Rethink Retirement - well-being beyond your bank account | Clare Davenport | TEDxBYU

Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket.

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

I don't understand why you have to live like a pauper just because you are retired. I have always maintained that retirees who struggle to meet their basic needs are the ones who did not invest in the right place. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad depended on pension fund to handle her retirement. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

I retired six years ago at age 66. I embrace slow living. I embrace minimalism. Quality of life.

5 years ago, we sold our business. I'm so busy now, I have no idea how I ever had the time to go to work! Reading and learning, cycling and skiing, hanging out with friends and neighbors. Travel, camping, gardening. There's so many wonderful ways to engage your mind and body. Volunteer, work for a charity. Leave the world a better place for your grandchildren. Ultimately, it's all your choice.

Retired three years ago as an international airline pilot, grad of BYU. Haven’t adapted well. Suppose it’s a Tuesday morning, temp outside is 42 degrees, it’s 10 AM. You’ve had a bite, listened to the news, worked out for an hour….now what? What do you do the rest of the day and tomorrow and the next. I’m going back to work this month as a corporate jet pilot. Can’t wait. Don’t need the money. Secret to life is someone to love, something to do and something to look forward to.

Retirement is wonderful if you have two essentials — much to live on and much to live for. Invest wisely and get good returns.

Retirement in my view is not necessarily about stopping, but having the freedom to use your time as you choose. It could include work, full time, part time, volunteering or whatever else you choose…. It’s the ‘freedom’ aspect. It gives more choices to find your way to fulfillment, better health or whatever it is you’re wanting… the hardest question for many of us in life, is ‘what do I want?’ and the less challenging part is figuring out how to find it… love the video and comments. Thank you

I’m glad I pulled through, despite the crises. I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts ... Stay Motivated!!

My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

As a senior, I advise others to retire as early as possible, and learn how to live on less so that they can. I think what people need to do is actually talk to and listen to seniors who are retired, instead of young folk who think they know what it will be like for seniors after they have retired. Notice that all advice regarding retirement living/investing all focuses on long-term investments. What about the day you are ready to retire? If the stock market is in the gutter on that day, you don't have 10 or 20 years for it to recover, for one. Also, when you're 30 or 40 or even 50, you are thinking of what will make you happy at that age, and what you are physically able to do at that age. I learned, for instance, that I hurt a lot more at retirement age than I ever thought I would, and that I actually like staying home and don't really enjoy travel anymore -- so all those travel plans and hiking, etc., are no longer what I really want to do. Learn how to be content with less, with what you have - that's what I've learned is the true secret to happiness. And learn how to love doing nothing.

I went back to work after retirement. The trick is, love what you're doing. I work because I want to, not because I have to.

I'm in my 30s. I don't ever expect to be able to retire. So. I work part-time at a place that's ok. And part-time pursue a hobby/future career in something I love. Life is too short to wait till you're almost dead to actually live.

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

Joined the Army at 18. Retired from the army at 39. Retired as a MAJ, full pension, invested well. Real estate with rental homes that cash flow well. Money was never going to be an issue. I happen to love golf and tennis. I love routines, guess the army got me into that. I planned my retirement for years. The day I left active duty I got on a plane to the Philippines where I already had a home that I had built little by little for the previous 3 years. It was exactly what I wanted. Home is in a country club with a golf course, tennis courts. I get up in the morning have my coffee, go to the country club, relax talking to expats, play some basketball or tennis or a round of golf, afternoon I watch a little tv, in the evenings I go to restaurants. Shopping on weekends, weekly massages and foot spa and pedicures. I volunteer and give some lectures at both the local university and the military bases here to stay active and engaged. Meet with expats and am involved with the local VFW and the VA clinic to help veterans. I love my life in retirement and 42 and I don’t plan on working for a paycheck ever again. I live in tagaytay philippines in my dream home, have condos in Manila and Cebu, as well as rental properties in Texas and Florida. I have a property manager in the states and I pay my brother to handle the day to day stuff back in the US. I really have zero interest in ever going back to the US or back into the workforce… I’m not bored at all. It’s been 3 years but I can’t see myself getting tired of my life.

Let’s not sneak up on the future, let’s celebrate today! The problem for many people is they don’t except the fact we are going to die, it’s something we are not taught because it’s such a taboo subject. I retired at 73, got divorced the same year, moved into a rental apartment, realised property & possessions are the very things that keep us on the treadmill for all of those years, it’s as if we think we can take those things with us into the next life. We worry about our image & how others view us, nice car, beautiful home & garden. Comparing our children, making comparisons all our working lives & feeling inadequate if others seem to be doing better. I wake up now & think today is another adventure, today is the most important & only day we may have, embrace it like a sunrise!