Tag: azul
The 5 Most Important Years Of Your Retirement
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
as a parent when you have your first child there's no shortage of people to remind you just how important the first five years are of your child's development unfortunately there's no similar Network there's no similar information source for us as we retire what are the most important five years of your retirement so I'm gonna hope to break that with today's video let's go for a walk and I'll I'll share my thoughts with you with you having been a fee only financial advisor for over 20 years now and I'll I'll cut right to the chase I think the most important years just like with your child are the first five years and I want to share that you know this is a big transition if you're thinking about retiring if you're getting close to retiring this is a big transition you think about like you know a long time ago maybe when you first left home whether you went to college or you developed a trade and you went off on your own to start quote unquote adulting the transition from high school to college where you put everything you own in a couple suitcases and you say goodbye to the the people that have been nurturing you for for your entire life that's a big big transition I'm sorry that background noise is a train you really can't see it but it's there okay so that's a big transition and the transition to retirement is every bit as big right I mean it's it's the whole world that you've known for a long long time and just like with a teenager uh or a young adult heading off to college your identity is about to change as well so you know the it's a big transition but it's important that you jump in with both feet it's important that you start off on the right track and you know one of the keys is is to understand what your goals are what your hope you know what you're going to stand for what you're hoping to do in retirement not that you have to have a to-do list but you know these are the things that are important to me as I retire and you can update them for instance for me um for me I I kind of when my day comes to retire I'm not retired yet but when my day comes to retire the things that I have thought about that are going to be important to me and are important to me now are number one relationships um you know when you work unfortunately you're not able to spend as much time with the people that you love and you care about so I'm hoping to spend more time with my adult children I'm hoping to spend more time with my wife and with with friends that mean a lot to me that unfortunately right now I'm not able to spend a lot of time with so I want to spend a fourth of my time on relationships I want to spend a fourth of my time on my health having your health is really key once you lose your health you know it's a retirement's gonna look very different for you so doing what I can to eat in a healthy way to work out regularly to keep my health is going to be important then I've always been a lifelong Learners so I want to continue to learn so a fourth of my time on relationships a fourth of my time on my health a fourth of my time just learning I just love learning and then a fourth of my time as a teacher and that's part of what this YouTube channel is is is giving back and and sharing with folks I'm fortunate what I've spent my life my life's work is something that uh brings value to a lot of folks it's not it feels like common sense to me because I've been doing it my whole adult life just like whatever you've been doing most of your adult life probably feels like common sense to you so it's important to jump in with both feet it's important not to be frugal you don't have a financial plan and know what your goals are and you know many regular viewers of my channel right we're good Savers um we're good at identifying what our goals are and saving towards those but I don't want you to be frugal and it's natural I'd say well over half of people you know whatever their budget is whatever their plan says that they can spend they end up you know still saving 25 or 30 percent of that and don't do that right it's it your whole life has been a balance between current you and future you and now this is your future your uh the future you so be sure to spend that money and enjoy it these are your healthiest most active years uh I also think it's uh it's it's good to have a financial plan if you don't have a plan boy it's really hard to know how much money you can spend and you know a lot of people are sacrificing unnecessarily you don't want to do that you don't have to do that so have a financial plan and have a plan a time plan um that I already talked about right think about how am I going to spend my time 24 hours a day is a lot of time right a significant part of our life has been spent at work okay other reasons why the first five years are super important there's some big decisions that need to be made in the first five years let's say you're 60 and um and you're retiring early a lot of viewers of my channel are hoping to do that or you're 62 or 63 you know there's some big decisions that need to be made between you know let's the first let's say 60 to 67 60 to 68 even above that but you know Medicare Medicare is not as easy as just raising your hand saying hey government you know I'm 65 years old now I'd like my medic I'd like my medicare right you have to decide do you want your uh traditional Medicare or do you want what's called Medicare Advantage which is a great marketing name uh traditional Medicare is provided by the government Medicare advantages is provided by a private company and you can change your mind on that but if you go with traditional Medicare uh it has a twenty dollar deductible for Medicare Part B and you can you can buy Medicare gap insurance and normally outside of a few exceptions you have to go through medical underwriting to be approved so if you have a pre-existing condition an insurance company can deny you the meta the Medigap insurance but when you first qualify for Medicare I am not a Medicare specialist but you have a six about a six month window where you don't have to go through the medical underwriting you get an exemption for that so that's a big decision also when you're going to start taking Med uh when you're going to start taking social security is a big decision so the first five years are important another reason is because you've got these big decisions that you have to make and then unfortunately this is just a reality that we all face in the first five years we Face what's called sequence of return risk it turns out that having negative returns having bad stock market returns in the early years of our retirement are have some of the biggest impact as to whether our financial plan is successful or not and none of us know what the first five years are going to be like but that's one of the reasons that the first five years is so important another thing that's important if you're interested in this topic is to watch this video up here that talks about five reasons to uh it talks about I'm sorry average income for retirees and this video down here that talks about five reasons to retire as soon as you can thanks for watching bye bye
5 Retirement Tricks You Were Never Taught
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
these five ideas took me 20 years to find out as a financial advisor and also make sure to view them all since I don'' t recognize which ones are going to reverberate with you I can show to you number 5 is my personal favored but leave in the comments what your favorite is fine let'' s go with a stroll uh and the very first suggestion the initial suggestion uh that once again they didn'' t instruct us in college they didn'' t instruct us in secondary school and however life didn'' t educate me a lot of us these points we had to discover them on our own uh which is this is not our moms and dads retired life right we are healthier than our parents were uh travel is a fair bit more economical and easier today than it'' s ever been I ' ve been lucky in the last 3 or four years to be able to function from another location from 30 various nations and I can inform you my smart device had has actually made that experience so much simpler finding an area to stay obtaining from the bus or the trains terminal or the airport terminal to where I'' m remaining finding the the place that I desire to you recognize the cafe I wish to go to or the gallery or the basilica or you recognize whatever the visitor destination is it'' s a whole lot less complicated with the smartphone so uh this is not our parents retired life this is not uh resting around viewing tv and fishing I'' m not stating that every one of our moms and dads did that but the entire globe is open to us specifically publish covid ideal um is is travel is easier it'' s much less costly than ever before so product leading is this is not our moms and dads retired life if we considered our parents and claimed ah I'' m not exactly sure I ' m that excited about retirement I assume the sort of retired life we can have is is is is truly amazing and really interesting we have to do our homework to be prepared for it uh both financially along with mentally you recognize what does retirement resemble what are we passionate concerning what are we delighted concerning how are we going to invest the moment however if we do that research I think we have an actually fun-filled retired life to eagerly anticipate all right and second is is exactly what I simply shared which is you recognize we have to do our research and I I think we have regarding a hundred hours worth of reflective job that if we do that I believe we can uh really feel like we'' re well ready uh beyond the monetary facets for our return atmosphere and also then on top of that naturally the financial aspects are vital I would urge you to use a cost just monetary expert have a professional strategy prepared for you it doesn'' t have to be insane costly but you wear'' t intend to think that you ' re all right you'need to know that you ' re alright you ' re we economic advisors can not give you assurance however we can offer a lot of clarity simply Google cost only monetary expert near you I maintain claiming cost only monetary expert due to the fact that they have a fiduciary commitment to place your rate of interest ahead of their own 100 of the time as well as that'' s actually essential yet returning to second doing our homework it'' s not simply the finances of it you recognize it'' s what ' s your purpose going to be a great book to assist you consider your purpose is a publication called stamina stamina to strength by Arthur Brooks what are you going to do with your time you'' re mosting likely to have a whole lot of time in retired life and what are things that are really vital for you as well as simply check out the collection of videos that that I carry YouTube I'' ve I ' ve covered this topic uh several times and various other YouTubers have also so think concerning exactly how you'' re mosting likely to invest your time I can show to you high degree after doing a whole lot of reflective work as well as having actually guided other individuals via it right I indicate you simply can'' t aid yet also think concerning you know how does every one of this apply to my scenario the four areas that I'' m very fired up regarding during retired life is number one having time for connections I have a mom who'' s 87 years of ages lives a pair thousand miles away I was privileged adequate to be able to invest two weeks being a type of her key caretaker were my sis uh went on vacation finally it had been the pandemic because before the pandemic that she'' d been able to take a vacation so connections and also buying partnerships the time for that I'' m looking for or 2 as well as all for me every one of these are burglarized concerning a four so there'' s four of these the 2nd one uh is taking taking care of my wellness doing what I can to remain healthy because uh retired life is mosting likely to be a heck of a whole lot more fun if I'' m healthy so uh a 4th of my time on wellness and after that I'' m a long-lasting student I like learning so understanding is is continuing to discover proceeding to enroll uh proceeding to simply find out brand-new points I'' ve done numerous points I uh when I was much younger I was uh taking flying lessons and I'' ve actually obtained the score that you require to work for the airlines I instructed myself just how to code this YouTube thing so remaining to learn is essential to me and after that the fourth area is giving back as well as as well as for me that that suggests points like this YouTube channel right uh teaching as well as mentoring and mentoring and sharing the expertise that I have uh with people that I believe it can aid so those are the four areas for me that'' s what ' s right for me it'doesn ' t'mean that it ' s right for you um let ' s see and after that the the last one regarding preparing your research is you understand if you reside in the USA we need to think of what are we mosting likely to do for healthcare insurance up until we'' re 65 as well as you understand there are people that can aid you keeping that the only financial advisors can assist you with that said there'' s Professionals that focus on this area however there are remedies to that so however do your research before you make the leap you wish to see to it you'' ve got that base covered all right number three uh the number 3 concept um here that no one educated you regarding retirement uh as well as I suggested to it in the last thing which is wellness is more crucial than riches you understand actually actually do what you can we you know we can'' t prevent cancer cells we you understand we can do what we can we can eat right we can exercise we can do all of those things uh and as well as hopefully that will certainly aid maintain you healthy and balanced longer as well as with any luck fend off any of these terrifying illness that none of us desire alright so simply do what you can to remain healthy number number four is um you you don'' t need to fully retire right if you have a lot of stress at job um if if you'' re prepared for a change of pace if you'' re close financially and also you wish to make the jump you understand there there are part-time work out there there are side hustles out there that you can do side businesses that you can start uh so if you'' re close to retirement if you ' re like boy I ' d really like to retire earlier as opposed to later it doesn ' t have to be uh All or Absolutely nothing there'' s other means to make earnings and also the concern is you understand is is 50 totally free far better than no percent free on being retired you understand could you take a seasonal work as well as perhaps just work 3 months out of the year I stated in various other videos when my youngsters were more youthful I made use of to instruct a handful of weekends winter sports uh at a regional ski hotel so my whole family would obtain free ski tickets but there are these seasonal jobs and also is it much better to be 50 complimentary 80 percent free as well as work seasonally or function part-time work 20 hours a week so as to get health treatment advantages points like that so as well as there'' s no right or wrong solution it'' s just you know depends on um uh what'' s right for you fine number 5 as well as I'' ve obtained a Reward one below so put on'' t wear ' t uh disappear after number 5 uh before we obtain to number five if'you ' re enjoying this video please offer me a like uh the thumbs up it does assist the YouTube algorithm discover other individuals that ideally my channel can assist number 5 um is it'' s okay to have a back-up strategy you recognize pertaining to um number four you know maybe you think you have sufficient cash to retire or you intend to save uh a buffer and you'' re gon na work an additional two or 3 years to get this buffer uh and also you recognize what having a little money having this pillow makes a lot of feeling but you obtained to take care due to the fact that one year can conveniently develop into three or 4 years um so possibly you'' re in rather of having that buffer you have a backup plan where you'' re gon na have a part-time work you'' re mosting likely to have a you ' re mosting likely to develop a side rush if you need to in order to give yourself that barrier if if you hop on the unfortunate side of series of return risk which is when the market is adverse for very first couple years of of retirement or in the very first couple of years of retired life because that'' s when your sum of cash is the greatest uh it'' s when you ' re most prone to unfavorable returns and also as well as none people understand if if we'' re going to get hit with that or otherwise however perhaps the barrier possibly the insurance coverage if you will certainly versus that is a readiness to function part-time or to produce a side hustle business if you do get struck by that all right and afterwards the last thing I intend to leave you with and also it'' s it ' s a stating in my industry um you for lots of people they put on'' t require more money they just require a plan they need a tactical plan what are the important things that are vital to you what are those things mosting likely to cost and afterwards just how do you accomplish those and also you know I truly motivate you to connect to a cost only monetary advisor as well as state Below'' s my scenario can you aid me assume via am I am I shut to being able to retire are there things that I'' m not considering that might enable me to retire sooner as opposed to later on and to find a cost only monetary advisor just Google one I maintain saying charge only economic advisor because they have a fiduciary obligation to you as well as that'' s essential so I hope this video clip has actually been useful if you'' ve appreciated this one I understand you'' re going to enjoy this video clip up right here that speak about the ordinary earnings for senior citizens in America and also this video down below that talks regarding five factors to retire as quickly as you can many thanks for seeing bye bye
Recent Comments