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Things We Wished We Knew Before Retirement

Well it's great to be with you all again it's 
another video day for us – It is – So things that   we wish we knew before we retired almost 
sounds like a country music song there Tina   – And I guess you must be feeling lucky 
today Norm – Oh yeah got my lucky shirt   on so because we're filming been to 
Costco – Got the great deals haven't we   – We have so one of the things that we wish we knew 
before we retired was how free it is how stress   free no longer having to get up and go through the 
morning ritual of preparing yourself to go to work   and being accountable to somebody else all 
day long it's wonderful to be accountable to   your own self and your partner that's it 
you're your own person and it's such a freeing   feeling and we saw that with Tina when she gave 
up work the amount of stress we hadn't realized   until a few years after retirement just how 
different she was she'd lost all that stress of   meeting quotas and all that good stuff – And I think 
I'll just add Norm that when you're actually doing   the job you actually don't think it is stressful 
you don't think you are under all this   stress until you stop it do something else and 
you think wow this is a lot better we like this   it's great so just being accountable to ourselves 
we love it don't we – It is totally life changing   – One thing that we do think is very important 
before you retire is you do need to have a   discussion with your partner as to what it is 
that the ideas that you're both thinking you   have when you're going to retire you do need to 
have some goals about, do you want to travel do   you want to garden or do hobbies do you want 
to stay home you really do need to have that   conversation to make sure you're both on the 
same page – I think it is it is important and   we hear a lot from some comments especially 
married women who are saying that their husband   their frightened the husband will get under their feet 
because he'll be hanging around all the time in   retirement but that really isn't the case – Not 
for us is it – We've been secure as a couple for   the longest time and retirement hasn't changed 
how we feel about each other and about what   our expectations of each other is it's not as if 
we've all of a sudden being locked up together in   retirement (no) so it is important to figure out 
what you both want out of retirement and to have   that discussion a few years before you actually 
do retire (yeah) one thing to bear in mind is   the first few years of your retirement you'll 
be your most healthy so just use that health and   strength that you do have in the early years 
to achieve some of the goals that you want   – Yeah and if you want to be traveling do it while 
you've got that – Don't think about traveling if   that's on your list just do it right away – Yeah 
absolutely and that's what we've done isn't   it when we retired we just traveled everywhere 
didn't we it was great – About two years before we   retired we had an inspector come to the house 
for I don't even remember what it was but it was   some form of home inspection that we had to and 
so we got chatting with him because he was a few   years older than us but not that much and he told 
us that he had a house very similar to ours that   he had sold and now he was living an apartment 
and he went through the whole process of them   and how they moved to the apartment and how 
it was such an improvement on their life   and it was something we'd never ever considered 
– This was big news to us wasn't it we never even   thought about renting an apartment – We had been 
homeowners since we were 19 years old so to rent   we had that preconceived idea that it was throwing 
money away but the more that we looked into it so   after he left the next couple of days we spent 
many hours thinking about this we did a budget   of how much it cost to keep our mortgage free 
home – Yeah crunched all the numbers – And what the   rent would be and if we had sold the house and it 
made more and more sense to us to sell the house   to downsize into an apartment bank the money 
from the house live off that as an investment and   that's what we did – And that's what we did didn't 
we – But had that guy not come to our house we might   never have come up with that idea – No because 
originally we had thought that we would just   buy a smaller house didn't we – That's right yeah 
– So part of our decision when we had actually now   decided that we were going to rent and we realized 
that would take care of we wouldn't have all this   maintenance and stuff like that to do we decided 
after we started looking at apartments that if   we moved to a cheaper area could we benefit by 
getting the same as what we wanted in an apartment   but would it cost us less money so the more 
we looked into it we did have a family member   who lived in a cheaper place so we looked 
at the equivalent of renting an apartment   in this new place and it was so much cheaper 
wasn't it Norm – Because we initially thought   we would just sell our house and stay in 
the same area so we started shopping for   apartments to find out how much they cost and the 
availability and we were pretty surprised that   at the expense of them but we were prepared 
to pay that (yeah) and then we came to a what   you would call it a small town that's cheaper 
(yeah) we came to visit a family member here and so   we started looking around at the apartments here 
and they were substantially cheaper about $800   a month cheaper than where we were initially going 
to – Yeah and not only that Norm there was a lot of   extras with it wasn't that we got there was 
underground parking and what else a swimming pool   – And laundry facilities in the apartment – And that 
was one thing the gentleman had told us he didn't   have on-suite laundry he had it in a laundry room 
so we wanted that – But coming to the cheaper town   it wasn't just the rents that were 
cheaper everything was cheaper   the Tina's hairdresser as we've 
said in the past was cheaper it just permeated everything so our budget became 
so attainable (yeah) by moving – That gave us a lot   more money to be able to travel didn't it because 
we thought if we can save money on a daily basis   and it worked perfect didn't it – It did it was 
great, take a look at that if you do have family   that live in an area that might be cheaper or 
just consider going not knowing anybody – No it's   like a new adventure isn't it a new chapter in 
your life because we've made friends here and   they don't have any family just here but they've 
made it a new place for them haven't they – A lot   of people have moved out of the big cities to a 
small town because it's it's far more conducive to   retirement (yes) and friendlier another 
thing that you really need to consider   is where your friends are going to come from 
in retirement because once you leave work   those friendships tend to wither away because 
the only common bond you have was your job   your workplace so we've never 
really had lasting friendships from   work colleagues they've always been outside 
of there so it's it's critically important   to continue looking for friendships in retirement 
and being outgoing and prepared to speak to people   Tina when we moved to this apartment building 
they did have a social room and they did a coffee   morning and so she would go down there and we 
found out so much information about the town and   businesses to use – It was great wasn't it – It was – It 
was kind of my mission wasn't it to find out   new information and to try and make new friends 
which we did and we made some fabulous friendships   – Well in particular there was one couple that Tina 
made struck up a friendship with and they in turn   have introduced us to another couple yeah and then 
they in turn have introduced us to another couple   so that's how it goes – Yeah so now we've got 
a group of really close nice friends that we   socialize with don't we – And the thing that we have 
in common isn't an employer it's being retired   – It is isn't it – It really is so don't be afraid 
of striking out to a new city a new town   because it's relatively easy to make friendships 
– Yeah you just have to push yourself out there   a little don't you and be confident to going to 
things and it's very exciting isn't it so we hope   that everybody is staying safe – And keeping 
well – Until the next time bye bye, bye bye

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Top Tips for How to Live a Long, Happy Life in Retirement

time and again we hear about the dangers of smoking unhealthy eating and drinking too much alcohol we know these are unhealthy habits and they put us closer to the Grave that's why if we want to live longer and you want to live longer and happier we need to understand that we need to possibly make some changes to our lifestyle so our question for you today is do you want to start changing your lifestyle in order to live longer if you've said yes keep watching we all know people who lived a hard life they either had a rough time at the end or they died before their time and my dad was one of those guys who died before his time he had a great career he was a wonderful role model and he was a fantastic business leader he was also a marine and that gave him that dose of feeling indestructible but he aged really fast once he retired he ate poorly drank way too much and he quit moving his body you know he died at 80 and I believe had he done what we're going to talk to you about today I believe there's a good chance he'd still be alive which would be nice today we're going to walk you through some tried and true healthy lifestyle habits and behaviors and if you apply these right now as you get closer to achieving your healthier happier life you may live longer what's the first one what do we want to talk about first the first one I feel like we talk about a lot but you can't hear this enough we all love eating but eating a balanced diet is critical to a healthy lifestyle the question right now is what type of food are you eating are you eating junk food or are you eating healthy food you asking me are you asking I'm asking you uh well then I'm just going to say that I eat mostly healthy food definitely go up the rails once in a while I would agree but our body needs a wide range of nutrients in the right amounts so that we can grow develop and it can maintain itself it's you know we have to give it nutrition in order for our body to behave the way we want it to behave but balance is the key right because basically too much or not enough of any nutrient can lead to problems the bottom line is if you're currently living on pizza or even just pure meat every day then it's time to mix some greens into your diet you know our nutritionist or no not a nutritionist our naturopath doctor um Dana Dana tells me that I need to eat seven cups of vegetables a day and when she first told me that I said there's no way but really it really isn't that much and it's just a behavioral change so we have three cups of vegetables with dinner three with lunch and maybe I'm missing one cup we might be probably missing one or two If we're honest for sure they do say that you should get 95 of your food from Plants there are places around the world where people eat like that and they do live longer so basically the real challenge today is for you to you know just push yourself to eat less meat and some more vegetables or at least bring more vegetables and plant products into your diet you know my mom used to say look at your plate and if your plate is a one color palette plate you're in trouble need to add as much color to your plate as you possibly can and you know that sounds really hard and and and it is it is but if you try this when you go shopping only shop the outside perimeter of your grocery store it's where all the Natural Foods tend to be and avoid the aisles see if you can get everything you need just from the perimeter yeah on the perimeter there's your your fresh beef Fish and Chicken your protein all the vegetables are there and we definitely suggest you look for organic it's a little more money but it's better for you and it can be healthy and just take baby steps here but if you pick up a can of food that you want to put into your mouth or a bag of food and you can't pronounce any of the ingredients you shouldn't be eating it because it's chemicals it's just not good for you easier said than done it is but baby steps for sure right another lifestyle change would be this as easy as this two words don't smoke full stop really just don't smoke because smoking is strongly linked to the rise of some diseases and even early death you know my mom smoked three packs of cigarettes a day from the age of 14.

to when she died at the age of not 80 because she went into the home but until 75 years old so 60 whatever 60 plus years three packs a day but she got dementia and in in my mind you know smoking can lead to diseases like that according to Healthline we found this note that men and women who smoke may lose up to 10 years of their lives and be three times more likely to die prematurely than those that never picked up a cigarette but you know what don't be too alarmed there is still time to quit and a chance for you to prolong your life that same Healthline report said quitting smoking in your 60s may add up to 3.7 years on your life in fact you can even still quit in your 80s and provide some health benefits so the long and short of this section is don't smoke or quit smoking yeah so no matter how old you are if you quit smoking now it'll be good for you now the other the other lifestyle change that's really important is to do brain training and you're like what is that well not only do we need to exercise our physical bodies what we need to exercise our brain as well you know I do Wordle every day some crossword puzzles I've tried Sudoku I'm just not very good at it but keeping your mind physically fit can save us from certain conditions that will shorten your lifespan even link to Alzheimer's disease like my mama yep here's a few fun ways that you can exercise your mind I feel like we did this when Luca was here our grandson oh my God we played hours and hours ago goldfish from 5 30 in the morning till 7.

How about learning a new word every day when I read my Kindle or I read my iPad in the morning and there's a word that I don't understand you can just hold it down and look up the definition and I really tried to do that on a regular basis I mean I Journal which you do which is great it's my brain you know you can memorize some lists I'm not good at that at the grocery store by the way so if I don't have it written down it's not coming home but memorize some other lists and sometimes you can just do some quick ad subtraction multiplication in your head instead of picking up your calculator you remember the back of the composition book they were black and white and it's great school on the back was the multiplication table yeah one through twelve I had that memorized 12 times 12 is 144.

Good for you that's awesome isn't that good here's another thing to help your lifestyle change go for a jog even a walk it's amazing what this can do for you you don't need to do it for long 20 minutes a day will do it science states that walking 20 minutes a day briskly can add five years to your life why wouldn't you do it you know it's funny I bet on all of our videos we probably have said this out of the 200 videos 10 times at least this is such an easy thing to do and there's a win just get out and move we take breaks throughout the day down here in Florida we'll jump on our bike for 10 minutes that's it five minutes out five minutes back it just gives you a burst of energy absolutely absolutely so the other thing you want to do is you've got to find a way to prioritize your happiness being happy is probably one of the best healthy lifestyle habits you can follow for the rest of your life now when we get up in the morning we have a choice how do we want to feel how do we want to approach the day do I want to give Jody a kiss and say hey honey how are you it's great to see you I'm so excited that we're here together for the day or God I'm so annoyed and I'm so sad and I'm so this that's all mindset so prioritize your happiness and just remember happier individuals have a 3.7 percent reduction in death over a five-year period we've read a bunch of studies about being happy and prioritizing what makes you happy will have positive effects on your mood and your ability to live longer you know um you have been if you have been following us you know I'm a big fan of quick and easy journaling in the morning every morning I get up besides giving Jody a kiss and saying hey it's good to see you tonight I always write three gratitudes three things I'm grateful for and one self-affirmation one um self-affirmation I am a good speaker I am a good husband I am a good father those three gratitudes in one self affirmation always get me in a good mood that's great that's great that's an easy tip for people to use another important lifestyle change is and I love this one I might love it a little too much not gonna lie but get some sun not too much but some sun I mean I love the sun I get energy from it my mood is improved and you know vitamin D the sunshine vitamin has been shown to fight disease improve bone health and ward off depression you know what I'm going to say now I know okay not too much so right I get out in the sun I have 70 all over my body I have a hat long sleeve shirt long sleeve pants I'm on the beach in a chair under the umbrella with all that stuff on I look like an idiot but that's you know I get enough reflection off the water and I do love we take breaks during the day we'll sit on the front porch and get a little bit of sun it is important to get some sun during the day you just have to be careful right you know how much sun you know 15 to 30 minutes a day with the adequate protection should give you the right amount of vitamin D from your sunshine I like sun early in the morning right between 12 and 3 30 or four I'm out yeah I'm in the shade another lifestyle change would be to stay hydrated this is something else we talk about quite a bit staying hydrated is easy to do and it's an important healthy lifestyle habit that you need to remember to live longer adequate hydration is essential for promoting Optimal Health and you know this because we talk about it a lot and you read about it a lot and your friends tell you about it half your body weight in ounces I need six to seven 12 ounce glasses of water a day to meet the minimum requirements so just do it another one is to laugh often you know you've heard the old saying laughter is the best medicine well it's the plain truth laughing is so powerful do you ever notice when you laugh your heavy burdens tend to get lighter yeah do we laugh enough no we should laughter is a powerful antidote for stress anxiety pain and conflict we need to laugh we do say something funny why'd the chicken cross the egg no what the road so I'm a terrible joke teller so what we need to do you know what we're going to do tonight what we're gonna watch a TV show that's gonna make us laugh we're gonna watch an old funny movie how about that that sounds good you know the other thing is to maintain and strengthen relationships according to a Harvard health article social connections and relationships are very important to a happier life we are social animals and Studies have shown that it's critical to have these in our life yeah there have been dozens of studies showing that people who have satisfying relationships with their family their friends and their Community are happier and have fewer health problems and they often live longer now here's another tip that we talk about we got a lot of tips in this one get enough sleep people tend to neglect the importance of sleep they focus their energy and I'm gonna have a great day they do all these kind of things and finally go to sleep and wake up tired and grumpy it's not it's not good to do that you know you have to treat sleep as something that's sacred and you can't sacrifice it it is sometimes the thing to sacrifice right I'll get up early and do that I'll go to bed late and finish that we actually do that with work too lack of sleep can also often lead to serious health problems so Sleep Quality not just the amount of time in bed is important to your lifespan I think that you'd all agree that you'd like to live as long as you can and on top of that live a healthier life well into your 90s or more there's no crystal ball to see into the future but your vision includes being healthy I'm sure so make the decision to make some changes now this video is helpful you're gonna love this next one finding your path to physical wellness we're going to help you find a baseline where you are today how to build a vision and then bring in healthy habits and routines to support that Vision so watch this one next

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How do I rollover my IRA to gold or silver?

foreign how do I roll over my IRA to gold or silver navigating the process of rolling over your IRA into gold or silver can help protect and diversify your retirement portfolio first choose a reputable gold or silver Ira custodian and open a self-directed IRA account with them coordinate with your current Ira custodian and the new custodian to transfer funds from your existing Ira to the new self-directed Ira once the funds are transferred work with your new custodian to select the appropriate gold or silver asset to purchase within the self-directed IRA in conclusion rolling over your IRA to gold or silver involves choosing a reputable custodian transferring funds and selecting the right precious metals assets to diversify your retirement portfolio if you're interested in rolling over your 401k into a gold Ira gold and silver trust can help call us today to discuss your specific retirement needs and download your free gold and silver investor guide this guide provides valuable information on adding precious metals to your Diversified portfolio foreign

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F.I.R.E – 6 Uncomfortable Truths we discovered about Early Retirement & how to mitigate them

foreign hey what are the ugly sides to 
retiring early um aren't you bored every   day just lying around doing nothing don't 
you guys worry about running out of money hey guys welcome back to another beautiful 
day here in Paradise Bali many of you have   been asking me so many questions like the 
above so today I'm gonna run through six   uncomfortable truths about early retirement 
as well as my suggestions for mitigating them   based on our own experiences reaching fire and 
being retired here in Bali Indonesia for the   past two years so uncomfortable truth number 
one retirement is a journey not a destination   for the record lying around all day doing nothing 
in retirement is a myth it's always nice to have   a few days of that here and there but in reality 
you do that for long stretches of time and you're   probably going to be hit very very hard with 
feelings of boredom lack of self-worth and you're   gonna be missing a sense of fulfillment retirement 
isn't a destination like Bali or Boracay it really   is the start of a New Journey in your life it's 
that stretch of time where you finally do those   things you wanted to do but always couldn't 
because you were so busy making money to   survive it can be anything traveling the world 
finally writing that book or studying that say   cross stitch side hustle if you never get past the 
myth you'll probably end up getting bored and then   end up going back to work and missing out on this 
Amazing Life Adventure so like every other journey   start planning what is this epic adventure you 
want to spend your retirement time and money on number two if you got bored during your 
retirement stuff maybe you're doing it wrong   so for a lot of people their retirement Jam 
is about traveling the world right that's a   super common one and it's amazing fun you never 
feel more alive and it's such a great challenge   because actually you need so many different skills 
to travel properly right you need Street smarts to   navigate the towns and scams and other issues 
on the road you need to be able to plan your   itinerary book the best travel deals know how 
to haggle your prices not to mention stuff like   riding a motorbike and scuba diving and at the 
start it's always epic it's so incredible but on excitement and sense of achievement starts to 
plateau and then you're gonna hit that point   of diminishing returns and it wasn't just 
in travel either it was also my painting my   businesses my surviving The Nomad life thingy I 
find that when love to remain largely undirected   most Pursuits actually tend to lose their flavor 
with time another way of putting this is perhaps   you feel yourself falling into stagnation or 
mediocrity thing is if you're early retired on   your own efforts then you're probably more of 
the go-getter and achiever type of person and   the aspect of your personality doesn't 
change just because you're tired you'll   still be looking around and judging if you're 
spending your time meaningfully and productively   to this fix personally I found two solutions 
that worked really well for me one either I   start drilling deep down into the details of 
what I'm doing or two I make it into a business   take my dad baking is his great love in retirement 
but he's not just begging anyhow for the fun of   it the last few years he's in pursuit of baking 
a tastier sourdough bread anyone has ever come   across out of 365 days in a year he is probably 
baked about I'm guessing maybe 400 sourdough   loaves two loaves each bake he tweaks the recipes 
the starter the technique the ingredients he does   some reverse engineering of sourdough bread that's 
commercially sold outside it's been maybe three   years and he's still going strong so he set his 
own special sourdough bread goal and Target and   standards instead of just serving and yogurting 
for fun I became qualified instructors in both   and eventually started both a yoga business and 
a surf school and you know I learned so much   more about both in the whole process whatever 
Pursuit out there if you start really drilling   down there's always more Improvement to be had 
more personal growth to pursue please say you love   Pottery don't just do it aimlessly to pass time 
polish up your skills enter competitions become   a professional Potter do commissions as your 
retirement side hustle or teach pottery classes   when you keep pushing yourself to those higher 
standards because you're either really drilling   down into the craft of it or you're running it 
as an Enterprise you'll find new measures of   productivity therein and you will be bored not to 
mention if you're actually like us on lean fire   whatever site income you generate will help defray 
the cost of your interests and hobbies so you   don't need to tap on your long-term Investments 
isn't that a really good deal so two years ago   at the age of 38 I retired with my husband here 
in Bali it's pretty early by most standards and   it's been a completely amazing journey we've 
learned a lot and I hope the insights we are   sharing with you guys are useful if you're on 
your own fire Journey or already neck deep in   retirement smack that like button share with us in 
the comments below what your retirement looks like   so far how you're keeping busy and whether you 
agree or disagree with the points we made here   now on to the third uncomfortable truth it's 
hard that you must defend your time you probably   retired so you can spend your time doing however 
you please whenever you please most of us will   have spent the vast majority of Our Lives 
thus far making a living which means usually   someone else is directing your time either your 
boss or your clients and we get really used to   that so then in retirement self-directing your 
time becomes something new and kind of foreign   and if you look at retired folks in Singapore 
after working jobs that entire lives most of   them graduate on in retirement working as free 
child care services for their grandchildren   if that's their ultimate dream and for some 
traditional older folks it definitely is then   it's wonderful I'm really happy for them but 
for some it may not really be that but they   find themselves doing it anyway kind of like by 
default because they're just so used to allowing   someone else to direct their time for them there's 
always going to be people around who will try to   take advantage of your free time asking you to 
run errands for them perhaps or like for us here   in Bali we get so many requests from both people 
we know personally and complete strangers of the   internet asking us to do stuff like plan their 
holidays show them around Bali Etc of course we   love hosting close friends and family and we 
enjoy helping people generally but sensibly   speaking our own private lives would just vanish 
if we were to entertain all the requests we get   you'll need to learn how to say no to people and 
how to strike balance retirement is as much about   sharing your time with the people who matter 
to you as it is about having time for your own   personal growth and development just be aware 
uncomfortable truth number four it's probably   gonna be just you and your significant other from 
now on out so upon retirement your social scene is   going to change drastically everyone else is at 
work or busy with their own stuff you're either   gonna have to learn to enjoy your own company 
a lot or if you're lucky enough to have retired   with your significant other that's who you'll 
probably be spending majority of your retirement   with so best learn to get along companionably good 
communication is key as it's just generally being   a considerate and respectful human being through 
the pandemic and on the road this past decade   I've seen so many people who seem really surprised 
by the person the other half truly is when they   start retirement and start traveling together 
24 7 a day but building that Comfort to do   stuff by yourself and building that wonderful 
relationship with your other half can also   possibly be the most rewarding part of your 
retirement journey and your personal growth   before I share with you the fifth uncomfortable 
truth just the quick word from our sponsor of   today's video MooMoo Singapore the stock 
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uncomfortable truth number five your money plans   are never as foolproof as you think all retirement 
whether it's the regular kind or fire really all   boils down to the financial planning behind it 
right and the most uncomfortable truth of all   may be that your retirement funds are never 
as foolproof as you plan for especially if   your plans are supposed to spend 30 40 even 50 
years in the case of early retirement expert   predictions and assumptions go wrong you made a 
mistake in your portfolio planning because of all   the buyers that we all carry Bear markets happen 
blacks on events gray Rhino events so many things   no matter the plan no matter how much stress 
testing you did before you dove into it the   unexpected often happens and the sooner you come 
to terms with this uncomfortable truth the sooner   you can move on to hatching against the risks 
You can predict most retirees they're working   their financial planning and less Aid around 
the four percent drawdown rule right so the   U.S stock market has had a phenomenal Run for the 
last 10 12 years or so now of course things are   looking a little different for the foreseeable 
future so those who have been conservative and   who have refrained from tapping their long-term 
investments will have more breeding space now   to ride out this bear Market however long it may 
last friends who have been following our journey   for a while now know that a dominant portion of 
our retirement here in Bali consists of rental   income from a number of real estate Investments 
and unfortunately in the last two years since   we started retirement Europe is a game at War 
soaring Energy prices have driven up the cost   of living across the world and everywhere massive 
inflation is now a huge issue thankfully we have   so far managed to resolve whatever disruptions 
we've experienced but basically yet another   uncomfortable truth in retirement is that managing 
your money to make it last till the end takes up   more time than you think don't just go to sleep on 
it continually look to diversify the eggs in your   basket and be open to adjusting your money plans 
like rebalancing your portfolio or changing how   you invest your retirement Arsenal as different 
opportunities present themselves for time you may   not need to work for money any longer but doing 
stuff that fuels your personal growth and that   generates some extra side income as a bonus is 
never a Bad Thing uncomfortable truth number six   no point sweating the small stuff y'all know I'm 
a big fan of simple frugal living and no pretenses   whereas happy dining in a fancy restaurant 
as we are eating at the local War rooms here   sometimes more happy actually but many of us 
can also easily get carried away diving into   with the itsy bitsy details of frugal living you 
know spending two hours here looking up deals and   coupons that end up saving you 10 bucks three 
hours there figuring out how to maximize your   air miles should you lock in that 3.5 fixed 
deposit rate now or wait till next week where   maybe it might be 3.7 I mean it can be fun 
and then it can also be a lousy use of your   time you can do it if you enjoy the challenge 
just know that so long as you get the big stuff   right your retirement is probably going to work 
out just fine so don't sweat the small stuff   big things include stuff like keeping on top 
of your overall General expenses you know doing   your taxes right maintaining a balance then 
Diversified portfolio so as long as you keep   on top of all of that I think that's about 95 of 
the big picture really conversely what I'm also   saying is that if you blow up your retirement 
finances by for example trying to go big or go   home on crypto no amount of coupon cutting is 
gonna save you from having to go back to a job   so yeah that's my take on not sweating the small 
stuff we're all retire at some point of Our Lives   whether early or late voluntarily or unwillingly 
it all boils down to choice and advanced planning   just what I've personally observed is that if 
you cut out all the noise and distraction in   life what do you think are the real currencies we 
truly traded the way I see it is four things it's   money time Youth and health just think about it 
everything we do throughout our entire lives is   really us trading one of these for the other an 
early retirement is that one anomaly where you are   in a position to spend all four currencies at once 
simultaneously and that maximizes your experience   of life a really clear illustration of this is 
traveling you can travel in your 60s and 70s sure   that's what most people will end up doing and it's 
great you know you see these folks really enjoying   seeing new things being very happy but it's often 
in the form of like lots of cruise trips around   the world and that's cool too but they'll never 
experience what it's like to try learning to surf   or sail and getting all salty and burned and 
muscle achy but happily exhausted oh they'll   never try anything more vigorous and adventurous 
like say backpacking your way through Europe you   know crushing in new hostels meeting crazy people 
from Iceland or wherever and doing silly things   together we all have two lives the life that we 
currently live and the life we could possibly live   so then which life would you choose tell me in 
the comments below and don't tell me you wouldn't   retire early because you just wouldn't really know 
what to do that's just a cop-out answer because   yeah well you're too lazy to do the legwork 
and try new stuff and understand yourself   thanks for watching as always speak 
again next Saturday bye foreign

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Instead Of Downsizing your Home for Retirement, TRY THIS!

because downsizing isn't for everyone or maybe there's reasons why downsizing doesn't work for you and we're going to cover that in a few minutes you know if you're not in agreement with your partner or you don't have the time or money or your home is actually the perfect size for your new life then this video will give you new hope and inspiration for what we call right sizing [Music] i'm gonna retire soon and the first thing we're gonna do is downsize our house who died made you boss what do you mean this is what we're gonna do we gotta downsize everyone downsizes right a lot of our clients come to us in this quandary and while downsizing is a word that most people associate with retirement it also causes stress in a relationship when one partner wants to downsize and the other does not and then if you have children they're going to have an opinion too and this can end up being a divisive issue and tear apart a relationship and a family but there is hope because downsizing isn't for everyone or maybe there's reasons why downsizing doesn't work for you and we're going to cover that in a few minutes you know if you're not in agreement with your partner or you don't have the time or money or your home is actually the perfect size for your new life then this video will give you new hope and inspiration for what we call right sizing and stay to the end where we're going to share 10 quick low-cost changes that can help bring life back to your current home all right so today we're going to step back from the idea of selling your current home and give you some options to think about and stay in that home but before we go further we want to introduce ourselves particularly if you're new to this channel my name is mark rollins and i'm jody rollins and we started retirement transform in 2017 not only for us but for all of you and the 10 000 people turning 65 each day now we don't focus on any of the financial aspects of retirement but rather lifestyle health relationships and more and if you're new here please hit the subscribe button and the notification button so you'll get notified when our videos come out now if you do want to downsize we did a great video and the link to that will be below and that actually comes with a worksheet to help you go through that but today we want to talk about not downsizing staying in your home we actually downsized what we went through a process that we talked about in the first video where we actually had to clean the entire house out to sell it so we eliminated clutter we eliminated furniture we made one of the bedrooms a den painted the entire house inside and out right what else did we do and i was looking at the house thinking to myself with all that work done honestly why do we want to sell it but ultimately it made sense for us to do so let's discuss the reasons why selling your current home and moving may not make sense and the first thing is you might not like i didn't want to you might not want to leave your current area your friends your family or your volunteering community well the other thing is your home may actually be the perfect size for this phase of life sure the kids are moved out and you have some extra bedrooms but you don't want to move into a smaller house right now you don't want to move it can be stressful could be stressful and you actually enjoy having a little bit of a yard to do some gardening maybe doing some home repairs there's enough room for friends to visit or grandkids to stay over so maybe your current house is just the right size and some clients come to us with this reason financial considerations maybe your mortgage is paid off and your property taxes aren't so bad and your financial planner thinks it makes sense to stay where you are that's a reason not to sell yeah and another reason not to sell maybe your home has an apartment either in the basement or upstairs that you've been renting out for a while and your plan is to move into that and give this house to one of your kids down the road or sell it to one of your schools or sell it to one of your kids but it gives you an option to keep it and then actually be able to get common agreement with your children that you get to stay there or downsize one day down the road but right now your home is fine the reality is however all of us will either downsize or be downsized at some point in our life so let's dig into some ideas that we came up with to allow you to stay in your home but make it feel like you right size now listen this will take some work and it may feel like at times you want to quit but we want you to listen carefully and take a few notes and imagine the possibilities for you and your family in your current space and don't forget at the very end of the video we're going to share 10 quick fix tips to help you make your home feel better and one that you really want to stay in so let's say you've decided to stay for whatever the reason and you and your partner are on the same page right sizing to us means sprucing up your home inside and out make believe that you're gonna sell your house so it needs to be fixed up and by the time you're done you will have a new updated home that you won't want to leave so let's start outside so maybe because you've been working so hard for so long your shrubs and your gardens and your overall property really feels overgrown tired and in need of a redo yeah there are some simple things you can do you know you can trim the bushes you can pull your weeds you can add some mulch and nothing looks better than a crisp edge around garden beds right you can actually claim part of your yard if you're industrious as a vegetable garden or maybe buy a bench and stick it in the corner or make a small pond or fountain in area of focus now that you have more time think of your property as an oasis and a place for you to really spend your time and if you're not really sure how to do that hire a landscape architect get a real plan and agree with your partner you're going to do this over three or five years again don't make it feel like a huge job with a lot of money but do something with an architect that's professional and do it slowly what you want to think about is curb appeal you want to think about when you pull onto that driveway you feel great to be there you can't wait to walk around the property and get into the house so let's move inside the house keeping with the theme of getting your house ready to sell if the inside has been ignored because of lack of time or wear and tear from the kids now is a great time to spruce things up you can start room by room if you're doing it yourself or if you're ambitious you can hire some contractors and maybe just to try it start with one room an easy room an easy room let's say you have an extra bedroom and you want to convert it to a den and use or you have a den that you spend a lot of time in together as a couple tackle that room do a simple light clean reduce the clutter but maybe you know the carpet and the furniture needs to be cleaned as well paint the walls in the ceiling do something to give that room new life or go a step further and maybe buy a new tv or install a sound system so you have music or go out and buy some comfortable light up-to-date furniture and maybe clean the carpet or think about a new carpet or even peek under the carpet to see if there are hardwood floors under there now if you do this one room it's going to give you a taste for what can be done with the rest of your house it will get you excited and inspired to do more you can also empty several rooms at one time you know putting everything into a garage or a space make things go a little quicker we're not trying to spend your money but hiring a contractor will help that and remember if your plan is to stay here for 20 or 30 years it makes sense to do this because just think about it every year that you're in there longer and you don't update it it just gets actually worse and if you need ideas what is it pinterest is a great place to go or house to get ideas set a budget an annual budget each year to begin to plan out what changes you want to make to your house here are some other ideas that came to us from a few clients you know in your kitchen pop in some new counters or paint those dark cabinets a light color even purchase a few new appliances or clean all of your cabinets inside and out and definitely donate what you're not using we have clients that the wife is a great cook been cooking forever and loves it she went out when they retired and bought a brand new oven and um cooktop the the original ones were like 40 years old she has these new ovens down and she actually has a whole new feeling and inspiration to cook now so that that's a good thing to do now if you have an extra bedroom in the house let's say the kids have moved out claim that as a home office or another den you can always put a pull out couch in there we have one of them in florida and it's still it gives you another room to go to but it also allows if if kids or grandkids want to sleep over there's a bed there the thing is to step back into your home and think of the changes you can make so it can feel to you like a new home and thank you for staying till the end so here's what we promised 10 quick changes you can do to your home that are relatively inexpensive the first thing is clean all your closets every single one and i'm telling you when you take one closet and say we're going to empty it all out we're going to put the stuff back in that we want and everything else gets donated the feeling you get is incredible it is so the first thing is to clean your closet and the second thing you touched on which would be donate it's a no-brainer it always makes you feel good donate what you don't need because other people do need it the third thing is and this one might sound silly but we've done it a couple of times you'd do it every week if you could change your kitchen cabinet knobs just the knobs and it is totally transform your kitchen just by changing the knobs now lighting in your house maybe you have heavy drapes maybe you don't really have bright light bulbs or many lamps add some more modern lighting pull down your drapes let some natural light in it'll make the world of difference as you walk around your house the fifth one is a big one for me buy yourself a new mattress when is the last time you bought yourself a new mattress sleep is so important your old one probably needs to go the mattress companies say what every eight or ten years you need a new mattress if yours is 15 or 18 years old you definitely need a new mattress the other thing you can do is you know on top of the new mattress get some new bedding and linen for your for your bedroom new towels in the bathroom whatever it is again a very low cost change but it feels new so the seventh thing that you can do is just simply rearrange your furniture in your living room or your den or your dining area or your kitchen just move it around take a whole new look at each one of those rooms and move kind of point and shoot and move furniture around now the other thing you can do is take part of your garage or your basement or a spare room and turn it into a home gym i'd mention a home office before but you know in retirement we talk a lot about physical wellness so instead of going to a gym put the gym in the house so i'm gonna go back outside and just reinforce clean up your property on the outside think curb appeal and that's number nine and number 10 is jody's favorite she's so good at this we have candles all over our house and when jody you know late afternoon she lights all the candles in the kitchen and the den she also has this scent machine i wish i knew what the name is you remember i don't but it just it just pumps out put water in there a little drops of oil and it just makes the house smell so fresh well we also have a dog and i never want you to come into our house and say oh god you have a dog so those are ten quick fixes we don't want you to feel locked into having to downsize but if you're going to stay where you are do something to make the home that you live in feel new and fresh do some of the 10 quick fix tips and enjoy your fresh update at home and if you enjoyed this please share with your friends and please subscribe by clicking the subscribe button it really means a lot to us to get this message out to as many people as we can and finally join our free facebook community the link is in the notes below thanks for listening and we look forward to being with you again

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

I'm planning for retirement most people focus 
mostly on marshaling together enough money you   know Financial Resources so that they can last 
the distance and then maybe at the back of their   heads they have some vague plan right perhaps 
two or three things to fill the time with a lot   of the times this is stuff like travel family 
well unfortunately I'm gonna say that's not   quite nearly enough for Preparation we ourselves 
have been retired for two years and going looking   back on the past two years I kind of see like 
six essential things that if you prep for it   beforehand before your retirement starts I think 
this can really make such a positive difference   to your retirement so that's what I wanted 
to bring up and discuss with you guys today   number one first and foremost of course we have 
to talk about money most people's concern is the   amount of money that they have in retirement 
whether it will last them till the end come   comfortably and allow them to afford the Hobbies 
like travel good food Etc but I actually think   after going through the last two years building up 
our financial Acumen is just as important if not   more so what do I mean by Financial Acumen I mean 
stuff like budgeting tracking projecting investing   I mean if you think about it the money in your 
bank account can always be squandered we all   know that story I think more importantly what's 
going to make your retirement more fireproof is   having an ability to generate more money where 
it came from in the first place so the second   essential thing that you can prepare for so that 
you have a wonderful retirement it's definitely   the ability to be self-directing and disciplined 
self-direction definitely helps so much with   spending your retirement days meaningfully right 
after all there are no more like work schedules   or like demands from colleagues or bosses to help 
shape your days anymore you have to be the person   to take charge in retirement there's a study out 
there actually that shows that for happily retired   folks most of them actually have about 3.6 core 
Pursuits that's what they say and the unheably   retired folks tend to have less than 3.6 corporate 
suits coming in at about 1.9 call Pursuits that's   what the study reflected I guess it kind of just 
shows in retirement you really need to fill your   life to the brim and keep busy with activities 
you love and that is a really great formula for   happiness and self-direction will help you 
to achieve that state as well as discipline   because if you think about it like discipline 
directly affects the state of your finances right   it affects whether you stick with your retirement 
planning whether you keep fit and active and you   get to maintain your health in retirement even 
whilst you're left up to your own devices even   to find your cover suits if you don't have any 
when you're starting or in your retirement so   discipline and self-direction will be like 
the building blocks for enjoying your life   in retirement the third essential thing you might 
want to work on and cultivate or happy retirement   is people skills right so studies and research 
have reflected very consistently that the main   determining factor for happiness and Longevity 
for most of us is actually relationships Human   Relationships friendships relationship with 
your spouse and with your family I guess if   you look at most of us you know we all have 
a little need of work on some social skills   in some aspect I mean some of us are a bit shy 
paper hats or graph or maybe socially anxious   working on our people skills really will help us 
to get along and live happily with our spouse and   family members and also importantly to make 
new friendships at whatever age we all know   that making new friends gets a lot more difficult 
as we get older I mean I haven't heard anyone say   otherwise for me personally making new friends 
as I get older is the biggest challenge there's   this huge feeling that nothing can replace 
friendships with people who have known you   all your life but it is also a challenge as I 
have chosen to exercise through Arbitrage in   our retirement and we've moved away from home 
so those friends aren't with us in our present   I find that it takes a lot of intention I have 
to consciously push myself to broaden my Social   Circles and make the effort to get to know people 
on a more intimate basis I am also very happy   to be able to say that it has paid off in that for 
the last two years in Bali I have actually made   two or three new friends that I'm happy to say are 
kindred spirits and not just social acquaintances   so that's very nice and it's a huge Comfort to our 
daily life here in a foreign land away from home   now before we move on a big thank you to 
Mumu Singapore for sponsoring this video   Singapore is an online trading platform for 
stocks ETFs and options I've been using the   MooMoo mobile trading app myself for almost 
a year now and I think it's awesome it's   fast intuitive trading US Stocks is commission 
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start using the mobile app to trade you stand   to receive cash coupons up to 128 Sing dollars 
and even a free Coca-Cola share worth around 87   subscribe two thousand Sing dollars or more into 
funds on the MooMoo fun Hub and MooMoo will give   you cash coupons up to 150 Sing dollars subscribe 
at least 100 Sing dollar us to Momo cache plus   and they'll throw in an additional tensing 
dollars cashback altogether that's 368 Sing   dollars worth of Welcome rewards absolutely free 
just for using the Momo app so if you're actively   investing anyhow I recommend checking out the 
MooMoo ad using my link in the description below   now back to the video the fourth essential 
thing that you can definitely work on and that   will benefit your retirement tremendously it's 
actually courage you're definitely gonna need lots   of courage in retirement and I guess this isn't 
a skill exactly it's kind of more of a quality   but in retirement you need a lot of courage 
to even plunge into retirement you need the   courage to you know take that leap of faith to 
stop putting it off due to fear of the unknown   feel or financial insecurities so then it's all 
about courage at that stage not let fear and   insecurity rule your life and your decisions it 
is also the courage to recognize that in life at   the start at the end in the middle the Domino's 
you need are never all nicely lined up you know   at some point you just got to jump into it and 
then learn to cross the obstacles as they come   so for retirement long term I guess the 
biggest issue most commonly is always money   but my perspective on this is that hey budgets 
can always be reduced money can always be earned   or recouped or whatever happens so I still 
think that you know it is actually beneficial   to Advocate an approach whereby you get to 
a point where you feel that you have most of   your Ducks lined up you've planned well you've 
prepped for it grab hold of your courage with   both hands and then take the plunge people tend 
to think of retirement as the end but it's not   it's the start of a new phase where you should be 
trying so many new things new Pursuits new ways   to live and for each of these new adventures 
you're gonna need courage to take action and   once you have taken the plunge you'll find the 
next fifth thing very very useful and that would   be a mentality of resilience especially in early 
retirement there are a lot more decades ahead of   you you know and therefore a lot more chances that 
they things can go wrong whether it be down to bad   financial planning or perhaps an unexpected Health 
catastrophe or even sometimes natural disasters   whatever comes I guess you will always need that 
strength of Will and the resilience so that you   can roll with the punches and then get back up 
you want to know that you have the mental strength   that even if things go pear-shaped you won't just 
give up and lose hope and certain Corner you've   got to Marshall what you've got inside you go out 
there find Solutions perhaps if necessary you've   got to go back to work but know that later on 
you can return to retirement and try again so the   sex essential thing that I believe will benefit 
everyone in retirement is to cultivate an attitude   of gratitude we all know life is a very long 
journey hopefully at least and so much of what   we Chase using most of our years actually doesn't 
really matter in the big picture once you have   taken a step back and then at that point is when 
you start realizing the earlier you cultivate and   attitude of gratitude and that appreciation for 
the simple little things that are probably around   you everywhere every day the happier you probably 
will be and it sounds silly but it's not really   automatic I mean we all live and grow up and 
work and go to school in a society that kind of   innovates us with messages that we need to reach 
for more have more ambition gives us you know that   High definitions of success in life that we 
have to try to jump to reach and nobody sings   the Praises of the pleasures of a simple cup of 
tea you know the importance of family time with   your loved ones or or just the pleasure of being 
able to take an evening walk on the beach with   your dog so I think that it's very important that 
somebody reminds you that you know you can not   overload what you already have what you're already 
surrounded by growing that muscle of appreciation   so that in each and every moment you are present 
in your own life you see all the little Joys that   you're surrounded with every day and if you 
live life like that I think that will help   you achieve contentment with just the small stuff 
around you and that's what majority of your life   in retirement may be about is just a small stuff 
every day but in my own retirement here in Bali it   is what makes me so grateful and so happy every 
day that I am surrounded by my loving husband   and very interesting and independent little dog 
that's very very cute you know that we have very   comfortable a bit simple house we have the ability 
to enjoy good food even if it's simple stuff   from the war rooms locally we have a garden and 
beautiful things are growing around us every day   the weather is great you know stuff is good yeah 
I think this is one of the most essential simple   things that's often overlooked simply because it's 
a matter of mentality but I believe this essential   quality or characteristic could make all the 
difference for you so these are the six essential   things that I believe are very very important for 
you to cultivate and prepare for in the leader to   actually taking the plunge into a return then I 
think that if you have these six strong skills and   qualities going for you you will be in a position 
much more well placed to make the best out of your   retirement however long that period may be let me 
know what you think of my suggestions whether you   agree or if you think they suck let me know why 
but in any event I really appreciate you tuning   in and sharing my thoughts for this week and 
wherever you are in the world I'm wishing you   a happy Saturday evening and let's speak again 
next week till then you take care and bye for now

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Planning for Your Retirement with CPF – Part 1 (Growing Your Savings)

Hi everyone, I'm Caroline from CPF Board and today I'll be sharing how you can plan your retirement with CPF. Your CPF helps you to be ready for your golden years by supporting your three retirement needs. Home Ownership, Healthcare Financing and Retirement Income. Let's start with Home Ownership. For greater peace of mind, your home should preferably be fully paid out so you don't have to worry about the mortgage or interest going up. It can also be used to supplement your retirement income by renting out your flat partially or fully. Another option to monetize your flat is by moving into a 3-room or a smaller flat for the Silver Housing Bonus or selling part of your lease back to HDB through the Lease Buyback Scheme. The proceeds are then topped up to the retirement account savings to enjoy lifelong retirement payouts through CPF LIFE. Next, Healthcare Financing. As you grow older, chances are you're likely to spend more on your Healthcare needs.

This is where MediShield Life comes in to provide health insurance to help pay for your large medical bills. You can also tap into your MediSave savings to help pay for your healthcare expenses. Last but not least, Retirement Income. Apart from housing and healthcare, your CPF also provides you with a steady stream of monthly income to help pay for your daily expenses like food, transport as well as savings that you can withdraw for more immediate needs. Speaking of which, how much do you think you need every month for your retirement and how long should your payouts last? So we know how much we have saved but we do not know how long our savings need to last because nobody can predict how long we can actually live.

Spend too little and we might deprive ourselves from fully enjoying our hard earned savings during our lifetime. Spend too much and we might not have enough for our retirement if we live longer than we thought. Have you heard about CPF LIFE? CPF LIFE is a national longevity insurance annuity scheme. It insures you against running out of your retirement savings by providing you with monthly payouts no matter how long you live so you don't have to worry. At 55, a Retirement Account will be created for you using your Special Account savings first and then your Ordinary Account savings to set aside your retirement sum. This sum is used to provide you with monthly payouts no matter how long you live from your payout eligibility age, which is currently 65 years old. You will be automatically included in CPF LIFE if you are a Singapore Citizen or Permanent Resident and have at least $60,000 in your CPF Retirement Account when you start your monthly payouts.

If you're not automatically included in CPF LIFE, you can still join anytime between age 65 and 80. All you have to do is to choose one of the CPF LIFE plans when you're ready to start payouts anytime from age 65 to 70. If you do not choose a plan before age 70, we'll automatically start your payout under the CPF LIFE Standard Plan. So how much do you think you need in your 
Retirement Account to achieve your desired monthly payouts? Think about how much you need for basic expenses in retirement. If you want monthly payouts of about $1,400, you need about $285,000 in your Retirement Account at 65.

For monthly payouts around $2,100, you need about $425,000 in your Retirement Account at 65. As you can see, your retirement payouts are determined by the retirement sum which is the amount of savings that you set aside in your Retirement Account. Now these figures may look huge at age 65, but the good news is with attractive CPF interest rates, you only need to set aside a lower sum at age 55. This is why at 55, we set aside your Full Retirement Sum, or FRS. Take for example the current FRS of $192,000. With the power of compounding and attractive CPF interest rates over 10 years, this amount will grow to about $285,000 in your Retirement Account at 65 and gives you monthly payouts of $1,400. If you do not have the FRS, there is no need to top up. It just means that you have lower monthly payouts.

At this point, you may also be wondering if your CPF savings can be withdrawn for more immediate needs. From age 55, you can withdraw up to $5,000 from your Ordinary and Special Accounts, and you can withdraw more after you set aside the Full Retirement Sum. Your Full Retirement Sum can be set aside fully in cash, or you can just set aside the Basic Retirement Sum if you own a property. You can make as many withdrawals as you like from your withdrawal savings so there's really no need to take everything in one go. Do note that if you set aside a lower retirement sum in cash, your monthly payouts will also be reduced. Let me now share with you three tips on how you can enjoy higher monthly payouts in retirement no matter how long you live.

#1, reduce your CPF outflows. #2, retirement sum topping-up. #3, defer your CPF payouts. Let's start with reducing your CPF outflows. Your CPF savings earn good interest and the government pays extra interest to help enhance the retirement savings of Singaporeans. If you're below 55 years old, you enjoy an extra 1% per annum on the first $60,000 of your combined CPF savings, capped at $20,000 for Ordinary Account. If you're 55 years old and above, you get an extra 2% per annum on the first $30,000 and an extra 1% per annum on the next $30,000 of your combined CPF savings. This means that you can effectively earn up to 6% per annum on your CPF retirement savings from age 55. To maximise the interest you can earn, you can consider reducing your CPF outflows. To reduce outflows from your Ordinary Account, you can consider paying off your monthly mortgage before you retire or using cash to fully or partially service your loan.

Secondly, think twice before using your Special Account savings for investments. Unless you are quite sure that your investment returns can exceed 4% per annum, you might want to leave your savings in the Special Account which can earn you a minimum of 4% per annum. Lastly, you don't have to take out all your withdrawal savings at one go. At any time after 55, you can choose to withdraw your savings partially or fully and as frequently as you like. With PayNow, the savings that you withdraw will reach your bank account almost instantaneously. If you do not have an immediate need, you can choose to leave your CPF savings in your account to continue earning attractive interest of up to 6% per annum instead of leaving it in a bank account with lower interest rates.

Tip #2, boost your retirement savings through cash top-ups or CPF transfers. To enjoy higher payouts, you can consider topping up to your CPF Special Account if you're below 55, or Retirement Account if you're 55 and above. You can top up your Enhanced Retirement Sum if you are 55 and above or the Full Retirement Sum if you're below 55. You can view the amount of Full Retirement Sum and Enhanced Retirement Sum in the description box below. For cash top-ups to yourself, you can also benefit from a tax relief of up to $8,000. Do note, the top-up monies is purely for the purpose of building up your retirement savings and increasing your monthly payouts. Therefore, they cannot be withdrawn in a lump sum. In addition, cash top-ups from the Full Retirement Sum to the Enhanced Retirement Sum do not attract tax relief. Another option is to transfer your monies from the Ordinary Account to the Special or Retirement Account to earn higher interest. Now, do plan carefully before making such transfers as they are irreversible. Ensure the monies that you transfer are not needed for other purposes such as your housing instalments.

Please also note, that there is no tax relief for CPF transfers. After taking care of your own retirement needs. you can also consider helping your loved ones. For spouse, parents and grandparents, you can transfer your Ordinary Account savings after setting aside your Basic Retirement Sum. For your other loved ones, you can transfer your Ordinary Account savings after setting aside your Full Retirement Sum. So if you're making cash top-ups for yourself, you can enjoy tax relief equivalent to the amount of cash top-ups made, up to $8,000 per calendar year. If you're also making cash top-ups for your loved ones, parents, parents-in-law, grandparents, grandparents-in-law, spouse and siblings, you can enjoy additional tax relief of up to $8,000 per calendar year. That's $16,000 in total. For those who have yet set aside the Basic Retirement Sum from age 55 to 70, the government launched the Matched Retirement Savings Scheme in 2021 to help boost your monthly payouts in retirement. You'll get a dollar-for-dollar matching grant from the government for any top-ups received in your retirement account if you are eligible, up to an annual cap of $600.

The top-up can be made by anyone including yourself. This scheme will first run for five years from 2021 to 2025. The intent of this scheme is to help senior Singaporeans who have yet to set aside the Basic Retirement Sum to help build up their retirement savings for more monthly payouts in retirement. Besides MRSS, the government has put in place other schemes such as the Silver Support Scheme and Workfare Income Supplement Scheme to provide greater assurance for seniors. For more information, you can check out the description box below. While you can start your CPF payouts from age 65, you also have the option to start your payouts later. Under CPF LIFE, for each year that you defer, your monthly payouts will increase by up to 7%. Thank you for watching, I hope you found it useful! Please remember to subscribe to our channel to catch part 2 of our Planning Your Retirement video on CPF LIFE..

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A Happy Retirement is Possible – 5 Things you should Never Ignore!

we know retirement is different for everyone some have it all figured out and some are living the most amazing third phase of life but many are actually struggling when jody says or we say struggling you know they're getting by they're getting by and each day might be okay but it really isn't what they imagined well days might be better than okay but stringing a few of those together is difficult right is that what you think that's what we hear i do think that and i also again we imagined our retirement years ago as really sitting on the beach having pina coladas and traveling around the world and we tried that for 12 months and it didn't work it just wasn't enough for us so today we're going to talk a little bit about some things that might might help you you know i'm sure you'd all agree we deserve after all the years of working the best retirement ever and it can and should be so today we're going to try to help you with some items to make sure you don't fail we're going to talk to you about five areas of your life that you really need to be aware of but before we go any further particularly for those of you that are new here we want to introduce ourselves my name is mark rollins and i'm jody rollins and we started retirement transform in 2017.

Not only for us and for you but for the 10 000 people turning 65 every day now we don't focus on anything financial but rather we focus on lifestyle health relationships and more if you're new here please hit the subscribe button below and also the notification button so you get notified when our new content comes out so let's jump into the five critical areas of your life that you don't want to ignore so the first one you cannot ignore your health and you probably have for years well probably i don't know about probably but maybe we know people that do but when we say health we need your we mean your mental health and your physical health for me this is core to my success in retirement and i i would say it's probably core to you too because we always start our day around health sometimes and physical some type of movement some type of meditation right yeah because that just gets us grounded for the day but it's but it's more than that it's also checking in with your medical provider well it is right it is you know i i was talking to a friend the other day who i saw that his wife passed away on facebook back in september but i didn't know the story about it so i finally got a hold of him and i had a conversation with him last week and they were married for i don't know 40 years and he told me that she was a rock she was healthy she just everything about her was great and one day in august of last year she felt terrible ended up in the hospital and it turned out her sugar numbers were i don't know 1500 i don't know what the high number is i know i was pre-diabetic for a while so i was really careful with that but she was off the charts and honestly it was just downhill from there and unfortunately in 60 days she passed away and that was unheard of to me but here's here's the part that really just got me very upset while she felt healthy she had never had an annual physical i mean folks if you haven't seen your doctor in a year or two or three you have to go i mean it's critically important to baseline right as you're moving through this phase of life especially if you've got a vision for yourself 20 or 30 years out right you need to be working on that and getting the information today so you know i would say where to start you know pay attention to how you feel get your doctor visits up to date yeah move your body move your body get up and walk 20 minutes a day you'd be surprised if the first thing you do in the morning after a glass of water is go out the door and walk for 20 minutes 10 minutes one way and then you come back if you want more information on this thing we're going to drop links to some videos down below where we go into depth on your physical wellness so the first one don't ignore your physical wellness right and where you are the second one is just don't ignore your relationships now you have the time you know we suggest even making a list you know make a list of those colleagues you were close with during your career or maybe some people that left before you left or those that are still there and are are about to leave and enter this phase as well yeah what we've done with that is we've made these lists and for those who've retired we stay in touch and you know we try to get together when we can but the younger people are still there it gives us a chance to mentor them that always feels good when you can talk with an upcoming um junior executive i don't know the right word but someone in her 30s or 40s who could really benefit from your advice so i think it's really good to get those folks on the list too and check in with them once in a while yeah and then there's more folks you can put on a list to kind of add richness to this you know there's your community and your your church or you know faith-based you know place your clubs where you're volunteering or start a club start a coffee group with uh a bunch of guys or in your case women um you could do a dating group you wouldn't want me to start a coffee group with a bunch of guys no i could what about a knitting group you do knitting i do you know i wish i knitting click click but i don't well i think the point is creating communities in retirement is important there are some already there clubs church volunteering but you also can create your own like-minded people in this phase so you don't want to ignore your relationships you don't okay that was the second one what's the third one the third one and while we can't help you with this and we don't do this it is critical to your retirement and that's making sure you have a financial plan don't ignore your finances you can't just assume everything's going to be okay you really need to have a financial planner to give you a clear picture of your finances you need to have a budget how much money you can live on each year that will just ease your ease your not paying ease your attention or stress yeah with your partner i mean well but really here we're talking about non-financial plan items you know we don't know what your life plan is right now or what your vision is in retirement but you should have your finances in order in order to support the plan right so plan or no plan we came up with a phrase well here's the thing um you need a financial plan we don't do that but you also need a plan in retirement and whether you have a plan or not you're living a certain retirement and we did come up with this phrase yesterday talking to a client that you know they're not really happy where their retirement is and they don't have a non-financial plan so we said to them well your current non-financial retirement plan is perfectly designed to provide you with the retirement that you're living and they said well i don't have a plan i said well let me say this again your current non-financial retirement plan is perfectly designed to provide you with the retirement you're living so without a plan you're just living day to day moment to moment and that's not good and some people would say and we have gotten pushed back that that they're happy with that and that's all we want to hear is that you're happy with where you are but we've all planned our entire life up until now why stop that's the thing that we don't get why you know you you planned all your education your career your marriage your kids if you had it owning a home buying and selling homes you've been planning for 40 or 50 years what did the next 30 years look like for you it's true and you know what mark and i did was we developed our five pillars and started with visions around those so as you mentioned our mental health and our physical well-being and then our spouse partner relationship and other relationships as well as wisdom sharing and maybe even the sixth pillar building our community yeah so we really built visions around those the other thing you could do where to start is join us in our mastermind in january you know that's where we will go deep into each of the pillars and help you with that and we only hold that once a year you can buy our online course now you can go to the website and you know we'll leave that link below but we also think if you want to be coached through this process for just a little bit more money we're actually going to do it live for um january do it once a year so you might want to think about doing that if you don't have a plan and your retirement could use a little spruce up let's call it so the third item was pay attention to your financial plan as well as your non-financial plan so what's the fourth the fourth one is don't assume you can just wing it and i really want you to take this phrase seriously you you shouldn't think about winging it every day and every week and every month for the next 20 or 30 years when did that work out well for you i'm sure you never winged it during your career right did you i didn't no no you wouldn't have gotten some time i think maybe you did did not and you didn't wing it having kids thinking well everything will be fine the next 20 or 30 years of your life is valuable it's um it's worth the input your time affluent you now have time don't squander it right right it's it's worth the input okay to plan so the fifth thing is don't ignore your skills and talents that you gained over all those years use them in this phase of life to gain your fulfillment or your purpose you know all that we've both learned you know when we left our career um the last thing we were thinking of was starting a business like that like this but it evolved and here we are and now you know we absolutely love it and we use the skills and talents we learned speaking getting organized whatever it was to help others we were both great coaches during our career so we flipped that into retirement you could do the same thing you know my dad when he retired he packed up all of his experiences all of his stories and he put it in a box put a bow on it and stuck it on the shelf in the garage we're not doing that and you shouldn't either this is our time we need to make it fun and also create a great balance in your life you know our retirement life has things like golf and travel and downtime on top of our five pillars that i mentioned earlier i think you can do that too so we hope you enjoyed this do us a favor and please share it with your friends and also subscribe by clicking the subscribe button and also click the notification button so that you get notified when our new video comes out every wednesday at four o'clock and finally join our free facebook community the link is in the notes below thanks for listening and we look forward to being with you again you

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The 4 phases of retirement | Dr. Riley Moynes | TEDxSurrey

Transcriber: Zsófia Herczeg
Reviewer: Peter Van de Ven Everyone says you have to get ready
to retire financially. And of course you do. But what they don’t tell you
is that you also have to get ready psychologically. Who knew? But it’s important
for a couple of reasons. First, 10,000 North Americans
will retire today and every day for the next 10 to 15 years. This is a retirement tsunami. And when these folks come
crashing onto the beach, a lot of them are going to feel
like fish out of water without a clue as to what to expect.

Secondly, it’s important
because there is a very good chance that you will live one third
of your life in retirement. So it’s important that you have
a heads up to the fact that there will be significant
psychological changes and challenges that come with it. I belong to a walking group
that meets early three mornings a week. Our primary goal is to put
10,000 steps on our Fitbits, and then we go for coffee
and cinnamon buns – (Laughter) more important.

(Laughter) (Applause) So as we walk, we’ve gotten into the habit
of choosing a topic for discussion. And one day, the topic was, “How do you squeeze
all that juice out of retirement?” How's that for 7:00 in the morning? So we walk and we talk, and the next day,
we go on to the next topic. But the question stayed with me because I was really having
some challenges with retirement. I was busy enough,
but I really didn’t feel that I was doing very much
that was significant or important. I was really struggling. I thought I had a pretty good idea of what success looked like
in a working career, but when it came to retirement,
it was fuzzier for me.

So I decided to dig deeper. And what I discovered was
that much of the material on retirement focuses on the financial
and/or the estate side of things. And of course, they’re both important
but just not what I was looking for. So I interviewed dozens
and dozens of retirees, and I asked them the question, “How do you squeeze
all the juice out of retirement?” What I discovered
was that there is a framework that can help make sense of it all.

And that’s what I want
to share with you today. You see, there are four distinct phases that most of us move through
in retirement. And as you’ll see,
it’s not always a smooth ride. In the next few minutes, you’ll recognize
which phase you’re in if you’re retired, and if you’re not, you’ll have a better idea
of what to expect when that time comes. And best of all, you’ll know
that there is a phase four – the most gratifying,
satisfying of the four phases – and that’s where you can squeeze
all the juice out of retirement. Phase one is the vacation phase,
and that’s just what it’s like.

You wake up when you want,
you do what you want all day. And the best part
is that there is no set routine. For most people, phase one represents
their view of an ideal retirement. Relaxing, fun in the sun – freedom, baby. (Laughter) And for most folks, phase one
lasts for about a year or so, and then, strangely,
it begins to lose its luster. We begin to feel a bit bored.

We actually miss our routine. Something in us seems to need one. And we ask ourselves, “Is that all there is to retirement?” Now when these thoughts and feelings
start to bubble up, you have already moved into phase two. Phase two is when we feel loss, and we feel lost. Phase two is when we lose the big five – significant losses
all associated with retirement.

We lose that routine. We lose a sense of identity. We lose many of the relationships
that we had established at work. We lose a sense of purpose. And for some people,
there is a loss of power. Now, we don’t see these things coming. We didn't see these losses coming in
because they happened all at once. It’s like, poof, gone. It’s traumatic. Phase two is also when we come
face to face with the three Ds: divorce, depression and decline – both physical and mental.

The result of all of this is that we can feel
like we’ve been hit by a bus. You see, before we can
appreciate and enjoy some of the positive aspects
associated with phase three and four, you are going to, in phase two, feel fear, anxiety
and quite even depression. That’s just the way it is. So buckle up and get ready.

Fortunately, at some point,
most of us say to ourselves, “Hey, I can’t go on like this. I don’t want to spend the rest of my life, perhaps 30 years, feeling like this.” And when we do, we’ve turned the corner to phase three. Phase three is a time of trial and error. In phase three, we ask ourselves, “How can I make my life meaningful again? How can I contribute?” The answer often is to do things
that you love to do and do really well. But phase three can also deliver
some disappointment and failure. For example, I spent a couple of years
serving on a condo board until I finally got tired
of being yelled at.

(Laughter) You see, one year the board decided
that we were going to plant daffodils rather than the traditional daisies. (Laughter) And we got yelled at. Go figure. I thought about law school,
thinking perhaps of becoming a paralegal. And then I completed a program
on dispute resolution. It all went nowhere. I love to write. So I created a program
called “Getting started on your memoirs.” That program has met
with “limited success.” (Laughter) It’s been a rocky road for me too,
and I told you to buckle up. Now, I know all this can sound bad. But it’s really important to keep trying and experimenting
with different activities that’ll make you want
to get up in the morning again because if you don’t, there’s a real good chance
of slipping back into phase two, feeling like you’ve been hit by a bus. And that is not a happy prospect. Not everyone breaks through to phase four, but those who do
are some of the happiest people I have ever met.

Phase four is a time
to reinvent and rewire. But phase four involves
answering some tough questions too, like, “What’s the purpose here?
What’s my mission? How can I squeeze
all the juice out of retirement?” You see, it’s important that we find
activities that are meaningful to us and that give us a sense
of accomplishment. And my experience is that it almost always
involves service to others. Maybe it’s helping a charity
that you care about. Maybe you’ll be like the old coots. (Laughter) (Applause) Yeah. These folks took a booth
in the local farmers market and were prepared to give their advice
based on their vast years of experience to anyone who came by.

So one of their first visitors was a kid
who wanted help with his math homework (Laughter) on his tablet. (Laughter) They did the best they could. Or maybe you’ll be like my friend Bill. I met Bill a few years ago
in a 55 plus activity group. In the summer, we golf together
and walk together and bicycle together. And in the winter, we curl. But Bill had this idea that we should exercise
our brains as well. He believed that there was
a tremendous pool of expertise and experience in our group, and so he approached a number of folks and asked if they would volunteer to teach some of the things
that they love to do to others. And almost invariably, they agreed.

Bill himself taught two sessions, one on iPads and one on iPhones, because we were smart enough to know
that a number of our members had been given these things
as gifts at Christmas (Laughter) by their children, and that they barely knew
how to turn them on. The first year, we offered nine programs,
and there were 200 folks signed up. The next year, that number
expanded to 45 programs with over 700 folks participating. And the following year,
we offered over 90 programs and had 2100 registrations. Amazing. (Applause) That was Bill. Our members taught us
to play bridge and mahjong. They taught us to paint. They taught us to repair our bicycles.

We tutored and mentored local school kids. We set up English-as-a-second-language
programs for newcomers. We had book clubs. We had film clubs. We even had a few golf clubs. Exhausting but exhilarating. That’s what’s possible in phase four. And do you remember the five losses
that we talked about in phase two? The loss of our routine and identity and relationships and purpose and power? In phase four, these are all recovered. It is magic to see, magic. So, I urge you to enjoy
your vacation in phase one. (Laughter) Be prepared for the losses in phase two. Experiment and try as many different
things as you can in phase three, and squeeze all the juice
out of retirement in phase four. (Applause).

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Retired at 38: 5 strong reasons to retire as soon as you can (Retirement Planning)

so early retirement has actually improved our 
health so much that I actually think we'll be   avoiding higher health care costs down the line 
that may actually lead into our retirement funds   and then early retirement has also allowed us 
to achieve a state of intuitive living which   has been absolutely awesome financially the 
conventional wisdom is that early retirement   could potentially be disastrous but frankly 
I think so far two years into retirement that   our early retirement has been great for us 
financially these plus two or three more are   just some of the very strong reasons why I would 
Advocate that anyone considering retirement should   do so as early as possible let me explain why 
down below hey I'm Jean and for the past two   years I've been retired in Bali Indonesia 
with my husband today I wanted to discuss   about all these reasons why I think retiring 
as early as you can is a brilliant idea [Music]   so Health basically don't wait till it's too late 
I think that when most people think about health   and retirement planning they just kind of hope 
and assume that they will be in good health when   they enter retirement and then that they pray it 
remains status quo until the end but I guess most   of us pre-retirement might be involved in jobs 
that might be high stress with long hours at   the desk and then naturally Fitness just isn't 
what ideally it should be so all my life I've   been struggling with skin rashes and allergies and 
these issues tend to pop up every time my immunity   gets low because I'm stressed I'm tired I'm taxed 
but truly in the two years since we have been   retired the manifestation of all these problems 
have just gone down so much in retirement mode   I'm happily keeping very fit doing all the things 
that I know of like surfing walking the dog with   the hubby eating better overall probably further 
down the line maybe I might be avoiding higher   healthcare costs having this health is actually 
so much wealth it allows you to live life to the   fullest because frankly all the stuff that you 
want to do in your enjoyment of Life probably   involves a lot of Health you want to travel 
you want to scale that mountain at Sunrise to   see that incredible view you need your help even 
just to enjoy good food if you like us you like   to eat you need your health I mean I know so many 
people who have dietary restrictions because of   high cholesterol or diabetes improving health is 
actually one of the biggest and strongest reasons   why you should retire early so the second big 
reason for wanting to retire ASAP is actually   intuitive living basically intuitive living is 
really connecting with yourself and listening to   your garden stings and your feelings as to stuff 
like eating and rest and meditation relationships   even your spending habits perhaps I don't know 
how it is for you guys but I was generally living   my life governed by a lot of shirts right I 
mean I should be at the office by 9am so that   I won't piss off the bosses I should stay in 
the office stay late and postpone my workout   postpone dinner so I can meet the deadline set by 
my clients I should carry branded Handbags and of   course I should be a corporate lawyer I mean why 
would I want to be anything else right finally   in retirement we are free from the demands of the 
pursuit of money to listen to ourselves to truly   tune in and understand what is the optimum cause 
in life you can chart you really want to wake up   every day without an alarm clock naturally because 
you've had enough sleep you want to eat only   enough and not too much I mean you want to make 
better choices food wise intuitive exercise you   know you're doing what really only appeals to you 
maybe you don't like sweating in the afternoons   so then you know get a gym membership or play 
indoor record Sports whatever works for you I   only wish that more people have the opportunity 
to experience living life this way intuitively   away from the entanglements and distractions 
from regular running the hands the real life   the third reason why you might want to retire 
as soon as possibly is just that the earlier   you retire the more time you gain in life I 
mean if you think about it most of us live   life as though we are invincible as if life 
itself will never run out and therefore we do   things like squander our time or sell it away too 
cheaply in exchange for material things we each   only have so long to live right and the money you 
make in your lifetime you can't bring that with   you when you go home so well might as well you'll 
be the one to spend it when you can right Society   feeds us like so many different narratives 
about success and what it should look like   but actually I think success is really not 
about the achievements per se but it's just   really a Feeling and I like to think that at 
the end of our Lives when we're there in our   last dying moments what we'll be thinking 
about probably wouldn't be like stuff like   oh I closed that three billion dollar deal I 
think it would more be along the lines of like   I had good friends and I loved my family I had 
a good life you know I ate good food I laughed   Lots I took care of my kids and my dog stuff like 
that so don't squander the time that we each have   maybe you have personal goals that you really 
want to achieve stuff like learning Spanish or   scaling the Great Wall of China or just 
watching your kids grow up that's just a   million places that are better to spend your 
time at then at a job which you don't really   particularly care for and which maybe you're just 
doing just cause that's what everyone else is   before we move on a big thank you to 
skillshare for sponsoring this video   so skillshare is an online learning community with 
thousands of classes for anyone who loves learning   if 2023 is the year you promised yourself 
you're gonna finally explore new career or   side hustle options or work on personal growth 
then skillshare is the perfect place to start   for me one of the ways we have fun in our 
retirement is making YouTube videos when we   first started skillshare was instrumental 
in teaching us so many of the basics like   videography storytelling and more till today 
one of the best classes I ever sat through   online anywhere is still the class by Sorel Amore 
YouTube success build an authentic Channel that's   worth the follow so her advice about finding my 
Niche valuing authenticity over Beauty creating   meaningful messages and providing value to the 
audience really changed our perspectives on what   we were creating back then for the better of 
course we've gone from like 40 Subs to the 143   000 Subs of today and from time to time I still 
pull up sorel's worksheet when I'm creating   my videos just to check that I'm on track for 
making something good for our people our audience   it's always super easy to take whatever you learn 
on skillshare and apply it directly to your life   Pursuits whatever those may be I highly recommend 
checking out skillshare and if you want to do that   you can use my link in the description below the 
first 1000 people will get one month of skillshare   absolutely free you can try it out learn something 
new move a step closer to your 2023 goals reason   number four the earlier you start your retirement 
the better you'll get at it with every other   change in life we expect that we all need time to 
learn how to do it well so things like becoming   apparent for the first time even if like us it's 
just a fur kid or transitioning from being a   student to being a working adult and then there's 
the transition from being and actively working   adult to retirement mode it seems ridiculous and 
silly even at first I mean it's like saying who   doesn't know how to spend their free time right 
but if you actually truly observe things around   you retirement Falls really differently for 
different people we all know the people who   have retired and in their retirement seem a 
little lost lonely left behind and uninspired   and then there's the other kind of retired people 
right the ones who go like when we're talking that   I'm gonna grab Life by the balls and Max things 
out a big part of that may actually be the point   in life at which you retire whether at that point 
where you retire you still have your zest your   Zeal your energy your health your Fitness to help 
you max out the happiness potential of that free   time and freedom in retirement and then there's 
the thought that retirement supposed to stretch   out for a few good years at least right if not 
for a few decades and doing that requires skills   you know you need so many different skills to 
have a successful retirement I think that's a   topic for another day but basically you need time 
to learn those skills whether it's Financial money   management or social skills you know building 
relationships and stuff but basically you need   time to get all that down pat in order to have 
a successful retirement so then the earlier you   retire the better usually you will probably 
turn out for you so the last and possibly the   most controversial point I think that early 
retirement could possibly be great for you   financially and this is controversial because it's 
directly opposite to what a lot of the experts say   right you retire too early there's so much risk 
that you miscalculate your finances or that world   events take an unexpected turn and then you know 
things go belly up and then you're destitute in   your last years but I mean underlying all that 
seems to be this assumption that in retirement   we're all just going to be like one dead lazy log 
and I think that these days especially if you're   an early retiree that is just so not true maybe 
like us with YouTube in our retirement in your   own retirement maybe you'll learn new skills pick 
up new side hustles and stay busy doing something   that you're doing for the love of it for the fun 
not for the money but having the money come in as   a result of your side hustle is a nice bonus and 
you know what it becomes an additional buffer for   your later years so retiring early also allows you 
to take advantage of things like dual Arbitrage   Right Moving overseas to improve your financial 
situation and yeah so like us I'm from Singapore   but I'm now retired here in Bali Indonesia we're 
not just here because life is more affordable but   the fact is that our retirement sums in fact our 
whole entire retirement is only possible because   living here is so much more affordable as compared 
to back home you know this wouldn't be possible at   all if we retiredly and ended up having health 
concerns right mobility issues for example   retiring early and then using the time to keep up 
with current affairs learning hedging strategies   to minimize risk learning how to diversify our 
Investment Portfolio I feel that the time in our   retirement has been well spent to actually make 
us more resilient and the fact that we retired so   early also means that if anything goes badly up 
time and youth are on our side if our financial   planning for retirement had just sucked or you 
know things unexpectedly go failure so prepare you   know if we have to U-turn and go back to work or 
maybe start another business it's not a big deal   and then we'll go off Marshall the resources 
that we lack and then we'll come back again   and second time around third time around will 
definitely be better each time at doing this   so in terms of confidence and the feeling of 
resilience that we will be able to make this   last all the way I think that starting 
early doing it early diving into it and   understanding the parameters the potential 
the boundaries of what we face in retirement   actually really really helps well guys so 
these are the few takeaways from our last   two years living in retirement here in Bali and 
I mean if you have any thoughts or objections or   contributions to the points that I've made in 
this video I'll love to hear them let's start   a little discussion in the comments below you 
guys have a good week ahead wherever you are   and let's chat again next Saturday thank you 
for watching and bye-bye have a good weekend

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