How Much Is "Enough" To Retire Early?
Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)
Ari Taublieb, CFP®, MBA
4.7 • 585 Ratings
🗓️ 6 November 2023
⏱️ 24 minutes
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Transcript
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| 0:00.0 | A lot of you have probably asked yourself the following question, do I have enough money to retire? |
| 0:04.9 | Now, you probably haven't asked yourself out loud. That would be a little bit odd. But a lot of you have taken one step further. Do I have enough money to retire early? And I want to get really to the base of this enough. How much is enough? And that's what I'm so excited to go through today. because a lot of you are going, hey, I've saved and invested well, but I don't know what is enough. that's what I'm so excited to go through today because a lot of you are going hey I've saved and invested well but I don't know what is enough and how do I think through that and it's very common for a lot of you that reach out to me you move the goalposts back once I have two million bucks I'm going to retire no just one more bonus now just wait one more year three more years go, and now you don't have your same level of energy |
| 0:38.0 | and your health. And now you're going, hey, why didn't I retire early? And I can tell you, for most of you, it's because you're going, I'm going to need this money for 40 plus years. I want to make sure I don't run out. And that's like base case. That's like level one. Yeah, I do not want my clients to run out of money. That's obvious. I also want to make sure you don't leave anything on the |
| 0:55.8 | table. And most of you are, and it's not a level one. Yeah, I do not want my clients to run out of money. That's obvious. I also want to make |
| 0:54.6 | sure you don't leave anything on the table. And most of you are, and it's not a bad thing, but I want to make sure that by the end of this episode in 15 minutes, you have clarity. And I'm not in any business of rosy pictures. You guys know this. But if you're like, hey, I have a general sense of what I want to spend and when I might retire. It's not bad, but I want to make sure you're like, |
| 1:13.1 | oh my gosh, when I do hey, I have a general sense of what I want to spend and when I might retire, |
| 1:29.1 | it's not bad, but I want to make sure you're like, oh my gosh, when I do retire, I'm in an awesome spot. Not I'm going to retire and hope if markets do well, I'm going to be okay. I don't like hope is my strategy. So I'm going to hop in today and show you guys this framework of what is enough and how to think through it. So I'm very excited. Every episode is exciting to me, of course. |
| 1:27.7 | But I got a few quick things before we hop in. The first is I got a funny email last week from someone, one of you, and you asked to be anonymous, and I'm going to keep it that way. And you said, Ari, why don't you have introductory music for the show? It doesn't seem as professional. And I'm glad that they asked this because if you're a longtime listener, |
| 1:47.6 | you'll know actually... Ari, why don't you have introductory music for the show? It doesn't seem as professional. |
| 2:01.9 | And I'm glad that they asked this because if you're a long-time listener, you'll know I actually used to have an intro music and all these fancy things. And the reason I got rid of it is because, quite simply, I listen to a lot of podcasts, and I just skip that stuff, to be honest. So I want to hop right into the show. i'm tuning in for a specific reason like most of you give me this information and then along the way i'm putting in stories |
| 2:07.8 | because i think it's going to resonate so i promise it's not tangents for tangents sake there's a reason |
| 2:13.0 | i'm doing so so that's why i got rid of the music. So hopefully that answers your question. And then I |
| 2:18.6 | always make sure that I'm going over a review of the week or I'm at least going over one of those |
| 2:24.0 | main reasons when I ask you to download my ebook, it'll say, what's something you're so excited to |
| 2:29.1 | never worry about again once you retire? And I've got some very funny responses and I've got some odd responses, |
| 2:36.0 | but one of the main ones I want to go over today is people keep putting boss as the main word. |
| 2:42.0 | So what are you so excited to never have to worry about ever again once you retire? |
| 2:46.0 | My boss or deadlines. And these just are themes that keep coming up and up and up. And normally there's a lot lot of variation and last week it wasn't there was about 60 or 70 of you who are saying it's my boss it's having to worry about deadlines and it's not having my own time and my schedule so I want you to have that back and that is why I love this stuff so someone asked me in person last week why do you love this stuff stuff? And I'm like, well, I don't really |
| 3:07.9 | love tax strategy and investments. It kind of sounds like you do. So I don't really know what you're |
| 3:12.7 | saying right now. I go, no, I love that stuff because you can go live an awesome life. If you can |
| 3:16.8 | use tax strategy or you're investing a certain way, so you can retire six months earlier or a year |
| 3:22.4 | earlier, that's the reason I love this stuff. |
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