Common Traits of Someone Who Can NEVER Retire

Common Traits of Someone Who Can NEVER Retire | Even One Will Stop You!

Рет қаралды 113,315

Ай бұрын

This video discusses the traits of people who can never retire. The most common trait is a lack of interest in learning even the most basic elements of personal finances. If you have this, you can (probably) work the rest out.
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Пікірлер: 482

@bobjacobson858 25 күн бұрын

I'm about to turn 72, and have been retired for a little over 11 years. Shortly before retiring, I asked my father why coworkers all have new cars but I'm driving a 20 y/o Oldsmobile. He answered "It's because THEY have debt but YOU have wealth!".

@DrSchor 24 күн бұрын

the answer is obviously the other way around. those with debt can't afford new cars; the wealthy can.

@PInk77W1 23 күн бұрын

Smart. Me 63 retired no debt no car. I just ride a bicycle

@turtleanton6539 23 күн бұрын

@@PInk77W1nice

@DanTheManIOM 22 күн бұрын

Yea, related, I hated Wells Fargo, thought they were a bunch of arrogant pricks. I paid off my mortage two years early. They annoyed me, I sent the check. Done.

@PremiumFuelOnly 21 күн бұрын

Im putting money in an interest bearing savings account so I can buy a newer truck with cash in 12 years when I retire, that way no debt, no driving a 25 year old truck. Just plan ahead.

@waterbug1135 Ай бұрын

I knew someone who had all these traits. I divorced her. There was no way I could retire with her. That was 8 years ago. Smartest move I've ever made.

@HolySchmidt Ай бұрын

Thanks for the comment WB

@user-yb5bg8im5g Ай бұрын

mine died in her sleep 6 years ago. wake up EVERY morning with a giggle in my heart and a smile on my face. even the dog is happier...

@jamesp.7496 Ай бұрын

WOW…….my wife and I will be married 40 years in October. I can’t imagine my life without her in it. Don’t really know how else to respond to these comments…I feel sorry for both your wives. Especially your dead wife sir. ❤

@robertperry814 26 күн бұрын

@@user-yb5bg8im5g she probably died to get away from you!

@Ella-Bella2024 26 күн бұрын

My husband, with these traits, left me for a younger woman just after I made us debt-free and was about to pay cash for a home. Now I'm getting richer and richer and he's $70,000 in credit card debt at 30% interest. The creditors just called me looking for him. It was the worst financial decision he ever made for himself and the best financial decision he could have made for me.

@jayjohnson1169 26 күн бұрын

My neighbor always made above 6 figures, even 15 yrs ago but always traded up into a new monster size SUV every 4 years. He's 53 and recently asked me for help about starting an IRA. I asked him about his 401K and he said he had quit making contributions years ago because of his mortgage. It's that easy not to save.

@thebigpicture2032 21 күн бұрын

Hard to contribute if the mortgage takes everything.

@derwinmitchell9947 20 күн бұрын

@thebigpicture2032 Especially when you keep buying new big trucks every few years 😅

@thebigpicture2032 20 күн бұрын

@@derwinmitchell9947 That’s a Boomer thing. Mortgages are too big these days for young people to buy big trucks.

@MarjorieRyanJoy 15 күн бұрын

At 56, with health issues it meant early retirement with little savings, turning to investing became my lifeline. Now I'm retired at 58, with over $3M saved, It's been a journey from uncertainty to security and peace.

@GLADIATOR-tz7yt 15 күн бұрын

to be realistic, Luck plays a significant role more-so than the resources to thrive with investing. without it, it's very challenging to succeed, I've been there

@MarjorieRyanJoy 15 күн бұрын

when its consistent, its not considered luck. I attribute this to research which was the challenging part before it led me to Emily Ava Milligan, a top fund manager, in turn she made 310k into this and counting

@GLADIATOR-tz7yt 15 күн бұрын

I pasted her name into my browser, and her website popped right up. It became clear how popular her sessions were. Your example is rare. Thanks for the share

@ScooterOnHisWay2024 Ай бұрын

I went into retirement with no mortgage and no credit card debt. I used the final 18 months prior to clear what little debt I still had, to skew my financial holdings towards less risky investments & to divest myself of unnecessary material possessions. Then I moved to a beautiful, far less expensive country to retire.

@Barbara-jn2gw 26 күн бұрын

what country please

@robstrickland166 25 күн бұрын

how is Zimbabwe

@boston312 22 күн бұрын

Americans dont understand

@lyceum4177 22 күн бұрын

Where'd ya go?

@jamesrecknor6752 21 күн бұрын

Philippines joins the retire on the cheap chat

@billc4993 Ай бұрын

You need to do a video on people that can retire, but don't.

@gpdoyon Ай бұрын

Why? I just met a 77 year old lady who works 6 days a week because she loves staying busy. As a new, fully retired 60 year old, I can't wrap my head around that. Forty two years of full time work was enough for me. To each their own.

@bethiciaprasek1008 Ай бұрын

I think that is a great idea because I expect I could retire soon but will not. My work is fun...so lower cost for entertainment. Extra retirement and living expenses money. Due to the extra money I can not only go to a pizza/pasta restaurant on an almost daily basis (my CHEERS...where "everybody knows my name") plus I have interesting things to talk about due to work, but I also am more in contact with coworkers and the coworkers I had previously due to participating in industry work groups. I can occasionally help family members or visit them more often. I act like I won the lottery at work when I have to make difficult decisions (though I haven't won the lottery), so that makes work even more rewarding...just due to having marketable skills. If I want time off to play (or just work from home) then I can. Why would I retire to volunteering to do that for free?😃

@user-yb5bg8im5g 26 күн бұрын

i can retire and ''have''. i can afford to sit on the sidelines, ''ala travis mcgee'' and wait till 70 to collect. ''the government soaked me, i want to return the favor''.

@MemphisMike901 24 күн бұрын

@@gpdoyoni am with you. Retired almost 2 yrs ago. Just turned 60 last october. 40 yrs at UPS plenty for me. I do not understand WORK being a persons only option for staying “busy”.. i have Zero shortage of activities to keep me busy

@megalodon1726 21 күн бұрын

@@MemphisMike901 Work isn't the only option for staying busy, but many other options can cost $$$, for example golf or travel. Many people choose work because it's a net inflow of cash rather than an increase in their expenses. And work is less stressful when you have the ability to retire, as you have more leverage to resist BS from management.

@nat9909 Ай бұрын

I am never going to retire because I don't have any interest in retirement. My grandfather was forced to retire at 65. He went right to the competition and hired on as an engineer and retired from that job at 85. He stayed active with his church and community up until the end. I like working!!!

@bob_frazier Ай бұрын

Everybody gets to choose, that's the beauty of it. And even just the idea of "I could retire if I wanted to!" might make working just a little bit easier.

@Markevans36301 Ай бұрын

@@bob_frazier This exactly, I'm 65 and still working but it is a lot of pressure off that if I couldn't got to work tomorrow we would be okay.

@DanTheManIOM 22 күн бұрын

Once you go, you lose your identity you had for years and many of your contacts.

@apollovizsla 21 күн бұрын

@@bob_frazier This is so true! I wish that I was able to continue working full time at my current job, but my body is worn down. My employers are into hiring people who are 20 to 25 years old now and they are basically pushing the older people out the door! I don't like the idea of starting over again, just to be at the bottom.

@mysticaltyger2009 21 күн бұрын

Most people simply aren't able to work until age 85, even if they want to. It's crazy not to save/invest money with the idea that you won't be forced to retire at some point. Most people think they're going to work until age 67. Most of them don't make it. The typical retirement age is 62.

@dougb8207 Ай бұрын

Your neighbor was a piece of work. I'm at a loss for words. Nice job staying calm and being polite.

@Steve-gx9ot 28 күн бұрын

Agree = once the neighbir changed from " NO hassle" = I would walk away

@lyceum4177 22 күн бұрын

Agreed, lol

@MikeReisender Ай бұрын

I retired last year. I have been shocked by how many people, many of whom I respect deeply, have asked questions about it that reveal they are basically financially illiterate. This is a huge problem in the US!

@Javalipapere 24 күн бұрын

See this all the time. I’m 64 and still working but only bc I have a great boss. Living below one’s means is essential to not having any debt and saving each paycheck

@mmettauer Ай бұрын

We paid off our house before retiring. It was the *BEST* thing we did before retirement. It is a huge weight off my shoulders, even with a low interest rate loan and only a few years left to pay it off. We had the money, why not pay it off and not have to worry about it anymore. Again, the *BEST* *BEST* *BEST* feeling! Do it!

@Javalipapere 24 күн бұрын

It was an emotional high when we paid off our house. Our loan had been 3 percent. Peace of mind is something you can’t place a value on

@WAL_DC-6B Ай бұрын

I was in the railroad industry for over 37 years. With railroad retirement you can retire with your full pension at age 60 with at least 360 months (30 years) service. I indeed retired at age 60. Also, I was one to always live within my means, so I was debt free upon retirement. One other thing, I never-ever made a time payment on a credit card. I always pay off my credit card bills at the end of the month and consequently my credit card companies pay me to use their cards with the rewards they provide (yes, I know, I'm known as a "dead beat" in the credit card industry).

@Steve-gx9ot 28 күн бұрын

But credit card companies are worse than dead beat you = they are thieves and butchers😮❤

@Javalipapere 24 күн бұрын

That’s what we do w our credit card. We charge, write one check at end of month and, get points

@jameswitte5676 22 күн бұрын

Don’t worry they still make money off you.

@WAL_DC-6B 22 күн бұрын

@@jameswitte5676 I'm not worried as I know there are sometimes convenience charges.

@mctd3693 21 күн бұрын

That's me in 8 yrs and 6 months then railroad retirement

@scott1441 Ай бұрын

Between the liberalization of drugs and endless gambling promotions we are doing our youth a terrible disservice. We should be promoting financial courses in middle and high schools . The country's priorities are counterproductive

@HolySchmidt Ай бұрын

Totally true

@2023Red Ай бұрын

Disagree. Our whole economy based upon consumer spending. It keeps inventory low, people working, and rich people richer. Spend spend spend! Wall street will love you!

@amyyates8273 Ай бұрын

I make my kids watch these with me! 😊

@ericolens3 Ай бұрын

@amyyates8273 you are an awesome parent. i hate to be morbid, but you never know what day youre gonna pass. so some wisdom must be passed down before the day its actually needed. and statically speaking, I'm not too sure how likely it is a parent will be alive while their child is entering retirement. essentially how many parents would even be alive when their kids are in their 50s and 60s. (i generally say a parent is 20 years older, so thats a 70-80 year old. thats a high risk, but COULD be possible)

@ericolens3 Ай бұрын

@@amyyates8273 my dad passed like 5 years after he retired. and he wont get to see my kids. neither did my grandfather get to see me. so I'm kinda baised towards early death. so I'm like 30 years until my retirement age, and while i may not have LOTS of money going into it. i dont want to be OBLIGATED to work if possible so I'm glad my dad taught me about a roth, and saving up. Im still factoring all the costs that can hamper or help my retirment process.

@c8086o 20 күн бұрын

I saw a meme the other day that said “why you should never retire” the picture was a cemetery. My father had a fairly active job and a pretty good attitude. He’s 19 years older than my mother and few people realized he was even older than her. He lost his job when his cousin sold off the business when my dad was 65. He had no retirement. Within a couple years of being unemployed my father aged rapidly both physically and mentally declining. He went back to work eventually, but it was too late. He had aged 10 years in what seemed like overnight. He’s 88 now and the Covid vaccine had its way with him, losing most of his vision, not being able to do virtually anything on his own and being stuck on one floor of the house. The value of health is one important lesson he taught me by accident.

@Hypnotically_Caucasian 20 күн бұрын

"When a man stops working, in a way he dies." I was medically retired from the military after a spinal injury. Although I can't move as easily (I limp very bad) I've been getting back into making artwork and computer repair. Our economy sucks right now though.

@wildfoodietours6702 Ай бұрын

I much prefer earning interest through stock investments vs paying interest through credit card debt!

@HolySchmidt Ай бұрын

No truer words were ever spoken.

@ericolens3 Ай бұрын

same sentiments here. i want POSITIVE interest not negative interest, especially in a world with an ever decreasing purchase power of the dollar.

@NatesRandomVideo Ай бұрын

Pay for the banker’s vacations or pay for mine? Easy choice.

@autonomouscollective2599 Ай бұрын

My father passed away in 2000 and my mother in 2005. When my mother passed, I received a bit of inheritance. Nothing extravagant, but enough it help me out and have some left over. I went to an investment advisor, saying I wanted to pay off my house and invest the rest. No, no, no, he said. Invest it all. The interest I’ll earn will be greater than the interest I’ll pay. I left and got myself another investment advisor.

@JBoy340a 29 күн бұрын

Definitely, that is why this whole getting out of the stock market in retirement to reduce risk is very questionable.

@geoffgordon596 Ай бұрын

“Freedom’s just another word for nothing left to lose”

@hanksta34 Ай бұрын

Written by Lightfoot and sung by someone who burned out early in life

@arthurbishop3173 Ай бұрын

@@hanksta34wrong - was written by Kris Kristofferson

@user-yq7je1op3t Ай бұрын

🤘🤘🤘

@rhunter98 Ай бұрын

Amazing😢

@autonomouscollective2599 Ай бұрын

@@arthurbishop3173 Right, Kristofferson. If it was by Lightfoot, it would have been 3 times longer and boring. (OK, I’m not a Lightfoot fan.)

@Kirk_Mcgurk Ай бұрын

You're life stories and advice / analogies are priceless! Thank-you Geoff! -Curt

@HolySchmidt Ай бұрын

Thanks Curt

@cuz129 Ай бұрын

I love his screen presence. It's calm, wise and very matter of fact. We knew our expenses almost to the dollar. And they have proved so accurate in retirement!

@richdouglas2311 Ай бұрын

My wife and I are military retirees. We moved around a lot. As a result, we don't have a mortgage that is near being paid off. Currently, our mortgage (from 2021) is at 2.25%, but we'll never pay it off (we're in our 60s). We overcome this limitation by having accumulated good Social Security payouts (which we have not yet taken), my two federal pensions--military and civilian, both being paid now--and a reasonably robust retirement savings (nearly a million). We'll never have a paid-off mortgage, but we're trying to make that point moot.

@Lookup2Wakeup Ай бұрын

Yes, but your okay as you have a large cash deposit of one million to off set your mortgage. Have a great retirement 👌

@SpookyEng1 Ай бұрын

Why pay it off when you can earn 5% in a money market? If your guaranteed income pays the bills and cash flow isn’t an issue you are fine. Most people don’t have sufficient pension income to do that (I am a fellow Military retiree).

@BarnabyBarry 22 күн бұрын

A good option is to move to Thailand-gyms/pools/younger women-healthy food-$400 month condo and walk to the 🏖️-no need for a car-calm/stress free

@richdouglas2311 Ай бұрын

Jeff is correct about whether a contract was in place. In most contract law, an oral contract is binding and enforceable. If you have an officer, acceptance, consideration from each side, legal capacity, and a legal objective, you have a contract. But real estate law is different, where the only things binding are what is in writing. Once the buyer changed the conditions, they killed the contract and made a new offer, which the seller was free to reject.

@SF-fb6lv 21 күн бұрын

But look up Statute of Frauds -

@paulkoza8652 Ай бұрын

There is another aspect. The fear of running out of money, coupled with, "I don't to know what I'm going to do when I retire."

@HolySchmidt Ай бұрын

Thanks Paul

@Lookup2Wakeup Ай бұрын

I'm 67 & retired seven years ago. Filling the day can be a challenge at times.

@philgretz Ай бұрын

I'm 65 and retired 3 years ago. Between grandchildren, church, travel, outdoor sporting activities, home repair projects, and hobbies, my days and weeks are quite full. I'm so glad that my previous employer began requiring the Government's COVID injections in late 2021. That was the catalyst for my retiring. No jab, no job. Okay. A Dios...

@Steve-gx9ot 28 күн бұрын

Concern ( not fear) of running out of money is my only obstacle left before Full retirement. Want to remain "independent" forever and am transitioning into retirement by working less year by year. Am 66 and will try to wait to collect sic sec at age 70, as long as health is good

@lolal2502 26 күн бұрын

@@Steve-gx9ot I plan to do the same as long as I am able to work and find a job.

@walkingdude8779 Ай бұрын

Never carry cc debt. It’s the poison of any debt.

@gpdoyon Ай бұрын

Great house selling story and a valuable lesson. I'm glad that it all worked out so well for you! Great video!

@arthouston7361 Ай бұрын

I could have retired 6 years ago. I just don't want to. I like having things to do every day, usually to help others. I go on mission trips, and I run my own company.

@TT-fq7pl Ай бұрын

Mission trips? I hope you don't mean travelling to other countries to impose your religious views on them. That's so nineteenth century.

@HolySchmidt Ай бұрын

Outstanding Art.

@TT-fq7pl Ай бұрын

YT deleted my comment because I'm critical of religion? What a world.

@hanksta34 Ай бұрын

TT - “critical” or intolerant of people of faith?

@autonomouscollective2599 Ай бұрын

@@hanksta34 If you’re critical of Tarantino films, does that make you intolerant of Tarantino?

@TheTaytay198 27 күн бұрын

Your work is appreciated. Thank you

@jimmyamico4713 Ай бұрын

Excellent video Geoff ❤

@HolySchmidt Ай бұрын

Thanks Jimmy

@DRKDNCR 20 күн бұрын

I'm 42, I had the same mindset with endless credit card debt in my 30s. I made money, didn't care about the debt only paid the minimum, until I made a decision to finally pay all debts out, working to pay off debt rather than spend. I feel much better now that I have no debt owing to anyone!

@kmilton1593 21 күн бұрын

Dear Geoff, Have not had a "budget" for the last 40 years! As a small farmer i never know what my gross income or expenses will be year to year. (However, i have not had any debt for thirty years either: that is, no mortgages, loans, leases; I always pay my monthly visa bill in full). My father told me at age 18 when i left home: "if you can't afford to pay cash, then don't buy it". My bank said i didn't make enough money to qualify for a mortgage. I told her i would build a small house anyways, "one board at a time using cash". (took me 30 years). Am 76 and still working.

@pagosabob10 Ай бұрын

Good reminders Geoff!

@HolySchmidt Ай бұрын

Thanks Bob

@quartytypo Ай бұрын

I was never interested in retiring. Quit working but still make money was the goal.

@HolySchmidt Ай бұрын

Love it

@jackwilley9847 Ай бұрын

You went away on vacation with that situation tells me that you are a tough man. You are so awesome my friend I have been encouraged to become financially literate

@lynnew6959 Ай бұрын

Great video. Totally important to watch those numbers on a regular basis. I couldn’t imagine not tracking my retirement funds!

@punisher6659 Ай бұрын

Great content.

@anniesshenanigans3815 Ай бұрын

Thanks for the great video, and story. I started a physical budget in 2017. And in months that I slacked off, I always overspent. People do not realize how much they 'overspend' on a daily/weekly basis without a budget. I have not had a car payment or CC balance in 5 years.

@duaneulman9915 24 күн бұрын

Thank you for video you and Dave both are a big help.

@seymorefact4333 Ай бұрын

I STOPPED alcohol and limit to 1 escort once a week! saved $3k a week!

@TheBigdog868 24 күн бұрын

Good job! I limit myself to one bimonthly. The 8 ball lasts longer

@petervanderveen2340 23 күн бұрын

They don't have "Personal financial acumen," but they know how many homeruns every ball player ever made.

@henrycarlson7514 23 күн бұрын

So Wise , Thank You . Remember to conster ALL of the costs.

@JBoy340a 29 күн бұрын

I would like to see a video on people who don't retire or retire later (say 70+) by choice. These are people who find work rewarding and/or switch to a second (third, ...) career later in life. I know doctors in their 70s who still do complex surgeries, sometimes for free, in 3rd world countries.

@gregwessels7205 Ай бұрын

That neighbor and I have very different ideas of 'hassle free'.

@HolySchmidt Ай бұрын

Me too!

@glenn9057 28 күн бұрын

good vid Geoffrey. the main concern for retirement is NOT how much money you have, it is how much money you spend. in fact, spending should be the main concern during your working life also. "spending" is the one activity most people can control but have the most problem with😊

@bretyoung1869 21 күн бұрын

Very interesting 🤔 Thanks Jeff !!!

@squidward66 Ай бұрын

I plan to never retire because I love working. If I die with extra money left over, it goes to my wife and kids, no problem.

@HolySchmidt Ай бұрын

First, I love your @name! Next sounds like a good place to be

@joeysocks5718 Ай бұрын

Great information.

@HolySchmidt Ай бұрын

Thanks Joey

@abrahams.lincoln6749 Ай бұрын

That neighbor was an a hole.

@ednitsche8188 Ай бұрын

Lucky you don’t have that neighbor any more.

@jeffl7852 Ай бұрын

Riveting story. It will aid in our upcoming sale-offer of our home. Thank you {HS} for reasonable information. A solid show for sure.

@royrogers2146 Ай бұрын

Good presentation. 👍

@HolySchmidt Ай бұрын

Thank you Dave

@1aikane 22 күн бұрын

American politicians never retire 🙄

@smhollanshead Ай бұрын

Interesting story!

@stephendibari5010 Ай бұрын

excellent video. i had many years of carrying CC debt until early last year. i’m about 4 1/2 years away from retirement and goal is to retire debt free except my mortgage.

@HolySchmidt Ай бұрын

Sounds good.

@diane.moore- 22 күн бұрын

People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?

@ThomasChai05 22 күн бұрын

consider investment planning, learning from a well experienced advisor is invaluable

@mariaguerrero08 22 күн бұрын

That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.

@mikegarvey17 22 күн бұрын

@@mariaguerrero08who is your advisor please, if you don't mind me asking?

@mariaguerrero08 22 күн бұрын

*Gertrude Margaret Quinto* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@CliveBirse 22 күн бұрын

I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.

@cuz129 Ай бұрын

So true, never once failed to pay off the entire balance on my credit cards every month. Paid off the house early. Paid cash for used or new cars every time. Retired at 60 with no debt. Loving retirement because I followed the same advice you give.

@mikeconner7682 Ай бұрын

Great video Geoff Did you ever find out why they asked so much for the reserve on the septic system?

@HolySchmidt Ай бұрын

It was a weird one since the buyer is the one who puts the deposit in escrow. My guess is they thought that we were out of options so would capitulate.

@blind_luck_ 23 күн бұрын

I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $120k in a savings account that i want to invest in a non-retirement account. Where would you invest this as of now?

@AntagonisticAsian 23 күн бұрын

Research dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.

@ApBurger3532 23 күн бұрын

I agree. Based on personal experience working with a financįal advlsor, I currently have $800k in a well-diversified portfolìo that has experienced exponential growth from when i started. It's not only about having money to invest in stõcks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.

@game46632 23 күн бұрын

Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.

@ApBurger3532 23 күн бұрын

I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "KRISTIN AMBER LANDIS" I've worked with her for 9 years and highly recommend her. Check if she meets your criteria.

@game46632 23 күн бұрын

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

@Partysize2 15 күн бұрын

You really nailed it. Poor money management and discipline is one of the biggest failures too many people live to regret. You didn't skip any of the factors that need attention. Good info.

@scoutandscooter Ай бұрын

Property taxes. Never go away and never go down.

@dzl8596 Ай бұрын

Never say Never. When you reach 65 in Florida- no more property tax!

@edennis8578 Ай бұрын

I just got a letter from my county that property tax is going down. Idk why.

@martywilliard Ай бұрын

@@dzl8596 property insurance in Florida is the property tax everywhere else.

@gpdoyon Ай бұрын

Agreed! I call my quarterly property taxes my "rent". :( Oh, well. All things considered, it's far less than what my mortgage was.

@jodylarson4697 Ай бұрын

@@dzl8596 People over 65 do pay property tax in Florida. There are exemptions, but they are not automatic and they are certainly not blanket exemptions.

@jamesp.7496 Ай бұрын

WOW that’s was a lot of content for one video….i can’t even comment until I soak this all in. 🌵❤️

@Dean-pc1ok 24 күн бұрын

Interesting video, was more about your life story than title.

@maddkatter7948 23 күн бұрын

Im retired at 58. Construction worker. 😅

@tinalewis6782 15 күн бұрын

Wow! I’m so glad I workout. I want to maintain my good health for as long as I can.

@BillyT531 Ай бұрын

"Wouldn't you like to be...my neighbor". Mr. Rogers. 😂😂

@cuz129 Ай бұрын

I ran an oilrefinery, and that sure looks like one in the opening!

@offshorequest 24 күн бұрын

I agree with everything....except about carrying a mortgage into retirement. We bought this home right as we were ready to retire (12 years ) with an interest rate of 2.89%. Once we purchased and remodeled the new home we sold our existing home and netted enough to pay off the new mortgage but decided not to.With safe investments I have been earning slightly less than 6% in recent years and never below 5% and would have had more "stress" knowing that I had "left money on the table". I do have an extensive financial background so that might give me an advantage.

@daveclark6324 Ай бұрын

I'm sure going through that house sale issue with your neighbor was annoying! I was getting annoyed for you during that story 😆 Thanks for the great tips 👍

@BadWolf762 Ай бұрын

The good thing was that they were not going to be neighbors for long.

@stevebc957 Ай бұрын

From hassle-free to hardball almost overnight - so glad this blew up in your neighbors' faces. I'm sure they watched some YT videos on how to negotiate and figured they had the upper hand. Jeff is a soft-spoken guy so sometimes that's interpreted as weakness - but clearly that's not the case. 😆

@dwightwhite6738 22 күн бұрын

I just read an article on the 15 things retired people miss at work. My answers: No, not so much, No way, nope, never, very little, not so much and 8 no ways. Life is good Never waste a day having a bad day

@oleradiodudea.m.4735 25 күн бұрын

Any man who that has been saddled with a burden commonly as child support is sunk. The child support awards these days are excessive, punitive, unrealistic for the victim payer and crippling. For the recipient they are TAX FREE and rise in many states automatically with cost of living increases, even if the payer is not making more money. The payer victims cannot get a tax deduction for these punitive payments and they are often taxed at the rate of a single person.

@turtleanton6539 23 күн бұрын

Yes just dont get kids

@oleradiodudea.m.4735 23 күн бұрын

@@turtleanton6539 That's right. Even though kids need both parents often times the Dad "just doesn't get the kids" because the Mom blocks visitation by using the kids as pawns. Very sad. And then they wonder this country is screwed up.

@jackcahill2383 Ай бұрын

Thank you

@nickpavia9021 25 күн бұрын

At first I thought this video was going to be about the personality traits of people who love their job so much they can never bring themselves to retire.

@DrSchor 24 күн бұрын

and what do you think now

@nonnieofsix7107 27 күн бұрын

My biggest concern is healthcare and/or extended care.

@KarenBradford-rl2oo 25 күн бұрын

I'm pushing 80 and I figured all this out at 18 years of age! Carelessness is one example of stupidity.

@DrSchor 24 күн бұрын

you figured it ALL out? impressive. what is the rest of what you figured?

@KarenBradford-rl2oo 23 күн бұрын

@@DrSchor Living in extreme poverty gave me the opportunity for quiet thinking without distraction. Working for a wage is the equivalent to giving your life away, regardless of how much you earn. Your life is finite but money is endless therefore your time is the most precious thing you possess. Spending more money than necessary for survival is giving away the moments of your life you worked to earn your money. I vowed two things, never give the IRS a dime more than required, and design my own life. There's much more but this was the foundation from which I made decisions that allowed me to fulfill my dreams and goals. Thank you for giving me the opportunity to share.

@turtleanton6539 23 күн бұрын

@@KarenBradford-rl2ooyes

@sergiopawson 29 күн бұрын

I'm a 50 year old doctor feeling burnt out from long hours and stress. Never invested before, cos the stock market seems to eventually crash, however I'm curious, I have $ 250k to invest over 4-5 yrs before retirement, what would be my safest picks to grow a $ 1m portfolio?

@arlenehill4ril 28 күн бұрын

Agreed, many people discredit the use of advisors when planning for retirement until it's too late. Thankfully, for 5 yrs now, I’ve had a licensed advisor steadily restructuring my portfolio from quite a lump sum invested to about 10% shy of my 7figure goal as of today.

@fromthebirchwood 28 күн бұрын

ambitious! mind sharing info of this person guiding you please? truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor

@arlenehill4ril 28 күн бұрын

I take guidance from ''Karen Lynne Chess'' a renowned figure in her industry with over two decades of experience. I'd suggest you research her further on the web.

@HaroldsTKO 28 күн бұрын

very much appreciated, curiously inputted ''Karen Lynne Chess'' on the web, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal

@austingwatson 27 күн бұрын

nothing much you can do with that little money and that short of a timeline. keep working till you are 65.

@AusWash 19 күн бұрын

6:00 AMEN BROTHER!

@richardlincoln886 Ай бұрын

Simple straightforward finances vs. Nickel and diming (is that the right American expression) has a lot to be said for it, retired or not.

@ModrnDayMonk 20 күн бұрын

I congratulate you on your ethical standards 🙂👍.

@okdoke98 Ай бұрын

I retired in November 2023…life is great. No debt and receiving military and corporate pensions.

@turtleanton6539 23 күн бұрын

Nice😊

@womanofacertainage5892 Ай бұрын

Hi! Thanks so much for all the great advice you provide. Would you please do a video about long-term care insurance? I've received a few quotes and for an 5000 a month benefit, it would cost about 800 a month for 10 or 20 years (depending on other details). For an 8k a month benefit, it would cost closer to 1200 or 1600 a month. It's all very complicated and confusing and I'd love it if perhaps you did an interview video wth a LTC insurance expert to explain pros, cons, terms, what's usual, what's not, what to look out for, when to buy it, etc. Thank you!

@MelissaHobbs-qm8wi Ай бұрын

Retirement planning can be quite overwhelming, especially when it comes to choosing the right investment options.

@foolish4bulls 29 күн бұрын

Focus on gaining income (dividends) to generate cash flow from your self directed IRA. There are plenty of decent options including treasuries right now. Leave your principal alone and just tap into the dividends when you need cash beyond your social security, any pensions or annuities. It’s very important to have a budget. Monitor every $ spent. It’s not as difficult as it sounds. Tune out the commercial advisors. Get a good CFP if you don’t understand investing or get educated and do it yourself. Make wise choices regarding Medicare and live within your means.

@andydogdixon1 20 күн бұрын

I’ve done a lot of traveling since my high school days and I’m 66 years old now and still love to travel but I recently received a diagnosis of early dementia. So, I need to get busy and do what I can now. I live in Charlotte North Carolina, and I’m having the urge to hop on plane from Charlotte to Paris.

@seminolefantodd4736 Ай бұрын

My credit card company sent a letter stating they were to "audit" my account because I was not using the entire credit limit and wishing to reduce it. I had to phone to "opt out" of the audit keeping my limit. I have a suspicion my CC company does not like me as I pay off what is owed every month AND take advantage of the cash back to reduce the payment required. I guess in a sense I am not their "most wanted" customer because they lose money with me. Oh well, my only long term debt is my mortgage and I intend to keep it that way.

@TheBigdog868 24 күн бұрын

When they start playing games like that, I recommend shopping for a new card. You will be canceled soon, not that it matters. Plenty of options out there!

@kennethreynolds8 18 күн бұрын

Excellent vid, I'm months away from retiring no mortgage and only a small payment on a small car which I intend to pay off asap.

@joycejackson9315 Ай бұрын

Sometimes, it's not an option to keep driving when you are retired. It's cheaper to take mass transit in the city. And the OATS bus in Rural America . Of course, car pooling is also an option .

@HolySchmidt Ай бұрын

Thanks Joyce

@tedfisk1211 5 күн бұрын

knowing your monthly bills as well as annual bills such as insurance and taxes is a very good thing and lets us sleep without issue. paid off house and cars is wonderful.

@FDR_progressive_liberal 29 күн бұрын

I always have a budget laid out for the month. I had a friend who didn't. He just whipped out some plastic to buy whatever frivolous item he just had to have that month. He bought boats and exercise machines for a bundle and then sold them 6 months later at a 60% loss. He and his wife had 7 credit cards between them, all maxed out. Needless to say he went into bankruptcy. Never did change his ways though.

@bob_frazier Ай бұрын

We went camping the first week our home was listed. So we did not respond to the first offer we quickly got. It allowed us time to get some other offers in before responding. Works!

@HolySchmidt Ай бұрын

Outstanding

@redhatbear1135 12 күн бұрын

We just replaced our 2002 minivan with a new minivan. We spent a long time figuring out which of the 2-3 vehicles that still had spare tires, had the fewest annoyances. Not sure buying a few years older would have worked, it certainly wouldn’t have been calming!

@Steve-gx9ot 28 күн бұрын

Good move, doing the same here, but staying put

@redhatbear1135 12 күн бұрын

We managed to get our wants so much in line with our budget that I can’t tell you how much we will spend this month, but I can guarantee, we won’t be overspending. Last month we overspent by the cost of a car, that we’d planned and search for for about 3 years!

@dbs555 25 күн бұрын

So what about those of us cleaned out by the ex-wife? She got everything plus eight years of alimony, leaving just enough to live on

@locusCeruleus 25 күн бұрын

Enjoy your freedom! No money is worth living with a miserable person, praise God

@Omikoshi78 23 күн бұрын

Youve perfectly described my 75 year old mom

@MarkJohnson-ht8wd 26 күн бұрын

I'm still working at part time. Friendly people at work and I get paid. Rewarding work in a hospital and it's interesting too.

@thomaschew2191 Ай бұрын

I know that there are some individuals and couples that have enough retirement income to begin their retirement with consumer debt and a mortgage. But I don't understand the thinking that just because your income is enough to pay your expenses and debt payments that it is a good idea to retire before all that debt is gone. For the average Joe I don't see how they can enjoy themselves with the stress of debt. In speaking with a friend, we touched on the issue of how much is needed in retirement investments to have enough money not to worry. When I mentioned that if you use the popular 4% rule and have one million dollars saved, that will allow you an annual withdraw of $40K. That is not rich. So, then the discussion moves to "well I cannot ever have one million in savings so I might as well be broke and have fun while I can." There seems to be no shame in being broke in our old age.

@jimfarmer7811 Ай бұрын

My uncle died in poverty in a Medicaid nursing home covered in his own filth. I wouldn't wish his last years of life on my worst enemy.

@larrywilliams5490 Ай бұрын

Im working on getting it right with HOLY SCHMIDT!😏

@De-Centralized Ай бұрын

Financial Literacy should be taught in highschool. But it's not. Ever wonder why...

@ScooterOnHisWay2024 Ай бұрын

The government prefers the population to be in debt. Desperate people tend to follow orders when given.

@duneme Ай бұрын

Teach Compounding! To me that is huge!

@pam5006 Ай бұрын

Financial literacy and other things like reading, math and writing literacy should be handed down from a parent. Can’t blame the government and school system for everything. I worked in the high school system and unfortunately the children didn’t behave, so they didn’t learn. My parents (may they rest in peace) taught me lots of things about money. Saving it, understanding the value of a dollar, where it could get the best interest, how to write a check, balancing a checkbook and other necessary things one needs to learn to survive. Hard for me to understand the “young people” taking selfies all the time and looking at their phone and not engaging in normal social behavior. I’m just old school.

@terryB4713 Ай бұрын

Geoff I'm asking if you could do a video on selling your primary home and exclusion of capital gain how does this work with IRS?

@richardb.7054 Ай бұрын

There's an old saying. Money talks, B.S. walks.😊

@HolySchmidt Ай бұрын

So true!

@tomj528 Ай бұрын

To be fair, many advisors advocate not looking at your investments so you're not tempted to make short term decisions. I also don't like budgets, they're miserable and are nothing more that a rough plan as you can't predict exactly what may come up. I prefer just spending as little as possible by finding better alternatives as it creates the maximum savings and it's a lot of fun too. For instances, someone was complaining to me recently about how they wanted to buy a 1.55oz Hershey bar at a convenience store but it was $4, although they still bought it. I know that the best price at the grocery store is $1.29 which is quite a savings. However, I buy semi-sweet chocolate chips when they're on sale for $1.99 and a 1.5oz serving is only 25 cents. Lately I prefer having 1oz which is just 17 cents and still enough to satisfy since they have almost 4 times the cacao of a Hershey bar and taste far better. The really funny part is that the cost of the 1oz chocolate chips is actually less than the sales tax alone on the $4 convenience store candy bar. The bonus is that I can enjoy chocolate while saving money, calories, carbs and with the chocolate chips and Dutch processed cocoa powder I can make anything chocolate. Now imagine doing this with everything.

@davidpowell3347 23 күн бұрын

Some of the semi sweet baking chocolate tastes better to me and seems of higher quality than the common brands candy bar chocolate. Not sure but I don't know if the famous brand chocolate bar is still made at Hershey Pennsylvania.

@tomj528 23 күн бұрын

@@davidpowell3347 As I recall a Hershey bar has 11% cacao and semi-sweet chocolate chips have 40% cacao, so quite a bit higher in quality.

@gregblair5139 22 күн бұрын

I got $2000 off the purchase price of my car by agreeing to take a car loan with a ridiculously high interest rate (I was planning to pay cash). The dealer told me to take the loan and pay it off immediately. That was very good advice as I got the money off and still got the $2000 of the purchase price.

@kevinfestner6126 29 күн бұрын

Am I obsessed if I keep a personal balance sheet?

@Markevans36301 Ай бұрын

I'm not intuitive about money so something that has helped me with debt is to divide out the principle and the interest on any debt I don't pay in full. It makes me pay attention to the interest. Owe a $1000? I'll pay $200 principle and then add the interest.

@PInk77W1 23 күн бұрын

2018 I was 56. I made $2300 a month take home I had $11k cc debt I was Paying $400 rent I had no savings. I was horrible. 2024 I am 62. I make $4200 a month take home (pension) I have $0 debt at all I have home paid off. I have $60k in savings