All I want in retirement is a home that is my safe place, my sanctuary… and to be able to listen to the beautiful birds is Spring time but also envelope the joy that the promise of Spring brings and the comfort and thankfulness that to me is the most profound season of Autumn ❤❤❤
I am not sure where I found you but I sure am glad I did Ronnie.I am 6 months or less away from pulling the retirement trigger. You have made this anxiety lessened so much my friend. Thank you sir, Michael
One of the benefits for me was immediately seeing that life without a BOSS.... at WORK.... was truly a joy most of the time. I saw things in the decades that I worked which today even bothers me. Perfectly good employee gets laid off. Another worker who was never worth their salt gets to keep their job because their mother in law works there and is a manager. Something like that. It was EASY to leave behind the stress of corporate America.
I'm studying classical guitar pre-retirement and can't wait to have more practice time soon. We're in our retirement budget dress-rehearsal year and I think you're right, we'll be just fine.
I can't deny that I'm overly worrying about retiring in March, aged 60 - both the financial and time on my hands aspect. I'm really enjoying your vlogs, and they give me a lot of hope going forward and showing I shouldn't worry as much.
My retirement target is age 59 1/2 and $2 mil. About 10 years ago, I found my family can live comfortably on a net income of about 5K per month including a lux vacation once per year. This is with a low balance 2.8% mortgage as the only debt. By maintaining that lifestyle I'm now saving nearly 1/2 my take home every month which is powering up net savings and I'm projected to hit my target. I'm 53 now.
Retirement is definitely scary, especially if you don't have a solid plan. But it is a wonderful life, if you have the courage to retire. I agree with your experience in taking a trial run. It's an easy way to become more confident and comfortable with the retirement lifestyle.
It's not the finances I fear, it's the lack of structure and regular connections. I don't see myself playing cards at the senior center yet but I know if I don't get out of the house and engage in something meaningful or some structure I may feel lost and depressed. I know I need to get very engaged in some volunteer activities right away.
One big thing is to not have debt, going into retirement. Knowing what your basic expenses are, so you're not surprised and are well aware of total basic expenses. When tracking expenses, you can look back and see where you could/should need to cut back. Having extra savings is a big anxiety reducer, for emergencies, and not having to rack up credit bills. Live below your means, yet being satisfied and contented, having your needs met. Living this way, keeps expenses low, and hopefully you'll be able to live ok just on Social Security.
This is great!!! I retired and went back to work for 3 days a week , 20 hrs. The xtra money with my SS , I make more than when I worked full time and no stress . This next year I am gonna practice and save all I make working and see how I can live off my SS. ,,,,,,,!!! Exciting
The single biggest change I made during lockdowns was to eat out much, MUCH less. I love to cook but never had the time before Covid to do it. Enter work from home and voila! Now I have time preciously used for commute to now cook! Saved at least $800/mo. Replaced “things” with experiences. I am now in the cusp of confident retirement at 55 to join my husband who retired last year.
This video is so good I watched it twice! I watched it and then when my husband came in the house, I made him watch it with me. I want to ease his anxiety and potential discouragement. The "problem" is, he's not prone to discouragement or anxiety in the first place. 😄I'm the one constantly running numbers and scenarios. One day I'm sure we'll be okay and the next day I fall into "but what ifs." Today I'm feeling encouraged and like we've got this. He's got 21 days of work left!
Maybe your husband can help you by repeating and/or discussing some of the things Ronnie said here. Live in today! Tomorrow is not guaranteed and besides, it's unpredictable. You will adapt to whatever happens (was that in video 1)? All the best to you and your husband!
I’ve seen too many retired older people with money problems, I don’t plan on being one of them. I’ll keep working as long as I can stand it, it’s better than being old and poor.
Id like to retire now, but I think I will stick it out. Why? Because i have worked at home for 20+ years. Ill be putting more miles on my car, my shoes, spending more time in hotels and on planes and trains. But one thing I will do now, is focus more on my health. Reduce stress, eat healthier, move more. I'm 56 and when I retire, I want to fully enjoy a long gogo phase. (There will be balance, I love staying in, too). Thanks Ronnie for another great video
I like the way you talk Ronnie. I listen to a few people talk about retirement, and you do the best by far at easing my worries. I'm 55 and debt free. Paid for house, make 100k a year. Why am I out here? I keep asking myself. You've given me a reason to start making changes. 58 is my new goal.
I do have an RV and have been RVing for over 8 years. My plan is to travel using it for the first few years of retirement and then sell it. It’s a great lifestyle but it is only a memory investment. They do cost money to operate and own. I know people who sold their house, bought an RV and lived in their RV full time. In my opinion that is not smart. But even then, if you enjoy it and have the means then go for it.
Once again some great ideas that bring peace of mind, And another huge bucket of common sense. We really enjoyed this. Thanks again Ronnie. Regards, Nigel and Alison . UK
Struggling with the decision to retire or not right now. I know I will be in good shape financially but I’m still having trouble with the thought of not earning money.
Ronnie, I'm getting ready to retire at the end of January 2025. Retiring has caused me a lot of apprehension, to the point that it sometimes feels terrifying. I will be debt-free and have a healthy 401K, as well as my and my Wife's social security, and I have a monthly pension so I'm in good shape financially. Your videos have given me a much better assurance of retirement. I feel much better thanks to you. God bless Brother !
Hello Ron, I am married and have worked for 46 years. I started cutting back at work from 4 days a week, 12 hour + days, to 3 days a week, then 2 days a week, then 1 day a week, then 3 days a month, and now I work 2 days a month. I love it. I am working now because I want to see my patients and some of my co-workers and to remain an RN which I really worked hard for. It is hard to give up. I totally agree with you Ron. Most people who have worked for years as we have, may find it hard to stop cold turkey. Cutting back seems like the most sensible way to ease into retirement for most. Now, I love being at home, canning, gardening, mowing, cooking, and reading. God has blessed us to be able to do this at 61. My husband is cutting back next year. Retirement is wonderful if you can do it. Great Video's!!!
Ronnie, Cheers to another great informative and value packed video. I love all of your perspective and experiences you're sharing with the world. I'm hopeful other people get as much out of this as I am. I'm wondering if you plan to leave a fortune to your children and grandchildren or if you intend to enjoy spending more of your wealth as you continue through life. I've looked at a lot of "retirement calculators" that show how much we CAN draw down per month from our nest egg and not run out of money even if we live to 100! I don't think we'd spend it all every month or year, but we do plan on doing SOME traveling each year WHILE WE CAN, which I know you've spoken about in some of your videos. In the movie "The Great Debaters" Forest Whitaker's" character asks him what he needs to always remember and Forest answers, "We have to do what we HAVE to do so that we can do what we WANT to do in life." Most profound words I've ever heard in a movie. Thanks again for sharing Ronnie. Love your sage advice...
Ronnie, your message is the same one I’ve preaching for years. I read a book about this when I was just starting out, I’m 56 now, it made life so good for me and my family. I remember working a job years ago and I was the only one not grabbing overtime shifts and telling people that “you’re trying to solve your financial problems looking at the wrong side of the equation (what you earn vs what you spend). I built 2 of my own houses, drove junk( that I repaired myself) retired at 30 to be a stay at home dad a do all this. Wife is going to retired soon (with pension) no dept, all three kids doing well. Life’s easy people. Best quote I ever heard, “99% of what humans do is backwards or wrong”. Think outside of the box, and you will find out that the rat race is all BS…..your message is the only retirement talk people need to hear. Good Job!
Great video! I just found your channel and have listened to a couple episodes. I turn 65 in January and have been on the fence about retiring. Appreciate the “you don’t need $1M” perspective.
You have the best logical retirement advice i know. You are so encouraging.! I get my social security now, and work 3 days a week. But you are right you cant work forever. . Thankyou for your simple , sentsible advice.
You might want to consider taking out some of your retirement fund and put in your savings so you don't have to be in a higher tax bracket when you get your RMD
I think about doing this also but I can't figure out if you still make out better by leaving the funds in the retirement fund as long as possible and getting as much compounding as possible before you have to withdraw. I wish there were examples somewhere on this calculation to determine which way is best.
@liveandlearn4980 You could always put in your taxable account. Have you ever listened to Jill on Money or heritage wealth planning (josh)? They may do something like that.
As a supplement to your advice in alleviating retirement apprehension, you might want to mention that having at least a concept of daily routines or endeavors will also go a long way in easing uncertainty regarding “what am I going to do with myself” in retirement. It will also lead to one's productivity.
Thank you Ronnie for your very wise comments on retirement.. I’m in that stage where I’m in the midst of making that decision and I truly appreciate your insight ❤❤❤❤
I've always been a saver... so I've always had money set aside for emergencies. Just save money. Any amount is good to have: $1000 or $2000, etc. Ideally, you'd want to have about 3-6 months worth of expenses (in the event you lost your job or wanted to change jobs). This gives you a buffer.
This American flag was given to my by an Army officer who served in Afghanistan. The flag flew in a combat zone & was retired, properly folded, and presented to me. I value it greatly.
I'd rather not say publically because too many people close to home will know my business. But I can tell you this: not as much as the typical financial advisor says you need. The real game changer for me was becoming mortgage free & 100% debt free. Btw, there are a lot of UA-cam channels that are built around the message that anyone can retire on 500K or less. I know people who've done it on much less. Some even retire on Soc Sec alone (it's tough, but doable). Thanks for commenting.
@@andrewhenderson9474 In the U.S. you can get early Soc Sec at 62 (that's reduced about 30% lower than full benefit age). Full benefit age is based on date-of-birth. For me it was 66.5. Most have to hit 67 now. I think it's 67 in Europe too. I wish it was full benefits at 60 for everyone... but the system is desiged to keep us working as long as possible... so that the goverment payout is shorter. Thanks for commenting.
I'm 11months in at. 62. Zero. Regrets. Best life. Ever. Miss my. Job. Zero,,, miss my excoworkers. Zero,,,miss the whole work culture. Zero,,,I feel like I. Just. Got out of a 40. Prison sentence,,,I know a whole lot of people who can't retire at 62. Number one reason POOR. LAZY. UNINFORMED, FOLLOWING THE CROWD MIND SET..now that I'm retired at 62 and live like a king I. Can see clearly through all the bull shxt,,,artist. Words of useless trash talk that uses fear and ignorance as it's foundation.
Hello UA-cam Star- I have watched all your videos. Your videos are very nice but there is some problem with your channel. Your channel is not optimized properly and your channel SEO score is very low due to which your channel is not getting good views. If you solve your channel problems, you will get many Subscriber views on your channel. Have a Good Day
I've posted an outline (of the talking points) in the description above. Thanks for stopping by & leave me a comment.
Li ki I I I I I I I😊😊😊😊😊
All I want in retirement is a home that is my safe place, my sanctuary… and to be able to listen to the beautiful birds is Spring time but also envelope the joy that the promise of Spring brings and the comfort and thankfulness that to me is the most profound season of Autumn ❤❤❤
Well said. Me too.
I am not sure where I found you but I sure am glad I did Ronnie.I am 6 months or less away from pulling the retirement trigger. You have made this anxiety lessened so much my friend. Thank you sir,
Michael
One of the benefits for me was immediately seeing that life without a BOSS.... at WORK.... was truly a joy most of the time. I saw things in the decades that I worked which today even bothers me. Perfectly good employee gets laid off. Another worker who was never worth their salt gets to keep their job because their mother in law works there and is a manager. Something like that. It was EASY to leave behind the stress of corporate America.
Absolutely! I agree, it was EASY to leave it behind.
Ronnie-I’m set to retire in the next month…woke up a little anxious this morning…this video was just what I needed today. God Bless!
Agree!
I'm studying classical guitar pre-retirement and can't wait to have more practice time soon. We're in our retirement budget dress-rehearsal year and I think you're right, we'll be just fine.
I can't deny that I'm overly worrying about retiring in March, aged 60 - both the financial and time on my hands aspect.
I'm really enjoying your vlogs, and they give me a lot of hope going forward and showing I shouldn't worry as much.
Thank you.
My retirement target is age 59 1/2 and $2 mil. About 10 years ago, I found my family can live comfortably on a net income of about 5K per month including a lux vacation once per year. This is with a low balance 2.8% mortgage as the only debt. By maintaining that lifestyle I'm now saving nearly 1/2 my take home every month which is powering up net savings and I'm projected to hit my target. I'm 53 now.
Retirement is definitely scary, especially if you don't have a solid plan. But it is a wonderful life, if you have the courage to retire. I agree with your experience in taking a trial run. It's an easy way to become more confident and comfortable with the retirement lifestyle.
It's not the finances I fear, it's the lack of structure and regular connections. I don't see myself playing cards at the senior center yet but I know if I don't get out of the house and engage in something meaningful or some structure I may feel lost and depressed. I know I need to get very engaged in some volunteer activities right away.
I think you've summed up my fears exactly
One big thing is to not have debt, going into retirement. Knowing what your basic expenses are, so you're not surprised and are well aware of total basic expenses. When tracking expenses, you can look back and see where you could/should need to cut back. Having extra savings is a big anxiety reducer, for emergencies, and not having to rack up credit bills. Live below your means, yet being satisfied and contented, having your needs met. Living this way, keeps expenses low, and hopefully you'll be able to live ok just on Social Security.
Thanks for commenting.
This is great!!! I retired and went back to work for 3 days a week , 20 hrs. The xtra money with my SS , I make more than when I worked full time and no stress . This next year I am gonna practice and save all I make working and see how I can live off my SS. ,,,,,,,!!! Exciting
Congrats!
The single biggest change I made during lockdowns was to eat out much, MUCH less. I love to cook but never had the time before Covid to do it. Enter work from home and voila! Now I have time preciously used for commute to now cook! Saved at least $800/mo. Replaced “things” with experiences. I am now in the cusp of confident retirement at 55 to join my husband who retired last year.
Congrats!
Retirement is not an age, it's a stage. We got our time back in our 40s, quietly and seamlessly. Practicing is a great idea, thank you.
This video is so good I watched it twice! I watched it and then when my husband came in the house, I made him watch it with me. I want to ease his anxiety and potential discouragement. The "problem" is, he's not prone to discouragement or anxiety in the first place. 😄I'm the one constantly running numbers and scenarios. One day I'm sure we'll be okay and the next day I fall into "but what ifs." Today I'm feeling encouraged and like we've got this. He's got 21 days of work left!
Congrats! And thanks for commenting.
Maybe your husband can help you by repeating and/or discussing some of the things Ronnie said here.
Live in today! Tomorrow is not guaranteed and besides, it's unpredictable. You will adapt to whatever happens (was that in video 1)?
All the best to you and your husband!
I’ve seen too many retired older people with money problems, I don’t plan on being one of them. I’ll keep working as long as I can stand it, it’s better than being old and poor.
Id like to retire now, but I think I will stick it out. Why? Because i have worked at home for 20+ years. Ill be putting more miles on my car, my shoes, spending more time in hotels and on planes and trains. But one thing I will do now, is focus more on my health. Reduce stress, eat healthier, move more. I'm 56 and when I retire, I want to fully enjoy a long gogo phase. (There will be balance, I love staying in, too).
Thanks Ronnie for another great video
I like the way you talk Ronnie. I listen to a few people talk about retirement, and you do the best by far at easing my worries. I'm 55 and debt free. Paid for house, make 100k a year. Why am I out here? I keep asking myself. You've given me a reason to start making changes. 58 is my new goal.
Thank you.
I love watching your show. It's always full of good information Thanks Ronnie. :) ang
I do have an RV and have been RVing for over 8 years. My plan is to travel using it for the first few years of retirement and then sell it. It’s a great lifestyle but it is only a memory investment. They do cost money to operate and own. I know people who sold their house, bought an RV and lived in their RV full time. In my opinion that is not smart. But even then, if you enjoy it and have the means then go for it.
Once again some great ideas that bring peace of mind,
And another huge bucket of common sense.
We really enjoyed this.
Thanks again Ronnie.
Regards,
Nigel and Alison . UK
Really like your delivery of the information....thanks!
Great advice Ronnie! I’m working on my car right now hands are full of grease. Otherwise I’d say more 😊😮😊😮
Struggling with the decision to retire or not right now.
I know I will be in good shape financially but I’m still having trouble with the thought of not earning money.
Understood. That is a real adjustment.
Thanks Ronnie for the sound advice buddy !
Ronnie, I'm getting ready to retire at the end of January 2025. Retiring has caused me a lot of apprehension, to the point that it sometimes feels terrifying. I will be debt-free and have a healthy 401K, as well as my and my Wife's social security, and I have a monthly pension so I'm in good shape financially. Your videos have given me a much better assurance of retirement. I feel much better thanks to you. God bless Brother !
Thank you for your practical wisdom, it is much appreciated.
Hello Ron, I am married and have worked for 46 years. I started cutting back at work from 4 days a week, 12 hour + days, to 3 days a week, then 2 days a week, then 1 day a week, then 3 days a month, and now I work 2 days a month. I love it. I am working now because I want to see my patients and some of my co-workers and to remain an RN which I really worked hard for. It is hard to give up. I totally agree with you Ron. Most people who have worked for years as we have, may find it hard to stop cold turkey. Cutting back seems like the most sensible way to ease into retirement for most. Now, I love being at home, canning, gardening, mowing, cooking, and reading. God has blessed us to be able to do this at 61. My husband is cutting back next year. Retirement is wonderful if you can do it. Great Video's!!!
Thank you for the kind words. And congrats on this new chapter of your life!
Ronnie, Cheers to another great informative and value packed video. I love all of your perspective and experiences you're sharing with the world. I'm hopeful other people get as much out of this as I am. I'm wondering if you plan to leave a fortune to your children and grandchildren or if you intend to enjoy spending more of your wealth as you continue through life. I've looked at a lot of "retirement calculators" that show how much we CAN draw down per month from our nest egg and not run out of money even if we live to 100! I don't think we'd spend it all every month or year, but we do plan on doing SOME traveling each year WHILE WE CAN, which I know you've spoken about in some of your videos. In the movie "The Great Debaters" Forest Whitaker's" character asks him what he needs to always remember and Forest answers, "We have to do what we HAVE to do so that we can do what we WANT to do in life." Most profound words I've ever heard in a movie. Thanks again for sharing Ronnie. Love your sage advice...
Thank you for the kind & insightful words.
Love this. Yes Home and mental freedom. Cannot put a price on that. 😊
I'm trying to get used to retirement , your vids help
Ronnie, your message is the same one I’ve preaching for years. I read a book about this when I was just starting out, I’m 56 now, it made life so good for me and my family. I remember working a job years ago and I was the only one not grabbing overtime shifts and telling people that “you’re trying to solve your financial problems looking at the wrong side of the equation (what you earn vs what you spend). I built 2 of my own houses, drove junk( that I repaired myself) retired at 30 to be a stay at home dad a do all this. Wife is going to retired soon (with pension) no dept, all three kids doing well. Life’s easy people. Best quote I ever heard, “99% of what humans do is backwards or wrong”. Think outside of the box, and you will find out that the rat race is all BS…..your message is the only retirement talk people need to hear. Good Job!
Another good message Ronnie!
Thank you Ronnie👍🏻
Great video! I just found your channel and have listened to a couple episodes. I turn 65 in January and have been on the fence about retiring. Appreciate the “you don’t need $1M” perspective.
You have the best logical retirement advice i know. You are so encouraging.! I get my social security now, and work 3 days a week. But you are right you cant work forever. . Thankyou for your simple , sentsible advice.
Thank you.
good lesson try thailand then you can save more regards from thailand
You might want to consider taking out some of your retirement fund and put in your savings so you don't have to be in a higher tax bracket when you get your RMD
I think about doing this also but I can't figure out if you still make out better by leaving the funds in the retirement fund as long as possible and getting as much compounding as possible before you have to withdraw. I wish there were examples somewhere on this calculation to determine which way is best.
@liveandlearn4980 You could always put in your taxable account. Have you ever listened to Jill on Money or heritage wealth planning (josh)? They may do something like that.
As a supplement to your advice in alleviating retirement apprehension, you might want to mention that having at least a concept of daily routines or endeavors will also go a long way in easing uncertainty regarding “what am I going to do with myself” in retirement. It will also lead to one's productivity.
Thank you Ronnie for your very wise comments on retirement.. I’m in that stage where I’m in the midst of making that decision and I truly appreciate your insight ❤❤❤❤
Some sensible advise
How does one afford health insurance if they retire before age 65, when they qualify for Medicare?
The Affordable Care Act (ACA) also known as Obama Care. The nsurance premiums are based on household income.
Ronnie , how did you go about starting your emergency fund. How much did you save for emergency fund?
I've always been a saver... so I've always had money set aside for emergencies. Just save money. Any amount is good to have: $1000 or $2000, etc. Ideally, you'd want to have about 3-6 months worth of expenses (in the event you lost your job or wanted to change jobs). This gives you a buffer.
You mentioned in your video high yield savings account, what is one you would recommend? And, most are online accounts right?
@@MichaelHarrison-k2c I use a local bank for that. Brick & mortar.
@@MichaelHarrison-k2c I use a locl bank for that. Brick & mortar. I like being able to walk in and talk to my banker.
I appreciate your thoughts and advice. Did you get help from someone, or a book you read or other?
I'd say about 90% of this content is original.
I don't fear retirement. I fear running out of money. Money is always paramount.
Get rid of the fear by not following the crowd,,,,,and let pure numbers guide you!!!!!!and god of course!!!!!
I don't mean to get too personal, but what is the flag from? Love your show. :) ang
This American flag was given to my by an Army officer who served in Afghanistan. The flag flew in a combat zone & was retired, properly folded, and presented to me. I value it greatly.
Great Video Ronnie. How much money did you have to retire on. ???
I'd rather not say publically because too many people close to home will know my business. But I can tell you this: not as much as the typical financial advisor says you need. The real game changer for me was becoming mortgage free & 100% debt free. Btw, there are a lot of UA-cam channels that are built around the message that anyone can retire on 500K or less. I know people who've done it on much less. Some even retire on Soc Sec alone (it's tough, but doable). Thanks for commenting.
I am 59 and live in Australia. The get Social Security I have to be 67.!!
@@andrewhenderson9474 In the U.S. you can get early Soc Sec at 62 (that's reduced about 30% lower than full benefit age). Full benefit age is based on date-of-birth. For me it was 66.5. Most have to hit 67 now. I think it's 67 in Europe too. I wish it was full benefits at 60 for everyone... but the system is desiged to keep us working as long as possible... so that the goverment payout is shorter. Thanks for commenting.
2 more weeks to retirement -woo hoo!
@@teebirds7152 Congrats!
RMD is required at age 73 if you reach age 72 after Dec. 31, 2022. I think you have another year Ronnie, do your own research.
Yes, you are correct.
I'm 11months in at. 62. Zero. Regrets. Best life. Ever. Miss my. Job. Zero,,, miss my excoworkers. Zero,,,miss the whole work culture. Zero,,,I feel like I. Just. Got out of a 40. Prison sentence,,,I know a whole lot of people who can't retire at 62. Number one reason POOR. LAZY. UNINFORMED, FOLLOWING THE CROWD MIND SET..now that I'm retired at 62 and live like a king I. Can see clearly through all the bull shxt,,,artist. Words of useless trash talk that uses fear and ignorance as it's foundation.
Well said.
Answer following.. is your wife working? If yes...that takes the whole retirement to a different level.. its a safe bank fall back.
Hello UA-cam Star- I have watched all your videos. Your videos are very nice but there is some problem with your channel. Your channel is not optimized properly and your channel SEO score is very low due to which your channel is not getting good views. If you solve your channel problems, you will get many Subscriber views on your channel. Have a Good Day
58 years of age to retire is early? 🫢 oh my…