289: What's Your Retirement Number? Plus 4 Ways to Spend It Down

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Investing, Business

4.8 • 518 Ratings

🗓️ 1 February 2024

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sam, Johnny & Derek all got together for this episode - the first will all of us in almost 3 years! Our ILAB Patreons were able to receive this episode one week early plus got video and bonus content - become a Patreon HERE & instantly access that! The topic of retirement, FIRE, 4% rule and the like have come up a lot lately. So we break down 4 different retirement theories for drawing down your funds and each shares what their ideal retirement number is if we had to completely quit working. Discussed:

Where we are:

Johnny FD – Jomtien, Thailand / IG @johnnyfdj
Sam Marks - Bangkok, Thailand / IG @sammarks12
Derek – Los Angeles, US / IG @DerekRadio

Sponsor:

ILAB Patreon
Join the Invest Like a Boss Patreon now and get tons of bonus content, including additional episodes, full quarterly updates including account screenshots and more for as low as $5/month at Patreon.com/InvestLikeaBoss

Time Stamp:

00:20 - Sam/Johnny/Derek Intro
03:15 - Dave Ramsey 4% Rant
12:41 - $500K-$20M Retirement Income Breakdowns
32:00 - Jared Dillian's Rant on Consumption Being Good
50:09 - Why Millions May Not Go As Far As You Think

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Transcript

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0:00.0	Welcome to the Invest Like a Boss podcast. I'm Sam Marks. I'm Derek Sparts. And I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash.
0:20.2	What is up, bosses? and our patrons, because this is a bonus episode for you on video,
0:27.4	all three of us, when does this happen, guys?
0:29.9	I got Sam and Johnny on the other end, and Patrions are getting to see this early.
0:34.6	You freebie cheap skates who don't want to give us $5 a month,
0:37.8	you're going to have to wait for this one. But when you do actually hear this, you should head over to invest like a boss.com. Click become a Patreon so you can see our smiling faces early. What's up, guys? We even got dressed up for this one. Yeah. I remember I think we were in a studio with me and Sam in L.A.
0:54.0	And this kind of reminds me of that,
0:55.1	even though Derek's only one
0:55.9	in action in a studio.
0:57.3	I remember, I think we were in a studio with me and Sam in L.A. And this kind of reminds me of that,
0:55.1	even though Derek's only one who actually in a studio. I remember that episode. That was actually right before I came here. And I was like, that was when you guys were down in like Manhattan Beach, which inside of L.A. whatever is close to me. And I was trying to get there. And for some reason, I couldn't meet you guys. And then weirdly I was working for you a few months later.
1:14.2	Derek's wearing a shirt that looks like he's in Thailand and johnny's actually in Thailand he's got a shirt on looks like he's in an office in california yeah that's actually
1:18.6	a good point yeah it looks like you got the fluorescent lighting above you too there johnny or something
1:24.4	yeah yeah i do i have have like overshilling lights.
1:29.8	Do I, do my handsome, by the way, I could turn out some more lights if I need.
1:30.3	I don't know that.
1:31.2	That's really going to help.
1:32.8	Is that your place, Johnny?
1:40.1	Or is that a cafe? No, no, it's my place. It's a rental. Wow. Looks like an upgraded. That's no slouch condo in Jamtian.
1:42.5	We're going to be talking about this in the episode,
1:44.5	but I'm slowly upgrading my life.
1:45.1	Whoa.
	...

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