Two Sides of FI How Do I Know When I'm Ready to Retire?
21 snips
Jan 19, 2025 Determining the right time to retire isn't just about finances; emotional readiness plays a crucial role. Personal experiences reveal the struggles faced when transitioning away from work. The impact of COVID-19 on retirement planning is explored, highlighting the need for a balanced approach. Listeners are encouraged to embrace new identities and purposes in retirement, emphasizing personal growth and community involvement. Ultimately, the journey includes setting boundaries and finding joy in newfound freedom.
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Prioritize Mathematical Readiness
- Prioritize mathematical readiness first by knowing your expenses and setting a FIRE number.
- Use tools like Projection Lab to forecast different plans and contingencies.
One More Year Syndrome
- "One more year syndrome" can be a way to avoid the emotional aspects of retirement.
- Focusing on market predictions or sequence risk can be a form of procrastination.
Laura's Mixed Emotions
- Laura celebrated finishing performance reviews but felt emotional about her last publication.
- Eric discusses the emotional tug of leaving intellectual stimulation behind.