3 Reasons To Retire As Soon As You Can - Retirement Planning

the big question is when is the right time to retire if you've ever thought that before then this video is for you because we're going to go over the top three reasons to retire as soon as you can but then we're also going to go over when you should really think about not retiring the people that ignore this they end up regretting their retirement this is such an important topic because this can really be the best time of your life and I know that as a fact because it's not only because we talk to clients and we hear it often but there's also a research study that proves this as well people were asked to score their life satisfaction from a zero being the worst to attend being the most fulfilled 10 is the best possible zero is the the worst possible life and this is the average score by age let me pull it up for you remember in our 20s or maybe your your kids 20s where you're leaving the the joys of Youth and uh oh I got to get a real job now and it's this pit of uncertainty where you don't really know know what you're going to do next then we end up getting employment we start working but then the responsibilities of Life the responsibilities of families uh that is a that's a big big part of our life obviously but then look at this there's this amazing period of time late 50s early 60s all the way through 70s that's the peak of satisfaction that looks pretty good to me I don't know about you but the question is how do we get there so let's get into the top three reasons to retire as soon as you can so that we can enjoy life to the fullest now the first reason to retire is when you realize that that famous quote that you've heard before is actually false and the quote that I'm thinking of is that famous time is money we now know that that is actually not true because that might not make sense to you anymore because you're starting to realize or you already know that time is infinitely greater than money now what do I mean by that well there's something that we have less and less of every day and that's time but when it comes to money you might be at the place where your money is actually making you more money without doing anything but we know that money is not making any more time so reason number one to retire is time it's the scarcest asset we have it's even more scarce than the assets that we've got in our retirement accounts and that really leads into number two which is what we do or how we spend our time you know if we retire and now we have all of our time to use however we please well it's not going to be that great of a retirement if we're spending our time sitting on a porch sipping lemonade all day and not doing anything else I know you don't want that for your retirement you probably want something more uh something more engaging than that and what we need to do is use our time and our energy while we have it which is reason number two it's energy or we could also say health you know a big reason why so many clients they decide to retire as soon as possible is because the three phases of retirement which are you've probably heard them before and it's around these ages It's the Go Go years it's a big font hold on a sec and then it's the slow go and then as you get much older it's the no-go years those are the three phases of retirement and we want to make sure we're capitalizing and spending the Go-Go years the ways that we want to while we're still young our clients want to do the things that require healthy bodies and energy well we actually have both you know whether it's travel or Hobbies or Sports some sort of activities or it's keeping up with the grandkids we want to be young enough and healthy enough to do those things that bring us joy and fulfillment and sometimes depending on your work your work can actually be adding more stress to your life which ends up impacting your health negatively it often does move on to the third reason to retire as soon as you can coming up followed by the reason why you should definitely not retire but let me know what you think about this video so far if you like it click the like button because that helps me determine what kind of videos are the most helpful to you so reason number three is something we need our time and our energy for our health for and that's our relationships you might have heard that story of that hospice nurse that wrote a book she she helped people during the last few weeks of their life and she often asked them if they had any regrets or if they would do anything differently if they could go back in time and two out of the top five answers were one I wish I hadn't worked so much and then two I wish I had stayed in touch with my friends that's a little bit sad but we can learn from this it's not too late you've got people that you desire to create deeper relationships with during the the golden years the best times of your life and it's a perfect time to do that even though you might have lost touch with old friends because of family because of work because of all the things of the last 20 or 30 years we often see them reuniting after work takes up less of their time or less of their life it's that idea of connection it's such an important part for a healthy and happy retirement it's actually one of the three C's that is uh that's an essential to retirement those three C's I'll pull up right now which are connection creativity this can also be curiosity you know learning and then this last part is contribution to others if you can remember those three and practice them retirement can be the most fulfilling Time of Your Life those are important connection creativity and contribution now let's not forget about when you should not retire and that is when you're currently receiving and getting these three things from Work Connection creativity and contribution to others but you're also not sure if you're going to be able to continue those if you were to stop working you know what I mean if you've got those three things and it's not adding too much stress and then you move into a retirement where you don't have those three things or all of them going from a fulfilling career to a boring retirement can be a bit of a letdown and a big adjustment period I know there's many factors at play you know time and health and stress levels and things like that but just keep those three C's in mind as you're evaluating your future one final piece of advice that I got from retirees who are a few years ahead of us they're in their 60s most of them and I was asking them questions and I asked them what advice would you give to someone who is not yet to retirement or getting close to retirement and this actually comes from another video that I've got and I'll put it on the screen somewhere or down below but the number one piece of advice that they gave to someone who's close to retirement is do it sooner as always talk to your retirement specialist before making any big decisions if you don't have one reach out to us at streamline Financial by clicking on the get started button on our website and we'll get back to you you know we don't always have time but I'll get back to you either way but I hope that video was helpful if it was share it with a friend and then subscribe so that I can see you in the next one take care

Channel: Streamline Financial

Views: 160,588

Keywords: retirement calculator, retirement planning, retirement income, retirement investing in your 50s, financial planning, how to retire, 4% rule, retirement, roth ira, investing, 3 buckets strategy, how to withdraw money in retirement, how much to save for retirement, financial advice, social security retirement, how much do i need to retire, retirement withdrawal strategy, retirement planning at 60, retirement planning at 50, Chicago financial planner, naperville financial planner

Id: dW78Y304VsM

Length: 7min 34sec (454 seconds)

Published: Sun Apr 16 2023