Late Start, Early Retirement: A Step-by-Step Fast Track to FI
Got a late start on your retirement planning? Do you feel like you missed the boat and won’t be able to retire on your timeline? We’ve got good news for you in today’s episode—it’s never too late for retirement (and even EARLY retirement!). No matter what age you’re at, how much you have in the bank, and how much you make, you CAN retire on your terms, and our guests will prove it. The question is, will you follow through on their time-tested system for reaching retirement?
Bill Yount and Jackie Cummings Koski from the Catching Up to FI podcast are here to show you that whatever your situation is, you can get on track for retirement. Bill and Jackie both were late starters, only taking retirement seriously decades after starting their working careers. Even with their “late start,” Bill and Jackie were able to massively multiply their net worths and retirement savings, allowing them to reach financial freedom on their terms.
In today’s show, Bill and Jackie walk through the four steps that anyone can take to begin saving for retirement. You don’t need ANY money to take these initial steps, but doing so will change your entire financial future. Stick around for our next show as we get into the nitty gritty of retirement planning and put you directly on the path to retirement or early retirement!
In This Episode We Cover:
The four steps anyone can take to reach retirement
Why it’s okay to be a “late starter,” especially when it comes to retirement planning
How to do a “backward budget” to quickly and easily see how much you’re spending
Why you MUST look back on the financial “lessons” you’ve learned to build wealth now!
Getting clear on your goals and what you want to achieve so you can reach retirement
The “trifecta of mistakes” Bill made and how even that didn’t stop his financial freedom journey!
And So Much More!
Links from the Show
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(00:00) Intro
(03:02) Late Start, Early Retirement
(07:49) Before You Can Start
(09:55) “Backwards” Budgeting
(19:12) Make a Plan
(30:41) Acknowledge Your “Lessons”
(35:20) Stick Around!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1063
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