There are so many rules out there you don't know what to follow. Some people say that you should

say 15% of your income. Some people say you need two million to retire. And I don't believe in any of that.

I don't believe in cookie cutter planning. I believe it just depends how much you want to spend in

retirement and do you have the assets to support that level of income. The truth is, you might be an

awesome spot and your neighbor might not be. But it doesn't mean that you're not going to run the chance of running out of money because maybe you want to spend a lot the first 10, 15 years and then a whole lot less in the future, but then all of a sudden a health care event comes up. And it might be the opposite, where all of a sudden you've got a brother or a sister or a coworker that's like, oh my gosh, I'm in such a good position and then all of a sudden you've got a brother or sister or a coworker that's like,

oh my gosh, I'm in such a good position. And then all of a sudden they go, well, it turns out I kind of under-projected where I wanted to spend. And that remodel, well, that was way deeper than I thought I was going to cost my pocket. So to me, it's got to be a customized plan. And I'm going to walk you through the rules of thumb that you should think about and the rules of thumb you should not

think about in today's episode. There's a lot of

fluff out there and it is my job as I see it to give you what is the most important information

that is actually applicable to you. So if you don't know already, my name is Ari Talbib. I'm the

certified financial planner. I'm the host of the early

retirement podcast, and I'm the vice president here at Root. So we are, of course, on the podcast app.

If you're listening right now, continue to listen there. If you enjoy doing it that way,

if you want to watch on YouTube, you can, of course, do that now. And you're going to see me

walk through the review of the week.

So this comes from Katie Libby 1315, who says, took the new retirement route at 59.

I have a $10,000 side gig that feels more like volunteer work.

Now at 65, we have not touched our retirement funds.

Spouse plans to take new retirement route in two years at 62. Next stage will be transitioning from saving to spending.

So awesome comment. I love hearing that. You're bringing in some income and it feels like you're

volunteering. The reason I want to highlight this comment, it is not easy. It's not a light switch that you can simply go, yep, I'm just going to turn the lights off or turn the lights on and I'm going to be a great spender. Now, if you are a great spender and a very great spender, if you know what I mean, you wouldn't probably be listening to this right now, or you're listening going, I need a lot of help because most people I speak to are not amazing spenders. They're amazing savers. And that's why they are where they are today. I want to make sure you do not remain a good saver. You're like, what do you mean? Well, if you remain a good saver, you might have plenty of money, but you might look back going, why didn't I spend more when I had my energy and my health when the money was literally worth more? And I don't want you to run the risk of running out. That's why I say I'm the meanest financial advisor around because I don't want you to run the risk of running out too early going, why didn't I work another six months or another year or so I could actually have spent what I wanted to the rest of my life. At the same time,

I don't want you to underspend and go, oh my gosh, I have plenty of money. What was I thinking here? So love this comment from Katie Libby. The way I like to explain to clients, it's more like dimming a light. And some of you are like, yeah, I've got the new dim light system in my home. Some If you're like, no, I still got the old-fashioned light switch.

Well, if you have that dimming feature that's what i want it to be more like where not even i want it to be more like that's what it is like where you're in retirement and you're like oh so i'm starting to spend a little bit more and little more and i'm comfortable and oh i'm spending and i'm still in a a good spot. Okay, great. Let me spend a little more. It's not some magic switch. So love this comment from Katie Libby 1315. Thank you for this as always. Let's hop back into the content that I want to go through today on the episode. If you, of course, want to submit your own question or you want to leave a review of the

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