2070: [Part 2] Are You Feeling Lucky? The Two Schools of Retirement Income by Darrow Kirkpatrick

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Investing, Business, Education, Self-improvement

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🗓️ 19 October 2022

⏱️ 11 minutes

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Summary

Darrow Kirkpatrick of Can I Retire Yet talks about the two schools of retirement income. This is part 2 of 2. Episode 2070: [Part 2] Are You Feeling Lucky? The Two Schools of Retirement Income by Darrow Kirkpatrick Darrow Kirkpatrick is the founder of CanIRetireYet.com. He began serious investing in his mid-30s and retired at age 50. He's not a dot com millionaire and didn't become financially independent by flipping real estate or trading hot stocks. He did it the traditional way: hard work, frugality, prudent investing, and patience. When it comes to personal finance, his top priorities are simplicity, reliability, and safety. Now his mission is to help others become financially independent as he did. More recently, Chris Mamula has been managing the blog and he's a frequent writer on the site. Chris used principles of traditional retirement planning, combined with creative lifestyle design, to retire from a career as a physical therapist at age 41. After poor experiences with the financial industry early in his professional life, he educated himself on investing and tax planning. Now he draws on his experience to write about wealth building, DIY investing, financial planning, early retirement, and lifestyle design. The original post is located here: https://www.caniretireyet.com/are-you-feeling-lucky-the-two-schools-of-retirement-income/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	If you are a lover of affirmations or you've just heard about how powerful they can be,
0:07.1	then you are going to love the Daily Affirmations for Women Podcast, created by the Women's
0:12.9	Meditation Network and hosted by the amazing Jodi Aegard.
0:17.4	Every morning you'll receive an episode that is dedicated to one specific affirmation,
0:22.2	so you can have this space to reflect on it and receive the power within it.
0:26.4	Follow and start listening now to the Daily Affirmations for Women Podcast on your favorite
0:31.6	podcast player.
0:35.4	This is Optimal Finance Daily, Episode 2070.
0:39.0	Are you feeling lucky?
0:40.5	The two schools of retirement income, Part 2, by Derro Karpatric of CanIRetireYet.com.
0:47.8	And I'm your host and personal finance enthusiast, Diana Merriam.
0:52.2	Today's post is actually a continuation from yesterday.
0:55.6	So if you're new here, it'd be best to listen to yesterday's episode first.
1:00.1	But if you're all caught up, let's hear Part 2 and continue optimizing your life.
1:09.4	Are you feeling lucky?
1:11.1	The two schools of retirement income, Part 2, by Derro Karpatric of CanIRetireYet.com.
1:19.4	The most important distinction, risk management.
1:23.7	The financial industry, whether insurance agents or investment advisors, would like you
1:28.8	to believe the retirement income debate comes down to security, safety first, versus upside,
1:35.3	probability base.
1:37.2	You're asked to choose between playing it safe or maximizing your retirement lifestyle.
1:42.5	In fact, framing the debate that way is a distraction.
	...

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