5 Reasons Why You Should NOT Retire - Retirement Planning Truths

We may recommend NOT retiring yet if we see these 5 things during the planning stage. But the good news about these is that they can be fixed quickly.
Dave Zoller, CFP®

Retirement Purpose Guide

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00:00 The 5 Things
01:06 Part Financial and Part Non-Financial
01:47 1 - Running From Something?
02:40 Retirement Depression
03:30 Important Questions to Answer
05:09 Example of how one retiree found purpose
06:33 2 - Are you currently getting the"3 Cs"
08:00 Making a gradual transition?
09:12 3 - If you have more control over your time (Business Owners)
11:23 4 - The word most people don't want to hear
12:35 5 - Part financial and part mindset
13:49 Retirement Purpose Guide

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[bernie]

Retired 7 years ago at age 62. Not one day of that 7 years have I missed working. Not one day of the 7 years have I thought that I made a mistake. If you work and you enjoy your weekends, holidays and vacation time, then know this, being retired is endless weekends, endless holidays and endless vacation time. If you get bored in retirement, you are doing it wrong. The idea that you must find something to do to be happy is BS.. I get to spend everyday with the love of my life. We will be together 50 years this fall. We love each others company. Look, we both worked, but never lost sight of the reason we worked and it's wasn't for anything silly like a sense of purpose. We were there for the money because as an adult you need money to live. Once we no longer we needed an income from work it was time to retire and reap the benefits of our life long labor. When I retired I retired. Remember you can't be retired and still be working. The definition of retired is literally "no longer working".

[gbb]

I retired a year ago at age 60. There is so much to do that I enjoy-Gardening, travel, volunteering, sometimes I work just as hard as when I worked for money, but it’s on my own terms, not for any entity.

[mikesurel]

I cannot wait for boredom and purpose to be my biggest problems

[olerpdh]

Dave, there are exceptions. I'm that. I have no debt. I own multiple properties. What I need is the business of interaction with my multiple colleagues in my engineering industries. That energy drives me. Money is not the issue. Work, contribution is the issue. I'm am 70 and I'm not done yet

[garrett]

I retired at 46 and haven't regretted it for one second..

[pensacola]

As a longtime retiree I can tell you that retirement can be terrific. But not necessarily easy. It is another stage of life, and to be fulfilled and satisfied, you have to work at it. And it does not happen overnight.

For a young guy, you really have a lot of insight about this subject. Keep it up.

[dannym]

I was off work for 8 months and loved it, No disenchantment here, actually l've never been happier, Between going on long walks everyday, then working out on weights, my side hustle on ebay, planning my meals out, my coin collecting, my gardening, ect, ect all on a daily basis actually not enough hours in the day.Also no stress having to go to a job that kinda sucked.l felt free lm not working a day past 62 tomorrow is not guaranteed go at 62 ppl.

[terryB]

I had to leave my FT job as a Nurse to help my 93yr old Mom who is now 95..I do work provisional 2 days a month to keep my current job. I'm widowed taking my SS widow benefit. Taking care of your elderly parent is challenging. Out of pocket elderly care is Very Expensive. The elderly if they didn't work outside their home doesn't give them extra $$. I've enjoyed all your information. I have always lived on a budget. But there is always room to improve. Thank you

[joekuhnlovesretirement]

Retired 4 years. Never disenchanted. Agee 59 now. Honeymoon ends and freedom emerges. Bored less than 1 in 100 days. Key is interests, hobbies and relationships

[gimcrack]

Four days before I graduated from High School. I line up my ducks in a row and follow it to the T. I'll be 60 this year and I can say my planned has worked flawlessly to this point. And I don't see nothing standing in my way to finish my life to the end of fullness of nothing but happiness. I'll never do a complete retirement plan. I set up my plan to semi-retirement plan. I already finish my bucket list and taking all the vacations that I would like to take. Short trips and long trips. My last trip which was only 4 hours away. Was a three day trip to Put-In-Bay island and had a complete blast like all my trips. I don't work hard, I have money, but not in the richest status. Just comfortable out of debt since 36 and even own my own home with no mortgage to owe. Life is to have fun. You plan it for today, not when you're old. I turn the tables to my advantage. Not the old fashion way, that's the wrong way of doing it.

[timothysullivan]

Retired for 1 month now at 58 years old. I enjoy working with my hands have many projects to do that I did not have time for when I worked. However, I place maintaining my fitness first and excercise at least an hour everyday. I will continue to participate in several olympic length triathlons a year. Run, road and mtn bike, swim, cardio kick boxing and yoga take precedent over my projects. I stay as busy as when I worked selling medical implants. Excercise is the fountain of youth. Enjoy

[faythang]

I met 3 out of 5 reasons...so currently i am not ready to retire yet but will work towards it! Very geniune & sincere advice! Thank you!

[tommwarneke]

Phasing into retirement would be what your describing, staying at work with less stress, less money, more relaxed! We would love a templet to work from to approach our employer with in our phasing from work….

[dominic]

Great vlog with some brilliant points raised Dave. So accurate in my experience 👌🏻

[ricardojmestre]

What a fantastic video! I am based in Europe and it's helpful nonetheless. Thank you!

[joelpless]

Thank you, David. Very helpful. I am 63 right now and still happily working.

[quacktuber]

I like to play video games, hit the gym and hang out with kids and family, walk the dog, do gardening, but... I tend to forgo things so i can decompress from work... Like reading, visiting family at cottage weekends, visiting brother at his Florida house, visiting infirmed mother, napping mid day when feeling tired and burnt out, etc. At 55, I'm already noticing what I'm giving up my continuing to grind. Maybe 2-3 more years but I'm looking forward to it

[garydavidson]

Dave, you are right on the money that some should consider “retiring” to a reduced workload that lessens stress and rids them of some of the less enjoyable parts of their work. As a “retired” CPA, I now do only consulting and business succession planning work a couple of days each week. Besides the benefits that you outlined, I find that it also has helped a number of clients, as well as myself, by creating a middle stage between full time career and full retirement. Many have a very difficult time with the thought that the nest egg that they have created over many years may now start to shrink instead of grow. In this middle stage, they likely make enough to fund their lifestyle and defer dipping in to the nest egg for another few years. Thanks doing these videos. I have referred many clients to them.

[josephjuno]

Today is my Last Day! I retire in 4 Hours! 🎉 I am not totally ready to Retire for good? I will Begin my Pension Aug 1 2023 and then return to work Part-time in the Fall and work atleast 6 more months? I am Single, 61. So I may begin Soc Sec when I retire Again next summer? Or may delay to let it grow? I hope working Part-time will be easier on me? I. Work Full time and am tired all the time? Part-time may allow me to get more rest and do more while I continue to work?

[maypalmer]

The proclamation of The Gospel of Jesus Christ is the focus of my retirement.
After all, since by Grace, those who have been given the gift of Saving Faith in Him are going to be spending all of Eternity with Him, best to let as many people know about The Lord's Love while we're here!! 😊