How to Retire and What to Expect - we are Tina and Norm and we talk all things
retirement - We do indeed and if you're new to our channel and you haven't been here before
we would really appreciate if you could consider subscribing to us
- So what to expect when you retire - Yeah that's a biggy isn't it - it's a big question we have
lots of people asking us that - We had no clue what to expect when we retired
- No we didn't it was quite the journey wasn't it - It is so the number one thing you're going to
experience and this might just creep up on you is freedom don't you agree Tina - Absolutely - And
Tina's a very positive person so she always looks on the glass half full I'm a glass half empty type
of person so Tina she's always saying look at what you're gaining not at what you're losing
you're not losing a job you're not losing your identity you're getting a whole new beginning and
look at it positively - And it's all very very exciting isn't it - It really is it is a whole new
beginning and totally different to what you've been used to for the previous part of your life
- So one of the things that I'm sure a lot of people are interested in is do you want to retire
at 55 - I certainly did I wanted to and I did - Yeah one of the biggest things that we would say
here if that's what you want to do is plan, plan and plan, even more because you definitely have
to put in place a plan of how you're going to do it to achieve it - Don't just quit the job and then
- Oh now what's the plan what you have to think about is where is the money going to come from
isn't it - Very much so the sources of income it is difficult because you can't you can't
collect in Canada your CPP until you're 60 and then the state pension you're allowed
to get that at 65 in some countries it'll be 67 so you have 10 to 12 years of retirement
that you're going to have to fund out of your own pocket - To bridge that gap
- Where are those sources of income to come from Tina - Well one of the biggest sell
your home, now this is what we did made the decision that we would sell the house
invest the money, I think that was one of the best decisions we've done - It really was
also helped us at the same time was, this is a new trendy name, sometimes we don't
feel that trendy, but have a side hustle - Oh yeah it's really trendy Norm - We had started doing that
about 15 to 16 years ago through photography supplying stock images to picture libraries and
also stock video clips as well so we had that side hustle which really
paid a lot of our early retirement at 55, the thing we would say about side hustles and we think
of ourselves quite experienced at this so if you were looking at a Youtube channel
maybe writing Kindle books doing voice-overs any of these internet based things like an Etsy shop
or doing t-shirts the one thing about internet based side hustles is they take time to get going
- Yeah they do - Our photography in the first couple of years didn't pay much at all
if you were to start a Youtube channel I would say you're gonna have to go at least 2 to 3 years
before you see much income - Absolutely time is something you have to take into account
- If you were planning to do that and you wanted to retire 55 when would you suggest
- I would say when you're 47, 48 starting to put a plan in place to build things like
- Start a Youtube channel or start whatever side hustle you want to do - Now there are also
other things too Norm that there is part-time work there you don't have to just do nothing
if one or both of you wants to do part-time work you can do that - Yeah working a few
hours in a week is a great way to get some money you're not putting full 8 hours in you maybe
work two or three days a week maybe at a hobby that you're doing - Plus it's another thing
where you'd end up meeting people too - It is yeah and that's one of the things of retirement you
don't want "social isolation" to become a problem. We had friends that were avid golfers so they
volunteered at the local golf club - Oh yeah it's like Marshall's - Yeah and setting people off from
the 1st tee they got free golf because of that - So that was a big perk to them
- So one of the things that we did and we would highly recommend this we downsized,
we sold our house we moved to a cheaper area and we looked at the whole thing as a complete
new beginning - So in many ways it was the start of our retirement so yes we retired early
but we moved immediately as well - Yeah - And so it kind of took away any of that fear
because you were so busy downsizing moving finding a new place to live
- And it kind of it puts us in a new mindset wasn't it the, the new area you move to is a stimulus
to learn the new geography - Got to find out the lay of the land - Where the Beer Store is
- and meeting new people and in our case we're in an apartment so we could meet people
for coffee - And because of that we were so busy establishing a new home finding our way around
a new town it took all the fear of retirement away we didn't have time - To worry about,
we were so busy doing things one day we said how on earth did we
manage to work before - We get comments on our channel and we're grateful
to get these comments we love reading them, "What am I going to do when I retire",
- Well we've got lots of ideas to help you, learn something new
- I did that when I started with the photography I had to learn
Photoshop then when we started doing video I learned Final Cut Pro video editing and it just
feels good to master something it is but we think learn something
- For those of you who want to travel research travel find out about the places you want to go to
obviously that's kind of on hold at the moment - but this is the perfect time
to research we thought we were going to travel to Florida and the lower U.S. like Arizona Texas
-So we did a lot of research - Alabama - Didn't we - But while we were doing that we discovered
Portugal as an alternative and one of the things we found about Florida was that the property
prices the rentals had become quite expensive in comparison Portugal hadn't but through doing
research for travel we discovered Portugal - Which has proved great we've been there
- So many times - Another thing you can learn a new language
- If you read the comments of our Portugal videos - People are very polite in saying don't worry
about it - We get criticized for our poor pronunciation - At least we try Norm we
try when we're in Portugal we do try to pronounce the names of the places so learn a new language
learn a new hobby since we've retired I've taken up bird watching
yeah we've got a scope, looking at the birds on the lake - One thing that we would probably
suggest more than anything else is limit T.V. time and I know it goes against the grain here
we are on Youtube but don't become a couch potato in retirement no there's so much to do
- Because also too when you're sitting and watching T.V. a lot then you're probably
eating too much and you need to get out there and exercise so that comes under like learning
a new hobby in my case swimming and we're fortunate we have a beautiful swimming pool
here which normally is open and I go swimming - It should be opening again soon
I think the stay at home order's just gone hopefully the pool will open soon - Another idea
because a friend of ours is doing this for whatever reason went and bought an Air Fryer
a couple of years ago and I haven't really used it a great deal and then we told a friend about it and
so they decided let's go get an Air Fryer he has immersed himself in the Air Fryer and
he's feeding back ideas to us and now we're doing it and - So we're even using ours even more than
we did before - We're saying buy a new appliance and master it there's lots of Youtube information
about Air Fryers and the Instant Pot thing - I was going to say the Instant Pot that's another one
lots of great things you can do isn't there - How to retire what to expect, you can
expect a lot of freedom a new beginning and just embrace it for what it is hey Tina - Look at it,
it's a new chapter in your life lots of new adventures and we just absolutely love it don't we
- We do - And in our case start a Youtube channel - And don't become paralyzed with fear there's
nothing to worry about, make sure that you've planned where that first 10 years of money
is going to come from because that's the last thing you want is have money problems
so get rid of your house get rid of your debt buy a smaller house or rent an apartment
and you'll be golden - Yeah that's our secret isn't it- So thanks for watching - Yeah and we hope
everybody's staying safe and keeping well - We certainly do - And until the next time bye bye