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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI133: Retiring at 35 w/ Steve Adcock

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Investing, Education, Business

4.6592 Ratings

🗓️ 13 January 2022

⏱️ 51 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN:   02:28 - How Steve retired at 35 after living a somewhat luxurious lifestyle in his 20’s. 07:46 - How much Steve and his wife had saved prior to making the leap to early retirement. 35:04 - The pros and the cons of early retirement. 39:18 - What Steve’s thoughts are on the follow your passion versus earn more money debate. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Robert and Clay’s tool for picking stock winners and managing our portfolios: TIP Finance. Morgan Housel’s book The Psychology of Money. Robert Kiyosaki’s book Rich Dad Poor Dad. Thomas Stanley and William Danko’s book The Millionaire Next Door. JL Collin’s book The Simple Path to Wealth. Related Episode: MI041: The Simple Path To Wealth w/ JL Collins. Related Episode: MI120: Bitcoin and Financial Independence w/ Jim Crider. Get a FREE audiobook from Audible. Check out our Investing Starter Packs about business and finance. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Read this episode’s transcript and full show notes on our website. Connect with Steve: Twitter | Instagram  Connect with Clay: Twitter  HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!  Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP. We were down over $200,000, our net worth just down $200,000 in almost a month.

0:11.0

And at that point, people were reaching out to me, people I didn't even know, but also like friends and family, asking me if I'm going to get out of the market.

0:20.0

I think one or two people on Twitter

0:21.8

DM'd me and why they care.

0:24.1

I have no idea.

0:24.5

But they begged me to get out of the market

0:26.5

because everything's going to crash.

0:28.0

Everything's going down.

0:29.3

Boy, I'm glad I didn't do that.

0:31.7

Because when you try to time the market,

0:33.7

you might be able to time it here and there,

0:35.7

but you're not going to be able to consistently

0:38.0

time the market.

0:42.5

On today's episode, I'm joined by Steve Adcock.

0:46.2

Steve retired at age 35 and currently lives off the grid in the desert.

0:51.2

Prior to retiring early and achieving financial independence, he worked 14 years

0:55.8

in the information technology field. He's very knowledgeable when it comes to financial independence

1:00.7

and early retirement. During the episode, I chat with Steve about how he retired at 35 after

1:07.1

living a somewhat luxurious lifestyle in his 20s, the pros and cons of early retirement,

1:12.8

the creative ways Steve and his wife limit their expenses by living off the grid,

1:17.9

what Steve's thoughts are on the follow your passion versus earn more money debate, and much,

1:22.7

much more. Without further delay, let's dive right in to today's episode with Steve Adcock.

...

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