EPISODE · May 7, 2024 · 31 MIN
How to Know When You Should Stop Saving for Retirement (and What to Do Next)
from Ready For Retirement · host James Conole, CFP®
Drew, a burnt-out, financially responsible 40-something father of two, hopes he can scale back from his stressful job and still be okay when it’s time to retire. James offers a practical and philosophical take as he tackles Drew’s question. He demonstrates how to determine when Drew and his wife will be in a good position to fully retire. He also challenges listeners to assess their spending and saving habits and to strike a balance between planning for an unknown future while still finding fulfillment, freedom, and purpose today. Questions answered:How can I determine if I can stop saving for retirement?What introspective questions should I ask now to help me live well pre- and post-retirement?Timestamps:0:00 - Drew’s question2:07 - Two mindsets6:08 - Assess current and future needs7:33 - Projection exercise11:28 - Working backwards14:50 - Working 10 more years18:21 - Back to the initial question19:47 - Considering growth rate21:38 - A philosophical question23:52 - 3 Levers26:07 - Check spending/saving habitsCreate Your Custom Strategy ⬇️Get Started Here.Join the new Root Collective HERE!
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Drew, a burnt-out, financially responsible 40-something father of two, hopes he can scale back from his stressful job and still be okay when it’s time to retire. James offers a practical and philosophical take as he tackles Drew’s question. He demonstrates how to determine when Drew and his wife will be in a good position to fully retire. He also challenges listeners to assess their spending and saving habits and to strike a balance between planning for an unknown future while still finding f...
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How to Know When You Should Stop Saving for Retirement (and What to Do Next)
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