Episode-278- Preparedness As A Retirement Plan

Notice that I did not say “preparing for retirement”, what I am talking about was brought up in a great post by CdnGuy on our forum about how using the preparedness lifestyle with intent can lead to a much more rewarding and much earlier retirement then most Americans can ever hope for.

Tune in today to hear…

  • A retirement plan regardless of age starts with needs/wants assessment
  • To get motivated the first step is to understand “systemic dependence” and become disgusted with it
  • You must ask this question, what is retirement to YOU, my answer doesn’t matter only yours does
  • If you had no debt how much would you really need
  • There is currently a war against retirement to win you must first understand the war
  • How Madison Avenue lies about retirement destroy the best years of our lives
  • Retirement is for soul building and soul mate building
  • What is your motivation
  • Why you can sacrifice for 10 years but can’t and won’t for 50 and the trap that creates
  • Redefining what investing means and why your “adviser” is your retirements worst enemy

Resources for today’s show…

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13 Responses to Episode-278- Preparedness As A Retirement Plan

  1. Jack,

    Great call on the 20 year olds doin the \"want & needs\" check. My wife and I started off 27 years ago doin the same thing. We did a 6 month, 12 month and 60 month goals plan. Where do we want to be in 6, 12 and 60 months. We still do it. By following that plan, we got ahead faster than we planned.

    Great show. Get rid of those credit cards.

  2. Good show and I will take it even a step further. I am working to find a way to make a great living doing something I absolutely love. That way, “retirement” as defined by “quit the job you hate and do nothing” is really a thing of the past.

    I posted a review of No More Mondays and it really is a great book for opening my eyes to an alternate paradigm. If I found a way to generate a good income doing something I love to do, why would I quit?

    My guess is TSP for you is along these lines. Although we often disagree, I do enjoy watching you build this business and it reminds me that if we think outside the box and are creative we can find meaningful ways to generate income forever, not just during our “working years.”

    In my mind, the best investments are those that generate passive or near-passive investment streams rather than relying upon appreciation solely.

  3. We assess our fixed costs per mth. Things we must have to survive and live without stress.

    Relative cost was 20-30grand per year.

    No travel, no crazy dinner’s at establishments,
    no drinking at bars,etc.etc.

    SO i know. we need at least that per year if we are both not working.

  4. I know it’s a nitpick, but I have to burst your bubble on the exchange rate: CDN$100K is nearly US$94K now.

  5. Great show, Jack! Wanting to retire before i am too old to enjoy it is what drove me to start looking at ways to become self sufficient…and looking for self sufficiency podcasts is where i found TSP. The more self sufficient you are, the less it costs to live.

  6. Jack,

    Great show today.

    Trust me when I state that I am qualified by profession, experience, and credentials to either confirm or dispute the case you presented today from a financial standpoint.

    You are dead on. People never stop to consider they have a choice; they’d rather go with the herd.

    I don’t think it is wrong to work full time and beyond when I “could” retire according to the definition you gave today. (The fact is I could do it now at 49). The reality is that once I figured out that I could do it, that I had the freedom to make a change any time I wanted to, “work” became “play”. Doing something by choice is much less stressful than being forced to do the exact same thing; we look forward to games, we don’t look forward to work. When you are no longer a slave to the machine then it is a game.

    I guess what I’m saying is that having the freedom to make the choice is all I need right now. Life is good because of this- I’d bet you understand and probably agree.

  7. Best show ever Jack! Okay, I’m a bit biased. Actually, I still think your best shows are the ones where you get into the philosophy of Modern Survivalism. I especially loved the one differentiating between a prepper and someone pursuing self-sufficiency. I call myself both.

  8. Great show. In my view, your attitude seems similar to the colonists’ attitude when they came from the old world. That is this: “Screw your rules and screw you.” You’re the real deal Jack.

  9. One of your best shows, Jack! Spot on! Looking back (hindsight is 20/20 after all) we could have had our first house paid for at this point instead of having the majority of a mortgage still to pay off. It’s not too late for us, we’ll just have to be smarter about our choices to catch up. Great show.

  10. I will be forwarding this link to my two sons who are in college. My wife and I have been trying to teach them to remain debt free, I wish someone would have taught us, so they can be truly “free”!!!
    I really enjoy your podcasts and thank you for your kind words on the passing of Mr. Rawles’ wife..

  11. When I decided to move to my BOL in 2005, I did not realize the huge emotional benefit it would have on my life. Having no mortgage gives you incredible freedom, but the peace of mind that comes with having a roof over your head is beyond words. Sometime in 2007, I heard a podcast by the Money-Guy pointing out the benefits of owning your home. Jack’s P-O-V is aligned with this exact strategy. Will be FDW the podcast to a number of friends that should heed this advice.

    Good job.

  12. Jack
    I agree with the others, this episode is one of the best I have listened to. I moved it so I could listen again. This episode would be great as part of a pre-produced package for new listeners as an introduction to the podcast.

  13. (Well, I\’m a little late to the party but I rarely get to listen to TSP podcasts when they air.)

    Wow. Wow. What a podcast. When you said retirement is independence that turned on a light in my head.

    I think I\’m headed in the right direction and realized from your show that I\’ve subconsciously set my direction and have a plan to get there. I just didn\’t realize it out loud.

    Thanks, Jack. Amazing show. And thanks to CdnGuy too.