How Do I Know When I Have 'Enough'?

Many people, regardless of how much money they have in their portfolio, never feel like they have “enough” to retire. What is enough and what does that look like for each of us?

Unfortunately, it can't be distilled down to a single number. It's something very specific to you.

In today's video, James Conole will walk you through how can you think about what enough means for you so that you can apply this to your own personal financial planning to create that peace of mind that we're all looking for and so that can fully enjoy your retirement.

Learn the tips & strategies to create your secure retirement.

⏰ TIMESTAMPS
00:00 - Introduction
1:27 - What is "enough"?
4:31 - What's Most important To You?
7:34 - How Much Do We Need?
9:58 - What is Sufficient Protection?
12:34 - Living Intentionally
15:14 - Focus On Your Numbers
17:02 - Contentment and Growth
17:51 - Working With Us

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[tobirates]

The content is this video is worth hitting the subscribe button. Very impressed.

[jpdriver]

A gentleman at my gym who is 70 years old retired at age 55. He was in the corporate world and is still in great shape for his age (daily workouts) and healthy lifestyle. One day I asked him about retiring that early and if he regretted it or was scared of the downturn in the markets as a retiree. He responded by saying to retire as early as you can so you can enjoy life. He does not regret retiring early one bit. He lives a simple lifestyle and stays busy with hobbies and helping others. His investments and social security are enough for he and his wife to live comfortably and do some regular stateside traveling. He has convinced me that that there is more to life than working for someone else until my health is gone. Enough means living off of the monthly pension and social security while letting the investments cover big events such as home repairs or health events.

[emayhand]

I am so happy I didn’t let age bias stop me from viewing this content. When I saw the young man in the thumbnail, I thought what could he possibly offer of value to someone probably 30 years his senior? Boy was I wrong! This is some of the best content I’ve seen on YouTube bar none! What is your enough is so simple yet so powerful. Thank you so much for sharing.

[fannieallen]

I think retirement age is different for every body. My husband retired at 66 and he is back to work part time after 4 years. He was bored not having something he feels it’s important to do. He is a CPA and loves what he does. We have a vacation home where we go to stay every other month and we also travel to Europe and Asia every year. We have plenty of money and probably won’t be able to spend half of it when we died. My husband certainly is not working for money but as he said “ for his mental health “. He needs to keep his brain
Proactive .

[johnd]

Going from a saver and investor to a spender is a huge psychological leap. For savers, spending our money is not in our genes.

[tcwaz]

This video really hit home for me. James, you have an outstanding way of explaining things in a clear and concise manner. I have been watching all of your videos and listening to your podcast over the past few months. Thank you for the helpful information as I am getting close to retiring!

[Da-day-day-Dave]

James, you’re wise beyond your years. If I didn’t already have a great financial planning company, I’d hire yours. Spot on great advice that also takes into consideration the “human” side of finance.

[fialee]

Retirement is scary because it's mostly a one way street. While there are always outliers, the vast majority of people who retire by choice, have basically said, I'll never make more money ever again (peak earnings). If you quit and retire, they know it's extremely unlikely to ever get paid at the same level they are before they retired, and being hired as an older worker... so the scary "what if's" take over. What if they have a health issue... they need more money for a reason... they don't like retirement and want their old job back (but they've hired someone 50% cheaper and 20 years younger already)... they get a divorce and lose 1/2 their assets. Once you walk through that retirement door... it's prob in the top three decisions you'll make in life.

[jayholiday]

Excellent content James. I apparently have enough, but my job is pretty good, but a manager annoys me somewhat. With blood pressure creeping up, I may just quit.

[andylewis]

I started watching your videos about a year ago. I appreciate your calm, clear explanations and your focus on putting our portfolios into perspective.

[cgong]

I think you are right on at philosophical level. However in real life, I think the cost of health insurance is the main thing that many people are delaying their retirement. It’s hard to calculate due to inflation and other factors and it’s getting more and more expensive. This is especially hard for those thinking of retire early. The rest are easier to find out and manage. The healthcare system in US really sucks.

[spocksvulcanbrain]

My phylosophy about "how much money" I need has always been: I want to be able to afford the things I want (within reason since my lifestyle is not extravagent) without having to worry about the cost and without my portfolio's capital being affected. In other words, I want to be able to have my money grow enough so that I don't have to worry about how much I spend/need. After that, it doesn't matter whether my portfolio makes 2% or 20% because my needs have been met and I'm not going to run out of money.

[mhorto]

You are doing a great job! Thank you for explaining this mindset shift and funded contentment. You are very well spoken.

[may-jeanpowers]

This is one of the most helpful videos I’ve watched on personal financial planning and I’ve watch a lot. It shows that simplicity is often the best solution. Thank you, I’ve subscribed and will pass this on.

[michaelswami]

Your videos are so helpful. Thank you.

[leannesampson]

EXCELLENT ADVICE. I was just going to ask you this question and you have fully answered it and then sum+++
Retiring can actually be a bit of an existential crisis and you give such wonderful advice on how to address this from both a financial and psychological/emotional pov.
"know your numbers" - we are given this advice wrt our health markers (blood pressure, cholesterol, etc) but it is just as important wrt our financial numbers - how much does one actually need for what, and how to secure those "numbers" in the pursuit of contentment in our 2ndHalfOfLife.
Thank you for this priceless advice ♡

[JC-]

Excellent video, I like the "reasons" you selected as they fall right in line with what I was thinking (Financial freedom, college expenses for kids/grand kids, Legacy) but I could never quite lay this out as simply as you did, now I can. Great Job!

[sandralindsey]

This is a very effective video. Thank you!

[jimmyjohnson]

You have you never look at you bank account. Im now age a 160 acres. In my life time Ive never " balanced " my check book. Never had a need to I only spend what I need. Im now on my second truck Ive ever owned. 1981 a Ford 150 for 7, 500 dollars. Now still driving my 2002 S10 pick it for 16, 000 dollars back then. Save your

[blaineevans]

Really good sound advice from Jason. All their videos are thought provoking and easy to relate to. They are the best I have come across.