Debunking 3 Retirement Myths - Beware! Failure to know these can result in working longer
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- čas přidán 17. 05. 2024
- 3 myths I discovered during retirement. Many people continue to work because they believe these to be true. Can I retire now? Retirement planning
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Never concerned myself with relevance, just freedom.
This was probably my favorite video of yours Joe! "The graveyard is full of irreplaceable people". Very helpful!
Glad you liked it!
Hi, I was going along ok and than BAM, heart attack.
Back at work again, drugs keeping no3 at bay but I’m looking at retiring in 7 years if I make it.
Interestingly look at your survival rate graphs when it, mine was a 5 year one, the wife’s was 10 years.
My brother doubted me, so I got him to look it up in Google.
78% were dead by the end of a 10 year graph for me, that’s why they used a 5 year graph for heart attack survivors.
Live your best life now. M
You're spot-on, Joe! I retired in December and dropped into first gear and my time is now taken up with travel, learning the guitar again, and volunteer work. I do not miss the project deadlines and extended meetings. Thanks again for the confidence boost to pull the plug and enjoy life!
When I jump off the hamster wheel the only thing I’m going to worry about is what’s going on out in the garage today! From watching my older siblings (I’m the youngest of eight) I’ve also decided I will NEVER watch the news in retirement! Far too many of my siblings spend the majority of their day sitting on their duffs in front of the TV getting angry about whatever “outrage of the day” is playing on a constant loop - painful to watch………😕
Three things to avoid/detach from to improve your outlook.
1. News
2. Social media
3. Stock market
😊
I retired at 56 when my boss requested I jab and come back to the office. A year later I took another remote job because the pay and sign on bonus was hard to turn down. Plain and simple I was greedy as I was financially sound. I just turned 59 and life reality is straight and center on my mind every day. Another year wasted - thanks again for the wake up call Joe. 🇮🇪
I’ve been retired a bit over 4 years now, and my wife is about to retire later this year. We were just talking about what I’ve accomplished since I’ve retired. Here are a few highlights. Implemented an estate plan with a trust, wills, POA’s etc.; developed a retirement plan - still in progress but looking much better than I ever expected; travel - Scotland 3 times, most recently for our daughter’s wedding, river cruise and Italy, Switzerland, Austria and Germany tour, and heading back to Europe next week for a Norwegian Fjords cruise for my birthday; providing care for my mom with dementia; improved my Sudoku skills; taken steps to improve my physical and mental health for the long-term; setup a donor advised fund to support on-going charitable giving; learned to speak Italian to the level I can actually communicate (being bilingual was a lifelong goal). No boredom here, and can’t wait to see what we can do once we’re both retired!
You are an inspiration...thanks!
I'm retiring at the end of this month (woohoo!) but have been easing into retirement by taking time off on Fridays and Mondays. I have really noticed that my attitude has been changing as I've gotten closer to retirement. As recently as a few weeks ago, my focus during the weekends was getting a lot of things done (chores, errands, social activities with other people who also work full time, etc.), and I always felt some time pressure. Often, my weekends were not very relaxing. Now that I know I'll have unlimited free time in the near future, I've already eased off on pushing myself to do a lot on my weekends, so I am now much more relaxed and enjoying the time off. It makes a huge difference. This is the thing that I am most looking forward to in retirement - having as much time as I want to just be, to relax and not put pressure on myself to always be doing and accomplishing things.
Exactly
I’m in much the same position, looking forward to finally pulling the trigger on my retirement in a couple months
Joe, writing a book is an amazing accomplishment, whether it is financially successful.
Retired 6 months ago and LOVING not being relevant at work anymore! I am relevant to a 3 year old, 18 month old and 9 month old, that's what matters now. Retiring early is also giving me chance for some fun trips with my parents while they are still active! Never bored, happy every day!
Three more weeks and I'll be retired. My replacement has been hired and I'm geared down and ready to go. First of several retirement parties today. House reserved in Hawaii for a month in the dead of this winter. Bring it on!
“The cemetery is full of people of irreplaceable people.” Haha.
Yep, and nobody is more focused on your best interests than you. If you’re bored in retirement or even before, for that matter, that is on you! The only times in my life I’ve been bored is when I was not in control - like in corporate meetings… or in school classes.
You make your retirement life!
I never feel better after watching the news. So, I have stopped…
Interesting thing about relevance at work -- I recently moved up to a supervisory position, but I truly believe those working under me are more relevant to our outcomes than I. I am lucky to have a great team of folks, and I am happy to let them get recognition for work well done -- they are the ones who truly deserve it. I'm not hooked on relevance whatsoever.
Servant leadership.
You are a great team leader and a very decent human being then.
Great watch Joe just followed your lead at 55 and have the doubts but just have to go for it !
Courage!
Joe: I remember you saying how you plowed through your to do list way too fast when you retired, so I've taken that to heart. I've been retired six weeks, and started a project list over a year ago. I'm now going through it slowly. Work a little, play a little!
Wise
Like the scenery and the message ! Enjoy then PNW !...Travel takes a lot of energy, but the right amount of it is "liberating" to me at this point in my life. I'm 65 y/o, and have been getting out there more, this past year or so... B/c of NewRetirement, I have much more confidence of where I stand financially, and thus I'm far less concerned now of "running out of money". Thanks again for making me aware of NR !! John, central Illinois.
Left corporate five years ago and haven’t regretted it! Time with my grandkids is worth it all! Plus I haven’t had the dreaded “back to work anxiety” on Sunday evenings 😊
Joe, your videos helped me to decide to sell my business and retire. Best advice that I could have received. One more year to help with the transition and then I am self imposed irrelevant. Thanks you so much!
Love it
This is my favorite video you’ve done. Very helpful for my confidence to call it quits 👍🏻🥃
You are so right !!!!
Retired at 48 now 61
Best thing I ever did.
Worried a bit the first few years….God will catch you. Money, insurance , boardom…yep stop worrying . You will do way better then you think
"You wake up and How do I enjoy the day!" best advice!!!!
I LOVE the background views of the Pacific Northwest in these recent videos, Joe! Looks like you and Lisa are having an EPIC visit out there!
We are.
I’ll be one of your 3 viewers my friend. Keep up the good work!
Hey there buddy.
I’m focused in on being a relevant grandparent.
I was diagnosed with prostate cancer of 50 years old. Had my prostate out at 54. I’m now 57 and I’ve been planning on working until I’m 60. I think I have plenty of money to retire but I also don’t want to cut off my nose to spite my face. However, I am enjoying the freedom of knowing if I get downsized, fired, etc., I don’t think I really care! I would like to keep working but the pressure is off now. I’m not sure what I’m gonna do with my retirement but I know I can do something that gives me a mission.I really love your videos. Thanks so much for what you do
Great attitude
Fear of running out of money was a big problem for me, especially when I first retired. After I formulated a plan and got comfortable with it, I felt so much more confident.
Thank you for your videos, Joe. You are a huge part of why I was able to retire early.
Me? You have the great story. Mine was the story of the tortuous.
Great channel. Subscribed. I miss living in the pacific NW. I tried to retire 2 years ago, but went back to work part time for the health insurance. I have a lot of pride in my work, but the stress can be overwhelming…. Not sure how long I can hold on.
Spot on Joe…When my dad retired from the Army in 75, he got to do things he’d been wanting to do but couldn’t cuz of his military commitments. Once he retired he got to do what he wanted to do on his time clock and was enjoying life in retirement…I’m two and a half years into my retirement and I gotta tell ya I don’t miss the the grind of running 26 radio stations in 6 Texas markets…Love the me time to do what I want, working out, do my internet radio show and helping around the house since my wife is still working, and being a life coach to my 19-year-old daughter that’s gonna be a sophomore in College…Love the PNW, we spent 2 1/2 years at Fort Lewis when my dad was in the Army…We use to build tree houses in the summers…Fond Memories in the mid 60’s…Enjoy Joe, this is Billy Out from South Texas👍😎👌
It’s more about taking a half a cut in pay, finding and paying for health care, and the lasting impact of inflation
thank you Joe, that's what I needed. Just one more year over here - but only 50 at the moment. These 3 are my biggest concerns - already working on the right mindset, and your video came at the right moment. Thank you
😊
Good video Joe. I am 55 years old. Turned in my retirment notice yesterday. Ive been a plant manager for the last 20 years working for a mammoth sized company. I can say I'm scared and excited. The math works.....wr shall see! Thanks for your help. I wouldn't have jumped without your knowledge and experience.
Love it. Congratulations
Everyone needs to watch your show. This is one of the best. Thank you Sir.
1964 was a good year! Beatles come to America. Ford Mustang gets rolled out. 9/29/64.
Hey Joe, love the videos. Azul like without the walking. Don’t forget to write off these beautiful trips, business trip, right? Haha! You’re living the dream and tempting the masses on how wonderful early retirement can be. Thanks for encouragement, some people need a little push. Keep up the good work!
All excellent points. Been a CFP since 1994 helping well over 600 clients. The fear of month left at the end of the $ is real and shouldn’t be discounted. Retiring at 55 with 30 more years of life expectancy is not to be taken lightly. It may feel all is good thru first 10-15 years and then bumps in life happen and asset levels can be impacted greatly. 😊
Awesome Video Joe makes one think for sure! Almost there just a little more grinding!
I'm 3 years from retirement (and I like my job so it's easy to think of 3 more years here). The only one of these three things that cause me anxiety is running out of money. Boredom? If someone is bored, they're probably boring. The list of things to do, learn, and places to see is limitless! A rotating schedule of physical, mental, and creative activities should pose the only problem of finding the time to do all of them.
Relevance? If people only feel relevant in their work role and not in their personal life, they should really work on that. Ask, relevant to who? Because when you are reaching retirement age, you should have the maturity to recognize no one is actually relevant. We are all specks in the universe with approximately 1 century here on earth. It's a freeing thought for me.
Yup, I also worry about money and having too much time in early retirement.
Great video Joe.I'm a newer viewer, I have to say that your videos have helped me so much so far.I'm about seven months out now!
Welcome aboard!
Best video you've done
Thanks for posting. Please show your speeder bike you use to get around Endor....I just couldn't resist!
No Ewoks spotted.
How do you ever fully run out of money when you get social security. It needs to be reframed differently to include your personal savings and what the government provide based on your contributions. Lot to be said to ensuring your basic needs are within the state provision and your personal savings/pension provides the cherry on top 🍒
Exactly
I've never considered my self relevant at work, just a cog since i was always a disposable asset in the office. I'm your age, single and 347 days away. I'll be one of the "only 3" watching all the time. Keep up the good work. Great background this morning.
Boredom is a boring person's thing
Nice. Posting early today i see… 😀 enjoy the NW…
I retired in March at 52 yoa and it has been awesome. During your career, invest consistently and save save save and you should be good.
Exactly
If your own SS you wont run out of money. You might be eating hot dogs and cat food, but you will have some income.
Looks like your on the set of Stargate SG-1. It was filmed up in Vancouver CAN.
In Lions Gate Studio that is😂😂. I do love the nature background for his last few videos though.
@@freedomlife3623But all the "off worlds" looked like this place. It never did say Colonel on his uniform.
What is the title of your book? I don't think I saw it in the information.
It’s not on retirement. Topic is reliability and maintenance. Title is zero to hero.
Hi Joe! what’s your opinion on on Suze Orman’s advice to have $5 million before retirement? it seems unreachable .
Just crazy . It’s unique to your spending. I like some of her points but I’m shocked she is relevant.
Only 7% of retired people have $2M. It’s stupid.
she said before considering retiring "early", early being operative. $2m yields $80k/yr 4% safe withdrawal rate. Is $80k/yr which is basically middle class median income USA $75k/yr going to be sufficient in the long run? That's the question. Higher taxes are coming, will the markets sustain 8% in the long term, etc? If you are going to retire early, you need retirement income to cover the gap until you can offset with social security, too. If you do the math, $5m isn't unreachable, it's a matter of personal will. You could reach far more than $5m starting working years 21yo over 30yrs until 51yo. People choose xyz over $10k/yr or more. We are also living a dystopic world where people define working in retirement as retirement, too.
@@hanwagu9967 it’s totally unrealistic. I guess we just disagree. I’m retiring early and I don’t have half of $5M and I will be just fine.
@@deanrotering879 the math works out, so it is by no means unrealistic. it's tbd if you'll just be fine with less than $2.5m investable assets and retired early...whatever early means. Anyway, her point and reasons are valid regarldess if you agree or not.
Hey Joe, did you drive to the PNW?
No. Flew into Seattle. Debated a lot. Honestly, flying was problematic. I’d drive next time.
@@joekuhnlovesretirement Good to know! I am planning to drive it too and take a slow approach there (2-3 weeks).
Hey! handsome man you don't have to be bore, we could always go fishing together right?.....;-).....lol
Relevance is mainly a US thing. Discuss.
@2:20 humblebragging from a 50k+ subscriber utuber?🙃 jk Meister Kuhn
CZcams is not a good hourly wage enterprise. I got paid zero dollars for 3 years.