How Can I Retire Early?

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[@chrisa8203]

She sounds like she’s 40

[@derekfairlie6147]

I thought she was at least 60 😂😂😂

[@theradiantone415]

@axertrybal I'm 15

[@daveerickson5313]

Good for her. I started thinking like that at 19. The 1st million came at 39, they counted up quicker after that. I retired at 54. Whoever says that young people don’t think like that really means, ‘I didn’t think like that when I was younger (but sure wish I did)’.

[@thehomeless_trucker]

@axertrybal there are 20 year olds who think like this.. guess what, the ones I know retired in their early/mid 30's... We are motivated by our parents lack of knowledge on personal finance and the fact that we don't want to wait till our 60's to have financial freedom.

[@StarxPlayz7]

axertrybal with a lot of educational debt free living and financial freedom nowadays,nothing is impossible.

[@CapitalCashflow]

1. Spend less than you make 2. Invest in assets, not liabilities 3. ?? 4. Profit!

[@lHurtYourFeeIings]

#3 marry wealthy man.

[@InvestToLive]

Boom! Facts!

[@Dannycky96]

1.Make a fan site 2. Make money off of a bunch of simps 3. Invest in assets 4.??? 5.Profit

[@hegemondtm]

3. consistently do #1 and 2

[@twincherry4958]

Is anyone wondering what type of job she will get? And she'll stay in it for 15yrs?

[@Pookie._.bear._.1]

Fire movement person here. My advice is to do the 15% into retirement accounts (HSA is best), pay off your house as fast as possible, then start stocking up your non retirement funds. It’s really that easy (as long as you have the money). I want to retire early because I hate the work force. I have learning disabilities and every job I’ve ever had I got ridiculed by at least one person. I would love to go into jobs knowing that I don’t need them and that I’m in control, not the employer

[@jimhandler1129]

You will have more wealth than any of them. Forget about them, keep focusing on increasing your wealth. The thing is, they are all there for the same reason, to make money. But I guarantee they are not as wise as you are. You will have them all beat. Who's smarter now?

[@zdenek3010]

The best option is being able to retire early and not want to.

[@InvestToLive]

100% agree!

[@bartvanriel6767]

Thats what I'm aiming for

[@0mnilegacy]

This is how I feel, having the ability to retire early is better than actually retiring.

[@richardrossi2030]

Mic drop! Boom

[@jovandraganescu1406]

10000% lol

[@eatnplaytoday]

I don't get some of these comments. People criticize others for not saving or thinking about retirement but we have a young female here already thinking about all that and people criticize her for focusing so much on money, calling her a future cat lady. Pretty sure if she's determined to be financially well off early right now, she'll have no problem finding new goals later on.

[@XFizzlepop-Berrytwist]

What the people here are saying is that to retire early you have to work hard, and work a lot, she may not be able to get a husband, or have kids, and retire early, and if she is 35-40, not many guys will want to date her because they likely want kids as well. Yes women can have kids that late, but its much harder and way more likely for complications to occur.

[@casondrastinson8525]

I'm with you on this. Apparently she just can't win! I grew up in an area where girls still go to college to find a man & settle down. I knew that wasn't for me. I still wound up meeting my husband & getting married at 24 - but we both want to work & have goals that may or may not include children, whether we have them ourselves or adopt. Our values are very well aligned. I dated some guys who couldn't handle the rigorous course load or thought no way could they be with a high earning woman. So I dropped their dead weight - ain't nobody got time for that! I think all these negative people are just dumping on her their issues and beliefs. She's going to KILL IT!

[@Jane5720]

They are rude and envious at her drive

[@Jane5720]

@@XFizzlepop-Berrytwist I know for some women it's hard to believe but I know for some women their world does not revolve around men

[@blackworldtraveler3711]

Jane Snyder I’ve met many women all in U.S. and all over the world like that. Also don’t care about marriage and/or kids and like doing want they want. Met an Italian woman on a Dubai/Paris flight in 2001snd we’ve been together since. No kids and no marriage. We have our own wealth,career,home,etc. and don’t need each other financially. I don’t know many women that are the cat lady types except for a friend in Manaus,Brazil with a full grown black Jaguar. Most women I live around are into those little cotton ball poodles.

[@teesellz7692]

I wish I was thinking like her at 20 lol she on point and on pace to do some great things

[@blackworldtraveler3711]

That's still 5 years too late.

[@Ryanbenitezfilms]

@@blackworldtraveler3711 Its never too late

[@tommyd0624]

BlackWorldTraveler great attitude

[@DanielPanuzi]

I've been considering retirement a lot lately, but I'm not sure if my 401(k) and IRA will provide me with a secure retirement. Even though I've been consistently funding my retirement accounts, the stock market can also be very volatile. About *30%* of my*$800K* has been lost in my stock portfolio.

[@AddilynTuffin]

A 401(k) or an IRA is a useful tool for retirement planning. They can gradually increase your savings and provide tax benefits. But managing your investments within these accounts is just as important as simply having them. For this reason, you require the assistance of a market-savvy specialist for your portfolio.

[@sting_grayl]

Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now and I made over *$800K* from an initial *450K* since Q2

[@albacus2400BC]

Pls who is this coach that guides you? I’m in dire need of one, my stock portfolio is declining rapidly. And I need investment advice for retirement.

[@sting_grayl]

*Sharon Louise Count* is my advisor; she can help tailor your retirement plan to your specific needs and risk tolerance. Look her up online to get in touch

[@albacus2400BC]

I looked up her full name online and found her page. I emailed and made an appointment to talk with her.

[@jeanlenor1858]

I will retire this year. I am 35. It was a hard long road but God made a way out of no way. From uber driving in 2015 to 2020 retired. Rental properties.

[@jeanlenor1858]

@James Marquis I was rejected by society because I didn't finish college. They thought I'd never make it. Now, they see my success and they're envious. Difficult? Yes Impossible? No

[@twincherry4958]

@@jeanlenor1858 🙏how many rental properties do you own?

[@jeanlenor1858]

@@twincherry4958 Great question. I like that. I do own all my properties free and clear. 2 duplexes, 1 single and one 8 unit apartment building which I am currently renovating. It will soon be completed. Then, I will officially be out of the rat race.

[@allopez5836]

Congrats Jean! You will be living the dream that most never get to! Do you recommend any books towards investing in property?

[@Blsbr02]

Check out The Book on Rental Property Investing - Brandon Turner, from BiggerPockets. I’ve read quite a few of their books. Of course they advocate for debt/leverage which Dave is against, but some of my favorite reads on the topic nevertheless.

[@sinamen516]

I have the same question but I'm 45 lol

[@SteveRam]

She’s got her head on right! Good job! Get that game plan and work it! 👍🏻

[@kennethboehnen271]

She was a scammer getting air time.

[@JonSchoeller]

Learn the different between wants vs needs. Make the necessary sacrifices by living below your means. Earn as much as possible. Consistently save and invest as much as possible. Stay consistent. Also understand that retirement (chilling on a beach with a margarita) is a pipe dream. That's only fun for a few weeks or so. But now you can focus on what you want to do versus what you have to do.

[@aolvaar8792]

I raise 4 children in retirement, I dream of chilling on a beach with a margarita and my kids in boarding school.

[@ChrisVincelli]

Save your money, and INVEST IT! That will enable you to not only retire early, but be wealthy!

[@Christophernorbits]

Only if you make the right investments that offer the necessary returns. You can set yourself up for failure if you make unlucky decisions about where to invest. But I still agree with you

[@ChrisVincelli]

@@Christophernorbits of Course, you need the financial IQ to invest properly!

[@Christophernorbits]

@@ChrisVincelli I'm exploring the world of cannabis stocks and DraftKings, hindsight being 20 20, I'll find out in 5 or 6 years what my investment iq is.

[@blackworldtraveler3711]

@@Christophernorbits All it takes is reading,basic math, due diligence,patience,and common sense. That's how it worked for me when I started investing in 10th grade.

[@pauld8790]

@@blackworldtraveler3711 same here they had us make a stock portfolio in high school 1982 got me started

[@kellyy9349]

"Your not going to retire and sit on a dock for the next 50 years" - Dave. So, so true! Instead plan on a second career that you will love. It maybe a hobby, volunteer or whatever. The point is to stay productive. Otherwise, Your brain will go dull and your body wasted away to an early death.

[@blackworldtraveler3711]

It's an option. That's whats cool about early retirement. You do what you want when you want. My mom retired at 52 and currently 97. she sit around,do gardening,read,play chess,cook,online gaming,etc...whatever she wants. I've met people on Marco Island that appeared to try their best to break a record sitting on a dock for 50 years fishing and enjoying the outdoors. They walk there everyday. Bring to myself and other neighbors fresh filet fish at least twice a week. It's what they enjoy. Their choice.

[@InvestToLive]

Good call out.

[@truthseeker6338]

We have such an idea about working till you die in this country God gave us our life to enjoy not work 60 plus hours a week to buy stupid cars and other crap.I would love to retire early and no Dave I would not sit there soing nothing.

[@blackworldtraveler3711]

@c v Star Citizen Ship- Anvil Carrack Expedition(BIS) Crew members Mom (tourist) Nieces and nephews- turrets Girlfriend-copilot Sister-engineer/shuttle pilot and others. And we play chess online on occasion.

[@theflightsimulationexperie6894]

I completely agree. Financial freedom gives us the option to leave the workforce and work when we so desire. I do believe there is truth to the idea that retirement is overrated. So I say when people retire, go travel the world for a few years like a slow long vacation. Then come back to reality and figure out something part time. My dream is to make travel content on KZbin in retirement and once that’s out of my system, I’ll move into the next thing.

[@anthonyc362]

Don't live in California, New York, Massachusetts, ect., or at least don't retire there.

[@dialac1]

I strongly agree with this. One thing that holds people back is where they live while in their young years

[@shannon2748]

And if you're poor? Retire somewhere like Mexico or Cambodia.

[@dialac1]

tulips or Venezuela lol

[@yeahgirl11]

@@shannon2748 Droves of rich old people and even Americans/American people live in Mexico City. It's basically America. It's a hotspot for Americans to get healthcare.

[@blackworldtraveler3711]

tulips If you’re poor none of that will help you much. You’ll wish you were back in the U.S.

[@blacksmith0316]

Good for her. Thinking ahead and willing to ask questions and listen.

[@mattsmillennialmoney39]

Only way to improve 🔥🔥

[@TonyAtmos]

Real Answer: 1. Do exactly what he said and in addition invest in an HSA 2. 5 years before retirement start the roth conversion ladder process which would involve rolling over your 401k into a traditional IRA and then into your Roth IRA 3. After letting the money sit in the roth IRA for 5 years it's elible for withdrawal without penalty (fees) but it's still taxed. 4. This will work if you start doing it 5 years before retirement and you move one years income (whatever you decide) into the roth year by year preparing for the next year's withdrawal. This dude didn't give her any advice but to stick to his plan. I'm on my FIRE journey and about a year into it. I'm shooting for retirement between 40-42 depending income increases.

[@peter-jm1pu]

Look into FIRE movement online or forums Ex: Gocurrycracker, JL Collins, Mr. Moneymustache, the mad fientist,

[@3of11]

Came to post this

[@eldogg4life]

Paula Pant too from Afford Anything

[@zachhawkins5005]

What is thr fire movement?

[@MisteRRYouTuby]

Caller: How can I retire early? Me: Save earlier.

[@InvestToLive]

Math - it never lies!

[@pmbarro]

Incorrect on the save earlier. Invest earlier.

[@MisteRRYouTuby]

@@pmbarro Can't invest on money you don't have...and expect to retire at all without incurring a debt of some significance.

[@pmbarro]

@@MisteRRYouTuby I get it, you are conservative with money. That's why you'll never be wealthy.

[@capnskiddies]

@@pmbarro most people who are wealthy are conservative with money. That's precisely it, they conserve it. They own cars for 10/15 years, they buy a home young and live in it for their whole lives. Sure they invest and save but usually in risk medium or risk adverse products. No reason to get snitty about it.

[@BrookeEli]

Great video!

[@jerrygee941]

Glad to hear this call from Carrie. Great to start thinking about investing in 401ks and Roth IRAs especially if you're in your 20s. I'm 26 years old and wish I knew about investing when I had just turned 20 years old. I've learned a lot from my mistakes and am now sharing them with others in hope that they can learn. I hope more people in their early 20s listen to this advice and invest early! Thanks for the great video Dave!

[@chrispetro]

BUDGET! Also save and invest (diversify and buy low and hold). Stay consistent.

[@LackaJudgment]

Hold up did she really just say she was 20??

[@CameronsCarReviews]

Actually I would sit and do nothing for the next 50 years 😂😂

[@mesidye]

i know right....he better not challenge us lololol

[@makeupviews]

🤣🤣🤣🙋‍♀️🙋‍♀️🙋‍♀️

[@trailrunnah8886]

Seriously. This whole concept of people only being valuable and productive based on the work they do is ridiculous. I would be much more productive and do many more meaningful things in my life if I didn't have to spend so much time at a job.

[@misterj1396]

@@trailrunnah8886 I agree. I cannot wait to retire and I will as soon as I can tap into my 401k without penalty

[@andrewbranham]

This is a great segment from the Podcast.

[@mattsmillennialmoney39]

Andrew Branham Love these videos

[@youtuber6185]

Great content

[@jeanpierrerideout7560]

2 comments. 1. Life doesn't always go as planned. 2. She hasn't even graduated yet already thinking about how quickly she can end her career.

[@taghazoutmoon5031]

I thought the same. She is already burned out before joining the work force

[@MP-nj1qy]

Amen to that, Covid19 is certainly teaching us that.

[@Elena-er7zp]

Answer: Finding investment advice from someone other than Dave Ramsey

[@alex2143]

Just wanna chime in here before someone says “but he’s rich and that means I’d rather listen to him rather than a broke person”... I fully agree. I’d rather listen to someone who’s filthy rich, who has made investing his life and who knows investing better than anyone. Someone like Warren Buffet, who has a net worth of over 1000 times that of Dave Ramsey, who says to invest in low cost index funds, and who (unlike Dave) doesn’t make a lot of money off of investment advisors who seek to peddle high fee mutual funds to gullible people. I love Dave’s advice for getting out of debt. His investing advice is borderline malpractice.

[@mace8704]

alex2143: If you think encouraging viewers to invest in mutual funds that have a long track record of 10+ years of outperforming an S&P 500 index fund alongside the guidance of a financial advisor that has the heart of a teacher is comparable to malpractice, you are a drama queen with the spirit animal of Eeyore.

[@woods8523]

@@mace8704 if you think reciting a point without any evidence that has already been made holds any merit to anyone with a brain than you're sadly mistaken.

[@mace8704]

Woods: Bless your heart. What evidence are you asking for? The mutual funds I own that have outperformed the S&P 500 index over 10 years enough to justify the increased expense ratios? Or the fiduciary financial advisors I use that have the heart of the teacher?

[@blackworldtraveler3711]

@@alex2143 Definitely more and even better options out there. And without filing for bankruptcy. I really like Buffet common sense approach.

[@BZ-ki9ku]

Love this guy!

[@zc3303]

I need people like this in my network!!

[@cheezybred]

What mutual funds have a 15% roi??? Any reasonably safe mutual fund returns 10% max.. these numbers dave is throwing out are not realistic.

[@thestockfother]

VOO, VTI. And it is possible. My mom's financial advisor (soon will be mine) has an investment "it itinerary* on how to evaluate companies and funds that aim to shoot you in the ballpark of 14-16%.

[@jamiesonmelnyk]

I think he was meaning SAVING 15%, Not the ROI.

[@perotal]

@@thestockfother The average return of VTI since inception is 6.85%. Very far from 15

[@DisabilityExams]

@@thestockfother VOO 5 year performance 9.08%. VTI 10 year performance 11.28%. 5 year performance 8.28%.

[@thestockfother]

@@perotal nah your not factoring in the dividend mate

[@MP-nj1qy]

This girl lives in the future just like me, except I learn that plans often change. Covid19 is certainly teaching us that in 2020.

[@twincherry4958]

I know right. I hope all goes well with her. There's something known as unforeseen circumstances which are inevitable. I hope her mindset if prepared for it...it may not always be a straight path.

[@merrymaurader2521]

I’m in the same situation. College student and a full time worker. I’m obsessed with the FIRE movement and I do believe I could retire before 45. I would still be doing something productive like Dave said, that is go to my daughters soccer games, manage real estate properties ( that is if I ever have any ), learn a new language or set a goal of running 30 miles every week.

[@cardesigner]

You can do it! I’m 40 and retired using methods similar to FIRE (stumbled on FIRE long after I started and it is very similar). I’m now a stay at home dad to my little kids which is so much more rewarding that corporatism. Good luck!

[@merrymaurader2521]

@@cardesigner that’s awesome! Holy cow how long have you been doing this for?

[@BRunk84]

Don’t recommend mutual funds for an after tax bridge account. Too much turnover and tax penalty. Use index funds or index ETFs.

[@juandough1423]

If you're interested in retiring early you should be saving half your income, investing in low cost broad based mutual funds, investing in rental properties etc. Looks like a maxed out 401K, maxed out Roth IRA and money into a brokerage account.

[@j22s]

Index Funds > Mutual Funds

[@dancer1]

I'll pay you 37.63 to store me somewhere what’s the difference

[@dancer1]

Nah Roth IRA and 401ks are stupid

[@mace8704]

trainsirf: How are Roth IRAs stupid? It’s tax free growth.

[@blackworldtraveler3711]

John May Also Roth 401k.

[@totalpackageinvestments6129]

What you spend, not what you earn, determines how much you need to achieve Financial Independence. This is one of my biggest take aways from the book: Choose FI.

[@andrewgeorge863]

Correct. Keeping expenses very low is key.

[@SirTboneable]

Limit expenses, increase income, and reduce tax drag. Then it’s just time and power of compound interest.

[@richardnewton302]

The young lady is a millionaire in the making. How I wish I’d discovered Dave at 20!

[@kennethboehnen271]

She's in her 40s

[@billashby7858]

I retired at 55 because I married a school teacher with a pension! I also saved 10 percent of what I made!

[@KS-cl8br]

How many times your income did you have in retirement by saving 10%. Why 10% how did u come up with that number. Thanks.

[@SirTboneable]

Invest in Traditional 401k early and often, leaves the option of setting up a Roth conversion ladder to pull money from the 401k penalty free (and even tax free if you meter it with other income sources)

[@DavidStylz]

I saw the lines in the background of the sign for the first time and literally thought my phones screen was cracked haha

[@zee9er]

20? Ain’t no way a girl named Carrie is 20 with that voice 🤣 sounded like my mom 🤣

[@faltio69]

😂

[@lisetsantos6250]

good video

[@BboyDaquack]

She's 20 and already on top of things. She single tho? 😂

[@swampcrawler4185]

She's set to run full speed at the wall. Going to turn 38 and suddenly want kids and wonder why men arnt interested anymore.

[@perotal]

@@swampcrawler4185 not every man wants kids.

[@BboyDaquack]

@@swampcrawler4185 could be the case. Or she's looking for a solid husband that also has his finances together. Hard to tell 🤷‍♂️

[@DeionSardines]

@@swampcrawler4185 more than likely you're right

[@TuyetNguyen-pp2ew]

She’s twenty, why does that matter? There are more important things in life at that age.

[@zackdreamcast]

Why do people think retirement is sitting on a dock fishing? Retirement only means you no longer are dependent on someone else’s money so you can work or help a friend or take care of your nieces/nephews, etc etc. just gives you options. That’s what retirement is

[@injanhoi1]

Yep! There are plenty of things you can do when you are retired. Volunteer work is one of them. You have options and can break the chains from the employer you are with should you wish.

[@tomkin25]

Or you can do what heck you want to do!😂 Your time, your business👍🏾. Dave is not god. He doesn't know how long a person has to live. Respectfully

[@monarchmontgomery9831]

I wish I was as focus on my 20’s. I would been in much better shape in my 40’s. Way to go

[@KS-cl8br]

Rule of 55. Substantial equal payments. You can tap 401k before 59 1/2 without penalty if follow that specific rules in tax code.

[@chrismayer7762]

I volunteer a tremendous amount of time to local VFD.... It seems like a second career with no pay

[@kyle7574]

This is the exact question I have

[@InvestToLive]

Start early, be consistent, be conscious of how and where you spend and invest! Nothing NEEDs to be complicated!

[@mattsmillennialmoney39]

Invest To Live WISE WORDS. So true

[@InvestToLive]

@@mattsmillennialmoney39 Thanks!

[@jball34337]

I like using growth dividend investing for extra passive income

[@dexterm1285]

As I get older early retirement loses some appeal. I mean leaving my employer be great but I'd need some sort of side work to keep my mind busy...just not sure what that could be.

[@michaelshawn6791]

What about challenging hobbies?

[@deem.4527]

I’m 20 and just started looking into FIRE 🙂

[@JohnsonKayla12]

Go you! I’m 23 and am looking into it. Just want the awareness that I don’t HAVE to work to be financially set & I want to be selective about doing jobs I enjoy without worrying about the income to survive. Get started ASAP & I’m sure you’ll succeed.

[@seanm4887]

Take your estimated living income at retirement and x25. That's your FIRE # if you draw 4% off a year. Stay away from front loaded actively managed mutual funds with high expense ratios and commission. Seek out term life insurance instead of whole.

[@Je.rone_]

*I want the ability to retire early, but I don't want the desire*

[@thehustlinhomemaker1467]

Yasss!

[@misterj1396]

I want both lol

[@truthseeker6338]

Dave dooes not understand the point in Retire early,he has money to do what he wants,most of us just want to be free from a 9 to 5

[@heslind]

Health insurance is the biggest roadblock to early retirement

[@mleobviously]

In the past yes, but things have changed since the ACA (Obamacare) was passed. Not too difficult to manage your income levels (govt healthcare subsidies are based on income, not on your assets). Some could argue those subsidies are intended for the poor, not early retirees with $3M in investments, but those retirees contributed to the system during their working years, so I say kudos to them for realizing benefits from their taxes. And kudos to those who realize benefits without contribution. Everyone somewhere in the "middle" may be worse off, but that is US policy in a nutshell..

[@kylegustafson6088]

Mutual funds no. Why not an indexed fund that has basically no fees compared to mutual funds?

[@AmericanPride1234]

I am 42 years old. Work 2 regular jobs and like 4 self employed jobs. I hate doing math on when I can afford to retire. I tried using a graph T I 80 calculator once and the answer I got was I can afford to retire 2 days after I die. 5-26-20

[@KikiAndJeffreyPearl]

Build residual income and live your best life while spending beneath your means

[@mattsmillennialmoney39]

LIVE BELOW YOUR MEANS, Invest, save, retire early. 🔥

[@InvestToLive]

Start young and be consistent. No secrets needed!

[@gsquared2394]

In order to retire, your investments must make enough to cover your expenses. Period. End of discussion. So you either increase the amount of your investments or cut your expenses (and lifestyle) down as much as possible, or both. If you want to retire early, it’s easier to cut down your expenses as the investments have less time to take advantage of compound interest.

[@vanguardvaluist2614]

Use a taxable account and take advantage of compounding interest ASAP. Use this as a bridge account to your IRA assets.

[@JessicaHicks]

🔥F.I.R.E.🔥

[@drewsteinman1898]

As a CPA, it's clear to me that Dave has no idea what he is talking about on this subject. Non-retirement mutual funds? Mutual funds aren't specific to account type. There is no such thing as a retirement mutual fund or a non-retirement mutual fund. I'm guessing he means to buy a mutual fund in a regular taxable brokerage account. If she retires early, one option is to simply withdrawal contributions (but not the growth) from her Roth IRA at any time. There is no penalty for doing so. Continuing to fund the Roth IRA is superior to this "bridge account" idea because the Roth grows tax free. Secondly, there is Rule 72(t) which allows withdrawals from 401k/IRAs without penalty. The downside to 72(t) is a lack of flexibility.

[@iamtheclout1912]

She need to follow those fire people

[@extremecarpetcleaning-wvwi86]

I only buy ETFS in a regular investment account because i plan on retirement at 55 if i make it that long. I already have serious back issues now at 48 and worried i won't make it to 55 years old. I already can't sit very long or stand very long. I just rotate between them. Getting old sucks. Especially if you have disc issues and arthritis of the spine.

[@garybrown4753]

Give me your best advice dave

[@jonathanlopez8535]

She is not 20😂😂, she is the mother asking for her daughter future and if she sounds like that at 20 OMG

[@kombophoto]

Nicely dodged the actual question there, Dave. Point of the question was how to access retirement money early penalty free.

[@the_g1254]

he said Bridge into mutual funds. pay attention bud.

[@thehomeless_trucker]

OMG you need to follow the FIRE movement immediately, don't wait till age 30 and don't be doing just 15% into your 401k, max your retirement accounts out soon as you can. "ChooseFI" podcast and Facebook group is good start. Then you can go down the rabbit hole of the financial Independence community.🙂

[@wesidk5662]

Is 20 too early to start thinking about stuff like this? I'm 17 and have been thinking about focusing on becoming financially independent for years

[@aggz619]

I'm trying to retire by 35 and explore the world!!!

[@lucaslevonmusic]

Explore the world this year.

[@mannyjeanpierre4062]

401 k, roth IRA, real estate and stocks

[@mattsmillennialmoney39]

Manny Jean Pierre yes sir. 🔥

[@sourmelongaming69]

Retirement accounts are garbage. Americans have now learned that the hard way

[@jimjones6901]

@@sourmelongaming69 You think IRAs are bad? Why?

[@sourmelongaming69]

@@jimjones6901 Id rather do an IRA than 401k. Not saying theyre terrible, but I prefer investments where i have control over my money. Not to mention opportunity to scale. Keep in mind, no one ever made it off investing in retirement accounts. Just remember, where everyone goes, things go bad

[@blackworldtraveler3711]

Works well. And might be a good idea not to continuously trade houses,spouses,and cars like baby boomers have done through the years or you'll be 60 with nothing to show for your financial efforts.

[@kartboarder22g17]

The thing is if your going to retire early gives you a lot of time to volunteer at your local church or other volunteering. Where if your not feeling it you can just pull back on your volunteering as needed.

[@samlee6152]

Even if I could retire early, I don't know if I'd want to. I'm passionate about my field and want to be in it for as long as I can!

[@blackworldtraveler3711]

I retired early because I no longer needed the money. I can be passionate with better things to do even if it’s something like online gaming.

[@michaelshawn6791]

Lucky you

[@jay-rus4437]

My plan (all be it, after blowing a TON of money early on) was to substantially reduce our month to month living expenses. We sold houses, cars, motorcycles etc etc. Got rid of ALL credit cards. Went from $8-10,000 per month expenses, to $3,000. Started a business, now 7 years in, and have increased our income, and still living on less than $3000 per month. Now that the business is stabilized, its time to begin stacking as much as we can. Im 47 now....and I can either cry about the terrible financial decisions we made for so many years, or we can look ahead. Im not looking for unrealistic ROIs....or “leveraging” our dollars. We will simply start stacking. Thats all we have at this point

[@burningcoal5705]

Saving money is like being paid not to spend it

[@bryanpoulsen8969]

To the caller and others interested in financial independence and early retirement: look into Mr money mustache and the FIRE movement.

[@033spaceboy]

How do these people think they can retire at 45 without health insurance? She's going to pay $700+ a month out of her own savings to go towards health insurance? Thats one of the benefits of working, the company pays for most of your insurance.

[@daveerickson5313]

I retired at 54 and use a health cost sharing coop. I spend less on care/premiums that when I worked. It can be done.

[@greggo3080]

If she maxed out her HSA from 20-45 and had it invested. She could make it work.

[@Vita-a-stelle-e-strisce]

If you move outside of the USA you don’t need health insurance.

[@christined1627]

If she's a multimillionaire at that point, she will do just fine

[@mikeshay6614]

@@daveerickson5313 which health sharing company do you use Dave? I'm 54 seeking the same goal.

[@phazon100]

Take risks. That’s how you do it.

[@hegemondtm]

retirement is a financial status, not age

[@Highlander9740]

I can receive a full pension now at age 53 but health insurance is the issue. My insurance has a 7k deductible so it's not great. Wish there was affordable health care. At least it is a comfort knowing that I could retire if I had to. I would like to retire from where I am and then work somewhere else. Many people do this. Does anyone know of affordable health insurance? That is my question, please help and bless you.

[@Vita-a-stelle-e-strisce]

Move in another country where healthcare is not a business and you pay some more taxes but they are 1/10 of the cost of an American health insurance. And in those countries you don’t need health insurance.

[@44fastgun]

The answer to her question is find an employer who offers a 457b retirement account. She would be able to get pretax benefits and still be able to withdraw early without penalty.

[@princesslamour1985]

Oooooo good question 🤔🤔🤔🤔🤔🤔

[@greenAbbot]

I applaud this woman’s confidence, but I sure wish that Dave had asked her what her career field is. There’s no way you can know after one year of college that you’re going to be able to retire at 45, or that you’re going to be any good in your field, or that your field is even going to exist after 20 years, or that the market is going to keep growing at historical rates...plan for the future by all means, but don’t get ahead of yourself and don’t sacrifice the next decades of your life for some early retirement that may not be there in the end.

[@daveerickson5313]

It’s called goal setting. Those who set goals are miles ahead of those who don’t.

[@schawnettarobinson8584]

I want to retire early as well. Older people ALWAYS say “ You’ve plenty of time.” Young people die young also. Death doesn’t discriminate.

[@mahed5807]

If you're reading this, check out the channel Our Rich Journey. Those people retired at 40! Also, of course, Mr. Money Mustache. And the ChooseFI podcast

[@yeahgirl11]

Thanks!

[@keronwilliams5392]

Love our rich journey channel they offer better advice when comes to what you should invest in compared to these high frees mutual funds Dave Ramsey be recommending

[@weaintfree]

She’s 20 ?? Sounds more like the 20 yr old’s momma is the one on the line.

[@mountainmonkey15]

Dividend paying stocks are a good way to retire early

[@casualfinance5270]

Roth IRA & 401k are the best options.

[@aolvaar8792]

I retired early, my former employer pays $1400/mo and I pay $600/mo towards Healthcare. Think about it. People talk about retiring early, What about healthcare? $2K/mo on a large group plan, $2.5K/mo on an individual plan. We paid $3K co-pay on a $450K bill at the hospital. Think about it. My daughter broke her leg, $63K Bill, $150 co-pay Think about it.

[@drudometkin]

Yea people don't think about that. I'll be ready to retire in my 50s, but my current employer doesn't pick up the healthcare in retirement until 65.

[@aolvaar8792]

@@drudometkin ?65, you are eligible for Medicare

[@daveerickson5313]

There are health coops where you pay in and get refunded for expenses. I retired at 54 and have been in a health care sharing coop for 3 years. I’ve never spent less on overall health care costs than I am now.

[@thomasmazsa2008]

there could be alot of joy in being that nonproductive

[@TerryOnDemand]

She is NOT 20🤦🏽‍♀️. She sounds 62😩. Somebody is lying

[@torolabie5608]

Being older now I say plan for retirement and work the plan but dont over obsess about it. Live life in the present moments. Personally I think retiring in the 30's, 40's or even early 50's is too early. Build your career, family and investments during the productive younger prime time years. Time goes by fast and when ready to retire when financially sound and ready to exit the working career one can step into that phase and not regret leaving possible productive career years on the table. OK just my perspective.

[@trumpisaconfirmedcuck5840]

What if I don't want a career (I have one, but don't want it. I want to be retired).

[@AdamGbl95]

Real estate is number 1

[@celebrity_rooster7488]

Look at that. Life is a competition. People with more resources always have the upper hand. Winners get everything. Losers get absolutely nothing. No wonder why violent people finish first.

[@investfluent4143]

I can't believe Dave is one of the top paid podcasters. That's crazy!

[@mosesyang4222]

How early can a person retire depends on how many kids they have lol

[@jusrarsh4109]

You simply need monthly cash flow to cover your MONTHLY expenses. Businesses. Dividends, etc. Simple. Hard to execute, but that's about it. Don't be age 60, and realize you only ever had one stream of income.

[@ClaxtonBay123]

F.I.R.E. Spend some time on r/personalfinance. Or look up Financial Independence videos on KZbin.

[@scarpfish]

The F.I.R.E. movement takes the good concept of saving your money, takes it to a ridiculous extreme, and much like a tiny house makes a lame fashion statement out of it. I'd like to see what these folks actually do when it comes time for them to retire. At some point, they're going to conclude that their math was off, and that work provides more than just income. It provides a purpose and social connections.

[@fpsoftdev]

scarpfish the retire early part is really a misnomer. No one will quit working all together. People just want choices. Going to work everyday feels a lot nicer when you don’t HAVE to be there, you’re choosing to be there. It’s a lot less stressful to know that if you get laid off you’re still okay and can live off investments. Most people get financially independent and then go on to work on passion projects that may not yield money for a while. OR they continue working and continue investing to get obscenely wealthy.

[@TheCheweeRevolutions]

@@scarpfish the fire movement is about having the option to retire early, not the obligation to

[@rebeccaweinstein6560]

3 million saved by 50?? Really? What am I missing?

[@korianabrooks4241]

Would need to start at 20 and invest $400 bi-weekly in Dave’s mysterious funds at 12% return. Super easy.

[@sidneyblack1036]

Vanguard’s VTSAX index fund would be a good start.