277-Early Retirement FAQs: How Do I Plan For Inflation? Interview with Joe, AKA. Arebelspy (who just retired at 30 on a schoolteacher's salary)
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.4 • 1.9K Ratings
🗓️ 8 January 2016
⏱️ 93 minutes
🧾️ Download transcript
Summary
Today we continue with our "Early Retirement FAQ" series with Arebelspy by tackling the topic of inflation! How do you manage inflation risk in retirement? And, even more important, how do you manage inflation risk in very early retirement?
This topic is especially important to Arebelspy because he and his wife just retired at the age of 30 and are now traveling the world together! (Even cooler, they did it while earning schoolteacher salaries!!!)
Enjoy!
Joshua
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Transcript
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| 0:00.0 | Do you have some money in your bank account? |
| 0:02.0 | Good, that's a good place to start. |
| 0:04.5 | If not, don't worry about today's show. |
| 0:06.9 | Just skip to a different show. |
| 0:08.4 | But if you do have money in your bank account |
| 0:10.6 | or some type of account, are you aware that just about every day that money is losing value? |
| 0:19.3 | It's becoming worth systematically less and less. This we like to call inflation and it's a careful |
| 0:25.9 | design of our currency. In fact the controllers of our currency supply, the Federal |
| 0:31.4 | Reserve Board, there's a lot of hand ringing in Washington right now that they can't create as much inflation as they've been working to create. |
| 0:39.0 | But inflation calls for a defensive plan. |
| 0:44.0 | And today we're going to talk about how do you protect your wealth |
| 0:47.2 | from the effects of inflation in retirement. |
| 0:51.1 | And even more importantly, if you are an early retiree how do you protect |
| 0:55.4 | your wealth from the effects of inflation over a very long period of time. Welcome to the Radical Personal Finance Podcast. My name is Joshua Sheets and I'm your host. Thank you for being with me today. Today we talk inflation with a man named a rebel spy or Arabelspy. Well, that's actually not his name. His name is Joe and he's an awesome guy and even if you |
| 1:36.0 | don't care about inflation make sure you stay listening to this interview to hear how a couple |
| 1:42.4 | of teachers gained financial independence on a teacher's |
| 1:45.8 | salary by the age of 30. |
| 1:48.8 | Perhaps for some of you that might be even more interesting than the inflation |
| 1:55.8 | conversation. I was able to coax a little bit of information out of Joe about |
| 1:59.6 | his story. He didn't want to talk about it too much but I coaxed just a little bit out of him about how he and his wife, starting with nothing, both of them working as government school teachers, have been able to save their way to financial independence by the time that they were 30 years old and you're going to hear |
| 2:13.9 | a little bit of that story. |
| 2:15.4 | Joe has been on the show a couple of times previously. |
... |
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