4.4 • 1.1K Ratings
🗓️ 5 September 2024
⏱️ 8 minutes
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0:00.0 | So you want to retire early, but you don't have a strategy in place to do it. |
0:09.3 | That's what we're going to talk about in today's video. |
0:11.1 | How to retire early step by step now your parents and |
0:14.5 | grandparents probably lived by the idea of working hard a 9 to 5 job right saving |
0:19.0 | money inside a traditional savings account in a 401k and then enjoying the fruits of their labor at retirement. |
0:25.8 | They would retire in their 60s and then live their great years, right? |
0:30.3 | And it probably worked to a certain extent, or at least that was the promise of it. |
0:34.4 | But so much has changed in the world in our recent generations. |
0:37.5 | Society and the government continue to perpetuate this idea that we should be retiring in our 60s. |
0:42.0 | But why? Why should you wait so long to start |
0:45.0 | living the life that you want to live it makes no sense of course this really was |
0:49.4 | the premise behind Tim Ferris's book, The Four Hour Work Week. |
0:54.0 | Live the life that you want now. |
0:56.0 | Structure your life the way you want now. |
0:58.0 | Today we're going to unpack some of the flawed thinking behind retiring on a pile of cash, and I'm going to share with you the early retirement |
1:05.2 | vehicle that I personally use to escape the rat race and begin building passive income. |
1:10.1 | So first, let's talk about the problem with traditional retirement accounts. |
1:13.7 | The 401k was created to supplement an employer-funded pension plan. |
1:18.6 | They were meant to go together. |
1:20.1 | Up until the 1980s, the pension was the most frequently used retirement plan. |
1:24.4 | But today traditional pension plans are extremely rare. |
1:27.6 | Data shows that the 401k rarely adds up to a comfortable retirement. |
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