The 4 Paths to Retirement And Financial Independence | How to Escape the Rat Race

[@Juan_Hernandez_Jr.]

Had I started planning my retirement 20 years ago, I'd be ready to retire in another 3 years. Unfortunately no one ever talked to me about actually saving money for retirement. Everyone talked about social security as the plan. Then when I hit my 40's people started talking about social security being gone by the time I reached retirement age. I'm still retiring at age 60 regardless of the size of my "nest egg". I'm selling everything and leaving the U.S. to a country where the U.S. dollar buys more. Good luck to all who "love their jobs".

[@jangabella]

Very smart 😉😉😉

[@damiangonsalves123gonsalve6]

Maybe I can go veitnam or Thailand or India it cost less

[@Kayla11113]

I would do this but I don’t want to leave my kids.

[@jofieraymond6528]

I am following up on this comment to see what you ended up doing

[@JoeBPedrosa]

1. Traditional Retirement - Retire at 67 2. Coasting Financial Independence - Save up, quit and then work a job you enjoy p/t 3. Lean Fire / Fat Fire - Make a lot of money, invest into index funds, withdraw 4% 4. Mini Retirements (4 Hour work Week) - Work for a while and take a mini retirement every couple months / years

[@ayannafit2441]

I've been taking these mini-retirements in between jobs (if you on consider 1-2 months enough) but after my last job I've changed my goal to never depending on my job again and never having to stay in a job I don't enjoy.

[@NextLevelLife]

A good goal!

[@25Soupy]

33X expenses....The problem is most people don't even start to consider retirement savings until they are 45 years old and many even later. The fact that the amount needed to retire is so large people have a visceral response to the numbers and throw their hands up in despair and give up before they even get started. I know people that won't even bother to track their spending habits because they know how bad it's going to look and just flat out refuse to curve their spending/lifestyle.

[@NextLevelLife]

Unfortunately, yes, that is how some people operate. And it isn't going to lead anywhere good for them. But that doesn't mean that we have to approach things that way. Best we can do is make sure we're setting ourselves up for success and showing others how we did it, allowing them to talk about how they could do it, and helping them slowly change their approach to money so that they too can succeed financially. It won't happen overnight (and some may never be willing to change for the better at all unfortunately), but it is a process worth working at with them. Even if we fail to change the minds of 99 out of 100 people, that's still 1 entire life that is fundamentally changed for the better! (possibly more if they try to help others down the road too). I think that one of the issues is a lack of financial education. $1,000,000 seems astronomically high to someone making $40-$50K a year and spending $50-$60K, but once they learn how to better manage their finances and how to invest properly it suddenly doesn't seem so out of reach. But that's just been my experiences. Thanks for sharing your thoughts!

[@Jrosp2si]

This is why we need financial education and need to understand leverage, tax law, passive income and cash flow. Otherwise most people will never make it

[@Jrosp2si]

@@NextLevelLife cash (USD) is one of the worst investments there is.

[@jay13thstep]

I’m 33 years old with a £22k (guess that’s around $30k) salary and no career, all of these options feel like light years away from my reality. Just wish this stuff was taught to us all in our teens, but the ‘secrecy’ around incomes/money seems to make the topic off limits.

[@5people829]

Luckily i am 13 and learned this

[@brandonroach2097]

The people that are in control of our world, don't want us to know this. If we are making money for ourselves, then we aren't making money for them.

[@hhwin2198]

If at 35, you can still save and invest. You do have to be strict. Just go over what’s taking the biggest chunk of your pay which is usually the living situation and see what you can do to cut it down.

[@Tyler-ce3um]

I’m literally 11 and already learning about money, I’m glad there’s so many great people who teach this. My parents actually get mad when I discuss money. This needs to be taught to kids more.

[@AmbitiousPanda]

@@5people829 your still doomed

[@victorchan2654]

A traditional retirement means you have about 129 days off per year when you count weekends, holidays, vacation days (104+10+15) and people should take advantage of the 129 mini retirement days while you are young and not wait until retirement. Saving too much money may mean you are not enjoying life prior to retirement. There is no shortcut.

[@trini18alday]

Your content is consistently informative and useful. I'm actively working towards FIRE, with the intent to reside out of the US. $40k/year in West Africa equates to a pretty decent lifestyle.

[@NextLevelLife]

Shahara, that would be so cool! I'm not sure whether or not I'd personally want to live out of the US (just haven't found a place that really speaks to me yet, but maybe someday!). There's so many things to see and do! And I love how you've tied that goal into your FIRE goal, so smart :)

[@jadexplores2100]

This is part of the reason why I travel. Over time I'm trying to identify some places I might want to relocate to later in life. Hope to check out Ecuador this year...West Africa sounds great :)

[@dariusdees1352]

Same I'm working so hard to do it too. Lol I'm actually on the path to retire in like 2 years

[@JesusSVasquez]

@@jadexplores2100 40K for Ecuador is a great amount of money! With my actual lifestyle I can live up to 4 to 5 years without earning any money with that amount. (I live in Quito)

[@jadexplores2100]

@@JesusSVasquez That's great! I can't wait to visit Quito and Cuenca :D

[@666cowie]

I live this video. Watched it so many times. Thanks very much for this info. They should teach this at school

[@b.kundu16]

Does this calculation consider the medical expenses at age above 60? If yes, then how is it included ?

[@becsterbrisbane6275]

My workplace is cool for 'mini retirements' though I doubt they'd call it that! But yes, you can take career breaks for up to 3 years with my workplace- my manager actually recently told me about someone who'd ran away overseas teaching for 2 years and came straight back to their position (with a little catch up training when they got back). I love this!

[@NextLevelLife]

That's awesome Becster! Not many employers go that far, but more have been moving that direction recently. I hope it is a trend that continues 😉!

[@abhip4538]

Where do u work????

[@sariahlace5944]

That’s amazing.

[@Ran-tj2wy]

This is one of the best and most informative channels on UT Congratulations on knowing how to communicate to your audience without a lot of unnecessary talking and background music

[@dangeles95]

Daniel. I love the videos! My question is why don’t any retirement videos ever take into account that most of us will have no mortgage once we retire, which means our yearly expenses will drop significantly. Do you have a video on this?

[@n13cw]

I plan on doing things to retire early but it definitely seems like the career I am pursue ing is one of the traditional plans of retirement. Teaching!

[@vivasjimmy]

I am 37 and just got to the uSA with 25000 in savings...my plan is to invest in real state and be able to buy 4 homes between me and my wife. No 401K...

[@nickob55]

Ive been mini retiring for probably 5 years..........with a twist, I take my money and live in a much cheaper country .........and whenI am there pave the way for more extended retirements,.......I am building a food forest and formidable fuel store, plus developing online drips...Ifreelance and live out of a camper in UK and save probably 80% of earnings with no hardships

[@pepperidgefarm8010]

may I know what is that online drips and food forest

[@mrchichmagnett7761]

What I’m working towards is a fat fire retirement and a traditional one. I love my job and I’m sure I’ll keep working it until I 65-67. I don’t know what the retirement age is 😂 but you get the point. But I also want to have tons of money to where money isn’t an issue and I can spoilt myself grandkids ☺️

[@jbris16]

I'm planning to change jobs if not careers within the next five years. I am doing this through cutting as many of my expenses now. Having no debt except real estate, index investing and starting a side hustle. I'm also hoping to take a sabbatical before I make the switch. I've heard that taking this time off before making a big switch is important to focus/refocus priorities and desires.

[@NextLevelLife]

I can attest to the importance of refocusing (whether through a sabbatical or some other means) after making a big switch. Definitely worth it in my own experiences. Sounds like you are going whole haul with this plan to which is awesome to see! Do you have a job/career field in mind that you want to switch to?

[@jbris16]

@@NextLevelLifeI'm a nurse working in critical care (pretty burnt out) right now I've switched from putting most of my savings in index funds to saving for an online retail business. Depending on how things go with the retail business I'm either going to quit nursing/healthcare completely or pursue a higher education such as CRNA or MD.

[@jbris16]

I'm definitely going to need the side hustle to make the switch in any kind of reasonable timeframe. I think that once I have the option of leaving I will actually stay in healthcare as I really enjoy helping people, I will probably go back to school for more training/money.

[@NextLevelLife]

Well I can certainly understand being burn out as a nurse working in critical care (I have a cousin who does the same and the hours can be pretty crazy, especially if you are on rotating shifts!) I wish you the best of luck with the side hustle or higher education (or both!) :)

[@Excalibur2]

I think the hardest thing about retiring early for me will be the lack of medical benefits.

[@DrThunder2004]

1) See if you qualify for an HSA account. you can pump a lot of money in that to be used later for medical expenses. 2) Look for cash doctors. I haven't researched it much but apparently it is growing and has much more reasonable prices as you completely cut out the insurance company's overhead and paperwork.

[@TheGargalon]

just dont get sick

[@thebatman6201]

If youre retiring early, you can afford health insurance

[@richw8342]

Move to Australia... all free

[@Juan_Hernandez_Jr.]

Why, do you have a pre-existing illness?

[@blackbeltfinance4026]

My goal is to achieve FIRE in 5 years. Let’s do it together and learn from each other 😎🏆

[@dariusdees1352]

Best of luck to you. I'm doing it in 2 years myself. 😁 Keep up the good work

[@latheef1987]

darius dees any update? bro im planning with in 6 months

[@Kunyazaforever]

Updates? Did any of you achieve your goal?

[@DPickho1]

I like the idea of productivity of some sort...not the traditional idea of work till I'm old and not work. Years ago when I went off to college and quit the job I had because I moved, I had a hard time finding a job and the lack of structure and productivity outside of school actually drove me nuts after a month of struggling to find a job which was when the economy was still bad. Can't imagine doing the same even with a huge savings from compounding.

[@NextLevelLife]

David, that's exactly why I included mini retirements on this list. It may not be one that a lot of people take advantage of but it is certainly an idea for some because not everyone does very well with that kind of lack of structure long-term. As always, the key is to know yourself and be honest about what would work best for you and go after that. Sounds like you're well on your way! 😀

[@mleet3125]

I just found your channel today and I feel that despite having a very good paying job, that I am further behind than I thought. And I'm not sure I can get my wife on board to make the changes needed to get there.

[@tejano2828]

Im in the coasting category. Tho doublr retired military amd teacher at 50. Invest in the top 10 s&p companies and youll be alright.

[@IndianOutlaw1870]

Just say "income." "Income coming in" is redundant. :)

[@Issizz1544]

Video actually starts at 1:50

[@sanjidhossin591]

9-5 is good .....I got a job offer 8am -9pm without 2.5 hours of commuting

[@jayjackson5705]

Yup, I'm one of the lucky few who really enjoys their job. Traffic engineer working for a transit agency. Everyday is hilarious.

[@christenford3864]

Me too! I'm a RN and would do it for free ♥️

[@dancer1]

Hilarious?

[@milkncookie]

@@dancer1 set the intersection lights to red. Turn on merging lights to "manage" rush hour. Creation of the bike lane in the cities. Left highway merge on a 7 lane split. You know, transit engineer humor!

[@jennesont4791]

My biggest challenge to any of these is getting spousal agreement. We are partners in all things, including saving for retirement.

[@pawsnotclaws2772]

Jenneson T yesss

[@willm9359]

Lead by example

[@jeremyhershberger3012]

Great comparison video. I "accidentally" achieved mini-retirements and coasting financial independence at 25 years old. It is so nice to be able to work because I want to when I want to. I plan to achieve FIRE in the next 5 years. Thanks for your wonderful advice on the topic.

[@NextLevelLife]

Thanks for sharing!

[@bradbarber799]

great video. My only recommendation is to do all the calculations in present worth dollars. When you inflate the numbers it gets confusing and makes people feel its unobtainable, when in all reality it is.

[@jwerdz740]

Good content, but why no accounting for taxes? Some of these videos basically assume a 0% tax rate. And fluctuating ROI on these videos, when the historical average of indexing is 7%.

[@jamesc3009]

Work your ass off on somthing you love and then make it into your career, after that keep working your ass off and then just maybe you can get to a point were you can "retire" from your job you hate but work this job that you love. No one is going to retire at the age of 23 or anywere close to that. Even if your making millions a year. You still need money bc you are going to buy some of the nicer things in life and you will most likely run out of money. If you dont believe me then look at almost every person that won the lottery and said im just going to be smart about therr money. You need to find somthing you love doing and would want to do it for 20 hours a day for free, and thats not easy so good luck everyone that sees this and i wish you the best in your journey.

[@ChrisInvests]

I want to retire early which is why I'm focusing on my passive income sources. I just started my own channel on personal finance!!

[@Housebuyingbrian]

Interesting video. I believe the easiest and quickest way to retirement is to buy cash flowing assets like rental properties and allow the passive income to retire you. The tenants will pay off the mortgage overtime

[@abhifit]

@debunker300 thanks for quitting...thats why I own 100 rentals and get opportunities

[@StupidIsTheNorm]

Brilliant. Thank you

[@NextLevelLife]

You're very welcome!

[@mooniebo2752]

Live abroad or in an earthship and your leafire money can do miracles.

[@macnet83]

great stuff. thanks for sharing

[@NextLevelLife]

You bet!

[@rbon16]

There are two types of retirement. There's retireing. Then there is staying retired. The second harder than the first. To stay retired there's only on true way. Eliminating legacy expenses. Legacy meaning constants. Food that's, 500 k from age 45 to 100. Transportation another one. Another one is sanitary expenses. Another one is electric. On and on. Identifying ways to eliminate constants. I ride a bike to work. And I grow some of my own food.

[@pepperidgefarm8010]

Lets share the idea to cut down/ eliminate legacy expenses! Eliminating legacy expenses tricks: 1. Food: cooking, buy in bulk, go to govt food bank, snug for free food on wedding/ other party (wear proper clothes) 2. Electric: charge laptop & phone in office/ cafe. invest in solar panel & battery (high initial cost) 3. Transport: walk/ ride a bike, monthly pass for public transport 4. Sanitary: Toilet tissue for free, abuse soap/ shampoo from hotel or washroom 5. Health: ditch gym membership, get free exercise such as run or body weight training, get a free med checks, get vitamin (preventing is better than curing) 6. Clothes: spend a time for a movement, sometime free t-shirt, cap, even jacket 7. Office tools: going for a free trade-show event. Many freebies: notebook, pen, post-it note, sample product, etc

[@raybon7939]

@@pepperidgefarm8010 its all about viewing retirement from an expense point of view rather than. A revenue one which more and more I might believe might be FL awed.

[@raybon7939]

Here's a great way to look at it. Take equity a. And equity b. Equity a pays .15 cents quarterly. Very reliable steady Freddy. But you have a car, don't grow your own food. So now you are compelled to get equity b.w which pays 2 bucks but you can loose your shirt. But back to equity a. If you just buy equity a. And forgoe the car and buying some food. You can live comfortably on reliable equity a. And over time buy so much more equity a. that even when equity a takes a hit your modest life style can absorb a 1000 share loss. But since you had all these expenses into retirement you were always compelled to take a chance.

[@Ktpstudio]

This is very informative and helpful. Although I don’t care to retire early because I enjoy working, anything can happen and so making sure that I get my financial life in order is necessary.

[@NextLevelLife]

That's awesome to hear! And there's nothing wrong with not choosing to retire early even if you can especially if you enjoy working 😉.

[@Juan_Hernandez_Jr.]

I find it hard to believe that someone actually enjoys "working". Please explain why you'd rather work, than travel the world, lay on a beach, drink fruity drinks while watching the sunrise/sunset, volunteer, etc...etc....

[@icemans1matedude339]

Some people just have a niche they feel like they fit and find fulfillment in their work. It happens

[@Astillion]

I'm on the path to FIRE, and I think I'm 2-3 years away. But I've gotten laid off from my job, so I've decided to take a mini retirement before getting back to any kind of job. And when I get back I might try doing something different. And I have enough passive income to not need to take anything out of my savings while enjoying this mini retirement. But I will be cutting down my savings-rate to close to 0% for some time.

[@mercyfae7533]

Thanks for this video!

[@NextLevelLife]

No problem!

[@Kayla11113]

Well, I’m 60 so guess I’m screwed.

[@willdriver7542]

***Original*** I am striving for the FI;RE method, though I didn't know it had a name till now. The goal is in 23 years have $1.5 mil in various retirement and bridge accounts, with a paid off house. I gross $54k, save 30%, and have 3 kids. We still have cable, snacks, movies and stuff. The key for us has been, other than the house, ZERO debt payments. What are you all doing to make it? If I could use your knowledge to get done in under 23 years I would be very grateful. *****UPDATE 1 year later**** So time and research have changed a lot. We are focused on FI rather than RE since we are in our 30s. Our retirement number is now $575k, an off-grid truck conversion, and a cheep plot of land with a driveway and water/electric hook ups. Same income. We plan to reach FI in 9 years. Our current saving rate is 44% and we will be selling the house.

[@andrewb9595]

I'm not FIREd yet, but I'm on that path. My goal is retirement by age 40, maybe sooner if I can manage to create some sort of side hustle for myself. I can't give you any solid financial advise, because I'm still young and have a lot more to learn... I can tell you what my general thoughts are though. The biggest thing is lowering your expenses to as low as you are comfortable with. After that, invest all of that savings into something that is going to make you more money, this could be anything from 401k, IRAs, stock, real-estate, etc. depending on your personal situation and goals. As explained in the video, shoot for a goal of about 25-33 times your annual expenses (don't forget to include fun as an expense) depending on your desired withdrawals rate. My big light bulb moment was when I saw how much your savings rate affects how much sooner you can retire. It's not about how much you can make, it's about how much you can save. Here's an article from Mr.MoneyMustache than talks about how your savings rate correlates to your retirement date. www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ One last thing and I don't even know if it helps, but I was amazed at how much time you can cut off your mortgage by simply making your payments bi-weekly instead of monthly. You may want to look into it.

[@simoc24]

Will, good for you ;) you got a solid plan there. Nothing wrong with your plan, but there is room for improvement. Most people in the FIRE community aim for independence in 5 to 7 years or less. You either really cut deep in expenses; or go kill it with some business; or both. Either case requires some serious outside the box thinking. Improvement does not imply something wrong with your plan, good luck ;) you are already way ahead of most people around you anyway :) The trick is think like football, keep improving in both defence and offence, and treat it like a game so it is fun to think outside the box. It is easy to know if you are drawing inside or outside the line...if you are doing what everyone else around you is doing, you are doing it WRONG, since 95% of people are going nowhere with finances. Have fun playing the game :)

[@willdriver7542]

@@andrewb9595 Thank you so much. Two, things we should keep in mind. 1 make sure to account for inflation when estimating how much you'll nee to retire. 2 don't forget to include interest earned on your saving while in retirement. I am thinking 10x your expenses should be conservative earning 2-6% and the rest more risky earning 6+%. I'm sorry I cannot give a specific episode, but Phil Ferguson has a great podcast for investing, www.spreaker.com/show/phil-fergusons-tracks. Finally, as far as I know mortgage interest accrues monthly, so paying often than that doesn't change your interest. Paying more definitely will though. I have a 30 year I am paying double on, which more or less pays of the house in 7 1/2 years.

[@willdriver7542]

@@simoc24 Thank you I plan to start bee keeping as a hobby / side income this coming year. I'm currently living on about $25k a year (saving the rest), with 3 kids. I know the norm is to get a second job or freelance, but for personal reasons I will not be doing that till the kids move out (9 years for the youngest). Any ideas on "trimming the fat"?

[@andrewb9595]

@@willdriver7542 You are correct that interest on a mortgage accrues monthly, however you will still pay down a mortgage faster by paying bi-weekly vs monthly. If you pay monthly you will make 12 payments per year, but if you're paying bi-weekly you will make 26 half payments every year. Essentially making an additional principal only payment every year. If that makes any sense. I've provided a link below for the calculator I've used to determine my payoff using bi-weekly payments as well as paying extra on each payment. www.mtgprofessor.com/calculators/Calculator2bi.html

[@alaydrus89]

I don't get the difference between coasting financial independence and FIRE. Both involve saving hard and investing hard to generate passive income and thus retire. Can you please explain?

[@NextLevelLife]

Husein, coasting Financial Independence is all about saving aggressively in the first several years of your career so that it has time to compound for you to truly retire fully at a more "regular" age while allowing you to possibly take a lower-paying but more fulfilling job or start a side hustle with similar aspects in the present, as opposed to staying at your current higher-paying but possibly more stressful job and saving aggressively for a few more years to become financially independent earlier. They are similar in many respects as the end goal of both is to achieve true Financial Independence the difference is in when they are achieved and how long one aggressively saves to achieve them. Hope this helps!

[@sedatmehmed4371]

The idea of mini retirement is not new at least as on examples you give. In Europe we have mandatory annually leave (or vacation i don't know what is the correct term) of roughly 1 month per year and in Belgium treasury department pays you roughly two months salary for that vacation (example: if your normal salary is 2000 euros monthly you take just a bit less than 4000 euros for the vacation). So everyone has those mini retirements here by law (labor law requires you to have 20 working day of annual vacation)

[@torarvidkristiansen643]

In Norway we have 5 weeks "mandatory" vacation, plus public holidays of with pay if they fall on a weekday. Employers must set aside 12% of your gross pay every year to be paid out the next year in june before summer vacation. I guess it works out much as the way the do it in Belgium.

[@sedatmehmed4371]

@@torarvidkristiansen643 Exactly

[@micaiah110546]

Your content is incredible!! I was really surprised that you didn’t have half a million subs. You’ll blow up real soon, keep putting so much effort and thought into each video. It’s incredibly effective! Thank you for such clear, real advice! I intend to be a loyal subscriber as long as you’re posting, good sir.

[@NextLevelLife]

Thanks for the support, Micaiah 😀!

[@micaiah110546]

Next Level Life Of course! You deserve it. I already consider you a new mentor 🤟🏼 Thank you for putting in your own time just to share this valuable knowledge with others. Also thanks for the reply!

[@shad0wyenigma]

Two words "Millionaire Fastlane". Highly recommend this book by MJ Demarco.

[@NextLevelLife]

Am reading it now. Might do a video on it 😉

[@shad0wyenigma]

@@NextLevelLife Yes Please. Thank you for responding :)

[@shad0wyenigma]

@@NextLevelLife His most recent book, Unscripted, is very good aswell.

[@discorabbit]

You mean my 7-5 job.

[@legendary_blackguy]

I really enjoy your channel

[@NextLevelLife]

Thanks David!

[@mustang331]

In Oregon all you have to do to retire is quite working. Then you will get free health care and tons of other free benefits.

[@discorabbit]

Are you considering taxes in these calculations?

[@rubikfan1]

In the Netherlands every get money when reaching 67. It just enough for living(depending who you ask). On top of that if you work for some1 they need to pay a pension(a few % of your wage). Than the big pensions invest for you. And you get it back later when you are old. This way you dont need that much own money. Although having your own money makes it a bit more luxery

[@ggermany2123]

As of this month for the year, my expenses has been under $13k. My goal is to be under $15k for the whole year.

[@jespreetchauhan8347]

Thank you for making so informative videos ! The awareness on money matters is very important for all of us. We really appreciate people like you showing us paths.

[@steffybelizzz9665]

Account for taxes? Yeah I agree with the buffer, I love myself some buffer space because "life". Great video though

[@NextLevelLife]

I whole heartedly agree!

[@willdriver7542]

My job has taught me to always add 20% to any time / cost estimate. I have found this true in normal life as well as work.

[@NextLevelLife]

20% would be a solid buffer I think! I used to use 30% but that was mostly because I was always cautious when it came to estimates, most of the time 30% ended up being more of a buffer than I needed in my experience 😉.

[@Remyueru]

Where are the Dave Ramsey crew?

[@Peppermon22]

Juniper Lemuel Jingco live like no one else, so you can LIVE like no one else.

[@TheMatejus]

I have a problem with finding a 9-5 job!! Please find me one I will be greatfull..

[@NextLevelLife]

Engineered Truth is a good KZbin channel to check out for that. He has a lot of great tips for job hunting. More than I do anyways 😉. Unfortunately it is a bit outside my area of expertise.

[@akshaynanjangud2283]

Thanks so much!

[@NextLevelLife]

You are welcome!

[@mrj1299]

Nicely done.

[@NextLevelLife]

Thanks!

[@Ritternkreis]

The best and most secure to get retired if people is up to the challenge. Retire in a foreign cheaper country. That way you have both a comfortable adult life and retirement. Yes, now you argue about Family visits. Well, nothing is for free, right?

[@ismaelhall3990]

good

[@lavayuki]

The retirement age where I live is 68, and going to increase to 70... I find that really old and want to take early retirement in my fifties. My mum took early retirement but my dad is a surgeon and loves his job so he'll probably work til 70

[@NextLevelLife]

Nothing wrong with that 👍

[@ligbzd837]

Don't follow the traditional retirement; it's way too long and you could be dead before you reach the retirement age. Share housing with family/friends, split all costs, live below your means, and save as much as you can... The goal here is to retire as early as possible to truly LIVE YOUR LIFE.

[@andrewb9595]

Great video! I see a lot of similarities to my own financial situation in the coasting retirement scenario, although I will be combining it with LeanFIRE and a 3.5% withdrawal rate. Another thing about the coasting retirement strategy is that it could also allow someone to switch from the higher paying job they have now, to a part time job which can kind of ease them into full retirement and will let them recharge their batteries more every week.

[@NextLevelLife]

Definitely 😃! And it sounds like you are on the right track!

[@willdriver7542]

That's a great point thank you.

[@TheGargalon]

In some of your videos you mention funds that pay 8-10% annual interest. Can you give an example of one such fund? :D Seems a bit unreal to me, but I'm not an expert.

[@baxster80]

Hes talking about an average 8-10% interest per year over many years..so some years may be up 20% some might be down 10%, but the AVG over 20 or 30 years is 8-10%

[@TheGargalon]

@@baxster80 I don't think that's the case. While the value of your initial investment might go up and down (-10%, +20%), the interest rate is relatively stable. 8-10% is the market average for the last almost 100 years, but that's just investment value growth, it can't be compounded. My question was specifically about a fund, which pays interest of 8%.

[@geoyaj1042]

SP500 or VTSAX

[@annajones9701]

Any total tech fund

[@Doors067]

Easy find a job you like, then it goes by quick. I feel like im at work for 8 minutes rather then 8 hours

[@TuLumenTeGloriari]

woot!

[@WestlyLaFleur]

Not relevant to me, as I'd like to achieve the most expedient version of financial freedom possible. Good content nevertheless. Thank-you!

[@NextLevelLife]

Thanks for sharing!

[@raybon7939]

If your born 60-78 you've worked long enough. It really is time to retire.

[@lanctermann7261]

ray bon I was born in ‘60. You are so right!!!

[@raybon7939]

@@lanctermann7261 less your doctor lawyer engineer somebody like that or making over 100,000 k. All your doing by working us to 62 is turning us into a future medical hardship or slow liability. What they should do is create a accelerated fund like a special IRA with no with draw to like 2030. of like 25 percent revenue. tax free for generation x. So we can retire the heak early.

[@shaolinpowerranger5008]

Born in 78 would make you only 41 so bit early to retire . Deffo should have the money to retire by 50 tho

[@oakintola8714]

@@shaolinpowerranger5008 I was born in 79 and I am FI and doing very flexible work mostly from home. It is ok to work full time to 80 if you enjoy it in non-toxic situation.

[@andre1987eph]

Play at 2x speed

[@christopheryoung2368]

creative*

[@xaapt]

Hi is just making popular video and have no idea about investing.

[@inezneal7258]

I kinda want to work especially with companies like Facebook and Blizzard...but I have beaity and gealth issues and don't want to miss out on new discoveries that I find iskng my most valueable asset. Time.

[@Ourfairduke]

Just get a job that pays 20-30k over the median :^)

[@nickysphillyscateringco4842]

I am more confused 🤷‍♀️

[@BuySmartChannel2700]

I dunno but i just wanna make enough passive income so i could say "F.U" to my employer and live my "laptop lifestyle"

[@KienNguyen-qf7kw]

I dare you to give me an example of a place that give 8% even 6% return without huge risk. I double dare you. :) And that has not counted for taxes, which make returns 2/3 of that.

[@willm9359]

Kien Nguyen ... s&p 500 index fund total return?

[@JJDK485]

It’s possible but very very very hard. Sorry but you only speak for some people

[@Felixxxxxxxxx]

First

[@darrin4863]

THUMBS DOWN SIMPLY BECAUSE THERE'S TOO MANY COMMERCIAL INTERRUPTIONS! EVERY 4 MINUTES?? I STOPPED IT BEFORE IT EVEN FINISHED.

[@rgood1204]

Broke eh?

[@YourMajesty143]

Do what I do. Pull the bar all the way to right before the end. Let the video play the rest until it's complete. Then pull the bar back to the beginning. Boom, ads are gone. I only do this on videos that have 8 ads in a 15 min video. But this one, I didn't mind supporting bc the content is very good.