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Sound Financial Group - Bothell, Washington

 

Podcast Episode 094: Why We Should Talk, Part 1: Do You Know How Much Capital is Required?

| March 22, 2018
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Episode Summary

This is the launch of a new 10 part series, Why We Should Talk, where in part 1, Paul and Cory tackle the question, “Do you know how much capital is required to have a work-optional lifestyle?”

What Was Covered

  • 04:07 - The process when someone wants to potentially engage with SFG
  • 06:29 - How much you need to achieve a work-optional lifestyle
  • 09:12 - How much capital is required to replace your income?
  • 11:18 - Paul and Cory give an example for someone making $400K a year
  • 11:39 - The 4% Rule
  • 13:35 - How valuable are you to your family?
  • 13:57 - What if you plan on living at a lower lifestyle level?
  • 16:43 - Scene from Breaking Bad where Walter White and his wife discuss whether or not they can retire with the money they have recently come into
  • 19:15 - Getting hung up on the idea of, how much is enough is more than you have now
  • 20:16 - Having a sufficiency number and a surplus number

Tweetables

"Where we’re at too often is living a life by default rather than a life by design, but a life that you desire must be by design."

"People are not taught financial mechanics or financial philosophy about why they would do anything."

"Many of us are driving toward a future and we don’t even know the destination we’re heading towards."

"You need to make sure you don’t run out of money because you don’t know when you’re gonna die. "

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