summers; ran a local 5 mile race a few years ago-on the 4th of July; snow skied a lot).....My best advice to active seniors is to be aware of and careful of your joints (knees & hips for me, especially). You can physical therapy your way out of most muscle and tendon injuries, but your joints are more fickle. Don't over do it. Discretion is the better part of valor...I've gotten away from running and am doing more walking now. Looking into finding a personal trainer for seniors, who can help me get started with resistance training, using bands instead of weights-b/c I've heard bands are easier on your joints than dumbbells and weights.
John, thank you for sharing our channel! Great advice on not overdoing it. I'm obviously a lot younger and haven't lived the degradation that aging can be. However, I used to be primarily an endurance exerciser and noticed similar issues with hips and joints even at a younger age. Since I've developed a more holistic approach that balances strength, mobility and endurance. Never felt stronger and haven't had injury/setback in years. Just my $0.02/experience. Resistance training can be fantastic as a weight alternative as well!
Very powerful stuff. I'm 52 and a couple of those graphs really brought home just how little time I have and how much I still have to achieve. Thank you
Great video Eric! A unique and different spin on many factors many are aware of but never looked at in this way. Very effective and important IMO. Thanks for sharing this info and your insights. Larry Oman
A van down by the river actually sounds pretty good, as long as it is accompanied with fresh fish, a nice bottle of wine and going back home after the right amount of time.
This is outstanding. I couldn’t agree more. Each of these points is so true. Thanks for sharing your thoughts. I can tell you put a lot of effort into your work. Much appreciated. This video made my day!
This is SO TRUE! I am 61, about to Retire🎉 I am still but used to be SO Active! I did 2 1 week long bicycle tours or 2 Week-long backpacking trips each year? Cov>d messed that up! Now that things are opening up again I have lost alot of fitness and will not be as easy to do it again?
I love your common-sense videos. I see that your management is for portfolios over 500K. Some of us have had too many setbacks to have that much in retirement. Can you please direct those of us who have between 100K and 500K in retirement accounts or investable assets: refer us to someone who can help us make the wisest choices? Thank you!!
Sounds like you're borrowing not just from Attia, but #1 from Tim Urban (WaitButWhy), and #3 Bill Perkins (Die With Zero). And those are the only ones that jumped out at me. Nothing wrong with repeating good ideas, but a mention of the source would be nice, not only to give credit, but also to let people dig into the idea some more if they want to.
Enjoyment of travel diminishes with age not just because of the physical issues of an aging body. When younger one assimilates to street culture more easily as it is dominated by youth; one is more tolerant of less comfortable travel conditions including poor mattresses and harsh bus rides making travel more diverse and cheap; experiences help shape one’s sense of self for the best years of one’s lives; Travelers and locals alike are more interested in interacting with you providing experiences like invites to stay in people’s homes and offers to partner up with fellow travelers for adventures. Also, traveling before prices increase in developing countries provide you with a huge cost savings. Why save up fifty years to travel around the world at 2023 prices when you could’ve traveled in 1973, 1983, or 1993 prices? The same applies moving forward. In 1993, one could travel for a month in a developing Asian country for $100. Now that number would be closer to $1500.
For a Single Parent trying to make ends meet raising a family with 2 kids decades ago a Solid Financial Planning and Retirement Plan to withstand Markets Ups and Downs was a far fetched dream. Now just have been realizing that it's sadly too late to spend time with kids, as 16 hour work days sucked out the time away from being with kids as they were growing with babysitters, and then teachers and then college professors... This makes me cry, as I just realized how often working for a corporation for earlier and Best Part of our Life based on Dr. Peter Attia Book "Outlive" curve shown in this video, it's just our Trade Off Exchanging most Precious Part of our life when we are still healthy and can enjoy traveling and doing thing we love with our young growing kids, and yet our Bosses and Work don't allow for half an our of lunch break and even 7 days off for a planned vacation... It's an exchange for small sum of money to put aside for retirement and to use for our life and it's of most precious hours of our lifetime to be away from those you Love and want to provide a Happy Life for... But then, when you suddenly wake up with a Heart Surgery in 50s and tossed out by that Boss and Corporation as a Heart Patient (disposable like a paper plate or a napkin)... Looking at Peter Attia Curve Chart from "Outlive" Book and thinking of several ones of my colleagues and friends who also were working and were forced out for health reasons still so young just in their 50s and then unable to find a good job to support their New Deteriorating Health Expensive Needs and provide at least Basic Income... Everyone should be Stress Testing their Retirement Plan for being able to Retire in 50s and in poor health (with maybe $3-5k of monthly medications after Heart Surgery for the rest of their lives) instead of just swinging it and playing by air... Thank you so much for this video. If any grandparents listen to this, they would stop working immediately and spend the rest of their lives being there for grandkids and passing their wealth to their kids and grandkids so they could enjoy the freedom to live the Healthier Life and maybe even invest time in Learning a little bit about Healthy Lifestyle and getting to spend Extra Income in seeing in Preventive Integrative Medicine or Concierge Medicine advice by Peter Attia and other doctors for the Wealthy (not covered by the Health Insurance) and do it while still young to possibly avoid having a Heart Attack from working for a corporation in 50s or even earlier (as some of my coworkers didn't get to live past 40s also for neglected health and 12-16 hour working as demanded by Bosses and Corporations...
I love this idea of framing retirement around time instead of money. Of course, money is important, but it is so important to think about the 'active' time you have left, as you get older. I use to be overweight and in poor health, but at age 50 I finally decided that I didn't want to decline into an early grave like my parents did. So I started working hard on improving my health. In the last 3 years I lost 70 pounds, corrected my blood pressure, corrected my cholesterol and achieved the very best overall health of my entire life. I feel like a new man! Now, I am looking forward to retirement with a level of excitement that I didn't have before. I know I'll never be rich, but I am working hard to achieve a very comfortable retirement, hopefully beginning at age 62. I want to travel extensively throughout my 70s and now I believe I'll be able to.
Excellent content, Eric.
I am in my 70's and healthy. As we get older we are spending more and more money on the travel that we enjoy so much.
Remember retirees, this is not a dress rehearsal. This is the main event.
Thanks V p!
This video is timely. It smacked me in the face this week when a 90 year old cousin in the hospital recovering from covid was told that she needed to sell into her two houses and go into a nursing home. Why? Because she is single, requires a walker, has macular degeneration, is losing her hearing, and was told she wasn't safe to live by herself anymore. Even assisted living is not considered an option.
Why was this a smack in my face? Because I had considered her to be relatively healthy, albeit with some challenges that I considered temporary. Fast forward past the pandemic during which I had not seen her and this outcome is a shock. It is like you note early on: we all realize that there will be a decline in our health as we age, but we push off thinking about our "slow go" years, telling ourselves that it is some day in the (far) future. The reality of that day just smacked me in the face even though I am 65 through my cousin. This video just reinforces these thoughts.
I ordered the book.
I concur! Good job presenting what's the most important thing... HEALTH IS WEALTH...
IF YOU'RE HEALTHY, YOU'RE WEALTHY.
I would rather be healthy and have enough money for my needs... than Wealthy with more money for luxury but sickly that stays in bed all day. 😊
Retired 8 years ago at age 54. Immediately started 4% withdrawals of 401k, upped it to 7%, now thinking maybe 10%. Spend my money while I still can GoGo, before I hit Slo Go.
This seems to me to be an important way to think about retirement.
This video finally brings health to the forefront of retirement which I think is overlooked by many financial planners. Hard to believe, but we have people 60+ years old in our office who still smoke. Most are fat, or beyond. Doesn't matter how much money they have in their 401k when they retire. Sad.
Nice of you to share this with those approaching retirement… it’s never too late to get off your buttocks and get into shape! Hopefully my VO2 Max of near fifty in my sixties pays off!
Excellent video especially the first chart breaking down lifespan into ten year increments. Retirement planning forces one to face reality.
This video should be shared with all people before they turn 50. Awesome breakdown brother.
That (4) chart and lecture was brilliant. The less time you have, the higher the value for the time you have left. Tied remaining years of life to non-renewable resource and supply and demand.
Well said! My wife and I, ages 67 and 70, leave tomorrow for a 5 1/2-month trip to Europe. We are planning to undertake at least 5 backpacking segments, each lasting between 10 days and 6 weeks. We couldn't have done this trip 30 years ago, but not due to lack of money or health. Without the Internet and the World Wide Web, we could never have researched all the options and booked flights, trains, and hotels. We'd have wasted far too much time trying to arrange everything locally. Technology to the rescue! Does it matter that we walk a bit slower now? Only to the extent that we might have to carry more water and more food. That, alone, is incentive enough not to slow down but when we do start to slow down, we'll look for different trips with shorter distances to cover each day. I think that's a good plan 🙂
Enjoy your backpacking trip! I am jealous! Haha.
It was easy enough back then with a good guide book. In fact, it might’ve been easier without the informational overload of today.
@kenlewis2253 The information overload, as you call it, in part has led to a large increase in the number of people recreating outdoors. However, several of the backpacks we did, e.g., the Primorska Planinarska Transverzala, aren't covered in any guidebooks. I therefore stand by my original statement that these would have been impossible for us to do pre-WWW.
Great overview with some excellent points! Closing in on 70 - Garmin estimates my VO2 max is that of a 35 year old. One of my school friends is even fitter. No magic - just steady exercise. 💪 (I actually worry about the average 35 year old today...)
Great to see you Mention Peter Attia and his book. I've been a fan of his for awhile and truly believe in a lot of what he discusses on his podcasts and in his book. I'm a 56yo outdoor enthusiast and have always strived for a work/life balance and am currently considering semi-retirement. My priorities have always been sleep, exercise, nutrition and work/finances...in that order. Nothing is ever a given, but I feel quite prepared for my next stages of life. Between your channel at Peter Attia's podcast, a feel like I have a great blueprint that supplements both major aspects of my life. Thanks!
Honored to be on a similar list to Attia in your book! High level, it sounds like you have a great plan!
Pure gold. You and your time are on top of your game. Great videos! Keep it up.
This is an excellent view of the question I constantly ask myself... how much is your life worth?
Excellent video, I really appreciate your work on this one. Excellent facts and a great point of view of how we travel through the aging process.
Great video. Thanks for the book recommendation. Here's one back at you, David Sinclair's: Lifespan: Why We Age -- And Why We Don't Have To. Also find his interviews on UA-cam. They literally reversed aging in lab mice. A couple near facts/strong trends: many/most oldsters who fall breaking a hip or pelvis pass within 6 months; old diabetics outlive old non-diabetics; shorter folks tend to live longer than tall folks.
I think his info is out of date. A broken hip isn't a death sentence. Most likely scenario is that you'll get a hip replacement and be lying in bed getting narcotics and going to physical therapy for a couple weeks, then outpatient PT for awhile. Not that it's easy, there can be complications such as wound infection. Another thing everyone keeps saying is that fat people heal from surgery faster than skinny ones. That's not exactly true. Someone who under eats is going to have a hard time getting the protein they need for wound healing. Fat has very little vascularity so incisions heal poorly and sometimes dehisce ( pop open). A muscular, athletic body is going to heal faster.
Thanks Eric. Another excellent video. I highly recommended your channel, to a friend recently. (I discovered and then subscribed to your channel a few weeks ago.) I'm 65 and retired from my corporate job of 33 years, ten years ago. I was very active physically the first 7-8 years in retirement (hiked a 14ker; did a one week bicycle tour through SW Colorado-which was over 400 miles; trained for and did a few sprint triathlons, during 2 different summers; ran a local 5 mile race a few years ago-on the 4th of July; snow skied a lot).....My best advice to active seniors is to be aware of and careful of your joints (knees & hips for me, especially). You can physical therapy your way out of most muscle and tendon injuries, but your joints are more fickle. Don't over do it. Discretion is the better part of valor...I've gotten away from running and am doing more walking now. Looking into finding a personal trainer for seniors, who can help me get started with resistance training, using bands instead of weights-b/c I've heard bands are easier on your joints than dumbbells and weights.
John, thank you for sharing our channel! Great advice on not overdoing it. I'm obviously a lot younger and haven't lived the degradation that aging can be. However, I used to be primarily an endurance exerciser and noticed similar issues with hips and joints even at a younger age. Since I've developed a more holistic approach that balances strength, mobility and endurance. Never felt stronger and haven't had injury/setback in years.
Just my $0.02/experience. Resistance training can be fantastic as a weight alternative as well!
Thanks Eric, makes you think and is maybe a bit scary. But needed.
Very powerful stuff. I'm 52 and a couple of those graphs really brought home just how little time I have and how much I still have to achieve. Thank you
Great video Eric! A unique and different spin on many factors many are aware of but never looked at in this way. Very effective and important IMO. Thanks for sharing this info and your insights. Larry Oman
This was fantastic and spot on! I'll be checking out that book recommendation too.
One of the best, most comprehensive retirement videos I’ve seen. Thank you!
3:22 I enjoyed that Matt Foley reference. 🤣
😉
A van down by the river actually sounds pretty good, as long as it is accompanied with fresh fish, a nice bottle of wine and going back home after the right amount of time.
This is outstanding. I couldn’t agree more. Each of these points is so true. Thanks for sharing your thoughts. I can tell you put a lot of effort into your work. Much appreciated. This video made my day!
Jim, that means a lot. Thank you so much!
Once again, a great video. Thank You!
This is SO TRUE! I am 61, about to Retire🎉 I am still but used to be SO Active! I did 2 1 week long bicycle tours or 2 Week-long backpacking trips each year? Cov>d messed that up! Now that things are opening up again I have lost alot of fitness and will not be as easy to do it again?
Takes longer to "recover" fittness as you age - but go for it and you will be back in shape in a couple of months.
I love mowing my lawn!
Excellent video!
Great video! Very important.
This was great.
Sorry, but it's funny that "dogs" are listed before "wife". Gave me a chuckle.
I love your common-sense videos. I see that your management is for portfolios over 500K. Some of us have had too many setbacks to have that much in retirement. Can you please direct those of us who have between 100K and 500K in retirement accounts or investable assets: refer us to someone who can help us make the wisest choices? Thank you!!
Great NEW insights I will ponder.
Sounds like you're borrowing not just from Attia, but #1 from Tim Urban (WaitButWhy), and #3 Bill Perkins (Die With Zero). And those are the only ones that jumped out at me. Nothing wrong with repeating good ideas, but a mention of the source would be nice, not only to give credit, but also to let people dig into the idea some more if they want to.
Thank you
Too late for some of us.
Yeah, I wud have had more fun in Amsterdam 30 yr ago...
Enjoyment of travel diminishes with age not just because of the physical issues of an aging body. When younger one assimilates to street culture more easily as it is dominated by youth; one is more tolerant of less comfortable travel conditions including poor mattresses and harsh bus rides making travel more diverse and cheap; experiences help shape one’s sense of self for the best years of one’s lives; Travelers and locals alike are more interested in interacting with you providing experiences like invites to stay in people’s homes and offers to partner up with fellow travelers for adventures.
Also, traveling before prices increase in developing countries provide you with a huge cost savings. Why save up fifty years to travel around the world at 2023 prices when you could’ve traveled in 1973, 1983, or 1993 prices?
The same applies moving forward.
In 1993, one could travel for a month in a developing Asian country for $100. Now that number would be closer to $1500.
Are you guys strictly AUM type fee structure?
At this time, yes.
This is depressing
For a Single Parent trying to make ends meet raising a family with 2 kids decades ago a Solid Financial Planning and Retirement Plan to withstand Markets Ups and Downs was a far fetched dream. Now just have been realizing that it's sadly too late to spend time with kids, as 16 hour work days sucked out the time away from being with kids as they were growing with babysitters, and then teachers and then college professors... This makes me cry, as I just realized how often working for a corporation for earlier and Best Part of our Life based on Dr. Peter Attia Book "Outlive" curve shown in this video, it's just our Trade Off Exchanging most Precious Part of our life when we are still healthy and can enjoy traveling and doing thing we love with our young growing kids, and yet our Bosses and Work don't allow for half an our of lunch break and even 7 days off for a planned vacation... It's an exchange for small sum of money to put aside for retirement and to use for our life and it's of most precious hours of our lifetime to be away from those you Love and want to provide a Happy Life for... But then, when you suddenly wake up with a Heart Surgery in 50s and tossed out by that Boss and Corporation as a Heart Patient (disposable like a paper plate or a napkin)... Looking at Peter Attia Curve Chart from "Outlive" Book and thinking of several ones of my colleagues and friends who also were working and were forced out for health reasons still so young just in their 50s and then unable to find a good job to support their New Deteriorating Health Expensive Needs and provide at least Basic Income... Everyone should be Stress Testing their Retirement Plan for being able to Retire in 50s and in poor health (with maybe $3-5k of monthly medications after Heart Surgery for the rest of their lives) instead of just swinging it and playing by air... Thank you so much for this video. If any grandparents listen to this, they would stop working immediately and spend the rest of their lives being there for grandkids and passing their wealth to their kids and grandkids so they could enjoy the freedom to live the Healthier Life and maybe even invest time in Learning a little bit about Healthy Lifestyle and getting to spend Extra Income in seeing in Preventive Integrative Medicine or Concierge Medicine advice by Peter Attia and other doctors for the Wealthy (not covered by the Health Insurance) and do it while still young to possibly avoid having a Heart Attack from working for a corporation in 50s or even earlier (as some of my coworkers didn't get to live past 40s also for neglected health and 12-16 hour working as demanded by Bosses and Corporations...