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Retirement Answer Man

The Benefits of FIRE

Retirement Answer Man

Roger Whitney, CFP®, CIMA®, RMA, CPWA®

Lifeplanning, Retirementplanning, Financialplanning, Saving, Careerplanning, Self-improvement, Education, Retirementpodcast, Investing, Business, Investmentmanagement, Retirement

4.71.1K Ratings

🗓️ 14 February 2024

⏱️ 52 minutes

🧾️ Download transcript

Summary

Now that we know what FIRE is, let’s learn the benefits. In this episode of Retirement Answer Man, Kevin Sebesta joins me to discuss the benefits of FIRE.

Afterward, Mark Ross comes aboard to noodle on why creativity is important in retirement. And finally, Taylor Schulte from the Stay Wealthy podcast helps me answer some listener questions. Don’t miss out on this informative episode!

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

  • [1:41] Life as a journey
  • [3:00] Benefits of retiring early

BRING IT ON WITH MARK ROSS

  • [19:09] Why is creativity important?

LISTENER QUESTIONS WITH TAYLOR SCHULTE

  • [25:52] About the Retirement Podcast Network
  • [28:43] How to choose between investing in a Roth 401K and a traditional investment account
  • [33:55] Timing a reallocation of assets
  • [39:45] A good, detailed, free retirement calculator
  • [44:55] Why Rosie didn’t hire another financial planner

TODAY’S SMART SPRINT SEGMENT

  • [50:28] Define whether your decisions are hats, haircuts, or tattoos

Resources Mentioned In This Episode

New Retirement Calculator

The Retirement Podcast Network

Stay Wealthy Podcast

Define Financial

BOOK - Coaching Beyond Words by Anna Sheather

BOOK - How to Think Like Leonardo DaVinci by Michael Gelb

BOOK - Atomic Habits by James Clear

PODCAST - Choose FI

PODCAST - Catching Up to FI

BOOK - The 100-Year Life by Andrew Scott and Lynda Gratton

BOOK - The Second Mountain by David Brooks

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Transcript

Click on a timestamp to play from that location

0:00.0

The show is a proud member of the Retirement Podcast Network.

0:03.7

Welcome to the Retirement Answerman Show.

0:06.6

If you're new to the show, my name is Roger Whitney, and I am a practicing retirement planner

0:15.6

for over 25 years, founder of the Rock Retirement Club, and each week we noodle on how to empower you to not just simply survive retirement but have the

0:26.5

confidence to lean in and rock retirement.

0:29.7

We got a lot going on today.

0:31.2

We're going to have Kevin Sebastian join us for our second in four segments on fire,

0:38.0

financial independent retirement early movement and what you and I can learn and perhaps integrate into our retirement

0:45.5

planning. Today we're going to talk about some of the opportunities that the

0:49.0

fire movement presents that we might be able to integrate in our life.

0:53.6

In addition to that, in our rock life segment,

0:56.4

we're gonna have Kevin Liles, coach in the rock retirement club,

1:00.4

come on and talk about unretirement and legacy and if that wasn't enough.

1:05.5

Then we're going to have Taylor Schulte from Define Financial come on to answer some of

1:10.0

your questions.

1:12.2

So much going on so let's just get started.

1:14.0

So in today's segment on five financial independence retire early we're going to talk about the benefits of

1:25.4

Fire with Kevin Sebastian. Kevin, one thing I was thinking about last week when we were talking

1:30.8

or since we were talking is the idea of thinking as life as a journey,

1:37.2

like a hike, a hike that meanders different directions rather than a mountain climb that you need to struggle to summit,

1:47.8

which is that could be traditional retirement, sacrifice your life for the payoff at the end, versus enjoying life and having more

1:56.6

balanced throughout life. That's sort of how I've been framing this fire movement

...

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