Why $1.5M Is Enough To Retire If You Want To Spend Like This
Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)
Ari Taublieb, CFP®, MBA
4.7 • 583 Ratings
🗓️ 9 June 2025
⏱️ 15 minutes
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Summary
Transcript
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| 0:00.0 | You may think you need $2 million to retire. |
| 0:02.4 | You might think you need $3 million. |
| 0:03.9 | You might actually not know how much you need to retire. |
| 0:06.3 | But the reality is none of that actually applies to you. |
| 0:09.7 | Now, I know that's not super helpful. |
| 0:11.6 | So what I'm going to do on this episode is tell you that if you have about $1.5 million |
| 0:16.1 | or if you're on track for $1.5 million, what that could mean for you if you were to stop working |
| 0:22.1 | tomorrow? Now, most of the time, when I speak to someone and they're interested in retiring early, |
| 0:28.3 | it's not necessarily, hey, I'm trying to do that tomorrow, but it's mainly I would love to know if |
| 0:33.7 | I'm working because I want to or because I have to. Because if I really had enough money, I probably wouldn't keep working at the rate that I'm working |
| 0:40.7 | because it's really impacting my health, time with family or friends or relationships. |
| 0:45.3 | So I just want to know when is it possible. |
| 0:47.7 | Now, the idea that you need a million or five million or ten million, none of that applies to you. You need to make sure you have enough money |
| 0:56.2 | to live the life you want to live. Why is that important? I had a client who, and I often will share |
| 1:02.7 | stories when I record these different podcasts or YouTube videos because I find this is the most |
| 1:08.3 | fun way to learn. I watch YouTube videos myself, and this is how I like |
| 1:13.3 | to engage content. So I make YouTube videos, and I watch a lot of YouTube videos. So I hope this |
| 1:17.9 | resonates with you. But this person reached out and said, hey, I really don't think I can retire early. |
| 1:22.3 | I only have about $1.2 million. My neighbor actually has, I know more than that, because we're very transparent with finances, and I asked them to tell me how much. And they said, it's just more than that. That's all you need to know. And I said, why are you hesitant to retire? And they said, well, because they have more than me, and they don't seem like they're anywhere close to retiring. And I said, that is complete head trash. You don't know if they want to spend |
| 1:44.6 | 50,000 a month. You don't know if there's three kids that they're supporting. You don't know if |
| 1:49.6 | there's a second home they want to buy. They might have completely different goals. And the fact that |
| 1:54.2 | you're considering not retiring, even though you're actually in a pretty good spot to make it happen |
... |
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