Retirement Tips & Living Your Best Life to Beat Inflation | 10 Rules of Retirement

Publicado 2024-05-11
This video is about New Retirement Rules for Living in a High Inflation Economy. We give 10 retirement tips for beating the effects of this high inflation economy and how senior citizens can live a better life.

The finances of retirement planning are getting more difficult all the time with high inflation, higher living costs, higher taxes and more. We have personally changed the rules of retirement in 10 areas that have helped us reduce costs in retirement.

The first of our 10 retirement tips for seniors is to spend some time living abroad in low cost countries. Retirement travel in many countries like Colombia, Thailand, and Albania can have huge savings.

Our second big retirement tip is to live in a tax-friendly state with no state income tax. We have our residence in Florida, and along with not owning a home, we pay no state income tax and have no property tax. Make reducing taxes a priority in retirement.

Our third tip for beating inflation and helping seniors live better is to get debt free. Having no debt, especially in today's high interest rate environment, helps retirees have a much lower cost of living.

Our fourth retirement tip is to consider downsizing. We have saved a lot of money, reduced our living expenses, and enabled us to have more freedom for things like retirement travel by downsizing.

The next tip for a better retirement is to realize your kids don't want your stuff. Don't hang on to your things and consider a process like Swedish Death Cleaning in your early retirement days. It will save you money and give a wonderful gift to your children.

The retirement advice is to not spend money on expensive toys that you rarely use. Some examples could include a second home, a timeshare or a boat. Becoming a snowbird always sounds great, but may not make good personal finance sense.

Another way to consider creative living in retirement is to evaluate having a "granny pod" at your children's homes. A separate bedroom and living area, that adds value to your children's homes, and enables you a place to stay when visiting.

Have you considered a side hustle in retirement to help make a little extra money. There is a Japanese concept called "ikigai" that can help you find your right purpose of living and potentially a great income stream in your golden years.

The ninth rule is "cheap is good, but free is better." Make sure you explore all available senior discounts that are available to retirees to help reduce costs.

The last rule involves being very proactive with your health. Good health will not only help you reduce costs, but help you live a longer, healthier, and happier retirement.

If you have found these 10 retirement tips helpful, please share with a friend.

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Video Number 164

#retirement #retirementgoals #worldtraveler #retirementtravelers #retire #retirementplanning #retiredlife #retirementplanningtips #travelabroad #travel #retirementadvice
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00:00 Introduction
01:15 Retirement Travelers Website
01:40 Rule #1: Living in Lower Cost Countries (Geoarbitrage saves Money)
03:40 Rule #2: Pay Less Taxes in Retirement (Live in Tax-Friendly States)
05:15 Rule #3: Becoming Debt Free in Retirement (Making it a Priority)
06:10 Rule #4: Consider Downsizing Your Home (Living Tiny)
07:28 Rule #5: Your Kids Don't Want Your Stuff (Swedish Death Cleaning)
08:31 Rule #6: Use it or Lose It (Expensive Retirement Toys)
09:47 Rule #7: Consider a Granny Pod (Creative Retirement Living Options)
12:55 Rule #8: Rule of Ikigai (and not Retiring by Doing Something you Love)
14:03 Rule #9: Rule of Cheap is Good, but Free is Better (Getting Senior Discounts)
15:05 Rule #10: Prevention over Cure (Maintaining your Health in Retirement)

Todos los comentarios (21)
  • We love thinking outside the box in everything we do in our retirement lives. We hope today's video inspires you to think differently as we face a challenging financial environment in retirement. Happy journeys and many blessings, John and Bev retirementtravelers.com/
  • @maryegerton6848
    Perfect! I get what you mean by a granny pod aka a basement apartment. I am selling this house in ridiculously expensive Ontario Canada, and moving to way cheaper New Brunswick. The plan is to pay off their house, fix up the basement for myself and live with no expenses after that. This was my son’s idea. I thought it was pretty smart. They get a mortgage free life and I can travel the world and always have a home to come back to whenever I choose to. Quite symbiotic. 🎉🎉😃
  • @juyint
    A person does not have to be in the same age, financial situation, family etc. to make your tips work. Each person or couple can take your advice and form fit it to their needs and desires. We are in our early 70s and late 60s with no grand kids so we will have different goals. Maybe the most important is getting debt free. We enjoy your well thought out advice. By the way, I was in the video/film biz. I know what goes into writing, shooting and editing these pieces. Hats off for a job well done.
  • @ONWorldTravel
    Guys this was so well produced! Johns delivery is epic! Looks like he’s been on tv for years haha love it 🤘🏽 y’all are helping thousands of retired people travel and experience a new world. Love it!
  • @brucesnyder690
    Retired expat from the US living in Thailand six years. Everything great here. Havent missed the US for a moment.
  • @onetexan1058
    I have learned SO MUCH from both of you. It's wonderful your kids have made living quarters for you at their homes. Our mantra is we live our lives in pre- & post-retirement the way we want. We don't care what other ppl think. World travel is an amazing way to experience new places, cultures, see how ppl live in other countries, trying new, delicious food and enjoying it all. Keep up the videos. What you're doing for retirees the world over is NOVEL!! :)
  • @elizaC3024
    I was pushed to sell our 6 bedroom 3 bath bi-level, due to a disability. Now I look back and see that the devine intervention of my choice was a blessing. We moved to our 2nd home a rural cabin 2 bed 1 bath on 30 acres of woods. Very low taxes, we had already done a remodeling over the years, and all we did was look at it as needing tweaking to be able to age in place. We love our small home, and it allows us to save over 70% more of our money 💰. We are beginning to travel for extended periods of time. Last year was 7 weeks, this year 5 months. We will spend our winter months in a very low cost country, after 2 transition cruises. We are very excited to be able to get back out on the road again. We unfortunately did move too much stuff with us, yeah with the thought that the kids would want it.😅😅😅.Nope. So now we are selling loads on eBay and we are looking at setting up a stand at a local farmers market to sell bigger things locally. It will take years to get it down, but we are making huge strides.😊
  • @robertross8565
    Fantastic advice!! Having the second home is a huge one. We had a family cottage for about 50 plus years and my children and my nephews got to spend time with their grandparents. Once my parents died we made the difficult decision to sell it. It just wasn’t the same after my parents were gone. We all had wonderful memories there but I honestly don’t regret selling it. It allowed me and my two sisters to significantly pay down debt. Not having to maintain the property was also a huge relief as well. When I went backpacking around Europe in the late 70’s for 4 months when I was 19, everything I needed was on my back. Both of you are proof that it is possible to live a wonderful life without dragging around more stuff. Good on you for making those hard choices early in your retirement.
  • @swetzel3966
    Good post. 2 points : We RVd full-time for 9 years and volunteered in National Parks = stay free. You can also work if you choose. We had to sell our 40 ft. diesel because of moving into a house for retirement planning purposes. If we had had a much smaller or possibly a trailer or 5th wheel, we could have kept it in storage. Big diesels need to be used. We live in the Fort Worth area in TX and selling a house. Property taxes and insurance very expensive, weather hit or miss with hail and storms. Here your property taxes pay for schools, fire, bonds, lots of things because NO state tax. Insurance for car and homes skyrocketing in cities and rural areas of Texas. We're doing our traveling too. Going whilst it's good 👍 Enjoying your posts. Thank you both.
  • @johnkelley1426
    Thanks for sharing. Used many of your ideas on a 5 weeker to Madeira, Portugal, Algarve where we hiked, toured, and biked - then capped it off with Seville and Gibraltar. Beth's packing convinced my doubter that she could thrive with 2 small bags! Our next trip is to spendy: Ireland & UK focusing on our lineage from recent genealogy work (not London, been there). We sorta have a granny pod - it's a granny drawer for pjs, slippers, robe, toiletries, etc. Kids scattered, 1000+ miles. Recently put down our folks who stayed in houses too long. One can either make retirement living choices for oneself, or have circumstances make those choices for one. It's better to get ahead of the curve.
  • @travelman677
    Great video once again. Love the way you two always think differently about travel and retirement.
  • @pamelanurse2024
    Great video! As a solo traveler I feel the need for a base in the US and travel part time around the world for about 6 weeks at a time. There’s nothing like my own bed. I moved from expensive New England to less expensive southern US and love it here. I miss my church family if I am gone too long. It’s difficult to make deep friendships on the road although I love meeting new people along the way. I also got my permanent residency in Mexico a few years ago in case I need to exit the USA and went to Spanish language school when I first retired. Language schools are a great safe way for solo travelers to meet other people while stimulating your brain!
  • @RetirewithJulia
    POWERFUL video with real action steps for people that want to live happy like you guys. Thank you for these tips! <3
  • @joycewright5386
    I’m so jealous. This has always been my dream but sadly my husband is perfectly happy to sit at home and cut grass.
  • @airstreamer
    We agree with you on all these points!! Thank you for always communicating great information. Michelle
  • @gyrokyro
    Great info John and Bev…I retried end of January and have been traveling full time for last 2 months…New Zealand (did Northern Explorer, Coastal ), Singapore, Thailand, Indonesia, and finished in Australia…full time I realize takes a lot of planning and lots of energy…glad to be back in my home state of Hawaii to rest and regroup…off the Andalucia in the Fall…you videos and website have been invaluable in helping me plan…great resources…so I’m very grateful to you both…hope our world travel’s intersect at some point so we can share some time, eat great food and “talk story” like we say here in Hawaii…Mahalo!
  • @wesgraham2262
    If you’re single with no children depending upon your physical presence, 100% out of debt and you’re getting a solid, dependable bank deposit every month from social security, a pension or a trust you can retire and travel the world, or pick a spot and live comfortably especially in southeast Asia on $1,000 to $2,000 a month. I’ve been doing it for years with a small backpack and a small carry-on suitcase as a fulltime PT (perpetual tourist). 😎
  • I moved to Medellin 15 years ago (when there were no tourist) and also had a farm by the airport in RioNegro. The people are so laid back and truth be told I have never had a single argument except the time I went to LA for the weekend.
  • @vickig6080
    Thanks for these ideas, info and helpful tips! You guys are rockin' it!!