I Retired One Year Ago (Age 51) -Here Are The Pros & Cons

In this video, I share my personal early retirement experience of retiring at the age of 51, reflecting on the past year of my Financial Independence journey. Join me as I discuss the pros and cons of early retirement and how it has impacted my life. Discover valuable insights into financial independence and the FIRE movement, including essential retirement planning strategies and budgeting tips that have helped me achieve financial freedom.
Throughout my retirement, I've learned important lessons about dividend investing and retirement savings, particularly from the perspective of a black retiree. I highlight the significance of building black wealth and the role of financial empowerment in achieving success. Whether you're considering retiring early or are just curious about the retirement lifestyle, this video offers a candid look at the realities of retiring early and the strategies that can help you along the way.
From frugal living hacks to the mindset needed for a successful transition, I share my thoughts on what it truly means to embrace this new chapter as a millennial retiree. If you're on your own financial independence journey or thinking about retirement planning, you won't want to miss these insights. Tune in to find out whether the grass is greener on the other side when it comes to retiring at 51.
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[@idaliarice4773]

Congratulations, wish I had came across you long before now… such an inspiration!

[@AskSabado]

Thank you. You’ll get there sooner than you think.

[@Retired-jr3qs]

Congratulations on celebrating 1 year of early retirement.

[@AskSabado]

Thank you.!

[@solowundesignsbysamdavis9043]

Don’t know the reason for this popping up on my feed but I’m the kind of person who is willing to learn from those who came before me. I’m 42 no wife or kids and currently on pace to retire at 53. I’m also the kind of person where all of my hobbies are money making opportunities. So I listened to this while cutting my hair and decided to subscribe.

[@AskSabado]

@@solowundesignsbysamdavis9043 welcome and glad you are here. It’s all about living our best lives.

[@economicdevelopmentplannin8715]

Retired early and moved closer to family who i thought were entering retirement phase too, to spend more time with them as they're aging. Only to find out that they're all oddly busier and don't make lots of time for just fellowship on a Tuesday morning. It's an inconvenient reality.

[@AskSabado]

Funny how that works. My 80 year old mother is busier than my wife and I combined. Thanks for sharing.

[@rose4u111]

I just discovered your channel, and I am interested in your stance regarding early retirement. I have been retired for 18 months, and I am experiencing so much peace. The “Sunday dread” of starting a new work-week and getting up at 4:30 a.m. each day used to be my pet peeves. Blessings to you in all of your future endeavors.👍🏾

[@shelleypatton7052]

That Sunday dread is awful!!!

[@AskSabado]

Welcome! The peace is unparalleled. It’s hard to understand for those that have not experienced it.

[@mellyzstyle]

I can’t wait! Working towards it! ❤

[@AskSabado]

You got this!

[@hrobbins]

I enjoyed this video. I think about escaping mega corp daily. thanks for sharing.

[@AskSabado]

Thank you for the comment. Your day will come.

[@shelleypatton7052]

What would have to be true for you to escape? That’s what I asked myself 😊

[@hrobbins]

@shelleypatton7052 my pension needs to kick in. Then I can ride off into the sunset

[@AskSabado]

Right on!👍🏿

[@frfletch665]

Alarm to play golf sounds fine to me!

[@AskSabado]

Not the worst reason for sure. 👍🏿

[@g.burney4714]

Just tried leaving comment

[@AskSabado]

@@g.burney4714 just responded to it!

[@KevinCollins-kg5hl]

I'm retiring with a $750,000 nest egg and aim to make it last. Which investments would you recommend for steady growth and reliable income?

[@AskSabado]

By no means would I consider myself an authority on retirement finance. However, you may want to research ETFs and other low cost mutual funds. I would strongly suggest you speak to a financial adviser as they will be able to provide advice based on your specific situation as well as help you devise a retirement budget that accounts for things like inflation and taxes.

[@richolman6800]

Depends on how old you are and where you live. $750k isn't a ton to retire on. 1 month T Bills are around 5% right now, which would annualize to around $30k annually or $2600 a month. If you feel like you can live on that where you have that as a safe, medium yield investment. Of course everyone will tell you just buy the S&P500, VOO, etc. since it averages 8% - 12% long term, so maybe allocate less of your nest egg to that for the years the market is down.

[@g.burney4714]

Congratulations sir what an achievement at such a young age. My wife and I are in our 60,s ( no debt) bills are paid up 8 months in advance the downside is our retirement fund is over 6 figures but not enough to retire off of. How much money do people need to have for a secure retirement? One more thing you’re debt free right ? Some of our friends our retired but have debt. thank you sir good channel

[@AskSabado]

@@g.burney4714 The amount one needs for retirement really depends on their expenses. While I always think it’s best to enter retirement debt free, it is not always possible. My recommendation is that you speak to a financial advisor. They will be able to provide advice based on your specific circumstances.

[@BrunoHeggli-zp3nl]

Life isnt amazing,Its OK at best and Its even better never be born!Life is overrated!!

[@AskSabado]

The first step in getting to amazing 🤩 is an honest assessment of the current state.