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Ask Paula: What’s the Point of Financial Independence if I’m Not Going to Retire?

Ask Paula: What’s the Point of Financial Independence if I’m Not Going to Retire?

FromAfford Anything


Ask Paula: What’s the Point of Financial Independence if I’m Not Going to Retire?

FromAfford Anything

ratings:
Length:
59 minutes
Released:
Aug 12, 2021
Format:
Podcast episode

Description

#332: Ginger’s financial independence (FI) number is $2 million, but she doesn’t want to fully retire early. Once she hits ‘coast’ FI, she wants to 1) buy her time back with outsourcing, 2) take a mini-retirement, and 3) buy a vacation home. Does it make sense for her to divert retirement contributions to these goals, or should she aim to save $2M? Wilson plans to have a two percent withdrawal rate in retirement. Given this low rate, should he go all-in on stocks? Or should he split up his retirement funds and invest one half conservatively and the other half aggressively? Jennifer has a low-stress doggie-daycare, but she needs a bigger space to scale up. How the heck can she find a property to suit her needs in Austin, TX? My friend and former financial planner Joe Saul-Sehy joins me to answer another round of listener questions. (If you have questions on business, money, trade-offs, financial independence strategies, travel, or investing, leave them here and we’ll answer them in a future episode.) For more information, visit the show notes at https://affordanything.com/episode332
Released:
Aug 12, 2021
Format:
Podcast episode

Titles in the series (100)

You can afford anything, but not everything. We make daily decisions and create habits around how to spend money, time, energy, focus and attention – and ultimately, our life. Every decision is a trade-off against another choice. But how deeply do we contemplate these choices? Are we settling for the default mode? Or are we ruthlessly optimizing around a deliberate life? Are we creating financial independence, early retirement and debt freedom? Are we managing money wisely? Host Paula Pant interviews a diverse array of entrepreneurs, early retirees, millionaires, investors, artists, adventurers, scientists, psychologists, productivity experts, world travelers and regular people, exploring the tough work of living a truly excellent life. Listen to her interviews with Clark Howard, Gretchen Rubin, Cal Newport, James Clear, Chris Guillebeau and Dave Ramsey daughter Rachel Cruze. Want to learn more? Download our free book, Escape, at http://affordanything.com/escape