The TRUTH About Financial Independence Retire Early (FIRE) - What They Don't Tell You!

Discover the truth about financial independence and retire early (fire) the risks and challenges they don't tell you about! In this video, we delve into the often-overlooked realities of retiring early. From financial pitfalls to lifestyle adjustments, we uncover the hidden aspects of leaving the workforce ahead of time. Join us for insights and tips to navigate this significant life change and ensure you're making an informed decision about retiring early.

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👇🏻Our DON'T LEAVE HOME WITHOUT Travel Essentials:

[tintinet]

last work day is this Friday! planning to ditch the belongings and hit the road ASAP!

[elizaC]

Oh my gosh you are exactly so spot on when you say that the public transportation and trains will give you a good lesson in patience, and a healthy sense of humor. I read about the trains, busses and subways in each location that we are going to. Intially my darling husband questioned my selection of them, but after getting him around Seoul, Taipei, and numerous cities in Italy early on in our travels, he just now asks how I know where to go. He does great on all of the photos, videos and all technology, so we are each bringing a different set of skills. 😊 My husband also hit the wall while trying to fast travel through Europe last year, and it was made very clear this isn't working. We have since agreed, no less than a week in one place. We are doing 5 countries in 5 months, but 3 months are in one country. The others are 7, 8, 8, and 10 days. But our blessing is that we are best friends so we talk about everything and we are always willing to adjust our plans for the other's need. Love and understanding goes a long way.

[deborahb.]

There’s a saying for early retirees, aka FIRE folks, your worst day is everyone else’s everyday. Fear stops a lot of us. But, the worst thing that can happen is one has to return home and get a job. You guys are amazing. Keep spreading the word and I hope to be out there soon. 😊

[pdxbeaver]

Thanks for the video. As a single person and traveler, I'm most concerned about isolation over time. I love to travel, but I have found being in a new place by myself, and not knowing the language, different culture, etc. just wears me down mentally over time being alone. This is my biggest hurdle to doing full time slow travel alone. Need to just get over this!

[Mr.Eeeeeeeee]

Great stuff. Wife and I are retired early (50) and moving to Greece in September. We will have an equivalent of 3-4 annual expenses in cash and have the rest invested in the stock market. Our brokerage has $500, 000 in capital gains that I will harvest in the next few years until our pension kicks in at 55. Since we will barely have any income until then, I will realize up to $90k for $0 capital gains and reinvest in index funds. With a step up basis, we will barely pay any capital gains tax on all of our investments since the rest is in a Roth.

[sbayles]

Great video. A lot of these items are what new retirees face in general - lack of familiar routine, watching your budget and choosing activities based on your plan, making new social connections, etc. I’m facing this in a couple of weeks. Scary, exciting.

[barryutah]

Re: re-entering the workforce, I can attest. After trying my own thing for a bit, I applied for jobs in my late 50's. Of course, all companies have their, "we don't discriminate on race, age...." printed all over. All that means is...they can't admit it 🤦‍♂

[gottabtrippin]

I was one of the people that asked you about an exit plane ticket and you reassured me that one is not needed. Then when it got closer to time to go I got cold feet and since I knew where I was planning to go next I just went ahead and bought the ticket to be sure. I was coming to Vietnam, and they have a reputation for strict rules so I wanted to make sure I didn't have an issue.

You were right though, they didn't ask anything about onward travel, they didn't even want to see my Visa. I just went through the passport control, they visually scanned the photo page, stamped it and off I went. Should have listened to you :)

[stoneycreekstorm]

My wife and I are looking at retiring next year (we will both be 53). Luckily we both have defined retirement plans that are indexed to inflation. We have watched plenty of videos of what to expect in retirement and appreciate all the content you have produced. We vicariously live through you guys and can't wait to start our own adventure.

[lindadorman]

It’s interesting how travel desires change over time. When I was in my 30s-40s, I traveled to 40 countries for both work and pleasure, staying from a week to 3 months. In my 50s, I traveled to fewer countries looking for a place to relocate. I sold everything and was away for years at a time. Now at 64, I’m less interested in starting over in another country, and even the idea of slow travel is not as compelling as it used to be. My cost of living is so low that living abroad no longer offers the cost savings it used to either.

[msbeecee]

Especially as a solo traveler w nobody to share the research load with, my version of slow travel will likely be 90 days in one country at a time w short trips from base. I've tried faster solo travel. It's utterly exhausting trying to research & plan logistics WHILE sightseeing

[erikaolsonaydin]

I love how you guys choose the perfect topics. You are fantastic about addressing issues that can be stressful with grace, humor, and solid information. I think you’re trustworthy because you always remind people to do their own due diligence when traveling full time. The way you guys respect each other reminds me of my husband and me. No sarcasm, just mutual appreciation and love. 🌷 Great video, again!

[MyLifeinSpain]

Hi guys, Good advice as always. I can see how it can be more difficult to establish a routine when you are moving between countries. Here in Spain people eat their main meal of the day at 14:00 whereas most other countries. Have it early evening. Because it is hot here in the summer we do our shopping early in the morning when it's cool. Have lunch at 14:00 followed by a siesta. Basically try and fit in with the routine people have in the country where you are and you will be happy. 😊

[chrism]

Hello again from Vancouver, Canada. You guys are doing a fantastic job. The quality of your videos and the content are excellent. Good luck with everything, keep going and remember to enjoy every minute of your work. Chris & Kyle

[markandannette]

Love this, my wife and I have recently retired and started our slow travel lifestyle. Really appreciate you both, we are now at that point that we need a little purpose and I think we will be going down the YouTube rabbit hole. Need a little something else to learn and do, plus we hope to help/inspire others with our personal journey

[steven_dekok]

My wife and I love spending 24/7 together. We are besties. We do get our alone time - I get up earlier than she does and she stays up later than I do. But we love spending time together.
The reverse culture shock is very real. Even though we only spend shorter periods of time outside of the US, each time we come back we make changes to our lives - eating better, getting rid of material possessions, we set up our back patio to be more inviting & relaxing so we could spend time talking, having a drink and smoking a cigar together - trying to replicate that relaxing environment we had outside the US.

[Dividend-Shark]

Thanks for sharing your experiences. My wife and I are a couple short years away from reaching FIRE at this point we are only mid 30s but still want to travel and enjoy life and also balance with the growth vs inflation as you stated. Holding stocks and dividend funds that pay us every month is huge as we never need to worry about selling shares even in a down market, also keeping a small portfolio of rental properties hopefully will sustain the lifestyle for the long term. Reinvesting some dividends each month to increase our "Paycheck", rising rents and staying under budget is the goal!

[allanahquinn]

Fabulous vlog again 👏🏻 Honest communication is so vital in a relationship.

[TravelerJerryLee]

Add Medellin, Columbia to your list if you can, I spent a couple months touring the city and then the country and had a great time! Buenos Aires, Argentine is another beautiful city with great people...

[tericam]

Wow!!! This is one of the best comprehensive vlog that addresses all aspects of fast and slow traveling in retirement. I appreciate your video even though I have lived through all those aspects. It would be so nice to meet you someday.