Know From My Clients Who Retired Early With Confidence | SPECIAL EPISODE
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- čas přidán 27. 06. 2024
- My amazing clients, Scott & Rhonda Cassell, retired early with complete confidence. They share how their parent’s retirement influenced their decision to retire early and what they wish they had known along the way. I hope you enjoy it.
Do like this and comment if you’d like a part two in the future!
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Timestamps:
00:00 - Introduction
00:10 Intro & Backstory
00:33 #Question-1 - What were your biggest fears about retiring early?
05:45 #Question-2 - How did you adjust for so much free time?
09:12 #Question-3 - What are some fun stuff that they’re excited about in their retirement?
11:00 #Question-4 - What aspects of your old work life do you miss?
13:15 #Question-5 - What was the process you used to leave the job and come to retirement?
17:17 #Question-6 - How did the age gap factor into the retirement decision-making process?
20:47 #Question-7 - what was the time when you decided that it was the right time to start saving for retirement?
26:00 #Question-8 - What advice would you give to your 50-year-old self about retirement?
30:56 #Question-9 - How did they come up with the decision to hire Root Financial as their early retirement financial advisor?
39:30 #Question-10 - What would you recommend to someone who is planning their early retirement?
45:00 Conclusion
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Ari Taublieb, CFP®, MBA, is the Vice President of Root Financial Partners (Fiduciary) and host of the Early Retirement Podcast.
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Thanks all for the nice comments. Ari put together some really good questions that we quite honestly would have loved to have heard feedback on from current retirees when we were in our planning years.
That's a great idea! I'll try to get those insights next!
Thanks for sharing your story!
Thank you guys so much for your time and perspectives!
I'll be happy to get my mind back. My Wife always says that I don't listen because my mind is somewhere else. As a CFO, I've had 40 years of long hours, tight deadlines and high stress. I will be free later this year.
Glad you're taking your time and I wish you a stress-free retirement :D
This couple is adorable.
Yes they are!
SEEING REAL PEOPLE DISCUSSING THE RETIREMENT STRATEGIES MAKES THIS VIDEO ENTERTAINING!!! DO MORE OF THESE TYPES OF CONTENT. THANKS!!
I love this couple. They are so aligned and mutually supportive. ❤
Indeed, they're aligned!
Very very powerful to hear real folks talk about this. Thank you so much for sharing this. Maybe I can ask something and I'll appreciate you not necessarily replying here (tho I'll be happy if you did) but perhaps make a video on this too. What concerns me TONs about early retirement is medical expenses. I'll explain: While it's relatively "easy" to estimate my expenses based on my lifestyle, it's totally unclear what my medical expenses be. When young, you're not consuming/paying so much but that can explode. I dont know enough about Medicare and even if supplemented it, still unclear what to expect as far as expense. This has a HUGE impact on what is the "dollar figure" i need to achieve to afford retiring. This makes sense? THANK YOU Ari !!
I'll surely make a video referencing healthcare soon!
I retired from federal govt at 58... I am super happy to be able to be in this position. I wish I had focused more on contributing to my TSP.
Good for you. I retired December 2022 and had to go back to work to help my mother.
This interview is really really good. It addresses the psychological aspect of retirement. It really resonates to a lot of "to be retirees". I enjoy watching and learning from this interview, and no, I didn't fall asleep during the whole interview. Great job Ari and thank you for sharing so candidly The Cassells.
Thank you very much and it was very kind of them to do this with me.
My story is very similar to their story, including the age difference...and I drive my wife crazy with retirement talk. We made the decision to pay off all our debt, including the mortgage, then book it to the finish line. We're now in the "book it" phase.
Ari, I really found this video very helpful and enjoyed Ronda and Scott sharing their experiences. Thanks Ari, Ronda and Scott!
Glad it was helpful!
This was so helpful. I really appreciate hearing from people who are working with you and benefiting from the experience.
🎉
This was excellent. What great people. I would love to see more of these with people further into retirement say 5, 7, and 10 years
Great video!! Love the honesty from Scott and Rhonda and sharing their thought process with us
Great video- very informative to hear a first hand account of their situation. I like the idea of 3 budgets- I’m definitely going to use this helpful tip.
Glad you found it helpful!
Scott and Rhonda did a great job! They are both well spoken and informative.
We agree!
Great couple. Thanks for sharing your journey.
Thanks for watching!
I like your and Jim’s previous videos, but this is different. Some more of these type from both of you guys would be great and helpful.
Great feedback. Thank you!
Love this format Ari! Very insightful hearing from early retiree themselves! Please ask about their solution for healthcare, that’s the biggest hurdle in my opinion to be able to retire early.
My wife is now on Medicare, a supplemental plan and a prescription plan. I am currently using a health cost sharing plan, and plan on remaining enrolled in this until I move on to Medicare. I did a lot of research, and if you are healthy and do not have ongoing doctor or hospital visits it may be an option. Cost sharing plans are not for everyone, since you pay out of pocket and then are reimbursed, rather than traditional health insurance. It does qualify as a federally certified healthcare option. If anyone would like more detail on our current setup, just let me know.
@@scottcassell3387 thank you for replying! Much appreciated, love your transparency!
I'll surely make a video referencing healthcare soon!
Very good podcast! I very much enjoyed meeting your clients, Scott & Rhonda. They offered some very good insight to others who may be considering early retirement.
Glad you enjoyed it!
What a cute couple! Thank you for sharing your story!
I thanked them as well!
This is one of the best videos, nice and valuable.
I’m glad!!
Love it! Just buy the candy bar!!!😂
I like to see this, you should do more of this.
Thanks, will do!
Excellent episode
Thank you!
Thank you all for sharing your experiences.
Thanks for watching! It would be great if we can earn your subscribe :)
I Retired at 61 🎉 July 4th. Independence Day 🎇🎆🎇 I took the summer Off! And went back to work PART-TIME a full Healthcare ! I have a pension so PT is about the same as I was making on Full time. I live alone, I like that but working gives me some social interaction but keep it casual. I will do this until I don't want to anymore? My Part-time income is about what I will make on Soc Sec so I'm practicing? I cud start getting Soc Sec in April so every month I work allows me to delay it and increase the amount it will be?
Keep doing this Ari
🤘love it
We're glad you enjoyed it!
Ronda was working past full retirement age.
I don’t see retiring around age 60 as “early”. I’d think mid 50s or younger.
I call an “early retirement” anytime before age 65.
I retired at 61 in July🎉 and took summer Off! 😎 then returned to work Part-time in Jan as was planned. Am receiving a Pension as income is about the same as Full-time and will be about the same as on Soc Security as i am transitioning into full Retirement probably after this year? Or until i dont want to do it anymore?
Glad you enjoyed it!
What age do you consider early retirement?
Between 50-65
@@earlyretirementari crazy question but what about 40-45?
Promo sm
This is a classic case of people not understanding the time value and exponential growth of money.
Had he put that money in retirement instead of the mortgage he’d be much further ahead. You can always pay off the mortgage with your investments. But you can’t get that time in the market back.
I would counter that your response is a classic case of basing every possible decision on finances alone, when life is about much more than that. For us there were a series of milestones that we wanted to hit and one of the last, main ones was being fully debt free before retiring.
Obviously, strictly financially speaking, investing and getting a 6-8% return plus compounding interest would outweigh the 3-4% interest being paid on the mortgage, but our overall positive feeling on paying off our house went a long way towards keeping our steadfast resolve to maintain our plan. I don't feel you can put a price on that.
Sorry you didn't find the comments helpful, but everyone needs to find their own path.
@@scottcassell3387well said. Everyone's situation is different. What may work for one person may not work for another. Congrats on your retirement. Continued health to you both!
In case you didn’t notice they were able to do both. They were able to invest, retire, and paid off the mortgage. It’s all about balance and not having all your eggs in one basket.
@@scottcassell3387makes all the sense in the world to me ... good luck to you both ...