I had to quit my job to care for my elderly parents 5 years ago. It has been very difficult financially, emotionally, mentally and physically. I live very frugally and have no debt. My social security is my only income so I have learned to stretch every penny. I do dream of the future when my situation will change. For now, my joy is walks with my trusted faithful companion, my dog. The beauty of nature is my comfort.
@susanmarie2231
Жыл бұрын
I understand the “dog and nature” comfort. Social Security is also my only form of passive income and living alone with my comparatively low expenses, even a small studio apartment requires I have another source of income so retirement is not an option. Best wishes to you.
@anneporter123
Жыл бұрын
@@susanmarie2231 Many of my retired friends take on small pet watching or house-sitting jobs. Also you can pick up school aged children and watch them till their parents get home.
@susanmarie2231
Жыл бұрын
@@anneporter123 I am a paid companion for seniors who are in early stage of dementia. I make a lot more money finding my own clients than I would working for a caregiving agency.
@tonydong13
Жыл бұрын
Money is not that important, espeically compared to your time with your parents
@vickivannoy9316
Жыл бұрын
Hello. I read your reply. My mother had been very ill the past year and I have been caring for her. I can relate to everything you are feeling. My mother just passed away December 13th, 2022. I miss her and it feels so empty without her. I, too, was under a lot of stress being mostly the primary caregiver and she was very ill. Just know your efforts are making a difference for your parents and one day, when they are no longer with you, you will have memories to cherish and the peace in your heart that you did right by them. Take care and stay strong.
@lindadorman2869
Жыл бұрын
Here's my list: 1. Pay off your debts. There’s no better feeling than waking up every day not owing anyone. 2. Create a new budget. Make a detailed spreadsheet of every expense and know where your money is going. 3. Set a new goal. Visualize what the next decade looks like and map out a plan with pictures. 4. Learn something new. Start a hobby, learn another language, take online classes. 5. Shed bad habits. Stop doing things that don’t bring joy or make your life better. 6. Declutter. Clean out your home and let others make use of items you no longer need. 7. Get in shape. Take a daily long walk, do stretching exercises or meditate to improve your body. 8. Update your wardrobe. Donate your old work clothes and invest in new casual pieces. 9. Get your affairs in order. Scan important documents and make sure someone you trust has a copy. 10. Volunteer. You may not be working anymore but you have a lot to give. Make an effort to teach or help someone else.
@cltinturkey
Жыл бұрын
Volunteering and helping others is good for your soul. You'll provide the help, meeting new people, and reap benefits from being helpful. Kindness is contagious and that's a virus worth spreading! There are opportunities for every possible interest. You can volunteer a little or a lot. Check your community (libraries, schools, parks, etc.) for options or contact a national organization to offer remote help from your location. To me time is more valuable than money. If you don't have the latter, share the former.
@susanmarie2231
Жыл бұрын
This is a great list. I have accomplished everything except I still have a car payment and I need to get my affairs in order on paper. Retirement is not an option as I cannot live on Social Security alone.
@AnnMitt
Жыл бұрын
Being debt free and living frugal is so important
@cursinmariacorreia1077
Жыл бұрын
For goodness sake make a valid will and make peace with your creator and adversaries.
@SM-pc7io
Жыл бұрын
@@susanmarie2231 I didn't think I could either as I will only get $1135 per month but after watching several videos like this, especially Josh at Heritage Wealth, I found a way I can pull it off. Its a lot of sacrifice now but will make the rest of my life so much easier. I have to be living in a property that is paid off and in great condition and since I want to keep driving forever, I have to have a car that is paid off and in great condition and I have to be debt free. Everything else is the barbell system (or the bucket system). And I do not get to have health insurance until I turn 65 so I have to be careful to stay healthy. I do simple things like use the handrails wherever I go, take the stairs instead of the elevator, drink lots of water, go to bed on time. Simple stuff. It's working.
@SCSC-qz7rr
Жыл бұрын
I’m planning to retire by early 2024, and what I started doing a few years ago preparing was, I bought a brand new car in 2018, which is now paid for, so I could have a good reliable car by retirement. I paid off all of my credit cards, but since decided to have dental work needed before retirement, which is very expensive in the US, but I decided to do it while I’m still working so I can pay it off by the time I retire. I’m trying to live as frugal as possible to save as much money as possible to move to a cheaper state. I did all of my traveling while I was younger, because I knew I made not be able as I got older. My plans once retired are do yoga, Pilates, go walking, bike riding, grow my own fruits, vegetables, herbs, have chickens if possible, etc. volunteer at a church and/or shelter for women and children. Live a simple life but enjoy every moment God gives me…🙏
@monicalee7722
Жыл бұрын
Sounds like my plan.
@carolspears8339
6 ай бұрын
I am 74 and work 12 hours a week for a lawyer (three half days). When I stopped working full time, I got rid of my credit cards and now save for what I purchase. Last summer, I brought a darling rescue dog to live with me - she even comes to work. I am learning calligraphy and take courses offered to seniors at the local university. My daughter and granddaughter live in the same city and I meet my granddaughter after school one afternoon a week. I have two serious health issues and take medication. I am content at this time of my life. Very much enjoying your videos.
@denacollins352
Жыл бұрын
Exercise, I worked in a nursing home as a nurse. Looking back I realized that the residents never got out of the wheelchairs. Get up, get strong and move. You won't need a old folks home if your active.
@stevegeek
Жыл бұрын
Very true. I have close family members who never looked after their health and they are paying the price now. I'm hoping to retire next year and make an effort to get up early and go for a short run every morning. It's not easy but it's worth it.
@doloresaquines
Жыл бұрын
Dena. You are absolutely right. It is vital to keep moving, not let the muscles deteriorate, not sit around.
@dianasanchez117
Жыл бұрын
Good tips. I plan to retire at 63 next year. I have no debts but I live in one of the most expensive city in the world. I can’t move to a cheaper city because I can’t drive. The city I live in has the best public transportation. So I guess will have to live as cheap as possible.😊
@laurawalker546
Жыл бұрын
Learn to drive and buy a second hand vehicle. Then you could move to somewhere, anywhere else that is cheaper and maybe even more congenial
@anneporter123
Жыл бұрын
Check out Ecuador or Mexico. Many KZitem videos about this. You can live there for about 6 months cheaply and Airbnb your place. Or just move around in the cheaper countries that have transportation.
@ericlee2931
Жыл бұрын
Just out curiosity, what is the city that has the best public transportation? If you move to a cheaper city, you could easily use ride share services such as Uber and Lift.
@tonycocchiara7445
Жыл бұрын
Work 3 days a week and use this money as treats and trips away also 3 days a week keeps your mind busy 🙃
@anneporter123
Жыл бұрын
@@tonycocchiara7445 Absolutely, activity keeps the brain chemicals at a normal level and you don't fall into depression. Everything in moderation. I do see the time flying by though. I guess when I was working, I was clocking every hour.
@blacknnatural
Жыл бұрын
New retiree (two weeks in). I agree with all points presented.
@rensaber7467
Жыл бұрын
Love your perspective! So grateful to be in this community. Your wisdom and ideas are inspiring and fabulous!
@jeannerolig6042
Жыл бұрын
This is such a meaningful topic, Margaret, and you have addressed these issues very well. Following the steps you outlined assures a person of a fulfilling and happy retirement, without fear of the future. Well done!
@masterlee4370
Жыл бұрын
I remember at age 19 driving by the social security office and smiling, saying to myself "It will be a long time before I have to deal with that" Well, I am not smiling anymore as I am now 64, still working at a job I love. Now I look at sites like this one to get ideas, advice in preparing for that final chapter in the book of life. You talk about medicare well "90 days from retirement" is an excellent site if someone wants to check it out. There is a lot to understand about medicare so I am glad it was on the list. I hit the like and subscribe button as I know how important it is for these platforms to have followers. My son is "The Cajun Ninja" and between You Tube and Facebook he has 1.2 million followers. It's something how when I was 19 I thought 50 was old. Thank you for the awesome video.
@Dhspat
Жыл бұрын
Great topic. Thanks. ☘️☘️☘️☘️☘️
@anniesshenanigans3815
Жыл бұрын
I paid off all debts.. I work part time. I just don't know what to do with the rest of my time.. some days I wake up and just don't want to get out of bed! Work was my life! I want to travel, but have the usual fears about traveling alone. My biggest goals were to payoff all the debt and save up a $$ goal so I could live without a job until SS if I had to. I didn't think about hobbies or "passions" or "purpose". I rode a motorcycle for years, gave that up because of the dangers. I used to hike, gave that up after falling and breaking both ankles. I crocheted, gave that up after surgery on my arm, same reason I gave up baking. I tried painting for awhile, but that is very expensive, takes up too much space and gave up on that one. I am just at a loss here... I guess I need to just get out there and do the traveling and face the fears.
@carolturner7419
Жыл бұрын
You are in transition mode and I feel for u. There are lots of group travelling that u go on where u can opt to share a room or get a single room,but travel together. My sister went and met a lovely man on it !? ‘Spice’ is one in UK. But u are travelling alone but with a group. Try one out. There are lots of social get togethers before n after. U have to feel the fear but do it anyway. U could also get volunteering, like in a food bank / school / charity shop etc, which can be only 1 day a week. U need to put yourself out there, feel gratitude for what u have and your world gets bigger and better. Wishing u luck with it all xx
@doloresaquines
Жыл бұрын
Annie. Travelling alone is wonderful. Have no fears. I often travel alone. No Big deal. Go for It! Btw I am from Europe.
@AnnMitt
Жыл бұрын
I "early retired" at 60 yrs old because I was pushed out of my job for being too old. So, I had no time to prepare.
@Jane5720
Жыл бұрын
I have been a caregiver for my daughter for 38 years and I’m going to have her go to a group home in a couple years and I will never ever be a caregiver again ever. I am divorced so that’s off the table and my mother is an assisted living and the only person I’m going to take care of is me🎉
@cjgrl59
Жыл бұрын
I enjoy these videos. Very encouraging!
@transitengineer
Жыл бұрын
Thank you, for this excellent guide of things to explore before you retire. Two new steps on your list for myself, were the first to do a trial run for a month to live off of my estimated lower retirement income. The second, which I had already done is look to modify your life insurance policies or if, no longer needed to sell them or cancel them which ever makes the most sense. Upon retirement next year at age 63, I will be saying good bye to my employer's group $800,000 Life Insurance policy. Also, I went from a personal owned older 15-year term policy of $500,000 that ended at age 60, to a new 20-year term policy until age 82 at $200,000 issued from another insurance company (smile...smile).
@anneporter123
Жыл бұрын
I planned to work for one more year taking care of other people's babies and retiring with a hobby of furniture refinishing. Now I'm headed for hip replacement surgery and the doctor says no heavy lifting, so no babies and no furniture. I guess I will just have to read and relax. We make plans and God laughs.
@annjean8709
Жыл бұрын
Absolutely.
@kimsnader8777
Жыл бұрын
You begin with the end in mind. It's challenging, but imagining those final weeks or years, and who is available to share it with you, helps you focus on where to invest your attention. Every gardener knows to sow more seeds and cull the strongest each season.
@kendrickconnor
Жыл бұрын
Hello Kim 👋 how are you doing today?
@susanmarie2231
Жыл бұрын
I started Social Security at age 66 and so glad I waited. Even so, retirement is not an option. Here in the USA, a long term care facility is out of reach for most people to pay out of pocket. They have to go through all their cash and sell the house to pay the bill. After all is gone, they will qualify for Medicaid and then go to a government subsidized long term care facility which is not pretty. There are ways around losing your house and nest egg but consult with a financial and estate planner.
@noreenn6976
Жыл бұрын
Sad that USA seniors have to exhaust all of their assets to live in a nursing home.
@randolphh8005
Жыл бұрын
You go to a nursing home to get well in which case Medicare pays for 100 days with a Supplemental, or you go to die in which case insurance won’t pay, but they can’t kick you out once you are there.
@susanmarie2231
Жыл бұрын
@@randolphh8005 Yes, Medicare pays for the first 100 days. My comment was about long-term care. If someone goes to a swanky high cost care facility and runs out of money, I don’t know exactly how that works. Do they have to be moved to a facility that accepts Medicaid? Not sure about that. Some people are in memory care for years with dementia. By the way, are you a man? If so, how did you get in this group?
@randolphh8005
Жыл бұрын
@@susanmarie2231 the video popped up as a suggestion on YT. Yes, I’m a male. I used to work in healthcare and LTC. There is some variation by state, but generally Medicaid eventually pays if people run out of money. What most don’t realize is that only a small minority actually uses LTC for any length of time. Memory care being the worst case scenario. The best tactic to use is to have your own home. A large portfolio helps but will get spent down. I find that seniors don’t end up homeless no matter what, so it isn’t something I would lose sleep over. (99% of the long term homeless have substance or severe mental health issues) Persons with severe dementia requiring high level care don’t know what is happening, and really don’t notice how nice a facility is as long as the place is safe and humane. Good luck
@johnhoin5565
Жыл бұрын
I'm going to move outside the USA. Check out Ecuador ? They have great healthcare , Expats live on SS there.
@catlady1171
Жыл бұрын
I will be "retiring" very soon, after working almost without interruption for the last 52 years. In planning my retirement I decided to continue my employment for 3 extra years from 66-69, while drawing my full Social Security Retirement- to boost up my nest egg. I have a whole list of things I have done to prepare for retirement- but that one is my number 1. The age for me to receive "full" Social Security Retirement is 66. If you wait to draw your full Social Security Retirement (66+ depending on year born) you can continue to work full time and draw the full SSR amount. Many people do not know this. (Just in general: REALLY crunch those numbers before you ever choose to take SSR early for any reason) Most people I have talked to do not know much about Social Security and yet it will be the only income and way to live for many, for possibly many years.
@evaclaudialeiner1255
Жыл бұрын
Thank you!You look great!
@e-spy
Жыл бұрын
it's true! Margaret is beautiful inside and out!
@kobecakes2660
Жыл бұрын
Financially we have planned for retirement. Downsized a few years early but close to retirement I had no plan for what I would do. I had considered working part time. One week after retiring my husband was put on a low sodium diet. That ended the quest for what to do in retirement. Cooking from scratch can take up to 4 hours a day, every day. You do have to find things to do outside of the house like playing bingo or volunteering. Somethings you can plan all you want but... Never did I consider cooking would be my second job.
@randolphh8005
Жыл бұрын
Bless you for your effort. There are ways to make this easier. Use a slow cooker and an Instapot for many of the meals. Always make enough for 2 meals and freeze the second meal or serve in 4-5 days. Also remember that low sodium doesn’t mean no sodium. So figure out how much is ok. As a rule processed foods are bad. But, many fresh foods that require minimum prep are low in sodium. Good luck
@denacollins352
Жыл бұрын
Teach the husband to cook.
@JohnJohn-wr1jo
Жыл бұрын
Kobe, no offense but I can't imagine how this dietary change could add any time to food preparation unless your already feeding a large extended family. Wife and I are basically doing the same diet. No prepared foods always fresh clean organic ingredients. Maybe a little more prep with the vegetables but 4 hours sounds crazy.
@kobecakes2660
Жыл бұрын
@@JohnJohn-wr1jo When I said 4 hours that includes pasteries. It includes making home made tomato sauce and BBQ sauces. The time includes baking, stove top cooking and a lot of cleanup. The time includes dividing left overs to freeze for work lunches. If you buy pasteries they all have a ton of salt but it doesn't sound like you eat some of what I prepare since you mention organic. My mother mentioned when she was a child (9 kids) grandma spent all day Sunday baking for the week. I'm learning since I now make large batches of some things, like tomato sauce and freeze some so this step is already prepared.
@doloresaquines
Жыл бұрын
@@JohnJohn-wr1jo YES, same with us. I do batch Cook every so often and Freeze portions.
@arobert2053
Жыл бұрын
Living within your means is great BUT testing a month misses high tiket items. You can save on food or fun for a month but then when you get old and need to restore windows that is high tiket for exemple.
@TheD548
8 ай бұрын
Is it possible to downsize? Rent is high, but still cheaper than owning.
@lindaripp5902
Жыл бұрын
Thanks
@RetrieverTrainingAlone
Жыл бұрын
Fixed income. When I retired at age 62 I limited our income so we qualified for Obamacare. That saved us $26,,000 in health insurance cost. until I reached age 65 and qualified for Medicare.
@TheD548
8 ай бұрын
Smart. I kinda did the same thing. Paying out of pocket. Living as frugal as I can. Everything is high now.
@Ann-tf2cu
Жыл бұрын
Travel to all Continents (only 1 left - Antarctica) however still haven’t seen many many countries.
@noreenn6976
Жыл бұрын
Hi Margaret, haven't watched in a while, good to see you. Looks like you are in a new apartment, hope all is well.
@sixtyandme
Жыл бұрын
Same apartment different backdrop ❤️🌺
@noreenn6976
Жыл бұрын
@@sixtyandme thanks for the update!
@yvonneschermerhorn866
Жыл бұрын
This seies of videos are intended for women over 60, but the information is just as applicable to men as well.
@sandyk13599
Жыл бұрын
Sorry to see all the spam investment comments
@sixtyandme
Жыл бұрын
It is annoying I agree but every day I review and block and ban them!
@e-spy
Жыл бұрын
@@sixtyandme It just means you are going places on youtube! congrats!
@hippiegirl5167
Жыл бұрын
I took retirement at 62 because I lost my job and my husband makes me pay the light and water bill and I needed money quick. I regret it because I only get half of what I could have .
@jmb-cm7mr
Жыл бұрын
Your husband makes you pay those bills? Since when do people split bills when your married? I have been married for 33 yrs all money goes into the bank and the bills are paid when they come in no splitting who pays what. That is a recipe for disaster in a marriage.
@queens6583
Жыл бұрын
Agreed! I know a few couples who do this and there is nothing but resentment and fights. I'm married 44 years and from day 1 we put both our paychecks the bank and pay all bills from there.
@hippiegirl5167
Жыл бұрын
But I lost my job and couldn’t pay my share of the bills .
@chalktalkwithshari4173
Жыл бұрын
Get a job AND a new husband. He sounds like a jerk.
@caroljordan4316
Жыл бұрын
Your husband should support you through the good and the bad and vice verse
@sixtyandme
Жыл бұрын
Do you have a list of things to do before you retire? Which ones have you already done? If you are retired, how did you prepare for retirement? Was there an important step you should have taken, but didn’t? Let's have a chat!
@e-spy
Жыл бұрын
5 years before my forced retirement I decided to think about what comes after. I have always been kind of hyper, so I knew sitting around wasn't a good thing for me. I learned things. I learned how to paint (turns out I am pretty good at it, and also sold quite a few when people see it!), I am a good gardener, so I learned how to design landscapes (a friend in a far away state (him Texas, me Minnesota, a big dif) asked for my help. I designed his yard, and his house sold in 10 minutes because of the front yard! he was really happy!), I learned how to design and build furniture (my kids have a full set each, including fireplace tv consoles, both different to fit their spaces), and a lot of people have asked me to build for them. Don't let anyone tell you that you can't do something because you are a woman. I only had a drill, a miter saw and a square. I can do remodeling including drywall (the electrician who put in the electric outlets for my basement tried to hire me), etc. I thought I was set! But I can't do any of those things now. So I recommend hoping for the best, but plan for the worst. The only thing I have left? I wrote a book for my kids when they wouldn't read. They, and all of my friends loved it (mystery story). My kids are now readers, so mission accomplished. Maybe I could do that if my covid brain doesn't get in the way. Covid made me retire three years before I was ready. So maybe not wait either! I am 59.
@josephj6521
Жыл бұрын
I’m a man in my mid 50s. Seeing as many videos like this helps me sort out what I need to do prior to retirement. I’m saving as much as I can now and I’m debt free too. I’m also dreaming of the hobbies I’d love to do. Cheers. 👍
@doloresaquines
Жыл бұрын
@@e-spy You are Young! Sixty is the New forty. Yes!
@e-spy
Жыл бұрын
@@doloresaquines if your health holds out, yes! definitely. Best laid plans and all that in my case. But it is okay. I think I've done all I can to help at this point. I'm okay with whatever now.
@e-spy
Жыл бұрын
@@josephj6521 have fun!!!
@uzeela
Жыл бұрын
♥😘
@paulawarwick1854
Жыл бұрын
You lot really beautiful todsy lovely hair and clothes x
@geraldclough2870
Жыл бұрын
All great. Something a non-stupid person starts to do in their 30's if not earlier.
Пікірлер: 104