The 3 Best Tips From My Clients Who Retired Early
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- Опубліковано 3 лип 2024
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In this video, I share valuable insights from my clients who have successfully retired early. Learn the three essential tips that helped them create a fulfilling and joyful early retirement.
We will discuss the importance of understanding your desired retirement expenses, focusing on what truly matters, and planning for a sequence of return risks.
If you’re planning for an early retirement, these practical tips can help you optimize your strategy.
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Time Stamp
00:00 Intro
01:00 Janis Ray Comment
01:58 Introduction to Parents Are Human
02:40 Personal experience using the cards with his father
04:56 First tip: Dreaming about expenses
07:10 Second tip: Asking what matters most
11:15 Third tip: Tackle Big Expenses Before Retirement
12:45 The Two Thoughts Paradox
13:45 Work with Root Financial
14:30 Conclusion
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What video topic would you like to see discussed in a future video?
Ari Taublieb, CFP®, MBA, is the Vice President of Root Financial Partners (Fiduciary) and host of the Early Retirement Podcast.
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⚠️ "DISCLAIMER:⚠️
All content is not to be received as financial advice, and each individual should consult with their dedicated financial planner, tax preparer, estate attorney, etc., before making any financial decisions.
This video contains content I created and got permission from its creators to use. This Channel DOES NOT Promote or encourage Any illegal activities; all contents provided by This Channel are meant for EDUCATIONAL AND ENTERTAINMENT purposes only.
Well said! Another great video, Ari!! Thanks to Carly, Hannah, you, and Root Financial, we just returned from an epic trip to the Big Island and are very much looking forward to our first Nat Geo Private Expedition trip in a few months. The peace of mind and comprehensive planning strategies you and your team provide are second to none! I cannot thank you enough!🤗👍
It’s our absolute pleasure and love to hear the Nat Geo trip is booked and on the horizon. I shared this comment with Carly, Hannah and the whole team - these comments are why we love to do what we do!
I helped my grandparents run a senior center for several years. That allowed me to see a lot of people in their retirement. It still amazes me how many people retire still owing several years on their home mortgage. Another thing is them having an older or high mileage vehicle. Then within the first couple of years of retirement they have to put out the money to get a new or newer vehicle while still paying house payments. Even worse some go into retirement with substantial credit card balances. To me taking care of those things should all be high on the list to get accomplished before retirement. Sometimes you don't get to choose when you stop working but carrying high debt loads in your later years to me just seems nuts.
Here’s how I think about having a mortgage in retirement -> ua-cam.com/video/RHCxFIi-IUg/v-deo.htmlsi=W1wtckV1Egzd86Hh
I love yours and your James' channel. You guys are so thorough.
Thank you!!
Thanks Ari for the great tips and advice!
You're so welcome!
That is so awesome that you took that trip with your father. I admire you for being so intentional about conversations with him. That is not how I was thinking when I was in my 20's.
Thank you very much. They raised me well.
This was great thank you!!! Janis
Glad you enjoyed it!
I loved your pictures from your trip.
Thank you!
I can see a strong resemblance with your dad, you are a younger clone 😉 I've been retired for 13 years and already living my best life so am not your typical listener. I am however a life long learner and this area has always been of interest to me. You offer a lot for me in the form of challenging me to look differently at things at times and new info as well. I share some of what I learn with my kids and grandkids. Keep up the great content Ari and have a great week. Larry, Central Valley, Ca.
Ha! Glad you’re already living your best life. Appreciate the comment and glad I’m challenging you to think differently to always improve your retirement
Great overview Ari! A good topic / suggestion for a future video or series would be to cover income investing to supplement retirement. For example, utilizing the brokerage account you suggested but instead of applying something comparable to the “4% Rule” where principal is accessed and you have sequence risk associated with a potential down market, have investments like covered call ETFs, BDCs, mREITs and preferred funds that provide a steady cash flow and you live off of dividends without touching the principal. The income investing idea is comparable to the thought that you referenced of working part time but more passive.
Thank you. Will add to my list :)
Just found your channel and can't get enough! Can you include in a show your recommendations for a retirement calculator to use or purchase to play around with different scenarios (ie spending patterns (smile), income levels, retirement age, etc)?
Thank you. Yes, here it is (same software I use for my clients): ari-taublieb.mykajabi.com/early-retirement-academy
Like the Architect said in the Matrix. "There are levels of survival we are willing to accept".
I really like your views on retirement planning. I am retiring next year at 59 and plan on doing very large Roth conversions till I reach SS at 67. My plan is to have all the money out of my 401k by that time.
Thank you. It’s very rare it’s optimal to completely convert everything to Roth.
You are the best!!
Tell them to be thankful for what they got.
Ari- I want to be one of your anon published case studies. How do I apply?
If I was 53 and had a 6 million dollars in a retirement account I would probably go with either the rule of 55 if my employer allowed it or significantly equal periodic payments.
7 years isn’t too long to have to e tied to the distributions and 6 million is a significant net egg to allow for unintentional over withdrawal.
Just my opinion.
Not a bad idea!
Sequence of risk for my retirment is not an issue… i’ve save enuf to be in fixed and other investments where the equity market has very little part of my income… i have fixed income, annuities as the most of my retirement.. the market and equties is what I dont care about… people should focus more on that then equities in retirement...
Is the access to Right Capital full access to all aspects? Just asking because some offer access but not to all screens and functionalities. Thx
It’s complete access minus one toggle for investing purposes. You can see what people say here: ari-taublieb.mykajabi.com/early-retirement-academy
@@earlyretirementari investment purposes as in allocation of equities vs fixed income, or what specifically?
@@leeward1717 you can link of your current investments in for a full perspective of your allocation (whenever they are - Fidelity, empower, etc.). The software defaults to a moderate allocation of 8% growth and 3% inflation for 5% real return throughout retirement. It allows you to stress test around these variables so you can run various scenarios. Please see what others say on the link provided to understand if it’s what you’re looking for.
@@earlyretirementari would you provide more detail on the toggle that isn’t accessible that you refer to as “for investment purposes” . Just doing due diligence here as there is a no refund policy. I’ve read the brief reviews but can’t presume to compare the authors to myself .
@@leeward1717 it defaults to 8% growth, 3% inflation so 5% real return throughout retirement. It’s a conservative estimate for projection sakes. The real value ain’t the software, although it is certainly nice. It’s the videos with me as your instructor.
That client with $6.5M in their 401k could have used the 72(t) rule to tap into their retirement accounts before 55. Could have even done a 72(t) on just a portion of the 401k and can start another 72(t) if the first one isn't enough money. That's my plan if we retire before 55.
They didn’t want to increase income for 5 years to interrupt tax planning (Roth conversions, subsidy planning, etc.)
Do you work with people that have cryptocurrency?
Yes, but it’s not our expertise.
You and your brother bought what?..
Sauna.
I thought he said a “semi-professional soccer team.” 😮
@@heidikamrath1951 yes that too!!
Semi professional soccer team as well!