How Much Does That Mean Per Month?

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If you were 22 right now, that means you could basically take that path and invest in index funds and be able to retire at 42. You've just cut off 23 years off the typical retirement of 65 or older. So if we were to invest $3,000 a month for 20 years, that would give us $1.6 million at an average 8% per year return. That wouldn't be enough to retire, right? You'd have to keep going. The number I actually used down here at the bottom is 1.6 million. It's 99.9% that you won't run out of money over the course of that time.

Rebecca chats with Tyler Wright. They delve into Tyler's journey to financial freedom at the young age of 27, his thoughts on investing during a down market, and so much more!

Tyler is a stock and real estate investor and entrepreneur who built the company Defining Wealth which helps people define what wealth is to them and achieve financial freedom.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

02:18 - How Tyler became financially free by 27 years old, and how you can too.

14:55 - Is it possible to retire early and what does it actually take to get there?

24:40 - Some realistic examples of how you could achieve financial freedom within 10 years.

30:15- What the 4% rule is, and how to use it to figure out how much money you need to retire early.

45:39 - Tyler’s investment strategy for 2023 and how he thinks about investing in down markets.

53:42 - The common hurdles faced when trying to fast track your retirement journey and how to overcome them.

56:33 - Tyler’s advice on the best ways to get started for someone wanting to begin their journey to financial independence.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Check out Tyler’s definingwealthonline.com.
Related Episode: MI234: How to Create a Recession Proof Financial Plan w/ Dave Alison, or watch the video.

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