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 podcast

Andy's feeling about his decision on quitting his job and build his own business

Andy's financial position before he leave his job

One thing he wished he would have done differently before he left his job

Amy and Tim's after retirement plan

How they do their withdrawal on their stock portfolio to sustain their lifestyle

What their plan right now

Amy and Tim's advice for people who want to follow their footsteps

How prepared Brandon was

Brandon's opinion on the 4% rule 

What does he recommend having cash buffer

Brandon's definition of a cash buffer

Brandon's advice for people who are in the journey to Financial Independence

Bryce and Kristy's cash cushion

Their travelling routine

Their advice

Continuing to invest their money on stock market

The reason why Doug is not concerned about the recession

How prepared Doug was 

Doug's advice

And SO much more!

Links from the Show:

How to Access Retirement Funds Early - Mad Fientist

BiggerPockets Money Podcast 34

BiggerPockets Money Podcast 57

Determining Withdrawal Rates Using Historical Data

BiggerPockets Money Podcast 55

BiggerPockets Money Podcast 55.5

Airbnb

Fear And Despair In The Time Of Bear Markets - Military Guide

Raising Your Money-Savvy Family For Next Generation Financial Independence

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