How to Retire As Early As Possible (Starting from $0)

How we can reach financial independence and retire earlier - if we know three variables about our own finances, we can create a plan for retiring faster than the average person does.

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Timestamps:
0:00 - Start Here
0:43 - How Retirement is Defined
1:46 - Step 1: Your Spend
3:39 - Step 2: Savings
8:11 - Step 3: Income
9:59 - Must Do Number 1
10:29 - Must Do Number 2
10:49 - Must Do Number 3
12:07 - Must Do Number 4

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PS: I am not a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!

[Lamarche]

Joined the Navy at 18 with 7k in the bank. I did janitorial and smoked a lot of pot in high school. Left the Navy after months with 40k in the bank. Invested 30k in the S&P stocks. Started working at UPS, Exide Battery and did concrete on Saturdays. Invested 1k a month every month into it with my Financial advisor Dianne Sarah Olson, Cashed out 350k from the S&P Cashed out and Semi retired at 31. Took a year off. Traveled. Came home and started working part time just for the insurance, entertainment and pocket change and still investing in stocks with a 3 million net worth, Work isn't work when you don't have to work. Becoming wealthy can be done in few years. It feels like 60hr work weeks. Feel the pain of discipline early or feel the pain of regret later. I wish everyone well!

[nicolasbenson]

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

[Riggsnic_co]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[Mitchbands]

I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k

[williamarmbruster]

This dude just casually drops the most helpful and easy to understand financial videos on all of youtube

[davidpratt]

Humphrey - your stuff is outstanding. I teach personal finance at the high school level and show your videos often. This one is sooo good for kids to see how to manage their money with huge goal of retiring at a younger age, to save, to sacrifice a little bit, to work hard for what you get. Appreciate your efforts!

[randxalthor]

Just a small note that the average life expectancy of an American and the life expectancy of 64-year-old American are different. Someone who's already survived to 64 in the US is expected to live to an average of 82 years old for men and 84 for women.

[behiyesabirlar]

Im DCAing in ZRT44H as well. ETH heavier DCA and ALGO. Im taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!

[Farmwald]

Investing in the stock market has HISTORICALLY provided higher returns than other forms of investment. According to Morningstar, the average annual return for the S&P 500 index, which measures the performance of 500 large-cap stocks, was approximately 10% from 1926 to 2022.

[hellosky]

Humphrey, I just want to say ‘Thank You’ for all the valuable videos! I don’t know if you get this enough but you are helping so many people by making them understand and learn basics of money management and finance! Love your videos man, keep them coming! You’re doing a great job!

[m_]

Super cool video ! Do you think amazons ZRT44H will pump before ETH ? I ask myself if there is a pattern in the order of the altcoins pumps.

[davidkerrliving]

Great video Humphrey! Got my savings rate at 47% for the year so far, looking to wrangle it in to over 50% by the end of 2023. Watching your videos always serve as a good reminder to stay dialed in. Survive simple, live rich my friends!

[bigslacker]

You don't need to retire to enjoy life, I would say a better framing of this idea is around financial freedom, so that you can choose where to put your efforts rather than having to in the interest of paying bills. Because you'll want to have some effort and purpose in life, it's one of the pillars of longevity.

[queenpayal]

My ZRT44H shorts are doing pretty well and I plan to hold much longer.

[mulletsquirrel]

I'm 35 and married with 3 kids. We really struggled to manage money in our 20s and into our early 30s (collections, car repo, CC debt, no saving, no investing). Now I'm really feeling the pain of missing out on those 10 years for compounding growth of investments. Trying to turn things around is tough though, lifestyle creep is real! Trying to increase our savings rate little by little hopefully up to 50% in the next handful of years. Thanks for this video, it is easy to understand and encouraging!

[faizali]

Now we just need to see the ZRT44H price also move in the same direction as these charts. Up. Very Up.

[cashflow]

I fully retired at 58 with no debt. My investment portfolio is 1.7M and living off a small pension and dividends. I do not include my paid off house part of net worth but a liability. Yes I have no payments, but I have the usual maintenance, property taxes and home insurance. I started the FIRE movement back in the 1980's. I will be filing for my max SS in 3 years when I reach 70.

[aureliobjm]

I retired as interpreting for deaf. I retired at 55 with $2.6 million in net worth and no debts. My State retirement in GA was $1, 700.00 SS was $1, 400.00 house paid for and car paid cash. My interpreting for deaf 5 years was $55, 000.. so for me 55 was perfect. My overall saving grace was my Saving and investing lifestyle in the stock market with the assistance of a licensed broker who I met at a financial seminar. So it worked out great for me.

[philochristos]

I'm saving about 90% of my pay right now, but that's only because I'm homeless and my job is paying my travel expenses. This job only lasts until the middle of next year, but I'm saving like crazy between now and then. I hope to retire in three years.

[karenawong]

Can’t thank you enough Humphrey 😊 learnt so much from your videos!