I made these 10 retirement planning mistakes. Plus 3 things I got right. Can I retire?

10 things I got wrong about life after retirement and 3 things I got right. We all make mistakes, but I will admit to 10 in this video so you won't do the same thing. Can I retire? Retirement Planning.
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_*PLEASE STOP USING EXCEL!!!!!!_ It falls way short optimizing every retirement factor*
Retirement Tool Link I reference and highly recommend -- New Retirement. Free 2 week trial. $120/yr after. You will buy this after trying (I have purchased for 3 years).

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*Money Pickle - FREE! use link to set up a FREE 45 minute dialog with a Financial Advisor*
No obligation. Get answers to your questions. Get an expert to look at your plan.

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*Plant Manager, Maintenance Manager and Career Consulting -- 1 hour virtual via Teams/Cell Phone*
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RECOMMENDED FINANCIAL ADVISOR
Neil Fortwendel with Northwestern Mutual ph: 812 549 5213

Video by Lean Driven Reliability LLC
This is not investment advice. For entertainment ONLY. Seek professional help to understand your unique situation.
Affiliate Disclosure: Most of the links on this channel are affiliate links, meaning at no cost to you I earn a commission if you click through and purchase or set up a discussion. Nevertheless, I only recommend products or services that 1) I currently use or have used or 2) I believe can help the majority of people.

#retirement #retirementplanning #retireearly #retireearlyandtravel #financialfreedom #financialindependence #retirementincome #retirementstrategy #findingpurpose #keto #ketodiet #ketovore #hiit #hiitworkout #healthylifestyle

[joekuhnlovesretirement]

*_PLEASE STOP USING Spreadsheets!_** It falls way short optimizing every retirement factor*
Retirement Tool Link I reference and highly recommend -- New Retirement. Free 2 week trial. $120/yr after. You will buy this after trying (I have purchased for 3 years).


Need a CFP to create your retirement plan for a one time fee? My Recommendation: Neil Fortwendel [phone]. Neil created my plan. Plan updates as you wish for a smaller fee. Check Neil out on Facebook and LinkedIn.


*DO NOT GO IT
*Money Pickle - FREE! use link to set up a FREE 45 minute dialog with a Financial Advisor*
No obligation. Get answers to your questions. Get an expert to look at your plan.


*Plant Manager, Maintenance Manager and Career Consulting -- 1 hour virtual via Teams/Cell Phone*

Most Popular VIDEOS

RECOMMENDED FINANCIAL ADVISOR - Assets under Management or one time plan creation
Neil Fortwendel with Northwestern Mutual ph: 812 471 2492

Video by Lean Driven Reliability LLC
This is not investment advice. For entertainment ONLY. Seek professional help to understand your unique situation.

#retirement #retirementplanning #retireearly #retireearlyandtravel #financialfreedom #financialindependence #retirementincome #retirementstrategy #findingpurpose #keto #ketodiet #ketovore #hiit #hiitworkout #healthylifestyle #howmuchcanIspend

[AnnMitt]

One thing that I got wrong was assuming my friends and family would want to socialize with me since I now have tons of free time. Was I wrong! People are cemented with their schedules and their preferences. Forging a new social life for myself has been the biggest challenge during my first year of retirement.

[waynesly]

After retiring I realized that your health is very valuable n I changed my diet n started exercising n now feel like a 30 yr old and able to enjoy retirement to its fullest!!!

[KayFabe]

The point made at 11:45 was particularly impactful. Many of us think that we are 'indispensable' to our employers simply because we work hard and add some value. The fact that we work hard may be true, but any successful company or well-run organization will mitigate single-person dependencies. It may be a blow to our egos, but life and business will go on without us. It isn't personal, it is just a self-preservation mechanism on the part of the organization to ensure viability as people retire or resign which is inevitable. I often think of this when I hear people at work threatening to quit if they don't get a raise or a larger bonus. I can empathize, but they seem to think that everything will come to a screeching halt without them and this is just not the case at all. The wheels don't fall off when they are out of the office on vacation and will likely not fall of once they move on. A bit healthy self-awareness is helpful in these situations.

[dtr]

After 30 years with the same company, they laid me off. It was a shock for 40 of us that day. What made it bearable was the buyout package they gave me. It amounted to $250K in a single check. That was 9 years ago and I still have every dime of that money today. I invested the money and it's worth $410K now.

[grega]

My purchases has plummeted. I use to buy to satisfied unhappiness at work. I like getting up with no plan and no stress. It’s really enjoyable. Have not opened a computer in 18 months. Spend less time with toxic people.

Great video.

[kevinfestner]

You only have under 47k subscribers to one of the best retirement channels. This has to change.... I'm telling my friends about this channel. Josh's channel is another top one.

[AllContinents]

Joe, thank you for your transparency. This was your absolute best video yet. Appreciate your heartfelt candor.

[timalan]

I retire tomorrow and I have some anxiety about loosing my income. I turned 57 3 months ago and I've worked at the same company for 33 years. My pension will be 45% of my current income.
I keep playing the 1 more year game or thinking of the advantages of staying until 60, but then I do the math and understand the only reason staying looks better is because I collect the money over fewer years.
Taking money out of a 401K instead of contributing is VERY difficult.
Stress is real. I stopped managing people 3 years ago and never realized the stress until I went on vacation and didn't worry about work every day.

[karenbochinski]

I have so many hobbies that my days go by so quickly. I am a type A person and love to go go. The problem is when my husband retired he sat in his den and u-tube all day long. I wanted him to pitch in with the housework so I can enjoy my hobbies. He acted like a teenager and it caused problems in our marriage. I wanted to travel with our camper and him to figure out our trips. He took forever to do that. He is type B personality we had some issues. He is doing better now. Little did I know when a spouse retires that this is a big transition for both parties.

[paigeparsonslewis]

One thing I got right was to practice retirement by living on my expected retirement income for 6 months before giving my notice.

[thomasryan]

I could've retired in 1999 but decided to stay. I'm the most senior employee of 2400. I like my job and the people I work with. I've remained technically competent, in physical shape, and sometimes work 12-hour shifts without much difficulty. My work is mostly from a desk which is not a heavy lift. I would like to stay for a few more years, however I get escorted out the door this summer due to age. Oh well. Just remember this day is coming and plan well.

[brianjarvis]

I did play the “volunteer for the retirement” package card. We knew layoffs were coming, and after 40 years and approaching age 60, i had had enough. I got 1 year with benefits. Sure made the transition easier. By mid February this year that all runs out, but I have had a plan for many years and we will be fine. Just have to figure out health care plans this year, until I hit 65, but again, i had planned for that. Great content by the way!

[billhungerford]

Joe, solid video. I love the dispassionate, engineer’s take on retirement. You went through all of these critical areas in a logical, informative way. Keep the great content coming!

[mmjvtnl]

Joe,
I have found that "redefining my goals" was a big change. I found that totally changing from to do lists to how can we enjoy
I totally get the goal oriented lifestyle.
Thanks for the video.
RSB in NC

[markflippin]

This video was created for me . I ask myself all these questions everyday. Thank you for all you do

[dueoutdoors]

What did you do for insurance? Cobra? Obama Care? I’m 58 and looking at 65 as R Day. The main reason for waiting is I don’t want the expense of health care premiums.

[rogfromthegarage]

First video I've seen from Joe. This was absolutely amazing for me because you covered many of the things that are concerning me as I contemplate my retirement. The final tip about not working another year is really what I was looking for.

[Eric-fzon]

Good for you man, living the dream! I can’t retire until my house is paid off. $2700 a month will put a damper on retirement. Once that’s paid off I’m golden.

[panodanno]

Excellent video. I appreciate your honesty and analysis. I'm 10 months from retiring, so many of these things are on my mind. Plenty to think about and hearing your experience helps.