Dumb Things Financial Experts Say, Part I

Do you ever cringe when you read some of what financial advisers say in interviews or online?

Here’s a quote that we can dispute. It’s from Michael Kresh, president of MD Kresh Financial Services and author of You Can Afford to Retire.

Kresh said the average person cannot afford to retire before his/her forties.

“The only people who can retire that young are the people who have hit it big really young,” Kresh said. “You’re looking at somebody who’s effectively hit the business jackpot or lottery.”

It’s also difficult to retire young if you have children. Kresh argues that children can set your retirement savings plan back as much as 10 years, partly because of the increase in higher education costs.

I would have to hand it to Kresh that retirement before 40 can present challenges in ways some have not thought about. Questions like “Now that I’ve quit the job I hate, what do I do? I didn’t expect to land HERE…” or “I didn’t think about all those job perks I got (traveling first class, health care included in my salary, my title and status, co-worker events that filled my social life…)” Some have even mentioned to us that since they have left their jobs, they have gotten depressed! Too much time on their hands!

Yikes.

But we dispute that one has to hit the business jackpot or that it’s SO. MUCH. MORE. DIFFICULT. to retire if you have children.

Our own story proves that being focused, not being big consumers, tracking spending and cutting down on personal infrastructure can be a highway to FIRE.

We’d also recommend that you take a look at our interview with Jillian Johnsrud. She and her husband retired early and are raising 5 children.

So don’t let those financial “experts” define your life for you. Choose your own future.

For more interviews of Captivating Characters and other Early Retirees, click here

 

About Retire Early Lifestyle

Billy and Akaisha Kaderli retired two decades ago at the age of 38 and began traveling the world. As recognized retirement experts and internationally published authors on topics of finance and world travel, they have been interviewed about retirement issues by The Wall Street Journal, Kiplinger's Personal Finance Magazine, The Motley Fool Rule Your Retirement newsletter, nationally syndicated radio talk shows and countless newspapers and TV shows nationally and worldwide. They wrote the popular books The Adventurer's Guide to Early Retirement and Your Retirement Dream IS Possible.
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