How To Retire ASAP (starting from $0 or wherever you are)

[@johnmccourt1000]

I retired yesterday 😊

[@HD-mv2qh]

Congratulations!

[@hogroamer260]

Two reasons to go to church. It's Easter, and to thank God!

[@milosblagojevicc]

Good for you!

[@antjuju9116]

Congrats John. I'm on day 2 of retirement and it feels great.

[@donniesmith8779]

WAY TO GO... CONGRATULATIONS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I can retire but still chose to work a little longer... Good Luck to you, and stay healthy..

[@antjuju9116]

I retired on Friday at 52 yoa. The notion to have to work until my late 60's made no sense to me. My advice would be to start saving early in your 401k, 457's or other retirement accounts. When I began my career, I struggled to put $15 every two weeks into my 457, but as I started making more money, I contributed more as I received promotions and raises. Compound interest and time is an amazing thing. I look back and am so thankful I saved. I am still young and healthy and I'm able to physically do all things I want to do. Becoming a millionaire isn't hard as long as your committed.

[@djmorris5754]

Well done! And congratulations! What was your savings rate & income level throughout your career??

[@antjuju9116]

I started at $25k and ended at $109K over 25 years. I probably averaged 15% but many years did 22% in my 457.

[@djmorris5754]

@@antjuju9116 awesome rate!! How much do you think is enough to retire at 52? Thats my goal as well, and I’m currently saying 13% and looking to increase! Luckily had started when I was 23, currently 32.

[@Will67267]

I retired at 55 in the Philippines with $400k and a $1500 a month pension. My monthly budget is $2500 a month and live comfortably. If I stayed in San Francisco, it would have been impossible. Best decision for me was to move to another country.

[@DavidHicks-m9y]

Up yours!!

[@tmusa2002]

Thanks for sharing. Do you have any language barriers there? Do you have family in the US that you visit or they visit you?

[@jameschaves5723]

I think that’s wonderful but I could never be away from my special needs son!!

[@cyclops9125]

Do u eat pagpag?

[@randysalerno6274]

​@@cyclops9125not with his budget...

[@DenLD]

If you can live in a less expensive country and work remote for your US employer, you can bank a lot of money for retirement very quickly. I’m an expat and think it was the best decision I ever made. Lots of countries have reasonable requirements for residency. Big world, lots of options.

[@Junnie94112]

where exactly please?

[@bmiles4131]

Were you able to take your cats?

[@robertreynard2916]

@@bmiles4131😂

[@KaioshinAemi]

How about living in a 2 bedroom house outside the city with 5 acre of property. I”m using a solar power and a well for my water. I grow my own food. I have so much of vegetables and fruits to eat. I have many chickens for eggs. I buy few meat from the supermarket. I saved my own seeds yearly. I don’t need much in my life. My biggest spend is my property tax which is $980 a year. Living under $1,500 a month is manageable for me.

[@DanaLuvsNature]

This is excellent! Eating healthy probably means you feel better too

[@kylemcelroy8217]

I really appreciate your videos and consistent message of taking advantage of the healthy time we have left. It is amazing to me how much we let one fear dominate our planning, and that is,.what if i live to be 95+, but we don't let the flip side fear have nearly as much influence. I just retired at 53, sort of by choice, sort of forced, and rather than aggressively looking for a new job I'm embracing the opportunity to take advantage of the healthy years i have right now. I know my wife and I won't get these years back. I don't think we are being overly aggressive, but we are taking seriously the advice to prioritize the healthy years. This approach does require that we really accept our mortality and rather than fear that, or act in denial, looking at tje opportunities we have. Your channel is a good reminder to really look at what is important.

[@ivanvarykino8202]

Congrats on you and your wife being on the same page!

[@thomaschew2191]

There is a quote attributed to Charlie Munger (in the book University of Berkshire Hathaway) which to paraphrase is: "A lot of people talk about making big money they made in real estate. No one talks about the big money they lost in real estate". The point I think is investing in all of it's forms, has risk.

[@KH-vw9yl]

Fantastic work, thank you.

[@allannirvana]

Glad I'm 35. Wish I was 24. I should start investing for my kids.

[@bmiles4131]

Be glad you’re not learning this at 60.

[@kckuc310]

More and more I watch it’s helping to know I’m in good shape, love the videos. Actually have roths for my adult kids and brokerage accounts for grand kids they all don’t even know about. Hopefully live on in thoughts when I’m gone.❤

[@jeffb.2469]

That's great. Now take them on a cruise or awesome vacation. Build memories!

[@deportedsouls3165]

Beside the value of my house (which is payed off) I have one more year of saving before I have 250 k in separate savings, not including the pension valued around 500 k+. I have around 15 years left before the ordinary pension-age. But planning on going earlier. I live in a country where we have higher taxes than the states but health care is included. If I continue to save like today I can put away around 40 k/year.

[@donniesmith8779]

I talked with my 92 yr old mom today about I should have started earlier to save... I am ok but I think how much it could have been.

[@emoore99]

Savings v. Investment Returns is such a great chart in explaining the power of compounding!!

[@whorhaydelfuego7190]

I think getting to $100k can still be a big milestone because at that point the annual growth of 5-10% starts to actually look like a decent chunk of money. That can be a good motivational thing depending on what your salary and savings rates are like, the growth at that point could be higher than your own annual contributions.

[@lindahughes9207]

Yes, exactly, need to reach 100 k as fast as a person can as then your compound interest will start snowballing on your investments!!

[@hindofn2775]

Azul, can you do a show on the merits of Annuities on retirement planning?

[@Toomanydays]

Why is Azul still working?

[@kevincross1240]

I have the same question but I guess retirement takes many forms.

[@ksa-g869]

Thanks a lot Azul... now I got it

[@beatricefrask5230]

Merci Monsieur!!!!

[@ryanchinh1040]

I retired at 35 years old last year 2023. Retired as soon as possible there is no guarantee you going live until 65 years old. I work for one company for 12 years. Each year 1 to 3 died, they die at cancer, heart attack, sleeping died. They all died before 65 years old.

[@alwi3455]

how much you safed? I am 35 as well, but with wife and child looks bit difficult to retire that early ;-) I have already lost 3 relatives who died in their fifties and last week an uncle was diagnosed with a tumor at the age of 66...

[@ryanchinh1040]

@alwi3455 I am single and I don't have kid. Marriage and kid delay their retirement. I never count on social security because by the time I turn 65 years old social security won't be exist anymore.

[@ohmyhellx]

It's preposterous to say that FIRE participants sell their youth. There are SO many creative ways to travel, buy things frugally, and enjoy life fully (relationships and experiences don't cost money). Get creative! I lived on $10/day traveling in the 80's (about $30 in today's dollars). Be vocal about your goals. Most people can relate and will even admire and respect you for being deliberate and goal oriented. Enjoying the journey is possible in FIRE. Even if you try FIRE and fail, you're still learning and your trajectory will be solid. Another point, if you don't practice a mindset of the joy that can come from sacrifice early in life, then what are the odds you will be the 1% that can retire early and do so with a mindset of joy? You might just be part of the frustrated and miserable 99% wondering what happened to them.

[@hanwagu9967]

FIRE isn't a thing. There are a few people who capitalized on FIRE by monetizing and started to retire, but their platforming has become a job, so they aren't actually retired. They then rationalize and FIRE has become nontraditional retirement. There's a couple, the Kaderlis, who retired when they were 32years ago at 38yo with $500k at the time (over $1.1m today's dollars), but they eventually went back to work by helping others retire early. You have othes profiled in the Media like Shena and Leung who are only 9yrs in, though, but also saved $1m, but also monetize. Mr. Money Moustache who people attribute as FIRE pioneer also still works, given his platforms. No matter how much people want to claim FIRE, they almost all are still working in some fashion. Trying to redefine retirement, which has always meant no longer working, is putting lipstick on a pig. I also remember the shoestring travel days, too, which Frommer's started out in 1957 at Europe on $5/day, then went to $10/day, to $15/day, to $20/day to $50/day to from $85/day. I also remember $1/night rooftop bunk and eating cold sandwiches and not doing much except traveling for the sake of traveling. older and having money, i prefer my ensuite bathrooms, comfy beds, and eating freshly found truffles to the dorm, saggy beds, shared baths, and cold sandwiches.

[@zackdreamcast]

Started maxing out 401k and Roth in my early 30s. 10 yrs later I am set up to retire at 50yrs old and no longer needing to continuing to contribute to that asset. Used extra capital to buy 3 short term rentals that will generate 80-120k of cash flow not counting the debt pay down . So 1million in current retirement accounts, 1million in real estate equity net worth. I get $ out of my hands as quickly as possible as in reality paper money is worthless. Get an asset that pays you $. Stocks are ok but better is something that pays a dividend or something similar. Rental property is amazing and needs to be part of anyone’s plan that is serious about moving into the next tax bracket. Get multiple income streams. Get To a position where that w2 income buys you something that pays you cash flow. Get that cash flow equal to your expenses. And you’re done , financially free, independent, etc.

[@virg3923]

Can you make a video and talk about the numbers with couples? Do these numbers run true for two people.?

[@H..M..]

Great video, Azul. I think people today don’t realize how much money $100k was 30 years ago. I may have to put your picture on the fridge so my wife knows who to be mad at when she has to work for another 5-8 years after I retire. 😂

[@elainec5333]

What do you do if unexpected health issues really cut into finances and affect a person’s ability to work?

[@judiashley5818]

Well this is sad 65 and not quite at 250, 000 close but not there so not retiring. Started at 47 so it will take 19 or 20 years for me to hit 250,000 but at least it's something

[@lillianthuku2732]

The retairement age in public service in EAst Africa KEnyais 60yrs

[@Yieldthief]

Great video... anyone can make it with discipline... stop being a consumer and u will be rich .. simple... im soon to be 35 and retired.. saved hard and invested for 10 years... now i live in da nang like a king 👑 for only 1k a month... my etf portfolio pays enough in dividends to support me and any future inflation

[@Yieldthief]

That's 1k aud btw ❤❤ ..

[@jeffstanger88]

The assumption here is that the goal is to get to $1,000,000. That really doesn’t seem like enough, especially for an “early” retirement that therefore means more years in retirement that that principle must support.

[@jeffstanger88]

Hypothetically, if a married couple doing well making $200,000/year, saving 20% of that after taxes ($30,000 saved out of $150,000) take home… got to the starting line of $250,000 by early 40s, and gets to this magic $1,000,000 goal by, say, 55 years old… then they are somehow able to retire on a joint drawdown of $40,000 a year (based on the 4 Percent Rule - a 75% to 80% reduction in income from their working years!)? Not to mention, they probably were saving in a tax advantaged vehicle that would incur penalties to retire early/use prior to 59 1/2. How do they pay rent? Eat? Travel with their newfound freedom? Please help me understand.

[@hogroamer260]

The assumption is $1M in TODAY'S dollars. The market averages 10%+ returns. So his calculations are based on 7% returns, allowing 3% inflation. In reality, you'll be earning10%, but in effect losing 3% to inflation. I retired at 56, my 401k allowed penalty free withdrawls (rules apply). Being debt free, I live comfortably on $3k gross. Been retired 7 years, first four I was not debt free and lived on $6k gross. My retirement account is slightly higher than the original and still not taking S.S. I wasn't a super saver but my pay was very good so my S.S. will be near the max.

[@philipem1000]

@@jeffstanger88I assume they will have no debt and won't be paying a mortgage. They might downsize and cash in on some equity in the house as well.

[@jeffstanger88]

@@hogroamer260 Thanks. This is great and congratulations. Sounds like in your scenario, you have indeed been able to drastically reduce your burn rate in retirement from your working days -- from "my pay was very good" to "$3k gross." That's awesome and commendable. There is a school of thought and advice out there about "salary replacement" (presumably, one's current salary / 4% = OMG!) which to me seems like such an unattainable goal for most. Contribution limits in tax-advantaged accounts are too low, many people don't have employer matches or employer retirement plans at all, the current_salary part of the equation is presumably are going up over time which pushes the goal farther away, etc. etc. I think addressing the expense side is a much more reasonable approach.

[@jeffstanger88]

@@philipem1000 Perhaps. However, the earlier you retire, the less likely you are to have a paid off mortgage, unless you bought a house in your mid-twenties and never moved and never refinanced. To your point about downsizing... honestly, "downsizing" in the current rate environment would mean trading your 6.5% mortgage (unless you magically pay cash), which would probably result in *upsizing* your housing expenses for a lesser/smaller house. And if you are forced to sell your home to finance an early retirement, that to me is not a savings-driven early retirement plan which was the topic of the video.

[@Markrtsoon]

Again. It is not all about money!

[@tmusa2002]

But it mostly is, let’s be honest.

[@Markrtsoon]

Most of the people I am working with have multiple millions. They all continue to work instead of retiring. I know one person who came back from retirement to work and he has at least 5 millions.

[@strangeidea42]

Can you post a link to your github? I'd love to see it

[@darrylk808]

They teach you to get an education, find a job, build a career. You work hard for someone else for years to retire after 60. All that hard work for the company? How about you put all that hard work into building your wealth? I believe that any one with an average income can retire in 12 to 20 years. If you start at 30 you retire at 50. Start at 40 and retire at 55 (assumes you are making more than at 30). But if you work hard for someone else you'll work till 65. You don't have to reinvent the wheel, many people have done it with proven techniques that over time works. Go figure it out!

[@kaiman5307]

I don't have million dollars saved , but I living in Asia my hair cut cost USD 1.25

[@hogroamer260]

I live in the US, my daughter is a hair stylist but, I still cut my own hair.

[@miketheyunggod2534]

Stay away from financial advisors. They'll scam you out of your hard earned money.

[@nanniecath528]

We can do this in Australia - the luckiest free country on the earth.

[@poonekar]

The way you significantly reduce the risk of becoming a forced seller in real estate is by buying an investment property that is positive cash flowing on day one and locking in a 30 year fixed loan.

[@janitoronfire]

And buying below market

[@Tyler_Tops]

I’m 26, but I’m so over working. Investing as much as I can so I can retire as soon as possible

[@insaneminddesign]

40 and zero debt. $68k In a brokerage account, $80k in high yield savings account. I feel like nowhere I need to be. I wish I was at $250k at this stage of my life.

[@OurRetireEarlyJourney]

Zero debt is amazing! You should be proud of yourself. Start investing more in a basic S&P 500 fund and that money will grow… if you think you need more money, look for ways to cut spending and increase your savings rate. Best of luck!

[@insaneminddesign]

@@OurRetireEarlyJourney cutting spending is hard. I have a 3 and 10 years old kiddos… but I’m trying to find the balance of experiences and spending too much. Thank you for your support.

[@OurRetireEarlyJourney]

@@insaneminddesign we understand completely. We have 3 children ourselves and live in a very high cost area in the country. It’s all the little things, budget tracking is so critical. We love Empower Personal Portfolio Dashboard to easy track our transactions. We then can make informed decisions on what we can cut back on here and there. Best of luck to you!

[@judiashley5818]

Keep going you are doing better then you think and have time

[@jeffb.2469]

Congrats if you're making $200,000 a year. At 62, and at the peak of my highest earnings years, I'm not close to half of that amount. But I'm blessed - because I have enough.

[@joans5619]

I HAVE to work until 67. I need SS. I don’t have enough to retire without it. I saved late. Now I am racing the clock to get funds saved up.

[@janitoronfire]

Move to Thailand

[@tmusa2002]

If you have kids and grandkids, make sure to tell them your story and how easy it can be when you start saving young! Hang in there! I wish you good health and stress free work.

[@philipem1000]

You may be right but I ran the numbers and retiring at 62 vs 67 had a break even point (where the total money received from SS was the same) at age 79.5. In other words if I delayed retirement 5 years it would take another 12.5 before I got a single extra penny. The difference in checks is about 30% under the current system. So hone your budget and see whether you can't live on a little smaller check because you won't regret the extra retirement time. Oh and if you wait until 70 your break even becomes age 85.

[@janitoronfire]

@@philipem1000 did you factor the break even at zero percent or did you plug plug in interest you could have made by investing the money if you didn’t need it. Re run the calculations using 8 percent in an index fund. I bet the break even is way longer.

[@joans5619]

@@philipem1000 thank you, I’ll check that!

[@hanwagu9967]

to sum: save more, make more, spend less.

[@OurRetireEarlyJourney]

It is that simple. The hardest thing for people is to spend less, because they have no idea where their money goes.

[@hanwagu9967]

@@OurRetireEarlyJourney yeah, if it only were that simple, everyone would retire financially secure.

[@OurRetireEarlyJourney]

@@hanwagu9967 it’s definitely not easy. Takes dedication to track, assess and cut back on spending. It’s hard living in a high cost area like we are in, but it’s possible. We were in debt for decades and finally are not after 4 years of effort. Best of luck!

[@hogroamer260]

Real estate? Don't forget to deduct taxes and maintenance.

[@darrylk808]

Real Estate! You could save $25K and find a few partners and buy an apartment building that has good bones and needs work. Get creative... Minority Mindset has a free real estate investment session coming up.

[@vchap01]

Charlie Munger was talking about $100K in the 1950s which is like $1.2M today.

[@hanwagu9967]

it was 1994, so $210k today.

[@ClaudioLuciani]

Is your $30k savings recommendation on top of the 401k contribution? ($23k or $30.5k for 50+)

[@firozjivanjee7765]

Hi Azul I enjoyed your videos beginning like 6 months ago. But now find repetitive Maybe msje a video once or twice a month / or find new topics-- research a particular country and do pros and cons/ or find towns in USA to live on 2 to 3k per month -- or new topics like annuities / social security + Medicare as hear quite complicated for ordinary people. Thanks

[@julieg.5718]

Azul-your content is getting repetitive the past 3-4 weeks. This one you’ve recently done including re-using same color chart to show how quickly you can get to $1 million

[@香料國境]

rambling........

[@shaunaboo961]

First