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One’s Retired. One’s Not. How to Survive the Retirement Transition.

Rhythm plays a big part in successful marriages when both Partners work or even when one works they have lives outside of their relationship together and these Separate Lives become part of their identity even if one of the spouses is a stay-at-home partner they usually by now have had routines that work really well both in the home and outside of the home and when One retires the Rhythm is a bit disrupted to say to the least it could be a tornado the peaceful Harmony is gone and replaced by some chaos and stress you know it's funny we just started watching a new show on TV called shrinking husband and wife are in the kitchen life's been a stay-at-home she's got a routine she she does rocks what does she do polishes she's all this stuff the husbands I don't know I forget what he is a lawyer or something like that but he's just about to retire and he's in the kitchen and the wife looks at him and says hey look it or more like this hey look it Derek Derek before you retire you need to find something to keep you out of the house each day I've been running this house for 30 years and I don't want my life disrupted and it's funny because his response was no I've been out of the house for 30 years and now I think you need to find something outside the house it's my time to be home that was actually pretty fun it was pretty funny but you can see without some tools this could be a rocky start to the retirement phase right so there's a way to smooth this transition and let's get into some ways that people can do this so that you don't find yourself really in a tough spot and the first way without a doubt is like those two just did communicate expectations well I don't think they did that very well well they started a conversation they started a conversation there's got to be verbal conversation about this you can't hope things are going to work out you've got to say what your expectations are because there's going to be a lot of difference of opinion on what they want to do yeah a lot of change is coming right and you know 50 percent of couples differ on what they want to do in retirement and that can impact them in a lot of ways and even financially so way before you retire five years before you need to start talking about this as a couple right right and even even ask yourself ask your partner as ask yourself first maybe and ask your partner some questions you know what do you dream about in retirement you know where do you want to live yeah how about downsizing do we want to downsize which is a big one yep and if you have kids where do they fit in right and grandkids these are all important issues that you need to talk about as a couple really in the initial phase or pre-retirement would be a great time to talk about it right and I know during our career we had a tough time fitting in date night with the responsibility of the kids and all of that I think date night and retirement's almost just as important if not more important to have a little bit of time to check in well because a lot of people feel you're spending 24 hours a day seven days a week together now there's no real reason to create that special time to check in but we're saying there is and what's our special time we have coffee every morning markets up super early I do not I get up at six and we have about 30 or 45 minutes every morning before we start well you've already started your routine but before I really started every morning we do that and we talk about you know how are we feeling we check in with each other what are our dreams for today this week this month we plan our day it's just it really gives us a chance to always check in which is really helpful for us and maybe that's something you want to try so communicate and communicate often and stay in touch is one big piece another big piece is finances you know finances are an area of disruption in marriages and certainly an area of disruption in retirement who is going to deal with the money matters who's going to pay the bills and do you agree on Money Matters yeah well it's true there was a study we found by Fidelity Investments from 2021 that said 25 percent are couples 25 percent of couples are irritated by their spouse's pen spending habits and relationship with money and that's before retirement right so that irritation enhances even more once you retire because many of you are retiring and you've already built your nest egg and many of you are working with a financial planner which is great so you have knowledge of your finances but when you retire it takes getting used to not having that steady paycheck right and when it stops there are some areas you need to focus on and adjust yeah I mean there's things like taxes your monthly expenses you know do you still need you know all the fancy cable travel plans do we really want to do that big trip or not but you need to save for it right you know downsizing dreaming of a second home you know one of the big ones that our financial planner has really pushed on us is this idea of withdraw stress strategies right making sure that you know before you could just hit the ATM and you know you had income coming in you could withdraw whenever you wanted now it's a little different well also the 401K right Social Security optimizing that when's the right time to do that and having a rainy day fund for unexpected medical expenses right right so okay so the third broad category is establishing boundaries right so this is again this is your bread and butter no it isn't this is again under the big topic of topic of keeping Harmony As you move into retirement right you have to find a way to ex to respect each other's time especially if one's still working and the other isn't you know your space you know one house with two separate schedules potentially if you're retiring at different times you know how you're going to spend your down time you know your TV time your reading time your cooking time yeah because even your cleaning time if one of you is working and you're working from home and one of you is like bound and determined to vacuum the whole house every morning at nine it's just not gonna work you know so you have to adopt each other's schedule you know for me it's important to find a place and a time for a long time time for separate friends outside of the house and all of these need boundaries and agreement so you don't find yourself banging up against each other doing each other's activities it creates stress and you don't need that you know we have friends who are actually clients of ours and she was a teacher and he's run his business a sports marketing firm out of their home for years she was a teacher so she was gone from seven to five every day let's say and now she's home and she's doing everything she's she loves to do she's hosting Mahjong and swim parties and lunch with friends she's taken a cooking class well all of that is happening in their house which is giving her really good fulfillment because she's amazing amazing he's like what's going on but he's trying to run a business in the same space so that's an example of where boundaries and communication really needs to come in you really want to respect each other's activities and priorities and space so you don't again step on each other's toes yeah so that the fourth big category of advice that we have in this in this in this arena is what what is your division of labor now that one of you is retired how do you split the chores who's going to cook who's going to shop who's going to pay the bills this is a whole new conversation I think at this point you can't make Grand assumptions that now that you're retired you're going to do all of that yeah and that's true and the other and I think what you want to make sure you do is do what you pick the things that you're good at and you like to do I love to cook I don't really like to shop well hangout I'm good at shopping I don't love it no but but I'm good at it yeah I'm good at cooking and you love it I do love it you don't love shopping who loves grocery shopping I'll take the shopping over too oh cooking and shopping cooking and shopping wow that's a win for me today here's the other thing and I don't I don't know what it's like in your house but I'm the I'm the guy that fixes stuff yeah so what I don't want to get from Jody every morning is a list of things that have to get fixed home repairs house maintenance car repairs you know there there are things that have to get done your car needs to go in and that's my responsibility I need I need to do it but I don't want a list right to put under my nose every day but this idea of talking about who's going to do what and it's not just about chores and cooking and bills but even who's responsible for scheduling activities who's a social butterfly that's right or me right so I end up doing you know golf dates pickleball dates dinner arrangements travel arrangements and that's fine I do actually like doing those things so that helps us stay in our Rhythm you know in the beginning we talked about how couples find a natural Rhythm that will take them through many years of their marriage and maybe the one that you had worked and worked well but the newly retired person shouldn't get a free ride on being engaged in the Rhythm yeah you know we've we have clients that get in trouble with this because you've got that example on the TV show shrinking uh where you've got someone who's in charge of the house and has her routine and everything's going really well and then the retired spouse comes in and says all right so what are we going to do all day right and they're like well no you do your thing I'll do my thing I'll meet you later for dinner so you have to be really careful you do but the other big thing is this whole idea of one person retiring before the other it's going to create a lot of change in your life and you need to understand that the change is going to come it's going to create friction and stress so if that's happening the right thing is happening you just need to walk your way through it and talk about it the person who's retiring you know the person who retired earlier stayed home has interest hobbies and groups and friends the new person retiring needs to create new interests new hobbies new groups and new friends we think so right because that's the way you build community and you stay active what you want to make sure that you're doing is if one is working and one is retired and the retiring spouse is crushing it in all those areas you want to make sure you're looping in the working spouse so people you know don't feel left out you all of a sudden have new friends and new interests and new hobbies which is awesome but remember to Loop in the working spouse too and I think the other thing is you've got to keep your relationship alive and healthy it's really important when one of these changes takes place that you're dedicating enough time to each other to show you care about them you're concerned about them and you love them back to your point on date night don't I do that well you do you always feel loved I do oh good good so look retirement is something we all look forward to and we deserve to find ways to make it the best years of our life and we really want to be able to live in harmony with our partner and if you've just retired or it's coming up soon make sure to follow some of our advice here and importantly make sure you're starting to talk about this phase of life with your partner or spouse to share your dreams and aspirations now if you enjoyed this video check out this next one the truth about early retirement what they don't tell you this is a great video we talk about the endless opportunities that exist and you aren't getting any younger now might be the right time to retire so check out this video next

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Type of Friendships in Retirement and Why They’re Important

you have heard us talk about the importance of relationships in your life as you age and today we're going to specifically spend some time on friendships because the reality is as human beings we all need good healthy connections and at this phase of life in retirement it's probably even more important than ever before and really really new research is coming out showing so many benefits to healthy relationships and friendships in your life lowering your risk of depression uh feeling a little more satisfied with your life you know the other thing that good healthy relationships do is it improves your longevity it helps you with cognitive function in Elder years right I know that and it gives you me us a sense of belonging so it really is important to have good friendships you know in our your retirement game plan course we help clients differentiate the types of friendships they currently have in their life and the types that they want we have them put them into buckets you know invest and grow maintain even fade and dissolve and that's an important exercise for our clients it is and when you think about your different types of friendships in your life you can determine how much and what types of Investments you're going to make there's a great book that we both just read by Marissa Franco called platonic how the science of attachment can help you make and keep friends and she goes on to say that these mindsets and behaviors are going to help you develop new friends and keep relationships healthy and long lasting and the first mindset is what um initiative initiative right because initiative really ignites the Friendship if you think about it right and she talks a lot about taking the initiative in your friendship and once you have friends you have to be authentic you need to be vulnerable both of these are going to help you sustain Relationships by allowing us to show up as our true selves and then you know getting into generosity and affection to deepen your friendships you know verifying to your friends just how much you love them yeah sometimes you surprise people by saying you should and we should put this we will put this book in the link because it's a great read if you really and it's it's all over the internet now it's being talked about a lot so definitely put the link in there but let's talk about the eight really different types of friendships right yeah well the first type I guess who would call best friends you're my best friend right you're my best friend right we all have best friends these are the strongest most intimate probably the most important friends in your life you talk to them all the time you love spending time together and these friendships stand out in your mind and heart and these are the people you can be honest and vulnerable with right especially without any fear of being judged right these are the people that create that space for you yeah my dad always had the saying if you can count the number of best friends on one hand you've got a full life yeah that's interesting I never heard him say that not two hands one the second group of friends are your social friends right these are the people that are just fun to be around you spend a fair amount of time with them when you're in the mood to really socialize and have a good time often especially for you they pull the extrovert out in you because you're naturally an introvert I am but your social friends really pull the extrovert out in you they make you laugh you create memories you know they're couples maybe you go to dinner or play golf or pickleball with yeah you know for us being down in Florida now in the winter we really went out of our way this past winter to meet new people and we did it by meeting couples playing golf really a lot of social neighborhood uh friends we really went out of our way to meet new people and it really has helped us a lot and and finding the kind of people we want to hang out with so you have your best friends your social friends and the third one is well you came up with this low-dose friend right so people you like to take in low Doses and you know it's okay it is okay maybe you want to see them once a month they're still friends but but you know it's not always like just all fun all the time maybe they have different Lifestyles um you know you can take them and their personality in small amounts and you don't and I think that's good yeah but I think low dose I think a low-dose friend is important to have you can still get you know it's still a friend yeah a good amount of social connection there you know the fourth the fourth uh category is group friends you know people you share friends with in kind of a friend group you know maybe you don't see them often or you don't see them on a regular basis or even one-on-one and if you or they weren't in the group maybe you wouldn't even be friends you know it's more of a Social Circle so here's what I'm thinking if you got this group friends yeah within the group yeah you can have best friends good friends low dose friends and there might even be a toxic friend or two in there because the group friends friends bring their friends along so it's not it's not a group of friends oh it's not it's actually a category called group friends like we went to play Pickleball every Tuesday and Thursday right and those people that we saw there if you saw them at the grocery store or maybe at the movies you might not even recognize them you only really recognize them as part of the group why am I struggling with this I don't know but you are let's move along okay what do you think what about situational friends and you talked about this all the time because the greatest example of situational friends I think are work friends right that's another whole category but situational friends are friends that are confined to certain circumstances I mean it could be pickleball friends it could be dinner friends um it also could be relatives in-laws so so I'm thinking these are people like if you went to a Big Ten school right you went to Penn State or Ohio State or Michigan these are friends you see at that one tailgate every year okay and it's situational based on you're connected in a meaningful way around a certain situation around this cat I do and I didn't go to a Big Ten school but my kids did and I know that they have this type of friendship well I the the best example for me are work friends which is really they are situational and the thing that you and I both found and it is a whole nother category too it is because you can get best friends out of work of course but what happens is at work you're with them every single day they're your work family but when you leave your career you do leave many of these people behind and you just have to be prepared for that right we've done other videos on this and people's comments are like I never thought about this and you're right I really did leave a lot of people behind and that's hard it is hard but work friends are unique because you do spend so much time quantity of time together may not necessarily be quality but it is quantity at times all right so the seventh type of friend that we came up with is lifelong friends these are you and me nope these are childhood friends or high school friends or college friends friends that you may grow apart with but then you stay connected around holidays or there's something unique about the friendship and they've known you through many stages of your life I have nothing to add I think you covered that really well good how about this one life stage friends so growing up you have high school friends you have college friends when you first get married you meet other young couples who are married trade I should have Kit if you have kids you meet other parents of kids so these are life stage friends right and for us now in retirement we are finding and this is what we did this winter we really went out of our way to talk to other retirees who are in the same boat we're right they're all looking investing in retirement life stage friends yes they're all looking to do that right so anyway I think that was good so those are types of friends now we want to talk a little bit quickly about the types of friends to avoid yeah because the ones we just spoke about are actually types of friends that add to your connection and you want to investigate absolutely but there are groups of people that you want to just fade and dissolve and just you know call them up and say hey we're not going to be friends anymore but these are the kind of people we want you to think about in your life and does it really make sense to keep continuing a relationship because they're not always the best but one one kind of friend is a one-sided friend yeah and and you know we all know this kind of friends where you do all friend just kind of just sits back and takes and if you still have a good time it's okay but you know maybe you need to have a chat with them like hey why don't you guys plan the next time we go out to eat because I think that's that's important well at the end of the day those types of friends can ultimately deplete you they can if if there's no reciprocation right I guess another kind of friends to think about whether it makes sense to continue with are friends who you are ambivalent about you know the opposite of um uh the opposite of Love is in hey hey what is it ambivalence you're indifference indifferences typically these big words I struggle with but if you are indifferent about the people or ambivalent then maybe you shouldn't be hanging out and really you know an ambivalent Fringe you know these are people that you sometimes have a lot of fun with and other times you know they leave you feeling awful you know many people think toxic relationships are the unhealthiest but those are sometimes easiest to spot right you know really these ambivalent relationships are more draining and I think the point here is is the reason we wanted to cover this is that you want to make sure you have enough time for the friends who are important so if you have other friends in your life who are maybe dragging you down then you need to think about where to invest your time and these are just good things to keep top of mind right so there's you know um there's codependent friends um you know maybe need to put some boundaries in place there's toxic friends I mean these are the ones that really you and I you know we're doing a much better job figuring out how we're going to deal with people that when we're around they just suck the energy well you know what's hard about toxic friends at this stage of life is sometimes you have a couple right and you guys might all have couples where you know you as the wife are just really connected to the other wife and they are really a good positive healthy friendship but maybe the husband is toxic or vice versa and you know they make you feel bad about yourself and sometimes they drive wedges in between you and other people and it's just it's just really hard to be around well the last kind of friend category came up with fake friends what is a fake friend well people who call themselves friends and you know this kind of feels a little high schooly but um it happens throughout your whole life right people who call themselves your friends but they're not looking out for your well-being they're constantly putting you down okay they're talking about you when you're not there they never make you feel welcome right they kind of laugh the qualities qualities that good healthy friendships have like loyalty support and closeness yeah because we all need good healthy absolutely that's right that's the point of this video today is to talk about that and you know at this time of life with friends this really feeds your soul it is the time to feed your soul yeah for sure so we hope you guys enjoyed this and if you did enjoy this video look at this next one invest in your friends in retirement the importance of having honest and trust with your friends and we also give you tips for creating or growing your Social Circle so watch this video next

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The Truth about our Early Retirement in Bali

at one point or another we've all dreamed about 
what life could be like if we could spend our   time doing whatever we want whenever we want 
maybe it's vacationing to all sorts of exotic   places maybe it's lying around on the beach 
all day reading perhaps we'll finally pick   up that hobby we've always admired for many 
of us that sort of Freedom happens when we   Achieve Financial Independence and retire and 
that's exactly what we did I'm Jean that's my   husband Vitali we're in our late 30s and in July 
2021 we retired to Bali Indonesia we get a lot   of people questioning our early retirement with 
comments like you're too young to retire isn't   it boring but the truth of our lives in Bali 
could not be further from what people think our   retirement lives alike so today I thought I'll 
show you the raw and real deal with us here in   Bali by taking you through a typical week in 
our lives here I want to give you an honest   standing of the alternative lifestyle we've 
designed for ourselves at a relatively young   age so you can consider how you are designing 
and planning your own life your own retirement   the options you truly have at your disposal 
and what really might be the best fit for you   hello most days here in Bali starts slow and 
easy we wake up early have morning tea quiet   time maybe a little meditation or journaling and 
we check the self conditions actually to maximize   each day's potential usually the night before 
I would have already planned off the to-do list   and the structure for today's activities and now 
looking at the surf forecast now it's too high for   surfing in the morning so that I'll just have 
to wait till later today in the meantime this   is a great moment to head over to our Pasa 
to pick up some fresh supplies so let's go the meat and chicken ladies closed shop by 10 30 
am so it's best to hustle over there early [Music]   a lot of our freedom retirement life here in Bali 
is also eating well and staying healthy and after   more than a year of living here we've actually 
settled into the pattern of trying to have at   least one home-cooked meal a day we absolutely 
love eating out and eating local here in Bali   especially street food like this what did you 
buy I buy Mullen right banana so everything obviously it can also be really calorific 
and high cholesterol home cooking gives   us the freedom to go more plant-based or 
alternatively for Vitali to enjoy creating   his barbecue Delights very conflicting I know but 
really food is one of the main joys of life no so we've got fruits and vegetables and meat 
for us and bones for the doggy so now it's   time to go back off home but first we make 
another stop [Music] yeah so the pastries   here are really really good so we come here quite 
often to pick up something quick for breakfast so we don't actually work any kind of salary 
employment or do any business here in Bali   instead our living costs here are covered by a 
modest amount of monthly passive income hence   our categorization as technically retired 
if you're interested in the financial side   of things to our life here we actually made 
two videos about it so once about our monthly   living costs here and the other one is about 
how we actually reached retirement I'll link   them down in the description below if you want to 
check them out anyway so the beauty of our setup   here is that our time is actually free from the 
constraints of having to make money for survival   and we get to choose what to keep busy with and 
it's completely not about lazing around every   day doing nothing that gets old really fast it's 
an amazing feeling to you know keep busy and be   productive every day with stuff that you actually 
truly believe in and one of these things for us is   the weekly Youtube upload commitment so Vitaly 
and I started this channel like over two years ago   and for the longest time now it's been 
one video every week every Saturday and   sometimes it's about what we do here 
in Bali like a little live update and   sometimes it's about some thoughts 
that I'd like to share with you guys   we are starting work on a brand new video this 
week so right now it's going to be script writing   for me for the next two to three hours I usually 
work way in advance so I already have my idea   all set up I just have to articulate my thoughts 
around it and think about how to execute the shoot   whilst I'm doing this Vitali is often on his 
guitar or busy with his other responsibilities   he's often managing our rental properties 
and solving small issues that crop out with   the tenants here and there remotely from Bali he 
also spends a lot of time learning new technical   stuff on YouTube and skillshare because that's 
his areas of Interest photography videography   Etc right now with the tide dropping it's just 
about the right time for us to start heading   over to the surf so it's time to pick up Bali 
is our Dream Paradise particularly post Italy   and I both love surfing and it's a luxury to 
live in a place with quality ways like Bali   has and we try to get as much of it as possible 
if not every day then every other day at least okay super nice there are some ways available 
we're gonna suit up and head in the thing is   kind of our daily sport but it's also 
actually something we really love so   to us surfing is not just about exercise 
it's kind of like an art and both Vitaly   and I want to progress in it it does take 
up a considerable amount of time though   between traveling to the spot checking 
for good conditions surfing getting a   coconut to rehydrate driving back showering off 
that's at least three plus hours of each day foreign [Music] all right now so it's a couple of days later 
I've returned a halfway decent script after a   few rewrites that I'm actually happy to 
go shoot with so today is lights camera   and action this usually takes a couple 
of hours or so depending on the type of   video and I need to look tidy so usually 
shoot days are never surf days instead we   usually couple it with errands that we have 
to run there's always stuff each week that   requires us to venture a bit further out of 
our quiet Village Life into more civilization right so now we are at the Bali art supply 
store it's actually a great little place   for arts and crafts Hobbies you know if 
you need supplies they have got a lot   of things especially for watercolors 
acrylics all sorts of painting really   we've got a lot of really great stuff here but 
they actually also sell this stuff off tokopedia   right okay so now we're done here and it's off 
to the next stop this is one of bali's home   renovation Mega stores our bathroom tiles need 
replacing so we checked out some options [Music]   on the way home this is one of 
our favorite stops for lunch so I'm not having rice today but 
this is what I've got another nicely Nasi champor is like the best deal here ever of 
living here in Bali or in Indonesia in general I   mean it's cheap it's always tasty and you know 
you get to choose what you want to have it's   like really easy to go vegetarian or like just cut 
out the meat and yeah super awesome after if I'm   feeling energetic and in the flow I'll set up the 
easel and go outing for a little bit good morning   so now the shoot's all done and for this next 
few days it's just going to be production time editing color grading adding music usually   takes about three to four hours 
each day until the video is done so we love living close to bali's Nature 
it's one of the biggest privileges of being   here in Bali so we keep the house as open 
as we can most of the time but that also   means it gets really really dusty plus 
doggy runs in and out as she pleases so   we do have to clean every day there's a lot of 
upkeep required for the house and the garden so living like this also means we can take 
rest whenever we need and usually this is   just taking a day out of our normal swing of 
things where we can just unplug and stop going Sam Dogan also known as the financial Samurai 
turned living like this fake retirement he himself   stopped working full time since 2012 but after a 
year of the traditional doing nothing retirement   he got bored and he went back to keeping busy with 
his family his Finance website writing books and   managing his Investments including investments 
into art through platforms like today's video   sponsor Masterworks if you two are retired or 
planning for that Investments invariably form   part of the picture in the U.S most Americans 
now believe they need 1.25 million US dollars to   retire comfortably a good 20 up from last year 
traditional investing has been far from enough   with the stock Bond portfolio that Millions rely 
on down 34 this year if you're worried know that   historically in times like these professional 
investors seek out real assets because they can   still deliver gains and help fight inflation not 
just oil gold or real estate but also Fine Art   while stocks and bonds are going down the average 
artwork is selling at auction for 26 more than   this time last year outside of 2022 investing 
in art has outpaced the S P 500 over the last 26   years by 131 obviously for most of us investing in 
art has always been a tad Out Of Reach I certainly   can't spend three million dollars on a painting 
but luckily there's Masterworks Masterworks   allows us to invest in multi-million dollar 
artwork high-class paintings from legendary   artists like Picasso and Banksy for a fraction of 
the cost in 7 out of eight sales Masterworks has   delivered over 17 net returns to their investors 
over 550 000 people have signed for Masterworks   and as the economy tumbles there's a growing 
wait list but my subscribers can get Priority   Access using the link in the description people 
have pushed back saying that living like this   isn't truly retired since we're still doing 
some sort of work and getting money in return   I disagree I think the point of our retirement is 
not that we can sit around and do nothing all day   long but that we have the freedom to choose 
what to visit ourselves with and if some of   those Pursuits happen to bring in extra money 
it's not a necessity but it is a nice bonus   the point of our little body life is we chose an 
alternative lifestyle design we chose to content   ourselves with a simpler more economical life 
here one that may even seem perhaps a little   poor or name to some people but it allows us the 
freedom to pursue what we believe in to learn new   things and to live each day slowly with gratitude 
and spend time with the people we love every day   because these are the things I won't want 
to miss out on or defer to much later in   life because having all the free time in the 
world will be pointless without all these   I've always wondered if the traditional retirement 
that Society paddles to us is a bit of a mirage an   endless and aimless vacay gets old pretty quickly 
for many people and Truth yet that is the very   same picture of traditional retirement that's 
painted for most of us to hold in our Mind's   Eye whilst We Trust through layers of toil and 
endure unfulfilling work to reach that Promised   Land then sadly the reality of traditional 
retirement pans out differently for many   people these same people who spend most of their 
lives working so beautifully and will have been   conditioned to live their life around work as 
their dominant priority they never took time off   to develop themselves or develop other interests 
outside of work work was all they need work had   become their identity their purpose in life and 
their social network and in retirement these very   same people often seem to become lost lonely blue 
some even find a way back into a retirement job   personally I thought the whole thing looked a 
little bit like a sub-optimal trade-off and a   lousy lifestyle design after all you can never 
get that lost time in your life back can you   I'm just so grateful that Italia and I achieved 
this together earlier rather than later in our   lives and there are fake retirement in Bali 
is as productive and meaningful as it is to us   I will forever want to be spending our lives 
this way this is a life I will never want to   retire from in the traditional center of the 
world I've learned that it is a misconception to   drive towards unlimited Freedom with our time it's 
really what we do with our free time that counts   if you're still striving out there you may wish 
to consider redesigning your own life to optimize   it to serve you better in the long run I believe 
that by making more conscious choices about how   we want to use the time in our life and how we 
truly want to live we don't need to wait until   retirement to live closer to our true selves 
we are all definitely different people with   different perspectives and priorities so so I know 
my choice may not always be the same as what you   will achieve but I'll be very interested to know 
what you think of our design for life and your   ideal plans for your retirement so let me know 
in the comments below I would love to hear it   thank you so much for watching today's video 
and I guess I will see you next Saturday bye [Music]

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What Do You Do With Yourself After Retirement? – Dr. Devi Shetty with Sadhguru

Devi Shetty: Sadhguru, I am constantly torn between my senior colleagues, who are extremely skilled surgeons. Sadhguru, the… on the heart there are some procedures, which are done by very few people on this planet. I’ll give an example – I do an operation called pulmonary endarterectomy that’s the blood clots from the leg goes to the lung arteries and it clogs up all the arteries. So twenty… twenty-five years ago there was no cure for this. And once you are diagnosed, you are destined to die within a year. Today people who are on home oxygen for two years, three years you do the operation they can go back to skydiving or they can go to scuba diving. That’s the transformative effect but there are only fifty surgeons less than fifty surgeons in this world who can operate. And like this we have some of my colleagues who are extremely gifted surgeons. They are in their fifties now.

And some of them are constantly talking about retirement. Especially one surgeon he is a extremely gifted surgeon who can fix any damaged valve. He is single, he has no other commitments every other day he talks about going to Banaras or somewhere and retire and I keep telling him that God didn’t create him to retire and meditate. He has to be fixing all these problems So he gives me extension every six months Guruji. So at the end of six months the usual rigmarole starts, he talks about retirement and everybody is depressed in the hospital. So how do you deal with this kind of people? Sadhguru: You must you must give him a one year sabbatical with me Yes, because the need or the idea of retirement enters anybody’s mind because of the monotony of what they’re doing, whatever it may be. Somebody else may think it's a great thing but in your experience somewhere it's becoming monotonous or stagnant. Stagnation is one thing that human intelligence and human system cannot take. And most of the ailments are because of stagnation stagnation of life.

They may be… they may be getting their you know once in three years promotion. They may be making little more money. All these things may be happening but somewhere experientially there’s a stagnation, which could be a major cause for many of the complex ailments that people manufacture within their systems. The more complex they get you try to create more talented surgeons. I am saying we are manufacturing the problems, we are trying to manufacture a solution. I think as we offer solutions people who have adl… already gotten into problems, they need solutions. But it's very important that we teach people how not to create these problems, so that instead of fifty, you have to produce five thousand expert surgeons to attend to all these people who are on self-help to illness. So I would say a surgeon who is who has a certain competence and who has worked through his life, if he wants to explore something of his own nature, that will be the greatest thing to do because he is not a man without commitment nor competence.

When competence and commitment is there, you should not run him through the rig ram role (rigmarole?) and destroy that possibility. It’s important that he explores something of his own nature, which will make him We don't know what he’ll come up with. You cannot even estimate what he may come up with. I think a sabbatical is good. He may come up with something that you have not thought possible. Devi Shetty: I will… I will convey your message Sadhguru. I am sure he is watching this program.

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How I retired at 38 to live in Bali – 5 Money Concepts that helped me get there faster

Hi, I’m Jean. At the age of 38 years old, 
I retired and moved with my husband to the   island of our dreams, Bali. Our passive income 
covers the relatively modest living costs here,   so we don’t need to work a 9-5 or any kind 
of salaried employment, but we keep busy   with stuff that’s meaningful to us. Surf, 
painting, music, Bali dogs, making videos … For the friends who have been 
with us from some time back,   you’ll know my back story but for those who don’t… once upon a time I was an unhappy Big Law 
corporate lawyer and after almost 7 years I   quit and got off that hamster wheel.

If you wanna 
check out the details behind that here it is. So many of you have been curious about how did 
I go from then to our present life in Bali.   There are so many misconceptions, like people 
thinking I quit law and to replace my lawyer’s   income I did YouTube – that’s absolutely not 
the case – and people thinking that between me   quitting and us ending up here in Bali, being able 
to live simply but comfortably without working,   was a quick and easy transition – 
again, no it took us years to get here. The early retirement formula is generic, 
isn’t it? Make more money than you spend,   then grow your wealth to hit the 
target retirement income you need. In my case, we didn’t actually make big money,   but because our target retirement 
income goal is so modest,   with planning and discipline, we still managed to 
make it happen within a matter of about 4 years. So how did I make money? Well, after I quit, I 
didn’t have significant savings and I needed to   replace my lost income.

My dream was to live on 
a beach somewhere, surfing, so I quit my big law   job. But all my official livelihood skills, law, 
compliance, blah blah has zero relevance to my new   direction. So, to get to my dream life, I moved 
somewhere cheap to live – Vietnam, and I started   re-skilling myself. I spent a couple of months 
training, took exams and got certified as a surf   instructor. The day after I got my cert, I walked 
down the beach where all the surf schools were,   and – I remember this so clearly – 26 rejections 
later, I got my first job as an in house surf   instructor at a nice resort. Yay – my first 
new alternative income stream in my new life! So of course, the pay is peanuts compared to 
my lawyer’s salary, but fortunately the living   costs in Vietnam was so affordable that it was 
still easy to live comfortably.

I spent the next   5 years traveling Asia, surfing, teaching, and 
picking up more skills and certifications. Yoga,   zumba, personal training… I taught language 
classes. I did freelance remote legal and   compliance work assignments. I worked part time 
as a guest relations manager at a high end resort.   Along the way, I started 4 businesses. I sold bean 
bags, I sold luxury Brazilian swimwear, I started   a yoga studio…. Heck, in between when I had to 
return to Singapore for some time for personal   reasons I even went back to a corporate stint for 
a while. Finally, after I met and married Vitaly,   we started the 4th business together, a 
boutique surf school in Vietnam that did   quite well. The starting years were slow going 
but with time, momentum really picked up. What about spending and expenditure? From the moment I quit the law, I knew I had a 
long road ahead, so I reduced my expenditure to   only basics and essentials & switched into 
full on savings mode.

If you’ve tried it,   it’s just so immediately clear that society’s 
just been peddling us the wrong message all our   lives – things clearly don’t bring happiness, it 
is great experiences that make for a good life.   Ain’t nobody got time for fancy clothes and 
branded things when there was good surf and   adventures to be had. And living light 
and minimally means spending very little,   which means any extra money can 
be saved, and put to investment. Vitaly’s and my happiest times was always 
when we spent summers in Bali surfing,   so then it became our dream to live in Bali 
permanently.

But it was hard to abandon an already   profitable business in Vietnam and we didn’t 
want to have to take up 9-5 jobs to be in Bali.   We aren’t ready now as rookies to start new 
businesses in Bali that would require deeper   capital injections with the uncertainty of 
return as well. So then it seemed the answer   is to try to get enough passive income so 
we can start life here without much risk. We knew from experience that our 
monthly living costs in Bali would be   about 1,500 to 2000 dollars – if you wanna 
check that out in more detail go here.

So $2000 became the target to hit. With that 
in mind, we committed to saving and building   wealth in a variety of ways. We’re no financial 
wizards, but we both have a conservative stocks   portfolio – mine is mostly US growth stocks, 
some cryptocurrency – I personally find that   very volatile so its only a very small fraction 
of my holdings, and finally, rental property. It came as a surprise to us 
ourselves, but within about 4 years we   actually reached our goal for passive 
income. Maybe that’s not surprising to you,   given how modest our goal was, but for me 
it was a total surprise! At the same time,   the pandemic meant that our business in Vietnam 
had came to a halt, so there wasn’t anything   holding us back anymore from acting on our 
dream and moving to Bali so… here we are! With all that said, if you were to 
take something away from our story,   I hope it would be the following 
realizations about money and retirement.

First, if you want to do something similar, 
I think the most important thing is to   first have a specific and realistic plan and 
understand the money you need to achieve that. Having a specific target gives you 
a number to work backwards from   and this was absolutely crucial in us reaching 
this target within only a matter of years,   as opposed to grinding away indefinitely, 
chasing an undefined point in the future.   We’ve all have been so groomed by society to 
have this guilt complex about not working,   we feel bad if we’re not constantly striving, 
but if you don’t set an actual reachable point,   you might never move from the striving part to 
the part where you actually retire and enjoy life.

Second is to understand that the power of each of 
your daily little actions and choices compounds   to something amazing over time, and to use that 
in building your wealth to achieve your dreams. So living a minimalist lifestyle comes pretty 
easily to me and Vitaly – we’ve built our lives   around activities we love as opposed to 
accumulating things which we can’t carry   around with us anyway whenever we travel. 
We’re easily contented with great food and   comfortable lodgings, even if it isn’t posh or 
luxurious. And we’re quiet introverted people,   so we usually live away from cities, which also 
means we’re not constantly being bombarded with   advertisements and temptations of “You only live 
once!” and “buy that so you can be happier”. I know it can be challenging, especially if 
you live in fast paced urban settings and   you’re a big fan of social media. 
There’s always pressure to spend.   Temptation is always there to impress others 
with your success or …. keep up with the Joneses,   or grab that takeout because you don’t 
have the time to cook your own meals. But the next time you’re reaching 
for an overpriced Starbucks latte, or   more clothes you don’t need, or that 
branded watch to add to your collection,   you might wanna pause to consider whether the 
instant gratification of those purchases is worth   you delaying reaching your dream life by another 
couple of hours, or days, perhaps even years?   This is the eternal struggle right? 
Constantly having to choose between   instant gratification vs attaining FIRE – 
financial independence early retirement.

Third is to make good money by 
working smart for sufficient value.   This whole model only really works if you are 
able to generate income sufficiently in excess   of your expenditure so you can save and invest 
and accumulate and compound quickly enough. If your sole income stream is working a low 
hourly wage job its going to take a long time   before you get anywhere. I personally believe that 
we all need to create multiple income streams in   today’s world, if only to hedge against job loss. 
And whatever you choose to do, work hard but work   smart too. Make sure its something in demand by 
others, do it well, and get paid well for it.   When we ran our business, we actually 
charged more money than our competitors,   but we provided far better quality, and 
people were always happy to come to us.   Instead of just being a yoga instructor 
teaching classes, I created a brand and   registered a yoga business myself, which meant 
I could harness other instructors and canvass   for big events and projects etc. and bring in 
revenue on a bigger scale. You get the idea.

Fourth is to educate yourself 
on financial management. I never learnt about managing money and 
growing wealth whilst I was lawyering away, cos   I was too busy and my fat paycheck every 
month made me think I don’t need to grow   my wealth in other ways, cos heck, I make good 
money! But then that means once I quit my job,   my only income stream, my salary, was lost and 
there was nothing else other than that. Not great. We all need to know about money. How to make it, 
how to manage it advantageously, how to grow it.   Even if you love your job and want to 
work at it forever, there’s no telling   one day you may lose it. So we all need 
to know this, and its shocking that they   don’t teach this at school and you have to 
learn it yourself on your own initiative. Books are great as a starting point to learn about 
managing money and growing wealth.

Financial news,   world current affairs and stock market 
developments affect your investment portfolio so   you must react accordingly, or at least it’ll 
just help you avoid scams out there. There’s   many amazing Youtube channels out there that 
discuss personal finances and investments which   I myself keep up with and find really useful…. 
I’ll leave some of the books and Youtube channels   on finance which I like down in the description 
below, if you’re interested to check them   out. Knowledge is power, in this case, the power 
to help you reach your dream of retirement faster. Five is that our story in particular couldn’t 
have been possible without the advantages of   what they call geoarbitrage, 
or international arbitrage,   the concept very clearly summarized in the 
following quote by Tim Ferriss’ – Fun things   happen when you earn dollars, live 
on pesos, and compensate in rupees.” This wasn’t an intentional part of our 
retirement plan but it certainly was   a huge advantage in speeding up our 
journey to reach financial freedom.   But arbitrage is simply the concept of taking 
advantage of different prices in different   markets – it doesn’t necessarily mean you must 
uproot your entire life to live overseas if you   don’t want to.

It could be as simple as simply 
changing neighborhood in the same city or moving   from city to suburbs to lower rent & 
grocery costs, sometimes even local taxes. I hope my story has given you some food for 
thought and hopefully some inspiration regarding   your own personal hopes and dreams. All of us are 
so different, and we all have our own dreams and   amazing life visions to pursue. I hope what 
I shared today can help you a little more   in getting there. And remember that, whichever 
chapter of your life story you’re in currently,   don’t forget to enjoy the journey whilst 
you’re working your way towards your goals. Thank you so much for watching and for all your   support. If you liked this video 
do subscribe to join our community   and stay tuned for more of my thoughts on 
life in bali, early retirement and more. Speak to you next Saturday, bye!

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6 Retirement Essentials (Most people only prepared 2 or 3)

I'm planning for retirement most people focus 
mostly on marshaling together enough money you   know Financial Resources so that they can last 
the distance and then maybe at the back of their   heads they have some vague plan right perhaps 
two or three things to fill the time with a lot   of the times this is stuff like travel family 
well unfortunately I'm gonna say that's not   quite nearly enough for Preparation we ourselves 
have been retired for two years and going looking   back on the past two years I kind of see like 
six essential things that if you prep for it   beforehand before your retirement starts I think 
this can really make such a positive difference   to your retirement so that's what I wanted 
to bring up and discuss with you guys today   number one first and foremost of course we have 
to talk about money most people's concern is the   amount of money that they have in retirement 
whether it will last them till the end come   comfortably and allow them to afford the Hobbies 
like travel good food Etc but I actually think   after going through the last two years building up 
our financial Acumen is just as important if not   more so what do I mean by Financial Acumen I mean 
stuff like budgeting tracking projecting investing   I mean if you think about it the money in your 
bank account can always be squandered we all   know that story I think more importantly what's 
going to make your retirement more fireproof is   having an ability to generate more money where 
it came from in the first place so the second   essential thing that you can prepare for so that 
you have a wonderful retirement it's definitely   the ability to be self-directing and disciplined 
self-direction definitely helps so much with   spending your retirement days meaningfully right 
after all there are no more like work schedules   or like demands from colleagues or bosses to help 
shape your days anymore you have to be the person   to take charge in retirement there's a study out 
there actually that shows that for happily retired   folks most of them actually have about 3.6 core 
Pursuits that's what they say and the unheably   retired folks tend to have less than 3.6 corporate 
suits coming in at about 1.9 call Pursuits that's   what the study reflected I guess it kind of just 
shows in retirement you really need to fill your   life to the brim and keep busy with activities 
you love and that is a really great formula for   happiness and self-direction will help you 
to achieve that state as well as discipline   because if you think about it like discipline 
directly affects the state of your finances right   it affects whether you stick with your retirement 
planning whether you keep fit and active and you   get to maintain your health in retirement even 
whilst you're left up to your own devices even   to find your cover suits if you don't have any 
when you're starting or in your retirement so   discipline and self-direction will be like 
the building blocks for enjoying your life   in retirement the third essential thing you might 
want to work on and cultivate or happy retirement   is people skills right so studies and research 
have reflected very consistently that the main   determining factor for happiness and Longevity 
for most of us is actually relationships Human   Relationships friendships relationship with 
your spouse and with your family I guess if   you look at most of us you know we all have 
a little need of work on some social skills   in some aspect I mean some of us are a bit shy 
paper hats or graph or maybe socially anxious   working on our people skills really will help us 
to get along and live happily with our spouse and   family members and also importantly to make 
new friendships at whatever age we all know   that making new friends gets a lot more difficult 
as we get older I mean I haven't heard anyone say   otherwise for me personally making new friends 
as I get older is the biggest challenge there's   this huge feeling that nothing can replace 
friendships with people who have known you   all your life but it is also a challenge as I 
have chosen to exercise through Arbitrage in   our retirement and we've moved away from home 
so those friends aren't with us in our present   I find that it takes a lot of intention I have 
to consciously push myself to broaden my Social   Circles and make the effort to get to know people 
on a more intimate basis I am also very happy   to be able to say that it has paid off in that for 
the last two years in Bali I have actually made   two or three new friends that I'm happy to say are 
kindred spirits and not just social acquaintances   so that's very nice and it's a huge Comfort to our 
daily life here in a foreign land away from home   now before we move on a big thank you to 
Mumu Singapore for sponsoring this video   Singapore is an online trading platform for 
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just for using the Momo app so if you're actively   investing anyhow I recommend checking out the 
MooMoo ad using my link in the description below   now back to the video the fourth essential 
thing that you can definitely work on and that   will benefit your retirement tremendously it's 
actually courage you're definitely gonna need lots   of courage in retirement and I guess this isn't 
a skill exactly it's kind of more of a quality   but in retirement you need a lot of courage 
to even plunge into retirement you need the   courage to you know take that leap of faith to 
stop putting it off due to fear of the unknown   feel or financial insecurities so then it's all 
about courage at that stage not let fear and   insecurity rule your life and your decisions it 
is also the courage to recognize that in life at   the start at the end in the middle the Domino's 
you need are never all nicely lined up you know   at some point you just got to jump into it and 
then learn to cross the obstacles as they come   so for retirement long term I guess the 
biggest issue most commonly is always money   but my perspective on this is that hey budgets 
can always be reduced money can always be earned   or recouped or whatever happens so I still 
think that you know it is actually beneficial   to Advocate an approach whereby you get to 
a point where you feel that you have most of   your Ducks lined up you've planned well you've 
prepped for it grab hold of your courage with   both hands and then take the plunge people tend 
to think of retirement as the end but it's not   it's the start of a new phase where you should be 
trying so many new things new Pursuits new ways   to live and for each of these new adventures 
you're gonna need courage to take action and   once you have taken the plunge you'll find the 
next fifth thing very very useful and that would   be a mentality of resilience especially in early 
retirement there are a lot more decades ahead of   you you know and therefore a lot more chances that 
they things can go wrong whether it be down to bad   financial planning or perhaps an unexpected Health 
catastrophe or even sometimes natural disasters   whatever comes I guess you will always need that 
strength of Will and the resilience so that you   can roll with the punches and then get back up 
you want to know that you have the mental strength   that even if things go pear-shaped you won't just 
give up and lose hope and certain Corner you've   got to Marshall what you've got inside you go out 
there find Solutions perhaps if necessary you've   got to go back to work but know that later on 
you can return to retirement and try again so the   sex essential thing that I believe will benefit 
everyone in retirement is to cultivate an attitude   of gratitude we all know life is a very long 
journey hopefully at least and so much of what   we Chase using most of our years actually doesn't 
really matter in the big picture once you have   taken a step back and then at that point is when 
you start realizing the earlier you cultivate and   attitude of gratitude and that appreciation for 
the simple little things that are probably around   you everywhere every day the happier you probably 
will be and it sounds silly but it's not really   automatic I mean we all live and grow up and 
work and go to school in a society that kind of   innovates us with messages that we need to reach 
for more have more ambition gives us you know that   High definitions of success in life that we 
have to try to jump to reach and nobody sings   the Praises of the pleasures of a simple cup of 
tea you know the importance of family time with   your loved ones or or just the pleasure of being 
able to take an evening walk on the beach with   your dog so I think that it's very important that 
somebody reminds you that you know you can not   overload what you already have what you're already 
surrounded by growing that muscle of appreciation   so that in each and every moment you are present 
in your own life you see all the little Joys that   you're surrounded with every day and if you 
live life like that I think that will help   you achieve contentment with just the small stuff 
around you and that's what majority of your life   in retirement may be about is just a small stuff 
every day but in my own retirement here in Bali it   is what makes me so grateful and so happy every 
day that I am surrounded by my loving husband   and very interesting and independent little dog 
that's very very cute you know that we have very   comfortable a bit simple house we have the ability 
to enjoy good food even if it's simple stuff   from the war rooms locally we have a garden and 
beautiful things are growing around us every day   the weather is great you know stuff is good yeah 
I think this is one of the most essential simple   things that's often overlooked simply because it's 
a matter of mentality but I believe this essential   quality or characteristic could make all the 
difference for you so these are the six essential   things that I believe are very very important for 
you to cultivate and prepare for in the leader to   actually taking the plunge into a return then I 
think that if you have these six strong skills and   qualities going for you you will be in a position 
much more well placed to make the best out of your   retirement however long that period may be let me 
know what you think of my suggestions whether you   agree or if you think they suck let me know why 
but in any event I really appreciate you tuning   in and sharing my thoughts for this week and 
wherever you are in the world I'm wishing you   a happy Saturday evening and let's speak again 
next week till then you take care and bye for now

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Single Retirement (7 Tips to Ward off Loneliness)

there's 10 000 people turn in 65 every day and one half of this population is reaching this age on their own so you're not alone in this phase you need to know that you aren't alone but retiring solo does increase your risk of actually being lonely which can have detrimental impact on your health today we're going to talk about retiring alone or the new buzzword of solo retirement so if you're watching this and you say well that doesn't apply to me and you're a woman stay tuned the reason i say that is unfortunately seven out of ten or seventy percent of baby boomer aged women actually outlive their husbands what are you gonna do with that why are you laughing what are you gonna do without me i don't know what i'll do with that party anyway there's 10 000 people turning 65 every day and one half of this population is reaching this age on their own so you're not alone in this phase you need to know that you aren't alone but retiring solo does increase your risk of actually being lonely which can have detrimental impact on your health so this idea of emotional loneliness you know that people over 65 who suffer from that they have an 18 increase in their mortality rates which is scary so today we'll give you seven strategies to help ward off loneliness and overcome isolation to live a more fulfilling life as a solo retiree so here's the first strategy and this is really important overcoming your financial insecurities now if you are a single woman now or a single person and you're retiring and you don't really have a handle on your finances that's a problem and you're going to be stuck and stifled and not be able to move forward so you need to hire a financial planner and understand your finances and frankly if you're a couple watching this and one of the two of you really gets finances well and the other one doesn't that's not a good place to be no if you're listening to this both of you should pay attention and share the financial information as well as the financial burdens now because ultimately if you listen to that first statistic if you're a woman 70 of us will end up as a solo retiree outliving our partner that's just the medical history that's just the facts you know there are friends down the street who purchased the house from this elderly couple and unfortunately her husband passed away and she decided she wanted to downsize she went to sell the house they got all the way down the road to the closing right and realized he had never changed the title of the house so it took another three months to close and it's just because she had no idea they weren't really sharing the information so it is really important yep so get your finances in order we're not financial planners but definitely find one that was strategy number one strategy number two create a small support group of peers like mark said you're not alone there are many other people in the same place and you want to be able to share your struggles and successes with them yeah because it's it's tough to be alone and it's tough to really be alone but if you can be alone with another person who's alone then you're not alone anymore right that makes sense right kind of yeah good theory i mean you could do weekly coffee you know pick up a class or do some exercise or even just take a long walk it's important to make sure that you connect and have a group of peers yeah relationships are key and having a support group really helps so strategy three is along the lines of that but we're really suggesting that every day you talk to someone on the phone and person whatever it might be make sure you have a conversation with another human being every single day and it might make sense to make a list of people that you can call absolutely makes sense you know friends and family and neighbors you know and never feel like you're imposing and like mark said don't let a day go by that you're not involved in a conversation now it's always better in person because it feels better but if you can't be in person bad weather you know covet kept us all locked up a little bit at least call but be there and frankly what's helpful is not only for you to reach out to get some communication help but be the one supporting other people that's a great way to start having some conversations in a peer group that you're leading it so connect with someone every day strategy number four have a daily plan and a schedule something that adds structure to your life so that you're not always wondering what am i going to do today what's the morning going to be like how am i going to make it through the afternoon really set the tone from the day in the morning now good habits and routines are important and i know a lot of people that like to get up they've worked their whole life and they're retired now and they want to get up and just have a cup of coffee and watch tv watch a little more tv have some more coffee but before you know it it's 11 o'clock and you haven't talked to anybody and you really haven't done much so setting some schedule and some time some self-care time with friends and frankly limit tv i mean i you know watching tv every morning from 7 a.m till noon it's not healthy no but you could even schedule some time to learn to pick up a class to go to the library to read to children to find things in your community that you could do to be helpful and that makes you not alone and isolated so here's the fifth strategy and you've heard this from us so many times and it just makes so much sense this one does come up in a lot of our videos because it helps in so many areas of your life the fifth strategy is exercise every single day move your body move it get up and move it do you know that if you walk 20 minutes a day every day for 20 minutes you can add five years to your life so what about walking with a friend and 20 minutes that's easy walk for 30 minutes with someone and have a chat and catch up so you're now you're exercising and you're communicating with someone you know as we all age movement does become harder but you need to be as active as you can and just know that you can do 20 minutes a day so we hope you do that take it seriously so now let's talk about strategy number six volunteering you know there's so many benefits with volunteering and it's become such a huge part of our retirement transformation program and you know we do bring it up a lot volunteering sharing your wisdom creating your community you know providing yourself with fulfillment sharing and searching your passions we bring that up a lot but it does help with this loneliness and the potential for isolation you know you instantly can find a community of people when you start to volunteer and it could be as basic as working at the local food bank or the library or something but you're going to find dozens of other people in the same position you are in looking for communities so it's really important to give this a shot absolutely strategy number seven would be to try new things learn technology mark and i did a talk one day and there was a bunch of people in the room and one lady raised her hand talking because we were bringing up this strategy about learning technology her name was ava she raised her hand and she talked about the world that technology opened to her allowing her to connect with her family over in italy and how they structured it how she learned face time how she learned zoom how she learned to be able to work all of the technology in her house to really ward off that loneliness and you know how she did it remember her story she got one of her grandchildren to sit with her and work on the iphone with her to learn how to do face time she couldn't believe in her mind that it could happen and then in the end how easy it was for her right so but it really made her feel connected and less lonely and i think utilizing technology in that way is really smart and learn from a younger person it's nice in a community to have people your own age and people younger so and while you're learning technology look for online courses that are out there look for some online learning that can engage you i did that when i went to the university of pennsylvania and i took an entire online online course and i got to zoom in with other kids college kids college kids and i was the old lady but that was great and i made a lot of great contacts doing that no a big thing to remember is you're not alone you can ward off this loneliness but you need to be proactive work on the seven strategies we just mentioned above and listen if you enjoy this please share with your friends and also please subscribe by clicking the subscribe button below don't forget to join our free facebook community the link is down below and it's very interactive where jody and i go live each week you get to ask questions and we can communicate with each other and thanks for listening and we look forward to seeing you again

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CPF Retirement Sum & CPF Life

In this video, I will explain the 
concept of Retirement Sum and CPF Life  One of the main goals of CPF 
is to ensure that Singaporeans   can meet their basic retirement needs.  The CPF Lifelong Income for the Elderly, also 
called CPF LIFE, is a national annuity scheme   that will provide us with a monthly payout no 
matter how long we live, starting from age 65.  To fund the premiums of CPF Life, a new 
account called the Retirement Account,   will be created when we turn 55, the Retirement 
Account compounds at up to 6% interest rates  The amount set aside at 55 in Retirement 
Account is called the Retirement Sum   and there are 3 tiers called the Basic 
Retirement sum (BRS), Full Retirement Sum (FRS)   and Enhanced Retirement Sum (ERS)
The Retirement Sum is form by   drawing funds from your SA followed by your OA.
You can watch the video on the top right corner   on how you can optimize your Special account 
using SA Shielding hack just before turning 55  The question you may ask next is what determines 
the amount of monthly payouts we will receive?  the more you set aside in your Retirement Account 
at 55, the higher the monthly payout will be.  For example, if you are turning 55 in 
year 2021, you will need to set aside   BRS of $88K , or FRS of $176K which is 2 times 
of BRS or ERS of $264K, which is 3 times of BRS.  And correspondingly, the projected monthly payouts 
from age 65, based on CPF Life Standard Plan,   will be around $800 per month if 
you set aside BRS, $1500 for FRS   and $2100 for ERS.
You can also use the CPF   Life Estimator, which I have provided the link 
below, to project your monthly payouts after 65.  Due to inflation, Retirement Sum has 
been increasing at about 3% every year.   Do watch my next video which I will be 
sharing more about Full Retirement Sum   and a calculator to project 
your FRS when you turn 55.  I hope this video gives you an idea of 
how retirement sum relates to CPF Life   which eventually determines the lifelong 
monthly payouts when we retire.

This will   allow us to plan for our retirement in advance.
Thank you for watching. If you find this video   helpful, please Like and Subscribe to 
my channel for future notifications..

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Retirement Planning: Are you Ready for Retirement? with Oak Harvest Retirement Success Plan

[Music] welcome to the retirement income show on Market Lane alongside the CEO and founder of Oak Harvest Financial Group that of course is Troy sharp Troy is a certified financial planner professional his team at Oak Harvest is incredible if you want to go to the website to learn more elk Harvest financialgroup.com Oak Harvest fg.com works as well a lot of great information on the website you can learn about Jared Kinney Ryan Kenny you can learn about Chris Paris Jessica canella the whole team there's just a phenomenal team Oak Harvest financialgroup.com and of course you can always go to the YouTube channel there's over 300 videos on there about any topic you can think about in the financial world the retirement world uh it's phenomenal and there's no cost you subscribe you'll know when all the new ones are out but there's no cost to any of that YouTube check out Troy sharp and Oak Harvest Troy's office located at 921 oral City Way I-10 and Bunker Hill they they are here for you if you need help they would love to help they just don't know if they can help until you reach out and you can do that just by giving them a call 800-822-64-34-800-822-64 34 today we're going to be talking the retirement success plan Troy is going to explain what this is and it's the process so it's about investment planning income planning tax planning health planning Estate Planning and they all go together Social Security and Medicare are in there as well you know you've done this for a long time you sat down with a lot of people so you kind of understand the common mistakes the common things that we Overlook as well this will be good going through the retirement success plan how are you going to inform us today of this retirement success plan well just like we have as humans we have basic needs right we have that hierarchy of we need shelter we need food we need security in retirement or once we get to retirement people have their the same concerns the same questions we all have the same let's call it fears do we have enough you know can you retire when can you retire how much can you spend when you do retire without the fear of running out of money we all want to pay less tax right the government can get their fair share but not a not a penny more and whatever that fair share is it's it's defined differently based on your plan so if you take the government's plan there they want to get as much from you as possible and the tax law is set up in a way that if you don't plan for taxes in retirement oftentimes we see people in situations where if they keep doing what they're doing 200 300 500 800 we sat down with a client prospective client recently and we're doing this analysis it was well over a million dollars in taxes if he kept doing the his way of things the way that his advisor had him doing it in regards to his income plan and tax plan and retirement well there was no tax plan obviously but his income plan was going to lead create this domino effect of his tax bill being over the course of time over the course of 25 years over a million dollars in estimated taxes that he was going to pay that he simply didn't have to pay if he went about a different approach the approach that I'm going to talk with you about today as far as step three of our retirement success process the tax planning aspect so just like we have basic needs as human beings we have basic concerns when it comes to retirement and we've created the structured process and that's the beautiful thing about the retirement success plan is it's a plan that is something that is actionable but it's also living and breathing it's something we will review with you throughout the year once you're a client but it's also a process and we believe in structure here we're really big on structure and process and that keeps us organized that keeps us on schedule and that keeps us ahead of the planning curve in order to do the things that we promise for everyone that's entrusted so much to us and I'm talking about your retirement you worked for 30 years 40 years 50 years in some cases and you save up whether it's five hundred thousand dollars or five million or 50 million you need a team of people that of course are knowledgeable but before education and certifications and designations and training and experience first and foremost you need somebody that cares okay if you start there with someone that's a fiduciary and not just you can be a fiduciary and still do the wrong thing I've seen it for years in the industry where fiduciary advisors still sell mutual funds that have high fees and commissions and they can make justifications for why they're selling them or why they think you're they're in your best interest I don't believe that they are personally um we would never put someone into a mutual fund that is charging a five percent front end commission and then you know has two or two and a half percent of hidden fees and we've seen that for for years coming from fiduciary firms fiduciary advisors so you start with from Ground Zero are you working with somebody who truly cares who's truly passionate about retirement so with that philosophy in mind that's the foundation of of what we look at when we hire people here at Oak Harvest Financial Group you could have all the designations in the world all the education all the experience but if if you're arrogant if you're not humble if you're not hungry if you're not continuing strive to be continuing to strive to be a better person we don't want you to work here because that foundational element do you care about the people that you're working with on a human level if that's not there then you know we don't want any part of that type of person I don't care how much you produce how what the metrics are when it comes to how we measure advisor performance so that's the foundation now once you have someone that cares you want a structured process in place to deal with those big questions that you have the big concerns that you have so do you have enough yet it's not just a yes or no question it's a function of how much do you spend what is your health situation if you're healthy yes of course you're going to live longer most likely but are you planning for the increased medical costs in increased probability of needing long-term care or Assisted Living these are aspects that healthier people do have to absolutely be concerned about those that are less healthy it's less likely you're going to have a two or three year four or five year stay in a long-term care facility or need nurses in the home so when we talk about do you have enough and can you retire these are all the answers to those questions are function of how much do you spend what is your longevity what is your health situation your of course your family history um but not only that it's what are we doing with the other aspects of this process meaning the income planning side the tax planning side what about the health care side you know are you retiring before Medicare do we need to look at some type of Health Care planning that qualifies you to receive a subsidy so you're not paying two thousand dollars a month for both spouses for health insurance that maybe we get it down to 400 a month or 600 a month or maybe no out-of-pocket costs whatsoever for health insurance premiums you can do that with proper planning but you need the right type of asset structure meaning if you have all your money in retirement accounts this is where tax planning comes in when you take money out that goes on to your 1040 your tax return and then you probably aren't going to qualify for as big a subsidy as if you had money saved and non-ira accounts so this the structuring of income planning tax planning Health Care planning and then of course the estate side of things this is all what the oak Harvest retirement success process the retirement success plan is and that's what you receive when you become a client it is a very clear and structured process that we go through but then it's also a plan that is living and breathing and we're making adjustments as time goes on tax law changes economic conditions change goals change your spending levels will change it retirement is and we've only learned this you know from years and years of experience the best delayed plans we can't just set him and forget them you know plans need constant monitoring just like a plant or a garden or you know a human being so the retirement success process we're going to get into today to to today we're going to focus on the first three steps the first step is risk management and investment planning next step is income planning so income planning is social security when do we take that it's not just based on the math which it does play a role but when we start to look at are you a conservative investor okay versus an aggressive investor investor that plays into the Social Security election decision of course your Health and Longevity plays in market conditions okay are we in a recession when you're thinking about taking social security are your accounts down 20 30 percent or did we have a really really good year last year and it looks like we're gonna have a good year this year all of these factors kind of tie in to that income planning component as well as many other we're going to talk about and then the big one we're gonna we're gonna get into is tax planning that's step three of the retirement success process and when you start to understand that retirement is a set of dominoes when you're young you work you put the kids through school you deal with traffic you deal with bosses you deal with if you run your own business all the headaches that come with that you deal with so many different things money is really really simple it's life that's complicated in the accumulation phase once we get to retirement now life gets a little bit more simple it's the money it's the decisions you have to make and the realization that every single decision you make how you invest the portfolio impacts not not only how much income you can take today but how much income you can take down the road the sequence of returns risk based on how you've invested sequence of returns is if the market goes down and you're also taking money out you exacerbate that downturn in the market because there's no paychecks coming in you're you're pulling money out and losing in the market so these decisions every single one that you make it's a domino effect it impacts everything else it impacts the tax plan it impacts the income strategy can impact the health care it can impact absolutely the estate plan so we walk you through this process so we have a plan in place we call it the retirement success plan and the goal is for you to have security first and foremost but what I find most often is the outcome is that people feel more comfortable they feel more secure and they're able to enjoy retirement a bit more because they've they have a plan in place that addresses all these certain needs but also through the continual monitoring and adjusting and conversations one thing I love about our process is when someone comes to us and we have that first meeting where it's just get to know you you know no pressure no obligation no cost we get the information we do an analysis between that first and that second visit and then when we come back on that second visit you actually get to see what it's like to be a client at Oak Harvest Financial Group because that second visit with us we're starting to go through the foundation of a financial plan we're starting to discuss the decisions that you have to make not only this year but in the future so that's almost exactly what it's like to have an annual review with us or a semi-annual review with us so I love that about our process is that you get to see before you ever decide to become a client what it's like to actually be a client when we have up on the big television screen all of the information the choices you have to make the impact of making different decisions how it impacts your taxes how it impacts your income how it impacts your account balances when we do a sensitivity analysis and and show you okay this outcome in the market and this outcome for income decisions versus this one here are the possible outcomes for those choices and that those combination of choices so you get to see what it's like to actually be a client just through our normal process of going through that first second and third visit with us many Engineers it takes a little bit longer than that sometimes it's four or five visits but our goal is to Simply provide value we want to make deposits in your life we want to provide value and you know people see that value and they say you know what I think you guys could be a great part of my financial team my retirement team and yes I want to work with you Troy so if that's you if you don't have a retirement success plan if you don't have a tax plan income plan if you don't understand the guard rails what I'm going to get into in this next segment as far as risk management in retirement give us a call we want you to leave a message there's no one here working on the weekends if you're watching this on YouTube if you're listening to this later and it's during the week sure give us a call someone will pick up but we want to have a conversation just to see what's important to you who you are if you're a good fit for what we do and of course you can ask questions to see if we're a good fit for you and then we'll schedule that first visit there's no cost no obligation we can do it through Zoom we can do it in person at the office right here at I-10 and Bunker Hill in Memorial City and that first visit we'll have a cup of coffee a glass of water and just get to know each other and if we are a good fit at that point we'll get that second scheduled we'll do the analysis that I talked about and we'll walk you through that retirement success process so you can have those big questions answered do you have enough can you retire and how do you pay less tax 1-800-822-6434 1-800-822-6434 Oak Harvest Financial Group check out the YouTube channel check out the website Oak Harvest Financial Group so when you think about this this is what I think you should really like about it it's you're working with the team at Oak Harvest for your retirement right to coming up with that retirement success plan you're the CEO it's your retirement look at Troy and the team at Oak Harvest as your Chief Financial Officer here to help guide you you're going to make the decisions they're going to give you the choices right and it's up to you because it is your retirement it's your hopes and dreams your bucket list and all of that it's really important though that they understand your feelings your thoughts your hopes your dreams it is about you so you've got to talk to them and they're here to listen and they're here to help again that number is 800-822-6434 risk management how important is it what actually is it Troy we'll explain when we come back this is the retirement income show with Troy sharp out of Oak Harvest Financial Group back right after this investment advisory services offered through Oak Harvest Financial Group LLC Oak Harbor's Financial Group is an independent Financial Services firm that helps people create retirement strategies using a variety of insurance and investment products investing involves risk including the loss of principal any references to protection benefits or lifetime income generally refer to fixed Insurance products never Securities or investment products insurance and annuity product guarantees are backed by the financial strength and claims paying ability of the issuing insurance company Oak Harbor's Financial Group LLC is not permitted to offer a No statement made during this show shall constitute tax or legal advice you should speak to a qualified professional before making any decisions about your personal situation we are not affiliated with the US government or any governmental agency this radio show is a paid placement foreign [Music]

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Is 1 Crore Enough To Retire? How to plan your retirement?

Hi friends, welcome to Yadnya investment academy. We are going to talk about a topic of financial planning on Friday. And today's topic is very interesting. Because this question is asked regularly on many social media channels and workshops. That people have an amount in their mind that is 1 crore rupees. We think that if we have 1 crore rupees, our life will be good. So this question remains in the mind that if I have 1 crore rupees, can I retire now? Am I financially free? I don't have any tension of retirement now. Now whatever work I am doing is extra. So that 1 crore rupees is enough. And if you have retired now and got EPF money and total is 1 crore is it enough for you? And if it is enough or not, how much can you spend in both questions, when is enough and when is not. We will touch on all those things in this video.

I will explain everything through a calculator. You can check that calculator on our website investyadnya.in as well. We cover many topics of financial planning in this session. If you want to make your own financial plan, then go to investyadnya.in website There are many products related to financial planning. There are 1 to 1 sessions as well. You can check that out. Now I am going to my website and I am sure you can see my screen. If you go to the tool and calculator, here you can see the retirement calculator.

I don't think you will get this anywhere else. Now the question is, suppose I have 1 crore rupees, is it enough for me to retire? First of all, I will be asked what is my age? I am just giving an example, 50. Suppose I am 50 years old, what is my life expectancy? It is important to know when you will be retiring. I think we should keep it around 90. I am keeping it at 90. How much is the expense now? If you are retiring and you have 1 crore rupees, how much do you want to spend? What is your monthly or annual expense? Suppose I am thinking that I have 6 lakh rupees.

I have put 6 lakh rupees here. How much inflation are you assuming? How much will my expenses increase every year? If India's inflation is around 6-7%, then you can assume that. Suppose 7% inflation till the end of life. Current asset, how much money do I have? I will put 1 crore rupees here. I have 1 crore rupees here. I will put that here. How do you invest this 1 crore rupees? How much return will you be able to earn? This is a very important question. What type of investment do you want to put? Do you want to put it in PPF? Do you want to put it in Senior Citizen Savings Scheme? Or do you want to put it in FDs? Or do you want to create a portfolio of Mutual Funds like Hybrid Equity Funds? This is very important. Let's take all the scenarios. Suppose I want to put it in FDs. I don't want to do anything special. I will get 7% return in FDs. Whatever is the post tax. Or whatever you think. You get 7.5% but let's keep 7% for calculation. Let's keep 7.5%. Let's keep 8%. We have put it in bonds, Senior Citizen Savings Scheme.

And there is some money in EPF. So, we have kept some money in equity. So, my 8% will earn 1 crore rupees corpus. Which is 1% over inflation. I have taken 7% inflation and 8% returns. I have to put these 6 fields first. If I submit this, My retirement corpus is in deficit of 1 crore. This means that I need 1 crore more to develop this scenario. If I am 50 years old and I have 6 lakhs per month. And 7% inflation. And 8% growth. I need 2 crores. 1 crore is not enough. Now, let's change the scenario. What should I do if I am not able to do it. I can either reduce it. I don't spend Rs 50,000 per month. I can do 30,000. Then we can change the amount. We have done 36,000. And then we have put this change. So, 21 lakhs is still less. So, basically it will come to 3 lakhs. So, now our retirement corpus is only 67,000 less.

So, I can spend 3 lakhs per year. If I can spend Rs 25,000 per month. And if I take 7% inflation. And 8% growth. Then 1 crore is enough in 50. If I spend 25,000. If I spend 50,000 with same scenario. Then I will need 1 crore. Now, you will say that I invest in mutual funds. I know investing well. And I think that my corpus can earn 10%. If 7% is inflation. Then I think that my corpus can earn 10% per annum. Like our approach. You must have seen many videos on retirement. If you want to understand anything. Then put it in the comment section. If I think that I can do 10%. So, let's try it on 6% after spending 3 lakhs. So, now our corpus will be 47 lakhs. So, it means that I can spend 4 lakhs or 4.5 lakhs. So, 4.2 or 4.3. Means I can spend around Rs 35,000 per month. If I can earn 10% return. Now, you will say that I have already retired. I am 60 years old. And now tell me what is this scenario. So, in that I can spend 50,000 per month. So, in 60 years also if you are earning 10% return. Then there is a deficit of 24 lakhs. If this scenario plays. You say that I have inflation.

I don't spend much. 50,000 per month. Next year, I will grow according to 5%. Then it is good. 5% inflation, 10% rate of return, 1 crore rupees. You have enough. You have just enough. So, you can spend 50,000 per month. If you are 60 years old, you will get that money for 90 years. Now, there is one more thing. Many people think that I have a pension. I have a house. He is giving rental. Or I am getting pension. Suppose you are getting pension of Rs 10,000 per month. Means it comes more than that. But I think 10,000 per month. So, I am getting a pension of 1,20,000. And we will make it 7 again. Is there any growth of pension? It seems that 2-3% growth is there. So, let's grow it by 3%.

Till when will the pension come? Will it come till 90? Will it come till life expectancy or will it come soon? Many times, for limited time, money is going to come. So, we sell those things. Rental is going to come. I have to sell that house after 10 years. So, you can put that also. So, I have to get pension till last. Till 90. So, then in 6 lakhs, 7% inflation, 1 crore, 10% and all. So, then almost I am there. Means 3 lakhs is the only deficit left. So, in this way, you can find out that the money you have, is it enough for your retirement? So, now you can change the amount. If you have 2 crore, 3 crore or 50 lakhs, then you can change the amount. Accordingly, you can find out how much expense I will have after retirement, my work will go smoothly till life expectancy which I have planned. So, this will be very very helpful for you. So, if you like Calculator, then do share this video with everyone.

I think this will be very helpful to many people in retirement planning. And from the perspective of financial freedom also. And if you want our financial plans and personalized approach, if you want to understand how to get 10% rate of return, or what all I can do after retirement, then you can go to our website and call our customer service, sales team or relationship team. You can WhatsApp or call or email. And then we will reach out to you and we will surely try to help you on those things. That is all I have. I hope, do subscribe more. Because the topics of financial planning are not going on much. So, do subscribe and like the video if you like it. Have a great time, friends. Jai Hind..

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