I remember reading an article where Dave Ramsey said the top two ways that most people become millionaires in the $1M to $5M dollar range; 1) a paid off home and 2) maxing out retirement accounts. I already knew that paying off a home is always a way to help yourself become financially secure. But how many folks are really maxing out retirement accounts? Not as many as you would think. I did some research […]
A tontine is a pooled investment structure where a group of participants contributes money into a common fund. The fund then pays out income to its members, typically for life. As participants pass away, their share is redistributed among the surviving members, so the income for those who remain gradually rises. At its core, a tontine is a way to share longevity risk within a group without relying on an insurance company. A Brief History […]
Today, I celebrate my 5-year anniversary of leaving my CEO gig to retire early!!! Wow. Nuts. Insane. Just a few words that come to mind. Of course, my early retirement at times hasn’t FELT like retirement…especially during the many times when I’ve managed to overextend myself with side hustles. But then I go on a four-week trip, FORGET about everything, let automations do their thing, and all is well again… And that is exactly what I want to continue to do more of as I head into my 6th year of retirement. I need to get back to the early retirement basics. I want to remove myself from most of my side hustles, de-stress my life, and spend less time on this computer. That’s the dream right?!? So let’s take a look back at the past year, the ups, the downs, goals for Year 5 of early retirement, and everything in between: Is Early Retirement Worth it? Why is this even a question? YES, it is worth it! However, early retirement is NOT without its stressors…life still goes on, parenting is tiring, and well I am running too many side husttles! So while early retirment has surely been better than working my corporate job it still has its own issues. Anyways, following the same format of the last two years (Year 1 Review, Year 2 Review, Year 3 Review, Year 4 Review), I’ll go in-depth here on the same benchmarks: Happiness Health Wealth Work Fun Goals Early Retirement: Year 5 Review Alright, it’s the end of Year 5. What a number – > lets dive in! Happiness As you can see, my happiness really shot up as soon as I retired, but then you pretty much settle into early retirement and things dipped down a bit in Year 2. However, each year since then, I find myself tweaking things and making day-to-day improvements to my overall happiness. Again, this doesn’t mean that I don’t have bad days, because I certainly do, but I have found many ways to reduce the amount of bad days while at the same time increasing the amount of good days. BUT – I don’t really feel any happier than I have ever been. In fact in many ways, I feel more burned out and tired than ever. I think the key difference to my happiness has been in the ability to take even more vacations, be available for fun activities when my kids are home from school, and just try to focus on the now. I still have stress, mostly self-imposed from trying to run side-hustles. However, the results are clear, retirement is good for your happiness. Or at least for mine! Health Heading into this year, I have continued to make fitness and health a core priority. I’ve been hiking more, walking more, lifting weights again, etc. And you can see it reflected in my steps: Steps Another big surge in steps this year for me. Some
237: Rethinking Wealth: Why Financial Flexibility Beats Retirement Planning Most financial advice boils down to this: Grind for 30+ years. Max out your 401(k). Hope it all works out at 65. Yeah… no. In this episode, I sit down with Austin Dean, founder of Waystone Advisors, to explore a better way to think about money—one that prioritizes financial flexibility now, not just retirement later. If you’re tired of cookie-cutter plans that don’t account for your […]
Introduction: Can You Retire in Your 30s or 40s? Imagine waking up each morning with the freedom to pursue your passions, travel the world, or simply relax—without worrying about money. This is the promise of Financial Independence, Retire Early (FIRE), a movement that’s inspiring millions to rethink traditional retirement. FIRE isn’t about scraping by or giving up everything you love; it’s about building wealth strategically to gain control over your time. Whether you’re tired of […]
This is the story of how I decided to break free from the golden handcuffs and how you can do the same. It was during a late-night shift in my… The post Breaking the Golden Handcuffs: A Surgeon’s Journey to Financial Independence appeared first on The Darwinian Doctor.
I get this question regularly. The answer is, “Not nearly as much as you think.” A lot of people put off saving for retirement because they feel like they can’t put enough in. They feel like they don’t have a big enough “down payment” to get started. But the truth is that contributing even very small amounts, as little as $5 a month, regularly is plenty to get started. The most important thing is starting. […]