9 Things to STOP DOING After 55 To Enjoy Life More

Summary

In this insightful video, Dave Zer from Streamline Financial shares nine key behaviors that lead to a happier and more successful retirement. He emphasizes the importance of valuing time, not over-saving, prioritizing health, reducing unnecessary worry, and spending wisely. Zer also advises retirees to distance themselves from negative influences, stop over-supporting adult children, be authentic, and let go of regrets, highlighting that the best years of life can still lie ahead.

Takeaways

• 🕊️ The happiest retirees prioritize not adding more things to their lives, but rather what they stop doing, which enhances their retirement success and life satisfaction.
• 📅 Successful retirees stop taking their time for granted, recognizing the limited weeks we have left and the importance of using time wisely and meaningfully.
• 💰 They cease saving unnecessarily, understanding that a certain point is reached where more wealth does not equate to more security or happiness.
• 🏥 Retirees prioritize health over work, especially when job stress begins to negatively impact physical and mental well-being.
• 🧘 Successful retirees stop worrying excessively, distinguishing between real fears and anxieties over imagined future dangers, and focusing on controllable aspects of life.
• 🤝 They stop spending time with people who do not uplift them, addressing the negative impact of such relationships on their happiness and well-being.
• 💸 Retirees stop spending money on things that do not align with their values, opting for investments in experiences and relationships that bring genuine joy.
• 👨‍👧 Over-supporting adult children is something successful retirees avoid, as it can create dependency and jeopardize the retiree's own financial security.
• 🌟 They embrace authenticity, stopping the pretense of being someone they're not, and living life true to themselves without conforming to others' expectations.
• 🚫 The happiest retirees let go of past regrets and live in the present and future, focusing on the possibilities ahead rather than dwelling on past mistakes.
• 📈 Lastly, they recognize that life satisfaction often peaks in the later years, with the 70s being a time of great contentment, encouraging retirees to look forward to this period of life.

Q & A

What is the main focus of Dave Zer's retirement planning firm, Streamline Financial?

Streamline Financial focuses on helping people around the country who are getting close to retirement, with an emphasis on tax planning, income planning, and investment planning.

Why do some retirees continue to work even after they have enough savings?

Some retirees continue to work due to a perceived need for added security or to increase their lifestyle in the future, even though they may not be deriving joy or fulfillment from their work.

What is the significance of the 'life in weeks' chart mentioned in the script?

The 'life in weeks' chart is used to visually represent the limited time people have left, encouraging them to recognize the preciousness of each week and to use their time wisely and meaningfully.

Why is it important for retirees to stop taking their time for granted?

Retirees should stop taking time for granted because health typically declines with age, and if they wait too long, the enjoyment of their wealth can be constrained by physical limitations.

What is the connection between stress from work and health according to the script?

The script suggests that stress from work can negatively impact health, affecting sleep, exercise routines, and overall well-being, which can be a motivation for some to retire.

How does the script suggest retirees deal with unnecessary worry?

The script suggests that retirees deal with worry by recognizing that they cannot control everything, such as market fluctuations or world events, but can control aspects like portfolio allocation, tax expenses, and spending behavior.

What is the advice given for retirees regarding spending money on things that aren't aligned with their values?

Retirees are advised to reflect on their spending and invest in experiences and relationships that bring genuine joy, rather than spending on material possessions that may only provide temporary happiness.

Why should retirees be cautious about over-supporting their adult children financially?

Over-supporting adult children can create dependence and potentially jeopardize the retiree's own financial security in retirement, as the children may have more time and opportunities to improve their financial situation.

What is the main regret people have on their deathbed according to the script?

The main regret, as mentioned in the script, is not having the courage to be true to oneself and living the life that others expected, rather than the life one truly desires.

How can retirees avoid living with regret according to the script?

Retirees can avoid living with regret by forgiving themselves for past mistakes, letting go of past regrets, and focusing on living in the present and looking forward to the future.

What is the potential impact of surrounding oneself with negative people, as described in the script?

Surrounding oneself with negative people can drain one's energy and make one feel worse about themselves or life in general, which is why it's advised that retirees distance themselves from such individuals.

Outlines

00:00

🌟 Embracing Retirement: The Art of Letting Go

The script introduces Dave Zer, co-owner of Streamline Financial, who discusses the key behaviors of successful retirees. He emphasizes that happiness in retirement isn't about adding more to life, but rather about ceasing certain activities. Dave outlines nine things that retirees should stop doing to increase their life satisfaction. He warns that the eighth point might be controversial but believes it's essential to share. The first point is about not taking time for granted, recognizing the limited weeks we have in life and the importance of enjoying our wealth while health permits. Dave suggests that if work is a source of joy, one should continue, but if it's causing stress, it might be time to retire. He also mentions the importance of not saving unnecessarily once one has enough for retirement, as the pursuit of more can detract from the enjoyment of life's later years.

05:02

🛑 Prioritizing Health Over Wealth: The Retirement Mindset Shift

In this paragraph, Dave Zer continues the discussion on retirement by focusing on health. He shares a story of a couple where the job was causing stress and negatively impacting the husband's health. The wife, Sarah, candidly admits the job is hurting her husband. Dave advises that if a job is detrimental to one's health, it's time to prioritize well-being over financial gain. He encourages retirees to focus on foundational aspects of health like sleep, nutrition, and exercise, and to stop investing time in unnecessary income or savings. Dave also addresses the audience directly, asking for feedback on their experiences with work-health conflicts and their decisions regarding retirement.

10:04

💡 Letting Go of Worries and Negativity for a Richer Retirement

Dave discusses the importance of letting go of worries and unnecessary stress in retirement. He points out that much of the anxiety we experience is over things we cannot control, like market fluctuations or political events. He suggests that reducing news consumption can lead to increased happiness. Dave also advises retirees to stop spending time with people who bring negativity into their lives, suggesting ways to handle such relationships, including having candid conversations or distancing oneself if necessary. He then transitions into the topic of aligning spending with personal values, encouraging viewers to reflect on their spending habits and to invest in experiences and relationships that bring genuine joy.

🚫 Breaking Free from Financial Support Dependencies and Regrets

The final paragraph addresses the issue of over-supporting adult children, which can create a dependency that may not be in the best interest of the retiree's financial security. Dave stresses the importance of ensuring one's own retirement is secure before extending financial help to children. He also touches on the broader theme of living authentically, encouraging retirees to be true to themselves and not to live up to others' expectations. Dave reminds viewers to let go of past regrets and to live in the present and future, highlighting that life satisfaction often peaks in the later years. He concludes with practical advice on embracing one's true self and making the most of the time we have left.

Keywords

💡Retirement Success

Retirement Success refers to the achievement of a fulfilling and satisfying life after one has stopped working. In the video's context, it is linked to the idea that the happiest retirees are not necessarily those who have added more to their lives, but rather those who have stopped doing certain things that may have been detrimental to their well-being. The script mentions that the most successful retirees have stopped taking their time for granted and have learned to enjoy the fruits of their labor, which is a key component of retirement success.

💡Life Satisfaction

Life Satisfaction is a broad term that encompasses a person's overall contentment and happiness with their life. The video emphasizes that the happiest retirees have increased their life satisfaction by making conscious decisions to stop certain activities. For example, they prioritize their health over work obligations, which directly contributes to their life satisfaction by reducing stress and improving well-being.

💡Time Management

Time Management is the efficient and purposeful use of time. The script introduces the concept of not taking time for granted and treating each week as precious, which is crucial for retirement planning. It suggests that successful retirees understand the limited nature of time, especially as they age, and make meaningful use of it, avoiding unnecessary stress from overworking.

💡Wealth Accumulation

Wealth Accumulation is the process of increasing one's financial assets over time. The video points out that while wealth typically grows as people age, it is essential not to let the pursuit of wealth constrain the enjoyment of life, especially in retirement. It is mentioned that some individuals continue to work and save excessively, even when they have enough, which can detract from the quality of life in their retirement years.

💡Health Compromise

Health Compromise refers to situations where one's health is negatively affected due to other obligations or stressors. In the script, it is highlighted that the happiest retirees stop compromising their health for the sake of work or additional income. The example of a retiree whose job is causing stress and impacting sleep and exercise routines illustrates the importance of prioritizing health over financial gain.

💡Worry and Anxiety

Worry and Anxiety are emotions that stem from concerns about future events or situations. The video discusses the impact of unnecessary worry on one's life and financial decisions. It suggests that successful retirees have learned to let go of worries that are not based on real and present dangers, focusing instead on things they can control, such as their spending behavior and portfolio allocation.

💡Social Relationships

Social Relationships pertain to the connections and interactions one has with others. The script advises retirees to stop spending time with people who do not uplift them, as these relationships can have a negative impact on their mental health and overall happiness. It encourages maintaining relationships that bring joy and avoiding those that contribute to negativity.

💡Value Alignment

Value Alignment is the concept of ensuring that one's actions, decisions, and spending are in line with their core values. The video encourages retirees to reflect on their spending and invest in experiences and relationships that bring genuine joy, rather than material possessions that may only provide temporary happiness. This concept is linked to the idea of living a fulfilling retirement that is true to one's values.

💡Adult Children Support

Adult Children Support refers to the financial or emotional assistance provided by parents to their grown children. The video script mentions that over-supporting adult children can create dependence and advises retirees to secure their own retirement before extending financial support. This is a delicate balance, as it involves the desire to help one's children while also ensuring one's own financial stability in retirement.

💡Authenticity

Authenticity is the quality of being true to oneself, rather than conforming to others' expectations. The video emphasizes the importance of being authentic in retirement, suggesting that the happiest retirees have stopped pretending to be someone they are not. It encourages embracing one's true self and living a life that aligns with personal desires and values, rather than societal pressures.

💡Regret

Regret is a feeling of sadness or disappointment over something that one has done or failed to do. The script discusses the importance of letting go of past regrets and living in the present and future. It suggests that successful retirees have learned to forgive themselves for past mistakes and focus on making the most of the time they have left, which is particularly relevant as they look forward to a potentially more satisfying period of life in their retirement.

Highlights

The happiest retirees stopped taking their time for granted.

They recognize the limited time they have left and make the most of it.

The happiest retirees stopped saving unnecessarily once they have enough.

They prioritize health and well-being over work when it becomes too stressful.

Successful retirees stopped worrying excessively about things they can't control.

They reduced news consumption to improve happiness.

They stopped spending time with negative people who don't uplift them.

Retirees stopped spending money on things that aren't aligned with their values.

They reflect on their spending to invest in experiences and relationships.

They stopped over-supporting their adult children to prevent creating dependence.

They stopped pretending to be someone they are not and embraced their true selves.

They stopped living with regret and focused on the present and future.

The happiest retirees forgave themselves for past mistakes and looked forward to a future of contentment.

Retirees who enjoy work and find it meaningful should continue working if it brings them joy.

They use an income plan to understand the impact of working an extra year on their financial security.

Transcripts

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

video 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 video

in this video 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 video 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 video that's on the screen

and that's the values exercise then I'll

see you in the next one take care