I just retired at 50. I could not be happier. I still have my mom and dad alive. Training to do some Ironman races and mostly travel to the places I could not go before. I still wake up at 5 am but without any pressure. Just glad I found this channel.
Congrats, JC! That sounds really great. You're in good company as we are both early risers as well. We're glad you found us too. Have you seen my blog yet? As a recent retiree of essentially the same age, I think it should be up your alley. Best wishes to you! -Jason
I retired at 49 last year and it has been the best thing ever. Spent much of 2021 traveling all over the US visiting many of our national parks. I haven't felt this level of peace since I was 12!
Congratulations, Stephen! We both love the National Park System so we can certainly identify with what you're doing. It's so great to hear of your happiness. Any tips to share from your first year of retirement?
@@TwoSidesOfFI Thanks! I think the biggest tip I can give is, if you have a spouse, make sure they are on board AND post retirement expectations are aligned. For me, pre-retirement, my wife was cool with the idea as our financial "ducks" were all in a row. But, a few month post retirement there was a little bit of friction because her expectations of how I was spending my time was different that how I was spending my time. I got a few "Well, you don't have anything to do" jabs thrown at me. 😁
FI since 47, now 62. No regrets. My worst day retired is better than my best day at work. My life has changed in profound ways in terms of personal relationships. People matter. I would have never experienced the richness of the last 15 years if I had not made the choice to close the “work” door at 47. I worked my ass off to make it happen so live in a state of gratitude every single day. Do it!
Thanks for the feedback, Gary! Being 15 years post-FIRE you have a wealth of experience that we do yet not possess. It's great to hear that your sentiments are so encouraging. Are there any lessons you learned over the last 15 years that you would share with recent or soon-to-be early retirees?
I took early retirement about a year ago. The first six months was like being on vacation. After that I started to realize that not having to work does not automatically mean you will be happy. I think we are conditioned to believe that our work is the main source of stress in life. When that is removed we are forced to look deeper. I found that being happy is about being mentally healthy. Being mentally healthy requires close regular interactions with family and friends as well as some purpose or work. You won't be happy long if you do nothing or only do things for yourself.
You won’t be happy long if you don’t work or only do things for yourself. A very mature comment. We are men,not children, “playing”. One can make the comparison to eating chocolate: I love chocolate, but if that is all one eats, it soon will go from a pleasure to the exact opposite. One must work, and one must if able, help others. This really is a key to happiness. One must noble reasons to live. And if one is noble one’s life IS worthy. Cheers.
A big problem with having a lot of free time is that your mind will race more and more. That's really bad, causing anxiety and emotional stress. 30 minutes of Buddhist breath meditation a day will slow that right back down and help you be more calm and content. I'm agnostic, but samatha works and works well.
I guess it is not the same for everybody but I have a similar opinion. My goal has always not been to retire early but to do the things you like to do while you’re still working. I managed to do that during the last 20 years. I don’t see myself retire to just sit in front of the tv or work in the garden. Going on trips all the time doesn’t cut it either. There is no fun in having all the time in the world to do your hobbies and then find out that you don’t want to do your hobby 8 hours a day, 5 days a week. I have quite a few hobbies but I would hate having to fill my whole day with them. Socializing is also difficult because all of you friends and family are still working and don’t have the time to spend with you . Nothing is perfect
@@Johnsormani I'm currently 27 & have experienced this exact feeling. I got laid off 3 months ago... and the first month & a half was awesome. It's now 3 months in and itching to get back to work out of boredom due to not being able to go anywhere b/c of the pandemic. I don't think I ever want to be at home forever, but I also don't want to be at work forever either lol.
I've said for years I'll have enough to keep me busy till the day I die, couldn't wait to retire, when I did at 40, the list of things to do got even longer. I thought I would have a bunch of free time but I'm busier now than when I had a full time job. Doing the things I want instead of doing things just for money is so satisfying. Life is great!
4 years ago I retired at 54 - the first year was definitely a learning and growing experience, I needed to develop a new identify without having a job title to define it, it was a lot of letting the ego go and realizing that we are more than our jobs
I was retired at 30 and happy for 6 yrs but then I mismanaged my budget and had to work again for my second retirement at 46. Now I manage mo ey much better that I wont ever have to look for a job again!!
Really interesting to hear your experience. I’m one month in at 47. Picking up my daughter everyday from school when I see her face is enough to make it worth it. When I think about ‘lost’ income knowing I’m no longer contributing I would not swap time with my kids for a few dollars more.. Focusing on 3 things this year and refusing to add in commitments that don’t contribute to those 3 goals helps!
Totally agree with the questions of people post FI, "Won't you be bored?". My answer is always that I was bored at work and now I'm never bored! And if I feel that I need to work to fill that hole then I'll just go back to work. The wealth I have now is that I can choose to work, but also NOT to work.
I'm 47 also and could retire now, but I've decided to wait until 50 because my cash flow will be a little better. But man it's so hard to work when you know you can just simply retire and not listen to your dipwad boss anymore.
Very interesting chat. I just subbed. Retirement is a noble concept. I became a widower earlier this year, which created a vacuum, and I found myself thrust into absorbing Melissa's roles for our two daughters (9&13). Next thing I knew, 6 months had gone by, and I asked myself, "am I retired?". The answer is def "no", but I realized I could be "retired" if the kids were gone to college, because all I've done is give up earning for a pair of overalls and learning how to be a soccer mom. I was always present and I definitely appreciated and loved Melissa, but I still had NO idea how hard being a mom was/is (for me anyway). It's all the little things like clothes, groceries, cooking, full time chauffeur...... It's no wonder moms love wine so much, LOL. On the flip side of that, I'm 51 and it's definitely a cognitive dissonance seeing how your friends treat you when they realize you no longer work a 9 to 5 despite being a widower and single parent. I can't explain it. You'll def discover who you true friends are and who was just posturing, and some those good friends aren't who you thought they would be, but that's a diferent conversation. Nevertheless, I've seen money land and roll off people so fast it was like they were teflon. Don't be that guy/gal. Money doesn't manage itself, so invest in your future self spiritually, physically, intellectually. and financially. I wish you all nothing but the best. God Bless you all, Cheers!
Thanks so much for sharing your thoughts with us, Bobby. You've written some incredibly wise things here. We are very sorry to learn of your loss. You sound like a wonderful parent. Best wishes to you and your family.
I was widowed at 50 with 5 kids. People don’t know how to relate to you as a single person. They try of course abd it’s appreciated but you realize after a while how much flexibility you have compared to friends who have duties as a husband. Fitting into your old couples life as a single person can be the hardest part. I own my house and have savings but am working. When my youngest son (16) graduates high school the idea of retirement will likely increase. I was diagnosed with melanoma last year and took 60 days off work. A financial planner said to me “a lot of guys get their self worth from work. You don’t seem to have that problem!”
Since my wife and I retired in 2018, we eat better and exercise. Our stress levels have gone from 11 to 3. The trick is you have to retire to something not from something. Work related tasks and hobbies don't have to be a job to be fulfilling.
My wife and I are teachers. 28 and 25. About 7 years out from FI. Crazy to say that…. We’ve been busting the side gigs the last few years. Thanks for the insight!
I love this dual dialogue and your genuine friendship. I retired at 37 and I definitely relate to Jason's journey in year one of "Early Retirement" #firemovement
Can't believe it took me this long to find this channel! I'm 52 and 6 months in. I'm living my dream in Baja in an RV. It's interesting and a relief to hear the similar thoughts, concerns, plans and aspirations of someone in a similar situation.
Really enjoyed this conversation. I'm on the path to fi. Transitioned last year from W2 to contract work. As a therapist I'm fascinated by what makes us happy/fulfilled once money isn't the primary concern.
Thanks very much, Allen. That is indeed a fascinating topic and one I thought I considered often pre-FIRE; but now realize how much more time I've spent on it post-FIRE. The comment my wife made during Part 1 of the episode with our spouses is about the best summary I've heard on that point. Best wishes on your journey! -Jason
I'm so happy to hear this conversation. I became FI about 9 months ago and I'm right in the midst of this same change. It's great to hear someone else voicing some of my experience because I have plenty of friends who I can't really talk about it with. They are happy for me, but FI wasn't their goal like it was mine so they can't really relate.
Jason here - thanks for the feedback. Belated congrats to you on achieving your own FI goals! As you heard us discuss here - and in earlier episodes as well if you've had the chance to watch them - talking about FIRE to those on other paths is at least tricky, and at times awful. It is a bit revolutionary of an idea for many people, to be sure. Best wishes to you on your own journey!
I retired last week at 46. I found your discussion very helpful. It affirmed some of the assumptions I’ve been making and provided some good insight on things I hadn’t considered. Best of luck to both of you gentlemen as you continue to chart your course.
I retired at 46 too. I been living in Thailand, Cambodia, Vietnam and SK for the past decade til covid 19 hit. Now I am stuck and very bored in life. I do work part time and do leisure activities!
I have just retired at age 68. I have been a math teacher for a very long time. I am not sure what to expect. I am happier than I used to be. I am not sure what to expect next 10 years or what every time is left for me at this world. I will love to hear from you. Thank God bless.
Congratulations on your retirement, Vinay! We're glad to hear you are happier. Naturally it's impossible to predict what will come going forward for any of us. Whatever comes for you, we hope that you continue to find happiness in your pursuits.
I retired at 58 and never looked back. Never bored cos I set out goals across a wide range of interests (music/writing/computer skills/video making/ancestry/investingetc etc) plus daily exercise - walking/golf/gardening). BUT you must NEVER feel guilty if you are not progressing fantastically well on any specific interest. That is not what retirement is about.
I so appreciate the high level conversation that delves into the issues and feelings surrounding retirement issues. It’s one thing for content to identify the topics (like most content) but you both go into the details and context surrounding your experiences.
I’m like semi retired. I work twice a week and enjoy 5 days off fishing with the hubby and just relaxing at home. I don’t really need to retire early because I feel free and not stressed out. I have enough to live on and not worry about finances too much.
I retired three years ago at the age of 48. I still find it a challenge in responding when people ask 'what do you do?' I worry that I may come across as either pretentiously successful at an early age or someone who can't find work! 🤔
Belated congrats to you on your early retirement! Indeed, this is tricky, and we talked about it in a few earlier episodes as well - for example ua-cam.com/video/PDXeMZUoJdw/v-deo.html is one. We all have to find the wording that works for us and of course it can differ by the recipient. Jason is always interested in any tips on this point!
Totally get the adjustment period. Retiring at 55 I was not ready to go from on 24/7 job to no deadlines. Then there was the 2 month period of getting all my finances set which was a stress fest.
@@TwoSidesOfFI the only thing that helped was time and a great financial planner. He took all of my emails and explained the initial loss and the monthly return that actually made the investments worth it. Still trying to find some hobbies because I did get bored.
Great suggestion, Erin. I am really enjoying my once-weekly hobby job! And discounted wine is certainly a FIRE-approved fiscally responsible undertaking! -Jason
Hi Organising your finances, what multiple of your annual spend made you comfortable of FI. Some say 25times. I feel that is low. Trying to get other points of view. Thanks.
I sold my business in 2006 and moved to Costa Rica for 10 years and returned to the states after dad passed away. Now I’m 55 and don’t regret retiring early and heading back to Costa Rica next week. I subscribed and looking forward to watching your videos.
@@jimjam36695 In the UK 55 is the age you can currently start drawing from your pension pot. It has also in the past been an age lots of government employees were offered early retirement.
Just found your channel by chance and love your videos. I’m in my 50’s and am retiring early in 6 weeks. You guys thoughts and comments are exactly what I did to put me into the position to cut my ties with my company early. I’m looking forward to the opportunity to try new adventures in the next years.
Thanks for the comment. It doesn't surprise me to hear that the adjustments continue - though I'm also glad to hear you aren't bored. What would you say was the biggest changes in year 2 vs year 1 of RE?
@@TwoSidesOfFI year one focused more on rewarding myself for deserving the early retirement. Year two seems to be more about finding long-term interests that I plan on keeping
I imagine many of these same questions, thoughts and challenges can be applied to those who proceed the "normal" route and retire at retirement age. Whether one wants to retire early or later it is still a process to be contemplated.
The UA-cam algorithm at work today! I saw the thumbnail and had to do a doubletake... "wait this is the 30x40 guy". I've been following your blog and The Life of an Architect for a long time. I'm glad to see more of my interests overlapping. Subscribed.
Both hubby and I are semi retired. I was 44 and hubby was 48. We both feel like we are not ready to let go of our careers just yet but do want to have more time for other interests. The beauty of it is that we have a choice and flexibility to work more or less or not at all depending on how we want life to go. It's all about having options.
Precisely, Ruby! FI is about having the freedom to take the choices we want without fear of not being able to pay the bills. Many people do keep working for some time, whether at the same pace or sometimes with reduced hours. Whatever works best for you is the right answer! Best wishes to you
Glad to have found this channel. I just retired at 50, after 27 years in same career. Now 8 weeks into it, so far it has been an interesting and very indivdual journey. I am still adjusting, and have more time for hobbies and bucket list items (for example, finishing my firest novel and getting back in the darkroom as winter approaches). Looking forward to gaining some insight and perspective into this process from this channel.
Jason here - Welcome and congratulations on your retirement! We are glad that you found us. Please keep us posted on your progress. If you've not checked out my blog yet I think someone in your position might find it useful. The one year reflection post is linked in the description of this video. The main site can be accessed here: thenextphaseisnow.com/ Best wishes to you on your journey!
I am 4 years into FIRE and it was the right decision. Very scary at first. I put the consulting sign up too. I only choose the fun projects now but I have to be careful that the Hero in me doesn’t come back out and I end up back in my career.
Can relate to a lot of this. Retired last year also at 47. Learning to slow down and not having to do something took time to figure out. I made some mistakes stepping into retirement but quickly fixed it. I still haven’t figure put what to tell people about what I do. Telling people you retired does get funny looks. There is not as many people in our position as you might believe. Thank you good podcast
Great point, once you tell someone you are retired (early), it doesn't take much math to estimate your net worth. When people know you have millions saved, they act much differently
Great discussion. I hope to retire early at 45. Will officially start my journey in 1-2 years. I don’t think I’ll be bored when that time comes because I intend to keep busy with various passions and interests.
At 19:45 when you asked him "Would you ever say you are retired?" to someone that was asking about what he does. I would like to know some of the weird reactions he experienced that stopped him from saying he's retired. I retired at 45 this year. My wife has been telling her family that I'm unemployed and I'm trying to find a new job in Florida, which is where we plan on moving. I have to say, I found it funny at first but then I was a bit embarrassed about it when I would see them. I would feel like a they were seeing me as a deadbeat, even though that's not the case. I asked my wife to stop saying I'm an unemployed deadbeat lol.
Jason here - I’ve gotten lots of reactions, including jealousy, accusing me of laziness, and a barrage of questions about how much money I have. It’s a foreign concept to lots of people to say the least. I don’t think most of them have ill will. It’s just foreign to them and they often aren’t able to hold back their visceral response. And by the way, ha! Deadbeat is not a word I suspect is terribly accurate :) but it’s a new one for me in this case.
Your comment at the end that not many people are open to the idea of FI hit me. I've tried sharing it with family and friends, because I want them to be free as well, but the conversations normally fall on deaf ears.
Guess it works if you don’t have any medical issues, most have to wait until age 65 for Medicare. But as you mentioned , you can really take control of your health when retired by changing diet and exercise. You look happy and it’s nice when you saved for a goal such as this. Many of us being laid off got a taste of this by no choice and liked it once the emotional part of losing job is gone. However, COViD put a damper on real experience but maybe for better of not spending which made me realize how much I can do without. Now I’m looking for a job I want that is of good cause and fulfilling.
Without money there is no freedom. I wish i had done things differently. I worry i will never be able to retire and i am really sick of having to work.
I think it definitely helps if you have a base and you are mortgage free, I’m retired but renting a place, it’s only been 18 months but still financially anxious. Appreciated.
I retired at 56 and happy that I did. In my retirement, I realized that work took over my life. Currently, looking for a hobby and finding out what I want to do. It is very difficult for me at this time. I would; however, not return to work full time unless it was a fun job.
Really great dialog guys. So we’ll done, so real. I retired 9/30/2018 at 46. Man, the stories I have lol. I was a financial advisor for 27 years. I used to coach and advise my newly retired clients the challenges they’d face coming home, from depression, health, relationships, all the things I observed in the 27 years of watching clients retire, to find myself instantly experiencing some of those things, a lack of purpose, lack of activity, it was an interesting first year. I can relate to the wine tasting job, I took a PT job as a starter at my favorite golf course. I just wanted to be around the life style, the people, and the free golf was a serious motivator, but that commitment to those shifts wore me down, it lasted 4 months and I resigned and just joined the club haha. Fun stuff. Looking forward to more stories. God Bless
This is the first time I've ever binged a UA-cam channel and what a treat. I'm amazed at how much of your content I can relate to. I'm also 47, grew up under similar financial circumstances, and listened to Genesis and their contemporaries (had to throw that in). My background is similar to Jason's in that I'm an executive that was able to accelerate FI due to stock-based compensation. I'm very fortunate to be able to say that I'm waiting for stock options to vest before hanging up my hat because it would be lunacy to walk away from it even though I don't need it. That being said, my partner and I have set a drop dead date. Thank you so much for sharing! I look forward to following the remainder of your journey.
I took retirement during COVID, the company made us a good offer. I don’t regret taking the package, but it’s not what I always thought. Of course the pandemic didn’t help. I enjoy not having the stress to work and deal with all the politics at work. Think deep and hard if you plan to retire, it may not be what you think it would be.
I also like the dual dialogue you guys have going on. I'm on my 3rd years of FIRE and hoping to hit FIRE under 10 years. I have a few questions hope Jason can help me out on. 1- What do your family do for health insurance, does it cost more and how is the coverage? 2- Do you withdraw base on monthly expense or once for the whole year? 3- Do you have a big emergency fund that can cover your expense for many years?
Jason here - Hi Li Chen, thanks for the comment and your questions. Let me try to answer your questions: 1) we are presently on a COBRA plan from my last employer. When it expires end of year we will get a comparable (Silver most likely) high-deductible plan. Cost is driven by a variety ofo factors including where you live and # of people covered. For my family of three, that premium is about $1600 monthly. 2) We "pay ourselves" monthly from a money market account at our brokerage that we refill annually. 3) In total, we like to keep around 2 years of "cash" (some is actual emergency fund in checking, the remainder is in a brokerage money market).
@@TwoSidesOfFI My idea is pretty much the same atm. I'll refill annually into my money market account and withdraw monthly. I'll stop taking money out in bear market and use my emergency fund, so i'm thinking about keeping enough for 2 to 3 years of cash in high interest savings account and CD.
Great video guys! I am about three months out from pulling the trigger and man is it hard! After 35 years of working my butt off, and saving, and saving, and working, and saving, it is hard to flip the switch! I hope I have the nerve...
Thanks! And congratulations to you on being so close to your goal! Indeed it is tricky to have such a shift after only knowing one way. And only you can make the choice as to the right timing for you. Above all, you will know when it is time as the drive to do whatever comes next will be so great that you can't ignore it. Good luck to you!
This is very helpful to see and well laid out. I’m currently 27 with a $1M net worth, but I’m still probably 7-8 year away from full FIRE 🔥. Thank you for the video and I’m glad I discovered your channel. 👍🏼
I just stumbled upon your channel and have to thank you for what you are doing. ❤️❤️❤️ I have been pursuing chubby fire and planning to graduate from my career within the next 12 months. This particular episode speaks volumes to me. Even though I have watched 5 other episodes I came back to this one specifically for this comment. What you both are setting out to do with this channel is phenomenal and something I thought was missing from all the financial channels out there. I can’t thank you enough for validating what I have been thinking/obsessing about. So looking forward to see what this year brings and looking forward following your journey. Happy to share my situation and thoughts if you ever need content or guest interview. Peace and prosperity to you both!
I am still working but I do know I will need a purpose in life once work ends. I am hopeful that traveling the world, meeting people and making new friends, and maybe leaving a place just a little better than I found it will be enough purpose. I have family and grandkids too but I don't want to be tied down and remaining nearby in retirement, at least at first, I believe I will need to roam while I am still healthy enough to do it.
Is there another way to fill that need? Something over which you have control - setting your hours, choosing the most rewarding opportunities, etc? We wish you all the best in finding something fulfilling.
I am, by my estimates, four years from FI, and I start having a feeling of anxiety about what I am going to spend my time on when I get there. Will I be lonely? Will I lose my sense of purpose? Will I be comfortable living with the risk that my stocks may crash? Right now I am in a “exploitation” phase of my life, where I have a stable job, and a plan that involves me just keeping my nose to the grindstone until I cross the finish line. When I reach FI I will have to transition to an “exploration” mode, and discover what activities will enrich my life the most. It is both exhilarating and also scary at the same time.
Jason here - wow, you said so much here, Tim. I really appreciate you sharing it. As one presently in the exploration phase, I can identify with what you wrote. I’m really enjoying it with all its twists and turns. I definitely advocate for putting thought into the areas of exploration that are interesting to you, in advance. Surely these will lead to unforeseeable next steps as well! It cannot all be predicted in advance. But this is part of the excitement for me. Best wishes to you on your own path.
We just eat, sleep and WORK for so long. I found out that I’ve was so focus on work, that most of the people I hung out with were really JUST colleagues. I lost contact with almost everyone from school. Now that I have left work behind, I don’t have anyone to take fishing or backpacking🙁. Kind of sucks to the first, lucky enough to retire. I think it’s time for a move. Or sail ⛵️ off into the sunset 🌅….after this pandemic is over.
I retired at 49, the best years of my life. I can't understand why anyone would like to endure traffic, the costs of working and the sharks in the office. The only downside is the jealousy of other people. They can get nasty.
I know this is in the complete opposite view point of yours. But working gave me purpose and a want to progress within a company. My goals in life are probably much different that yours also.
@@fitfrog65Let me clarify I do not "love" to work. I just find it more appealing to be engaged in the world developing and creating products. Instead of being retired where you can only really be a investor. I will have to retire someday though.
@@Mike-dd8bd Since retirement, I've seen a lot of the world. With work I never could have allowed the time to travel and pursue my interests. Work is for making money so you can pursue your dreams or interests. We are seeing now that people don't want to work, jobs are going unfilled and business' is dying because of this. Retirement has been the best for me, I never thought life could be this enjoyable.
@@fitfrog65 What people kind of forget is that a job is a means of survival. Its not really there to make you happy or fulfill your dreams. Which is why most feel the way you feel. I am probably a rare exception due to my circumstance.
Looking to go this route myself and finances are lining up well to do it right around when the kids launch, possibly a bit earlier. It's great to hear some perspective from a person my age who has actually done it. Thanks for doing this vid!
Retired at 39. 46 now. I’ve spent the time since age 39 doing everything I’ve wanted to do and now I’m bored. Also have no family never been married. I’m very healthy and active and fit but miserable.
I'm already FI but I won't be FIRE until my kids leave the nest. Im 34 and my last child doesn't finish college til Im 46. My job has great insurance and the job is easy
Thanks for sharing! And that’s the freedom we buy post-FI: You don’t -need- to work but you may choose to so for reasons that are important to you. Best wishes to you and your family.
You don’t have to do anything. The best thing about reaching FI is that everything is optional. It becomes what you want to do. Sometimes I’ve had great jobs that lasted for several years, then came personnel changes that made me want to move to another job. If you’re in a great situation, then you may want to work for awhile longer. That you don’t have to work is wonderful and liberating in its own way.
@@sw6118 Cheers. My present job is actually quite convenient because I have the right to take a 6 month leave of absence and then come back if I want to. I'd definitely not want to leave work without a trial run.
I retired on my 49th birthday. House paid off and no debt so living off savings until i can get my pension. TBH its a real odd position to be in as all my friends still work full time. I did make allot of sacrifices to be in the position im in. Took about 3 months to fully switch off from my previous job, I had been there for 20+ years and had work for 30+ years so not 'working' was always going to be different. I did miss some of the people i worked with but the work not so much, It was scary handing my notice in but looking back, was the right thing to do. I am now in full control of what i do and when i do it 😀 i now volunteer to keep the social interaction thing going. For anyone else thinking about retiring early, do the maths to see if you can financially do it, but also think how you will fill your time. Social interaction is paramount. Enjoy 😀
I retired in 2020 age 46. It’s awesome. I’ve been into fitness my whole life so the hardest part is going out to great dinners all the time. It’s making me fat. It’s hard for me to say “no” to fun plans when I have no reason to say “no”. So that’s good.
Jason here - Hi Jason! Belated congratulations to you on your retirement. You beat me by a year, it seems :) Indeed there is temptation all around. I've definitely found it important to remind myself that I am -not- on vacation. This is life now! Best wishes to you.
@@TwoSidesOfFI I also enjoyed your comments on investments. I went all in on the SPY the day after closing and of course we all know what it’s done over the last year. Yes, it’s easy to be optimistic when the market is up like it is. I totally relate.
So true. You can easily gain when you have no stress and can eat as much as you want. It is important to keep healthy when retired as laziness can destroy a life style!
I retired at 46 but I didnt really want to so I tried to look for a job after 2 years because of a sense of being part of society etc. It was pretty difficult to get used to not working! And I gave it up. It can be boring travelling all the time and doing the things only you like. It takes few yrs to get used to being retired!
Jason here- Thanks so much for the feedback. I’m only 1.5 years post-RE now and I can readily see the adjustment can take time. I’ve talked to so many people now who talk about 2-5 years to really get comfortable with it. Best wishes to you on your path.
Well said that its a great feeling to be in early retirement when the market is doing well and investment portfolio is up, certainly testing when the situation flips. This is an insightful video and do share your continued journey in subsequent years. All the best.
I am planning to retire in 18 more months. I worry a bit about income because I will only get about $43k a year before tax compare to $100k currently. In LA, $43k before tax is only bread and butter money. No plan to move because I just bought a retirement home (no loan). I do have about 7 figures saved in defined retirement so there’s that safety net. My mother is 84 and living with me so I want to spend time with her. I have loads of hobbies and projects in my craft room. I have 2 passports so look forward to time abroad (month or two at a time slow travel). I am planning to have no plan, just relax and living slow.
Congrats on having the end in sight, Jen! Some concern about the change in income is certainly normal. That said, it's probably worth honoring that feeling if it has developed into worry. If you haven't tried living on your retirement budget yet (barring necessary differences such as excluding current housing-related expenses if they don't exist in your retirement home), that's one good thing worth trying. For certain you want to exhaust those concerns as much as you can over the next 18 mos. It sounds like you have lots of fun things to spend time on once you stop working - plus slow travel, which is great! Above all, best wishes to you on your journey.
@@TwoSidesOfFI i took July off with partial pay. The pay that month was about what I’d get after tax when I retire. Since I track spending, it was about breaking even, which made me anxious because I am used to save leftover monthly as reserve to pay cash for everything. Then again since I don’t have anyone to leave $ to so I should enjoy my sunset years spending $ i saved in retirement account:) Thank you for your good words. Old age comes way too fast after age of 50. Enjoy being active, agile, and mentally sharp because no money can buy them back after 80…..
Honestly there isnt a better FIRE podcast than theze two. My question is “is subsidized health insurance worth 3.5 more years of work?” (Would be retiring at 53 vs 57 with a spouse 8 years younger)
Wow, thanks so much, Jonathan. We truly appreciate it. I bet you can guess that our answer will be "it depends". It's easiest to look at it from a math perspective i.e. how much will it cost more or less if you choose to continue working or not. True, estimating health costs can be tricky - but it's doable. What's much harder is putting a price tag on the impact of 3.5 fewer or additional years in retirement. That's a personal question and one that only you and your spouse can answer. Wishing you all the best in making your decision! Keep us posted on what you decide
I just turned 46. My daughter is 16. I have about 2mil in net worth, no debt, about $10k a month in passsive income (wihtout touching principal) and a "retirement business" ready to go that would allow me to travel. My main business makes me a LOT of money (high 6 figures) but Im sort of done with it. I want to get out of a city and go to the beach. I'm ready for a new chapter but I think I would be an idiot for leaving behind top 1% income where I can save and invest $350k/year. I think maybe waiting 2-5 more years maybe be wiser.
Thanks for sharing, D C! It sounds like you've really set yourself up well - nice work! We certainly understand the question of timing, and Jason walked away from his peak earnings as well. The beauty of FI is that you now have the freedom to decide your "when" for RE. So long as you're still truly enjoying your work and the extra savings you can bank will enable the things you desire, that sounds like the right choice. Of course the beauty is that you can change your mind at anytime. Best wishes to you on your journey!
@@TwoSidesOfFI Thank you for your kind words. For whatever reason it feels like it is never enough or it is imprudent to stop working. Sometime I think I need to talk to a professional about my needless worrying😅
Nice discussion, really easy to listen to. I’m 41 and am targeting 50 as retirement date, then or before would allow some extra time with the kids before they start leaving home, COVID has also helped me spend a lot more time at home. Look forward to more or your content :)
Ha! I had that look for a while. I’m going on 3 years FI…never bored but I have problems staying focused and keeping a good routine. I found I created stress for a while in my hobbies (replacing the stress from work?) and unfortunately pay way too much attention to current events.
Jason here - Thanks for sharing! Ah yes, news/current events is ever present isn't it? I have to be mindful of that and take it in via small doses. It's also true that it's easy to replace work stress with hobby stress. For me it took the form of pressure to do X within Y time too often. I'm getting better about that but it's a journey, right? Best wishes to you
Really like your podcast guys. Great information! Looking forward to hearing more from you both and getting REAL talk - not just numbers. @24:29 - You both discuss "the random walk". Can you elaborate or tell me how I can find out what you're talking about?
Thanks, Jonathan! We appreciate the feedback. This is a topic we discuss in one of our earlier videos. The concept is basically experimenting with different hobbies and pursuits, and how that evolves into things you are truly passionate about.
Felicidades! Wow, you are getting really close. Nice job on all the progress you've made getting to this point, and best wishes in reaching your goals! Thanks so much for watching.
Great content. Really glad I found your channel. In March 2019 I left corporate America after 19 years to pursue my dream of developing my own game. And it looks like I’ll be launching this month or next :)
I'm thinking about retirement. I had an awesome job I had been at for 20+ years but they were bought out, and the new company closed our location. I did find a new job, doing the same thing. But this place was horrible. They had about an 80% turnover rate for mgrs. You may wonder why it was so high? Two words; "Serious Micromanagement". It was so bad I was getting sick weekly. So I lasted the "token" year like the others, and just quit recently. I may retire, or just find something I enjoy doing. But my days of doing what I had been doing are over. I'm just too old for that kind of stress anymore.
Wow that definitely sounds like a difficult situation. Sorry to hear it was so bad but glad you got out of it. We wish you all the best in whatever comes next for you.
Thank you so much for sharing... I've seen a few of your videos and it really resonates with a lot of what I am thinking about also... And it helps me to think or even rethink and how I can evaluate certain things better... To get to a certain decision or no decision needed for certain things. Really thank you again... It's comforting in a way that my thoughts on this are not that alien in some sense.
I just retired at 50. I could not be happier. I still have my mom and dad alive. Training to do some Ironman races and mostly travel to the places I could not go before. I still wake up at 5 am but without any pressure. Just glad I found this channel.
Congrats, JC! That sounds really great. You're in good company as we are both early risers as well. We're glad you found us too. Have you seen my blog yet? As a recent retiree of essentially the same age, I think it should be up your alley. Best wishes to you! -Jason
@@TwoSidesOfFI thank you. I’m now reading your blog. Amazing stories and input. Stay in touch.
Thanks, JC. I'm so glad to hear you're enjoying it. -Jason
Unfortunately, some have to be told what to do. They aren't good at retirement.
@@wysiwyg1Thanks. Currently living in Lima Peru. I still have an apartment in Fort Lauderdale.
I retired at 49 last year and it has been the best thing ever. Spent much of 2021 traveling all over the US visiting many of our national parks. I haven't felt this level of peace since I was 12!
Congratulations, Stephen! We both love the National Park System so we can certainly identify with what you're doing. It's so great to hear of your happiness. Any tips to share from your first year of retirement?
You’re living my dream. Well done.
@@TwoSidesOfFI Thanks! I think the biggest tip I can give is, if you have a spouse, make sure they are on board AND post retirement expectations are aligned. For me, pre-retirement, my wife was cool with the idea as our financial "ducks" were all in a row. But, a few month post retirement there was a little bit of friction because her expectations of how I was spending my time was different that how I was spending my time. I got a few "Well, you don't have anything to do" jabs thrown at me. 😁
@@Cuteypie-b9b Thanks! I have been truly blessed and am grateful for sure.
@@gaddis111 thanks for sharing! This is really great guidance.
FI since 47, now 62. No regrets. My worst day retired is better than my best day at work. My life has changed in profound ways in terms of personal relationships. People matter. I would have never experienced the richness of the last 15 years if I had not made the choice to close the “work” door at 47. I worked my ass off to make it happen so live in a state of gratitude every single day. Do it!
Thanks for the feedback, Gary! Being 15 years post-FIRE you have a wealth of experience that we do yet not possess. It's great to hear that your sentiments are so encouraging. Are there any lessons you learned over the last 15 years that you would share with recent or soon-to-be early retirees?
I took early retirement about a year ago. The first six months was like being on vacation. After that I started to realize that not having to work does not automatically mean you will be happy. I think we are conditioned to believe that our work is the main source of stress in life. When that is removed we are forced to look deeper. I found that being happy is about being mentally healthy. Being mentally healthy requires close regular interactions with family and friends as well as some purpose or work. You won't be happy long if you do nothing or only do things for yourself.
Well put, Allen. Thanks so much for sharing. Best wishes to you on your journey.
You won’t be happy long if you don’t work or only do things for yourself.
A very mature comment.
We are men,not children, “playing”. One can make the comparison to eating chocolate: I love chocolate, but if that is all one eats, it soon will go from a pleasure to the exact opposite.
One must work, and one must if able, help others.
This really is a key to happiness. One must noble reasons to live. And if one is noble one’s life IS worthy.
Cheers.
A big problem with having a lot of free time is that your mind will race more and more. That's really bad, causing anxiety and emotional stress. 30 minutes of Buddhist breath meditation a day will slow that right back down and help you be more calm and content. I'm agnostic, but samatha works and works well.
I guess it is not the same for everybody but I have a similar opinion. My goal has always not been to retire early but to do the things you like to do while you’re still working. I managed to do that during the last 20 years. I don’t see myself retire to just sit in front of the tv or work in the garden. Going on trips all the time doesn’t cut it either. There is no fun in having all the time in the world to do your hobbies and then find out that you don’t want to do your hobby 8 hours a day, 5 days a week. I have quite a few hobbies but I would hate having to fill my whole day with them. Socializing is also difficult because all of you friends and family are still working and don’t have the time to spend with you . Nothing is perfect
@@Johnsormani I'm currently 27 & have experienced this exact feeling. I got laid off 3 months ago... and the first month & a half was awesome. It's now 3 months in and itching to get back to work out of boredom due to not being able to go anywhere b/c of the pandemic. I don't think I ever want to be at home forever, but I also don't want to be at work forever either lol.
I've said for years I'll have enough to keep me busy till the day I die, couldn't wait to retire, when I did at 40, the list of things to do got even longer. I thought I would have a bunch of free time but I'm busier now than when I had a full time job. Doing the things I want instead of doing things just for money is so satisfying. Life is great!
Jason here - you said it! I can't believe how long my list has gotten. It sounds like you're doing great. Best wishes to you!
That's what I look forward to! I can't really relate to people who say "now what?" LOL
4 years ago I retired at 54 - the first year was definitely a learning and growing experience, I needed to develop a new identify without having a job title to define it, it was a lot of letting the ego go and realizing that we are more than our jobs
Jason here - yes, indeed. There's a lot of truth in what you wrote. Best wishes to you.
I was retired at 38, it has been 10 years now, time flies when you're having fun
I've been retired 27 years from 49 to 76. The happiest time, I never thought life could be this good.
I was retired at 30 and happy for 6 yrs but then I mismanaged my budget and had to work again for my second retirement at 46. Now I manage mo ey much better that I wont ever have to look for a job again!!
Really interesting to hear your experience. I’m one month in at 47. Picking up my daughter everyday from school when I see her face is enough to make it worth it. When I think about ‘lost’ income knowing I’m no longer contributing I would not swap time with my kids for a few dollars more.. Focusing on 3 things this year and refusing to add in commitments that don’t contribute to those 3 goals helps!
Totally agree with the questions of people post FI, "Won't you be bored?". My answer is always that I was bored at work and now I'm never bored! And if I feel that I need to work to fill that hole then I'll just go back to work. The wealth I have now is that I can choose to work, but also NOT to work.
I'm 47 also and could retire now, but I've decided to wait until 50 because my cash flow will be a little better. But man it's so hard to work when you know you can just simply retire and not listen to your dipwad boss anymore.
Very interesting chat. I just subbed. Retirement is a noble concept. I became a widower earlier this year, which created a vacuum, and I found myself thrust into absorbing Melissa's roles for our two daughters (9&13). Next thing I knew, 6 months had gone by, and I asked myself, "am I retired?". The answer is def "no", but I realized I could be "retired" if the kids were gone to college, because all I've done is give up earning for a pair of overalls and learning how to be a soccer mom. I was always present and I definitely appreciated and loved Melissa, but I still had NO idea how hard being a mom was/is (for me anyway). It's all the little things like clothes, groceries, cooking, full time chauffeur...... It's no wonder moms love wine so much, LOL. On the flip side of that, I'm 51 and it's definitely a cognitive dissonance seeing how your friends treat you when they realize you no longer work a 9 to 5 despite being a widower and single parent. I can't explain it. You'll def discover who you true friends are and who was just posturing, and some those good friends aren't who you thought they would be, but that's a diferent conversation. Nevertheless, I've seen money land and roll off people so fast it was like they were teflon. Don't be that guy/gal. Money doesn't manage itself, so invest in your future self spiritually, physically, intellectually. and financially. I wish you all nothing but the best. God Bless you all, Cheers!
Thanks so much for sharing your thoughts with us, Bobby. You've written some incredibly wise things here. We are very sorry to learn of your loss. You sound like a wonderful parent. Best wishes to you and your family.
I was widowed at 50 with 5 kids. People don’t know how to relate to you as a single person. They try of course abd it’s appreciated but you realize after a while how much flexibility you have compared to friends who have duties as a husband. Fitting into your old couples life as a single person can be the hardest part. I own my house and have savings but am working. When my youngest son (16) graduates high school the idea of retirement will likely increase. I was diagnosed with melanoma last year and took 60 days off work. A financial planner said to me “a lot of guys get their self worth from work. You don’t seem to have that problem!”
@@yorbalindason Thanks for sharing your story with us. We wish you and your family all the best.
Since my wife and I retired in 2018, we eat better and exercise. Our stress levels have gone from 11 to 3. The trick is you have to retire to something not from something. Work related tasks and hobbies don't have to be a job to be fulfilling.
My wife and I are teachers. 28 and 25. About 7 years out from FI. Crazy to say that…. We’ve been busting the side gigs the last few years. Thanks for the insight!
Your goal is in sight! Best wishes to you both.
I love this dual dialogue and your genuine friendship. I retired at 37 and I definitely relate to Jason's journey in year one of "Early Retirement" #firemovement
Thanks very much, Chris. We appreciate the feedback and your support. Any lessons you learned to add to what Jason shared? Best wishes to you.
Can't believe it took me this long to find this channel! I'm 52 and 6 months in. I'm living my dream in Baja in an RV. It's interesting and a relief to hear the similar thoughts, concerns, plans and aspirations of someone in a similar situation.
We are glad you found us! Congrats on achieving your goals! Any lessons learned from you first 6 months that you’d like to share? Best wishes to you!
Really enjoyed this conversation. I'm on the path to fi. Transitioned last year from W2 to contract work. As a therapist I'm fascinated by what makes us happy/fulfilled once money isn't the primary concern.
Thanks very much, Allen. That is indeed a fascinating topic and one I thought I considered often pre-FIRE; but now realize how much more time I've spent on it post-FIRE. The comment my wife made during Part 1 of the episode with our spouses is about the best summary I've heard on that point. Best wishes on your journey! -Jason
I'm so happy to hear this conversation. I became FI about 9 months ago and I'm right in the midst of this same change. It's great to hear someone else voicing some of my experience because I have plenty of friends who I can't really talk about it with. They are happy for me, but FI wasn't their goal like it was mine so they can't really relate.
Jason here - thanks for the feedback. Belated congrats to you on achieving your own FI goals! As you heard us discuss here - and in earlier episodes as well if you've had the chance to watch them - talking about FIRE to those on other paths is at least tricky, and at times awful. It is a bit revolutionary of an idea for many people, to be sure. Best wishes to you on your own journey!
I retired last week at 46. I found your discussion very helpful. It affirmed some of the assumptions I’ve been making and provided some good insight on things I hadn’t considered. Best of luck to both of you gentlemen as you continue to chart your course.
Thanks, Matthew! And congratulations to your on your retirement! We really appreciate the feedback. Best wishes to you on your own journey.
I retired at 46 too. I been living in Thailand, Cambodia, Vietnam and SK for the past decade til covid 19 hit. Now I am stuck and very bored in life. I do work part time and do leisure activities!
I retired at 51 since last year of June and realized I have more "home" work than I was working. Yes I'm happier as retired than if I'm still working.
Hi John, Jason here. Yeah, I think I've pretty much found the same :) Definitely happy though! Belated congrats on your retirement!
I have just retired at age 68. I have been a math teacher for a very long time. I am not sure what to expect. I am happier than I used to be. I am not sure what to expect next 10 years or what every time is left for me at this world. I will love to hear from you. Thank God bless.
Congratulations on your retirement, Vinay! We're glad to hear you are happier. Naturally it's impossible to predict what will come going forward for any of us. Whatever comes for you, we hope that you continue to find happiness in your pursuits.
I retired at 58 and never looked back. Never bored cos I set out goals across a wide range of interests (music/writing/computer skills/video making/ancestry/investingetc etc) plus daily exercise - walking/golf/gardening). BUT you must NEVER feel guilty if you are not progressing fantastically well on any specific interest. That is not what retirement is about.
Great advice, Roy - thank you for sharing!
I so appreciate the high level conversation that delves into the issues and feelings surrounding retirement issues. It’s one thing for content to identify the topics (like most content) but you both go into the details and context surrounding your experiences.
Thanks very much, Erin! We really appreciate the feedback and are very glad that you're enjoying it. Thanks for your support
I’m like semi retired. I work twice a week and enjoy 5 days off fishing with the hubby and just relaxing at home. I don’t really need to retire early because I feel free and not stressed out. I have enough to live on and not worry about finances too much.
Great! A perfect example of how such choices are individual. FI enables that freedom of choice. Best wishes to you, Ann
I retired three years ago at the age of 48. I still find it a challenge in responding when people ask 'what do you do?' I worry that I may come across as either pretentiously successful at an early age or someone who can't find work! 🤔
Belated congrats to you on your early retirement! Indeed, this is tricky, and we talked about it in a few earlier episodes as well - for example ua-cam.com/video/PDXeMZUoJdw/v-deo.html is one. We all have to find the wording that works for us and of course it can differ by the recipient. Jason is always interested in any tips on this point!
Totally get the adjustment period. Retiring at 55 I was not ready to go from on 24/7 job to no deadlines. Then there was the 2 month period of getting all my finances set which was a stress fest.
Thanks for the comment, Karen. It is quite a transition, isn’t it? What helped you get through these periods of change?
@@TwoSidesOfFI the only thing that helped was time and a great financial planner. He took all of my emails and explained the initial loss and the monthly return that actually made the investments worth it. Still trying to find some hobbies because I did get bored.
I've seen a few studies that encourage a part time transition to retirement instead going from 60 to 0. Maybe try what he did and find a hobby job?
Great suggestion, Erin. I am really enjoying my once-weekly hobby job! And discounted wine is certainly a FIRE-approved fiscally responsible undertaking! -Jason
Hi Organising your finances, what multiple of your annual spend made you comfortable of FI. Some say 25times. I feel that is low. Trying to get other points of view. Thanks.
I sold my business in 2006 and moved to Costa Rica for 10 years and returned to the states after dad passed away. Now I’m 55 and don’t regret retiring early and heading back to Costa Rica next week. I subscribed and looking forward to watching your videos.
Thanks for your comment and your support! Any lessons learned in those early years after retiring that you can share with our community?
The most important part is being able to adjust with that average $12-1300 monthly check with/without saving and 401k stuff!
What a great honest channel. I am retiring at 55 next year, some great points being raised.
Congratulations, Dave! Best wishes to you on your own journey. Thanks so much for the feedback.
I see people mentioning age 55. Is there a specific advantage wrt retirement accounts, pensions or health care or something else? Thanks
@@jimjam36695 In the UK 55 is the age you can currently start drawing from your pension pot. It has also in the past been an age lots of government employees were offered early retirement.
Just found your channel by chance and love your videos. I’m in my 50’s and am retiring early in 6 weeks. You guys thoughts and comments are exactly what I did to put me into the position to cut my ties with my company early. I’m looking forward to the opportunity to try new adventures in the next years.
Thanks very much!
Jumped at 56. 2.5 years down and still adjusting. Not bored. Do deal with some guilt when I enjoy all the westerns I've always wanted to see
Thanks for the comment. It doesn't surprise me to hear that the adjustments continue - though I'm also glad to hear you aren't bored. What would you say was the biggest changes in year 2 vs year 1 of RE?
@@TwoSidesOfFI year one focused more on rewarding myself for deserving the early retirement. Year two seems to be more about finding long-term interests that I plan on keeping
Thanks for sharing! This sounds great to us. Best wishes to you!
Long slow travel is great, however, 4 nights in a friend/family space is the sweet spot. Don't wear out your welcome!
Very true, Shaun
Agree on 4 nights. Just b/c we have unlimited days doesn't mean they do or want to accommodate.
I don’t even do one night. It’s always hostel or hotel room for me otherwise I can’t relax.
@@33Jenesis Same for me, not big on staying in others homes, I think its because I was homeless and couch surfing many years ago... its just not fun!
Visitor's and fish both stink after three days!
I imagine many of these same questions, thoughts and challenges can be applied to those who proceed the "normal" route and retire at retirement age. Whether one wants to retire early or later it is still a process to be contemplated.
Absolutely! We agree 100%.
The UA-cam algorithm at work today! I saw the thumbnail and had to do a doubletake... "wait this is the 30x40 guy". I've been following your blog and The Life of an Architect for a long time. I'm glad to see more of my interests overlapping. Subscribed.
Thanks, Eric! We’re so glad you liked it.
Both hubby and I are semi retired. I was 44 and hubby was 48. We both feel like we are not ready to let go of our careers just yet but do want to have more time for other interests. The beauty of it is that we have a choice and flexibility to work more or less or not at all depending on how we want life to go. It's all about having options.
Precisely, Ruby! FI is about having the freedom to take the choices we want without fear of not being able to pay the bills. Many people do keep working for some time, whether at the same pace or sometimes with reduced hours. Whatever works best for you is the right answer! Best wishes to you
Glad to have found this channel. I just retired at 50, after 27 years in same career. Now 8 weeks into it, so far it has been an interesting and very indivdual journey. I am still adjusting, and have more time for hobbies and bucket list items (for example, finishing my firest novel and getting back in the darkroom as winter approaches). Looking forward to gaining some insight and perspective into this process from this channel.
Jason here - Welcome and congratulations on your retirement! We are glad that you found us. Please keep us posted on your progress. If you've not checked out my blog yet I think someone in your position might find it useful. The one year reflection post is linked in the description of this video. The main site can be accessed here: thenextphaseisnow.com/
Best wishes to you on your journey!
I am 4 years into FIRE and it was the right decision. Very scary at first. I put the consulting sign up too. I only choose the fun projects now but I have to be careful that the Hero in me doesn’t come back out and I end up back in my career.
Can relate to a lot of this. Retired last year also at 47. Learning to slow down and not having to do something took time to figure out. I made some mistakes stepping into retirement but quickly fixed it. I still haven’t figure put what to tell people about what I do. Telling people you retired does get funny looks. There is not as many people in our position as you might believe. Thank you good podcast
Thanks! Best wishes to you on your journey
Yes i struggle with this too. Like, what's the best white lie that doesn't hurt anyone but doesn't get you into more white lies?
Great point, once you tell someone you are retired (early), it doesn't take much math to estimate your net worth. When people know you have millions saved, they act much differently
Can you give some details? How would anyone estimate your net worth? How do they behave differently?
Great discussion. I hope to retire early at 45. Will officially start my journey in 1-2 years. I don’t think I’ll be bored when that time comes because I intend to keep busy with various passions and interests.
At 19:45 when you asked him "Would you ever say you are retired?" to someone that was asking about what he does. I would like to know some of the weird reactions he experienced that stopped him from saying he's retired.
I retired at 45 this year. My wife has been telling her family that I'm unemployed and I'm trying to find a new job in Florida, which is where we plan on moving. I have to say, I found it funny at first but then I was a bit embarrassed about it when I would see them. I would feel like a they were seeing me as a deadbeat, even though that's not the case. I asked my wife to stop saying I'm an unemployed deadbeat lol.
Jason here - I’ve gotten lots of reactions, including jealousy, accusing me of laziness, and a barrage of questions about how much money I have. It’s a foreign concept to lots of people to say the least. I don’t think most of them have ill will. It’s just foreign to them and they often aren’t able to hold back their visceral response. And by the way, ha! Deadbeat is not a word I suspect is terribly accurate :) but it’s a new one for me in this case.
Lol
Your comment at the end that not many people are open to the idea of FI hit me. I've tried sharing it with family and friends, because I want them to be free as well, but the conversations normally fall on deaf ears.
Thanks for sharing. To many it is still a revolutionary concept. Often it’s the younger people who get it more readily in our experience.
Guess it works if you don’t have any medical issues, most have to wait until age 65 for Medicare. But as you mentioned , you can really take control of your health when retired by changing diet and exercise. You look happy and it’s nice when you saved for a goal such as this.
Many of us being laid off got a taste of this by no choice and liked it once the emotional part of losing job is gone. However, COViD put a damper on real experience but maybe for better of not spending which made me realize how much I can do without. Now I’m looking for a job I want that is of good cause and fulfilling.
Don’t understand this comment, can you not just include health insurance as part of your expense projections?
I love all the values clarification, i.e., not taking the high-paying consulting gigs. Freedom matters more than money …Thank you 🙏🏾🙏🏿🙏🏽
Thanks, Carlton! We appreciate the feedback. Candor on what we are thinking and doing is a key thing we want to share.
All of this is very inciteful! Thank you.
Without money there is no freedom. I wish i had done things differently. I worry i will never be able to retire and i am really sick of having to work.
I think it definitely helps if you have a base and you are mortgage free, I’m retired but renting a place, it’s only been 18 months but still financially anxious. Appreciated.
I retired at 56 and happy that I did. In my retirement, I realized that work took over my life. Currently, looking for a hobby and finding out what I want to do. It is very difficult for me at this time. I would; however, not return to work full time unless it was a fun job.
Best wishes to you in finding your passion in retirement, Monika!
Really great dialog guys. So we’ll done, so real. I retired 9/30/2018 at 46. Man, the stories I have lol. I was a financial advisor for 27 years. I used to coach and advise my newly retired clients the challenges they’d face coming home, from depression, health, relationships, all the things I observed in the 27 years of watching clients retire, to find myself instantly experiencing some of those things, a lack of purpose, lack of activity, it was an interesting first year. I can relate to the wine tasting job, I took a PT job as a starter at my favorite golf course. I just wanted to be around the life style, the people, and the free golf was a serious motivator, but that commitment to those shifts wore me down, it lasted 4 months and I resigned and just joined the club haha. Fun stuff. Looking forward to more stories. God Bless
Thanks for sharing, Ron. And a belated congratulations on your own retirement! Thanks for your support.
They must have been like "wow starters sure get paid a lot around here - this fellow became a club member!" hehehe
This is the first time I've ever binged a UA-cam channel and what a treat. I'm amazed at how much of your content I can relate to. I'm also 47, grew up under similar financial circumstances, and listened to Genesis and their contemporaries (had to throw that in). My background is similar to Jason's in that I'm an executive that was able to accelerate FI due to stock-based compensation. I'm very fortunate to be able to say that I'm waiting for stock options to vest before hanging up my hat because it would be lunacy to walk away from it even though I don't need it. That being said, my partner and I have set a drop dead date. Thank you so much for sharing! I look forward to following the remainder of your journey.
Thanks so much for the feedback, PT! Best wishes to you on your journey
I took retirement during COVID, the company made us a good offer. I don’t regret taking the package, but it’s not what I always thought. Of course the pandemic didn’t help. I enjoy not having the stress to work and deal with all the politics at work. Think deep and hard if you plan to retire, it may not be what you think it would be.
I also like the dual dialogue you guys have going on. I'm on my 3rd years of FIRE and hoping to hit FIRE under 10 years.
I have a few questions hope Jason can help me out on.
1- What do your family do for health insurance, does it cost more and how is the coverage?
2- Do you withdraw base on monthly expense or once for the whole year?
3- Do you have a big emergency fund that can cover your expense for many years?
Jason here - Hi Li Chen, thanks for the comment and your questions. Let me try to answer your questions:
1) we are presently on a COBRA plan from my last employer. When it expires end of year we will get a comparable (Silver most likely) high-deductible plan. Cost is driven by a variety ofo factors including where you live and # of people covered. For my family of three, that premium is about $1600 monthly.
2) We "pay ourselves" monthly from a money market account at our brokerage that we refill annually.
3) In total, we like to keep around 2 years of "cash" (some is actual emergency fund in checking, the remainder is in a brokerage money market).
@@TwoSidesOfFI My idea is pretty much the same atm. I'll refill annually into my money market account and withdraw monthly. I'll stop taking money out in bear market and use my emergency fund, so i'm thinking about keeping enough for 2 to 3 years of cash in high interest savings account and CD.
1% is high currently. In this case avoid selling in a downed market is”high rate”.
Great video guys! I am about three months out from pulling the trigger and man is it hard! After 35 years of working my butt off, and saving, and saving, and working, and saving, it is hard to flip the switch! I hope I have the nerve...
Thanks! And congratulations to you on being so close to your goal! Indeed it is tricky to have such a shift after only knowing one way. And only you can make the choice as to the right timing for you. Above all, you will know when it is time as the drive to do whatever comes next will be so great that you can't ignore it. Good luck to you!
This is very helpful to see and well laid out. I’m currently 27 with a $1M net worth, but I’m still probably 7-8 year away from full FIRE 🔥. Thank you for the video and I’m glad I discovered your channel. 👍🏼
I just stumbled upon your channel and have to thank you for what you are doing. ❤️❤️❤️ I have been pursuing chubby fire and planning to graduate from my career within the next 12 months. This particular episode speaks volumes to me. Even though I have watched 5 other episodes I came back to this one specifically for this comment. What you both are setting out to do with this channel is phenomenal and something I thought was missing from all the financial channels out there. I can’t thank you enough for validating what I have been thinking/obsessing about. So looking forward to see what this year brings and looking forward following your journey. Happy to share my situation and thoughts if you ever need content or guest interview. Peace and prosperity to you both!
Thank you so much, Matthew! We really appreciate your support. Best wishes to you on your journey.
I am still working but I do know I will need a purpose in life once work ends. I am hopeful that traveling the world, meeting people and making new friends, and maybe leaving a place just a little better than I found it will be enough purpose. I have family and grandkids too but I don't want to be tied down and remaining nearby in retirement, at least at first, I believe I will need to roam while I am still healthy enough to do it.
I was a teacher for 34 years. I enjoyed it but got a bit burnt out at the end. Now that I’m retired, I really miss it and dreading not going back.
Is there another way to fill that need? Something over which you have control - setting your hours, choosing the most rewarding opportunities, etc? We wish you all the best in finding something fulfilling.
Great content! I'm 46 and planning to reach "FI" by 55. Nice to start getting some perception from the other side.
I am, by my estimates, four years from FI, and I start having a feeling of anxiety about what I am going to spend my time on when I get there. Will I be lonely? Will I lose my sense of purpose? Will I be comfortable living with the risk that my stocks may crash?
Right now I am in a “exploitation” phase of my life, where I have a stable job, and a plan that involves me just keeping my nose to the grindstone until I cross the finish line. When I reach FI I will have to transition to an “exploration” mode, and discover what activities will enrich my life the most. It is both exhilarating and also scary at the same time.
Jason here - wow, you said so much here, Tim. I really appreciate you sharing it. As one presently in the exploration phase, I can identify with what you wrote. I’m really enjoying it with all its twists and turns. I definitely advocate for putting thought into the areas of exploration that are interesting to you, in advance. Surely these will lead to unforeseeable next steps as well! It cannot all be predicted in advance. But this is part of the excitement for me. Best wishes to you on your own path.
We just eat, sleep and WORK for so long.
I found out that I’ve was so focus on work, that most of the people I hung out with were really JUST colleagues. I lost contact with almost everyone from school. Now that I have left work behind, I don’t have anyone to take fishing or backpacking🙁. Kind of sucks to the first, lucky enough to retire.
I think it’s time for a move. Or sail ⛵️ off into the sunset 🌅….after this pandemic is over.
just found this channel definitely liked and subbed! Ready to binge watch!
So glad you like it - thank you!
This is a very cool video. Thank you for putting this content out. The insights are invaluable.
Thank you very much!
I retired at 49, the best years of my life. I can't understand why anyone would like to endure traffic, the costs of working and the sharks in the office. The only downside is the jealousy of other people. They can get nasty.
I know this is in the complete opposite view point of yours. But working gave me purpose and a want to progress within a company. My goals in life are probably much different that yours also.
@@Mike-dd8bd Many people have to be told what to do. If a person loves work, then don't retire, but my guess is he needs direction.
@@fitfrog65Let me clarify I do not "love" to work. I just find it more appealing to be engaged in the world developing and creating products. Instead of being retired where you can only really be a investor. I will have to retire someday though.
@@Mike-dd8bd Since retirement, I've seen a lot of the world. With work I never could have allowed the time to travel and pursue my interests. Work is for making money so you can pursue your dreams or interests. We are seeing now that people don't want to work, jobs are going unfilled and business' is dying because of this. Retirement has been the best for me, I never thought life could be this enjoyable.
@@fitfrog65 What people kind of forget is that a job is a means of survival. Its not really there to make you happy or fulfill your dreams. Which is why most feel the way you feel. I am probably a rare exception due to my circumstance.
Looking to go this route myself and finances are lining up well to do it right around when the kids launch, possibly a bit earlier. It's great to hear some perspective from a person my age who has actually done it. Thanks for doing this vid!
Thanks, Steve! We appreciate the feedback. You can do it! Best wishes to you.
FI early a few years ago. How are you able to do mid-day gym classes is commonly asked. Surround yourself with those bettering themselve also.
I turned 47 in September and plan to leave the work force in March! Thanks for this.
Happy belated birthday and congrats on your impending RE! Please keep us posted on how you're doing along the way. Best wishes to you.
Great show as I found this totally relevant. Retired twice and went back to work, and this is helpful as I plan 3rd time
Retired at 39. 46 now. I’ve spent the time since age 39 doing everything I’ve wanted to do and now I’m bored. Also have no family never been married. I’m very healthy and active and fit but miserable.
I'm already FI but I won't be FIRE until my kids leave the nest. Im 34 and my last child doesn't finish college til Im 46. My job has great insurance and the job is easy
Thanks for sharing! And that’s the freedom we buy post-FI: You don’t -need- to work but you may choose to so for reasons that are important to you. Best wishes to you and your family.
Lovely conversation guys, I'm 37 and on the path to FIRE but I am apprehensive about how I will feel about the transition once I'm there.
You don’t have to do anything. The best thing about reaching FI is that everything is optional. It becomes what you want to do. Sometimes I’ve had great jobs that lasted for several years, then came personnel changes that made me want to move to another job. If you’re in a great situation, then you may want to work for awhile longer. That you don’t have to work is wonderful and liberating in its own way.
@@sw6118 Cheers. My present job is actually quite convenient because I have the right to take a 6 month leave of absence and then come back if I want to. I'd definitely not want to leave work without a trial run.
Thank you for this talk. Getting folks to understand the why is always the challenge.
I retired on my 49th birthday. House paid off and no debt so living off savings until i can get my pension.
TBH its a real odd position to be in as all my friends still work full time. I did make allot of sacrifices to be in the position im in.
Took about 3 months to fully switch off from my previous job, I had been there for 20+ years and had work for 30+ years so not 'working' was always going to be different.
I did miss some of the people i worked with but the work not so much, It was scary handing my notice in but looking back, was the right thing to do. I am now in full control of what i do and when i do it 😀
i now volunteer to keep the social interaction thing going.
For anyone else thinking about retiring early, do the maths to see if you can financially do it, but also think how you will fill your time. Social interaction is paramount.
Enjoy 😀
Finally got a chance to watch and listen Jason. Love the content and have gotten me to think. Got me hooked.
Thanks, Peter! We really appreciate that and are very glad to hear you are enjoying it - and even more that you're thinking! Let's chat sometime...
I retired in 2020 age 46. It’s awesome. I’ve been into fitness my whole life so the hardest part is going out to great dinners all the time. It’s making me fat. It’s hard for me to say “no” to fun plans when I have no reason to say “no”. So that’s good.
Jason here - Hi Jason! Belated congratulations to you on your retirement. You beat me by a year, it seems :) Indeed there is temptation all around. I've definitely found it important to remind myself that I am -not- on vacation. This is life now! Best wishes to you.
@@TwoSidesOfFI I also enjoyed your comments on investments. I went all in on the SPY the day after closing and of course we all know what it’s done over the last year. Yes, it’s easy to be optimistic when the market is up like it is. I totally relate.
So true. You can easily gain when you have no stress and can eat as much as you want. It is important to keep healthy when retired as laziness can destroy a life style!
I retired at 46 but I didnt really want to so I tried to look for a job after 2 years because of a sense of being part of society etc. It was pretty difficult to get used to not working! And I gave it up.
It can be boring travelling all the time and doing the things only you
like. It takes few yrs to get used to being retired!
Jason here- Thanks so much for the feedback. I’m only 1.5 years post-RE now and I can readily see the adjustment can take time. I’ve talked to so many people now who talk about 2-5 years to really get comfortable with it. Best wishes to you on your path.
I retired at 48 now 5 years ago...I pinch myself each day to make sure it is real....best decision I have ever made.
A belated congrats to you, jon! Any lessons from your first few years you can share with us?
Well said that its a great feeling to be in early retirement when the market is doing well and investment portfolio is up, certainly testing when the situation flips. This is an insightful video and do share your continued journey in subsequent years. All the best.
Thank you! Very true, indeed. As someone once told me: “if you had a good plan before things got bad, you still have a good plan after!”
Thanks for the sharing. This video is definitely good for the FI chaser. I’m more confident after seeing this
Thanks, Ryan! So glad to hear it
Love it. Currently 32 and my retirement goal is 45.
Excellent! Best wishes to you in beating Jason by two years to the goal. :)
I retired at 47 in 2014. I went abroad and never looked back!!
i retired at the age of 25, i truly feel blessed to be living this lifestyle.
Wow that truly is early. From what field of work, and how do you fill your time since retiring?
Con 47 y pensando en hacerlo muy pronto. Gracias por compartir!!!
I am planning to retire in 18 more months. I worry a bit about income because I will only get about $43k a year before tax compare to $100k currently. In LA, $43k before tax is only bread and butter money. No plan to move because I just bought a retirement home (no loan). I do have about 7 figures saved in defined retirement so there’s that safety net. My mother is 84 and living with me so I want to spend time with her. I have loads of hobbies and projects in my craft room. I have 2 passports so look forward to time abroad (month or two at a time slow travel). I am planning to have no plan, just relax and living slow.
Congrats on having the end in sight, Jen! Some concern about the change in income is certainly normal. That said, it's probably worth honoring that feeling if it has developed into worry. If you haven't tried living on your retirement budget yet (barring necessary differences such as excluding current housing-related expenses if they don't exist in your retirement home), that's one good thing worth trying. For certain you want to exhaust those concerns as much as you can over the next 18 mos. It sounds like you have lots of fun things to spend time on once you stop working - plus slow travel, which is great! Above all, best wishes to you on your journey.
@@TwoSidesOfFI i took July off with partial pay. The pay that month was about what I’d get after tax when I retire. Since I track spending, it was about breaking even, which made me anxious because I am used to save leftover monthly as reserve to pay cash for everything. Then again since I don’t have anyone to leave $ to so I should enjoy my sunset years spending $ i saved in retirement account:)
Thank you for your good words. Old age comes way too fast after age of 50. Enjoy being active, agile, and mentally sharp because no money can buy them back after 80…..
You are set!!
again, another great episode, thank you ^^
Thank you for watching, Heidi! So glad you enjoyed it.
Honestly there isnt a better FIRE podcast than theze two. My question is “is subsidized health insurance worth 3.5 more years of work?” (Would be retiring at 53 vs 57 with a spouse 8 years younger)
Wow, thanks so much, Jonathan. We truly appreciate it. I bet you can guess that our answer will be "it depends". It's easiest to look at it from a math perspective i.e. how much will it cost more or less if you choose to continue working or not. True, estimating health costs can be tricky - but it's doable. What's much harder is putting a price tag on the impact of 3.5 fewer or additional years in retirement. That's a personal question and one that only you and your spouse can answer. Wishing you all the best in making your decision! Keep us posted on what you decide
@@TwoSidesOfFI ugghhh...i know what the financially responsible answer is...but medicine has burnt me out so badddddd :)...thx for all that you do!
I just turned 46. My daughter is 16. I have about 2mil in net worth, no debt, about $10k a month in passsive income (wihtout touching principal) and a "retirement business" ready to go that would allow me to travel. My main business makes me a LOT of money (high 6 figures) but Im sort of done with it. I want to get out of a city and go to the beach. I'm ready for a new chapter but I think I would be an idiot for leaving behind top 1% income where I can save and invest $350k/year. I think maybe waiting 2-5 more years maybe be wiser.
Thanks for sharing, D C! It sounds like you've really set yourself up well - nice work! We certainly understand the question of timing, and Jason walked away from his peak earnings as well. The beauty of FI is that you now have the freedom to decide your "when" for RE. So long as you're still truly enjoying your work and the extra savings you can bank will enable the things you desire, that sounds like the right choice. Of course the beauty is that you can change your mind at anytime. Best wishes to you on your journey!
@@TwoSidesOfFI Thank you for your kind words. For whatever reason it feels like it is never enough or it is imprudent to stop working. Sometime I think I need to talk to a professional about my needless worrying😅
Nice discussion, really easy to listen to. I’m 41 and am targeting 50 as retirement date, then or before would allow some extra time with the kids before they start leaving home, COVID has also helped me spend a lot more time at home. Look forward to more or your content :)
Thanks, Chris! We appreciate your support. Best wishes to you on your journey
Fascinating discussion - thanks for sharing this!!
Thanks for this. I'm retiring at 59, so not too early. My worries are that my wife is 10 years behind me. That will be different I'm sure.
Enjoy each of your perspectives.
Thanks, Mike!
53 for me thanks to tsla. Let the machine run! Exactly!
Ha! I had that look for a while.
I’m going on 3 years FI…never bored but I have problems staying focused and keeping a good routine. I found I created stress for a while in my hobbies (replacing the stress from work?) and unfortunately pay way too much attention to current events.
Jason here - Thanks for sharing! Ah yes, news/current events is ever present isn't it? I have to be mindful of that and take it in via small doses. It's also true that it's easy to replace work stress with hobby stress. For me it took the form of pressure to do X within Y time too often. I'm getting better about that but it's a journey, right? Best wishes to you
Love the idea of early retirement but can't cause need for affordable employer health insurance. Wish we had more options.
Really like your podcast guys. Great information! Looking forward to hearing more from you both and getting REAL talk - not just numbers. @24:29 - You both discuss "the random walk". Can you elaborate or tell me how I can find out what you're talking about?
Thanks, Jonathan! We appreciate the feedback. This is a topic we discuss in one of our earlier videos. The concept is basically experimenting with different hobbies and pursuits, and how that evolves into things you are truly passionate about.
Working on FIRE, looking like sometime in '23. Lean FI and moving to Mexico, we'll be 40.
Felicidades! Wow, you are getting really close. Nice job on all the progress you've made getting to this point, and best wishes in reaching your goals! Thanks so much for watching.
9 months later that down turn has arrived - would be interested to see what his concerns are now.
Here's a video on that topic from a few months ago. This Sunday we'll release an update! ua-cam.com/video/zX09eh4pBtk/v-deo.html
Great content. Really glad I found your channel. In March 2019 I left corporate America after 19 years to pursue my dream of developing my own game. And it looks like I’ll be launching this month or next :)
Congratulations on pursuing your dreams! Care to share a link or any other info about your game?
@@TwoSidesOfFI of course! It's a mobile basketball sim game. Here's a promo video I developed. ua-cam.com/video/DtcFd6Ar5mk/v-deo.html
And btw, when people ask what I do, I also tell them I'm a consultant. Maybe I'll have the courage to admit I'm now a game developer soon :)
Truly great, real dialog. Appreciate this... Subbed.
Thanks so much, Patrick! We appreciate the support.
I'm thinking about retirement. I had an awesome job I had been at for 20+ years but they were bought out, and the new company closed our location. I did find a new job, doing the same thing. But this place was horrible. They had about an 80% turnover rate for mgrs. You may wonder why it was so high? Two words; "Serious Micromanagement". It was so bad I was getting sick weekly. So I lasted the "token" year like the others, and just quit recently. I may retire, or just find something I enjoy doing. But my days of doing what I had been doing are over. I'm just too old for that kind of stress anymore.
Wow that definitely sounds like a difficult situation. Sorry to hear it was so bad but glad you got out of it. We wish you all the best in whatever comes next for you.
Thank you so much for sharing... I've seen a few of your videos and it really resonates with a lot of what I am thinking about also... And it helps me to think or even rethink and how I can evaluate certain things better... To get to a certain decision or no decision needed for certain things.
Really thank you again... It's comforting in a way that my thoughts on this are not that alien in some sense.
You are so welcome! Thank you so much for your support. Best wishes to you on your own journey.
Such an excellent interview. Thanks for sharing such honest experiences.
Thank you so much!
Thanks for this video. So helpful.
At some point your time becomes more valuable than the money. You only need so much money. But is sometimes hard to pass it up.
💯