- Products & Services
- Knowledge Base
"Train your mindset to only spend what you plan for and it can open up a wealth of opportunities for the future you want, rather than the future you think you need."
NEW YORK, NY, May 30, 2019 /24-7PressRelease/ -- Money Answers Show host, Jordan Goodman, invited Tanja Hester, author of Work Optional: Retire Early the Non-Penny-Pinching Way and top influencer within the FIRE (financial independence, retire early) movement, to discuss rethinking how we value money and how to create a retirement plan that serves a purposeful role in long-range planning.
Money Answers Show episode, "Why Not Retire at 38 with Financial Independence? With Tanja Hester" brings up the idea of not having to wait until 65 to retire and still having most of your life to enjoy with financial stability. Many people are unaware of the opportunities out there that can set them on the path to retire in their thirties, forties, or fifties.
Most people think there is a script we have to follow such as getting a job, buying a car, buying a house and then upgrading and upsizing. It may be time to ask if you really need these material items to be happy.
The plan is less about pinching pennies and more about planning for a future you want. If you are in a demanding job and don't want to be working all hours of the day for the rest of your life, it may be worth spending less to enjoy your time later. When planning for retirement at 65, you fall into a false sense of security because you think you have 40 years to save. When you move up the timetable, it makes it easier to get into the saving mindset. Hester states:
"It's really about envisioning the life that you want to live and really thinking through the details of what that looks like. Where is that? What kind of living situation, what do you want to spend your time doing every day? Because you need to know what those things cost and it's only when you can kind of create that full vision that you understand, 'okay, here's what my future life will cost.'"
After you make a plan, you can cut out what doesn't feel necessary to essentially declutter your budget. Finding ways to optimize your spending and eliminating the indulgences can make a huge difference. Train your mindset to only spend what you plan for and it can open up a wealth of opportunities for the future you want, rather than the future you think you need.
For more information on how to reevaluate your plan for retirement, listen to "Why Not Retire at 38 with Financial Independence? With Tanja Hester" and other great podcasts from the Money Answers Show.
You can listen to The Money Answers Show with Jordan Goodman live every Monday 12 p.m. PST; 3 p.m. EST. or download the podcast on iTunes, Stitcher, or wherever you get your podcasts. You can also catch Goodman on Money Answers TV. If you're looking for additional information on financial topics, you can read Goodman's books on everything from repaying your student loans to real estate.
Jordan E. Goodman is "America's Money Answers Man" and a nationally-recognized expert on personal finance. He is a regular guest on numerous radio and television call-in shows across the country, answering questions on personal financial topics. He appears frequently on The View, Fox News Network, Fox Business Network, CNN, CNBC, and the CBS Evening News. He is the author/co-author of 13 best-selling books on personal finance including "Master Your Debt Fast Profits in Hard Times," "Everyone's Money Book," "Master Your Money Type," "Barron's Dictionary of Finance and Investment Terms and Barron's Finance and Investment Handbook." Jordan is also a speaker and seminar leader on personal finance topics for business executives, students, associations, investment clubs, employees and others. For more information, please visit https://www.moneyanswers.com.
# # #