13 Things you need to do before you retire

If you're looking forward to retirement, you're not alone. Every worker’s dream is to leave their 9-5 jobs behind and enjoy the freedom and flexibility of retirement. But just because you think you're ready to retire doesn't mean your bank account agrees. In today’s video, we will look at things you need to ensure you get done, before you even think of retiring.

#retire #wisdom #work

Timestamp
(0:37) Plan, Plan, Plan!
(1:07) Know Where Your Retirement Income Will Come From
(1:47) Avoid Lifestyle Inflation
(2:32) Learn How Medicare Works
(3:51) Assess your personal savings
(5:02) Apply for a Reduced Real Property Tax Program
(5:28) Map out a retirement budget
(6:14) Eliminate High-Interest Debt
(6:52) Develop a strategy for claiming Social Security
(8:26) Figure out what you'll do with your time
(9:32) Coordinate Timing With Your Partner
(10:01) Consolidate Financial Accounts
(10:28) Reduce Your Portfolio’s Risk Profile

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DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.
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[Hannahbenowitz]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[ryanwilliams]

40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

[GillerHeston]

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 wife 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.

[Michelle_Sanders]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment.

[HasimAdem]

> When you read articles about financial freedom, you may hear people talk over and over again about how they spend next to nothing to be able to retire at a younger age like 30. Instead, they may have already achieved financial freedom and boast about how frugal they were in order to retire well before the typical retirement age.<>

[charliehunnam]

I'm not in any event 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 I try to focus on the long term.

[patriciacarlos]

Thank you. Just what I needed to watch. My hubby and I are directors of our farm business and own property, plus small pensions. I am nearly 52, hubby is 55. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.

[iuordanmatkov]

just sold a property in Scotland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[Patricia-Margaret]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for....

[Aaroncarter]

I’m 75 and have been in retirement since 2002, and over those past 19 years, I have taken up hiking, swimming, traveling, and just completing my bucket list. Life’s good in retirement.

[kevinmarten]

I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?

[RetirementTravelers]

Downsize your life and get rid of “stuff”. We sold everything to travel the world and it is so LIBERATING!! Some great advice in this video. Thx. John and Bev

[derekmcmillian]

I've made so many mistakes in the past far as planning for retirement that I'm playing catchup like never before. Then my Mother ends up needing someone to take care of her 24/7. So now 13yrs away from retirement with no money saved etc. I must rethink everything. For those who are younger please plan ahead for the day you retire. Small steps 40 even 20yrs ahead can make a great difference. God bless you all. Amen

[LupeBaptista]

Curious, I’d be retiring/working much less in 5 years and want to know best how people split their pay, how much of it goes into savings, spendings or investments? I earn around $150k per year, but nothing significant to show for it yet.

[masterlee]

All good points. I remember at age 19 passing in front the social security office and laughing telling myself it will be a long time before I visit that place. Now I am 62, but I am not laughing anymore. With that being said I am fortunate to have a job I love and can do as long as I want to work. I also have $600, 000 in IRA Accounts and my home is paid for. As far as social security, well someone asked Dave Ramsey when should they start taking their social security? Dave's reply was "That's easy just tell me when you're gonna die" . I am waiting until at least 65, knock on wood. I am in great health right now, but the reality is we just do not know what tomorrow holds. I believe we have to live life, but I also believe we have to plan like we will be here well into our 90's.

[A.Man.From.Cyprus]

Aaah! After retirement is a very difficult phase of life, especially if you are alone! I hope everyone, after retirement, be healthy and happy! 🙏

[ClementRusso]

I'm nearing retirement in three years, and despite having solid companies in my portfolio, my profits have stagnated in this uncertain market. Are there any calculated profit opportunities in this recession?

[bengonzalez]

I'm 58 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, 40years nonstop just for a crooked system to take all you worked for,

[lindav]

Seniors do not "inevitably" end up needing nursing home or assisted living care. Per the National Institutes of Health, in the U.S. only 4.5 percent of older adults live in nursing homes, and 2 percent live in assisted living facilities.

[andreskylo]

*Great video. We all strive towards financial stability and a better life. It is easy to achieve this through the right investment, by living frugally and budgeting. I’m glad I learnt early in life to work hard for financial freedom*