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Reacting to the Most Watched Retirement Video of the Year

Reacting to the Most Watched Retirement Video of the Year

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Over the past year, one retirement video on YouTube pulled in 3.7 million views. The title: "Sell These 5 Things Before You Retire." We thought it was worth a conversation — not to tear it apart, but to react honestly. Do we agree? How often do we actually see this play out with real clients? Let's get into it. Important Links: Website: http://www.yourplanningpros.com Call: 844-707-7381 ----more---- Transcript: Marc: Over the past year, one retirement video on YouTube pulled in 3.7 million views, the title, Sell These Five Things Before You Retire. We thought we would talk about those five things this week here on the podcast and break it down a little bit with Tony here on Plan With the Tax Man. Welcome into the podcast, folks. Thanks for hanging out with Tony Mauro and myself, as we talk investing finance and retirement. And yeah, the top video of 2025 for retirement was 3.7 million views, Tony, and it's Sell These Five Things Before You Retire. So, we'll keep that in mind as we're breaking these down. I want to get your take on each of these, and does it make sense to you? Do you see that often? Just let us in on your insights as a planner who's been doing this for many years. So, this should be fun. How you doing, my friend? Tony Mauro: Yeah, I've been doing good, been doing good. This is a good topic because I think we as planners get asked these things a lot. This was a really good video. And I did view it, I agree with most of it. Marc: Yeah, I do too, yeah. Tony Mauro: We'll break it down a little bit and have some fun. Marc: Yeah. Well, let's start with the biggie. The oversized house. I think this is a huge question for obviously many, many people. Obviously, it resonated with lots of folks because yeah, I mean, it could maybe free up some significant money. Now, however, depending on what you want to do, housing prices are still pretty high. So, but I do agree overall with this concept. If it's this big place that the two of you don't need anymore, well, that's something to consider. Tony Mauro: It is, and all of these topics really I would preface with saying it begs the question to at least discuss with your planner, because they're selling... In the video they're saying, "Okay, yeah, do this, this, and this." I don't agree with it all the time, but at least you're asking the question. But the theory here is, is obviously if you've got a big house, only two of you in it, no mortgage, maybe don't want to take care of it anymore, have had it a long time. Could sell the house, take the tax-free gain most of the time, and then either downsize and possibly have more money in your pocket to do something else with. Now, where I disagree with this a little bit is because housing is the way it is, it seems like a lot of times when people go to sell property, at least in the Midwest, down the coast, maybe if you can make a lot of money that's a different story. But they find out, well, I make two or 300,000 on it, and then I go to find something even though it's smaller and I got to invest all of my proceeds plus the gain because things are up from when I bought, and they don't really get as far as they thought they would. But the theory is good because if you're, like in my own case, I have a fairly large yard and I talk with my wife right now. I was like, "As we age, do we really want to take care of this?" And we own the house already and it's too big just for the two of us, but I don't know. I don't know if I want to leave. So, it's a good question to talk about with your advisor, for sure. Marc: Yeah. I mean, and it could, to your point, I mean, obviously add some significant capital to a retirement plan depending on, again, what you were going to do. Are you going to just maybe rent? Were you going to get a condo or a townhouse? But those have gotten really pricey lately too. So, it's a worthwhile exercise for sure to see what it could- Tony Mauro: That's right. Marc: ... do to your overall retirement plan. Number two on that list, Tony, was supporting or financially supporting the adult children, sell this item. I absolutely agree with this one, me personally. But I mean, and it's hard for parents to go against the instinct of helping, but you can't finance retirement, Tony. Tony Mauro: You can't, and I agree with you and with this point too. It is hard, I go through it with my own kids. Now I have a grandchild, and that's although I'm going to do whatever I want with her, but... And there's books been written about it about the... And I think it was from The Millionaire Next Door, I think it was from the book, but somebody was saying that that's economic triage. And then what happens is if you start supporting them, then they expect it. And like you said, they're going to have to go out and build their own [inaudible 00:04:29]- Marc: And they've got decades still to do it, you don't. Tony Mauro: They've got a lot of time, yeah. And you're ...
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