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Rethinking Retirement: Advice to those thinking of retiring

ONCE AGAIN. >> IT'S TIME FOR RETHINKING RETIREMENT WITH MARVIN MITCHELL, FOUNDER AND PRESIDENT OF COMPLEX RETIREMENT SOLUTIONS. HAPPY HOLIDAYS TO YOU. HAPPY HOLIDAYS THE GREAT TIME OF YEAR. MANY OF OUR VIEWERS SPENDING MORE TIME WITH THEIR FAMILIES THINKING ABOUT THOSE MEMORIES AND AND WANTING TO SPEND MORE TIME AND WONDERING, WELL, MAYBE I NEED TO SPEND EVEN MORE TIME WITH MY FAMILY. THAT'S GOOD. THINKING ABOUT RETIREMENT. WHAT ADVICE WOULD YOU GIVE SOMEBODY ON MAKING THAT DECISION AT THE RIGHT TIME TO RETIRE >> YEAH, I MEAN, YOU'RE ABSOLUTELY RIGHT. I MEAN, WHEN YOU SPEND TIME WITH THE FAMILY, YOU START TO REALIZE, MAN, I WISH I HAD MORE THAT I WAS KIND OF LIKE WHAT HAPPENED WHEN PEOPLE WERE FORCED TO STAY HOME AND THEN IT WAS TIME TO GO BACK TO WORK. AND A LOT OF PEOPLE WAS LIKE A KIND OF LIKE STAYING HOME. SO A LOT OF PEOPLE LEAVE QUIT THEIR JOBS OR SOME PEOPLE BECAME ENTREPRENEURS. WELL, IT'S KIND OF THE SAME THING WITH RETIREMENT. SO I WOULD SAY BEFORE YOU DO SO WE WANT TO MAKE SURE THAT YOU DO WITH A PLAN.

NOW, ONE OF THINGS THAT YOU NEED TO DO IS THAT I WILL RECOMMEND YOU GET AN INCOME PLAN. THAT INCOME PLAN IS GOING TO HELP YOU WITH 3 AREAS. NUMBER ONE, WHEN YOU RETIRE, YOU WANT TO RETIRE? WITH COMFORT. OKAY. THAT MEANS YOU WANT TO KNOW. DID YOU CAN STAY RETIRE WITH DIGNITY AND NOT BE FORCED TO GO BACK TO WORK WHEN YOU REALLY DON'T WANT TO. WE ALSO WANT YOU TO BE CONFIDENT AND CONFIDENT COMES BY KEVIN CLARITY, CLARITY REALLY ONLY COMES BY HAVING A PLAN AND YOU ALSO WANT TO HAVE CONTROL OVER YOUR RETIREMENT, WHICH MEANS YOU DON'T NEED A DICTATOR. AS A FINANCIAL ADVISOR, YOU REALLY NEED SOMEBODY IS GOING TO TAKE ABOUT A HAND HEMP. YOU HAVE MAKE THOSE DECISIONS AND NOT FORCE ANYTHING UP ON YOU. SO FIRST THING I WOULD TELL US TO HAVE A GOOD PLAN, RIGHT? AND PART OF THAT PLAN INCLUDES HEALTH INSURANCE, WHICH IS SO CRITICAL IN RETIREMENT. MANY PEOPLE DON'T RETIRE BECAUSE THEY THINK THEY HAVE TO BECAUSE THEY HAVE TO PAY A LOT FOR HEALTH INSURANCE. FIRST OFF, THERE ARE WAYS TO MINIMIZE OR HEALTH INSURANCE.

IN FACT, WE HAVE AN ENTIRE DIVISION THAT HELPS YOU OUT WITH YOUR HEALTH CARE IN OUR COMPANY, MEDICARE, ALL OF THOSE THINGS, BUT ALSO PUT INTO PERSPECTIVE. LET'S SAY YOU HAVE A MILLION DOLLARS AND YOU HAVE ENOUGH TO RETIRE ON. YOU DON'T RETIRE BECAUSE OF HEALTH CARE. IF YOU DO THE MATH SAID ONLY COST YOU 27,000 OVER THE NEXT 5 YEARS. IS PAID $27,000 OUT OF A MILLION DOLLAR PORTFOLIO. KEEPING YOU FROM RETIRE AND SPEND TIME WITH THE FAMILY. SOMETIMES IT MAKES SENSE JUST TO PAY FOR IT RIGHT. YOUR TIME IS WORTH MUCH MORE THAN $20,000. THINK OF IT THAT WAY. SO DON'T LET THAT STOP YOU FROM RETIRE. AND IF YOU FEEL THAT IS THE RIGHT TIME TO RETIRE, RIGHT? AND YOU CAN GET MUCH MORE DETAILED INFORMATION FOR FREE OR FROM MARTIN'S BOOK. YEAH. MY BOOK RETIRE EARLY. THE 9 CRITICAL DECISIONS WILL RETIRE BEFORE 65 SOME OF THOSE THINGS. WHEN SHOULD I RETIRE? SHOULD I PAY OFF MY HOUSE? WHAT SHOULD I DO WITH MY 4 O ONE K SHOULD HAVE A STATE PLAN TO AVOID PROBATE.

ALL OF THOSE QUESTIONS ARE ANSWERED IN MY BOOK. RETIRE EARLY. DO YOURSELF AN EARLY EARLY HOLIDAY. GIVE YOURSELF A HOLIDAY GIFT AND GET THIS BOOK RETIRE EARLY TONIGHT, CRITICAL DECISIONS BY GOING TO RETHINK IN RETIREMENT DOT NET AND GET GET MORE THAN ONE. THEY'RE GOOD STOCKING STUFFERS GIVE THEM TO .

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60 Years Old and Nothing Saved for Retirement – Top 12 Recommendations

moshi journal of the war about version 5 and her dick or nothing save time and in this video i will give you my top 12 recommendations from to gather épisode and the phoneshop s line my name is lynn mines and today we're talking about how you so I you're getting only star junior with over fifty with that over fifty5 maybe you our die in your sixties and now I have little or no 10 series time it i'm going to give you 2 tbsp specifics you can your original is concern there's no de jorna loon and it's never too late many people a coaching time lady finance even in the situation where we have the timing so stupid now arjan yourself in the beginning inge you where you were young just can't get by make and smeet more history family of chipper tells us times is a medium and helps and must collins take the pan yourself fit the sun tremor sixty thumping when in more detail with your juice at lower netting seyfried time and of course start in early there is a storing late but you can make up Alaska hands and math eyeshadow in situations unique and what works for one person may not work for another for coastal regions with the Parisian this video is the ghibli some practical ideals and strategies to consider this there can make a very big difference to you in your goal detail majors number 2 tap in the toori of your situation and then for your timeline that you already have the passado de is how shampoo pure fifty five singlet hero that had ten years before your sexy woman and 14 use the force that you can campus aladdin 14 years old and earth 3 vai dealers bart herbed be focused in that can we have plans at in the greatest az is your building churn and income that have income or the ability to become i can there is your goals english is not about how much you earn is what you chi the mathers new be surprised with him the people with high income i am super icons the wrapper elearning c at the front you'll be surprised at how many people with barry but is it war incomes have surprising the size ball to the ponies alice ivory terms and they financial planner eyes i head in the spectrum and him force me to the moon and more the natural tennessee is to spend more the global fund yogis and there you have to use your browser necessary expansions we already bread igor inputs and leslie protest you the cancer your channel effectively protest with old plans in moscow color go recommendation numbers 3 is 10 million numbers in economies way glowing you don't want your card in flow and url flow the income and expenses the calving budget through budget is to work parking were many people feel like folding budget is even though he has the you a bit suggest that you change through you want a lot budget of this chickens the the learns that helps keep it simple in a simple traces this is t still a nice way going nb controlling nice way glowing knowing you manage there you have to do a major a bit of the beak you often in thatcher fray recommendation number for completing journey they spend in arnhem with commitment to check all here tension quarter idea for what of the next perfect and min truck every penny you can simple idea what the pc' pepper donor come together or if you like i can download spending a dead spreadsheet the week savior it is very simple harpel toe an excel spreadsheet designed with purpose it free download and there is a link in the description below then I had a garden but my deesje number five is nipping the bud back online now I have to have color that is a bucket of income Camille and wedges Gillingham someone who will be empowered to make some changes the girl with me for middle what would be like if you were able to all your income or in other words i had no expenses there already fine and zeros the snowfall wants is thing you sent with your kids and corn oil in best oil that can be put in there someone for the nex-5t and 14 hours how much of nfc can you use your kimeli i would be a significant amount of money you should just think brain recommendation number sex this is the great and pink outside the box' the monsieur with your personal story but wait after bad guys mother pork royce duns with the laitman i did not prevent from being married and wooden awww man by professor locking must contain you won't you make and slammed and my new be challenging to be white and were determined to face life's challenge is what have they may be together have us leather yes we quiet small the finish my schooling and and there was also a full-time mother in singapore my and who weatherman etc to buy pearls you have to nemaattori in which comics people's saving 1 hour marie are to us in possible this is where we share the great if my biggest expence was rather fmri buddy we start to think boys republic loses when we get older and someone moving in with parents with the waif into small children and this point was after the bible option borsato time but we were determined to find a way to fool cycles likes people's so had to oil brainstorming my wife the BBC note the cursor church ring and she love to visit and care for elderly people save him from when in the elderly people there or in arcen who live in her home alone but he brings the point where can I assisted living and promised him and walked into a system care provider call when this weekend find someone there would be okay in the care provider game with the nekberghe into small chill you should never have anyone doing anything like this before I decided to take two mothers, in theory it is not acres of course this was washable before the Joline and anyway Glenn in there in the classroom white section to local newspaper who were surprised to see paths have that and Kohl's of people looking for loving care providers for the Cairns region billion more than one will be a rapper who with the first internship family Michel Nabertherm and in the film about who was new in elderly managers nine who are here three scraper from the strip company such a process and are now immediately since i was a barry k instrument the absolutely chill me you guys inside toe story home is the goal john their upper room and board we persisted full basement where films in refrigeration all utilities and my life was able to the shopping there is through and provide the not the care and they also peter siks to that per month additional the green office for and minimal when in love for the us complete guangzhou and sultry amical him only two in my wife's arms my i'm so my work this experience was a more photos on tags mother able to dry cycles so ark spencer's and even inc research then you have when you have to set it forward denpa one has to have brother first even the meteo another creative at work story and couple in sixty one very little c free time by a thousand glasgow and well it is in can was do you want that sylla bolhuis entire career day a creative and create aggressive client to do love them to reduce turkish patches bonnie lies and that person first rebirth desolder iphone how the plants downsizing santing was expensive to measure in d axl in blood in a world order good working part-time radiation the joris school and taking care for two worlds to that archer and her beds sharing to the chances and providing their father and son for the stereo period in t league dark gray coach the little one helps immensely because of that is sure of pain patient care and newer etc and that person or drink or two you could this was a big boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh boy oh my dough is in the cell and the workbench is there through the gates the age of 16 5s am that arbitrary their the advertisement wiser the plague this was my social security designated the full of time 161 5 is the moment the camel is want medicare prepared the sweet this would be tender how they live single in long Canadian and seven d is the new sixty-five we want you longer and that as the you or your spouse winter nineties and pianists cisticola hi hi er de may be putting the ship live the life you might be cross minnie beebe wants nme people in their voice and i still working sam micro sd not the income else because they eat simple in joy working in samsung not uncommon for a person to retire political board and to go back to work dear cousin oil pt if you will italian the media kühtai er from the wine and findi control idea of ​​tai chi chuan sint in de us better no ikke star the site has a small business or Samsung of the media budget that was there in future episodes and the Easter shop s line the plan back track mini on the procedure is the you could consider hats another reason why am I would consider subscribing to this channel you have a recommendation number is called the lion styling socials curry benefit's je keyword longer you're able to the lego scribes sander this can increase the size of the features of three benefit's in a link boys what is your had longer and burning history the youtube app storify earth delivery here the to work can make a big difference if we now the reader jury benefit's beyond for him agree you also can earn the darcy types of life timing grads the size of your social benefits can be much a larger my what you do is that you do n't want to have the good social studies trying to better understand our social security de lions time and credit work and for a customized social studies strategy presses live for you and i can go to social security line thanks to humor committee recommendation number name is john try physical and mental half dat satin cherry lifestyle list you the soul and the soul we bring the youtube and ashoka's times in physically and mentally fit maybe the most pointing you can take your time and fill we new ipad you will have more energy you will and send your ability to work longer and to earn longer the benefits and exercise and the help of a church documentation number 10 is the haafidh 14 yourself a lot in your future the Muslim program 14 god gray and amazing things kabir kampen list aldo and meeviel roaming and even in possible that thing is a possible yo and more people and you think you're stronger than you think your mark reason that I think in your child your heart drinks you can overcome in a challenge to you for your mind 2l and Disclose of halloween there wilcox there is no chance no destiny no fact that a circular or nuisance or control the family room of that term a solo house inc your team live in Rijswijk and wayside DVD and you programmer penetrate from your bed show more you can series b there is 0 chads no destiny no fact that incident or hinder or control the cinema have that term and so recommendation eleven is the never stop learning the caribbean form and good books you have the number weather widget my bible on by george glitchen avatar der that along when we see 10 king bridge in the poll in very bizarre motivational a sparing angry am already you ca n't lean was bummed best be so a universe alone there a porn touch religions when comes to actually saving you fire a rat race for my kees with ketchup contributions and have all those videos the goal indeed that when CDA Lyceum in the most active Chile plausible and new of course will be wise in all-wheel of the people who left together the box that Redman in description below environments and 12 is the overflow you have a strategy Aramis Aegon reconversion mortgage it is a time rather in the morning that does not allow the needs to change the renewed hypes or rather in the morning the app more options and more flexibility in the queue the building fifty percent and King Johan and new loses a sixty-two that gate and in a purely morgens payments so I think there is a lot of humor morgens payments you may also be able to establish a tax free stream income the social media tyme come and get to the time in this video to go nobody yourself you can le morvan my book in chernaiev i only online those managers on the fences it is how a strategy cleo public gamechanger pio in your timing you have the toilet in my book while volumes on the books style the holistic time and prime revolution i can also just by the amazon search online a lame arm and your van de bin this is like rats link in the description below so you learn have my god of recommendations if you about fifty five and him just thing super terms definis par des video beneficial have the runs and oh please add a comment dumbell lo domino what sterile and actually to see your in the next episode or the financial pipelines [Music] [Applause] [Music] [Applause] [Music]

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What Retirement Income Puts You In The Top 1%

what income does it take to be in the top 1% of all retirees you'd think that'd be a relatively simple project to research turns out it wasn't so stick around and benefit from the work that I did to uncover these hardto find numbers let's go for a walk and and talk about it and you know the first thing I want to observe is that most of us probably would not recognize could not tell by the lifestyle folks that are in the top 10% of all Rey income when I get to the numbers I I think you'll you'll say okay I think I would be able to recognize people that are in the top 1% I'll give you a hint it's a it's a much bigger number than than I thought it was going to be okay and and so why is that you know why wouldn't we recognize uh the folks that are in the top 10% and it's because like a lot of things in life you know if you look at Millionaires and millionaires Lifestyles you know 70% of millionaires in America or self-made and and most of them most of us uh got there um by being you know uh uh careful with our money and and and being good Savers as as much as uh being fortunate and and receiving a a good salary along the way okay so I'm going to start off with what these numbers look like for all Americans and this is from a large data set they say it's the largest population data set uh in the world and the organization is called ipums and this is for all Americans not just retire so um to be in the top well first let's start off with median and and this is household this is household income the median household income uh in the United States for for everybody all ages is is $70,000 to be in the top 25% you've got to make about $130,000 000 to be in the top 10% you're making a little over $200,000 the household income a little over 200,000 it's 212,000 and to be in the top 1% you're making over $500,000 a year now um and the number is 570,000 what was interesting is each of those groups from um 2021 to 2022 so this is a data set uh that they released the results of at the end of 2022 each of those groups got a raise between 2021 and 2022 unfortunately from the median and Below on an inflation adjusted basis folks that are at the median below uh are actually making less on an inflation adjusted basis folks that are above the median are making more in 20122 and we've heard this play out in the press okay so so those are the income levels now now let's talk about savings and there's a really interesting point I want to I want to share with you here okay to be in the um to be in the top 1% of Savers in the United States this is the top 1% if you're between 65 and 69 75 and 79 or over 80 it's to be in the top 1% you've got to have $2.7 million in what's called net worth the net worth is just take all of your assets all of your savings accounts the value if you own a house the value of your house and subtract from it the the the debt that you have on that essentially so you just take all of your assets and you subtract all your liabilities your car loan your your mortgage your credit card debt hopefully you don't have too many of the latter too uh and that's your net worth so um if you have a net worth of $2.7 million a household net worth uh in the United States you're in the top 1% what I want to point out is you know if you look at the income boy that income is really staggering right I mean the top 1% of income is 570,000 or higher and you know some people will say well you know that number seemed a little low I was expecting that top 1% of income to be higher and I I agree but that's like the last person that made it into the top 1% so there's plenty of people in that category that are making a lot more money but think about this you know the the lowest income in the top 1% is almost $600,000 right it's $570,000 yet to be the top 1% in savings you just need $2.7 million or more um and what that tells me is you know as a society as a country it's no surprise we're not saving enough money and so um it's not enough to make a great salary you've got to be able to to save it but to me that was just staggering that you know essentially that top 1% you know if they were the Savers they essentially have saved um what five years worth of income uh and most of us could not retire if we had just saved five years worth of income right so that just shows just the the importance of living below your means and and saving as much as you can okay let's keep going now I'm going to Break It Out by desile and again this is household and this is according to the Congressional research service so the the lower quintile so there's five groups the lower 1 the lower 20% of Americans are making under $22,000 a year then the next group up from that are making you know between that 22,000 and 40,000 the next group up to that is is making between 40,000 and 65,000 um so you can see that you know 80% of Americans households are making less than $65,000 a year now I haven't got to retirement that's coming up here really soon um let me get to the top quintile the top quintile households in America are a little over $110,000 let's call it $111,000 okay so now let's get to what I finally was able to find out so I've shared a lot of information here and I think many of you are listening to this this uh these numbers and saying you know what I'm doing okay you know it's hard to get that high high salary but if you're saving and if if you're uh spending less than you earn if you're saving that and then importantly if you're investing that remember it's not enough to just save you have to invest it you have to get compounding working for you so a lot of you I think are looking at the at least the savings number and saying yeah we're doing okay we're doing okay and I hope you are I hope you are okay so now getting on to the uh uh the the top income in retirement uh and before I get there if you're enjoying this video take a quick second and hit the like button it really does help the algorithm uh find other people that this this video uh and my videos can help okay so um I'm going to break this out the top 10% the top 5% and the top 1% so people people 65 to 69 now this is people that are working and not working top 10% is 200,000 top 5% is$ 260,000 top 1% is essentially $1 million okay so that's 65 to 69 and now for people 70 to 74 numbers come down a little bit top 10% is $170,000 top 5% uh is $26 is that right yeah 265,000 and the last number is a million dollar so retirees to be in the top 1% of all people 65 and older you need to be making a million dollars a year just to put that in perspective that rule of 25 if that's what the uh if that's what the income is then they had they'd have to have $25 million in savings by the the rule of 4% I hope you found this video helpful if you did I know you're going to like this video up here that talks about average income for retirees in America and this video down here that talks about five reasons to retire as soon as you can thanks for watching bye-bye

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The Challenges of Retirement In Australia

Researchers found that the average Australian is planning to retire at the age of 65 and it is expected that over the period of the next 5 years there will be approximately 673,000 workers planning to retire. The income needed to cover living expenses for a couple is around approximately $70,000pa, while for a single person around $50,000pa. And for majority of retirees, Age Pension is either the main or a significant source of retirement income. As I explained in my last video, our government has been working on a superannuation system and explaining it to Australians over many, many years, that now superannuation has become a major source of our savings. For more details, please watch my last week’s video: “What can I do with my super in retirement?” If you watched that video, you might remember when I mentioned that now our government has established Retirement Income Review that is concentrating on the retirement phase of superannuation. And today I will continue the real issue we have in Australia, that is the challenges for the government and us all when it comes to planning our retirement with the view to ensure security of our income and prosperity over the years and also longevity of our savings that is becoming a real challenge for the government and for each person that retires.

My name is Katherine Isbrandt from About Retirement. I am Certified Financial Planner and your are watching About Retirement TV, the only channel that is fully designed to provide you with all the information you need to be well prepared for your upcoming retirement or to improve your retirement financially, if you are already there. Our government has recognised the need to work on the retirement or a pension part of superannuation system, as the number of people retiring is greater than the number of people entering new workforce. This by default will introduce a necessity to have a system where we personally use our savings, primarily from saved superannuation contributions for the purpose of providing income during our retirement, as the government can no longer support such a big number of retirees. And let’s be honest, some people who retire now, have accumulated quite a nest egg in their superannuation, hence they can become self sufficient or only partially supported by Age Pension, while the full Age Pension payments are limited to those that are below the Income and Assets means testing.

But there is another major problem, there are too many people retiring and needing advice, than the number of financial planners or advisers who can support them with professional advice. And now we are hitting a real dilemma that worries me a lot. The government is now forcing super funds’ trustees to provide a meaningful guidance to their superannuation fund’s members as to their retirement choices and how to set them up. The problem is that superannuation rules are very complex, and that complexity does not help. Super funds are just simply not equipped and they do not have staff that is knowledgeable enough to provide that meaningful advice. I can only see on daily basis when speaking with many new clients, what mistakes are being made by super fund staff, when providing advice in the area they have no knowledge or understanding, which exposes members to huge financial risk and risks with the regulator such as Tax office. Also much of the research has been done to understand the pattern of retirement in Australia, and there is not one pattern that will prove that a particular strategy or a specific course of action will work for most people when retiring.

Planning is one thing, but life is often different. The CoreData shows that in many cases it is a retrenchment, health issues or necessity to care for another person that are often the triggers for retirement decision, and very often it is much earlier retirement, which means less savings that maybe a person has been planning for. And this is just one of the examples, when a proper professional advice can assist a great deal. In Australia we generally have two types of superannuation funds: ATO regulated such as SMSF or Self Managed Superannuation Funds and APRA regulated, which are all other types of superannuation funds such as retail, corporate, or industry super funds. A research was done to see the difference between the behaviour of members of those two types of supers and the research found that only half of all APRA regulate fund members aged over 65 took advantage of the favourable rules within the superannuation system for their age. In comparison to 7 out or 8 members of SMSF. therefore we can safely say that majority of SMSF members take advantage of all financial, tax and superannuation benefits available to you.

So why there is such a vast difference? It is because the majority of SMSF member receive professional financial planning advice and more than 50% of APRA funds members don’t. Similarly, to the above, majority of SMSF members will utilise the benefits of Transition to Retirement strategy for example, available to qualifying members, while only a very small number of APRA regulated members take advantage of this strategy. If you do not know what I am talking about, or you would like a refresher on TTR, watch this video: “Can I access my super and continue working – TTR explained” You see, if you were working with a financial planner, your adviser would let you know when to start this strategy, would set it up for you and assist you to take advantage of all benefits out of this strategy, as there are different reasons why it might or may not be suitable for you.

Rules are identical, regardless of the fund you are in. It is a matter of understanding those rules and at what point they become beneficial for you. So as I mentioned before, advised clients will benefit from each strategy as they progress in life and in their superannuation savings cycle. Unadvised members of super funds must know that such a strategy is even available to them in the first place, not to mention, they would need to know how to go about setting it up correctly to their maximum advantage. So the financial outcomes between advised and un-advised clients is quite astonishing. And it is often not the market returns that bring the biggest benefit, but the appropriate strategy being applied, that can be completely different for each person. And if anyone is trying to explain to me that this is due to high cost, I would mostly disagree. I am not trying to say that financial planning advice in inexpensive, but it is the case of understanding the benefit that you can gain before you make a decision of affordability of such a service. So going back to my previous point, our government is trying desperately now to find the solution for the advisory system in Australia, forcing almost all super funds to take over the role and providing such services.

The strangest thing is that in general, super funds don’t want to do this, as such a service will require spendings to implement appropriate support, train their staff, and take on the legal responsibility of advice. The compliance regime is enormous, as I mention before in Australia superannuation system is relatively safe and reliable, however, superannuation in pension stage lacks variety of income and security of it as well as longevity. This is the reason, why my plans consist of mixture of different income streams, because there is not one product that can satisfy all the needs for retirement.

But even taking into consideration everything that I’ve just mention, did you know that Australia is in the top 10 countries when comparing the quality of life in retirement. As a matter of fact, Australia is number 7, behind Norway, Switzerland, Iceland, Ireland, Luxembourg and Netherlands And we are ahead of Germany, Denmark and New Zealand, which are the other countries in top 10. But going back to the research, it is suggested based on the data that the complexity of the superannuation system has created a division between “haves”, so members that receive ongoing service and advice, and have-nots” those that have not received any advice, which are primarily members of APRA-regulated funds. I do hope you found this video of interest and a little bit of food for thoughts. If you believe that you are ready to receive a proper financial planning advice, just book a meeting with me through my website AboutRetirement.com.au On each page of my website there is a button: BOOK A MEETING that will take you to my personal calendar, where you can choose the date and time that suits you and when we meet, we can discuss your investment and your retirement options.

While you are on my webiste, sign up to the NEWSLETTER to be kept updated with all the changes that can impact your retirement. And if you enjoyed this video, please give it THUMBS UP and SUBSCRIBE to my channel not to miss my next video. And now please continue watching those previously mentioned videos: “What can I do with my super in retirement?” and “Can I access my super and continue working – TTR explained” both videos are of great value and lots of important information to improve your financial planning knowledge. I will speak with you in my next video, bye for now.

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31 ways to improve Retirement Planning Part 2

Today's video is the continuation of our last week's discussion about ways to improve your retirement planning. Keep in mind that all those 
steps you can use at any point in your life   if you want to put in place some kind of financial plan. If for whatever reason you missed my last week's video part 1   of 31 ways to improve your 
retirement planning, please watch it right now,  maybe even before you commence this video and 
then please return right here to continue Part 2. This will be so much more logical for you.   My name is Katherine Isbrandt from About Retirement,
I am Certified Financial Planner, and you are watching About Retirement TV
just about the only place   that will provide you with honest and open ideas 
how to be well prepared for your retirement or  if you have already retired, how to improve 
your retirement income, assets, and lifestyle.

So last week we discussed, 15 ways to improve 
our retirement planning and today I want to share another 16 ideas that I have come up with. Obviously, there would be tons and tons more,
depending how detailed we want to become but I think this is a very good start for the new year   which I hope you are planning to make it as
one of the best years ever. 16. Be very sceptical of any investing advertised as tax schemes This is how many investors lost a lot of money over the years   Australians are very tax-driven and this 
is how politicians win the elections, they know what and how to promise to their voters. This is how many heavily advertised investment schemes were introduced over the years, where the only party making any profits were product providers with most investors never even checking 
if such schemes were even approved by ASIC   and ATO for specific tax ruling Fortunately, now there are less of those
schemes happening but   that's due to strict regulations that we currently 
have in Australia and a very watchful eye of ASIC.   But often even legitimate schemes might 
not necessarily be of any value for you.   If the main goal of the scheme is to reduce 
your tax with actually not providing you   when any return, either in a form of income, or 
capital growth, bottom line, is you are losing money   So always do your due diligence before you 
invest any of your savings into any of those tax driven schemes.

17. Understand Australian Superannuation tax and legal system This is a very big task and lots of information
to learn not to mention how to find the details that are exactly
applicable to your situation but if you can achieve this, you will be on your
way to utilise every single benefit legally and financially available to you. This is exactly the reason why wealthy families rely on a good professional advice and superb service   18. Include the cost of assisting your 
aging parents and helping your adult children in your budget and in your planning, this is what we call sandwich family.

Have you heard of the naming sandwich family yet? That mostly applies to people aged 50 plus,
but could be of any age really. A sandwich family is the one that 
on one hand needs to care for the elderly parents   while on the other are still looking after 
their teenage children or children that are;  adults but refuse to leave home to start their 
own life and rely on your financial assistance. My recommendation here is to find the best solution 
of care for your parents, there are lots of options   and some may not cost you all that much, but can 
be very beneficial for you and for your parents.   As far as your kids are concerned, of course, if you 
are happy for them to stay with you, do that , but treat them like adults. If they work, and they should, unless they're studying but even then a part-time work experience is really recommended  they should contribute their share to family expenses, to your bills, food, you can decide on 
their contribution value.   You are a parent, you will always be there for them, I am a mother, I would give anything to my son if there was a problem, but as I said they need to learn their independent 
life and you need to look after your needs as well.   19.

Don't withdraw from your retirement 
plan unless you really have to. Every single dollar withdrawn from your retirement plan as an extra above what you really need, will reduce longevity of your savings It is not only the actual value withdrawn, but also loss of all future income and capital growth that those funds could have earned over the years. So just to put it into context, if today, at the age of 60 for example, you withdraw $20,000 to buy a better car, because the one that you have although is it 
is in a good condition, well it bored you a little bit  and you need a change you have just depleted 
your future interest earned on that withdrawal by  $60,775 based on 7% compound interest return
over the period of 20 years   So bottom line is that 
should you kept that $20,000 in your pension fund, at the age of 80 you would have had additional 
$80,775 in your retirement fund. This amount of money can go a very long way 20. Plan for your long-term care   We have not been talking in detail about any 
expenses that you should consider in your old age,   when you might require additional medical or 
even personal assistance.

Whether it is provided at the Aged Care facility or at your home 
you cannot disregard those costs. If you need any assistance in this area, either for your 
parent, or for your partner check out my website article Aged Care Planning with Ease, but I will be 
devoting more time and more videos to this subject. and if the matter is urgent please just contact me 
immediately. 21. Rebalancing portfolio   This one strategy can assist your portfolio performance more than you could ever expect Rebalancing portfolio at the right time to its original asset allocation setup in your investment plan can be very financially rewarding. So you should implement doing this annually or when the opportune time of
market condition is presenting itself.

22. Check the performance of your investments
or your super at least annually I have been talking about 
this extensively in many of my videos.  Don't make rush decisions based on one year performance of your investment or your super or your pension fund. Even if that one year was disappointing. But annual checks are essential and if underperformance continues over a couple of years   then reassess if this is the right fund for you. Having said that, make sure that your expectations are met with the type of the portfolio, taking into account the investment risk.   And what I mean by that is if 
your portfolio has a conservative asset allocation   don't expect returns of a balance or growth fund 
or returns of the overall share portfolio   This is unfair comparison and you will end up being 
always very disappointed, So make sure you compare apples
with apples and not with oranges for more information watch my video 11 steps to check your superannuation statement. 23. Check fees and charges included
in your investment or your super.  Government has been on the hand for super and 
pension funds that have been overcharging members for their accounts for couple of years now for now, this new legislation applies to MySuper products so what we call default funds but that will be extended to
more superannuation products in coming years.

Please watch my video "Fees you pay in super" to have full clarity as to what type of fees most superannuation funds charge. 24. Review charges and cover for insurance in or outside of superannuation.  I have not really been discussing 
insurance in any great length on this channel   as this has never been requested but also as we 
progress in life the need for insurance reduces   But if you still have insurance you really need to understand the cover provided as opposed to the cover required cost payable as opposed to your affordability. If you require insurance should it be within super or outside? There are many things that need to be taken into consideration before you apply or cancel your insurance, so if insurance is what you need feel free to reach out so we can review what you have and what you need 25.

Have a realistic expectation for your retirement. Well what can I say unfortunately we love to believe in miracles   Well for example I cannot save today but I will make it out next year or the year after, well that never happens. or my money will last me 
forever because my super fund is the best  and has always been provided the best returns.
Well, good luck with this one. Nobody can predict  the market so please start being realistic with your calculations, with your budget that you set up  with the amount of money that you spend and 
how much you actually will need in the future   Once the money is gone it is gone and your 
retirement might take a completely different turn   26. Always include inflation in 
your retirement calculator   When using any calculators, please ensure that CPI (Consumer Price Index) is included.

This will ensure that whatever financial outcome the calculator gives you will be subject to inflation meaning a real value of money in the future. 27. Age Pension is a bonus, not certainty, don't rely on it, but do what you can to get the most out of it. This is my work’s bread and butter, on daily basis, I try to find ways how I can improve my clients Age Pension  Why? Well not because I want our government to pay for your lifestyle,   but because I know very well that this is a guaranteed portion of your income once you are eligible. The more you receive from 
the government the less of your own money you have to spend, hence you are protected with your savings for longer. But Age Pension should be a bonus, don't sacrifice all your savings, all your assets, just to get it It is still better to own and control your 
$2mil portfolio with no Age Pension then to give the 2mil to your kids just to
get Age Pension of $25K. That is just a ridiculous exchange in my book.  28.

Utilise every single benefit you can 
that is available to you from the government   There are many ways how you can benefit from our 
government's policies.  strategies that can reduce your tax, boost your superannuation savings, and support you financially for longer.  Watch my video "Improve your super and reduce tax" as well as "End of Financial Year Zero Risk 50% Return" Easy strategies and yet, so many don't do it.   29. Understand the importance of Estate Planning this is another area that is a huge topic to discuss, I have only scratched the surface with couple of videos  but they're still worth watching.

"Wills, are they really necessary?" and
"Super Death Nomination gone terribly wrong".  The second video will tell you exactly why Estate 
Planning is so very important but obviously, it is  not limited to creating a Will or providing Death
Benefit nomination to your superannuation trustee   The more complicated your life has been, the more 
you should pay attention to estate planning and employ specialists to assist you, if you wish your 
assets to be distributed to right beneficiaries in the right way.

30. Do not forget about Aged Care costs
in your retirement planning   I have mentioned Age Care before. We tend to live longer and longer, medical progress keeps us alive for much longer than we might anticipate. But what if you run out of money? What if you need to use services of Age Care facility but you don't have any savings to pay 
for it. This is a big drama for many,   this is why I stress greatly to save aggressively before you retire and spend modestly once you no longer
have a job related income There are many ways to 
assist you in reducing ongoing Aged Care fees,   so if this is your problem, please contact me,
but the fact remains that you do need to include Aged Care expenses
in your planning as well.

31. Always, always work with professionals – accountant, lawyer, financial planner, mortgage broker. Google is just not enough This has always been my motto, I save where I can on things that don't matter or are all of less importance. But I never try to cut down on expenses on any professional service that I need. Good advice, service and support are blessing. Not only you will have things done correctly from 
day one, so no fixing, updating, explaining.   It will be done for your best benefit. There is no trial
and error situation. A good financial planner will  help you to improve your income, capital growth, avoid costly mistakes improve asset security, peace of mind, very often can help you to have access to government benefits that otherwise, you may not be able to access.

So always use the best professional that really has your best interest in heart. So voila! This is the list of
31 ways to improve your retirement planning   As I said before this list could be extended 
to many many more points but some of them I have already discussed in my previous videos, hence the links and others we will discuss in more details in the future.  If there is a topic that you believe is really important and somehow i missed it.

Please let me know in the comments below the video, I would really love to hear your opinion and ideas on that topic as well So please don't be shy and let's have an open conversation.  Many people watching this channel are very 
likely in a similar situation to yours   So by answering your question this might help 
another person as well If you enjoy this video, please like it, share it,
and subscribe to my channel. So you know when my next video is arriving If you want to find more information just jump on my website AboutRetirement.com.au where you can find all my video,  lots of articles all related to the issue of retirement, investing,
Age Pension, Aged Care and lots more And now as usual, please continue watching those informative videos   Fist recommendation is previously mentioned  "Improve your super and reduce tax" to know how to benefit from those government provided strategies for super.

The second recommendation are videos about estate planning: "Wills, are they really necessary?" and the answer of course is: yes but listen to the reasons why. I will be speaking with you in the next video, see you soon. .

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Why This Investment System Can Help Retirees Worry Less About Their Retirement Plan

I want to share an investment system for retirees to hopefully assist you as you're thinking about and planning for your retirement we're also going to look at how to prepare your retirement for the multiple potential potential economic Seasons that we may be headed into so we want to look at the multiple seasons and then the Easy System that's going to help lower taxes and then lower risk as well now if I haven't met you yet I'm Dave zoller and we help people plan for and Implement these retirement strategies really for a select number of people at streamline Financial that's our retirement planning firm but because we can't help everyone we want to share this with you as well so if you like retirement specific videos about one per week be sure to subscribe so in order to create a proper investment plan in system we want to make sure that we build out the retirement income plan first because without the income plan it's much harder to design the right investment strategy it's kind of like without the income plan it's like you're guessing at well 60 40 portfolio sounds good or you know May maybe this amount in the conservative bucket sounds reasonable you already know and and you feel that as you get close to retirement that goal of just more money isn't the the end-all goal that we should really be aiming for for retirement it's more about sustainability and certainty and then really the certainty of income and possibly less risk than before the last 30 years uh the things that you did to be successful with the financial side are going to look different than the next 20 or 30 years now if you need help defining the the income plan a little bit then look at the DIY retirement course below this video now once you do Define your goals for retirement and then the income needed to achieve those goals then creating the investment system becomes a lot easier and within the investment plan we really know that we can only control three things in all three things we actually want to minimize through this investment system the first thing we can minimize or reduce is how much tax you pay when investing we had a a client who was not a client of streamline Financial but of a tax firm coming to the the CPA firm in March to pick up his tax return and he was completely surprised that he had sixty thousand dollars of extra income on his tax return that he had to pay tax on right away before April 15th and it was due to the capital gains being recognized and other distributions within his investment account and he said but I didn't sell anything and the account didn't even go up that much last year and I got to pay tax on it but he was already in the highest tax bracket paying about close to 37 percent on short-term capital gains and dividends and interest so that was an unpleasant surprise and we see it happen more often than it should but this can really be avoided and here's two ways we can control tax so that we don't have to have that happen and really just control tax and pay less of it is the goal and I'll keep this at a high level but it'll get the the point across number one is the kinds of Investments that you own some are maybe funds or ETFs or individual uh equities or things like that the funds and ETFs they could pass on capital gains and and distributions to you each year without you even doing anything without you selling or or buying but it happens within the fund a lot of times now we would use funds and ETFs that are considered tax efficient so that our clients they can decide when to recognize gains rather than letting the fund company decide now the second way is by using a strategy that's called tlh each year there's many many fluctuations or big fluctuations that happen in an investment account and the strategy that we call tlh that allows our clients that's tax loss harvesting it allows them to sell an investment that may be down for part of the year and then move it into a very similar investment right away so that the investment strategy stays the same and they can actually take a write-off on that loss on their taxes that year now there's some rules around this again we're going high level but it offsets uh you know for that one client who are not a client but who had the big sixty thousand dollars of income he could have been offsetting those capital gains by doing tlh or tax loss harvesting that strategy has really saved hundreds and thousands of of dollars for clients over a period of years so on to the next thing that we can control in our investment plan and that's cost this one's easier but many advisors they don't do it because it ends up paying them less now since we're certified financial planner professionals we do follow the fiduciary standard and we're obligated to do what's best for our clients so tell me this if you had two Investments and they had the exact same strategy the same Returns the same risk and the same tax efficiency would you rather want the one that costs 0.05 percent per year or the one that costs 12 times more at point six percent well I know that answer is obvious and we'd go with a lower cost funds if it was all the same low-cost funds and ETFs that's how we can really help reduce the cost or that's how you can help reduce the cost in your investment plan because every basis point or part of a percentage that's saved in cost it's added to your return each year and this adds up to a lot over time now the last thing that we want to minimize and control is risk and we already talked about the flaws of investing solely based on on risk tolerance and when it comes to risk a lot of people think that term risk tolerance you know how much risk can we on a scale of one to ten where are we on the the risk factor but there's another way to look at risk in your investment strategy and like King Solomon we believe that there's a season for everything or like the if it was the bird song There's a season for everything and we also believe that there's four different seasons in investing and depending on what season we're in some Investments perform better than others and the Four Seasons are pull it up right now it's higher than expected inflation which we might be feeling but there's also a season that can be lower than expected or deflation and then there's higher than expected economic growth or lower than expected economic growth and the goal is reduce the risk in investing by making sure that we're prepared for each and every one of those potential Seasons because there are individual asset classes that tend to do well during each one of those seasons and we don't know nobody knows what's really going to happen you know people would would speculate and say oh it's going to be this or this or whatever might happen but we don't know for sure that's why we want to make sure we just have the asset classes in the right spots so that the income plan doesn't get impacted so the investment system combined with the income system clients don't have to worry about the movements in the market because they know they've got enough to weather any potential season I hope this has been helpful for you so far as you're thinking about your retirement if it was please subscribe or like this video so that hopefully other people can be helped as well and then I'll see you in the next one take care thank you

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Retirement Speech: Insanely Easy 3 Step Structure

whether we have to prepare for it or if you have to improvise there's a very simple framework that we can follow when it comes to delivering a retirement speech let's get into it hey my name is radeep and i love learning about effective communications and sharing those learnings with you so that you can level up your communications game as well okay now the framework we're going to talk about very very simple the past present and future that's it we start by talking about when we first met them we felt at that time we then move on to talking about how that journey has been so far and what we feel about them now and then we move on to saying what we wish for them in the future that's it an example would flow something like this i remember the first project i worked with you on when you first joined to be honest we didn't get along very much in those early days but as we worked more closely i got to know you more not just as a colleague but as a friend and from not wanting to work with you from that first project to looking forward to having you on every project the only thing i'm going to miss more than your work ethic is your wacky sense of humor i remember you telling me how you always wanted to travel every country in the world now i hope you get to achieve that and take another great adventure off from your bucket list that's it whether we have to prepare or improvise this framework can work in almost any situation and if you want to be a little more interesting we can make this format a little unique for example we can get a few colleagues together and create a fun skit for that person or we can create some sort of video to showcase the memories or the journey that that person has had and that's about it a very quick and short way to help you give a damn speech and if you want an in-depth explanation along with a much longer sample speech we've written an entire article on this which is linked below and go check it out on franticallyspeaking.com and if you're somebody who's very nervous about speaking in front of people and want some advice on calming those knows you can check out this video right here

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Retirement Goals: How Specific Do You Want Them?

Do you have specific retirement goals, or does the idea of making a list of goals make you a little bit uneasy? You've probably heard that you can't accomplish anything unless you make a goal to accomplish it, and one of the biggest milestones in your life might be when you can stop working for pay, but I'd like to challenge the traditional view of goal setting and say that it might be okay if you don't have a laundry list of ideas on what you're going to do with your time in retirement, and this has a profound impact on how you design your life and the direction you head for retirement, so if we think about your first 20 years in retirement, those might be the most active years when you're able to do the most…

Those could consist of 7300 days or more than that, if you have good health. And so the question is, what will you do with that time? Now, we certainly want to have some ideas so that you hit the ground running and you're not just retiring from work, but if you think about the things that you enjoy most, like Maybe that's sitting on the beach and reading the book, is that something that you really want to do that many times, or perhaps, do we want to make sure that you have the resources to have some options and perhaps go through different chapters in retirement? Not knowing exactly what you'll do with every day is okay, because it can cause you to delay your planning if you work too hard on figuring out exactly what you're going to do with your time, so if we just make some intelligent guesses about how you're going to spend your time, think about taxes and inflation and healthcare costs and factor all of that in…

For most clients, I think that's a decent way to get started on your retirement planning, this line of thinking is backed by the so called "End of History Illusion," and that explains just how bad we are at predicting who our future selves will be. So predicting the future is always hard, we know that as investors, but it's also hard to predict what our personality traits and our values and our preferences might look like, let's say 10 years ahead of time, if those things change, then the way you want to spend your time and your resources could very well also change, so one way to think about this is to look back 10 years and saying, What was most important to you at that time? What did you like, what types of music…

Food, people to hang out with, all of those sorts of things? And has that changed over the last 10 years? And it might have changed for a variety of reasons, but the fact is that it probably did change in ways that you couldn't have anticipated 10 years ago, and that could very well continue. Now, it is true, and this is based on the research, that the older we get, the less those changes might be, they might be less severe, but the fact is we are likely to still experience some changes, in fact, as you get into a retirement or a financial independence stage of life, you can experience a lot of change, you might not have financial struggles, which gives you a different perspective on life, you might have kids that are out of the house, if you had kids, or grandkids entering the picture, that sort of thing can certainly change your view of the world. So a lot of change can still happen later in life, and sometimes to a surprising degree, a major consequence of the end of history illusion is that we tend to double down on our current version of ourself, so that can be good if you're very clear on what you like, but again, it's hard to predict, and so you might end up sending yourself down a path or pigeon holing certain aspects of your life, you might miss out on other rich experiences in life that you currently aren't really even aware of, so a cliche for retirement is that you're going to play golf every day or something like that, and of course, 7300 days in your first 20 years, that could potentially get old, and that applies to pretty much anything else, I don't play golf, but whatever it is you might enjoy doing today…

Let's think about how you might possibly evolve, and plus our bodies might change in ways that we aren't doing the exact same things in the future. I want to encourage you to explore the possibility of having some loosely held retirement goals or possibly no retirement goals at all, and not very specific, of course, we want you to be financially independent, and that probably means not working forever, so there are certainly some directions we want to head in, but as far as nailing down a list of things, maybe we can be a bit slower and gentler in terms of trying to name exactly what retirement is going to look like for us.

So let's look at how some other people have talked about this problem, Carl Richards used to do the sketches on the napkins for The New York Times, he's a former financial advisor, and he talks about this a lot, and it's kind of consistent with what my experience is with clients where you might ask people, What are your goals in retirement, what do you want to do, and sometimes they just don't really know, they know that they don't want to work forever, they have a decent idea of what level of income might make them comfortable, but they're not really sure how to answer the question, and Carl would point out that at that point, sometimes people just say what they think they should say, so they say, I want to be free to do whatever I want, when I want. Or they might say, I want to travel, that's what people want to do in retirement, right? Or they might say they want to spend time with loved ones, and there's nothing wrong with any of those goals, those are all great, but we want to be specific about what exactly they mean so what is travel? What does it mean to spend time with loved ones and why couldn't that happen right now, what are the specific differences that would make it a reality? And once you start doing that, it can feel like you're starting to force things.

Sometimes. I've also heard Carl refer to Pema Chodron's excellent book, When Things Fall Apart multiple times, and the gist of that book is that the ground is constantly shifting beneath us, and it's really hard to predict with any certainty what's going to happen, and grasping for certainty can be a recipe for suffering, so if we can acknowledge that we have some preferences and some directions to head in, but if things don't work out exactly that way, that's exactly what we should expect out of life, so that's a pretty big over simplification. And I'm not sure the book even contains the word goals, but it's a pretty quick read and you can check it out if you haven't seen it before, there's also a lot of information out there about not having goals and some of the benefits of that, and some of the pitfalls of making goals, and you can search online for how that might apply to you because it can be situation or person specific, but the important thing to remember is that not having goals doesn't mean that you don't do anything.

It doesn't mean that you don't have any desires or that you can't make your life for the world better, it just means that you haven't written down specific goals that you're going to try to pursue… By the way, I'm Justin Pritchard and I help people plan for retirement and invest for the future, so I'm going to have some links to some of the things we look at here today down in the description, as well as some general retirement planning information. This is more of the nuts and bolts in terms of figuring out taxes and Social Security and spending and income and that sort of thing, there will be some good resources for that, and I think you'll find that very helpful. By the way, if you are finding this interesting, please leave a quick thumbs up. That's a signal to me to keep talking about these types of topics. I will also link to an article by Maggie Zhou, which discusses anti goals, and this is the idea of maybe figuring out what you don't want in your life anymore instead of all of the things you do when it comes to retirement planning.

Those might be things like, I never want to drive in rush hour again, or I don't want to ever feel stressed about what medical bills I'm going to pay, I want to make it really easy to spend time with my loved ones, whether that's making it affordable or not, having to go through too many airports or whatever the case may be, by eliminating the things that don't necessarily add to your life, you may be able to leave a room for the things that do add to your life. However, we don't want to forget that End of History illusion, so if you are thinking, These are things I really don't want in my life, it may be the case that later in life you would tolerate them and really enjoy them, they might add to your life, so by ruling things out entirely that could potentially come back to haunt you, we just want to be careful about predicting exactly who we will be, what we want, what we prefer, what we value in the future.

All that said, we probably do want to have some vision for how you're going to enjoy yourself in retirement, there are some studies to suggest that leaving work can potentially lead to some mental and physical health declines, but there's no guarantee that will happen to you, that said, there are some significant changes that happen when you stop working, so you lose the structure of going to work, the schedule, sometimes that can be helpful, you might lose the identity of being a whatever it is you used to do for work, for some people that's valuable, you might lose a lot of social interaction.

So the time you spent talking to co workers, colleagues, customers, etcetera, that can possibly cause you to have a lot less social interaction, which can be problematic, even physical activity for office workers, even there may be a lot less… Just walking back and forth, up and down the stairs. Your walk after lunch with a co worker, that sort of thing goes away and you risk having some physical health impact, ultimately you end up with fewer required challenges that might keep your mind sharp as you have to overcome different challenges at work, and you also lose the accolades or the recognition that you might have grown to appreciate over the years, maybe you value that, maybe you don't, in general, ultimately you can lose some sense of purpose as you stop working, and for many people, I know, they're going to say, my work is not my purpose, and that's great, but for some people, it has a surprising place in your psyche, so just keep that in mind.

The good news is that you can offset those effects, so whether you're taking classes or volunteering or working on different projects or something else, you can really offset those mental and physical effects of stopping work, so I know of a woman who coordinates volunteer opportunities for retirees, and the way she explains it is this helps them to get out of the house and maybe stop thinking about their health issues, these are ways to keep them engaged, and it might not even feel like work for them, they're doing things for non profits where they just need to have a responsible adult keeping an eye on things, that type of thing, and it really is good for everybody, it's good for the community, and it's good for the individual.

So please make sure that whatever it is, you have a way to have that purpose in your life. And so if you want to set some goals that's fantastic, just hold them with a loose hand knowing that things might evolve, and if you don't have a lot of specific goals, that could be Okay. So I hope you found this helpful. If you did, please leave a quick thumbs up, thank you and take care..

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Rethink Traditional Retirement: Our Top Tips For A Happier Retirement!

retirement actually killed my father his retirement lasted 15 years and his decline was like him jumping off a cliff now jod and I have spent the past 5 years doing the complete opposite we call it climbing a mountain it's the complete opposite of what my dad did and we want to share with you today some of the things you can do to have the same outcome that we have you know the past 5 years have really been miraculous for us and today we're going to share with you the holy Grail of a successful retirement our Holy Grail Y and you know what I think this is going to be our new thing might we might even Rebrand the channel the Holy Grail of retirement I'm pretty sure Holy Grail is probably already trademarked okay well we all make daily choices about how we want to spend our time right every day Jody and I do the same thing is it watching TV all day and being sedentary which could be okay which can be okay I actually did that on Saturday cuz I was having one of those days or is it thriving and growing and getting healthier so that we live different from the way my dad did for sure you know today we want you to listen and take a few notes and think of your life and what you want to do for the rest of the time you're here and Alive you need to think about this because this is really your final Act I turned 76 whoa 67 wo I flipped it 67 yesterday y 13 more years years I'm 80 right you know 23 years I'm 100 90 but I will tell you our kids age 39 and younger and their significant others said you're making 67 look easier than 39 well thank you for I liked that that was a good compliment it was a great compliment but here's the thing at 67 or whatever age you are how do you want to be remembered what impact are you going to make on your family and your community on the world what is going to be your legacy and you know we hear all the time things but yeah you know here they go again up on their Soap Box preaching the Good Life and you know what you bet we are or as our neighbors from Minnesota say you beta um you know we're dead serious about changing the way everyone approaches retirement or at least influencing it that I don't know if we can actually change it but we could influence it it's so much mindset and habits and routines and everything else that we talk about but really want to take all your doubts about retirement and put it aside and stay with us today as we share our seven key strategies that we've perfected for our retirement and if you're new here I'm Mark and this is my wife Jody and we don't focus on the financial aspects of retirement but rather your lifestyle your health your relationships and more so please hit the Subscribe button but more importantly if you're finding that this video is helping you share it with with other people that you love and care about that are on the same Journey that you are absolutely so last week jod and I were playing golf and we haven't played much this winter but we well I have you I mean together yeah together we haven't played you've been deep in the business in the book and everything else and now they've got a lot more free time so now we're spending more time playing golf but what I noticed last week was that I was completely in the moment and it wasn't like that during my career in my career I'm always thinking about the next thing the next project what do I have to do this afternoon what I have to do in 10 minutes what emails do I have to answer you know and I'm thinking weeks months and years ahead and it was just stressful right but now in retirement when we've been able to slow down a little bit and pause I'm finding myself that I'm in the moment all the time and that is so much different than it used to be and it can really help your golf game because you know all you need to think about right now is your next shot you don't need to you know start solving problems for later in the day the week the month or the year right but we've had to work at that right and the Seven strategies we're going to share today have allowed us to get to the point after being in retirement for five years it's taken a long time for us to get here it really has and the thing is we're trying to give you our secrets of success and what we hear from our clients and the comments we get on the YouTube channel so you know we're coaching in each other all the time on this and coaching others so I you know I just want you to pay attention today because you know I think back on my dad and the decisions that he made that ruined his retirement and we're not going to do that yeah my dad made so many bad decisions before retirement that he never really he never made it to retirement because of his lifestyle choices now part of retirement is having a good relationship with your partner wife husband whatever it is so there's a link below to to one of our free downloads the relationship toolkit that you can use with a husband or wife or a close friend or even a colleague really any significant relationship in your life you could use this toolkit for so download it and check it out all right so here are our Holy Grail of retirement strategies trademarked can we trademark them I don't think so n too bad all right the first thing the first thing you have to get right is your finances you need good financial management and Wellness within there how much money do you have how much money is coming in how much money is going out they seem like basic questions and a lot of people even people with enough money don't think they have enough money right when they retire so having you need to get some help in this area yeah absolutely and you know this is a good time to also mention and maybe we should link it below the new retirement platform that um that we have a partnership with and and it just is an easy planning tool for you to use to run scenarios in it's a dashboard that ties all your financial information together I honestly I forget what it cost $100 a year 150 I think something it's free for I don't know two weeks you could try it it's a great tool but really having a good idea on how much you have and there's all these scenarios everybody can run but realizing that you can control some things like you can decide that you know what this house even though it's paid off it's bigger right it's you know it's 5,000 square ft it's got four bedrooms we don't need four bedrooms even though it's paid off you have to heat it or cool it you have to paint it and take care of it put a new roof on it all that stuff costs a lot of money it does so things like downsizing going from two houses to one or a big house to a smaller house or even moving from the house concept to a condo Co-op you know apartment you know those are things to think about that really help in your financial planning and then once you get your plan what's coming in what's going out you know where are your expenses key expenses for the month and develop a plan and stick to it you know how often do you want to go out to dinner how many family vacations do you want you know what type of housing do you need I mean that's really what we're talking about with getting the basics for your financial plan number one right and if you get this right you're going to have Financial Independence all right now the second part of this is you know thinking to yourself you know does part-time work or Consulting maybe fit into your retirement plan you know you know for us this this uh YouTube channel and our business retirement transform gives us fulfillment it fills part of our day we know that we're serving others we're building a channel we're trying to learn new skills as we go sometimes we're climbing a mountain of learning that's for sure with YouTube and you know some of the social media platforms but I I want to say something here because we get a fair number of comments on our channel from people that watch it and they say these two are not retired they're working they're going on business trips they're doing this they're doing that that's they should just really retire we are retired from our first careers but part-time work or Consulting like you said Jody is gosh it gives us fulfillment it fills part of our day right I don't know sometimes like last this past Saturday I didn't feel like doing anything right and I didn't do anything I watched TV I read a little bit I took a nap you know there's people that do that every day in retirement it's really unhealthy so so this idea of part-time work or Consulting once you're in retirement you know I think it's important to assess your time assess your plan and figure out if that fits in and if it will be additive because if it's not additive then it doesn't fit into your retirement world and I think that's fine too yeah and there's nothing wrong with having some extra money come in to pay some of your expenses so you can go on vacation or pay for meals out nothing wrong with that in this phase of life especially if it gives you some purpose and you got passion around it and it gives you a reason to get up in the morning so that's the second bucket bucket strategy that we use for our what do we call this we trade the Holy Grail the Holy Grail the third strategy that we have is building Community this is so darn important and we've gotten really good at it and you have to change your mindset you know it just just made me think at at all major transitions in life whether you're going from grade school to middle school middle school to high school high school to College college to your working jobs or your careers or you move around if you're a military family you know you know every big transition in life you have to build community retirement is no different you know finding new friends keeping the old friends you know making sure you're reaching out and I think the really big part here is being intentional about it well yes that that is what we've learned in The Last 5 Years y you can't just come to Florida like we did and move in and expect people are going to ring your bell and say oh you're new in the neighborhood let's go out to dinner we've worked at it right and we've made some mistakes you know we've picked some wrong friends we just don't call them again but we've picked some really right ones and they've introduced us to other right friends so we have uh what are we doing in Wednesday night we're doing a a progressive appetizer and dessert dinner with nine couples nine couples yeah that would be really fun I mean it's I mean that's going to I I haven't done that Mar's a little worried that he's not going to get enough to eat but I promise you will well well I did that in my 30s you know when you meet meet new people but this is such a great time I mean we have F community at the gym we have community at our Golf League we do lunch groups a little while family is critical still we stay in touch with our family but if you can get this third strategy building Community right right your retirement will flourish 100% okay so the third bucket or the next bucket is um because I think this was the fourth bucket is physical activity and you guys know we're always on a platform pushing people to be active we have always been active but now we're in a whole new level of activity that took us again five years to kind of figure out what we wanted our physical activity to be and how it was going to translate to physical wellness you know right now we're both doing morning boot camps you know one hour 5 days a week Mark does five days I only do four because I have a golf day in the middle of the week and it was hard at first you know getting up early you know not knowing what you were doing you know getting a little anxious about different you know workouts I was I know you weren't anxious about it but you know me at almost 60 years old doing an army cwl across cross the floor is not a really good look but it took some courage and now we're addicted and you know what before that honestly our physical activity I'm going to call [ __ ] on both of us because we said we worked out we said we were active but it was walking a little bit and it was doing this we are now busting our butts for an hour 5 days a week four days a week to to feel good to look good to have the energy that we need and I'm not calling [ __ ] on my prior physical activity because my 90 minutes of hot Power Yoga would kick your ass every day that's true so calling [ __ ] call on himself yeah cuz I was in the garage doing it kind of jumping jacks yeah that's not really nice but we're getting stronger we're building muscle look at your arms I'm not going to flex my arms you you know we hit the golf ball longer we spend time walking Ruby physical activity without a doubt if you get this right in your retirement you're going to have Boundless Energy to carry you throughout the day and you know it's funny at any stage of the game so no matter where you are in pre-retirement just retired postretirement 10 years into retirement or any of our kids and I just had this conversation this morning with our 27 soon to be 28-year-old who just got a big promotion your physical wellness has to be a part of your day no matter where you are on the spectrum because if you're physic Ally Fit and Well and you've you know done your exercise everything else gets easier after that you know she said to me yesterday I need a morning routine like yours but I can't figure out how to do it and I'm like I'm 67 and I have a morning routine I wish that I was doing the morning routine I'm doing now at 27 at 27 I I don't regret it well you must have inspired her cuz she got up at 5: this morning she moved her body she ate a good breakfast and then off so that was a good so let's talk about another one nutrition which is big for both of us yeah it's big for both of us um you know uh we stopped eating junk food bad snacks fast food you stop wait a second you're talking about me you didn't do junk food you didn't do bad snacks or fast food but I did I just don't have the stomach for it I kind of wish I did you know when you're driving down the highway and someone says ooh there's a chickfila i i panic because I don't even know what to order I love chickf I know you do but you know we're doing things like more water and healthier snacks and really working hard on not cheating but if we do cheat we're mindful about it right right we're trying to watch our sugar we're doing more of a Mediterranean diet it's actually fun if you've got a little bit of interest in cooking even a little bit start googling Mediterranean chicken and a skillet or something you get these amazing recipes and they're fun you go shopping that takes a little bit of time to start getting creative my nights to cook though I always Google simple Mediterranean chicken in a pan simple Mediterranean chicken in a pan for you is have more cook dinner it's my favorite dish to cook by the way I got to do recipes um we're doing Less meat more fish some chicken a lot of vegetables we cook at home a lot more we do going out to eat is going to be unhealthy I don't care where you go well that's not true not all the time but most restaurants are cooking unhealthy too much butter salt sugar so if you can get this one right this strategy which we think we really are 5 years into it we're getting closer we couple nutrition with exercise your future is going to be different you're going to be filled with a positive attitude about how you look how you feel and your energy level all right all right so the next bucket is the Sleep bucket and again I you know we have videos on the channel about sleep about rest you know and the importance thereof exercise nutrition and sleep are the top three for us in that in that order I think yeah we track our sleep every single day might sound a little weird but we have our aura rings and what happens is if we eat late or eat meat or have some alcohol our sleep deteriorates so sometimes if that's going to happen we just have to know we're going to have poor sleep but that's rare yeah because we really do everything we need to do including getting ready ready for sleep making sure um the room is cold and quiet um no screen time before we sleep because it's critically important for us to get at least 7 hours of sleep I unfortunately get about 6 and a half 6 sometimes because I get up so darn early I get up at 4: and I just can't stop doing that so if I go to bed as late as 10 I'm only and I sleep till 4: at 6 hours including maybe tossing and turning but we're almost obssessed with sleep because it happens every day right so we have to really make sure we do it and I think our sleep schedule and habits really have been helpful I also think you know if you think about sleep it's one of those things that you can control right you can you know control the temperature like you said the the darkness in your room you know the sheets the covers the blankets I mean we we have a weighted blanket that we sleep with which Mark has really loved I kind of sleep hot so I'm in and out of the weighted blank well it feels like I'm being hugged all night long yeah you love you do love the weighted blanket but you know with a good sleep schedule and habits you kind of approach the day filled with like happiness and A Renewed strength and laughter and you know you're you're just you just feel better and on the days when you don't get sleep you know it's good to also jot down what may have caused that bad sleep okay so the next one managing our stress right and I think that you know everything we've talked about now up until now has really really helped us with the stress we didn't specifically talk about meditation but meditation for me over the Last 5 Years actually longer seven eight now because I started it just was on my 50th birthday after I sold yeah after I sold the company I started meditating I'm telling you so you're on nine years I'm about to be 59 yeah two weeks that's right big presents 60 next year no you get presents every decade every decade okay next year um managing your stress and retirement is important there are things that happen that will stress you out yeah less than work during your work years maybe but there's no need to have stress at this stage of our life I mean we've got kids who are sick struggling with this and that you have to manage it so meditation deep breathing exercises um phone and social media downtime I'm so close to just saying Sundays is no cell phone no texting no posting no scrolling at all I think that would really personally do me well for it why you laughing I believe it when I say it okay it's a challenge yeah yeah Mark's a little bit like a teenager with his phone he's constantly scrolling through all day long and why you picking on teenagers I love teenagers let's compare use time on our phone okay let's do that happy to do it right now or later we'll do it later all right well listen the the other thing is um managing your stress it's it's a election year there's war you know in the Middle East right now all of these things create stress yeah managing the news that you consume is really important wouldn't you say but I would say managing your stress if you get this right you will definitely flourish you know you'll begin to live kind of more in the moment and enjoy things in your life that you know otherwise may have been missing all right here's another one that I think it's our last one yeah this is the one that really is important for us in embracing lifelong learning so we've been retired for 5 years and we read like crazy about all sorts of things and we we learn a lot of things we learn from our kids but there are so many aspects of life where you can learn um you know it's it's kind of like we've made the decision that we've got and you've got I don't know 10 20 30 40 years left that's a lot of time to just stick with the knowledge that you've accumulated up till now you don't want your brain to go Dr dry and just stagnant I also think this this concept of embracing lifelong learning you know allows you to shed your old identity right so everything I knew up until I turned you know 53 not everything but a lot of what I learned came from the insurance industry I knew a lot about the insurance industry I knew a lot about distribution and claims and financial management and all that stuff but that does not serving me that well in retirement so embracing like new learning and life lifelong learning helps you shed that old identity it's like a good correlation I think well even new technologies whether it's just the phone but I'm sure by now you've all heard of artificial intelligence or chat gbt which is one of the platforms that you can download on your phone and I strongly recommend you do that it's like asking Google a question and instead of getting 30 different responses you need to scroll through chat gbt actually gives you a typed out answer that solves your problem it's more Consolidated it pulls from other resources the only thing I would say is just remember it's a two-year lag so you're not getting you're not getting the most current that's not true a lot of platforms now are they've updated yeah but lifelong learning using artificial intelligence it's just fun to experiment a little bit don't be afraid of learning anything because as as you said all of these strategies have really helped us and they are our trademark totally great Holy Grail of retirement strategies you heard it from us today that's right these this is where we focus our time and energy in these seven areas and you can too it takes time takes discipline habits and some effort yep use these seven strategies to launch a new phase of your life learn how to meditate learn how to journal learn how to sleep better and what are the key indicators that make you sleep better and what are the ones that you fail on when you have a poor night's sleep invest some time every day to build a a better version of yourself in retirement if you like this video this next one retirement planning for 2024 is a video that jod and I did in January of this year and we broke down all the areas of our life individually and as a couple and for the business that we wanted to focus on this year so you really will enjoy this one next

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