Tag: how to retire
Don’t Make these Marriage Mistakes in Retirement
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
retirement can eliminate your marital relationship rather bold declaration we lately spoke with a therapist and her quote was this also the best of marriages are tested during retired life I imply consider your marital relationship up until retirement sure there were bumps along the method as well as there were demanding times and hopefully there was also some Pleasure however one or both of you had the interruption of job right you had partnerships work good friends you had fulfillment you had function each day and after that bam you retire much like we did Friday December 29th 2018 as well as Monday early morning we found ourselves resting across from each other having a morning coffee as well as we said now what or what are you doing today what are you doing today so it is a significant change as well as it can definitely develop such stress and anxiety for your marriage and you recognize are the big modification that occurs is the 800 extra pound gorilla in the space is time in retired life you might invest more time with each other than you ever have before you will invest even more time with each other than you ever have prior to you may no you will certainly because I imply I'' m thinking about us and all of our friends that'' s that ' s the heart not a hard fact it is a hard it'' s a bad point it ' s a great point though however it can be an obstacle I suggest we have had some of the best times in the last 4 years but we ' ve additionally had a great deal of difficulties determining just how do we fit in together in this new stage of Life yeah today we wish to ensure you wear'' t make several of the typical blunders that we made when you retire we desire you to come away from this video clip with a heightened recognition of critical things that you can manage as you relocate through this stage of retired life with your companion so what'' s why does this matter I suggest well it'' s an extended period of time I mean many of us have 20 or three decades ahead of us along with every one of this day-to-day time so consider that our I recognize my profession well if you consider life is three stages you have you recognize up till college and after that you get in your profession and also you get wed as well as that for me was like 38 39 years today we have 30 even more I understand that'' s a lot of time to invest with each other without you understand without having any type of other distractions yeah the various other thing is about divorce right the separation prices in America are really down yet wonderful divorce is significantly up which'' s people obtaining divorced over the age of 55.
As well as it'' s unfortunate that you spend your entire life with each other developing your savings and afterwards you strike retired life and also now all of an unexpected you put on'' t get on any longer best and also you obtain separated best and also the other thing is you know just your general joy Variable you understand a lot of retired individuals are depicted or older people are portrayed as dissatisfied or bad-tempered or curmudgeoned or whatever they are and also the fact of the matter is you have a choice for the next 30 Years to choose your perspective and also it'' s crucial yeah we wish to chat concerning that today we wear'' t want you to be that unhappy miserable copy couple bent on dinner that are resting there in their phones or not speaking they'' re not finding out new things with each other they'' re not attempting new things together they'' re not placing the effort right into the marital relationship that they should be and also you require to put effort right into your marriage regularly your whole life however specifically currently in retirement due to the fact that things do transform definitely so allow'' s undergo some of the common blunders individuals make that you can definitely stay clear of the firstly thing is you have to interact successfully the single crucial forecaster of success in your connection as you go into retirement is communication paying attention really well not disturbing right I'' m efficient that yeah being disinterested appropriate offering an option to what it is you'' re talking with me concerning when you wear'' t also want a remedy you simply intend to speak to me and the various other large thing we have a video on this called respond versus respond when you and I are chatting to each various other the tendency is to react to what I claimed or Iraq what you claimed it'' s better simply to react and occasionally the response needs to be nothing since really great time bad communication can wreck your connection as well as you have every one of this moment together with every one of these Opportunities and possibilities completely or negative communication on the various other hand effective interaction you know responding with treatment being an active audience you recognize giving full Emphasis to what your companion is saying with no technology disturbances as well as making use of a term or a method called investigative questions when you'' re speaking concerning needs or concerns that each of you may have yeah and those are some vital points that you can do to be effective which'' s just asking even more questions'Jody ' s speaking with me about something she ' s not searching for a remedy however asking more inquiries why do you really feel in this way extra open-ended questions to dig much deeper on what the problem truly is that will bring you better with each other than you'' ve been in a long period of time right currently the various other thing that'' s truly crucial specifically and I believe this is truly difficult for males but truly being able to in this stage of your life with your other half or your other half whoever it is your companion dropping your anxiety and also becoming prone really being open and sincere me being open and sincere with Jody regarding what my requirements are why I'' m battling today truly actually allowing my heart open up and inform her what'' s taking place since the worry is that I ' ll be evaluated or she ' ll jump all over me or state isn ' t that absurd you require to go down that fear and also count on each other yeah and also I rather disagree with your reaction that it'' s harder for males than it is for females as well as we debate susceptability in our house on a regular basis the definition of and you know I I think as long as you have a secure Room guys and also women go to the same degree of dropping their guard and also becoming susceptible it'' s simply hard for me and also the males that'like it'' s however it ' s meant for females also okay I ' ve never been a woman and you'' ve never been a male right so yet I see females are much more we'' re not mosting likely to dispute this right here are we we question this in our residence all the time brene Brownish began this discussion in our residence so but primarily it'' s valuable to your partnership if you can have open as well as sincere conversations with your partner yep a 3rd thing that we found is taking trips while we'' re in retirement is a should getting out of our regular routine in our residence with our pet dog grocery buying securing of the trash you recognize cleaning your home like doing every one of our normal things is terrific we are hanging around with each other but doing something different imaginative exploring taking a trip with each other or with another couple stretching each other exterior of our comfort areas to you know go ziplining or go travelling for gorillas or you know so so things is when among your when among you claims hey we actually require to get away the answer shouldn'' t be no we can ' t manage it the solution need to be all right we should figure that out let'' s alloted some money let'' s placed a budget plan with each other allowed'' s intend it with each other and also let ' s go someplace it could even be a tiny journey it can however do it with open eyes and also open heart and simply say you understand what you'' re right we ' re not in sync now allow ' s vanish for a pair days and also discover a means to enter sync and also strategy it out and also do'it best it ' s mosting likely to make all the difference in the world to your partnership the 4th thing is to locate tasks to do together you recognize points that can create friendship you recognize things uh activities that give you something to discuss later in the day or evening or perhaps perhaps give you something to laugh about and also finally you recognize Locating tasks that will broaden your social network so we we play golf together which we both discovered years earlier and we'' re at different degrees as well as often it'' s frustrating for every various other since of that yet if you can locate something to do with each other and also begin with each other like we performed with pickleball we are complete beginners relocating our method up to intermediate we started it with each other and also we'' re learning with each other I'' m not coaching Jody we'' re advising each other of the regulations that we learn and also we'' re advising each various other on how to strike the ball yet it'' s not like you require to do this and also you need to do that so it'' s actually brought us closer together this whole globe of playing pickleball which has actually been really great for us and it'' s increased our socials media which is a big point so the various other thing is to I assume well think from me anyway discover activities to do alone I I require some freedom far from Jody far from your home away from the youngsters some points that are very important to me and it broadens your personal Social Circle I have a guys'' s team that meets down below on Marco once in a while we just get together and also conversation concerning life concerns we have breakfast with each other and you understand I'' ve satisfied some wonderful brand-new people for that I suggest you do you'' re doing some things by yourself I do I imply I do yoga I'' ve got my community around that that I do on my very own some charitable work as well as you recognize I invest a whole lot of time doing points with you obviously however um I additionally you understand like the splendor that it includes to our connection to do a few things by ourselves right the other point that this is most likely the hardest thing to consider doing but talking together about the tough subjects if you'' re persistent and also your partner claims if Jody claims to me I want to speak about this and I state I put on'' t wish to speak about it that'' s unfair as well as that'' s mosting likely to pull us apart there ' s points like sex scaling down concerns with the kids whether we can afford to take place vacation or otherwise you'' ve obtained to have the ability to talk via these things with each other so you can hear what your companion states regarding it and it'' s important to set the subject if you know it ' s mosting likely to be tough established the subject up so you both feel comfortable ideal acknowledge that modifications may have happened if you'' re speaking about a subject that includes your physical wellness or your physical you understand your present physical state you know and also it additionally recognize that the conversation might take more than one-time at the table and it could be that you just state there'' s here'' s a technique there ' s something I truly need to talk with you around'as well as I ' d like you to pay attention to what I need to say and also I wear ' t want an action now I just want you to hear what I need to claim and allow ' s spend some time as well as maybe we'' ll speak about it again tomorrow just establishing these kind of policies together so you can discuss the challenging subjects if you bury them they'' re not hidden right they don'' t their means they don ' t that ' s the means I was trying to find they put on ' t disappear certainly you know living in a residence together can have its difficulties being together each day for a lot of the day also makes said harder so you understand if you think about the 6 points we simply discussed to build a better marital relationship as well as improve your relationship you can avoid several of the significant pitfalls so keep in mind effective interaction you know being prone with your partner taking holidays with each other I believe locating activities do with each other new activities particularly is really important finding things to do alone to provide you some alone time as well as also you'' ve got to have the nerve to speak about a few of the important matters that make a distinction in your life currently we wish you enjoyed this video clip and also if you did you'' re going to enjoy this next one keeping the magic to life in your partnership we go deeper on spouse partner relationship as well as offer you clear steps and also activities to make this occur
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Healthy Habits for a Happy Retirement
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
Struggles as a couple in Retirement (and how to overcome them!)
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
envision a pair the same age both 55 desiring to function till 65 and after that all of an unexpected among them is release to downsizing you recognize this can wreak havoc in a lot of various ways first the financial impact second it has an ego effect third it has a connection effect as well as you recognize don'' t put on ' t mismanage that'self-esteem because that ' s truly hard for people when retirement is not their decision [Music] many people eagerly anticipate retiring most of us have fantastic visions of much less tension as well as even more time to do what we desire to do but suppose your plan to retire doesn'' t accompany your partner ' s timing due to an age distinction or what happens if due to downsizing among you was forced to retire earlier than you plan or finally what happens if you have different frame of minds concerning retirement and also what it looks like for you as a pair moving on you understand these three challenges can damage what'' s supposed to be the most effective years of your life as well as mishandled they can develop tension anxiety and also actually unpredictability to your future together today we'' re mosting likely to aid you better recognize these three challenges and what a most the emotional side seems like for both of you and after that at the end we'' re going to give you 3 approaches to resolve it and also 7 pointers you can use to overcome these obstacles so that you have a smooth shift right into retirement hi my name is jody rollins and i'' m mark rollins we began retirement transformed in 2017 not only for us however actually for every one of you and also the other 10 000 people that are turning 65 every day we put on'' t concentrate on the economic aspects of retirement yet instead way of life health connections and a lot a lot more so if you'' re below please hit the subscribe button to ensure that you can get informed when our brand-new videos appear okay so let'' s take on the first one what we call the age void retired life as well as it ' s much more typical than you believe individuals are retiring at different times because of different age differences a whole lot of couples we instructor are like that we have a customer going via this today he'' s retiring this year he ' s 65 and also his wife possesses her very own consulting business as well as she'' s going to benefit an additional one decade since she'' s younger that ' s her strategy and she ' s staying with it and also you know it ' s clear that he needs a strategy for the'following ten years and also she ' s mosting likely to wait and also remain to function she ' s rising via her job but he simply can'' t rest around all day questioning what to do or expecting her to fill his day he requires to respect her decision and produce a plan for himself yeah as well as she likewise requires to have some versatility also she requires to locate time as well as enable them to maintain their connection to life and also dynamic you understand he really does deserve it and also we tell him that he helped 40 years and he is worthy of to retire this following ten years for them will be important and also it it'' ll be essential that they obtain it appropriate with some genuine conversation some preparation and also without that they'' re mosting likely to find themselves in problem now the 2nd challenge we desire to cover is what we call the forced void retirement envision a couple the exact same age both 55 wanting to work till 65 and afterwards all of an abrupt one of them is release to downsizing you recognize this can create havoc in a great deal of different ways initially the financial impact second it has an ego impact 3rd it has a relationship impact and also you know put on'' t put on ' t mismanage that self-confidence because that'' s actually hard for individuals when retired life is not their choice yeah and also we have some individual good friends in this situation today luckily they'' re economically protected but nevertheless they'' re browsing all the emotions and also the modifications in their lives throughout this duration so pay attention remain to the end where we'' re mosting likely to provide you three approaches to aid you resolve these unexpected obstacles in retired life as well as we additionally have the seven ideas to help you navigate through retirement so until now we spoke about forced layoff of one companion and in very early retirement due to age difference currently let'' s speak about the 3rd space which we call way of thinking space retirement this is where you simply can'' t seem to hop on the exact same page with your with your partner as areas to the retired life vision yeah and what happens if we what happens if we can obtain what if we can'' t get in alignment on your physical health insurance plan one of you is a fitness center rat and also the other one is sedentary or one of you wishes to scale down and also travel and the other does not yeah the listing might continue things is when you retire you'' re gon na have the time to do a number of the points that you intended to do alone as well as with each other however if you'' re not on the exact same page you might conveniently discover yourselves in a hard spot whatever the situation is that you may be in you have to discover a method through these obstacles you wish to create a strategy for yourselves and also a strategy together as a pair so that you can capitalize on the following 30 years and also pay attention there'' s the happiness aspect it plays a critical element as retiring is a milestone that ought to develop happiness not problem and tension you recognize i assume if we reflect on the spaces and also if you as well as i are honest we fall under at the very least 2 of those space classifications we do we do i acknowledge the the age gap you'' re seven years more youthful than i am and also while it'' s not a substantial gap i was all set to retire as well as you weren ' t no i really felt that i still had many turning points in business america that i wished to take on and several jobs to lead and individuals to mentor therefore much even more to offer however i retired anyway on the same day as you due to the merger of my business right and it was rough initially and we'' re going to undergo some strategies since we used as well as you can use them as well to make sure you can get with this phase in a much far better form so the initial approach you can use as well as you can utilize this in all walks of your life is simply ordinary as well as easy communication you need to rest down and speak you recognize you need to speak about expectations you need to speak about top priorities needs goals and also sometimes that'' s easier stated than done so setting a few guideline with your companion truly assists a great deal we'' re not evaluating each other we'' re just going with some ideas as well as determine what you settle on job on where you'' re up in arms but take the wins if you settle on something that'' s terrific where you'' re at odds you need to resolve that a little longer and also possibly supply up what'' s negotiable to find an excellent course forward you understand set a timetable that benefits both of you to see family right so if you'' re in that retired life where maybe you ' re an age gap retired life among you is still working the other can travel freely to go see children and also friends and family ensure you set a routine that helps both of you to see friends host close friends see family traveling grow learn you have to establish a strategy that benefits both appropriate the second strategy after interaction is to truly collaborate these routines sustain each other as you build brand-new routines regardless of which space you'' re handling discover time to appreciate activities with each other yeah and you can likewise construct brand-new habits for lasting wellness and health start doing some points with each other test each various other with routines that sustain long life living and also long life understanding we'' re cycling now or practicing meditation or gosh we'' re doing so among us is doing yoga exercise as well as the various other won'' t join you ' re doing yoga as well as i'won ' t sign up with yet i ' m biking however we'' re you know we'' re doing a whole lot we'' re eating better we ' re doing a whole lot with each other we'' re pressing each various other which is actually healthy and balanced and we ' re building those routines the 3rd approach is to find your rhythm as a pair right so we got ta do that what do i suggest by that determine your greatest as well as most affordable energy times of the day as well as collaborate your activities appropriately again if one is still functioning and also one is at home you recognize if your greatest energy is both of you in the early morning and also you'' re apart you ' ve reached find times of weekends or day offs to to type of coordinate that rhythm hang around crafting your identification in retired life alone along with with each other as a couple pay attention the other thing you can do as a pair is build something with each other you recognize i'' ve always wished to do that you constantly wanted to develop a chair a bench or something yeah we purchased two chairs for the front patio and i put them together alone you viewed i wear'' t know why didn ' t you assist me i don ' t know alright well but you men could attempt that however take up a sporting activity as a couple workout with each other again we'' re biking and also i wish to keep repeating it however we are trying to do some things with each other because we do points alone too find something anything that you both delight in and also do it with each other so those are 3 very easy suggestions that we use to navigate the spaces but you recognize any type of shift in life like retired life living together for the next 30 years a long period of time totally retired couple or perhaps a partly retired pair navigating the gaps takes a great deal of job right so we'' re going to give you seven tips to help number one endure each various other and also each other'' s schedules retired life pays for flexibility so if one'' s retired and what isn ' t give each other the room the person who ' s still functioning has points they require to do and also the one who'' s not that ' s not functioning has a great deal even more flexibility the second thing is to observe changes in sensations habits behaviors as well as communicate regarding it we can'' t stress and anxiety sufficient just how crucial it is to open up those lines of interaction throughout this time around of life the third thing 3rd pointer is put on'' t make any significant decisions concerning your routines without taking a pause like board solution or volunteering or obtaining a job maybe just take a time out as well as see if that'' s truly what you intend to do and collaborate that ideal coordinate the various other person you know don'' t seek to your partner to fill your routine so also if you both retire at the exact same time as well as there are no voids it'' s not the other individual ' s commitment to load your day right it'' s not their job it'' s yours this is where the regimens enter play the 5th pointer uncover some passions that are on your own or with buddies so go beyond your partnership and find some things to do with your buddies or your close friends the 6th point is to always support each various other if something new hits the routine or regimen for your companion and also it'' s in the pail of health or health or perhaps knowledge sharing assistance it because it will be very important the last one number 7 as well as we do this every single early morning is we utilize our schedule to secure in essential days events regimens things that we intend to do separately and also together so that we understand where we each are for the day and also the week it truly is essential to do that to ensure that was all 7 that was all seven so if you people appreciated this please share it with your pals and also please subscribe by striking the subscribe button below as well as finally join our cost-free facebook community the web link remains in the notes listed below many thanks for listening and we anticipate being with you once more
Transitioning to Retirement Part 2 (1 to 5 years before retirement)
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
yeah pastimes is a large thing since a great deal of people claim i wear'' t understand what i ' m going to perform in retired life because i have no hobbies but they ' ll say i wear ' t play i have no leisure activities so you need to you ' ve obtained five years to begin to assume about that a lot of people wait till it ' s far too late as well as there ' s so much anxiety on'them they have no hobbies they don ' t understand where they desire to live they ' re not talking with'their spouse we intend to prevent all of that today we ' re discussing transitioning into retired life as well as this is sequel of our three-part collection if you bear in mind as well as if you watched it the very first part is 5 to ten years out today we'' re mosting likely to focus on your planning and things you require to do one to 5 years out before you leave your company as well as enter this third phase you know this is going to be a tough shift in your life if you aren'' t ready and if you put on ' t strategy when we entered this stage we searched for aid we looked almost everywhere but the only point we could locate was economic planning assistance which'' s not what we required and also that'' s why we started this business because we understood we were battling a bit and also had to figure out just how to pivot to make this time around of our life just as good as maybe so here we are retired life transformed partially one which was 5 to 10 years out we offered you 4 approaches to work with the initial was preparing the secondly was comprehending dangers as well as when we speak about risks in retirement it'' s things like your loss of identity as well as producing a new identity your loss of neighborhood and creating a new community as well as those 40 hours of spare time that everybody returns the other thing was building a vision for your retirement five to 10 years out you intend to begin assuming what is it mosting likely to appear like and you likewise the fourth thing is begin thinking of habits and routines what are some great routines you desire to advance what are some poor ones you need to stop we desire to see to it you return and also see that episode the web link is pasted below in the notes so we'' re going to develop on those approaches today as we take a look at the one to 5 years out you understand and in this timespan by now one to five years from your retirement date you do need to have an economic organizer in location therefore you have the economic coordinator your vision should begin being clear and assuming it'' s your selection to retire you have an amount of time and a date you know you have to start obtaining comfortable with the concept as well as obtaining even more general clarity time is going to pass really quickly now you know we both retired a lot earlier than we thought as well as since of that we weren'' t prepared you understand i was at the optimal of my occupation and also i chosen to offer my company i was 55 years old and i prepared on working one more 10.
Every person wishes to function to 65 right yet i only helped five and you understand concurrently my firm was sold to a competitor as well as i stayed during the combination for three full years yet i located that it wasn'' t mosting likely to benefit me anymore so with each other in december of 2018 we left together and also our entry right into retired life was harsh you recognize we we invested a year taking a trip the globe we went to italy uh florence uh where else are we london london bora bora bora bora was fantastic however we did that we captivated family members as well as buddies for a summertime that seemed like a year we recognized we didn'' t really have a function and also someday we searched in the mirror and also neither of us liked what we saw no we didn'' t we didn'' t we didn'' t we didn ' t appearance excellent and also we didn ' t feel good and also the important things is we put on ' t desire that for you this change is tough as well as the extra ready you are the far better opportunity of success you ' ll have so below ' s some added steps that you must be taking one to five years out prior to retirement currently this originates from our experience our success as well as our failures however additionally from most of the clients that we collaborate with you understand the first point we'' re going to ask you to do and also you might roll your eyes is to get a journal lined up or unlined journal a low-cost journal simply something to start writing in something you can start documenting your thoughts and we'' re mosting likely to offer you a little framework on that yet writing is better than online inputting it start taping your ideas your sensations your battles as well as your successes you recognize the reason that writing is much better than digital is it requires you to in fact reduce you can'' t get words out quickly enough so you need to really think about words and compose them and you keep it better when it'' s electronic even if you'' re an excellent typist you can simply bang them full blast'you ' re not really enabling your mind to reduce down and also focus so journaling as well as creating is actually important it'' s amusing when you said bang them all out due to the fact that you'' re a one finger typer two fingers this one which one anyhow be a location for you to gather your ideas yet more significantly to damage up your journal into containers and i'' ll inform you one of the buckets can include our 5 pillars physical wellness psychological health connections that you intend to grow or release your spouse companion placement or misalignment any place it may be as well as the last container is knowledge sharing you want to begin believing about what is it you'' re mosting likely to do after your occupation ends to get fulfillment to profit every one of your abilities and also your experiences to to to offer others in a manner like what jody as well as i are finishing with this organization as well as you intend to start paying attention to your voice and creating it down as well as we'' re really mosting likely to go deeper on knowledge sharing today because that'' s for the next five years you actually intend to start thinking regarding exactly how that'' s mosting likely to suit your life so this journal is mosting likely to incorporate kind of where you are now and also you'' re going to place some getting to declarations in to identify where you'' d like to be and after that you ' re going to have the ability to do some research study and arrange your ideas right as well as some other locations to place in the journal to begin considering is traveling plans if you want to take a trip create it down as well as figure it out as well as begin thinking of it we have the best travel representative by the method that helps us figure some things out yet you also might desire a villa right as well as you additionally might wish to think where do you intend to reside in the following thirty years appropriate and also just how'' s that mosting likely to effect or influence or include your kids and also family just how does that where you live just how does your area influence your hobbies yeah pastimes is a big thing since a lot of individuals state i wear'' t know what i ' m going to perform in retirement because i have no leisure activities or they ' ll claim i put on ' t play i have no leisure activities so you have to you ' ve got five years to begin to think of that a great deal of people wait till it ' s also late and also there ' s so much stress on them they have no leisure activities they wear ' t know where they desire to live they ' re not talking to their partner we intend to stop every one of that we likewise wish to give you a location where you can take down some aspirational pastimes yeah possibly learning a language or mosting likely to an art workshop or getting a new sport start painting start paint yeah mark'' s making fun of me since i wish to begin paint i just place'' t had the time 4 years ago i provided you the entire painting package the easel and also all of the things as well as they'' re still in the wardrobe maybe i'' ll go now alright alright there you go good 2nd thing to do we'' re mosting likely to concentrate the rest so the very first is the journal that was all the big journals obtain a journal and begin creating ideal and also you recognize compose and then placed it away take it back out again put some tabs in there on these different areas i think you'' ll really appreciate it however let ' s speak about knowledge sharon since this is really a core component of your retired life changed and one of things that we did ourselves as well as we finish with our clients and also we show this in an extremely deep method our on the internet course is to figure out some features of on your own so we want you obtain an empty notepad and we want you to place five columns in there going entrusted to right and the first column truly is to provide all of the jobs as well as the roles you'' ve repeated your entire occupation or your life in the last 30 or 40 years and also occasionally it'' s easy to damage it right into pails the last 10 the previous 10 whatever it may be sales role ceo as well as you intend to return regarding you'' re comfy with i recognize for me i returned twenty years i know for mark he went back to his initial task out of middle college which was cutting grass paper boi oh paper boi paper boi when did you cut yards afterwards because you went all the way back i wasn'' t permitted to make use of lawnmower it was inadequate so you pick the time framework that helps you but because first column you desire to detail all those jobs that you had and after that placed the day since the day the second column the date so you sort of have a referral but truly where it obtains fascinating is the 3rd column we desire you to make a note of what did you love regarding that task what what thrilled you regarding it why did you like it a lot what feeling comes to mind when you think of being a paper kid or cutting grass or appropriate i happen to be the world'' s greatest waitress which assists me assists me be a great mother of six youngsters bring plates the fourth column is probably what did you do not like about that duty since if you didn'' t like it you clearly do not intend to take up that kind of task right or that that service in your retired life if you wear'' t like it and after that the collaborators of enemy is what has this work or function instructed you and afterwards to sum it up you want to experience those sheets and do a whole lot of them choose your leading five it'' s crucial it ' s all we desire you to do is what were the leading five work or roles that you played in the last thirty years to make sure that'' s most likely a rather huge and a quite busy sheet for most individuals the second thing we want you to do is provide your strengths and also worths as they talk with you undergo and detail them and get a top 5 for every stamina or worth and once you have that integrate that with your top five work and also see where you land as well as begin discussing it you'' re gon na begin obtaining a little clarity on what it is you believe you could wish to do the various other thing to do as you'' re writing and also assuming concerning it you'' ve got you know one to five years left of job beginning taking notice of your to your days currently so you reversed now moving forward if you have actually identified sales management as something you like really pay interest when you'' re doing it currently you'know if you ' re a financing person as well as you enjoy servicing spread sheets is that actually what you see yourself doing after so it'' s truly vital it makes makes me think about that what was that book that uh we read um knowledge at the workplace by chip conley yeah we'' ll placed those write below wisdom at the office by chip conley the making of a modern-day elder an incredible read it'' s a truly interesting publication concerning his duty in airbnb as well as the other thing to do throughout this stage if you'' re not already is begin volunteering at all form or develop you recognize maybe at the food bank it might be anything however you wish to locate a way to offer board service well i'' ll tell you it makes it less complicated to find your offering niche after you'' ve returned and also you'' ve looked at what inspires you in different duties as well as what your core worths as well as proficiencies and also where you obtain your juice from and afterwards you identify exactly how much time you have now with the one to five years still functioning and after that you determine how to introduce into an offering duty and also every community requires you currently look these following 5 years are mosting likely to be a challenging time they'' re going to go quick we wear'' t want you simply to coast and all of an abrupt end up thinking oh my god i'' m leaving in year the following video clip has to do with the last year but we desire you to do every little thing we discussed in the initial video and also this to obtain you all set for that as well as that way you'' ll land in this stage completely ready and pay attention if you appreciated this please show to your close friends as well as additionally please subscribe by clicking the subscribe switch listed below and don'' t fail to remember to join our cost-free facebook community the link remains in the notes as well it'' s a fantastic area to begin to build a neighborhood for your retired life phase many thanks a lot for paying attention and also we eagerly anticipate being with you once again quickly you
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The Balance of Living in Two Homes in Retirement
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
however pay attention um having 2 houses is wonderful and it'' s transformed the means we live drastically you know we'' re much healthier and also we ' re better and we really really feel a lot more tranquil and it'' s also been a knowing experience and some job to obtain convenience in possessing two homes [ Music] we made the decision to live in 2 separate areas and also in the beginning it might sound amazing fun as well as perhaps also exotic and it is it can be all those things and also even more yet it didn'' t come or doesn ' t come without dangers there ' s anxiety and also a specific level of anxiousness you know when you own one house there ' s certainly a great deal of work you require to do to keep it up but having two virtually increases nearly everything you have to do as well as it can come to be frustrating sometimes we have good friends that have 3 and also 4 residences i know today we'' re mosting likely to stroll you via a method to make it simpler and also bring a balance to living in two places for the past seven years we'' ve experienced downsizing our large home in New York City which was a five room home and acquiring a villa in connecticut it'' s a three-bedroom residence and afterwards we vacated new york completely making connecticut our main which we discovered was also small and afterwards we in fact upsized connecticut as well as added an office for retirement transformed as well as and another bedroom which is always helpful and now moving our long-term home to florida to a three-bedroom with an airbnb spillover more on that later yeah every one of this took thoughtful conversations not just in between jody as well as i however actually we included our six kids and also their loved ones and with some of our close good friends and also extended family we intended to see to it we did this the proper way it wasn'' t a simple choice now we totally welcomed owning these two residences you recognize the huge modification for us was the awareness that none of it needed to be permanent as well as none of it had to be forever it could change or be reversed at any time and we were dedicated simply to live our best life ever before especially now while we'' re still active and also healthy and balanced and by the means for those of you that are new right here today my name is mark rollins and i'' m jody rollins and also we started retirement change in 2017 not only for us however for every one of you as well as the 10 000 individuals a day that are transforming 65.
Currently we put on'' t concentrate on the monetary elements of retired life yet instead way of life health relationships and also even more and if you'' re new right here please hit the subscribe button as well as obtain informed when all of our brand-new video clips appear so allow'' s delve into exactly how you and also i and also others that we understand are creating equilibrium when having new house as well as the initial balancing act focuses on your funds right you need to start there this should function and it simply can'' t be a stress on'your funds you ' re not mosting likely to appreciate it so you wish to see to it you collaborate with your economic organizer as well as your accounting professional to ensure you ' re doing the best point and you know if you think of it there are some significant financial considerations you understand do you get a home mortgage what are the rates do you pay cash money do you have that do you desire a home or a condominium one comes with costs perhaps they both include charges do you want to rent or acquire or do you actually intend to go and build a residence so there'' s a great deal of points to think about there and also some individuals really desire to build a residence because they ' ve always intended to develop a house as well as truthfully it ' s a fantastic task to carry out currently the various other questions to think of is do you scale down where you live currently as well as get a bigger second residence every one of these considerations the one that jody stated in me is that you'' ve you ' ve got to all these factors to consider enter play however here ' s things you require to be intentional regarding everything that you do can'' t just be you understand possibly we'' ll attempt this maybe we ' ll try that and also now with the real estate market as hot as it is possibly renting makes sense for awhile the 2nd balancing act focuses on your objectives if it'' s not remove what your objectives are and also honestly if you'' re not in sync with your companion it'' s going to be a hard thing to pull off you understand some inquiries to ask is why do you even wish to consider this this concept of having two homes you know if you'' re not hundred percent persuaded and also my suggestions would certainly be to go slow-moving you know why do you want to do this does it please a need or is it an impulse as well as will it in fact make your life far better as well as or better as well as if you have kids speak to them also what do they think as well as are they going to come travel to visit you you know in our instance they did they intended to pertain to florida in the wintertime the various other point is are you going to transform your residency that that'' s a big decision for some people to make because there'' s some tax effects for that and it can'' t really feel like a worry your state of mind is crucial to make certain you have excellent equilibrium owning these 2 residences alright so funds we spoke about check intentions and also mindset check currently let'' s discuss place i mean for us it was very easy we wished to live all year long in warm weather condition so we did an entire video clip in prior youtube'' s on why we selected marco island as well as the link is below however you'' ll see some excellent pointers because as well as that additionally connected back to our intentions you recognize we wish to invest the next twenty years of our life living a really active outside way of living when we can so we did this to have cozy weather condition all year long to deal with our physical wellness and our psychological wellness we needed warm weather condition for exercise we'' re now cycling we'' ve spoke about that recently on the youtube the coastline for our state of mind we'' re massive followers of sundowns as well as daybreaks so reaching the coastline actually has actually aided us emotionally hasn'' t it maybe today today some other considerations when you'' re thinking of location is you know we picked not to utilize to possess two houses in the exact same climate system ideal mark that was something mark used to preach to me when i was looking for a house on the jersey coast to be truthful since i matured going to the jersey shore yet we already possessed a home in new york or connecticut and also in mark'' s mind they remained in the very same weather condition system to ensure that was one of things that we agreed on you recognize the other thing is it a viable market for leasings or hotels for site visitors when they come not all visitors wish to stick with you as well as for us with six youngsters we couldn'' t get house large sufficient to host every person as well as like mark said earlier you recognize it was essential for me to choose a place that the children would come and also go to right you know continuous reflection for us now that we have two residences is just how are we doing do we like what we'' re doing can we enhance one or the various other more as well as that'' s where we are so we'hope you people are enjoying this we ' re concerning midway via the video if you like it please hit such switch or leave an inquiry or some remarks it truly is important for us to hear what you'' re thinking as well as'don ' t forget to subscribe but the 4th location where balance enters into play and having 2 homes or several residences is making both of the residences comfortable you understand that the point is that we located having two homes that we want to make comfortable really suggests in more build-up of stuff as well as things i indicate if you consider it right you have two energetic kitchens so you'' re going to have we enjoy to cook comparable appliances in both you know maybe 2 residence fitness centers which might imply you recognize 2 pelotons or 2 you know bozey rounds is that what you call those bosy bowls what are those points called uh not a bosey bowl i assume it'' s a bozy round okay you know it likewise may suggest and also especially for mark you understand duplicate attire and also clothing i'' m not quite as good at that as you are you recognize we have a pal who comes down here in florida in the winter months and does cape cod in the summer which'' s the very same environment it ' s the same climate it'' s cozy both locations he has this interesting idea where whenever he purchases a brand-new t-shirt or a brand-new pair of footwear or shorts he always purchases two one for each and every house he has the specific very same clothing at each house which is really intriguing and we started thinking concerning that to a point however like you claimed you'' re not you ' re not anywhere near that yeah however not really a bad concept when you think yep you understand i can do it with a few things however if i'' m mosting likely to spend cash on clothing i i type of like that selection in both locations soon we'' re mosting likely to address just how to make owning 2 residences very easy and this comes under that category too yep now we selected not to ever before lease our houses out so we make them comfy with the same linens and cushions and nice televisions we have sonos in both homes as well as all of that stuff including household pictures jody'' s a large candle light person you ' ll always see candles shedding in our home at evening and individual items in both homes so we'' re not stressed over someone can be found in and also damaging any one of that you know we truly made it and also my viewpoint was i want individuals to stroll into each home and as well as feel the exact same despite the fact that the houses are completely various our home in connecticut is historic it'' s 300 years of ages as well as our house in florida is just twenty years old as well as it has a much more coastal feel yet when you come in you still feel comfortable yep so we'' ve spoke about funds intentions and state of minds where do you have the second house making it comfy all of these are very important to make balance in having multiple houses currently allow'' s speak about the important things that we both enjoy one of the most which is identifying a means to make it easy and straightforward you understand it'' s vital that you have those for first 4 points in place and afterwards this part actually can be found in when you'' re discussing interest to information you recognize large image you'' ll require an excellent residence watch or caretaker for each residence a person or a team of people that will certainly care for it when you'' re away in our connecticut residence due to the fact that it'' s 300 years old it requires constant maintenance that home is a great deal of work it'' s a lot of job so as well as it mosts likely to have winter time for snow using so we have a landscaping company we have electrical contractor and a builder all of them have access to the residence they all have accessibility to our cameras so they all play a role in keeping that residence healthy you recognize in florida it'' s a lot much less maintenance you recognize we have a pool company we have the house watch team as well as we do a couple of handyman available for chores there'' s very little to do down here yet connecticut'' s complicated it is a few other means to make it simple is we spoke a little bit about this we actually can fly back and forth and not worry concerning clothing at each residence since truthfully connecticut many of our apparel up there currently is for cool climate we have all of our favored wardrobes at both residences we have safety and security video cameras in both houses we have on-line thermostats and also alarm so we actually have eyes as well as ears on the on both residences when we'' re away and with all the brand-new applications that you can utilize on your phone for all of those various points it makes it easy to be somewhere but given that florida'' s a little bit new we still drove a cars and truck down below so our sense of seriousness for several of these comforts remaining in both place wasn'' t as essential however we also have this service so we haul the electronic cameras and also the illumination to and fro and also i'' m truly confident that'' ll change yeah we need two collections of everything and also we additionally simply bought brand new e-bikes that were pricey as well as it actually doesn'' t make good sense to possess duplicate bikes yet so we require to bring them back and forth in the cars and truck but the whole suggestion right here is to be able to fly to as well as from each home with only carry-on and we seem like that we have whatever that we need in both homes so we can do that right as well as so that makes it easy for us as well as you understand the last area to speak about as well as actually have a policy between you as well as your partner on is you understand non-family visitor policies best don'' t obtain me incorrect we enjoy to entertain however we also enjoy our new retirement life and also the flexibility it affords us so you kind of requirement to have a calendar as well as a guest policy and also we obtained some help from this with honestly next-door neighbors nearby who are truly cool regarding having people check out but the ability to for jody and i to proceed our habits and also routines that we'' ve created when company arrives that'' s really crucial to us and as visitors began to turn up we began to imitate hoteliers i indicate we would certainly simply wait on them to stand up we would certainly prepare them morning meal what can i do for you that was our selection but it truly place us kibash on our life a bit as well as we we determined a way around that well i'' m respectable um as well as always make an agenda for whoever is coming down currently i constantly have dinner bookings some organized enjoyable some down time yet i think the real essential thing is we currently establish guideline for our morning right you understand we basically inform our guests you know we'' re active till 10.
you recognize i have yoga exercise or we'' re going to ride a bike or we'' re mosting likely to go for a coastline walk as well as we inform them join us or not however you'' re complimentary until 10. yeah i think when our youngsters come down they mainly join us for our morning activities so we do obtain that time with them yet some visitors like to oversleep i suggest they'' re here vacationing yeah they desire to oversleep which is great to ensure that'' s taken a great deal of pressure off of jody and also i as well as made it a bit much more comfy to have visitor business appropriate as well as but we'' re also improving at saying no and we'' re better at establishing limits you recognize our homes among things that we did when we'' re not in one of the various other homes they are not readily available for individuals to remain we require to be there to hold right including the kids yeah as well as type of well we'' ve bent the rules a little yeah some of the kids most of them don'' t also ask they don'' t i really think they like it when we'' re there due to the fact that we give the food sure we purchase all the food my program comes into play yet pay attention um having 2 houses is amazing as well as it'' s transformed the method we live significantly you know we'' re healthier as well as we'' re better as well as we really really feel much more at tranquility as well as it'' s likewise been an understanding experience and also some job to obtain comfort in possessing 2 houses we wish that all the ideas we provided you today have helped you today as well to make sure that you can think about having 2 houses and not tension out over it if you appreciated this please show your friends as well as also please subscribe by clicking the subscribe button below as well as if you have any remarks or concerns please leave them below as well as lastly put on'' t fail to remember to join our totally free facebook community where jody and also i go live every tuesday at 12 30.
thanks for listening we eagerly anticipate being with you once again.
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Top Tips For Aging Gracefully in Retirement
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
we are all mosting likely to age and that'' s just a reality but how you do it depends on you and also we believe you can regulate it yeah you understand people and we understand people who appear to improve with age make it more powerful they obtain more purposeful they get even more involved and you likewise know those people that appear to obtain even worse weary irritated non-active and isolated I wear'' t comprehend why you constantly need to direct at me when there'' s something like that even if I don'' t get that a person suppose we told you that you have the power to decide which course you'' re mosting likely to take do you wish to age beautifully or are you prepared to crash and also shed as well as you'' re doing it beautifully you are without a doubt one of the most graceful retired person that I understand besides Sam and Natalie right so we have next-door neighbors in Link we had Next-door Neighbors in Connecticut Sam and Natalie we fulfilled them 278 years ago they were 88 and 89 when we satisfied them and also they had a wonderful full life they remained in Hartford Connecticut they ran a business they retired they purchased a home in Hand Desert he was a big golf enthusiast so for three decades they'' d go there for the winter season and afterwards they ' d pertained to Essex for the summer season you recognize Sam was a big golfer so he oh he was he was a huge golf enthusiast really golfed at Syracuse you know 100 years ago on the Syracuse group strolled on the group you recognize yet he ended up giving up off around 85 I assume however besides that the 2 of them would set out on 2 walks a day she was typically a few actions ahead in her kittycat heels as well as her extremely wise Dark pants with her hair done always well clothed he enjoys the fit perfectly jackets yeah they looked they were truly adorable they were really specific regarding what they ate they were really particular concerning their fluid intake and also the quantity of he consumed alcohol Chardonnay she drank vermouth a little cup of vermouth on the Rocks but we saw them in Hand Desert in January of 2021 as well as regretfully they never made it back to Connecticut and possibly after covet yeah they both passed away concerning a month apart however the reason the reason I bring them up as well as we talk about we have a terrific picture of the 4 of us um is just how they age so beautifully ideal they never whine they never ever felt sad they constantly were up about what was the saying he utilized to claim oh so happy to see you I wish you have a fantastic day or something like yes he constantly enjoyed so let'' s delve into today'' s subject aging beautifully as well as allow'' s speak about three locations of adjustment that most of us notice as we mature the initial is your physical aging right this happens to everyone by the age of 65 you will have shed between 8 and 27 of your muscular tissue mass yeah which'' s you begin losing your muscle mass at 30. I didn ' t know that you do so if you overlook it as well as wear'' t work out you ' re going to have a problem because your strength goes away your flexibility vanishes as your muscle begins to wear away around your bones they become brittle so it'' s truly an important thing to know it'' s particularly at 60 or 65 to fix that due to the fact that it'' s going to take place as well as actually what I did recognize is prior to that you know ladies have a significant reduction in muscular tissue mass after menopause you recognize your core muscles begin to weaken you have a more difficult time entering and out of the chair as well as you just can'' t neglect this remain up until the end due to the fact that we'' re mosting likely to offer you some ideas on how to decrease or even begin to reverse several of this yeah physical deterioration so besides your body generally aging your heart'' s gon na age you recognize your arteries and veins get more difficult if you'' re not if you ' re not eating the ideal type of food as well as like I matured with a great deal of convenience food I imply in the past my mom would certainly make deep-fried poultry with Crisco I imply that stuff went with my capillaries as well as it triggered some damages now your muscle mass functioning harder in time and also your heart price is mosting likely to change so you truly reached stay uh pay attention to your heart as it ages so so you have your physical your bones you recognize then you have your heart you know you have your bladder your bladder becomes much less flexible you may see that you'' re beginning to require to urinate even more you might even begin to have some leakage all of this is all-natural progression in aging and also you can'' t go nuts concerning it'since it ' s mosting likely to happen or it could happen and also if it does that ' s the natural course of points we wish to speak with you once again concerning exactly how to do this with dignity hearing is a problem I just recently went to obtain my ears evaluated due to the fact that I assumed without a doubt I was shedding my hearing little bit did they know it was careful hearing yep well I I can'' t hear various other people also it ' s not just you yeah right yet I got a Standard as well as the Baseline is that my hearing was wonderful and also all kidding aside the registered nurse did say to me when do you have problem hearing and state well my spouse could be informing me something he claimed darling you just need to pay even more attention to her yet the fact of the issue exists are adjustments as you age in your internal and center ear that you just have to understand it occurs once more to everyone so we discussed your bones we chatted regarding your heart your bladder your hearing you recognize so all of those physical modifications will certainly start to take place once again stay till the end we'' re going to chat a little bit regarding exactly how to battle several of that right yet the second large classification that is gon na happen to everybody is the psychological aging process right your brain your memory starts to discolor it takes you longer to find points in your brain you understand we did a video on this because it'' s a big concern a whole lot of individuals have you leave here walk right into the other space you obtain in the various other space as well as you think why am I right here that takes place to everyone and as you get older it happens extra since there'' s so much stuff in our head it takes us a while to go back in there as well as locate what it is that we were entering the various other room to seek we'' ll put the link below for this point because it'' s a great I believe it was misconceptions regarding memory loss yes was the name of it so we'' ll put that web link below so all is tolerable yet um as you age your memory does start to go yes you know physical aging is mosting likely to also splash over right into some psychological aging so if you see your athletic capacity starting to wane try some less complicated sporting activities or you know us try pickleball rather than tennis but that physical aging that we discussed beginnings to endure you psychologically I assume that'' s an asset since if you ' re a real Enthusiastic tennis gamer and you just can'' t run around as high as you utilized to attempt pickleball you know I used to be a large downhill skier and also now I simply couple reasons I put on'' t desire to get injured top number two I put on'' t like the chilly so I you really put on ' t like the chilly I do so we do various other sporting activities just to stay energetic even just exercising so once again under the main subject of psychological aging seclusion is something to look out for you recognize for you as well as your partner you recognize you begin shedding your buddies throughout the aging process right everybody does pals member of the family you begin losing the power to actually keep relationships which can create depression which isn'' t healthy for your psychological aging you recognize my father had that list I remember his 10 buddies noted them all on a sheet of paper yellow paper 8 by eleven as well as when I'' d go visit them he ' d talk regarding the ones who were still to life as well as the ones who died however as he grew older you know even more of his buddies passed away and it was so unfortunate for him to have these people not component of his life anymore yet it'' s what happens so proceeding under the mental aging you know don'' t offer in to enjoying too much television or doing inactive tasks yeah I believe I think that um you shouldn'' t read Much less in retired life you must find out more ideal seize the day of this newfound 40 plus hrs that come your means and also read since you desire to challenge your mind as well as review something you'' re thinking about you can read some stories which is great sometimes I'' ll choice up an unique yet read something you want to discover something about you know bios of uh popular individuals in the past due to the fact that it does maintain your brain energetic truly test your brain so that type of you know or several of the peaks of psychological aging so the 3rd location that we want to talk about is way of thinking and shallow aging I know you dislike that word however I couldn'' t think of it I stated as being favorable shallow I assume what you indicate is how you look and also just how you act and how you bring power to others as opposed to sucking energy away well I think I think there'' s frame of mind and also there ' s superficial right so your way of thinking is how are you approaching your activities or your partnerships or your individuals just how are you approaching your you understand that'' s a terrific Factor how are you approaching your aging procedure if you'' re refraining from doing it with the ideal way of thinking it'' s gon na spiral in reverse on you and when you concentrate on the bitter pill of your aging that you can'' t relocation as quickly you can'' t lift as much weight you can'' t climb a ladder anymore it'' s simple to end up being depressed consume badly due to the fact that you'' re worried out as well as allow bad routines sneak into your life well the initial fifty percent of this video clip was all about the aging procedure in those 3 important areas right the physical the mental and the mindset slash surface so right here are some tips that we can bring right into our lives right into our lives to age gracefully via each one of those processes so the very first point enhancing your muscle mass and also strength 3 points you can do eat even more protein resistance train as well as raise your Omega-3s now Omega-3s are located in Salmon walnuts as well as flax seeds they'' re anti-inflammatory and can be quickly contributed to your diet the other thing is inspect your vitamin D degrees to ensure that'' s four things under muscle strength yeah yep that'' s fantastic so another thing you can do the second thing is make diet regimen and nutrition a concern for you eat sufficient eat the best points and also eat an early supper three simple things moisturize the 3rd thing yeah half your body weight in water you require 7 to eight glasses of water a day to meet my my demand the fourth point you can do to assist you age with dignity via those three huge subjects we chatted about is jump on a sleep schedule go to sleep at a particular time wake up at a particular time as well as have a fitful night'' s rest below ' s another excellent suggestion that I like transform your words so this is The Surface that I was attempting to I recognize change your wardrobe as well as you you know for the very first Xmas that we were with each other you obtained me I guess certificate for a shopper at Nordstrom I did you transformed my closet as you age and you start to shrink either shorter or narrower you put on'' t desire to be the guy or the person using garments that put on'' t fit right since you search in the mirror it just doesn'' t feel excellent so keep your wardrobe as much as date the sixth point is Sun avoidance sunlight is an all-natural vitamin D which is really good for you but be careful usage your preventative sunscreens and just be outdoors in the sunlight what did we state thirty minutes a day yeah that'' s it to maintain maturing with dignity you likewise want to maintain your social interaction with your buddies energetic and healthy the eighth thing is most likely to your physician just go to your doctor obtain a Standard and also take the guidance they give numerous of our buddies will certainly return to listening to as an example so many of our friends most likely to the physician they do a standard hearing test the medical professional suggests a listening devices and also they state no and also then they locate themselves out of a lot of discussions so see your doctors number eight and take the Standard advice and also the last one is way of thinking there there needs to be a way for you to obtain to the factor where approving the fact that you'' re aging and viewing what'' s going on yet one thing that I do each day when I stand up in the early morning is I do my journaling and it'' s three uh gratitudes 3 points I'' m happy for and one self affirmation that always makes me really feel good about myself so regardless of where you get on your aging trip as well as no issue what your age really is you can take a few of these changes placed them into your life and also it will do 2 things for you prolong your life and boost your top quality of life now look we'' re all going to age it'' s a fact of life but allow'' s face it with self-respect as well as Elegance allowed'' s make some modifications so that all of us can invest the last Years of our life in the best physical and also psychological state as we can now we hope you located this handy watch this following video misconceptions about maturing where we separate back from fiction as well as provide you some new ways to check out aging you'' re going to enjoy love this set
Don’t Make these Marriage Mistakes in Retirement
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise
Retirement can kill your marriage, pretty bold statement. We recently interviewed a therapist and her quote was this: even the strongest of marriages are tested during retirement. I mean think about your marriage up until retirement sure there were bumps along the way and there were stressful times, and hopefully there was also some Joy, but one or both of you had the distraction of work right. You had relationships, work friends, you had fulfillment, you had purpose every day and then bam you retire. Just like we did Friday December 29th, 2018 and Monday morning. We found ourselves sitting across from each other having a morning coffee and we said: now what or? What are you doing? Today, what are you doing today? So it is a huge transition and it can absolutely create such stress for your marriage, and you know, are the big change that takes place. Is the 800 pound gorilla in the room is time in retirement? You may spend more time together than you ever have before. You will spend more time together than you ever have before you may. No, you will, because I mean I'm thinking of us and all of our friends that's that's the heart, not a hard fact. It is a hard it's, a bad thing. It's a good thing though, but it can be a challenge I mean we have had some of the greatest times in the last four years, but we've also had a lot of challenges figuring out. How do we fit in together in this new phase of Life yeah today, we want to make sure you don't make some of the common mistakes that we made when you retire. We want you to come away from this video with a heightened awareness of critical things that you can control as you move through this phase of retirement with your partner. So what's? Why does this matter? I mean well it's a long period of time. I mean many of us have 20 or 30 years ahead of us, together with all of this day to day time. So think about that our I know my career. Well, if you think of life is three phases you have, you know up until college and then you get in your career and you get married and that for me, was like 38'years right now we have 30 more. I know that's a lot of time to spend together without you know, without having any other distractions yeah. The other thing is about divorce right. The divorce rates in America are actually down, but great divorce is dramatically up and that's people getting divorced over the age of 55, And it's sad that you spend your whole life together. Building your nest egg and then you hit retirement and now all of a sudden you don't get along anymore right and you get divorced right and the other thing is, you know just your overall happiness Factor. You know so many retired people are portrayed or older people are portrayed as unhappy or grumpy or curmudgeoned or whatever they are, and the fact of the matter is you have a choice for the next 30 Years to choose your attitude and it's important yeah. We want to talk about that today. We don't want you to be that unhappy miserable copy couple out to dinner that are sitting there in their phones or not talking. They're, not learning new things together, they're not trying new things together. They're not putting the effort into the marriage that they should be, and you need to put effort into your marriage all the time, your entire life, but particularly now in retirement, because things do change absolutely so let's go through some of the common Mistakes, people make that you can definitely avoid the first and foremost thing is you have to communicate effectively the single most important predictor of success in your relationship as you enter retirement? Is communication? Listening really well, not interrupting right. I'm good at that. Yeah being disinterested right, providing a solution to what it is you're talking to me about when you don't even want a solution. You just want to talk to me and the other big thing we have a video on this called react versus respond when you and I are talking to each other. The tendency is to react to what I said or Iraq, what you said: it's better. Just to respond, and sometimes the response should be nothing because really good time. Poor communication can ruin your relationship, and you have all of this time together with all of these Avenues and opportunities for good or bad communication. On the other hand, effective communication, you know responding with care being an active listener. You know giving full Focus to what your partner is saying, with no technology interruptions and using a term or a technique called inquisitive inquiry. When you're talking about desires or fears that each of you may have yeah and those are some important things that you can do to be effective and that's just asking more questions – Jody's talking to me about something she's, not Looking for a solution but asking more questions, why do you feel that way more open ended questions to dig deeper on what the issue really is. That will bring you closer together than you,'ve, been in a long time right now. The other thing that's really important, particularly – and I think this is really hard for men, but really being able to in this phase of your life, with your wife or your husband. Whoever it is your partner, dropping your fear and becoming vulnerable really being open and honest me being open and honest with Jody about what my needs are. Why I'm struggling right now, really really letting my heart open up and tell her what's going on, because the fear is that I'll be judged or she'll jump all over me or say: isn 39! T that ridiculous! You need to drop that fear and trust each other yeah, and I somewhat disagree with your instinct that it's harder for men than it is for women and we debate vulnerability in our house. Quite often the definition of – and you know I I think, as long as you have a safe Space, men and women are at the same level of dropping their guard and becoming vulnerable. It's just hard for me and the men that, like it's, but it's meant for women too. Okay, I've never been a woman and you've never been a man right. So, but I see women are more. We're not going to debate this here. Are we we debate this in our house all the time? Brene Brown started this debate in our house so but basically it's helpful to your relationship. If you can have open and honest discussions with your partner yep, a third thing that we found is taking vacations while we're in retirement is a must getting out of our normal routine in our home, with our dog grocery shopping. Taking out of the trash you know, cleaning the house like doing all of our normal stuff is great. We are spending time together, but doing something different creative, exploring traveling together or with another couple stretching each other outside of our comfort zones to you know, go ziplining or go trekking for gorillas or you know so. So the thing is when one of your, when one of you says hey, we really need to get away the answer. Shouldn't be no, we can't afford it. The answer should be okay. We should figure that out let's set aside some money. Let's put a budget together, let's plan it together and let's go somewhere. It could even be a mini trip. It can, but do it with open eyes and open heart, and just say you know what you're right. We're, not in sync right now: let's go away for a couple days and find a way to get in sync and plan it out, and do it right it's going to make all the difference in the world to your relationship. The fourth thing is to find activities to do together. You know things that can create camaraderie. You know things uh activities that give you something to talk about later in the day or evening, or even maybe give you something to laugh about. And finally, you know Finding activities that will expand your social network. So we we play golf together, which we both learned years ago and we're at different levels and sometimes it's frustrating for each other. Because of that. But if you can find something to do together and start together like we did with pickleball, we are complete beginners moving our way up to intermediate. We started it together and we're learning together. I'm, not coaching Jody. We're reminding each other of the rules that we learn and we're reminding each other on how to hit the ball, but it's not like you need to do this and you need to do that. So it's actually brought us closer together. This whole world of playing pickleball, which has been really good for us and it's increased our social networks, which is a big thing. So the other thing is to, I think, well think from me anyway, find activities to do alone. I I need some autonomy away from Jody away from the house away from the kids, some things that are important to me and it expands your personal Social Circle. I have a men's group that meets down here on Marco once in a while. We just get together and chat about life issues. We have breakfast together and you know I've met some great new people. For that I mean you. Do you?'re doing some things on your own. I do I mean I do yoga. I've got my community around that that I do on my own. Some non profit work and you know I spend a lot of time doing things with you. Obviously, but um. I also you know like the richness that it adds to our relationship to do a few things by ourselves right. The other thing that this is probably the hardest thing to think about doing, but talking together about the tough topics, if you're stubborn and your wife says if Jody says to me, I want to talk about this, and I say I don't want To talk about it that's not fair and that's going to pull us apart. There's, things like sex downsizing issues with the kids, whether we can afford to go on vacation or not. You've got to be able to talk through these things together, so you can hear what your partner says about it and it's important to set the topic. If you know it,'s going to be difficult set, the topic up, so you both feel comfortable right, acknowledge that changes may have taken place. If you're talking about a topic that includes your physical well being or your physical, you know your current physical state, you know, and it also acknowledge that the conversation may take more than one time at the table, and it could be that you just say There's here:'s a technique. There's, something I really need to talk to you about, and I'd like you to listen to what I have to say and I don't want a response right now. I just want you to hear what I have to say and let's take some time, and maybe we'll talk about it again tomorrow, just setting these kind of rules together. So you can talk about the tough topics. If you bury them, they're not buried right. They don't their way. They don't that's. The way I was looking for they don't go away. Definitely you know. Living in a home together can have its challenges being together. Every day for most of the day, even makes said harder. So you know, if you think about the six things we just talked about to build a better marriage and build on your relationship. You can avoid some of the major pitfalls, so remember effective communication. You know being vulnerable with your partner taking vacations together. I think finding activities do together. New activities in particular, is really important. Finding things to do alone, to give you some alone time and also you've, got to have the courage to talk about some of the important matters that make a difference in your life. Now we hope you enjoyed this video and if you did you're going to love this next one keeping the magic alive in your relationship. We go deeper on spouse, partner relationship and give you clear steps and activities to make this happen.
How to Retire in 7 Years Starting with $0
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
hi men it'' s mark i believe the largest reason most individuals wear'' t attain early retirement is that they were never given a step-by-step guide the only course that appears to be pushed in schools is to get a 9 to 5 job save your money work until you'' re 65 as well as ultimately retire when you ' re as well old to enjoy it the good news is one of the business owners i looked up to discussed it in a somewhat different method he stated the word retirement should be changed with words flexibility due to the fact that as soon as you get to a tipping factor when you have sufficient money to stop functioning you have real freedom daily you can do precisely what you desire no inquiries asked perhaps that'' s loosening up on a beach sipping a pina colada or building organizations that change the globe like elon musk when you have the capability to retire it'' s completely as much as you exactly how you spend your time so on that note today we'' re going to talk about the strategy i utilize to reach my retired life objective in my late 20s beginning with absolutely no dollars this may be a little extreme for some people but that'' s just me i ' m either 100 in or i ' m not in at all clearly you can take this strategy at your own pace and also who recognizes maybe you ' ll even defeat me we'' ll get into every one of this right after you hit that like button for the l2 buga rhythm as it really assists push this video to even more individuals likewise make certain to subscribe if you want to grow your wealth phase one is all about your freedom number this is the target you have to get to in order to have full control of your life this is something you must know even if you'' ve obtained absolutely no bucks in the bank if you don'' t know your freedom figure then it ' s a bit like being blindfolded in a running race you can'' t see where you ' re going so you may wind up putting all your efforts in going in the wrong instructions and even floundering and also dropping level on your face the truth is there are three types of individuals in this globe there are doers dreamers and drifters or else called the 3ds really considering it when i was at school they gave me a cap with d on it they should have recognized i was a doer so allow'' s start with drifters they experience life living paycheck to paycheck with no economic objectives they put on'' t truly see the point of saving or spending cash as retired life seems like it'' s not something a young person needs to be believing about daydreamers do have financial objectives however they put on'' t have any plans in area to actually achieve them so they will certainly forever simply remain desires and finally doers they have economic goals but most significantly have a strategy to reach them which'' s where your freedom number is available in this is a really private point and also it all depends on exactly how much you wish to pay on your own annually when you retire it'' s really a great way to figure this out and also it'' s called the times'25 regulation so let ' s to start with assume you intend to make fifty thousand dollars per year without working secondly we would certainly need to increase 50 000 by 25 which gives us 1.25 million bucks the concept is that you'' re able to take out 4 percent of this annually without ever running out of cash and you presumed it 4 percent of 1.25 million bucks is 50 000 1.25 million bucks just how am i ever going to get that in 7 years this video'' s a lie i understand this might sound difficult especially if you ' re beginning with no dollars yet it is feasible no one stated it'' s going to be simple yet with the best approach it can be done i suggest if i can do it then so can you in the beginning of your retired life plan the way you believe regarding cash is critical it'' s everything about getting the ideal frame of mind in area the secret is to prioritize structure wide range over cash money flow this is since developing riches is about securing your cash away in possessions that raise in worth whereas capital offers you more money streaming into your pocket now this might seem excellent yet it can cause a variety of troubles such as way of life inflation as well as sky high taxes capital is extremely essential yet extra so later on in life as soon as you begin to unwind this is why whenever i made some added cash when i was younger i seen to it to reinvest most of it naturally i obtain it in some cases it can feel truly nice to safeguard some earnings and also secure it away in your checking account it can provide you a full sense of protection understanding you'' ve obtained all your money beinged in your represent whenever you require it but the reality is you typically wear'' t requirement as much cash as you believe creating a behavior of reinvesting your capital is definitely crucial when it concerns developing wide range as fast as feasible and hitting your freedom number phase two is laying the structures this is sort of like building a home you require to lay a solid structure to ensure your residence doesn'' t crumble the first sign of a quake however seventy percent of millennials currently live income to income which implies they'' re constructing their lives on an unstable base similar to developing a home on mire if you discover that unbelievable after that this is also a lot more stunning forty percent of americans with an earnings higher than a hundred thousand bucks a year are still living income to paycheck this simply mosts likely to show exactly how crucial laying the foundations are as well as despite the fact that it might appear simple numerous people are failing at this phase there are 4 phases i taken into consideration when i remained in this stage throughout my early 20s the very first phase is settling high interest debt it'' s crucial to pay this off prior to you even think about investing your money as high passion financial debt is holding you back but claiming this it is extremely important to comprehend the difference between great debt and poor financial debt great financial obligation is anything low rate of interest that makes you cash for instance the home loan on a rental residential or commercial property or low rate of interest money on a laptop computer to develop an on the internet business uncollectable loan is high passion financial obligation that doesn'' t make you any type of cash for instance buying clothing on get it now pay later charge card debt or even a normal small business loan all of this financial debt needs paying off immediately i remained in rather a lot of debt when i was 18 as well as in order to get from it i made use of the debt avalanche technique which entailed making the minimal payments on all my high rate of interest financial obligation after that i made use of any money to pay off the debt with the highest rate of interest initially which was my store credit history card at 32 crazy i know signing up for that was a significant error which i'' ve chatted regarding in some of my past videos i then functioned my method via the poor financial obligation with the least expensive rates of interest which was my auto loan at around 15 of the moment within a year i'' d procured whatever paid off the large lesson below is you can'' t spend to build riches when being bore down by uncollectable bill stage two is placing aside a reserve this is necessary for your structures as if you begin investing without a reserve you might locate a few months down the line you get involved in a place of trouble with an unanticipated cost as well as no money to pay for it you will then have to draw your financial investments bent on cover the cost and after that you'' ll lose out on the prospective revenues stage three is constructing a great credit history a credit history is a bit like your resume it follows you around in life is on a regular basis upgraded and it helps lenders choose whether you'' re a worthwhile consumer having an excellent credit rating rating is specifically important if you ever before wish to obtain a financing in the future for instance to buy your desire residence you simply never ever know when you'' re going to require it i needs to have actually started constructing my credit report a lot sooner than i did since it'' s so very easy to begin all you require to do as quickly as you turn 18 is obtain a charge card start placing a few little expenditures on it like gas as well as pay that baby off completely at the end of every month in this manner you pay no passion and verify to the lending institutions that you'' re a reliable customer phase 4 is lowering your tax responsibility every dollar you make has concealed prices of all the costs however taxes can hurt the most and take the biggest attack out of your money noah suches as the tax man the bright side is that tax efficient accounts can decrease just how much tax obligation you have to pay and maximize your savings in my very early twenties my revenue was really starting to get eaten up by taxes so i began trying to find the most effective means to conserve as long as possible i after that found if i opened up a pension after that i can save money i hadn'' t paid tax on this is understood as a 401k in the U.S.A. and also a sip in the uk naturally i will ultimately have to pay tax obligation on this however as i'' ll be older i ' ll remain in a much lower tax brace since i'' ll be making less so hence i need to conserve fairly a great deal of cash yet i didn'' t stop there i opened another account that permitted me to conserve cash that i'' d paid tax on however in the future i wouldn'' t have to pay tax obligation on my capital gains or in other words all the cash that the cash generated this is called a roth individual retirement account in the usa and also an isa in the uk i firmly think that everyone must establish up both of these accounts asap as i recognize it really decreased my tax burden so once you'' ve built up these strong structures it'' s time to start expanding phase 3 is constructing several earnings streams i like to think concerning it similar to this think of spider-man is you the platform is your life and the skittle is your day-to-day job if you obtain discharged hunch what'' s happening now envision this spider-man is you the system'' s your life today you have several income streams the stock market can collapse you might shed your work or your side hustle could fall short but your life is supported by your other earnings streams this makes it really hard for somebody or something to find along and also strike you out a safe and secure task is nowhere near as common as it once was with the ordinary person now functioning 12 tasks in a life time there isn'' t one excellent solution for everyone however something that has helped me throughout the years is to choose side hustles that capitalize on my existing skills as i put on'' t need to learn something entirely brand-new this will certainly frequently end up being something you'' re enthusiastic regarding as you create the abilities without also knowing it often we can lean towards what will certainly pay one of the most yet when aiming to develop lasting wide range sustainability is essential so when awakening every morning being enthusiastic concerning your kind of work is a great suggestion as richard branson once told me over lunch there is no greater thing you can do with your life as well as your work than follow your passions in such a way that serves the globe and also you well that'' s actually among his most renowned quotes yet he did claim something along those lines it had to do with 20 years ago however one point i do keep in mind all the information concerning was the wonderful pastas bolognese he made for me there are many various side hustles you can start such as affiliate marketing shopping coming to be an influencer drop delivery as well as even great old-fashioned window cleaning container cleaning driveway cleaning photography the listing goes on the major takeaway right here is the higher perceived worth you have according to society the much more you will certainly earn money if you do the bare minimum or your service doesn'' t really help individuals you'' ll be paid the bare minimum it'' s crucial to exceed and beyond and give value as best you can to optimize your profits which can then be spent to get to the end objective of your deluxe retired life stage four is producing easy revenue once you have your side rushes as well as earnings in check it'' s time to start considering passive revenue streams side rush money doesn ' t last forever that ' s why you desire easy earnings streams so your money can make more cash while you sleep this is why the rich get richer this phase is everything about multiplying your cash money and also not chasing high returns this is why i constantly speak concerning the relevance of regular long-term spending completion goal is to be on the coastline sipping a great drink not fretting about anything cash connected now i do always say that no income is genuinely passive everything needs a little bit of job here as well as there yet the suggestion is to obtain your cash benefiting you instead of marketing your time there is only numerous tasks you can suit one week as well as that'' s why trading time for money has its limitations i was working a nine to five work plus all the overtime flipping autos on the weekday nights operating in a shop on saturdays and tutoring people on sundays i in fact had no more time to sell to make sure that'' s when i started checking into ways to create passive income with the marketplaces i'' m talking stocks genuine estate as well as cryptocurrencies well perhaps not crypto at that time it wasn'' t around yet i ' m definitely thinking about it now the stock exchange is probably the easiest to obtain associated with specifically nowadays possibly not when i was younger as you needed to contact your broker on the phone as well as do all your trades that method currently it'' s all done on spending applications these apps also have great subscribe bonuses public.com are currently providing you a cost-free stock worth all the method up to a thousand bucks if you reside in the U.S.A. and open market are providing away a totally free stock well worth up to 200 pounds if you live in the uk i'' ll leave the web links down listed below if you intend to choose those up both these applications likewise offer fractional investing which suggests you can spend with as little as 2 dollars this has actually made it much simpler for the everyday financier to get involved in the stock market it'' s constantly a great suggestion to max out your tax advantaged accounts before spending in other places i personally like to put the bulk of my money right into simple inexpensive index funds which are essentially baskets of supplies and like i claimed earlier i like to reduce cash flow so i constantly activate automatic dividend reinvesting cryptocurrency is the 2nd mistake i would focus on as it also has rather a reduced obstacle to entrance with apps like coinbase making it much easier than ever to purchase crypto coins nonetheless it'' s absolutely riskier incidentally coinbase are providing you ten bucks a cost-free bitcoin i'' ll leave the web link listed below if you'' re thinking about that i personally just have five percent of my money in popular crypto coins such as bitcoin ethereum and cardano i think that these are the coins that will stand to test the moment as well as i'' m not prepared to take the danger of betting on a random coin that might flourish like i stated before my method is to get modest easy revenue from the marketplaces and make quick money from my companies realty is the last on the listing and this is truthfully the holy grail of wide range structure however it is a little harder to get right into if you'' re able to conserve sufficient for a deposit on a rental residential or commercial property after that you can actually start unlocking the power of utilize this is since you can get a lessee to lease the home which ought to cover the home mortgage or while hopefully the residence enhances in worth you'' re basically getting your house paid for by somebody else undoubtedly the earlier you can do this the earlier the financial debt will certainly be paid and also the house will certainly be your own utilize is an impressive tactic made use of by great deals of rich individuals but it can be really unsafe if not done properly this is since you can come to be over leverage which means if things spoil and also you can'' t satisfy payments your residential or commercial property might be repossessed most individuals won'' t tell you this yet i ' m mosting likely to be sincere this step-by-step strategy will certainly be hard to achieve if you wear'' t take your very own campaign and start a revenue producing side hustle it'' s still feasible with a nine-to-five work yet possibly not in seven years unless you have an incredibly highly paid job that is also secure a nine-to-five isn'' t in all poor it ' s just many individuals require a side rush to kick-start that riches structure also just a warning for me this is not gon na be very easy any individual that tells you or else is existing to you you'' re gon na have to knuckle down like i did and also function hard for a couple of years to have a lifetime of freedom besides if it was easy after that every person will be doing it when you strike your very first barricade as well as i'' m certain you will certainly simply believe of it as a difficulty to get rid of and not as a complete calamity this plan will just function if you remain consistent as well as disciplined i'' m positive that after you get to phase 4 you should be in a respectable location to attain monetary freedom as well as retire early so i'' m going to leave the following video right up there however wear'' t click it right now ensure to subscribe if you desire to grow your wealth and wear'' t forget to get your free supplies as well as bitcoin with the web links listed below alright i'' ll see you over there
How To Retire Early? (Young And Rich: Is It Possible?)
Harvey 0 Comments Retire Wealthy & Wise
Hey, what's up? John Sonmez here from simpleprogrammer.com. Tired of pushy recruiters sending you LinkedIn requests for jobs you have no interest in? Tired of blasting out resumes into the dark? If so, you should check out Hired.com. Hired.com flips job searching on its head by having top employers like Facebook come to you after you fill out one simple application. You also get your own job coach to help you on your next job search. If you haven't checked it out, I highly recommend you at least fill out the application. Just go to Hired.com/simpleprogrammer. When you get hired with Hired, you'll get double the normal sign-on bonus for using that link. Today we're going to be talking about real estate.
Yes. I have done some videos on real estate. Some of you are like, “What the heck? Why is this guy talking about real estate?” Well, I've done fairly well in the real estate realm. If you're interested, you can always check out my playlist on real estate investment and investment in general. I'm not going to go into all the details here, but occasionally I like to answer a few real estate questions on this channel. I got one here from Jonathan and he says, “I'm 21 and set a goal that I want to retire by 40 to 45.” Cool. “With 20K of passive rental property income.” Man, that's awesome. I like that. I love that goal. That's a good goal. “Currently saving money to buy my first property and hopefully, when I get a web development job I can speed up the process. My question is how do I plan for this goal?” This is good.
So, 21, Jonathan is 21 and he's thinking this way and he's got this plan by 40 to 45 to make 20K of passive income from rental properties. I love this. This is great. “Thanks for everything you do and have a beautiful day.” I am having a beautiful day. Thank you, Jonathan. “P.S. I was thinking of buying a duplex and live in one and I rent out the other one so basically the tenant pays my mortgage.” So, okay, there's a lot of ways to approach this. I think Jonathan has got his head screwed on right. Well, I'll start with the last, the P.S. of renting out a duplex and living in one side. I think that's a great idea. This is a fantastic thing. More people should do this. A lot of you young people out there that are thinking about renting or buying a house, consider buying a duplex and renting out one side and if you find the right deal which—it's out there, you could actually have the renters pay your rent.
You see what I'm saying? You could actually live for totally free by having a duplex and renting out one side. I'm not going to say it's going to be super easy. I'm not going to say that those deals are everywhere. It depends on where you're at. You're not going to find that deal in California or New York, San Francisco, not going to happen, but if you're in the Midwest you might be able to find that deal. I've seen it before. I think that's a great idea, but let's talk about the plan. 21, you want to retire by 40 to 45. You want to get 20K of passive real estate income. It's not going to be easy, but it's certainly doable. What you need to do is you need to calculate backwards where you need to be and have a real solid plan for this.
I can give you a general outline, but I haven't run the numbers so I can't tell you exactly. There are going to be some factors in here, but you actually need to take a spreadsheet and actually need to calculate this and figure this out. It's going to be fairly complex, but you don't have to be super detailed. You can kind of ballpark this, but you do need a spreadsheet. You can get some rough answers here, but calculate this out, 20K of passive income from real estate. Let's say 45. What does your gross need to be? You're going to have expenses, you're going to have rents, I mean you're going to have property management, you're going to have a bunch of things here. That can give you an idea of what kind of wrench you need to be pulling in. It's not going to be a 20K wrench, you're not just getting 20K. It might be like 30 or 40K a month of rents. In order to get 40K a month of rent how many properties do you need and how much will those properties cost? How can you divide that over time and put inflation into the equation a little bit here over that period of time? Work backwards and make a spreadsheet and run some scenarios.
This is going to take time and some planning. Like I said, you can rough ballpark it. If I were just going to give you what I think would probably work for you, it also depends on how big your budget is. How much money are you investing every year? How much money do you have to invest every year. If you can put 10K down onto a rental property every year that's different than, “Hey, I've got 50K to invest in real estate every year.” That's different. Or 100K. Those are all different scenarios. What you're planning based on your current scenario might—there may not be—there might be this gap and you might be like, “Well, how do I get there?” It might not be apparent.
You might have to do some other things. You might need to make more money in your job or start a side business in order to fuel that. I had to do that to reach some of my real estate goals. Think about that and calculate that out. I'll give you kind of a rough timeline, a rough plan that I would have if I were you which would be something like—and this was the plan I initially developed when I was doing this which would be to buy one property every year, regardless. The nice thing I like about this plan is that it's scalable.
The size of the property depends—is dependent upon how much money that you have in that year. When I first started in real estate investment when I was close to your age, I think I bought my first house at 19, but I really started doing investments around 21 and started this plan of buying one house per year. I think the first house that I bought I was able to put $10,000 down. It was like a $100,000 house or $120,000 house. The next year it was probably about the same and then probably like the third or fourth year I had more money. I was able to put $20,000 or $30,000 down. I got to the point where I was buying properties and I was putting about $20, $30, $40,000 down every year on a property when I buy it. Some of that was because of the real estate that I was already making me money. Some of it was because I was making more money in my job and I had businesses and side things going on which helped me to do that. That's the kind of plan that I would—it's not going to happen magically. I think that's the key thing. You actually have to have a solid plan for this and you can run these numbers and calculate this out.
There's actually a really good book that I recommend called The Millionaire Real Estate Investor. I think that's by Garry Keller, the founder of Keller Williams if I recall correctly. I don't recommend very many real estate books, simply because a lot of them are crap. The reason why I'm really going to recommend that book to you is because it has these charts that show you—it gives you a realistic expectation over 20 years what the value of a property is likely to be, how much money you're likely to make from it, cashflow and all that. Again, it's as complex equation. You're not going to be able to nail this down perfectly, but at least if you run the numbers and you do the best job that you can, you can have a ballpark idea and you can always adjust the plan. You've got to have—you've got to know where you are and where you need to go in order to reach these goals. I'll also recommend for you—I have a course that I created called Simple Real Estate Investing for Software Developers.
You can check that out here. If you buy that course, obviously it has a money back guarantee on it, but that's going to help you to give you the basics of everything I know about investing. Just to give you a background, I have about 26 rental properties. They are all paid off. I started investing when I was 19. I kind of know what I'm talking about here. I don't give a lot of bull shit advice about this. I give you exactly—practical advice on how to get started and how to do this.
The reason why I created the course, even though it might not seem like it goes along with a lot of my other content, it was just simply because I was tired of so many people giving BS real estate advice and doing all these kind of scamming, no money down, speculative moves that just doesn't make sense. You need some kind of practical advice so that's what I put together there. Go check that out. This is good. I think you've got a good plan here. You just need to develop the plan further and it's going to be very dependent on your individual factors and—I think you have information though to say, “Okay, can you do this in 45—by the time you're 45?” absolutely! I believe that you can. It's not going to be easy, it's going to be hard to do. 20K is a pretty big number but it's certainly possible, but you're going to have to start moving now, which it seems like you're going to do, and you have to have a plan and it's going to take a lot of work and a lot of effort and you got to find good deals in order to be able to do this in that time frame.
All right, I hope that is helpful to you. If you have a question for me, you can email me at [email protected]. Don't forget to click the subscribe button if you haven't already. Click that Subscribe. Click the bell to make sure you don't miss any videos especially if you like the real estate stuff because, hey, those videos might not show up and then you'd miss it and then you wouldn't find out the secret to life and how to make millions of dollars. All right, I'll talk to you next time. Take care .
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Read MoreHow to Retire by 40
Harvey 0 Comments Retire Wealthy & Wise Retiree Tips and Tricks
Hey everybody welcome in on this snowy snowy Wednesday wherever you're joining us from let us know where you joining us from today hey everybody welcome in to the investing in real estate show today we're gonna have some fun talking about how to retire at 40 how to retire by 40 Sean says hello from Brooklyn New York how much snow are you getting out there Sean we get this massive nor'easter once again and once again so the kids are off school just I'm over it I am over it I know there's gonna be people are there I'm right in here and say they're there joining us from there out in California and they're living living large yeah Aaron is running us from Miami Florida there you go Wong from Miami thanks so much rub it in rub it in rub it in everybody so we're gonna get this show started in just about three minutes South Africa Indianapolis Moses welcome Pottstown you're getting hit with some snow right now Matthew Bishop Lakeland Florida hey Matthew yeah I guess California you guys are getting hit with some crazy stuff out there today too huh yeah they cancelled school last night I don't know I you know growing up I don't ever remember them canceling school like the night before did you guys ever have that growing up it was like he'd wake up and he would sit and listen to the radio and you would wait you know I was in Pennsylvania I would be all be waiting to listen for our school if it was canceled I'd be in one-hour delay a two-hour delay and you were hoping that they would cancel it but I never had the night before they send out a text message letting you know that hey your school was cancelled and that was never the case for me never never did you do all right we're gonna get started in just a moment here it's gonna pull up this today we're gonna talk about how to retire by 40 and we'll start here in just about one minute one minute one minute Jerome aramid says hey a guy you talked to me more than two weeks you never came back to me you can take care of this later I know you're alive nobody emailed me the first appointment Jerome who did you talk to on my team let me know and we've got some people in from our team right here in the chat thread as well we can Mike you know a lot of times people will send follow-up emails it goes to your spam folder sometimes people when they initially signup for phone calls with our team they put in the wrong phone number and then they later writes it well I put the wrong phone number in and so our team will be calling and they can't get ahold of you so I apologize for that and Rudy Rudy please check your spam folder please please please because our team is very good about follow-up and we have hundreds of clients around the world so I apologize for that you know because if someone sends you a PDF it might go right to your spam folder and then you're like oh I never emailed me just check your junk folder and who are you talking to please let us know we'll make sure we get you all squared away we have a waiting list for people to get on the phone with us for like a few weeks so I don't ever want anyone to feel like we don't get proper follow-up from our team that's very important so I've got our team right now who is in our chat thread we'll go through and make sure that we get you all taken care of so I apologize for that all right so we are live it is it is a.m.
And we're gonna kick off the show after the show I'm gonna do you know to talk about this article talk about how to retire at 40 and then after the show we'll kind of open it up for a few minutes of Q&A if that works for all of you and we'll just kind of answer some real estate questions some of the things you're struggling with you're hoping to achieve and we'll talk we'll do that all right Forrest wants to knows are still owners software coming out for Morrison fest yes indeed in fact we've been working on it for for since like August it's all custom it's been a lot of tweaking we want it to just be perfect Peter Cook says I've had very good follow-up thank you Peter appreciate it and James Frederico o1r from our team is right in here he says hey Jerome I got you all reach back out to you and take care of you good good good all right so we're gonna get started here and we're going to talk about this in a second so first so again at the end of the show we'll take some QA and we'll do that as well let me just get this all dialed in we're recording we got the audio up and running is everything sound ok guys you guys can hear me give me a thumbs up you guys are all good Brandon yes absolutely because some of those beat class properties you're asking about the verb method absolutely because you know buying those 60 70 thousand dollar homes those the banks love they're able to do you know easy refinances on those because there's easy comps to pull in the neighborhood because there's retail sales so I would stay away from like the 3040 thousand dollar stuff if you want to really do like a solid brr-brr method stuff if that's what you're looking for all right sounds good alright so we're gonna get started all right all right and let's get this show started all right today on today's show we're talking about how to retire by 40 a news article from the mainstream media it's kind of total garbage that's today's show let's dive into it hey everyone I'm Clayton Morris longtime real estate investor founder of Morris invest if you're new to the channel thank you so much for joining us and subscribing I hope that you're a subscriber because there's where we talk about passive income building legacy wealth for you and your family that's the goal right and the vehicle that we use is buy and hold real estate but I don't care about the real estate right I don't care about the four walls and a roof I just bought 15 houses this week that we're about to rehab okay I don't care what they look like because once we get them it doesn't matter what I'm buying as a tax shelter and that's what you should be focusing on buying a tax shelter that's what this show is all about on today's show I want to talk about how to retire by 40 and I want to preface this by saying that I got this from an email from a listener a viewer of our show who is getting involved in real estate investing Jesse Daley sent me this email and he said hey Clayton I hope you're doing well man I thought you'd find this article interesting especially how the writer literally doesn't mention anything about investing in real estate there's only a one quick mention of a condo adding to net worth and nothing else in this article I'm so happy that your podcast teaches people how to truly invest properly and retire by the age of 40 this they should have interviewed you for this article so thank you Jesse I promised I would give you a shout out here on the show and I want to go into this article so again I have lampooned some of these CNNMoney articles over the past few years have done shows about these things because I just find them ridiculous I find them ridiculous that they're telling people to invest in their 401k and then that's the way that you build retirement that's the way that you're able to retire by 40 years old I mean how many people are you know you just like a show of hands you're listening right now how many of you think you could actually retire by 40 years old just with your 401k of course you can it's ridiculous the average 401k retirement in this country guess what according to Time magazine is 90 thousand dollars can you retire on that no way so I want to go through this article because it's a lot of fun and Jesse sent it to me so these are tips from CNN money on how to retire by forty three proven tips three proven tips so let's go Chris reading isn't your average retiree he said goodbye to his working years at 37 and is now financially independent living his life on his own terms that's great now he had 4500 dollars in debt and when he started working he got through all of that he finally found a well-paying job working cyber security took out a mortgage bought a condo and financed a BMW okay alright took out a mortgage on a home bought a condo and financed a BMW on our way to success but then he started to wonder is this all there is he finally said I can't do this for 40 years in his late 20s he started searching for alternatives and he read the book your money your life by Joe da Menendez and Vicki Robin and he said look there's other ways of becoming financially independent so he then felt that he had enough to live the rest of his life on his savings and investments without having to work again it took two more years of showing up the cubicle for him to be sure than a 37 he finally walked away so what did he do okay here were his strategies here where his strategies for becoming financially independent and retiring at 40 years old number one save more save more okay so his strategy according to the CNN Money article is cut he cut back on going out to dinner and he cut back on buying lattes so he just started saving more really so let me get this straight that's the way that you can sustain yourself for the rest of your life by retiring at 40 years old from your job it's just having enough in the bank you think that you're gonna have if the average 401k retirement is ninety thousand dollars can you really live the lifestyle that you want so now you're cutting back on dinners in order to save some money you're not buying coffee so what Natalie and I've talked about here on the show repeatedly is the idea of not having to shrink your lifestyle why not find out what your freedom number is using real estate find out what your freedom number is and actually have enough passive income every month coming in the cash flows you're creating a tax shelter for yourself and enabling you to live the life that you want so you can't go buy a latte I find that ridiculous you know David Bach wrote about that in his book the automatic millionaire a years ago and look if you're $40,000 in debt yes maybe not buying a five-dollar coffee every day is probably not a smart strategy you know also if you're a smoker you know spending ten bucks a day on cigarettes or whatever it's probably you know not a smart strategy if you want to claw your way out of debt I get that part of it but as a way of sustaining yourself and retiring at forty years old just saving more savers are losers that money in a bank account is doing nothing for you what about buying performing assets that are actually producing cash flow I mean come on so when he says look where people get into trouble with savings that they think they have to use reusable toilet paper and eat chicken broth but real basically you just you'll never spend zero dollars find a level of living that you're come with and work on earning more without increasing your expenses so he's just saying earn more save more cut out lattes and you can retire at 40 I don't buy that for a second number to earn more okay that's his second tip earn more great so let's save more and earn more again a paycheck job the tax code is written for wealthy people the tax code is written for entrepreneurs who own businesses who own real estate that's what the tax code is written for it's not written for a w-2 employee so earn more so what he says is your actual jobs only part of your work in order to earn the kind of money where you can live on only half or less of your salary so take that extra money socket away that's what he's saying so work harder right work for a paycheck get taxed as like in the highest tax bracket by the federal government right because we know that paycheck employees under the new tax code or hurt the worst he says this career-boosting work can include earning advanced degrees oh that's great so his other bit of advice on this is go out and spend a hundred thousand dollars on getting an advanced degree so go get your master's degree that's only what a hundred thousand dollars that's only a hundred thousand dollars right just go get it a master's degree so that's smart so save more earn more by spending more on getting an advanced degree or certifications and then that way you'll have people who will look at you more favorably in the office and be able to elevate you higher that's great so it's important understand the weak areas and he says look I finding mentors okay that's good yes definitely finding mentors as a very smart move finding mentors who can help propel you and then number three he says invest more so he says the most powerful mechanism for investment right now it's built into their job it's the 401k invest in your 401 K and a two or three percent return contributing at the level where you get the employer match is a must and that's your biggest benefit and that's how you can retire by 40 that's the article unbelievable so okay ridiculous right that's how you could retire at 40 no no that's not how you can retire it 40 and that's not how you could live comfortably and live the life that you want and be able to produce legacy wealth for your family for the rest of your life so he's now retired he's living off of savings but he's got no assets that are actually performing for him for the rest of his life he's got a V BMW that he bought financed and he has a mortgage on a condo that he lives in he has no performing assets that is not financial intelligence any way you slice it wouldn't it have made more sense instead of saving that money while he was working for that cybersecurity company to take that money and invest it in real estate by a performing asset that cash flows that's how you control and move your family forward that's how you can build true legacy wealth for you and your family but actually taking money and buying a BMW buying a liability remember all you need to remember is if you're buying liabilities a liability is something that does not produce cashflow now if he bought that BMW and used it as an uber driver that was producing cash flow that's a different scenario or if he rented out that BMW that's a different scenario but I love these I love these articles and again this is all sort of couched around the idea of the mainstream media right the mainstream media wants you to believe that a paycheck employer job is the way to go that getting a 401 K having their company sort of automatically do it for you because you're too dumb to do it yourself have them handle it have them streamline it and that's how you that's how you have a strong safety net we've been trained to believe that being secure is having a paycheck job you know again I come back to the I keep seeing this commercial and I'm sure so many of you have seen this commercial over the past few weeks I saw it first during the World Series and they continue to run this stupid thing where it shows a couple you know they're in their late 60's and they're sitting there with a how it's a Merrill Lynch advisor and the Merrill Lynch adviser says well it looks like the plan worked and you're gonna be able to have that retirement you wanted and I looked at you look on the iPad app that they're handing to the couple and he's like honey we did it we can do it we can live that life we wanted retirement and it shows that their income is enough they're gonna have about seventy thousand dollars to work with like if you look at if you actually look at the numbers on that screen seventy thousand dollars so now they're almost at retirement and then the next clip it shows them in a boat with their granddaughter right there sailing off into the sunset like some small little boat with their granddaughter and the little girl says aye aye captain you know and she she's driving the boat so this is their retirement they finally did it right they had a wait till they're 70 to buy a boat and to be able to sleep in and spend a little bit of time with her grandkids be all because they had their month their money managed by a financial advisor that was taken out big fees and investing in a stock market and not investing in real estate and cash flowing assets so there you go that's my frustration there you go that's my my little my little two cents my little rant about these types of mainstream media articles and when you see them on TV just roll your eyes think about it for a second saving more earning more get an advanced degree spend $100,000 on a master's degree and then use a 401k that's how you're able to retire at 40 that is total garbage that is total garbage unless maybe the guy wants to go live in like Thailand by himself with no kids and he wants to live like in a hut somewhere for the rest of his life and he doesn't care about actually having any income or cash to be able to buy anything or any food or live the life that he wants I find it to be total garbage I'd love to hear your comments and your reactions to this please send them to us and I really thank you so much so that's gonna do it for that and thank you so much for subscribing to the show I really appreciate it this is the investing in real estate show you can please subscribe share it with your friends and and you know please go out there take action become a real estate investor because I believe it's the number one way to build wealth we'll see you next time everyone all right now with that that's the show so anyone who wanted to get just the shortened version of that but hey now we're gonna open up this agree to some Q&A here in the show we got so much so I saw so many chat threads coming through here asking questions alright so fire them up here alright alright Joel says I've also had an email a few times hit reschedule my call but no response and said ok Joel no worries we'll get you all straightened out I apologize like if people miss their phone appointments cuz like I said we Deanna with our team we have like calls are booked out I think about two weeks and so if we call them like goes to voicemail and then we're trying to reschedule it so we really try to make sure we can get on the get on the same get on the same on the same page Jinger I'm sorry again what's going on Jinger we'll get to the bottom of this so I'm gonna make a list of anyone who didn't get a call back so I apologize alright so can you guys tell me Arum says Glen and Nicole from your team have been great awesome ok so we will dial some of the stuff in ginger and I'm sorry I will get some of these people on your on your team to make sure we get it all taken care of thank you guys let's see all right you know I'm glad you're not upset no I just you know we if sometimes emails get back and forth and we're trying to make sure that everyone gets taken care of okay are Tuffle get you back on your property okay let's the ad tapper says what do you think about joint ventures they have the money I do appraisals marketing and brother does the renovations hey jayvees are great right you need to build a great team for real estate investing that's very important you have to have a great team to do real estate investing well Kelly just uh Kelly Cheatham says I want to hear more about your program great just booked a call with our team Kelly and Morris invest comm we're doing some great things and I'm really excited about some of the new properties that that we purchased that we're about to do we've already designed our contractors to dive in and start rehabbing see Charlie 18 says our new Hara Sean wants to know one of the price of the new house is being built our new houses the three-bedroom two-bathroom right around seventy seventy thousand okay Charlie eighteen I'm gonna answer this question how does it LLC save you on your taxes on your rental how does it LLC save you taxes on your rental properties a lot of the stuff I've been reading times about pass-through income I never thought I thought that that was taxed the same way as a sole proprietor yes however remember that under the new tax law as a pass-through entity as a pastor entity you're now getting an additional 20% deduction 20% and remember when you have your your properties in an LLC you're being taxed as a business and you're able then to depreciate spread that money over all those other your w-2 income and those other things so I've just an all series of videos on understanding tax shelters and remember what you're buying as a tax shelter so forget about buying real estate you know I have talked about Lane I like for repairs so repairs add to your tax shelter helps mitigate your overall cash flow because remember what you're buying in the beginning in a 3-stage is a real estate investing right buy own and cashflow what you're buying in the beginning you're adding to your net worth so I don't care about the cashflow necessarily until years later but you're buying and adding to your net worth you're creating a tax shelter for yourself you're able to mitigate your w2 income you're able to offset all of those things so I would love to hear what you guys thought about today's show and the article please let me know I'd love to hear you which you you know what you thought about that Kelly are speaking of the computer program Oh Kelly yeah we're building a personal owner portal for our clients that the software I mean it's just it's and make it much easier so that we don't like our team doesn't have to send out Purchase Agreements it'll be right there because we have so many clients it like we'll have like three or four clients and want the same house and so a little like yeah give you a purchase agreement and it's kind of like first-come first-serve and then our team has to send out a purchase agreement wait till it's signed and all that BS so this will make it very easy for them to be able to click right on it and then open up DocuSign and be able to do it and pretty great Ryan Millie says okay what are the mechanics after purchasing one property to purchase another property or two and repeat the process over and over again where does that money come from well ideally it could come from a bank right or it could come from private money it could come from you know we we talked about a company that we work with called fund and grow less you know if you go to our if you go to our website Morris and vest com slash funding you don't pay them any money until they actually if they get you money zero percent Interest but why would look at okay so let's just take the mechanics of that to answer your question so I would say you know buying like a sixty seventy thousand dollar rental property and then leveraging that right so maybe putting or or if you have the cash to do that right that ideally if you could come out of the gate you have the cash to purchase your first one free and clear that's more of a B Class play you know that's sort of B minus like 60 65 70 K place play that's kind of maybe you know it's transitioning up to sort of an a-class neighborhood and it you know coud appraised in a few years at 80 or 75 that's the play right so buying that if you could buy that with cash right and then refinancing a pull some equity back out of that and then be able to roll that next amount of cash the bank just gave you into your next property into your second property and then into your third property a buddy of mine here in New Jersey started and did that on an eighty thousand dollar property he now has over two thousand units here our DNA and money when he started and he bought that first property that first property allowed him the snowball and all of these other properties and identity jjh yeah unfortunately JJ was said you purchase second property in Indy in November we'll hopefully get an answer for you an update on where we're at with the rehab and we'll also make sure we connect you with the right management team if you're having some issues you know we work with a 8 different property management teams so what gets you sort it out so just you know email our team you know the team you know our team at Morris invest email us we had a really really really unusually harsh winter that set us back about four or five weeks on construction this year with like a deep freeze we had stuff all the way through Michigan into Indiana down into Pennsylvania where we just had all kinds of problems Ryan you are absolutely welcome thank you so much Sean says you weren't able to pull cash off the cards they got through funding to grow yeah that's unfortunate we have literally funny grows enabled our clients to raise over 20 million dollars for purchases of real estate so I'm not sure why that person had an issue they're very very good at walking you through step by step I just would say reach out to them and make sure that you're working with them they they have a thing with gold money so basically they use the cards to buy gold and then you transfer the gold into cash it's like a little bit of a few hoops to jump through but hey it's 0% interest for a year you know hey beggars can't be choosers right we were able to get a hundred and seventy six thousand dollars in cash because of them in order to purchase real estate so it's an amazing strategy so again and you'll save like five hundred bucks if you go through our website because we've asked them to do that for people who watch us and who listen to us so if you go to Morris invest com slash funding check it out it might not be for you if it is great just check them out you know I have a phone call with them Joe Joe wants to know what appliances do you provide actually I don't do any appliances in our properties now that is to say if we move into some of the b-class properties we some we will sometimes put in a fridge and stove and things like that but far as a washer and dryer we have I made that mistake when I first started in Michigan I bought all appliances and found out that I didn't need to that it's commonplace that tenants will provide all of their appliances they will usually typically go down to a local you know like a little scratch and dent company etc or that's where I bought my first appliances when I had my first condo in Florida I went to a local scratch and dent place they're brand new that may have like a tiny little little scratchy scratch on the side and you get a great deal on a bundle of appliances so that's what most client most tenants will do and then they'll keep them for many many years so you don't have to worry about it so Daniel wants to know what's the fee for you guys to do investing for me there is no fee with us at all I know some other companies charge like ten percent all that stuff we don't do that you're just buying the house we just you know and try to get it all stabilized for you with property management team and cash flowing so you don't have any additional fees you own the property free and clear Jimmy says how do you organize your banking system for your real estate business great question Jimmy you know we have a couple of podcast episodes Natalie and I do where we talk about how to run your you know your family business and finances for real estate investing if you want to check out the investing in real estate podcast you can do so and we have some of those episodes you know the short answer is that you want to have bank accounts set up for your taxes you want to have bank accounts set up for your LLC that owns your rental property and personally so I have LLC's that own my rental properties those LLC's have their own bank account so when the cash flow from the tenant comes in I Clayton Morris don't touch that money that goes into the business then I can pull that money out but you can't commingle money like you don't if it's a business that owns your real estate you don't want that money coming in to your personal bank account that's called commingling that's illegal the IRS does not look favorably upon that so you want to do everything aboveboard making sure that everything is flowing the way that it should Bobby yes what's the best way to start a property management team no cash but at the time and looking to help investors well I would say to start a property management company takes about a hundred and fifty thousand dollars I know this to be the case so right away to be spending one hundred and fifty thousand dollars to set everything up okay you're gonna need you're gonna need to pay for software things like rent manager appFolio those types of things you're gonna want to hire an accountant you're gonna want to hire an office manager you're gonna need to hire leasing agent you also need to get a brokerage right you need to have a brokerage license to make sure that you can manage property so all those things cost some money so to start a property management company that's what about that's what it roughly costs and then about if you have more than 100 properties the rule of thumb is for every hundred properties or so you're gonna want to add another human being to your to your company to facilitate those properties that came to me as a friend of mine who ran his own property management company those are the exact numbers that he used James wants so what's the area oh it's just on the website to find the gold funding option so just go to Morris and Vess comm slash funding it's sort of a hidden page because we don't like promote it but it's there if you sign up like I said you'll save 500 bucks once they get you the money you don't pay anything until they get you the cards Peter said spoke briefly with your guy Justin have a self-directed IRA I was interested that was a month ago he was going to keep an eye out for a property and haven't heard back Peter I will follow up with Justin or you can just you know feel free to reach out to Justin as well from our team because we we can set up a whole dashboard for you for the self direction so I'll make sure that Justin gets back to you Peter I'll have our team make sure we go through this comment thread to take care of it okay how can you cash out on a $40,000 property well so $40,000 homes are tricky because banks are lazy or appraisers are lazy so a bank is going to hire an appraiser to go in and they're going to those types of properties they're being sold every day to investors like I might buy thirty of them right but guess what they're all off market so they're not being sold on a multiple listing service like you buy a house for a hundred thousand right with a realtor and so when an appraiser goes to pull comps in order to appraise the property they don't have any comps to work with the only cops they have are ones that are on the MLS the ones that they end up pulling end up being ones that are like foreclosures or pre rehab so you might have a forty thousand dollar house and you know it's worth forty forty three forty two but they might appraise it at twenty because the only thing they could find that sold recently on that street was a foreclosure that's not been rehabbed yet so you can't you kind of at a crapshoot if you're planning to do a refinance here's my suggestion it's just move up into those sixty sixty-five seventy thousand dollar homes and then you're putting like you know then you're able to pull almost like the full equity out of that house or close to it if the bank then cuts you a check for fifty fifty five great then you can roll that into your next property so I just would say told code don't try to go super cheap if you're planning on doing a refinance banks are lazy and you're frankly just at the mercy of these banks you know I can pull up sales disclosures with hundreds of sales where the house is selling for forty three forty five but guess what the appraiser will not look at that and so then you're at the mercy of like a foreclosure that's on the Multiple Listing Service and unfortunately it's it's just difficult now we've had people who've done refinances on forty thousand dollar homes and you know like one of our clients recently bought one for forty three it appraised for fifty five but again it's a crapshoot he could have just as easily had the appraiser come back and say you know well we think that house is worth twenty two so remember what you're buying is cash flow when you're buying that low and you're trying for that high of are a lie you're you're sort of like the investor that's buying 50 properties like that they don't care about ever refinancing they just want the ROI they want the cash flow I hope that makes sense sure our Lara says I've got a shooter I think I missed it sorry zip past it Ahmad it's kind of invest the United States if I'm not a US citizen yes you can you know just book a call with our team we have people I mean we have a lot of investors Canada and New Zealand all over the world who invest with us do I see Florida getting to California prices within 10 years seeing a lot of new construction and price hikes there in Tampa yeah a lot of those coastal areas you know Tampa those types of places Clearwater Miami of course I don't see them getting to California craziness you wanted let me tell you a California story the reason it's ridiculous so like the same house that I might do in Michigan or Indiana and then our clients would buy maybe like a 3-bedroom 1-bath in the $50,000 range right well there was a 3-bedroom 1-bath last week on the market in the bay area for $900,000 and guess what it was condemned it's a condemned house selling for $900,000 in the bay area that's California it's crazy absolutely crazy Mario says I was thinking about buying houses in my name under a HELOC on my primary residence and then when I get to three to five houses to a portfolio loan and all three to five and an LLC is that okay yeah I mean but why would you need to buy them if you're using a HELOC to buy them just buy them in an LLC now you know there's no reason you should buy them in your own name at all ever buy them buy them in an LLC if you're using the HELOC it doesn't matter how you use the he lock key lock is cash right you could go out and buy a boat if you wanted to with your he lock the bank doesn't care you're just writing a check from your he lock so why not buy them in your own name now I've started buy them in an LLC today you're using the he lock on your primary residence it doesn't matter the bank doesn't care what you're doing with that money you just have to pay it back but I to me having a HELOC is one of the killer strategies I love a key lock on my primary residence I use it to buy properties all day long Michele says what are your thoughts on using quicken loans to buy a house I've never done it you know hey if you can get good rates and good terms from a bank to buy to buy a house great go for it I don't see why not video teaching can you recommend a bank for a HELOC on a New Jersey property lakeland la ke Lakeland Bank we love them they're fantastic smh ninja on the funding Grove fees no notice he you're refinancing very quickly so you're gonna refinance very very quickly by that fifty sixty thousand dollar home and then get it into a long-term 30-year note and you pay off the you pay off the zero interest credit cards and then you recycle them so that's what fund and grow does they recycle and get you more zero percent and then you can just rinse and repeat that's why it's a great strategy so you're not keeping those cards for you know with like you bought a house on a credit card for twenty years you're refinancing it within that first twelve eighteen months and yes you can quit claim deed you can move a property to an LLC Kevin wants to know thoughts on an umbrella insurance versus LLC well that's well I say you have both I mean I would definitely have insurance and also have your properties in a limited liability company the reason you have your properties in a limited liability company is so that people will come after you personally that's the key right you don't want people if tenant slips and falls because a handrail wasn't fixed on your one property and this happened to a buddy of mine in Philadelphia he has a property and a girl was drinking one night she came home to the condo she slipped outside because the sidewalk had like this much of a differential and sued him fortunately you know he had insurance but fortunately the case got dismissed or dwindled down where he only had to pay like seventeen thousand can't come out of pocket seventeen thousand to pay for this girl slipping and falling at his property because he had the property at his own name so don't put properties in your own name if you don't need to there's no reason to forest so to have a bank you recommend for refine 50k rentals I guess it just depends yeah I mean there's a couple you know State Farm actually the insurance company has a refinance program a national program Northpoint Bank all one word with an e at the end North Point also has a refinance program they're a national company as well you could look into them Daniel says how do you tell if a property is a B or C class that's a great question I've got a whole video series here on our YouTube channel about how to understand that so you can if you want to look that up right here on the channel it goes more deeply into that but the short answer is an a-class neighborhood I like to avoid an 8 class neighborhood or those two you know two hundred three hundred thousand dollar homes two-car garages maybe they have a swimming pool they're in the best neighborhoods I stay away from those as an investment property because you're gonna have the most moving parts that break you're gonna have the most entitled tenants that cause the biggest headaches and cause you the biggest problems so garage door openers that break garbage disposals that break multiple heating and air systems that break you know avoid those those also have the most volatility those tend to be the areas where those in a big recession lose their job the a-class neighborhoods we saw that across the country right these a class neighborhoods where people lost their jobs and all these houses went into foreclosure and people couldn't pay their rent or the value plummeted significantly so let's say they're renting it from you for $3,000 a month in an a-class neighborhood and everyone loses their job all around that a class neighborhood now the rent is you know you're gonna have to go down like 20 2022 hundred a month or even 1800 a month we saw that in Manhattan right people renting Manhattan apartments for thirty five hundred bucks a month the recession hits and guess what all these Wall Street people lose their jobs etc and those went down significantly you could rent a place in Manhattan for eighteen hundred a month instead of the 35 that you could before the recession but guess what those C class neighborhoods say the same those C and B class neighborhoods roughly stayed the same it's consistent cash flow those are the people that tend not to lose their jobs those are the people that are working blue-collar b-class is kind of moving towards an a-class it has better schools slightly lower ROI but I've been buying a lot more B class properties lately personally because you know when you get to a point of having find enough cash flow you really want to start thinking about buying those more expensive B class because you're creating more of a tax shelter for yourself you're creating that bigger spread that bigger tax shelter and you're adding to your net worth more significantly so but C and B are my favorites so I've been a lot of C and I'm starting to buy a lot more B yeah lisa says that's why I like condos no outside maintenance but then I don't like the associations right I do not like HOA fees and I've got a whole video on HOAs because HOAs honestly you're sort of at the mercy of these people I mean you're literally at the mercy of these people and you never know when they're going to decide to change the bylaws and make it so that you can't rent the place or they're gonna hit you with a big roof assessment you're gonna have to pay you know $5,000 for a new roof on the property you have no control over that so homeowners associations I'm not a fan of Daniel we don't we don't have a number for you to call us because we want to be able to schedule it with you so just go to our website click on the schedule a consultation button you literally answer like eight questions like your first name last name best email address to get a hold of you make sure you type in your phone number correctly and then we just ask you a few quick questions like how many properties do you currently have what are your goals and then you pick on the calendar the time that you want to schedule a call with us it's very simple so it's up to you you know that you got the kids from to p.m.
We don't write so we want you to pick the time that best serves your needs it'll go on your calendar we'll send you an email reminder about ten minutes before your call and we'll jump on the phone with you and talk to you for like thirty minutes Chad boys wants to know how is Capp West you know I heard good things about them years ago but then I think I heard things kind of fell off and I haven't really actually heard many people using them so I don't know I've never used cap West what if you want to live duplex a class neighborhood your thoughts well Rodney I mean some few if you want to live in the property that's up to you right because that's a different animal than investing in a property but if you want to live in a duplex than in a class neighborhood great you buy it I would rent out the other side so that they're paying your mortgage that's an investment right that's an investment property in a class neighborhood so you know go for it you know just a matter of whether if you're in an a class neighborhood are you likely to have a higher turnover on the rent because people want to have their own single-family home they might not necessarily want to split a house with somebody if they're in a class neighborhood you know when I was younger I was fine kind of having a shared wall with somebody but now that I've got three kids and I'm an adult there's no way I want to share a wall with somebody else you know I want my own place I want my own yard what do I think about a land trust well it's funny you mention that as our tax accountant thinks that they are a total mistake so I do not do anything in the land trust sam says I spoke to Glenn a few minutes ago awesome
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