473 | Are We There Yet? 'Retire Early' Case Study
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Description
In this episode: calculating when you retire, tracking expenses, health insurance, the importance of planning, and health spanning. This week we are rejoined by Teresa as well as Fritz Gilbert of The Retirement Manifesto to walk us through a case study of how to approach retirement while on your FI journey. It’s a common question to ask when you can retire or when you can stop working? Luckily there are plans of action and resources available covered in today's episode that will leave you feeling better prepared to proceed with a plan for retirement, no matter what part of your FI journey you are on. While there are many factors to consider when planning for retirement, such as savings versus spending rate and repositioning your portfolio, all these factors are manageable when you have a good plan in place. Take the time now to feel confident for what life will be like leading up to and after you retire! The Retirement Manifesto: Website: theretirementmanifesto.com Book: "Keys to a Successful Retirement:  Staying Happy, Active and Productive in Your Retired Years" by Fritz Gilbert Case Study: From Food Stamps to FIRE: A Case Study on Retirement Planning Timestamps: 1:33 - Introduction 2:37 - Calculating When You Can Retire 7:46 - Does Retiring Early Effect Social Security? 15:06 - Tracking Spending and Expenses 20:55 - Health Insurance in Retirement 29:49 - The Importance of Planning/Changing Your Assumptions 40:17 - One More Year Syndrome/Your Health Span 45:00 - The Second Phase of Retirement 49:51 - Conclusion Resources Mentioned In Today’s Episode: From Food Stamps to FI | Theresa | ChooseFI Ep 453 New Retirement SSA Tools Open Social Security SSA.gov How To Determine When To Claim Social Security (Retirement Manifesto) The Retirement Manifesto Net Worth Template "Outlive: The Science and Art of Longevity" by Dr. Peter Attia with Bill Gifford What Happens When The Paycheck Stops? – Keys To A Successful Retirement With Fritz Gilbert (Part 1) | ChooseFI Ep 206 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)
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