Laid Off at 51: Are We Ready to Retire? | Making a Millionaire

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 23 June 2025

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week’s Making a Millionaire features Chris & Heather - a couple in their early 50s who thought they had more time to plan for retirement until a sudden layoff changed everything. With a $2.5M net worth, they wrestle with real fears, financial questions, and the exciting possibility of building a purpose-driven next chapter. Can you retire early? What if you had to? We run the numbers - and face the emotions behind them. ⁠⁠⁠⁠Jump start your journey with our FREE financial resources⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Reach your goals faster with our products⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Take the relationship to the next level: become a client⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Subscribe on YouTube for early access and go beyond the podcast⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Connect with us on social media for more content⁠⁠⁠⁠⁠⁠⁠ Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. http://nordvpn.com/MONEYGUY Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	On June 25th, Ironheart arrives on Disney Plus.
0:02.9	What is going all with you?
0:04.8	From Marvel Television, an executive producer, Ryan Coogler.
0:07.8	I wanted to build something undeniable, but now I'm in trouble.
0:10.7	Don't miss the sixth episode of Vand.
0:12.7	I joined a crew of criminals, and now I'm about to get killed by a Drenched Man in a Cake.
0:17.4	Be the first to experience the all-new series.
0:20.5	You've bitten off a hell of a lot more than you can chew.
0:22.7	Brank what you a lot.
0:23.5	Marvel Television's Ironhard.
0:25.4	Streaming June 20th, only on Disney Plus.
0:27.7	18 plus subscription required.
0:29.1	Deacancies apply.
0:30.2	Welcome to Making a Millionaire.
0:31.8	Today we're talking to Chris and Heather.
0:33.9	They're both 51 years old and live in Tennessee. They make about $225,000 between their
0:39.9	salaries and rental income, and they have a net worth of almost $2.5 million. A recent
0:47.3	layoff has left them wondering, have they hit financial independence? Let's dive in.
0:52.9	Give me a gut check. You get the shock and awe news about the job.
0:56.6	Are you scared? Are you comfortable? How do you feel? Oh, you're all looking at me. Oh, I get freaked out.
1:01.0	I don't like it. I don't want to touch a retirement yet. I don't want to go anywhere near it. I want it to sit there as long as
1:06.5	possible because I don't know what the future brings, and I just want him to work.
	...

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