119: Coronavirus: Is it Time To Give Up On Financial Independence?
In this week’s episode, Scott & Mindy bring back four previous guests (and introduce a brand new–and future–guest) to talk about retirement, the stock market, and how this current environment is affecting their spending, saving and investing. Andy Hill last joined us for Episode 34 - and boy has his life changed! He left formal employment in January (and shares some surprising info about his income & investing prospects. Amy & Tim discuss their House Sitting & Travel Hacking plans, and how they are on hold during this unprecedented travel lockdown. Kristy & Bryce share how their Cash Cushion and Yield Shield strategy is working out (spoiler: just fine!) and how they are taking advantage of lower rates on AirBnB rentals to offset their now-postponed geographic arbitrage plans. The Mad Fientist is continuing to stay the course - but with a surprise revelation that he was a bit freaked out for a moment, too! And we introduce Doug Nordman from The Military Guide to our listeners, to hear his voice of reason and experience and offer encouragement during these crazy times. These five experienced retirees are here to reinforce the fact that Financial Independence IS worth pursuing, it DOES work, and the math IS accurate! Is it time to give up on Financial Independence? Nope, not even close! In This Episode We Cover:How Andy's life changed after his last interview in this podcastAndy's feeling about his decision on quitting his job and build his own businessAndy's financial position before he leave his jobOne thing he wished he would have done differently before he left his jobAmy and Tim's after retirement planHow they do their withdrawal on their stock portfolio to sustain their lifestyleWhat their plan right nowAmy and Tim's advice for people who want to follow their footstepsHow prepared Brandon wasBrandon's opinion on the 4% rule What does he recommend having cash bufferBrandon's definition of a cash bufferBrandon's advice for people who are in the journey to Financial IndependenceBryce and Kristy's cash cushionTheir travelling routineTheir adviceContinuing to invest their money on stock marketThe reason why Doug is not concerned about the recessionHow prepared Doug was Doug's adviceAnd SO much more! Links from the Show:How to Access Retirement Funds Early - Mad FientistBiggerPockets Money Podcast 34BiggerPockets Money Podcast 57Determining Withdrawal Rates Using Historical DataBiggerPockets Money Podcast 55BiggerPockets Money Podcast 55.5AirbnbFear And Despair In The Time Of Bear Markets - Military GuideRaising Your Money-Savvy Family For Next Generation Financial Independence