227: ‘Rocketing' To FI at Age 35: What’s Life Like Post-Retirement?

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 30 August 2021

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

What do you think of when you think about retirement? Are you on a tropical island drinking fruity cocktails out of a coconut? If you dream about that sort of retirement, Steve Adcock may have some revealing words for you. Retirement isn’t just about doing nothing all day, it’s about exploring your passions, and sometimes working more than you did before, to accomplish things that truly matter to you. Steve decided to leave his high-stress IT job after 11 years of work. It was eating away at him every day, and it got to the point where just going into work became a grueling weight on his shoulders. He knew from a few years before potential retirement that he had a choice: lavishly live his life now or live frugally and have financial freedom forever. He chose the latter and doesn't regret it for one second. Now, Steve and his rocket scientist wife spend their time taking care of their completely self-reliant housing compound in Arizona. He has a lot more to accomplish, but for now, he’s enjoying his off-grid lifestyle, complete with solar panels, his own water well, and a brand new septic tank. In This Episode We Cover Why it’s important to have a financial plan (even if you won’t retire early) Working (lightly) in retirement so you can enjoy more freedom Tracking your spending meticulously so you know where every cent goes Taking care of your health and wealth when given free time Spending in post-retirement, and how it differs from regular spending Why early retirement WON’T make you happy And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pockets Money Podcast, show number 227, where we interview Steve
0:05.1	Adcock and talk about life after retirement.
0:09.5	I didn't exactly know what I wanted.
0:11.6	I just knew what I didn't want.
0:13.4	And I think a lot of people out there really wrap their heads around that.
0:17.0	In fact, at one point, I honestly considered quitting my $120,000 job to get my CDL and
0:24.9	become a truck driver.
0:26.2	That was something that was on my plate for something that I might want to do.
0:29.8	Because I just really wasn't happy with what I was doing.
0:34.2	Hello, hello, hello, my name is Mindy Jensen and with me, as always, is my Ken Bench
0:38.3	press 225 pounds co-host, Scott Trent.
0:41.2	You're always raising the bar with these new intros, Mindy.
0:43.8	Thank you.
0:45.8	Scott and I are here to make financial independence less scary, less just for somebody else, to
0:50.6	introduce you to every money story because we truly believe that financial freedom is
0:55.0	attainable for everyone, no matter when or where you're starting.
0:58.5	That's right, whether you want to retire early and travel to remote Arizona, go on to make
1:03.2	big time investments in assets like real estate, start your own business, or travel the world.
1:08.1	We'll help you reach your financial goals and get money out of the way so you can watch
1:11.0	yourself towards those dreams.
1:12.5	That was a good one, Scott.
1:21.9	I didn't properly laugh long enough.
	...

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