I'm Smiling Because I Have $0 Saved For Retirement
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- Опубліковано 11 вер 2021
- When people find out that I'm a nomad and I changed jobs quite often they often ask me what I'm going to do about retirement. Here's my answer.
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I am 65. Please trust me that the most important thing you can do for your retirement is quit drinking and take excellent care of your health. Health is wealth.
Absolutely!
Very , very true !
The best retirement plan is reasonably good physical and mental health in the later years .
Smoke that weed and drink that Hennessy like this poor person
@M JA. Fine, but you don't need as much when you are healthy. One thing you gain is mental and emotional freedom; the ability to roll with the punches better and not feel trapped by artificial demands. No one can back you into a corner because you've maintained your health to the best of your ability.
Working on quitting smoking and drinking now I work 70 hour weeks at a power plant it is a great job but my lack of family time is wearing on me and I can slowly feel my health slipping I’m 34 years old and already can see the trap, we’re all just cogs on a wheel.
My old boss told me a story I never forgot. He said his dad worked, saved, worked saved…all for retirement & eventually being able to relax & travel. He ended up dying in his 50s of a sudden heart attack. He never got the chance to enjoy what he had worked so hard to save.
Sounds like my dad unfortunately. Made it all the way to 56 and was considering retirement in July. He unfortunately lost his life to Covid in February on my mom's birthday.
I'm sorry for your loss.
It took me 5 years to get to this realization . It's indeed a difficult decision at the end .
Exactly the parabole that Jesus Christ said in Lucas12:13-21
The ultimate vanity
That's what they hope for majority drop before collecting. Now more are living longer retired it's not a good investment for companies.
A good friend of mine worked for a company for two decades hoping that she was going to be able to "retire" and right before she could they closed her office to consolidate and laid everyone off. She wasted all of those years. She still kicks herself ten years later that she gave so much of her life to that company. The corporate world cares nothing about its workers.
Nobody should stay 20 yrs with a company . Being stupid is costly.
Im confused. She was about to retire anyway, so whats the problem?
You must be talking about her having a pension or something. Otherwise, if she had been saving money regardless, she'd be fine.
Most Americans work at a job, for a boss or at a company they absolutely hate, including me….as I’ve gotten older I have realized I would rather be broke and stress free with little materialistic things than rich and overloaded with massive debt and stressed.. life is short, njoy it.
I think Bukowsi said Job no job you're gonna treat me like a barfly anyway.
Usa IS f up re work
Other Americans start their own businesses that don't succeed or they end up with multiple bosses, their customers.
I started travelling in my 20s because i love nature and always wanted to see it across the world. Many people asked me why i was 'wasting time and money doing it', suggesting that i should wait till retirement. But the most high keeps providing for me! So i am not afraid to walk the unique path he created for me.
@Nature Photography This was really beautifully stated. Thank you!
Good on you!!! 😀
Same here
It's not "the most high", it's you and your own long-term planning (and financial common sense). Don't give away your power and/or attribute your hard-won accomplishments to someone or something else 🤷🏾♂️ Take credit for your own success.
More power to you! Drew Binsky's videos show me the amazing variety of the world. How I'd love to visit Pakistan, Prague! But here I sit at 66, in my wheelchair, rarely leaving my condo.
I gave up traditional methods of work going on two years now. Although the climb to financial independence is slower and in some cases tougher, I am MUCH happier with keeping MY time and having my worth and value in my own hands. Some of my friends are a bit envious that I don't have to live for the weekend or be afraid of Mondays anymore.🙂
Yes Yes Yes. I have had more freedom in my life than my friends will ever have. Retirement is a myth.
@@hpshifter7783 yeah as Tim mentioned in the video, I’m building up a UA-cam library as we speak and having fun with it. I also have some investments and a couple “forever incomes” from my time in the US Armed Forces.
So I’m doing pretty good but I do need to ramp up on more streams of income though. Hopefully my yt channel starts to do a bit better soon. ✌🏾
Happy to hear this
true professionals do not have weekends or weekdays. there is work and that is all
@@TheRealJaded thanks, friend.
Been working at the same job for 22 years. Looking back, it wasn’t worth it!
Gotta eat
Oh wow! Thanks for sharing your truth! Much needed.
@@keyshawnscott12 Gotta live too!
@@privatelifejust_4me true but unfortunately we have to drink and eat if we didn't life would probably be way more easy then it is now
@@keyshawnscott12 Seems as if your on the wrong YT channel.
There's nothing higher than freedom.
Agreed.
"That's just some people talkin" ..........EAGLES Desperado
When I was in my early 30's I got this really boring full time job for the "benefits", mainly health benefits. I was still at least semi into the mindset of my parents' generation. I thought it would be ok since everybody else lived like this it couldn't be too bad. WRONG!!! I got fired 2 weeks before the "benefits" were supposed to kick in. I was OVERJOYED!! A casual acquaintance asked me, "What are you going to do now?" He didn't really care - just being nosy. I told him that I would have to take very good care of myself health wise and get creative. That was 30 years ago. I've had different careers, but never jobs. Now I live off of passive income, have my own business, and love it.
What do you do?
I’m curious. What do you do for income now?
Are you an investor?
Happy for you E Mark! 🌼
@@kolacao8134 Probably makes ya holla fo a dollar!
Theres a small part of all of us that want to do what Tim is doing
Yea but then we come back to reality and realize this isn’t the smartest thing either.
not at all, this is too little for me
@@MagicSwizzlewhy not
Well @ 72 I can say I agree with much of what you say. At 58 I said get me put of here. Went to work seasonal because I'm a gypsy soul. Got rid of anything that did not fit in my car. I had a small 401K & 2008-09 destroyed it. Worked seasonal for a bit longer...took SS @ 62 & began hse sitting all over the US. Finally settled in an area that spoke to me & has room for much exploring. No debt...very few bills...I rent a tiny hse & I love my life. There is another way.
As someone interested in a tiny house, may I ask you how much you pay for renting one?
@@MrGwizyadig I would honestly say it would depend on the area. Where I live the rents are reasonable which is subjective but are rising just like everyplace else. I just landed in a fairly rural area yet small town. I stayed because it feels good to me. That's important.
@@allenesullivan2685I’m jealous allen! I’m 20 and strive to be just like that when I’m 70
I worked for myself for 40 years. I Saved 15% of my pay for 35 years, invested it in index funds, sold my business, lived debt-free, retired at 62, and have a comfortable life and generational wealth too.
If you don't mind me asking, what index fund did you invest in?
I don't think humans should work past the age of 55 years old !
" I don't want to settle down and live in one place forever, it terrifies me. It sounds like prison." 🤣
Finally someone who is able to articulate my thoughts 😄. No one understands why i like to move around so much. I think being in the military sparked that characteristic.
I can relate to it
I grew up in a military family, so I definitely can relate. I love this guy tho.❤🤣
But, at the end of the day, you're still trapped on this Earth. So, I guess we're all prisoners of this Earth.
@@MT-yx5cu man the same happened to me the military show me the word now i can't live in one place for more than 6 months
tim got that i don't give a f**k attitude and i love it. i'm applying alot of his principles to my everyday
🙏👍☺🙏
A lot is two words
@@stephenberlin7797 you spell it your way I'll spell it my way
@@Kingkongthugpassion2667 I see you got that attitude too....LOL🤣
He is soooo Right and Relatable.
He should run for President!
Lost my grandpa to Lung cancer. Funny thing is he always joked about never retiring because that's when his friends all died. He was retired 9 months and just fixed up an rv to travel the country before he was diagnosed and passed 3 months later.
Sorry to hear that.
Yup; my older coworker; kinda became my 2nd Father. Said his Mom lived to 85, so he'd live at least as long as 'she did..' I think he always said on a regular basis...
......Well, *most males are supposed to die at about 76.3 yrs; 78.1 for females, I read. Well..., he retired from State Service; as normal. He spent most of his retirement life, as I very clearly recall it, as he would drive over each Monday, and we would sit on my front porch, and we would have coffee, or drive down the street to have a breakfast.
Well, problem was: because I couldn't get hired, he began verbally beating me up, calling me a loser. Well, he finally cut me lose. Guess his daughter convinced him to leave his young friend, who loved him like a father....' behind..'.
Well, as things turned out: He purposely left me behind as the Pandemic began in 2020. Well, I got word last July from his daughter, that he had passed. Plus, as I went back and read one of his online obituaries, I read, that one of his favorite house lap dogs had died about the same time when he cut me loose. He made it to 77, and not 85 like his Mother. The Rule:
There'll Never Be A Post-it On The Frig The Night Before; Saying: 'I Will Die at 10:30 AM Tomorrow. ' .....😮😮
From 32-37, I stopped acquiring consumer debt, and worked my ass off to pay down the ~$18k I had in debt. Once I was only had a few thousand left and my low interest student loans, I started saving for my first rental property.
Have worked extra jobs in addition to my full-time IT job, and drove for lyft. Rolled my rental cashflow, all pay raises and bonuses, and extra income into the down payment for the next house.
Now at 40, I have 4 rentals and a fairly low stress life living in Guatemala.
The debt hole you start with often seems unsolvable, but little by little you can move to a position of surviving and then to thriving. Start somewhere.
I agree completely. I have a background in corporate finance and retired at 34. Worked for 5 years, lived below my means and invested everything. Now I live in Mexico and have a rental property along with stocks and crypto.
Crypto has been a life changer for me.... can't say much
pretty cool, but this would absolutely not be viable for most ppl...
Your American born, and just packed up one day and moved to Guatemala??
@@degoek you’re American born, but don’t understand basic grammar?
I intend to have multiple retirement plans. Love the idea of passive income. Yet, I am also considering a Roth IRA, "House hacking" , and etc. If one plan fails, I will have a few backup plans. I do not want to eat cat food at 70. As a former Social Worker, I have learned that this country does not care about seniors and it is sad.
Good job on waking up early. I hope more of "us" do same.
go to another country and say the same thing most of the other countries do not have anything for older people we do here.
@@nftshiller8485 ...huh???
LOL cat food! I'm 66, never dreamed I'd end up alone, sick, in a wheelchair. I did too much for others, got a kick in the teeth as a reward. Had to get over all that pretty quick. Condo, books, tv, Doordash, a lovely Bangladeshi Helper, life's good.
As a nurse. Ive seen enough people forgotten in nursing homes. I force all my assistants to start traditional IRA’s the max is 6k a year. Even if it starts at $50 a month. Scare them straight with these awful places.
I can't thank you enough for these videos you make. I'm nearly in tears after trying for 10+ years to fit a square peg into a round hole. I have bad ADHD and I can't stick with a job, even a GOOD one that I initially liked, for more than a couple years. I become completely incapable of doing it, especially when there's little to no growth opportunities these days. I have a job right now that actually will provide a pension if I stay for 10 years, I love my team, and I'm terrified to leave it, but my health is in such rapid decline that I don't know that I can wait until 65 to start living.
The 9-5 office life is not compatible with my brain and I feel caged (and horrendously guilty, as I'm not productive). It seems like everyone's lives revolve around their career, it's the first thing people bring up when getting to know you - "What do you do?" I just want to MAKE things, finish my graphic novel, do physical work in a local shop 20 hours a week. And I don't want to be ashamed of that.
I am exactly the same. ADHD makes it really difficult to fit into society's idea of what a life should be until you realize that it's all created to to make money for those at the top. None of this matters. The only things that matter are fun, comfort, love, and relationships. I'm still working not to feel guilty with being unproductive myself and it's really difficult!!!! But you only get one life, why waste it making other people rich?
agreed, you are NOT alone. same here.
Same. Actually, I was just fired from a job I loved after 3 years. It sucks that I'm still going through this as a grown man with kids to raise. I'm sad but confident enough to know that this will pass and I will continue going upwards in my career, health, and every aspect of my life.
I wonder if you spend time away from society- you’ll realize ADHD is man made..
"When my ashes will settle down, I'm gonna settle down"
Major respect sir
The longest I’ve spent at a job willingly is 6 months it doesn’t matter if they pay a million an hour once I’m bored I’m out or working a plan to get out. Which is why I’m a big advocate for travel work or contract work
Agreed as independent contractor is growing, and the best way to make and earn more. Working for yourself is an excellent choice as well! Two things absolutely agree with, and love!💙
are you my twin sister?
My solution to that problem is part time job. Ive been on my current job about 9 months now and already bored, but the 4 day weekends help me to forget that im working.
yeah, been stuck in my house 15 years running ebay biz, so glad it's ending and I can now move around and start my new business..good post
Excellent.
I so agree with you.
You will settle down when you are back home, where you gonna rest eternally. No mortgages, no fear of being evicted, no taxes.
Amen to that Gary, best wishes!
I HATE taxes.......
RIGHT!!!
We don’t know this…it’s probably bills on the other side too lol
@ Yea more 🤣🤣🤣
"when my cremated ashes settle down, that's when I'll settle down" 😂😂 thanks for that much needed laugh Tim!
This was a breath of fresh air. I agree 110%. Stressing over a job and putting in time is losing precious time of enjoying life itself. I'm in my mid 40's and I know I'm late to the key to investing to create passive income. I'm educating myself bit by bit into stocks, REIT, etc . This life of the America dream is til debt do us part. Need to wake up and tell yourself, this ain't it! Where's there a will, there's a way.
40s is not too late to start investing in your future, sista...! 💰✌🏾
Your thinking is so refreshing!
Yess
The concept of retirement is gone. Passive income is great, but you need a lot of capital to make it work. For example, if you save $300,000 and get a 7% return, you will be lucky to clear $20k after fees before taxes. Since investment income is taxed at the highest rate where I Iive with no deductions, you will be lucky to clear $14,000. If you don't reinvest some of that, the base capital will be worth less each year due to inflation. Can you live off of that? My health insurance costs more than that.
What I have been focusing on is building an online business that is not dependent on where I live. I plan to move to country with lower taxes and cost of living and retire there since I will need to work until I die if I want to retire in Canada or Western Europe.
@@1949coupe Come to Colombia. I am there now, as of April 2nd
Spot on thinking. I'm 35 and never kept a job for more than a year because there's no security and no room for growth. There won't be any social security by the time we are supposed to retire. Social security was created by a generation who actually cared about the elderly.
Facts ppl living off of it now are broke & can’t pay their property tax & might lose their homes or end up getting a revere mortgage because eventually if they do own a home it needs work that issuance doesn’t cover
Nowadays, many of us (66) are fully alone. It's a shock when people you counted on run for the hills, you don't even have an address nor phone #, as they don't want to be bothered. You can cry for one day, then you have to keep moving forward. I would've been better off being selfish.
Are you actually and truly _bragging_ about being a vagabond and irresponsible sir? At your age ...if you have "never kept a job for more than a year" something is wrong ...SERIOUSLY wrong in your life. I would seriously recommend professional therapy or counseling sir.
@@codecaine OR ...if you're _smart_ you might get with a great employer that has multiple employment opportunities in literally EVER conceivable employment category in existence (almost) and "switch jobs" promoting to higher positions ...or even switching to completely different jobs but still remain with the SAME EMPLOYER (Government: Federal; County; State; City) for long enough (20 to 30 years) to be able to eventually RETIRE ...and receive a MUCH higher income not working than the majority of middle-class people do who go to work ever day.
That is MY story ...and that of MANY other successful and VERY successful (7 to 8 figure) people that I know.
@@codecaine how did you do it? Can give any tips?
I'm 65. I recently attended the funeral of a close friend who worked hard most of her life for the same company because of the retirement benefits. Finally retired, she got to enjoy those benefits for four years. Not worth it.
Know someone similar…retired 6 years and passed away. Crazy
The government knows many will die too soon to enjoy retirement. Thieves.
Sad that's usa life
so sad
retirement = death. you should live and enjoy life while young and able bodied. being old SUCKS
That's why I'm not working at 21
If you think being old SUCKS then you're really in for a hoot when you're both old and broke, lmao. Broke and young, fine; broke and old, best of luck.
I hope I don't ruin your UA-cam statistics. I just found you and started listening, and then I see the title of the next video and get excited and click on that, over and over. You are so refreshing! I will go back and watch all of the videos in full, but you are feeding my brain and soul right now and I am in a minimalist buffet frenzy!
It's all good! I'm glad you are enjoying the content 😁
Hey Tim! This title was so click bait! 😂 Love this content! I’m no longer stressed about retirement! Who cares? I don’t , because I’m no longer waiting to live my life after I retire! Thank you for giving us realistic ways to view the world!
Yeah, Tim, it definitely was clickbait. But it was good clickbait!
I’ve seen you on other videos 😀
I'm living for this content😎 Love how you embrace CHANGE.
26 Years, US Navy. Good Pension, life is good.
Yes, this is what I'm talking about! Working for the government either as active duty military or civilian does pay off. I know it's not for everyone but job security and benefits for life can not be overlooked.
I got into comics a decade ago as a teen, and would watch this small channel of this cool dude named poet skinny. He would review the books he was reading and his pick ups. To stumble across this channel now as an adult and seeing you do well for yourself is amazing, Tim.
That’s awesome! It’s always cool to think back to the old poetskinny days. Glad our paths crossed again!
We actually have a Retirement Crisis in America. A large majority can't afford to retire or they do retire but barely getting by.
My grandmother lives very well on 1000 a month. It's just how you set things up in advance. Paid off tiny home, golf cart to stores, beach, etc.. She's been doing it for decades.
Don’t have any debt and have investments. Live below your means. By 40, a person should at least almost be done paying off debt ( except for properties) by that age.
Move out of America. Get another passport, and apply for permanent citizenship in another country. Those who can’t retire in America are more likely able to retire in a country like Thailand or Mexico.
@@taoist32 Agreed. I'd do it but want to be close to the family.
If you don't save for retirement, it's not my problem.
If you buy a $80K car and drive it for 4 years and I buy a $20K car and drive it for 12 years, don't complain that I have at least $60K of wealth more than you do 12 years down the road.
Homelessness is my retirement plan the way things are going. Extremely scary. Not worried about it though. It is what it is.
🙏☺🙏 GOD BLESS YOU...ME TOO!!! 🙏😊🙏
Retire in a country where the cost of living is cheap. Problem solved.
Who needs a home? Bob Wells says you don't! :)
If you have a car just door dash and live in your car
@@FG-yl3oj Africa, Sosua
Walk and talks slowly coming around again. I love it. Classic Tim.
Everyone kept asking me to bring them back lol. I finally listened.
I worked in accounting and my boss was a really nice man. We were buying lunch one day and he decided not to get guacamole on his sandwich because of the extra charge. I said, if you died tomorrow, wouldnt you regret not getting that guacamole? I decided a long time ago that I'm not going to live my life scrimping and saving for a life 40 years in the future. I want to live and enjoy my guacamole NOW!
I’m 32 from western wa, started buying tax foreclosure Realestate about ten years ago. Being fixing them up basically holding them with all cash no debt and I bring in $3800 a month Amd I own the house I live in cash out on five acres never made six figures in my life. I can retire now but I’m just following my passions of being in nature, and still doing Realestate
For the tax foreclosures do you have to bid on them? And also buy outright with cash? Thanks
Hey Aaron. Would you be willing to chat with me? I am 23 and my passion is being out in nature & always seem to try to figure out how I can get into real estate to either fix up and re-sell, rent out, or air bnb the property(s). Everyone I know tells me I’m too young and have no money and don’t have any chance of getting into properties and that even if I did I would owe on the mortgage for 30 years so wouldn’t be able to not work and make and I come from it. If this is anything you know anything about which it seems like you do would you be willing to share more/talk?
@@fivestar000 yes and yes
Aaron, you said you started 10 years ago and bought with all cash. How in the heck did you have that kind of cash at only 22 years old?
@@danmarjenka6361 I bought my first house for 25k cash it was a fixer, I buy crappy properties and sometimes have built my own house on them
I honestly love your personality. You give off wholesome vibes :)
Thank you!
@@TimothyWard the way you talk (style) sounds like Obama.
I think he sounds like him too, similar cadence:)
so do i!
@@TheCostOfLiving- Way better than that guy (OB)
I remember working at a company where a coworker had worked there for 30+ years. They terminated him before his retirement and hired younger consultants. The coworker basically begged to stay there until it was time to retire but they refused. His wife also worked there for a while and she just ended up quitting. It was really messed up and undignified the way they did it.
Also, separate question, I always wonder for those that move jobs often, how do you handle references?
Ask for a written reference on company stationery. They just need to put the dates you worked at the company ( if they don´t want to say anything nice about you!)
It’s not a simple transition. Sometimes I am fearful because I don’t have a retirement account and I don’t understand how people are making these things happen on the internet. I’m watching videos and things but I have a hard time understanding affiliate marketing and tech business strategy. Thank you for sharing your thoughts. We do need to pivot to some other ideas. The companies are using people because they don’t give pensions anymore. They quit on us but we keep feeding them. Need new ideas.
Retirement is a myth. I would rather have my freedom than being held down by some job I hate or having to take a jab.
Okay but you probably have taken other jabs. This video had nothing to do with the conspiracy theories of "the jab" if you have had IV or any other short the government could of got you then, so there is no point in low key trying to make like "the jab" is a death sentence. Surfing the internet daily and watching UA-cam videos is doing serious damage to your brain but you see no problem with that.
@@ladybird491 Brilliant response. Having to take a jab is my choice. Not the governments choice. As far as any other jabs, it was when I was a child, thus not being my choice. I was merely making a comment about how I am not working shit jobs for no money or having an experimental chemical jabbed in my body on behalf of big pharma.
@@hpshifter7783 but if you got severe Covid I’m sure you’d take Ivermectin and who do you think makes that??? 🤦🏼♂️
@@GlobalGreg Another BRILLIANT response. For 11 cents a pill WGAF. I have had Covid. And survived. I will trust my immunity. What do you idiots not understand about this? No man tells me what to put in my body. I am grown.
@@hpshifter7783 11 cents a pill? Vaccines are free so by that logic, just get one. You are grown? Could have fooled me.
Lowering your expenses is far more important than making more money. I live in central Florida I own my home ( no mortgage) I have ZERO debt. My fixed expenses minus food are $357 per month.
No debt is very very important! Renting your home is not a plan rent goes up most times faster than inflation.
This.
I live in Florida too and own my condo however they keep increasing the HOA??? Now it equals half price of rental $550? Do you pay hoa? What kind of house you bought and whats the total?
@@mahaalotaibi8352 - move, like yesterday. avoid HOAs like the plague.
It may be hard to do this, but when you get to the place where you have very little expenses - it's called financial freedom and it's great.
I am the same, over 40, not working, no savings and get constantly spoken to in a toxic way but I am smiling, because I know that I will always be OK and always have enough to get my bills paid.
What’s funny is I am always pushed by family members to get a job which pays a pension at the end of it. Although they are right, I don’t really see myself working for someone for a duration of 20 or 30 years, because I have seen people stick to a job with a long term plan and I have noticed one thing and that is those people aren’t happy.
How?
You are 100% correct!! I'm in my 50's and most people I know have nothing to show for the life of indentured servitude. The best most people can hope for is paying off the house, but that is 30 years, and most people don't do it. I have moved overseas twice, and it was the best thing I ever did for myself. I don't like the idea of living in my car, and when I saw several videos you made talking about it, it really put me off. But I like your general philosophy, and you are wise beyond your years.
Thanks for your simplicity, positivity and the attitude that everything will gonna be alright. We need this at this moment . Muchas gracias amigo!!
It's so awesome to see folks involved in a 'thought paradigm' revolution. Peace Tim, Be Well~~~
You’re speaking my love language, mate.
Been an NPS Park Ranger for 30+ years and don't ever want to retire. I know I have a good plan but I have no hobbies save working. I LOVE our National Parks, I feel like what we do matters, I love the people I work with, I love the feeling that I serve our nation, I love the adventure of my career, I love the places I've gotten to live, I love knowing that as long as I'm alive it's a good day. I quit drinking over ten years ago, never smoked, have two adult kids and one 9 year old, am a single parent, and simply have a blast reliving my childhood with my youngest. I have been enjoying your videos and I feel it's up to the individual to find what works for them. Keep quitting your job until you find that perfect one that makes you feel alive everyday.
Loved this comment Clarence! You seem truly happy!!!
❤❤
In my opinion, it’s not about just saving for retirement, but at least saving for rainy days or months , emergencies, like maybe if a pandemic happens
I agree about saving money for a rainy day. I do have an emergency fund, just not a retirement fund.
Exactly
I call that buffer cash. It's basically what my equities fund is. It's an attempt to counter inflation, while still maintaining high liquidity for things like real estate repairs and tools (which create tax deductions, which allows for more money to go back into the equities fund, etc.).
My retirement is physical assets and primary residence. How long can I go without resupply (food, water, electricity, internet, manufacturing, etc.)? The more years that answer is, the more "retirement" I have.
I started building my assets after I was homeless in my early adulthood. So, I think in terms of "years without needing income", instead of "dollars", which the federal reserve and U.S. gov seem hell-bent on rendering worthless.
Haha!! Love all this. As an independent artist I fully agree. Investing in your health is number 1 in my opinion. So keep going for those long walks.
I will 🙂
Please keep in mind that this nice man is not a financial expert, and he is merely giving his opinion. Just because someone says something on UA-cam does not make it the gospel.
I'm debating cashing out my 401k. Of course everyone advises against it, but no one else has lived my life.
I love the way you think Tim.
🎉Better do it fast! Take the money & run 🏃🏾! Go enjoy the world while working part-time doing something that makes you happy. 🫂🤝 My 2nd husband died at 45yo and never got to enjoy his retirement money. I tried to convince him to quit & travel before he passed but he thought he had more time 🕰️ than he really did. I believe life should be spent doing good in the world. Just NEVER give anyone YOUR earned money!!!! Keep your mouth 🤫closed about your resources 🤝and keep your wallet 💳 closed. Always Give them your care & advice. Good luck to you. 🎉
To me not worrying about retirement, has been common sense since forever. It's kinda funny to see people around me trying to play it safe as possible and not being able to live their best life NOW because of that.
Your future is bound to haunt you.
Niklas Welling- yep my parents missed out on living so they could live well in retirement. Now they have time and money but no health. Both were physically and mentally impaired by the time they reached retirement and they get worse each year.
I consider my retirement my physical assets, not a currency that can be rendered worthless on command.
How long can I go without going to the store? 25 years. How long without well water? About 10 years. How long with well water? About 50. How long without defense manufacturers? Lifetime. How long can I read without the internet? About 5 years. How much art and board game supplies do I have? Yes.
This is my retirement. I can 100% depend on it. It can't be destroyed by the fed reserve. It doesn't rely on trucking to bring stuff to the stores. It doesn't rely on electricity or water. It's surrounded by wet-cured high strength concrete and rebar. Short of Ceres crashing into Earth, I am set for life. That's my retirement "fund".
Nobody knows what is gonna happen in their future near or far ,even if they’ll get to “retire “
Many retire yes,but to the other side of the grass
I find way more easy and comfortable to be wise, live happy and simple,and trust in the one who cannot lie or die amd promised that if we put the kingdom of God in first place everything else would be added.
It's a ridiculous approach to life. Modern society is insane.
I'm in my late 40s and will likely follow what you will be doing. Thanks for sharing Tim!
I love the “not looking to settle down” attitude. I used to live abroad, teaching. I loved it. I’m back in the US and not enjoying the expensive lifestyle here. I’ve realized this place (USA) is not really for me. I do think it’s important to learn new skills and always be on your toes in terms of technology, etc.
My retirement plan is also traveling around and having a home outside of the US.
These people (mostly male pastors) are trying to get me locked down and married to a man of their choosing- NOT gonna happen. Lol. I pick and choose who I want to be with, where I want to go, and how I want to live my life.
Hey, where did you teach abroad? Fellow educator here. What steps did you take to teach?
@@devosirius I first taught in Korea with the company called EPIK (SMOE because I was in Seoul). I had my teaching license from the US, but it is not needed. I then went to China and taught at a college. I applied for that job online (I think Higheredjobs). Did the Zoom interview and hopped on a flight to there. While there, I met someone who worked for an international high school, and I worked there for a year. I would definitely recommend the proper international schools if you can get into them. They will have the best benefits. No need to pay a bunch of money, find some of the cheaper sites, or go directly to the school's website, and apply.
@@ms.rivera7898 thank you for that info!! what did you teach? You didn't need TEFL certification?
@@devosirius I guess I personally didn’t because I had a Florida teaching license which included an ESL component. I believe you do need one, especially now a days.
Usa sucks
I appreciate you so much on the topics you talk about .I woke up one morning and wanted a change in life i knew i wanted to be more free and be happy
I've worked in the Corp world for 30 years. I've changed jobs within my company every 4-5 years for some variety. I've done 401k and other things to save money towards retirement. Most companies do a match up to a maximum amount. So you figure out that maximum and then max yourself out there so it becomes a $ for $ match. So if they max out at 6k, you put in your 6k and at the end of the year 12k. Not as nice as a pension but I'd rather have something over nothing. I agree getting out of debt, and staying out of debt is key. But I also think saving for when you want to stop working is important. Having a passive income that's great, but yeah I think having something else to pull from later in life is wise also. I don't want to work until the day they put me in the ground. I also don't want to work until I'm 67. I must say it seems weird to me planning to work until the day you die. I know people feel that way, and they do it, but I also think if you ask most of them if that by choice, they'd stop working at some point if they had the choice. In any event, more power to them. A lot of what you said makes sense and I'm glad you said there are multiple ways to get there. I wish there were more passive ways to make income as these days it seems passive income usually means things like you tube, and putting yourself out there publicly which face it, not everyone is built for. Maybe a good video for one of these you tubers to post is passive income ideas that don't involve that....
I agree most of what you said but there an endless amount of ways to make money online (some passive, others require some continuous work). UA-cam is definitely not the only way.
@@No1YanniLover I’m not disagreeing, only saying I’m not aware of many. I’d love someone to educate me on something that is truly passive, meaning as you said would NOT require continuous work. And doesn’t involve putting yourself out there in a public way like UA-cam. I’m very interested in those.
That’s if you’re lucky to still be working for the company to get the match. Some companies don’t match until after 5 years which is ridiculous IMO. The company I work for now, I know I won’t be working for them long enough to get the match.
I’m still 25 but I’m counting on euthanasia to be a choice for people at some point.
I am 44. I have a bad track record of keeping jobs too. I get hired easy....but that grind....no.
Me as well.
Same
I have thought I could do two days a week if paid the basics. I don't have a car and live centrally located to most of what I like access too. Plus thankfully my rent is low. I want time for fun and hobbies.
My retirement plan is to be a crazy old bag lady with a shopping cart. Freedom 🌈
Having nothing means you have nothing to lose! So it is good in a sense, but today, one needs money to survive. Retirement is something people really think about after they turn 50 and find they don't want to be working paycheck to paycheck anymore.
Great video Tim! I just recently quit my job in the ND oilfield, after 12 years I was burnt out. I haven't worked in 5 months, and loving every day doing things I enjoy. Most older people I know are just shocked that I'm not working. People are in the mindset that you have to work full time, until your in your 60s and 70s. Tomorrow isn't guaranteed! I'm looking forward to selling my house soon and investing it into dividend paying stocks. I should be semi retired next year at 45. I'll do gig jobs for extra spending money. Thanks again for all the great vides!
I am a mix of both. I have investments, made some money in real estate, worked 9 to 5s that I hated. But now, I moved overseas, work a lot less, and I'm growing my online brand.
Another awesome walk and talk about a subject we can all relate to. Well done mate!
Dear Tim! Thank you very much for what you are doing! The more people quit their jobs the more enthusiastic companies will be to respect their employees!
Thank you for the great message and inspiration. I can relate on so many levels. And I agree, you can actually make an incredibly lucrative living all on-line and be free. There's a plethora more options now than there ever used to be. You also have a lot of wisdom and appreciate you sharing it through your channel. I subscribed and liked! 👍🏻
Thanks Ann! And welcome to the channel!!
Loved this! You're SO RIGHT on most of us just slogging and hoping. And when you said you'd be still "on these streets at 90" I actually snorted 😆 so funny but heck yeah! Stay 💪
I am so glad I found your channel! Found you through the video on where to park when living in your car. I bought a conversion van to live on $200/month, no rent, while I figure out my passions, after so many toxic abusive jobs that killed my spirit. Gotta get out of this rut! Thank you for sharing your experiences, it really makes me feel like less of an outcast!
You're not alone Sarah!!!
Strange how we’re happier with less money. It’s almost like money is something that is only meant to fill a void of emptiness.
Who is happier with less money? Void of emptiness... like buying food, shelter, medical treatments... such emptiness.
@@ev25zv
Maybe you’ll understand what he means when you have two pennies to rub together
Yeah, money is inherently evil. You're literally selling pieces of your lifespan to companies.
@@MrMountainchris
Money is not inherently evil. The love of money and greed are inherently evil
Good plan, I am almost 70 now and the biggest mistake I made was putting all my overtime into a 401K plan for 40 years. Now when I need it most for medical bills, the government is not only taking out all the taxes, which is a lot, but they are also charging me 4 times what everyone else pays for Medicare because they count my life savings as income in the year I took it out. In other words, they tell you to save in a 401K but it's really just a way for the government to keep a hand up your a$$ and in your business. . . they can change a law at anytime to steal more of my life savings from me. I wish I would have done what you are saying.
This was MASSIVE, extremely helpful and enlightening. Thank you.
Life expectancy is on the decline in the U.S. actually. Also, investing in crypto and real estate are considered high risk high reward investments. Definitely would not recommend people start out with those two when it comes to investing. The very first investment anyone should be doing is getting rid of any debt you may have. Second, invest in yourself, meaning spending money on something you love to do that can also help you build your income streams. Third, investing in dividend stocks is a low risk way to bring in some passive income without doing much of anything in terms of effort.
If it's any type of debt besides student loan debt then bite the bullet for 7 years and take the hit unless you're trying to buy a house. Why pay those fkers? Why not just save and let it fall off your history? Even student loan debt can be put into an uncollectable state if you tell them you're in jail. The phone calls will stop along with the mail.
High risk "potentially" high return - it can be really devastating sometimes with high risk investments!
The returns you can possibly get in crypto are so great that it's a market worth learning about. I wouldn't ignore it. I'm already close to retirement because of the investments I made. And no, I'm not an outlier. I have friends who don't have to work another day in their life because of crypto. The only outlier thing about me is the fact that I am a part of an extremely small percentage of people who took the time to fall very deep into the crypto rabbit hole, beyond just investing in whatever's popular on Coinbase.
@@flowerpower2726
Thank you for your comment. Would you please give me guidance in investing in crypto? So many crooks it just so scary
Thank u Tim!! The pressure is always to stay at your job!! Thank u for your transparency!❤
Passive income: the best source by far is to build a successful business to the point where you can hire others to do all the work, pocket the profit from their labor and retire with a great cushion. Second best is to be buddies with the FED and get your money for free and use it to buy up assets and then charge market rates for others to use your stuff.
@@jenbynature780 Much inspired by this , can you share helpful info on your advisor? I am looking to make a change on my finances as well.
@@jenbynature780 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees drain your portfolio. Is this the case with yours too?
@@jenbynature780 I will be checking this out, thanks a bunch for sharing.
Just about every economist said trumps tax policy would increase deficit spending and cause inflation. They were right.
@@luckynumberkevin2898
Overnight $2 trillion went straight to our national debt. Now the Republicans howl about it, once again absolving Trump, and themselves, of any accountability.
LOL!! Tim, that title....so funny. I think this is going to be another one of your most popular videos. People don't like to talk about it but you are definitely not alone. Coming in for the 50K subscribers home stretch...... Woohoo!!!
Good video Tim. Creative and out of the box thinking. I think you can succeed with this plan.
Dude, you're totally not crazy. Really enjoyed your video and appreciate you sharing your thoughts. Thank you.
I totally agree with you on this. To me it makes a lot of sense! 😊
Thank you for this video! I feel as if i'm in this massive shift in ideals when it comes to where I work and what I work for, and it's really useful to have someone finally try to teach me what 401k is. What I find crazy is that, if I didn't go out my way to search for these things, nobody would have taught me this in the schooling system. Once you hit a certain age, they assume you know everything and throw you into making these choices (i've steered clear to understand what I want out of life with my husband before hand) but thank you! These videos are very informative, inspiring, and make me contemplate my life to move forward in better ways than I thought of beforehand.
Even simpler, when you cant make anymore money, then its time to die, why hold on so much? We must learn to let things flow on their own. Be bold, be free, love with all your heart, mind and soul. Great videos man, love your energy.
Great comments Tim! I’m close to “retirement” and you’ve given me a lot to think about.
you are speaking what I feel already! Thank you for being a FREE SPIRIT! keep on truckin ;)
I can't keep a job for more than 2 years, either!
Don't have a retirement fund, and I never will. I won't be kept in a soulless job for fear of not having a pension. I don't care because I don't plan to deteriorate and die. I became self-employed last year and do much of my work online. Your attitude is so right! Staying put in the same place out of fear is the most terrifying thing I can think of!
I used to say if I ended up a bag lady on the street it will be ok because I had fun getting there. Then I got cancer. Even through the cancer would have eventually killed me, the chemo was determined to do it first. Changed my outlook on life in many, many ways. While I have no real regrets about how I lived my life, it would have been kind of nice to have put more money into some kind of savings plan.
The unexpected happens which is why insurance was created. The problem, insurance companies are greedy and will do everything possible not to give you your own money, just like banks. The healthcare system is completely broken. Having enough money for these unexpected situations is the smart thing to do.
@@taoist32 I wish that were possible. My cancer treatment total cost was $300,000+. My part was $10,000. And we have what’s considered good/great insurance. I’ve used universal health when I lived in Europe. It was great. Our health care system is just broken.
@@clrobinson1776 That is not surprising. My brother had cancer about 11 years ago, and just his hospital stay for one day plus testing was almost $50,000. That was before they even diagnosed the cancer. Then he had chemo and radiation for 8 weeks. Not sure how much that cost, but I bet the bill was humongous.
@@taoist32 I think health care in this country is what stops a lot of people from living their best lives.
Yap, I’m watching your videos 2 years after and your older videos 5 years after you made them. They’re still valuable today. What you’re doing is living your life, building your passive income to generate income till you ‘settle’😅 and building a legacy by inspiring people. What a brilliant and powerful thing to do.
Brilliant content, brilliant host and message. Thanks for sharing your truth with us. 💐
I enjoy your videos and admire your view on things. Stay true to yourself. I wish I had your guts to go on such an independent way of life
Thank you for all your videos. I love watching.
Hey, just found your videos, I'm 58. Have absolutely no retirement plan or money, am living week to week , the list goes on and on. You have given me some great ideas and motivational ideas to push on. Thank you!
I love your sense of humor and your positivity!
I’m young and just starting out and found your videos this week. I have a multi prong approach towards income in later years. Right now I’m investing in tax deferred or tax free accounts and on my own to get income. I think most people like 401k etc because of tax deferred benefit. I’m going with both and seeing which one makes me more later. It is helpful to start when your young though with 401k etc cause those are mostly about compounding.
You're doing well. Invest in your 401K and real estate.
This is Great!🙌🏿🙌🏿🙌🏿Keep going!!
You can completely control what your 401k is invested in. If you want to only buy apple stock you can. 401k are just typically taken out before taxes unless you have a Roth.
Thank you for the correction. As you can see I know nothing about 401ks lol
@@TimothyWard This is not completely true, you have some control over what you're invested in but not complete control like an individual brokerage account. My 401k gives me low cost index fund choices, i contribute up to my company match and rest in a roth and individual brokerage account.
@@kennethkyle8771 You can open a brokerage account within your 401k that you can trade stocks in.
No one knew how to do it at the company I worked for, including HR and corporate. It took several of us to figure it out on our own, but now I have a Charles Schwab app on my phone that I can literally trade stocks with inside my 401k.
Thank you for the video. I’m sure you’re right on a lot of points. Stay blessed.
You are the MAN !
Thank you for sharing with us.
DAMN son, almost 50k subs! Respect the grind. I've followed you since under 8k or something. Lol at the whole UA-cam thumbnails game, facials.
I’m going down in spending. I bought a house so my costs are pretty low and stable. Going to get a different job that doesn’t include weekends, even if I have to go down in pay. Can’t stand taking insurance claims from yelling a-holes all weekend while others are out enjoying their lives
Thanks for sharing. Step up your game brother. You're on your way!
Bruh, you crack me up. 😆 Such a fun and real video, keep em coming!
I definitely appreciate the different perspectives but my 1st thought was what if UA-cam and other platforms become demonitized completely
omg ur vids are soo inspiring bruh its not even funny, I've always thought this way too ( still do) I'm glad ppl like u exist, such a breath of fresh air. Ur too awesome tim!! x deff gonna follow your journey on here
Hello Tim :)- Spot on video as this is an extremely realistic video that I believe that most people do not seem to realize in this day and age!!! Companies do not care about their employees and a lot of people are now considered "independent contractors" such as myself. Kudos to you!!!
‘Ima be in these STREETS!’ Hahaha i died. Tim i love your videos you inspire me, please never change 🙏🏼