How I Will Retire by 35

I will be sharing how I plan to retire by 35. This is based on my own research over the years, reading books on self-development and wealth creation, talking to entrepreneurs who make multiple 6, 7, and 8 figures, as well as some of the things I learned while starting my own businesses this year.
________________________________
MY FAV TOOLS
[WEALTHSIMPLE] Earn💰$25 Cash Reward when you sign up & fund a Wealthsimple Account: my.wealthsimpl...
[OWNR] Start a Sole Proprietor or Corporation in Canada. Save on lawyer fees & get 15% off partners.ownr....
[DOOLA] Form your LLC or C Corp in the US. Start your business and have Doola take care of all your compliance in one place partnersps.doo...
[QUICKBOOKS] Organize your finances and send invoices that get you paid fast. Get 80% off for 6 months: quickbooks.par...
[EQUIFAX] Protect yourself against Identity Theft and take control of your Credit Score with Equifax Complete™ Premier: api.fintelconn...
________________________________
FREE RESOURCES
💰FREE BOOKKEEPING TEMPLATE www.gabriellet...
💰FREE BUDGETING TEMPLATE www.gabriellet...
________________________________
CONNECT WITH ME
💼 Tax & Accounting Firm: www.balanceand...
🌍 Website: www.gabriellet...
📸 Instagram: @GabrielleTalksMoney
________________________________
WHO AM I:
Gabrielle is a CPA and Tax Expert, as well as the founder of Balance + Wealth CPA, a licensed CPA firm that specializes in Tax. Prior to starting her business, worked as a Tax Manager at one of the Big 4 Accounting Firms for 7+ years, working with Global 500 companies. Gabrielle posts weekly videos on personal finance, business finance, and tax tips.
________________________________
Disclaimer: Note this video is not financial nor accounting/tax advice and should be used for entertainment purposes only. Consult with your own financial advisor, accountant and/or tax advisor for specific advice related to your business situation and needs.

[@GabrielleTalksMoney]

Do you agree or disagree to what I've talked about today? Comment below and share your plans to retire 🙃

[@d.k.3316]

I too was brought up by immigrant Asian parents. I luckily didn't listen to them. My goal was retire / financial independence by 30. I was one year late. Gabrielle, you're on the right track with a great path. Remember to have fun because the time will fly by both before and after 35.

[@Truthhurts808]

You’re so smart, how can I not agree! I have essentially retired around 35 years old, so I am experiencing it now, although I have taken a more philosophical approach than a pure financial approach (that’s a whole separate story! Thanks 🙏!

[@GabrielleTalksMoney]

@Jewel N Thanks! Im curious to know how you retired and what passive income you are receiving!

[@GabrielleTalksMoney]

@D. K. Thank you! Curious to know how you managed to retire!

[@d.k.3316]

@@GabrielleTalksMoney In a nutshell - by using the very ideas that you shared in the video. Most importantly, it was identifying what's important to me and working lifestyle around the after tax cashflow generated from passive investments. Having a like-minded spouse helps a ton too. It's really hard to pinpoint on any one thing, so let's call it a respectable set of "retire early habits"... and you probably covered 90% of them.

[@Supermateo97]

First off love your vids Gabb, as an aspiring CPA, I find them very helpful! Second, as someone who researches a lot about investing, I will say investing "regularly" is pretty slow- but there are people that find ways (especially with certain stocks and dividend yields, etc) to gain more out of the market a little faster. Or at least that's what I hope to get into.

[@Wds__99]

Retired in mid 40’s. All through conservative stock market investing. I would have retired sooner of if I didn’t buy real estate. That money would have done better in the markets. I had mostly bad luck for the first 10 years of investing. But I stuck with it and eventually the markets took off and my wealth grew to enough for a retirement.

[@vccheung]

I also just started working in public practice for about a year now. As the whole idea with inflation circles my head, I also find that I'm worried about retiring, which looks to be very far for me as I just started my career. I think it definitely takes a lot of time to figure out how to secure an income stream for your future. Thank you for your insights on the possible income streams to look into!

[@GabrielleTalksMoney]

Thanks 😊 Best of luck to you!

[@ldstiesto]

What a great video

[@shirleyzeng216]

All of this sound good on paper, but you did not talk about your own journey or your time horizon and details around that, that would be interesting

[@GabrielleTalksMoney]

great suggestion!

[@MJ-cg8vp]

I tend to disagree with you here Gabby. The ultimate freedom is time freedom, not financial freedom. I started investing in stocks exactly ten years ago when I was 24 yo. As of today, my net worth is about CAD $2.4~2.6M, with $1.8M in stock and $800k in RE. Along the journey, I met my beautiful wife, started our family, had two beautiful kids, got my CPA, and am working on my CFA right now. Even at a $6% annual return, we can probably live on our capital for the rest of our lives. The ultimate freedom is to be able to spend time with your family, nothing else!! At our stage, I cannot say we can buy everything we want, but I can confidently say I don't have to suffer for things I don't like. I can walk off my job at any second if I dont think it's worth my time anymore. That is also a freedom.

[@GabrielleTalksMoney]

I think we agree on the same thing - time freedom from financial freedom!

[@AW-gj4ji]

my only question is, how much did you have at 24? That's potentially a crazy amount of annual return.

[@fahimaljahangir3059]

how did you even get to $1.8m in stocks in a matter of 10 years? Day trading?

[@yoohocho9831]

I would always be cautious about financial advice literature which is a bit old. The book mentioned in the video is a 2011 print.

[@GabrielleTalksMoney]

i believe the fundamentals are still valid. Feel free to share your plan for retirement 😀

[@therewillbeguitar8078]

If the accounting principles we use today are rooted in ancient sumeria and the British East India Company… I think a lot of financial principles remain the same.

[@yoohocho9831]

Agree on that. Too late for me to be planning retirement but I was old school ( work until you can't anymore, put aside as much as you can, risk tolerance controlled asset allocation, luck )

[@sauravlahiry6951]

hi sis, u are my own Warren Buffet. i am spellbound by your IQ. Korean and Indian parents are essentially the same. Both prefer stable govt jobs.

[@michaelclennan8425]

Yes, it is about freedom to earn money as you enjoy. Living in or retirement in a small town is cheap. Most people waste a lot of money.

[@TheGamers-rw9tb]

Thanks, what is your business that you talk about?

[@rasicule]

Great video! I do want to disagree on one thing. 20% of a $100k salary is not $20k. The $100k gets taxed at around 20%. Your take home is then about $80k. So you'd end up saving about $16k/yr.

[@kyuchangjo]

I really like your "Fast Wealth" curve. Thanks 😊

[@oldtechie6834]

By the time you diligently saved up $1M, you will need $3M just to retire.

[@lindam.1502]

I thought that 30 years ago, $1 million is still enough to retire if you have solar panels and an all electric paid off house and electric car 🎉

[@rambogaming2497]

Is all a game minimize fixed expenses and spend less make more save more invest more invest in education 😜 nothing is impossible hard part is acting

[@xiaomingchen4964]

I have learned a lot from your videos …l like the calculation part

[@EricSetoInvesting]

Go Gabby! :) Good luck on your business venture.

[@jokerjoker173]

Hi! I agree. I’m trying stocks and forex……..

[@jasonl.7466]

why not live off the capital itself (not the passive income), it’s not like we can carry that capital to the next life.

[@Nova_Zed]

Because you’re killing the goose that laid the gold egg that way. The object of life isn't to get rich and then get as close to zero dollars by the time you die.

[@Patrick-s1c4p]

Your wrong, the object of life is to die with zero assets and as much debt as possible​@@Nova_Zed

[@huma3968]

Thank you very much for a very nice video.

[@jeremytheoneofdestiny8691]

So the only way to get ahead and not work your entire life is to take advantage of others and make them work for you for their entire life. Or pay you rent. That’s just depressing.

[@James-nv1wf]

Exactly. Personally I couldn't lay in a hammock on some beach somewhere knowing this. My wife would also never tolerate taking advantage of people this way, regardless of how many do it.

[@arekpapierz6212]

Someone finally saw through that...she is not going to contribute to society in any way

[@bounceofffast]

I am wondering what businesses I can do ...

[@cal-hawktools7034]

can you compare ev and gas car?

[@mikekeenanphd]

I am not sure how sitting at the beach doing nothing is meaningful. Wouldn't that get old pretty fast? I saved my first 1MM in about 13 years and have saved many more since. Working at a job I enjoy for 35 years now. May retire some day!

[@lindam.1502]

I want my time back, I won’t sit on the beach as you suggest

[@property1vegas]

I Love This Plan. Your spot On..

[@remuspierre7573]

Good advice

[@jlndb]

Save 10% inflation 30%, lol

[@rizavalmadrid9131]

hi. more video pls

[@rminfinitycal7635]

New subcriber here! ❤

[@blec.g7522]

I wanna work with you !

[@jlndb]

Never enough to retire look at those retiring now-think that a million is enough and their asset dropped 30% in buying power!

[@MJ-cg8vp]

Disagree here. Gabby has a good point. If you invest $1M by 35, inflation will never beat you!

[@GabrielleTalksMoney]

fair point @jlndb and thanks @M J for the reply 😄

[@jlndb]

@@MJ-cg8vp Hope so like she said if you are moving in linear you are sucking air, lol. Need to keep on investing and have to have good return preferable with exponential growth. Just house in Vancouver is a mil plus your car let say 60k and plus your investment. Remember this if you retired 35 compare to 65 that means you need additional of 30 more year for cash burn rate.

[@jlndb]

60k car

[@hsil-zc4yr]

Double income, no kids! Best way to retire early! Partner and I have been childfree since we met at 24 , 15 years ago.

[@aalberto4961]

I agree!!

[@yannaingsoemyint1121]

👍👍👍

[@chinhwankim]

Thank you

[@codenamezero7357]

Starting business is bankruptcy most businesses fail

[@China786]

You are pretty girl