3217: Key to Early Retirement - Margin of Safety by ESI of ESI Money on Financial Independence & FIRE

Optimal Living Daily - Personal Development and Self-Improvement

Optimal Living Daily LLC

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4.6 • 3.2K Ratings

🗓️ 16 June 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3217: Discover how ESI from ESIMoney.com strategizes the concept of 'Margin of Safety' for a robust early retirement plan. This episode explores the necessity of financial buffers to manage unexpected expenses and ensure a stable, stress-free retirement. Learn to secure your financial future by understanding the risks and implementing multiple safeguards. Read along with the original article(s) here: https://esimoney.com/key-early-retirement-margin-safety/ Quotes to ponder: "Expect the unexpected when it comes to money emergencies." "In early retirement, it's crucial to have several significant margins of safety." "Our current annual budget is $85k. As you might imagine, that affords us a pretty high standard of living." Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi all how we doing afternoon afternoon let's get this meeting meeting meeting
0:06.0	started
0:07.0	when everyone's home erepte work mode
0:12.0	when everyone's home ee work mode prioritizes your broadband for working from home, with faster speeds in more places than anyone else.
0:18.0	So, yeah, yeah, I've got you loud and clear, clear is about.
0:21.0	This is broadband made for working from home search
0:24.2	e e. broadband powered by BT work mode with ee smartup plus to verify see ee dot
0:29.1	credit ek slash claims this is optimal leaving daily episode 3217.
0:34.0	Key to Early Retirement.
0:36.0	Margin of Safety.
0:38.0	But E.S.I. of E.S.I. money.
0:40.0	And I'm just a mollick.
0:42.0	I read to you every single day of the year kind of like an
0:45.3	audio book and then on Sundays I share an extra episode from a different
0:49.5	podcast in our optimal network and today's comes from optimal finance daily. Please do
0:55.2	subscribe to or follow optimal finance daily wherever you're listening to this to
0:59.6	keep all of this going. It really helps a lot. But for now, let's get right to the bonus episode and Diana's commentary as we optimize real life.
1:08.0	Key to Early Retirement, Margin of Safety by ESI of ESI Money.
1:19.8	One of the things I worry about for extreme early financial independence retirees is that they plan the numbers too close.
1:28.0	In other words, I think some would be in trouble if something unexpected and costly pops up.
1:34.3	And as we know, we should expect the unexpected when it comes to money emergencies.
1:39.9	For example, let's say a 30-year-old has a million dollars saved.
	...

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