I very much agree with gifting rather doing a loan. Do you want to be that person's banker or their parent or grandparent? Can't have it both ways.
@ThisIsOurRetirement
2 жыл бұрын
Great comment Mary we agree, hope you are having a wonderful weekend Cheers 🍷🌻🍺🙂
@just42tube
2 жыл бұрын
@@ThisIsOurRetirement Think about this: parents have capital, which they would like to invest in real estate and child who also would like to buy a home, but doesn't have the money. Giving money would have tax consequences. But loaning money to the child for buying a home and using that as loan guarantee, would give the possibility to gradually over the years give smaller gift sums without tax consequences. The child would benefit from the possible increase in the value while parents could get some interest to their capital and perhaps also payments of the capital. Parents often, because of their more stable economic situation, can have access to cheaper loans as their children. If you plan to give money to your children as gifts and/or inheritance, loans can be a tool to make it more cheaply. But of course this is like any financial arrangement, where you need to be aware of the counter party risks. And relationship with own family can be too complicated and difficult to make such arrangements, I can understand that. But you have to remember there are family businesses and other situations, where such situations are unavoidable.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for your comment Cheers 🍷🌻🍺
@elterrifico9522
2 жыл бұрын
It’s Friday night, Nooohm. You’d better be editing up a storm.
@ThisIsOurRetirement
2 жыл бұрын
@@elterrifico9522 You bet El it’s not a storm Norms doing but a Tornado 🌪 coming see you Tomorrow 🍷🍺
@ScubaSteveCanada
2 жыл бұрын
My parents "gave" one of my siblings a "loan." It was never paid back. It grated on my parents for years that no payment was forthcoming. One day a nice sum of money appeared in my bank account. Asked my Mom what is this? She said she discussed it with my Dad and they agreed it wasn't fair to all of us (5 kids); once they could afford it, they gave the other 4 kids the same amount. That sibling never got another dime out of my parents.
@ThisIsOurRetirement
2 жыл бұрын
Wow that story is very close to home thanks for sharing Cheers 🍷🌻🍺
@rmac5575
2 жыл бұрын
Watching your videos about 10-15 years before retirement makes me feel as if I am at a HUGE advantage as we approach your phase of life. Thank you for the thoughtfulness you put into your content.
@ThisIsOurRetirement
2 жыл бұрын
Wow, thank you! glad you are enjoying them have a nice weekend Cheers 🍷🌻🍺
@marriejames01
2 жыл бұрын
Same! This just popped up on my feed today. God wants me to be prepared! 🙂
@traceynewdeck8526
2 жыл бұрын
Me too! Such great advice!
@eckankar7756
2 жыл бұрын
I hit the lottery years ago. Not the mega amounts that make the news but a nice chunk. It wasn't long until I was hearing from distant family members I've not seen in 30 years calling for loans. Some weren't politely asking some were demanding, some almost threatening. It was quite upsetting and for a bit I was sorry I won the money. I focused on what I could do to make this a totally positive experience for me and it came to me it's finally time I grew up and learned to say 'no' without guilt. the first was a cousin I've not seen in decades and didn't really like even back then, I told her 'no' and then declined to continue the conversation with her why I should owe her a loan/gift. I discovered if I didn't continue to engage in her tirade she had no power to continue to try to manipulate it. It was quite a freeing experience. I did it, I could say 'no' without guilt and learned to not carry on a conversation that didn't serve me emotionally. The win did turn into a totally beneficial experience. I invested, saved, donated sleep peacefully I served the money in my own way.
@ThisIsOurRetirement
2 жыл бұрын
Wow what a story thanks for sharing and we are so glad it worked out in the end for you , sometimes it’s hard but you do have to learn to say no in life . Have a great week Cheers 🍷🌺🙂
@pamcornelius9122
2 жыл бұрын
I am so grateful to own a house in the downtown area of a small quaint town 30 minutes south of Atlanta. It has a separate two bedroom apartment with it’s own garage and a separate entrance. The income from the apartment pays for the upkeep of the main house where I reside.
@ThisIsOurRetirement
2 жыл бұрын
Sounds like a great plan in place Pam have a wonderful weekend Cheers 🍷🇺🇸🇨🇦🌺🙂
@cathyallshouse2981
6 күн бұрын
Extremely smart investment!
@daviddean6032
2 жыл бұрын
Tina and Norm, I remember when I was even a teenager my grandmother would proudly announce, "I'm on a senior's pension," when dealing even with business people and often she got a bargain and rightfully so.
@ThisIsOurRetirement
2 жыл бұрын
David your Grandmother sounded like an awesome women, nothing wrong with what she said.
@Staronqueen
2 жыл бұрын
Another great video; you are not afraid to address the elephant in the room. A few years ago I lost a friend when I said no to her request for a loan. I felt that the friend was very unreasonable for asking; and I said no because I saw her as irresponsible with money. There is a saying “ a bird in the hand is worth two in the bush” so I took my CPP ten years ago at the age of 60. I wasn’t going to wait 10 more years for a bigger cheque. I did the math, and considered other factors, like my neighbour who died on the day he was eligible to collect his first CPP cheque. Ten years later, I am still satisfied with the decision I made back then.
@ThisIsOurRetirement
2 жыл бұрын
Thank you so much for your wonderful comment, we feel if we can share ideas it might help one person who would be unaware of a point or give strength to someone who is facing a decision like you had to. We feel the same as you about CPP. Have a nice weekend.
@markdraper4087
2 жыл бұрын
Some people out there might not like what you're saying, but you are spot on accurate. I've seen families tear themselves apart because of loans, co-signing, inheritance, etc. As usual, great points. I'm glad your channel is gaining popularity. It's well deserved.
@ThisIsOurRetirement
2 жыл бұрын
Thanks Mark, the truth can be painful but being informed is half the battle. Thanks for watching and making a great comment.
@jennyd9543
2 жыл бұрын
Your comment about inheritances is so right on. I've seen multiple situations where people didn't get expected inheritances. In one case, the person did no retirement money planning because of an anticipated inheritance and now she is in a terrible financial situation. Always view an inheritance as a possible bonus not a sure thing.
@ThisIsOurRetirement
2 жыл бұрын
Great comment Jenny and so true , have a wonderful weekend Cheers 🍷🌻🍺
@sct4040
2 жыл бұрын
I would not leave an inheritance to a someone who didn't plan for her own retirement. It shows great irresponsibility, and immaturity. I would rather leave it to a charity.
@MagentaOtterTravels
2 жыл бұрын
Good point about your house owning you! Once I adopted that “millionaire next-door“ mindset of not defining myself by my possessions or achievements, it made a huge difference! I don’t care if my house is much smaller than my friends or if we drive an old car or if I don’t have the latest fashions. I know I have a lot more net worth than all my friends who have those things 🤑
@ThisIsOurRetirement
2 жыл бұрын
Love that! thanks for sharing have a wonderful weekend Cheers 🍷🌻🍺
@sct4040
2 жыл бұрын
It's so much better to be able to sleep at night without worries. And have the money to pay for necessities ahead. For example, hubby has to have dental implants and that cost 6k in NYC. He became deaf in 1 ear last week, after years of wearing hearing aids. We probably have a huge copay or deductible for the cochlear implant ahead. So glad we have the money saved.
@MagentaOtterTravels
2 жыл бұрын
@@sct4040 absolutely! I totally agree. I hope everything goes well with that procedure!🙏
@janetkenny4861
Жыл бұрын
Another one is helping adult children with starting a small business. So many fail, especially food or restaurants. My parents helped a sibling with a restaurant startup, a sure thing. They cashed out retirement funds to “buy in” and be part owners. It was profitable only after 5 years, and I’m sure they put additional capital into operations. 7 years in it folded, in debt. It hurt parent’s retirement. They also said it would come out of her share of inheritance, but that was not the case when the last parent passed. If you really do want to leave something to children, consider these things along the way, it does impact the future and relationships. Btw, my daughter wants me to spend every dime having fun in retirement ❤😆
@ThisIsOurRetirement
Жыл бұрын
Thanks for sharing Janet very sad when something like that happens Cheers 🍷🙂🌺
@Pops2
2 жыл бұрын
People often think their elder relatives are doing better than they really are. Life is complex and expensive.
@ThisIsOurRetirement
2 жыл бұрын
Interesting point, thank you!
@Pops2
2 жыл бұрын
@@ThisIsOurRetirement Great advice. It's tough and necessary to set boundaries and limits, and it can be an uncomfortable conversation but you explain it so plainly and sincerely which will help your listeners take this important stance. Thank you.
@ThisIsOurRetirement
2 жыл бұрын
@@Pops2 Your very welcome have a wonderful weekend Cheers 🍷🌺😎
@johnnyv5995
2 жыл бұрын
Cool T-shirt Norm ;) Renting not an option for me, there are way too many 'renovictions' going on and the idea that anyone can kick you out at anytime scares the $hit out of me. Downsize, execute major repairs while you are still working(roof/hvac/windows) in the last 5 years of your career and make sure you have $ set aside for maintenance and future repairs.
@ThisIsOurRetirement
2 жыл бұрын
We are all different for us it worked out perfect , renting with rent control and from a large corporation Cheers 🍷🌻🍺
@RetirementbyDesign26
2 жыл бұрын
Great advice! We expect to have a quite comfortable retirement. It’s all of the reasons why we are not going to divulge to anyone how well we’re doing 🤫 we keep a low profile anyway. We plan on traveling often and like you’ve said, we’ve earned it!!! Thanks again for your sound, practical advice
@ThisIsOurRetirement
2 жыл бұрын
Sounds like a great plan Darcell fly under the radar, thanks so much for watching. 😀😀
@jimwulstan8592
2 жыл бұрын
It sounds like a terrible thing to say, but in my experience never trust anybody with money not even your own family. This is from personal experience. Thanks very good advice.
@ThisIsOurRetirement
2 жыл бұрын
We agree it pays to be cautious or ruthless take your own course
@sct4040
2 жыл бұрын
I think it is extremely important to communicate with your children regarding finances and expectations. Also, to be fair and treat each child equally. We never know the future, just because 1 child said she will study pharmacy, doesn't mean she will actually go into the profession. People do change. The child who didn't have a college major in mind, might turn out to be the one who makes the money. 😊I should know 😊. The resentment from treating children unequally will last forever and destroy relationships way past the parent's lifetime.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for your comment we have and always will treat both our children equally hoping you have a wonderful week Cheers 🍷🌻🍺
@karenuhrich9683
2 жыл бұрын
Great video! I can relate to so many of your points and have been guilty of them. Being a single woman with adult children who are not in financially great positions (one moved back in with me) I realize I need to be so much more careful with my money now. Thank you for reminding me!!
@ThisIsOurRetirement
2 жыл бұрын
You never stop being a parent and caring Karen , have a wonderful weekend Cheers 🍷🌻🍺
@kenhuang4697
2 жыл бұрын
wow so honest about loans to close family members!
@ThisIsOurRetirement
2 жыл бұрын
Thanks for watching glad you liked it Cheers 🍷🌺🙂
@twotipsytravelers6701
2 жыл бұрын
Great video. My husband and I have been through many permutations of these pitfalls but we were able to manage them successfully. My son moved in while he took a course (we charged him rent); my stepson required his father to co-sign his mortgage (that was discharged after three years) and I have helped my children on occasion with small loans (all paid back). I guess it all depends on the integrity of the parties involved. As we get older I don't think we will be doing any of these things again but at the time we were able to do it. And great advice about expecting an inheritance or getting tempted by investments schemes. If it sounds too good to be true, it probably is! Take care!
@ThisIsOurRetirement
2 жыл бұрын
Hi Guys, We have helped our children too and you are right about integrity. These points are probably more relevant when we become elderly. Have a great weekend and enjoy your wine! 🍷
@dellnichols4625
2 жыл бұрын
A great video! Don’t let anyone “guilt” you into co-signing, loaning, making your home a free B&B, etc. if you are feeling guilty for not wanting to help, that is a huge danger sign. Helping because you have the funds and the desire to do so ON OCCASION is a blessing to the giver. Putting your own financial health in jeopardy is unwise.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for your comment Dell have a great weekend Cheers 🍷🌻🍺
@qq2441
2 жыл бұрын
Soooooo true what you say about home expenses.... there's always something to fix! I recently had to deal with a broken garage door. And hate to say it but the floor there also needs an expensive repair 😞 Good topic.... thanks again. Have a great week 🇨🇦♥️🇺🇦
@ThisIsOurRetirement
2 жыл бұрын
We hear you we remember those moments when we had the house LOL 😂that’s why we now rent!! thanks for watching have a wonderful week Cheers 🍷🇨🇦🌻🇺🇦🍺
@AnnMitt
2 жыл бұрын
Excellent tips! I'm three years away from retirement, if my company doesn't get rid of me sooner! I'm so looking forward to this next chapter in my life.
@ThisIsOurRetirement
2 жыл бұрын
You got this! all we can say Ann it’s awesome grasp with both hands Cheers 🍷🌻🍺
@missygilly9917
2 жыл бұрын
You’ll love retirement! I know I have for past 3 years! I’d been working since I was 15, thought I’d never retire…what would I do? But it’s been awesome!
@ThisIsOurRetirement
2 жыл бұрын
@@missygilly9917 We are so glad you are enjoying your retirement you have earned it cheers 🍷🌻🙂
@jackiebennett3762
Жыл бұрын
Tina I love your hair. I am retiring in two years. I was nervous but you and Norm have eased my mind and I am looking forward to it
@ThisIsOurRetirement
Жыл бұрын
Thanks Jackie, we are glad you found some value from our videos. Good luck with your retirement, just keep planning.
@StephenOshea
2 жыл бұрын
i will watching for all of these money traps . thanks so much for posting
@ThisIsOurRetirement
2 жыл бұрын
Your welcome Stephen glad you enjoyed it Cheers 🍷🌺😎
@liedyMc
2 жыл бұрын
Hi Tina and Norm , we have been renting our place for over 10 years , we have been given notice as you are aware rents everywhere have almost doubled 😱 this will be huge … it will work out but a huge chunk of disposable income will go to rent . I took my CPP at 60 and enjoyed it for 12 years like you just in case. Yes always make a gift , I learned that one , have a great weekend:)
@ThisIsOurRetirement
2 жыл бұрын
So sorry to hear that Liedy, are they selling the place ? glad you have found somewhere but sorry it will cost more . We too are glad we took our CPP early, yes we all learn from the past 🤔hope you can still have a drink 🍷and enjoy your weekend Cheers 🍷🌻🍺
@liedyMc
2 жыл бұрын
@@ThisIsOurRetirement it’s a hot market double what these Condos were selling for 14 years ago new ? And as you mentioned the maintenance and assessments can become very costly! Our investors is selling all of their investments, before the government starts to implement new capital gains on investment properties..it’s talk right now but enough to get investors to rethink their portfolio’s:)
@fcf777
2 жыл бұрын
That's the risk of renting. Yes, there are costs to owning even a fully paid home but those can be mitigated by maintaining an emergency fund. Owning a condo is another matter since one cannot predict nor prevent maintenance fee increases but I suppose there will always be pros and cons to any choice.
@jackiecouncil7809
2 жыл бұрын
@@ThisIsOurRetirement In the US, you have to make three times the rent to get into an apartment or home.
@stevewilson5292
2 жыл бұрын
Another very interesting and "to-the-point" video ! The "gifts and loans to children and grandchildren" section particularly resonated with me. My grandparents were put in that position years ago by an "ambitious" cousin. The whole attempt to get a loan fell apart after other family members learned about it but it caused a rift in the family that was never completely healed. How to avoid that ? I guess the only way is to let the family know you're "not made of money" and discourage them from thinking that you're "The Bank of Dad" ?
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing your story Steve sometimes it’s hard to say No , but in the long run it probably is helping Cheers 🍷🌻🍺
@ScubaSteveCanada
2 жыл бұрын
How to lose friends and family ... loan them money; don't do it is the answer.
@daisy_naples
2 жыл бұрын
@@ThisIsOurRetirement gfs
@ThisIsOurRetirement
2 жыл бұрын
@@ScubaSteveCanada You got it Stephen 🍺🌺
@ThisIsOurRetirement
2 жыл бұрын
@@daisy_naples Thanks for watching 🌺
@robertagardner5079
2 жыл бұрын
You are so, so right! You are reiterating what my late husband used to say, and what he told his adult children. That didn't stop them from asking.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing Roberta , hope you are enjoying a nice weekend Cheers 🍷🌻🍺
@tamick2000
2 жыл бұрын
I learned at a young age that I needed to be 100% responsible for myself financially. My parents divorced when I was a teenager and my mom was just able to pay for essentials so I never grew up used to having a parent who could co-sign or lend money. I learned to be self reliant and responsible.
@ThisIsOurRetirement
2 жыл бұрын
That’s a tough lesson your learned but sounds like you did just great we have always done the same stood on our own two feet 👣. Have a great weekend Cheers 🍷🌸🍺
@tamick2000
2 жыл бұрын
@@ThisIsOurRetirement actually it was not tough at all. My whole family operates this way, even with great financial resources. Delayed gratification is great and something I have passed on to my daughter. Her dad and I have the means to buy her anything, but we did not. She is driving a 28 year old car she brought from my mom. When she finishes college, she may decide to buy something else but she actually doesn't care for fancy things. Love your channel!
@ThisIsOurRetirement
2 жыл бұрын
@@tamick2000 Thanks so much we appreciate your support 🌻
@samuelwilkinson3666
2 жыл бұрын
Hi Tina and Norm, we recently retired bought a condo and sold the family home. Looking forward to the east coast for the summer and Portugal in the winter. No more landscape and snow shoveling. I'm thinking of an indoor vertical vegetable garden. Thank you for the great info. P.S. maybe an in site to the grandparents scams, bail money is a cashier's cheque not cash. Ty cheers
@ThisIsOurRetirement
2 жыл бұрын
Congrats 🥳 on your retirement Samuel thanks for mentioning the Grandparents scams that are all in the news at the moment , maybe we might meet next Winter 🥶 in Portugal 🇵🇹 Cheers 🍷🌻🍺
@richardackley1823
Жыл бұрын
Oh and I forgot to mention how nice your Blue background lighting is. Very soothing and comfortable. I really like the blue color. In fact I have Blue nightlights throughout my apartment, it’s very relaxing and I can navigate at night without turning on the bright room lights. I thought Red lights would be better but I quickly turned to Blue because my vision was better and much more peaceful. [Seattle Washington]
@ThisIsOurRetirement
Жыл бұрын
Thanks so much!
@desertfish6239
2 жыл бұрын
A couple years ago we informed our kids they are adults now and would be removed from our cell phone accounts, AAA membership, Amazon Prime access, etc. They were a bit surprised as they had paid us their share of the cell phone plan each month as well as movies on Prime, etc. We told them we would no longer be a bill collector and they were adults who would take responsibility for their phones, AAA, etc. It all adds up. They took the news better than we thought!
@ThisIsOurRetirement
2 жыл бұрын
Very good point, as we get older is nice to simplify your life, stream the boring bill paying stuff. Good for you making these decisions, we always think people will take things negatively but mostly they don’t. Thanks for sharing your experience with us!
@gordduncan5859
2 жыл бұрын
I agree with not getting into a condominium, at least not the type run by a board. Some people want to keep the maintenance fees at a minimum and don't support spending money on regular maintenance. When the parking lot needs to be worked, on the lack of maintenance may mean ripping it all up and then replacing it, rather than simply patching it. Some folks can't see beyond their nose! If a condominium is in your plans, get one in which you own both the building and lot and you can control having necessary maintenance done instead of others not wanting to spend money at all.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing your thoughts we appreciate it Gord Cheers 🍷🌻🍺
@kenhuang4697
2 жыл бұрын
Watched videos of Portugal then get hooked on your retirement videos lol liked, subscribed and watched your ads!
@ThisIsOurRetirement
2 жыл бұрын
Thanks Ken that’s great we appreciate your support have a lovely week Cheers 🍷🇵🇹🇨🇦🌺
@petetruch4388
2 жыл бұрын
Another great video. Thanks. We did a few of your no-nos over our 14 years of retirement, but one in reverse. We recently moved in with our divorced son, 2 grandchildren aged 6 & 11 and took in a puppy (11 months ago now). It makes for an interesting "retirement", especially now that I've had ALS for the past 2 1/2 years. My son thought he could take better care of us in Kelowna rather than Calgary.
@ThisIsOurRetirement
2 жыл бұрын
All situations are different 🌺 we think it’s wonderful that your son has taken you in and sounds like it works for everyone, we wish you all the best take care and enjoy your weekend Cheers 🍷🌻
@marjolainejane1506
2 жыл бұрын
Definition of love Pete & my three kids are the same. I have lent them money & it has always been returned with gratitude. I couldn’t help them with university but they self financed with scholarships & work. We all know we can count on each other.
@maureenpluthero8543
2 жыл бұрын
Great video, so many great points. I was always thinking I should pay for dinner at a restaurant and it was actually my kids that said "no you got it last time" I also sold my house and purchased a condo, fortunately my condo fees are low as I bought in a brand new building. I had thought I would stay here until they took me out in a box. However after watching your videos and seeing the value of the condo almost double (lucky me) I am thinking I will probably sell and rent an apartment in the next few years. I had only looked at keeping my cost of living down I had not even thought of the interest from the money paying my rent. This is why videos like yours are so wonderful as it gets you to think about the alternatives to how you are managing.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing Maureen those Condo fees do rise even in new buildings, we are pleased you are finding our videos helpful have a wonderful weekend Cheers 🍷🌻🍺
@benyablonski6278
2 жыл бұрын
Wow! Very good Tips. Appreciate it. Excellent; a) Grown kid moving home after divorce, I was not aware of this trend. b) Condo fees creeping up.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for watching Ben glad you enjoyed it have a wonderful weekend Cheers 🍷🌻🍺
@stgermain1074
2 жыл бұрын
I guess I'll always have a home. My small farm is paid off, and I save a mortgage payment every month not having to pay for board for my horses. Of course, when I didn't have a farm, I only kept one horse. As long as I can manage to do the work on my farm, I'll be here. The woman who owned it before me died at home at 100 years old. I'm hoping to do the same. When our parents died, I, the youngest, had been appointed executor of their estate. I made sure my siblings and the grandchildren understood that once the estate was distributed, that was the end of the bank of mom & dad, and I wasn't going to step into that role. My siblings haven't asked it of me, because I set expectations up front. I think it wouldn't be a bad thing to have a family meeting or group chat at the time you're getting ready to retire to spell out to the next generation(s) that you no longer intend to finance their lives. Christmas and birthday presents, fine; but no major cash outlays. Get them to understand this before that embarrassing dinner table conversation. My step-father is 90 and his younger brother (in his 80's) still expects the older sibling to foot the bill for everything when the younger brother comes to visit. His children also expect him to pay their way. When he lived near me, we would have dinner out every other week and would take turns paying the bill.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing your story you sound very well organized have a wonderful week and we appreciate you watching our videos Cheers 🍷🌻🍺
@carolynw4814
2 жыл бұрын
Thanks, Tina and Norm for another very informative video. You guys remind us of things can that cause us pain in our retirement, if we don’t pay attention. Based on your advice, I aspire to one day sell my house and rent an apartment. I don’t won’t want deal with house repairs forever. Thanks again.
@ThisIsOurRetirement
2 жыл бұрын
Thanks so much Carolyn we really appreciate your support, have a nice weekend.
@CLdriver1960
2 жыл бұрын
Thanks for yet another very informative video! These are a few points I had not thought of, but make good sense. I recently retired (January 28th) and my bride retired last year. There’s still the uncertainty of the financial markets at the present, but we’re looking forward to our next chapter in life, and the travelling we intend to do. Cheers!
@ThisIsOurRetirement
2 жыл бұрын
Congratulations 🥳 on your retirement, and your wife’s last year 🥂we hope you enjoy travelling together and creating lovely memories Cheers 🍷🌻🍺
@phildodd5532
2 жыл бұрын
Tina and Norm, you guys are Terrific together. You complement each other Extremely well ! I am so glad you are straight up and honest and do not try to "sugar coat" things like so many Vloggers do. Thank you !
@ThisIsOurRetirement
2 жыл бұрын
Thanks Phil that’s great to hear have a wonderful weekend Cheers 🍺🌻🍷
@davidpearson243
2 жыл бұрын
We have planned our retirement with out an inheritance (we are retiring at 56 and 55 ) we have told the children we can’t help you with loans etc but they will share any inheritance we will receive as both our parents have nice houses but are still very well and active The only issue I would disagree with is renting we paid our mortgage off this is why we can retire as we save £650 per month that we were paying on a mortgage (that’s our holiday fund)
@ThisIsOurRetirement
2 жыл бұрын
We are all different David we too had no mortgage 💸, but selling the home investing the money gave us freedom no unexpected maintenance and expenses and the stress of home ownership. By the way doing that gave us the holiday fund for travelling 🌍✈️🚢 Cheers 🍷🌻🍺
@robocop581
Жыл бұрын
My wife and I didn't have issues co-signing a mortgage with our daughter. It all worked out in the end as she started with a condo and now owns a house after moving up the property ladder. Our contribution was an interest free downpayment which we got back after four years
@ThisIsOurRetirement
Жыл бұрын
We are glad in your case that it worked it so many cases it doesn’t, you have to be very careful lending family money especially if you can’t afford to loose it ! Cheers 🍷💰🍺
@ameliaclark5792
2 жыл бұрын
I took my Cpp at 62 and get my first OAS one month after my 65th birthday. Anything can happen accident, illness… I want to enjoy it now when I can still travel.
@ThisIsOurRetirement
2 жыл бұрын
We so agree Amelia we both took CPP at 60 and OAS at 65 and loved spending it on travel 🌍Cheers 🍷🚢✈️🌺
@rosaannarilli4905
2 жыл бұрын
Hi Tina and Norm, you guys are awesome, I always learn something new! Great, great advice on family. A lot of parents think that showing love to their kids and grandkids is giving them money, but it's not, it's teaches them nothing. Hope your day is going well!
@ThisIsOurRetirement
2 жыл бұрын
Hello Rosa, You have summed it up beautifully, we really appreciate your support, have a great weekend.
@rosaannarilli4905
2 жыл бұрын
@@ThisIsOurRetirement Thank you so much!
@ThisIsOurRetirement
2 жыл бұрын
Your welcome 🤗
@eastend2005
2 жыл бұрын
Great summary. One skill many adults lack is the ability to say "no" because they want to nice to everyone. That's just setting themselves up for failure later. Setting expectations early (as in the examples of buying a meal for family, co-signing, loan to family members) could go a long way
@ThisIsOurRetirement
2 жыл бұрын
So very true thanks for watching have a wonderful weekend Cheers 🍷🌻🍺
@janebaldock7995
2 жыл бұрын
Hi Tina and Norm. Lovely to hear your great video advice whilst enjoying my safe trip to Portugal. So happy I risked it, it's been a delightful change to my solo existence in Ontario: café culture abounds! Totally agre with all your comments about derailing retirement although the part about loans. My grown up 'child' at 28 has been a slow learner in budgeting., with other mental health issues. With a short term loan he has begun to learn the reality of needing to 'pay it back'. He didn't recognise this with larger institutions like banks, indifferent to 'red statements'! So have successfully taught him how to learn about budgeting and responsibility to pay back loans before another expenditure. The bank of mum is now closed and he is now competent to seek other venues to buy what he wants. I'm grateful for being brought up in UK during the 50's/60's when money was really short!
@ThisIsOurRetirement
2 жыл бұрын
So glad to hear from you Jane and that you are having a good time in Portugal, the coffee in Portugal is great, the cafe’s are so good. It’s great you were able to help your child with an important life skill. Yes growing up in England during the 50/60’s did in-still a sense of frugality. Stay safe and enjoy your time in Portugal we are envious lol.
@janebaldock7995
2 жыл бұрын
@@ThisIsOurRetirement thanks for your reply. Because of my subscription to your channel, I can share and vicariously enjoy all your comments about retirement in Canada for a fellow Brit., despite being now single. Very much appreciate your insights and enjoyable discussions. Keep up the good work, it was essential when living in isolation in Ontario these past long months before escape to a more 'alive' environment here. Next winter you must come over, you'll be embraced by a life loving culture.
@ironmantran
2 жыл бұрын
So, start having selective hearing problems, unplug the phone, turn on the a.m radio, and give what u can. GOT IT !
@ThisIsOurRetirement
2 жыл бұрын
Thanks for watching Timothy Cheers 🍷🙂🍺
@JP-tq7ni
2 жыл бұрын
When travelling I often stay at AirBnB. And I see so many retired people - very often ladies - who offer a room on AirBnb. Great hosts. Often Single or widowed. They know a lot about their region. They enjoy the conversations with guests plus extra income. Perhaps you could do a video. Not every retiree is in a couple situation. Many travel solo. In that regards Portugal has a lot to offer in terms of reasonnable priced hostels and AirBnb. Thanks for your great videos. I never miss one!
@ThisIsOurRetirement
2 жыл бұрын
It is difficult for us to talk about solo travelers as we are a country and have not travelled solo.
@eigobike3929
2 жыл бұрын
I am indebted for my child’s university education.
@ThisIsOurRetirement
2 жыл бұрын
Both our children helped pay for their university it was something that we wanted to do for them Cheers 🍷🇺🇸🇨🇦🌺
@TJones-gj2fi
2 жыл бұрын
All very good points know friends who’ve been affected by one or more of these - people should take heed.
@ThisIsOurRetirement
2 жыл бұрын
Many of these points have a lot of emotions and feelings around them, we thought for some of our viewers maybe take time to develop a response before one of them happens. Thanks so much Tameka for your comment.
@doris3594
2 жыл бұрын
Watched this while remotely working at home while my retired husband was staining the deck…..which took countless hours because our huge wooden deck had to be thoroughly cleaned, and the price per gallon for stain was $100 at the paint store so he bought a cheaper Home Depot brand and the cheaper stain is putrid…. Our house is a money pit and our adult son lives with us because he cannot afford the skyrocket rents in San Francisco …. $2k per month for a tiny studio apartment… so we are stuck for now…. But when he eventually moves on we will consider selling the house, moving to an affordable town outside of California and rent! I plan to retire next March. Thanks for the great videos and insight. We need all the advice we can get. Much appreciated!
@ThisIsOurRetirement
2 жыл бұрын
Oh wow sounds like you have your hands full , we are glad you are enjoying our videos and we wish you well with your plans for your retirement next Year . Have a wonderful week Cheers 🍷🌺🙂
@erinpeacexo1854
2 жыл бұрын
Agree with everything you said. We are in the process of getting our house ready to sell. Downsizing - its too big and too much maintenance. Very good advice on all counts!!!!
@ThisIsOurRetirement
2 жыл бұрын
Thanks so much Erin, we wish you well with your downsizing!
@darrylmcleman6456
2 жыл бұрын
I live in an old mobile home.I have to go up on the roof and paint it with rubberised roof coating every few years. I will soon be 70 and am telling myself this is the last time and I ll hire someone next time! I dont like heights!!! Other than that things are not too bad! CHEERS from HERE!
@SimonEllwood
2 жыл бұрын
There are rubber membranes with 25 year or higher warranties. If you do pay someone consider something like that.
@ThisIsOurRetirement
2 жыл бұрын
We think that’s a wise move to hire somebody to do it for you Darryl Cheers 🍷🌻🍺
@ThisIsOurRetirement
2 жыл бұрын
Great Idea 💡 and info Simon thanks 🍷🌻🍺
@darrylmcleman6456
2 жыл бұрын
@@SimonEllwood that is exactly the plan !!!
@rustykatt3870
2 жыл бұрын
@@SimonEllwood Hi Simon...good idea! Just pay a company to do it.
@ddavidson5
2 жыл бұрын
With regards to co-signing... I did sign an apartment lease for one of my daughters, essentially the lease is mine and she is listed as a resident. At the time, due to some challenges, her credit score was non-existent and she was living in an illegal, and I would say unsafe, basement apartment with several community college students much younger than her. I felt she had her life back on track and was worth the risk. That was 10 years ago and she is still in that GTA rent controlled apartment (and it's still my lease to keep the rent control in place), she has built up her credit score and paid her own way from the beginning, sometimes with a roommate to make it work. On occasion it really can be a hand-up rather than a hand-out. One thing I would advise is to stay married if you can. "Grey divorce" seems to be a thing these days but divorce is a nuclear meltdown when it comes to retirement finances.
@ThisIsOurRetirement
2 жыл бұрын
Your story with you daughter sounds a wonderful one thanks for sharing sometimes we all need a bit of help have a wonderful weekend Cheers 🍷🌻🍺
@jacquibrooks7059
2 жыл бұрын
Loved this video, all points are so true. It really mad3 me smile regarding paying for the family meals and our kids expecting us to carry on paying and also when they come to us and say “can I just borrow …” as you know you will never see that money repaid 😀
@ThisIsOurRetirement
2 жыл бұрын
Absolutely!! guess they always get used to us being the parents Jacqui , have a wonderful weekend Cheers 🍷🌻🍺
@libbyannstew8775
2 жыл бұрын
Hi Norm & Tina - great video! We feel the same way you do about condominiums. I know two former condo owners who had to sell their condos due to those hefty bills you spoke of and a raise in the monthly condo fee. We haven’t downsized yet but one thing we will consider for our next home, whether it’s an apartment or a house, is that it’s fully accessible. We don’t want to move from our current home and then have to move again. We hope to age in place so having a walk in shower, wider doorways to accommodate a wheelchair or walker, etc will be important for us. All those retrofits can be tough on the budget when on a fixed income. Thanks for an informative video - keep up the great work!
@ThisIsOurRetirement
2 жыл бұрын
You make a great point Libbyann and it’s great that you are thinking ahead, thanks so much for sharing your thoughts.
@libbyannstew8775
2 жыл бұрын
@@ThisIsOurRetirement Thanks Norm & Tina - the challenge now is to find an apartment or a bungalow. You made your move at the right time! Enjoy your morning tea and coffee. Have a lovely Sunday.
@rustykatt3870
2 жыл бұрын
@@libbyannstew8775 Hi Libby. Yes, retrofits can be though on the budget, but please research the internet and look at programs that your province, territory or state may have to offer to help. Terms like "Retrofit" "Canadian Government" "Grants for seniors" "Age in place" etc. Sometimes there are incentives to help people age in place. Best of luck 😊.
@libbyannstew8775
2 жыл бұрын
@@rustykatt3870 Thanks Rusty. All great suggestions. My husband has a contracting business so fortunately we’re well tapped in to the support programs as many of his clients are downsizers or seniors who need retrofits. The other thing we are seeing in our area (which is just east of Toronto) but probably happening elsewhere, is small homes are being torn down, larger ones built in their place, which is resulting in property taxes rising over time to the point where seniors are priced out of their own homes. So that loops back to what Norm & Tina said about “our homes owning us…”. My husband has had 2 clients who’ve been forced out of the homes they’ve raised their families in because they can no longer afford the property taxes. That gets me going on another tangent but I won’t clog up N & T’s channel with my thoughts on that.
@ThisIsOurRetirement
2 жыл бұрын
Good morning ☕️ our last home which we sold was a bungalow, that made us see the beauty of the apartment we are now in as it’s just like our bungalow but without all the unexpected maintenance and expenses of home ownership, have a lovely Sunday 🌻☕️
@kamidsjournee
2 жыл бұрын
Thank you for the advice. When our daughter went to college we signed the parent loan for her. She graduated in 2014. She chose not to go into her field of degree. Then We discovered she was not repaying the parent loans and it was damaging our credit. So, I took over the loans and have paid more than $24,000. I’m retiring in May and will continue paying that loan for at least another year. I have to look at it as a gift or I’d be resentful. Looking back, I wish we would have thought more about our future and less about her university.
@feleciawallace8420
2 жыл бұрын
@kamids -- terrible of your daughter to do such as thing, but you're wonderful to consider the studen-loan a gift to keep the peace, hopefully she'll repay you later on in her life when she's in a better place financially. My daughter also incurred student loan debt during her study for a Masters degree here in the US... but I would never sign-on for her or with her involving loans I told her it must be fully in her name only. Thank goodness I did that, she had no choice but to pay her own debt after graduating from college... thankfully she stuck with her degree choice and still lives at home while working in her field she also helps pay household bills plus part of my mortgage (I raised her alone as I'm divorced, her father help pay undergraduate degree-college-expenses) it's working out fine for the both of us currently, but I taught her early to stand on her own from the start while in college as well as the value of a dollar to include how to manage financial risk and debt.
@ThisIsOurRetirement
2 жыл бұрын
Wow Kamids thanks for sharing your story , in the end it has to become a gift and then just forget about it ,have a wonderful weekend Cheers 🍷🌻🍺
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing your story you should feel very proud have a wonderful weekend Cheers 🍷🌻🍺
@chrish9155
2 жыл бұрын
I like the way you talk. Gentle and pleasant.
@ThisIsOurRetirement
2 жыл бұрын
Thanks so much Chris we appreciate your kind comment.
@johnkeller464
2 жыл бұрын
Now I know why my wife and I are retiring from the practice of law on March 31, 2022, with 30 and 43 years of work experience. Given your explanations of traps, pitfalls , etc, and if people follow your advice, you would be cutting into our sources of income in straightening out the financial dilemmas people get themselves in.
@ThisIsOurRetirement
2 жыл бұрын
Not everyone is well planned and financed for retirement having to make compromises when they retire. Congratulations on you having made a good retirement.
@KonaBean1
2 жыл бұрын
Really appreciate your perspectives on retirement. Valuable information and very well presented. I’m 53 and just finishing up a divorce. Not what I wanted, but it is what it is. Looking to retire around 62, would like to go sooner, but I’m working on planning right now.
@ThisIsOurRetirement
2 жыл бұрын
Sorry to hear about your divorce, all we can say is we took early retirement at 58 and 60 and so glad we did, if you can plan to do it sooner and enjoy it we wish you well Cheers 🍷🌺🙂
@cindearbuckle6074
2 жыл бұрын
Hello Tina and Norm ✋Tina I like your hair ! Thanks for sharing this info. Never have or ever will co sign . Just found this out in Indiana if your retired you get a break on property taxes and if you are disabled or veteran you pay zero. Have a great week from small town in USA 🇺🇸
@ThisIsOurRetirement
2 жыл бұрын
Thanks Tina had just been to her hair dresser, sounds great from the different states and property taxes thanks for sharing 👍
@alicecoppers8980
2 жыл бұрын
Met Jimmie Page at West Coast Music in 1970. Wow, what a talented man. He played a classical piece for everyone..
@ThisIsOurRetirement
2 жыл бұрын
He is a great musician and a great band. Glad you met him.
@suzierice9730
2 жыл бұрын
Couldn’t agree more! Excellent points. My husband and I are in our mid-fifty’s and will be retiring in 2 years. Love all your videos. Learning lots from you two. Thank you 🙂.
@ThisIsOurRetirement
2 жыл бұрын
So glad you are enjoying and finding our videos helpful Suzie ,have a wonderful weekend Cheers 🍷🌻🍺
@lights80088
2 жыл бұрын
I discovered you both a little while ago and you are two delightful people. I'm getting ready to retire in about a year and you've been very helpful. Thank you for your wonderful, helpful videos.
@ThisIsOurRetirement
2 жыл бұрын
Welcome aboard! glad you enjoy our videos Tom have a great weekend Cheers 🍷🌻🙂
@patassion
2 жыл бұрын
Yes I did that for my daughters first house and was very stressful. She eventually sold and bought her next one she bought on her own.
@maureenpluthero8543
2 жыл бұрын
When I sold my house 5 years ago it was a young couple buying it. I asked the real estate agent how a young couple affords to buy such an expensive first home. He said the bank of mom and dad, I laughed and said this mom does not have that kind of bank.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing Pat , have a wonderful weekend Cheers 🍷🌻🍺
@ThisIsOurRetirement
2 жыл бұрын
Great story Maureen thanks for sharing Cheers 🌺
@paulinetan781
2 жыл бұрын
very wise sharing. Thank u
@ThisIsOurRetirement
2 жыл бұрын
Glad you enjoyed it have a wonderful day Pauline Cheers 🍷🌸🍺
@Jimbo3242
Жыл бұрын
Fun comments. We went out with our mom for her birthday. We were all prepared to pay separately and her bill and she turned around and paid the bill. Super strange but that's my mom.
@ThisIsOurRetirement
Жыл бұрын
Sounds really nice 🌺🙂
@DougSladeStuff
2 жыл бұрын
Great videos! And Love the Led Zep t-shirt as well! Cheers!
@ThisIsOurRetirement
2 жыл бұрын
Glad you like Norms T-shirt he has a lot of nice ones ! have a lovely weekend Cheers 🍷🌻🍺
@The0Patt
2 жыл бұрын
We call that "The Bank of Fossils"
@ThisIsOurRetirement
2 жыл бұрын
Thanks for watching have a great weekend Cheers 🌺🙂🥂
@donnaallgaier-lamberti3933
Жыл бұрын
Yes, my friend co-signed on a new cart for her niece. She really gotten taken by that act when her niece stopped paying the loan fee. I LOVE living in our condo. Our condo fee is a reasonable $295.00 a month. We would spend much more than that to pay for law moving, leaf pick-up, snow removal and other maintenance. I ran a Pro's and cons of HOA's as part of my decision...MT LIST: 1) Yes, A HOA does cost money, but it also saves ME money, time and my precious/limited energy. 2) IF I was to add up all the fee’s I would likely have to pay a contractor and/or seasonal workers to handle the outside maintenance for a home it would probably cost me as much if not more than my $295.00 HOA fee. 3) WINTER: Cover snow plowing of driveway and shoveling walkways. Putting down salt/sand when icy. And dog safe driveway salt for walkways; DRIVEWAY: Resurface driveway as needed. ROOF: Repair or re-roof as needed. LAWN CARE: Cost of mower and tune-ups, gas and spark plugs, repairs. Fertilize, weed killer etc. TREES: Trim branches and fertilize trees. When tree branch falls into slider screens and rips it the condo board-pays to replace the screen. Cuts down ivy that is choking the tree’s along Ottawa Beach Rd. GARDEN: Mow lawn weekly. Edge beds in spring. Trim shrubs in fall. Planting annuals and bulbs. FALL LEAVES: Blow and pick up and haul away fall leaves and spring/summer branches that have fallen. BUILDING: Cost to scrape and paint every two years or to power wash siding. (And/or the initial cost to buy siding and put it on the building.) WINDOWS: HOA will replace all condo windows and sunporch sliders as needed. They will wash condo windows each spring. DECKS/WALKWAYS: Power wash decks prior to painting and power wash walkways every two years. WATER & SEWER: HOA pays all related fees. COMMON HALLWAY: Monthly hallway vacuuming, window washing of front door window areas. At some point they will pay for new carpet and wall coverings when needed. UPDATING SECURITY: The HOA updated the new door buzzer unit in 2020 and the key locks in 2021. OVERALL MANAGEMENT: HOA sources the companies/the workers, get quotes, re-negotiates when they want to increase costs, overseeing the workers, following up on any issues. Pays the bill/writes the check, GARAGE DOORS: Replace garage doors if they crack, break or wear out.
@flfl4871
2 жыл бұрын
I have to admit my home owns me. I live in an amazing area and I am scared I will regret selling it if I do.
@ThisIsOurRetirement
2 жыл бұрын
It might not be right for everyone, we too loved our house 🏡 when we were there but then thought in selling gave another family their turn to raise their children and for us to move on . Cheers 🍷🌻🍺
@msbeaverhausen7226
2 жыл бұрын
I love your videos! You always give sound advice to consider. I agree that, whether you are lending money or a book, lend it as though it is a gift as it is never guaranteed to be returned.
@ThisIsOurRetirement
2 жыл бұрын
Lovely comment and so true thanks for sharing enjoy your weekend Cheers 🍷🌻🍺
@captainblack5959
2 жыл бұрын
Always enjoy your broadcasts and generally agree with your wise counsel. However just a small story from me. A neighbour of mine with two young children and 5 grown up children all working was devastated when her husband walked out. After all the legal bits she agreed to take over the mortgage of the family home but as she is on a small salary was unable to obtain a mortgage without a guarantor. Her plan was to obtain a mortgage and all her working children would contribute. If she could not find a guarantor she would lose the family home and along with her two younger children have to move to rented accommodation much to her distress. There is no way I could see this happen and cause such distress to her family. I have agreed to be the guarantor (she did not ask me, I offered). Sometimes in life you just have to do the right thing. I have been retired three years, do a bit of voluntary work and my wife retired this summer after 40 years teaching. Life is great. Take care from a sunny Scotland
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing your story have a great weekend in Scotland 🏴 Cheers 🍷🌻🍺🙂
@just42tube
2 жыл бұрын
In some places there are available, what they call, reverse mortgages, which enable you to take out value of the home (real estate or condominium) you own without having to sell it. You kind of sell part of it . That money can be used to pay renovations, or anything else. Not available or good in all situations, but sometimes a good way to escape that what you called "the house owns you" situation.
@ThisIsOurRetirement
2 жыл бұрын
You are right we have those but many homeowners have this belief that they will leave their house to their kids. Reverse mortgage financing is very expensive. Sell your home invest the money and live rent free.
@just42tube
2 жыл бұрын
@@ThisIsOurRetirement But there are situations where the person is very old and very socially interconnected to people in her neighborhood. Especially those who have memory problems can suffer a lot if they have to leave their familiar surroundings. As they might not have many years left living more or less independently in their old home, it doesn't much matter if financing is somewhat expensive. The next likely place for them is a more intensive elderly house or home, where costs are much higher because having nurses 24/7 and other services is costly.
@Bigbuddyandblue
2 жыл бұрын
“Special Assessment” from the HOA. Brutal.
@ThisIsOurRetirement
2 жыл бұрын
Yes we have heard Mike it can as you say be brutal , one of the reasons we aren’t keen on Condos that’s why we rent Cheers 🍷🌻🍺
@eigobike3929
2 жыл бұрын
Condominium special assessments are somewhat predictable if you kick the tires (I.e. - examine the property’s condition and financial statement,ents).
@ThisIsOurRetirement
2 жыл бұрын
Not all condo problems are visible and some condo boards are either incompetent or over zealous.
@D_isco_D_ancer
2 жыл бұрын
Im not that close to retirement yet but I always find the info from this channel very interesting.
@ThisIsOurRetirement
2 жыл бұрын
Thanks so much
@BTom16
2 жыл бұрын
Its amazing to see how like minded you two are. My wife and I diverge on many subjects. I hope we can close ranks like you two have. Thank you for the inspiration.
@ThisIsOurRetirement
2 жыл бұрын
You are welcome Tom have a wonderful weekend Cheers 🍷🌻🍺
@mikedennington8856
2 жыл бұрын
may be a good idea for you to do a video on the Reverse Mortgage. I know someone who was going to lose her house until I said look at a reverse mortgage in Canada. There are pros and cons but in the end she went for it and it took a huge load off her mind. Making a will is crucial as well to avoid issues if one is not made, another video?
@ThisIsOurRetirement
2 жыл бұрын
Great idea Mike thanks for the suggestion, yes a will is so imprortant.
@bonniebrown1305
2 жыл бұрын
I would like to see this as well!
@nairmiller2658
2 жыл бұрын
Thank you, really enjoy watching your weekly videos. It is nice to be reminded of all the pitfalls that we have to navigate in our retirements, I thought it was going to be a great time to look forward to, but along came the pandemic and children seem to take so much longer to grow up these days. Your conversation reminds us that we are not alone in this life of constant dilemas. Stay safe and Cheers.
@ThisIsOurRetirement
2 жыл бұрын
Hi Nair We never stop being parents, yes the pandemic has taken a big bite out of our travel plans. Stay safe too.
@kristybowman8731
2 жыл бұрын
Excellent video! When you spoke of the condos it reminded me of when, in 2008 or 9, in the midst of the housing crisis, a friend of ours lived in a townhouse community (in the US). So many units in his HOA were in foreclosure. The HOA was not getting the usual amounts of monthly dues and therefore closed down the pool and fired the landscaping company. Meanwhile, the residents who were able to stay were expected to continue to pay the same amount but with greatly reduced services. Yikes!
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing your story Kristi have a wonderful week Cheers 🍷🌻🍺
@bearsandbutters
2 жыл бұрын
Hey Tina and Norm! Great to see this video today on money traps to avoid in retirement. It makes sense that you rent now as owning a home is crazy expensive with all the upkeep and overhead, especially if something major goes out, it could be thousands and thousands of dollars! After hearing what you guys said about kids and grandkids being expensive, we are just thankful that we don't have any LOL!! But it is true that people tend to go to the eldest member of the family if they need a loan or help in any way. Glad you guys have a trailer so if one of your kids needed to live there -- they could instead of at your house LOL!! Great video and love you guys to the moon! 💖🥰🌛
@ThisIsOurRetirement
2 жыл бұрын
Hi Bears and Butters hope you are both keeping well lovely to hear from you we are so glad we rent and don’t have stress and unexpected maintenance and expenses of owning a home 🏡. We are counting down the days till we can go to the trailer this week we are hopefully going to temps of 15° yippee!! Take Care and have a wonderful week Cheers 🍷🇺🇸🌻🇨🇦🍺🤗
@sylvial3815
Жыл бұрын
I subscribed to your channel just about a month ago. Thank you for your valuable information and wisdom. You two are such smart couple. As im just a few years away from retirement, im soaking up your episodes and learned some interesting info from you. Thank you. Oh, wish the US has rent control! Can you cover the topic of reverse mortgage pros and cons?
@ThisIsOurRetirement
Жыл бұрын
Thanks for watching our videos Sylvia we do appreciate your support. Some areas and cities in the U.S. do have rent control. Thanks for your video suggestion on reverse mortgages, have a nice weekend!
@sylvial3815
Жыл бұрын
@@ThisIsOurRetirement see what i mean, learned from you about rent control in some states. Will check into it. Cheers to you and Norm!
@ThisIsOurRetirement
Жыл бұрын
Happy Easter Sylvia 🍷🐣🙂
@MsLinda165
Жыл бұрын
You had me until the bit about paying the tab at the restaurant; I guess when kids see the trips I'm taking, Portugal, Spain, whatever...and balking at paying a restaurant bill, gosh, I don't know....I"m on the fence on that one. Or maybe the discussion can come up ahead of time. My kids are still paying off student loans. Ordering take out, maybe is a better solution?
@ThisIsOurRetirement
Жыл бұрын
Thanks for your comment sometimes it’s a hard decision Cheers 🌺🙂
@mashacamashaca877
2 жыл бұрын
Very good points. The one I’m going thru at the moment is the sale of my house. You’re absolutely right, a house can begin to own you as they get old. Very emotional to leave my home of 18 years but necessary in my case. Thanks for the video.
@ThisIsOurRetirement
2 жыл бұрын
We wish you well with selling your home Mashaca , and all the best for your future Cheers 🍷🌻🍺
@mashacamashaca877
2 жыл бұрын
@@ThisIsOurRetirement thank you and cheers back! 🥂🍷🍺
@ellymunslow436
2 жыл бұрын
You guys are ALWAYS dead on!!!!! Love it!!!!👏👌❤️
@ThisIsOurRetirement
2 жыл бұрын
Thanks Elly 💕🙏
@Winterbiker333
2 жыл бұрын
Thanks again you two! So much wisdom, things I never would have thought about! Thanks
@ThisIsOurRetirement
2 жыл бұрын
Our pleasure! enjoy your weekend Cheers 🍷🌻🍺
@anglesea2026
2 жыл бұрын
All of them.
@ThisIsOurRetirement
2 жыл бұрын
😀😀
@stellagirl4552
2 жыл бұрын
All very good points. Yikes on the restaurant scenario where they expect you to pay. Not looking forward to that one and fully expect it to happen!
@ThisIsOurRetirement
2 жыл бұрын
Best to be prepared have a wonderful weekend Cheers 🍷🌻🍺
@GoingGreenMom
2 жыл бұрын
Paying back loans to grandparents is definitely a family culture thing. My brother and I had to pay back stuff like phone bills and such with allowance and chores. I wound up splitting up with my kids Dad, and borrowed money from my Grandma to buy my trailer. I had a plan to pay it back and paid 5% interest. But I've got cousins that borrowed half as much, and years later it never did get paid back. Even paying it back in 2 months, there have been times over the years where it definitely lumped me in with disapproval from people because I hadn't had my ducks in a row to just get a loan.
@ThisIsOurRetirement
2 жыл бұрын
Thanks for sharing your story hope you have a wonderful weekend Cheers 🍷🍺🌻
@ATJHTRAVELS
2 жыл бұрын
Another great video and tips sledgehammered that like button stay safe awesome and blessed enjoyed and shared
@ThisIsOurRetirement
2 жыл бұрын
Thanks for the visit have a great weekend Cheers 🍷🇺🇸🌻🇨🇦🍺
@purecanadian7792
2 жыл бұрын
Very good video. Everything you have talked about has happened. I'm also finding some friends always giving me the pitty party of needing money. I have never gave them any because they got in debt and they can get out of it themselves
@ThisIsOurRetirement
2 жыл бұрын
Glad you enjoyed it good plan not to bail your friends out Cheers 🍷🌻🍺
@EssayonsFG
2 жыл бұрын
So many thoughtful points for everyone to consider.
@ThisIsOurRetirement
2 жыл бұрын
Thanks so much enjoy your weekend Cheers 🍷🌻🍺
@ricorodriguez3579
2 жыл бұрын
Never co-sign. NEVER, especially for family. You WILL be paying that loan yourself.
@ThisIsOurRetirement
2 жыл бұрын
That is probably very true thanks for sharing Cheers 🍷🌻🍺
@m_waaka
2 жыл бұрын
My partner and I have no kids and we will begin our Financially Independent Nomadic (FINs) journey in 2 months. I have never loaned to family or friends ever and I will continue to stay that way for however long I'm on this planet. And we will not be buying a property. It's Airbnb or rent all the way for us.
@ThisIsOurRetirement
2 жыл бұрын
Sounds like a great plan Maraina , we are glad we sold and love renting, we also like renting when we travel as lot more options have a great week Cheers 🌺🙂
@stevenhull5025
2 жыл бұрын
My advice is to retire as soon as you can afford to. My wife retired at 67 working in the medical field since she was 18. Since retirement (5 years ago) she has been seriously ill. As I type this she is resting at home following major surgery. Enjoy life NOW as you never know how your health will be next week, next month or next year.
@ThisIsOurRetirement
2 жыл бұрын
We are so sorry to hear this, thanks for sharing your story, we are sure it will help others, send our love to your wife.
@johnvsymons
2 жыл бұрын
Great advice(as usual). I appreciate and respect that you were able to discuss this in a calm, objective and rational way. You brought up some very important points, especially about dealing with financial assistance requests from relatives. Discussing such matters in an unemotional way is so important. Take care and have a great week. 👍🤗❤🙏🌎
@ThisIsOurRetirement
2 жыл бұрын
Thanks for your comment John glad you enjoyed it we appreciate your support hope you have a great day Cheers 🍷🌻🍺
@chiparooo
2 жыл бұрын
Lots of good things to think about. By the way, the lighting in your video looks very good, especially your hair light Tina. Thanks for sharing!
@ThisIsOurRetirement
2 жыл бұрын
Thanks so much we made a special investment in Tina’s hair light, thanks for noticing and thanks for watching the video. 👍
@nancyfritz7159
2 жыл бұрын
I also noticed Tina’s hair looked 👍
@ThisIsOurRetirement
2 жыл бұрын
Thanks Nancy I had also just visited my Italian Hairdresser 💇♀️ 🌺as well as Norms light .
@user-ch2lp9er6p
2 жыл бұрын
Great advice! Have a great weekend! 🍀
@ThisIsOurRetirement
2 жыл бұрын
Thanks! You too!
@Jfhelwig
2 жыл бұрын
You don't leave SS to your kids. Take it early to protect your investments.
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