How I'm Going To Retire Early - Retirement Isn't An Age, It's A Number

Would you ever say ‘I’m going to buy a house at age 30’ - or would you say ‘my goal is to save enough money to be able to buy a house at age 30’? The answer is probably the latter, right? It’s great to set a goal based on a specific age, mostly because it gives you a timeline and something to work towards - but, you’re only going to actually hit that goal ‘on time’ if you take the steps needed in the years between now and then - it’s not just a given that it’s going to happen because you say it is.

Sooo, why don’t we treat retirement the same way? In this video, we break down how we all seem to think retirement will happen, no matter what - life is about working hard, then getting to take a break. But really, life is about making money - not just for you to spend now, but for you to spend in the future, too.

0:00 Retirement is an number, not an age
1:29 You’ll live long enough to ‘retire’ (most likely)
2:56 You retire off of money you saved when you were younger
5:14 Not everyone can save for retirement
6:30 How to calculate how much you'll need in retirement
7:41 ‘Saving’ for retirement is actually ‘investing’ for retirement
9:38 Balance is ultimately the key

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Disclaimer - This content is for education and entertainment purposes only. Steph & Den do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.

[stephandden]

Retirement isn't an age, it's an amount of money - but how much money? We think this is so important to know (and especially when you still have time to do something about it). If you agree, go give this video a like up above and tell us your thoughts in the comments!

[FinancialFreedomLifestyle]

Retirement Isn't An Age, It's A Number! That's brilliant and 100% a fact. My wife and I were able to "retire" at the age of 28.

[FIRE_DrNinjaTurtle]

Steph is speaking slower. I can see that your channel is improving. I love watching the growth.

[ryanchinh]

I am 35 years old now I achieve my fire movement 2 years ago at the age of 33 years old. I bought new home build 2 months before I retired. 😊

[yogibeark]

I am 53 and never owned a house in my life. I have never seen the point if filling up all that space with junk. So, my 12ft by 12ft does me great for now. I retired at 47.

[RockyMountainGardener]

Great video! Love how you tied in self empowerment of educating yourself of how retirement really works and discussed that many people don’t have the means even to save.

[aidaretta]

Love all your videos, they are such a great resource. Would love to see one about how you two share/split your finances, if there isn't one already!

[stonecoldhitman]

Another quality video! Great explanation!

[profitsdaily]

"There is no traffic jam along the extra mile." --Roger Staubach

[CJ-fhxq]

My parents are "retiring" next year. My dad is about to turn 50 and mom is 46. They ran the family restaurant since their mid twenties and invested their money in real estate and stocks.

[momohcalvin]

Thanks 😊 guys this refreshing to watch.

Please can you do a video on how a Canadian can set up an ETF account such as the S&P 500? If you have video on this already kindly reference it….. thanks 🙏🏾 again for the content much appreciated

[cyclingonplants]

Great video! I was a late starter and really didn't start saving because I wasn't in the position to until 10 years ago I needed to free myself of debt first. That being said I've been able to save about 70% of my income in those last 10 years and this makes a huge difference to my retirement savings pool. I just want folks out there thinking they missed the boat to know that it's not too late. Meet yourself where you are and do what you can to beef up those savings.

[blooms]

What in the world just found your channel and it is so so soo good. Wow so helpful!

[Genzmillenial]

A lot of people hope their kids will pay for them in their retirement

[Odelayderado]

You used to go to my primary school and I used to have the biggest crush on you maybe you’ll remember me and it will give me away but maybe not i didn’t go to high school with yoh any who just wanted to say your looking great and your videos are neat happy to get to see you again in one way or another all the best :) if you know you know shhhh 🤫😉

[TheFirstRealChewy]

You need to save and invest as much money as you need. You can always save and invest as much money as you want.

When you are young you can invest less and see it grow over time. The downside is that you are likely earning less, and also haven't figured out your monthly expenses in retirement (likely to increase). However, if you can make $5K/mo. after taxes in retirement you'll be fine. That is assuming you don't live in a high cost of living location and your house is paid off. Want a more lavish lifestyle? Aim for higher.

Don't forget to account for taxes and inflation. Not accounting for either can derail a seemingly good plan. I'm conservative when it comes to anticipated returns on our investment. The best case scenario is for things to go much better than planned, hence putting us in a position to retire early. Whether we retire or not will be another decision.

[jogginboy]

I posted a comment a few days ago and it was taken down. Nothing objectionable, just a suggestion of someone else suggesting a FIRE approach to investing that I follow. Hmmm. 🧐

[karenorgan]

4:15 Canada is opening up MAiD to more things, I think that is our plan, I think mental health and economic situation has gotten people signed off on dying … like anyone age 55+, can they be hired? So there’s a bunch of people entering retirement age, can any of them get a job? Can they work a job? I don’t know, I’m 48, some bouncer tapped danced on my back in ‘97, I won $21k and paid out $11k in lawyer fees, but now I can’t stand for 8 hours … I suspect we’ll simply have more euthanasia … Will it be $0.50 like in futurama? Not sure, I’m presuming medicare will pay for it and we’ll get like a 90 day turn around. ASD diagnosis though was a 2 year wait list

[isthismylife]

How much do I need to have to retire at 50 year old in Canada in 2050 ❓

[jamesu]

*NOTE* in 2023, $3mil is the new $1 mil, $7mil is the new retirement goal minimum, think of inflation/compound interest (for/against you), when you're 65 (2055y for me) $1mil will be nothing. Stop telling people the 4% rule and $1mil retirement (it's dead, you need to be doing more). Everyone reading this remember most of these ytubers talk in today's amount for tomorrows goals. Just food for thought. Do your own research and own assessments there is enough free information you don't have to buy a single course / book out there to gain knowledge.