E136 – Early Retirement Now

Connect with Our Guest

Subscribe to Chain of Wealth

Join 40,515 Monthly Listeners

Subscribe to Chain of Wealth

Join 40,515 Monthly Listeners

Pro Tip: Timestamps below are clickable. Click on the time below in the brackets and the audio will start playing at that part of the show.

Karsten Jeske is a personal finance blogger who writes at Early Retirement Now or ERN for short. He is originally from Germany but came to the U.S. in 1995. He blogs about a host of retirement topics oh and he recently retired at the age of 44.

Welcome!

[2:54] Your blog stood out immediately because you were a fellow speaker at Fincon, what did you speak about in Orlando?
●            Panel discussion on safe withdrawal rates for early retirees
●            Everyone on the panel said a safe withdrawal rate is probably better 3.5% or 4%

[14:7] A ton of people in the personal finance space always say Baby Step 1 is to get 6 months of living expenses saved up into an Emergency Fund, but you feel differently. Why do you think it’s necessary to have an investment fund and what would you rather do with the money?
●            Karsten never had an emergency fund but everything he saved he put into stocks
●            Why should the money be sitting idle
●            Suze Orman talks about having 9 months of living expenses saved up
●            Sometimes you might withdraw at the peak of the market and sometimes at the trough

[18:21] How long does it really take to plan for early retirement? Put in another way, can you ever start planning for early retirement too late?
●            It took 10 years saving 50-60% of take home savings for Karsten to save up his nest egg.
●            You definitely want to start saving up as soon as possible

[20:43] Tell us a bit about early retired life- what’s been keeping you busy lately?
●            Initially planned to retire in February, but employer asked to extent to June.
●            7 Month trip around the world at the moment

Sponsor

[27:24] Are you looking for ways to make passive income? Head on over to chainofwealth.com/passive-income

Value Link Round

[27:50] What is your saving or retirement plan?
●            Bad portfolio in 2008
●            Job prospects didn’t look too good either

[32:28] Do you have any other books or podcasts you can recommend?
●            Your Money or Your Life
●            The Millionaire Next Door

[34:0] Do you have a favorite quote you like to live by?
●            Time is the most valuable things we have because it is the most irrevocable

[36:5] Parting piece of advice?
●             It’s never to late to start saving

Enjoying Our Podcast?

We have over 150 episodes to listen to! Join over 2,167 daily listeners that pursue financial freedom.

By entering your email, you agree to our Terms of Service and Privacy Policy.

Other Podcasts

E151 – Traditional and Roth IRAs

As promised to be included in this series on retirement, here are facts that you need to know about Traditional and Roth IRA, as the two most popular types of IRAs. Check this episode and learn more about your journey to financial freedom.

Welcome!

Listen »

E150 – Damion Lupo of Qualified Retirement Plan

Damion Lupo is the author of many books but we are going to talk mostly about his book called The QRP book today. Damion has actually appeared on the show before, where he has talked about how he went from being a multi-millionaire to being broke and building his net worth back up again.

Listen »
About the Podcast
Chain of Wealth

Chain of Wealth

The Chain of Wealth podcast is a biweekly podcast boasting over 350,000 downloads. We interview inspirational guests about money topics. You can learn more about us here.

Share On
Share on facebook
Share on twitter
Share on linkedin

Leave a Reply

Your email address will not be published. Required fields are marked *