Is Chasing Early Retirement Naive? (plus an intro to the SB Money Club!)

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Personal Finance, Financial Planning, Education, Retirement, Investing, Cfp, Business, Money

4.4 • 2K Ratings

🗓️ 24 July 2020

⏱️ 93 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

FIRE, FIRE, FIRE! While we'll never disparage the basic goals of the #FIRE movement: becoming financially secure and having the option to retire early, we still have to ask the question, "Is fully subscribing to FIRE lifestyle naive?" Are we putting too much emphasis on the "Retire Early," and too little on "Financial Independence"? We ask our contributors: is it time to put the fire out? Our awesome roundtable team today includes: Don McDonald from the Talking Real Money podcast, Paula Pant from the Afford Anything podcast, and our very own OG. Plus, are you wondering how to teach your kids about money? Do you know someone (maybe YOU) that needs foundational knowledge about how finances work? After our FIRE discussion we'll take a break from the roundtable to introduce the new Stacking Benjamins Money Club! Aaron Velky from Ortus Academy is our head instructor at the Money Club, and he joins us to share how it all works. When we swing things back around to our roundtable, we'll break out the results of our question to the parents in our audience: how are you with finances and your children? Do you open the whole book to your kids? Do you give them basic financial advice? We'll see what the parents had to say PLUS hear a thing or two from our roundtable with their personal strategies. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You know in today's world seems like the best treatments reserved only for a few. Well,
0:04.4	Discover wants to change that by making everyone feel special. That's why with your Discover card
0:09.7	you have access to 24-7 live customer service as well as $0 fraud liability, which means you're never
0:16.5	held responsible for unauthorized purchases. Finally, no matter who you are or where you
0:21.6	are in life,
0:22.6	you'll feel special with Discover.
0:24.5	Learn more at Discover.com slash credit card.
0:27.3	Limitations apply.
0:31.7	My plan is sound, mathematically sound, it cannot fail, it's perfect. Three months from now, I will be worth $50,000, independent for life.
0:43.0	Live from Joe's Mom's Basement, it's The's neighbor Duggan. Did someone say fire? They say never yell fire in a crowded
1:12.0	podcast audience, but today we're shouting it from the roof
1:16.0	but check that the the basement top whatever we're talking fire the financially
1:22.0	independent retire early movement that is.
1:25.0	Is it naive to try and retire early?
1:28.1	One blogger says, yeah.
1:30.0	Today we'll weigh in ourselves with the man who's talking real money on his
1:35.2	talking real money podcast Don McDonald.
1:38.6	Next from an undisclosed location somewhere in the USA, it's Paula Pants.
1:44.7	And finally, he's a regular around these parts, the one, the only, the OG.
1:51.8	Plus, not sure what you're going to teach your kids this last month of summer?
1:56.6	How about y'all join the new Stacking Benjamin's Money Club?
2:01.3	Here to help us launch our new Members only club. Oh I hope they have
	...

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