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Radical Personal Finance

645-The Power of Choosing Not to Retire

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.41.9K Ratings

🗓️ 29 May 2019

⏱️ 92 minutes

🧾️ Download transcript

Summary

In today's show, I'm going to teach you how an average guy can build a $165,000,000 estate by choosing not to retire. And I'll tell you a bunch of reasons why that would be great for you to plan for (even though you're simultaneously working towards financial independence in 10 years or less).

Enjoy!

Joshua

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, skills, insight and encouragement you need, to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

0:12.0

My name is Joshua, and today I'm going to talk with you about the power

0:16.7

of choosing not to retire. This has become something of, I guess a theme here on radical personal finance. I never really set out to make it a theme

0:27.4

But it is something that I have thought for a long time

0:30.5

Way back in the early years of the show I did a series of shows on the myth, the scam that is retirement, and how basically retirement is a very modern concept and it's been in essence foisted upon people really without much historical precedent.

0:46.0

Now that's not necessarily all the bad thing and I'm not I don't want to be known as

0:50.7

the anti-retirement guy, but I do think that we often raise the value of retirement so high, especially in the Western context, that we miss out on some of the downsides of retiring.

1:06.0

Now I've talked about the downsides before but today I want to simply talk about

1:09.6

the upsides of choosing not to retire.

1:13.0

Another reason why I have a little bit of tension with this subject is that I would say that

1:16.9

of the modern kind of financial nomenclature there's a big movement and a massive growth

1:22.4

of what's called the fire movement.

1:24.1

Fire being an acronym that refers to financial independence, retire early or

1:28.6

early retirement. And I love this movement. I think it's really cool. I've been around it and sort of a part of it for a decade long before I started radical personal finance. I was super interested in.

1:42.0

I find much of the fire

1:43.5

community and much of the fire content extremely compelling. However I've always

1:49.2

had this great discomfort with the fire movement. In fact I actually wrote and recorded a show one

1:56.8

time called why I'm not part of the fire movement. I chose not to release it

2:00.4

because it it was too negative and I felt like I was too preachy and I just decided to can the show.

2:06.3

But I don't really think of myself as part of the fire movement.

2:09.6

Now if it's just about financial independence, I'm all on on board but the early retirement thing

2:13.8

is where I just I don't think it's a great move and so I don't stress on this

...

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