Can You RETIRE NOW? | The RULE OF 25 for Early Retirement #85

Can you retire now? How do I know if you have enough money to retire? If financial independence early retirement is important to you, stay tuned. Today, we discuss the retirement Rule of 25 and how to accelerate getting to that financial independence number. We ask 6 questions to help you answer the question, can you retire now? We delve into the rule of 25 for early retirement. Whether it is debt free living, reducing your monthly spend, being frugal and planning for big ticket items, having an early retirement income bridge strategy, generating passive income or taking more risk, we try to help you retire sooner and start living your best life. If you find yourself asking, What do I need to do to retire early?, then this video is for you.

The rule of 25 states that you should have 25 times your planned annual spending saved before you retire. For example, if you expect to spend $60,000 a year in retirement, you should have roughly 1.5 million or 25 times that amount. It is based on the 4% rule that is a rule of thumb that states you can withdraw 4 percent of your savings the first year of retirement and then adjust for inflation each subsequent year for 30 years. Inflation 2022 is a major concern and today’s discuss offers some suggestions to offset this retirement obstacle.

We believe having a debt free retirement is a key first step to how to retire early and gain your financial independence and financial freedom for retirement. It is the starting point in our questions. The consumer debt crisis in America is a retirement savings killer and we must encourage people to change their thoughts on debt. Hopefully you can retire sooner or even have an early retirement.

We hope you enjoy the rest of our “how-to” series on retirement and travel, along with our weekly travel vlogs on our journey around the world.

Please join us for a 10-year journey and world travel vlog. This is our retirement and we wanted to retire early and see the world. Perhaps our world travel will give some ideas on what to do after retirement and where to travel in 2022. As older travel vloggers, we have different perspectives as we show you where to visit in 2022 and give you our experiences as we travel the world and show you where to travel now. This is our retirement and we want to share it with you.

We hope you will subscribe, join us on our adventure, give us some likes and send us comments and suggestions. It means so much. Thank you and hope everyone has a wonderful travel 2022.

#retirement #ruleof25 #earlyretirement #retire #traveltheworld #debtfree #inflation2022 #financialplanning #financialindependence #4percentrule #debtfreeliving #financialfreedom #retirementtravel #fire

Our Financial Advisors: URS Advisory in West Palm Beach, FL

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ABOUT US:

As the retirement travelers, we have always dreamed of traveling, but we never in a million years thought we would become travel vloggers and start a YouTube channel. But, that is what we did! We work hard every day to become better and create something that others will enjoy. Having a community of friends, old and new, follow our journey is fun and exciting to us.

In 2019, we achieved our goal of visiting every state in the union in our Airstream. We also visited every national park in the lower 48. We are big believers in lists, so of course we plan to see the remaining 12 parks in the next few years.

In 2021, we made the big decision to extreme downsize to just a suitcase and a small backpack, each. We started our journey around the world beginning in Central America. We hope that over the next ten years, we will have seen many beautiful things, made many memories and new friends, and shared the experience with our children and grandchildren.

We hope you enjoy the journey with us. Drop us a note in the comments and be sure to hit subscribe! 🗺 🎥 🌮

[RetirementTravelers]

In this video, John discusses the Rule of 25 for retirement and some questions to ask that may accelerate your ability to retire sooner. We are loving retirement and hope to both help and inspire others.

[Anonymous-One]

Great advice! We are about 7 years away from retiring early. We worked with our financial planner on a few possible scenarios and ran them through a Monte Carlo Simulation. Of course this isn't fool proof, but it does give us a general idea of how we are progressing towards our goal.

[BethD]

Thank you John and Bev! John and I are getting ready! We have been debt free for 3 years (I’m 45 and he is 51) and I’m getting ready to be done with corporate life!

[aairsick]

Thank you for INSPIRING (you said it) me. I'm a 60 year old single senior flight attendant, and I'm considering my side hustle to be "part time" work as a flight attendant! That's a more than $30K in annual income to work 6-8 days! Dave Ramsey has lived at my house for a long time; almost debt free just the law school debt and house (yeap, I'm a lawyer too). So following your principles, I'm in better shape than I thought. Of course, all those years of lean living and savings helps too! Yes. You have lit a fire under me! Oh, and no travel expense for me to get where I'm going! P.S. Newly Subscribed.

[susanalexander]

Just discovered this channel and loving it!! Very practical and actionable content. Keep it coming.

[mathalwaysii]

Subscribed. Thanks for sharing your knowledge in early retirement. You and your wife are my inspiration. Hope you both continue to travel for years to come!

[helensimson]

Just found your channel - loving the ideas.
On a journey to retire earlier than the 67 🇬🇧 😊

[simplyretiredearly]

Debt free, making plans to do this early like you- having these very discussions with the kids! Just found your page today and all you are saying is validating what we are working on! Great, informative videos!

[MagentaOtterTravels]

Becoming debt free is a GREAT goal for everyone at any age! 🤑👍

[monsoongirlnyc]

You both have such a healthy, balanced approach to life. Thank you so much for sharing it. <3

[robbiewillford]

Really enjoying your channel and the insights you both have. My wife and I are interested in traveling as well. Might not be exactly what you two are doing. But you have giving me many more idea's to do this sooner than later. Thank you so much for sharing your journey.

[beachygurls]

Could you address healthcare ideas and costs? Where do you stay between trips? What do you consider your home base? What do you for family holidays/events? How do you continuously plan trips…just bucket list? What are your average costs for stays, travel, food, transportation, etc…? Love your take on family financial obligations like college and weddings…I feel the same way! Thank you

[vmichelita]

E X C E L L E N T information! Also, when the video came up I thought, Venice!" Can't wait to see more of your Italian adventures! 🇮🇹🍝🍷🍦

[AfricanFlightStar]

Excellent advice as always, stay safe 👍🏻💥👏🏻

[jaxonthornburgh]

John, love the videos and so impressed with the way you and Bev had the conviction to sell everything and see the world. Crazy to think back when we were working together that you would embrace this exciting lifestyle. Keep it up!

[jwylee]

Thank you for covering a topic that seems to baffle so many. As a CPA, I often get asked to give advise on retirement. I will definitely recommend anyone who is interested in how to plan for retirement to watch your videos. I think you do a great job in explaining about this topic.

[ryanretirement]

I achieved my fire movement last year I tell my manager that I have enough money last for the rest of my life. I am 34 years old now it took me 16 years to achieve financial independence retire early.

[garyxyz]

Very informative and great video. We been saving and living on less all our adult lives. We are currently debt free but still a decade from full retirement. I am hoping to retire sooner rather than later. Health insurance is the main reason to continue working.

[travelman]

Some great questions and wise advise. Thanks for trying to help others have an early and great retirement.

[faonTherod]

John, Bev. Thank you for empowering my wife and I. We were about to buy into a 55+ community but after watching your channel we walked away from giving a down payment. We are meeting with your financial advisors, Frankly Finances to get started. We do have a question for you:
What are you future plans when the time comes to “age in place”.
Thanks
Faon and Diana from Orlando, Florida