10 Proven Ways to STRETCH Your Money in Retirement
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- Опубліковано 2 чер 2024
- This video helps you retire with confidence by showing you 10 proven ways retirees stretch their funds. These retirement money saving tips are both effective and easy to implement and (for the most part) do not decrease a retiree's lifestyle.
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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.
After working in the courts for decades, I would NEVER rent a room out. The laws for eviction make it very difficult to evict someone without 60-days notice, which means they are living in your home knowing that you are trying to evict them. Owners have had to move out of their home because they felt unsafe, waiting for the 60 days to to count down and during that time they have a stranger they are trying to evict living in their home “unsupervised.” 12:14 Nope. Not a good option.
Thank you for your information on this. I have considered having a renter at some point but it seems that the renters have more rights than the homeowners! Also I watch a program on the ID channel called Fear Thy Roommate, and it's shocking what can happen between two seemingly reasonable people when they're in a living situation! Question for you, would you consider renting a space in a separate building from your home? That's also an option I might have in the future..
Sav, you've already answered your own question. If your not comfortable in your own home how is another wall going to make that much difference.
I think it is very risky for the general public to rent out a room or property. The laws are strict and unless you know what you’re doing, you could find yourself in a very costly and difficult situation. Evicting someone is a legal action that has strict rules to follow for serving the party, giving them proper notice, etc. I have seen horrible stories in court that has convinced me that I will never rent out a property that I own, whether I am also living in it or not.
@@JohnJohn-wr1jo I've only thought of it as an option because then I wouldn't have someone actually living in my living quarters with me because they would be in a separate building on my property. But the original commenter has convinced me not to do that exclamation point
I rented a house to family members during the pandemic. I was told that the house was going to be taken care off as if it was their own. That didn’t happen. So I questioned the negligence on their part, and boy that went south very quick and was threaten with a lawsuit from my own family. Eventually they moved out but left a mess for me to clean up. So never again, especially to a family member. What a learning experience that was. Now I’m the bad guy in the family and enemy number one. Take care all.
I just retired 2yrs ago at 62 1/2. I cut my own lawn, i re-insulated my attic and weather stripped. I do all my home repairs including remodel our kitchen in which i built new cabinet doors. Last week i cleaned out the rain gutters but as i was up a 12ft ladder cleaning, i thought that i might not be able to do this much longer. But one thing most people refuse to do is ask help from their kids. Being a retired maintenance mechanic in the UC system, i can fix just about anything. Ive helped my kids in so many ways, and saved them so much money i know they will help me. So ask your kids for help, they owe you.
I LOVE that idea!
I had screens/shields placed over my gutters and many companies make that type of product and I have had no issues with them for the last 10 years.
In theory, if they need to be cleaned out the company that did the installation should do that for you.
It definitely helps to be a handy person or to have previous experience in home repairs . And age certainly has something to do with it. Although my former neighbor who was in her early to mid 80s was still taking care of all of her yard work alone! When my husband was alive he did quite a bit around our house and we only call professionals when he knew it was above his abilities. We also used to mow our own grass take care of the massive amount of leaves in our yard, but now that he's passed, I need to pay for all that. Mainly because I don't want the hassle of maintaining a lawn tractor. Sadly we never had children and my brother's children all live out of state for me now. They were my backup plan but that hasn't worked out very well 😂
Modern life can be complicated people may have to move or travel for jobs often or work unusual hours so much going on.
I helped my parents for 10 years it was like a second job because of health issues and modern health care.
I am not sure it's fair to expect too much from kids/relatives given the world they live/compete in now.
Great video.
I may have mentioned that I am a retired Naval senior officer Family Physician (rank CAPT)
30 years.
Wow!
I had no idea how tired that I was until I retired.
I do receive a military retirement which is okay.
Here are some of the things I use: Military/Veteran Discounts (it adds up), coupons for things I actually buy or might want to start new, I say if you get a 10% discount based on these discounts it would take just over 11% to gain the money back. Do the math.
I own a 4 door Minicooper hardtop which is great on gas.
I own a larger house because it is what my wife and I would have bought after military retirement.
Unfortunately, she died on active duty in 2014 and was buried with full honors in Arlington National Cemetery.
I miss her but the home is dedicated to her as well as a recent dock I had built to old Tampa Bay.May the Lord. Less all of you this great holiday season.
I'm so sorry for the loss of your wife. 😢 My late husband was a veteran. Thank you and your wife both for your service to our great nation! I hope your retirement is as long as pleasant as you had always planned!
Thanks Dipak
So I retired at 58 during the pandemic and now on a limited income. Other ways to save on property taxes is to talk the tax assessment office to find out if they have any discounts for senior citizens on a limited income. Property tax savings can be substantial based on one’s income. Also call the utility companies as well. Some offer discounts of 15 to 30 percent. Another way to save is to talk to the insurance companies and ask them if they have a miles tracking device to save on car insurance. I also called the water utility company to lower the water pressure to save on water and sewer consumption. Great video. Take care.
Thanks v much edv!
I cut my own firewood.
Have LED lights.
Maintain my own yard.
Wash my own cars.
Fix my own stuff.
Don't go out to eat much.
Have a budget.
‐-----‐
And we set aside so much money we travel like millionaires. And that's the point, we're spending mostly on what we enjoy.
No truer words were ever spoken…
@@HolySchmidt Why thank you Geoff!
Hi Geoff! I think many of your tips are helpful, but mostly for retirees in their 60s. Something happens when you cross into your 70s. In my case, I realized that getting up on the roof to clear rain gutters was a stupid thing for me to be doing. As years went on, we found that we wanted to pay for services rather than DIY, and that includes cooking and cleaning. This is the opposite of some of your money saving tips, and seniors need to realize that this time is probably coming. Our current lifestyle costs us more than what we used to pay at a younger age, but that's what we were saving for.
One last thing is that personally, I don't ever want to live outside the U.S., especially in a country where I don't speak the language. Just my preference.
I'm 63 and have been on disability and my husband passed at a young age back in 2011. I'm already thinking that the upkeep of my house is going to get more difficult mainly because of the financial outlay of needing to hire people. I remember an old movie about owning homes, called The Money Pit, which I never saw, but apparently was very entertaining and truthful at the same time. My only concern is that a rental situation could change suddenly like the last couple of years when I heard that rents in some areas increased by 30% in one year. I'm not sure I would want to be in that situation of having to pay or find another place to live especially at an older age.
@@Savannah-ed4rv I agree that moving gets harder as one gets older. But it's still possible! You could look into downsizing---selling your current home and buying a smaller home or a condo. You might also look into subsidized senior housing.
Totally agree with Jody Larson😊 Do not handle projects too big at this age. Having 2 or 3 quotes to decide which one is reasonable. Pay somebody to keep our economy going. At retirement you need peace, quiet and safety. Do not rent out a room. What if a nightmare tenant moves in? Not worth the $400 or $500 monthly income. You may go on vacation in a cheap foreign country. Eventually America is still your home to come back to
Yes living outside the US is not a good idea for an older person. I’m now 62 years old and live outside of the US for about 6 months but now I’m rethinking what to do as I get older. The infrastructure is not the same as back home with the exception of Europe and some of the Asian countries. I love to explore the world but that comes at a price. Take care all.
I think a big potential cost savings is eliminate cable or satellite tv, replace it with streaming. But... don't sign up for so many pay streaming services to the point where you are spending as much or more than you did for cable/satellite. Yes - going a low-cost streaming route will mean you will have to give up some shows or features you like (sports and local news comes to mind), but if you can do without sports packages and can receive local channels via an antenna, the savings can really add up. I am not retired (still working) but gave up cable a number of years ago (probably about 7 or 8 years) and figure I have saved at least $5,000 since.
DOWNSIZING is not for everyone. My 2,400 SF 12 year old house is paid off. I also pay a low PROPERTY TAX, based upon my lower purchase price. Another house may mean a higher property Tax. In addition, the REALTOR COSTS to sell and buy are high and I could lose 15% or more in the and buy process. Add in new furniture and moving costs and downsizing becomes EXPENSIVE.
Before moving into my current home, I looked at many homes in the 800-900 sq ft category and was hugely disappointed. Not only did they cost much more than the 1500 sq ft home I eventually bought. They were built in the 30’s & 40’s. And most had never been remodeled. No garage, no A/C, which is needed where I live. These homes were also in need of updated electrical, plumbing and insulation. Much cheaper to buy a larger, newer house.
Same in my area!
Great tips. I'm not ready for retirement yet but my mom taught me how to dry most of my clothes on dryer racks or on a clothes line. It cuts back on electricity use but also makes your clothes last longer because they arn't beat up in the dryer. My shirts have lasted so much longer and look newer than when I was drying them in a dryer.
We downsized to new construction and community lawn maintenance. Have an elevator.
Energy bill in FL averages $100/mo!. Sometimes wash the car. Only do 2 meals per day. Mostly cook, but do lunch and dinner out about once a week. I can and do fix most things.
I would never rent out to anyone!! We do a budget, including $25k for travel per year. We buy non-perishables in bulk since we have plenty of storage.
We just returned from Europe, including a week in Portugal. It is a very nice country with good people and a nice quality of life, but have no desire to live offshore permanently…Family!
The wife and I go out to eat, we normally split a meal. ( and sometimes still bring food home ) This way we still get the fun experience of going out, without paying the recently sky high prices that came after Covid. < so many times we see families go out to eat, then leave enough food on the table to be thrown away that would feed us for a few days . >
Good point Gabriel.
I have 2 friends who are my age one is a little older.. we get together a couple times a month and go out to places like the thrift store, antique store, etc. and then to lunch we usually go to a country sit down style restaurant and get what's called a Barnyard Buster eggs, sausage gravy, fried potatoes and biscuits it's around $10.00 we usually just water with lemon coffee is where they get you $2.79 a cup Wow! But its a nice way to get out of the house for the three of us during the winter and not spend a lot of money. Anna In Ohio
another great idea @@buckeyedav1
My sister rented rooms as a way to become a homeowner. She gave it up after one of her tenants was arrested for and convicted of rape, torture, and murder. He’s in jail now but she decided that being a landlord wasn’t for her. After I retired I got rid of a car, got a surprisingly high amount for it, and am saving $.
Other ways to save money - Don't use your clothes dryer, put your water heater on a timer, use a toaster oven instead of the big oven, turn the lights off when you leave the room, even if you use LED's
Love these!
Ive always enjoyed gardening, but during my working days didnt have the time to effectively garden. In retirement, I'm able to grow more fresh organic vegetables than we can eat during the summer, and end up freezing and can nearly all winter foods we need, such as potatoes, saurkraut beets, beef, chicken, berries, apples, cherries, leeks, spinich, asparagus and numerous others.
Great comment. I like gardening too!
Like your videos. Retirement overseas seems like a good idea but keep in mind the things you take for granted. Like medical insurance. Portugal, like most places, require proof of medical insurance, Medicare does not cover for living overseas. Worse than that, if you change your mind in a few years, I believe, you will be subject to major penalties if you try to get back on Medicare when you return😢.
Here is an idea not mentioned. Your local library might be able to save you a lot of money in two ways. First, the new novels by some authors such as John Grisham will be there within a few weeks of publication; you can take them out and not have to pay upwards of $30 for a book you will read once. Second, magazines for your interests might be there. Our library has Barron's and Model Railroader, combined annual subscriptions of $450, for free. Between these two ideas, I will save many hundreds of dollars.
Okay, you said the magic words - Model Railroader! You lived my childhood!!
Library - good point! Ours even offers free online access to many publications, including the Wall Street Journal. Local, national papers and magazines, including many very expensive subscriptions. And of course, they also have a pretty nice collection of DVDs, regular, Blu-Ray, and 4K, available for free take out. The collection includes Movies as well as series, in a wide range of interests.
@@M22Research I love my library!! I never buy books anymore or rarely I have a nephew that works for a thrift store so I did get some books discounted with family discount those are put back for winter snow in emergency here in Ohio but yes you can get just about anything new books ( I always look at the stores for books I might want to read, snapshot it with my phone and check with the library) and DVD's. Anna In Ohio
I belong to the volunteer support group at my local library. One thing we do is put on quarterly sales of books the library needs to get rid of to make room on the shelves for new books. We sell nearly new hardcover bestsellers like the fiction novels mentioned above for $1 to $2 each, plus many other wonderful books, some of which were donated to the library by community members who originally bought them in bookstores. Those community members get a tax-deductible receipt for their donations. The money from the sale goes back to the library to support programs. Winners all around!
Eating out during lunch hours saves money too at some restaurants not fast foods, always ask do you give the Senior Citizen Discount.
2. I recently took a Defensive Driving Course at a Senior Citizen Center that AARP offered. It's saving me money on my car insurance. It's good for three years. The class was for six hrs. and it cost $15.
3. Don't forget some theaters AMC gives discounts to Seniors.
4. You can get savings on Utilities once you reach 65 yrs old depending on your income and where you live.
5. Some stores like the Goodwill, Ross etc. advertise discounts for Seniors on certain days of the week.
6. If you are an AARP Member check what discounts at different places.
7. Some fast goods may give you a free drink, coffee etc. with a purchase or something if you are a Senior.
8. Also when you join a Senior Citizen Center some facilities offer discounts from Uber, so many trips a month with the mobility vehicle for Seniors.
You really just have to see what's out there for you depending on where you live.
That’s really good. Thank you!
@@HolySchmidt Your welcome.
Thanks so much!
Always great advice. Being in the high end German car repair business for over 40 years I can tell you I love nice cars, I love fast German cars. Nothing drives better…I own a Ford truck and a Toyota Camry. 2011 and 2009. Case closed. They are expensive to maintain.
There you go. Bought my Pontiac when I was 19, drove it for 20 years. Bought a Ford when I was 39 and drove it for 20 years. Just bought my retirement vehicle, a GM and will probably drive it till I croak. It only takes basic maintenance to keep them running. Also avoid driving when the drunks are out.
@@tobystevens3109 Wow..that's a great savings. Being from Detroit, I'm surprised your vehicles lasted so long!
We lived in Panama after I retired for 5 years. We now live in Florida which is actually cheaper than when we lived in Panama. The advantages of Panama which was lower cost is long gone. If you want to live the life of a local, such as beans and rice with chicken everyday, and no AC, you can do that cheaply. But if you would like a more comfortable lifestyle you will pay. Condo's are no longer the bargain that they were. Dealing with the banks in Panama is no easy feat either. Electricity costs are very high. Don't believe the pie in the sky articles that mention nothing but rainbow's in this foreign mystical land. Go there and rent an apartment for 6 months, and see how it goes first.
We found it difficult to find a smaller home but finally got one in a natural area. No mowing, no gutters, no sidewalks. One car. Big thing we are trying to figure out is entertainment/ streaming services.
I'm not cutting the lawn. In fact I don't even want to own a mower. And, I'm not shoveling the snow.
Now let’s be honest, while some people like to cut the grass, no one likes to shovel the snow!
I love mowing the lawn and shoveling snow. It's great exercise! I just set a timer on my watch and take frequent breaks.
If you don't want to do these things, you will have to pay someone.
@@mk8530 True.
My advice is don't hang on to some of those old reliable appliances because they are not energy efficient. I replaced my washer and my water bill went down $40 a month. I replaced my old Bryant AC unit with a new Bryant AC unit and it quickly started saving me about $100 on my electric bill each month.
Couldn´t help but notice the Michigan helmet behind you. Go Blue! And keep up the good work on your fine videos. I just love them. Good simply common sense, but also ideas I just had not thought of. Thanks, Geoff.
Thanks Christopher
If you were on the low end of the wage scale like me you've been doing all those things your whole life. Exceptions - not a written budget but a forced budget, also never rented out a room. No complaints however, lived within my means, saved money so was able to retire early anyhow. This list is even more critical to the current low wage workers, but probably they aren't watching your videos unfortunately.
Thanks for the comment - not sure how to reach that demographic. [editing this]. Actually I do! Watch my first video in January for the answer!
We have used and enjoy Freecycle and the Buy Nothing groups where members just give each other things! Both are National if not international. Buy nothing is under Facebook in our area and most are limited to a citizens of a geographic area. Not bartering. You post saying you need baby boy clothes, size 1 for instance and people reply, sometimes with pictures. You pick up from their porch. Sometimes it is excess garden produce or a haircut or old books. We have enjoyed it so much and made friends.
Lunch with daughter: 2 x burgers + 2 x soft drinks = $42? Even in this hyper-inflation era, that’s crazy. Pro Top for you since those inflated costs likely impact everything…. MOVE away from anywhere near NYC!
I hear you!
Wow! We are 8-ish years away from retiring (both hubby and myself working) and we are already doing almost all of these things. We can't yet downsize yet because we still have kids at home. I think one of our big reduced expenses will be going down to 1 vehicle. We already don't spend much on gas and our utilities are quite affordable. Food costs will also drop without kids eventually. We already avoid eating out.
Yes, DIY stuff works well. I tend to still outsource home repairs for various reasons. I should say various excuses! Retirement money saving tips are welcome anytime.
Thanks Red!
DIY only is worth it IF you have skills and physical capability. Most of These tips are directed towards early retirement. The further you get into retirement the more you return to needing others to step in and do many things you previously were able to do yourself. You are too young to have faced this reality.
I agree with your comment. After scrimping and do-it-yourselfing to save money for retirement, just can't wait to retire so that I have more time to spend my diminished energy on cooking, cleaning, and do-it-yourselfing.😢
Thank you for your wisdom as always. Wishing you the very best in 2024 and beyond.
Hi Geoff,
Another phenomenal video … watching your videos makes me a little bit more wealthy and I appreciate you brother you work really hard to manufacture your videos and I am one of millions of your fans that truly appreciate you. Thank you for all the work that you do merry Christmas and happy 2024 I wish you the best and happy Hanukkah.🇺🇸🎄⭐️🙏😇🇮🇹
Thanks Jimmy. Same to you
Always good to have reminders on cost savings.
Thanks good ideas. Some ideas from Germany:
1.) Bake your bread by yourself. 1 KG bread then only costs you 1-2$ and tastes delicious (how much costs 1 KG flour in US?)
2.) Same for cooking you own marmalade (e.g. raspberry /strawberry using frozen fruits).
3.) Also nice is baking pizza or mexican tortilla.
=> There should be several videos for baking bread etc. on UA-cam. Quite cheap and makes fun.
SUGGESTION: Today many near retirees are dealing with marriage issues in their retirement plan. "Let me explain", many couples are uniting at later ages often both were on separate retirement plans, and if they marry, they may gain or lose options. These include classic retirement plans (IRAs, 401ks, etc), property as houses, and social security status. For example, I know a divorced lady whose husband maxed his SS payments for decades thus she could draw off that account both spousal and survivor however if she marries, she may lose that option, to a lower option. There are many horror stories of assets mingling. I know there are options as Trusts for the assets, however the social security options are not the same. Care to address it
Let me give it some thought. Seems pretty individualized based on personal factors. If I can find a way to make the advice work most of the time, I’ll jump on it!
Thank you, Geoff. Appreciate your thoughtful advice and kindness.
Your budget excel template is awesome!
Thanks! It’s fun too!
Thank you for another informative video. I hope you and your family have a joyful holiday season. Thank you again for creating these videos.
Thanks Anita. The same to you
Thank you, as always, for the insightful and practical videos. (PS… great addition to the background there! Go Blue!)
You noticed. The rivalry!
Great video. Looking forward to your n
NEST REPORT! Great idea
I hope it works! The data says it will.
I just hit that Like button !
Thank you!
1. Utilities: hard to cut down if you're now home most of the time in a typical day. yes, LEDs are the best!
You can always go to the public library or other free public places during the day. I set my thermostat low in the winter and high in the summer because I spend a lot of time outside and I want my body to be acclimated so I am comfortable.
Going down to one car is on my list. Looking forward to the Nest feedback.
Love the car idea. Will give you my view on the Nest in a few months
My bank has ebills and my credit cards are set to automatically pay off every month. I never pay interest and wind up with $60 to $100 in points every month to buy things I need.
Nicely done
Thank you. A budget was one of the best things I found that keeps me calm. It is great to know that I have so much money for food, so I can get that sausage that cost more, or I can get peanut butter.... but I am free. I would love to and might do it, but Portugal looks so fantastic! No mosquitos in Iceland by the way!
Oh and I am SURE they expected a tip too! (Diner)
They did!
Another informative video. I’ll (rather my husband) have to check out the zone thermostats. Thank you for the advice. Also… I enjoyed the B-2 Stealth Bomber quick cameo. I began my career on that program many years ago and I’m retiring in a couple months! 🎉
Very cool!
A budget yes. Be able to see where the money is going and or getting saved
100%
I always like your advise. I am now unfortunately in Texas. Need to rebuild with a pool should we stay. Rather go to Maine and buy a sailboat.
Texas has the warm weather, Maine has the Seasons. Tough call
My mother’s nickname was Scooter 🙏
All good ideas, most of which we do now even though we are not retired. We will consider downsizing when we retire, but we can't move anywhere (smaller or not) within commuting distance of our jobs for less since we are in an area where existing older, smaller homes like ours are being bought to tear down and build much larger, more expensive homes. Really enjoy your videos. Thank you for all the ideas.
Love your UA-cam handle!
Hi Geoffrey, I am just getting caught up on your content and have been following you for a while now. You mentioned Thermostats and LED. Note that some energy companies like PSE&G in New Jersey offers subsidized thermostats. For example, my mother-in-law got a free nest when her current thermostat failed. LED is another thing that they offer. PSE&G actually came out and replaced all of her incandescent bulbs in her home with LED for free. My point is that you should check with your energy company and maybe save the cost of the thermostat and LED purchases. Some can save you money with replacing HVAC units by providing rebates (usually very high efficiency is needed) or by zero % financing like they do in Atlantic County (AC Electric) in NJ
I love the content. You are helping me prepare for my retirement. Thanks Jeff keep up the good work.
I just want to know how you and your daughter had burgers without french fries lol
It was soooooooo hard to say no to the “Royale!”
Helpful video. A few things that have helped me in retirement ... Replace appliances with those that use less energy. If your hot water heater is electric and needs replacement, go with a hybrid unit. (as example) Make sure the lights in your home are all late version LED types. Programmable thermostats (as Geoff stated) makes a significant difference in heat energy usage. Pre-pay for your seasons heating oil (if you use it) in the Spring & Summer when the prices are lowest. Add Solar to your home BEFORE you retire, not after. (payback too long after retirement) Buy a Hybrid car if you're replacing a vehicle. (Ev's still evolving too fast) Stay away from on-line services that put you on a financial treadmill (i.e. automatic monthly charges such as Pay-TV and the like)
All very good ones Bob. Thank you!
Do you have a video that addresses how to pay your quarterly estimated raxes?
Hello Mr Schmidt
Thanks for your informative videos
What do you think of banks financial planners? Are they good?
How do you a trustworthy financial planner or advisors?
Is there any difference between financial advisors and financial planners?
Hybrid heat pump water heater has saved our family 23-50% on electric bills. So glad we did it.
Interesting
I love your videos and learn alot. Does the amount of retirement increase in time or stay the same after 15-20 years?
Many retirees, even those with large retirement savings, qualify for low income benefits, like SNAP. My friend, who is a single mother, living in a 170yo house in NY, got a free energy audit from the power company and got a free refrigerator then sold the (not very) old one for $100. She is currently scheduled to get free spray foam insulation around the perimeter of the basement. Apparently, there is even a program to install free solar.
Also, food pantries can supply most of the basic ingredients for everyday meals. You can even get organic produce at the local pantry.
Never be too proud to recoup some of the money that you've been paying in taxes all of your working life.
And don't forget to claim the bottle return fee, instead of throwing them out, in those states that charge a "recycling" fee. It can be as much as $.10/ bottle in CA. And it does actually do a little toward saving the enviroment.
Unfortunately food pantries at least here in Ohio are in dire straights right now, I read in a local food group I belong to today of a large pantry running out of food by 9:45am. Use them if you can but I would not bank on them. Anna In Ohio
@@buckeyedav1
I donate modest amounts of money to different charities each year top of the list are food pantries and DAV.
Just, have you done or would you consider doing a video doing a comparison cost analysis of renting in either of standard apartment or a Senior Living Center versus continuing to stay in your own home from what I'm hearing it is more cost-effective to rent but as I've said in another comment during covid the rents increased dramatically and that would be a situation I would want to avoid.
I own my house and have to put away a certain amount every month to cover the property taxes and insurance, which is cheaper than rent in my area. Utilities are high and, if I was renting with those included there could be a substantial money savings. To me, the advantage of owning, is I have freedom to paint, renovate, rent a room to someone, etc...... if renting, the landlord can tell me I have to leave, I can only do some things, but they are responsible for repairs.
@@AhJodie Thank you. All good points to think about. I own currently but the regul upkeep lik grass cutting and repairs adds up. I think it does depend on the area too.
Good tips, but CAUTION with renting out rooms! As a landlord, I've had bad experiences with vetted tenants. When renting is good, it's good. But when it's bad, it can be nightmarish! The last thing you want as a senior is dealing with a seasoned bad tenant who knows the ins and outs. Proper vetting is a must, but they can still slip through. Even renting to people you ~think~ you know can be a REAL eye opener. And getting them out may cost you a good chunk of what you've made in rent. DON'T DO IT!
Do you have the budget template in numbers? The excel version won't load on my MacBook
Interesting video but it’s a joke to use the Global Peqce Index to compare which country is best to live in. The US spends a vast amount of money on its military so it’s going to do poorly on that index but that has little reflection on life for the average person in the US.
The GPI uses 23 indicators. I mentioned the three as an example.
@@HolySchmidt Yes, and I only mentioned one. But anyone who thinks living in South Africa is comparable to living in the US is foolish.
Agreed
Difficult to "downsize" nowadays with the cost of homes and mortgage rates.
You’d have to sell something large to buy something smaller and maybe in a less expensive location if you want to go all in
The only way to downsize and save money at this point in time would be to pay cash for your new home and not have a mortgage with the higher interest rates that we have right now.
@@Savannah-ed4rv if you're fortunate enough to be able to do that.
In public spaces “ you may not want to be in your pajamas…or worse.” Ha! I’d say better. Nothing better than skivies in the summer months.
I LOOOOOOOOOOOOOVE that!
Do you know of a software or excel template for tracking payments for home land contract sale?
Unfortunately I think you need to create that on your own
With all due respect, I would much prefer to rough it in my 20s and 30s, save tons of money, and live like a king as an elderly retiree.
Many/most retirees in a bad financial situation today wish they could go back in time…
Programmable thermostat - program it… Haha, the damage that would do to my family relationships would leave me living alone!
Have had a smart home connected programmable thermostat for a decade. The most I can hope for is a single degree set back unless I happen to be home alone, at which point I verbally request a big thermostat setback. And of course setting the temperature back remotely when everyone is out of the home.
*4 x HVAC zones (4 x furnaces) for those four Nest thermostats? What a life problem, a home big enough to have four HVAC systems!*. Not much frugal about that home. ;-)
BTW, no Nest gear for us - we care about our privacy, Google, owner of Nest, does not. Ecobee thermostats are excellent, and were the first to offer remote sensors to simulate zones even when your home only has a single HVAC system.
One furnace. 4 blowers… huge difference…
@@HolySchmidt if it is truly four blowers on one furnace (never heard of that) how does having four thermostats help? There’s only one heat and A/C source. Thermostats typically control independent heat/AC sources. One furnace to one thermostat. Curious about how that system is set up. Gate valves on each of the blower zones? So any of the four thermostats can trigger the furnace to turn on, whilst individually opening/closing each gate valve? That is a surprisingly and unusually complex system. More common to see single boiler hot water heating systems zoned.
I do lie Glory Days Diner in Greenwich, CT (my hometown)
Putnam Ave!
My experience is that LED are not that great..andhavebeen hearing and reading not really that healthy for us. Bring back the old fashion light bulbs.
Performing your own medical care, especially surgery can save you thousands. Just get the book Suture Self by Yucan Dewitt.
Thanks for s t r e t c h i n g our thoughts with another informative video.
I suggest the you begin to use labels during your presentation. In this case the 10 ways could be numbered and printed on the page as you talk about it. This would help to reinforce the concept. Keep up the good work.
#1 is iceland...............yah, because no one wants to go outside at -10F
Iceland is beautiful, but the cost of living is very high. They have a lot of geothermal areas there.
It’s funny - Iceland is all green and Greenland is all ice!
@@anitasimmons3599 isn't that 'geothermal' getting a little active there recently? 😉
Those restaurant cheeseburgers will end up costing even more in lost health. Stay home, and eat beans.
Before seriously considering moving to another country, do a lot of real world in depth research. You might be surprised by challenges or cultural issues. Find UA-cam channels focusing on retirement in those countries and subscribe to as many as you can find.
Is it common for people to move to another country when they have children and grandchildren? Seems really inconvenient.
Yes, and just as common for them to move back. Believe me, the grass is not greener over there, no matter what 'they' try to tell you. Travel there, sight-see, and come home.
WOW... $42 for 2 cheeseburgers & drinks at a diner... In the US?
It’s the New York suburbs. Toothpaste is $9.99!
@@HolySchmidt ... That's right, there are no discount outlets like Walmart in NYC? (I've heard). That better be a mega-tube of toothpaste...
Renting out rooms in your home is a potential NIGHTMARE, fraught with potential major problems, loads of stress. Unless you know well the person, their habits and history, better to forget it. Get a part time job if you want extra moola. Nothing is more important than your peace of mind, privacy and safety.
Great stuff as always 🫡
Thanks Conan!