5 Signs You're Closer To Retirement Than You Think

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5 Signs You're Closer To Retirement Than You Think

Рет қаралды 17,033

Күн бұрын

➡️Our financial planning services: www.parallelwe...
Retirement might be closer than you think, and in this video we'll go through 5 signs that you should look out for.
If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your retirement plan on track.  You can learn more about our services at www.parallelwe...
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OUTLINE
0:00 - Intro
0:17 - Sign One
2:21 - Sign Two
3:22 - Sign Three
4:59 - Sign Four
6:38 - Sign Five
This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Returns are not guaranteed and past performance may not be repeated.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

Пікірлер: 55

@rockinrog5 2 ай бұрын

Adam, been watching your channel for about 9 months and your videos have been so helpful. I had plans to retire at 65 (will be 63 this November)With creating my own Excel pension “software” I was able to see that the financial part was better than I thought with planning for 30 years out. Even after after 30 years, still have plenty of cash and not even using the house equity. So I’ve decided to retire at the end of the year, 2 full years early. Thanks for the info and advice. Retirement life…. Here I come.

@jtmulvaney 2 ай бұрын

My initial retirement plan aligned with this video. I followed my older brothers advice and told everyone that I had tetired. And what was I going to do? "Take a year off" I said. Let it sink in and move on from there. Year 1 ends 5/31!

@garth217 2 ай бұрын

I was luckier than many people here i think. Started planning ( investing) at 28 . At 54 i had 30 years completed and a Defined Benefit Pension with bridge until 65 which pays 60% of my previous income. I loved my job but as a first responder I was exhausted by it. People who are counting the days or months unfortunately had the wrong job in the first place

@tanyaldutton 2 ай бұрын

I dunno, I enjoyed my work for the first 30 years then Covid made a huge dent in my enthusiasm. Therefore left my job at 53 (I’m a physio)

@garth217 11 күн бұрын

@@tanyaldutton covid brought me back to work

@7skeptic7 2 ай бұрын

53 in March, retirement in 3 weeks! Numbers work, want to maximize my health I have now, parents getting older, and work politics makes it no fun, was already at 4 days a week. Will be open to some projects with my old company to keep my mind going and help with possible sequence of returns risk. Great channel and video.

@DrRock2009 Ай бұрын

@3.00 moving house and going to be outside on the land. 20 years on shift 7 days a week 😡 Retired last week @56. Health and time are priceless: you can always make more money….

@macdaddymgiarc 2 ай бұрын

Another great video, and comments are all spot-on, too. One thing to add to your middle point. If we are not getting satisfaction at work, that is a big thing, but the added point to that is we should have lots of aspects of life that bring us satisfaction. So many rely solely on work/career/income as their driver for happiness. We need MANY things to make us happy. Our family, travel, friends, gardening, whatever! If one of these falls away we should have multiple others stepping in to take over. I will 100% NOT miss work and my career in the least. It was great while it lasted but I am happy to see all the others take over and fill my emotional bucket.

@richardbartolo8754 2 ай бұрын

Met with my financial planner a month ago to confirm that my idea of retiring on my birthday in 2028, it's a Friday, would work. The answer was a resounding yes. Next year we start working on the finer points. I have the hobby (cycling), I have 2 young grand daughters close by and a partner who's ready to move into the next stage. I think I'm ready.

@jtmulvaney 2 ай бұрын

I would just ask the opposite question. "Based on my planning when could I retire?" Don't leave years on the table if you don't need to.

@DigiTiLMon 2 ай бұрын

If it was a resounding yes, maybe you could do it sooner? 2028 seems a long time from now. Those young grand daughters won’t be so young in 4 yrs, they may move or someone may develop health concerns. It may not be your situation but our society is filled with people who either plan/save nothing or save far too much and miss enjoying it.

@mayfieldmanor5344 2 ай бұрын

As someone else said, I have enough and I have had enough, 6 month countdown to retirement! Thank you for your videos Adam. They are so very helpful!

@garth217 2 ай бұрын

People who count down to retirement were in the wrong job to begin with.

@mayfieldmanor5344 2 ай бұрын

@@garth217 Agreed. Sorry that you were so exhausted by your job.

@wrongwayconway 2 ай бұрын

I've been checking my retirement numbers since I was 58 (now 62) thanks to the CPP online calculator and the website for my defined pension plan. After 19yrs in Healthcare the pandemic, staffing shortages etc really took its toll on career satisfaction. Thanks to your site in addition to the ones I mentioned I am officially retiring this November at 63. I look forward to gardening, hobbies, my dog, my grandchildren. At last!

@ParallelWealth 2 ай бұрын

Congrats!

@johnnyv5995 2 ай бұрын

I'm 56...and so ready to retire, but with 1 son still in University and the other still living at home I feel I need to keep working. Financially, only way I can retire early(60 max) is to sell and move to a smaller home, that should net me enough income to cover my expenses until CPP & OAS kick-in

@jtmulvaney 2 ай бұрын

Remember that (barring horrific changes in markets), investing in a home is not a "spend". While not liquid, the value is (normally) still there. . When I retired, we sold our paid for house to buy one about the same size but on the water but with a (modest) mortgage.

@johnnyv5995 2 ай бұрын

@@jtmulvaney You retired and took on a mortgage??? No Way, been mortgage free for 12years, not doing that again.

@jtmulvaney 2 ай бұрын

@johnnyv5995 Understood. We are in an enviable position for sure. Cashing out tax advantaged accounts in order to pay cash would have created a heavy tax burden. Stretching it out over 15 years with a mortgage means (hopefully!) we at least break even with investment returns. NOT buying the nice house was an option of course, but if we run out of money at 95, our kids can sell the house and fund our final years.

@polepole9066 2 ай бұрын

Im so ready ! Love your channel.

@careysretirementjourney 2 ай бұрын

Adam. Good points. Having a plan and also having a complete shut down has been the best. Too 8:48 many keep the option of going back part time or working from home because they’re scared to make the plunge. My advice is to commit too no work thoughts for least 8 to 10 months. You need it when you retire. fill those months, not sitting at home but either travel or getting involved with something as you have said in previous videos. If you’re not doing anything you will, too easily step back into work that you were trying to get out of.

@jtmulvaney 2 ай бұрын

YES to waiting "x" months before recommiting.

@marko63362 2 ай бұрын

As soon as my numbers are in a place that can weather my retirement wants and wishes, I’m pulling the plug and retiring. Close to seven figures right now. But if I stay five more years, I get unreduced pension based on my 10 years of service.. Essentially, it’s coming down to the affordability to do what I want without coming into a cash shortfall years in the future. Plus, I’d like to be able to set my children up to have an easier time than I had to get to this point.

@davecarpenter4917 2 ай бұрын

5 years isnt a terribly long period unless your work causes problems like stress/anxiety/anger/ etc. Those things can reduce your expiry date. Also.. how much is "enough" money ?

@marko63362 2 ай бұрын

@@davecarpenter4917 that’s very dependent on individual circumstances. In my case, that is went my DB indexed pension is secured. To me this is my insurance to a viable secured retirement, and should help me weather any stormy economic markets in the next few decades. While it’s not my primary source of income during retirement, it will act as a large anchor as market returns fluctuate.

@garth217 2 ай бұрын

7 figures??? Lol and still not Pensiond out...my Pension is close to 80k..have yet.t to spend a dime of my investments after 6 years, you must be living the life of the Rish and famous

@marko63362 2 ай бұрын

@@garth217 🤣. I never lived beyond my means, and always followed the ‘pay yourself first’ plan. Add 35 years of discipline to that combination.

@garethwilliams6474 2 ай бұрын

What's the best way to access home equity in retirement. We plan on downsizing which will release 40 to 50%. What about the rest if needed? Tks

@user-ey2te5vs3z 2 ай бұрын

My biggest and most stressful question is… will I or do I have enough. Very difficult to figure out!!

@rbenjamin1429 2 ай бұрын

Very helpful! Thank you! 🤗

@todddewey3848 2 ай бұрын

Great video Adam, thank you.

@daviddean6032 2 ай бұрын

Exceptional! Adam, thank you! ❤

@CalmPlains 2 ай бұрын

Thank you for another great video!

@jtmulvaney 2 ай бұрын

THIS video struck me. I am 4 days before hitting year 1 of retirement and SO happy with where I am. Your 5 points are perfect and align with my original thinking. I have the money. I was out of Corporate and into a Contractor phase and so no longer had the drive to improve either myself or my employer. I was capped in my career and potential Social Security. And I had recently moved closer to grandkids. Everybody wins when I retired! My wife continues to work...she is not yet ready to fill the personal satisfaction of work differently.

@unclemick-synths 2 ай бұрын

Just 34 months to go!

@karlmitchell1428 2 ай бұрын

That’s awesome, it will go by fast, I remember counting day from 36 months, LOL

@garth217 2 ай бұрын

72 months retired already but worked part-time

@edkolly7147 2 ай бұрын

Sometimes your body will not allow you to work any longer like me I work in healthcare in a physically demanding job because if I don’t retire I’m risking my health and the quality of my retirement health !

@davecarpenter4917 2 ай бұрын

On the upside, you probably have a better "exercise plan" than most people due to your career. I retired but picked up a part-time with a diff employer but doing somewhat the same tasks. I really enjoy the extra days off each week , but I also appreciate the enforced 'exercise plan'. Have you considered part time to give your body more days /week to recover ?

@markust8904 2 ай бұрын

I'm so close to retirement (67) i can reach out and touch it, but i get a shock when i do, i don't think I have enough to do it, and that scares me like putting a coin in the socket. BZZZZZZt! OWW! Fail.

@gepingsong765 2 ай бұрын

I don't know when I will get ready to be retired psychologically.

@tanyaldutton 2 ай бұрын

I feel like a lot of this is speaking to boomers, not us Gen X. I left my job last year at 53 because, frankly, I’ve worked too hard for too long having hunkered down hard since starting work at 21. The Boomers I work (in healthcare) with had such a hard time letting go of work and stay long past their due date, but my peers wish they could do what we’ve done, and are counting the days til they can retire. I know many boomers who have retired and have come back to work in their 70s, not because they have to but because they want to. At this point I can’t relate. It’s now daily workouts and long coffee sessions, lunches out with friends, weekly pickleball, and a significant reduction in my stress. And travel. While I have always identified myself as my health profession (and admittedly picked up a few shifts here and there) I just can’t relate to continue to work if money isn’t an issue.

@Janice-nh1xy 2 ай бұрын

54 months 😱

@James_48 2 ай бұрын

Ha! That’s funny. I hadn’t thought of it in those terms. 43 months for us!

@davecarpenter4917 2 ай бұрын

Less than 3000 more coffee breaks to go !

@scotbarlow213 2 ай бұрын

Thanks Adam!! Have you covered off what time of the year is the best time to retire? December, January...does it matter?

@Devilcity6275 2 ай бұрын

Just retired at 67 in May 2024, Company still wanted me to stay but refused. Freedom.

@Moluccan56 2 ай бұрын

@@Devilcity6275Congratulations! I did April 3 2024, at 67.5 after 42 years at the same place. Permanent vacation.😊

@davecarpenter4917 2 ай бұрын

Spring/summer would be a positive vibe.

@wrongwayconway 2 ай бұрын

I'm choosing to retire in November (earliest unreduced pension date) so I don't have to endure another winter drive to work.

@Helen-tg4tr 2 ай бұрын

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

@Betty-dc5ck 2 ай бұрын

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

@Lisa-jy7bk 2 ай бұрын

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation

@Lisa-jy7bk 2 ай бұрын

Thank you for the lead. I searched her up, and I have sent her a message. I hope she gets back to me soon.