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Duke of Early Retirement
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Добавлен 31 дек 2020
This channel is about saving, investing, and early retirement. Whether you're a hardcore member of the FIRE movement or just trying to improve your financial situation, I hope my content entertains, informs, and inspires you.
I'm based in Colorado and pursuing financial independence. I plan to "retire" early, in my mid to late forties.
I'm based in Colorado and pursuing financial independence. I plan to "retire" early, in my mid to late forties.
The Only Metric That MATTERS for Financial Independence
📈 Want to achieve financial independence quickly? There's just one key metric you need to focus on: your savings rate. In this video, I break down what savings rate is, why it’s crucial, and how it impacts how soon you can retire. We’ll go over how to calculate it, define savings, spending, and income, and how to boost your savings rate. Ready to take control of your financial future? Watch now and start optimizing your path to financial independence! 💰🚀
🔗 Links:
ruclips.net/video/Q2OI7GXLEHY/видео.html
ruclips.net/video/dng_W3V_HoU/видео.html
The Shockingly Simple Math Behind Early Retirement: www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
📌 Timestamps:...
🔗 Links:
ruclips.net/video/Q2OI7GXLEHY/видео.html
ruclips.net/video/dng_W3V_HoU/видео.html
The Shockingly Simple Math Behind Early Retirement: www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
📌 Timestamps:...
Просмотров: 1 694
Видео
Put Your Cash to Work with SGOV ETF Before Rates Drop
Просмотров 84214 дней назад
Looking for a safe place to park your short-term cash? The iShares 0-3 Month Treasury Bond ETF (SGOV) currently offers a solid 5.23% yield with minimal risk. Perfect for emergency funds, big purchases, or cash waiting to be invested. Unlike savings accounts, SGOV provides a competitive yield without the need for shopping around, all while being highly stable and low-cost. Plus, you can buy SGOV...
How I Vacationed in Hawaii for LESS and Optimized for Fulfillment
Просмотров 24414 дней назад
Discover how I turned a dream trip to Hawaii into an unforgettable experience while keeping costs in check. From using hotel points to finding local eats and avoiding tourist traps, I’ll share my top strategies for enjoying a vacation to Hawaii without breaking the bank. Learn how I minimize regret and optimize for fulfillment, because the future is now. 📌 Timestamps: 0:00 Intro 1:27 The Future...
Dave Ramsey is RIGHT About This (Sorry America!)
Просмотров 2,6 тыс.Месяц назад
In a country where consumerism is king, Dave Ramsey cuts through the noise with a stark truth: normal is broke. Dive into this eye-opening video as I explore why Americans struggle to save. Join me as I unpack Ramsey's unconventional wisdom and challenge you to embrace the unconventional. It's time to get weird, America, because normal is broke. 🔗 Links: Be Weird or Be Broke: ruclips.net/video/...
Roth IRA vs Taxable: Which is Better for Early Retirement?
Просмотров 543Месяц назад
In this video, I dive into a comparison between Roth IRAs and taxable brokerage accounts to determine which is best for early retirement. While Roth IRAs offer enticing tax advantages, a taxable brokerage account might actually be superior for those aiming to retire early. 🔗 Links: ruclips.net/video/UUKPukAnkbM/видео.html ruclips.net/video/jl4OUvIC6vI/видео.html ruclips.net/video/60GUgog1HWs/ви...
This Credit Card Offer is INSANE! | Chase Ink Business Preferred 120K Bonus (EXPIRED OFFER)
Просмотров 444Месяц назад
In this video, I dive into the incredible new bonus and other features of the Chase Ink Business Preferred credit card. Whether you're a seasoned points collector or new to the game, this offer is one you don't want to miss! 🔗 Links: This offer has EXPIRED, but you can still sign up for the card using my referral link... My referral link: Earn bonus points with the Ink Business Preferred®. I ca...
Pursuing FIRE is Extremely LOGICAL (Once You Know the Goal)
Просмотров 1,3 тыс.2 месяца назад
In this video, I delve into the concept of FIRE-Financial Independence, Retire Early. Join me as I logically explore each step towards achieving financial independence. Discover why money is merely a tool on our journey towards a good life and self-actualization. Learn how FIRE isn't just about retiring early but about gaining the freedom to pursue what truly fulfills you. Let's uncover how to ...
The Hidden Costs of Staying at Your Job (FIRE Motivation)
Просмотров 8263 месяца назад
Explore the often-overlooked costs associated with staying at your job. From missed opportunities, to taxes, to health and relationship impacts, discover the hidden costs of staying in your current employment. This insight might be the cure for “one more year syndrome,” as you trade in your job for more autonomy in your life. 📌 Timestamps: 0:00 Intro 1:08 Opportunity Costs 4:23 Tax Costs 5:30 H...
Financial Independence, Retire NEVER? (Warren Buffett's Advice Applied to FIRE)
Просмотров 5663 месяца назад
This video explores Warren Buffett's philosophy of finding work you're passionate about, contrasting "work" with a traditional "job." It advocates for financial independence and early retirement (FIRE) not as an end to work, but as a means to pursue meaningful work aligned with personal values. By reframing Buffett's advice, it encourages viewers to prioritize autonomy and fulfillment, envision...
Should You Convert Vanguard Mutual Funds to ETFs? (And How To Do It Tax-Free)
Просмотров 1,4 тыс.4 месяца назад
This video is a guide to converting Vanguard mutual funds to ETFs. Discover the ins and outs of converting Vanguard mutual funds to ETFs. Learn about the decision-making process and the step-by-step procedure for making the conversion without triggering a taxable event-simply with a phone call to Vanguard. But before you make the switch, delve into the nuances of this transition, carefully weig...
Vanguard Has Changed... Is It Time to Jump Ship?
Просмотров 6 тыс.4 месяца назад
Vanguard pioneered low-cost index investing. From its inception by John Bogle in 1974 to becoming a trillion-dollar giant in the investment world, Vanguard's story is one of innovation and disruption. However, Vanguard may be a victim of its own success, as the company grapples with technological and customer service shortcomings. This video explored Vanguard's impact, controversies, and the ch...
Shelter Your Small Business Income with the SEP-IRA
Просмотров 1674 месяца назад
Discover the SEP IRA: Your Ticket to Tax-Advantaged Savings for Small Business Owners & Side Hustlers. If you're diving into entrepreneurship or running a side gig, securing your financial future is essential. Enter the SEP IRA - a powerful retirement plan designed for the self-employed and small business owners. In this video, I break down everything you need to know about SEP IRAs. Don't miss...
10 Money-Saving Tactics to Build Wealth Quickly
Просмотров 1,1 тыс.5 месяцев назад
10 Money-Saving Tactics to Build Wealth Quickly
Drive Less, Thrive More | Saving Money, Boosting Health, and Gaining Freedom
Просмотров 3165 месяцев назад
Drive Less, Thrive More | Saving Money, Boosting Health, and Gaining Freedom
My Vision of Early Retirement at 45 (Expectations and Challenges)
Просмотров 7 тыс.5 месяцев назад
My Vision of Early Retirement at 45 (Expectations and Challenges)
Why You Should Spend MORE at the Grocery Store
Просмотров 10 тыс.6 месяцев назад
Why You Should Spend MORE at the Grocery Store
How Much Money I Made Selling Options in February
Просмотров 1,2 тыс.6 месяцев назад
How Much Money I Made Selling Options in February
Top 10 Accounts Yielding 5% Or More in 2024
Просмотров 1,3 тыс.6 месяцев назад
Top 10 Accounts Yielding 5% Or More in 2024
The Superpowers of FIRE (How to Reach Financial Independence and Retire Early)
Просмотров 1,9 тыс.6 месяцев назад
The Superpowers of FIRE (How to Reach Financial Independence and Retire Early)
How to Stay Motivated on Your FIRE Journey (Financial Independence, Retire Early)
Просмотров 6 тыс.6 месяцев назад
How to Stay Motivated on Your FIRE Journey (Financial Independence, Retire Early)
Market at Record High but Storms Are Coming (DO THIS NOW!)
Просмотров 2,5 тыс.6 месяцев назад
Market at Record High but Storms Are Coming (DO THIS NOW!)
5 Essential FIRE Books to BLOW YOUR MIND
Просмотров 1,3 тыс.7 месяцев назад
5 Essential FIRE Books to BLOW YOUR MIND
Types of FIRE: 5 Paths to Financial Independence and Early Retirement
Просмотров 3,3 тыс.7 месяцев назад
Types of FIRE: 5 Paths to Financial Independence and Early Retirement
How to RUIN Your Financial Life (Sarcasm)
Просмотров 1 тыс.7 месяцев назад
How to RUIN Your Financial Life (Sarcasm)
My Options Trades REVEALED (January 2024)
Просмотров 2 тыс.7 месяцев назад
My Options Trades REVEALED (January 2024)
What is Vanguard’s Cash Plus Account? (High Yield vs Money Market Fund)
Просмотров 18 тыс.7 месяцев назад
What is Vanguard’s Cash Plus Account? (High Yield vs Money Market Fund)
What Happened to the FIRE Movement?
Просмотров 177 тыс.7 месяцев назад
What Happened to the FIRE Movement?
How to Retire Early (Most People Won't Do This)
Просмотров 5 тыс.7 месяцев назад
How to Retire Early (Most People Won't Do This)
Diversification VISUALIZED: The Periodic Table of Investment Returns
Просмотров 3117 месяцев назад
Diversification VISUALIZED: The Periodic Table of Investment Returns
Retirement Contribution Limits for 2024: How Much Can You Save?
Просмотров 4937 месяцев назад
Retirement Contribution Limits for 2024: How Much Can You Save?
Hmm .. But your RH gold give you almost the same return, isn't it? So, why brother you with this ETF that isn't optionable btw! Thanks!
This is available theough any brokerage. It’s perfect for those that don’t have Robinhood gold, aren’t selling options, and want a way to get solid yield on idle cash.
@@dukeofearlyretirement U right ...
9:09 why are we dividing the SPENDING by the takehome income to get SAVINGS rate? shouldn't it be savings divided by income? also if i have 38% investment rate + 27% savings rate, by your definition, do i technically have 65% total savings rate?
Good catch! That should be SAVINGS divided by take-home income. I'm not clear on your second question. Are you separating the amount you saved and invested from the amount you saved but did not invest? In my calculation, I would keep it simple and lump those together as savings and then divide by take home income. I would not include investment returns as income in my savings rate calculation.
@@dukeofearlyretirement Ramit Sethi recommends tracking 4 numbers, savings rate, investment rate, fixed costs, and guilt-free spending. So I've been doing it this way because it feels infinitely better to track my investment rate rather than not doing so. So in the sense of other people who recommend tracking solely savings rate and fixed costs, if I wanted to recalculate in that sense, do I lump my savings rate and investment rate together to get my total savings rate? Just to be clear, these are not investment returns, they're just the money I set aside for investments, money I did not spend for fixed costs or needs. For example I would set aside 38% of my income and invest it into the S&P500, does that count as part of my savings rate?
The issue is that, here in Europe generally speaking, not everybody has an income which can permit him to have a 50% saving rate especially with a family and kids. For instance I live a rather frugal life, I neither have a wife nor kids and I can save 30% of my salary which is not so rich
I think 30% is a solid savings rate. It's actually rare, even in the US, for households to save that much. 15-20% is the standard financial advice, and many people struggle to even reach that. But there are also many households with high salaries or dual-incomes that could save 50% or more if they got their spending under control.
🤘
I am at a 47% savings rate so far this year in early retirement. I am going to have a 69% savings rate by the end of the year. Even with this, I am traveling more than ever before.
Wow, I’m in exactly your position trying to figure out whether to move my cash to my Vanguard money market account from my Ally savings account and your video came up in my search. You answered all of my questions about the money market account. Thank you!
I would have to max out my 403b before any contributions went towards the 457b. Just the way my employer set it up.
That's a bummer. I feel like they shouldn't be able to dictate that. But legally, perhaps they can.
Except when the market goes to hell and you lose your ass !
Hey Duke! Thinking of doing this, I hold VFIAX and want to convert to VOO, did you run into any issues with fractional shares of the mutual fund not being able to be converted? Would it be recommended to hold only whole shares of VFIAX before converting or is the process the same regardless?
No, this wasn't an issue. After the conversion, I had the correct number of shares and fractional shares of the ETFs to equal the value I had in the mutual fund.
Here's a scenario that I haven't seen covered: 457b allows for withdrawals before age 59.5 without the 10% penalty. When doing a Roth conversion with 457b funds, can I withhold the taxes from the 457b? I guess it's a no brainer to be able to pay the taxes with a 457 withdrawal, whether it's a withholding or a separate withdrawal, but maybe it's a bit more nuanced than I'm thinking?
You should not retire at 45 IMO. Doing so would be a disservice to you and everyone that invested in you to get you to this point. You are likely at the cusp of entering into the peak earnings, value contribution and work/lifestyle balance years of your career. Further, if your profession/trade/vocation, what have you, has positioned you to be able to retire at 45, you have an implied ethical obligation to pass your knowledge and experience onto the next generation so that they can realize the benefits you have and progress upon what you did. Don't retire at 45. Retire much better off around 55. My thoughts anyway.
Hi, I filled out the data for the CSP calculator but the bottom portion did not automatically calculate.? thank you
I think you can now auto invest with ETF. You can switch mutual to etf online on their website now as well.
Hello, on the tracker spread sheet, for example; if you sell a PUT option with 3 contracts and later But to close 1 of those 3 contracts, does that get entered on a separate line?
Yes, in that situation I would insert a new row under the first one, and then separate them so there are two puts on one line and one put on another. It takes some manual effort, but this way it will calculate correctly.
Thanks for explaining the weird price movements.
I will stick with JPST
Enjoy your 2X higher 0.18% expense ratio! vs. SGOV at 0.09%
Any reason to prefer SGOV over VMRXX if you're a Vanguard user?
No, if you have access to Vanguard mutual funds, VMRXX gets you practically the same results as SGOV. VMRXX might have slightly less exposure to treasuries, and therefore might be slightly less tax exempt at the state level. But now I am getting into the weeds and I’m no accountant. SGOV is great for those not at Vanguard though.
Do you get a death step up in basis for both? Capital gains?
My understanding is that you get the same step up in basis for either one if they are in a taxable account.
Well, it was just a scam to hawk books and seminars. Plus, IMO, it was just so culty, cingey, boring and unappealing. It's just not interesting.
Great frugal strategy for the trip! Love the pre-packed sardines and jerky idea! Nothing says frugal like cracking open a smelly can of sardines poolside at a four star resort! 😂 At a certain age in life, it really is time to tip the scale more toward living and less toward work/saving. I’d say that age is north of about 40 for most with families. The important thing to consider is that if you didn’t prioritize income and investing when you were younger, you won’t have much optionality for life balance in your 40s. Now that we’re FI, we continue to work by choice, reduce our savings rate and spend copiously on enjoyed experiences just like this for our family. 👍🏻
I think you nailed it. 40s is kind of a sweet spot to live it up more. Especially with a family and the stash built up over the past decade or so. But frugal habits continue to come in handy too. I love that you're FI and continue to work by choice. That's an amazing position to be in. And about those sardines... I at least had the courtesy to eat them outside!
@@dukeofearlyretirement haha love it man! I’m a big fan of canned sardines as a go to snack too!
How to do it on a almost totally loss position? Due tomorrow 😢
I am negative on that position, can I still use rolling position on a call option that is negative/loss but not totally loss yet, tomorrow, pls help
Is this a call that you sold and it’s gone in the money? If so, it might be worth rolling out if you can roll for a credit. This would also add more time to the trade for the underlying to (hopefully) move in the direction you want. But if the call option is too deep in the money, it might not be possible to roll for a credit.
@@dukeofearlyretirement yes I am few dollars left. Started on $1240 Nvidia and today is --$1200
Choosing the right partner, who is willing to share and enjoy frugal experiences, is extremely important. Glad that you made your dream come true and visited the place you wanted to see.
I definitely chose the right partner, even if I can't show her in my videos :) Thanks for the comment!
The future is NOW! This is so true Great tips, mate Going to Europe in november for the first time in over 7 years, and the first time with my family. Will Def apply your tips
thank you
I've been with Vanguard 30 yrs. No problems.
This only works for a small number of mutual funds.
Very nice, but what happened to the stats tab?
Fire takes a lot of sacrifice and discipline. I’m on my journey to fire and I live in a small RV to do it. Hopefully I’ll be done and chilling and traveling full-time and five years. Thank you for keeping me inspired these channels really appreciated 😊
He didn't really end this video! He left us wondering with that question, should I put all my money in this account?
If I’m in the lowest tax bracket and have it in for a year will I have taxes on my vmfxx when I take it out?
You can use the catch up on both the 401k & 457B at the same time.
My heart goes out to those that lost family and pets during that period.❤😢
I guess you mean that the original "weird" FI has been replaced by a "softer version". But to ask "Why don't we hear about it as much as we used to?" Are you kidding? You watch one youtube video and your feed instantly fills with crap from the endless horde of "content creators" and their slick monetized yammering. They attend Fincon's to swap their "side hustle" techniques and grow their "businesses" and "branding". That's all exploded since 2019, and it's not "FIRE" by any definition of the term.
Omfg. There’s millions of crappy videos on RUclips about this and you just summed it up in like 15 seconds. Thank you for the perfect explanation!
I am about fully maxed out on what I can put in the 457. I always half my raise. Two more years and I can’t put anymore in.
“Always half my raise” - Nice strategy!
VMFXX not as you said, VFMXX
Just got a subscribe and thumbs up from me! I also use Ally's savings account to save most of my money. I also just opened a Vanguard account using this settlement fund. I initially opened a Vanguard account to start putting money into Vanguard Growth ETF (VUG) but that's currently on a downswing (I'm not worried about it though since this is a long-term strategy) but I can;t help but want to keep my money in the settlement fund (VMFXX) seeing as how it's already growing, lol. Anyway, no question here, just talking out loud and open to discussion. I'll be sure to check out your other videos, perhaps you've made a video about VUG?
Vmfxx is great! The guaranteed 5%+ feels like a no brainer, but for long term investing, it’s probably best to stick with something like that growth etf or VTI or VOO. And close your eyes and keep buying them for the long term. At least that’s what I tell myself. Thanks for the comment!
Thank you for this spreadsheet. I have been using a paid one that has so many bells and whistles including graphs and charts, that at the end of the day I find it too glitchy and complicated for my needs. Your's covers everything I do, including the wheel. I think it wil be exactly perfect for me. Thanks again.
Yall making this shit too easy
Open another account like Fidelity as a back up. You can always bail on vanguard if they start pissing off their clients.
Hi - I don't know if you are currently tracking the comments. I wanted to know if it would be possible to add Adjusted Cost Basis for stocks based on Covered Calls written against them. As you keep writing covered calls, your cost basis for the stock goes down. I have many stocks that I am writing covered calls against. It's very difficult to keep track over a long period of time. This would be an excellent option if possible. I expect that this would be difficult to implement, but was just wondering.
With only 23k, you can probably withdraw the very small amount from traditional ira tax free if are poor enough. I think you don't need to file for tax if 65 or older and make less than $14,000.
Has their complaints process improved any ?
You can withdraw from a 401k at 55 without a penalty if you’re retired at 55 … 591/2 if you’re still working
Interesting. I didn’t know this. But it seems this applies only if you leave the job in or after the year you turn 55.
@@dukeofearlyretirement correct
Nice vid. I have a vanguard account and like a $100 in my money market acct a couple years ago. Now its like $112 or something. Are you saying this Settlement act is automatically earning whatever percent your settlement is set to? I was wondering why that number was going up. Lol Also, since it is a settlement fund you can always withdraw it if needed yeah? Meaning its not like taking money out of your retirement acts. Thanks! Great vid.
🔥 The FIRE movement is hot! And let’s face it, not being stupid is the fuel that keeps it self-sustaining. Keep it up. Great work. Love your content. 🕊️
Thanks 🔥
How do I properly add the information of combined options, like a put credit spread? whats the best way to add the cost of buy and sell of the diffeereent target pricee
when I add a PCS I am $5 away from the loss
Great video, I also prefer the extreme FIRE philosophies and they are what helped me the most, catapulting me to FIRE a couple of years ago. YMYL, ERE, and MMM still being my favorite and core principles that I follow. For the next generation, I hear people saying that they could never FIRE, but on the contrary they seem to need the extreme FIRE principles more than ever. Maximizing efficiency and cutting waste will be the way.
Great video mate