Can I retire? Expenses in Retirement (Lessons Learned, Mistakes and Surprises) retire early

Can I retire? Your retirement plan's success starts with a budget - here is mine. Your expenses must be known to predict the necessary assets required (savings, pension, Social Security) needed for success. Mistakes and Surprises. Financial Independence Retire Early. Financial Planning

-----------------------------------------------------------------------
_*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.

-------------------------------------------------------------------
*For Individuals -- I want a Mentor or Coach -- 1 hour virtual via Teams/Cell Phone*
---------------------------------------------------------------------
*For Business Consulting -- 1 hour virtual via Teams/Cell Phone*
--------------------------------------------------------------------
*A Plant Manager's Resume Guide*
* I created a guide to you creating an outstanding eye-catching resume.
----------------------------------------------------------------------
*A Plant Manager's key points to mastering the Job Interview*
-----------------------------------------------------------------------
*Get both my Resume Guide and Mastering the Job Interview - save 25% when you bundle.*
-------------------------------------------------------------------------
*How to Negotiate a Pay Raise -- Step by Step*
-------------------------------------------------------------------------
*Video on health insurance before Medicare*
---------------------------------------------------------------------------
RECOMMENDED FINANCIAL ADVISOR
Neil Fortwendel with Northwestern Mutual ph: 812 549 5213

Video by Lean Driven Reliability LLC

-----------------------------------------------------------------------------------------
Has this content improved your career? Got you a promotion? consider supporting me through Subscribe Star for $10/month via this link:
-----------------------------------------------------------------------------------------
I retired at 54 years old (4 years ago). I have a mechanical engineering degree which led to a 32 year career in manufacturing. Most of my career I was in leadership positions including three roles as a plant manager. I distinguished myself as a culture change expert in asset reliability and maintenance. I retired to coach, mentor and consult very part time as I enjoy life.

I am not a Financial Advisor. The content of these videos is not intended to be advice, but rather to tell my experience (good and bad), my story and my lessons learned; they are for your entertainment only. Seek professional advice before making any financial decision including when to become financially independent and/or retire early.

#financialindependence #FIRE #retirement #saving #investing #retireearly #retirementplanning #financialindependence #retirementincome #financialplanning #financialadvisor #socialsecurity #keto #ketodiet #intermittentfasting #loseweight #getfit #canIretire

[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

[susannicky]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My husband and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

[benjaminsmith]

I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accts totalling over $250k. I took a big hit in Q4, 2023. Right now i am just looking for ways to recover in 2024.

[Sheil-hard]

I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.

[dorissteve]

Retirement is wonderful if you have two essentials — much to live on and much to live for. Invest wisely and get good returns.

[ericmendels]

it's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time. don't think I could retire with less than $3m in income generating investments and i'm not talking 401k, maybe $2m at the very minimum. I plan to work until I'm at least 45.

[ClementRusso]

The market crash and high inflation are stressing me about retirement. Despite the challenges, I know investing is a long-term game, so I'm staying focused on the future.

[andrew.alonzo]

I’m currently retired, and considering the current rollercoaster nature of the stock market, I decided to stay on the sideline for awhile, now I’m worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?

[henryharper]

This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.

[Esmeraldalunamaria]

inspired content!! Every small contribution towards your retirement is like planting a seed. Nurture it wisely, and when the time comes, the tree of financial security will bear the sweetest fruits. spend more and invest less before your retirement.

[Aziz__]

Even if bond yields are increasing while stock prices are decreasing, the markets are still skeptical whether the Federal Reserve will stick to its goal to raise interest rates until inflation is under control. While I'm still debating whether to sell my $401k worth of equities, what is the best way to profit from the present down market?

[CourtneyRobinson]

I needed this! I left my job four months ago and I have seen this trend. Because I have more time to cook from scratch, not driving much, time to comparison shop, not dressing up for work, no work lunches out and I’ve cut our groceries 25% using new strategies.
This month I tracked and we have been able to see a 20% overall drop in our spending.
I was considering going back to work because my husband is working for another 2.5 years and quite frankly I was feeling a little useless. As I analyzed all of this and saw this video it made me realize the value my time is bringing to the table. Thank you.

[helenoliver]

There are a lot of strategies to make a tongue-wetting profit that the average Joe don't know. Personally, the financial market for me seems the only way forward with my long time horizon (accrued roughly $457k in gains since Mid 2021 ) but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe!

[unikornkontroller]

I'm nowhere close to retiring but doing basic home maintenance is key to saving money. I'm extreme where I'm building sheds, installing entire irrigation systems...BUT just doing the simple stuff like you mentioned will save people thousands of dollars over the years. And with YouTube there's really no excuse not to take on a project or two.

[lisak]

I’m new here and wanted to say how much I appreciate you sharing of real life experiences and wisdom.

[martybabitz]

This is one of your absolute best videos, Joe. The idea of expenses being overestimated (as opposed to underestimated) as is often assumed to be more of a potential problem - and the problems that can cause in planning, working “too long” etc. is a transformative concept.

[AnnMitt]

Joe,
You have a natural talent for YouTube videos. Your speech pattern and common sense personality makes watching your videos a pleasure. 👍

[SharonR]

This was excellent. We use New Retirement and are trying to determine when to retire. My husband is 59, and we are concerned with healthcare. I will definitely watch your healthcare video. We still have a mortgage, however, we would LOVE to downsize, thus getting rid of the mortgage. I agree with you, expenses are critical. Thank you for noting the idea of extra money at the beginning of retirement. The only thing I can see missing in this plan is when you are 80++ and need long-term care. We are paying almost $15, 000 a month (yes, you read that right) for care for my father until his assets are down to a point where Medicaid will need to step in. My Mom is 90, in good health, and living in their home. It's a scary time, financially.

[LarryWelch-cr]

Thanks for this video. One of the hardest things is to estimate what your expenses will be. I was relieved to hear what your yearly expenses were and to also find out that you ended up overestimating. The expenses that I calculated were about the same amount as yours per year.

[janethunt]

I appreciate this. We live pretty frugally, except when it comes to travel. Showing how expenses differed for you made me realize that ours will probably not change unless we move to another area.