This couple retired at 38 and 41. Here's how they made it happen.

Рет қаралды 56,716

5 жыл бұрын

Want to retire early? Tanja Hester and her husband Mark Bunge went from freewheeling spending to financial independence, and say it's simpler than you think.

Пікірлер: 77

@drewconway7135 4 жыл бұрын

She’s so soft-spoken, but thankfully the producer added Muzak to the background to drown her out. Seriously, why?

@tomstock9546 4 жыл бұрын

Sorry, but the background music made it really hard to understand what they were talking about

@bartoszdobroslaw9774 2 жыл бұрын

I watch several KZfaq videos on how to trade in the stock market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands

@bartoszdobroslaw9774 2 жыл бұрын

@Samanthwalter Archie What is the name of your broker and how do i connect with him or her ?

@bartoszdobroslaw9774 2 жыл бұрын

@Samanthwalter Archie Wow that was easy, i found her website and left a message for her . i hope she reply me. thanks.

@prettygirlus9008 2 жыл бұрын

I would have liked to hear what they did for jobs and what they're doing for health insurance in early retirement.

@SmithFam2323 4 жыл бұрын

I got two more years. Walking out the door at 50. Not doing FIRE though just FI.

@deboman81 4 жыл бұрын

Dewayne Smith do you happen to have children though? Trying to see if it’s easier to retire at 50 if you have kids vs if you didn’t have any.

@FehadBilgramiChannel1 4 жыл бұрын

Congrats dude

@qeinfinity 3 жыл бұрын

I'm on the same plan, retire at 50... 7 years to go.. Also focused on FI, not RE!! Good luck to you sir!!

@ariefraiser140 2 жыл бұрын

@@Anonymous-ld7je Most people I know still want to work they just want to work doing something they love doing and once they no longer love it's great knowing they can just drop it and move on to something else. I'm about 7 years away from 50 and I also would love to stop retire from my current job and maybe take contract jobs here and there or jump into a whole different field.

@clewis3252 4 жыл бұрын

THANK YOU THANK YOU THANK YOU for acknowledging that “not everyone can do this”!!! Someone who’s constantly choosing whether to pay for food or for lights can’t participate in the “FIRE” movement.

@cato451 3 жыл бұрын

15 months to FI for me. Can’t f’ing wait. FI means I don’t take shit from anyone anymore. Every day becomes optional.

@gregorycarson8513 2 жыл бұрын

Congrats 🍾🎈🎊🎉 once reach,if you can bump it up a little more.

@vadimrazenberg 3 жыл бұрын

Love the FIRE movement. The one knock on all the couples who are shown have no kids. Would love to see a video with a couple who had 2 or 3 kids and achieved FIRE early. Maybe a thought for a future episode.

@maidieuhanh 2 жыл бұрын

Our Rich Journey

@FlyinChimpanzees 2 жыл бұрын

Jillian Johnshrud has 4 kids, but she started her FIRE journey in her early 20’s.

@nomehdrider 4 жыл бұрын

Last line was the best explanation for this type of lifestyle choice

@dnguyen787 4 жыл бұрын

In America it is difficult to retire early because of expensive medical insurance. Without it, your savings might be wiped out if you have a serious medical emergency.:-0

@joneltorregosa51 2 жыл бұрын

thanks for the insight. appreciate it. God bless!

@FehadBilgramiChannel1 4 жыл бұрын

Love the early and traditional phases of retirement

@uranus0007 4 жыл бұрын

they are talking too much but never gave actual numbers ..

@justbecause9645 4 жыл бұрын

@O Be wealthy before you start this. Forgot one.

@stantonla 3 жыл бұрын

The key takeaway is you need to identify your total annual spend and then multiply that by 25, 30, or in their case, slightly more than 30. That will give you the amount your net worth needs to be to be financially independent and safely draw down 3-4% annually. If you find that all your bills and discretionary spend monthly is $4,000 then your annual spend is $48,000. If you multiply that by 25 then you need to have a total net worth of $1,200,000 to safely draw down or withdraw 4% or $48,000 annually. The thinking is that a chunk of the $1.2MM net worth will remain in investments like the stock market and real estate which historically yield higher than 4% returns. To be extra safe some people will not consider themselves financially independent until they have 30 to 33 times their annual spend and will only draw down or withdraw 3% annually. If your budget is $48,000 and you multiply that by 33 then you get a net worth target of $1,584,000. If you draw down 3% that is $47,520, which is close to your annual spend of $48k.

@MyLifeThai371 Жыл бұрын

I also live in a cold climate and I keep my thermostat set at 60 degrees Fahrenheit. My teacher told me she remembers, when she graduated in 1979 and the President told everyone to turn down their thermostats and wear sweaters, because of the energy shortage.

@Happiness379 3 жыл бұрын

So where’s the link to see how to get started to make a plan to retire early?

@sharonbrown9721 3 жыл бұрын

What about investing more money going forward? How do you contribute to your retirement and regular accounts, all that money you can make so much money on going forward. Thanks for the video.

@DarkwarriorJ 3 жыл бұрын

It's a sacrifice. Anyone who decides to retire (for real; not Barista FIRE but real RE) on their own investments early on is sacrificing their future earnings potential for the experience of a life lived frugally but free for the rest of their lives. Whether or not the experience of riding roller coasters and travelling the world when you're 42, and then for the rest of your lives, is worth sacrificing the best-earning years of your life to build up even more wealth is a subjective call each person will have to make for themselves. In the counterfactual where one remains frugal and just keeps saving for their entire lives...www.cnbc.com/2016/08/29/janitor-secretly-amassed-an-8-million-fortune.html That happens. Guy doesn't even have a high income; he just saved and saved. At death, his net worth is waaayyy beyond what this video's couple's is and ever will be. But was it worth it for him? That's entirely up to him. Don't live life with regrets; if a life worked hard to make your local library a better place is what you feel is a worthy use of your life, then do it. If a life lived with freedom within reasonable bounds in the second half of your life, from age 45 to 90, is what you want, then do it. Both are worthy ways to live IMO, as long as it is what they want, and they have few regrets.

@ernestoybarra7333 Жыл бұрын

The numbers: The U.S. producer price index fell 0.5% in July, the Labor Department said Thursday. That’s down from a 1.0% jump in June and the first negative monthly print since April 2020. WoW America thanks Vladimir Vladimirovich Putin! Thank you sir

@eezy251able 4 жыл бұрын

I haven't watched the video. But I'm assuming they don't have kids. If they do, fair play!

@eezy251able 4 жыл бұрын

@@Bigboss-xe6lm And far more without!

@sportsfreundberlin 3 жыл бұрын

Age 59 is the traditional retirement age in the US? Here in Germany it's 67 and being discussed to be raised to 70. 😳

@chelolipoptart 3 жыл бұрын

62 is actually considered "early retirement" in the US. 67 is the traditional age when you can get the full benefits or Social Security from the government ^^

@sharonbrown9721 3 жыл бұрын

Do you have a financial investor professional?

@brandonreed09 4 жыл бұрын

You need enough money where you can live off of 4-5% interest of that money. Then you can live free.

@eezy251able 4 жыл бұрын

How.doea that work?

@brandonreed09 4 жыл бұрын

@@eezy251able Invest the money in a diversified portfolio of financial products with a bias toward lower risk products. Live off the interest generated so you are not consuming the principal. In order to get to that point though is up to you. Make your fortune and then preserve it.

@eezy251able 4 жыл бұрын

Yes that's a great concept. However to live off the interest of 4/5% interest then one is going to need one hell of a lump some that's for sure!

@ariefraiser140 4 жыл бұрын

@@eezy251able 5 percent is really for older retirees. I wouldn't even consider taking out 5% unless I was retiring in my mid 50s. Even if you hit a rough patch and your money starts dwindling faster than anticipated social security is about a decade away to rescue you. 4 percent is what most early retirees should take out at the most with som taking out 3% to minimize the risk of a bad market stretch killing their portfolio. And you are right you do need a rather large portfolio. At 4% a million dollars gives you $40,000 a year to live on. Which is not bad if you're single.

@mrhourhayday6530 Жыл бұрын

Hi 👋

@stephtraveler7378 3 жыл бұрын

Full Disclosure: Their inheritance. Public access county property records show the large one time transfer of ownership to them. This was also recorded in 2019 and it was fairly easy to make cash off rentals due to the Obama era barriers to entry (regulations) in home ownership created a landlord dream scenario. However, now its q4 2020 and your tenants have not paid rent since the Covide protection acts AND you can't evict them.... Also, look at your REIT index funds. They were booming in 2019 and before. Now, they are all down 30%. RE is too risky these days. Problem with these "feel good" articles is they do not disclose enough facts to draw a connection to the catchy title of the video.

@holdencawffle626 3 жыл бұрын

tanja is adorable

@Bigboss-xe6lm 4 жыл бұрын

Jesus Christ. Stop with the damn high background music. It destroys everything. STOP IT. And I think im speaking for most KZfaqrs.

@user-wu9sk7fs7v 4 жыл бұрын

if its what you want from life, go for it. i assume they dont have kids?? its great that they are living well within their means, most dont. for me i couldnt imagine life without children, i think when we get older it could get to be a lonely life.

@bonsaikiss 4 жыл бұрын

Keeping house at 55????????

@MyLifeThai371 Жыл бұрын

I keep my house at 60 F. in ND, but I don't think I could do 55 F. I do keep a milk house heater by my work desk and in the bathroom, whenever I am there.

@StephanieTips 2 жыл бұрын

They don't have kids though right?

@joecap2919 2 жыл бұрын

Lesson one, don't read Marketwatch propaganda

@beckaK7 4 жыл бұрын

No one with horses retires early hahaha. Or ever but better to live enjoy life work hard and have animals.

@MyLifeThai371 Жыл бұрын

Hay burners

@dave-wz5bm 4 жыл бұрын

So you will live once and you chose a life cheapest possible way?

@ariefraiser140 4 жыл бұрын

They choose freedom to do with their time whatever they pleased. If you choose to give up 50+ hours a week of your precious time working and commutting back and forth to work I see that as a more tragic existence.

@JK20239 5 жыл бұрын

Not wanting to work corporate soul sucking jobs?? 👏👏👏👏👏

@MTknitter22 4 жыл бұрын

Joshua Some govt jobs are soul sucking too

@stephtraveler7378 4 жыл бұрын

Applaud the saving and frugality mindset. Retiring in the US at 40 is a bad idea.... Healthcare at 65 comes from Medicare. Private insurance at that age has almost no pool and is crazy expensive. Social Security pays your Medicare part B. If you have paltry Social Security, you go in the hole paying for Medicare. Not good. Your Social Security is based on 35 years of earnings. For every year you have zero earnings a big fat zero gets averaged into your SSA benefit. Sounds like you will have nearly 20 years of zeros averaged in. Not good. You, my friend, will have a crappy social Security paycheck and might even be too low to cover your Medicare part B. This is the biggest oversight with the FIRE movement. Oh, and ditch the rentals before the Silver Tsunami hits and all the homes drag down sales and rental valuations.

@maxlewis2011 4 жыл бұрын

They are Landlords....they get paid from their tenants.....BIG TAX BREAKS AND RETURN!!! THEY HAVE A NEW CAREER!!! 💰

@ariefraiser140 4 жыл бұрын

I wonder why people like you think that people who were smart and bright enough to save, invest, and retire by 40 haven't played out all those scenarios before pulling the trigger.

@mlee9049 3 жыл бұрын

You decide when you're ready to retire; not the government. There are ways to escape the labor camp. Think outside the box, and live!

@Erin-rg3dw Жыл бұрын

This video is pretty short, but many of them do discuss what they are doing about health insurance. Some move out of country, others find other health plans. For example, one got insurance through their state's healthcare marketplace and it wasn't very expensive. Especially if you are and stay healthy, you can keep those costs down. Also, they will still have income through their retirement plans, rentals, and any businesses they choose to start, so it's not like they're living entirely on a savings account. Social Security is based on your 3 highest earning years, not an average of all years, so periods of unemployment won't counteract high-earning years.

@thinlet1 4 жыл бұрын

They didn’t retire, they started a new career

@linglee5759 4 жыл бұрын

Look a lot older than they claim

@MyLifeThai371 Жыл бұрын

Yeah, it really ages a person.

@tonymelnik2235 4 жыл бұрын

All these FIRE people seem very stingy, better of working a bit longer and enjoying yourself, treat yourself you only live once.

@Bigboss-xe6lm 4 жыл бұрын

I save 65% of my income and still spend money on vacations and my bucketlist of 100 things. Its all about prioritizing. You can be stingy and still have fun.