Read the Richest Man in Babylon fourty years ago, but the game changer was "Your money or your life" which I believe got the FIRE movement going. I've got a hard copy and Audible version of both for the occasional but of inspiration.
The more stuff you own, the more it owns you. The trick to retirement is to retire TO something, not from something. I retired in my early 50's because I knew from a young age, I did not want to work until I died. Many things change when you retire, social circles, your identity, your health and your priorities. Have plan work the plan. I see people retire with small amounts of $$ and massive amounts of $$$ and it doesn't matter in the end, no one gets out alive. Time in our most precious resource, do not squander it.
I'm 67, in excellent health, I have $250,000 in savings, NO debt and $2,200 Social Security, so with my interest income I'll have about $3,300 total monthly income. I'll be "retiring" in Siem Reap, Cambodia 4/2025, so I'll have plenty of money to live very well, and I'll be able to save about $20,000 every year.
@@CDMaclintock Sounds like a great plan. I’m looking at locations in SE Asia as well as Europe and it will just take some negotiations with my wife to agree on the place
Money May not buy true spiritual happiness but it damn well brings joy and contentment, poverty brings lots misery and difficulty, I rather have joy and contentment through money than have no money and misery and difficulty
The median net worth of a 65 year old is about 400k. So that's a pretty safe withdrawal rate of 1500 or so for the rest of life in 60/40 portfolio (or dividend stocks, etc) Plus SS, another 2500 a month. 4k a month is like 8-16k in many desirable places. Numbeo is a great resource for purchasing power of dollars. Brazil and Thailand right now are about 4-1. That's enough for dynamic spending, so if the market dumps you can get back on the frivolous spending. I think we are going to start seeing massive migrations at some point. We don't even have a country anymore, merely an economic zone and now the youth are getting massively screwed over because they need to compete with the world for jobs when they have to pay insane money just to get trained in anything worthwhile or luck out into a union. Of course the big guy is talking about devaluing the dollar to increase our manufacturing base, so we shall see. The global financial situation reeks of 08 so it's hard to tell what even the near future will look like
I'm 52 and scared the carp out of me to retire early right now. I suppose I can do it by closely watch my budget living over sea but.....the expect of unexpected uncertain future that you can't see prevented me of doing it
I had to laugh a little. “Stop spending money!” But…”Buy this book.” 😄 I agree with you…stop buying stuff, live a minimalist lifestyle! I wish I had these wisdoms long ago…and now I’m almost 70 but at least I’ve started and will move to the Philippines in June fairly well set and continue the minimalist lifestyle.
Richest Man in Babylon was the book recommended to me my wealthy ( than me) people. It set me up for stability and a greater wealth than I was going have. I was just termed from my 22.5 year job at 66. I am ok because of following that book. As a lifetime member I am reviewing the material in your course as now I am free to act.
Brilliant. I love how you not only talk about a minimum monthly income in retirement, but also a minimum safety net one must have set aside. There are all too many people/expats who seem to get stuck abroad when an emergency happens, and don’t have the ability to come back to the US and the social safety nets and medical care available here, Or, they experience a crisis abroad, and don’t even have enough money to address that crisis while overseas. This even happens quite frequently in very affordable countries, such as the Philippines. It’s important to realize, that whether we retire in the US or abroad, many of us have elevated needs for money and medical care, in the final 2 to 15 years of our lives.
OK... I just have to comment. 0.25 The Schwinn Sting-Ray was My ride back in 1975 Mine was PURPLE, with the sparkly seat, and the high-rise padded back rest (also Purple!). Man. I haven't thought about that bike in years. :)
Dan, I've been watching you for years. I've been going to Thailand every six months or so for three years. I'd like to try the Philippines. Chatgbc told me to try Duain. I'm try to rewatch your vids. Have you been there?
Another great and informative video. An inquiry regarding travel insurance. I was recently quoted $2350 for a yearly plan. Is that really the going rate? What resources are out there for further research? Thanks, Dan. I aspire to have your lifestyle.
Dan, if someone wanted to retire without SS or a side job, how much of a nest egg would you suggest to live off the dividends for a fairly modest life in SE Asia?
As discussed in the video, once you know your cost of liiving from your exploratory visit, and then you pick the investments creating the cash flow, the number will pop right out of your research. But I would add some to compensate for inflation.
@@VagabondAwake I get a 8%-10% yield from my IRA. I understand it would be best to do an exploratory visit, but I was just wondering if you had a rough estimate or ballpark range since you've talked to so many people. I"ve watched a bunch of your videos, and I understand everyone is different. A rough estimate would help though.
I'm fortunate i had a father who led by example. he was extremely frugal with himself but allowed the rest of his family to spend. we came to America with $10,000 and he eventually made it through hard and smart work and saving. I love "the richest man in Babylon." if I recall correctly, there are just 2 main lessons: 1. save at 10% of your income 2. find an expert to invest your money (or learn to invest correctly). that book and "rich dad, poor dad" (an asset is something that generates income/cash flow) helped me to quit my job in my early 40s. while I'm not rich by any means, I have my free time which is invaluable.
Nobody needs an advisor anymore. Ask ChatGPT or copy the best traders automatically thru one of the platforms and be done. More importantly, have a plan and follow thru.
Love your content, another great video! Also, you’re a lucky man given that lady friend of yours, does she have a sister that would like a C level US boyfriend?
Great video! I will retire in 5 years need to get on more child on her own. I love driving my 10 year old car that is paid for and investing my normal car payment for retirement. I’m going to do what I guess you can call it semi retirement since I am a teacher and love ❤️ teaching. I just want to teach in my retirement and enjoy life in another country. However at the same time have enough money to be retired and financially free. This is your best video I have watched from you in years. Great job your videos help keep me inspired! Andreas
I never had a car payment and my longest mortgage was 13 months my last mortgage was 1997. Then I helped 4 children through college. My mistake was I started late played around too long.
Lol the dumbest guy I knew in the Navy bought a Porsche with all his deployment money....wrecked it around a corner in 3 months. Spent 10k and if I remember correctly it had like 200k miles on it.
That water looks awesome dude. What happens when you get really old and you need help someone changing your underwear? Better increase that reserve and cashflow I guess. :)
Books are all very well - BUT I can't believe Dan didn't recommend meditation as a way to be able to retire..................... it's the sub conscious that runs your life - not the conscious mind.
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Read the Richest Man in Babylon fourty years ago, but the game changer was "Your money or your life" which I believe got the FIRE movement going. I've got a hard copy and Audible version of both for the occasional but of inspiration.
The more stuff you own, the more it owns you. The trick to retirement is to retire TO something, not from something. I retired in my early 50's because I knew from a young age, I did not want to work until I died. Many things change when you retire, social circles, your identity, your health and your priorities. Have plan work the plan. I see people retire with small amounts of $$ and massive amounts of $$$ and it doesn't matter in the end, no one gets out alive. Time in our most precious resource, do not squander it.
I'm 67, in excellent health, I have $250,000 in savings, NO debt and $2,200 Social Security, so with my interest income I'll have about $3,300 total monthly
income. I'll be "retiring" in Siem Reap, Cambodia 4/2025, so I'll have plenty of money to live very well, and I'll be able to save about $20,000 every year.
@@CDMaclintock good luck!
If you’ve got a standard Social Security payment of $2kish, you’ll be fine!
I hope you have a wonderful retirement there. Be safe.
Congratulations from your brother from the north 🇨🇦
@@CDMaclintock Sounds like a great plan. I’m looking at locations in SE Asia as well as Europe and it will just take some negotiations with my wife to agree on the place
Absolutely love your story and the principles you used to retire early.
Thx for another high quality video. I love seeing the wonderful smiles on your faces as you both enjoy your well planned early retirement journey.
Thanks so much! 😊
Incredible but I am asking myself this question since a year... This video came out to light my path
I have enough for low cost countries, i'm early retired since 2011 in Spain, Valencia, i was 35 years old then, now 49 years old.
WOW! Congratulations!
@@Lisa-oy9ts Thank you, i'm grateful for having the opportunity to live that life 🤗
If you are happy, I am happy
Got the Audio book of Richest Man in Babylon!!! I hope I'm not to late!!! LOL Thanks for another great video Dan!
Money doesn't buy happiness, it does attract endless deceivers and users. Life is short, enjoy what makes you happy.
Sure does make life a whole lots easier
Very well said!
cars, and they cost money
Money May not buy true spiritual happiness but it damn well brings joy and contentment, poverty brings lots misery and difficulty, I rather have joy and contentment through money than have no money and misery and difficulty
@@warrenwade8531 Poverty doesn't make me happy.
Cheers 📍Medellin Colombia 🇨🇴 #NewRich! 🛩️💃🏾💃🏾🕺🏾
Another great video Dan
As always 😊
Great information. Looking forward to reading the book myself.
Thanks for watching!
Thank you for all the valuable advice you give.
So nice of you
The median net worth of a 65 year old is about 400k. So that's a pretty safe withdrawal rate of 1500 or so for the rest of life in 60/40 portfolio (or dividend stocks, etc) Plus SS, another 2500 a month. 4k a month is like 8-16k in many desirable places. Numbeo is a great resource for purchasing power of dollars. Brazil and Thailand right now are about 4-1.
That's enough for dynamic spending, so if the market dumps you can get back on the frivolous spending.
I think we are going to start seeing massive migrations at some point. We don't even have a country anymore, merely an economic zone and now the youth are getting massively screwed over because they need to compete with the world for jobs when they have to pay insane money just to get trained in anything worthwhile or luck out into a union. Of course the big guy is talking about devaluing the dollar to increase our manufacturing base, so we shall see. The global financial situation reeks of 08 so it's hard to tell what even the near future will look like
Thanks for your thoughts
Dan, I bought a Schwinn Varsity bike in 1962. I do agree with you prognosis:) Happy New Year, you guys. Out.
Awesome, Dan. Thank you
Not a lot of people are talking about your plan. But it should be your only plan. Good job. I run my life the same way
I'm 52 and scared the carp out of me to retire early right now. I suppose I can do it by closely watch my budget living over sea but.....the expect of unexpected uncertain future that you can't see prevented me of doing it
Ok
I had to laugh a little. “Stop spending money!” But…”Buy this book.” 😄 I agree with you…stop buying stuff, live a minimalist lifestyle! I wish I had these wisdoms long ago…and now I’m almost 70 but at least I’ve started and will move to the Philippines in June fairly well set and continue the minimalist lifestyle.
ive seen the torrent, that means the book is free.
@@seamike55 good luck
The book is free
Great video brother
Thank you!
You’re welcome!
American society perpetuates buying the latest and greatest gadget or trend
you are so spot on!!
Thanks Dan.
Richest Man in Babylon was the book recommended to me my wealthy ( than me) people. It set me up for stability and a greater wealth than I was going have. I was just termed from my 22.5 year job at 66. I am ok because of following that book. As a lifetime member I am reviewing the material in your course as now I am free to act.
Thanks for sharing your story!
Great message. I got to where I am underspending. Guess I got that from grandparents example. Do you still use BRK as your investment? Thank you 🙏🏼
Brilliant. I love how you not only talk about a minimum monthly income in retirement, but also a minimum safety net one must have set aside.
There are all too many people/expats who seem to get stuck abroad when an emergency happens, and don’t have the ability to come back to the US and the social safety nets and medical care available here,
Or, they experience a crisis abroad, and don’t even have enough money to address that crisis while overseas.
This even happens quite frequently in very affordable countries, such as the Philippines.
It’s important to realize, that whether we retire in the US or abroad, many of us have elevated needs for money and medical care, in the final 2 to 15 years of our lives.
OK... I just have to comment. 0.25 The Schwinn Sting-Ray was My ride back in 1975 Mine was PURPLE, with the sparkly seat, and the high-rise padded back rest (also Purple!). Man. I haven't thought about that bike in years. :)
Dan, I've been watching you for years. I've been going to Thailand every six months or so for three years. I'd like to try the Philippines. Chatgbc told me to try Duain. I'm try to rewatch your vids. Have you been there?
Yes. Great snorkeling right off beach
Another great and informative video. An inquiry regarding travel insurance. I was recently quoted $2350 for a yearly plan. Is that really the going rate? What resources are out there for further research? Thanks, Dan. I aspire to have your lifestyle.
Great advice. Also, step 5, invest
Happy New year
Thats my banana seat stingray, I bought it for $5 55 years ago.
Dan, if someone wanted to retire without SS or a side job, how much of a nest egg would you suggest to live off the dividends for a fairly modest life in SE Asia?
@@patthecat1800 I would recommend at least $2k/month to be comfortable, so you’d want around $600k in investible assets.
As discussed in the video, once you know your cost of liiving from your exploratory visit, and then you pick the investments creating the cash flow, the number will pop right out of your research. But I would add some to compensate for inflation.
@@VagabondAwake I get a 8%-10% yield from my IRA. I understand it would be best to do an exploratory visit, but I was just wondering if you had a rough estimate or ballpark range since you've talked to so many people. I"ve watched a bunch of your videos, and I understand everyone is different. A rough estimate would help though.
I'm fortunate i had a father who led by example. he was extremely frugal with himself but allowed the rest of his family to spend. we came to America with $10,000 and he eventually made it through hard and smart work and saving.
I love "the richest man in Babylon." if I recall correctly, there are just 2 main lessons:
1. save at 10% of your income
2. find an expert to invest your money (or learn to invest correctly).
that book and "rich dad, poor dad" (an asset is something that generates income/cash flow) helped me to quit my job in my early 40s. while I'm not rich by any means, I have my free time which is invaluable.
Nobody needs an advisor anymore. Ask ChatGPT or copy the best traders automatically thru one of the platforms and be done. More importantly, have a plan and follow thru.
Love your content, another great video! Also, you’re a lucky man given that lady friend of yours, does she have a sister that would like a C level US boyfriend?
3 brothers.
Were a lot of those photos and videos Guatemala?
Some were, yes
Great video! I will retire in 5 years need to get on more child on her own. I love driving my 10 year old car that is paid for and investing my normal car payment for retirement. I’m going to do what I guess you can call it semi retirement since I am a teacher and love ❤️ teaching. I just want to teach in my retirement and enjoy life in another country. However at the same time have enough money to be retired and financially free. This is your best video I have watched from you in years. Great job your videos help keep me inspired! Andreas
I never had a car payment and my longest mortgage was 13 months my last mortgage was 1997. Then I helped 4 children through college. My mistake was I started late played around too long.
Qiang is amazing.
Dan is one lucky guy!!
Wah muda benau bini kau, anyway its a good info, tailor your own and follow it
Thanks! 😊
Dan where you at 6:30 ?
Lake Atitlan guatemala
The promotional code for membership is not valid, tried several times. Please help!
I just fixed it. Try again please.
Lol the dumbest guy I knew in the Navy bought a Porsche with all his deployment money....wrecked it around a corner in 3 months. Spent 10k and if I remember correctly it had like 200k miles on it.
Who does the cooking in your tribe? :)
We both do
That water looks awesome dude. What happens when you get really old and you need help someone changing your underwear? Better increase that reserve and cashflow I guess. :)
Google vagabond buddha assisted living
@@VagabondAwake thanks dude!
I sitll would like to own a nice motorcycle and a sailing boat lol
I could live off borrowed money for years
Borrowing against assets reduces taxes temporarily.
Have borrowed 30 mil
Books are all very well - BUT I can't believe Dan didn't recommend meditation as a way to be able to retire..................... it's the sub conscious that runs your life - not the conscious mind.
Jesus Christ! I thought I was going to hear how much it cost to retire overseas?? Don't care about your childhood bicycle. Goodbye.
Don’t let the door hit you on your way out
I got that he wants to sell me a course.... total waste of time :)
@@nala3038 They Really Missed the Point!
@@acpats Your loss as Dan and Qiang are really great and honest people. You have no idea how much time and info you will lose. :(