Mindset Shifts You Need For Achieving A Successful EARLY Retirement!
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- čas přidán 16. 06. 2024
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Many individuals worldwide desire early retirement. Achieving early retirement is a significant milestone that requires meticulous planning and, more importantly, mindset shifts.
In this video, I'll share the Mindset Shifts you need to achieve a successful early retirement!
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Timestamp
00:00 Introduction
01:37 The Challenge of Feeling Confident in Retirement
04:22 Changing the Investment Perspective
06:15 The Importance of Good Financial Planning
09:41 Different Perceptions of Risk
10:02 Balancing Financial Goals and Comfort.
14:02 Conclusion/Summary
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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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⚠️ "DISCLAIMER:⚠️
All content is not to be received as financial advice, and each individual should consult with their dedicated financial planner, tax preparer, estate attorney, etc., before making any financial decisions.
This video contains content I created and got permission from its creators to use. This Channel DOES NOT Promote or encourage Any illegal activities; all contents provided by This Channel are meant for EDUCATIONAL AND ENTERTAINMENT purposes only.
Thank you, Ari! You put a new spin on the Roth conversions for me with your example of the Apple stock. Before now I only thought of Roth conversions as something to do in the “gap years” in early retirement - to do that at a low tax rate (“filling up brackets”). Your example made me see that there are times very specific to the holdings within the IRA that make sense as well such as when your (Apple) stock goes low. 👍
You are so welcome!
Thanks Ari, the information that you provided was very helpful and very easy to understand!
I really appreciated the information about Roth conversions. I will be keeping that in mind as market corrections occur. Thank you for sharing all this information. It is very beneficial.
Pleased to hear that!
This resonates with us. We have fun spending now where we spent freely before and lived paycheck to paycheck. We became intentional spenders and are now debt free and on our way to early retirement!
That's a great call!
As always, this was a very informative video. Thank you for speaking on equities.
Glad you enjoyed it!
Ari, I’m a big fan!! I’m 53 with $1.65 million in 401K and $330K in Roth IRA. I’m seriously thinking of Rule of 55. My question is if i became a client of ROOT do I keep my portfolio in Fidelity? Or do I have to move it to another custodian that you guys work with?
We prefer custodians that don’t create conflicts of interest.
For example, if I worked at Fidelity, I’d likely recommend Fidelity products because it would pay me a greater commission (this happened to my parents).
We like custodians like Altruist that don’t make products, and we can keep the same investments (even Fidelity products which are NOT bad).
I never want a client thinking we recommend one product over another for compensation purposes. Does that make sense?
@@earlyretirementari yes it does however I have chosen my Fidelity funds. Fidelity is merely the vehicle that my employer has partnered up with. I don’t rely on them for any advice. Thank you for your response
@@jameschaves5723 of course. That makes complete sense to me. It may make sense to work with us once you’re close to retirement and have the option to invest however your funds as you see fit. I don’t want you overcharged working with an advisor if they can’t do holistic planning for you (unable to manage funds).
@@earlyretirementari you can count on that 👍👍👍
We wish we could do the rule of 55, our 401k & 403b do not have that provision. Instead we have to build a bridge account to get to that 59.5 age!
Great summary. Just scheduled a call with you for June!
Looking forward to it! Thank you for your patience in terms of my availability.
Thank you, I learn a lot from you
Glad to hear that!
Well said
I appreciate it!
Does plan administrator need to allow the rule of 55, or it just an irs rule?
Plan admin.
Why am I not having millions of dollars more in my 80's?
I would say we are each different but to me that is loosing. Risk to me is not reaching my goals of a comfortable and stress free retirement.
Been a DIYer most my investing life of 25 years because of a core belief that costs matter. I know that retirement or decumulation is an entirely different animal but costs or annual fees paid to a financial planner will still matter as it’ll drag future returns down. By watching several YT videos like yours and reading books, I’ve come up with a plan but it’s just in my head. How can you convince this long term investor to pay fees going forward in the next 25 years?
The majority of my clients don’t want to manage their portfolio, read tax law, nor optimize withdrawals. Much of planning can be quantified, but I find the true value is peace of mind and delegating to a professional. I’m not of the belief everyone needs an advisor, and you may not. Most of my clients say “wow, I didn’t know what I didn’t know” or “I know enough to be dangerous”.
@@earlyretirementari Thanks for your candor! Paying for peace of mind and sound guidance can truly be worth the value of financial advice.
Are you 12?
Thank you..