we’ve helped hundreds of people in their 50s and 60s retire over the past 15 years and one of the surprising things about the the most successful and the happiest retirees we know they’re not the most happy because of the things that they’ve added to their lives it’s
actually because of the things that they stopped doing so I want to go over the the nine things that they stopped doing that actually increased their retirement success and it’s increased their overall life satisfaction and quick warning here I might get a lot of negative comments for the
eighth thing that I mentioned but it’s that’s part of sharing things publicly and I think that it’s important and worth sharing so I’m going to do it and by the way if I haven’t met you yet I’m Dave Zer co-owner of a retirement planning fir firm called streamline
Financial in Illinois and we help people around the country when they’re getting close to retirement and they’re focused on tax planning Income planning and investment planning so let’s get into the first thing that the happiest retirees stopped doing and that
first thing is they stopped taking their time for granted I don’t know if you’ve ever seen this before got this from Bill Perkins but this becomes more and more real the older that we get we know that everyone’s health is declining with age which is a normal part of life but
wealth on the other hand typically tends to grow as we get older and we build up our Nest Egg but if you wait too long that declining Health that can actually put constraints on the enjoyment of our wealth as more physical activities become harder to do and everyone has different goals and many of
us want to enjoy the fruits of our labor now and the other thing that motivates people that’s related to this is this image I don’t know if you’ve ever seen this one before either but this is your life in weeks so we can see over here your age starting at zero and each one of
these lines going across is one year so 52 weeks and if you’re 65 66 in your 60s it becomes quite apparent how many weeks we’ve got left so this is here just to recognize help us recognize the Limited time we’ve got left and we can make the most of it that way we want to treat
each week as precious and just ensure we’re using time wisely and meaningfully now if if work is that place that brings joy and it brings purpose and meaning to your life then keep going by all means there’s I’m not saying retire if there’s something you’re doing that
you’re loving but if the stress and the negative of work is starting to really outweigh the the positives of work maybe it’s start you know time to start thinking about or getting serious to what’s next which is it’s a good segue into the next one which is some of the
happiest most successful retirees they stop saving unnecessarily we’ve met dozens of people who have enough and they’re not going to run out of money but they keep working and it’s not just for the reasons of Joy fulfillment and purpose of work but every six months they say you
know I’m just going to work another six months or I’m going to do one more year and the main reason is not because of the meaning it’s because of the they’re thinking they’re adding added security to their retirement plan but here’s the secret when you get to
this point and maybe you’ve been there already the amount that you have will never feel like enough now it takes a either a real big event at work or just a realization at work to know that you have enough or some internal reflection but it’s true adding more can actually feel like
you’re adding security to your life or maybe it is uh a thought of adding an increased lifestyle in the future and you’re working more and saving more but the trick here is to add to your plan and do an Income plan and then what if you do work an extra year how is that
going to impact the long-term outcome you know did it go go from a 98% success rate to a 99% success rate well is that really worth the extra year of life that limited time that we have is that worth it you’ve spent a lifetime saving if you’ve got a solid financial plan think about
enjoying the fruits of your labor today because we don’t know how much time or how many weeks we have left and this actually leads into the third point which is the most successful retirees that we’ve seen stopped compromising their health spoke with a couple just recently through a a
CashNews.co call and he said I think I’m I’m getting ready to retire and I said that’s great exciting tell me tell me more he said it’s just it’s stressful it’s getting more stressful now too and and he detailed some of the reasons behind what what he was feeling
and then I asked his wife and I said Sarah what do you think about it and then she said Jim can I be honest and he says yeah then she says Dave this job is is hurting him the stress is horrible he comes home late he’s always thinking about work he has no time to exercise he his sleep is
getting impacted it’s visible uh by him and me and Jim the whole time was in agreement of this and and this is the conversation you know we kept talking about things and this was one of the motivations to think about what’s next for Jim and what he knew he wanted to do was prioritize
health and well-being over other obligations you know he wanted to focus on sleep nutrition and exercise and those foundational things we need and it was time to stop investing time in the added Income or the Savings and then start investing time and resources in
maintaining both physical and mental health now before we get into the next one if you’d be so kind can you let me know how you’re thinking how how is this so far is it helpful I’d also love to hear from you in the the comments have you ever had this conflict in your mind of of
work and health I’d be interested to hear what you’ve done about it or or just you know was your desire to work one more year there where you kept pushing off retirement did you keep working or did you stop a lot of times people say the comments are super helpful to see what other
people are going through who maybe are a few years ahead of them but let’s get into the next thing and that is the the successful retirees they stop worrying so much there’s so many worries that are really being spoonfed or fed down our our throats every turn whenever we turn on the
news or the newspaper and that can cause unnecessary fear in our life and it can actually impact our financial life as well and it’s it’s a lot of times it’s not even a a real fear and let me see if I could pull this one up I’ve heard that fear is the caution over a real and
present danger but a lot of times it’s anxiety which is worry over an imagined thing of future danger that hasn’t even happened which reminds me of that Mark Twain quote I’ve had a lot of worries in my life most of which have never happened and there is an antidote to worry and
it’s not just to not worry it’s really just the realization that we there’s things in life that we can’t control right we can’t control the Markets or
Inflation or Interest Rates or what’s happening in the world or the elections but we can control things that are somewhat related like your Portfolio allocation tax expenses spending behavior and how much news you are watching it’s
amazing to see the visible difference between lightening up on news consumption and happiness directly correlated so the famous verse is don’t worry about tomorrow tomorrow will worry about itself each day has enough trouble of its own worrying doesn’t take away tomorrow’s trouble
it just steals today’s peace the next thing is they stop spending time with people who don’t uplift them themselves you know people anybody make you feel worse when when spending time with them or people who might transfer their negativity to you do you have anyone like that in your
life you know sometimes it might be a family member which is always difficult and you know you might be one of the only people in their their life this actually has happened uh just recently a real life example a client couple was talking they were in the office and we’re talking through some
things and they’ve got somebody in their life that is a family member who doesn’t have anybody else that they love but the negativity is just so so much and and a lot of times a positive positive person and a negative person meet and the negativity can just take over and zaps all the
energy from the positive person so every time they get into their house or visit this person they just get mentally prepared and and they see themselves as as a light right and this negativity as a Darkness the light can drive out the negativity that’s how they view it to pump themselves up
but there’s other Solutions too right you can you can have a candid conversation with that person about how the subjects they talk about uh drain you and just how it impacts you and and just be honest because you can you can uh you can share it makes you feel worse about yourself or about
life in general or whatever it might be and just how difficult it can be when they talk about these these things the other thing you can do if it doesn’t ever change and people do this it’s again harder with family but you can just you know be upfront and then maybe start to distance
yourselves hard to do with family but being honest and open about it I think is is a way to go if this is something happening to you now the next thing successful retirees stop doing is they stop spending money on things that aren’t aligned with their values if you haven’t done the
values exercise yet then think about taking 10 minutes I I’ll I’ll put another Link in the CashNews.co in this CashNews.co at the end of minute number two of the four uncomfortable retirement truths so that’ll pop up and it’s just a few minute exercise that will walk you
through and you’ll see that coming up after this CashNews.co but a short action step now is just reflect on your spending over the last month or or year to date think about investing in experiences and relationships that bring genuine Joy rather than just material possessions that might bring
just limited time happiness next is the one that could get a lot of push back and that is the happiest retirees stop over supporting their adult children which is often it creates dependence among among the kids right this is this is so hard because our kids it feels like it’s our our
responsibility and we’re the reason that they’re struggling but I think that we can agree that you’ve got less time than them right it’s important to make sure that your retirement is is shorted up insecure before extending financial support to adult children you know
they’ve got more time and they have the ability most likely in other means to improve their Finances where you you’re towards the end and starting to use those
Finances to support you for the rest of your life so that’s a hard one but that’s a big one we see uh the next one it’s it’s related to really the
biggest regret that uh that people have said on their deathbed and that comes from the bronny wear book on the five big regrets and the the big regret is I wish I had the courage to be true to myself and not the life that others expected from me so what the happiest retirees do they stop pretending
to be someone one that they’re not right be authentic be your true self Embrace who you are stop trying to conform to the people around you or others expectations and it reminds me of that one quote when you’re 20 you care about what everybody thinks when you’re 40 you stop you
start caring less of what everybody thinks and then when you’re 60 you realize no one even cared or was thinking about you in the first place and the next thing is stop living with regret so let go of those past regrets and and living uh start living in the present and living in the future
too because your future is bigger and better than your past here’s the proof If You’re 60 if you’re 70 you’ve got some things to look forward to look at this chart of peak satisfaction for people and ages here’s a normal retirement date of 65 and it’s interesting
all the way into 70s and things stay pretty pretty good towards this period of Life we’ve seen this is the area of most contentment in life out of the their entire life so forgive yourself for past mistakes and just make the most of the time you have now and for more practical tips look at
minute two of this CashNews.co that’s on the screen and that’s the values exercise then I’ll see you in the next one take care
CashNews, your go-to portal for financial news and insights.
Thanks I needed this video.Im 53 ,I think could be a one more year person.Being focused on hitting a number and not living for the now.Im working 26 years continuous.
Stop watching the “news”!! I stopped watching it when the drug companies started the Fear Campaign of 2020, and have so much more happiness!
Breathing? 😜
Thanks for the video I turned 60 yesterday and was thinking should I retire and stop chasing money your video just convinced me to retire
Thanks
Thank you for the video! I retired at the end of January from and very stressful job I am 66 now my blood pressure was 120/70 at my check up the other day my doctor said man retirement agrees with you he was always worried about how high it was before. I lost 18 lbs and have worked on eating right. I think the biggest thing is getting to the understanding that you have traded all those years working while slowly killing yourself for the money. A paid off home a pension from the job from hell is nice but being able to say to yourself I think I will do this today is what I like about retirement I do what I want, and the idea that you will go crazy from boredom is totally ridiculous if you will get up and get to moving work on you to be as healthy as you can be. I truly believe health is wealth! Money is great but if your body is sick your just poor it’s plain as can be.
Joe
A very good and refreshing take on retirement/near retirement. Centers on the human values in life.
My physiotherapist told me my job was aggravating my knee so I retired. Now I go to the gym 5 days a week and my knee is feeling much better.
Retirement is overrated, if you enjoy your work you can continue working until your health starts deteriorating! Anxiety is probably the worst thing we can do, it impacts our health and lives! Also the positive energy is so important for living a healthy lifestyle.
Everything is spot on. The last two years my occupational commitments have been detrimental to my health. Many times I told confidants that “This is actually killing me.” I’m retiring at year’s end. Do I have finances to carry me through? I think so, but if not, I’d rather eat ramen than have more years needlessly stripped from my life. When I was younger I had almost nothing and was significantly happier. Stuff ≠ happiness.
Retired 35 years. I have no regrets.
I love this. Thank you!
Great video Dave. I actually had a very similar meeting to the one in this video! I’ve also seen the impact on someone’s retirement by stopping some of these things. You hit the nail on the head
Very helpful and truthful. Thank you
I kept thinking "another year". Then I saw another video talking about "average healthy living age" in USA being 66. That really sunk in that I need to just do it, so I've chosen a firm date. I'm also really burned out from working in customer support for 20 years.
Agree completely – I retired as soon as the numbers told me I could (at 53). Ability to choose how I spend my time is the greatest thing.
I really appreciate this and it has helped me. I've been doing a little of everything you have said and at the same time I do very positive things daily. I casted my cares on the Lord because he cares. I'm 60. I was in the Air Force, college, 28 years in a hospital which was stressful most of the time. After having open heart surgery, major neck surgery, and about 20 plus other surgeries, diabetes, and 2 staff infections. Amazingly I am not a diabetic anymore, I'm my heart patients healthiest patient, my blood work is perfect. I have lost so much weight that my weight is perfect. At one point retirement was the last thing on my mind, it was uncertainty and immediate danger. Survival was the most important. I almost died, but now in my retirement I'm getting happier. I'm seeking Jesus Christ and keep my eyes on him and not the news to much. I know that it lasted 3 years of pain and I had given up, but Jesus didn't give up on me. Thanks
Work, although essential, can absorb all of your energy, your life force. Not working is also a challenge with the need to build meaningful activities. Focusing on relationships both family and friends, good nutrition, daily exercise, and prayer will do wonders.
We should NEVER retire 😅 completely 😮
Thanks for this video!
I need to make living better my mission now!
The worst thing you can do is to give up work, I see men, in particular, going from 100% to zero: they lose their purpose, status, social interactions and their ‘brains go to mush’…..I’ve been part-time teaching 3 days per week since 55 and love the life work balance, work ‘kicks me up the ass’ and forces me to ‘switch on’!
I retired at 60 w/a disability. The time off allowed me to become very healthy and get proper sleep. Best decision I ever made. The injury was a blessing
Very good content and well presented — thank you. The only thing I can't agree with is the chart at the end, and I came across this when I did the GAB (Guided Autobiography)(for older adults) a while ago. We don't usually have higher quality of life in our later years because we tend to have one health issue after another, and these can GREATLY affect whatever peace and joy we've managed to muster by the end years. I enjoyed my childhood and teen years the most — when you are not quite conscious of everything that is going on in the world and have no real responsibilities except do well in school, THAT's the life. When you're old and struggling to get up the stairs, that sucks.
I suppose the wealthier people who can pay for all the specialized health care in their old age do fit into that graph, but the rest of us deal with varying degrees of physical suffering and mental decline.
I think work can be really good for some people, but I think it needs to be appropriate. I worked from 21 to 51 in a high stress job. Then 51 to 67 in a school as an assistant, then 68 to 70 as a part time lab technician. I was financially secure at 51 but enjoyed the interraction with the people and the pleasure from doing a good job. I guess at 71 I'm retired now (probably) but I don't regret it at all.
Unless you’ve got a really different job (I.e. super interesting & anything but normal) and money aside…if you’ve got the means to retire and don’t….you’ve got life wrong. Go get an interest cause guaranteed you’ll be missed at work for 1 day.
This is right on the money and so validating. I've always felt that I've ended up here by anguish and accident. The thoughtful presention of all this info is fantastic, and it's nice to see the comments/anecdotes from all you folks. I wish there was a better community to connect. Here in Silicon Valley, the environment has me always questioning my sanity because everyone here lives to work. I did for my entire life until recently.
I agree with other folks is that one thing that could be mentioned is finding a low key job that brings you satisfaction and isn't too demanding. It's a great way to control the burn rate and keep sharp.
Unfortunately, because of poor financial decisions, my retirement plan is basically not to retire (I’m 59). I love my job and they seem to like me so it could be worse.
I’m 59 and worried about having enough saving for the kids and our life as retiree
I'm 55 – and I started a YouTube channel 19 days ago – My Home Videos by PD Warner – do that!
Wonderful clip.
Has anyone retired purchasing their own health care? That’s a major impediment for us.
Great comments. I was made redundant when I was 63, had been planning for another few years to build up the nest egg, but just thought “ there is no joy in that for me” and lots of stress in finding a job. So did a financial plan, looks pretty good with a few adjustments to spending ( reduced material acquisitions, more experiences) feel much more settled.
What I used to do all night, now takes me all night to do.😂
Ha me too, I dropped 40 pounds, I quit drinking, didn’t drink a lot, but now I sleep like a baby, my BO is normal now, I appreciate life way more.
I saw your video by chance wondering how a young man could give retirement advice. I was surprised to see that my approach to retirement earlier this month is perfectly aligned with your suggestions….without knowing about you previously. Excellent feedback.
My dad took early retirement, he was very fit and healthy yet within 3 years he aged maybe 20 years! It was because he lost his purpose in life, reason to get up and do things…. later he found new things to get his teeth into and he was okay but his energy, motivation and health never recovered to previous high.
This is a big concern for me, now aged 62 on papers at or close to retirement. I've worked freelance all my life and have no intention to retire but I work as I please, work and high earnings aren't priority… I have lots of hobbies, activities, plans and projects to keep me going, keep me fit and healthy, avoid stagnation and illnesses, avoid going to doctors for a long time.
Excellent presentation ❤
WOW that chart at 1:38 is actually kinda depressing! 😲
Be very careful… outside utopian thoughts and lucky examples, don't rush retirement and get into a financial crunch later on when you can no longer work. Choose to retire ONLY when you are 200% certain that you can afford it.
I thought I would retire at 45. I am 53 now. I think I need another 8 years…
You retire from work, not life. You may have a new set of dreams for your post-retirement life.
Thankfully I'm self employed and work an hour a day now in publishing. No boss, no employees… just me, for over a decade.
Never worked a real job more than a couple months. Sorry. Not the way employers treat the underlings. I've had about twenty jobs, and didn't work long at one of them.
People in my position rarely retire. I certainly don't want to, but I set all this up on purpose to relieve stress. To hell with retirement. I'll just start another business.
I need to play this over and over as I sit here debt free, with a nest egg, and still reluctant to retire 😕
Focus on "healthy life age", not life expectancy.
Excellent advice…you hit the nail right on the head…
Negative people are mood hoovers…
One of the best videos that I have seen for retired people, or those considering retirement. I have been retired for 2 years now. I wholeheartedly agree with the thoughts presented here. They are so encouraging and supportive toward living a genuine, peace-filled retired life. Thank you and God bless. 🥰
7:14 Great quote there. Here's the whole context from Matthew 6 Jesus' sermon on the mount:
Matthew 6:25-34
Do Not Worry
25 “Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more than food, and the body more than clothes? 26 Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? 27 Can any one of you by worrying add a single hour to your life[a]?
28 “And why do you worry about clothes? See how the flowers of the field grow. They do not labor or spin. 29 Yet I tell you that not even Solomon in all his splendor was dressed like one of these. 30 If that is how God clothes the grass of the field, which is here today and tomorrow is thrown into the fire, will he not much more clothe you—you of little faith? 31 So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ 32 For the pagans run after all these things, and your heavenly Father knows that you need them. 33 But seek first his kingdom and his righteousness, and all these things will be given to you as well. 34 Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own."
Nice plug for honest communication and the values exercise. There is much unlearning and relearning to do later in life.
Good stuff, but the sound quality is bad.