Much of this discussion orbits around the question: "How much is enough?". Two books profoundly shaped my outlook on life... Your Money of Your Life and the second is Cashing in on the American Dream, How to Retire at 35 by Paul Terhortz. I think Paul and his wife now live in Argentina - I cannot imagine the wealth of experience they have in FI and perpetual travel. One thing to ponder is that people considering retirement have had the table flipped over in the past 2 decades. My 2 chillrens (sic) both did masters and one is still in law skool (multiple countries and continents) as well as 4 int'l internships (UK, Peru, Costa Rica and Australia)... I grossly under-estimated the costs of 14 years of university (in multiple countries), but the govt insuring students loans was unknowable at the time. I also underestimated the exponential rise in medical insurance and medical costs. I also have to allow for gov't changes such as means testing of SS and Medicare as well as increasing taxes and declining quality of USA sickcare system. If you go back and reread YMOYL,, the authors kinda based their income on UST safe rate near 6% (I think). "Do I have enough" is probably not a question with a binary answer. I really enjoy my professional - as I age the opportunity cost of continuing to work increases - I am probably headed toward a hybrid retirement - I just do not feel like 100% retirement suits me. Thanks to J.D. Roth for the great insights.
I can't believe how few views and comments this video has. Paula, I just found and subscribed to your channel. I think you're a freakin amazing content provider and a super cool human being. The questions that you ask in this episode specifically are true life questions to the core that we all should be thinking about. Thank you for the work you do and the thoughts you provoke. If everyone thought rationally how you and JD think it would be such a better place.
I think the reason is that RUclips isn't her primary audience. She uses other podcast services and just posts them on RUclips. Popular RUclipsrs can spend a lot of time self promoting. They view similar RUclips channels and comment like crazy in order to entice the readers to click on their head and discover their content. They habitually surf the comments to make sure you know that they are listening and are interested in your input. They Also reach out to popular RUclipsrs to get their name out via colaborations. Paula does interview other podcasters so same tactic just on another media vehicle.
Because they don’t give you a good map of what they actually did to be financially free just boring podcasts I’m so disappointed look at me try to get here.
People into the FIRE and FI movement eat this stuff up. Paula gives real estate advice and also has investing experts on the show. People working on FI generally appear to be more intentional and intellectually involved than the typical Dave Ramsay audience. Baby steps can be violated, credit cards and debt can be used - with mindful vigilance. Cookie cutter beans and rice advice doesn't cut it. Buying expensive, high expense mutual funds based on the fallacy of past returns- laughable. This audience already has a high savings rate or has become very motivated to increase it. You do this by spending less, earning more and investing the difference. And while minimalism is embraced by many, it's not required as long as you can support a high savings rate. A.KA. = You can afford anything but not everything.
Much of this discussion orbits around the question: "How much is enough?". Two books profoundly shaped my outlook on life... Your Money of Your Life and the second is Cashing in on the American Dream, How to Retire at 35 by Paul Terhortz. I think Paul and his wife now live in Argentina - I cannot imagine the wealth of experience they have in FI and perpetual travel.
One thing to ponder is that people considering retirement have had the table flipped over in the past 2 decades. My 2 chillrens (sic) both did masters and one is still in law skool (multiple countries and continents) as well as 4 int'l internships (UK, Peru, Costa Rica and Australia)... I grossly under-estimated the costs of 14 years of university (in multiple countries), but the govt insuring students loans was unknowable at the time. I also underestimated the exponential rise in medical insurance and medical costs. I also have to allow for gov't changes such as means testing of SS and Medicare as well as increasing taxes and declining quality of USA sickcare system. If you go back and reread YMOYL,, the authors kinda based their income on UST safe rate near 6% (I think). "Do I have enough" is probably not a question with a binary answer.
I really enjoy my professional - as I age the opportunity cost of continuing to work increases - I am probably headed toward a hybrid retirement - I just do not feel like 100% retirement suits me.
Thanks to J.D. Roth for the great insights.
I can't believe how few views and comments this video has. Paula, I just found and subscribed to your channel. I think you're a freakin amazing content provider and a super cool human being. The questions that you ask in this episode specifically are true life questions to the core that we all should be thinking about. Thank you for the work you do and the thoughts you provoke. If everyone thought rationally how you and JD think it would be such a better place.
I think the reason is that RUclips isn't her primary audience. She uses other podcast services and just posts them on RUclips.
Popular RUclipsrs can spend a lot of time self promoting. They view similar RUclips channels and comment like crazy in order to entice the readers to click on their head and discover their content. They habitually surf the comments to make sure you know that they are listening and are interested in your input. They Also reach out to popular RUclipsrs to get their name out via colaborations.
Paula does interview other podcasters so same tactic just on another media vehicle.
Enjoyed the episode. Thanks for the great job with your podcast. It's always entertaining and informative.
another great program
Because they don’t give you a good map of what they actually did to be financially free just boring podcasts I’m so disappointed look at me try to get here.
People into the FIRE and FI movement eat this stuff up.
Paula gives real estate advice and also has investing experts on the show.
People working on FI generally appear to be more intentional and intellectually involved than the typical Dave Ramsay audience.
Baby steps can be violated, credit cards and debt can be used - with mindful vigilance.
Cookie cutter beans and rice advice doesn't cut it. Buying expensive, high expense mutual funds based on the fallacy of past returns- laughable. This audience already has a high savings rate or has become very motivated to increase it.
You do this by spending less, earning more and investing the difference. And while minimalism is embraced by many, it's not required as long as you can support a high savings rate. A.KA. = You can afford anything but not everything.