I'm Afraid To Retire!
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- Опубліковано 21 вер 2024
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He’s been crazy about spreadsheets and documenting everything but when Dave asks what his net worth is he’s like “I honestly don’t know” lol
I retired at 53 with a small take-home. Good stewardship and good luck has grown it to about 750K. I told my money guy, “I don’t know if I’m retiring for good, but I’m retiring for now.” Haven’t looked back.
How have you handled health insurance?
@@kristennn850 I paid for COBRA until Medicare kicked in.
@@kevincooper0 Thank you.
What type of money guy do you use ? ( I am new to this situation )
@@ramonfred I started out with Klaus Cassius. A while ago, my guy there went out on his own. I got very lucky, & consider him a good friend, but interview several, make sure the one you settle on is a fiduciary and not a glorified salesman. Have a list of specific questions to be answered.
My step grandad is 82 and is still working.. he wouldn't know what to do otherwise. Very healthy, very sharp.
I think treating a hobby as a job is a good idea too. Another great uncle of mine carved birds.. he was a master of his craft. He didn't start that until he was 60. He's 90 now. 30 years of carving birds people!
People forget that 60 to 90 years old is 30 years! Do something productive
yep. instead of just waking up sitting around waiting to die. Retire means you didnt like doing what you were doing.... Retire from what????
What an uplifting story. My Grandad was a farmer and did his daily grind up to age 86. He passed away 10 years later, but he was mentally sharp, body as solid as a rock and had a great appetite.
Why retire? I agree, treat work as a hobby after say 67, but don't ever retire completely.
Commendable! Just WOW
In some videos Dave encourages people to become wealthy so they don’t have to live off Alpo when they retire and other clips he says to work until your 75. The problem is, as my CPA said, “Most people with large retirement accounts die with large retirement accounts.”
My plan is to be wise and allow my net worth to continue to rise, work at a job I enjoy as long as I can and enjoy my money along the way.
This is our plan too
>Most people with large retirement accounts die with large retirement accounts.”
It's not at all clear to me why that's a problem. I can rephrase that and say "Most people with large retirement accounts leave behind something for their families and have a legacy that materially outlives them". Why is it better to just consume everything you can instead of leaving something behind?
Never saw dying with a large retirement account a big deal when it's all about the journey.
Beats the heck out of dying broke and miserable.
Just have your financial affairs in order early and continue on with your life.
@@austinduke8876 That is a great question Austin. First, I have seen terrible divisions in my family when heirs fight over an estate. Second, I have a child that is very materialistic and highly in debt. I don’t want all of my hard work and discipline to support his lifestyle and debt. Third, I would rather my money support a worthy charity.
@@blackworldtraveler3711
I won’t die broke. My net worth is over one million.
Here Dave is describing what I actually do. After I quit working for others, I found a way to make money doing something myself I actually enjoy and whether or not I make a lot of money doesn't matter.
What are you doing?
I am a free-lance web developer. There are all kinds of things you can learn to do online that people will pay for.
I don’t get people who want to work after they retire. I retired at 52. House is paid off and I have no debt. I have a monthly retirement coming in. I live on $2k a month and I’m not kissing anything. I have hobbies and tons of things I do for fun. I do not need or want to work.
I travel dirt cheap and I’ve seen a lot of places.
Could never imagine owning a $300k home or making that in income.
I want to be like you when I grow up!!!😊
I have alot of questions if you're willing to answer? Best earning years? How much is your home? How old were you when you started investing?
That’s a 24k$ yearly taxable income. Whatever makes you happy my dude; but most of us don’t wish to live that poorly.
They work because they are slaves and cannot break free of the bondage.
@@KarlDag
No. Not income. She said that's what she lives on and that's not living poorly.
Big difference when debt free and home paid off.
"Because you're only 50....." That was deep! 4:35
Congratulations and kudos to this guy for setting himself up and putting himself in such a great position by 50! Now the world is his oyster. Well done and best of luck for the next half of his life!!!
One suggestion is to start in a volunteer capacity and find a service situation that makes your heart feel whole and healed. Service certainly does not have to be paid overtly. Another suggestion is to ask your wife for advice on what she thinks you might try next. Speak with closest friends and pastor.
Exactly, I don't know why people feel like if they aren't getting paid their time is in being used in vein or something
Pretty common problem for somebody with all this time in the military tbh. Been told what to do his whole life and was smart enough to be methodical and thrifty in his free time. Now suddenly realizes he is close to earning lots of vocational freedom and he’s never really been in this situation in his whole adult life.
I was thinking the same thing.
No body has been in the situation of being able to retire .
@@unnamedchannel1237
Plenty out there that prepared and not in the military.
I retired at 49 on 2020.
"You've still got 20-25 good hard years of work" and the guy is 50. 🤣🤣 "and go make a million dollars doing that" 🤣
Dave I purchased this book that you spoke to with reference. Thank you. I pray that anyone that reads this post that you are blessed beyond measure your your life is awesome beyond your wildest dreams.
Go become a CFI (certified flight instructor). I’m a pilot and nothing beats the view from your office.
Dave: do you have a Lamborghini?
Caller: no
Dave: there’s your next goal.
Caller: 😁
Afraid to retire. Afraid to spend your retirement money. These are good emotional aspects for this channel to discuss versus the numbers that everyone else talks about.
This is a serious issue among many close to retirement.
Many on here don't like videos like this because its flexing to them.
Trying to help as many people as possible makes us happy and wealthy.
Casey the Spammer is back to get you to click on the likes! 🤦♂️
ramble ramble ramble.
Time is all people really have. If you are cash flowing 14k a mo why work? Dave wants folks to work till they are 75
Dave is able to tell this guy that because he doesn't really seem to have a goal or direction in his life. He's just working to work to make money. Retiring to volunteer, to travel, to pursue hobbies, anything but working. If he can't figure it out, maybe working until 75 is his best choice.
Dude: why are you calling ?
Because work is fun. If it isn't, you're not doing it right.
Sound is so jumbled I gave up listening
Some people crave work. It's not really uncommon especially in blue collar people to work until they are physically unable.
Is it a desire to be needed, is it a need to strive for accomplishment, is it something that provides social, physical or emotional aspects that would otherwise be diminished, or is it that they know no other life?
It doesn't matter. Their hard work and dedication has given them the opportunity to make the choice for themselves, and their own choice is right.
No pensions?? No back up and you wanna consider retiring with out something to capitalise on ?
Did you even watch the video?
"Find your purpose and you will be happy. No need for them h**s." AMS
I feel well off but I have a fear of retiring.
I am almost 67 with no debts, 2 good cars, home repairs completed and only need to take 4% for 3 years until I file for SS at 70.
Once SS kicks in will be taking only 2% from our savings.
My wife keeps saying just retire we will be fine but I still have this fear.
I can not explain it but I guess I will just need to retire and hopefully after a year or two the fear will go away.
PS To help me with the transition to retirement I have already lined up a part time tutoring job so I will keep busy and bring in a few dollars.
Me changing course in life gives me the opportunity to work on my terms until the end. I love what I do.
Good attitude to have.
600k is really not alot of net worth at 50
True, but depend of where you live. SF Nah area here, not a chance. Nebraska maybe
Retire is such an silly concept. I want to work doing what I LOVE forever!!! Thats the true life hack
You're only 50 you still have 20 -25 years of good work left HAHA...... Dave lets all just work until we die eh......
That's what happens when you only invest 15% and don't leverage low interest rates.
I think he means go do something you enjoy doing and it doesn’t become work but a passion and in turn makes you money
@@thedopplereffect00 what do you mean?
@@tr3slech3s you want to work till you're 70? Spend 85% of every dollar you make. Want to retire early? Get that down to 50%. What's better? Material garbage or years of your life to be free?
@@thedopplereffect00 gotcha. I was really wondering about the low interest rates aspect of your comment…
This caller is smart and knows his numbers. He realizes that networth is not as important as his cashflow number per month. Satisfaction and giving is not defined by work. Recommend he go find a charity and volunteer his time.
Coming from a real estate gangster...🤣🤣
Thank you for making this information available. This is very helpful
This dude is a math wizard he says, doing spreadsheets back to 1999....but when asked the simplest question "What is your net worth"...he has no idea...
This is losing the Forrest for the trees people...
Oh the irony. Net worth is meaningless. I know mine within 500K probably, but have no clue what the exact number is. I do know the answer to the most important question though. This guy seemed to know the answer to that question to the penny as well. Lot's of people are really keeping score of the wrong game.
That's the scary part and living in a fifth wheel for what?
Caller sure likes the sound of his own voice - but doesnt know his net work? How do you know if you can reitre if you dont know that number.
"net work" or Net Worth?
hello colleen. help me understand your very excellent comment. what is net work? thanks for educating us.
Why can't people just answer a simple question?
pursue your flying. it's a visceral activity appealing to DIYers. You get out of it what you put in. I did my instructing as a younger man and stayed in my original healthcare career. My proficiency brought appreciation and compliments and I got creative in helping some people who didn't have the coursework initially certified in their various flight certifications.
Again. Deloney is just way to cool for me!
When it comes to investing, we want our money to grow with the highest rates of return, and the lowest risk possible. While there are no shortcuts to getting rich, but there are smart ways to go about it
Talking about been successful. I know I am blessed if not I wouldn't have met someone as spectacular as Mr Aleksandr
Talking about been successful. I know I am blessed if not I wouldn't have met someone as spectacular as Mr Aleksandr
I have also experience his great work too, he is good in trading
Like selling drugs
His successful stories are everywhere
Not afraid to make a brag call though.
So glad this discussion came up.
Never stopping dreaming! Help others. Lots to do.
600k net worth you ain’t even close to retiring those rental homes must be dumps or single wide trailers if his numbers are accurate
conversation is over when he said he does not know his networth. if he does not care to know that, i have nothing to say
Then don't. Retirement is usually a mistake anyway.
This guy forgot to have a life along the way. Too bizzy with his spreadsheet lol
Had to work out your net worth when your main income source in retirement will be a DB Pension (UK resident)
My spreadsheet only goes back 18 years.....
Wow spreadsheet joy.
Here's another caller in great financial shape calling in to get a pat on the back from Dave while playing make believe he's in trouble. $14K a month income. 50 years old. Govt pension on top of that right around the corner. Out playing in a 5th Wheel waking up to birds chirping and and not a care in the world except lighting the camp fire. Great work Dave- LOLOLOL you saved another one Bwhahahaaaaa.
Dave really wants people to work till they die. He’s 50 now but I wouldn’t want to work another 20-25 years lol. I’m trying to be trying by late 40s, Mid 50s. I want to enjoyed life and freedom of time
He doesn't know his numbers, guessing his net worth. Has rental properties, bet he doesn't have a long term capital budget. Good luck with that in 10 years when all need 50k roofs at the same time, wiping out a third of your "net worth". Bet retiring early was not a good idea.
He can always sell thoes properties before the 10 years or you know use the rental income to pay for the roof. . .
@@dogguy8603 then lose rental income or asset wealth. I see you haven't thought this through. That's OK. I'm sure you're good at something.
@@Nick-gk6hj what? You dont have to sell, you can jsut save money for expected costs, you act like real estate is some horrible investment, imma guess you bought a monkey nft
Paid for properties will cash flow all of that, but he definitely has zero idea what his actual worth is or how any of that is adding up. He needs to get this together or get help through a advisor asap. With four rental properties and two pensions I’d be shocked if he isn’t able to retire right now.
@@adamseidel9780 yah, if he has the cash flow and income/the right property management he can spend his life on a cruise ship drinking mai Thais
Og Dave looking fly in the button down
He mentioned being a flight instructor. Why not?
If you’re not sure if you should retire, or what you’re going to do when you retire…………then you shouldn’t retire.
My current net worth is around $4,700 I guess my question is do I have enough to retire
Imagine waiting until you're 50 to live your life
Purpose is the thing that God put you on earth to do
50 year old pilot and only a net worth of 600k, they are bad at saving….
Mission,Aspiration,Purpose! The Question is what matters to you?What do you Value?
An adventure of service. Love it.
I want to have one mill by 30 and I ain't even in the USA (Europe) rentals can be a huge hassle and honestly I personally would want to work till I die, I would just get bored chilling all the time
My friend go flying teach others 🇨🇦🇨🇦
I think paranoia is setting in!
Does not know his net worth 🤔
Do the pilot instructor thing. Who cares about roi
It's not that deep John.. it never is.. chill out dude!
I can't understand him. He is a muddle talker.
I wish everyone who is struggling to help his/her family may God give you strength and a way to get out of your problem. As a student of psychology, I am working on uploading daily videos of helping people to overcome anxiety and self-doubt on my new UA-cam Channel
Spam
@@truthseeker6370 why is it spam
@@salmanshaffie759 Your only upload is a video about some lady getting braces. There are no daily videos of gym workouts or helping people overcome diddly squat. You, sir, are a liar. Quit it.
@@salmanshaffie759Fake account and self promotion on someone else's site. Spam.
@@bingerz237 He's a spammer.
Wow this guy took so long to get to the point....
20 years to work at 50? I would say 10 at best!
People should be looking to work to 70. But working a job they actually enjoy.
Dave can’t keep his mouth shut ever. Why have a cohost when you constantly have to cut them off and interrupt? No one interrupts him. I’d love to be a fly on the wall in his house with him and his wife. Something tells me it’s not the perfect marriage with Dave the perfect husband that he makes it out to be. Where he listens and all decisions are made jointly. Give me a break.
Sharon Ramsey has lived under Dave Ramsey's thumb for so long that she's grown used to him making all the decisions, having the final say on everything and never having to make her own choices. For her, since she's been doing it for so long, almost brainwashed in a sense, she has no problem with it.
Mr. Ramsey may have good financial ideas, but comes across extremely rude and arrogant. I’m amazed his daughter turned out as sweet and compassionate as she is, having been brought up by Dave.
On second thought, I think we can all agree mom is the one who brought up the kids (well done mom).
Dave, I know you don’t take the time to read these, but you really should take some of your precious money and invest it in a course that teaches how to connect with people without being so condescending.
Being rich doesn’t give you the right to talk that way to people.
The Jesus you so often refer to treated people very much the opposite of you.
Were we watching the same video? Don't mistake strait forward talk for "rude and arrogant". Sorry if Dave didn't deliver snowflake puffery to make you feel all warm and cuddly.
@@715rdmail Some people cannot handle being talked to in a way that isn’t glowing support and praise.
It’s not necessarily this video, but his tone in general.
The Jesus who said, “let the dead bury their own dead”? Jesus shared truth much more brutally than Dave.
You have never read the Bible...you have the hippy fake jesus in mind not the Biblical Jesus.
Dave is so consumed with money he can't just let it go. He hates non profits for some reason. What's wrong with serving people without a profit as an underlying condition. This guy doesn't need the money to be comfortable so why not just serve people without restrictions? Dave always has to get in his political did at anyone who doesn't fixate on profit.
He doesn't hate non profits. He donates to many of them