473 | Are We There Yet? 'Retire Early' Case Study

In this episode: calculating when you retire, tracking expenses, health insurance, the importance of planning, and health spanning. This week we are rejoined by Teresa as well as Fritz Gilbert of The Retirement Manifesto to walk us through a case study of how to approach retirement while on your FI journey. It’s a common question to ask when you can retire or when you can stop working? Luckily there are plans of action and resources available covered in today's episode that will leave you feeling better prepared to proceed with a plan for retirement, no matter what part of your FI journey you are on. While there are many factors to consider when planning for retirement, such as savings versus spending rate and repositioning your portfolio, all these factors are manageable when you have a good plan in place. Take the time now to feel confident for what life will be like leading up to and after you retire! The Retirement Manifesto: Website: theretirementmanifesto.comBook: "Keys to a Successful Retirement: Staying Happy, Active and Productive in Your Retired Years" by Fritz GilbertCase Study: From Food Stamps to FIRE: A Case Study on Retirement Planning Timestamps: 1:33 - Introduction2:37 - Calculating When You Can Retire7:46 - Does Retiring Early Effect Social Security?15:06 - Tracking Spending and Expenses20:55 - Health Insurance in Retirement29:49 - The Importance of Planning/Changing Your Assumptions40:17 - One More Year Syndrome/Your Health Span45:00 - The Second Phase of Retirement49:51 - Conclusion Resources Mentioned In Today’s Episode: From Food Stamps to FI | Theresa | ChooseFI Ep 453New RetirementSSA ToolsOpen Social SecuritySSA.govHow To Determine When To Claim Social Security (Retirement Manifesto)The Retirement Manifesto Net Worth Template"Outlive: The Science and Art of Longevity" by Dr. Peter Attia with Bill GiffordWhat Happens When The Paycheck Stops? – Keys To A Successful Retirement With Fritz Gilbert (Part 1) | ChooseFI Ep 206Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)