Is Retiring Early Really Worth It?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 26 June 2024
⏱️ 37 minutes
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Summary
Transcript
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| 0:00.0 | Here's a question. Is retiring early worth it? But I am so excited because I love that people ask us these kinds of questions. |
| 0:15.9 | These aren't like necessarily the deep analytical questions. |
| 0:19.0 | They're kind of the bigger picture, bigger idea questions and boy, do we have some thoughts? A matter of fact, we have some thoughts a matter of fact we have |
| 0:23.2 | thoughts on a lot of stuff so much so that we love that we can answer and add our |
| 0:27.3 | thoughts the things that you guys care about so right now we have the team out in |
| 0:31.2 | the wings collecting your questions and we would love |
| 0:33.4 | to load you up so with that creative director Ribi I'm gonna throw it over to you |
| 0:39.0 | you have thoughts we've got lots of good questions coming into the hopper so |
| 0:42.4 | keep them coming put him in the |
| 0:43.6 | chat but we're gonna kick it off with Tim's question about early retirement he says |
| 0:47.9 | I'm 42 and want to retire early at 45 I've stress tested my plan and everything looks okay. But I'm having a hard time |
| 0:56.3 | mentally stepping away from the job. I know I want to spend more time with my kids |
| 1:00.9 | before they leave the house. They're my why. So why is it so |
| 1:04.5 | hard for me to make the switch? So okay a lot of things going on there. |
| 1:11.2 | 42 looks like he wants to retire early at 45. |
| 1:15.4 | You know, first I want to commend him. |
| 1:16.7 | He said he's done some stress testing. |
| 1:18.0 | So at least tested his plan to make sure. |
| 1:20.7 | Now, one of the things I'd really want to know |
| 1:22.4 | is I would imagine that even at |
| 1:25.2 | 45 years old. I don't know how old his kids are, but there's still a lot of variables that have not |
| 1:28.8 | been solved for yet. There's still probably a lot of outstanding questions. |
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