I enjoy learning from others successes as well as mistakes and financial regrets. One of my wife’s and I’s favorite YouTube channel that we watch regularly is Retirement Travelers. This is a couple that retired early and is now spending most of their time traveling around the world. A recent video by the couple talks about some of their financial regrets and it’s definitely worth a watch.
My goal is to retire at 55, similar to John’s journey in this video. Here’s a quick summary if you’re too lazy to watch the great video.
Best Decisions
- Savings first
- Low debt
- Public schools
- Used cars
- No credit card debt
- No cars for kids
- Using Deferred Compensation program
Big Mistakes
- Bought houses that were too big & too much stuff including a boat.
- Not speaking to financial advisor earlier.
Ironically, John & Bev had issues with financial advisors similar to what I’ve experienced but they did find someone they felt comfortable with for planning.
I’m on a very similar track although 5 years behind this couple as my wife and I are still working and we won’t hit 55 for a few years.
Share The Wealth
Did any of these regrets or good decisions jive with you? Let me know in the comments below.