This is my second time listening to this episode, and I am loving and learning from it all over again. Clark Howard is such an intelligent, thoughtful, and humble person.
Totally agree with you - Clark is tge best out there who explains in easy to understand terms for tge average working man. Thank you Clark for your invaluable contribution to mankind; we all are very appreciative and grateful. 👍🏼🙏🏼🕊💟
Reflection #3: I totally appreciate (& practise it myself) Clark's point that frugality can be intentional and for the benefit of a far greater purpose: investing more into our future in order to give more, to share more, and to serve more people.
17 years ago I lost my high-paying job and was up to my eyeballs in credit card debt at a time when the economy was in recession and jobs in my field had evaporated. Credit regulations were different then and credit card companies were pulling all sorts of deceptive and predatory shit they aren't allowed to get away with today. With my life in chaos for the better part of a year I was late on credit card payments and that triggered my interest rates to go from around 12% to 35% and my principal balances began growing even as I paid the minimum payments or slightly more. The banks had me in their talons and I had no idea what to do until I started listening to Clark on the radio and followed his advice to contact a reputable credit counseling service who put me on a debt management program. It took 4 years to pay the debt off and I'd probably still be paying on it now if it weren't for Clark. He's an inspiration and a hero.
Love Clark Howard. He is big here in Atlanta for many years. He is exactly right about why many people decided not to be financially vulnerable. I was a teenager and young adult during the recession and it shaper my viewer. I also appreciated suze Orman realist wakeup call about money at an older age and counting the cost.
Paula, thank you for introducing Clark Howard, a wonderful discovery to me! Living outside the U.S.A., I was not familiar with him, but now I am happy to know of another formidable exemplar of (1) frugal living, (2) purposeful living, & (3) early retirement in the service of other people. Excited to meet someone who predates one of my favourite examples, Dave Ramsey.
he has very strong points, I am Asia, PP here do save money but still for buying their big house with cash and buying or upgrading unnecessary staffs so they still can not escape the rat race. The notion of FIRE is still very new here, I am very happy to know this Fire movement. I can not wait until the day I can do whatever I want Whatever I Love
Love this so much! Thank you!! FIRE rocks! I feel like I have control of my $$$ and I decided to spend wisely. Budget is a key. we are a family of 3 that spend 2500 a month total. i love that. I can survive in 30K a year but i make over 100K. I didnt know but i always saved extra for rainy days. Once I save 40K cash from my only job. so i bought my first house, with a pool beautiful! i sold it because it gained equity...a house with fire is just an investment, i have 24 credit cards (yes i count them) i only use the new ones with miles and offers, and pay it off right away, my credit score 750, and 800. I dont know if i wold be able to FIRE soon, but i sure will die trying!
Reflection #2: Clark acknowledges in this discussion one very important point behind Suze Orman's objections to some notions of early retirement: most people vastly underestimate the costs and the risks of life-events. Many among us are not nearly as well prepared, insured, and emotionally strong as they need to be or as they think, in good times, that they are.
I love your intro... it is always good to hear that making choices is a trade off and to get what we want we have to first choose it and then let go of what is in the way of it. Thank you for all you teach us here! 💕
Thanks Paula! I'm so glad you were able to follow Suze with Clark to give an alternate viewpoint. I love FIRE, and while I am older, my RE will still be early compared to the norm. Been working on it without having a label for it. I've been following Clark since forever and he was doing it before it became a thing. Turned out Fat-FIRE.
After hearing the Suze show, (I was a fairly new listener, but thankfully that wasn't my first episode), it was depressing to think that to the supposed matriarch of finance, 55 even is early retirement and unreasonable nay impossible and irresponsible or even immoral somehow. What is she even providing to the public if her financial advice is to work until you die. I really get a lot out of as Chris Hogan calls dreaming in HD about my retirement. I resonate with Clark's message because I lost my house in 2009. Even in our good economy, I see too many white haired ladies working minimum wage jobs. I just want to have a meager retirement that I saved up enough for to be able to have a modest living space, a cat, transportation, and the ability to survive without taking a hard job like working at fast food or a large retail chain--if above and beyond that if I can travel somewhere special every couple years. It is radical to be frugal and retire to a peaceful minimalist lifestyle that I enjoy in my senior years after working hard from teenage to middle age years?
She didn't say it was irresponsible. She just said that you need a lot of money to protect yourself from health care, debt, home insurance, taxes etc. If you have $3 million dollars in investment funds and you're getting dividends and payments, okay you can comfortably retire, but if you have less than that, you are running the risk of losing everything and ending up homeless with no social security (if you haven't worked or contributed for long enough. That's how it is in America. However, many middle class and lower class, would be better served working a job that has a pension and collecting a guaranteed $50,000 a year check for life, rather than saving up enough money to be able to live off the interest rates. I know lots of people who work jobs where they automatically retire at 55 and they get a pension plus social security for life. Why isn't that offered as a viable option for people who want to retire early? Or move to Australia or Norway where you get automatic pension and welfare and you don't have to work? I think Suze was talking more about the realities that Americans have to confront. If you live in Norway, you could retire at 18 and get health care, welfare at 18 and a pension at 65. You're in America. you gotta get the cash first, before you can retire.
Great Episode, I much prefer this message to, shall I say.... "Others". I made this same comment on one of the Suzi Orman episodes... I think of FIRE really as FILO... Financial Independence, Life Options. The majority of FIRE aficionados go on to work their passions. Richard.
Yeah, but if "millionaire is the new Middle Class" as CNBC proclaims, then you're gonna need the $3-$5 million Suze recommends. Once you have that in investments, you don't have to worry and can just live off dividends.
Reflection #4: Kudos to Clark's will and last wishes! How wonderful that, even in death, our body can be given to those who need transplants! Another excellent reason for each of us to eat wisely, to life wisely, in order to stay healthy for a lifetime . . . which can be well over 100 years of active, happy, engaged living, as many modern super-centenarians have proved.
Reflection #1: So far, he seems to be the closest in age to have credibly challenged some of what Suze Orman said about the F.I.R.E. movement. Of course, given her wealth and age and wisdom (as with any other successful person who is older than most of us are), even if we initially disagree with someone or something, we should seek first of all to understand why the person has said or written such and such. E.g., personal experiences, observations, statistics, trends in the economy, traditional beliefs or practices, widespread bad financial habits/diets.
Yeah, I can see that. On the other hand, if you're giving out advice to people, you should be aware of your audience. If your advice is more applicable to yourself but not to them, it's bad advice.
Just avoid processed foods, especially grains/carbs and "vegetable" oils, keep sugar in the diet to a minimum, don't smoke and don't drink alcohol excessively and that should do the trick. High Quality meats, fish and eggs are healthy foods and there's no need to avoid them for health purposes.
Clark is great! That Suzy Orman interview was painful, she lives on another planet.
This is my second time listening to this episode, and I am loving and learning from it all over again. Clark Howard is such an intelligent, thoughtful, and humble person.
Totally agree with you - Clark is tge best out there who explains in easy to understand terms for tge average working man. Thank you Clark for your invaluable contribution to mankind; we all are very appreciative and grateful. 👍🏼🙏🏼🕊💟
Reflection #3: I totally appreciate (& practise it myself) Clark's point that frugality can be intentional and for the benefit of a far greater purpose: investing more into our future in order to give more, to share more, and to serve more people.
17 years ago I lost my high-paying job and was up to my eyeballs in credit card debt at a time when the economy was in recession and jobs in my field had evaporated. Credit regulations were different then and credit card companies were pulling all sorts of deceptive and predatory shit they aren't allowed to get away with today. With my life in chaos for the better part of a year I was late on credit card payments and that triggered my interest rates to go from around 12% to 35% and my principal balances began growing even as I paid the minimum payments or slightly more. The banks had me in their talons and I had no idea what to do until I started listening to Clark on the radio and followed his advice to contact a reputable credit counseling service who put me on a debt management program. It took 4 years to pay the debt off and I'd probably still be paying on it now if it weren't for Clark. He's an inspiration and a hero.
Love Clark Howard. He is big here in Atlanta for many years. He is exactly right about why many people decided not to be financially vulnerable. I was a teenager and young adult during the recession and it shaper my viewer. I also appreciated suze Orman realist wakeup call about money at an older age and counting the cost.
Paula, thank you for introducing Clark Howard, a wonderful discovery to me! Living outside the U.S.A., I was not familiar with him, but now I am happy to know of another formidable exemplar of (1) frugal living, (2) purposeful living, & (3) early retirement in the service of other people. Excited to meet someone who predates one of my favourite examples, Dave Ramsey.
he has very strong points, I am Asia, PP here do save money but still for buying their big house with cash and buying or upgrading unnecessary staffs so they still can not escape the rat race. The notion of FIRE is still very new here, I am very happy to know this Fire movement. I can not wait until the day I can do whatever I want Whatever I Love
Love this so much! Thank you!! FIRE rocks! I feel like I have control of my $$$ and I decided to spend wisely. Budget is a key. we are a family of 3 that spend 2500 a month total. i love that. I can survive in 30K a year but i make over 100K. I didnt know but i always saved extra for rainy days. Once I save 40K cash from my only job. so i bought my first house, with a pool beautiful! i sold it because it gained equity...a house with fire is just an investment, i have 24 credit cards (yes i count them) i only use the new ones with miles and offers, and pay it off right away, my credit score 750, and 800. I dont know if i wold be able to FIRE soon, but i sure will die trying!
Great interview! Clark Howard always comes across as kind and down to earth.
Reflection #2: Clark acknowledges in this discussion one very important point behind Suze Orman's objections to some notions of early retirement: most people vastly underestimate the costs and the risks of life-events. Many among us are not nearly as well prepared, insured, and emotionally strong as they need to be or as they think, in good times, that they are.
Great interview.
Yes, Suze’s rant was painful. Thanks Paula for your platform.
I love your intro... it is always good to hear that making choices is a trade off and to get what we want we have to first choose it and then let go of what is in the way of it. Thank you for all you teach us here! 💕
Thanks Paula! I'm so glad you were able to follow Suze with Clark to give an alternate viewpoint. I love FIRE, and while I am older, my RE will still be early compared to the norm. Been working on it without having a label for it. I've been following Clark since forever and he was doing it before it became a thing. Turned out Fat-FIRE.
After hearing the Suze show, (I was a fairly new listener, but thankfully that wasn't my first episode), it was depressing to think that to the supposed matriarch of finance, 55 even is early retirement and unreasonable nay impossible and irresponsible or even immoral somehow. What is she even providing to the public if her financial advice is to work until you die. I really get a lot out of as Chris Hogan calls dreaming in HD about my retirement. I resonate with Clark's message because I lost my house in 2009. Even in our good economy, I see too many white haired ladies working minimum wage jobs. I just want to have a meager retirement that I saved up enough for to be able to have a modest living space, a cat, transportation, and the ability to survive without taking a hard job like working at fast food or a large retail chain--if above and beyond that if I can travel somewhere special every couple years. It is radical to be frugal and retire to a peaceful minimalist lifestyle that I enjoy in my senior years after working hard from teenage to middle age years?
She didn't say it was irresponsible. She just said that you need a lot of money to protect yourself from health care, debt, home insurance, taxes etc. If you have $3 million dollars in investment funds and you're getting dividends and payments, okay you can comfortably retire, but if you have less than that, you are running the risk of losing everything and ending up homeless with no social security (if you haven't worked or contributed for long enough. That's how it is in America.
However, many middle class and lower class, would be better served working a job that has a pension and collecting a guaranteed $50,000 a year check for life, rather than saving up enough money to be able to live off the interest rates.
I know lots of people who work jobs where they automatically retire at 55 and they get a pension plus social security for life. Why isn't that offered as a viable option for people who want to retire early?
Or move to Australia or Norway where you get automatic pension and welfare and you don't have to work? I think Suze was talking more about the realities that Americans have to confront. If you live in Norway, you could retire at 18 and get health care, welfare at 18 and a pension at 65. You're in America. you gotta get the cash first, before you can retire.
Great Episode, I much prefer this message to, shall I say.... "Others".
I made this same comment on one of the Suzi Orman episodes... I think of FIRE really as FILO... Financial Independence, Life Options. The majority of FIRE aficionados go on to work their passions. Richard.
Yeah, but if "millionaire is the new Middle Class" as CNBC proclaims, then you're gonna need the $3-$5 million Suze recommends. Once you have that in investments, you don't have to worry and can just live off dividends.
@@cartonet8186 3m isn't too much of a stretch now-a-days, so I agree with you.
Wonderful episode Paula..keep them coming..From East Africa here my country is TANZANIA
Amazing episode, thank you Paula!
Clark is such a great inspiration. I hope I get to run into him in coach one day! Thank you Paula for another wonderful interview.
I’ll be on your show VERY SOON! Manifesting my mini retirement next year 💚
Such a great episode! Well done!
I really appreciate this podcast. It was great and inspiring.
Reflection #4: Kudos to Clark's will and last wishes! How wonderful that, even in death, our body can be given to those who need transplants! Another excellent reason for each of us to eat wisely, to life wisely, in order to stay healthy for a lifetime . . . which can be well over 100 years of active, happy, engaged living, as many modern super-centenarians have proved.
This was an awesome interview! I learned a lot!
Reflection #1: So far, he seems to be the closest in age to have credibly challenged some of what Suze Orman said about the F.I.R.E. movement. Of course, given her wealth and age and wisdom (as with any other successful person who is older than most of us are), even if we initially disagree with someone or something, we should seek first of all to understand why the person has said or written such and such. E.g., personal experiences, observations, statistics, trends in the economy, traditional beliefs or practices, widespread bad financial habits/diets.
Yeah, I can see that. On the other hand, if you're giving out advice to people, you should be aware of your audience. If your advice is more applicable to yourself but not to them, it's bad advice.
These podcasts are great
starts at 3:05
awesome show!!!!!!
Thankfully I found this after watching that nightmare with Suze.
What is the Suze interview you're speaking of and that people are commenting on?
Great Episode, Paula!!
I think I won’t have my children be the one to be my representative. I don’t think they will follow it, or if they do, probably feel conflicted.
55 year old retired government worker receiving a $250,000 pension plus extra benefits for life.
Go whole food vegan and you will side step most of the health issues the masses are having in this country.
Just avoid processed foods, especially grains/carbs and "vegetable" oils, keep sugar in the diet to a minimum, don't smoke and don't drink alcohol excessively and that should do the trick. High Quality meats, fish and eggs are healthy foods and there's no need to avoid them for health purposes.
Keto diet is best, I’ll eat extra eggs and bacon in your honor.
I really appreciate this podcast. It was great and inspiring.