MI336: The Playbook to Retiring Early w/ Steve Adcock

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 18 March 2024

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week’s episode, Patrick Donley (@JPatrickDonley) sits down with Steve Adcock to learn about how he quit his job at 35 after achieving financial independence to pursue a life of adventure. You’ll also learn about the primary habits of millionaires, what kind of investment strategy he recommends, how he handled a $200,000 drop in his portfolio during the pandemic, what his lifestyle is like now in “retirement”, and much more! Steve Adcock runs Millionaire Habits, a resource dedicated to making you smarter about money. Every week, he publishes content designed to help you take full control over your life and achieve everything you’ve ever dreamed of. Steve travelled 3 years in an Airstream and now lives off the grid in the Arizona desert. He’s been featured in publications like CNBC, Forbes, Business Insider, and MarketWatch. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 02:32 - What were some of the early money mistakes Steve made. 06:04 - What the impetus was for writing Millionaire Habits. 08:09 - What is the Trinity Study and why it’s important to understand the 4% rule. 11:50 - What kind of investment strategy Steve recommends. 14:19 - How the traditional indicators of success can become a trap. 17:31 - Why Steve and his wife decided to sell everything to live in an Airstream full-time. 23:19 - What it was like moving off-the-grid. 26:03 - How much Steve had saved before leaving his W-2 job. 35:19 - What the advantages to marrying later in life are and why picking the right partner is so important. 41:33 - How Steve handled a $200,000 drop in his portfolio during the pandemic. 45:10 - How Steve and his wife handle health insurance. 52:19 - What books influenced Steve in his own quest for financial independence. 55:58 - What Steve’s thoughts are on buying vs. renting. 58:03 - Why early retirement can be associated with an early death. *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. Check out: The Millionaire Next Door by Dr. Thomas Stanley. Check out: The Psychology of Money by Morgan Housel. Visit: Millionaires Habits by Steve Adcock. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Patrick: Twitter Connect with Steve: Website | Twitter 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

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0:00.0	You're listening to TIP. Whenever I talk about the concept of fire, financial independence
0:05.0	retire early, I want to make the point where these are two completely separate concepts.
0:09.1	The financial independence part should be everybody's goal. Every single person, everybody who's
0:13.8	listening to this podcast without fail, I mean every person, financial independence should
0:19.6	be your goal, period. No exceptions, absolutely none.
0:23.8	The early retirement part definitely won't be for everybody. So if you love your job, continue working
0:29.6	for the rest of your life. Who cares? If you enjoy what you're doing, that's all that matters.
0:33.6	But the financial independence part gives you options.
0:39.2	Hey guys, in today's episode, I had the pleasure of sitting down and talking with Steve
0:43.7	Adcock to learn about how he quit his job at 35 after achieving financial independence
0:48.8	to go and pursue a life of adventure. You also learn about the primary habits of millionaires, what kind of investment
0:55.5	strategy he recommends, how he handled a $200,000 drop in his portfolio during the pandemic,
1:02.2	what his lifestyle is like now in retirement, and a whole lot more. Steve runs millionaire habits,
1:07.4	which is a resource dedicated to making you smarter about money. Every week, he publishes
1:12.2	content designed to help you take full control over your life and achieve everything you've dreamt of.
1:17.5	Steve and his wife traveled in an airstream and now live off the grid in the Arizona desert.
1:22.3	He's been featured in publications like CNBC, Forbes, Business Insider, and Marketwatch. Without further delay,
1:29.0	let's dive into today's episode with Steve Adcock.
1:36.8	Celebrating 10 years, you are listening to Millennial Investing by the Investors Podcast Network.
1:43.0	Since 2014, we interviewed successful entrepreneurs,
1:46.9	business leaders, and investors to help educate and inspire the millennial generation.
1:52.6	Now for your host, Patrick Donnelly.
	...

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