In this episode of the podcast, Chris and Debbie talk with Becky Heptig, of startedat50.com, while self-quarantined during the COVID-19 pandemic. They have an extensive and honest conversation about all that led up to the position Becky and her husband found themselves in at the age of 50--with three children, a net worth of $0, and no hopes of retirement. There are so many parallels to the financial struggles so many are faced with during this pandemic.

Becky walks us through being burdened with fear and debt, how they got there, and how they were able to get themselves out of the hole they were in and to their present reality--debt free and retired early from their investment portfolio.

Listen in to hear all the ups and downs, twists and turns, and even some step-by-step to help you realize it’s never too late to start.

Some memorable quotes from Becky in this episode:

• “We had walked through a lot of pain. I never want to go through that pain again, but for us, that’s what it took to change our minds.”
• “We hadn’t done any planning for the future, so one major event sent us off the cliff...I saw us digging a bigger hole every day just to survive.
• “These circumstances have been thrust upon us. None of us chose this. It’s bringing to light things that we wish we’d done differently. In our situation, we had no emergency fund.”
• “If someone’s listening to this and they feel like it’s too late for them or they’ve lost hope, I want to encourage you--that there is hope, and you can make positive changes for yourself right now.”
• “We don’t have to have all the things we think we have to have.”

Becky shares some important steps along their path to freedom:

• The support of their community and family in difficult times
• Changing her mindset
• Finding tools to support them
• Finding Dave Ramsey and applying his resources, including building a “baby emergency fund” then becoming debt-free
• How getting clear about their values and their spending helped them feel empowered, safe and brought them peace (rather than feeling deprived)
• How applying what they learned took them from feeling like, “They might not ever be able to retire” in 2008 to having the ability to pull their retirement forward by four years in 2018 at the age of 63
• How they’re able to pay forward the support they felt in their time of need now that they have financial security

She also has this advice for anyone struggling financially right now:

1. Find a mentor and an accountability partner (they can be the same person)
2. Forgive yourself (“You can’t move forward with fear and shame.”)
3. Formulate a plan and move forward

Listen to the end to hear about the adventures Becky and her husband share together in retirement and about Becky’s bucket list.

Resources from this episode:

• Becky’s blog, startedat50.com
• Dave Ramsey’s Financial Peace University and his book, Financial Peace
• Choose FI podcast and resources
• A Simple Path to Wealth by JL Collins
• The Retirement Manifesto Blog by Fritz Gilbert

Stay in touch!

• 🌎 gobucketyourself.com
• Chris @bucketyourself on Insta
• Deb @imperfectprogress.me on Insta
• Get Deb’s book HERE