Baby Steps to Financial Freedom [Retire Early]

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Baby Steps to Financial Freedom [Retire Early]
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Get my baby steps to financial freedom so you can retire early! I retired early at age 36 and became financially free at age 38 so I"m sharing the steps I took to reach financial freedom in the video. Enjoy!
Videos Mentioned:
--How Much Money To Retire? • How Much Money To Reti...
--4 Percent Rule For Retirement [Fire Movement] • 4 Percent Rule For Ret...
--House Paid Off by 40 [Mortgage Paid Off Early - Half The Time] 4 Tips • House Paid Off by 40 [...
--Financial Freedom: 5 Steps to Lean Financially Free at Age 38 • Financial Freedom: 5 S...
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DISCLAIMER: Content is for informational purposes only and should not be considered personal financial advice. This video and description may contain affiliate links. The content in this video is accurate as of the posting date.
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5 окт 2024

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Комментарии : 110

@WealthyTiffany 4 года назад

Thanks for watching! 😘 Comment below with at what age you want to become financially free!!

@WealthyTiffany 4 года назад

@Elizabeth Jeffrey It is important to have different streams of income, we just never know.

@katrinagay7283 3 года назад

By age 50!!! I'm 45 and already debt free, working towards Millionaire status now 🤜🤛

@WealthyTiffany 3 года назад

@@katrinagay7283 Yes!! You go girl! 😊

@MastertheJobSearch 4 года назад

I would LOVE to be financially free by 50. I can't imagine it though as it's only 10 years away. Working towards that goal though!

@WealthyTiffany 4 года назад

That would be amazing, I bet it will come quicker than you think! 😊

@truthseeker6338 3 года назад

We make what we believe come into our lives,hope you reach your goal.Your comment drew my attention beacuse 50 is my number as well

@WealthyTiffany 3 года назад

@@truthseeker6338 I hope you reach your goal too!! :)

@JayFairbrother 4 года назад

I’d like to get there by 40 or 45 at the latest. Another great video, I appreciate you always give solid financial advice on your channel. Keep it up 🙌🙌

@WealthyTiffany 4 года назад

That would be awesome, Jay! Thank you. 😊

@SteveItMakesSense 4 года назад

I want to be financially free at age 50. Great video!

@WealthyTiffany 4 года назад

Awesome Steve!! Thank you 😊

@AnastasiInTech 4 года назад

Great video! At 50 years or better right now ❤️👌

@WealthyTiffany 4 года назад

Thanks anastasi! Great goal!! 👍👍

@ralphparker 3 года назад

The 4% rule is for a 30 year retirement. Somewhere around a 90% Probability of Success(POS). If you retire in your 30's, you might need a bit more that 25x to maintain a decent POS. I retired at age 48. God really blesses!

@WealthyTiffany 3 года назад

He really does! 😊 Great job retiring at 48!

@JaneStoller 4 года назад

Interesting, this is so timely. I've been thinking of having a financial freedom plan!

@WealthyTiffany 4 года назад

Oh, awesome Jane! 😊

@samspraguefinanceformula3519 4 года назад

You will only have gains if you do. Anything we want in life we will get if we plan for it

@WealthyTiffany 4 года назад

@@samspraguefinanceformula3519 That's where it all begins!!

@charlinerubio496 3 года назад

Hi Tiffany, I'm Charline from the Philippines and now I'm 34, I happy to come across your vlog because it inspires me a lot. I have been investing in the stocks since April and i have almost doubled money today. I currently in a work from home scheme and plan to resign in the coming months. I have savings and also plan to put up a business and hopefully to invest in real estate. And I claimed that I can become a millionaire at 40 just like you. Continue to inspire other people and hopefully I can also inspire others with my own story someday.

@WealthyTiffany 3 года назад

That's awesome Charline! You can so do it!! :)

@PilatesWorkoutsOnline 4 года назад

This is some much-needed info!! Thank you for sharing these tips, it's amazing all the small changes that we can make for big results! Thank you!

@WealthyTiffany 4 года назад

You’re welcome Jessica!! It’s so true, small changes will really add up over time! 😁

@laurandes08 3 года назад

I'm 30 and I would love to retire at 35-38 to do what I love. Thank you very much for sharing Tiffany, regards from Bogotá-Colombia.

@WealthyTiffany 3 года назад

You can do it Laura! You're welcome. :)

@jononfirebudgetinginvestin3897 3 года назад

Excellent video! I’m one year into FIRE. It’s amazing how far u go when u make a solid plan. I hope to be financially free in my 30s (I’m 26)

@WealthyTiffany 3 года назад

Thank you Jon! It's so true - making that plan is key!! You'll have to keep me updated on your goal! :)

@a11px6 3 года назад

My goal is to be financially free by 40, which gives me 11 years to prepare. Thanks for your content!

@WealthyTiffany 3 года назад

Love the goal! You’re welcome 😊

@carlafisher1218 3 года назад

I would love to be financially free by 60. I'm currently 56 now. I'm giving myself 4 years to make it happen.

@WealthyTiffany 3 года назад

Love it Carla, I bet you'll be able to do it! :)

@YesToTech 4 года назад

Absolutely loved these tips! This is super helpful Tiffany! Can't wait to implement them!

@WealthyTiffany 4 года назад

So glad Yes To Tech!! 😊

@emilyjoansmith 4 года назад

Thank you for this! I'm glad you said that this isnt about restricting everything! You can still enjoy life.

@WealthyTiffany 4 года назад

Absolutely! We should definitely still be happy along the way! 😊

@UnwanaUdoh 3 года назад

Thanks for the inspiration 🙏

@WealthyTiffany 3 года назад

No problem 😊

@lisaguerrero1671 3 года назад

Yes, to freedom!! In less than 5 years!!

@WealthyTiffany 3 года назад

Yes, I love it Lisa!!

@EdenGold 4 года назад

This was beautifully put, and so easy and tangible when you brake it down like that. Thank you so much for this

@WealthyTiffany 4 года назад

Glad it was helpful Eden! ❤️

@alinowak2619 3 года назад

Yeah, now it sucks. I had plans for Poland 2020. I had everything booked. Now I dont know when and if I go. Lucky Im still traveling to Florida.

@WealthyTiffany 3 года назад

Poland would be cool, hopefully you still get to go sometime! True, at least you still get to go to Florida. :)

@deborahburns9731 4 года назад

Thanks Tiffany!

@WealthyTiffany 4 года назад

You’re welcome Deborah!

@SocialConfidenceMastery 4 года назад

I love this topic!

@WealthyTiffany 4 года назад

Thanks Social Confidence Mastery!

@Mykal2k8 4 года назад

Greetings tiffany, its 9 years for me. I like what you said about choosing to work after reaching FI. Some no stress part time work, because I want to. Not because I need to.

@WealthyTiffany 4 года назад

Greetings Michael, that’s awesome! I think people don’t realize that part about becoming financially free, they can choose to do whatever they want, which includes still working, but not because they need to. 👍

@lakshvee 3 года назад

Can you do a video on how to best make use of personal capital?

@WealthyTiffany 3 года назад

Hi Laksman! Here's a review I did about it: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-iJX7DFNEJMg.html

@katyamalets8505 4 года назад

So amazing!!!! you have really inspired me! I'm also working to create my financial freedom to live a more meaningful life. thanks for these clear steps!

@WealthyTiffany 4 года назад

I'm so happy to hear that Katya! You're welcome! 😬

@Papa1P3RCY 3 года назад

You’re so Amazing❤️ You’re an inspiration to me💫

@WealthyTiffany 3 года назад

Thank you 😊

@Lpittfit 4 года назад

Great information! You're so impressive at such a young age!

@WealthyTiffany 4 года назад

Thank you Lpittfit-Wellness Warrior! 😊

@ZachGinnOfficial 4 года назад

Straight facts.

@WealthyTiffany 4 года назад

👍👍

@InvestwithTania 4 года назад

At age 30! Very Helpful!

@WealthyTiffany 4 года назад

Great goal Tania!! Yea! 😊

@lori5946 4 года назад

I am 54 so my goal was I want to work less but make more. I have reached my goal. I don't want to retire unless I physical can't work anymore.

@WealthyTiffany 4 года назад

Hi Lori! That's a great goal, work less, but make more! 👍👍

@gerry2345 3 года назад

I like this vid. Good insight..

@WealthyTiffany 3 года назад

Thank you GerrysPlace!!

@jmclay4317 3 года назад

Great video! Thanks for all your tips! I’m debt free, we own 2 houses, paid off, maxed my TSP + catch up contribution, some savings but no investment. Where should I start? 😊

@WealthyTiffany 3 года назад

Thank you & you're welcome! That is awesome! To start simply, you can start with a Roth IRA (I have some videos about that on my channel) and here's my favorite fund to invest in, ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-9Hx16VYuxLI.html 😊

@NEVBB24 3 года назад

I’m aiming for 50. Question- if you are free by 40, that means you have money to 65. What if you live to 90-100? Should the number be higher?

@WealthyTiffany 3 года назад

Awesome Nev!! The money really should last until I'm 90-100, I just plan to be a little flexible if there are a few bad years. You could always increase the number if you don't feel comfortable with it. :)

@jenniferrahill2499 2 года назад

Thank you so much for the info. What do you do for Medical insurance? Thanks!

@WealthyTiffany 2 года назад

You're welcome Jennifer! This video explains different insurances and what I'm doing, ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Pd9peJI2SwA.html 😊

@jenniferrahill2499 2 года назад

Thank you so much!!

@WealthyTiffany 2 года назад

@@jenniferrahill2499 You're welcome! :)

@nathan6917 3 года назад

How can you do this without leveraging debt?

@WealthyTiffany 3 года назад

Hi Nathan, one easy way is just to invest as much as possible as soon as possible in the stock market.

@bfkissez 4 года назад

Hi Tiffany, Thank you for sharing your wealth of knowledge with us! Wondering how we’d factor the cost of health insurance into our FIRE number? Many of us have health insurance coverage through our employer. Once retired, we’d need to purchase our own health insurance. How do we figure out this cost? Thank you!

@WealthyTiffany 4 года назад

Hi Danielle! Good question, this is tricky because it can very quite a bit depending on your income and other factors. If your income is low enough, you'll qualify for a discount and if you can go with a high deductible plan, it will be even lower. And if you are going with a high deductible plan, it may be HSA (health savings account) qualified and if so, you can use money you contribute to your HSA to help offset medical expenses (plus, you can invest that money along the way if you don't need it). This article has links to a few calculators to help you estimate your cost, www.health.com/home/how-much-will-my-health-insurance-cost. There's just so many factors involved (how many people, what your medical condition is, which state you live in, etc) that it's hard to give an estimate.

@bfkissez 4 года назад

Thank you so much, Tiffany!

@WealthyTiffany 4 года назад

@@bfkissez You're welcome! :)

@briankow239 3 года назад

Are you still investing in new properties or are you doing a rental snowball and starting to pay them off?

@WealthyTiffany 3 года назад

I did pay off one, but part of me wants another property, so we'll see....

@anirban76 3 года назад

What about inflation?

@WealthyTiffany 3 года назад

Inflation is about 3% per year and is adjusted for in the 4% rule.

@MR-po8su 4 года назад

The truth: Why is she seeking donations in the video description? Why so many affiliate marketing links?

@WealthyTiffany 4 года назад

Hi M R, they are just easy ways if you'd like to support the channel which provides free content for everyone. No pressure to use them. 😊

@normidwest1316 3 года назад

regarding rental properties, are you ever challenged with individuals who f/u to pay rent? financially free asap ?

@WealthyTiffany 3 года назад

I've been really fortunate, I've only had one out of around 40 that was trouble!

@wendynoble6545 3 года назад

I think I can do it by 45 (in 3 years) if things go the way they've been going.

@WealthyTiffany 3 года назад

Sweet! Keep going!!

@mjmeadows1016 3 года назад

Great information! But how are you still single?

@WealthyTiffany 3 года назад

Thanks! Good question... 🤷

@mjmeadows1016 3 года назад

Lol! Keep up the great content!

@WealthyTiffany 3 года назад

@@mjmeadows1016 Haha, will do!

@Coast_to_Coast 3 года назад

Do you include your investment mortgages in your expenses when calculating your freedom number?

@WealthyTiffany 3 года назад

Yes, I did. :)

@Coast_to_Coast 3 года назад

@@WealthyTiffany got it. So you would need to use your gross income to offset it then? Wasn’t sure witch number to use.

@WealthyTiffany 3 года назад

@@Coast_to_Coast Gotcha, to calculate your financial freedom number, you use your annual expenses and multiply that by 25. So you're actually not using your income to figure out your number, just whatever amount you are spending, which is why I include my mortgages because they are an expense I still pay (even though they will go away in the future and then I'll have extra, but for now, since I'm paying them, I include them). Hope that clarifies!

@Coast_to_Coast 3 года назад

@@WealthyTiffany totally! Thanks.

@WealthyTiffany 3 года назад

@@Coast_to_Coast Welcome!

@emilyjoansmith 4 года назад

I would like to be financially free by 27

@WealthyTiffany 4 года назад

Such an awesome goal Live Without Limits Official! 🎉

@emilyjoansmith 4 года назад

@@WealthyTiffany think it’s possible?

@WealthyTiffany 4 года назад

@@emilyjoansmith Of course! I don't know your current situation, but follow the steps, invest as much as possible as soon as possible and keep focusing on the goal and what will you help you get there! 😊