Not Enough Savings For Retirement?

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  • čas přidán 29. 06. 2024
  • Income Ideas for MORE INCOME in Retirement.
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    TARA MARTINSEN'S HOME BASED BUSINESS: www.taramartinsen.com/
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Komentáře • 219

  • @willow6726
    @willow6726 Před rokem +58

    Thank you for this encouragement. In a society that is so fear-based, your innovative way of thinking is so refreshing and inspiring.

    • @FinancialFastLane
      @FinancialFastLane  Před 10 měsíci

      After you reach full retirement age yes, it is considered retirement benefits from that point forward.

  • @mikebuckley46
    @mikebuckley46 Před rokem +68

    So many people have turned their passion for some thing into a good income in their retirement

  • @JustMe-cs5zq
    @JustMe-cs5zq Před rokem +148

    I am 61 years old, and for the past few years have been developing and trying out new patterns to have my own sewing side business. It's a dream I've been holding in my heart for a long time. I plan to sell online and at craft fairs. I'll be sewing anyway because I love it, so why not develop it into a supplemental income!🎉

    • @Duke_of_Prunes
      @Duke_of_Prunes Před rokem +5

      My mother-in-law had a waiting list of wealthy clients for her sewing business in New Orleans. She did clothing and alterations. But she really made money on draperies for big fancy houses. She occasionally did upholstery as well. Best of luck with your business! 🙏

    • @JustMe-cs5zq
      @JustMe-cs5zq Před rokem +1

      @@Duke_of_Prunes Thank you so much!!!

    • @Duke_of_Prunes
      @Duke_of_Prunes Před rokem

      @@JustMe-cs5zq No problem -- hope you find every success!

    • @JustMe-cs5zq
      @JustMe-cs5zq Před rokem +2

      @@Duke_of_Prunes Thank you again!

    • @ethanwaynebell
      @ethanwaynebell Před rokem +1

      This is amazing! Great idea

  • @Lemariecooper
    @Lemariecooper Před 11 měsíci +215

    Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.

    • @Lemariecooper
      @Lemariecooper Před 11 měsíci +1

      One crucial aspect of earning profits from stocks is to avoid being frightened and selling them prematurely. It is vital to understand that stocks should not be treated as mere lottery tickets. Consider acquiring the assistance of a financial advisor to navigate your investments.

  • @patty3451
    @patty3451 Před rokem +20

    This is the most encouraging video that I have come across in a long time. I am 59 and on my entrepreneur journey and I am accomplishing my goals. As a man thinketh so is he, Proverbs 23:7. Continued blessings to you and your family.

    • @FinancialFastLane
      @FinancialFastLane  Před rokem +2

      Happy to hear it, thank you! You may appriciate this video as well czcams.com/video/VYWLNoQPZCQ/video.html

  • @donnasimpson9731
    @donnasimpson9731 Před rokem +11

    Finally someone that can offer realistic ideas that anyone should be able to do.Thank you

  • @cdmorrissy3692
    @cdmorrissy3692 Před rokem +56

    When I realized I would only have $220,000 at age 66, I decided to "semi-retire" in The Philippines, where the cost of living is about 50% less (overall), and a $2,000 monthly
    budget (there) would enable me to live VERY well, and with my (tax exempt) income from Social Security, savings interest income and about $1,500 from working about
    50 hrs. monthly (doing CAD architectural drawings for a U.S. company) I could pay all my expenses (including a top grade private health plan) and still SAVE approx.
    $30,000 yearly. I researched a number of other countries, but The Philippines was the best choice for me, and in 5 years (when I'm 71) I'll have about $400,000 in savings
    and that, along with cost of living increases, increased interest income and whatever part time work I do will only increase my assets, well funding the rest of my life in
    P.I. I also have other connections for U.S. work I could get, and maybe I'll work additional hours and "load" my savings even more.

    • @whitway
      @whitway Před 9 měsíci

      This is my plan as well especially since my wife is from the PI.

    • @krisreddy5950
      @krisreddy5950 Před 4 měsíci

      I am also 66. Does the Medicare coverage is available in the Philippines.

    • @cdmorrissy3692
      @cdmorrissy3692 Před 4 měsíci

      @@krisreddy5950 No Medicare in P.I.

  • @johnhutchison2268
    @johnhutchison2268 Před rokem +25

    Great ideas. My wife died 9 years ago. I had an old five bedroom house which I did not know what to do with. My daughter suggested I get lodgers. This is one of the best things I have done from work to retirement it gives me monthly income and I enjoy different people staying in my home. I appreciate this is not for everybody but if it suits it is a great way to earn cash in retirement as well as having company in retirement

  • @jeanetterawlings6132
    @jeanetterawlings6132 Před 10 měsíci +4

    I just finished watching your video and enjoyed it greatly!! I’m 62 years young!! After being a single parent and battling mental illness (anxiety and depression) I ended up relocating from California to a much cheaper state (AZ) I didn’t know anyone in AZ. I only moved to be able to financially take care of myself. Before I moved, I got a job with the federal government since they have jobs all over the country. Also, the federal government didn’t discriminate against elderly people (I know it’s illegal to discriminate, but we know it exists) by the grace of God I found an amazing Bible based church. I was able to purchase my own home. I’ve had challenges since relocating but with God I’ve been able to have some retirement with equity in my home (doubled the price of my home) where I didn’t have ANY BEFORE THE MOVE. I ended up using several of your ideas and didn’t even realize it. I have subscribed to your website to keep updated on any additional ideas/information on income generation!! Thank you for taking the time to put this video together. It is so needed 🙏🏾

  • @MarylandMermaid
    @MarylandMermaid Před rokem +7

    Still working at 76. I am continuing my pet sitting service until I can’t walk. It’s been 30 yrs. Can’t walk dogs any longer, but fine with cats, birds, small animals.

  • @keaneilweralekgobo9545
    @keaneilweralekgobo9545 Před rokem +14

    Thank you Sir, you saved me from myself. The Lord bless you for I’ve just beaten up myself hard for failing to save and not having anything on my retirement 🙏❤️

  • @helened6896
    @helened6896 Před rokem +28

    What a great, inspiring guy. I appreciate your kindness and time to offer ideas to others. I have worked on my own before and am preparing to so again. I understand the truth that nothing is impossible. Many don't. Thank you for caring for others, and continued success to you and your family.

  • @maryibanda6018
    @maryibanda6018 Před rokem +12

    I am so glad I came across your video I was feeling as if time has passed me by. Thanks for the encouragement

  • @guruthossindarin3563
    @guruthossindarin3563 Před rokem +9

    I'm thinking about living out-of-country on social-security while letting my IRA grow, then returning to the U.S.A.

  • @Savannah-ed4rv
    @Savannah-ed4rv Před rokem +9

    Thank you so much for this video! It's so encouraging to see so many ideas and one place that are not based on wanting to be a millionaire entrepreneur! I could see myself looking at several of these ideas so thank you very much 😊

  • @RuralmoneyOfficial
    @RuralmoneyOfficial Před rokem

    Thank you, Mr. Martinsen. I really do enjoy your videos! I am faced with some challenging decisions, so your ideas and guests are making it easier!

  • @ninamgtez
    @ninamgtez Před rokem +4

    Thank you for all your generous and free information. I learn from you alot. God Bless you and your beautiful family.

  • @jmdjmd3214
    @jmdjmd3214 Před 8 měsíci +2

    Thank you so much for being so positive, to give practical advice and encourage so many despondant anxious people who dare not beleive in an pleasant" old age" future.

  • @donnawashburn1638
    @donnawashburn1638 Před rokem +19

    Rentals are a whole new ball game that comes with tons of headaches!

  • @SimpleeYours
    @SimpleeYours Před rokem +8

    Great video! Thanks for the retirement income ideas.

  • @judithbuchanan9566
    @judithbuchanan9566 Před rokem +8

    New follower here 👋🏽.
    I LOVE your wife’s story!
    Thank you so much for sharing 🙌🏽✌🏽.

  • @ethanwaynebell
    @ethanwaynebell Před rokem +12

    This is such good information! Maybe in retirement I will give fly fishing lessons.

  • @raineynight
    @raineynight Před rokem +3

    I really appreciate this info and your insight. Thank you

  • @cherylwooten7831
    @cherylwooten7831 Před rokem +1

    Thank you for sharing these creative and inspiring ideas!

  • @laurice8056
    @laurice8056 Před rokem

    Very sound advice given in such a calm and reassuring manner. I’m a new subscriber. Thanks for sharing!

  • @dianelim1655
    @dianelim1655 Před rokem +9

    Loved your own lovely family story.

  • @adrianehill8291
    @adrianehill8291 Před rokem

    As always, it is a great informational, inspiring, and encouraging video. Thank you!

  • @MyNmeIsJordan
    @MyNmeIsJordan Před rokem +3

    Great video! Thank you!

  • @valerielloyd655
    @valerielloyd655 Před rokem +15

    Thank You Sir for this informative and encouraging video. This was a right now video for me and it was confirmation as well for my life. Please continue to educate us and you and your family Stay Blessed❣️

  • @thomasjohnlynch
    @thomasjohnlynch Před rokem +6

    Now I am having to get a frame for the CS Louis quote about homemakers. 😂

  • @Humester12
    @Humester12 Před rokem +4

    Great ideas! You always explain things so coolly and thoroughly. Some of these ideas i have thought on my own like renting out to Airbnb or renting out the basement. I am thinking of creating a website to promote my IT web-building services.

  • @sheilagardner5199
    @sheilagardner5199 Před rokem +1

    Such great information! Thanks so much!

  • @elsaflores4481
    @elsaflores4481 Před rokem +1

    Thank you for such great information. Bless you.

  • @amaliamorales5606
    @amaliamorales5606 Před 6 měsíci

    Thank you for the tips. I'm looking forward to more .

  • @giselerenaud575
    @giselerenaud575 Před rokem +1

    Thank you for great advice. I will think about it.

  • @almaalcantara9620
    @almaalcantara9620 Před rokem

    This video is very encouraging. Love it!

  • @suekay5782
    @suekay5782 Před rokem +1

    I'm in the UK, but I really liked the way you presented this, very useful, thanks.

  • @jmjcc5
    @jmjcc5 Před rokem +3

    I love your wife’s experience. Thank you for the video.

  • @jessicagomez7712
    @jessicagomez7712 Před rokem +1

    Thank you . That was en encouraging. I need it that.

  • @adetutuoke395
    @adetutuoke395 Před 5 měsíci

    Thank you so much all your encouragement. God bless you richly

  • @Tammymarine
    @Tammymarine Před rokem

    Thank you for trying to help people and provide hope! :)

  • @roberthutchison8416
    @roberthutchison8416 Před 10 měsíci

    Thanks so much, you really make a scary subject something that we can all talk about and handle when proceeding carefully.

  • @jhoycealamer6839
    @jhoycealamer6839 Před rokem +1

    Thank you for this i happend to just being curious about your show i ended up writing it down for my ideas little notebook 😊

  • @v.ktjiueza2870
    @v.ktjiueza2870 Před rokem +1

    Even though I'm not on my retirement age,I will keep the whole information in my mind, because it's loud and clear, I wish you will become my academic lecture.👌👌

  • @Digitalmedia4less
    @Digitalmedia4less Před rokem +3

    Great video and powerful message. I'm now a follower. Keep the great content coming.

  • @wlpang1896
    @wlpang1896 Před rokem

    Thank you for the great video and advise.

  • @suzannemarieclinton1635
    @suzannemarieclinton1635 Před 10 měsíci

    I like your channell. It provides straightforward helpful advice.

  • @macopa12
    @macopa12 Před 4 měsíci

    Thank you for the tips and encouraging ideas. This is a very helpful video.

  • @wendykornfein3337
    @wendykornfein3337 Před rokem +3

    Very helpful. Thank you.

  • @BlakeRobert777
    @BlakeRobert777 Před 7 měsíci

    Thank you so much for the motivation.

  • @araceliperezdelavega8833

    Thanks for this excellent and free advice it is very helpful

  • @emmamartinsen1309
    @emmamartinsen1309 Před rokem +3

    Great video!

  • @stephaniegoldman5830
    @stephaniegoldman5830 Před rokem

    This is soooooencouraging thank you!

  • @marthadominguez7701
    @marthadominguez7701 Před 11 měsíci

    Thank you very much for giving us ideas.

  • @kennedynthiwa5100
    @kennedynthiwa5100 Před rokem +2

    Very informative presentation. Loved it

  • @abigailfolowoshele3527

    Thanks 🙏 so much for this wonderful ideas. So relevant to my situation. God bless you.

  • @accuratetaxes5504
    @accuratetaxes5504 Před rokem

    Thank you so much! Great Ideas

  • @floaretudorache9287
    @floaretudorache9287 Před rokem +1

    Thank you for doing this

  • @angelineweerasinghe366
    @angelineweerasinghe366 Před rokem +2

    Thank you .Great👍 keep it up.

  • @chandrakowlessar5790
    @chandrakowlessar5790 Před 8 měsíci

    Very encouraging.Thank you.

  • @francisgomes2335
    @francisgomes2335 Před 11 měsíci +1

    I am exactly at the stage now, like you described above! Your talk has motivated me to do something. Thanks

  • @Prayers-on-Fire
    @Prayers-on-Fire Před 11 měsíci

    I enjoyed the advice, and great video!😁💗

  • @missymyers7043
    @missymyers7043 Před rokem +9

    We’ve never owned a property we are 65 and 58 no children. We rent and are both self employed and have no investments or retirement yet no debt. However, It feels like we failed life. My husband is 65 and has done the same construction type job for 40 years and he can no longer physically do it and doesn’t know what to do. It is very overwhelming, scary and feel very alone.

    • @FinancialFastLane
      @FinancialFastLane  Před rokem +2

      You may find this video helpful czcams.com/video/VYWLNoQPZCQ/video.html

    • @missymyers7043
      @missymyers7043 Před rokem +1

      @@FinancialFastLane thank you for taking the time to respond. I will listen with my husband this evening. Best, Missy.

    • @evaallen9728
      @evaallen9728 Před rokem +6

      If your husband is willing you can start a CZcams channel to teach some of his skills. It takes time to grow a following but you can do it together and may find it is fun. People want to do DIY projects but need guidance from a pro like your hubby.

    • @missymyers7043
      @missymyers7043 Před rokem +1

      @@evaallen9728 Thank you for the words of encouragement! He mostly did roofing so not really a DIY project…however he does know how to do other construction projects. Something to ponder for sure!

  • @artisttl
    @artisttl Před rokem

    Great ideas! Thanks!

  • @markking3755
    @markking3755 Před rokem +5

    the best strategy you can have for retiring is to get completely out of all debts you have if its something that is able to pay off then pay it off there are things you are not able to pay off at all. things like your water and garbage bill your electric bill your car insurance unless you get ride of your car that is then you would not need car insurance then things like this that you can not completely pay off at all every thing else you can pay off when you pay off all these debts then you will be able to see that you really do not need that much money to live on then so pay off your credit cards all of them then your car then your house. if you are not sure how to pay off all these things then you need to go listen to dave ramsey then on how too. this is thte most single thing you can do for your retirement before you retire.

    • @curiouscat3384
      @curiouscat3384 Před rokem

      Yes yes yes! The best thing I did before retirement was to downsize to a small house I could pay cash for. My car is 20 years old and paid for but I budget $100 per month for repairs which is working well. Some years I spend zero, one year I spent $3,000! I believe those two items are at least half the budget for most people. I love the freedom from worrying about rent or mortgage. And Dave Ramsey is the best!

  • @luisalomavatu3514
    @luisalomavatu3514 Před 2 měsíci

    Amazing vìdeo. Appreciate the challenge and encouraging talk .

  • @timbawangu3038
    @timbawangu3038 Před rokem +1

    Great content ❤

  • @halcyondays816
    @halcyondays816 Před rokem +3

    Awesome information

  • @kathleenetchison7539
    @kathleenetchison7539 Před 9 měsíci

    This was extremely inspiring! Thank you! 💕🙏🏻💕

  • @modupeochim4005
    @modupeochim4005 Před rokem

    Thank you for this information

  • @samsonoluwatayo9231
    @samsonoluwatayo9231 Před rokem +1

    Good content, keep it up.

  • @JH-hc5dv
    @JH-hc5dv Před 4 měsíci

    Wonderful!!! Thank you.

  • @michaelezekiel3506
    @michaelezekiel3506 Před 11 měsíci

    Great video many thanks 😊

  • @josephineatieno2600
    @josephineatieno2600 Před rokem +1

    Wonderful Suggestions

  • @sherrymiller7709
    @sherrymiller7709 Před rokem

    Awesome info!👍😁

  • @serenitypeaceandcomfort3669

    I'm seeing such ageism in hiring practices-it's frightening.

  • @adenreleikumapayi7861
    @adenreleikumapayi7861 Před rokem +1

    Thank you so much for the presentation. I discovered sometimes last year I've lived in a liability apartment for over 11 years. It's been difficult convincing my spouse the need to arrange for 2 unit of one bedroom apartment from the present apartment to earn extra money now and in the future.

  • @lorenablanca5813
    @lorenablanca5813 Před rokem +2

    Thanks so much. 🙏💕

  • @fjenk123
    @fjenk123 Před 11 měsíci

    Thanks. Good content. ❤🎉

  • @janetmumbasapau6413
    @janetmumbasapau6413 Před 11 měsíci

    Actually I had an idea of renovating my small apartment to give me extra income now that I have heard from you sir I feel more motivated. Thank you for speaking to me

  • @ramkrishnasapkota9587
    @ramkrishnasapkota9587 Před 11 měsíci

    Excellent ideas! Thank you so much for sharing!!!

  • @debrahayes1520
    @debrahayes1520 Před rokem +2

    Very good information

  • @billtalkington664
    @billtalkington664 Před rokem +1

    Finding side hustles, part time work or small business opportunities are plentiful. You just have to want to do it. I plan to sell my company soon and start another adventure to keep busy. But it will be part time and i love doing it. That's the most emportant. Enjoy what you do.

  • @kimrodriguez1698
    @kimrodriguez1698 Před 10 měsíci +2

    Thank you for sharing your creative ideas. First of all It's a relief to know that I'm not alone in having a shortfall in my retirement savings accounts. Time to move forward!

  • @evaallen9728
    @evaallen9728 Před rokem

    These are some great tips. I have a long enoigh time until retirement but am always looking to increase my retirement savings. We can start some of these suggestions now. New Subscriber. Much love from Canada. 🇨🇦😊

  • @b.leeconner8682
    @b.leeconner8682 Před 10 měsíci

    Thank you for encouraging us to think out of the box, I have some ideas I want to try out. And I've been busy taking care of my family and working.
    So while I'm doing all I can for my family, I am going to take some time for myself to make my passion into a business. I just made 62 August 4, it's time. I still work for an employer and I'm doing some reading on the side hustle I want to do.
    God Bless You for encouraging us baby boomers to continue our lives.❤😅❤

  • @audreayoung7527
    @audreayoung7527 Před rokem +2

    Thank you... my dream job is that of your wife's... you both opened my eyes and given me renewed vision... I will be enrolling in midwifery school as soon as I have all the details. I have been praying about this for so long... I asked God for directions....and he sent you.
    I just came across your channel and decided to listen. Thank you... I am 50, and it's not too late 😊
    P.S. it's much deeper than I write in this comment😢
    May God continue to bless you in all your endeavors.

  • @suniphagluaymai5756
    @suniphagluaymai5756 Před rokem +2

    Thank you 🙏

  • @user-vx4pl6mv2k
    @user-vx4pl6mv2k Před rokem +1

    Thank you.

  • @alicenanjuwa4364
    @alicenanjuwa4364 Před měsícem

    This is one of senior encouraging content I have come across. Great video. I am 60, living in Africa, still working and I would love to quit work. I love my job but with age, it is draining as it requires alot of energy. I am tired but I have no realistic savings. I have alot of talents from baking, smoked foods and tailoring and designing. Hope I can make out something.
    Thank you so much

  • @jefferyhartwell9102
    @jefferyhartwell9102 Před rokem

    Awesome thanks

  • @bigrichdude
    @bigrichdude Před rokem +3

    Just move to SE Asia and live on $1,000 per month. And super nice people. No Mass shootings.

  • @aprilm4423
    @aprilm4423 Před rokem +6

    My solution is to PURCHASE business(es!), mostly in the medical field--because of the high ROI (Return On Investment) and have management companies handle the day-to-day affairs. I'll also change careers, medical field again, have my own business to protect myself from age discrimination. Never retire, but only because I don't want to. For investments, I'm paying attention to Dave Ramsey.

    • @sojournerhouse
      @sojournerhouse Před rokem +1

      What medical system business are you starting?

    • @aprilm4423
      @aprilm4423 Před rokem +2

      @@sojournerhouse My plan is to buy a physical therapy practice. I'm not going to start anything, because I'm too lazy for that. I have no time to build because I'm about 11 years away from retirement, and my plan to change careers into the medical field will have a huge price tag. No side hustle here! I need a business that is well -established and and running full tilt from Day One. The answer for me is a physical therapy practice, with a staff that stays in place.
      I chose physical therapy because one, my home state, Ohio, says I don't have to be a doctor myself to own it (but a physical therapist must run it). And, two, physical therapy practices have the highest ROI Return on Investment. If a practice is already making a profit as soon as I sign the paperwork--let's just say $100,000/month-- then the business is already making enough to pay its own bills, including the management company's monthly fee. After all the expenses are paid, the rest comes to me. From Day One. My retirement income problem is solved.
      The smart thing for me to do would be to take all the 'extra' money paid to me from the business--to buy other businesses. And artwork, from well-known artists that always increases in value. And other sound investments. No more retirement income problems. I would work because I would enjoy it. Limited generational wealth through a family trust that I establish, and charitable giving, for when I don't need the money anymore. Retirement income problems solved.

  • @user-zn4je5oi8d
    @user-zn4je5oi8d Před rokem

    Ευχαριστώ πολύ 😊

  • @CraftyRecycler
    @CraftyRecycler Před rokem +1

    Thank you

  • @Avacadofrommexicoyeah
    @Avacadofrommexicoyeah Před 2 měsíci +1

    ADUs not allowed in most places but they should be

  • @wt3435
    @wt3435 Před rokem

    I m 62. Retiring soon. Thank you❤

  • @ionafernandes3681
    @ionafernandes3681 Před rokem +4

    Dr Sir,
    Appreciate ur motivation n positive approach towards developing one's skills to reach d desired goal of hw to go abt carrying on one's day to day affairs in life.
    However, I wld like 2 say tat these facilities r lagging behind fr a developing country like India. A lot of taxes r being imposed on these facilities n deter us frm our growth. These taxes r taken & then converted fr one's personal gain. To add to this, I wld like to say tat when the question of WFH is undertaken, many many obstacles r found in the work done, and instead of gaining some investment, more discouragement is created so tat one is robbed of one's earning. Even if u r gd at work n r doing it by putting ur full potential, always u r discouraged by d party pointing out sum faults or d other n instead of earning an addl income, they deduct d amt by finding sum fault n discouraging you frm earning capacity. As a result even after putting in tremendous effort, no income is generated becoz they only try 2 get d work done frm u fr their selfish motto to increase d profit frm their pt. of view. All foreign countries hv developed n hv given a wider job opportunity fr one's personal growth, which is sad to say, it is not so in India n many r left unemployed. There r no proper jobs where one can secure oneself as is the case in foreign land.
    However, Foreign Govt. encourages ppl in all these activities to promote one's well being n 2 see to it tat no one is below d poverty line. But it is not so in case of India. One hs to struggle a lot to cum up in life as there r no growth opportunities n even if it does exist on a lower level, no addl income can b generated.
    I do hope n pray tat the same is offered here in India n d success rate improves especially fr Middle Class Poor.
    Gr8 ♥️ n affection fr ur promoting this Video. But I hope n pray 2 see a better vision fr r Middle Class (Poor) section. Till then Gd Bye!!! N hoping 2 see u in d next Video.

  • @BeHappy-rq9ql
    @BeHappy-rq9ql Před rokem +1

    Boss thank you... 🙏

  • @bennied2757
    @bennied2757 Před rokem

    Thanks!