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The Stacking Benjamins Show

The Downside of an Early Retirement (plus lessons from Roush Fenway Racing) DETAILS

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Personal Finance, Financial Planning, Education, Retirement, Investing, Cfp, Business, Money

4.42K Ratings

🗓️ 28 June 2019

⏱️ 77 minutes

🧾️ Download transcript

Summary

Less stress, easy overhead, and being debt-free... those are three fantastic reasons to chase financial independence. For a growing number of investors the top reason to save and live frugally has become a chance at early retirement. But, what type of freedom does early retirement bring? Is the freedom gained from early retirement worth it? We'll ask our contributors their thoughts on early retirement, and explore the concept of not retiring FROM something, but TO something on today's show. Assisting us in today's discussion is Rocky Lalvani from the Richer Soul podcast, Len Penzo from LenPenzo.com, and OG, from our very own Stacking Benjamins podcast.

Halfway through the show, we'll hit the pause button on our discussion while Joe talks to Kevin Kidd, Roush Fenway competition director. You might be thinking, "WAIT, that's not FinTech! what does that have to do with finances?" As it turns out, there are a few financial lessons to be had from a professional racing team.

Plus, after we finish a few laps around the track, we'll answer a voicemail from Rosie during our Magnify Money segment. Rosie's parents are retired, and she's recently learned her parents have been charged some crazy fees from their financial advisor. She wants to move them over to some low-cost index funds, but doesn't want to lose all their money in the process. What should their asset allocation look like?

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Transcript

Click on a timestamp to play from that location

0:00.0

I'm Jen from the Frugal Friends podcast.

0:02.7

And when I'm not cutting the end of the toothpaste tube off to get that last little bit of toothpaste, I'm stacking Benjamins.

0:14.2

Live from Joe's mom's basement, it's the stacking Benjamin's show.

0:35.3

I'm Joe's mom's neighbor, Doug, and according to this crazy holiday calendar, it's drive your Corvette to work day.

0:39.5

Or how about drive your hot car to work day? Because like I've got the El Camino and Joe's got that incredible Ford Windstar minivan.

0:46.4

But here in the basement, we're having, have an incredible podcast day.

0:51.9

Here to help, we welcome from the Richer Soul podcast, Rocky Lalvani.

0:57.5

And from this podcast, OG.

1:00.8

Plus, from Len Penzo.com, it's the USA Women's Soccer Team.

1:05.6

Oh, my God.

1:06.6

Nah, I'm just kidding.

1:07.7

They're a little busy right now.

1:08.9

It's just Len Penzo.

1:11.1

Today, the team is talking about financial freedom.

1:15.5

Is the freedom that being retired brings worth it?

1:19.4

Plus, we're going to dive into racing in the middle of today's show as Joe interviews

1:24.3

Roush Racing Competition Director, Kevin Kidd.

1:28.1

What's that got to do with your planning?

1:30.9

Turns out a lot.

1:33.1

Plus, we'll magnify someone's money and still leave time for my incredible trivia.

1:40.1

And now, the guy who's racing us into Turn 1 of this weekend, it's Joe Sal Chi.

1:52.7

And we're going to take a lot of left turns today because apparently it's Guy's Night in the basement.

...

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