early retirement Archives - Page 4 of 5

May 31, 2021May 29, 2023

Six Important Reasons Not to Retire Early

When I first discovered financial independence, the thought to retire in my 30s warmed my soul like a batch of hot stew on a late February night. If I could rely on the wondrous and fantastic powers of compound growth to build a bitchin’ snowball of money, I’d never need to work again.

And it was never about the money. It was about the life. I yearned for a life spent in pursuit of passion, surrounded by a vibrant and meaningful community, with copious time to immerse in nature, climb, travel, and most importantly…sleep. The rigid and mechanical pipeline of school to work was cracked and beginning to leak.

So, what’s not to love?

April 12, 2021March 19, 2023

The Bold And Beautiful Roth Conversion Ladder

Hi. Good morning. How are you? I’m excited this week to bring you a much more in-depth analysis of the Roth Conversion Ladder, a method used to spend retirement money early without penalty and with little to no tax burden. I’ve already talked about this method here, here, and here, but I decided this very important topic needed its own special post.

Changing subjects momentarily, I get a real kick out of directly translating ridiculous American expressions in other languages. For instance, when in a German grocery store in 2018, I suddenly wondered if German lovers addressed each other as honig, the German word for honey.

Honig! I’m home!

See, isn’t that fun?

This week we will investigate the intricate web of methods designed to spend the money you’ve saved. It’s not all milch und honig.

April 5, 2021April 5, 2021

Six Lessons From a Year Without a Job

I almost didn’t write this post. It’s been such a strange and bizarre year that I didn’t at first consider it representative of the typical “early retirement” experience. Upon further reflection, however, I realized that life—just like those “irregular” regular one-off expenses—is typically atypical. It’s still life, just without a job.

With so much information about self-care, wellness, early retirement, and a life-by-design, I’ve had a lot of time to sift through the noise. And shockingly, perhaps I don’t recommend retiring early.

Here are some lessons from one year without a job…

March 29, 2021March 29, 2021

Your Questions Answered: Volume 2

This week we’re taking another look at your specific questions. Today we examine the thorny subject of income and how much is needed to pursue financial independence, how we fund our lives without a job, the best option for medium-term saving goals, some discussion of real estate investing, and a requested expansion on last week’s post about emotional fragility, plus plenty more.

Here’s what you wanted to know…

February 19, 2021February 19, 2021

Interview with Mr. Clipping Chains at the Frugal Professor

Howdy folks, after last week’s interview with the Frugal Professor, we decided to exchange stories. He sent me some great questions, and I wrote a whole bunch of words in return.

February 15, 2021February 15, 2021

The Frugal Professor: Let’s Get Deep in the Weeds

Alrighty, folks. This week I’m pleased to bring you a low-down-and-dirty financial deep dive with climber, writer, father of five, and lover of personal finance: The Frugal Professor. In this interview, we hold our breath and plunge into complex issues surrounding actually spending all this money we save for periods of no traditional income, meanwhile navigating the treacherous, shark-infested waters of the US healthcare system.

I’ve always said that saving and generating wealth is shockingly simple once some key concepts are understood, implemented, and doggedly followed, through thick and thin. And I’m sticking to my story.

What is not so straight-forward, however, is threading a very fine needle on living off the money we’ve saved. In a period of no traditional income⏤call it “retirement” if you want⏤we shouldn’t be just selling shares and calling it a day. We have to optimize healthcare spending, minimize taxes, and avoid early withdrawal fees and penalties meant for a much more traditional retirement.

But with a little planning, it ain’t no thang.

Let’s roll up our sleeves with the Frugal Professor and get a little dirty, shall we?

February 8, 2021August 9, 2021

Your Questions Answered: Volume One

This week I decided to dig through my emails and finish answering some questions.

In this post we take another look at investing now vs later, the dynamics of financial independence without retiring early, housing and home ownership, more on day trading and investing apps, what the hell I do with my time, and much more.

Here is what is keeping you guys up at night, or at least spurring mild curiosity.

February 1, 2021February 10, 2021

The Wondrous And Fantastic Power Of Compound Growth

(And Why It Doesn’t Pay to Wait)

It’s so easy to assume that saving, investing, and even considering a retirement is something to do later. Unfortunately, well…no. We don’t need board room salaries or country club memberships to consider a retirement. But we do need an ally. And who can we put on our side of the ring? Compound growth.

Today we delve into the concerning data behind millennial retirement planning, some misconceptions on what retirement should be, and the shocking power of compound growth and how it can, quite possibly, save us from ourselves.

October 26, 2020October 25, 2020

Contentment: The Greenest Grass of the Them All

I’ll admit. I thought that quitting my job would lead to hours of newfound productivity. I will write for hours. Now I’ll double down on web design skills. I’ll climb more, and I’ll rest more. I’ll dust off my 15-year-old gear and start writing and recording music again. Once I don’t have a job I’ll truly find contentment.

The truth is, I’m largely the same guy I was in January, weeks before I walked away from my job.

Is that a bad thing?

May 25, 2020May 24, 2020

What It’s Really Like to Not Have to Work on Monday

We started working intently towards financial independence in 2015. Less than five years later, we crossed the finish line. I pinned the merit badge on my flair vest and decided to call it quits on the corporate world, just as COVID-19 was quietly putting the world in a strangle hold. A few weeks later, the stock market crashed, and along with it, our net worth. Is waking up each Monday without needing a job as great as it seems? Am I just running from something?

Well…maybe.